PH & ASSOCIATES
ActiveSummary
PH & ASSOCIATES has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €467,773 and a net result of -€29,580. Equity is growing by ~5.3% per year across the filed fiscal years. Its solvency ranks better than 52% of 265 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.1% (low).
Overview
What they do
Wired, wireless and satellite telecommunications
NACE 61100Telecommunications resale and intermediation services NACE 61200Holdings NACE 64200
1 site
How big
€1.0mtotal assets 2025
- Equity
- €467,773
- Loss
- -€29,580
Turnover not published (abridged schema)
Who decides
Accounts 41 d early0 of 3 deeds read
Why 49- Higher-failure-rate sector- Persistent losses+ Long track recordLatest accounts filed on timeShow the evidence
Checked score
Score 2025
Axes · tick = 2024
Profitability21▲+5
Solvency71=
Growth52=
Track record100
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €22,000 at 30 days acceptable
Liquidity tight (current ratio 1.07 against 1.16 in 2024; short-term debt: 49.4% and cash: 2% of total assets), and 53.8% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 61
Relative position
BE, all sectors
reference
Telecommunications (NACE 61)
about 159% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
19202122232425
2019 to 2025 · latest year -€29,580
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 21-12-2025, 41 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
41 d early
2024
38 d early
2023
39 d early
2022
1 d early
2021
7 d early
2020
44 d early
2019
38 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 30 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 47% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today. Usually files around 24 December (4 of the last 5 filed years within 31 days of that day).
Companies Code · seven monthsPosition in the running window
30-06-2026 close01-10-2026 today31-01-2027 deadline
- Annual accounts filedfiscal year 2025 · micro…
- Annual accounts filedfiscal year 2024 · micro…
- Weakest financial yearnet -€31,383
Financials
Fiscal year 2025Total assets €1.0mLoss -€29,580Solvency 46.2%Liquidity 1.07
Total assets
€1.0m▼ 6.2%
2019 - 2025
Net result
-€29,580▲ 5.7%
2019 - 2025
Equity
€467,773▼ 5.9%
2019 - 2025
Solvency
46.2%▲ 0.1pp
2019 - 2025
Financials · fiscal year 2025, micro schema
Trend over the years
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 61, Telecommunications, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€0.08m▼ 3.4%€0.07m▼ 8.4%€0.1m▲ 41.2%-€0.03m€0.004m
Net result€0.04mabove the sector's middle half▲ 4.7%€0.03mabove the sector's middle half▼ 11.2%€0.05mabove the sector's middle half▲ 61.7%-€0.03mbelow the sector's middle half-€0.03mbelow the sector's middle half▲ 5.7%
Equity€0.4mabove the sector's middle half▲ 8.8%€0.5mabove the sector's middle half▲ 7.2%€0.5mabove the sector's middle half▲ 11.0%€0.5mabove the sector's middle half▼ 5.9%€0.5mabove the sector's middle half▼ 5.9%
Total assets€1.1mabove the sector's middle half▲ 16.6%€1.1mabove the sector's middle half▲ 1.2%€1.1mabove the sector's middle half▲ 0.5%€1.1mabove the sector's middle half▼ 2.1%€1.0mabove the sector's middle half▼ 6.2%
Debt€0.6m▲ 22.6%€0.6m▼ 2.9%€0.6m▼ 7.6%€0.6m▲ 1.4%€0.5m▼ 6.3%
Working capital€0.07mwithin the sector's middle half▲ 53.8%€0.07mabove the sector's middle half▲ 2.5%€0.1mabove the sector's middle half▲ 66.6%€0.08mwithin the sector's middle half▼ 36.4%€0.04mwithin the sector's middle half▼ 53.7%
Solvency41.1%within the sector's middle half▼ 2.9pp43.5%within the sector's middle half▲ 2.4pp48.0%within the sector's middle half▲ 4.6pp46.1%within the sector's middle half▼ 1.9pp46.2%within the sector's middle half▲ 0.1pp
Current ratio1.16within the sector's middle half=1.16within the sector's middle half=1.27within the sector's middle half▲ 0.111.16within the sector's middle half▼ 0.111.07within the sector's middle half▼ 0.08
Return on assets (ROA)3.5%within the sector's middle half▼ 0.4pp3.1%within the sector's middle half▼ 0.4pp4.9%within the sector's middle half▲ 1.9pp-2.9%within the sector's middle half▼ 7.8pp-2.9%below the sector's middle half=
above
within
below
the middle half (P25 to P75) of NACE 61, Telecommunications, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result and balance sheet
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €3,783 after a loss of €25,551 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.0m
Fixed assets
€476,214 ▼ 5.4%
Current assets
€535,199 ▼ 6.8%
Equity and liabilities €1.0m
Equity
€467,773 ▼ 5.9%
Debt
€543,639 ▼ 6.3%
Debt's share of the balance-sheet total falls from 53.9% to 53.8%. Equity and debt are lower.
