PHIE
ActiveSummary
The computed 12-month bankruptcy probability of PHIE is 2.1% (moderate). The annual accounts of PHIE for fiscal year 2025 show a net loss of 51% of the equity at the start of that year. The 2025 annual accounts show equity of €22k and a net result of €-23k. Equity is shrinking by ~33.5% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2027. Its solvency ranks better than 31% of 18280 sector peers (fiscal year 2025). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
37
/ 100
Weak
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability3=
Solvency37▼-14
Growth32=
Track record94
Bankruptcy probability, 12 months
2.1%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity ample (current ratio 3.55 against 7.76 in 2024; short-term debt: 24.6% and cash: 14.4% of total assets), but 87.7% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Sector 47
higher
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
12.3%
Return on assets
-12.9%
Age of the figures
9 mo
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
22232425
2022 to 2025 · latest year €-23k
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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.
NBB · 4 filingsDeviation from the deadline
2025
31 d late
2024
28 d late
2023
35 d early
2022
31 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€22k▼ 51.2%
2024 · €46k
2022: €60k
2023: €69k
2024: €46k
2022 → 2025
Total assets
€181k▲ 1.0%
2024 · €179k
2022: €182k
2023: €212k
2024: €179k
2022 → 2025
Net result
€-23k▼ 2.4%
2024 · €-23k
2022: €-404
2023: €9k
2024: €-23k
2022 → 2025
Working capital
€114k▼ 13.3%
2024 · €131k
2022: €131k
2023: €148k
2024: €131k
2022 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2022202320242025Trend
Equity€60k-€69k▲ 15.2%€46k▼ 33.3%€22k▼ 51.2%
Operating result€2k-€8k▲ 274%€-25k€-25k▼ 2.9%
Net result€-404-€9k€-23k€-23k▼ 2.4%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €25k in 2025 against €25k in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €181k
Fixed assets
€23k ▼ 19.9%
Current assets
€158k ▲ 5.1%
Equity and liabilities €181k
Equity
€22k ▼ 51.2%
Debt
€159k ▲ 18.9%
Debt's share of the balance-sheet total rises from 74.5% to 87.7%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-18k▼
2024 · €-18k
Cash flow
€-16k▼
2024 · €-16k
Current ratio
3.55▼
2024 · 7.76
Quick ratio
0.77▼
2024 · 2.08
Debt to equity
7.10▲
2024 · 2.92
ROE
-104.8%▼
2024 · -50.0%
ROA
-12.9%▼
2024 · -12.7%
Interest coverage
-37.69▼
2024 · -25.97
Debt ≤ 1 year
€45k▲
2024 · €19k
Debt > 1 year
€114k=
2024 · €114k
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 · 42 lines
Balance sheet
Code20242025
Assets
Total assets20/58€179k€181k▲
Formation expenses20€203€3▼
Fixed assets21/28€29k€23k▼
Tangible fixed assets22/27€29k€23k▼
Furniture and vehicles24€2k€2k▼
Other tangible fixed assets26€27k€22k▼
Current assets29/58€150k€158k▲
Stocks and contracts in progress3€110k€124k▲
Stocks30/36€110k€124k▲
Amounts receivable within one year40/41€301€3k▲
Trade receivables40-€3k
Other amounts receivable41€301€463▲
Cash at bank and in hand54/58€35k€26k▼
Deferred charges and accrued income490/1€5k€5k▼
Equity and liabilities
Total equity and liabilities10/49€179k€181k▲
Equity10/15€46k€22k▼
Contributions10/11€60k€60k=
Profit (loss) carried forward14€-14k€-38k▼
Amounts payable17/49€134k€159k▲
Amounts payable after more than one year17€114k€114k=
Financial debts170/4€114k€114k=
Amounts payable within one year42/48€19k€45k▲
Trade debts44€607€3k▲
Suppliers440/4€607€3k▲
Advances received on contracts in progress46€294€232▼
Taxes, remuneration and social security45€3k€3k▼
Taxes450/3€3k€3k▼
Other amounts payable47/48€15k€39k▲
Accrued charges and deferred income492/3€0€12▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€7k€7k▼
Other operating charges640/8€1k€1k▲
Gross operating margin9900€-17k€-17k▼
Operating profit (loss)9901€-25k€-25k▼
Financial income75/76B€3k€2k▼
Recurring financial income75€3k€2k▼
Financial charges65/66B€679€489▼
Recurring financial charges65€679€489▼
Profit (loss) for the period before taxes9903€-23k€-23k▼
Profit (loss) for the period9904€-23k€-23k▼
Profit (loss) for the period to be appropriated9905€-23k€-23k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-14k€-38k▼
Profit (loss) brought forward from the previous period14P€9k€-14k▼
The notes to these accounts (15 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
31-12
Financial
Weakest financial yearnet €-23k
Net result drops to €-23k, the lowest in the series.
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 28 days late
2024
26-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €9k
Net result €9k after one loss-making year.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
1 act for this company is 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, Gent · 1 establishment unit since 2021
Cannot 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.
Nederkouter 1189000 GentGround area
680 m²
Building footprint
476 m²
Volume, LiDAR
5,698 m³
2 parcels, Flanders · tallest building 17.0 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
Phiness
since 20212.319.931.875
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44805E1052/00E000 | Flanders | 601 m² | 1 · 419 m² | 17.0 m · 4 fl. |
| 44803C1099/00A000 | Flanders | 79 m² | 1 · 57 m² | 14.9 m · 3 fl. |
Linked by address, not proof of ownership
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.
Similar companies · same sector, comparable size
MELANO
BE 1014.540.420
Liège · Eq €22,356
ZELLY
BE 0472.361.393
Maldegem · Eq €22,501
B-E-ST MOVES
BE 0872.789.370
Assenede · Eq €22,197
MGJM
BE 0500.843.860
Charleroi · Eq €22,120
Belgium Coast Events
BE 0430.664.459
Brugge · Eq €22,073
Of 1,034 companies in sector 47721 we hold annual accounts for 582. 347 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded07-01-2021
Fiscal year end31-12
Activities, NACEBEL 2025
47721Retail sale of footwear
47716Retail sale of clothing and accessories for women, men, children and babies (general range)
47722Retail trade
Sources
Crossroads Bank for EnterprisesNational Bank · 4 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.