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PJGR

Active
Private limited companyfounded 199233 yrs activeTorhoutse Steenweg 491, 8200 Brugge, BelgiumKBO/BCE: BE 0448.335.978
Summary

PJGR has been active since 1992 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.7m and a net result of €17,193. Equity is growing by ~5.2% per year across the filed fiscal years. Its solvency ranks better than 84% of 9294 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).

Checked score

Score 2025
Axes · tick = 2024
Profitability47▼-53
Solvency100=
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €130,000 at 30 days acceptable
Liquidity ample (current ratio 27.93 against 27.74 in 2024; short-term debt: 2.3% and cash: 11.6% of total assets), and 20.9% of the assets are financed with debt.
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Signals

Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation date
Age against the risk zone
highest failure risk from 2 to 8 years 33 years 0 40 y
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025
Solvency, return and age of the figures
Solvency
79.1%
Return on assets
0.8%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 20-08-2026, 20 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 · 10 filings
Deviation from the deadline
2025
20 d late
2024
21 d early
2023
20 d late
2022
30 d late
2021
31 d late
2020
116 d early
2019
50 d early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 7 accounts on average 12 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.

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 months
Position in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

History

PJGR was incorporated on 1 October 1992.1 Total assets rose from EUR 1.8 million in 2018 to EUR 2.2 million in 2025.2

  1. 1Crossroads Bank for Enterprises
  2. 2National Bank, annual accounts 2018 and 2025

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Financials · fiscal year 2025, abbreviated schema

Equity
€1.7m▲ 1.0%
2024 · €1.7m
Total assets
€2.2m▲ 0.8%
2024 · €2.2m
Net result
€17,193▼ 97.1%
2024 · €586,845
Working capital
€1.4m▲ 3.0%
2024 · €1.3m
Trend over the years

Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate 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
Line20212022202320242025
Operating result€76,484▲ 7.2%€95,156▲ 24.4%€110,353▲ 16.0%€800,983▲ 626%€41,486▼ 94.8%
Net result€35,122above the sector's middle half▲ 18.0%€49,457above the sector's middle half▲ 40.8%€66,460above the sector's middle half▲ 34.4%€586,845above the sector's middle half▲ 783%€17,193within the sector's middle half▼ 97.1%
Equity€1.0mabove the sector's middle half▲ 3.5%€1.1mabove the sector's middle half▲ 4.8%€1.1mabove the sector's middle half▲ 6.2%€1.7mabove the sector's middle half▲ 51.4%€1.7mabove the sector's middle half▲ 1.0%
Total assets€1.6mabove the sector's middle half▼ 4.6%€1.6mabove the sector's middle half=€1.6mabove the sector's middle half▼ 3.3%€2.2mabove the sector's middle half▲ 38.5%€2.2mwithin the sector's middle half▲ 0.8%
Debt€608,514▼ 15.8%€558,622▼ 8.2%€438,033▼ 21.6%€459,198▲ 4.8%€460,307▲ 0.2%
Working capital-€56,066▲ 4.9%€4,993€12,386▲ 148%€1.3m▲ 10,520%€1.4m▲ 3.0%
Solvency62.7%within the sector's middle half▲ 4.9pp65.8%above the sector's middle half▲ 3.0pp72.3%above the sector's middle half▲ 6.5pp79.0%above the sector's middle half▲ 6.7pp79.1%above the sector's middle half▲ 0.1pp
Staff (FTE)0within the sector's middle half
above within below the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Why a figure moved sharply
  • 2025 Net result -97% on 2024. The accounts now follow the abbreviated schema, last year the micro schema.
Result per fiscal year
Operating resultNet result
€0€250,000€500,000€750,000Operating result 2021: €76,484€76,484Net result 2021: €35,122€35,122Operating result 2022: €95,156€95,156Net result 2022: €49,457€49,457Operating result 2023: €110,353€110,353Net result 2023: €66,460€66,460Operating result 2024: €800,983€800,983Net result 2024: €586,845€586,845Operating result 2025: €41,486€41,486Net result 2025: €17,193€17,19320212022202320242025€0€250,000€500,000€750,000Operating result 2023: €110,353€110,000Net result 2023: €66,460€66,500Operating result 2024: €800,983€801,000Net result 2024: €586,845€587,000Operating result 2025: €41,486€41,500Net result 2025: €17,193€17,200202320242025
The operating result falls in 2025; 2025 is 95% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.2m
Fixed assets €800,145 ▼ 2.7%
Current assets €1.4m ▲ 3.0%
Equity and liabilities €2.2m
Equity €1.7m ▲ 1.0%
Debt €460,307 ▲ 0.2%
Debt's share of the balance-sheet total falls from 21.0% to 20.9%. Equity and debt are higher.
Key figures and ratios
2025 value · change against 2024
EBITDA
€61,003▼
2024 · €816,710
Cash flow
€36,710▼
2024 · €602,571
Current ratio
27.93▲
2024 · 27.74
Debt to equity
0.26▼
2024 · 0.27
ROE
1.0%▼
2024 · 34.0%
ROA
0.8%▼
2024 · 26.8%
Interest coverage
3.29▼
2024 · 44.09
Debt ≤ 1 year
€50,307▲
2024 · €49,198
Debt > 1 year
€410,000=
2024 · €410,000
Income taxes
€5,768▼
2024 · €195,615
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 14,684 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 96% are still going.

