PB
ActiveSummary
PB has been active since 2011 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €637,908 and a net result of €741,925. Equity has been growing by about 25% per year since 2018. Its solvency ranks better than 76% of 22,793 sector peers (NACE 47, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 31-05-2011 Normal situation
- Activity
- Retail trade NACE 47713and 6 others
- Establishment unit
- 2.201.542.583 4020 Liège, since 12-05-2011
- Financial year end
- 31 December
- Peppol
- Reachable since 17-10-2025
Board and ownership
Board
Shareholders
- HARDY Martin Nicolas Marc Dominique Jean-Luc1,950 sharesdeed of 07-09-2026
- LE MARCHAND Bruno Michel Marie Guy50 sharesdeed of 07-09-2026
- Holdings
- Shares in 2 companies GESTION MANAGEMENT HOLDING and IMMOGEM
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.1%
Annual accounts 2025
- Gross margin
- €119,399
- ▼ 11.4%
- Turnover
- ≈ €380,000
- estimated
- Profit
- €741,925
- ▲ 650%
- Equity
- €637,908
- ▲ 161%
- Total assets
- €1.0m
- ▲ 72.2%
- Employees on 31-12-2025
- 1
- =
Score breakdownraises riskSector: Retail trade (NACE 47)lowers riskSize: total assets €1.0mFounded in 2011Figures for financial year 2025 (filed on 25-06-2026)Show the evidence
Checked score
Score 2025
97
/ 100
Excellent
Probability in this band: under 0.55%
Financially stronger than 77% of micro companies in retail trade (NACE 47)
Financial strength · tick: 2024
Strong
Solvency
89+22
equity 63.7% of total assets
Liquidity
43+2
short-term debt 26.9% · cash 3.1%
Profitability
100+10
return on assets 74.1%
Bankruptcy probability within 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.2%
01-2025: 0.2%● unchanged vs 12-2024
02-2025: 0.2%● unchanged vs 01-2025
03-2025: 0.2%● unchanged vs 02-2025
04-2025: 0.3%▲ +0.1 percentage points vs 03-2025
05-2025: 0.3%● unchanged vs 04-2025highest value
06-2025: 0.3%● unchanged vs 05-2025
07-2025: 0.1%▼ -0.2 percentage points vs 06-2025
08-2025: 0.1%● unchanged vs 07-2025
09-2025: 0.1%● unchanged vs 08-2025
10-2025: 0.1%● unchanged vs 09-2025
11-2025: 0.1%● unchanged vs 10-2025
12-2025: 0.1%● unchanged vs 11-2025
01-2026: 0.1%● unchanged vs 12-2025
02-2026: 0.1%● unchanged vs 01-2026
03-2026: 0.1%● unchanged vs 02-2026
04-2026: 0.1%● unchanged vs 03-2026
05-2026: 0.2%▲ +0.1 percentage points vs 04-2026
06-2026: 0.2%● unchanged vs 05-2026
07-2026: 0.1%▼ -0.1 percentage points vs 06-2026
08-2026: 0.1%● unchanged vs 07-2026
09-2026: 0.1%● unchanged vs 08-2026lowest value
10-2026: 0.1%● unchanged vs 09-2026lowest value
11-2026: 0.1%● unchanged vs 10-2026lowest value
Credit of up to €60,000 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.4 (0.36 in 2024), below the usual 1.5. Short-term debt is 26.9% and cash 3.1% of total assets. 36.3% of the assets are financed with debt and provisions.
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 47, micro). It does better than 76% of them on solvency, 42% on liquidity, 96% on profitability and 95% on growth.
