PH&A
ActiveSummary
PH&A has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €363k and a net result of €38k. Equity is growing by ~46.3% per year across the filed fiscal years. Its solvency ranks better than 95% of 31791 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability81▲+12
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €30k at 30 days acceptable
Liquidity ample (current ratio 25.9 against 20.84 in 2024; short-term debt: 3.8% and cash: 29.6% of total assets), and 3.8% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five 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 →
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
96.2%
Return on assets
10.1%
Age of the figures
12 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 08-01-2026, 112 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
112 d early
2024
125 d early
2023
131 d early
2022
135 d early
2021
124 d early
2020
114 d early
2019
115 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 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€363k▲ 4.3%
2024 · €348k
2018: €31klowest in 8 years
2019: €54k▲ +75.7% vs 2018
2020: €83k▲ +54.5% vs 2019
2021: €133k▲ +60.2% vs 2020
2022: €160k▲ +20.2% vs 2021
2023: €312k▲ +94.8% vs 2022
2024: €348k▲ +11.6% vs 2023
2025: €363k▲ +4.3% vs 2024highest in 8 years
2018 → 2025
Total assets
€377k▲ 3.3%
2024 · €365k
2018: €43klowest in 8 years
2019: €64k▲ +47.1% vs 2018
2020: €92k▲ +44.7% vs 2019
2021: €145k▲ +57.5% vs 2020
2022: €174k▲ +19.9% vs 2021
2023: €345k▲ +98.2% vs 2022
2024: €365k▲ +5.9% vs 2023
2025: €377k▲ +3.3% vs 2024highest in 8 years
2018 → 2025
Net result
€38k▼ 16.1%
2024 · €46k
2018: €10klowest in 8 years
2019: €23k▲ +143% vs 2018
2020: €29k▲ +26.6% vs 2019
2021: €55k▲ +88.5% vs 2020
2022: €33k▼ -40.1% vs 2021
2023: €159k▲ +380% vs 2022highest in 8 years
2024: €46k▼ -71.3% vs 2023
2025: €38k▼ -16.1% vs 2024
2018 → 2025
Working capital
€356k▲ 2.7%
2024 · €347k
2018: €31klowest in 8 years
2019: €54k▲ +71.2% vs 2018
2020: €83k▲ +54.5% vs 2019
2021: €133k▲ +60.4% vs 2020
2022: €161k▲ +20.8% vs 2021
2023: €311k▲ +92.9% vs 2022
2024: €347k▲ +11.7% vs 2023
2025: €356k▲ +2.7% vs 2024highest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€133k-€160k▲ 20.2%€312k▲ 94.8%€348k▲ 11.6%€363k▲ 4.3%
2021: €133klowest in 5 years
2022: €160k▲ +20.2% vs 2021
2023: €312k▲ +94.8% vs 2022
2024: €348k▲ +11.6% vs 2023
2025: €363k▲ +4.3% vs 2024highest in 5 years
Operating result€76k-€46k▼ 39.2%€227k▲ 389%€56k▼ 75.3%€44k▼ 21.5%
2021: €76k
2022: €46k▼ -39.2% vs 2021
2023: €227k▲ +389% vs 2022highest in 5 years
2024: €56k▼ -75.3% vs 2023
2025: €44k▼ -21.5% vs 2024lowest in 5 years
Net result€55k-€33k▼ 40.1%€159k▲ 380%€46k▼ 71.3%€38k▼ 16.1%
2021: €55k
2022: €33k▼ -40.1% vs 2021lowest in 5 years
2023: €159k▲ +380% vs 2022highest in 5 years
2024: €46k▼ -71.3% vs 2023
2025: €38k▼ -16.1% 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 has fallen two years in a row; 2025 is 21% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €377k
Fixed assets
€7k ▲ 687%
Current assets
€371k ▲ 1.7%
Equity and liabilities €377k
Equity
€363k ▲ 4.3%
Debt
€14k ▼ 18.2%
Debt's share of the balance-sheet total falls from 4.8% to 3.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€46k
Cash flow
€40k
Current ratio
25.90▲
2024 · 20.84
Debt to equity
0.04▼
2024 · 0.05
ROE
10.5%▼
2024 · 13.1%
ROA
10.1%▼
2024 · 12.5%
Interest coverage
498.21
Debt ≤ 1 year
€14k▼
2024 · €17k
Income taxes
€15k▼
2024 · €18k
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 · 47 lines
Balance sheet
Code20242025
Assets
Total assets20/58€365k€377k▲
Fixed assets21/28€841€7k▲
Tangible fixed assets22/27€841€7k▲
