PBL
ActiveSummary
PBL has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €76,735 and a net result of €3,400. Equity is growing by ~6.3% per year across the filed fiscal years. Its solvency ranks better than 34% of 18458 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability37▼-9
Solvency41=
Growth53▼-17
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3,000 at 30 days only on tighter terms
Liquidity tight (current ratio 1.16 against 1.16 in 2024; short-term debt: 84.5% and cash: 4.9% of total assets), and 84.5% of the assets are financed with debt.
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Signals
Five 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
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
15.5%
Return on assets
0.7%
Age of the figures
9 mo
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 16-07-2026, 15 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
15 d early
2024
on the day
2023
on the day
2022
on the day
2021
22 d late
2020
26 d late
2019
80 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 16 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 46% 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.
Companies Code · seven monthsPosition in the running window
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file What other support did companies like this one receive, and it did not?Subsidy mirror How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
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Financials · fiscal year 2025, micro schema
Turnover
€1.5m▲ 6.3%
2018 · €1.4m
EBIT margin
0.6%▼ 0.1pp
2018 · 0.7%
Net result
€3,400▼ 52.4%
2024 · €7,149
Working capital
€68,331▲ 9.8%
2024 · €62,212
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
Line20212022202320242025
Turnover
Operating result€25,793▲ 266%€9,155▼ 64.5%€11,322▲ 23.7%€19,881▲ 75.6%€14,292▼ 28.1%
Net result€13,100▲ 1,057%€85▼ 99.4%€231▲ 173%€7,149▲ 2,996%€3,400▼ 52.4%
EBIT margin
Equity€65,870▲ 24.8%€65,955▲ 0.1%€66,186▲ 0.4%€73,335▲ 10.8%€76,735▲ 4.6%
Total assets€195,358▲ 10.9%€219,295▲ 12.3%€353,168▲ 61.0%€457,468▲ 29.5%€493,728▲ 7.9%
Debt€129,487▲ 5.0%€153,340▲ 18.4%€286,982▲ 87.2%€384,133▲ 33.9%€416,993▲ 8.6%
Working capital€48,253▲ 41.3%€55,699▲ 15.4%€48,448▼ 13.0%€62,212▲ 28.4%€68,331▲ 9.8%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 28% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €493,728
Fixed assets
€8,404 ▼ 24.4%
Current assets
€485,324 ▲ 8.7%
Equity and liabilities €493,728
Equity
€76,735 ▲ 4.6%
Debt
€416,993 ▲ 8.6%
Debt's share of the balance-sheet total rises from 84.0% to 84.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€17,159▼
2024 · €26,497
Cash flow
€6,267▼
2024 · €13,764
Current ratio
1.16▲
2024 · 1.16
Quick ratio
0.06▲
2024 · 0.04
Debt to equity
5.43▲
2024 · 5.24
ROE
4.4%▼
2024 · 9.7%
ROA
0.7%▼
2024 · 1.6%
Interest coverage
2.09▼
2024 · 3.07
Debt ≤ 1 year
€416,993▲
2024 · €384,133
Income taxes
€2,686▼
2024 · €4,115
Staff costs
€11,088▲
2024 · €1,371
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €15,000 | - | - | - | - | - |
| Remuneration, social security and pensions62 | €54 | - | - | €1,371 | €11,088 | ▲ 709% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9,907 | €10,370 | €12,304 | €6,615 | €2,867 | ▼ 56.7% |
| Other operating charges640/8 | €2,687 | €2,353 | €16,030 | €11,941 | €13,990 | ▲ 17.2% |
| Gross operating margin9900 | €38,441 | €21,878 | €39,656 | €39,808 | €42,238 | ▲ 6.1% |
| Operating profit (loss)9901 | €25,793 | €9,155 | €11,322 | €19,881 | €14,292 | ▼ 28.1% |
| Financial income75/76B | €1 | €0 | €291 | €0 | €0 | ▼ 21.1% |
| Recurring financial income75 | €1 | €0 | €291 | €0 | €0 | ▼ 21.1% |
| Financial charges65/66B | €5,955 | €7,181 | €8,756 | €8,618 | €8,206 | ▼ 4.8% |
| Recurring financial charges65 | €5,955 | €7,181 | €8,756 | €8,618 | €8,206 | ▼ 4.8% |
| Profit (loss) for the period before taxes9903 | €19,839 | €1,975 | €2,858 | €11,264 | €6,087 | ▼ 46.0% |
| Income taxes67/77 | €6,739 | €1,890 | €2,627 | €4,115 | €2,686 | ▼ 34.7% |
| Profit (loss) for the period9904 | €13,100 | €85 | €231 | €7,149 | €3,400 | ▼ 52.4% |
| Profit (loss) for the period to be appropriated9905 | €13,100 | €85 | €231 | €7,149 | €3,400 | ▼ 52.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €195,358 | €219,295 | €353,168 | €457,468 | €493,728 | ▲ 7.9% |
| Fixed assets21/28 | €25,531 | €15,425 | €17,737 | €11,122 | €8,404 | ▼ 24.4% |
| Tangible fixed assets22/27 | €25,531 | €15,425 | €17,737 | €11,122 | €8,255 | ▼ 25.8% |
| Plant, machinery and equipment23 | €2,293 | €1,937 | €6,860 | €4,919 | €2,987 | ▼ 39.3% |
| Furniture and vehicles24 | €23,238 | €13,488 | €4,869 | €863 | €595 | ▼ 31.0% |
| Other tangible fixed assets26 | - | - | €6,008 | €5,341 | €4,673 | ▼ 12.5% |
| Financial fixed assets28 | - | - | - | - | €149 | - |
