Summary
Conclusion
the dossier summarised in one paragraphThe computed 12-month bankruptcy probability of PHADO is 0.2% (very low). The 2024 annual accounts show equity of €350k and a net result of €41k. Equity is growing by ~12.1% per year across the filed fiscal years. Its solvency ranks better than 68% of 3178 sector peers (fiscal year 2024). The company has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals.
Based on the State Gazette, CBE and 7 annual accounts.
Signals
2 signals · with evidenceConsistently profitable
Positive net result in the two most recent financial years (2023 and 2024).
View the result trend Growing equity
Equity grew over 2022-2024. Profits are largely retained rather than distributed.
View the equity trend Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.
Filing behaviour
From the deposit records, complete market-wideAnnual accounts not filed
The financial year that closed on 30-09-2025 was due at the National Bank by 30-04-2026. Nothing is on record today, 107 days later. Measured on financial year 2023: 41.75% of the companies that did not file are in an abnormal legal state today, against 1.66% of those that did.
Filed after the deadline
The financial year that closed on 30-09-2024 was due by 30-04-2025 and was filed on 27-06-2025, 58 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
How we compute the deadline
The year end is derived from 10 filed financial years, each closing on 30-09. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 30-09-2024, that is 30-04-2025.
Deadline per financial year
| Year closed | Due by | Filed | Variance | Reference |
|---|---|---|---|---|
| 30-09-2025 | 30-04-2026 | nothing on record | not filed | - |
| 30-09-2024 | 30-04-2025 | 27-06-2025 | 58 d late | 2025-00192170 |
| 30-09-2023 | 30-04-2024 | 27-04-2024 | 3 d early | 2024-00077207 |
| 30-09-2022 | 30-04-2023 | 30-05-2023 | 30 d late | 2023-00102793 |
| 30-09-2021 | 30-04-2022 | 17-05-2022 | 17 d late | 2022-20030185 |
| 30-09-2020 | 30-04-2021 | 19-05-2021 | 19 d late | 2021-14500232 |
| 30-09-2019 | 30-04-2020 | 29-05-2020 | 29 d late | 2020-13700515 |
| 30-09-2018 | 30-04-2019 | 20-05-2019 | 20 d late | 2019-13700287 |
| 30-09-2017 | 30-04-2018 | 29-06-2018 | 60 d late | 2018-29200030 |
| 30-09-2016 | 30-04-2017 | 31-05-2017 | 31 d late | 2017-14600219 |
| 30-09-2015 | 30-04-2016 | 14-05-2016 | 14 d late | 2016-12400562 |
Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.
Trust signals
2 signalsLong-established
Founded in 1989, 36 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Bankruptcy probability (12 mo)
Checked model v1 · free for everyone0.2%
Very low
0%0,5%1,5%4%10%≥25%
Long track record
−Lower-failure-rate sector
−
Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?
Financials
TurnoverNot published (abbreviated filing)
EBIT marginNot published (abbreviated filing)
Net result€41k+131.7%
Working capital€-74k-5.6%
Annual accounts & ratios
Source: NBB · 2024Annual accounts filed on 27-06-2025 with the NBB · fiscal year 2024 · micro
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Equity: growth of ~12.1%/year over 7 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
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).
Sector comparison
Fiscal year 2024 · NACE 82 · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 69.4% | 53.8% | |
| Net result | €41k | €18k | |
| Equity | €350k | €40k | |
| Gross operating margin | €89k | €36k | |
| Total assets | €504k | €94k |
Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.
Sector position over time
Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).
P68
Improving position over 2020-2024
· n=451-3178
P72
Stable position over 2020-2024
· n=450-3177
P95
Stable position over 2020-2024
· n=452-3180
P79
Stable position over 2020-2024
· n=445-3177
Describes the position versus peers, not a forecast.
