PEKO INSTALLATIONS
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 09-04-2026 PDF all 13 filings
Turnover
≈ €270,000
Estimated: probably between €200,000 and €400,000
Total assets
€187,313▲ 20.3%
2024 · €155,701
Net result
€39,208▲ 118%
2024 · €17,946
Working capital
€123,533▲ 20.3%
2024 · €102,667
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€55,044
▲ 112%
2025
20182025
Net result
€39,208
▲ 118%
2025
highest quarter of the sector
20182025
Equity
€144,831
▲ 18.0%
2025
highest quarter of the sector
20182025
Total assets
€187,313
▲ 20.3%
2025
middle half of the sector
20182025
Debt
€42,482
▲ 28.8%
2025
20182025
Working capital
€123,533
▲ 20.3%
2025
highest quarter of the sector
20182025
Solvency
77.3%
▼ 1.5pp
2025
highest quarter of the sector
20182025
Current ratio
3.91
▼ 1.26
2025
highest quarter of the sector
20182025
Return on assets (ROA)
20.9%
▲ 9.4pp
2025
highest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€701-€24,664€18,493▼ 25.0%€25,465▲ 37.7%€26,383▲ 3.6%€33,225▲ 25.9%€26,008▼ 21.7%€55,044▲ 112%
Net result-€2,001-€17,103€13,375within the sector's middle half▼ 21.8%€17,470within the sector's middle half▲ 30.6%€18,062within the sector's middle half▲ 3.4%€23,126within the sector's middle half▲ 28.0%€17,946within the sector's middle half▼ 22.4%€39,208above the sector's middle half▲ 118%
Equity€24,439-€38,377▲ 57.0%€50,152within the sector's middle half▲ 30.7%€67,622within the sector's middle half▲ 34.8%€85,684within the sector's middle half▲ 26.7%€104,780within the sector's middle half▲ 22.3%€122,727within the sector's middle half▲ 17.1%€144,831above the sector's middle half▲ 18.0%
Total assets€70,330-€102,418▲ 45.6%€79,051within the sector's middle half▼ 22.8%€137,036within the sector's middle half▲ 73.4%€148,615within the sector's middle half▲ 8.4%€147,770within the sector's middle half▼ 0.6%€155,701within the sector's middle half▲ 5.4%€187,313within the sector's middle half▲ 20.3%
Debt€45,890-€64,041▲ 39.6%€28,899▼ 54.9%€69,414▲ 140%€62,931▼ 9.3%€42,990▼ 31.7%€32,974▼ 23.3%€42,482▲ 28.8%
Working capital€9,492-€28,377▲ 199%€41,454within the sector's middle half▲ 46.1%€43,888within the sector's middle half▲ 5.9%€69,877within the sector's middle half▲ 59.2%€84,955within the sector's middle half▲ 21.6%€102,667above the sector's middle half▲ 20.8%€123,533above the sector's middle half▲ 20.3%
Solvency34.7%-37.5%▲ 2.7pp63.4%within the sector's middle half▲ 26.0pp49.3%within the sector's middle half▼ 14.1pp57.7%within the sector's middle half▲ 8.3pp70.9%above the sector's middle half▲ 13.3pp78.8%above the sector's middle half▲ 7.9pp77.3%above the sector's middle half▼ 1.5pp
Current ratio1.32-1.54▲ 0.212.78within the sector's middle half▲ 1.242.39within the sector's middle half▼ 0.393.01within the sector's middle half▲ 0.624.44above the sector's middle half▲ 1.435.17above the sector's middle half▲ 0.733.91above the sector's middle half▼ 1.26
Return on assets (ROA)-2.8%-16.7%▲ 19.5pp16.9%above the sector's middle half▲ 0.2pp12.7%within the sector's middle half▼ 4.2pp12.2%within the sector's middle half▼ 0.6pp15.6%within the sector's middle half▲ 3.5pp11.5%within the sector's middle half▼ 4.1pp20.9%above the sector's middle half▲ 9.4pp
above
within
below
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). 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 112% higher than in 2024 and the highest since 2021. It is a recovery after the fall in 2024.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €187,313
Fixed assets
€21,298 ▼ 25.0%
Current assets
€166,015 ▲ 30.4%
Equity and liabilities €187,313
Equity
€144,831 ▲ 18.0%
Debt
€42,482 ▲ 28.8%
