PINGUIN
ActiveSummary
The computed 12-month bankruptcy probability of PINGUIN is 2.6% (moderate). The 2024 annual accounts show equity of €22,616 and a net result of €9,618. Equity remains stable across the filed fiscal years (±1.7% per year). Its solvency ranks better than 85% of 3560 sector peers (fiscal year 2024). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability100▲+100
Solvency98▲+24
Growth52▲+20
Track record100
Bankruptcy probability, 12 months
2.6%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,500 at 30 days acceptable
Liquidity ample (current ratio 4.82 against 3.22 in 2023; short-term debt: 16.6% and cash: 46.9% of total assets), and 27.1% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+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 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← 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 2024Solvency, return and age of the figures
Solvency
72.9%
Return on assets
31%
Age of the figures
21 mo
lowers risk · Growing equity
Reported equity is higher than in 2022 and did not fall compared with 2023. These amounts do not establish the cause of the change.
NBB · annual accounts 2024Equity per financial year
2021222324
2020 to 2024 · latest year €22,616
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 27-06-2025, 34 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
not confirmed
2024
34 d early
2023
36 d early
2022
32 d early
2021
37 d early
2020
46 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 37 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€9,618
2023 · -€4,740
Working capital
€19,664▲ 47.4%
2023 · €13,338
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€11,516-€7,124▼ 38.1%-€5,353-€3,939▲ 26.4%€10,164
Net result€11,141within the sector's middle half-€7,398within the sector's middle half▼ 33.6%-€5,801below the sector's middle half-€4,740below the sector's middle half▲ 18.3%€9,618within the sector's middle half
Equity€16,141below the sector's middle half-€23,539below the sector's middle half▲ 45.8%€17,738below the sector's middle half▼ 24.6%€12,998below the sector's middle half▼ 26.7%€22,616below the sector's middle half▲ 74.0%
Total assets€18,190below the sector's middle half-€23,661below the sector's middle half▲ 30.1%€34,790below the sector's middle half▲ 47.0%€26,403below the sector's middle half▼ 24.1%€31,030below the sector's middle half▲ 17.5%
Debt€2,049-€122▼ 94.0%€17,052▲ 13,877%€13,405▼ 21.4%€8,414▼ 37.2%
Working capital€12,955below the sector's middle half-€21,321within the sector's middle half▲ 64.6%€19,951within the sector's middle half▼ 6.4%€13,338below the sector's middle half▼ 33.1%€19,664below the sector's middle half▲ 47.4%
Solvency88.7%above the sector's middle half-99.5%above the sector's middle half▲ 10.7pp51.0%within the sector's middle half▼ 48.5pp49.2%within the sector's middle half▼ 1.8pp72.9%above the sector's middle half▲ 23.7pp
Current ratio7.32above the sector's middle half-4.46above the sector's middle half3.22above the sector's middle half▼ 1.244.82above the sector's middle half▲ 1.60
Return on assets (ROA)61.2%above the sector's middle half-31.3%above the sector's middle half▼ 30.0pp-16.7%below the sector's middle half▼ 47.9pp-18.0%below the sector's middle half▼ 1.3pp31.0%above the sector's middle half▲ 48.9pp
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2024: €10,164 after a loss of €3,939 in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €31,030
Fixed assets
€6,219 ▼ 11.9%
Current assets
€24,811 ▲ 28.3%
Equity and liabilities €31,030
Equity
€22,616 ▲ 74.0%
Debt
€8,414 ▼ 37.2%
Debt's share of the balance-sheet total falls from 50.8% to 27.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€13,705▲
2023 · -€801
Cash flow
€13,159▲
2023 · -€1,602
Debt to equity
0.37▼
2023 · 1.03
ROE
42.5%▲
2023 · -36.5%
Interest coverage
21.28▲
2023 · -0.92
Debt ≤ 1 year
€5,147▼
2023 · €6,005
Debt > 1 year
€3,267▼
2023 · €7,400
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,970 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.5%
went bankrupt
3.4%
stopped otherwise
95%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 2.6% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 26,970 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.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €968 | €968 | €1,487 | €3,138 | €3,541 | ▲ 12.8% |
| Other operating charges640/8 | - | €73 | €423 | €469 | €526 | ▲ 12.2% |
| Gross operating margin9900 | €12,958 | €8,165 | -€3,443 | -€332 | €14,231 | ▲ 4,386% |
| Operating profit (loss)9901 | €11,516 | €7,124 | -€5,353 | -€3,939 | €10,164 | ▲ 358% |
| Financial income75/76B | - | €185 | €244 | €72 | €98 | ▲ 36.1% |
| Recurring financial income75 | - | €185 | €244 | €72 | €98 | ▲ 36.1% |
| Financial charges65/66B | - | €72 | €814 | €873 | €644 | ▼ 26.2% |
| Recurring financial charges65 | €93 | €72 | €814 | €873 | €644 | ▼ 26.2% |
