Petac
ActiveSummary
The computed 12-month bankruptcy probability of Petac is 1.8% (moderate). The 2025 annual accounts show equity of €354,325 and a net result of €45,833. Equity is growing by ~67.4% per year across the filed fiscal years. Its solvency ranks better than 55% of 7930 sector peers (fiscal year 2025). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability68▼-25
Solvency73▲+7
Growth78=
Track record100
Bankruptcy probability, 12 months
1.8%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €22,000 at 30 days acceptable
Liquidity ample (current ratio 1.93 against 1.69 in 2024; short-term debt: 48.8% and cash: 22.7% of total assets), but 52.1% of the assets are financed with debt.
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Signals
Four 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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
47.9%
Return on assets
6.2%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 15-07-2026, 16 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
16 d early
2024
15 d early
2023
27 d late
2022
26 d early
2021
24 d early
2020
24 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 5 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€354,325▲ 14.9%
2024 · €308,492
Total assets
€739,914▼ 2.9%
2024 · €761,625
Net result
€45,833▼ 68.4%
2024 · €144,953
Working capital
€335,027▲ 17.3%
2024 · €285,724
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€49,462▲ 502%€69,609▲ 40.7%€73,452▲ 5.5%€202,044▲ 175%€84,370▼ 58.2%
Net result€37,910within the sector's middle half▲ 448%€51,139within the sector's middle half▲ 34.9%€47,574within the sector's middle half▼ 7.0%€144,953above the sector's middle half▲ 205%€45,833within the sector's middle half▼ 68.4%
Equity€64,826below the sector's middle half▲ 141%€115,965below the sector's middle half▲ 78.9%€163,540within the sector's middle half▲ 41.0%€308,492within the sector's middle half▲ 88.6%€354,325within the sector's middle half▲ 14.9%
Total assets€393,782below the sector's middle half▲ 102%€479,848within the sector's middle half▲ 21.9%€495,171within the sector's middle half▲ 3.2%€761,625within the sector's middle half▲ 53.8%€739,914within the sector's middle half▼ 2.9%
Debt€328,956▲ 95.5%€363,883▲ 10.6%€331,632▼ 8.9%€453,133▲ 36.6%€385,589▼ 14.9%
Working capital€61,514within the sector's middle half▲ 161%€141,007within the sector's middle half▲ 129%€150,233within the sector's middle half▲ 6.5%€285,724within the sector's middle half▲ 90.2%€335,027within the sector's middle half▲ 17.3%
Solvency16.5%below the sector's middle half▲ 2.7pp24.2%within the sector's middle half▲ 7.7pp33.0%within the sector's middle half▲ 8.9pp40.5%within the sector's middle half▲ 7.5pp47.9%within the sector's middle half▲ 7.4pp
Current ratio1.19within the sector's middle half▲ 0.051.42within the sector's middle half▲ 0.231.48within the sector's middle half▲ 0.051.69within the sector's middle half▲ 0.211.93within the sector's middle half▲ 0.24
Return on assets (ROA)9.6%within the sector's middle half▲ 6.1pp10.7%within the sector's middle half▲ 1.0pp9.6%within the sector's middle half▼ 1.0pp19.0%above the sector's middle half▲ 9.4pp6.2%within the sector's middle half▼ 12.8pp
Staff (FTE)1.6below the sector's middle half▲ 77.8%1.9below the sector's middle half▲ 18.8%2.5within the sector's middle half▲ 31.6%2.9within the sector's middle half▲ 16.0%2.4within the sector's middle half▼ 17.2%
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 58% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €739,914
Fixed assets
€43,507 ▼ 29.2%
Current assets
€696,407 ▼ 0.5%
Equity and liabilities €739,914
Equity
€354,325 ▲ 14.9%
Debt
€385,589 ▼ 14.9%
Debt's share of the balance-sheet total falls from 59.5% to 52.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€101,217▼
2024 · €214,424
Cash flow
€62,681▼
2024 · €157,333
Quick ratio
1.38▲
2024 · 1.13
Debt to equity
1.09▼
2024 · 1.47
ROE
12.9%▼
2024 · 47.0%
Interest coverage
5.03▼
2024 · 21.94
Debt ≤ 1 year
€361,380▼
2024 · €414,440
Debt > 1 year
€24,209▼
2024 · €38,693
Income taxes
€18,973▼
2024 · €51,977
Staff costs
€188,530▼
2024 · €222,177
