PGL CONSTRUCT
ActiveSummary
The computed 12-month bankruptcy probability of PGL CONSTRUCT is 1.8% (moderate). The 2025 annual accounts show equity of €37k and a net result of €4k. Equity is growing by ~17.3% per year across the filed fiscal years. Its solvency ranks better than 66% of 7500 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
Profitability77▲+9
Solvency83▲+23
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
1.8%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €2k at 30 days acceptable
Liquidity ample (current ratio 2.25 against 1.43 in 2024; short-term debt: 35.1% and cash: 17.4% of total assets), and 41.7% of the assets are financed with debt.
Credit check for your own amount and term
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 41
Relative position
BE, all sectors
reference
Construction of residential and non-residential buildings (NACE 41)
about 67% 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
58.3%
Return on assets
6.7%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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 · 6 filingsDeviation from the deadline
2025
31 d late
2024
29 d late
2023
29 d late
2022
28 d late
2021
15 d late
2020
31 d late
← before the deadline
after the deadline →
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€37k▲ 13.1%
2024 · €33k
2020: €5klowest in 6 years
2021: €19k▲ +259% vs 2020
2022: €28k▲ +47.0% vs 2021
2023: €33k▲ +18.7% vs 2022
2024: €33k▼ -1.2% vs 2023
2025: €37k▲ +13.1% vs 2024highest in 6 years
2020 → 2025
Total assets
€63k▼ 31.5%
2024 · €92k
2020: €9klowest in 6 years
2021: €47k▲ +404% vs 2020
2022: €28k▼ -41.3% vs 2021
2023: €75k▲ +170% vs 2022
2024: €92k▲ +22.9% vs 2023highest in 6 years
2025: €63k▼ -31.5% vs 2024
2020 → 2025
Net result
€4k
2024 · €-402
2020: €2k
2021: €14k▲ +501% vs 2020highest in 6 years
2022: €9k▼ -34.9% vs 2021
2023: €5k▼ -41.4% vs 2022
2024: €-402▼ -108% vs 2023lowest in 6 years
2025: €4k▲ +1163% vs 2024
2020 → 2025
Working capital
€28k▲ 47.5%
2024 · €19k
2020: €3k
2021: €824▼ -71.5% vs 2020lowest in 6 years
2022: €24k▲ +2764% vs 2021
2023: €24k▲ +2.2% vs 2022
2024: €19k▼ -21.8% vs 2023
2025: €28k▲ +47.5% vs 2024highest in 6 years
2020 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€19k-€28k▲ 47.0%€33k▲ 18.7%€33k▼ 1.2%€37k▲ 13.1%
2021: €19klowest in 5 years
2022: €28k▲ +47.0% vs 2021
2023: €33k▲ +18.7% vs 2022
2024: €33k▼ -1.2% vs 2023
2025: €37k▲ +13.1% vs 2024highest in 5 years
Operating result€17k-€12k▼ 32.2%€8k▼ 28.1%€2k▼ 81.8%€8k▲ 426%
2021: €17khighest in 5 years
2022: €12k▼ -32.2% vs 2021
2023: €8k▼ -28.1% vs 2022
2024: €2k▼ -81.8% vs 2023lowest in 5 years
2025: €8k▲ +426% vs 2024
Net result€14k-€9k▼ 34.9%€5k▼ 41.4%€-402€4k
2021: €14khighest in 5 years
2022: €9k▼ -34.9% vs 2021
2023: €5k▼ -41.4% vs 2022
2024: €-402▼ -108% vs 2023lowest in 5 years
2025: €4k▲ +1163% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 426% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €63k
Fixed assets
€13k ▼ 56.0%
Current assets
€50k ▼ 19.6%
Equity and liabilities €63k
Equity
€37k ▲ 13.1%
Debt
€26k ▼ 55.8%
Debt's share of the balance-sheet total falls from 64.7% to 41.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€28k▲
2024 · €20k
Cash flow
€24k▲
2024 · €18k
Current ratio
2.25▲
2024 · 1.43
Quick ratio
1.98▲
2024 · 1.35
Debt to equity
0.72▼
2024 · 1.83
ROE
11.6%▲
2024 · -1.2%
ROA
6.7%▲
2024 · -0.4%
Interest coverage
20.81▲
2024 · 10.15
Debt ≤ 1 year
€22k▼
2024 · €43k
