PHARE
ActiveSummary
PHARE has been active since 1990 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€19,881) and a net result of -€2,433. Equity is shrinking by about 19% per year across the filed financial years. Its solvency ranks better than 5% of 13,668 sector peers (NACE 46, financial year 2025). The computed 12-month bankruptcy probability is 1.2% (low).
Overview
- Equity
- -€19,881
- Loss
- -€2,433
Why 53raises riskCapped at 59: negative equityLoss of €2,433, the second in a row (financial year 2025)Last filed accounts filed 31 days late; 3 of the last 3 latelowers riskSize: turnover €8,787, total assets €4,012Founded in 1990Show the evidence
Checked score
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 46, micro): better than 6% on solvency, 15% on liquidity, 6% on profitability and 54% on growth.
The bankruptcy probability was computed on 29-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 7 accounts on average 33 days after the deadline; the sector median (NACE 46) for financial year 2024 is 3 days before the deadline, and 39% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Annual accounts filedfinancial year 2024 · abbreviated…
- Annual accounts filedfinancial year 2023 · micro…
Financials · financial year 2025, micro format
2025 annual accounts filed late (31 days) Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00499582.
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result stays negative: a loss of €3,806 in 2025 against €4,549 in 2024; the loss shrinks.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 46, Wholesale trade: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital.
Peer companies
Historical observationOf the 6,619 companies that looked in July 2024 the way this one looks now, 4.5% went bankrupt within 24 months and 84.5% are still going.
- Micro
- 20 years or older
- negative equity
- a loss of 10% of the balance sheet or more
A further 1.0% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.2% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,445 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% | 0.9% |
| 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 74.5% 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 6,619 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.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | - | - | - | €6,651 | €8,787 | ▲ 32.1% |
| Non-recurring operating income76A | - | - | - | €1,556 | €1,556 | €1,556 | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | - | - | - | €9,595 | €11,242 | ▲ 17.2% |
| Remuneration, social security and pensions62 | - | - | - | - | - | - | - | €0 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €373 | €73 | €91 | €226 | €226 | €135 | €382 | €382 | = |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | - | - | €0 | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | - | - | - | - | €0 | - |
| Other operating charges640/8 | - | - | - | €857 | €856 | €1,036 | €1,223 | €968 | ▼ 20.8% |
| Gross operating margin9900 | -€3,689 | €2,304 | -€2,430 | -€1,462 | -€1,457 | -€182 | -€2,944 | -€2,455 | ▲ 16.6% |
| Operating profit (loss)9901 | -€4,848 | €1,437 | -€3,319 | -€2,545 | -€2,539 | -€1,353 | -€4,549 | -€3,806 | ▲ 16.3% |
| Financial income75/76B | - | - | - | €0 | - | - | €1,556 | €1,556 | = |
| Recurring financial income75 | - | - | €3,000 | €0 | - | - | €1,556 | €1,556 | = |
| Non-recurring financial income76B | - | - | - | - | - | - | - | €1,556 | - |
| Financial charges65/66B | - | - | - | €31 | €34 | €35 | €40 | €40 | ▲ 1.6% |
| Recurring financial charges65 | €31 | €94 | €124 | €31 | €34 | €35 | €40 | €40 | ▲ 1.6% |
| Profit (loss) for the period before taxes9903 | -€4,878 | €1,343 | -€444 | -€2,576 | -€2,573 | -€1,388 | -€3,033 | -€2,290 | ▲ 24.5% |
| Income taxes67/77 | - | €128 | €117 | €117 | €143 | €146 | €61 | €143 | ▲ 135% |