The bankruptcy probability was computed on 04-11-2026 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 very low class on 30-06-2025, 0.1% 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).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
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 25-06-2026, 36 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
36 days early
2024
52 days early
2023
32 days early
2022
33 days early
2021
75 days early
2020
29 days early
2019
72 days early
← 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 47 days before the deadline. In the sector (NACE 47), the median for financial year 2024 was on the deadline day, and 47% 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 25 June (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
05-11-2026 today31-12-2026 year end31-07-2027 deadline
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 25-06-2026 at the NBB all 10 filings
Turnover
€163,441▲ 3.8%
2021 · €157,411
EBIT margin
35.1%▲ 21.4pp
2021 · 13.7%
Net result
€741,925▲ 650%
2024 · €98,906
Working capital
€107,555
2024 · -€122,168
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
no figure
2025
20182025
Operating result
€64,253
▼ 2.5%
2025
20182025
Net result
€741,925
▲ 650%
2025
highest quarter of the sector
20182025
EBIT margin
no figure
2025
20182025
Equity
€637,908
▲ 161%
2025
highest quarter of the sector
20182025
Total assets
€1.0m
▲ 72.2%
2025
highest quarter of the sector
20182025
Debt
€355,300
▲ 8.5%
2025
20182025
Working capital
€107,555
2025
highest quarter of the sector
20182025
Solvency
63.7%
▲ 21.6pp
2025
highest quarter of the sector
20182025
Current ratio
1.40
▲ 1.03
2025
middle half of the sector
20182025
Return on assets (ROA)
74.1%
▲ 57.1pp
2025
highest quarter of the sector
20182025
Staff (FTE)
1
=
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€0.1m-€0.1m▲ 2.4%€0.1m▲ 1.5%€0.2m▲ 10.1%€0.2m▲ 3.8%
Operating result€0.08m-€0.04m▼ 50.8%€0.03m▼ 12.1%€0.02m▼ 35.3%€0.06m▲ 166%€0.05m▼ 10.5%€0.07m▲ 28.1%€0.06m▼ 2.5%
Net result€0.05m-€0.03m▼ 41.7%€0.02mwithin the sector's middle half▼ 8.0%€0.008mwithin the sector's middle half▼ 69.1%€0.05mwithin the sector's middle half▲ 525%€0.08mabove the sector's middle half▲ 62.1%€0.1mabove the sector's middle half▲ 27.3%€0.7mabove the sector's middle half▲ 650%
EBIT margin56.0%-26.9%▼ 29.1pp23.3%▼ 3.6pp13.7%▼ 9.6pp35.1%▲ 21.4pp
Equity€0.1m-€0.2m▲ 15.2%€0.2mwithin the sector's middle half▲ 11.8%€0.2mwithin the sector's middle half▼ 0.2%€0.2mwithin the sector's middle half▲ 14.1%€0.2mabove the sector's middle half▲ 27.3%€0.2mabove the sector's middle half▼ 0.4%€0.6mabove the sector's middle half▲ 161%
Total assets€0.3m-€0.6m▲ 89.3%€0.6mwithin the sector's middle half▲ 2.4%€0.4mwithin the sector's middle half▼ 24.8%€0.5mwithin the sector's middle half▲ 26.5%€0.5mabove the sector's middle half▼ 3.9%€0.6mabove the sector's middle half▲ 12.1%€1.0mabove the sector's middle half▲ 72.2%
Debt€0.2m-€0.4m▲ 161%€0.4m▼ 1.1%€0.2m▼ 36.2%€0.3m▲ 36.1%€0.3m▼ 21.8%€0.3m▲ 24.3%€0.4m▲ 8.5%
Working capital€0.002m--€0.1m-€0.1mbelow the sector's middle half▼ 1.7%-€0.02mbelow the sector's middle half▲ 87.0%-€0.1mbelow the sector's middle half▼ 463%-€0.08mbelow the sector's middle half▲ 18.4%-€0.1mbelow the sector's middle half▼ 44.1%€0.1mabove the sector's middle half
Solvency45.0%-27.4%▼ 17.6pp29.9%within the sector's middle half▲ 2.5pp39.7%within the sector's middle half▲ 9.8pp35.8%within the sector's middle half▼ 3.9pp47.4%within the sector's middle half▲ 11.6pp42.1%within the sector's middle half▼ 5.3pp63.7%above the sector's middle half▲ 21.6pp
