PECECE
ActiveSummary
PECECE has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€70,727) and a net result of -€86,350. Equity is shrinking by ~12.7% per year across the filed fiscal years. Its solvency ranks better than 8% of 8737 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability6▲+6
Solvency17▼-10
Growth22=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity ample (current ratio 8.78 against 11.31 in 2024; short-term debt: 7.8% and cash: 12.8% of total assets), but equity is negative.
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Signals
Six 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 · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-8.2%
Return on assets
-10%
Age of the figures
9 mo
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
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€70,727
neutral · A punctual record breaks
This company filed 9 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 20-08-2026, 20 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
20 d late
2024
41 d early
2023
6 d early
2022
35 d early
2021
5 d early
2020
37 d early
2019
9 d early
← 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 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Turnover
€75,448▼ 35.4%
2018 · €116,760
EBIT margin
43.4%▼ 24.2pp
2018 · 67.6%
Net result
-€86,350▲ 63.2%
2024 · -€234,508
Working capital
€524,431▼ 20.4%
2024 · €659,170
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€15,740€71,493▲ 354%€4,135▼ 94.2%-€202,622-€56,242▲ 72.2%
Net result-€16,785▲ 52.8%€38,829-€28,985-€234,508▼ 709%-€86,350▲ 63.2%
EBIT margin
Equity€240,287▼ 6.5%€279,116▲ 16.2%€250,131▼ 10.4%€15,623▼ 93.8%-€70,727
Total assets€1.3m▼ 9.3%€1.3m▼ 1.2%€1.3m▼ 3.1%€946,447▼ 24.6%€859,721▼ 9.2%
Debt€1.1m▼ 9.9%€1.0m▼ 5.0%€1.0m▼ 1.1%€930,824▼ 7.4%€930,448=
Working capital-€124,138▼ 111%€41,875€39,852▼ 4.8%€659,170▲ 1,554%€524,431▼ 20.4%
Why a figure moved sharply
- 2025 Net result +63% on 2024. The accounts now follow the abbreviated schema, last year the full schema.
- 2024 Net result -709%, Equity -94% on 2023. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €56,242 in 2025 against €202,622 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €859,721
Fixed assets
€267,912 ▲ 20.0%
Current assets
€591,810 ▼ 18.2%
Key figures and ratios
EBITDA
-€29,975▲
2024 · -€178,709
Cash flow
-€60,083▲
2024 · -€210,595
Solvency
-8.2%▼
2024 · 1.7%
Current ratio
8.78▼
2024 · 11.31
Debt to equity
-13.16▼
2024 · 59.58
ROA
-10.0%▲
2024 · -24.8%
Interest coverage
-0.79▲
2024 · -4.71
Debt ≤ 1 year
€67,379▲
2024 · €63,964
Debt > 1 year
€838,644▼
2024 · €866,860
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 598 companies that looked in July 2024 the way this one looks now, 8.5% went bankrupt within 24 months and 83% are still going.
- Small
- 10 to 20 years old
- negative equity
- a loss of 10% of the balance sheet or more
8.5%
went bankrupt
5.9%
stopped otherwise
83%
still going
A further 2.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.4% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
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 598 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 | €25,824 | €24,269 | €24,269 | €23,913 | €26,267 | ▲ 9.8% |
| Other operating charges640/8 | €2,015 | €2,026 | €2,253 | €3,252 | €8,670 | ▲ 167% |
| Non-recurring operating charges66A | - | - | - | €152,050 | - | - |
| Gross operating margin9900 | €43,579 | €97,788 | €30,657 | -€23,407 | -€21,306 | ▲ 9.0% |
| Operating profit (loss)9901 | €15,740 | €71,493 | €4,135 | -€202,622 | -€56,242 | ▲ 72.2% |
| Financial income75/76B | €4,094 | €4,196 | €4,072 | €6,090 | €8,029 | ▲ 31.8% |
| Recurring financial income75 | €4,094 | €4,196 | €4,072 | €6,090 | €8,029 | ▲ 31.8% |
| Financial charges65/66B | €36,618 | €36,860 | €37,192 | €37,976 | €38,137 | ▲ 0.4% |
| Recurring financial charges65 | €36,618 | €36,860 | €37,192 | €37,976 | €38,137 | ▲ 0.4% |
| Profit (loss) for the period before taxes9903 | -€16,785 | €38,829 | -€28,985 | -€234,508 | -€86,350 | ▲ 63.2% |
| Profit (loss) for the period9904 | -€16,785 | €38,829 | -€28,985 | -€234,508 | -€86,350 | ▲ 63.2% |
| Profit (loss) for the period to be appropriated9905 | -€16,785 | €38,829 | -€28,985 | -€234,508 | -€86,350 | ▲ 63.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.3m | €1.3m | €1.3m | €946,447 | €859,721 | ▼ 9.2% |
| Fixed assets21/28 | €1.3m | €1.1m | €1.1m | €223,313 | €267,912 | ▲ 20.0% |
| Tangible fixed assets22/27 | €284,952 | €260,683 | €236,414 | €223,313 | €267,912 | ▲ 20.0% |
| Land and buildings22 | €284,952 | €260,683 | €236,414 | €223,313 | €267,912 | ▲ 20.0% |
| Financial fixed assets28 | €1.0m | €850,000 | €850,000 | - | - | - |
