PEGASE IMMO CONSTRUCT
ActiveSummary
PEGASE IMMO CONSTRUCT has been active since 2017 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€11,603) and a net result of €3,906. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 5% of 34,678 sector peers (NACE 43, financial year 2025). The computed 12-month bankruptcy probability is 1.2% (low).
Overview
- Equity
- -€11,603
- Profit
- €3,906
- ELIAS Thomas Yannick PascalDirector
- VANDORMAEL OlivierDirector
Why 56raises riskCapped at 59: negative equityNegative equity -€11,6031 change of registered office in 24 monthslowers riskSize: turnover €49,680, total assets €9,708Liquidity: current ratio 0.46, cash €5,917Show the evidence
Checked score
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 43, micro): better than 3% on solvency, 43% on liquidity, 92% on profitability and 77% on growth.
The bankruptcy probability was computed on 23-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 7 accounts on average 29 days after the deadline; the sector median (NACE 43) for financial year 2024 is 1 day before the deadline, and 43% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Back to profitnet €3,906
- Resignation: ELIAS Eric (director)Appointment: VANDORMAEL Olivier (director) ·…
Financials · financial year 2025, micro format
2025 annual accounts filed late (16 days) Filed on 16 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00403729.
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result returns to profit in 2025: €3,977 after a loss of €5,910 in 2024, the highest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 43, Specialised construction activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Peer companies
Historical observationOf the 2,180 companies that looked in July 2024 the way this one looks now, 4.8% went bankrupt within 24 months and 88.7% are still going.
- Micro
- 5 to 10 years old
- negative equity
- a profit of 5% of the balance sheet or more
A further 0.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.2% 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 497,474 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% | 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 2,180 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.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | €81,740 | €130,603 | - | €36,123 | €49,680 | ▲ 37.5% |
| Non-recurring operating income76A | - | - | - | €3,271 | - | - | - | €826 | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €77,439 | €130,589 | - | €41,082 | €44,055 | ▲ 7.2% |
| Remuneration, social security and pensions62 | - | - | - | €167 | - | €347 | €20 | €634 | ▲ 3,108% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €513 | €2,738 | €1,674 | €474 | €494 | €727 | €614 | - | - |
| Other operating charges640/8 | - | - | - | €324 | €279 | €490 | €317 | €287 | ▼ 9.6% |
| Non-recurring operating charges66A | - | - | - | €2,679 | - | - | - | €1,553 | - |
| Gross operating margin9900 | €812 | €10,355 | -€17,939 | €7,572 | €14 | -€4,123 | -€4,959 | €6,451 | - |
| Operating profit (loss)9901 | -€503 | €474 | -€25,500 | €3,927 | -€759 | -€5,687 | -€5,910 | €3,977 | - |
| Financial income75/76B | - | - | - | €36 | €0 | €5 | €89 | €19 | ▼ 78.8% |
| Recurring financial income75 | - | - | €166 | €36 | €0 | €5 | €89 | €19 | ▼ 78.8% |
| Financial charges65/66B | - | - | - | €341 | €317 | €90 | €95 | €90 | ▼ 5.6% |
| Recurring financial charges65 | €124 | €3 | €87 | €341 | €317 | €90 | €95 | €90 | ▼ 5.6% |
| Profit (loss) for the period before taxes9903 | -€18 | €471 | -€25,421 | €3,622 | -€1,075 | -€5,771 | -€5,917 | €3,906 | - |
| Profit (loss) for the period9904 | -€18 | €471 | -€25,421 | €3,622 | -€1,075 | -€5,771 | -€5,917 | €3,906 | - |
