Pygmaline
ActiveSummary
Pygmaline has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €60,637 and a net result of €17,935. Equity is growing by ~31.4% per year across the filed fiscal years. Its solvency ranks better than 50% of 7833 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability88▼-10
Solvency76▼-24
Growth78=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4,000 at 30 days acceptable
Liquidity ample (current ratio 1.94 against 5.53 in 2024; short-term debt: 44.6% and cash: 3.3% of total assets), and 48.8% 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
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 82
Relative position
BE, all sectors
reference
Office administrative, office support and other business support activities (NACE 82)
about 37% 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
51.2%
Return on assets
15.1%
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 27-07-2026, 4 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
4 d early
2024
14 d early
2023
6 d early
2022
35 d early
2021
25 d late
2020
40 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 12 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 35% 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
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check What other support did companies like this one receive, and it did not?Public money How does this company compare with its sector?Sector benchmark
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
€60,637▼ 31.6%
2024 · €88,702
Total assets
€118,477▲ 3.8%
2024 · €114,159
Net result
€17,935▼ 31.7%
2024 · €26,270
Working capital
€49,648▼ 46.4%
2024 · €92,686
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 82, Office administrative, office support and other business support 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€31,046▲ 146%€12,205▼ 60.7%€39,751▲ 226%€32,902▼ 17.2%€25,480▼ 22.6%
Net result€22,808within the sector's middle half▲ 136%€7,497within the sector's middle half▼ 67.1%€29,446within the sector's middle half▲ 293%€26,270within the sector's middle half▼ 10.8%€17,935within the sector's middle half▼ 31.7%
Equity€35,488within the sector's middle half▲ 180%€42,986within the sector's middle half▲ 21.1%€72,432within the sector's middle half▲ 68.5%€88,702within the sector's middle half▲ 22.5%€60,637within the sector's middle half▼ 31.6%
Total assets€54,553below the sector's middle half▲ 122%€70,550within the sector's middle half▲ 29.3%€102,887within the sector's middle half▲ 45.8%€114,159within the sector's middle half▲ 11.0%€118,477within the sector's middle half▲ 3.8%
Debt€19,065▲ 61.0%€27,564▲ 44.6%€30,455▲ 10.5%€25,457▼ 16.4%€57,841▲ 127%
Working capital€33,743within the sector's middle half▲ 166%€46,999within the sector's middle half▲ 39.3%€75,250within the sector's middle half▲ 60.1%€92,686within the sector's middle half▲ 23.2%€49,648within the sector's middle half▼ 46.4%
Solvency65.1%within the sector's middle half▲ 13.3pp60.9%within the sector's middle half▼ 4.1pp70.4%within the sector's middle half▲ 9.5pp77.7%above the sector's middle half▲ 7.3pp51.2%within the sector's middle half▼ 26.5pp
Current ratio2.77within the sector's middle half▲ 0.703.08within the sector's middle half▲ 0.313.95above the sector's middle half▲ 0.875.53above the sector's middle half▲ 1.571.94within the sector's middle half▼ 3.59
Return on assets (ROA)41.8%above the sector's middle half▲ 2.3pp10.6%within the sector's middle half▼ 31.2pp28.6%above the sector's middle half▲ 18.0pp23.0%within the sector's middle half▼ 5.6pp15.1%within the sector's middle half▼ 7.9pp
above
within
below
