PB
ActiveSummary
PB has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €244,747 and a net result of €98,906. Equity is growing by ~11.1% per year across the filed fiscal years. Its solvency ranks better than 58% of 26041 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability90▲+3
Solvency67▼-5
Growth68=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €16,000 at 30 days acceptable
Liquidity short (current ratio 0.36 against 0.32 in 2023; short-term debt: 33.1% and cash: 4.3% of total assets), and 57.9% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more 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
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 09-06-2025, 52 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
not confirmed
2024
52 d early
2023
32 d early
2022
33 d early
2021
75 d early
2020
29 d early
2019
72 d early
← 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 49 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Turnover
€163,441▲ 3.8%
2021 · €157,411
EBIT margin
35.1%▲ 21.4pp
2021 · 13.7%
Net result
€98,906▲ 27.3%
2023 · €77,709
Working capital
-€122,168▼ 44.1%
2023 · -€84,793
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Turnover€142,974▲ 1.5%€157,411▲ 10.1%€163,441▲ 3.8%
Operating result€33,314▼ 12.1%€21,555▼ 35.3%€57,427▲ 166%€51,406▼ 10.5%€65,871▲ 28.1%
Net result€24,836▼ 8.0%€7,673▼ 69.1%€47,939▲ 525%€77,709▲ 62.1%€98,906▲ 27.3%
EBIT margin23.3%▼ 3.6pp13.7%▼ 9.6pp35.1%▲ 21.4pp
Equity€169,520▲ 11.8%€169,193▼ 0.2%€193,132▲ 14.1%€245,841▲ 27.3%€244,747▼ 0.4%
Total assets€567,263▲ 2.4%€426,344▼ 24.8%€539,287▲ 26.5%€518,463▼ 3.9%€581,126▲ 12.1%
Debt€387,446▼ 1.1%€247,186▼ 36.2%€336,523▲ 36.1%€263,322▼ 21.8%€327,411▲ 24.3%
Working capital-€142,398▼ 1.7%-€18,459▲ 87.0%-€103,900▼ 463%-€84,793▲ 18.4%-€122,168▼ 44.1%
Staff (FTE)0.3=0.3=0.31▲ 233%
Result per fiscal year
Operating resultNet result
The operating result recovers in 2024; 2024 is 28% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €581,126
Fixed assets
€511,059 ▲ 6.8%
Current assets
€70,067 ▲ 76.0%
Equity and liabilities €581,126
Equity
€244,747 ▼ 0.4%
Provisions
€8,968 ▼ 3.6%
Debt
€327,411 ▲ 24.3%
Debt's share of the balance-sheet total rises from 50.8% to 56.3%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€114,151▲
2023 · €79,560
Cash flow
€147,186▲
2023 · €105,863
Current ratio
0.36▲
2023 · 0.32
Quick ratio
0.32▲
2023 · 0.24
Debt to equity
1.34▲
2023 · 1.07
ROE
40.4%▲
2023 · 31.6%
ROA
17.0%▲
2023 · 15.0%
Interest coverage
14.30▲
2023 · 9.38
Debt ≤ 1 year
€192,235▲
2023 · €124,613
Debt > 1 year
€131,726▼
2023 · €135,631
Income taxes
€9,379▼
2023 · €15,562
Staff costs
€17,779▲
2023 · €17,509
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €142,974 | €157,411 | €163,441 | - | - | - |
| Non-recurring operating income76A | - | - | €18,931 | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | €128,642 | €119,832 | €123,350 | - | - |
| Remuneration, social security and pensions62 | - | €16,977 | €16,008 | €17,509 | €17,779 | ▲ 1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €23,588 | €22,069 | €41,183 | €28,154 | €48,280 | ▲ 71.5% |
| Other operating charges640/8 | - | €7,041 | €5,896 | €4,031 | €2,825 | ▼ 29.9% |
| Gross operating margin9900 | €76,857 | €67,641 | €120,514 | €101,100 | €134,755 | ▲ 33.3% |
| Operating profit (loss)9901 | €33,314 | €21,555 | €57,427 | €51,406 | €65,871 | ▲ 28.1% |
| Financial income75/76B | - | €23 | €10,263 | €50,016 | €50,067 | ▲ 0.1% |
