Equity
Debts exceed assets in financial year 2025.
Debts exceed assets in financial year 2025.
Every financial year from 2022 to 2025 closed with a loss. 2022 was the heaviest.
The micro format states no turnover.
Of this, €331,160 falls due within a year.
The last five annual accounts were filed 1 to 33 days before the end of the period.
Less equity than 95% of companies in computer programming and consultancy. Sector median €68,850 · 22,046 companies.
In July 2024, 1,215 companies had the same profile as Pushpull has now. Each dot stands for 4 companies, two years later.
Another 0.7% stopped without a precise date, possibly only after those two years.
The method was tested on the 497,331 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 | 2.9% | 3.1% |
| 10 | 5.6% | 6.1% |
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 1,215 companies, not a prediction for Pushpull. 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.
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.
| Company | ||||
|---|---|---|---|---|
| Pushpull Lokeren | €876,952 | €83,722 | -6.9% | - |
| CONNECT CONSULTANCY SERVICES Lokeren | €930,362 | €85,929 | 14.5% | - |
| SIDEWAY Leuven | €906,423 | €90,291 | 18.6% | - |
| Nilsof Aalst | €695,488 | €91,877 | 90.1% | - |
| SCIOLAN Haaltert | €658,582 | €73,462 | 42.6% | - |
| decizyon Brussels | €655,443 | €85,079 | 59.7% | - |
| iLEVEL Brecht | €837,752 | €69,047 | 69.5% | - |
These companies have the same main activity as Pushpull: other information technology and computer services (NACE 62900). They are comparable in size and age: total assets between €655,000 and €930,000, founded between 2011 and 2014.
Pushpull files the micro format. That format states no turnover. The gross margin rose from €80,314 in 2016 to €83,722 in 2025.
The balance sheet grew most from 2017 to 2018 through fixed assets, financed with long-term debt.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €170,000. Estimated: probably between €140,000 and €210,000.
Higher than 9% of 22,039 companies in 2025.
Lower than 95% of 21,339 companies in 2025.
Higher than 15% of 21,530 companies in 2025.
Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: top quarter · Working capital: bottom quarter
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||
20/58 |
876,952 | 925,555 | 965,889 | 1.0m | 888,052 | 872,499 | 871,243 | 922,375 | 475,366 | 426,958 | |
21/28 |
823,596 | 890,707 | 911,059 | 934,979 | 846,650 | 853,442 | 850,527 | 873,117 | 434,101 | 365,970 | |
22/27 |
823,596 | 890,707 | 911,059 | 934,979 | 846,650 | 853,442 | 850,527 | 873,117 | 434,101 | 365,970 | |
22 |
779,245 | 834,048 | 894,223 | 920,413 | 832,584 | 850,027 | 846,873 | 870,045 | 430,502 | 364,677 | |
23 |
11,170 | 14,846 | 14,045 | 10,575 | 8,875 | 3,415 | 3,654 | 3,072 | 3,598 | 1,293 | |
24 |
15,348 | 18,450 | 2,791 | 3,991 | 5,191 | - | - | - | - | - | |
26 |
17,833 | 23,364 | - | - | - | - | - | - | - | - | |
29/58 |
53,356 | 34,847 | 54,830 | 101,906 | 41,402 | 19,056 | 20,716 | 49,258 | 41,265 | 60,988 | |
40/41 |
49,502 | 25,453 | 23,991 | 93,295 | 30,160 | 10,109 | 16,295 | 33,876 | 32,875 | 19,364 | |
40 |
49,059 | 24,056 | 23,834 | 83,722 | 27,440 | 10,109 | 13,915 | 30,425 | 30,250 | 19,179 | |
41 |
