Result
From profit to loss in 2025, after a profit of €96,013 in 2024.
From profit to loss in 2025, after a profit of €96,013 in 2024.
Green is investment, beige is depreciation. Land and buildings stand 17.3% higher than in 2024.
In 2025, 4 people joined and 4 left.
The dashed line is the sector median: 0.3% across 748 companies (NACE 25, small).
About 4 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 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 25, small). It does better than 59% of them on solvency, 21% on liquidity, 26% on profitability and 28% on growth.
The bankruptcy probability was computed on 09-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 2,686 companies had the same profile as PHM ENGINEERING has now. Each dot stands for 7 companies, two years later.
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of PHM ENGINEERING itself: 0.4% within 12 months.
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 2,686 companies, not a prediction for PHM ENGINEERING. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Liquidity is ample, with a current ratio of 1.99 (1.87 in 2024), above the usual 1.5. Short-term debt is 48% and cash 2.2% of total assets. 49% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average 14 days before the deadline. In the sector (NACE 25), the median for financial year 2024 was 7 days before the deadline, and 35% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| PHM ENGINEERING Sint-Truiden | €2.6m | €0.9m | 51.0% | 11.2 |
| SYSTEM-DAIX Héron | €2.3m | €0.8m | 12.8% | 10.9 |
| Piping & Process Solutions Lummen | €2.5m | €1.0m | 65.5% | 8.3 |
| Lifting Engineering Boechout | €2.3m | €0.9m | 50.6% | 8.9 |
| PIET ANDRIES Sint-Laureins | €2.3m | €0.8m | 17.9% | 8.5 |
| MALMAR Ghent | €2.6m | €0.6m | 7.1% | 9.2 |
| ARCALU Vaux-sur-Sûre | €3.4m | €0.9m | 31.3% | 8.6 |
These companies have the same main activity as PHM ENGINEERING: machining of metals (NACE 25530). They are comparable in size and age: total assets between €2.3m and €3.4m, founded between 2011 and 2015.
PHM ENGINEERING has existed since 2014. The gross margin fell from €1.2m in 2019 to €407,177 in 2020.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
The turnover shown is an estimate from the gross margin.
Turnover ≈ €2.0m. Estimated: probably between €1.2m and €3.5m.
Higher than 56% of 834 companies in 2025.
Higher than 58% of 826 companies in 2025.
Higher than 24% of 831 companies in 2025.
Net result: bottom quarter · Equity: middle half · Balance sheet total: middle half · Working capital: middle half · Staff: middle half
Staff costs divided by the average number of full-time equivalents.
In 2025, 4 people joined and 4 left.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||||
20/58 |
