PBO
ActiveSummary
PBO has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €6,311 and a net result of €27,855. Equity is growing by ~15.8% per year across the filed fiscal years. Its solvency ranks better than 10% of 8782 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability89▲+13
Solvency29▲+18
Growth78▲+20
Track record100
Bankruptcy probability, 12 months
0.4%
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
3.7%
Return on assets
16.3%
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 10% of 8782 sector peers (2025).
NBB · sector comparisonPosition among 8782 sector peers
Solvency
better than 10%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 18-08-2026, 18 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 5 filingsDeviation from the deadline
2025
18 d late
2024
27 d late
2023
30 d late
2022
28 d late
2021
22 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 25 days after 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 27 August (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
€6,311
2024 · -€21,544
Total assets
€170,775▲ 9.0%
2024 · €156,615
Net result
€27,855▲ 206%
2024 · €9,103
Working capital
-€1,326▲ 95.8%
2024 · -€31,285
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-€5,799--€10,240▼ 76.6%€2,610€20,048▲ 668%€46,005▲ 129%
Net result-€15,268below the sector's middle half--€16,569below the sector's middle half▼ 8.5%-€3,810below the sector's middle half▲ 77.0%€9,103within the sector's middle half€27,855within the sector's middle half▲ 206%
Equity-€10,268below the sector's middle half--€26,837below the sector's middle half▼ 161%-€30,647below the sector's middle half▼ 14.2%-€21,544below the sector's middle half▲ 29.7%€6,311below the sector's middle half
Total assets€199,787below the sector's middle half-€178,807below the sector's middle half▼ 10.5%€168,557below the sector's middle half▼ 5.7%€156,615below the sector's middle half▼ 7.1%€170,775below the sector's middle half▲ 9.0%
Debt€210,056-€205,644▼ 2.1%€199,204▼ 3.1%€178,159▼ 10.6%€164,464▼ 7.7%
Working capital-€27,588within the sector's middle half--€41,423within the sector's middle half▼ 50.1%-€42,706within the sector's middle half▼ 3.1%-€31,285within the sector's middle half▲ 26.7%-€1,326within the sector's middle half▲ 95.8%
Solvency-5.1%below the sector's middle half--15.0%below the sector's middle half▼ 9.9pp-18.2%below the sector's middle half▼ 3.2pp-13.8%below the sector's middle half▲ 4.4pp3.7%below the sector's middle half▲ 17.5pp
Current ratio0.34below the sector's middle half-0.17below the sector's middle half▼ 0.170.24below the sector's middle half▲ 0.070.35below the sector's middle half▲ 0.110.97within the sector's middle half▲ 0.62
Return on assets (ROA)-7.6%below the sector's middle half--9.3%below the sector's middle half▼ 1.6pp-2.3%below the sector's middle half▲ 7.0pp5.8%within the sector's middle half▲ 8.1pp16.3%above the sector's middle half▲ 10.5pp
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
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 129% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €170,775
Fixed assets
€124,828 ▼ 10.8%
Current assets
€45,946 ▲ 176%
Equity and liabilities €170,775
Equity
€6,311
Debt
€164,464
Debt finances 96.3% of the balance-sheet total.
Key figures and ratios
EBITDA
€61,119▲
2024 · €35,162
Cash flow
€42,969▲
2024 · €24,218
Debt to equity
26.06
ROE
441.4%
Interest coverage
22.58▲
2024 · 12.99
Debt ≤ 1 year
€47,272▼
2024 · €47,958
Debt > 1 year
€117,191▼
2024 · €130,201
Income taxes
€15,448▲
2024 · €8,238
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 0.4% 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €24,707 | €15,114 | €15,114 | €15,114 | €15,114 | = |
| Other operating charges640/8 | €796 | €1,450 | €523 | €553 | €520 | ▼ 6.0% |
| Gross operating margin9900 | €19,704 | €6,324 | €18,248 | €35,715 | €61,639 | ▲ 72.6% |
| Operating profit (loss)9901 | -€5,799 | -€10,240 | €2,610 | €20,048 | €46,005 | ▲ 129% |
| Financial income75/76B | - | - | - | - | €4 | - |
| Recurring financial income75 | - | - | - | - | €4 | - |
| Financial charges65/66B | €6,017 | €3,333 | €2,755 | €2,706 | €2,707 | = |
| Recurring financial charges65 | €6,017 | €3,333 | €2,755 | €2,706 | €2,707 | = |
| Profit (loss) for the period before taxes9903 | -€11,815 | -€13,573 | -€145 | €17,341 | €43,302 | ▲ 150% |
| Income taxes67/77 | €3,453 | €2,996 | €3,665 | €8,238 | €15,448 | ▲ 87.5% |
| Profit (loss) for the period9904 | -€15,268 | -€16,569 | -€3,810 | €9,103 | €27,855 | ▲ 206% |