| Recurring financial income75 | €12,845 | €23 | €10,263 | €50,016 | €50,067 | ▲ 0.1% |
| Financial charges65/66B | - | €7,890 | €8,337 | €8,483 | €7,985 | ▼ 5.9% |
| Recurring financial charges65 | €8,363 | €7,890 | €8,337 | €8,483 | €7,985 | ▼ 5.9% |
| Profit (loss) for the period before taxes9903 | €37,796 | €13,688 | €59,353 | €92,939 | €107,953 | ▲ 16.2% |
| Transfer from deferred taxes780 | - | €332 | €332 | €332 | €332 | = |
| Income taxes67/77 | €13,292 | €6,347 | €11,746 | €15,562 | €9,379 | ▼ 39.7% |
| Profit (loss) for the period9904 | €24,836 | €7,673 | €47,939 | €77,709 | €98,906 | ▲ 27.3% |
| Transfer from tax-exempt reserves789 | - | €813 | €813 | €813 | €38,703 | ▲ 4,661% |
| Transfer to tax-exempt reserves689 | - | - | - | €21,050 | - | - |
| Profit (loss) for the period to be appropriated9905 | €8,809 | €8,486 | €48,752 | €57,472 | €137,609 | ▲ 139% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €567,263 | €426,344 | €539,287 | €518,463 | €581,126 | ▲ 12.1% |
| Fixed assets21/28 | €480,064 | €355,479 | €482,698 | €478,643 | €511,059 | ▲ 6.8% |
| Tangible fixed assets22/27 | €290,566 | €280,441 | €407,661 | €403,605 | €436,021 | ▲ 8.0% |
| Land and buildings22 | - | €242,557 | €343,600 | €333,099 | €379,618 | ▲ 14.0% |
| Plant, machinery and equipment23 | - | €28,937 | €48,149 | €59,208 | €49,308 | ▼ 16.7% |
| Furniture and vehicles24 | - | €8,946 | €15,911 | €11,298 | €7,095 | ▼ 37.2% |
| Financial fixed assets28 | €189,498 | €75,038 | €75,038 | €75,038 | €75,038 | = |
| Current assets29/58 | €87,199 | €70,865 | €56,589 | €39,820 | €70,067 | ▲ 76.0% |
| Stocks and contracts in progress3 | €11,430 | €10,731 | €10,235 | €9,892 | €8,843 | ▼ 10.6% |
| Stocks30/36 | - | €10,731 | €10,235 | €9,892 | €8,843 | ▼ 10.6% |
| Amounts receivable within one year40/41 | €40,119 | €46,670 | €38,651 | €23,006 | €34,025 | ▲ 47.9% |
| Trade receivables40 | - | €6,347 | €4,696 | €510 | €1,184 | ▲ 132% |
| Other amounts receivable41 | - | €40,323 | €33,955 | €22,496 | €32,841 | ▲ 46.0% |
| Cash at bank and in hand54/58 | €32,910 | €11,512 | €6,235 | €5,499 | €25,255 | ▲ 359% |
| Deferred charges and accrued income490/1 | - | €1,953 | €1,467 | €1,423 | €1,944 | ▲ 36.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €567,263 | €426,344 | €539,287 | €518,463 | €581,126 | ▲ 12.1% |
| Equity10/15 | €169,520 | €169,193 | €193,132 | €245,841 | €244,747 | ▼ 0.4% |
| Contributions10/11 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Capital10 | - | €20,000 | €20,000 | - | - | - |
| Issued capital100 | - | €20,000 | €20,000 | - | - | - |
| Reserves13 | €149,049 | €148,236 | €172,423 | €222,660 | €223,957 | ▲ 0.6% |
| Non-distributable reserves130/1 | - | €2,000 | €2,000 | - | - | - |
| Legal reserve130 | - | €2,000 | €2,000 | - | - | - |
| Tax-exempt reserves132 | - | €41,236 | €40,423 | €60,660 | €21,957 | ▼ 63.8% |
| Distributable reserves133 | - | €105,000 | €130,000 | €162,000 | €202,000 | ▲ 24.7% |
| Profit (loss) carried forward14 | €471 | €957 | €709 | €3,181 | €790 | ▼ 75.2% |
| Provisions and deferred taxes16 | €10,297 | €9,965 | €9,632 | €9,300 | €8,968 | ▼ 3.6% |
| Deferred taxes168 | - | €9,965 | €9,632 | €9,300 | €8,968 | ▼ 3.6% |
| Amounts payable17/49 | €387,446 | €247,186 | €336,523 | €263,322 | €327,411 | ▲ 24.3% |
| Amounts payable after more than one year17 | €156,322 | €156,323 | €173,476 | €135,631 | €131,726 | ▼ 2.9% |
| Financial debts170/4 | - | €156,323 | €173,476 | €135,631 | €131,726 | ▼ 2.9% |
