PN Construct
ActiveSummary
PN Construct has been active since 2022 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €6,034 and a net result of -€3,016. Equity has been shrinking by about 52% per year since 2022. Its solvency ranks better than 16% of 39,275 sector peers (NACE 70, financial year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 29-03-2022 Normal situation
- Activity
- Business and other management consultancy NACE 70200and 1 other
- Establishment unit
- 2.330.354.427 3472 Kortenaken, since 29-03-2022
- Financial year end
- 31 December
- Peppol
- Reachable
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.2%
Annual accounts 2025
- Gross margin
- €12,378
- Turnover
- ≈ €58,000
- estimated
- Loss
- €3,016
- ▼ 83.1%
- Equity
- €6,034
- ▼ 33.3%
- Total assets
- €60,941
- ▼ 12.4%
Score breakdownraises riskEquity €6,034 (9.9% of total assets)Founded in 2022lowers riskSector: Activities of head offices; management consultancy activities (NACE 70)Size: total assets €60,941Show the evidence
Checked score
Score 2025
84
/ 100
Excellent
Probability in this band: under 0.55%
Financially stronger than 17% of micro companies in head offices and management consultancy (NACE 70)
Financial strength · tick: 2024
Weak
Solvency
35-3
equity 9.9% of total assets
Liquidity
13-8
short-term debt 89.4% · cash 10.1%
Profitability
63+63
return on assets -4.9%
Bankruptcy probability within 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.2%
01-2025: 0.2%● unchanged vs 12-2024lowest value
02-2025: 0.2%● unchanged vs 01-2025lowest value
03-2025: 0.2%● unchanged vs 02-2025
04-2025: 0.2%● unchanged vs 03-2025
05-2025: 0.2%● unchanged vs 04-2025
06-2025: 0.2%● unchanged vs 05-2025
07-2025: 0.2%● unchanged vs 06-2025
08-2025: 0.3%▲ +0.1 percentage points vs 07-2025highest value
09-2025: 0.3%● unchanged vs 08-2025highest value
10-2025: 0.3%● unchanged vs 09-2025highest value
11-2025: 0.3%● unchanged vs 10-2025highest value
12-2025: 0.3%● unchanged vs 11-2025
01-2026: 0.3%● unchanged vs 12-2025
02-2026: 0.3%● unchanged vs 01-2026
03-2026: 0.3%● unchanged vs 02-2026
04-2026: 0.3%● unchanged vs 03-2026
05-2026: 0.3%● unchanged vs 04-2026
06-2026: 0.3%● unchanged vs 05-2026
07-2026: 0.3%● unchanged vs 06-2026
08-2026: 0.2%▼ -0.1 percentage points vs 07-2026
09-2026: 0.2%● unchanged vs 08-2026
10-2026: 0.2%● unchanged vs 09-2026
11-2026: 0.2%● unchanged vs 10-2026
Credit of up to €500 on 30-day terms is acceptable
Liquidity is insufficient, with a current ratio of 0.73 (0.7 in 2024), below 1. Short-term debt is 89.4% and cash 10.1% of total assets. 90.1% of the assets are financed with debt and provisions.
Calculation
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 70, micro). It does better than 17% of them on solvency, 6% on liquidity, 28% on profitability and 17% on growth.
The bankruptcy probability was computed on 03-11-2026 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.
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).
Credit check for an amount and term of your choice
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.
Signals
Seven signals.
lowers riskraises riskneutral
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 -€3,016
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 16% of 39275 sector peers (2025).
