Financials
- Fiscal year
- 2024
- Total assets
- €195.6m
- Loss
- -€1.4m
- Solvency
- 60.3%
Total assets▼ 4.8%
Net result
20182024
PEMAGA
ActiveSummary
PEMAGA has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €117.9m and a net result of -€1.4m. Equity remains stable across the filed fiscal years (±1.7% per year). The computed 12-month bankruptcy probability is 1.1% (low).
Overview
Activity
Activity not known
Size
€195.6mtotal assets 2024
- Equity
- €117.9m
- Loss
- -€1.4m
Structure
- Holdings
- 4
Accounts 64 d overdue0 of 5 deeds read
Why 64- Figures for FY 2024 (filed 09-10-2025)- 1 financial year not filed after the legal deadline; latest accounts 68 days late; 2 of the last 3 late- No establishment unit in the KBO+ Size: total assets €195.6mShow the evidence
Checked score
Score 2024
64
/ 100
Healthy
Probability in this band: 0.55% to 1.5%
Better than 28% of its sector peers (no NACE code, large)
Performance against the sector, not lower risk
Financial strength · tick = 2023
Average
Solvency
85-15
equity 60.3% of total assets
Liquidity
52=
short-term debt 39.7% · cash 16.3%
Profitability
18-7
return on assets -0.7%
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
11-2024: 0.4%
12-2024: 0.4%● 0.0% vs 11-2024
01-2025: 0.4%▼ -0.7% vs 12-2024
02-2025: 0.4%● 0.0% vs 01-2025
03-2025: 0.4%▼ -0.5% vs 02-2025
04-2025: 0.4%▼ -15.6% vs 03-2025
05-2025: 0.4%▼ -1.7% vs 04-2025
06-2025: 0.4%▲ +10.7% vs 05-2025
07-2025: 0.4%▼ -1.5% vs 06-2025
08-2025: 0.6%▲ +47.2% vs 07-2025
09-2025: 0.7%▲ +22.8% vs 08-2025
10-2025: 1.3%▲ +81.0% vs 09-2025highest value
11-2025: 0.3%▼ -72.7% vs 10-2025
12-2025: 0.3%▼ -0.9% vs 11-2025
01-2026: 0.3%▼ -0.6% vs 12-2025
02-2026: 0.3%▲ +0.6% vs 01-2026
03-2026: 0.4%▲ +7.3% vs 02-2026
04-2026: 0.3%▼ -6.8% vs 03-2026
05-2026: 0.3%▼ -3.8% vs 04-2026lowest value
06-2026: 0.4%▲ +6.7% vs 05-2026
07-2026: 0.4%▲ +9.1% vs 06-2026
08-2026: 0.6%▲ +53.9% vs 07-2026
09-2026: 0.7%▲ +16.9% vs 08-2026
10-2026: 1.1%▲ +66.3% vs 09-2026
- Size: total assets €195.6m lowers the probability for this profile
- Figures for FY 2024 (filed 09-10-2025) raises the probability
- 1 financial year not filed after the legal deadline; latest accounts 68 days late; 2 of the last 3 late raises the probability
- No establishment unit in the KBO raises the probability
Credit up to €7,500,000 at 30 days acceptable
Liquidity short (current ratio 0.58 against 1.04 in 2023; short-term debt: 39.7% and cash: 16.3% of total assets), and 39.7% of the assets are financed with debt.
How it is calculated
The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.
| 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% |
Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (no NACE code, large). Better than this share of them on solvency 27%, liquidity 76%, profitability 8%, growth against the median 3%. That is performance, not lower risk; the band itself always comes from the probability.
Bankruptcy probability: model pd-v3.202610021621, computed on 03-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.
Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 07-10-2025, 68 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 8 filingsDeviation from the deadline
2025
not confirmed
2024
68 d late
2023
89 d late
2022
28 d late
2021
60 d late
2020
31 d late
2019
103 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 6 accounts on average 63 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
- Annual accounts filedfiscal year 2024 · full…
- Weakest financial yearnet -€1.4m
- Annual accounts filedfiscal year 2023 · micro…
Key points
By topic
Network & group
- Subsidiaries
- 3
- Holdings
- 4
4 holdings
Timeline
- Events
- 14
- Since
- 2018
- 07-10-2025Annual accounts filed
- 31-12-2024Weakest financial year
- 28-10-2024Annual accounts filed
Company details
- Legal form
- Public limited company
- Founded
- 02-03-2017
- Year ends
- 31-12
- Peppol
- Not found in the Peppol directory
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