Debt's share of the balance-sheet total rises from 21.2% to 22.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€68,161▲
2024 · €38,473
Cash flow
€52,325▲
2024 · €30,411
Debt to equity
0.29▲
2024 · 0.27
ROE
27.1%▲
2024 · 14.6%
Interest coverage
over 100
2024 · over 100
Debt ≤ 1 year
€42,482▲
2024 · €24,618
Debt > 1 year
€0▼
2024 · €8,356
Income taxes
€15,548▲
2024 · €7,738
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €55,707 | - | €6,541 | €1,752 | €6,000 |
| Financial fixed assets | - | - | €1,000 | €1,020 | €1,020 |
| Depreciation and write-downs of the year | €8,722 | €17,643 | €11,830 | €12,465 | €13,117 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €304 | €0 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10,746 | €11,488 | €7,362 | €8,722 | €17,643 | €11,830 | €12,465 | €13,117 | ▲ 5.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | -€822 | €0 | - | - |
| Other operating charges640/8 | - | - | - | €1,675 | €1,276 | €1,685 | €833 | €854 | ▲ 2.5% |
| Non-recurring operating charges66A | - | - | - | €0 | - | - | - | - | - |
| Gross operating margin9900 | €11,838 | €39,332 | €27,811 | €35,861 | €45,302 | €45,917 | €39,305 | €69,015 | ▲ 75.6% |
| Operating profit (loss)9901 | -€701 | €24,664 | €18,493 | €25,465 | €26,383 | €33,225 | €26,008 | €55,044 | ▲ 112% |
| Financial income75/76B | - | - | - | €289 | €198 | €106 | €49 | €101 | ▲ 106% |
| Recurring financial income75 | €1 | €10 | €87 | €289 | €198 | €106 | €49 | €101 | ▲ 106% |
| Financial charges65/66B | - | - | - | €454 | €675 | €542 | €372 | €390 | ▲ 4.7% |
| Recurring financial charges65 | €1,190 | €1,241 | €421 | €454 | €675 | €542 | €372 | €390 | ▲ 4.7% |
| Profit (loss) for the period before taxes9903 | -€1,890 | €23,433 | €18,159 | €25,300 | €25,906 | €32,789 | €25,685 | €54,755 | ▲ 113% |
| Income taxes67/77 | €111 | €6,330 | €4,784 | €7,830 | €7,844 | €9,664 | €7,738 | €15,548 | ▲ 101% |
| Profit (loss) for the period9904 | -€2,001 | €17,103 | €13,375 | €17,470 | €18,062 | €23,126 | €17,946 | €39,208 | ▲ 118% |
| Profit (loss) for the period to be appropriated9905 | -€2,001 | €17,103 | €13,375 | €17,470 | €18,062 | €23,126 | €17,946 | €39,208 | ▲ 118% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €70,330 | €102,418 | €79,051 | €137,036 | €148,615 | €147,770 | €155,701 | €187,313 | ▲ 20.3% |
| Fixed assets21/28 | €31,398 | €21,051 | €14,266 | €61,555 | €43,912 | €38,109 | €28,416 | €21,298 | ▼ 25.0% |
| Tangible fixed assets22/27 | €31,398 | €21,051 | €14,266 | €61,555 | €43,912 | €37,109 | €26,396 | €19,278 | ▼ 27.0% |
| Plant, machinery and equipment23 | - | - | - | €2,429 | €1,514 | €0 | - | - | - |
| Furniture and vehicles24 | - | - | - | €59,126 | €42,398 | €37,109 | €26,396 | €19,278 | ▼ 27.0% |
| Financial fixed assets28 | - | - | - | - | - | €1,000 | €2,020 | €2,020 | = |
| Current assets29/58 | €38,932 | €81,367 | €64,784 | €75,481 | €104,703 | €109,661 | €127,285 | €166,015 | ▲ 30.4% |
| Stocks and contracts in progress3 | €9,500 | €17,688 | €10,336 | €15,938 | €23,300 | €0 | - | - | - |
| Stocks30/36 | - | - | - | €15,938 | €23,300 | €0 | - | - | - |
| Amounts receivable within one year40/41 | €20,662 | €41,246 | €8,696 | €7,751 | €26,348 | €96,190 | €60,000 | €126,732 | ▲ 111% |
| Trade receivables40 | - | - | - | €3,655 | €26,275 | €36,132 | €0 | €66,732 | - |
| Other amounts receivable41 | - | - | - | €4,096 | €73 | €60,058 | €60,000 | €60,000 | = |
| Cash at bank and in hand54/58 | €7,999 | €20,083 | €42,899 | €51,792 | €53,016 | €12,315 | €67,278 | €37,900 | ▼ 43.7% |
