PAVAMO
ActivePAVAMO has been active since 1986 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-561k) and a net result of €-115k. Equity is shrinking by ~40.8% per year across the filed fiscal years. Its solvency ranks better than 11% of 9099 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency33=
Growth32=
Stability100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.06 against 0.08 in 2024), and equity is negative.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Sector 68
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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-7.6%
Return on assets
-1.6%
Age of the figures
8 mo
raises risk · Negative equity
Equity is negative for financial year 2025: liabilities exceed assets. This is the trigger point of the alarm-bell procedure (Belgian CAC).
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€561k
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-07-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
7 d early
2023
8 d early
2022
3 d early
2021
11 d early
2020
27 d late
2019
28 d late
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
15-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€-561k▼ 25.6%
2024 · €-447k
2018: €193k
2019: €557k
2020: €782k
2021: €515k
2022: €148k
2023: €-177k
2024: €-447k
2018 → 2025
Total assets
€7.35M▲ 2.2%
2024 · €7.19M
2018: €5.45M
2019: €5.52M
2020: €5.92M
2021: €5.55M
2022: €5.11M
2023: €7.22M
2024: €7.19M
2018 → 2025
Net result
€-115k▲ 57.5%
2024 · €-269k
2018: €-88k
2019: €364k
2020: €226k
2021: €-267k
2022: €-367k
2023: €-325k
2024: €-269k
2018 → 2025
Working capital
€-5.59M▼ 10.9%
2024 · €-5.04M
2018: €-4.48M
2019: €-4.22M
2020: €-3.76M
2021: €-3.90M
2022: €-4.24M
2023: €-4.50M
2024: €-5.04M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€515k-€148k▼ 71.3%€-177k€-447k▼ 152%€-561k▼ 25.6%
Operating result€-106k-€-210k▼ 97.3%€-125k▲ 40.4%€36k€167k▲ 369%
Net result€-267k-€-367k▼ 37.5%€-325k▲ 11.5%€-269k▲ 17.2%€-115k▲ 57.5%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 369% above 2024 and is the highest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €7.35M
Fixed assets
€6.99M▲ 3.7%
Current assets
€357k▼ 20.5%
Key figures and ratios
EBITDA
€351k▲
2024 · €215k
Cash flow
€69k▲
2024 · €-90k
Solvency
-7.6%▼
2024 · -6.2%
Current ratio
0.06▼
2024 · 0.08
Quick ratio
0.06▼
2024 · 0.08
Debt / equity
-13.89▲
2024 · -16.84
ROE
20.4%▼
2024 · 60.3%
ROA
-1.6%▲
2024 · -3.7%
Interest coverage
1.20▲
2024 · 0.67
Debt
€7.79M▲
2024 · €7.52M
Debt ≤ 1 year
€5.95M▲
2024 · €5.49M
Debt > 1 year
€1.66M▼
2024 · €1.83M
Income taxes
€1k▲
2024 · €-541
Staff costs
€24k▲
2024 · €15k
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€7.19M€7.35M▲
Fixed assets21/28€6.74M€6.99M▲
Tangible fixed assets22/27€6.69M€6.93M▲
Land and buildings22€6.69M€6.93M▲
Plant, machinery and equipment23€0-
Furniture and vehicles24€543-
Assets under construction and advance payments27€0-
Financial fixed assets28€57k€58k▲
Current assets29/58€449k€357k▼
Amounts receivable after more than one year29€217k€224k▲
Other amounts receivable291€217k€224k▲
Amounts receivable within one year40/41€38k€49k▲
Trade receivables40€13k€11k▼
Other amounts receivable41€24k€38k▲
Cash at bank and in hand54/58€187k€75k▼
Deferred charges and accrued income490/1€8k€9k▲
Equity and liabilities
Total equity and liabilities10/49€7.19M€7.35M▲
Equity10/15€-447k€-561k▼
Contributions10/11€2.14M€2.14M=
Capital10€2.14M€2.14M=
Issued capital100€2.14M€2.14M=
Reserves13€477k€463k▼
Non-distributable reserves130/1€14k€14k=
Legal reserve130€14k€14k=
Tax-exempt reserves132€363k€348k▼
Distributable reserves133€101k€101k=
Profit (loss) carried forward14€-3.06M€-3.16M▼
Provisions and deferred taxes16€121k€116k▼
Deferred taxes168€121k€116k▼
Amounts payable17/49€7.52M€7.79M▲
Amounts payable after more than one year17€1.83M€1.66M▼
Financial debts170/4€1.83M€1.66M▼
Amounts payable within one year42/48€5.49M€5.95M▲
