PBSIM Engineering
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 08-12-2025 PDF all 9 filings
Equity
-€19,266
2024 · €25,792
Total assets
€8,792▼ 75.5%
2024 · €35,834
Net result
-€45,058
2024 · €6,195
Working capital
-€19,266
2024 · €25,353
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
-€44,644
2025
20192025
Net result
-€45,058
2025
lowest quarter of the sector
20192025
Equity
-€19,266
2025
lowest quarter of the sector
20192025
Total assets
€8,792
▼ 75.5%
2025
lowest quarter of the sector
20192025
Debt
€28,058
▲ 179%
2025
20192025
Working capital
-€19,266
2025
lowest quarter of the sector
20192025
Solvency
-219.1%
▼ 291.1pp
2025
lowest quarter of the sector
20192025
Current ratio
0.31
▼ 3.21
2025
lowest quarter of the sector
20192025
Return on assets (ROA)
-512.5%
▼ 529.8pp
2025
lowest quarter of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€114,220-€82,823▼ 27.5%€19,353▼ 76.6%€50,027▲ 159%€43,008▼ 14.0%€8,964▼ 79.2%-€44,644
Net result€65,896-€52,827above the sector's middle half▼ 19.8%€56,942above the sector's middle half▲ 7.8%€56,135above the sector's middle half▼ 1.4%€33,323within the sector's middle half▼ 40.6%€6,195within the sector's middle half▼ 81.4%-€45,058below the sector's middle half
Equity€162,231-€215,057above the sector's middle half▲ 32.6%€52,000within the sector's middle half▼ 75.8%€19,274below the sector's middle half▼ 62.9%€19,597below the sector's middle half▲ 1.7%€25,792within the sector's middle half▲ 31.6%-€19,266below the sector's middle half
Total assets€196,099-€225,919within the sector's middle half▲ 15.2%€163,672within the sector's middle half▼ 27.6%€106,051within the sector's middle half▼ 35.2%€57,158below the sector's middle half▼ 46.1%€35,834below the sector's middle half▼ 37.3%€8,792below the sector's middle half▼ 75.5%
Debt€33,868-€10,861▼ 67.9%€111,673▲ 928%€86,777▼ 22.3%€37,561▼ 56.7%€10,041▼ 73.3%€28,058▲ 179%
Working capital€155,580-€214,576above the sector's middle half▲ 37.9%€52,000within the sector's middle half▼ 75.8%€17,798within the sector's middle half▼ 65.8%€18,639within the sector's middle half▲ 4.7%€25,353within the sector's middle half▲ 36.0%-€19,266below the sector's middle half
Solvency82.7%-95.2%above the sector's middle half▲ 12.5pp31.8%within the sector's middle half▼ 63.4pp18.2%below the sector's middle half▼ 13.6pp34.3%within the sector's middle half▲ 16.1pp72.0%within the sector's middle half▲ 37.7pp-219.1%below the sector's middle half▼ 291.1pp
Current ratio5.59-20.76above the sector's middle half▲ 15.161.47within the sector's middle half▼ 19.291.21within the sector's middle half▼ 0.261.50within the sector's middle half▲ 0.293.52within the sector's middle half▲ 2.030.31below the sector's middle half▼ 3.21
Return on assets (ROA)33.6%-23.4%above the sector's middle half▼ 10.2pp34.8%above the sector's middle half▲ 11.4pp52.9%above the sector's middle half▲ 18.1pp58.3%above the sector's middle half▲ 5.4pp17.3%within the sector's middle half▼ 41.0pp-512.5%below the sector's middle half▼ 529.8pp
above
within
below
The sector band is the middle half of the companies in Architectural and engineering activities; technical testing and analysis (NACE 71). 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 a loss of €44,644, after a profit of €8,964 in 2024. It is the lowest result since 2021.
Turnover and EBIT margin are not published. The micro format does not require them.