| Amounts payable within one year42/48 | €229,598 | €89,324 | €160,489 | €124,613 | €192,235 | ▲ 54.3% |
| Current portion of amounts payable after more than one year42 | - | €34,786 | €44,288 | €37,845 | €48,367 | ▲ 27.8% |
| Trade debts44 | €4,955 | €11,307 | €12,631 | €5,641 | €3,381 | ▼ 40.1% |
| Suppliers440/4 | - | €11,307 | €12,631 | €5,641 | €3,381 | ▼ 40.1% |
| Taxes, remuneration and social security45 | - | €11,310 | €10,969 | €15,130 | €8,156 | ▼ 46.1% |
| Taxes450/3 | - | €8,960 | €9,445 | €14,226 | €7,066 | ▼ 50.3% |
| Remuneration and social security454/9 | - | €2,351 | €1,525 | €904 | €1,090 | ▲ 20.6% |
| Other amounts payable47/48 | - | €31,921 | €92,601 | €65,997 | €132,331 | ▲ 101% |
| Accrued charges and deferred income492/3 | - | €1,539 | €2,557 | €3,078 | €3,450 | ▲ 12.1% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €24,836 | €7,673 | €47,939 | €77,709 | €98,906 | ▲ 27.3% |
| + Depreciation and write-downs630 | €23,588 | €22,069 | €41,183 | €28,154 | €48,280 | ▲ 71.5% |
| Operating cash flow (approximation) | €48,424 | €29,742 | €89,123 | €105,863 | €147,186 | ▲ 39.0% |
| Investment in fixed assets (approximation) | - | €102,516 | -€168,403 | -€24,099 | -€80,696 | ▼ 235% |
| Change in cash | - | -€21,398 | -€5,276 | -€736 | €19,756 | ▲ 2,783% |
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
2026
07-09
State Gazette act
Capital & shares · RestructuringPower of attorney · Capital · Accounting effect44 facts ▸
State Gazette act
Capital & shares · Restructuring
Power of attorney · Capital · Accounting effect44 facts ▸
- Power of attorney, THONON Clara Anne Bernard
- Capital, €20.000
- Other statement, absence de rapports 12:77 et 12:78, article 5:133 du Code des sociétés et des associations
- Other statement, formation des capitaux propres, fraction des capitaux propres de la société scindée, formée par le quotient des fonds propres transférés par voie de scission à…
- Other statement, à défaut de pouvoir appliquer les dispositions générales ou particulières permettant de déterminer le sort d'un élément patrimonial, cet élément sera tenu pour…
- Other statement, réduction du capital statutaire, 118323.79
- Accounting effect, 01-01-2026
- Share issue, 58800, EUR
- Shareholding, 58653, inscription au registre des actions nominatives
- Shareholding, 147, inscription au registre des actions nominatives
- Declaration, aucun avantage particulier réservé aux membres des organes de gestion, actions attribuées visées par les rapports du réviseur
- Declaration, évolution significative du patrimoine, Néant
- +32 further facts in this act
23-07
State Gazette act
RestructuringDemerger · Real estate · Share issue14 facts ▸
State Gazette act
Restructuring
Demerger · Real estate · Share issue14 facts ▸
- Demerger, Transfert de la branche d'activité immobilière (villégiature) de PB à IMMOGEM
- Demerger, Transfert de la branche d'activité immobilière (villégiature) de TOMOE à IMMOGEM
- Real estate, 137.400,69 €
- Real estate, 173.878,14 €
- Share issue, actions sans désignation de valeur nominale, 117600
- Accounting effect, 01-01-2026
- Share conversion, 150000, 1500
- Share-exchange ratio, 1 action PB = 29,4 actions IMMOGEM, 1 action TOMOE = 235,20 actions IMMOGEM
- Share distribution, 117600, 58.653 actions + 147 actions
- Liability transfer, Autres dettes (chalet en France)
- Liability transfer, Dettes bancaires (chalet France)
- Equity compensation, 118.323,79 €
- +2 further facts in this act
2025
