PAVELL
ActiveSummary
PAVELL has been active since 1985 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €88.8m and a net result of €363,223. Equity is growing by ~17% per year across the filed fiscal years. Its solvency ranks better than 95% of 565 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability39▼-21
Solvency100=
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000,000 at 30 days acceptable
Liquidity ample (current ratio 63.68 against 60.83 in 2023; short-term debt: 1% and cash: 25.1% of total assets), and 2% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Four 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 74
Relative position
BE, all sectors
reference
Other professional, scientific and technical activities (NACE 74)
about 48% fewer bankruptcies
← 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 2024Solvency, return and age of the figures
Solvency
98%
Return on assets
0.4%
Age of the figures
21 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 10-10-2025, 71 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
71 d late
2023
68 d late
2022
73 d late
2021
85 d late
2020
31 d late
2019
111 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 73 days after the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 38% of the sector filed late.
Checked, nothing found (1)
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2024, abbreviated schema
In the rankings
#1 company by total assets in East Flanders, Other professional activities sector#1 company by equity in East Flanders, Other professional activities sector#4 oldest company in Sint-Martens-Latem, Professional and technical services sector
Equity
€88.8m▲ 0.4%
2023 · €88.5m
Total assets
€90.7m▲ 0.1%
2023 · €90.6m
Net result
€363,223▼ 95.4%
2023 · €8.0m
Working capital
€54.3m▼ 9.4%
2023 · €59.9m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 74, Other professional, scientific and technical activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result-€868,951▼ 91.4%-€1.0m▼ 17.7%-€722,799▲ 29.3%-€660,030▲ 8.7%-€1.2m▼ 76.7%
Net result-€481,023below the sector's middle half€46.5mabove the sector's middle half€2.3mabove the sector's middle half▼ 95.1%€8.0mabove the sector's middle half▲ 249%€363,223above the sector's middle half▼ 95.4%
Equity€36.7mabove the sector's middle half▼ 7.0%€80.7mabove the sector's middle half▲ 120%€80.5mabove the sector's middle half▼ 0.3%€88.5mabove the sector's middle half▲ 9.9%€88.8mabove the sector's middle half▲ 0.4%
Total assets€40.1mabove the sector's middle half▼ 3.5%€86.3mabove the sector's middle half▲ 116%€84.7mabove the sector's middle half▼ 1.9%€90.6mabove the sector's middle half▲ 6.9%€90.7mabove the sector's middle half▲ 0.1%
Debt€3.4m▲ 63.2%€5.6m▲ 67.3%€4.2m▼ 24.9%€2.1m▼ 50.3%€1.8m▼ 13.2%
Working capital€16.8mabove the sector's middle half▼ 28.7%€19.3mabove the sector's middle half▲ 14.7%€32.5mabove the sector's middle half▲ 68.5%€59.9mabove the sector's middle half▲ 84.2%€54.3mabove the sector's middle half▼ 9.4%
Solvency91.6%above the sector's middle half▼ 3.4pp93.5%above the sector's middle half▲ 1.9pp95.0%above the sector's middle half▲ 1.5pp97.7%above the sector's middle half▲ 2.7pp98.0%above the sector's middle half▲ 0.3pp
Current ratio9.24above the sector's middle half▼ 27.985.39above the sector's middle half▼ 3.8511.55above the sector's middle half▲ 6.1660.83above the sector's middle half▲ 49.2863.68above the sector's middle half▲ 2.85
