PSH
ActiveSummary
PSH has been active since 1994 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €324.3m and a net result of €323,005, of which €400,000 non-recurring income. Equity remains stable across the filed financial years (±0% per year). The computed 12-month bankruptcy probability is 0.1% (very low).
Financials · financial year 2025, abbreviated format, standalone accounts
Turnover
≈ €670,000
Estimated: probably between €400,000 and €1.1m
EBIT margin
Not included in this filing
Net result
€323,005
2024 · -€93,458
Working capital
€1.7m▲ 20.0%
2024 · €1.4m
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result returns to profit in 2025: €282,458 after a loss of €133,998 in 2024, the highest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€0.3m
2025
Net result€0.3m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€324.4m
2025
Equity€324.3m
2025
Debt€0.06m
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€1.7m
2025
Use the arrow keys on the chart for the figures per year.
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€0.03m--€0.1m▼ 323%-€0.1m▼ 2.8%-€0.1m▼ 11.5%-€0.2m▼ 37.3%-€0.2m▼ 4.7%-€0.1m▲ 30.4%€0.3m
Net result€0.01m--€0.09m-€0.1m▼ 39.1%-€0.1m▲ 8.2%€0.2m-€0.2m-€0.09m▲ 38.7%€0.3m
Equity€324.6m-€324.5m=€324.4m▼ 0.1%€324.2m=€324.4m▲ 0.1%€324.2m▼ 0.1%€324.1m=€324.3m▲ 0.1%
Total assets€324.7m-€324.5m=€324.4m=€324.3m=€324.4m▲ 0.1%€324.3m=€324.1m▼ 0.1%€324.4m▲ 0.1%
Debt€0.05m-€0.008m▼ 84.8%€0.04m▲ 418%€0.05m▲ 14.0%€0.04m▼ 12.3%€0.1m▲ 145%€0.04m▼ 59.2%€0.06m▲ 48.2%
Working capital€2.0m-€1.9m▼ 4.5%€1.7m▼ 8.6%€1.6m▼ 8.9%€1.7m▲ 10.6%€1.6m▼ 11.0%€1.4m▼ 8.6%€1.7m▲ 20.0%
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €324.4m
Fixed assets
€322.6m =
Current assets
€1.8m ▲ 20.8%
Equity and liabilities €324.4m
Equity
€324.3m ▲ 0.1%
Debt
€59,001 ▲ 48.2%
Debt's share of the balance-sheet total stays at 0.0%.
Key figures and ratios
Current ratio
29.81▼
2024 · 36.58
Debt to equity
0.00▲
2024 · 0.00
ROE
0.1%▲
2024 · 0.0%
ROA
0.1%▲
2024 · 0.0%
Debt ≤ 1 year
€59,001▲
2024 · €39,825
Income taxes
€0=
2024 · €0
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | - | €400,000 | - |
| Operating charges60/66A | - | - | - | €133,960 | - | - | - | - | - |
| Services and other goods61 | - | - | - | €133,960 | - | - | - | - | - |
| Other operating charges640/8 | - | - | - | - | €4,298 | - | €0 | €0 | = |
| Gross operating margin9900 | - | - | - | - | -€179,663 | -€192,627 | -€133,998 | €282,458 | - |
| Operating profit (loss)9901 | -€27,598 | -€116,870 | -€120,145 | -€133,960 | -€183,961 | -€192,627 | -€133,998 | €282,458 | - |
| Financial income75/76B | - | - | - | €28,112 | €409,503 | €40,631 | €41,023 | €41,023 | = |
| Recurring financial income75 | €37,483 | €28,107 | - | €28,112 | €52,208 | €40,631 | €41,023 | €41,023 | = |
| Income from financial fixed assets750 | - | - | - | €28,112 | - | - | - | - | - |
| Non-recurring financial income76B | - | - | - | - | €357,295 | - | - | - | - |
| Financial charges65/66B | - | - | - | €7,856 | €7,380 | €508 | €484 | €476 | ▼ 1.5% |
| Recurring financial charges65 | €304 | €315 | €3,721 | €7,856 | €7,380 | €508 | €484 | €476 | ▼ 1.5% |
| Debt charges650 | - | €19 | €3,265 | €7,206 | - | - | - | - | - |
| Other financial charges652/9 | - | - | - | €650 | - | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €9,581 | -€89,078 | -€123,866 | -€113,704 | €218,162 | -€152,504 | -€93,458 | €323,005 | - |
| Income taxes67/77 | - | - | - | - | - | €0 | €0 | €0 | - |
| Profit (loss) for the period9904 | €9,581 | -€89,078 | -€123,866 | -€113,704 | €218,162 | -€152,504 | -€93,458 | €323,005 | - |
| Profit (loss) for the period to be appropriated9905 | €9,581 | -€89,078 | -€123,866 | -€113,704 | €218,162 | -€152,504 | -€93,458 | €323,005 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €324.7m | €324.5m | €324.4m | €324.3m | €324.4m | €324.3m | €324.1m | €324.4m | ▲ 0.1% |
