Pelletier Development
ActiveSummary
Pelletier Development has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.84M and a net result of €-11k. Equity is growing by ~21.2% per year across the filed fiscal years. Its solvency ranks better than 49% of 4556 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability37▲+6
Solvency62▼-2
Growth78=
Track record100
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €90k at 30 days acceptable
Liquidity short (current ratio 0.62 against 0.54 in 2024; short-term debt: 45.9% and cash: 0.5% of total assets), and 62.9% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
202122232425
2020 to 2025 · latest year €-11k
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 06-10-2025, 25 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
25 d early
2024
16 d early
2023
34 d early
2022
36 d early
2021
104 d early
2020
25 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close25-09-2026 today31-10-2026 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-11k▲ 91.0%
2024 · €-119k
Working capital
€-861k▲ 16.0%
2024 · €-1.02M
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
Operating result€-41k▲ 75.8%€-4.10M▼ 9,956%€-193k▲ 95.3%€-119k▲ 38.5%€-11k▲ 90.8%
Net result€-409k▼ 146%€2.69M€-192k€-119k▲ 38.1%€-11k▲ 91.0%
Equity€-526k▼ 352%€2.16M€1.97M▼ 8.6%€1.85M▼ 6.0%€1.84M▼ 0.6%
Total assets€5.19M▼ 3.8%€4.50M▼ 13.4%€5.03M▲ 11.9%€4.75M▼ 5.6%€4.98M▲ 4.8%
Debt€5.72M▲ 3.7%€2.34M▼ 59.1%€3.06M▲ 30.9%€2.90M▼ 5.4%€3.13M▲ 8.2%
Working capital€1.97M▼ 10.1%€430k▼ 78.1%€789k▲ 83.3%€-1.02M€-861k▲ 16.0%
Staff (FTE)00
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €11k in 2025 against €119k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.98M
Fixed assets
€3.56M =
Current assets
€1.42M ▲ 19.0%
Equity and liabilities €4.98M
Equity
€1.84M ▼ 0.6%
Debt
€3.13M ▲ 8.2%
Debt's share of the balance-sheet total rises from 61.0% to 62.9%. Equity is lower and debt is higher.
Key figures and ratios
Current ratio
0.62▲
2024 · 0.54
Quick ratio
0.05▼
2024 · 0.06
Debt to equity
1.70▲
2024 · 1.56
ROE
-0.6%▲
2024 · -6.4%
ROA
-0.2%▲
2024 · -2.5%
Debt ≤ 1 year
€2.28M▲
2024 · €2.22M
Debt > 1 year
€837k▲
2024 · €666k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €37k | €0 | - | - | - |
| Other operating charges640/8 | - | €18k | €24k | €41k | €37k | ▼ 9.8% |
| Non-recurring operating charges66A | - | €2.74M | €0 | - | - | - |
| Gross operating margin9900 | €-14k | €-1.34M | €-169k | €-78k | €26k | ▲ 133% |
| Operating profit (loss)9901 | €-41k | €-4.10M | €-193k | €-119k | €-11k | ▲ 90.8% |
| Financial income75/76B | - | €6.89M | €1k | €459 | €882 | ▲ 92.0% |
| Recurring financial income75 | €8k | €6.89M | €1k | €459 | €882 | ▲ 92.0% |
| Financial charges65/66B | - | €103k | €628 | €817 | €644 | ▼ 21.2% |
| Recurring financial charges65 | €377k | €103k | €628 | €817 | €644 | ▼ 21.2% |
| Profit (loss) for the period before taxes9903 | €-409k | €2.69M | €-192k | €-119k | €-11k | ▲ 91.0% |
| Profit (loss) for the period9904 | €-409k | €2.69M | €-192k | €-119k | €-11k | ▲ 91.0% |
| Profit (loss) for the period to be appropriated9905 | €-409k | €2.69M | €-192k | €-119k | €-11k | ▲ 91.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €5.19M | €4.50M | €5.03M | €4.75M | €4.98M | ▲ 4.8% |
| Fixed assets21/28 | €3.20M | €3.56M | €3.56M | €3.56M | €3.56M | = |
| Financial fixed assets28 | €3.20M | €3.56M | €3.56M | €3.56M | €3.56M | = |
| Current assets29/58 | €1.99M | €941k | €1.48M | €1.19M | €1.42M | ▲ 19.0% |
| Amounts receivable after more than one year29 | - | €264k | €0 | - | - | - |
| Other amounts receivable291 | - | €264k | €0 | - | - | - |
| Stocks and contracts in progress3 | €1.31M | €159k | €721k | €1.07M | €1.31M | ▲ 22.7% |
| Stocks30/36 | - | €159k | €721k | €1.07M | €1.31M | ▲ 22.7% |
| Amounts receivable within one year40/41 | €625k | €416k | €720k | €119k | €89k | ▼ 25.4% |
| Trade receivables40 | - | - | - | €6k | €0 | ▼ 100% |
| Other amounts receivable41 | - | €416k | €720k | €113k | €89k | ▼ 21.6% |
| Cash at bank and in hand54/58 | €61k | €102k | €36k | €10k | €25k | ▲ 142% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €5.19M | €4.50M | €5.03M | €4.75M | €4.98M | ▲ 4.8% |
| Equity10/15 | €-526k | €2.16M | €1.97M | €1.85M | €1.84M | ▼ 0.6% |
| Contributions10/11 | - | €50k | €56k | €56k | €56k | = |
| Profit (loss) carried forward14 | €-576k | €2.11M | €1.92M | €1.80M | €1.79M | ▼ 0.6% |
| Amounts payable17/49 | €5.72M | €2.34M | €3.06M | €2.90M | €3.13M | ▲ 8.2% |