| Profit (loss) for the period to be appropriated9905 | -€18 | €471 | -€25,421 | €3,622 | -€1,075 | -€5,771 | -€5,917 | €3,906 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €35,457 | €45,647 | €45,707 | €34,956 | €36,124 | €43,179 | €8,497 | €9,708 | ▲ 14.3% |
| Formation expenses20 | €558 | €413 | €269 | €124 | - | - | - | - | - |
| Fixed assets21/28 | €2,223 | €11,019 | €3,848 | €591 | €1,807 | €2,567 | €1,953 | - | - |
| Tangible fixed assets22/27 | €2,223 | €11,019 | €3,848 | €591 | €1,807 | €2,567 | €1,953 | - | - |
| Plant, machinery and equipment23 | - | - | - | €591 | €283 | €1,360 | €1,062 | - | - |
| Furniture and vehicles24 | - | - | - | - | €1,524 | €1,207 | €890 | - | - |
| Current assets29/58 | €32,676 | €34,215 | €41,591 | €34,241 | €34,317 | €40,612 | €6,544 | €9,708 | ▲ 48.3% |
| Stocks and contracts in progress3 | €17,150 | €17,150 | €17,150 | €17,150 | €17,150 | €17,150 | - | - | - |
| Stocks30/36 | - | - | - | €17,150 | €17,150 | €17,150 | - | - | - |
| Amounts receivable within one year40/41 | €3,292 | €7,751 | €10,786 | €10,022 | €10,647 | €8,070 | €2,740 | €3,640 | ▲ 32.8% |
| Trade receivables40 | - | - | - | €6,593 | €2,389 | €1,603 | €427 | €367 | ▼ 14.0% |
| Other amounts receivable41 | - | - | - | €3,430 | €8,258 | €6,467 | €2,313 | €3,272 | ▲ 41.5% |
| Cash at bank and in hand54/58 | €12,234 | €7,994 | €12,736 | €5,238 | €4,207 | €13,623 | €2,752 | €5,917 | ▲ 115% |
| Deferred charges and accrued income490/1 | - | - | - | €1,830 | €2,313 | €1,770 | €1,051 | €152 | ▼ 85.5% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €35,457 | €45,647 | €45,707 | €34,956 | €36,124 | €43,179 | €8,497 | €9,708 | ▲ 14.3% |
| Equity10/15 | €6,182 | €6,653 | -€18,768 | -€15,146 | -€16,221 | -€9,592 | -€15,509 | -€11,603 | ▲ 25.2% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | €18,600 | €18,600 | €18,600 | = |
| Capital10 | - | - | - | €6,200 | €6,200 | - | - | - | - |
| Issued capital100 | - | - | - | €18,600 | €18,600 | - | - | - | - |
| Uncalled capital101 | - | - | - | €12,400 | €12,400 | - | - | - | - |
| Reserves13 | - | €50 | €50 | €50 | €50 | €50 | €50 | €50 | = |
| Non-distributable reserves130/1 | - | - | - | €50 | €50 | €50 | €50 | €50 | = |
| Legal reserve130 | - | - | - | €50 | €50 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | - | - | €50 | €50 | €50 | = |
| Profit (loss) carried forward14 | -€18 | €403 | -€25,018 | -€21,396 | -€22,471 | -€28,242 | -€34,159 | -€30,253 | ▲ 11.4% |
| Amounts payable17/49 | €29,276 | €38,995 | €64,475 | €50,102 | €52,345 | €52,772 | €24,006 | €21,311 | ▼ 11.2% |
| Amounts payable within one year42/48 | €29,276 | €38,995 | €64,475 | €49,991 | €52,345 | €52,772 | €24,006 | €21,311 | ▼ 11.2% |
| Trade debts44 | €7,520 | €2,037 | €7,720 | €3,520 | €5,357 | €7,268 | €3,995 | - | - |
| Suppliers440/4 | - | - | - | €3,520 | €5,357 | €7,268 | €3,995 | - | - |
| Other amounts payable47/48 | - | - | - | €46,471 | €46,988 | €45,503 | €20,010 | €21,311 | ▲ 6.5% |
| Accrued charges and deferred income492/3 | - | - | - | €111 | - | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€18 | €471 | -€25,421 | €3,622 | -€1,075 | -€5,771 | -€5,917 | €3,906 | - |
| + Depreciation and write-downs630 | €513 | €2,738 | €1,674 | €474 | €494 | €727 | €614 | - | - |
| Operating cash flow (approximation) | €495 | €3,209 | -€23,747 | €4,096 | -€582 | -€5,045 | -€5,302 | €3,906 | - |
| Investment in fixed assets (approximation) | - | -€11,534 | €5,498 | €2,783 | -€1,709 | -€1,487 | €0 | - | - |
| Change in cash | - | -€4,241 | €4,743 | -€7,498 | -€1,031 | €9,416 | -€10,870 | €3,164 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (8)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 16-08-2026 | 2026-00403729 |