Return on assets (ROA)-1.2%within the sector's middle half▼ 83.1pp53.9%above the sector's middle half▲ 55.1pp2.7%within the sector's middle half▼ 51.2pp8.8%within the sector's middle half▲ 6.1pp0.4%within the sector's middle half▼ 8.4pp
Staff (FTE)1below the sector's middle half=1=1below the sector's middle half=1within the sector's middle half=0below the sector's middle half▼ 100%
above
within
below
the middle half (P25 to P75) of NACE 74, Other professional, scientific and technical activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Why a figure moved sharply
- 2022 Net result -95% on 2021. The accounts now follow the abbreviated schema, last year the micro schema.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €1.2m in 2024 against €660,030 in 2023; the loss grows and 2024 has the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €90.7m
Fixed assets
€35.5m ▲ 19.7%
Current assets
€55.2m ▼ 9.4%
Equity and liabilities €90.7m
Equity
€88.8m ▲ 0.4%
Provisions
€14,926 ▼ 11.1%
Debt
€1.8m ▼ 13.2%
Debt's share of the balance-sheet total falls from 2.3% to 2.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
-€427,993▼
2023 · -€195,831
Cash flow
€1.1m▼
2023 · €8.4m
Debt to equity
0.02▼
2023 · 0.02
ROE
0.4%▼
2023 · 9.0%
Interest coverage
2.16▲
2023 · 0.23
Debt ≤ 1 year
€866,193▼
2023 · €1.0m
Debt > 1 year
€944,881▼
2023 · €1.0m
Income taxes
€39,532▼
2023 · €784,117
Staff costs
€100,761▲
2023 · €89,340
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 491 companies that looked in July 2024 the way this one looks now, 0.8% went bankrupt within 24 months and 96% are still going.
- Large
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.8%
went bankrupt
3.3%
stopped otherwise
96%
still going
For this company itself Checked computes a bankruptcy probability of 0.1% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 491 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €88,860 | €102,575 | €89,340 | €100,761 | ▲ 12.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €678,425 | €718,205 | €476,884 | €464,200 | €738,318 | ▲ 59.1% |
| Other operating charges640/8 | - | €36,265 | €39,621 | €56,813 | €102,391 | ▲ 80.2% |
| Gross operating margin9900 | -€39,599 | -€179,509 | -€103,719 | -€49,678 | -€224,842 | ▼ 353% |
| Operating profit (loss)9901 | -€868,951 | -€1.0m | -€722,799 | -€660,030 | -€1.2m | ▼ 76.7% |
| Financial income75/76B | - | €49.6m | €4.6m | €8.6m | €1.4m | ▼ 84.0% |
| Recurring financial income75 | €400,484 | €770,675 | €287,068 | €417,130 | €1.4m | ▲ 229% |
| Non-recurring financial income76B | - | €48.9m | €4.3m | €8.1m | €0 | ▼ 100% |
| Financial charges65/66B | - | €118,107 | €1.4m | -€860,235 | -€195,860 | ▲ 77.2% |
| Recurring financial charges65 | €69,320 | €106,132 | €1.3m | -€860,235 | -€197,738 | ▲ 77.0% |
| Non-recurring financial charges66B | - | €11,975 | €80,770 | €0 | €1,878 | - |
| Profit (loss) for the period before taxes9903 | -€455,879 | €48.5m | €2.5m | €8.8m | €400,889 | ▼ 95.4% |
| Transfer from deferred taxes780 | - | €1,866 | €1,866 | €1,866 | €1,866 | = |
| Income taxes67/77 | €27,010 | €2.0m | €168,003 | €784,117 | €39,532 | ▼ 95.0% |
| Profit (loss) for the period9904 | -€481,023 | €46.5m | €2.3m | €8.0m | €363,223 | ▼ 95.4% |
| Transfer from tax-exempt reserves789 | - | €5,597 | €361,597 | €5,597 | €5,597 | = |
| Profit (loss) for the period to be appropriated9905 | €190,574 | €46.5m | €2.6m | €8.0m | €368,820 | ▼ 95.4% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €40.1m | €86.3m | €84.7m | €90.6m | €90.7m | ▲ 0.1% |
| Fixed assets21/28 | €21.2m | €62.6m | €49.1m | €29.7m | €35.5m | ▲ 19.7% |