| Amounts payable after more than one year17 | €5.68M | €1.82M | €2.36M | €666k | €837k | ▲ 25.6% |
| Financial debts170/4 | - | €1.82M | €2.36M | €666k | €837k | ▲ 25.6% |
| Amounts payable within one year42/48 | €23k | €511k | €688k | €2.22M | €2.28M | ▲ 2.8% |
| Financial debts43 | - | - | - | €1.87M | €1.94M | ▲ 3.7% |
| Credit institutions430/8 | - | - | - | €1.87M | €1.94M | ▲ 3.7% |
| Trade debts44 | €23k | €11k | €188k | €11k | €5k | ▼ 52.3% |
| Suppliers440/4 | - | €11k | €188k | €11k | €5k | ▼ 52.3% |
| Other amounts payable47/48 | - | €500k | €500k | €340k | €340k | = |
| Accrued charges and deferred income492/3 | - | €2k | €6k | €10k | €14k | ▲ 40.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-409k | €2.69M | €-192k | €-119k | €-11k | ▲ 91.0% |
| Operating cash flow (approximation) | €-409k | €2.69M | €-192k | €-119k | €-11k | ▲ 91.0% |
| Investment in fixed assets (approximation) | - | €-355k | €0 | €500 | €0 | ▼ 100% |
| Change in cash | - | €41k | €-65k | €-26k | €15k | ▲ 157% |
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
02-07
State Gazette act
Capital & shares · RestructuringPermanent representative: NOËL Denis Baudouin Marie-Louise Ghislain · Merger · Dissolution13 facts ▸
State Gazette act
Capital & shares · Restructuring
Permanent representative: NOËL Denis Baudouin Marie-Louise Ghislain · Merger · Dissolution13 facts ▸
- General meeting, 11-06-2026
- Merger, absorption, 01-04-2026
- Dissolution, 11-06-2026
- Share cancellation, all, fusion par absorption
- Accounting effect, 01-04-2026
- Real estate, Maison sise rue Heyvaert, 52, Molenbeek, section B 0950W7P0000, 15 ca, RC 196,00 EUR
- Real estate, Garage-atelier sis rue Heyvaert, 40/50, Molenbeek, section B 0950C12P0000, 06 a 45 ca, RC 3.559,00 EUR
- Real estate, Maison sise rue Heyvaert, 52, Anderlecht, section B 0150W26P0000, 90 ca, RC 1.283,00 EUR
- Real estate, Garage-atelier sis rue Heyvaert, 40/50, Anderlecht, section B 0150K32P0000, 41 a 78 ca, RC 16.869,00 EUR
- Power of attorney, Wise Development Compagny
- Permanent representative, NOËL Denis Baudouin Marie-Louise Ghislain
- Power of attorney, BESTGEN Rodolphe
- +1 further facts in this act
13-03
State Gazette act
RestructuringMerger · Accounting effect · Power of attorney5 facts ▸
State Gazette act
Restructuring
Merger · Accounting effect · Power of attorney5 facts ▸
- Merger, 04-03-2026
- Accounting effect, 01-04-2026
- Power of attorney, J.Jordens SRL/Marion de Crombrugghe
- Power of attorney, J.Jordens SRL/Marion de Crombrugghe
- Shareholding, 100%
2025
06-10
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2024
15-10
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2023
27-09
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2022
25-09
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
31-03
Financial
Back to profitnet €2.69M
Net result €2.69M after 2 loss-making years.
31-03
Financial
Equity above €2MEq €2.16M
Equity rises from €-526k to €2.16M.
2021
19-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
31-03
Financial
Weakest financial yearnet €-409k
Net result drops to €-409k, the lowest in the series; recovery starts the following year.
2020
06-10
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
2 of 8 acts read
About the unread acts
Of the 8 Belgian State Gazette acts we know for this company, 2 have been read. The other 6 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
8 acts for this company are in the Belgian State Gazette, of which we have read 2. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Ukkel · 1 establishment unit since 2018
Ground area
1,103 m²
Parcel 21616G0176/00X003, Brussels. Linked by address, not a title deed.
34
companies at this address
See who is registered here
1 establishment unit
PELLETIER DEVELOPMENT
since 20182.282.314.087
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21616G0176/00X003 | Brussels | 1,103 m² | - | - |
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.
Structure & network
Acquisitions and mergers
1 transactionTook over:Pahuma SA
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Of 7,326 companies in sector 68110 we hold annual accounts for 5,385. 2,738 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
Founded13-11-2018
Fiscal year end31-03
Activities, NACEBEL 2025
68110Buying and selling of own real estate
64999Other financial services
71121Engineering and related technical consultancy, excluding land surveyors
Scores and ratios are computed by Checked and are not a credit decision.