PH COLLECTION
PH COLLECTION has been active since 1986 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €386k and a net result of €-789k. Equity is shrinking by ~5.5% per year across the filed fiscal years. Its solvency ranks better than 41% of 9984 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
| Equity | €386k |
| Net result | €-789k |
| Staff (FTE) | 9.7 |
| Better than sector | 41% |
Fragile profile, watch profitability in particular.
All 5 axes are computed from data Checked has read.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 29.4% | 37.6% | |
| Net result | €-789k | €30k | |
| Equity | €386k | €260k | |
| Gross operating margin | €-190k | €227k | |
| Staff costs | €543k | €158k |
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Deposit | abbreviated schema | full schema | full schema | full schema | full schema |
| Revenue | - | - | - | - | - |
| EBITDA | €-738k | €-67k | €225k | €-69k | €83k |
| Net profit | €-789k | €-105k | €145k | €-115k | €11k |
| Cash flow | €-726k | €-41k | €207k | €-67k | €79k |
| Staff costs | €543k | €523k | €513k | €422k | €374k |
| Income taxes | €472 | €395 | €30k | €6k | €11k |
| Dividends | - | - | €36k | - | €36k |
| Total assets | €1.31M | €1.97M | €2.33M | €2.30M | €2.42M |
| Equity | €386k | €1.18M | €1.28M | €1.17M | €1.29M |
| Debt | €927k | €791k | €1.05M | €1.13M | €1.13M |
| of which ≤ 1y | €908k | €765k | €1.01M | €1.11M | €1.10M |
| of which > 1y | €16k | €26k | €36k | €19k | €31k |
| Working capital | €283k | €1.02M | €1.07M | €962k | €1.10M |
| Employees (FTE) | 9.7 | 9.8 | 10.0 | 8.7 | 9.0 |
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 1.31 | 2.33 | 2.06 | 1.87 | 1.99 |
| Quick ratio | 0.89 | 1.82 | 1.66 | 1.37 | 1.52 |
| Working capital ratio | 21.6% | 51.7% | 46.0% | 41.8% | 45.3% |
| Solvency | 29.4% | 59.8% | 55.0% | 50.9% | 53.1% |
| Debt / equity | 2.40 | 0.67 | 0.82 | 0.96 | 0.88 |
| Long-term debt ratio | 0.04 | 0.02 | 0.03 | 0.02 | 0.02 |
| Interest coverage | -72.29 | -6.74 | 460.96 | -3.82 | 7.14 |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | -60.1% | -5.3% | 6.2% | -5.0% | 0.5% |
| ROE | -204.5% | -8.9% | 11.3% | -9.8% | 0.9% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Full annual accounts (27 line items)
| Line item | Code | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €1.31M | €1.97M | €2.33M | €2.30M | €2.42M |
| Fixed assets | 21/28 | €122k | €185k | €245k | €230k | €221k |
| Intangible fixed assets | 21 | €4k | €6k | €8k | €2k | €4k |
| Tangible fixed assets | 22/27 | €115k | €176k | €236k | €228k | €217k |
| Financial fixed assets | 28 | €3k | €3k | - | - | - |
| Current assets | 29/58 | €1.19M | €1.78M | €2.08M | €2.07M | €2.20M |
| Stocks & contracts in progress | 3 | €381k | €392k | €406k | €547k | €523k |
| Amounts receivable within one year | 40/41 | €278k | €317k | €512k | €521k | €360k |
| Investments | 50/53 | €125k | €252k | €249k | €237k | €243k |
| Cash & bank | 54/58 | €47k | €443k | €570k | €395k | €746k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €1.31M | €1.97M | €2.33M | €2.30M | €2.42M |
| Equity | 10/15 | €386k | €1.18M | €1.28M | €1.17M | €1.29M |
| Contributions / capital | 10/11 | €19k | €19k | €19k | €19k | €19k |
| Reserves | 13 | €200k | €200k | €200k | €200k | €200k |
| Accumulated profits (losses) | 14 | €167k | €956k | €1.06M | €952k | €1.07M |
| Amounts payable | 17/49 | €927k | €791k | €1.05M | €1.13M | €1.13M |
| Amounts payable after one year | 17 | €16k | €26k | €36k | €19k | €31k |
| Amounts payable within one year | 42/48 | €908k | €765k | €1.01M | €1.11M | €1.10M |
| Trade debts payable within one year | 44 | €235k | €333k | €537k | €513k | €371k |
| Income statement | ||||||
| Gross operating margin | 9900 | €-190k | €463k | €744k | €357k | €465k |
| Operating result | 9901 | €-802k | €-131k | €162k | €-117k | €16k |
| Financial income | 75 | €23k | €36k | €13k | €25k | €18k |
| Financial charges | 65 | €10k | €10k | €488 | €18k | €12k |
| Result before taxes | 9903 | €-789k | €-104k | €174k | €-109k | €22k |
| Income taxes | 67/77 | €472 | €395 | €30k | €6k | €11k |
| Net result for the period | 9904 | €-789k | €-105k | €145k | €-115k | €11k |
| Result to be appropriated | 9905 | €-789k | €-105k | €145k | €-115k | €11k |
Former directors (1)
-
Bernadette VannesteDirectorState Gazette act 23063205 (11-05-2023)Former- → 31-12-2022
| NACE primary | Retail sale of antiques(47791) |
| Legal form | Private limited company (pre-2019)(015) |
| Incorporation | 12-03-1986 |
| Status | Active |
| Postal code | 1300 |
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25112B0047/00Y000 | Wallonia | 5,303 m² | 1 · 2,062 m² | 9.1 m · 2 fl. |
| 25112B0044/00W000 | Wallonia | 3,304 m² | 1 · 1,735 m² | 6.7 m · 2 fl. |
01-09
State Gazette act
Board meeting · Registered-office moveBoard meeting · Registered-office move2 facts ▸
- Board meeting, 2026-06-18
- Registered-office move, Avenue Vésale n°22 à 1300 Wavre
Of the 7 Belgian State Gazette acts we know for this company, 1 has been read. The other 6 have not been read yet: what they contain is neither established nor disproved here.
01-09-2026 Act object · Board meeting · Seat change
- Act object: Déplacement du siège social · PH COLLECTION
- Publication: 2026-09-01 · PH COLLECTION
- Filing: 2026-08-25 · PH COLLECTION
- Board meeting: 2026-06-18 · PH COLLECTION
- Seat change: to: Avenue Vésale n°22 à 1300 Wavre, from: Avenue Franklin n°9 1300 Wavre, effective_date: 2026-07-01 · PH COLLECTION
Technical details
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}11-05-2023 2 directors appointed, 1 resigning
- Gwendoline Mourlon Beernaert, Commissaris
- Marion de Crombrugghe, Dagelijks bestuur
- Bernadette Vanneste, Bestuurder
Technical details
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}| Legal nameNL | PH COLLECTION |