  • Small
  • 20 years or older
  • solvency 30% or more
  • a profit under 5% of the balance sheet
0.2% went bankrupt
3.5% stopped otherwise
96% still going

A further 0.2% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a bankruptcy probability of 0.2% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.

The companies in ten equal groups, from lowest to highest expected share.
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% 1.6%
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 74% 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 14,684 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
Filed annual accounts As filed with the NBB · 2025 against 2024 · 45 lines
Balance sheet Code20242025
Assets
Total assets20/58€2.2m€2.2m▲
Fixed assets21/28€822,426€800,145▼
Tangible fixed assets22/27€822,426€800,145▼
Land and buildings22€795,500€781,250▼
Plant, machinery and equipment23€13,433€9,833▼
Furniture and vehicles24€13,494€9,062▼
Current assets29/58€1.4m€1.4m▲
Amounts receivable within one year40/41€1.2m€1.2m▼
Trade receivables40€19,636€0▼
Other amounts receivable41€1.2m€1.2m=
Cash at bank and in hand54/58€194,898€255,117▲
Deferred charges and accrued income490/1€0-
Equity and liabilities
Total equity and liabilities10/49€2.2m€2.2m▲
Equity10/15€1.7m€1.7m▲
Contributions10/11€691,748€691,748=
Revaluation surpluses12€7,500€7,500=
Reserves13€1.0m€1.0m▲
Distributable reserves133€1.0m€1.0m▲
Amounts payable17/49€459,198€460,307▲
Amounts payable after more than one year17€410,000€410,000=
Financial debts170/4€410,000€410,000=
Amounts payable within one year42/48€49,198€50,307▲
Trade debts44€10,322€2,363▼
Suppliers440/4€10,322€2,363▼
Taxes, remuneration and social security45€11,150€7,303▼
Taxes450/3€11,150€7,303▼
Other amounts payable47/48€27,727€40,642▲
Accrued charges and deferred income492/3€0-
Income statement Code20242025
Non-recurring operating income76A€771,168€0▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€15,726€19,517▲
Other operating charges640/8€21,949€10,671▼
Non-recurring operating charges66A-€940
Gross operating margin9900€838,659€72,614▼
Operating profit (loss)9901€800,983€41,486▼
Financial charges65/66B€18,524€18,525=
Recurring financial charges65€18,524€18,525=
Profit (loss) for the period before taxes9903€782,460€22,961▼
Income taxes67/77€195,615€5,768▼
Profit (loss) for the period9904€586,845€17,193▼
Profit (loss) for the period to be appropriated9905€586,845€17,193▼
Appropriation of the result
Profit (loss) to be appropriated9906€586,845€17,193▼
Profit (loss) brought forward from the previous period14P€0-
Transfer to equity691/2€586,845€17,193▼
To other reserves6921€586,845€17,193▼
Social balance
Average headcount (FTE)9087-0.0