€87k
+23.4%
18-24
€41k
+131.7%
18-24
€70k
+53.3%
18-24
€504k
-6.2%
18-24
€350k
+13.3%
18-24
€-74k
-5.6%
18-24
€8k
-54.3%
18-24
€154k
-32.5%
18-24
€74k
-4.8%
18-24
€80k
-46.8%
18-24
0.00
-98.0%
18-24
0.00
-98.0%
18-24
69.4%
+20.8%
18-24
0.44
-40.4%
18-24
11.7%
+104.5%
18-24
8.1%
+147.0%
18-24
10.23
-6.7%
18-24
Figures by fiscal year
| Fiscal year | 2024 |
|---|---|
| Deposit | micro |
| Revenue | - |
| EBITDA | €87k |
| Net profit | €41k |
| Cash flow | €70k |
| Staff costs | - |
| Income taxes | €8k |
| Dividends | - |
| Total assets | €504k |
| Equity | €350k |
| Debt | €154k |
| of which ≤ 1y | €74k |
| of which > 1y | €80k |
| Working capital | €-74k |
| Employees (FTE) | - |
Ratios (computed)
| 2024 | |
|---|---|
| Current ratio | 0.00 |
| Quick ratio | 0.00 |
| Working capital ratio | -14.7% |
| Solvency | 69.4% |
| Debt / equity | 0.44 |
| Long-term debt ratio | 0.23 |
| Interest coverage | 10.23 |
| Gross margin | - |
| Net margin | - |
| ROA | 8.1% |
| ROE | 11.7% |
| EBITDA margin | - |
| Days sales outstanding | - |
| Days payable outstanding | - |
| Inventory turnover | - |
| Days inventory (DSI) | - |
Balance-sheet composition 2024
Full annual accounts
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2024 |
|---|---|---|
| Balance sheet, Assets | ||
| TOTAL ASSETS | 20/58 | €504k |
| Fixed assets | 21/28 | €504k |
| Tangible fixed assets | 22/27 | €352k |
| Financial fixed assets | 28 | €152k |
| Current assets | 29/58 | €150 |
| Cash & bank | 54/58 | €150 |
| Balance sheet, Equity & liabilities | ||
| TOTAL EQUITY & LIABILITIES | 10/49 | €504k |
| Equity | 10/15 | €350k |
| Contributions / capital | 10/11 | €22k |
| Reserves | 13 | €5k |
| Accumulated profits (losses) | 14 | €323k |
| Amounts payable | 17/49 | €154k |
| Amounts payable after one year | 17 | €80k |
| Amounts payable within one year | 42/48 | €74k |
| Trade debts payable within one year | 44 | €11k |
| Income statement | ||
| Gross operating margin | 9900 | €89k |
| Operating result | 9901 | €58k |
| Financial charges | 65 | €9k |
| Result before taxes | 9903 | €49k |
| Income taxes | 67/77 | €8k |
| Net result for the period | 9904 | €41k |
| Result to be appropriated | 9905 | €41k |
This table shows the latest fiscal year. 4 prior years, with figures and ratios, belong to a paid plan.
See plans →
Ratios computed by Checked.
Health barometer
FY 2024 · computed71
/ 100
Healthy
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.
See plans →Computed by Checked from the NBB filing for FY 2024. Indicative, not credit advice.
Directors
Directors & mandates
1 directorCurrent directors & mandates
-
VAN DOOREN Philippe Petrus JanDirectorState Gazette act 23442818 (01-12-2023)Current01-12-2023 → present
Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.This list is read straight from this company's published acts, not from the officer register.
Insolvency mandates
No insolvency mandates (liquidators, administrators) on record for this company.
Legal Structure
| NACE primary | Overige zakelijke dienstverlening, neg(82990) |
| Legal form | Private limited company(610) |
| Incorporation | 29-12-1989 |
| Status | Active |
| Postal code | 1880 |
Structure & network
Locations & real estate
Registered office
from the Crossroads BankCannot 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.
Oostdijk 111880 Kapelle-op-den-BosEstablishment units
1 locationHovestraat 40, 2650 Edegem
since 19902.047.552.808
Physical sites registered in the Crossroads Bank for Enterprises (CBE).
Parcels2
Ground area3,071 m²
Buildings2
Building footprint983 m²
Volume (LiDAR)8,611 m³
Tallest building19.6 m · ±3 fl.
Real-estate footprint
Source: CBE × cadastre · address linkingParcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23039B0125/00B004 | Flanders | 2,638 m² | 1 · 830 m² | 19.6 m · 3 fl. |
| 11472B0031/00W006 | Flanders | 433 m² | 1 · 153 m² | 15.8 m · 3 fl. |
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Publications
Lifecycle & Insolvency Signals
No insolvency signals in the Belgian State Gazette
Belgisch Staatsblad · acts
1 acts All acts · 1
updated 2 years ago
2023
01-12-2023 VAN DOOREN Philippe Petrus Jan appointed as director
- VAN DOOREN Philippe Petrus Jan, Bestuurder
Notary:
Fredericus Van Cauwenbergh · Edegem
Analysis
Snowflake analysis
financial profile on 5 axes70
/ 100
Strong profile, led by stability.
All 5 axes are computed from data Checked has read.
Health
71
Profitability
59
Solvency
67
Growth
52
Stability
100
Credit advice
verdict per customer and amountSimilar
Similar companies
Comparable size, same sectorBE 0765.962.379 · Chaudfontaine
BE 0763.878.760 · Genk
BE 0791.487.534 · Herk-de-Stad
BE 0805.999.229 · Lommel
BE 0763.410.289 · Oudsbergen
We hold annual accounts for 2,996 of the 24,486 companies in this sector. 1,832 of them are within a factor 10 of this company's equity.
Company registry
Company registry (CBE)
Crossroads BankActivities
Overige zakelijke dienstverlening, n.e.g.82990Overige zakelijke dienstverlening, neg82990Beleggingstrusts en -fondsen en vergelijkbare financiële instellingen64300Activiteiten van geldmarkt- en niet-geldmarktbeleggingsfondsen64310Vermogensbeheer66300Vermogensbeheer66300Activiteiten van adviesbureaus op het gebied van bedrijfsvoering en overig managementadvies70200Overige adviesbureaus op het gebied van bedrijfsbeheer; adviesbureaus op het gebied van bedrijfsvoering70220
Primary activity highlighted.
Names & trade names
| Legal nameNL | PHADO |
Registered office
Oostdijk 11 bus 4
1880 Kapelle-op-den-Bos, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.