| Tangible fixed assets22/27 | €14.4m | €20.3m | €20.5m | €21.7m | €26.4m | ▲ 22.0% |
| Land and buildings22 | - | €15.4m | €15.4m | €16.4m | €21.2m | ▲ 28.9% |
| Plant, machinery and equipment23 | - | €55,614 | €34,192 | €18,348 | €11,450 | ▼ 37.6% |
| Furniture and vehicles24 | - | €659,570 | €671,853 | €730,179 | €633,948 | ▼ 13.2% |
| Other tangible fixed assets26 | - | €34,947 | €42,417 | €37,153 | €34,885 | ▼ 6.1% |
| Assets under construction and advance payments27 | - | €4.1m | €4.4m | €4.5m | €4.6m | ▲ 2.7% |
| Financial fixed assets28 | €6.8m | €42.3m | €28.6m | €8.0m | €9.1m | ▲ 13.4% |
| Current assets29/58 | €18.9m | €23.7m | €35.6m | €60.9m | €55.2m | ▼ 9.4% |
| Amounts receivable after more than one year29 | - | €819,145 | €800,637 | €2.6m | €2.6m | ▲ 2.3% |
| Other amounts receivable291 | - | €819,145 | €800,637 | €2.6m | €2.6m | ▲ 2.3% |
| Amounts receivable within one year40/41 | €919,608 | €391,701 | €475,906 | €484,937 | €4.2m | ▲ 771% |
| Trade receivables40 | - | €162,573 | €159,351 | €81,158 | €99,263 | ▲ 22.3% |
| Other amounts receivable41 | - | €229,128 | €316,556 | €403,779 | €4.1m | ▲ 921% |
| Current investments50/53 | €9.3m | €13.3m | €13.6m | €36.2m | €25.4m | ▼ 29.8% |
| Cash at bank and in hand54/58 | €7.7m | €9.1m | €20.7m | €21.5m | €22.7m | ▲ 6.0% |
| Deferred charges and accrued income490/1 | - | €85,657 | €48,529 | €202,179 | €166,630 | ▼ 17.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €40.1m | €86.3m | €84.7m | €90.6m | €90.7m | ▲ 0.1% |
| Equity10/15 | €36.7m | €80.7m | €80.5m | €88.5m | €88.8m | ▲ 0.4% |
| Contributions10/11 | - | €152,902 | €152,902 | €152,902 | €152,902 | = |
| Reserves13 | €36.5m | €80.5m | €80.3m | €88.3m | €88.7m | ▲ 0.4% |
| Non-distributable reserves130/1 | - | €15,290 | €15,290 | €0 | - | - |
| Other1319 | - | €15,290 | €15,290 | €0 | - | - |
| Tax-exempt reserves132 | - | €420,951 | €59,354 | €53,757 | €48,160 | ▼ 10.4% |
| Distributable reserves133 | - | €80.1m | €80.3m | €88.3m | €88.6m | ▲ 0.4% |
| Profit (loss) carried forward14 | - | €0 | €0 | €0 | - | - |
| Provisions and deferred taxes16 | €22,388 | €20,523 | €18,657 | €16,791 | €14,926 | ▼ 11.1% |
| Deferred taxes168 | - | €20,523 | €18,657 | €16,791 | €14,926 | ▼ 11.1% |
| Amounts payable17/49 | €3.4m | €5.6m | €4.2m | €2.1m | €1.8m | ▼ 13.2% |
| Amounts payable after more than one year17 | €1.3m | €1.2m | €1.1m | €1.0m | €944,881 | ▼ 9.2% |
| Financial debts170/4 | - | €1.2m | €1.1m | €1.0m | €931,571 | ▼ 9.5% |
| Other amounts payable178/9 | - | €6,485 | €16,685 | €11,525 | €13,310 | ▲ 15.5% |
| Amounts payable within one year42/48 | €2.0m | €4.4m | €3.1m | €1.0m | €866,193 | ▼ 13.5% |
| Current portion of amounts payable after more than one year42 | - | €94,178 | €95,292 | €96,382 | €97,558 | ▲ 1.2% |
| Trade debts44 | €323,093 | €106,687 | €243,335 | €22,497 | €22,542 | ▲ 0.2% |
| Suppliers440/4 | - | €106,687 | €243,335 | €22,497 | €22,542 | ▲ 0.2% |
| Taxes, remuneration and social security45 | - | €2.3m | €566,529 | €843,015 | €706,713 | ▼ 16.2% |
| Taxes450/3 | - | €2.3m | €562,121 | €828,300 | €698,579 | ▼ 15.7% |
| Remuneration and social security454/9 | - | €0 | €4,409 | €14,715 | €8,133 | ▼ 44.7% |
| Other amounts payable47/48 | - | €1.9m | €2.2m | €39,380 | €39,380 | = |
| Accrued charges and deferred income492/3 | - | - | - | €57,710 | €10,458 | ▼ 81.9% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€481,023 | €46.5m | €2.3m | €8.0m | €363,223 | ▼ 95.4% |