| Deferred charges and accrued income490/1 | - | - | - | €0 | €2,039 | €1,156 | €7 | €1,383 | ▲ 196× |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €70,330 | €102,418 | €79,051 | €137,036 | €148,615 | €147,770 | €155,701 | €187,313 | ▲ 20.3% |
| Equity10/15 | €24,439 | €38,377 | €50,152 | €67,622 | €85,684 | €104,780 | €122,727 | €144,831 | ▲ 18.0% |
| Contributions10/11 | €6,200 | €6,200 | - | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €18,239 | €32,177 | €43,952 | €61,422 | €79,484 | €98,580 | €116,527 | €138,631 | ▲ 19.0% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €0 | - | - | - |
| Distributable reserves133 | - | - | - | €59,562 | €77,624 | €98,580 | €116,527 | €138,631 | ▲ 19.0% |
| Profit (loss) carried forward14 | - | - | - | €0 | - | €0 | €0 | €0 | - |
| Amounts payable17/49 | €45,890 | €64,041 | €28,899 | €69,414 | €62,931 | €42,990 | €32,974 | €42,482 | ▲ 28.8% |
| Amounts payable after more than one year17 | €16,450 | €11,052 | €5,569 | €37,821 | €28,105 | €18,284 | €8,356 | €0 | ▼ 100% |
| Financial debts170/4 | - | - | - | €37,821 | €28,105 | €18,284 | €8,356 | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €29,440 | €52,989 | €23,330 | €31,593 | €34,826 | €24,706 | €24,618 | €42,482 | ▲ 72.6% |
| Current portion of amounts payable after more than one year42 | - | - | - | €15,180 | €9,716 | €9,822 | €9,928 | €8,356 | ▼ 15.8% |
| Trade debts44 | €3,270 | €25,526 | €8,309 | €11,688 | €18,461 | €1,107 | €604 | €1,457 | ▲ 141% |
| Suppliers440/4 | - | - | - | €11,688 | €18,461 | €1,107 | €604 | €1,457 | ▲ 141% |
| Advances received on contracts in progress46 | - | - | - | - | - | - | €168 | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | - | - | - | €330 | €3,095 | €11,879 | €12,736 | €28,726 | ▲ 126% |
| Taxes450/3 | - | - | - | €330 | €3,095 | €11,879 | €12,736 | €28,726 | ▲ 126% |
| Other amounts payable47/48 | - | - | - | €4,395 | €3,554 | €1,899 | €1,182 | €3,943 | ▲ 234% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€2,001 | €17,103 | €13,375 | €17,470 | €18,062 | €23,126 | €17,946 | €39,208 | ▲ 118% |
| + Depreciation and write-downs630 | €10,746 | €11,488 | €7,362 | €8,722 | €17,643 | €11,830 | €12,465 | €13,117 | ▲ 5.2% |
| Operating cash flow (approximation) | €8,745 | €28,591 | €20,737 | €26,192 | €35,705 | €34,956 | €30,411 | €52,325 | ▲ 72.1% |
| Investment in fixed assets (approximation) | - | -€1,141 | -€578 | -€56,010 | €0 | -€6,027 | -€2,772 | -€6,000 | ▼ 116% |
| Change in cash | - | €12,084 | €22,816 | €8,893 | €1,224 | -€40,700 | €54,962 | -€29,378 | - |
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, 34,693 companies had the same profile as PEKO INSTALLATIONS has now. Two years later, 95.3% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.3%
was still going
3.9%
stopped otherwise
0.7%
went bankrupt
That fits the bankruptcy probability of PEKO INSTALLATIONS itself: 0.1% within 12 months.
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 34,693 companies, not a prediction for PEKO INSTALLATIONS. 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.
Latest 10 of 13 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 09-04-2026 | 2026-00075235 | |
| 31-12-2024 | micro format | 27-03-2025 | 2025-00055494 | |
| 31-12-2023 | micro format | 28-03-2024 | 2024-00051193 | |
| 31-12-2022 | micro format | 29-06-2023 | 2023-00172864 | |
| 31-12-2021 | micro format | 17-06-2022 | 2022-20069622 | |
| 31-12-2020 | micro format | 04-06-2021 | 2021-17000595 | |
| 31-12-2019 | abbreviated format | 23-06-2020 | 2020-19000391 | |
| 31-12-2018 | abbreviated format | 07-06-2019 | 2019-16400513 | |
| 31-12-2017 | micro format | 18-07-2018 | 2018-34300593 | |
| 31-12-2016 | micro format | 28-06-2017 | 2017-24000230 |