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,970 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.5%
went bankrupt
3.4%
stopped otherwise
95%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.8% 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 497,662 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% | 1.7% |
| 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 75% 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 26,970 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €93,360 | €127,485 | €185,226 | €222,177 | €188,530 | ▼ 15.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,431 | €932 | €4,653 | €12,380 | €16,848 | ▲ 36.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €4,212 | €0 | €1,122 | - |
| Other operating charges640/8 | €2,105 | €986 | €2,114 | €2,182 | €1,656 | ▼ 24.1% |
| Gross operating margin9900 | €147,358 | €199,012 | €269,657 | €438,783 | €292,525 | ▼ 33.3% |
| Operating profit (loss)9901 | €49,462 | €69,609 | €73,452 | €202,044 | €84,370 | ▼ 58.2% |
| Financial income75/76B | €3,468 | €4,373 | €6,925 | €4,661 | €549 | ▼ 88.2% |
| Recurring financial income75 | €3,468 | €4,373 | €6,925 | €4,661 | €549 | ▼ 88.2% |
| Financial charges65/66B | €956 | €4,144 | €13,803 | €9,775 | €20,113 | ▲ 106% |
| Recurring financial charges65 | €956 | €4,144 | €13,803 | €9,775 | €20,113 | ▲ 106% |
| Profit (loss) for the period before taxes9903 | €51,974 | €69,838 | €66,575 | €196,930 | €64,806 | ▼ 67.1% |
| Income taxes67/77 | €14,064 | €18,699 | €19,000 | €51,977 | €18,973 | ▼ 63.5% |
| Profit (loss) for the period9904 | €37,910 | €51,139 | €47,574 | €144,953 | €45,833 | ▼ 68.4% |
| Profit (loss) for the period to be appropriated9905 | €37,910 | €51,139 | €47,574 | €144,953 | €45,833 | ▼ 68.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €393,782 | €479,848 | €495,171 | €761,625 | €739,914 | ▼ 2.9% |
| Formation expenses20 | €0 | - | - | - | - | - |
| Fixed assets21/28 | €3,312 | €3,822 | €28,911 | €61,461 | €43,507 | ▼ 29.2% |
| Tangible fixed assets22/27 | €933 | €1,444 | €26,532 | €59,083 | €43,507 | ▼ 26.4% |
| Plant, machinery and equipment23 | - | - | €3,746 | €2,845 | €1,944 | ▼ 31.7% |
| Furniture and vehicles24 | €933 | €1,444 | €1,334 | €40,912 | €32,364 | ▼ 20.9% |
| Leasing and similar rights25 | - | - | €21,453 | €15,326 | €9,199 | ▼ 40.0% |
| Financial fixed assets28 | €2,379 | €2,379 | €2,379 | €2,379 | €0 | ▼ 100% |
| Current assets29/58 | €390,470 | €476,026 | €466,261 | €700,164 | €696,407 | ▼ 0.5% |
| Stocks and contracts in progress3 | €141,545 | €91,545 | €226,651 | €230,739 | €199,380 | ▼ 13.6% |
| Stocks30/36 | €141,545 | €91,545 | €226,651 | €230,739 | €199,380 | ▼ 13.6% |
| Amounts receivable within one year40/41 | €176,458 | €330,803 | €187,988 | €324,352 | €323,053 | ▼ 0.4% |
| Trade receivables40 | €175,790 | €325,285 | €156,429 | €323,490 | €286,028 | ▼ 11.6% |
| Other amounts receivable41 | €667 | €5,518 | €31,559 | €862 | €37,025 | ▲ 4,194% |
| Cash at bank and in hand54/58 | €71,944 | €52,846 | €47,430 | €135,124 | €167,927 | ▲ 24.3% |
| Deferred charges and accrued income490/1 | €524 | €831 | €4,192 | €9,948 | €6,047 | ▼ 39.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €393,782 | €479,848 | €495,171 | €761,625 | €739,914 | ▼ 2.9% |
| Equity10/15 | €64,826 | €115,965 | €163,540 | €308,492 | €354,325 | ▲ 14.9% |
| Contributions10/11 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | €44,826 | €95,965 | €143,540 | €288,492 | €334,325 | ▲ 15.9% |
| Distributable reserves133 | €44,826 | €95,965 | €143,540 | €288,492 | €334,325 | ▲ 15.9% |
| Amounts payable17/49 | €328,956 | €363,883 | €331,632 | €453,133 | €385,589 | ▼ 14.9% |
| Amounts payable after more than one year17 | - | - | €15,604 | €38,693 | €24,209 | ▼ 37.4% |
| Financial debts170/4 | - | - | €15,604 | €38,693 | €24,209 | ▼ 37.4% |
| Amounts payable within one year42/48 | €328,956 | €335,018 | €316,028 | €414,440 | €361,380 | ▼ 12.8% |
| Current portion of amounts payable after more than one year42 | - | - | €5,999 | €13,881 | €14,484 | ▲ 4.3% |
| Financial debts43 | €100,000 | €100,000 | €100,000 | €106,767 | €100,000 | ▼ 6.3% |