2.6m | 2.7m | 2.8m | 3.1m | 3.1m | 3.4m | 3.8m | 3.5m | 2.7m | 2.6m | 2.3m | 1.7m | |
21/28 |
110,608 | 218,935 | 392,564 | 573,793 | 770,890 | 1.1m | 1.3m | 1.2m | 772,467 | 872,315 | 558,083 | 275,038 | |
22/27 |
105,130 | 213,456 | 387,085 | 568,314 | 765,412 | 1.1m | 1.3m | 1.2m | 766,989 | 863,737 | 549,505 | 266,460 | |
22 |
26,625 | 22,690 | 7,526 | 4,823 | 6,143 | 7,462 | 8,782 | 10,101 | 6,079 | 3,954 | 4,448 | - | |
23 |
- | 60,000 | 158,571 | 258,343 | 397,304 | 542,166 | 687,027 | 411,888 | 118,468 | 122,083 | 166,013 | 215,710 | |
24 |
50,998 | 77,045 | 105,338 | 115,295 | 35,312 | 53,594 | 60,538 | 58,629 | 52,790 | 108,345 | 74,511 | 50,750 | |
25 |
27,507 | 53,721 | 115,650 | 189,853 | 326,653 | - | - | - | - | - | - | - | |
28 |
5,478 | 5,478 | 5,478 | 5,478 | 5,478 | 5,478 | 5,478 | 5,478 | 5,478 | 8,578 | 8,578 | 8,578 | |
29/58 |
2.5m | 2.5m | 2.4m | 2.6m | 2.3m | 2.3m | 2.5m | 2.3m | 2.0m | 1.8m | 1.7m | 1.5m | |
3 |
1.3m | 1.3m | 1.3m | 1.3m | 1.4m | 1.2m | 1.4m | 1.4m | 1.4m | 1.1m | 1.1m | 966,217 | |
30/36 |
539,444 | 439,206 | 517,163 | 490,126 | 524,008 | 484,730 | 484,660 | 524,573 | 506,866 | 500,823 | 380,201 | 307,821 | |
37 |
798,934 | 835,613 | 786,653 | 850,206 | 838,617 | 707,202 | 873,955 | 907,116 | 856,905 | 639,526 | 689,875 | 658,396 | |
40/41 |
1.0m | 1.2m | 1.1m | 1.1m | 888,753 | 1.0m | 979,556 | 874,488 | 561,576 | 523,982 | 577,007 | 427,653 | |
40 |
847,033 | 988,779 | 799,901 | 898,892 | 670,549 | 860,821 | 799,366 | 829,971 | 508,236 | 486,239 | 521,840 | 412,078 | |
41 |
187,763 | 191,483 | 256,909 | 232,020 | 218,205 | 177,915 | 180,190 | 44,517 | 53,341 | 37,743 | 55,167 | 15,575 | |
54/58 |
55,216 | 50,267 | 54,432 | 80,840 | 58,389 | 14,455 | 148,152 | 13,636 | 27,013 | 88,212 | 75,441 | 54,070 | |
490/1 |
26,831 | 1,502 | 14,690 | 8,860 | 4,054 | 8,634 | 16,069 | 6,708 | 23,363 | 1,765 | 737 | 2,918 | |
| Balance sheet: equity and liabilities | |||||||||||||
10/49 |
2.6m | 2.7m | 2.8m | 3.1m | 3.1m | 3.4m | 3.8m | 3.5m | 2.7m | 2.6m | 2.3m | 1.7m | |
10/15 |
1.3m | 1.3m | 1.2m | 1.2m | 913,124 | 704,089 | 1.2m | 1.0m | 769,951 | 701,745 | 657,974 | 571,181 | |
10/11 |
100,000 | 100,000 | 100,000 | 47,160 | 47,160 | 47,160 | 47,160 | 47,160 | 47,160 | 47,160 | 47,160 | 47,160 | |
10 |
100,000 | 100,000 | 100,000 | - | - | - | - | - | - | - | - | - | |
100 |
100,000 | 100,000 | 100,000 | - | - | - | 47,160 | 47,160 | 47,160 | 47,160 | 47,160 | 47,160 | |
13 |
1.2m | 1.2m | 1.1m | 1.2m | 1.2m | 1.2m | 1.2m | 979,239 | 722,791 | 654,585 | 610,814 | 524,021 | |
130/1 |
4,716 | 4,716 | 4,716 | 4,716 | 4,716 | 4,716 | - | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 4,716 | 4,716 | 4,716 | 4,716 | 4,716 | 4,716 | |
1311 |
4,716 | 4,716 | 4,716 | 4,716 | 4,716 | 4,716 | - | - | - | - | - | - | |
