PAYAGE IMMO

Active

Private limited companyfounded 200818 yrs activeRue de Wattimez(T) 46, 7618 Rumes, BelgiumKBO/BCE: BE 0896.023.741

Summary

PAYAGE IMMO has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.1m and a net result of €24,584. Equity is growing by ~20.8% per year across the filed fiscal years. Its solvency ranks better than 82% of 9354 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).

Risk analysisWatch Report Compare

PAYAGE IMMOActiveChecked score 85/100

Risk analysis Report Compare

Checked score

Score 2025

85 / 100

Excellent

Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability71▼-1

Solvency100▲+4

Growth52=

Track record100

Bankruptcy probability, 12 months

0.2% Very low

0%0.5%1.5%4%10%≥ 25%

Credit up to €90,000 at 30 days acceptable

Liquidity ample (current ratio 3.49 against 2.17 in 2024; short-term debt: 5.4% and cash: 15.3% of total assets), and 25.1% 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

Five signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

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

Real estate activities (NACE 68)

about 43% fewer bankruptcies

← fewer bankruptcies more bankruptcies →

Annual accounts: healthy financial profile

The latest annual accounts show a healthy profile in solvency, result and liquidity.

NBB · annual accounts 2025

Solvency, return and age of the figures

Solvency

74.9%

Return on assets

1.7%

Age of the figures

9 mo

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

Higher-failure-rate region

In this region companies fail more often than in the rest of the country.

KBO · registered office

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 27-06-2026, 34 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

34 d early

2024

9 d early

2023

20 d late

2022

32 d late

2021

23 d late

2020

20 d late

2019

21 d late

← before the deadline after the deadline →

tick = median of all Belgian filingsring = median in the sector

This company filed its last 7 accounts on average 10 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.

Checked, nothing found (2)

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. Usually files around 21 August (4 of the last 5 filed years within 30 days of that day).

Companies Code · seven months

Position in the running window

30-09-2026 today31-12-2026 close31-07-2027 deadline

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

History

On 26 February 2008, PAYAGE IMMO was incorporated.¹ Total assets went from EUR 2.3 million in 2018 to EUR 1.4 million in 2025.²

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Investigating this company? Keep it with today's facts in a case file.

Financials · fiscal year 2025, abbreviated schema

In the rankings #8 company by equity in Rumes

Turnover

Not included in this filing

EBIT margin

Not included in this filing

Net result

€24,584▼ 40.3%

2024 · €41,149

Working capital

€189,796▲ 100%

2024 · €94,720

Result per fiscal year

Operating resultNet result

The operating result has fallen three years in a row; 2025 is 41% below 2024 and is the lowest result in the available series.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €1.4m

81.3%

18.7%

Fixed assets €1.2m ▼ 9.8%

Current assets €266,069 ▲ 51.6%

Equity and liabilities €1.4m

74.9%

25.1%

Equity €1.1m ▲ 2.4%

Debt €357,294 ▼ 14.3%

Debt's share of the balance-sheet total falls from 28.6% to 25.1%. Equity is higher and debt is lower.

Key figures and ratios

2025 value · change against 2024

EBITDA

€139,564▼

2024 · €172,314

Cash flow

€124,759▼

2024 · €146,905

Debt to equity

0.34▼

2024 · 0.40

ROE

2.3%▼

2024 · 4.0%

Interest coverage

18.98▼

2024 · 21.53

Debt ≤ 1 year

€76,273▼

2024 · €80,734

Debt > 1 year

€281,021▼

2024 · €336,218

Income taxes

€7,452▼

2024 · €17,470

Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 6,048 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 96% are still going.

Small
10 to 20 years old
solvency 30% or more
a profit under 5% of the balance sheet

0.4% went bankrupt

3.6% stopped otherwise

96% still going

For this company itself Checked computes a bankruptcy probability of 0.2% 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 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.

The companies in ten equal groups, from lowest to highest expected share.
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%	1.8%
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 6,048 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