Debt > 1 year
€4k▼
2024 · €16k
Income taxes
€2k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 40 lines
Balance sheet
Code20242025
Assets
Total assets20/58€92k€63k▼
Fixed assets21/28€30k€13k▼
Tangible fixed assets22/27€30k€13k▼
Plant, machinery and equipment23€4k€5k▲
Furniture and vehicles24€26k€9k▼
Current assets29/58€62k€50k▼
Stocks and contracts in progress3€4k€6k▲
Stocks30/36€4k€6k▲
Amounts receivable within one year40/41€51k€28k▼
Trade receivables40€47k€23k▼
Other amounts receivable41€5k€5k▲
Cash at bank and in hand54/58€5k€11k▲
Deferred charges and accrued income490/1€2k€4k▲
Equity and liabilities
Total equity and liabilities10/49€92k€63k▼
Equity10/15€33k€37k▲
Contributions10/11€3k€3k=
Profit (loss) carried forward14€30k€34k▲
Amounts payable17/49€60k€26k▼
Amounts payable after more than one year17€16k€4k▼
Financial debts170/4€16k€4k▼
Amounts payable within one year42/48€43k€22k▼
Current portion of amounts payable after more than one year42€12k€12k▲
Trade debts44€32k€8k▼
Suppliers440/4€32k€8k▼
Taxes, remuneration and social security45-€2k
Taxes450/3-€2k
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€18k€20k▲
Other operating charges640/8€296€1k▲
Gross operating margin9900€20k€29k▲
Operating profit (loss)9901€2k€8k▲
Financial income75/76B€0€0▲
Recurring financial income75€0€0▲
Financial charges65/66B€2k€1k▼
Recurring financial charges65€2k€1k▼
Profit (loss) for the period before taxes9903€-402€7k▲
Income taxes67/77-€2k
Profit (loss) for the period9904€-402€4k▲
Profit (loss) for the period to be appropriated9905€-402€4k▲
Appropriation of the result
Profit (loss) to be appropriated9906€30k€34k▲
Profit (loss) brought forward from the previous period14P€30k€30k▼
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7k | €5k | €14k | €18k | €20k | ▲ 10.8% |
| Other operating charges640/8 | €198 | €11k | €236 | €296 | €1k | ▲ 323% |
| Gross operating margin9900 | €24k | €28k | €22k | €20k | €29k | ▲ 47.3% |
| Operating profit (loss)9901 | €17k | €12k | €8k | €2k | €8k | ▲ 426% |
| Financial income75/76B | €45 | €1 | €5 | €0 | €0 | ▲ 1,100% |
| Recurring financial income75 | €45 | €1 | €5 | €0 | €0 | ▲ 1,100% |
| Financial charges65/66B | €475 | €593 | €2k | €2k | €1k | ▼ 30.2% |
| Recurring financial charges65 | €475 | €593 | €2k | €2k | €1k | ▼ 30.2% |
| Profit (loss) for the period before taxes9903 | €17k | €11k | €7k | €-402 | €7k | ▲ 1,761% |
| Income taxes67/77 | €3k | €2k | €1k | - | €2k | - |
| Profit (loss) for the period9904 | €14k | €9k | €5k | €-402 | €4k | ▲ 1,163% |
| Profit (loss) for the period to be appropriated9905 | €14k | €9k | €5k | €-402 | €4k | ▲ 1,163% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €47k | €28k | €75k | €92k | €63k | ▼ 31.5% |
| Fixed assets21/28 | €28k | €4k | €37k | €30k | €13k | ▼ 56.0% |
| Tangible fixed assets22/27 | €28k | €4k | €37k | €30k | €13k | ▼ 56.0% |
| Plant, machinery and equipment23 | €5k | €3k | €1k | €4k | €5k | ▲ 22.1% |
| Furniture and vehicles24 | €23k | €1k | €36k | €26k | €9k | ▼ 67.2% |
| Current assets29/58 | €19k | €24k | €38k | €62k | €50k | ▼ 19.6% |
| Stocks and contracts in progress3 | - | - | - | €4k | €6k | ▲ 59.5% |
| Stocks30/36 | - | - | - | €4k | €6k | ▲ 59.5% |
| Amounts receivable within one year40/41 | €11k | €17k | €28k | €51k | €28k | ▼ 44.5% |
| Trade receivables40 | €5k | €15k | €19k | €47k | €23k | ▼ 50.8% |
| Other amounts receivable41 | €7k | €2k | €10k | €5k | €5k | ▲ 20.3% |
