PB Advisory Services
ActiveSummary
PB Advisory Services has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €5,578 and a net result of €95,579. Equity is shrinking by ~16% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2028. Its solvency ranks better than 11% of 8871 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency29▼-2
Growth58=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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 2025Solvency, return and age of the figures
Solvency
3.9%
Return on assets
67.1%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 11% of 8871 sector peers (2025).
NBB · sector comparisonPosition among 8871 sector peers
Solvency
better than 11%
← weakest
strongest →
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 01-07-2026, 30 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
30 d early
2024
51 d early
2023
70 d early
2022
66 d early
2021
46 d early
2020
52 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 53 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (2)
neutral · 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 10 June (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€5,578▼ 44.2%
2024 · €9,999
Total assets
€142,388▼ 15.5%
2024 · €168,521
Net result
€95,579▲ 9.4%
2024 · €87,386
Working capital
€251
2024 · -€4,320
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€60,215▼ 12.6%€107,631▲ 78.7%€139,133▲ 29.3%€119,162▼ 14.4%€126,108▲ 5.8%
Net result€42,525within the sector's middle half▼ 7.5%€77,574within the sector's middle half▲ 82.4%€101,447within the sector's middle half▲ 30.8%€87,386within the sector's middle half▼ 13.9%€95,579within the sector's middle half▲ 9.4%
Equity€13,592below the sector's middle half▼ 35.5%€21,166below the sector's middle half▲ 55.7%€22,614below the sector's middle half▲ 6.8%€9,999below the sector's middle half▼ 55.8%€5,578below the sector's middle half▼ 44.2%
Total assets€171,188below the sector's middle half▲ 27.8%€172,140below the sector's middle half▲ 0.6%€192,632below the sector's middle half▲ 11.9%€168,521below the sector's middle half▼ 12.5%€142,388below the sector's middle half▼ 15.5%
Debt€157,596▲ 39.7%€150,974▼ 4.2%€170,019▲ 12.6%€158,521▼ 6.8%€136,810▼ 13.7%
Working capital-€20,090within the sector's middle half▼ 228%-€14,081within the sector's middle half▲ 29.9%€1,137within the sector's middle half-€4,320within the sector's middle half€251within the sector's middle half
Solvency7.9%below the sector's middle half▼ 7.8pp12.3%below the sector's middle half▲ 4.4pp11.7%below the sector's middle half▼ 0.6pp5.9%below the sector's middle half▼ 5.8pp3.9%below the sector's middle half▼ 2.0pp
Current ratio0.86within the sector's middle half▼ 0.060.91within the sector's middle half▲ 0.051.01within the sector's middle half▲ 0.100.97within the sector's middle half▼ 0.031.00within the sector's middle half▲ 0.03
Return on assets (ROA)24.8%above the sector's middle half▼ 9.5pp45.1%above the sector's middle half▲ 20.2pp52.7%above the sector's middle half▲ 7.6pp51.9%above the sector's middle half▼ 0.8pp67.1%above the sector's middle half▲ 15.3pp
Staff (FTE)0within the sector's middle half
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 6% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €142,388
Fixed assets
€5,727 ▼ 60.0%
Current assets
€136,661 ▼ 11.4%
Equity and liabilities €142,388
Equity
€5,578 ▼ 44.2%
Debt
€136,810 ▼ 13.7%
Debt's share of the balance-sheet total rises from 94.1% to 96.1%. Equity and debt are lower.
Key figures and ratios
EBITDA
€127,839▼
2024 · €133,102
Cash flow
€97,311▼
2024 · €101,325
Debt to equity
24.52▲
2024 · 15.85
Interest coverage
229.81▲
2024 · 202.26
Debt ≤ 1 year
€136,410▼
2024 · €158,521
Income taxes
€30,971▼
2024 · €32,468
A ratio outside any meaningful range has been withheld (balance sheet total €142,388, equity €5,578).
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,153 companies that looked in July 2024 the way this one looks now, 1.7% went bankrupt within 24 months and 96% are still going.
- Micro
- 5 to 10 years old
- solvency under 10%
- a profit of 5% of the balance sheet or more
1.7%
went bankrupt
2.2%
stopped otherwise
96%
still going
For this company itself Checked computes a bankruptcy probability of 0.3% 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 497,341 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% | 1.8% |
| 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 2,153 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €11,423 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €12,759 | €13,319 | €13,664 | €13,939 | €1,731 | ▼ 87.6% |
| Other operating charges640/8 | €3,003 | €2,458 | €2,721 | €505 | €646 | ▲ 27.9% |
| Non-recurring operating charges66A | €1,164 | €0 | - | - | - | - |
| Gross operating margin9900 | €77,141 | €123,408 | €155,518 | €133,607 | €128,486 | ▼ 3.8% |
| Operating profit (loss)9901 | €60,215 | €107,631 | €139,133 | €119,162 | €126,108 | ▲ 5.8% |
| Financial income75/76B | €1,927 | €2,331 | €3,227 | €1,349 | €998 | ▼ 26.0% |
| Recurring financial income75 | €1,927 | €2,331 | €3,227 | €1,349 | €998 | ▼ 26.0% |
| Financial charges65/66B | €1,617 | €1,452 | €792 | €658 | €556 | ▼ 15.5% |
| Recurring financial charges65 | €1,617 | €1,452 | €792 | €658 | €556 | ▼ 15.5% |