The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20212022202320242025Change
Non-recurring operating income76A---€771,168€0▼ 100%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€41,099€29,655€29,461€15,726€19,517▲ 24.1%
Other operating charges640/8€18,206€20,675€20,071€21,949€10,671▼ 51.4%
Non-recurring operating charges66A----€940-
Gross operating margin9900€135,789€145,486€159,885€838,659€72,614▼ 91.3%
Operating profit (loss)9901€76,484€95,156€110,353€800,983€41,486▼ 94.8%
Financial charges65/66B€25,058€22,665€21,500€18,524€18,525=
Recurring financial charges65€25,058€22,665€21,500€18,524€18,525=
Profit (loss) for the period before taxes9903€51,426€72,491€88,853€782,460€22,961▼ 97.1%
Income taxes67/77€16,304€23,035€22,393€195,615€5,768▼ 97.1%
Profit (loss) for the period9904€35,122€49,457€66,460€586,845€17,193▼ 97.1%
Profit (loss) for the period to be appropriated9905€35,122€49,457€66,460€586,845€17,193▼ 97.1%
Line20212022202320242025Change
Assets
Total assets20/58€1.6m€1.6m€1.6m€2.2m€2.2m▲ 0.8%
Fixed assets21/28€1.6m€1.6m€1.5m€822,426€800,145▼ 2.7%
Tangible fixed assets22/27€1.6m€1.6m€1.5m€822,426€800,145▼ 2.7%
Land and buildings22€1.6m€1.6m€1.5m€795,500€781,250▼ 1.8%
Plant, machinery and equipment23---€13,433€9,833▼ 26.8%
Furniture and vehicles24€2,152€1,174€388€13,494€9,062▼ 32.8%
Financial fixed assets28€97-----
Current assets29/58€35,330€64,646€39,979€1.4m€1.4m▲ 3.0%
Amounts receivable within one year40/41€11,969€6,942€3,500€1.2m€1.2m▼ 1.7%
Trade receivables40€11,969€6,942€3,500€19,636€0▼ 100%
Other amounts receivable41---€1.2m€1.2m=
Cash at bank and in hand54/58€23,361€56,486€35,239€194,898€255,117▲ 30.9%
Deferred charges and accrued income490/1-€1,218€1,240€0--
Equity and liabilities
Total equity and liabilities10/49€1.6m€1.6m€1.6m€2.2m€2.2m▲ 0.8%
Equity10/15€1.0m€1.1m€1.1m€1.7m€1.7m▲ 1.0%
Contributions10/11€691,748€691,748€691,748€691,748€691,748=
Revaluation surpluses12€7,500€7,500€7,500€7,500€7,500=
Reserves13€320,191€369,648€441,669€1.0m€1.0m▲ 1.7%
Non-distributable reserves130/1€11,816€11,816€0---
Reserves not available under the articles1311€11,816€11,816€0---
Distributable reserves133€308,376€357,832€441,669€1.0m€1.0m▲ 1.7%
Profit (loss) carried forward14€5,561€5,561€0---
Amounts payable17/49€608,514€558,622€438,033€459,198€460,307▲ 0.2%
Amounts payable after more than one year17€516,678€480,000€410,000€410,000€410,000=
Financial debts170/4€516,678€480,000€410,000€410,000€410,000=
Amounts payable within one year42/48€91,396€59,653€27,593€49,198€50,307▲ 2.3%
Current portion of amounts payable after more than one year42€73,334€36,678€0---
Trade debts44€122€6,340€41€10,322€2,363▼ 77.1%
Suppliers440/4€122€6,340€41€10,322€2,363▼ 77.1%
Taxes, remuneration and social security45€12,820€11,515€12,741€11,150€7,303▼ 34.5%
Taxes450/3€12,820€11,515€12,741€11,150€7,303▼ 34.5%
Other amounts payable47/48€5,120€5,120€14,812€27,727€40,642▲ 46.6%
Accrued charges and deferred income492/3€440€18,969€440€0--
Line20212022202320242025Change
Profit (loss) for the period9904€35,122€49,457€66,460€586,845€17,193▼ 97.1%
+ Depreciation and write-downs630€41,099€29,655€29,461€15,726€19,517▲ 24.1%
Operating cash flow (approximation)€76,222€79,111€95,921€602,571€36,710▼ 93.9%
Investment in fixed assets (approximation)-€97€0€700,818€2,764▼ 99.6%
Change in cash-€33,125-€21,247€159,659€60,219▼ 62.3%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