| Current assets29/58 | €169,826 | €203,869 | €335,431 | €446,346 | €485,324 | ▲ 8.7% |
| Stocks and contracts in progress3 | €118,591 | €183,961 | €322,951 | €430,951 | €460,981 | ▲ 7.0% |
| Stocks30/36 | €118,591 | €183,961 | €322,951 | €430,951 | €460,981 | ▲ 7.0% |
| Amounts receivable within one year40/41 | - | €896 | €997 | €0 | €165 | - |
| Other amounts receivable41 | - | €896 | €997 | €0 | €165 | - |
| Cash at bank and in hand54/58 | €51,236 | €19,013 | €11,482 | €15,395 | €24,178 | ▲ 57.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €195,358 | €219,295 | €353,168 | €457,468 | €493,728 | ▲ 7.9% |
| Equity10/15 | €65,870 | €65,955 | €66,186 | €73,335 | €76,735 | ▲ 4.6% |
| Contributions10/11 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | €45,870 | €45,955 | €46,186 | €53,335 | €56,735 | ▲ 6.4% |
| Non-distributable reserves130/1 | €2,233 | €2,233 | €2,233 | €0 | - | - |
| Reserves not available under the articles1311 | €2,233 | €2,233 | €2,233 | €0 | - | - |
| Distributable reserves133 | €43,637 | €43,722 | €43,953 | €53,335 | €56,735 | ▲ 6.4% |
| Amounts payable17/49 | €129,487 | €153,340 | €286,982 | €384,133 | €416,993 | ▲ 8.6% |
| Amounts payable after more than one year17 | €7,914 | €5,169 | €0 | - | - | - |
| Financial debts170/4 | €2,745 | - | - | - | - | - |
| Other amounts payable178/9 | €5,169 | €5,169 | €0 | - | - | - |
| Amounts payable within one year42/48 | €121,573 | €148,171 | €286,982 | €384,133 | €416,993 | ▲ 8.6% |
| Current portion of amounts payable after more than one year42 | €6,450 | €2,745 | €0 | - | - | - |
| Trade debts44 | €54,515 | €66,848 | €56,011 | €54,284 | €62,245 | ▲ 14.7% |
| Suppliers440/4 | €54,515 | €66,848 | €56,011 | €54,284 | €62,245 | ▲ 14.7% |
| Taxes, remuneration and social security45 | €8,672 | €10,521 | €1,517 | €8,844 | €11,173 | ▲ 26.3% |
| Taxes450/3 | €8,672 | €10,521 | €1,517 | €8,844 | €11,173 | ▲ 26.3% |
| Other amounts payable47/48 | €51,936 | €68,056 | €229,454 | €321,006 | €343,576 | ▲ 7.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €13,100 | €85 | €231 | €7,149 | €3,400 | ▼ 52.4% |
| + Depreciation and write-downs630 | €9,907 | €10,370 | €12,304 | €6,615 | €2,867 | ▼ 56.7% |
| Operating cash flow (approximation) | €23,006 | €10,454 | €12,535 | €13,764 | €6,267 | ▼ 54.5% |
| Investment in fixed assets (approximation) | - | -€264 | -€14,616 | €0 | -€149 | - |
| Change in cash | - | -€32,222 | -€7,531 | €3,912 | €8,783 | ▲ 124% |
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
16-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet €85 ▼99.4%
Net result drops to €85, the lowest in the series; recovery starts the following year.
22-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 22 days late
2021
31-12
Financial
Highest result since 2018net €13,100 ▲1,057%
Operating result €25,793, net result €13,100, both a record.
26-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 26 days late
2020
19-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 80 days late
2019
26-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 26 days late
2018
31-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
24-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 37 acts read
About the unread acts
We know of 37 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
37 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Aalst · 3 establishment units since 2004
Ground area
5,626 m²
Building footprint
1,199 m²
Volume, LiDAR
1,089 m³
3 parcels, Flanders · tallest building 12.6 m, ±4 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
3 establishment units
CHEEMA
since 20042.139.669.748
CHEEMA
since 20052.147.496.361
Buurtwinkel Cheema
since 20252.368.361.896
3 parcels
Flanders
3
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41303D0764/00Z004 | Flanders | 5,412 m² | 1 · 1,076 m² | - |
| 41002A0566/00B000 | Flanders | 123 m² | 1 · 51 m² | 12.6 m · 4 fl. |
| 41303D0773/00D006 | Flanders | 91 m² | 1 · 72 m² | 10.5 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
3 of 3 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 3 entries · 6,000 EUR awarded · 6,000 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 2,000 EUR | 2,000 EUR |
| 2023 | 1 | 2,000 EUR | 2,000 EUR |
| 2022 | 1 | 2,000 EUR | 2,000 EUR |
Schemes
Recognitions · licences · registrations
Food safety, FASFC
3 sitesAalst2.139.669.748
Aalst2.147.496.361
Aalst2.368.361.896
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Of 10,510 companies in sector 47110 we hold annual accounts for 5,847. 4,669 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
Founded11-06-2004
Fiscal year end31-12
Activities, NACEBEL 2025
47110Non-specialised retail sale with food, beverages or tobacco predominating
Scores and ratios are computed by Checked and are not a credit decision.