| Current assets29/58 | €7,828 | €184,835 | €168,761 | €723,134 | €591,810 | ▼ 18.2% |
| Amounts receivable after more than one year29 | - | €172,033 | €166,105 | €452,195 | €410,179 | ▼ 9.3% |
| Other amounts receivable291 | - | €172,033 | €166,105 | €452,195 | €410,179 | ▼ 9.3% |
| Amounts receivable within one year40/41 | €4,673 | €10,650 | €320 | €62,500 | €62,500 | = |
| Trade receivables40 | €4,673 | €10,650 | - | - | - | - |
| Other amounts receivable41 | - | - | €320 | €62,500 | €62,500 | = |
| Cash at bank and in hand54/58 | €2,033 | €888 | €751 | €208,439 | €109,848 | ▼ 47.3% |
| Deferred charges and accrued income490/1 | €1,122 | €1,264 | €1,585 | - | €9,282 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.3m | €1.3m | €1.3m | €946,447 | €859,721 | ▼ 9.2% |
| Equity10/15 | €240,287 | €279,116 | €250,131 | €15,623 | -€70,727 | ▼ 553% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €219,827 | €258,656 | €229,671 | -€4,837 | -€91,187 | ▼ 1,785% |
| Amounts payable17/49 | €1.1m | €1.0m | €1.0m | €930,824 | €930,448 | = |
| Amounts payable after more than one year17 | €938,365 | €873,443 | €876,135 | €866,860 | €838,644 | ▼ 3.3% |
| Financial debts170/4 | €938,365 | €873,443 | €876,135 | €866,860 | €838,644 | ▼ 3.3% |
| Amounts payable within one year42/48 | €131,966 | €142,960 | €128,909 | €63,964 | €67,379 | ▲ 5.3% |
| Current portion of amounts payable after more than one year42 | €121,873 | €127,400 | €117,412 | €38,542 | €38,896 | ▲ 0.9% |
| Trade debts44 | - | €106 | €2,134 | €152 | - | - |
| Suppliers440/4 | - | €106 | €2,134 | €152 | - | - |
| Taxes, remuneration and social security45 | €4,555 | €3,144 | - | €313 | €3,525 | ▲ 1,027% |
| Taxes450/3 | €4,555 | €3,144 | - | €313 | €3,525 | ▲ 1,027% |
| Other amounts payable47/48 | €5,538 | €12,311 | €9,364 | €24,958 | €24,958 | = |
| Accrued charges and deferred income492/3 | - | - | - | - | €24,426 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€16,785 | €38,829 | -€28,985 | -€234,508 | -€86,350 | ▲ 63.2% |
| + Depreciation and write-downs630 | €25,824 | €24,269 | €24,269 | €23,913 | €26,267 | ▲ 9.8% |
| Operating cash flow (approximation) | €9,039 | €63,098 | -€4,716 | -€210,595 | -€60,083 | ▲ 71.5% |
| Investment in fixed assets (approximation) | - | €167,837 | €0 | €839,188 | -€70,866 | ▼ 108% |
| Change in cash | - | -€1,146 | -€136 | €207,688 | -€98,591 | ▼ 147% |
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
20-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 20 days late
2025
20-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Weakest financial yearnet -€234,508
Net result drops to -€234,508, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity times 9current ratio 11.31
Current ratio from 1.31 to 11.31; short-term debt falls from €128,909 to €63,964.
25-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
26-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Back to profitnet €38,829
Net result €38,829 after 2 loss-making years.
31-12
Financial
Liquidity times 22current ratio 1.29
Current ratio from 0.06 to 1.29.
26-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
24-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
22-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
21-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
23-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
24-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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
7 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, Sint-Joost-ten-Node · 1 establishment unit since 2009
Ground area
1,055 m²
Building footprint
411 m²
Volume, LiDAR
4,136 m³
2 parcels, Brussels, Wallonia · tallest building 15.7 m, ±4 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
Philippe Cuvelier Consulting
since 20092.176.610.516
2 parcels
Wallonia
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62100D0742/00L000 | Wallonia | 797 m² | 1 · 224 m² | 10.3 m · 3 fl. |
| 21014A0506/00P016 | Brussels | 258 m² | 1 · 187 m² | 15.7 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
1 owner · 1 holdingChain of control
- SARL PPMTLU
- PECECE
Highest known parent: SARL PPMT (Luxembourg). The sources do not say who stands above it.
Owners 1
- SARL PPMTLUparentSourceown accounts 2025100%
Holdings 1
-
50%
According to the 2025 annual accounts of PECECE and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 82,642 companies in sector 70200 we hold annual accounts for 52,590. 27,914 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
Founded25-02-2009
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0810046901
Also
9925:BE0810046901
Registered
27-10-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.