PRAGMAGORA
ActiveSummary
PRAGMAGORA has been active since 1984 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €147,171 and a net result of -€1,225. Equity is shrinking by ~3.1% per year across the filed fiscal years. Its solvency ranks better than 71% of 32629 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
What stands out
Overview
1 of 15 deeds read#6 oldest company in Chaudfontaine, Professional and technical services sectorAccounts 113 d earlyTurnover not published (abridged schema)
Why 89- Higher-failure-rate region+ Lower-failure-rate sector+ Long track recordLatest accounts filed on timeShow the evidence
Checked score
Score 2025
Axes · tick = 2024
Profitability68▼-27
Solvency100▲+22
Growth32=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €13,000 at 30 days acceptable
Liquidity ample (current ratio 3.28 against 1.86 in 2024; short-term debt: 24.5% and cash: 41.9% of total assets), and 24.5% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% 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 dateAge against the risk zone
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 09-04-2026, 113 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
113 d early
2024
125 d early
2023
120 d early
2022
96 d early
2021
41 d early
2020
124 d early
2019
4 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 89 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% 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. Usually files around 9 April (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
Financials
Fiscal year 2025Total assets €194,968Loss -€1,225Solvency 75.5%Liquidity 3.28
Total assets
€194,968▼ 30.9%
2018 - 2025
Net result
-€1,225
2018 - 2025
Equity
€147,171▼ 0.8%
2018 - 2025
Staff (FTE)
0.8▼ 20.0%
2018 - 2025
Financials · fiscal year 2025, micro schema
Trend over the years
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€108,627▲ 112%€71,776▼ 33.9%€91,230▲ 27.1%€84,436▼ 7.4%€4,447▼ 94.7%
Net result€77,912above the sector's middle half▲ 125%€50,339within the sector's middle half▼ 35.4%€64,392above the sector's middle half▲ 27.9%€58,663within the sector's middle half▼ 8.9%-€1,225below the sector's middle half
Equity€203,518within the sector's middle half▲ 9.7%€147,822within the sector's middle half▼ 27.4%€149,734within the sector's middle half▲ 1.3%€148,397within the sector's middle half▼ 0.9%€147,171within the sector's middle half▼ 0.8%
Total assets€305,015within the sector's middle half▼ 10.3%€373,333within the sector's middle half▲ 22.4%€266,269within the sector's middle half▼ 28.7%€281,972within the sector's middle half▲ 5.9%€194,968within the sector's middle half▼ 30.9%
Debt€101,497▼ 34.3%€225,511▲ 122%€116,535▼ 48.3%€133,575▲ 14.6%€47,797▼ 64.2%
Working capital€193,411above the sector's middle half▼ 2.4%€189,455above the sector's middle half▼ 2.0%€76,069within the sector's middle half▼ 59.8%€104,484within the sector's middle half▲ 37.4%€109,117within the sector's middle half▲ 4.4%
Solvency66.7%within the sector's middle half▲ 12.1pp39.6%within the sector's middle half▼ 27.1pp56.2%within the sector's middle half▲ 16.6pp52.6%within the sector's middle half▼ 3.6pp75.5%within the sector's middle half▲ 22.9pp
Current ratio2.91within the sector's middle half▲ 0.442.13within the sector's middle half▼ 0.781.65within the sector's middle half▼ 0.481.86within the sector's middle half▲ 0.213.28within the sector's middle half▲ 1.42
Return on assets (ROA)25.5%within the sector's middle half▲ 15.3pp13.5%within the sector's middle half▼ 12.1pp24.2%within the sector's middle half▲ 10.7pp20.8%within the sector's middle half▼ 3.4pp-0.6%below the sector's middle half▼ 21.4pp
Staff (FTE)1=1=1=1=0.8▼ 20.0%
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result and balance sheet
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 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 €194,968
Fixed assets
€38,054 ▼ 32.6%
Current assets
€156,914 ▼ 30.4%
Equity and liabilities €194,968
Equity
€147,171 ▼ 0.8%
Debt
€47,797 ▼ 64.2%
Debt's share of the balance-sheet total falls from 47.4% to 24.5%. Equity and debt are lower.
Key figures and ratios
Key figures and ratios
EBITDA
€21,613▼
2024 · €103,094
Cash flow
€15,941▼
2024 · €77,321
Debt to equity
0.32▼
2024 · 0.90
ROE
-0.8%▼
2024 · 39.5%
Interest coverage
10.12▼
2024 · 37.59
Debt ≤ 1 year
€47,797▼
2024 · €121,068
Income taxes
€4,011▼
2024 · €23,964
Staff costs
€69,315▼
2024 · €88,683
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 12,321 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 90% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
0.7%
went bankrupt
8.6%
stopped otherwise
90%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.1% 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 497,341 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
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 12,321 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.