| Profit (loss) for the period before taxes9903 | €11,423 | €7,237 | -€5,923 | -€4,740 | €9,618 | ▲ 303% |
| Income taxes67/77 | €282 | -€161 | -€122 | - | - | - |
| Profit (loss) for the period9904 | €11,141 | €7,398 | -€5,801 | -€4,740 | €9,618 | ▲ 303% |
| Profit (loss) for the period to be appropriated9905 | €11,141 | €7,398 | -€5,801 | -€4,740 | €9,618 | ▲ 303% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €18,190 | €23,661 | €34,790 | €26,403 | €31,030 | ▲ 17.5% |
| Fixed assets21/28 | €3,186 | €2,218 | €9,080 | €7,060 | €6,219 | ▼ 11.9% |
| Tangible fixed assets22/27 | €3,186 | €2,218 | €9,080 | €7,060 | €6,219 | ▼ 11.9% |
| Plant, machinery and equipment23 | - | €1,875 | €9,080 | €7,060 | €6,219 | ▼ 11.9% |
| Furniture and vehicles24 | - | €343 | - | - | - | - |
| Current assets29/58 | €15,004 | €21,443 | €25,710 | €19,343 | €24,811 | ▲ 28.3% |
| Amounts receivable within one year40/41 | €1,291 | €6,428 | €4,879 | €8,771 | €7,220 | ▼ 17.7% |
| Trade receivables40 | - | - | €949 | €5,335 | €4,558 | ▼ 14.6% |
| Other amounts receivable41 | - | €6,428 | €3,930 | €3,436 | €2,662 | ▼ 22.5% |
| Cash at bank and in hand54/58 | €13,713 | €15,015 | €14,783 | €6,031 | €14,543 | ▲ 141% |
| Deferred charges and accrued income490/1 | - | - | €6,048 | €4,541 | €3,048 | ▼ 32.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €18,190 | €23,661 | €34,790 | €26,403 | €31,030 | ▲ 17.5% |
| Equity10/15 | €16,141 | €23,539 | €17,738 | €12,998 | €22,616 | ▲ 74.0% |
| Contributions10/11 | €5,000 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Capital10 | - | €5,000 | €5,000 | - | - | - |
| Issued capital100 | - | €5,000 | €5,000 | - | - | - |
| Reserves13 | €500 | €500 | €500 | €500 | €500 | = |
| Non-distributable reserves130/1 | - | €500 | €500 | €500 | €500 | = |
| Legal reserve130 | - | €500 | €500 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €500 | €500 | = |
| Profit (loss) carried forward14 | €10,641 | €18,039 | €12,238 | €7,498 | €17,116 | ▲ 128% |
| Amounts payable17/49 | €2,049 | €122 | €17,052 | €13,405 | €8,414 | ▼ 37.2% |
| Amounts payable after more than one year17 | - | - | €11,293 | €7,400 | €3,267 | ▼ 55.9% |
| Financial debts170/4 | - | - | €11,293 | €7,400 | €3,267 | ▼ 55.9% |
| Amounts payable within one year42/48 | €2,049 | €122 | €5,759 | €6,005 | €5,147 | ▼ 14.3% |
| Current portion of amounts payable after more than one year42 | - | - | €3,667 | €3,893 | €4,133 | ▲ 6.2% |
| Trade debts44 | €1,608 | - | €2,092 | €2,112 | €358 | ▼ 83.0% |
| Suppliers440/4 | - | - | €2,092 | €2,112 | €358 | ▼ 83.0% |
| Taxes, remuneration and social security45 | - | €122 | - | - | - | - |
| Taxes450/3 | - | €122 | - | - | - | - |
| Other amounts payable47/48 | - | - | - | - | €656 | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €11,141 | €7,398 | -€5,801 | -€4,740 | €9,618 | ▲ 303% |
| + Depreciation and write-downs630 | €968 | €968 | €1,487 | €3,138 | €3,541 | ▲ 12.8% |
| Operating cash flow (approximation) | €12,109 | €8,366 | -€4,314 | -€1,602 | €13,159 | ▲ 921% |
| Investment in fixed assets (approximation) | - | €0 | -€8,349 | -€1,118 | -€2,700 | ▼ 142% |
| Change in cash | - | €1,302 | -€232 | -€8,752 | €8,512 | ▲ 197% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2025
27-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Back to profitnet €9,618
Net result €9,618 after 2 loss-making years.
25-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
29-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet -€5,801
Net result drops to -€5,801, the lowest in the series; recovery starts the following year.
24-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Liquidity times 24current ratio 175.76
Current ratio from 7.32 to 175.76; short-term debt falls from €2,049 to €122.
15-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 acts for this company are 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, Braives · 1 establishment unit since 2019
Ground area
1,776 m²
Building footprint
227 m²
Volume, LiDAR
1,362 m³
Parcel 64004A0478/00H000, Wallonia · tallest building 8.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
PINGUIN
since 20192.296.148.960
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 64004A0478/00H000 | Wallonia | 1,776 m² | 1 · 227 m² | 8.4 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 9,536 companies in sector 43222 we hold annual accounts for 5,669. 3,693 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded30-11-2019
Fiscal year end31-12
Activities, NACEBEL 2025
43222Installation of electric heating, air conditioning, cooling and ventilation
33110Repair and maintenance of fabricated metal products
43221Plumbing work
43230Insulation installation
74140Other specialised design activities
82300Organisation of conventions and trade shows
90393Specialised image, lighting and sound technical services
93199Other sports activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0738601352
Registered
15-09-2025
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.