443 | 1,397 | 157 | 9,573 | 2,720 | - | 2,380 | 3,451 | 2,625 | 185 | |
54/58 |
1,464 | 2,982 | 4,530 | 3,019 | 6,444 | 3,408 | 2,373 | 14,427 | 8,390 | 41,624 | |
490/1 |
2,389 | 6,412 | 26,310 | 5,592 | 4,798 | 5,539 | 2,048 | 955 | - | - | |
| Balance sheet: equity and liabilities | |||||||||||
10/49 |
876,952 | 925,555 | 965,889 | 1.0m | 888,052 | 872,499 | 871,243 | 922,375 | 475,366 | 426,958 | |
10/15 |
-60,559 | -43,035 | -32,379 | -7,210 | 18,482 | 403 | 17,334 | 21,242 | 29,243 | 20,593 | |
10/11 |
6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | - | - | 12,400 | 12,400 | 12,400 | 12,400 | |
13 |
1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | |
130/1 |
1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | - | - | - | - | |
130 |
- | - | - | - | - | - | 1,860 | 1,860 | 1,860 | 1,860 | |
1311 |
1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | - | - | - | - | |
14 |
-68,619 | -51,095 | -40,439 | -15,270 | 10,422 | -7,657 | 9,274 | 13,182 | 21,183 | 12,533 | |
17/49 |
937,511 | 968,590 | 998,269 | 1.0m | 869,570 | 872,096 | 853,909 | 901,133 | 446,123 | 406,365 | |
17 |
606,351 | 663,518 | 684,676 | 727,891 | 770,030 | 811,305 | 673,072 | 705,028 | 383,158 | 350,702 | |
170/4 |
606,351 | 663,518 | 684,676 | 727,891 | 770,030 | 811,305 | 673,072 | 705,028 | 383,158 | 350,702 | |
42/48 |
331,160 | 305,072 | 303,593 | 316,204 | 99,541 | 60,791 | 180,837 | 183,605 | 62,965 | 55,663 | |
42 |
51,653 | 44,846 | 43,948 | 43,293 | 42,522 | 42,427 | 31,956 | 31,347 | 15,766 | 15,475 | |
43 |
- | - | - | 5,851 | - | - | - | - | - | - | |
430/8 |
- | - | - | 5,851 | - | - | - | - | - | - | |
44 |
5,761 | 4,375 | 4,760 | 67,806 | 4,861 | 10,471 | 2,227 | 10,860 | 3,479 | 4,623 | |
440/4 |
5,761 | 4,375 | 4,760 | 67,806 | 4,861 | 10,471 | 2,227 | 10,860 | 3,479 | 4,623 | |
45 |
13,687 | 2,315 | 4,704 | 9,632 | 4,141 | 1,783 | 5,441 | 202 | 11,647 | 15,046 | |
450/3 |
12,037 | 665 | 4,704 | 9,632 | 4,141 | 1,783 | 3,816 | 202 | 11,647 | 15,046 | |
454/9 |
1,650 | 1,650 | - | - | - | - | 1,625 | - | - | - | |
47/48 |
260,060 | 253,536 | 250,181 | 189,622 | 48,017 | 6,109 | 141,212 | 141,196 | 32,073 | 20,520 | |
492/3 |
- | - | 10,000 | - | - | - | - | 12,500 | - | - | |
| Income statement | |||||||||||
76A |
- | 2,013 | - | - | - | - | - | - | - | - | |
9900 |
83,722 | 83,210 | 60,976 | 50,390 | 91,651 | 46,157 | 56,134 | 47,805 | 36,636 | 80,314 | |
630 |
79,389 | 75,565 | 68,684 | 57,593 | 49,635 | 43,774 | 43,152 | 40,957 | 11,620 | 49,486 | |
640/8 |
10,930 | 6,565 | 6,276 | 5,597 | 6,012 | 5,433 | 2,131 | 1,957 | 1,877 | 3,047 | |
66A |
- | 248 | - | - | - | - | - | - | - | - | |
9901 |
-6,597 | 832 | -13,985 | -12,800 | 36,005 | -3,050 | 10,851 | 4,892 | 23,139 | 27,781 | |
75/76B |
85 | 15 | 90 | 143 | 0 | 33 | 10 | 1,711 | 537 | 0 | |
75 |
85 | 15 | 90 | 143 | 0 | 33 | 10 | 1,711 | 537 | 0 | |
65/66B |
10,850 | 11,331 | 11,391 | 12,494 | 12,646 | 13,535 | 13,899 | 14,190 | 8,155 | 2,633 | |
65 |
10,850 | 11,331 | 11,391 | 12,494 | 12,646 | 13,535 | 13,899 | 14,190 | 8,155 | 2,633 | |
9903 |
-17,362 | -10,484 | -25,285 | -25,151 | 23,358 | -16,552 | -3,038 | -7,587 | 15,521 | 25,148 | |
67/77 |
162 | 172 | -116 | 540 | 5,279 | 354 | 844 | 414 | 6,871 | 10,755 | |
9904 |