Key figures and ratios
EBITDA
-€44,205▼
2024 · €9,482
Cash flow
-€44,619▼
2024 · €6,714
Interest coverage
-244.48▼
2024 · 40.61
Debt ≤ 1 year
€28,058▲
2024 · €10,041
Income taxes
€234▼
2024 · €2,536
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €1,556 | - | - | - |
| Depreciation and write-downs of the year | €80 | €519 | €519 | €439 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,024 | €6,169 | €482 | €80 | €519 | €519 | €439 | ▼ 15.3% |
| Other operating charges640/8 | - | - | - | €788 | €1,077 | €895 | €908 | ▲ 1.5% |
| Gross operating margin9900 | €122,085 | €89,596 | €20,619 | €50,895 | €44,604 | €10,377 | -€43,297 | - |
| Operating profit (loss)9901 | €114,220 | €82,823 | €19,353 | €50,027 | €43,008 | €8,964 | -€44,644 | - |
| Financial income75/76B | - | - | - | €21,289 | €27 | €1 | €1 | ▲ 22.2% |
| Recurring financial income75 | €7,167 | €9,941 | €26,803 | €21,289 | €27 | €1 | €1 | ▲ 22.2% |
| Financial charges65/66B | - | - | - | €204 | €263 | €233 | €181 | ▼ 22.6% |
| Recurring financial charges65 | €28,510 | €20,604 | -€22,184 | €204 | €263 | €233 | €181 | ▼ 22.6% |
| Profit (loss) for the period before taxes9903 | €92,877 | €72,159 | €68,340 | €71,113 | €42,771 | €8,731 | -€44,824 | - |
| Income taxes67/77 | €26,981 | €19,333 | €11,398 | €14,978 | €9,448 | €2,536 | €234 | ▼ 90.8% |
| Profit (loss) for the period9904 | €65,896 | €52,827 | €56,942 | €56,135 | €33,323 | €6,195 | -€45,058 | - |
| Profit (loss) for the period to be appropriated9905 | €65,896 | €52,827 | €56,942 | €56,135 | €33,323 | €6,195 | -€45,058 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €196,099 | €225,919 | €163,672 | €106,051 | €57,158 | €35,834 | €8,792 | ▼ 75.5% |
| Fixed assets21/28 | €6,651 | €482 | - | €1,477 | €958 | €439 | - | - |
| Tangible fixed assets22/27 | €6,651 | €482 | - | €1,477 | €958 | €439 | - | - |
| Furniture and vehicles24 | - | - | - | €1,477 | €958 | €439 | - | - |
| Current assets29/58 | €189,448 | €225,437 | €163,672 | €104,575 | €56,200 | €35,394 | €8,792 | ▼ 75.2% |
| Amounts receivable within one year40/41 | €25,963 | €40,526 | €23,258 | €14,399 | €24,862 | €15,629 | €5,350 | ▼ 65.8% |
| Trade receivables40 | - | - | - | €14,399 | €19,362 | €2,890 | €463 | ▼ 84.0% |
| Other amounts receivable41 | - | - | - | - | €5,500 | €12,739 | €4,888 | ▼ 61.6% |
| Current investments50/53 | €55,530 | €70,200 | €96,161 | - | - | - | - | - |
| Cash at bank and in hand54/58 | €105,800 | €112,160 | €42,502 | €88,579 | €30,203 | €18,163 | €1,783 | ▼ 90.2% |
| Deferred charges and accrued income490/1 | - | - | - | €1,597 | €1,135 | €1,602 | €1,659 | ▲ 3.5% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €196,099 | €225,919 | €163,672 | €106,051 | €57,158 | €35,834 | €8,792 | ▼ 75.5% |
| Equity10/15 | €162,231 | €215,057 | €52,000 | €19,274 | €19,597 | €25,792 | -€19,266 | - |
| Contributions10/11 | €18,600 | - | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €141,860 | €191,860 | €31,860 | - | - | - | - | - |
| Profit (loss) carried forward14 | €1,771 | €4,597 | €1,540 | €674 | €997 | €7,192 | -€37,866 | - |
| Amounts payable17/49 | €33,868 | €10,861 | €111,673 | €86,777 | €37,561 | €10,041 | €28,058 | ▲ 179% |
| Amounts payable within one year42/48 | €33,868 | €10,861 | €111,673 | €86,777 | €37,561 | €10,041 | €28,058 | ▲ 179% |
| Trade debts44 | €7,688 | €7,811 | €2,335 | €5,530 | €1,736 | €5,564 | €1,778 | ▼ 68.0% |
| Suppliers440/4 | - | - | - | €5,530 | €1,736 | €5,564 | €1,778 | ▼ 68.0% |
| Taxes, remuneration and social security45 | - | - | - | €10,184 | €899 | €13 | €276 | ▲ 22× |
| Taxes450/3 | - | - | - | €10,170 | €885 | - | €263 | - |
| Remuneration and social security454/9 | - | - | - | €14 | €14 | €13 | €13 | = |
| Other amounts payable47/48 | - | - | - | €71,062 | €34,926 | €4,465 | €26,004 | ▲ 482% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €65,896 | €52,827 | €56,942 | €56,135 | €33,323 | €6,195 | -€45,058 | - |
| + Depreciation and write-downs630 | €7,024 | €6,169 | €482 | €80 | €519 | €519 | €439 | ▼ 15.3% |
| Operating cash flow (approximation) | €72,920 | €58,996 | €57,424 | €56,214 | €33,842 | €6,714 | -€44,619 | - |
| Investment in fixed assets (approximation) | - | €0 | - | - | €0 | €0 | - | - |
| Change in cash | - | €6,360 | -€69,657 | €46,077 | -€58,376 | -€12,040 | -€16,380 | ▼ 36.0% |
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, 6,907 companies had the same profile as PBSIM Engineering has now. Two years later, 85.4% were still going and 5.8% had gone bankrupt.
- Micro
- 10 to 20 years old
- negative equity
- a loss of 10% of the balance sheet or more
85.4%
was still going
8.1%
stopped otherwise
5.8%
went bankrupt
Another 0.6% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of PBSIM Engineering itself is lower: 0.3% within 12 months. It rests on far more data about PBSIM Engineering than the profile alone.
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 6,907 companies, not a prediction for PBSIM Engineering. 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 (9)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 08-12-2025 | 2025-00578010 | |
| 30-06-2024 | micro format | 10-12-2024 | 2024-00614836 | |
| 30-06-2023 | micro format | 14-12-2023 | 2023-00530087 | |
| 30-06-2022 | micro format | 16-12-2022 | 2022-20541379 | |
| 30-06-2021 | micro format | 03-12-2021 | 2021-79500101 | |
| 30-06-2020 | micro format | 07-12-2020 | 2020-74900473 | |
| 30-06-2019 | micro format | 10-12-2019 | 2019-75800454 | |
| 30-06-2018 | micro format | 10-12-2018 | 2018-74200550 | |
| 30-06-2017 | micro format | 11-12-2017 | 2017-71600250 |