Liquidity
Short-term debts fell from €43,438 to €22,238.
Short-term debts fell from €43,438 to €22,238.
The 2020 accounts came latest: 31 days after the end of the period.
The dashed line is the sector median: 1.5% across 13,458 companies (NACE 41, micro).
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 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% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 41, micro). It does better than 67% of them on solvency, 61% on liquidity, 56% on profitability and 58% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the moderate class on 30-06-2025, 2.4% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 26,972 companies had the same profile as PGL CONSTRUCT has now. Each dot stands for 68 companies, two years later.
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of PGL CONSTRUCT itself: 1.6% within 12 months.
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 26,972 companies, not a prediction for PGL CONSTRUCT. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Liquidity is ample, with a current ratio of 2.25 (1.43 in 2024), above the usual 1.5. Short-term debt is 35.1% and cash 17.4% of total assets. 41.7% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 6 accounts on average 27 days after the deadline. In the sector (NACE 41), the median for financial year 2024 was on the deadline day, and 46% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| PGL CONSTRUCT Sint-Pieters-Leeuw | €63,313 | €29,243 | 58.3% | - |
| EF Genk | €70,560 | €28,500 | 79.6% | - |
| Wallyfix Lochristi | €60,232 | €26,845 | 9.0% | - |
| BRAVOLT Antwerp | €66,060 | €27,064 | 98.5% | - |
| Bouwwerken Pierre Vastmans Bree | €81,193 | €28,126 | 58.2% | - |
| AMO BUILD Machelen (Brab.) | €74,492 | €26,705 | 40.4% | - |
| IDEFIX Scherpenheuvel-Zichem | €40,326 | €28,179 | 80.6% | - |
These companies have the same main activity as PGL CONSTRUCT: general construction of other non-residential buildings (NACE 41003). They are comparable in size and age: total assets between €40,300 and €81,200, founded between 2019 and 2021.
PGL CONSTRUCT files the micro format. That format states no turnover. The gross margin rose from €4,176 in 2020 to €29,243 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €200,000. Estimated: probably between €110,000 and €360,000.
Higher than 66% of 9,462 companies in 2025.
Higher than 63% of 9,210 companies in 2025.
Higher than 50% of 9,282 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: middle half · Working capital: middle half
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||
20/58 |
63,313 | 92,407 | 75,185 | 27,861 | 47,477 | 9,411 | |
21/28 |
13,243 | 30,103 | 36,831 | 4,217 | 28,410 | 2,385 | |
22/27 |
13,243 | 30,103 | 36,831 | 4,217 | 28,410 | 2,385 | |
23 |
4,597 | 3,765 | 1,214 | 2,954 | 4,916 | 2,385 | |
24 |
8,646 | 26,337 | 35,617 | 1,264 | 23,494 | - | |
29/58 |
50,070 | 62,304 | 38,353 | 23,644 | 19,067 | 7,027 | |
3 |
6,080 | 3,811 | - | - | - | - | |
30/36 |
6,080 | 3,811 | - | - | - | - | |
40/41 |
28,487 | 51,319 | 28,359 | 16,680 | 11,468 | 4,340 | |
40 |
22,998 | 46,754 | 18,682 | 14,885 | 4,920 | 4,340 | |
41 |
5,490 | 4,564 | 9,677 | 1,796 | 6,548 | - | |
54/58 |
11,021 | 4,999 | 9,487 | 6,456 | 7,068 | 2,687 | |
490/1 |
4,481 | 2,175 | 507 | 508 | 531 | - | |
| Balance sheet: equity and liabilities | |||||||
10/49 |
63,313 | 92,407 | 75,185 | 27,861 | 47,477 | 9,411 | |
10/15 |
36,885 | 32,615 | 33,016 | 27,804 | 18,915 | 5,270 | |
10/11 |
3,000 | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | |
14 |
33,885 | 29,615 | 30,016 | 24,804 | 15,915 | 2,270 | |
17/49 |
26,428 | 59,792 | 42,169 | 57 | 28,562 | 4,141 | |
17 |
4,190 | 16,353 | 27,931 | - | 10,318 | - | |
170/4 |
4,190 | 16,353 | 27,931 | - | 10,318 | - | |
42/48 |
22,238 | 43,438 | 14,238 | 57 | 18,244 | 4,141 | |
42 |
12,164 | 11,577 | 11,019 | - | 7,496 | - | |
44 |
7,671 | 31,861 | 3,218 | 57 | 6,658 | 1,390 | |
440/4 |
7,671 | 31,861 | 3,218 | 57 | 6,658 | 1,390 | |
45 |
2,404 | - | - | - | 3,559 | 2,751 | |
450/3 |
2,404 | - | - | - | 3,559 | 2,751 | |
47/48 |
- | - | - | - | 530 | - | |
| Income statement | |||||||
9900 |
29,243 | 19,848 | 22,485 | 27,667 | 24,370 | 4,176 | |
630 |
19,970 | 18,027 | 13,852 | 5,274 | 6,935 | 1,438 | |
640/8 |
1,254 | 296 | 236 | 10,715 | 198 | - | |
9901 |
8,019 | 1,525 | 8,397 | 11,678 | 17,237 | 2,738 | |
75/76B |
0 | 0 | 5 | 1 | 45 | 0 | |
75 |
0 | 0 | 5 | 1 | 45 | 0 | |
65/66B |
1,345 | 1,927 | 1,896 | 593 | 475 | 70 | |
65 |
1,345 | 1,927 | 1,896 | 593 | 475 | 70 | |
9903 |
6,674 | -402 | 6,506 | 11,086 | 16,806 | 2,668 | |
67/77 |
2,404 | - | 1,294 | 2,197 | 3,162 | 397 | |
9904 |
4,270 | -402 | 5,213 | 8,889 | 13,645 | 2,270 | |
9905 |
4,270 | -402 | 5,213 | 8,889 | 13,645 | 2,270 | |
| Appropriation of the result | |||||||
9906 |
33,885 | 29,615 | 30,016 | 24,804 | 15,915 | 2,270 | |
14P |
29,615 | 30,016 | 24,804 | 15,915 | 2,270 | - | |
| Document | |||||||
The notes to these accounts have 6 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 31-08-2026.