OverviewIncome statement Balance sheet Cash flow

Filed annual accounts As filed with the NBB · 2025 against 2024 · 47 lines

Balance sheet Code20242025

Assets

Total assets20/58€1.5m€1.4m▼

Fixed assets21/28€1.3m€1.2m▼

Tangible fixed assets22/27€1.3m€1.2m▼

Land and buildings22€940,386€903,940▼

Plant, machinery and equipment23€166,358€129,814▼

Furniture and vehicles24€174,510€121,811▼

Financial fixed assets28€125€125=

Current assets29/58€175,454€266,069▲

Amounts receivable within one year40/41€65,186€44,606▼

Trade receivables40€31,563€7,781▼

Other amounts receivable41€33,623€36,825▲

Cash at bank and in hand54/58€105,895€217,488▲

Deferred charges and accrued income490/1€4,373€3,975▼

Equity and liabilities

Total equity and liabilities10/49€1.5m€1.4m▼

Equity10/15€1.0m€1.1m▲

Contributions10/11€18,600€18,600=

Reserves13€41,860€41,860=

Distributable reserves133€41,860€41,860=

Profit (loss) carried forward14€979,421€1.0m▲

Amounts payable17/49€416,952€357,294▼

Amounts payable after more than one year17€336,218€281,021▼

Financial debts170/4€336,218€281,021▼

Amounts payable within one year42/48€80,734€76,273▼

Current portion of amounts payable after more than one year42€54,132€55,197▲

Trade debts44€4,237€3,016▼

Suppliers440/4€4,237€3,016▼

Taxes, remuneration and social security45€15,268€10,919▼

Taxes450/3€15,268€10,919▼

Other amounts payable47/48€7,097€7,141▲

Income statement Code20242025

Non-recurring operating income76A€195-

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€105,756€100,175▼

Other operating charges640/8€10,355€8,786▼

Non-recurring operating charges66A€5,125€18,079▲

Gross operating margin9900€187,794€166,429▼

Operating profit (loss)9901€66,558€39,389▼

Financial income75/76B€65-

Recurring financial income75€65-

Financial charges65/66B€8,004€7,353▼

Recurring financial charges65€8,004€7,353▼

Profit (loss) for the period before taxes9903€58,619€32,036▼

Income taxes67/77€17,470€7,452▼

Profit (loss) for the period9904€41,149€24,584▼

Profit (loss) for the period to be appropriated9905€41,149€24,584▼

Appropriation of the result

Profit (loss) to be appropriated9906€1.0m€1.0m▼

Profit (loss) brought forward from the previous period14P€978,272€979,421▲

Transfer to equity691/2€40,000-

To other reserves6921€40,000-

The notes to these accounts (13 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line	2021	2022	2023	2024	2025	Change
Non-recurring operating income76A	€15,830	€262,210	€83,275	€195	-	-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630	€96,740	€96,281	€103,922	€105,756	€100,175	▼ 5.3%
Other operating charges640/8	€11,400	€12,900	€11,927	€10,355	€8,786	▼ 15.2%
Non-recurring operating charges66A	€27,820	€7,601	€1,635	€5,125	€18,079	▲ 253%
Gross operating margin9900	€261,251	€487,089	€316,010	€187,794	€166,429	▼ 11.4%
Operating profit (loss)9901	€125,291	€370,307	€198,526	€66,558	€39,389	▼ 40.8%
Financial income75/76B	-	-	-	€65	-	-
Recurring financial income75	-	-	-	€65	-	-
Financial charges65/66B	€14,233	€13,927	€10,453	€8,004	€7,353	▼ 8.1%
Recurring financial charges65	€14,233	€13,927	€10,453	€8,004	€7,353	▼ 8.1%
Profit (loss) for the period before taxes9903	€111,058	€356,380	€188,073	€58,619	€32,036	▼ 45.3%
Income taxes67/77	€30,179	€89,323	€41,353	€17,470	€7,452	▼ 57.3%
Profit (loss) for the period9904	€80,879	€267,057	€146,720	€41,149	€24,584	▼ 40.3%
Profit (loss) for the period to be appropriated9905	€80,879	€267,057	€146,720	€41,149	€24,584	▼ 40.3%

Line	2021	2022	2023	2024	2025	Change
Assets
Total assets20/58	€2.2m	€1.8m	€1.9m	€1.5m	€1.4m	▼ 2.4%
Fixed assets21/28	€2.1m	€1.7m	€1.5m	€1.3m	€1.2m	▼ 9.8%
Tangible fixed assets22/27	€2.1m	€1.7m	€1.5m	€1.3m	€1.2m	▼ 9.8%
Land and buildings22	€1.9m	€1.4m	€1.2m	€940,386	€903,940	▼ 3.9%
Plant, machinery and equipment23	€167,710	€158,632	€131,172	€166,358	€129,814	▼ 22.0%
Furniture and vehicles24	€48,899	€149,897	€179,669	€174,510	€121,811	▼ 30.2%
Financial fixed assets28	€125	€125	€125	€125	€125	=
Current assets29/58	€77,938	€101,073	€341,178	€175,454	€266,069	▲ 51.6%
Amounts receivable within one year40/41	€55,652	€58,101	€28,694	€65,186	€44,606	▼ 31.6%
Trade receivables40	€34,601	€36,586	€4,043	€31,563	€7,781	▼ 75.3%
Other amounts receivable41	€21,051	€21,515	€24,651	€33,623	€36,825	▲ 9.5%
Cash at bank and in hand54/58	€15,921	€39,316	€308,052	€105,895	€217,488	▲ 105%
Deferred charges and accrued income490/1	€6,365	€3,656	€4,432	€4,373	€3,975	▼ 9.1%
Equity and liabilities
Total equity and liabilities10/49	€2.2m	€1.8m	€1.9m	€1.5m	€1.4m	▼ 2.4%
Equity10/15	€584,955	€852,012	€998,732	€1.0m	€1.1m	▲ 2.4%
Contributions10/11	€18,600	€18,600	€18,600	€18,600	€18,600	=
Reserves13	€1,860	€1,860	€1,860	€41,860	€41,860	=
Non-distributable reserves130/1	€1,860	€1,860	€1,860	-	-	-
Reserves not available under the articles1311	€1,860	€1,860	€1,860	-	-	-
Distributable reserves133	-	-	-	€41,860	€41,860	=
Profit (loss) carried forward14	€564,495	€831,552	€978,272	€979,421	€1.0m	▲ 2.5%
Amounts payable17/49	€1.6m	€953,931	€855,598	€416,952	€357,294	▼ 14.3%
Amounts payable after more than one year17	€582,912	€481,310	€388,706	€336,218	€281,021	▼ 16.4%
Financial debts170/4	€582,912	€481,310	€388,706	€336,218	€281,021	▼ 16.4%
Amounts payable within one year42/48	€1.0m	€470,121	€466,892	€80,734	€76,273	▼ 5.5%
Current portion of amounts payable after more than one year42	€108,696	€101,603	€92,603	€54,132	€55,197	▲ 2.0%
Trade debts44	€348	€0	€2,286	€4,237	€3,016	▼ 28.8%
Suppliers440/4	€348	€0	€2,286	€4,237	€3,016	▼ 28.8%
Taxes, remuneration and social security45	€16,418	€27,445	€32,990	€15,268	€10,919	▼ 28.5%
Taxes450/3	€16,418	€27,445	€32,990	€15,268	€10,919	▼ 28.5%
Other amounts payable47/48	€891,073	€341,073	€339,013	€7,097	€7,141	▲ 0.6%
Accrued charges and deferred income492/3	€2,500	€2,500	-	-	-	-

