pH-20
ActiveSummary
pH-20 has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €402k and a net result of €64k. Equity is growing by ~3.6% per year across the filed fiscal years. Its solvency ranks better than 82% of 11322 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2025
78
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability85▼-2
Solvency100=
Growth52=
Track record94
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €30k at 30 days acceptable
Liquidity ample (current ratio 4.74 against 3.72 in 2024; short-term debt: 19.2% and cash: 19% of total assets), and 19.2% of the assets are financed with debt.
Credit advice 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
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
80.8%
Return on assets
12.8%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Sector 46
higher
← fewer bankruptcies
more bankruptcies →
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 30-07-2026, 1 day ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
1 d early
2024
25 d late
2023
29 d late
2022
1 d early
2021
1 d early
← 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
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€402k=
2024 · €402k
2021: €309k
2022: €382k
2023: €402k
2024: €402k
2021 → 2025
Total assets
€497k▼ 6.6%
2024 · €532k
2021: €1.06M
2022: €679k
2023: €487k
2024: €532k
2021 → 2025
Net result
€64k▼ 16.3%
2024 · €76k
2021: €289k
2022: €73k
2023: €19k
2024: €76k
2021 → 2025
Working capital
€358k▲ 0.5%
2024 · €356k
2021: €301k
2022: €352k
2023: €370k
2024: €356k
2021 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€309k-€382k▲ 23.5%€402k▲ 5.1%€402k=€402k=
Operating result€431k-€111k▼ 74.3%€27k▼ 75.8%€90k▲ 236%€83k▼ 8.2%
Net result€289k-€73k▼ 74.9%€19k▼ 73.2%€76k▲ 291%€64k▼ 16.3%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 8% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €497k
Fixed assets
€44k ▼ 3.7%
Current assets
€453k ▼ 6.9%
Equity and liabilities €497k
Equity
€402k =
Debt
€96k ▼ 27.0%
Debt's share of the balance-sheet total falls from 24.6% to 19.2%. Debt is lower.
Key figures and ratios
EBITDA
€92k▼
2024 · €97k
Cash flow
€73k▼
2024 · €83k
Current ratio
4.74▲
2024 · 3.72
Quick ratio
4.56▲
2024 · 3.56
Debt to equity
0.24▼
2024 · 0.33
ROE
15.9%▼
2024 · 19.0%
ROA
12.8%▼
2024 · 14.3%
Interest coverage
20.02▼
2024 · 110.35
Debt ≤ 1 year
€96k▼
2024 · €131k
Income taxes
€19k▼
2024 · €22k
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 · 46 lines
Balance sheet
Code20242025
Assets
Total assets20/58€532k€497k▼
Fixed assets21/28€45k€44k▼
Tangible fixed assets22/27€45k€44k▼
Plant, machinery and equipment23€2k€2k▼
Furniture and vehicles24€6k€7k▲
Other tangible fixed assets26€37k€35k▼
Current assets29/58€487k€453k▼
Stocks and contracts in progress3€22k€17k▼
Stocks30/36€22k€17k▼
Amounts receivable within one year40/41€6k€44k▲
Trade receivables40€3k€34k▲
Other amounts receivable41€2k€10k▲
Current investments50/53€300k€296k▼
Cash at bank and in hand54/58€154k€94k▼
Deferred charges and accrued income490/1€6k€2k▼
Equity and liabilities
Total equity and liabilities10/49€532k€497k▼
Equity10/15€402k€402k=
Contributions10/11€20k€20k=
Reserves13€382k€382k=
Distributable reserves133€382k€382k=
Profit (loss) carried forward14€2-
Amounts payable17/49€131k€96k▼
Amounts payable within one year42/48€131k€96k▼
Trade debts44€28k€24k▼
Suppliers440/4€28k€24k▼
Taxes, remuneration and social security45€4k€2k▼
Taxes450/3€2k€2k▲
Remuneration and social security454/9€1k€0▼
Other amounts payable47/48€99k€69k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€6k€9k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€-198k€-156▲
Other operating charges640/8€184k€2k▼
Gross operating margin9900€82k€94k▲
Operating profit (loss)9901€90k€83k▼
Financial income75/76B€9k€4k▼
Recurring financial income75€9k€4k▼
Financial charges65/66B€875€5k▲
Recurring financial charges65€875€5k▲
Profit (loss) for the period before taxes9903€98k€82k▼
Income taxes67/77€22k€19k▼
Profit (loss) for the period9904€76k€64k▼
Profit (loss) for the period to be appropriated9905€76k€64k▼
Appropriation of the result
Profit (loss) to be appropriated9906€76k€64k▼
Profit (loss) brought forward from the previous period14P-€2
Profit to be distributed694/7€76k€64k▼
Return on contributions (dividend)694€76k€64k▼
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
30-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
25-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 25 days late
2024
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 29 days late
2023
31-12
Financial
Weakest financial yearnet €19k ▼73.2%
Net result drops to €19k, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity doublescurrent ratio 5.32
Current ratio from 2.19 to 5.32; short-term debt falls from €297k to €86k.
30-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
30-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 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, Gent · 1 establishment unit since 2020
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Coupure 2799000 GentGround area
198 m²
Building footprint
133 m²
Volume, LiDAR
1,462 m³
Parcel 44806F0580/00K011, Flanders · tallest building 14.2 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
pH-20
since 20202.309.340.663
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44806F0580/00K011 | Flanders | 198 m² | 1 · 133 m² | 14.2 m · 4 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage (source: regional heritage registers, Onroerend Erfgoed / patrimoine.brussels).
Recognitions · licences · registrations
Legal Entity Identifier
98450054QKD3F1405F90
Similar companies · same sector, comparable size
JO AND CO
BE 0460.764.054
Antwerpen · Eq €400,402
FABBLUE
BE 0788.512.703
Genk · Eq €400,263
PATRICK PARIS DISTRIBUTION
BE 0832.059.070
Asse · Eq €405,497
FOTEX
BE 0897.930.186
Ronse · Eq €396,920
BROOTHAERS
BE 0416.247.289
Grimbergen · Eq €392,165
Of 1,275 companies in sector 46160 we hold annual accounts for 685. 422 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded09-11-2020
Fiscal year end31-12
Activities, NACEBEL 2025
46160Agents in the wholesale of textiles, clothing, fur, footwear and leather goods
46190Agents in non-specialised wholesale trade
46411Wholesale trade
46900Non-specialised wholesale trade
70200Business and other management consultancy
73300Public relations and communication consultancy
Sources
Crossroads Bank for EnterprisesNational Bank · 5 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.
Contact details
1 entryE-mail:vandenheedejohan@gmail.com