Current ratio1.04-0.33▼ 0.710.38below the sector's middle half▲ 0.050.79below the sector's middle half▲ 0.410.35below the sector's middle half▼ 0.440.32below the sector's middle half▼ 0.030.36below the sector's middle half▲ 0.041.40within the sector's middle half▲ 1.03
Return on assets (ROA)15.8%-4.9%▼ 11.0pp4.4%within the sector's middle half▼ 0.5pp1.8%within the sector's middle half▼ 2.6pp8.9%within the sector's middle half▲ 7.1pp15.0%above the sector's middle half▲ 6.1pp17.0%above the sector's middle half▲ 2.0pp74.1%above the sector's middle half▲ 57.1pp
Staff (FTE)0.1-0.3▲ 200%0.3below the sector's middle half=0.3below the sector's middle half=0.31▲ 233%1=
above
within
below
The sector band is the middle half of the companies in Retail trade (NACE 47). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 2% lower than in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.0m
Fixed assets
€623,464 ▲ 22.0%
Current assets
€377,188 ▲ 438%
Equity and liabilities €1.0m
Equity
€637,908 ▲ 161%
Provisions
€7,445 ▼ 17.0%
Debt
€355,300 ▲ 8.5%
Debt's share of the balance-sheet total falls from 56.3% to 35.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€92,491▼
2024 · €114,151
Cash flow
€770,163▲
2024 · €147,186
Debt to equity
0.56▼
2024 · 1.34
ROE
116.3%▲
2024 · 40.4%
Interest coverage
14.68▲
2024 · 14.30
Debt ≤ 1 year
€269,633▲
2024 · €192,235
Debt > 1 year
€84,530▼
2024 · €131,726
Income taxes
€17,742▲
2024 · €9,379
Staff costs
€23,280▲
2024 · €17,779
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | 1 |
| part-time | 1 | 1 | 1 |
| in full-time equivalents | - | 0.3 | - |
| Average over the year, in full-time equivalents | - | 0.3 | - |
| On a permanent contract | 1 | 1 | 1 |
Source: social balance sheet in the 2023 to 2025 annual accounts
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €48,221 | - | - | - | - |
| Debts guaranteed by Belgian public bodies | - | €36,870 | - | - | - |
| Pledge on other assets, amount secured | €48,221 | €36,870 | €36,870 | €36,870 | - |
| Carrying value of the other pledged assets | €140,909 | €136,212 | €131,516 | €126,819 | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €11,944 | €175,526 | €24,099 | €80,696 | €23,931 |
| Financial fixed assets | - | - | - | - | €116,712 |
| Depreciation and write-downs of the year | €22,069 | €41,183 | €28,154 | €48,280 | €28,238 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | €137,528 | €140,871 | €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 | €23,280 | ▲ 30.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13,534 | €21,533 | €23,588 | €22,069 | €41,183 | €28,154 | €48,280 | €28,238 | ▼ 41.5% |
| Other operating charges640/8 | - | - | - | €7,041 | €5,896 | €4,031 | €2,825 | €3,627 | ▲ 28.4% |
| Gross operating margin9900 | €96,247 | €77,413 | €76,857 | €67,641 | €120,514 | €101,100 | €134,755 | €119,399 | ▼ 11.4% |
| Operating profit (loss)9901 | €77,020 | €37,902 | €33,314 | €21,555 | €57,427 | €51,406 | €65,871 | €64,253 | ▼ 2.5% |
| Financial income75/76B | - | - | - | €23 | €10,263 | €50,016 | €50,067 | €701,427 | ▲ 14× |
| Recurring financial income75 | €25 | €7 | €12,845 | €23 | €10,263 | €50,016 | €50,067 | €701,427 | ▲ 14× |
| Financial charges65/66B | - | - | - | €7,890 | €8,337 | €8,483 | €7,985 | €6,300 | ▼ 21.1% |
| Recurring financial charges65 | €7,742 | €6,687 | €8,363 | €7,890 | €8,337 | €8,483 | €7,985 | €6,300 | ▼ 21.1% |
| Profit (loss) for the period before taxes9903 | €69,303 | €31,223 | €37,796 | €13,688 | €59,353 | €92,939 | €107,953 | €759,380 | ▲ 603% |