NBB · sector comparisonPosition among 39275 sector peers
Solvency
better than 16%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 13-07-2026, 18 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
18 days early
2024
14 days early
2023
30 days late
2022
59 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 4 accounts on average 14 days after the deadline. In the sector (NACE 70), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 9 August (3 of the last 4 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
04-11-2026 today31-12-2026 year end31-07-2027 deadline
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 13-07-2026 at the NBB all 4 filings
Turnover
≈ €58,000
Estimated: probably between €28,000 and €120,000
Total assets
€60,941▼ 12.4%
2024 · €69,561
Net result
-€3,016▲ 83.1%
2024 · -€17,822
Working capital
-€14,986▲ 5.9%
2024 · -€15,932
Multi-year overview
2022 to 2025, 4 financial yearsOperating result
-€1,865
▲ 88.1%
2025
20222025
Net result
-€3,016
▲ 83.1%
2025
lowest quarter of the sector
20222025
Equity
€6,034
▼ 33.3%
2025
lowest quarter of the sector
20222025
Total assets
€60,941
▼ 12.4%
2025
lowest quarter of the sector
20222025
Debt
€54,907
▼ 9.3%
2025
20222025
Working capital
-€14,986
▲ 5.9%
2025
lowest quarter of the sector
20222025
Solvency
9.9%
▼ 3.1pp
2025
lowest quarter of the sector
20222025
Current ratio
0.73
▲ 0.03
2025
lowest quarter of the sector
20222025
Return on assets (ROA)
-4.9%
▲ 20.7pp
2025
lowest quarter of the sector
20222025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2022202320242025
Operating result€68,106--€26,189-€15,679▲ 40.1%-€1,865▲ 88.1%
Net result€53,616within the sector's middle half--€28,945below the sector's middle half-€17,822below the sector's middle half▲ 38.4%-€3,016below the sector's middle half▲ 83.1%
Equity€55,816within the sector's middle half-€26,872within the sector's middle half▼ 51.9%€9,050below the sector's middle half▼ 66.3%€6,034below the sector's middle half▼ 33.3%
Total assets€146,781within the sector's middle half-€76,093below the sector's middle half▼ 48.2%€69,561below the sector's middle half▼ 8.6%€60,941below the sector's middle half▼ 12.4%
Debt€90,965-€49,221▼ 45.9%€60,512▲ 22.9%€54,907▼ 9.3%
Working capital€30,182within the sector's middle half--€797below the sector's middle half-€15,932below the sector's middle half▼ 1,899%-€14,986below the sector's middle half▲ 5.9%
Solvency38.0%within the sector's middle half-35.3%within the sector's middle half▼ 2.7pp13.0%below the sector's middle half▼ 22.3pp9.9%below the sector's middle half▼ 3.1pp
Current ratio1.51within the sector's middle half-0.97below the sector's middle half▼ 0.530.70below the sector's middle half▼ 0.280.73below the sector's middle half▲ 0.03
Return on assets (ROA)36.5%above the sector's middle half--38.0%below the sector's middle half▼ 74.6pp-25.6%below the sector's middle half▲ 12.4pp-4.9%below the sector's middle half▲ 20.7pp
above
within
below
The sector band is the middle half of the companies in Activities of head offices; management consultancy activities (NACE 70). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a loss of €1,865, smaller than the loss of €15,679 in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €60,941
Fixed assets
€21,428 ▼ 34.9%
Current assets
€39,513 ▲ 7.8%
Equity and liabilities €60,941
Equity
€6,034 ▼ 33.3%
Debt
€54,907 ▼ 9.3%
Debt's share of the balance-sheet total rises from 87.0% to 90.1%. Equity and debt are lower.
Key figures and ratios
EBITDA
€10,955▲
2024 · -€2,794
Cash flow
€9,804▲
2024 · -€4,937
Debt to equity
9.10▲
2024 · 6.69
ROE
-50.0%▲
2024 · -196.9%
Interest coverage
11.07▲
2024 · -1.41
Debt ≤ 1 year
€54,498▲
2024 · €52,599
Income taxes
€162▼
2024 · €163
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Tangible fixed assets | €61,433 | €1,349 | - | €1,353 |
| Depreciation and write-downs of the year | €4,201 | €12,801 | €12,885 | €12,820 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €32 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,201 | €12,801 | €12,885 | €12,820 | ▼ 0.5% |
| Other operating charges640/8 | €278 | €949 | €1,772 | €1,423 | ▼ 19.7% |