-17,524 | -10,656 | -25,169 | -25,692 | 18,079 | -16,932 | -3,907 | -8,001 | 8,650 | 14,393 | |
9905 |
-17,524 | -10,656 | -25,169 | -25,692 | 18,079 | -16,932 | -3,907 | -8,001 | 8,650 | 14,393 | |
| Appropriation of the result | |||||||||||
9906 |
-68,619 | -51,095 | -40,439 | -15,270 | 10,422 | -7,657 | 9,274 | 13,182 | 21,183 | 14,393 | |
14P |
-51,095 | -40,439 | -15,270 | 10,422 | - | - | - | - | - | - | |
691/2 |
- | - | - | - | - | - | - | - | - | 1,860 | |
6920 |
- | - | - | - | - | - | - | - | - | 1,860 | |
| Document | |||||||||||
The notes to these accounts have 7 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 29-04-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | micro format | 29-04-2026 | 2026-00093350 | |
| 30-09-2024 | micro format | 26-04-2025 | 2025-00076662 | |
| 30-09-2023 | micro format | 29-04-2024 | 2024-00072582 | |
| 30-09-2022 | micro format | 27-04-2023 | 2023-00068285 | |
| 30-09-2021 | micro format | 28-03-2022 | 2022-08800338 | |
| 30-09-2020 | micro format | 29-04-2021 | 2021-13300571 | |
| 30-09-2019 | micro format | 28-04-2020 | 2020-10800601 | |
| 30-09-2018 | micro format | 30-04-2019 | 2019-11500190 | |
| 30-09-2017 | micro format | 27-04-2018 | 2018-11500024 | |
| 30-09-2016 | abbreviated format | 26-04-2017 | 2017-10200508 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 72,792 | 76,397 | 54,700 | 44,793 | 85,639 | 40,724 | 54,003 | 45,848 | 34,759 | 77,267 | ||
| 61,865 | 64,909 | 43,515 | 31,902 | 67,714 | 26,842 | 39,244 | 32,956 | 20,270 | 63,879 | ||
| 12,278 | 72,871 | 44,764 | 145,923 | 42,842 | 46,689 | 20,562 | 479,973 | 79,751 | 394,225 | ||
| -1,518 | -1,548 | 1,511 | -3,425 | 3,035 | 1,035 | -12,054 | 6,037 | -33,234 | - | ||
| -277,804 | -270,224 | -248,763 | -214,298 | -58,138 | -41,735 | -160,121 | -134,347 | -21,700 | 5,325 | ||
| -6.9% | -4.6% | -3.4% | -0.7% | 2.1% | 0.0% | 2.0% | 2.3% | 6.2% | 4.8% | ||
| 0.16 | 0.11 | 0.18 | 0.32 | 0.42 | 0.31 | 0.11 | 0.27 | 0.66 | 1.10 | ||
| - | - | - | - | 47.05 | - | 49.26 | 42.42 | 15.26 | 19.73 | ||
| - | - | - | - | 97.8% | - | -22.5% | -37.7% | 29.6% | 69.9% | ||
| -2.0% | -1.2% | -2.6% | -2.5% | 2.0% | -1.9% | -0.4% | -0.9% | 1.8% | 3.4% | ||
| 6.71 | 6.74 | 4.80 | 3.59 | - | - | - | - | - | - |
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 30-09-2025 | 30-09-2024 | 30-09-2023 | 30-09-2022 |
|---|---|---|---|---|
| Tangible fixed assets | €12,278 | €72,871 | €44,764 | €145,923 |
| €79,389 | €75,565 | €68,684 | €57,593 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a loss of €6,597, after a profit of €832 in 2024.
Equity is negative. Debt (€937,511) exceeds the balance-sheet total (€876,952).
Pushpull has no parent and no holdings in its annual accounts. is the only director. Pushpull shares no director with another company.
| Patine legal
registered office since 03-07-2026 |
founded in 2026 1039.841.681 |
Deadline for the 2026 accounts: 30-04-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Heiendestraat 47 registered office 9160 Lokeren 73300 Public relations and communication consultancy | 09-12-2014 | 2.237.993.797 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 46384C0679/00S000 | 1,871 m² | 1 · 138 m² | 9.9 m · 2 |
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