| Transfer from deferred taxes780 | - | - | - | €332 | €332 | €332 | €332 | €286 | ▼ 13.8% |
| Income taxes67/77 | €12,000 | €4,559 | €13,292 | €6,347 | €11,746 | €15,562 | €9,379 | €17,742 | ▲ 89.2% |
| Profit (loss) for the period9904 | €46,342 | €26,996 | €24,836 | €7,673 | €47,939 | €77,709 | €98,906 | €741,925 | ▲ 650% |
| Transfer from tax-exempt reserves789 | - | - | - | €813 | €813 | €813 | €38,703 | €859 | ▼ 97.8% |
| Transfer to tax-exempt reserves689 | - | - | - | - | - | €21,050 | - | €42,100 | - |
| Profit (loss) for the period to be appropriated9905 | €19,507 | €27,809 | €8,809 | €8,486 | €48,752 | €57,472 | €137,609 | €700,683 | ▲ 409% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.3m | €0.6m | €0.6m | €0.4m | €0.5m | €0.5m | €0.6m | €1.0m | ▲ 72.2% |
| Fixed assets21/28 | €0.2m | €0.5m | €0.5m | €0.4m | €0.5m | €0.5m | €0.5m | €0.6m | ▲ 22.0% |
| Tangible fixed assets22/27 | €0.04m | €0.3m | €0.3m | €0.3m | €0.4m | €0.4m | €0.4m | €0.4m | ▼ 1.0% |
| Land and buildings22 | - | - | - | €0.2m | €0.3m | €0.3m | €0.4m | €0.4m | ▼ 2.8% |
| Plant, machinery and equipment23 | - | - | - | €0.03m | €0.05m | €0.06m | €0.05m | €0.06m | ▲ 19.6% |
| Furniture and vehicles24 | - | - | - | €0.009m | €0.02m | €0.01m | €0.007m | €0.004m | ▼ 49.1% |
| Financial fixed assets28 | €0.2m | €0.2m | €0.2m | €0.08m | €0.08m | €0.08m | €0.08m | €0.2m | ▲ 156% |
| Current assets29/58 | €0.05m | €0.07m | €0.09m | €0.07m | €0.06m | €0.04m | €0.07m | €0.4m | ▲ 438% |
| Stocks and contracts in progress3 | €0.02m | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | €0.009m | - | - |
| Stocks30/36 | - | - | - | €0.01m | €0.01m | €0.01m | €0.009m | - | - |
| Amounts receivable within one year40/41 | €59 | €0.01m | €0.04m | €0.05m | €0.04m | €0.02m | €0.03m | €0.04m | ▲ 30.3% |
| Trade receivables40 | - | - | - | €0.006m | €0.005m | €0.001m | €0.001m | €109 | ▼ 90.8% |
| Other amounts receivable41 | - | - | - | €0.04m | €0.03m | €0.02m | €0.03m | €0.04m | ▲ 34.7% |
| Current investments50/53 | - | - | - | - | - | - | - | €0.3m | - |
| Cash at bank and in hand54/58 | €0.04m | €0.04m | €0.03m | €0.01m | €0.006m | €0.005m | €0.03m | €0.03m | ▲ 21.9% |
| Deferred charges and accrued income490/1 | - | - | - | €0.002m | €0.001m | €0.001m | €0.002m | €0.002m | ▲ 6.5% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.3m | €0.6m | €0.6m | €0.4m | €0.5m | €0.5m | €0.6m | €1.0m | ▲ 72.2% |
| Equity10/15 | €0.1m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.6m | ▲ 161% |
| Contributions10/11 | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Capital10 | - | - | - | €0.02m | €0.02m | - | - | - | - |
| Issued capital100 | - | - | - | €0.02m | €0.02m | - | - | - | - |
| Reserves13 | €0.1m | €0.1m | €0.1m | €0.1m | €0.2m | €0.2m | €0.2m | €0.6m | ▲ 175% |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | - | - | - | - |
| Legal reserve130 | - | - | - | €0.002m | €0.002m | - | - | - | - |
| Tax-exempt reserves132 | - | - | - | €0.04m | €0.04m | €0.06m | €0.02m | €0.06m | ▲ 193% |
| Distributable reserves133 | - | - | - | €0.1m | €0.1m | €0.2m | €0.2m | €0.6m | ▲ 173% |
| Profit (loss) carried forward14 | €0.001m | €0.002m | €471 | €0.001m | €0.001m | €0.003m | €0.001m | €0.001m | ▲ 86.5% |
| Provisions and deferred taxes16 | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | €0.009m | €0.009m | €0.007m | ▼ 17.0% |
| Deferred taxes168 | - | - | - | €0.01m | €0.01m | €0.009m | €0.009m | €0.007m | ▼ 17.0% |