132 |
- | - | - | - | - | 14,262 | 14,262 | 14,262 | 14,262 | 14,262 | 14,262 | 14,262 | |
133 |
1.2m | 1.2m | 1.1m | 1.2m | 1.2m | 1.2m | 1.2m | 960,261 | 703,813 | 635,607 | 591,836 | 505,043 | |
14 |
-7,877 | - | -74 | -38,046 | -307,976 | -531,272 | - | - | - | - | - | - | |
17/49 |
1.3m | 1.4m | 1.6m | 2.0m | 2.2m | 2.7m | 2.5m | 2.5m | 2.0m | 1.9m | 1.6m | 1.2m | |
17 |
16,514 | 49,229 | 191,066 | 417,861 | 636,829 | 979,604 | 1.0m | 917,189 | 616,271 | 722,573 | 425,834 | 176,697 | |
170/4 |
16,514 | 49,229 | 191,066 | 417,861 | 636,829 | 979,604 | 1.0m | 917,189 | 616,271 | 722,573 | 425,834 | 176,697 | |
42/48 |
1.2m | 1.3m | 1.4m | 1.5m | 1.5m | 1.7m | 1.5m | 1.5m | 1.4m | 1.2m | 1.2m | 963,302 | |
42 |
35,263 | 148,141 | 238,246 | 277,115 | 350,533 | 372,479 | 324,629 | 277,620 | 228,295 | 224,607 | 163,671 | 95,085 | |
43 |
787,716 | 806,204 | 662,099 | 824,745 | 703,424 | 889,076 | 633,947 | 779,980 | 647,807 | 474,408 | 550,648 | 437,608 | |
430/8 |
787,716 | 806,204 | 662,099 | 824,745 | 703,424 | 889,076 | 633,947 | 779,980 | 647,807 | 474,408 | 550,648 | 437,608 | |
44 |
282,445 | 252,237 | 363,063 | 279,873 | 365,286 | 337,748 | 442,870 | 319,436 | 390,906 | 395,078 | 383,852 | 367,025 | |
440/4 |
282,445 | 252,237 | 363,063 | 279,873 | 365,286 | 337,748 | 442,870 | 319,436 | 390,906 | 395,078 | 383,852 | 367,025 | |
45 |
73,897 | 77,951 | 80,202 | 75,842 | 72,411 | 67,156 | 101,422 | 136,714 | 75,668 | 96,727 | 93,095 | 63,584 | |
450/3 |
- | 6,155 | 17,722 | 18,010 | 23,949 | 1,497 | 33,481 | 69,223 | 4,523 | 24,523 | 20,316 | 2,959 | |
454/9 |
73,897 | 71,796 | 62,480 | 57,832 | 48,461 | 65,659 | 67,942 | 67,492 | 71,145 | 72,204 | 72,779 | 60,625 | |
47/48 |
52,103 | 59,490 | 36,729 | 44,954 | 22,419 | 22,419 | 29,128 | 25,253 | 12,100 | 3,149 | 6,270 | - | |
492/3 |
8,731 | 15,494 | 29,881 | 31,294 | 20,686 | 4,094 | 12,725 | 8,337 | 7,192 | 8,335 | - | 14,717 | |
| Income statement | |||||||||||||
76A |
12,082 | 20,197 | 18,028 | 8,000 | - | 7,407 | - | 67,371 | - | 48,460 | 54,228 | 1,457 | |
9900 |
864,267 | 1.0m | 898,395 | 1.2m | 1.2m | 407,177 | 1.2m | 1.2m | 970,629 | 1.0m | 921,408 | 772,456 | |
62 |
634,422 | 630,990 | 548,475 | 525,046 | 587,467 | 523,791 | 542,323 | 507,082 | 604,324 | 624,940 | 653,904 | 553,904 | |
630 |
115,826 | 191,179 | 210,241 | 298,687 | 352,018 | 349,594 | 334,652 | 277,126 | 191,613 | 198,195 | 126,869 | 79,746 | |
640/8 |
4,322 | 4,701 | 4,921 | 5,530 | 6,281 | 6,756 | 4,261 | 3,960 | 4,722 | 4,278 | 6,103 | 12,396 | |
66A |
- | - | - | - | 216 | 4,258 | - | - | 11,614 | 73,813 | 425 | 2,881 | |
9901 |
109,697 | 202,124 | 134,758 | 334,849 | 278,041 | -477,221 | 356,351 | 409,699 | 169,970 | 218,107 | 134,531 | 126,410 | |
75/76B |