| Formation expenses20 | - | - | - | - | - | €0 | - | - | - |
| Fixed assets21/28 | €322.6m | €322.6m | €322.6m | €322.6m | €322.6m | €322.6m | €322.6m | €322.6m | = |
| Financial fixed assets28 | €322.6m | €322.6m | €322.6m | €322.6m | €322.6m | €322.6m | €322.6m | €322.6m | = |
| Affiliated companies280/1 | - | - | - | €322.6m | - | - | - | - | - |
| Participating interests280 | - | - | - | €322.6m | - | - | - | - | - |
| Current assets29/58 | €2.0m | €1.9m | €1.8m | €1.6m | €1.8m | €1.6m | €1.5m | €1.8m | ▲ 20.8% |
| Amounts receivable after more than one year29 | - | - | - | €0 | - | - | - | - | - |
| Other amounts receivable291 | - | - | - | €0 | - | - | - | - | - |
| Amounts receivable within one year40/41 | €148 | €0.002m | €0 | - | €0.02m | €0.04m | €0.02m | €0.02m | ▲ 0.5% |
| Other amounts receivable41 | - | - | - | - | €0.02m | €0.04m | €0.02m | €0.02m | ▲ 0.5% |
| Current investments50/53 | €0 | - | - | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €2.0m | €1.9m | €1.8m | €1.6m | €1.8m | €1.6m | €1.4m | €1.7m | ▲ 21.1% |
| Deferred charges and accrued income490/1 | - | - | - | - | €131 | €65 | - | €131 | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €324.7m | €324.5m | €324.4m | €324.3m | €324.4m | €324.3m | €324.1m | €324.4m | ▲ 0.1% |
| Equity10/15 | €324.6m | €324.5m | €324.4m | €324.2m | €324.4m | €324.2m | €324.1m | €324.3m | ▲ 0.1% |
| Contributions10/11 | €0.5m | €0.5m | - | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | = |
| Reserves13 | €323.5m | €323.5m | €323.5m | €323.5m | €323.5m | €323.5m | €323.5m | €323.5m | = |
| Non-distributable reserves130/1 | - | - | - | €323.5m | €323.5m | €323.5m | €323.5m | €323.5m | = |
| Reserves not available under the articles1311 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Other1319 | - | - | - | €323.4m | €323.4m | €323.4m | €323.4m | €323.4m | = |
| Profit (loss) carried forward14 | €0.6m | €0.5m | €0.4m | €0.2m | €0.4m | €0.2m | €0.08m | €0.4m | ▲ 372% |
| Amounts payable17/49 | €0.05m | €0.008m | €0.04m | €0.05m | €0.04m | €0.1m | €0.04m | €0.06m | ▲ 48.2% |
| Amounts payable within one year42/48 | €0.05m | €0.008m | €0.04m | €0.05m | €0.04m | €0.1m | €0.04m | €0.06m | ▲ 48.2% |
| Trade debts44 | €0.005m | €0.008m | - | €0.006m | - | €0.06m | - | €0.02m | - |
| Suppliers440/4 | - | - | - | €0.006m | - | €0.06m | - | €0.02m | - |
| Other amounts payable47/48 | - | - | - | €0.04m | €0.04m | €0.04m | €0.04m | €0.04m | = |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €9,581 | -€89,078 | -€123,866 | -€113,704 | €218,162 | -€152,504 | -€93,458 | €323,005 | - |
| Operating cash flow (approximation) | €9,581 | -€89,078 | -€123,866 | -€113,704 | €218,162 | -€152,504 | -€93,458 | €323,005 | - |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | -€11,177 | €0 | €0 | €0 | - |
| Change in cash | - | -€134,293 | -€129,226 | -€147,945 | €137,349 | -€146,736 | -€179,146 | €302,107 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 62 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | abbreviated format | 29-06-2026 | 2026-00243254 |
| 31-12-2025 | consolidated | 26-06-2026 | 2026-00226819 |
| 31-12-2024 | full format | 30-06-2025 | 2025-00219789 |
| 31-12-2024 | consolidated | 26-06-2025 | 2025-00220027 |
| 31-12-2023 | full format | 28-06-2024 | 2024-00207881 |
| 31-12-2023 | consolidated | 24-06-2024 | 2024-00180655 |
| 31-12-2022 | full format | 29-06-2023 | 2023-00194360 |
| 31-12-2022 | consolidated | 27-06-2023 | 2023-00185374 |
| 31-12-2021 | consolidated | 07-07-2022 | 2022-20180082 |
| 31-12-2021 | unclassified schema | 06-07-2022 | 2022-20165408 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.