| Amounts payable17/49 | €0.2m | €0.4m | €0.4m | €0.2m | €0.3m | €0.3m | €0.3m | €0.4m | ▲ 8.5% |
| Amounts payable after more than one year17 | €0.1m | €0.2m | €0.2m | €0.2m | €0.2m | €0.1m | €0.1m | €0.08m | ▼ 35.8% |
| Financial debts170/4 | - | - | - | €0.2m | €0.2m | €0.1m | €0.1m | €0.08m | ▼ 35.8% |
| Amounts payable within one year42/48 | €0.05m | €0.2m | €0.2m | €0.09m | €0.2m | €0.1m | €0.2m | €0.3m | ▲ 40.3% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.03m | €0.04m | €0.04m | €0.05m | €0.04m | ▼ 10.7% |
| Trade debts44 | €0.004m | €0.005m | €0.005m | €0.01m | €0.01m | €0.006m | €0.003m | €0.002m | ▼ 49.2% |
| Suppliers440/4 | - | - | - | €0.01m | €0.01m | €0.006m | €0.003m | €0.002m | ▼ 49.2% |
| Taxes, remuneration and social security45 | - | - | - | €0.01m | €0.01m | €0.02m | €0.008m | €0.02m | ▲ 130% |
| Taxes450/3 | - | - | - | €0.009m | €0.009m | €0.01m | €0.007m | €0.02m | ▲ 133% |
| Remuneration and social security454/9 | - | - | - | €0.002m | €0.002m | €0.001m | €0.001m | €0.002m | ▲ 111% |
| Other amounts payable47/48 | - | - | - | €0.03m | €0.09m | €0.07m | €0.1m | €0.2m | ▲ 55.7% |
| Accrued charges and deferred income492/3 | - | - | - | €0.002m | €0.003m | €0.003m | €0.003m | €0.001m | ▼ 67.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €46,342 | €26,996 | €24,836 | €7,673 | €47,939 | €77,709 | €98,906 | €741,925 | ▲ 650% |
| + Depreciation and write-downs630 | €13,534 | €21,533 | €23,588 | €22,069 | €41,183 | €28,154 | €48,280 | €28,238 | ▼ 41.5% |
| Operating cash flow (approximation) | €59,876 | €48,529 | €48,424 | €29,742 | €89,123 | €105,863 | €147,186 | €770,163 | ▲ 423% |
| Investment in fixed assets (approximation) | - | -€267,035 | -€17,186 | €102,516 | -€168,403 | -€24,099 | -€80,696 | -€140,644 | ▼ 74.3% |
| Change in cash | - | €6,884 | -€10,338 | -€21,398 | -€5,276 | -€736 | €19,756 | €5,522 | ▼ 72.0% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 34,693 companies had the same profile as PB has now. Two years later, 95.3% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.3%
was still going
3.9%
stopped otherwise
0.7%
went bankrupt
That fits the bankruptcy probability of PB itself: 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 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 34,693 companies, not a prediction for PB. 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.
Filings with the National Bank (10)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 25-06-2026 | 2026-00197142 | |
| 31-12-2024 | micro format | 09-06-2025 | 2025-00125909 | |
| 31-12-2023 | micro format | 29-06-2024 | 2024-00188736 | |
| 31-12-2022 | full format | 28-06-2023 | 2023-00167811 | |
| 31-12-2021 | full format | 17-05-2022 | 2022-20027740 | |
| 31-12-2020 | full format | 02-07-2021 | 2021-30500109 | |
| 31-12-2019 | full format | 20-05-2020 | 2020-12700193 | |
| 31-12-2018 | full format | 17-05-2019 | 2019-13200578 | |
| 31-12-2017 | full format | 23-05-2018 | 2018-13600156 | |
| 31-12-2016 | full format | 30-06-2017 | 2017-27400257 |
Board & ownership
Directors
Directors
1 director, last change in 2026
Deed of 23-07-2026Demerger proposal: PB splits off to IMMOGEMPermanent representatives: Mardin HARDY and Muriel MERCHIERS
HARDY Martin Nicolas Marc Dominique Jean-Luc
Current
Statutory director · appointed by deed of 20-12-2023 · earlier manager, until 20-12-2023 · term without a fixed end · also on the board of 1 other company
Owners and capital
Shareholders
Stated in the deed
deed of 07-09-2026 ↗
- HARDY Martin Nicolas Marc Dominique Jean-Luc 1,950 shares