| Gross operating margin9900 | €72,585 | -€12,439 | -€1,022 | €12,378 | - |
| Operating profit (loss)9901 | €68,106 | -€26,189 | -€15,679 | -€1,865 | ▲ 88.1% |
| Financial income75/76B | - | - | €0 | €0 | ▲ 200% |
| Recurring financial income75 | - | - | €0 | €0 | ▲ 200% |
| Financial charges65/66B | €1,002 | €2,582 | €1,980 | €989 | ▼ 50.0% |
| Recurring financial charges65 | €1,002 | €2,582 | €1,980 | €989 | ▼ 50.0% |
| Profit (loss) for the period before taxes9903 | €67,104 | -€28,771 | -€17,659 | -€2,854 | ▲ 83.8% |
| Income taxes67/77 | €13,488 | €174 | €163 | €162 | ▼ 0.7% |
| Profit (loss) for the period9904 | €53,616 | -€28,945 | -€17,822 | -€3,016 | ▲ 83.1% |
| Profit (loss) for the period to be appropriated9905 | €53,616 | -€28,945 | -€17,822 | -€3,016 | ▲ 83.1% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €146,781 | €76,093 | €69,561 | €60,941 | ▼ 12.4% |
| Fixed assets21/28 | €57,232 | €45,780 | €32,895 | €21,428 | ▼ 34.9% |
| Tangible fixed assets22/27 | €57,232 | €45,780 | €32,895 | €21,428 | ▼ 34.9% |
| Plant, machinery and equipment23 | €2,757 | €1,729 | €888 | €84 | ▼ 90.6% |
| Furniture and vehicles24 | €54,475 | €44,051 | €32,007 | €21,344 | ▼ 33.3% |
| Current assets29/58 | €89,549 | €30,313 | €36,666 | €39,513 | ▲ 7.8% |
| Stocks and contracts in progress3 | €16,839 | - | - | - | - |
| Contracts in progress37 | €16,839 | - | - | - | - |
| Amounts receivable within one year40/41 | €19,934 | €12,089 | €29,469 | €27,725 | ▼ 5.9% |
| Trade receivables40 | €18,952 | €6,831 | €12,937 | €12,531 | ▼ 3.1% |
| Other amounts receivable41 | €982 | €5,258 | €16,532 | €15,194 | ▼ 8.1% |
| Cash at bank and in hand54/58 | €52,633 | €17,991 | €6,925 | €6,180 | ▼ 10.8% |
| Deferred charges and accrued income490/1 | €143 | €234 | €272 | €5,608 | ▲ 21× |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €146,781 | €76,093 | €69,561 | €60,941 | ▼ 12.4% |
| Equity10/15 | €55,816 | €26,872 | €9,050 | €6,034 | ▼ 33.3% |
| Contributions10/11 | €3,000 | €3,000 | €3,000 | €3,000 | = |
| Reserves13 | €52,816 | €52,817 | €52,817 | €52,817 | = |
| Distributable reserves133 | €52,816 | €52,817 | €52,817 | €52,817 | = |
| Profit (loss) carried forward14 | - | -€28,945 | -€46,767 | -€49,783 | ▼ 6.4% |
| Amounts payable17/49 | €90,965 | €49,221 | €60,512 | €54,907 | ▼ 9.3% |
| Amounts payable after more than one year17 | €29,728 | €18,111 | €7,242 | - | - |
| Financial debts170/4 | €29,728 | €18,111 | €7,242 | - | - |
| Amounts payable within one year42/48 | €59,367 | €31,110 | €52,599 | €54,498 | ▲ 3.6% |
| Current portion of amounts payable after more than one year42 | €10,546 | €11,617 | €11,617 | €7,242 | ▼ 37.7% |
| Trade debts44 | €9,280 | €1,825 | €191 | €7,106 | ▲ 37× |
| Suppliers440/4 | €9,032 | €1,825 | €191 | €7,106 | ▲ 37× |
| Bills of exchange payable441 | €248 | - | - | - | - |
| Advances received on contracts in progress46 | €18,150 | - | - | - | - |
| Taxes, remuneration and social security45 | €17,786 | €174 | - | €2,738 | - |
| Taxes450/3 | €15,738 | €174 | - | €2,738 | - |
| Remuneration and social security454/9 | €2,048 | - | - | - | - |
| Other amounts payable47/48 | €3,605 | €17,494 | €40,790 | €37,412 | ▼ 8.3% |
| Accrued charges and deferred income492/3 | €1,870 | - | €671 | €408 | ▼ 39.1% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €53,616 | -€28,945 | -€17,822 | -€3,016 | ▲ 83.1% |
| + Depreciation and write-downs630 | €4,201 | €12,801 | €12,885 | €12,820 | ▼ 0.5% |
| Operating cash flow (approximation) | €57,817 | -€16,144 | -€4,937 | €9,804 | - |
| Investment in fixed assets (approximation) | - | -€1,349 | €0 | -€1,353 | - |
| Change in cash | - | -€34,642 | -€11,065 | -€746 | ▲ 93.3% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 1,301 companies had the same profile as PN Construct has now. Two years later, 92.6% were still going and 5.5% had gone bankrupt.
- Micro
- 2 to 5 years old
- solvency under 10%
- a small loss
92.6%
was still going
1.6%
stopped otherwise
5.5%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of PN Construct itself is lower: 0.2% within 12 months. It rests on far more data about PN Construct than the profile alone.