| Profit (loss) for the period before taxes9903 | €60,525 | €108,510 | €141,567 | €119,854 | €126,550 | ▲ 5.6% |
| Income taxes67/77 | €18,000 | €30,937 | €40,120 | €32,468 | €30,971 | ▼ 4.6% |
| Profit (loss) for the period9904 | €42,525 | €77,574 | €101,447 | €87,386 | €95,579 | ▲ 9.4% |
| Profit (loss) for the period to be appropriated9905 | €42,525 | €77,574 | €101,447 | €87,386 | €95,579 | ▲ 9.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €171,188 | €172,140 | €192,632 | €168,521 | €142,388 | ▼ 15.5% |
| Fixed assets21/28 | €46,886 | €35,247 | €21,583 | €14,319 | €5,727 | ▼ 60.0% |
| Tangible fixed assets22/27 | €46,886 | €35,247 | €21,583 | €13,474 | €5,227 | ▼ 61.2% |
| Plant, machinery and equipment23 | - | - | - | €810 | €610 | ▼ 24.7% |
| Furniture and vehicles24 | €46,886 | €35,247 | €21,583 | €12,664 | €4,617 | ▼ 63.5% |
| Financial fixed assets28 | - | - | - | €845 | €500 | ▼ 40.8% |
| Current assets29/58 | €124,302 | €136,893 | €171,049 | €154,201 | €136,661 | ▼ 11.4% |
| Amounts receivable after more than one year29 | €75,618 | €76,026 | €77,612 | €53,209 | €33,160 | ▼ 37.7% |
| Other amounts receivable291 | €75,618 | €76,026 | €77,612 | €53,209 | €33,160 | ▼ 37.7% |
| Amounts receivable within one year40/41 | €33,468 | €42,896 | €71,097 | €65,677 | €60,186 | ▼ 8.4% |
| Trade receivables40 | €33,140 | €41,939 | €70,823 | €64,126 | €59,552 | ▼ 7.1% |
| Other amounts receivable41 | €327 | €957 | €274 | €1,551 | €635 | ▼ 59.1% |
| Cash at bank and in hand54/58 | €15,216 | €16,954 | €21,195 | €26,776 | €31,449 | ▲ 17.5% |
| Deferred charges and accrued income490/1 | €0 | €1,017 | €1,145 | €8,540 | €11,866 | ▲ 38.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €171,188 | €172,140 | €192,632 | €168,521 | €142,388 | ▼ 15.5% |
| Equity10/15 | €13,592 | €21,166 | €22,614 | €9,999 | €5,578 | ▼ 44.2% |
| Contributions10/11 | €100 | €100 | €100 | €100 | €100 | = |
| Reserves13 | €13,492 | €21,066 | €22,514 | €9,899 | €5,478 | ▼ 44.7% |
| Distributable reserves133 | €13,492 | €21,066 | €22,514 | €9,899 | €5,478 | ▼ 44.7% |
| Profit (loss) carried forward14 | €0 | €0 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €157,596 | €150,974 | €170,019 | €158,521 | €136,810 | ▼ 13.7% |
| Amounts payable after more than one year17 | €13,204 | €0 | - | - | - | - |
| Financial debts170/4 | €13,204 | €0 | - | - | - | - |
| Amounts payable within one year42/48 | €144,392 | €150,974 | €169,912 | €158,521 | €136,410 | ▼ 13.9% |
| Current portion of amounts payable after more than one year42 | €19,352 | €13,164 | €0 | - | - | - |
| Financial debts43 | - | €1,902 | €6,754 | €8,452 | €0 | ▼ 100% |
| Credit institutions430/8 | - | €1,902 | €6,754 | €8,452 | €0 | ▼ 100% |
| Trade debts44 | €2,558 | €1,452 | €207 | €3,593 | €4,063 | ▲ 13.1% |
| Suppliers440/4 | €2,558 | €1,452 | €207 | €3,593 | €4,063 | ▲ 13.1% |
| Taxes, remuneration and social security45 | €52,601 | €64,456 | €62,951 | €46,477 | €32,347 | ▼ 30.4% |
| Taxes450/3 | €52,601 | €64,456 | €62,951 | €46,477 | €32,347 | ▼ 30.4% |
| Other amounts payable47/48 | €69,880 | €70,000 | €100,000 | €100,000 | €100,000 | = |
| Accrued charges and deferred income492/3 | - | - | €107 | €0 | €400 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €42,525 | €77,574 | €101,447 | €87,386 | €95,579 | ▲ 9.4% |
| + Depreciation and write-downs630 | €12,759 | €13,319 | €13,664 | €13,939 | €1,731 | ▼ 87.6% |
| Operating cash flow (approximation) | €55,284 | €90,893 | €115,111 | €101,325 | €97,311 | ▼ 4.0% |
| Investment in fixed assets (approximation) | - | -€1,680 | €0 | -€6,675 | €6,861 | ▲ 203% |
| Change in cash | - | €1,738 | €4,240 | €5,581 | €4,673 | ▼ 16.3% |
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
Next filing, fiscal year 2026, expected by
2026
01-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
10-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
22-05
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Highest result since 2020net €101,447 ▲30.8%
Operating result €139,133, net result €101,447, both a record.
26-05
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
15-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Weakest financial yearnet €42,525 ▼7.5%
Net result drops to €42,525, the lowest in the series; recovery starts the following year.
09-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
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.
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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, Antwerpen · 1 establishment unit since 2019
Ground area
3,436 m²
Building footprint
1,972 m²
Volume, LiDAR
23,607 m³
Parcel 11463D0280/00Z000, Flanders · tallest building 16.0 m, ±4 floors. Linked by address, not a title deed.
42
companies at this address
See who is registered here
1 establishment unit
PB Advisory Services
since 20192.295.978.023
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11463D0280/00Z000 | Flanders | 3,436 m² | 1 · 1,972 m² | 16.0 m · 4 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 82,601 companies in this sector we hold annual accounts for 52,629. 16,603 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
Founded14-11-2019
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0737684604
Registered
27-03-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.