Filed annual accounts
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €77,096 | €80,181 | €88,505 | €88,683 | €69,315 | ▼ 21.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,853 | €4,846 | €10,692 | €18,658 | €17,166 | ▼ 8.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | -€5,328 | -€8,047 | -€8,016 | -€5,906 | -€7,374 | ▼ 24.9% |
| Other operating charges640/8 | €2,211 | €2,966 | €1,232 | €1,695 | €1,496 | ▼ 11.7% |
| Gross operating margin9900 | €186,460 | €151,722 | €183,645 | €187,566 | €85,050 | ▼ 54.7% |
| Operating profit (loss)9901 | €108,627 | €71,776 | €91,230 | €84,436 | €4,447 | ▼ 94.7% |
| Financial income75/76B | €1,219 | €1,206 | - | €934 | €475 | ▼ 49.1% |
| Recurring financial income75 | €1,219 | €1,206 | - | €934 | €475 | ▼ 49.1% |
| Financial charges65/66B | €2,409 | €2,464 | €2,423 | €2,743 | €2,136 | ▼ 22.1% |
| Recurring financial charges65 | €2,409 | €2,464 | €2,423 | €2,743 | €2,136 | ▼ 22.1% |
| Profit (loss) for the period before taxes9903 | €107,437 | €70,519 | €88,807 | €82,627 | €2,786 | ▼ 96.6% |
| Income taxes67/77 | €29,525 | €20,180 | €24,416 | €23,964 | €4,011 | ▼ 83.3% |
| Profit (loss) for the period9904 | €77,912 | €50,339 | €64,392 | €58,663 | -€1,225 | ▼ 102% |
| Profit (loss) for the period to be appropriated9905 | €77,912 | €50,339 | €64,392 | €58,663 | -€1,225 | ▼ 102% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €305,015 | €373,333 | €266,269 | €281,972 | €194,968 | ▼ 30.9% |
| Fixed assets21/28 | €10,107 | €15,930 | €73,665 | €56,420 | €38,054 | ▼ 32.6% |
| Intangible fixed assets21 | €1,266 | €633 | - | - | - | - |
| Tangible fixed assets22/27 | €8,015 | €12,070 | €70,439 | €54,020 | €36,854 | ▼ 31.8% |
| Furniture and vehicles24 | €6,178 | €12,070 | €70,439 | €54,020 | €36,854 | ▼ 31.8% |
| Other tangible fixed assets26 | €1,836 | - | - | - | - | - |
| Financial fixed assets28 | €826 | €3,226 | €3,226 | €2,400 | €1,200 | ▼ 50.0% |
| Current assets29/58 | €294,908 | €357,403 | €192,603 | €225,552 | €156,914 | ▼ 30.4% |
| Amounts receivable within one year40/41 | €80,401 | €131,777 | €38,145 | €37,235 | €48,551 | ▲ 30.4% |
| Trade receivables40 | €45,612 | €94,243 | €35,061 | €28,027 | €29,420 | ▲ 5.0% |
| Other amounts receivable41 | €34,789 | €37,535 | €3,084 | €9,207 | €19,131 | ▲ 108% |
| Current investments50/53 | - | - | €18,662 | €18,662 | €19,902 | ▲ 6.6% |
| Cash at bank and in hand54/58 | €208,198 | €219,946 | €128,729 | €159,787 | €81,671 | ▼ 48.9% |
| Deferred charges and accrued income490/1 | €6,310 | €5,680 | €7,067 | €9,869 | €6,790 | ▼ 31.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €305,015 | €373,333 | €266,269 | €281,972 | €194,968 | ▼ 30.9% |
| Equity10/15 | €203,518 | €147,822 | €149,734 | €148,397 | €147,171 | ▼ 0.8% |
| Contributions10/11 | €66,340 | €70,060 | €67,580 | €67,580 | €67,580 | = |
| Outside capital11 | - | - | - | - | €67,580 | - |
| Other1109/19 | - | - | - | - | €67,580 | - |
| Reserves13 | €77,762 | €77,762 | €77,762 | €77,762 | €79,002 | ▲ 1.6% |
| Non-distributable reserves130/1 | €6,634 | €6,634 | €18,662 | €18,662 | €19,902 | ▲ 6.6% |
| Reserves not available under the articles1311 | €6,634 | €6,634 | - | - | - | - |
| Own shares acquired1312 | - | - | €18,662 | €18,662 | €19,902 | ▲ 6.6% |
| Distributable reserves133 | €71,128 | €71,128 | €59,100 | €59,100 | €59,100 | = |
| Profit (loss) carried forward14 | €59,416 | - | €4,392 | €3,055 | €590 | ▼ 80.7% |
| Amounts payable17/49 | €101,497 | €225,511 | €116,535 | €133,575 | €47,797 | ▼ 64.2% |
| Amounts payable within one year42/48 | €101,497 | €167,949 | €116,535 | €121,068 | €47,797 | ▼ 60.5% |
| Trade debts44 | €12,405 | €19,768 | €8,397 | €672 | €7,848 | ▲ 1,069% |
| Suppliers440/4 | €12,405 | €19,768 | €8,397 | €672 | €7,848 | ▲ 1,069% |
| Taxes, remuneration and social security45 | €27,852 | €34,928 | €21,422 | €23,042 | €3,064 | ▼ 86.7% |
| Taxes450/3 | €15,587 | €21,058 | €9,489 | €11,734 | €3,064 | ▼ 73.9% |
| Remuneration and social security454/9 | €12,265 | €13,870 | €11,933 | €11,308 | - | - |
| Other amounts payable47/48 | €61,240 | €113,253 | €86,716 | €97,354 | €36,884 | ▼ 62.1% |
