PYGMA
ActiveSummary
PYGMA has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €160,039 and a net result of €165,039. Equity remains stable across the filed fiscal years (±1.3% per year). Its solvency ranks better than 28% of 31896 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency52▼-48
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €12,000 at 30 days acceptable
Liquidity tight (current ratio 1.21 against 3.37 in 2024; short-term debt: 72.6% and cash: 69.8% of total assets), and 72.6% of the assets are financed with debt.
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Signals
Three signals. The signal on the left, the evidence on the right.
−lowers 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 · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
27.4%
Return on assets
28.3%
Age of the figures
9 mo
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 10-04-2026, 112 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
112 d early
2024
27 d early
2023
16 d early
2022
6 d early
2021
2 d early
2020
30 d late
2019
2 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 19 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.
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€160,039▼ 47.0%
2024 · €301,799
Total assets
€583,643▲ 49.2%
2024 · €391,089
Net result
€165,039▼ 16.2%
2024 · €197,028
Working capital
€90,174▼ 57.3%
2024 · €211,267
Trend over the years
Click a name to add, emphasise or remove a line.Band: 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.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€177,036▲ 9.3%€261,112▲ 47.5%€225,966▼ 13.5%€257,871▲ 14.1%€222,510▼ 13.7%
Net result€137,098above the sector's middle half▲ 9.7%€195,819above the sector's middle half▲ 42.8%€174,148above the sector's middle half▼ 11.1%€197,028above the sector's middle half▲ 13.1%€165,039above the sector's middle half▼ 16.2%
Equity€170,098within the sector's middle half▼ 46.0%€165,918within the sector's middle half▼ 2.5%€140,066within the sector's middle half▼ 15.6%€301,799above the sector's middle half▲ 115%€160,039within the sector's middle half▼ 47.0%
Total assets€232,512within the sector's middle half▼ 41.9%€448,643within the sector's middle half▲ 93.0%€426,074within the sector's middle half▼ 5.0%€391,089within the sector's middle half▼ 8.2%€583,643above the sector's middle half▲ 49.2%
Debt€62,413▼ 26.6%€282,726▲ 353%€286,008▲ 1.2%€89,290▼ 68.8%€423,604▲ 374%
Working capital€165,164▼ 45.9%€165,384▲ 0.1%€139,241▼ 15.8%€211,267▲ 51.7%€90,174▼ 57.3%
Solvency73.2%within the sector's middle half▼ 5.6pp37.0%within the sector's middle half▼ 36.2pp32.9%within the sector's middle half▼ 4.1pp77.2%within the sector's middle half▲ 44.3pp27.4%within the sector's middle half▼ 49.7pp
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 per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 14% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €583,643
Fixed assets
€69,865 ▼ 22.8%
Current assets
€513,778 ▲ 70.9%
Equity and liabilities €583,643
Equity
€160,039 ▼ 47.0%
Debt
€423,604 ▲ 374%
Debt's share of the balance-sheet total rises from 22.8% to 72.6%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€243,178▼
2024 · €269,698
Cash flow
€185,707▼
2024 · €208,855
Current ratio
1.21▼
2024 · 3.37
Debt to equity
2.65▲
2024 · 0.30
ROE
103.1%▲
2024 · 65.3%
ROA
28.3%▼
2024 · 50.4%
Interest coverage
63.06▼
2024 · 106.19
Debt ≤ 1 year
€423,604▲
2024 · €89,290
Income taxes
€53,614▼
2024 · €58,418
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,677 companies that looked in July 2024 the way this one looks now, 1.3% went bankrupt within 24 months and 97% are still going.
- Small
- 5 to 10 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
1.3%
went bankrupt
1.2%
stopped otherwise
97%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
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 2,677 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.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €9,256 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,931 | €4,400 | €536 | €11,827 | €20,668 | ▲ 74.7% |
| Other operating charges640/8 | €1,707 | €3,058 | €2,135 | €155 | €453 | ▲ 192% |
| Gross operating margin9900 | €183,675 | €268,570 | €228,637 | €269,853 | €243,630 | ▼ 9.7% |
| Operating profit (loss)9901 | €177,036 | €261,112 | €225,966 | €257,871 | €222,510 | ▼ 13.7% |
| Financial income75/76B | €788 | €1,403 | €1,718 | €115 | €0 | ▼ 100.0% |
| Recurring financial income75 | €788 | €1,403 | €1,718 | €115 | €0 | ▼ 100.0% |
| Financial charges65/66B | €218 | €227 | €332 | €2,540 | €3,857 | ▲ 51.8% |
| Recurring financial charges65 | €218 | €227 | €332 | €2,540 | €3,857 | ▲ 51.8% |
| Profit (loss) for the period before taxes9903 | €177,606 | €262,287 | €227,352 | €255,446 | €218,653 | ▼ 14.4% |
| Income taxes67/77 | €40,508 | €66,468 | €53,204 | €58,418 | €53,614 | ▼ 8.2% |
| Profit (loss) for the period9904 | €137,098 | €195,819 | €174,148 | €197,028 | €165,039 | ▼ 16.2% |
| Profit (loss) for the period to be appropriated9905 | €137,098 | €195,819 | €174,148 | €197,028 | €165,039 | ▼ 16.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €232,512 | €448,643 | €426,074 | €391,089 | €583,643 | ▲ 49.2% |