| 31-12-2024 | micro format | 26-07-2025 | 2025-00316771 |
| 31-12-2023 | micro format | 21-08-2024 | 2024-00360098 |
| 31-12-2022 | micro format | 19-08-2023 | 2023-00352369 |
| 31-12-2021 | micro format | 30-08-2022 | 2022-20387491 |
| 31-12-2020 | micro format | 01-09-2021 | 2021-66100372 |
| 31-12-2019 | micro format | 30-10-2020 | 2020-66700421 |
| 31-12-2018 | micro format | 31-12-2019 | 2019-78100113 |
Similar companies · same sector and region
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Not every act has been read: a resignation may still be missing
Mandate history
- Board
| Name | Functions and periods |
|---|---|
| ELIAS Thomas Yannick Pascal |
|
| VANDORMAEL Olivier |
|
| ELIAS Eric |
|
Owners and capital
Owners
No owners or capital events in the accounts and acts we read.
Group and network
Connections & network
2 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
16-09
Gazette deed
Resignation: ELIAS Eric (director)Appointment: VANDORMAEL Olivier (director) · Director discharge · Registered-office move9 facts ▸
- General meeting, 15-07-2025
- Director resignation, ELIAS Eric (director)
- Director discharge, ELIAS Eric (director)
- Director appointment, VANDORMAEL Olivier (director)
- Registered-office move, 116 Avenue Jospeh Lemaire à 4300 WAREMME
- Board composition, ELIAS Eric (director)
- Board composition, ELIAS Thomas (director)
- Board composition, VANDORMAEL Olivier (director)
- Power of attorney, PEGASE IMMO CONSTRUCT
08-04
Gazette deed
Appointments: Eric ELIAS (director) and ELIAS Thomas Yannick Pascal (sole director)Amendment of the articles · Capital conversion · Capital7 facts ▸
- General meeting, 20-03-2024
- Amendment of the articles (2 times)
- Capital conversion, “fonds disponibles pour distribution” (deed in French)
- Capital
- Director appointment, Eric ELIAS (director)
- Director appointment, ELIAS Thomas Yannick Pascal (sole director)
- Registered office clause, “4400 Flémalle,rue Lonstriche 1” (deed in French)
About the unread acts
Of the 3 Belgian Official Gazette deeds we know for this company, 2 have been read. The other one has not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 24 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice, with enterprise number 0675.727.239
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
2 parcels
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 62036A0588/00L000 | Wallonia | 1,965 m² | 1 · 92 m² | - |
| 64074A0425/00B011 | Wallonia | 651 m² | 1 · 97 m² | 7.7 m · 2 |
How the parcels are linked
Articles of association
What the company does
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- PEGASE IMMO CONSTRUCT
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Région wallonne, peut établir,par simple décision de l’organe d’administration,des sièges administratifs,agences,ateliers,dépôts et…” (deed in French)
Who represents it, and how
- Board ruleHow the board is made up, meets and takes decisions.
- “Nommés avec ou sans limitation de durée, organe d'administration” (deed in French)
Capital, shares and profit
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- “Frais de procédure et d'expertise pour moitié à charge du cédant et pour moitié à charge du ou des acquéreurs, proportionnellement au nombre…” (deed in French)
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Formes prévues pour modifications aux statuts, assemblée générale” (deed in French)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Dissolution pour quelque cause et à quelque moment, peut désigner un ou plusieurs liquidateurs et déterminer pouvoirs et émoluments” (deed in French)