PAVADO
ActivePAVADO has been active since 1993 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3.01M and a net result of €246k. Equity is growing by ~9.7% per year across the filed fiscal years. Its solvency ranks better than 83% of 268 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
83
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability84=
Solvency93▼-7
Growth47▼-2
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €55k at 30 days acceptable
Liquidity tight (current ratio 1.23 against 2.47 in 2024; short-term debt: 32.4% and cash: 16.1% of total assets), and 32.4% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 35
Relative position
BE, all sectors
reference
Sector 35
lower
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
67.6%
Return on assets
5.5%
Age of the figures
15 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 10-11-2025, 82 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
82 d early
2024
52 d early
2023
54 d early
2022
53 d early
2021
56 d early
2020
51 d early
2019
56 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close16-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€592k▼ 7.3%
2024 · €639k
2019: €552k
2020: €947k
2021: €1.08M
2022: €633k
2023: €655k
2024: €639k
2019 → 2025
EBIT margin
51.9%▼ 17.2pp
2024 · 69.1%
2019: 85.9%
2020: 85.3%
2021: 89.5%
2022: 73.4%
2023: 69.1%
2024: 69.1%
2019 → 2025
Net result
€246k▼ 18.5%
2024 · €302k
2019: €334k
2020: €569k
2021: €696k
2022: €317k
2023: €304k
2024: €302k
2019 → 2025
Working capital
€328k▼ 77.2%
2024 · €1.44M
2019: €946k
2020: €986k
2021: €368k
2022: €585k
2023: €1.01M
2024: €1.44M
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€1.08M-€633k▼ 41.3%€655k▲ 3.5%€639k▼ 2.4%€592k▼ 7.3%
Equity€3.22M-€3.54M▲ 9.9%€3.84M▲ 8.6%€4.14M▲ 7.9%€3.01M▼ 27.4%
Operating result€965k-€465k▼ 51.9%€453k▼ 2.5%€442k▼ 2.5%€307k▼ 30.4%
Net result€696k-€317k▼ 54.4%€304k▼ 4.1%€302k▼ 0.7%€246k▼ 18.5%
Result per fiscal year
Operating resultNet result
The operating result has fallen four years in a row; 2025 is 30% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.45M
Fixed assets
€2.68M▼ 2.9%
Current assets
€1.77M▼ 26.7%
Equity and liabilities €4.45M
Equity
€3.01M▼ 27.4%
Debt
€1.44M▲ 39.8%
The debt ratio rises from 19.9% to 32.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€428k▼
2024 · €562k
Cash flow
€367k▼
2024 · €422k
Solvency
67.6%▼
2024 · 80.1%
Current ratio
1.23▼
2024 · 2.47
Quick ratio
1.20▼
2024 · 2.43
Debt / equity
0.48▲
2024 · 0.25
ROE
8.2%▲
2024 · 7.3%
ROA
5.5%▼
2024 · 5.8%
Interest coverage
12567.79▲
2024 · 10.54
Debt
€1.44M▲
2024 · €1.03M
Debt ≤ 1 year
€1.44M▲
2024 · €977k
Income taxes
€82k▼
2024 · €101k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€5.17M€4.45M▼
Fixed assets21/28€2.76M€2.68M▼
Tangible fixed assets22/27€2.76M€2.68M▼
Land and buildings22€2.76M€2.68M▼
Financial fixed assets28€417€417=
Affiliated companies280/1€417-
Participating interests280€417-
Other financial fixed assets284/8-€417
Amounts receivable and cash guarantees285/8-€417
Current assets29/58€2.41M€1.77M▼
Stocks and contracts in progress3€37k€37k=
Stocks30/36€37k€37k=
Goods purchased for resale34€37k€37k=
Amounts receivable within one year40/41€41k€1.00M▲
Trade receivables40€35k€37k▲
Other amounts receivable41€5k€964k▲
Cash at bank and in hand54/58€2.33M€715k▼
Deferred charges and accrued income490/1€6k€16k▲
Equity and liabilities
Total equity and liabilities10/49€5.17M€4.45M▼
Equity10/15€4.14M€3.01M▼
Contributions10/11€210k€210k=
Capital10€210k€210k=
Issued capital100€210k€210k=
Reserves13€3.93M€2.80M▼
Non-distributable reserves130/1€21k€21k=
Legal reserve130€21k€21k=
Distributable reserves133€3.91M€2.77M▼
Profit (loss) carried forward14€233-
Amounts payable17/49€1.03M€1.44M▲
Amounts payable within one year42/48€977k€1.44M▲
