pgb-Holding
ActiveSummary
pgb-Holding has been active since 2024 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €41.4m and a net result of -€2.7m. Its solvency ranks better than 38% of 3221 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes
Profitability31
Solvency64
Growth-
Track record67
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €150,000 at 30 days only on tighter terms
Liquidity short (current ratio 0.44; short-term debt: 3.6% and cash: 1.5% of total assets), and 60.9% 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
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Young company
A young company has little track record yet and statistically fails more often than an established one.
KBO · incorporation dateAge against the risk zone
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
39.1%
Return on assets
-2.5%
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 06-07-2026, 25 days ahead of the deadline.
NBB · 1 filingDeviation from the deadline
2025
25 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
History
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Financials · fiscal year 2025, full schema
In the rankings
#7 company by total assets in Merelbeke-Melle, Professional and technical services sector#9 company by equity in Merelbeke-Melle, Professional and technical services sector
Turnover
€1.5m
EBIT margin
-35.8%
Net result
-€2.7m
Working capital
-€2.2m
Balance-sheet composition
Assets €106.1m
Fixed assets
€104.4m
Current assets
€1.7m
Equity and liabilities €106.1m
Equity
€41.4m
Debt
€64.6m
Debt finances 60.9% of the balance-sheet total.
Key figures and ratios
Current ratio
0.44
Debt to equity
1.56
ROE
-6.5%
ROA
-2.5%
Debt ≤ 1 year
€3.9m
Debt > 1 year
€60.0m
Annual accounts
| Line | 2025 |
|---|---|
| Operating income70/76A | €1.5m |
| Turnover70 | €1.5m |
| Operating charges60/66A | €2.1m |
| Services and other goods61 | €2.1m |
| Other operating charges640/8 | €926 |
| Operating profit (loss)9901 | -€551,760 |
| Financial income75/76B | €850,515 |
| Recurring financial income75 | €850,515 |
| Income from financial fixed assets750 | €838,959 |
| Other financial income752/9 | €11,556 |
| Financial charges65/66B | €3.0m |
| Recurring financial charges65 | €3.0m |
| Debt charges650 | €2.4m |
| Other financial charges652/9 | €612,293 |
| Profit (loss) for the period before taxes9903 | -€2.7m |
| Profit (loss) for the period9904 | -€2.7m |
| Profit (loss) for the period to be appropriated9905 | -€2.7m |
| Line | 2025 | |
|---|---|---|
| Assets | ||
| Total assets20/58 | €106.1m | |
| Fixed assets21/28 | €104.4m | |
| Financial fixed assets28 | €104.4m | |
| Affiliated companies280/1 | €104.4m | |
| Participating interests280 | €84.4m | |
| Amounts receivable281 | €20.0m | |
| Current assets29/58 | €1.7m | |
| Stocks and contracts in progress3 | €0 | |
| Amounts receivable within one year40/41 | €150,861 | |
| Trade receivables40 | €141,193 | |
| Other amounts receivable41 | €9,668 | |
| Cash at bank and in hand54/58 | €1.5m | |
| Deferred charges and accrued income490/1 | €2,703 | |
| Equity and liabilities | ||
| Total equity and liabilities10/49 | €106.1m | |
| Equity10/15 | €41.4m | |
| Contributions10/11 | €44.1m | |
| Profit (loss) carried forward14 | -€2.7m | |
| Amounts payable17/49 | €64.6m | |
| Amounts payable after more than one year17 | €60.0m | |
| Financial debts170/4 | €60.0m | |
| Credit institutions173 | €60.0m | |
| Amounts payable within one year42/48 | €3.9m | |
| Current portion of amounts payable after more than one year42 | €3.7m | |
| Trade debts44 | €167,534 | |
| Suppliers440/4 | €167,534 | |
| Accrued charges and deferred income492/3 | €817,889 | |
| Line | 2025 |
|---|---|
| Profit (loss) for the period9904 | -€2.7m |
| Operating cash flow (approximation) | -€2.7m |
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
2026
13-07
State Gazette act
Statutes amendmentShare issue5 facts ▸
State Gazette act
Statutes amendment
Share issue5 facts ▸
- General meeting, buitengewone algemene vergadering
- Share issue, EUR, 1
- Other statement, verklaring comparanten over uitgifteprijs en gevolgen, uitgifteprijs van de aandelen en financiële gevolgen van de verrichting voor de aandeelhouders
- Statutes amendment, 5
- Other statement, publicatiekenmerk, 26344779
13-07
State Gazette act
Permanent representative: Adriaan De LeeuwCapital increase · Statutes amendment5 facts ▸
State Gazette act
Permanent representative: Adriaan De Leeuw
Capital increase · Statutes amendment5 facts ▸
- General meeting, BE1017.651.051, 9090 Merelbeke-Melle, Gontrode Heirweg 318
- Capital increase, €8.100.000
- Other statement, kennis uitgifteprijs en financiële gevolgen, perfect op hoogte van uitgifteprijs en financiële gevolgen verrichting voor aandeelhouders
- Statutes amendment, 5
- Permanent representative, Adriaan De Leeuw (permanent representative)
06-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
State Gazette actNBB filing
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, Merelbeke-Melle · 1 establishment unit since 2025
Ground area
3.7 ha
Building footprint
1.1 ha
Volume, LiDAR
107,420 m³
Parcel 44040C0365/00C000, Flanders · tallest building 10.9 m, ±3 floors. Linked by address, not a title deed.
6
companies at this address
See who is registered here
1 establishment unit
pgb-Holding
since 20252.371.078.292
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44040C0365/00C000 | Flanders | 3.7 ha | 1 · 1.1 ha | 10.9 m · 3 fl. |
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
Owners and holdings
5 owners · 1 holding · 6 subsidiaries in the treeChain of control
- WPEF IX Holdco 28NL
- pgb-Holding
Highest known parent: WPEF IX Holdco 28 (Netherlands). The sources do not say who stands above it.
Owners 5
- WPEF IX Holdco 28NLparentSourceown accounts 202559.7%
- Frederik Pennoitnatural personSourceown accounts 202513.27%
- Stefanie Pennoitnatural personSourceown accounts 202513.27%
- Vincent Pennoitnatural personSourceown accounts 202513.27%
-
0.49%
Holdings 1
- pgb-InternationalsubsidiaryEquity €25.4mResult €1.9m100%
All subsidiaries, including indirect ones 6
Companies in which this company or one of its subsidiaries holds more than half, or which it consolidates according to the LEI register.
pgb-International 100%5 subsidiaries
- Gebu VolcoNL 100%
- PGB-Asia LimitedHK 100%
- pgb-Europe 100%
- PGB-France sarlFR 100%
- PGB-Polska sp. z.o.o.PL 100%
According to the 2025 annual accounts of pgb-Holding and those 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.
Recognitions · licences · registrations
Legal Entity Identifier
69940025ITPZWPCQ3K18
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Of 5,712 companies in sector 70100 we hold annual accounts for 3,518. 485 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
Founded19-12-2024
Fiscal year end31-12
Activities, NACEBEL 2025
70100Activities of head offices
64999Other financial services
E-invoicing
Reachable via Peppol
Peppol ID
0208:1017651051
Also
9925:BE1017651051
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.