Financials
- Fiscal year
- 2024
- Total assets
- €1.2m
- Loss
- -€59,274
- Solvency
- -1.6%
Total assets▼ 8.1%
Net result
20222024
PGHM Distribution
ActiveSummary
The computed 12-month bankruptcy probability of PGHM Distribution is 4.3% (elevated). The 2024 annual accounts show negative equity (-€19,477) and a net result of -€59,274. Equity is shrinking by ~363.7% per year across the filed fiscal years. Its solvency ranks better than 22% of 26069 sector peers (fiscal year 2024). The company has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals.
Overview
Activity
Non-specialised retail sale with food, beverages or tobacco predominating
NACE 47110Supermarkets NACE 47114
#7 company by total assets in Paliseul, Wholesale and retail trade sector1 site
Size
€1.2mtotal assets 2024
- Staff
- 6.5 FTE
- Equity
- -€19,477
- Loss
- -€59,274
Turnover not published (abridged schema)
Structure
- Largest shareholder
- ADITOM · 20%
- Board
- 1 member
Accounts 65 d overdue1 of 2 deeds read
Why 46- 1 financial year not filed after the legal deadline; latest accounts 68 days late; 2 of the last 3 late- Figures for FY 2024 (filed 10-10-2025)- Negative equity -€19,477+ Size: total assets €1.2mShow the evidence
Checked score
Score 2024
46
/ 100
Fair
Probability in this band: 1.5% to 4.2%
Better than 17% of its sector peers (NACE 47, micro)
Performance against the sector, not lower risk
Financial strength · tick = 2023
Weak
Solvency
23-5
equity -1.6% of total assets
Liquidity
18-8
short-term debt 64.9% · cash 1.7%
Profitability
36+36
return on assets -5.0%
Bankruptcy probability, 12 months
4.3%
Elevated
0%0.5%1.5%4%10%≥ 25%
About 4 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
11-2024: 2.9%
12-2024: 2.9%● 0.0% vs 11-2024
01-2025: 2.8%▼ -1.4% vs 12-2024
02-2025: 2.8%● 0.0% vs 01-2025
03-2025: 2.8%● 0.0% vs 02-2025
04-2025: 2.9%▲ +1.0% vs 03-2025
05-2025: 2.9%▲ +1.1% vs 04-2025
06-2025: 3.0%▲ +3.9% vs 05-2025
07-2025: 3.0%▲ +0.8% vs 06-2025
08-2025: 3.7%▲ +22.2% vs 07-2025
09-2025: 3.9%▲ +4.5% vs 08-2025
10-2025: 4.9%▲ +27.1% vs 09-2025highest value
11-2025: 2.6%▼ -46.4% vs 10-2025
12-2025: 2.4%▼ -9.3% vs 11-2025
01-2026: 2.4%▼ -1.2% vs 12-2025lowest value
02-2026: 2.4%● 0.0% vs 01-2026lowest value
03-2026: 2.4%● 0.0% vs 02-2026lowest value
04-2026: 2.4%▲ +1.1% vs 03-2026
05-2026: 2.4%▲ +2.0% vs 04-2026
06-2026: 2.5%▲ +2.7% vs 05-2026
07-2026: 2.6%▲ +1.9% vs 06-2026
08-2026: 3.2%▲ +23.3% vs 07-2026
09-2026: 3.4%▲ +7.1% vs 08-2026
10-2026: 4.3%▲ +26.2% vs 09-2026
- 1 financial year not filed after the legal deadline; latest accounts 68 days late; 2 of the last 3 late raises the probability
- Figures for FY 2024 (filed 10-10-2025) raises the probability
- Size: total assets €1.2m lowers the probability for this profile
- Negative equity -€19,477 raises the probability
No credit on open account
Liquidity short (current ratio 0.4 against 0.43 in 2023; short-term debt: 64.9% and cash: 1.7% of total assets), and equity is negative.
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 (NACE 47, micro). Better than this share of them on solvency 18%, liquidity 16%, profitability 28%, growth against the median 4%. 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.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Negative equity
The 2024 annual accounts show negative equity and a net loss.
NBB · annual accounts 2024Equity per financial year
222324
2022 to 2024 · latest year -€19,477
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 · 3 filingsDeviation from the deadline
2025
not confirmed
2024
68 d late
2023
68 d late
2022
4 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 3 accounts on average 44 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 47% of the sector filed late.
Checked, nothing found (1)
- Resignation: ADITOM (director)Appointment: Jonathan DEFOUR (director) ·…
- Annual accounts filedfiscal year 2024 · micro…
- Annual accounts filedfiscal year 2023 · micro…
Key points
- Risk: Negative equityfiscal year 2024: debts exceed assets -€19,477 View
- Caution: Among the weakest 5% on net resultsector median €4,449 · 26,038 companies -€59,274 View
- Positive: Result rose in 2024from -€230,226 to -€59,274 ▲ 74.3% View
- Caution: Accounts not fileddeadline was 31-07-2026 65 d late View
- Caution: Board changedlatest change 20-03-2026 · 1 in office 1 joined · 1 left View
- Caution: 2 loss-making years in a rowloss fiscal year 2024 -€59,274 View
By topic
Board & ownership
- Board
- 1 member
- Largest shareholder
- ADITOM · 20%
Go to Board & ownership
Timeline
- Events
- 5
- Since
- 2023
- 20-03-2026Resignation: ADITOM (director)
- 07-10-2025Annual accounts filed
- 07-10-2024Annual accounts filed
Company details
- Sites
- 1
- Legal form
- Private limited company
- Activity
- Non-specialised retail sale with food, beverages or tobacco…NACE 47110
- Founded
- 11-04-2022
- Year ends
- 31-12
- Peppol
- Reachable for e-invoices
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
Your own company? See how customers, suppliers and banks see it and what to improve first.
Investigating this company? Keep it with today's facts in a case file.