Test of the method
The method was tested on the 497,446 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 1,301 companies, not a prediction for PN Construct. 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.
Board & ownership
Directors
Directors
1 director, no change since 2022
Peeters Niels Chris
Current
Director · appointed in the act of 31-03-2022 · term without a fixed end · listed in the 2025 annual accounts, filed on 13-07-2026
Signing authorityThe articles say who may bind the company, for example by signing a contract.
Each director alone
deed of 31-03-2022Owners and capital
Shareholders
At incorporation
act of 31-03-2022 ↗
- Peeters Niels Chris sole founder · 100% at incorporation
Capital transactions
Capital over time
- 31-03-2022 Incorporation · €3,000 · 200 shares
Articles of association
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “Met of zonder beperking van duur, 1”
Articles of association, deed of 31-03-2022 (in Dutch)
Network & group
PN Construct shares no director with another company.
Connections & network
1 current directorThe network starts from the directors of PN Construct. Every other company they run is a node.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Timeline
Acts, filings and financial milestones
Deadline for the 2026 accounts:
2026
13-07
micro format · 18 days before the deadline
2025
17-07
micro format · 14 days before the deadline
2024
30-08
micro format · 30 days late
2023
31-12
Financial
Weakest financial yearnet -€28,945
The net result drops to -€28,945, the lowest from 2022 to 2025. It recovers the following year.
28-09
micro format · 59 days late
2022
31-03
Gazette deed
IncorporationStarting capital €3,000 · Appointment: Peeters Niels Chris (director) · Founder7 points ▸
Gazette deed
Incorporation
Starting capital €3,000 · Appointment: Peeters Niels Chris (director) · Founder7 points ▸
- Incorporation, 29-03-2022
- Founder, Peeters Niels Chris (shareholder)
- Founding capital, €3,000
- Pre-incorporation commitments, “takeover, verbintenissen,verplichtingen en activiteiten in naam en voor rekening van vennootschap in oprichting” (deed in Dutch)
- Board rule, 1
- Director appointment, Peeters Niels Chris (director)
- Registered office clause, “3472 Kortenaken (Kersbeek-Miskom),Doddelbergstraat 6” (deed in Dutch)
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
PN Construct in Dutch
Enterprise number
0783.964.391
Legal form
Private limited company
Status
Active, normale toestand
Founded
29-03-2022
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 31-03-2022 (in Dutch)Name clauseThe company operates under this name according to its articles.
PN Construct
deed of 31-03-2022 (in Dutch)Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Vlaams Gewest”
deed of 31-03-2022 (in Dutch)Registered office and establishments
Registered office
Doddelbergstraat 6, 3472 Kortenaken, Belgium
Establishment unit
PN Construct, Doddelbergstraat 6, 3472 Kortenaken since 29-03-2022 · unit number 2.330.354.4277020001 Business and other management consultancy
Activities
NACEBEL 202570200
Business and other management consultancy main activity
82990
Other business support services
Codes under NACEBEL 2008
70220
Business consulting main activity
82990
Other business support services
PurposeThe purpose describes the activities the company may carry out under its articles.
deed of 31-03-2022 (in Dutch)
“Verlenen van adviezen en hulp aan het bedrijfsleven en de overheid op het gebied van planning,organisatie,efficiëntie en toezicht,het…”
11 activities
- Verlenen van adviezen en hulp aan het bedrijfsleven en de overheid op het gebied van planning,organisatie,efficiëntie en toezicht,het verschaffen van informatie aan de bedrijfsleiding,enz.
- Verlenen van advies op gebied van veiligheid,agronomie,milieu en op technische activiteiten;
- Berekenen van de kosten en baten van de voorgestelde maatregelen op het gebied van planning,organisatie,efficiëntie,enz.;
- Kostprijscalculatie;
- Algemene audit-activiteiten;
- Het geven en organiseren van onderwijs,workshops en seminarie in diverse domeinen;
- Overige zakelijke dienstverlening,n.e.g.;
- Het maken,ontwerpen en plaatsen van houtskeletbouw voor woningen,appartementen en andere onroerende goederen;
- Het bouwen en verbouwen van woningen,appartementen,handelsruimten en andere bouwprojecten;
- Het bouwen en uitvoeren van werken aan houten bijgebouwen en carports;
- Projectontwikkeling,in de ruimste zin van het woord.
Invoicing and payment
VAT number
BE 0783.964.391
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
First Tuesday of June at 20:00
deed of 31-03-2022 (in Dutch)Sites & property
Location