Key figures and ratios
Key figures and ratios
EBITDA
€31,106▲
2024 · €3,363
Cash flow
-€2,257▲
2024 · -€2,468
Debt to equity
1.16▼
2024 · 1.17
ROE
-6.3%▼
2024 · -6.3%
Interest coverage
0.75▲
2024 · 0.09
Debt ≤ 1 year
€499,380▲
2024 · €496,910
Debt > 1 year
€40,058▼
2024 · €77,145
Income taxes
€427▼
2024 · €448
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 8,612 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 94% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a small loss
0.4%
went bankrupt
5.1%
stopped otherwise
94%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 1.1% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,341 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 8,612 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Filed annual accounts
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €27,770 | €33,211 | €27,989 | €28,914 | €27,324 | ▼ 5.5% |
| Other operating charges640/8 | - | €3,207 | €4,096 | €3,166 | €3,190 | ▲ 0.8% |
| Gross operating margin9900 | €109,345 | €108,228 | €133,462 | €6,528 | €34,296 | ▲ 425% |
| Operating profit (loss)9901 | €78,388 | €71,810 | €101,377 | -€25,551 | €3,783 | ▲ 115% |
| Financial income75/76B | - | €3,482 | €14,159 | €139,143 | €8,280 | ▼ 94.0% |
| Recurring financial income75 | €706 | €3,482 | €14,159 | €3,033 | €8,280 | ▲ 173% |
| Non-recurring financial income76B | - | - | - | €136,111 | - | - |
| Financial charges65/66B | - | €23,566 | €39,930 | €144,526 | €41,216 | ▼ 71.5% |
| Recurring financial charges65 | €25,568 | €23,566 | €39,930 | €38,547 | €41,216 | ▲ 6.9% |
| Non-recurring financial charges66B | - | - | - | €105,979 | - | - |
| Profit (loss) for the period before taxes9903 | €53,526 | €51,726 | €75,606 | -€30,934 | -€29,154 | ▲ 5.8% |
| Income taxes67/77 | €15,855 | €18,291 | €21,552 | €448 | €427 | ▼ 4.8% |
| Profit (loss) for the period9904 | €37,671 | €33,435 | €54,054 | -€31,383 | -€29,580 | ▲ 5.7% |
| Profit (loss) for the period to be appropriated9905 | €37,671 | €33,435 | €54,054 | -€31,383 | -€29,580 | ▲ 5.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.1m | €1.1m | €1.1m | €1.1m | €1.0m | ▼ 6.2% |
| Fixed assets21/28 | €0.6m | €0.6m | €0.5m | €0.5m | €0.5m | ▼ 5.4% |
| Tangible fixed assets22/27 | €0.6m | €0.6m | €0.5m | €0.5m | €0.5m | ▼ 5.4% |
| Land and buildings22 | - | €0.5m | €0.5m | €0.5m | €0.5m | ▼ 4.4% |
| Plant, machinery and equipment23 | - | €0.007m | €0.005m | €0.003m | €0.001m | ▼ 55.9% |
| Furniture and vehicles24 | - | €0.02m | €0.004m | €0.002m | €0.001m | ▼ 68.5% |
| Other tangible fixed assets26 | - | €0.009m | €0.02m | €0.01m | €0.01m | ▼ 19.5% |
| Financial fixed assets28 | €122 | €122 | €122 | €122 | €122 | = |
| Current assets29/58 | €0.5m | €0.5m | €0.6m | €0.6m | €0.5m | ▼ 6.8% |
| Amounts receivable after more than one year29 | - | €0.008m | €0.01m | €0.009m | €0.007m | ▼ 26.5% |
| Other amounts receivable291 | - | €0.008m | €0.01m | €0.009m | €0.007m | ▼ 26.5% |
| Amounts receivable within one year40/41 | €0.02m | €0.01m | €0.02m | €0.02m | €0.03m | ▲ 68.3% |
| Trade receivables40 | - | €0.001m | €0.002m | €0.007m | €0.03m | ▲ 275% |
| Other amounts receivable41 | - | €0.009m | €0.02m | €0.009m | €0.001m | ▼ 91.3% |
| Current investments50/53 | €0.2m | €0.2m | €0.5m | €0.5m | €0.5m | ▼ 8.4% |
| Cash at bank and in hand54/58 | €0.3m | €0.3m | €0.04m | €0.02m | €0.02m | ▼ 19.1% |
| Deferred charges and accrued income490/1 | - | €0.01m | €0.002m | €0.003m | €0.003m | ▲ 20.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.1m | €1.1m | €1.1m | €1.1m | €1.0m | ▼ 6.2% |
| Equity10/15 | €0.4m | €0.5m | €0.5m | €0.5m | €0.5m | ▼ 5.9% |
| Contributions10/11 | - | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Reserves13 | €0.1m | €0.1m | €0.2m | €0.2m | €0.2m | = |
| Non-distributable reserves130/1 | - | €0.003m | - | - | - | - |
| Reserves not available under the articles1311 | - | €0.002m | - | - | - | - |
| Other1319 | - | €0.002m | - | - | - | - |
| Tax-exempt reserves132 | - | - | €0.002m | €0.002m | €0.002m | = |
| Distributable reserves133 | - | €0.1m | €0.2m | €0.2m | €0.2m | = |