Line	2021	2022	2023	2024	2025	Change
Profit (loss) for the period9904	€80,879	€267,057	€146,720	€41,149	€24,584	▼ 40.3%
+ Depreciation and write-downs630	€96,740	€96,281	€103,922	€105,756	€100,175	▼ 5.3%
Operating cash flow (approximation)	€177,619	€363,338	€250,642	€146,905	€124,759	▼ 15.1%
Investment in fixed assets (approximation)	-	€307,813	€87,796	€126,017	€25,514	▼ 79.8%
Change in cash	-	€23,395	€268,736	-€202,157	€111,593	▲ 155%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

Download as CSV

Timeline · acts, filings and financial milestones

All 15Financial 5Filings 10

Next filing, fiscal year 2026, expected by 31-07-2027

2026

27-06

NBB filing Annual accounts filed

fiscal year 2025 · abbreviated schema

2025

31-12

Financial Weakest financial yearnet €24,584 ▼40.3%

Net result drops to €24,584, the lowest in the series.

22-07

NBB filing Annual accounts filed

fiscal year 2024 · full schema

2024

31-12

Financial Liquidity triplescurrent ratio 2.17

Current ratio from 0.73 to 2.17; short-term debt falls from €466,892 to €80,734.

31-12

Financial Equity above €1mEq €1.0m ▲4.1%

7 profitable years in a row build equity to €1.0m.

20-08

NBB filing Annual accounts filed

fiscal year 2023 · full schema · 20 days late

2023

01-09

NBB filing Annual accounts filed

fiscal year 2022 · full schema · 32 days late

2022

31-12

Financial Highest result since 2018net €267,057 ▲230%

Operating result €370,307, net result €267,057, both a record.

23-08

NBB filing Annual accounts filed

fiscal year 2021 · full schema · 23 days late

2021

20-08

NBB filing Annual accounts filed

fiscal year 2020 · full schema · 20 days late

2020

31-12

Financial Equity above €500,000Eq €504,076 ▲23.2%

3 profitable years in a row build equity to €504,076.

21-08

NBB filing Annual accounts filed

fiscal year 2019 · full schema · 21 days late

Show earlier events

2019

07-10

NBB filing Annual accounts filed

fiscal year 2018 · full schema · 68 days late

2018

16-08

NBB filing Annual accounts filed

fiscal year 2017 · full schema · 16 days late

2017

23-08

NBB filing Annual accounts filed

fiscal year 2016 · full schema · 23 days late

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

0 of 4 acts read

About the unread acts

We know of 4 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

No directors read yet: 0 of 4 Gazette acts processed. See the function holders in the CBE →

Location & real-estate footprint

Registered office, Rumes

exact location from the address register On OpenStreetMap

Ground area

7,362 m²

Building footprint

366 m²

Volume, LiDAR

1,794 m³

Parcel 57077B0994/00D000, Wallonia · tallest building 7.4 m, ±2 floors. Linked by address, not a title deed.

1 parcel

Wallonia 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
57077B0994/00D000	Wallonia	7,362 m²	1 · 366 m²	7.4 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.

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Of 9,695 companies in this sector we hold annual accounts for 7,393. 3,843 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector

Company details

Identification

Legal formPrivate limited company

Founded26-02-2008

Fiscal year end31-12

Activities, NACEBEL 2025

68121Development of residential building projects

E-invoicing

Reachable via Peppol

Peppol ID 0208:0896023741

Also 9925:BE0896023741

Registered 30-12-2025

If you follow this company, Checked tells you the day it leaves the Peppol register.

Scores and ratios are computed by Checked and are not a credit decision.