RG PAC
ActiveSummary
The annual accounts of RG PAC for fiscal year 2025 show a net loss of 77% of total assets and of 54% of the equity at the start of that year. The 2025 annual accounts show equity of €25,170 and a net result of -€29,038. Equity is growing by ~12% per year across the filed fiscal years. Its solvency ranks better than 71% of 28806 sector peers (fiscal year 2025). The company has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 1.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-71
Solvency91▲+22
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
1.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,000 at 30 days only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity tight (current ratio 1.27 against 0.83 in 2024; short-term debt: 33.6% and cash: 15.4% of total assets), and 33.6% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
+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 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← 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
66.4%
Return on assets
-76.6%
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 30-07-2026, 1 day ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
1 d early
2024
18 d late
2023
17 d late
2022
25 d late
2021
22 d late
2020
19 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 14 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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. Usually files around 18 August (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€25,170▼ 53.6%
2024 · €54,207
Total assets
€37,922▼ 69.4%
2024 · €123,750
Net result
-€29,038
2024 · €2,304
Working capital
€3,405
2024 · -€11,266
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€16,568▲ 33.9%€11,590▼ 30.0%€12,950▲ 11.7%€5,778▼ 55.4%-€27,989
Net result€11,513within the sector's middle half▲ 19.9%€6,978within the sector's middle half▼ 39.4%€7,540within the sector's middle half▲ 8.1%€2,304within the sector's middle half▼ 69.4%-€29,038below the sector's middle half
Equity€48,566within the sector's middle half▲ 31.1%€55,544within the sector's middle half▲ 14.4%€51,904within the sector's middle half▼ 6.6%€54,207within the sector's middle half▲ 4.4%€25,170within the sector's middle half▼ 53.6%
Total assets€165,267within the sector's middle half▲ 36.2%€143,626within the sector's middle half▼ 13.1%€148,489within the sector's middle half▲ 3.4%€123,750within the sector's middle half▼ 16.7%€37,922below the sector's middle half▼ 69.4%
Debt€116,701▲ 38.4%€88,082▼ 24.5%€96,586▲ 9.7%€69,542▼ 28.0%€12,752▼ 81.7%
Working capital-€34,134below the sector's middle half▼ 177%-€37,254below the sector's middle half▼ 9.1%-€48,758below the sector's middle half▼ 30.9%-€11,266below the sector's middle half▲ 76.9%€3,405below the sector's middle half
Solvency29.4%within the sector's middle half▼ 1.1pp38.7%within the sector's middle half▲ 9.3pp35.0%within the sector's middle half▼ 3.7pp43.8%within the sector's middle half▲ 8.8pp66.4%within the sector's middle half▲ 22.6pp
Current ratio0.63below the sector's middle half▼ 0.210.51below the sector's middle half▼ 0.120.41below the sector's middle half▼ 0.100.83below the sector's middle half▲ 0.421.27within the sector's middle half▲ 0.44
Return on assets (ROA)7.0%within the sector's middle half▼ 0.9pp4.9%within the sector's middle half▼ 2.1pp5.1%within the sector's middle half▲ 0.2pp1.9%within the sector's middle half▼ 3.2pp-76.6%below the sector's middle half▼ 78.4pp
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction 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 turns negative in 2025: a loss of €27,989 after €5,778 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €37,922
Fixed assets
€21,765 ▼ 69.1%
Current assets
€16,157 ▼ 69.8%
Equity and liabilities €37,922
Equity
€25,170 ▼ 53.6%
Debt
€12,752 ▼ 81.7%
Debt's share of the balance-sheet total falls from 56.2% to 33.6%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€13,724▼
2024 · €32,654
Cash flow
-€14,773▼
2024 · €29,180
Quick ratio
1.18▲
2024 · 0.81
Debt to equity
0.51▼
2024 · 1.28
ROE
-115.4%▼
2024 · 4.2%
Interest coverage
-16.19▼
2024 · 22.26
Debt ≤ 1 year
€12,752▼
2024 · €64,681
Income taxes
€201▼
2024 · €2,168
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,592 companies that looked in July 2024 the way this one looks now, 3.0% went bankrupt within 24 months and 87% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a loss of 10% of the balance sheet or more
3.0%
went bankrupt
9.5%
stopped otherwise
87%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.5% 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 497,341 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
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 3,592 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 | €19,047 | €32,181 | €28,941 | €26,877 | €14,265 | ▼ 46.9% |
| Other operating charges640/8 | €7,690 | €2,252 | €4,109 | €2,097 | €1,981 | ▼ 5.5% |
| Non-recurring operating charges66A | - | - | - | €7,745 | €5,505 | ▼ 28.9% |
| Gross operating margin9900 | €43,305 | €46,024 | €46,000 | €42,495 | -€6,238 | ▼ 115% |
| Operating profit (loss)9901 | €16,568 | €11,590 | €12,950 | €5,778 | -€27,989 | ▼ 584% |
| Financial income75/76B | - | - | €3 | €161 | - | - |
| Recurring financial income75 | - | - | €3 | €161 | - | - |
| Financial charges65/66B | €1,012 | €1,189 | €1,684 | €1,467 | €848 | ▼ 42.2% |