Download as CSV

Timeline · acts, filings and financial milestones

Next filing, fiscal year 2026, expected by 31-07-2027
2026
20-08
NBB filing Annual accounts filed
fiscal year 2025 · abbreviated schema · 20 days late
2025
31-12
Financial Weakest financial yearnet €17,193 ▼97.1%
Net result drops to €17,193, the lowest in the series.
10-07
NBB filing Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial Highest result since 2018net €586,845 ▲783%
Operating result €800,983, net result €586,845, both a record.
31-12
Financial Liquidity times 19current ratio 27.74
Current ratio from 1.45 to 27.74.
20-08
NBB filing Annual accounts filed
fiscal year 2023 · micro schema · 20 days late
2023
30-08
NBB filing Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
2022
31-12
Financial Liquidity triplescurrent ratio 1.08
Current ratio from 0.39 to 1.08; short-term debt falls from €91,396 to €59,653.
31-08
NBB filing Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
31-12
Financial Equity above €1mEq €1.0m ▲3.5%
4 profitable years in a row build equity to €1.0m.
06-04
NBB filing Annual accounts filed
fiscal year 2020 · micro schema
2020
11-06
NBB filing Annual accounts filed
fiscal year 2019 · micro schema
Show earlier events
2019
15-07
NBB filing Annual accounts filed
fiscal year 2018 · micro schema
2018
18-06
NBB filing Annual accounts filed
fiscal year 2017 · micro schema
2017
31-08
NBB filing Annual accounts filed
fiscal year 2016 · micro schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 8 acts read
About the unread acts

We know of 8 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.

Have them read with priority Sign in to place this company at the front of the reading queue.

Directors · office · real estate

Directors
8 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, Brugge · 1 establishment unit since 1992
seat establishment The establishment unit on the map
Ground area
4,295 m²
Building footprint
597 m²
Volume, LiDAR
5,861 m³
2 parcels, Flanders · tallest building 16.6 m, ±4 floors. Linked by address, not a title deed.
2 companies at this address See who is registered here
1 establishment unit
BEDRIJVENKANTOOR JONCKHEERE
Koningin Astridlaan 134, 8200 BruggeFinancial service activities, except insurance and pension funding
since 19922.059.263.181
2 parcels
Flanders 2 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
31030A0280/00G000 Flanders 2,493 m² 1 · 165 m² 8.5 m · 2 fl.
31030A0168/00Z010 Flanders 1,802 m² 1 · 432 m² 16.6 m · 4 fl.
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.

Structure & network

Owners and holdings

1 owner

Owners 1

Holdings 0

No holding stated in the accounts, acts or LEI register we read.

According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.

Connections & network

No current directors or connected companies found in the register.

Similar companies · same sector, comparable size

Of 9,146 companies in sector 68201 we hold annual accounts for 6,770. 4,437 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
Founded01-10-1992
Fiscal year end31-12
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
E-invoicing
Not found in the Peppol register

No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.

What can you do?

Try sending from your invoicing software; if that fails, ask the customer whether they already receive via Peppol.

If the customer is not ready yet, you may send the invoice another way, for example as a PDF; if electronically, with their agreement on a secure alternative. That invoice is valid; the customer risks a penalty. FPS Finance

Register as of 27 September 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.