| Fixed assets21/28 | €4,934 | €534 | €824 | €90,533 | €69,865 | ▼ 22.8% |
| Tangible fixed assets22/27 | €4,934 | €534 | €824 | €90,533 | €69,865 | ▼ 22.8% |
| Furniture and vehicles24 | €3,384 | €534 | €824 | €90,533 | €69,865 | ▼ 22.8% |
| Other tangible fixed assets26 | €1,550 | - | - | - | - | - |
| Current assets29/58 | €227,577 | €448,110 | €425,249 | €300,557 | €513,778 | ▲ 70.9% |
| Amounts receivable after more than one year29 | €75,000 | €112,000 | €117,000 | - | - | - |
| Other amounts receivable291 | €75,000 | €112,000 | €117,000 | - | - | - |
| Amounts receivable within one year40/41 | €22,398 | €25,600 | €25,600 | €25,600 | €26,402 | ▲ 3.1% |
| Trade receivables40 | €22,398 | €25,600 | €25,600 | €25,600 | €26,402 | ▲ 3.1% |
| Current investments50/53 | - | - | - | €80,000 | €80,000 | = |
| Cash at bank and in hand54/58 | €130,179 | €310,509 | €282,649 | €194,956 | €407,376 | ▲ 109% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €232,512 | €448,643 | €426,074 | €391,089 | €583,643 | ▲ 49.2% |
| Equity10/15 | €170,098 | €165,918 | €140,066 | €301,799 | €160,039 | ▼ 47.0% |
| Contributions10/11 | €30,000 | €30,000 | €30,000 | €30,000 | €30,000 | = |
| Reserves13 | €3,000 | €3,000 | €3,000 | €3,000 | €3,000 | = |
| Distributable reserves133 | €3,000 | €3,000 | €3,000 | €3,000 | €3,000 | = |
| Profit (loss) carried forward14 | €137,098 | €132,918 | €107,066 | €268,799 | €127,039 | ▼ 52.7% |
| Amounts payable17/49 | €62,413 | €282,726 | €286,008 | €89,290 | €423,604 | ▲ 374% |
| Amounts payable within one year42/48 | €62,413 | €282,726 | €286,008 | €89,290 | €423,604 | ▲ 374% |
| Trade debts44 | €103 | €173 | €70 | €5,074 | €791 | ▼ 84.4% |
| Suppliers440/4 | €103 | €173 | €70 | €5,074 | €791 | ▼ 84.4% |
| Taxes, remuneration and social security45 | €56,322 | €111,592 | €85,699 | €24,827 | €71,158 | ▲ 187% |
| Taxes450/3 | €56,322 | €111,592 | €85,699 | €24,827 | €71,158 | ▲ 187% |
| Other amounts payable47/48 | €5,988 | €170,961 | €200,239 | €59,388 | €351,655 | ▲ 492% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €137,098 | €195,819 | €174,148 | €197,028 | €165,039 | ▼ 16.2% |
| + Depreciation and write-downs630 | €4,931 | €4,400 | €536 | €11,827 | €20,668 | ▲ 74.7% |
| Operating cash flow (approximation) | €142,030 | €200,220 | €174,684 | €208,855 | €185,707 | ▼ 11.1% |
| Investment in fixed assets (approximation) | - | €0 | -€826 | -€101,536 | €0 | ▲ 100% |
| Change in cash | - | €180,330 | -€27,860 | -€87,693 | €212,419 | ▲ 342% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
10-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
04-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2018net €197,028 ▲13.1%
Net result €197,028, the highest in the series.
31-12
Financial
Liquidity doublescurrent ratio 3.37
Current ratio from 1.49 to 3.37; short-term debt falls from €286,008 to €89,290.
31-12
Financial
Equity above €200,000Eq €301,799 ▲115%
7 profitable years in a row build equity to €301,799.
15-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
25-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
29-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
2020
31-12
Financial
Equity above €200,000Eq €314,956 ▲65.8%
3 profitable years in a row build equity to €314,956.
29-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Equity above €150,000Eq €189,980 ▲123%
2 profitable years in a row build equity to €189,980.
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 29 days late
2018
17-10
State Gazette act
General meeting · Director resignation
Director appointment · Permanent representative
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Holsbeek · 1 establishment unit since 2017
Ground area
4,030 m²
Building footprint
240 m²
Volume, LiDAR
1,348 m³
Parcel 24043E0185/00M002, Flanders · tallest building 23.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Pygma
since 20172.267.455.073
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24043E0185/00M002 | Flanders | 4,030 m² | 1 · 240 m² | 23.0 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Connections & network
The group is listed under Ownership & control below; here you explore it as a network.
This company
Company
Director
Shareholding
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Ownership & control
1 board mandateBoard mandates of this companythis company sits on their board1
2 locations
Recognitions · licences · registrations
Legal Entity Identifier
2549004Q8ZP03XV3A530
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Of 82,642 companies in sector 70200 we hold annual accounts for 52,626. 40,770 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded14-08-2017
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
64210Activities of holding companies
68201Renting and operating of own or leased residential real estate, excluding social housing
82990Other business support services
85599Other education
E-invoicing
Reachable via Peppol
Peppol ID
0208:0679782928
Also
9925:BE0679782928
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.