- | 10,117 | 4,523 | 3,196 | 1,007 | 305 | 2,106 | 790 | 3,957 | 3,533 | 2,822 | 3,072 | |
75 |
- | 10,117 | 4,523 | 3,196 | 1,007 | 305 | 2,106 | 790 | 3,957 | 3,533 | 2,822 | 3,072 | |
65/66B |
102,400 | 70,143 | 83,741 | 61,550 | 59,815 | 52,859 | 75,882 | 80,222 | 71,583 | 133,426 | 62,164 | 48,330 | |
65 |
53,298 | 70,143 | 83,741 | 61,550 | 59,815 | 52,859 | 75,882 | 80,222 | 59,969 | 59,613 | 62,164 | 48,330 | |
66B |
49,102 | - | - | - | - | - | - | - | 11,614 | 73,813 | - | - | |
9903 |
7,297 | 142,098 | 55,540 | 276,494 | 219,233 | -529,775 | 282,575 | 330,268 | 102,343 | 88,214 | 128,993 | 79,728 | |
67/77 |
15,174 | 46,086 | 17,568 | 6,564 | 10,199 | 1,497 | 73,613 | 73,819 | 34,138 | 44,443 | 42,199 | 22,308 | |
9904 |
-7,877 | 96,013 | 37,972 | 269,930 | 209,035 | -531,272 | 208,962 | 256,449 | 68,205 | 43,771 | 86,794 | 57,420 | |
789 |
- | - | - | - | 14,262 | - | - | - | - | - | - | - | |
9905 |
-7,877 | 96,013 | 37,972 | 269,930 | 223,297 | -531,272 | 208,962 | 256,449 | 68,205 | 43,771 | 86,794 | 57,420 | |
| Appropriation of the result | |||||||||||||
9906 |
-7,877 | 95,939 | -74 | -38,046 | -307,976 | -531,272 | 208,962 | 256,449 | 68,205 | 43,771 | 86,794 | 57,420 | |
14P |
- | -74 | -38,046 | -307,976 | -531,272 | - | - | - | - | - | - | - | |
691/2 |
- | 95,939 | - | - | - | - | 208,962 | 256,449 | 68,205 | 43,771 | 86,794 | 57,420 | |
6921 |
- | 95,939 | - | - | - | - | 208,962 | 256,449 | 68,205 | 43,771 | 86,794 | 57,420 | |
| Social balance sheet | |||||||||||||
9087 |
11.2 | 13.1 | 12 | 12.1 | 12.3 | 10.9 | 11.8 | 11 | 13.8 | 15.1 | 14.6 | 8.1 | |
Hours worked1013 |
17,113 | 18,942 | 16,753 | 16,585 | 18,570 | 16,077 | 18,829 | 16,823 | 21,285 | 22,865 | 23,031 | 11,784 | |
| Document | |||||||||||||
The notes to these accounts have 11 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 06-07-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 06-07-2026 | 2026-00269146 | |
| 31-12-2024 | abbreviated format | 10-06-2025 | 2025-00132041 | |
| 31-12-2023 | abbreviated format | 23-07-2024 | 2024-00284051 | |
| 31-12-2022 | abbreviated format | 20-07-2023 | 2023-00255030 | |
| 31-12-2021 | abbreviated format | 13-06-2022 | 2022-20062324 | |
| 31-12-2020 | abbreviated format | 24-08-2021 | 2021-52500070 | |
| 31-12-2019 | abbreviated format | 20-08-2020 | 2020-43200284 | |
| 31-12-2018 | abbreviated format | 03-06-2019 | 2019-15700222 | |
| 31-12-2017 | abbreviated format | 25-06-2018 | 2018-23200274 | |
| 31-12-2016 | abbreviated format | 28-06-2017 | 2017-24100001 | |
| 31-12-2015 | abbreviated format | 13-06-2016 | 2016-17600187 | |
| 31-12-2014 | abbreviated format | 01-07-2015 | 2015-26000221 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 225,523 | 393,304 | 344,999 | 633,536 | 630,059 | -127,627 | 691,003 | 686,826 | 361,583 | 416,302 | 261,401 | 206,155 | ||