Plant, machinery and equipment23€841€776▼
Furniture and vehicles24-€6k
Current assets29/58€364k€371k▲
Amounts receivable after more than one year29€19k-
Trade receivables290€16k-
Other amounts receivable291€3k-
Amounts receivable within one year40/41-€19k
Trade receivables40-€18k
Other amounts receivable41-€1k
Current investments50/53€300k€240k▼
Cash at bank and in hand54/58€44k€111k▲
Deferred charges and accrued income490/1€2k-
Equity and liabilities
Total equity and liabilities10/49€365k€377k▲
Equity10/15€348k€363k▲
Contributions10/11€1k€1k=
Reserves13€345k€360k▲
Distributable reserves133€345k€360k▲
Profit (loss) carried forward14€1k€1k=
Amounts payable17/49€17k€14k▼
Amounts payable within one year42/48€17k€14k▼
Trade debts44€2k€171▼
Suppliers440/4€2k€171▼
Taxes, remuneration and social security45€15k€14k▼
Taxes450/3€15k€14k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630-€2k
Other operating charges640/8-€2k
Gross operating margin9900€56k€48k▼
Operating profit (loss)9901€56k€44k▼
Financial income75/76B€7k€9k▲
Recurring financial income75€7k€9k▲
Non-recurring financial income76B€7k-
Financial charges65/66B€92€92▼
Recurring financial charges65€92€92▼
Profit (loss) for the period before taxes9903€63k€53k▼
Income taxes67/77€18k€15k▼
Profit (loss) for the period9904€46k€38k▼
Profit (loss) for the period to be appropriated9905€46k€38k▼
Appropriation of the result
Profit (loss) to be appropriated9906€47k€40k▼
Profit (loss) brought forward from the previous period14P€1k€1k=
Transfer from equity791/2€11k€25k▲
Transfer to equity691/2€46k€38k▼
To other reserves6921€46k€38k▼
Profit to be distributed694/7€11k€25k▲
Return on contributions (dividend)694€11k€25k▲
The notes to these accounts (7 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 | - | €132 | - | - | €2k | - |
| Other operating charges640/8 | - | €3k | - | - | €2k | - |
| Non-recurring operating charges66A | - | €1k | - | - | - | - |
| Gross operating margin9900 | €77k | €50k | €227k | €56k | €48k | ▼ 14.6% |
| Operating profit (loss)9901 | €76k | €46k | €227k | €56k | €44k | ▼ 21.5% |
| Financial income75/76B | - | - | €7 | €7k | €9k | ▲ 25.8% |
| Recurring financial income75 | - | - | €7 | €7k | €9k | ▲ 25.8% |
| Non-recurring financial income76B | - | - | €7 | €7k | - | - |
| Financial charges65/66B | - | €171 | €159 | €92 | €92 | ▼ 0.5% |
| Recurring financial charges65 | €126 | €171 | €159 | €92 | €92 | ▼ 0.5% |
| Profit (loss) for the period before taxes9903 | €76k | €46k | €227k | €63k | €53k | ▼ 16.1% |
| Income taxes67/77 | €21k | €13k | €68k | €18k | €15k | ▼ 15.9% |
| Profit (loss) for the period9904 | €55k | €33k | €159k | €46k | €38k | ▼ 16.1% |
| Profit (loss) for the period to be appropriated9905 | €55k | €33k | €159k | €46k | €38k | ▼ 16.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €145k | €174k | €345k | €365k | €377k | ▲ 3.3% |
| Fixed assets21/28 | - | €1k | €1k | €841 | €7k | ▲ 687% |
| Tangible fixed assets22/27 | - | €1k | €1k | €841 | €7k | ▲ 687% |
| Plant, machinery and equipment23 | - | €1k | €1k | €841 | €776 | ▼ 7.7% |
| Furniture and vehicles24 | - | - | - | - | €6k | - |
| Current assets29/58 | €145k | €173k | €344k | €364k | €371k | ▲ 1.7% |
| Amounts receivable after more than one year29 | - | - | €25k | €19k | - | - |
| Trade receivables290 | - | - | €22k | €16k | - | - |
| Other amounts receivable291 | - | - | €3k | €3k | - | - |
| Amounts receivable within one year40/41 | €13k | €19k | - | - | €19k | - |
| Trade receivables40 | - | €18k | - | - | €18k | - |
| Other amounts receivable41 | - | €153 | - | - | €1k | - |
| Current investments50/53 | - | - | €225k | €300k | €240k | ▼ 20.0% |