| Profit (loss) for the period9904 | -€4,878 | €1,215 | -€560 | -€2,693 | -€2,716 | -€1,534 | -€3,093 | -€2,433 | ▲ 21.3% |
| Profit (loss) for the period to be appropriated9905 | -€4,878 | €1,215 | -€560 | -€2,693 | -€2,716 | -€1,534 | -€3,093 | -€2,433 | ▲ 21.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €2,006 | €481 | €2,362 | €2,873 | €2,127 | €105 | €5,657 | €4,012 | ▼ 29.1% |
| Fixed assets21/28 | €73 | - | €183 | €361 | €135 | - | €1,324 | €942 | ▼ 28.8% |
| Intangible fixed assets21 | - | - | - | - | - | - | - | €0 | - |
| Tangible fixed assets22/27 | €73 | - | €183 | €361 | €135 | - | €1,324 | €942 | ▼ 28.8% |
| Land and buildings22 | - | - | - | - | - | - | €1,120 | €840 | ▼ 25.0% |
| Plant, machinery and equipment23 | - | - | - | €361 | €135 | - | €204 | €102 | ▼ 50.0% |
| Financial fixed assets28 | - | - | - | - | - | - | - | €0 | - |
| Current assets29/58 | €1,933 | €481 | €2,179 | €2,512 | €1,992 | €105 | €4,333 | €3,070 | ▼ 29.2% |
| Amounts receivable within one year40/41 | €1,900 | €439 | €818 | €2,243 | €261 | €4 | €3,190 | €2,613 | ▼ 18.1% |
| Trade receivables40 | - | - | - | €2,243 | €261 | - | €3,135 | €2,477 | ▼ 21.0% |
| Other amounts receivable41 | - | - | - | - | - | €4 | €55 | €136 | ▲ 148% |
| Cash at bank and in hand54/58 | €33 | €43 | €1,361 | €269 | €1,731 | €101 | €1,143 | €457 | ▼ 60.1% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €2,006 | €481 | €2,362 | €2,873 | €2,127 | €105 | €5,657 | €4,012 | ▼ 29.1% |
| Equity10/15 | -€8,066 | -€6,851 | -€7,411 | -€10,104 | -€12,820 | -€14,354 | -€17,448 | -€19,881 | ▼ 13.9% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Capital10 | - | - | - | €18,600 | €18,600 | - | - | - | - |
| Issued capital100 | - | - | - | €18,600 | €18,600 | - | - | - | - |
| Reserves13 | €2,917 | €2,917 | €2,917 | €2,917 | €2,917 | €2,917 | €2,917 | €2,917 | = |
| Distributable reserves133 | - | - | - | €2,917 | €2,917 | €2,917 | €2,917 | €2,917 | = |
| Profit (loss) carried forward14 | -€29,583 | -€28,368 | -€28,928 | -€31,621 | -€34,337 | -€35,871 | -€38,965 | -€41,398 | ▼ 6.2% |
| Amounts payable17/49 | €10,072 | €7,332 | €9,773 | €12,977 | €14,947 | €14,459 | €23,105 | €23,892 | ▲ 3.4% |
| Amounts payable within one year42/48 | €10,072 | €7,332 | €9,773 | €12,977 | €14,947 | €14,459 | €23,105 | €23,892 | ▲ 3.4% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | - | - | €0 | - | - |
| Trade debts44 | €334 | €56 | €1,516 | - | €85 | €476 | €1,179 | €60 | ▼ 94.9% |
| Suppliers440/4 | - | - | - | - | €85 | €476 | €1,179 | €60 | ▼ 94.9% |
| Taxes, remuneration and social security45 | - | - | - | €322 | €421 | €16 | €351 | €376 | ▲ 6.9% |
| Taxes450/3 | - | - | - | - | - | - | €351 | €376 | ▲ 6.9% |
| Remuneration and social security454/9 | - | - | - | €322 | €421 | €16 | - | - | - |
| Other amounts payable47/48 | - | - | - | €12,655 | €14,441 | €13,967 | €21,574 | €23,457 | ▲ 8.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€4,878 | €1,215 | -€560 | -€2,693 | -€2,716 | -€1,534 | -€3,093 | -€2,433 | ▲ 21.3% |
| + Depreciation and write-downs630 | €373 | €73 | €91 | €226 | €226 | €135 | €382 | €382 | = |
| Operating cash flow (approximation) | -€4,505 | €1,288 | -€469 | -€2,467 | -€2,490 | -€1,399 | -€2,712 | -€2,051 | ▲ 24.4% |
| Investment in fixed assets (approximation) | - | - | - | -€404 | €0 | - | - | €0 | - |
| Change in cash | - | €10 | €1,318 | -€1,092 | €1,462 | -€1,630 | €1,042 | -€687 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 29 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 31-08-2026 | 2026-00499582 |
| 31-12-2024 | abbreviated format | 31-08-2025 | 2025-00457219 |
| 31-12-2023 | micro format | 06-09-2024 | 2024-00454984 |
| 31-12-2022 | micro format | 29-09-2023 | 2023-00461088 |
| 31-12-2021 | micro format | 09-08-2022 | 2022-20278047 |
| 31-12-2020 | micro format | 30-08-2021 | 2021-60400123 |
| 31-12-2019 | micro format | 31-08-2020 | 2020-49000499 |
| 31-12-2018 | micro format | 29-08-2019 | 2019-54900331 |