| 107,949 | 287,192 | 248,213 | 568,617 | 561,053 | -181,679 | 543,614 | 533,575 | 259,818 | 241,966 | 213,663 | 137,166 | ||
| 7,500 | 17,550 | 28,826 | 101,590 | 0 | 227,930 | 449,040 | 746,695 | 92,329 | 512,427 | 431,614 | 8,578 | ||
| 4,949 | -4,165 | -26,408 | 22,452 | 43,934 | -133,697 | 134,515 | -13,377 | -61,199 | 12,771 | 21,371 | - | ||
| 1.2m | 1.2m | 1.0m | 1.1m | 799,748 | 564,878 | 970,395 | 787,518 | 620,947 | 560,338 | 525,725 | 487,556 | ||
| 51.0% | 48.3% | 43.3% | 37.7% | 29.6% | 20.9% | 32.7% | 29.4% | 28.0% | 26.7% | 28.8% | 33.1% | ||
| 1.99 | 1.87 | 1.76 | 1.70 | 1.53 | 1.33 | 1.63 | 1.51 | 1.46 | 1.47 | 1.44 | 1.51 | ||
| 0.91 | 0.92 | 0.82 | 0.81 | 0.63 | 0.63 | 0.75 | 0.58 | 0.45 | 0.51 | 0.55 | 0.50 | ||
| 0.96 | 1.07 | 1.31 | 1.65 | 2.38 | 3.80 | 2.06 | 2.40 | 2.57 | 2.74 | 2.47 | 2.02 | ||
| -0.6% | 7.3% | 3.1% | 22.8% | 22.9% | -75.5% | 16.9% | 25.0% | 8.9% | 6.2% | 13.2% | 10.1% | ||
| -0.3% | 3.5% | 1.3% | 8.6% | 6.8% | -15.7% | 5.5% | 7.3% | 2.5% | 1.7% | 3.8% | 3.3% | ||
| 4.23 | 5.61 | 4.12 | 10.29 | 10.53 | - | - | - | - | - | - | - |
EBIT margin: not included in this filing.
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 31-12-2025 | 31-12-2024 | 31-12-2023 | 31-12-2022 | 31-12-2021 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 11 | 11 | 10 | 10 | 12 |
| full-time | 11 | 11 | 10 | 10 | 11 |
| part-time | 0 | - | - | - | 1 |
| in full-time equivalents | 11 | 11 | 10 | 10 | 11.2 |
| 11.2 | 13.1 | 12 | 12.1 | 12.3 | |
| On a permanent contract | 11 | 11 | 10 | 10 | 11 |
| Joined | 4 | 9 | 8 | 7 | 6 |
| Left | 4 | 8 | 8 | 9 | 6 |
Source: social balance sheet in the 2021 to 2025 annual accounts
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €7,500 | €17,550 | €28,826 | €101,590 | - |
| €115,826 | €191,179 | €210,241 | €298,687 | €352,018 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 46% lower than in 2024 and the lowest since 2020.
Debt's share of the balance-sheet total falls from 51.7% to 49.0%. Equity and debt are lower.
PHM ENGINEERING has no parent and no holdings in its annual accounts.
| GROUP MISSOTTEN
registered office since 06-11-1990 · founded in 1990 |
total assets €1.2m (2025) 0440.019.219 |
| GROUP MISSOTTEN via MISSOTTEN Philippe François Marie Ghislain, at PHM ENGINEERING until 2023 · Director (not named in the articles) · deed of 15-06-2023 founded in 1990 |
total assets €1.2m (2025) |
The network starts from the earlier ties.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Bedrijvenstraat 5785 registered office 3800 Sint-Truiden | 10-04-2014 | 2.230.218.753 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 71009A0062/00B002 | 2,475 m² | 1 · 1,208 m² | 7.1 m · 2 |
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