| Accrued charges and deferred income492/3 | - | €57,563 | - | €12,507 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €77,912 | €50,339 | €64,392 | €58,663 | -€1,225 | ▼ 102% |
| + Depreciation and write-downs630 | €3,853 | €4,846 | €10,692 | €18,658 | €17,166 | ▼ 8.0% |
| Operating cash flow (approximation) | €81,765 | €55,185 | €75,084 | €77,321 | €15,941 | ▼ 79.4% |
| Investment in fixed assets (approximation) | - | -€10,669 | -€68,428 | -€1,413 | €1,200 | ▲ 185% |
| Change in cash | - | €11,748 | -€91,217 | €31,058 | -€78,116 | ▼ 352% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
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LEGATUS
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VHTH CONSULT
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CADENA CONSULTING
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Of 82,601 companies in this sector we hold annual accounts for 52,629. 40,858 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Board & ownership
Directors
Directors
1 office holder, last change in 2026
Day-to-day management 1
Jean-François LEROY
CurrentManaging director · since 23-06-2026
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
14 of this company's 15 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Mandate history
2 people since 2026, 1 in office
- Board
- Day-to-day management
- began earlier
| Name | Functions and periods |
|---|---|
| Jean-François LEROY |
|
| Akil TALMANT |
|
Structure & network
Connections & network
1 office holderThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
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Click a node to look further, drag to arrange, scroll to zoom.
Timeline
14 eventsLatest 10-07-2026Next filing 31-07-2027
History
Acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
10-07
State Gazette act
Appointment: Jean-François LEROY (managing director)Resignation: Akil TALMANT (director)4 facts ▸
State Gazette act
Appointment: Jean-François LEROY (managing director)
Resignation: Akil TALMANT (director)4 facts ▸
- General meeting, 23-06-2026
- Director appointment, Jean-François LEROY (managing director)
- General meeting, 23-06-2026
- Director resignation, Akil TALMANT (director)
09-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet -€1,225
Net result drops to -€1,225, the lowest in the series.
28-03
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
02-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
26-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
20-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Equity above €200,000Eq €203,518 ▲9.7%
4 profitable years in a row build equity to €203,518.
29-03
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
27-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Highest result since 2018net €108,573 ▲61.4%
Operating result €165,137, net result €108,573, both a record.
19-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
26-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
23-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 15 acts read
About the unread acts
Of the 15 Belgian State Gazette acts we know for this company, 1 has been read. The other 14 have not been read yet: what they contain is neither established nor disproved here.
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Company details
Private limited company · founded 22-06-1984Year ends 31-12Peppol reachable1 site
Register details
Identification
Legal formPrivate limited company
Founded22-06-1984
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0425947487
Also
9925:BE0425947487
Registered
19-01-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Sites & property
Location & real-estate footprint
Registered office, Chaudfontaine · 1 establishment unit since 1984
Ground area
1,481 m²
Building footprint
592 m²
Volume, LiDAR
603 m³
2 parcels, Wallonia · tallest building 8.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Pragmagora
since 1984unit no. 2.024.920.728
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62104D0325/00K003 | Wallonia | 910 m² | 1 · 94 m² | 8.0 m · 2 fl. |
| 62009C0959/00A000 | Wallonia | 571 m² | 1 · 499 m² | - |
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.
Go further with this company
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