Current portion of amounts payable after more than one year42€167k€173k▲
Financial debts43€5.10M€5.51M▲
Credit institutions430/8€500k€900k▲
Other loans439€4.60M€4.61M▲
Trade debts44€84k€133k▲
Suppliers440/4€84k€133k▲
Advances received on contracts in progress46€6k€6k▲
Taxes, remuneration and social security45€28k€23k▼
Taxes450/3€27k€22k▼
Remuneration and social security454/9€1k€1k▲
Other amounts payable47/48€105k€105k=
Accrued charges and deferred income492/3€192k€184k▼
Income statement
Code20242025
Remuneration, social security and pensions62€15k€24k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€179k€184k▲
Other operating charges640/8€39k€38k▼
Gross operating margin9900€269k€413k▲
Operating profit (loss)9901€36k€167k▲
Financial income75/76B€8k€8k▼
Recurring financial income75€8k€8k▼
Financial charges65/66B€318k€293k▼
Recurring financial charges65€318k€293k▼
Profit (loss) for the period before taxes9903€-274k€-118k▲
Transfer from deferred taxes780€5k€5k=
Income taxes67/77€-541€1k▲
Profit (loss) for the period9904€-269k€-115k▲
Transfer from tax-exempt reserves789€14k€14k=
Profit (loss) for the period to be appropriated9905€-255k€-100k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-3.06M€-3.16M▼
Profit (loss) brought forward from the previous period14P€-2.81M€-3.06M▼
The notes to these accounts (8 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
2026
30-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
24-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
23-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
28-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet €-367k
Net result drops to €-367k, the lowest in the series; recovery starts the following year.
20-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
27-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 27 days late
2020
28-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 28 days late
2019
31-12
Financial
Back to profitnet €364k
Net result €364k after one loss-making year.
31-12
Financial
Equity above €500kEq €557k ▲188%
Equity rises from €193k to €557k.
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 29 days late
2018
23-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 23 days late
2017
28-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 28 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
7 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, Waregem · 1 establishment unit since 1986
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.
Kalkhoevestraat 108790 WaregemGround area
3,295 m²
Building footprint
5,638 m²
Volume, LiDAR
34,837 m³
Parcel 34452B0655/00K003, Flanders · tallest building 26.5 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
PAVAMO
since 19862.036.758.884
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34452B0655/00K003 | Flanders | 3,295 m² | 1 · 5,637 m² | 26.5 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.
Similar companies · same sector, comparable size
LOUVIMAR
BE 0463.466.493
Perwez · Eq €148k
GROUP LBS
BE 0871.245.486
Grimbergen · Eq €148k
WONINGEN DETIEGE
BE 0825.011.922
Leuven · Eq €148k
DONOS
BE 0783.540.264
Wezembeek-Oppem · Eq €148k
Newhouse Estates
BE 0502.633.313
Antwerpen · Eq €147k
Of 7,287 companies in sector 68110 we hold annual accounts for 5,353. 3,792 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded06-05-1986
Fiscal year end31-12
Activities, NACEBEL
68110Buying and selling of own real estate
68201Renting and operating of own or leased residential real estate, excluding social housing
68203Renting and operating of own or leased non-residential real estate, excluding land
68204Real estate activities
Sources
Crossroads Bank for EnterprisesNational Bank · 40 filingsAddress and cadastre registers
Data from official sources, last processed on 15-09-2026. Scores and ratios are computed by Checked and are not a credit decision.