| Cash at bank and in hand54/58 | €7k | €6k | €9k | €5k | €11k | ▲ 120% |
| Deferred charges and accrued income490/1 | €531 | €508 | €507 | €2k | €4k | ▲ 106% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €47k | €28k | €75k | €92k | €63k | ▼ 31.5% |
| Equity10/15 | €19k | €28k | €33k | €33k | €37k | ▲ 13.1% |
| Contributions10/11 | €3k | €3k | €3k | €3k | €3k | = |
| Profit (loss) carried forward14 | €16k | €25k | €30k | €30k | €34k | ▲ 14.4% |
| Amounts payable17/49 | €29k | €57 | €42k | €60k | €26k | ▼ 55.8% |
| Amounts payable after more than one year17 | €10k | - | €28k | €16k | €4k | ▼ 74.4% |
| Financial debts170/4 | €10k | - | €28k | €16k | €4k | ▼ 74.4% |
| Amounts payable within one year42/48 | €18k | €57 | €14k | €43k | €22k | ▼ 48.8% |
| Current portion of amounts payable after more than one year42 | €7k | - | €11k | €12k | €12k | ▲ 5.1% |
| Trade debts44 | €7k | €57 | €3k | €32k | €8k | ▼ 75.9% |
| Suppliers440/4 | €7k | €57 | €3k | €32k | €8k | ▼ 75.9% |
| Taxes, remuneration and social security45 | €4k | - | - | - | €2k | - |
| Taxes450/3 | €4k | - | - | - | €2k | - |
| Other amounts payable47/48 | €530 | - | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €14k | €9k | €5k | €-402 | €4k | ▲ 1,163% |
| + Depreciation and write-downs630 | €7k | €5k | €14k | €18k | €20k | ▲ 10.8% |
| Operating cash flow (approximation) | €21k | €14k | €19k | €18k | €24k | ▲ 37.5% |
| Investment in fixed assets (approximation) | - | €19k | €-46k | €-11k | €-3k | ▲ 72.5% |
| Change in cash | - | €-612 | €3k | €-4k | €6k | ▲ 234% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
31-12
Financial
Back to profitnet €4k
Net result €4k after one loss-making year.
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
31-12
Financial
Weakest financial yearnet €-402
Net result drops to €-402, the lowest in the series; recovery starts the following year.
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 29 days late
2023
28-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 28 days late
2022
31-12
Financial
Liquidity times 395current ratio 412.71
Current ratio from 1.05 to 412.71; short-term debt falls from €18k to €57.
15-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 15 days late
2021
31-12
Financial
Highest result since 2020net €14k ▲501%
Operating result €17k, net result €14k, both a record.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Sint-Pieters-Leeuw · 1 establishment unit since 2020
Ground area
1,862 m²
Building footprint
463 m²
Volume, LiDAR
3,888 m³
2 parcels, Flanders, Wallonia · tallest building 12.3 m, ±4 floors. Linked by address, not a title deed.
510
companies at this address
See who is registered here
1 establishment unit
PGL CONSTRUCT
since 20202.301.347.071
2 parcels
Flanders
1
(50%)
Wallonia
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23077A0118/00W082 | Flanders | 1,638 m² | 1 · 398 m² | 9.5 m · 3 fl. |
| 25015E0240/00R000 | Wallonia | 224 m² | 1 · 65 m² | 12.3 m · 4 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.
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Of 2,451 companies in sector 41003 we hold annual accounts for 1,055. 672 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
Founded20-03-2020
Fiscal year end31-12
Activities, NACEBEL 2025
41003General construction of other non-residential buildings
43990Other specialised construction activities
81210General cleaning of buildings
Scores and ratios are computed by Checked and are not a credit decision.