| 31-12-2017 | micro format | 26-09-2018 | 2018-66400430 |
| 31-12-2016 | micro format | 18-08-2017 | 2017-45300416 |
Similar companies · same sector and region
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| VANLUCHENE Henny Magdalena Denise |
|
Owners and capital
Capital and shareholders
- 12-02-2024 Converted to unavailable equity · €18,600
Group and network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
12-02
Gazette deed
Amendment of the articles · Legal-form change · Resignations & appointmentsResignation: VANLUCHENE Henny Magdalena Denise (manager) · Appointment: VANLUCHENE Henny Magdalena Denise (niet statutair bestuurder) · Incorporation14 facts ▸
- General meeting, 31-01-2024
- Incorporation, 30-10-1990
- Other provision, “aanpassing statuten aan WVV en behoud rechtsvorm, aanpassen aan WVV” (deed in Dutch)
- Capital conversion, “statutair onbeschikbare eigen vermogensrekening” (deed in Dutch)
- Reserve release, “opheffing, beschikbaar voor uitkering” (deed in Dutch)
- Amendment of the articles
- Capital
- Power of attorney
- Other provision, “coördinatie_en_neerlegging_statuten, coördinatie_en_neerlegging_in_vennootschapsdossier” (deed in Dutch)
- Director resignation, VANLUCHENE Henny Magdalena Denise (manager)
- Director appointment, VANLUCHENE Henny Magdalena Denise (niet statutair bestuurder)
- Director discharge, VANLUCHENE Henny Magdalena Denise
- +2 further facts in this act
About the unread acts
Of the 2 Belgian Official Gazette deeds we know for this company, 1 has been read. The other one has not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 11025D0120/00G002 | Flanders | 98 m² | 1 · 73 m² | 11.9 m · 2 |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “Het leiden van een begrafenisonderneming, kwaliteit en service in zake; Het aannemen, organiseren van uitvaarten, begrafenissen en…” (deed in Dutch)
9 activities (deed in Dutch)
- Het leiden van een begrafenisonderneming, kwaliteit en service in zake.
- Het aannemen, organiseren van uitvaarten, begrafenissen en crematies, meer bepaald: lichaamsverzorging, overbrenging en transport van overledenen in binnen- en buitenland.
- Rouwdrukwerk.
- Alle wettelijke formaliteiten en taken eigen aan het beroep van begrafenisaannemer uitvoeren en verzorgen.
- Verkoop en plaatsing van grafkelders en zerken.
- Verkoop van bloemen en kransen.
- Begeleiding van ceremonieën en rouwverwerking.
- Het verlenen van diensten aan bedrijven en personen, waarin ondermeer begrepen: het verstrekken van adviezen, management, administratie, het optreden als tussen persoon of in onderaanneming.
- Studie-, organisatie- of raadgevend bureau te zijn inzake healing, reiki, voetreflexzone- behandeling en massagetherapieën.
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- PHARE
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaams Gewest, administratieve zetels, agentschappen, werkhuizen, stapelplaatsen, bijkantoren in België of buitenland” (deed in Dutch)
Who represents it, and how
- Board ruleHow the board is made up, meets and takes decisions.
- “1, bij gebrek bepaling duurtijd mandaat geacht onbepaalde duur” (deed in Dutch)
Capital, shares and profit
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- “Alle procedure- en expertisekosten voor helft ten laste overdrager en andere helft ten laste koper(s) naar evenredigheid verworven aantal…” (deed in Dutch)
- Share issue ruleHow and by whom new shares can be issued.
- “Ten minste vijftien dagen vanaf openstelling, inbreng in geld met uitgifte nieuwe aandelen” (deed in Dutch)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- Third Wednesday of June at 10:00
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- One provision in the deed
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Indien geen andere vereffenaar benoemd, bestuurder(s)_in_functie_krachtens_statuten” (deed in Dutch)