- LE MARCHAND Bruno Michel Marie Guy 50 shares
Stated in the deed
deed of 20-12-2023 ↗
- HARDY Martin Nicolas Marc Dominique Jean-Luc 1,995 shares
- le MARCHAND Bruno Michel Marie Guy 5 shares
Capital transactions
Capital over time
- 07-09-2026 Capital reduction of €118,323.79 · transfer_to_beneficiary
- 20-12-2023 Converted to unavailable equity · €22,000
Mandate history
1 person, 1 in office
- Board
- mandate already running before its first mention
| Name | Functions and periods |
|---|---|
| HARDY Martin Nicolas Marc Dominique Jean-Luc |
|
Articles of association
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- At least 1 director
Articles of association, deed of 20-12-2023 (in French)
Network & group
Holdings and subsidiaries
2 holdingsHoldings 2
- Equity €3.7m Profit of €732,014 in 2025 (profit of €269,022 in 2024)50%
-
share not stated
Holdings through the years 2016 to 2023
| Name | 2016 | 2017 | 2018 | 2019 | 2020 | 2023 |
|---|---|---|---|---|---|---|
| GESTION MANAGEMENT HOLDING | 40.1% | 50% | ||||
Source: list of holdings in its own accounts
Board mandates elsewhere
4 board mandatesBoard mandates of PBPB sits on their board4
Acquisitions and mergers
1 transactionDemerger with:IMMOGEM
Companies at the same address
1 other companyConnections & network
1 connected companyThe connected companies are in the list below.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Linked via shared directors
ANNA-EU
via HARDY Martin Nicolas Marc Dominique Jean-Luc · Organe d'administration et de représentation
Founded in 2017 · total assets €374,626 (2025)
→
Timeline
Deeds, filings and financial milestones
Deadline for the 2026 accounts:
2026
07-09
Gazette deed
Demerger: IMMOGEM splits off to PBCapital decrease of €118,323.79 · Contribution to IMMOGEM: €118,323.79 · HARDY Martin Nicolas Marc Dominique Jean-Luc holds 58,653 shares12 points ▸
Gazette deed
Demerger: IMMOGEM splits off to PB
Capital decrease of €118,323.79 · Contribution to IMMOGEM: €118,323.79 · HARDY Martin Nicolas Marc Dominique Jean-Luc holds 58,653 shares12 points ▸
- Power of attorney, THONON Clara Anne Bernard
- Capital, €20,000, 2,000 shares
- Accounting effect, 01-01-2026
- Share issue, €58,800
- HARDY Martin Nicolas Marc Dominique Jean-Luc holds 58,653 shares, mentioned twice in the deed
- LE MARCHAND Bruno Michel Marie Guy holds 147 shares, mentioned twice in the deed
- Share issue, 58,800, 01-01-2026
- Capital contribution, €118,323.79
- Asset distribution, 01-01-2026
- Asset distribution, 438106.79, 113893.21
- Asset distribution, 1169.43, 16680.62
- Asset distribution, 118323.79, 2396.28
- The deed holds 28 more points.
23-07
Gazette deed
Demerger proposal: PB splits off to IMMOGEMPermanent representatives: Mardin HARDY and Muriel MERCHIERS6 points ▸
Gazette deed
Demerger proposal: PB splits off to IMMOGEM
Permanent representatives: Mardin HARDY and Muriel MERCHIERS6 points ▸
- Director in office, Martin HARDY
- Director in office, Muriel MERCHIERS
- Director in office, PB
- Director in office, TOMOE
- Permanent representative, Mardin HARDY
- Permanent representative, Muriel MERCHIERS
- The deed holds 14 more points.
25-06
micro format · 36 days before the deadline
2025
31-12
Financial
Highest result from 2018 to 2025net €741,925 ▲650%
The net result of €741,925 is the highest of those years.
31-12
Financial
Liquidity more than triplescurrent ratio 1.40
The current ratio rises from 0.36 to 1.40.
31-12
Financial
Equity above €500,000equity €637,908 ▲161%
With a profit in every financial year since 2018, equity grows to €637,908.