09-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2018net €98,906 ▲27.3%
Net result €98,906, the highest in the series.
29-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Equity above €200,000Eq €245,841 ▲27.3%
6 profitable years in a row build equity to €245,841.
28-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
17-05
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Weakest financial yearnet €7,673 ▼69.1%
Net result drops to €7,673, the lowest in the series; recovery starts the following year.
02-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
20-05
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Equity above €150,000Eq €151,684 ▲15.2%
2 profitable years in a row build equity to €151,684.
Show earlier events
17-05
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
23-05
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
30-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
2 of 7 acts read
About the unread acts
Of the 7 Belgian State Gazette acts we know for this company, 2 have been read. The other 5 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
7 acts for this company are in the Belgian State Gazette, of which we have read 2. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Liège · 1 establishment unit since 2011
Ground area
154 m²
Building footprint
42 m²
Volume, LiDAR
443 m³
Parcel 62113B0383/00R000, Wallonia · tallest building 16.4 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
PB
since 20112.201.542.583
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62113B0383/00R000 | Wallonia | 154 m² | 1 · 42 m² | 16.4 m · 3 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.
Articles of association
Purpose
Poursuivre ses activités telles que rappelées au projet de scission
Other statement
Établissement par l'organe de gestion d'un rapport exposant la situation patrimoniale des sociétés participant à la scission et justifiant du point de vue jurid…
Établissement par le commissaire ou, à défaut, un Réviseur d'entreprises ou d'un Expert-comptable externe, d'un rapport et d'une déclaration sur le projet de sc…
Mission au notaire soussigné d'établir et de déposer la coordination des statuts
Voting rule
Majorité simple, 1
Transfer restriction
One provision in the deed
Structure & network
Connections & network
No current directors or connected companies found in the register.
Acquisitions and mergers
1 transactionSplit off to:IMMOGEM
Capital and shareholders
Shareholders according to the acts
Stated in the act
act of 07-09-2026 ↗
- HARDY Martin Nicolas Marc Dominique Jean-Luc 1,950 shares
- LE MARCHAND Bruno Michel Marie Guy 50 shares
The Belgian State Gazette names shareholders only when an act mentions them; the share register itself is not published.
Capital over the years
- 07-09-2026 Capital reduction of 118,323.79 EUR · transfer_to_beneficiary
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Of 505 companies in sector 47713 we hold annual accounts for 196. 132 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded31-05-2011
Fiscal year end31-12
Activities, NACEBEL 2025
47713Retail trade
46180Agents specialised in the wholesale of other particular products
46190Agents in non-specialised wholesale trade
47750Retail sale of cosmetics and toilet articles
47789Other retail sale of new goods
68201Renting and operating of own or leased residential real estate, excluding social housing
70200Business and other management consultancy
Scores and ratios are computed by Checked and are not a credit decision.