PUVACO
ActiveSummary
PUVACO has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €23k and a net result of €-16k. Equity is shrinking by ~2.6% per year across the filed fiscal years. Its solvency ranks better than 66% of 4486 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2025
47
/ 100
Fair
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0▼-57
Solvency80▼-9
Growth32▼-20
Track record100
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1k at 30 days acceptable
Liquidity ample (current ratio 3.21 against 3.59 in 2024; short-term debt: 23.5% and cash: 2% of total assets), and 44.6% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 81
Relative position
BE, all sectors
reference
Sector 81
higher
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
55.4%
Return on assets
-39.7%
Age of the figures
9 mo
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
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
1819202122232425
2018 to 2025 · latest year €-16k
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 30-07-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
19 d late
2023
23 d late
2022
12 d early
2021
11 d early
2020
8 d early
2019
8 d early
← before the deadline
after the deadline →
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 monthsPosition in the running window
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€23k▼ 41.7%
2024 · €40k
2018: €29k
2019: €43k
2020: €53k
2021: €54k
2022: €53k
2023: €45k
2024: €40k
2018 → 2025
Total assets
€42k▼ 32.7%
2024 · €62k
2018: €68k
2019: €70k
2020: €149k
2021: €88k
2022: €85k
2023: €70k
2024: €62k
2018 → 2025
Net result
€-16k▼ 187%
2024 · €-6k
2018: €-435
2019: €13k
2020: €11k
2021: €801
2022: €-986
2023: €-8k
2024: €-6k
2018 → 2025
Working capital
€22k▼ 20.5%
2024 · €27k
2018: €27k
2019: €40k
2020: €-3k
2021: €393
2022: €18k
2023: €23k
2024: €27k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€54k-€53k▼ 1.8%€45k▼ 14.6%€40k▼ 12.7%€23k▼ 41.7%
Operating result€10k-€-1k€-7k▼ 506%€-5k▲ 26.6%€-16k▼ 223%
Net result€801-€-986€-8k▼ 682%€-6k▲ 25.5%€-16k▼ 187%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €16k in 2025 against €5k in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €42k
Fixed assets
€10k ▼ 57.8%
Current assets
€31k ▼ 16.7%
Equity and liabilities €42k
Equity
€23k ▼ 41.7%
Debt
€19k ▼ 16.7%
Debt's share of the balance-sheet total rises from 36.0% to 44.6%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-2k▼
2024 · €10k
Cash flow
€-3k▼
2024 · €9k
Current ratio
3.21▼
2024 · 3.59
Quick ratio
1.94▼
2024 · 2.55
Debt to equity
0.81▲
2024 · 0.56
ROE
-71.6%▼
2024 · -14.5%
ROA
-39.7%▼
2024 · -9.3%
Interest coverage
-3.81▼
2024 · 16.06
Debt ≤ 1 year
€10k▼
2024 · €10k
Debt > 1 year
€9k▼
2024 · €12k
Staff costs
€96▼
2024 · €25k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 42 lines
Balance sheet
Code20242025
Assets
Total assets20/58€62k€42k▼
Fixed assets21/28€24k€10k▼
Tangible fixed assets22/27€24k€10k▼
Land and buildings22€2k€2k▼
Plant, machinery and equipment23€19k€7k▼
Furniture and vehicles24€3k€991▼
Current assets29/58€38k€31k▼
Stocks and contracts in progress3€11k€12k▲
Stocks30/36€11k€12k▲
Amounts receivable within one year40/41€26k€18k▼
Trade receivables40€18k€3k▼
Other amounts receivable41€8k€15k▲
Cash at bank and in hand54/58€692€844▲
Equity and liabilities
Total equity and liabilities10/49€62k€42k▼
Equity10/15€40k€23k▼
Contributions10/11€20k€20k=
Reserves13€23k€23k=
Distributable reserves133€23k€23k=
Profit (loss) carried forward14€-3k€-19k▼
Amounts payable17/49€22k€19k▼
Amounts payable after more than one year17€12k€9k▼
Financial debts170/4€12k€9k▼
Amounts payable within one year42/48€10k€10k▼
Current portion of amounts payable after more than one year42€3k€3k▲
Trade debts44€3k€6k▲
Suppliers440/4€3k€6k▲
Taxes, remuneration and social security45€4k€1k▼
Taxes450/3€64€1k▲
Remuneration and social security454/9€4k-
Income statement
Code20242025
Remuneration, social security and pensions62€25k€96▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€15k€14k▼
Other operating charges640/8€1k€544▼
Gross operating margin9900€36k€-1k▼
Operating profit (loss)9901€-5k€-16k▼
Financial charges65/66B€622€529▼
Recurring financial charges65€622€529▼
Profit (loss) for the period before taxes9903€-6k€-16k▼
Income taxes67/77€178-
Profit (loss) for the period9904€-6k€-16k▼
Profit (loss) for the period to be appropriated9905€-6k€-16k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-3k€-19k▼
Profit (loss) brought forward from the previous period14P€3k€-3k▼
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
30-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet €-16k
Net result drops to €-16k, the lowest in the series.
19-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 19 days late
2024
23-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 23 days late
2023
19-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Liquidity doublescurrent ratio 2.21
Current ratio from 1.01 to 2.21; short-term debt falls from €34k to €15k.
20-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
23-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
23-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Back to profitnet €13k
Net result €13k after one loss-making year.
26-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
29-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
22-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 22 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 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, Zulte · 1 establishment unit since 2012
Ground area
704 m²
Building footprint
154 m²
Volume, LiDAR
852 m³
Parcel 44050A0465/00K000, Flanders · tallest building 8.9 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Puvaco
since 20122.214.448.236
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44050A0465/00K000 | Flanders | 704 m² | 1 · 154 m² | 8.9 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2024 · 1 entry · 228 EUR awarded · 228 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 228 EUR | 228 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 21,216 companies in sector 81300 we hold annual accounts for 4,362. 3,223 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded03-10-2012
Fiscal year end31-12
Activities, NACEBEL 2025
81300Landscape service activities
Sources
Crossroads Bank for EnterprisesNational Bank · 13 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.