the middle half (P25 to P75) of NACE 82, Office administrative, office support and other business support 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 has fallen two years in a row; 2025 is 23% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €118,477
Fixed assets
€15,963 ▲ 1,512%
Current assets
€102,515 ▼ 9.4%
Equity and liabilities €118,477
Equity
€60,637 ▼ 31.6%
Debt
€57,841 ▲ 127%
Debt's share of the balance-sheet total rises from 22.3% to 48.8%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€28,448▼
2024 · €34,068
Cash flow
€20,903▼
2024 · €27,436
Debt to equity
0.95▲
2024 · 0.29
ROE
29.6%▼
2024 · 29.6%
Interest coverage
54.43▼
2024 · 56.05
Debt ≤ 1 year
€52,866▲
2024 · €20,483
Income taxes
€7,056▲
2024 · €6,025
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,970 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.5%
went bankrupt
3.4%
stopped otherwise
95%
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 0.7% 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 497,662 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% | 1.7% |
| 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 75% 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 26,970 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €609 | €785 | €1,775 | €1,166 | €2,969 | ▲ 155% |
| Other operating charges640/8 | €1,567 | €1,988 | €1,125 | €5,088 | €3,117 | ▼ 38.7% |
| Gross operating margin9900 | €33,222 | €14,978 | €42,651 | €39,156 | €31,565 | ▼ 19.4% |
| Operating profit (loss)9901 | €31,046 | €12,205 | €39,751 | €32,902 | €25,480 | ▼ 22.6% |
| Financial income75/76B | €2 | €1 | €117 | €0 | €34 | ▲ 7,289% |
| Recurring financial income75 | €2 | €1 | €117 | €0 | €34 | ▲ 7,289% |
| Financial charges65/66B | €1,348 | €1,314 | €1,517 | €608 | €523 | ▼ 14.0% |
| Recurring financial charges65 | €1,348 | €1,314 | €1,517 | €608 | €523 | ▼ 14.0% |
| Profit (loss) for the period before taxes9903 | €29,700 | €10,892 | €38,351 | €32,295 | €24,991 | ▼ 22.6% |
| Income taxes67/77 | €6,893 | €3,394 | €8,904 | €6,025 | €7,056 | ▲ 17.1% |
| Profit (loss) for the period9904 | €22,808 | €7,497 | €29,446 | €26,270 | €17,935 | ▼ 31.7% |
| Profit (loss) for the period to be appropriated9905 | €22,808 | €7,497 | €29,446 | €26,270 | €17,935 | ▼ 31.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €54,553 | €70,550 | €102,887 | €114,159 | €118,477 | ▲ 3.8% |
| Fixed assets21/28 | €1,745 | €961 | €2,156 | €990 | €15,963 | ▲ 1,512% |
| Tangible fixed assets22/27 | €1,745 | €961 | €2,156 | €990 | €15,963 | ▲ 1,512% |
| Plant, machinery and equipment23 | - | - | €1,980 | €990 | - | - |
| Furniture and vehicles24 | €1,745 | €961 | €176 | - | €2,678 | - |
| Other tangible fixed assets26 | - | - | - | - | €13,284 | - |
| Current assets29/58 | €52,808 | €69,589 | €100,731 | €113,169 | €102,515 | ▼ 9.4% |
| Amounts receivable after more than one year29 | €33,750 | €33,750 | €58,750 | €58,750 | €58,750 | = |
| Other amounts receivable291 | €33,750 | €33,750 | €58,750 | €58,750 | €58,750 | = |
| Amounts receivable within one year40/41 | €8,909 | €14,973 | €25,488 | €27,331 | €39,891 | ▲ 46.0% |
| Trade receivables40 | €8,909 | €10,953 | €25,392 | €22,758 | €1,572 | ▼ 93.1% |
| Other amounts receivable41 | - | €4,020 | €96 | €4,573 | €38,320 | ▲ 738% |
| Cash at bank and in hand54/58 | €8,823 | €20,162 | €15,191 | €25,719 | €3,874 | ▼ 84.9% |
| Deferred charges and accrued income490/1 | €1,326 | €704 | €1,303 | €1,369 | €0 | ▼ 100% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €54,553 | €70,550 | €102,887 | €114,159 | €118,477 | ▲ 3.8% |
| Equity10/15 | €35,488 | €42,986 | €72,432 | €88,702 | €60,637 | ▼ 31.6% |
| Contributions10/11 | €3,000 | €3,000 | €3,000 | €3,000 | €3,000 | = |