| Profit (loss) carried forward14 | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | ▼ 10.0% |
| Amounts payable17/49 | €0.6m | €0.6m | €0.6m | €0.6m | €0.5m | ▼ 6.3% |
| Amounts payable after more than one year17 | €0.2m | €0.1m | €0.1m | €0.08m | €0.04m | ▼ 48.1% |
| Financial debts170/4 | - | €0.1m | €0.1m | €0.08m | €0.04m | ▼ 48.1% |
| Amounts payable within one year42/48 | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | ▲ 0.5% |
| Current portion of amounts payable after more than one year42 | - | €0.03m | €0.03m | €0.04m | €0.04m | ▲ 3.8% |
| Trade debts44 | €0.01m | €0.008m | €0.01m | €0.03m | €0.004m | ▼ 87.8% |
| Suppliers440/4 | - | €0.008m | €0.01m | €0.03m | €0.004m | ▼ 87.8% |
| Taxes, remuneration and social security45 | - | €0.02m | €0.008m | €0.009m | €0.01m | ▲ 40.2% |
| Taxes450/3 | - | €0.02m | €0.008m | €0.009m | €0.01m | ▲ 40.2% |
| Other amounts payable47/48 | - | €0.4m | €0.4m | €0.4m | €0.4m | ▲ 5.5% |
| Accrued charges and deferred income492/3 | - | €0.004m | €0.005m | €0.006m | €0.004m | ▼ 34.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €37,671 | €33,435 | €54,054 | -€31,383 | -€29,580 | ▲ 5.7% |
| + Depreciation and write-downs630 | €27,770 | €33,211 | €27,989 | €28,914 | €27,324 | ▼ 5.5% |
| Operating cash flow (approximation) | €65,441 | €66,646 | €82,044 | -€2,468 | -€2,257 | ▲ 8.6% |
| Investment in fixed assets (approximation) | - | -€30,861 | €1,478 | -€7,272 | €0 | ▲ 100% |
| Change in cash | - | €17,798 | -€267,105 | -€10,538 | -€4,694 | ▲ 55.5% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
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Of 1,372 companies in this sector we hold annual accounts for 590. 343 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Timeline
13 eventsLatest 21-12-2025Next filing 31-01-2027
History
Acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2025
21-12
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2024
24-12
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
30-06
Financial
Weakest financial yearnet -€31,383
Net result drops to -€31,383, the lowest in the series; recovery starts the following year.
2023
23-12
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
30-06
Financial
Highest result since 2019net €54,054 ▲61.7%
Operating result €101,377, net result €54,054, both a record.
30-06
Financial
Equity above €500,000Eq €528,736 ▲11%
5 profitable years in a row build equity to €528,736.
30-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
24-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2020
18-12
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2019
24-12
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
31-01
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
28-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
27-12
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated 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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Support & recognitions
1 register with a recognitionLEI issued
LEI
active
2549008T17D0QUUKAS18
Recognitions · licences · registrations
Legal Entity Identifier
2549008T17D0QUUKAS18
Company details
Private limited company · founded 22-03-2002Year ends 30-06Peppol reachable1 site
Register details
Identification
Legal formPrivate limited company
Founded22-03-2002
Fiscal year end30-06
Activities, NACEBEL 2025
61100Wired, wireless and satellite telecommunications
E-invoicing
Reachable via Peppol
Peppol ID
0208:0477158935
Also
9925:BE0477158935
Registered
25-08-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Sites & property
Location & real-estate footprint
Registered office, Antwerpen · 1 establishment unit since 2002
Ground area
591 m²
Building footprint
157 m²
Volume, LiDAR
926 m³
Parcel 11463D0384/00C000, Flanders · tallest building 9.7 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Kleine Doornstraat 33, 2610 Antwerpen
since 2002unit no. 2.100.575.184
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11463D0384/00C000 | Flanders | 591 m² | 1 · 157 m² | 9.7 m · 2 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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