| + Depreciation and write-downs630 | €678,425 | €718,205 | €476,884 | €464,200 | €738,318 | ▲ 59.1% |
| Operating cash flow (approximation) | €197,402 | €47.2m | €2.8m | €8.4m | €1.1m | ▼ 87.0% |
| Investment in fixed assets (approximation) | - | -€42.2m | €13.0m | €19.0m | -€6.6m | ▼ 135% |
| Change in cash | - | €1.3m | €11.6m | €794,595 | €1.3m | ▲ 61.5% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2025
10-10
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 71 days late
2024
07-10
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 68 days late
2023
31-12
Financial
Liquidity times 5current ratio 60.83
Current ratio from 11.55 to 60.83; short-term debt falls from €3.1m to €1.0m.
12-10
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 73 days late
2022
31-12
Financial
Liquidity doublescurrent ratio 11.55
Current ratio from 5.39 to 11.55; short-term debt falls from €4.4m to €3.1m.
24-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 85 days late
2021
31-12
Financial
Back to profitnet €46.5m
Net result €46.5m after one loss-making year.
31-12
Financial
Equity above €50mEq €80.7m ▲120%
Equity rises from €36.7m to €80.7m.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 31 days late
2020
31-12
Financial
Weakest financial yearnet -€481,023
Net result drops to -€481,023, the lowest in the series; recovery starts the following year.
19-11
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 111 days late
2019
31-12
Financial
Liquidity quadruplescurrent ratio 37.22
Current ratio from 9.37 to 37.22.
Show earlier events
31-12
Financial
Equity above €25mEq €39.4m ▲514%
2 profitable years in a row build equity to €39.4m.
23-09
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 54 days late
2018
30-10
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 91 days late
2017
29-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 29 days late
2016
19-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 19 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
6 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, Sint-Martens-Latem · 1 establishment unit since 1985
Ground area
4,050 m²
Building footprint
473 m²
Volume, LiDAR
2,663 m³
Parcel 44064B0534/00D000, Flanders · tallest building 19.2 m, ±2 floors. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
PAVELL
since 19852.026.134.515
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44064B0534/00D000 | Flanders | 4,050 m² | 1 · 473 m² | 19.2 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
2 holdingsOwners 0
The accounts to 31-12-2021 list no shareholders, and no other source names one.
Holdings 2
-
100%
-
share not stated
According to the 2021 annual accounts of PAVELL and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Recognitions · licences · registrations
Legal Entity Identifier
894500NEUC9CL782OB27
Similar companies · same sector, comparable size
Of 1,236 companies in sector 74140 we hold annual accounts for 353. 2 are within a factor 10 of this equity. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded01-01-1985
Fiscal year end31-12
Activities, NACEBEL 2025
62100Computer programming
74140Other specialised design activities
62200Computer consultancy and computer facilities management
68203Renting and operating of own or leased non-residential real estate, excluding land
74201Photography, excluding press photography
E-invoicing
Reachable via Peppol
Peppol ID
0208:0426693201
Also
9925:BE0426693201
Registered
15-01-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.