Trade debts44€37k€39k▲
Suppliers440/4€37k€39k▲
Other amounts payable47/48€940k€1.40M▲
Accrued charges and deferred income492/3€53k€17▼
Income statement
Code20242025
Operating income70/76A€656k€601k▼
Turnover70€639k€592k▼
Other operating income74€17k€9k▼
Operating charges60/66A€214k€294k▲
Purchases600/8€37k-
Change in stocks: decrease (increase)609€-37k-
Services and other goods61€55k€131k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€120k€121k▲
Other operating charges640/8€39k€42k▲
Operating profit (loss)9901€442k€307k▼
Financial income75/76B€15k€22k▲
Recurring financial income75€15k€22k▲
Income from current assets751-€22k
Other financial income752/9€15k-
Financial charges65/66B€54k€634▼
Recurring financial charges65€54k€634▼
Debt charges650€53k€34▼
Other financial charges652/9€600€600=
Profit (loss) for the period before taxes9903€403k€328k▼
Income taxes67/77€101k€82k▼
Taxes670/3€101k€82k▼
Profit (loss) for the period9904€302k€246k▼
Profit (loss) for the period to be appropriated9905€302k€246k▼
Appropriation of the result
Profit (loss) to be appropriated9906€302k€246k▼
Profit (loss) brought forward from the previous period14P€24€233▲
Transfer from equity791/2-€1.14M
From reserves792-€1.14M
Transfer to equity691/2€302k-
To other reserves6921€302k-
Profit to be distributed694/7-€1.38M
Return on contributions (dividend)694-€1.38M
The notes to these accounts (20 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2025
10-11
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
30-06
Financial
Weakest financial yearnet €246k ▼18.5%
Net result drops to €246k, the lowest in the series.
2024
10-12
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2023
08-12
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2022
09-12
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2021
06-12
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
30-06
Financial
Highest result since 2019net €696k ▲22.3%
Operating result €965k, net result €696k, both a record.
2020
11-12
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
30-06
Financial
Equity above €2MEq €2.52M ▲29.2%
2 profitable years in a row build equity to €2.52M.
2019
06-12
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2018
10-12
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2017
21-12
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2016
06-12
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
8 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Destelbergen · 1 establishment unit since 1995
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Dendermondesteenweg 2689070 DestelbergenGround area
1.1 ha
Building footprint
6,073 m²
Volume, LiDAR
25,675 m³
Parcel 44013A0225/00G000, Flanders · tallest building 9.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Dendermondesteenweg 268, 9070 Destelbergen
since 19952.070.018.701
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44013A0225/00G000 | Flanders | 1.1 ha | 1 · 6,073 m² | 9.0 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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TREVION
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WOLFSTEE INVESTMENT I
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COMPTOIR CITOYEN DES ENERGIES
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Of 562 companies in sector 35150 we hold annual accounts for 230. 102 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded30-06-1993
Fiscal year end30-06
Activities, NACEBEL
35150Electricity, gas, steam and air conditioning supply
Sources
Crossroads Bank for EnterprisesNational Bank · 32 filingsAddress and cadastre registers
Data from official sources, last processed on 16-09-2026. Scores and ratios are computed by Checked and are not a credit decision.