| Profit (loss) for the period to be appropriated9905 | -€15,268 | -€16,569 | -€3,810 | €9,103 | €27,855 | ▲ 206% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €199,787 | €178,807 | €168,557 | €156,615 | €170,775 | ▲ 9.0% |
| Fixed assets21/28 | €185,286 | €170,171 | €155,057 | €139,943 | €124,828 | ▼ 10.8% |
| Tangible fixed assets22/27 | €185,286 | €170,171 | €155,057 | €139,943 | €124,828 | ▼ 10.8% |
| Land and buildings22 | €185,286 | €170,171 | €155,057 | €139,943 | €124,828 | ▼ 10.8% |
| Current assets29/58 | €14,502 | €8,636 | €13,500 | €16,672 | €45,946 | ▲ 176% |
| Amounts receivable within one year40/41 | - | - | €1,800 | €255 | - | - |
| Trade receivables40 | - | - | €1,785 | - | - | - |
| Other amounts receivable41 | - | - | €15 | €255 | - | - |
| Cash at bank and in hand54/58 | €14,482 | €8,636 | €11,677 | €16,392 | €45,864 | ▲ 180% |
| Deferred charges and accrued income490/1 | €20 | - | €23 | €26 | €82 | ▲ 219% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €199,787 | €178,807 | €168,557 | €156,615 | €170,775 | ▲ 9.0% |
| Equity10/15 | -€10,268 | -€26,837 | -€30,647 | -€21,544 | €6,311 | ▲ 129% |
| Contributions10/11 | €5,000 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Reserves13 | - | - | - | €9,103 | €36,958 | ▲ 306% |
| Distributable reserves133 | - | - | - | €9,103 | €36,958 | ▲ 306% |
| Profit (loss) carried forward14 | -€15,268 | -€31,837 | -€35,647 | -€35,647 | -€35,647 | = |
| Amounts payable17/49 | €210,056 | €205,644 | €199,204 | €178,159 | €164,464 | ▼ 7.7% |
| Amounts payable after more than one year17 | €167,966 | €155,585 | €142,998 | €130,201 | €117,191 | ▼ 10.0% |
| Financial debts170/4 | €167,966 | €155,585 | €142,998 | €130,201 | €117,191 | ▼ 10.0% |
| Amounts payable within one year42/48 | €42,090 | €50,059 | €56,206 | €47,958 | €47,272 | ▼ 1.4% |
| Current portion of amounts payable after more than one year42 | €12,178 | €12,381 | €12,587 | €12,797 | €13,010 | ▲ 1.7% |
| Trade debts44 | €3,148 | €7,104 | €7,105 | €3,585 | €3,550 | ▼ 1.0% |
| Suppliers440/4 | €3,148 | €7,104 | €7,105 | €3,585 | €3,550 | ▼ 1.0% |
| Advances received on contracts in progress46 | - | - | €1,785 | - | - | - |
| Taxes, remuneration and social security45 | €10,438 | €10,004 | €11,777 | €9,855 | €12,934 | ▲ 31.2% |
| Taxes450/3 | €10,438 | €10,004 | €11,777 | €9,855 | €12,934 | ▲ 31.2% |
| Other amounts payable47/48 | €16,324 | €20,571 | €22,952 | €21,721 | €17,779 | ▼ 18.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€15,268 | -€16,569 | -€3,810 | €9,103 | €27,855 | ▲ 206% |
| + Depreciation and write-downs630 | €24,707 | €15,114 | €15,114 | €15,114 | €15,114 | = |
| Operating cash flow (approximation) | €9,439 | -€1,454 | €11,304 | €24,218 | €42,969 | ▲ 77.4% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€5,846 | €3,041 | €4,715 | €29,472 | ▲ 525% |
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
18-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 18 days late
2025
31-12
Financial
Highest result since 2021net €27,855 ▲206%
Operating result €46,005, net result €27,855, both a record.
27-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 27 days late
2024
31-12
Financial
Back to profitnet €9,103
Net result €9,103 after 3 loss-making years.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 30 days late
2023
28-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 28 days late
2022
31-12
Financial
Weakest financial yearnet -€16,569
Net result drops to -€16,569, the lowest in the series; recovery starts the following year.
22-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 22 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not 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 1 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Mechelen · 1 establishment unit since 2020
Ground area
845 m²
Building footprint
90 m²
Volume, LiDAR
669 m³
Parcel 12403E0491/00X005, Flanders · tallest building 17.6 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
PBO
since 20202.301.099.227
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12403E0491/00X005 | Flanders | 845 m² | 1 · 90 m² | 17.6 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 82,601 companies in this sector we hold annual accounts for 52,629. 17,912 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
Founded19-03-2020
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
64210Activities of holding companies
E-invoicing
Reachable via Peppol
Peppol ID
0208:0745532694
Also
9925:BE0745532694
Registered
20-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.