| Profit (loss) carried forward14 | €32,488 | €39,986 | €69,432 | €85,702 | €57,637 | ▼ 32.7% |
| Amounts payable17/49 | €19,065 | €27,564 | €30,455 | €25,457 | €57,841 | ▲ 127% |
| Amounts payable within one year42/48 | €19,065 | €22,590 | €25,481 | €20,483 | €52,866 | ▲ 158% |
| Trade debts44 | €2,525 | €8,674 | €3,137 | €1,398 | €3,331 | ▲ 138% |
| Suppliers440/4 | €2,525 | €8,674 | €3,137 | €1,398 | €3,331 | ▲ 138% |
| Taxes, remuneration and social security45 | €10,884 | €13,916 | €16,169 | €3,640 | €4,990 | ▲ 37.1% |
| Taxes450/3 | €10,884 | €13,916 | €16,169 | €3,640 | €2,189 | ▼ 39.9% |
| Remuneration and social security454/9 | - | - | - | - | €2,801 | - |
| Other amounts payable47/48 | €5,655 | - | €6,176 | €15,445 | €44,545 | ▲ 188% |
| Accrued charges and deferred income492/3 | - | €4,974 | €4,974 | €4,974 | €4,974 | = |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €22,808 | €7,497 | €29,446 | €26,270 | €17,935 | ▼ 31.7% |
| + Depreciation and write-downs630 | €609 | €785 | €1,775 | €1,166 | €2,969 | ▲ 155% |
| Operating cash flow (approximation) | €23,417 | €8,282 | €31,221 | €27,436 | €20,903 | ▼ 23.8% |
| Investment in fixed assets (approximation) | - | €0 | -€2,971 | €0 | -€17,941 | - |
| Change in cash | - | €11,339 | -€4,972 | €10,528 | -€21,845 | ▼ 307% |
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
27-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
17-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
25-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2020net €29,446 ▲293%
Operating result €39,751, net result €29,446, both a record.
26-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet €7,497 ▼67.1%
Net result drops to €7,497, the lowest in the series; recovery starts the following year.
25-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 25 days late
2021
21-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
1 act for this company is 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, Heist-op-den-Berg · 1 establishment unit since 2020
Ground area
732 m²
Building footprint
140 m²
Volume, LiDAR
950 m³
Parcel 12014B0570/00R000, Flanders · tallest building 8.7 m, ±2 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
Pygmaline
since 20202.304.845.704
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12014B0570/00R000 | Flanders | 732 m² | 1 · 140 m² | 8.7 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.
Public money · subsidies and aid
Flemish government
2022 to 2023 · 2 entries · 222 EUR awarded · 222 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 42 EUR | 42 EUR |
| 2022 | 1 | 180 EUR | 180 EUR |
Recognitions · licences · registrations
Legal Entity Identifier
98450057B79054097B58
Similar companies · same sector, comparable size
PINGUIN PRODUCTIONS
BE 0436.122.985
Brugge · Eq €60,622
Spirit.lab
BE 0784.474.335
Chaumont-Gistoux · Eq €60,653
KUNUR MANAGEMENT
BE 1012.214.497
Mechelen · Eq €60,655
Manie Tout Services
BE 0822.937.706
Mouscron · Eq €60,683
OTTI
BE 0788.253.771
Heist-op-den-Berg · Eq €60,565
Of 24,517 companies in sector 82990 we hold annual accounts for 9,421. 7,055 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
Founded17-07-2020
Fiscal year end31-12
Activities, NACEBEL 2025
82990Other business support services
62200Computer consultancy and computer facilities management
70200Business and other management consultancy
82100Office administrative and support services
90391Promotion and organisation of arts and performing arts events
E-invoicing
Reachable via Peppol
Peppol ID
0208:0750818897
Also
9925:BE0750818897
Registered
06-08-2025
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.