| Credit institutions430/8 | €100,000 | €100,000 | €100,000 | €106,767 | €100,000 | ▼ 6.3% |
| Trade debts44 | €115,231 | €74,151 | €113,713 | €170,047 | €138,956 | ▼ 18.3% |
| Suppliers440/4 | €115,231 | €74,151 | €113,713 | €170,047 | €138,956 | ▼ 18.3% |
| Advances received on contracts in progress46 | - | - | - | €12,091 | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | €41,692 | €90,457 | €26,315 | €41,654 | €37,940 | ▼ 8.9% |
| Taxes450/3 | €30,888 | €72,111 | €5,851 | €25,218 | €22,109 | ▼ 12.3% |
| Remuneration and social security454/9 | €10,804 | €18,346 | €20,464 | €16,436 | €15,831 | ▼ 3.7% |
| Other amounts payable47/48 | €72,034 | €70,410 | €70,000 | €70,000 | €70,000 | = |
| Accrued charges and deferred income492/3 | - | €28,865 | €0 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €37,910 | €51,139 | €47,574 | €144,953 | €45,833 | ▼ 68.4% |
| + Depreciation and write-downs630 | €2,431 | €932 | €4,653 | €12,380 | €16,848 | ▲ 36.1% |
| Operating cash flow (approximation) | €40,341 | €52,071 | €52,227 | €157,333 | €62,681 | ▼ 60.2% |
| Investment in fixed assets (approximation) | - | -€1,442 | -€29,741 | -€44,931 | €1,107 | ▲ 102% |
| Change in cash | - | -€19,098 | -€5,416 | €87,694 | €32,803 | ▼ 62.6% |
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
15-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
07-07
State Gazette act
Registered officeRegistered-office move · Power of attorney3 facts ▸
State Gazette act
Registered office
Registered-office move · Power of attorney3 facts ▸
- Board meeting, 29-06-2026
- Registered-office move, Leo Bekaertlaan 2, 8870 Izegem
- Power of attorney, NV TITECA
2025
16-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Highest result since 2020net €144,953 ▲205%
Operating result €202,044, net result €144,953, both a record.
31-12
Financial
Equity above €200,000Eq €308,492 ▲88.6%
5 profitable years in a row build equity to €308,492.
27-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 27 days late
2023
31-12
Financial
Equity above €150,000Eq €163,540 ▲41%
4 profitable years in a row build equity to €163,540.
05-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Equity above €100,000Eq €115,965 ▲78.9%
3 profitable years in a row build equity to €115,965.
07-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
24-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 24 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 4 acts read
About the unread acts
Of the 4 Belgian State Gazette acts we know for this company, 1 has been read. The other 3 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
4 acts for this company are in the Belgian State Gazette, of which we have read 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Izegem · 1 establishment unit since 2020
Ground area
2.1 ha
Building footprint
1,525 m²
Volume, LiDAR
9,647 m³
2 parcels, Flanders · tallest building 7.0 m, ±2 floors. Linked by address, not a title deed.
6
companies at this address
See who is registered here
1 establishment unit
Petac
since 20202.300.408.745
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 36009A0505/00E003 | Flanders | 1.1 ha | - | - |
| 36505C0011/00Y000 | Flanders | 9,787 m² | 1 · 1,525 m² | 7.0 m · 2 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
2 ownersOwners 2
-
25%
-
25%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts 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.
Public money · subsidies and aid
Flemish government
2024 · 1 entry · 1,283 EUR awarded · 1,283 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 1,283 EUR | 1,283 EUR |
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Of 4,269 companies in sector 43230 we hold annual accounts for 1,239. 846 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
Founded07-02-2020
Fiscal year end31-12
Activities, NACEBEL 2025
43230Insulation installation
46839Wholesale trade
43320Joinery installation
46130Agents in the wholesale of timber and building materials
E-invoicing
Reachable via Peppol
Peppol ID
0208:0743422351
Also
9925:BE0743422351
Registered
18-12-2024
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.