| Cash at bank and in hand54/58 | €132k | €154k | €94k | €44k | €111k | ▲ 155% |
| Deferred charges and accrued income490/1 | - | - | - | €2k | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €145k | €174k | €345k | €365k | €377k | ▲ 3.3% |
| Equity10/15 | €133k | €160k | €312k | €348k | €363k | ▲ 4.3% |
| Contributions10/11 | - | €1k | €1k | €1k | €1k | = |
| Reserves13 | €131k | €158k | €309k | €345k | €360k | ▲ 4.4% |
| Distributable reserves133 | - | €158k | €309k | €345k | €360k | ▲ 4.4% |
| Profit (loss) carried forward14 | €1k | €1k | €1k | €1k | €1k | = |
| Amounts payable17/49 | €12k | €14k | €33k | €17k | €14k | ▼ 18.2% |
| Amounts payable after more than one year17 | - | €3k | - | - | - | - |
| Trade debts175 | - | €3k | - | - | - | - |
| Amounts payable within one year42/48 | €12k | €12k | €33k | €17k | €14k | ▼ 18.2% |
| Trade debts44 | €2k | - | €831 | €2k | €171 | ▼ 92.3% |
| Suppliers440/4 | - | - | €831 | €2k | €171 | ▼ 92.3% |
| Taxes, remuneration and social security45 | - | €12k | €32k | €15k | €14k | ▼ 7.4% |
| Taxes450/3 | - | €12k | €32k | €15k | €14k | ▼ 7.4% |
| Accrued charges and deferred income492/3 | - | - | €8 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €55k | €33k | €159k | €46k | €38k | ▼ 16.1% |
| + Depreciation and write-downs630 | - | €132 | - | - | €2k | - |
| Operating cash flow (approximation) | €55k | €33k | €159k | €46k | €40k | ▼ 12.6% |
| Investment in fixed assets (approximation) | - | - | €324 | €325 | €-7k | ▼ 2,375% |
| Change in cash | - | €22k | €-60k | €-50k | €68k | ▲ 235% |
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
08-01
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2024
26-12
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
30-09
Financial
Liquidity doublescurrent ratio 20.84
Current ratio from 10.34 to 20.84; short-term debt falls from €33k to €17k.
2023
21-12
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
30-09
Financial
Highest result since 2018net €159k ▲380%
Operating result €227k, net result €159k, both a record.
30-09
Financial
Equity above €200kEq €312k ▲94.8%
6 profitable years in a row build equity to €312k.
2022
16-12
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
30-09
Financial
Equity above €150kEq €160k ▲20.2%
5 profitable years in a row build equity to €160k.
2021
27-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
30-09
Financial
Equity above €100kEq €133k ▲60.2%
4 profitable years in a row build equity to €133k.
06-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
06-01
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Show earlier events
2019
16-01
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
11-01
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
10-01
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
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, Liège · 1 establishment unit since 2012
Ground area
378 m²
Building footprint
58 m²
Volume, LiDAR
588 m³
Parcel 62059C0296/00Z027, Wallonia · tallest building 11.4 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Rue du Homvent 42, 4020 Liège
since 20122.212.757.367
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62059C0296/00Z027 | Wallonia | 378 m² | 1 · 58 m² | 11.4 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.
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Of 82,553 companies in sector 70200 we hold annual accounts for 52,585. 36,986 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
Founded27-09-2012
Fiscal year end30-09
Activities, NACEBEL 2025
70200Business and other management consultancy
Scores and ratios are computed by Checked and are not a credit decision.