Equity
€20,360 from €91,958 in 2024
Equity fell by 78% in 1 year.
PAVLOV
Lifetime
7 annual accounts with figures on one time axispeak €66,537 (2023)
€34,848▼ 34.8%
peak €31,309 (2023)
€3,402▼ 78.7%
peak €91,958 (2024)
€20,360▼ 77.9%
€142,817▲ 139%
Board1 name since 2017
1 directorPAVLOV Pavel Pavlovitch
Documentsfilings and deeds
31-08-202631 days late
2025micro format
Gross margin from €53,481 to €34,848Result from €16,007 to €3,402Dividend €75,000Equity from €91,958 to €20,360Debts from €59,679 to €142,817
Key points
from the 2025 annual accountsChecked score
51
Fair
Financially stronger than 23% of micro companies in construction of buildings (NACE 41)
Probability in this band: 1.5% to 4.2%
Bankruptcy probability within 12 months
2.5% Moderate
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 1.5% across 13,458 companies (NACE 41, micro).
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 1.3%
01-2025: 1.2%▼ -0.1 percentage points vs 12-2024
02-2025: 1.2%● unchanged vs 01-2025
03-2025: 1.2%● unchanged vs 02-2025
04-2025: 1.2%● unchanged vs 03-2025
05-2025: 1.0%▼ -0.2 percentage points vs 04-2025
06-2025: 1.0%● unchanged vs 05-2025
07-2025: 1.1%▲ +0.1 percentage points vs 06-2025
08-2025: 1.5%▲ +0.4 percentage points vs 07-2025
09-2025: 1.2%▼ -0.3 percentage points vs 08-2025
10-2025: 1.2%● unchanged vs 09-2025
11-2025: 1.2%● unchanged vs 10-2025
12-2025: 1.2%● unchanged vs 11-2025
01-2026: 1.1%▼ -0.1 percentage points vs 12-2025
02-2026: 1.1%● unchanged vs 01-2026
03-2026: 1.1%● unchanged vs 02-2026
04-2026: 1.1%● unchanged vs 03-2026
05-2026: 1.1%● unchanged vs 04-2026
06-2026: 1.0%▼ -0.1 percentage points vs 05-2026
07-2026: 1.0%● unchanged vs 06-2026lowest value
08-2026: 1.5%▲ +0.5 percentage points vs 07-2026
09-2026: 2.5%▲ +1.0 percentage point vs 08-2026highest value
10-2026: 2.5%● unchanged vs 09-2026highest value
11-2026: 2.5%● unchanged vs 10-2026highest value
Financial strengthWeak
Score breakdown
raises risk
Last filed accounts filed 31 days late; 3 of the last 3 accounts late
Sector: Construction of residential and non-residential buildings (NACE 41)
Equity €20,360 (12.5% of total assets)
lowers risk
Liquidity: current ratio 1.02, cash €26,834
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 41, micro). It does better than 20% of them on solvency, 22% on liquidity, 45% on profitability and 7% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the moderate class on 30-06-2025, 2.4% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 3,274 companies had the same profile as PAVLOV has now. Each dot stands for 9 companies, two years later.
94.7%
were still trading
2.5%
stopped another way
2.5%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of PAVLOV itself: 2.5% within 12 months.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 3,274 companies, not a prediction for PAVLOV. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €1,000 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.02 (2.85 in 2024), below the usual 1.5. Short-term debt is 79.6% and cash 16.4% of total assets. 87.5% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises risk
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 20% of 9456 sector peers (2025).
NBB · sector comparisonPosition among 9456 sector peers
Solvency
better than 20%
← weakest
strongest →
raises risk · 2025 accounts filed 31 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 7 filingsDeviation from the deadline
2025
31 days late
2024
31 days late
2023
68 days late
2022
90 days late
2021
87 days late
2020
96 days late
2019
81 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 69 days after the deadline. In the sector (NACE 41), the median for financial year 2024 was on the deadline day, and 46% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 8 October (5 of the last 5 accounts filed within 38 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0673671433
Environmental permit granted
Verbouwen en/of uitbreiden zonder functiewijziging en zonder wijziging van aantal woongelegenheden · Boutersem
Legal-form change · Resignations & appointments
Resignation: PAVLOV Pavel Pavlovitch (manager) · Reappointment: PAVLOV Pavel Pavlovitch (director) · Director discharge: PAVLOV Pavel Pavlovitch · General meeting of 27-12-2019 · Gazette deed
Incorporation
published on 03-04-2017 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| PAVLOV Herk-de-Stad | €163,177 | €34,848 | 12.5% | - |
| Lovale Concept Auderghem | €166,387 | €32,475 | 36.8% | - |
| VIA RENOV Brussels | €173,713 | €32,142 | 22.3% | - |
| JP STYLE Sint-Pieters-Leeuw | €153,434 | €36,311 | 71.7% | - |
| CONSTRUCT CAMBIER PROJECT Binche | €151,229 | €30,999 | 66.6% | - |
| RUUD DE SMET Tielt | €143,018 | €32,924 | 32.0% | - |
| AU CAP SPARTEL Molenbeek-Saint-Jean | €162,540 | €38,829 | 36.1% | - |
These companies have the same main activity as PAVLOV: general construction of residential buildings (NACE 41001). They are comparable in size and age: total assets between €143,000 and €174,000, founded between 2016 and 2018.
Official details
Source: KBO- Status
- Active since 30-03-2017Normal situation
- Activity
- General construction of residential buildingsNACE 41001and 6 others
- Establishment unit
- 2.264.195.8733540 Herk-de-Stad, since 30-03-2017
- Financial year end
- 31 December
- Peppol
- Reachable since 25-11-2025
Insights on PAVLOV
PAVLOV files the micro format. That format states no turnover. The gross margin rose from €12,692 in 2019 to €34,848 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about PAVLOV
- What is the company number of PAVLOV?
- The company number of PAVLOV is 0673.671.433. The VAT number is the same number with BE in front: BE 0673.671.433.
- Where is PAVLOV based?
- The registered office is at Sint-Jorislaan 104, 3540 Herk-de-Stad.Company details
- What does PAVLOV do?
- According to the KBO register, the main activity is general construction of residential buildings (NACE 41001).
- What is the legal form of PAVLOV?
- PAVLOV is a private limited company (BV).
- When was PAVLOV founded?
- PAVLOV was founded on 30-03-2017.
- Is PAVLOV still active?
- Yes, PAVLOV is an active enterprise in the KBO register.
- What is the turnover of PAVLOV?
- The turnover in financial year 2025 is ≈ €240,000. This figure is estimated from the gross margin of €34,848 and 163 comparable companies (NACE 41001). It probably lies between €130,000 and €440,000.Financials
- Is PAVLOV profitable?
- In financial year 2025, PAVLOV made a profit of €3,402.
- Where can I find the annual accounts of PAVLOV?
- PAVLOV filed 7 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of PAVLOV due?
- PAVLOV must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can trust this company with building work.Contractor check Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Check which of your other customers you can e-invoice via Peppol.Peppol check Compare this company with its sector.Sector benchmark
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