2025 annual accounts filed 31 days after the deadline. Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00497914.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 31-08-2026 | 2026-00497914 | |
| 31-12-2024 | micro format | 29-08-2025 | 2025-00469706 | |
| 31-12-2023 | micro format | 29-08-2024 | 2024-00394816 | |
| 31-12-2022 | micro format | 28-08-2023 | 2023-00359619 | |
| 31-12-2021 | micro format | 15-08-2022 | 2022-20288979 | |
| 31-12-2020 | micro format | 31-08-2021 | 2021-66300525 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| 27,989 | 19,552 | 22,250 | 16,952 | 24,171 | 4,176 | ||
| 24,240 | 17,625 | 19,065 | 14,162 | 20,579 | 3,708 | ||
| 3,110 | 11,298 | 46,467 | 399 | 32,960 | 2,722 | ||
| 6,022 | -4,488 | 3,032 | -612 | 4,381 | - | ||
| 27,832 | 18,865 | 24,116 | 23,587 | 824 | 2,886 | ||
| 58.3% | 35.3% | 43.9% | 99.8% | 39.8% | 56.0% | ||
| 2.25 | 1.43 | 2.69 | - | 1.05 | 1.70 | ||
| 1.98 | 1.35 | 2.69 | - | 1.05 | 1.70 | ||
| 0.72 | 1.83 | 1.28 | 0.00 | 1.51 | 0.79 | ||
| 11.6% | -1.2% | 15.8% | 32.0% | 72.1% | 43.1% | ||
| 6.7% | -0.4% | 6.9% | 31.9% | 28.7% | 24.1% | ||
| 20.81 | 10.15 | 11.74 | 28.58 | 50.84 | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €3,110 | €11,298 | €46,467 | €399 | €32,960 |
| €19,970 | €18,027 | €13,852 | €5,274 | €6,935 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is nearly 5.3 times that of 2024. It is a recovery after the fall in 2024.
Debt's share of the balance-sheet total falls from 64.7% to 41.7%. Equity is higher and debt is lower.
PGL CONSTRUCT has no parent and no holdings in its annual accounts. PAUL Grigore Cristian is the only director. PGL CONSTRUCT shares no director with another company.
| BILD CONCEPT
registered office since 26-10-2022 · founded in 2022 |
turnover €2.2m (2025) 0792.929.369 |
| DEMO GROUP
registered office since 09-03-2021 · founded in 2021 · accounts filed late |
turnover €1.8m (2024) 0764.843.020 |
| ED MOTOR
registered office since 13-07-2022 · founded in 2022 |
turnover €1.8m (2025) 0788.556.154 |
| LUITRADE
registered office since 14-05-2019 · founded in 2019 |
1.2 FTE (2023) 0726.753.001 |
| LIMO TRENDS
registered office since 16-11-2017 · founded in 2017 · accounts filed late |
total assets €1.5m (2024) 0684.767.837 |
| M.A. Solution
registered office since 02-12-2021 · founded in 2021 · accounts filed late |
turnover €606,633 (2025) 0777.963.952 |
| OST CONCEPT TOITURE
registered office since 02-06-2023 · founded in 2023 |
turnover €1.3m (2025) 0802.364.895 |
| ARKHE
registered office since 10-12-1987 · founded in 1987 |
turnover €1.3m (2025) 0432.804.694 |
| ANATOLI CONSTRUCT
registered office since 08-11-2022 · founded in 2022 |
turnover €1.3m (2025) 0793.406.352 |
| S&B PROF CONSTRUCT
registered office since 30-08-2022 · founded in 2022 · accounts filed late |
turnover €1.1m (2024) 0790.208.619 |
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
On 20 March 2020, PGL CONSTRUCT was incorporated as a private limited company by one natural person, with a starting capital of €3,000.12 In 2024 the registered office moved to Sint-Pieters-Leeuw.3 PAUL Grigore Cristian is director of the company, appointed by deed of 24-03-2020.2 Total assets went from €9,411 in 2020 to €63,313 in 2025.4
| Establishment | Since | Unit number |
|---|---|---|
| Bergensesteenweg 24 registered office 1600 Sint-Pieters-Leeuw | ||
| Rue des Comtes de Robiano 33 1440 Braine-le-Château 2511001 Manufacture of metal structures and parts of structures | 01-04-2020 | 2.301.347.071 |
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 23077A0118/00W082 | Flanders | 1,638 m² | 1 · 398 m² | 9.5 m · 3 |
| 25015E0240/00R000 | Wallonia | 224 m² | 1 · 65 m² | 12.3 m · 4 |
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0745.558.628
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