09-06
micro format · 52 days before the deadline
2024
29-06
micro format · 32 days before the deadline
2023
31-12
Financial
Equity above €200,000equity €245,841 ▲27.3%
With a profit in every financial year since 2018, equity grows to €245,841.
20-12
Gazette deed
Change of role: HARDY Martin Nicolas Marc Dominique Jean-Luc, from manager to statutory directorLegal-form conversion: from limited partnership to private limited company · HARDY Martin Nicolas Marc Dominique Jean-Luc holds 1,995 shares · le MARCHAND Bruno Michel Marie Guy holds 5 shares10 points ▸
Gazette deed
Change of role: HARDY Martin Nicolas Marc Dominique Jean-Luc, from manager to statutory director
Legal-form conversion: from limited partnership to private limited company · HARDY Martin Nicolas Marc Dominique Jean-Luc holds 1,995 shares · le MARCHAND Bruno Michel Marie Guy holds 5 shares10 points ▸
- General meeting, 14-12-2023, mentioned twice in the deed
- Legal-form conversion, from limited partnership to private limited company
- HARDY Martin Nicolas Marc Dominique Jean-Luc holds 1,995 shares
- le MARCHAND Bruno Michel Marie Guy holds 5 shares
- Capital, €20,000, 2,000 shares
- Registered office clause, Rue des Marêts 88, 4020 Liège, mentioned twice in the deed
- Director resignation, HARDY Martin Nicolas Marc Dominique Jean-Luc (manager), mentioned twice in the deed
- Director discharge, HARDY Martin Nicolas Marc Dominique Jean-Luc
- Director appointment, HARDY Martin Nicolas Marc Dominique Jean-Luc (statutory director), mentioned 3 times in the deed
- Director discharge, HARDY Martin Nicolas Marc Dominique Jean-Luc (manager)
- The deed holds 6 more points.
28-06
full format · 33 days before the deadline
2022
17-05
full format · 75 days before the deadline
Show earlier events
2021
31-12
Financial
Weakest financial yearnet €7,673 ▼69.1%
The net result drops to €7,673, the lowest from 2018 to 2025. It recovers the following year.
02-07
full format · 29 days before the deadline
2020
20-05
full format · 72 days before the deadline
2019
31-12
Financial
Equity above €150,000equity €151,684 ▲15.2%
With a profit in every financial year since 2018, equity grows to €151,684.
17-05
full format · 75 days before the deadline
2018
23-05
full format · 69 days before the deadline
2017
30-06
full format · 31 days before the deadline
2011
15-06
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
PB in French
Enterprise number
0836.688.148
Legal form
Private limited company
Status
Active, normal situation
Founded
31-05-2011
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 20-12-2023 (in French)Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Rue des Marêts, 88 à 4020 LIEGE”
deed of 23-07-2026 (in French)Registered office and establishments
Registered office
Rue des Marêts 88, 4020 Liège, Belgium
Establishment unit
PB, Rue des Marêts 88, 4020 Liège since 12-05-2011 · unit number 2.201.542.583
Activities
NACEBEL 202547713
Retail trade main activity
46180
Agents specialised in the wholesale of other particular products
46190
Agents in non-specialised wholesale trade
47750
Retail sale of cosmetics and toilet articles
47789
Other retail sale of new goods
68201
Renting and operating of own or leased residential real estate, excluding social housing
70200
Business and other management consultancy
Codes under NACEBEL 2008
47713
Retail trade main activity
46180
Wholesale trade
46190
Wholesale trade
47750
Retail trade
47789
Retail trade
68201
Real estate activities
70220
Business consulting
PurposeThe purpose describes the activities the company may carry out under its articles.
“Poursuivre ses activités telles que rappelées au projet de scission”
deed of 07-09-2026 (in French)Invoicing and payment
VAT number
BE 0836.688.148
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Last Friday of April
deed of 20-12-2023 (in French)Voting ruleThe articles set which majority the meeting decides by, for example a simple or a special majority.
“Majorité simple”
deed of 07-09-2026 (in French)Sites & property
Location
Buildings and parcels at the address
Ground area
154 m²
Building footprint
42 m²
Building volume
443 m³
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 62113B0383/00R000 | Wallonia | 154 m² | 1 · 42 m² | 16.4 m · 3 |