| Recurring financial charges65 | €1,012 | €1,189 | €1,684 | €1,467 | €848 | ▼ 42.2% |
| Profit (loss) for the period before taxes9903 | €15,556 | €10,401 | €11,268 | €4,472 | -€28,836 | ▼ 745% |
| Income taxes67/77 | €4,043 | €3,423 | €3,728 | €2,168 | €201 | ▼ 90.7% |
| Profit (loss) for the period9904 | €11,513 | €6,978 | €7,540 | €2,304 | -€29,038 | ▼ 1,360% |
| Profit (loss) for the period to be appropriated9905 | €11,513 | €6,978 | €7,540 | €2,304 | -€29,038 | ▼ 1,360% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €165,267 | €143,626 | €148,489 | €123,750 | €37,922 | ▼ 69.4% |
| Formation expenses20 | €0 | - | - | - | - | - |
| Fixed assets21/28 | €107,546 | €104,692 | €114,856 | €70,334 | €21,765 | ▼ 69.1% |
| Tangible fixed assets22/27 | €105,746 | €102,892 | €113,056 | €68,534 | €19,965 | ▼ 70.9% |
| Plant, machinery and equipment23 | €5,192 | €6,801 | €36,950 | €28,296 | €1,689 | ▼ 94.0% |
| Furniture and vehicles24 | €100,554 | €96,091 | €76,106 | €40,238 | €18,276 | ▼ 54.6% |
| Financial fixed assets28 | €1,800 | €1,800 | €1,800 | €1,800 | €1,800 | = |
| Current assets29/58 | €57,722 | €38,934 | €33,633 | €53,415 | €16,157 | ▼ 69.8% |
| Stocks and contracts in progress3 | €1,157 | €1,038 | €4,613 | €1,162 | €1,083 | ▼ 6.8% |
| Stocks30/36 | €1,157 | €1,038 | €4,613 | €1,162 | €1,083 | ▼ 6.8% |
| Amounts receivable within one year40/41 | €30,315 | €20,489 | €18,783 | €41,165 | €7,681 | ▼ 81.3% |
| Trade receivables40 | €76 | €4,519 | €265 | €16,824 | €2,795 | ▼ 83.4% |
| Other amounts receivable41 | €30,239 | €15,970 | €18,518 | €24,342 | €4,886 | ▼ 79.9% |
| Cash at bank and in hand54/58 | €23,790 | €11,107 | €4,387 | €7,560 | €5,832 | ▼ 22.9% |
| Deferred charges and accrued income490/1 | €2,460 | €6,299 | €5,849 | €3,528 | €1,561 | ▼ 55.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €165,267 | €143,626 | €148,489 | €123,750 | €37,922 | ▼ 69.4% |
| Equity10/15 | €48,566 | €55,544 | €51,904 | €54,207 | €25,170 | ▼ 53.6% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €42,366 | €49,344 | €45,704 | €48,007 | €48,007 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | €40,506 | €47,484 | €43,844 | €46,147 | €46,147 | = |
| Profit (loss) carried forward14 | - | - | - | - | -€29,038 | - |
| Amounts payable17/49 | €116,701 | €88,082 | €96,586 | €69,542 | €12,752 | ▼ 81.7% |
| Amounts payable after more than one year17 | €24,846 | €11,895 | €13,195 | €4,861 | - | - |
| Financial debts170/4 | €24,846 | €11,895 | €13,195 | €4,861 | - | - |
| Amounts payable within one year42/48 | €91,855 | €76,187 | €82,391 | €64,681 | €12,752 | ▼ 80.3% |
| Current portion of amounts payable after more than one year42 | €22,970 | €26,143 | €20,229 | €8,333 | €4,861 | ▼ 41.7% |
| Trade debts44 | €39,337 | €24,806 | €22,324 | €44,153 | €1,171 | ▼ 97.3% |
| Suppliers440/4 | €39,337 | €24,806 | €22,324 | €44,153 | €1,171 | ▼ 97.3% |
| Taxes, remuneration and social security45 | €22,161 | €20,335 | €23,025 | €12,195 | €6,720 | ▼ 44.9% |
| Taxes450/3 | €8,301 | €10,174 | €10,164 | €7,131 | €2,220 | ▼ 68.9% |
| Remuneration and social security454/9 | €13,860 | €10,161 | €12,861 | €5,064 | €4,500 | ▼ 11.1% |
| Other amounts payable47/48 | €7,388 | €4,903 | €16,814 | - | - | - |
| Accrued charges and deferred income492/3 | - | - | €1,000 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €11,513 | €6,978 | €7,540 | €2,304 | -€29,038 | ▼ 1,360% |
| + Depreciation and write-downs630 | €19,047 | €32,181 | €28,941 | €26,877 | €14,265 | ▼ 46.9% |
| Operating cash flow (approximation) | €30,560 | €39,159 | €36,482 | €29,180 | -€14,773 | ▼ 151% |
| Investment in fixed assets (approximation) | - | -€29,328 | -€39,105 | €17,645 | €34,305 | ▲ 94.4% |
| Change in cash | - | -€12,683 | -€6,720 | €3,172 | -€1,728 | ▼ 154% |
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
30-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet -€29,038
Net result drops to -€29,038, the lowest in the series.
18-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 18 days late
2024
17-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 17 days late
2023
25-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 25 days late
2022
22-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 22 days late
2021
31-12
Financial
Highest result since 2018net €11,513 ▲19.9%
Operating result €16,568, net result €11,513, both a record.
19-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 19 days late
2020
29-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
20-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 20 days late
2018
16-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 16 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
No directors read yet: 0 of 4 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Pont-à-Celles · 1 establishment unit since 2017
Ground area
1,880 m²
Building footprint
183 m²
2 parcels, Wallonia. Linked by address, not a title deed.
1 establishment unit
RG PAC
since 20172.261.136.019
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 52051C0199/00G000 | Wallonia | 1,378 m² | 1 · 112 m² | - |
| 52051C0067/00G000 | Wallonia | 502 m² | 1 · 70 m² | - |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 15,518 companies in this sector we hold annual accounts for 7,427. 5,498 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
Identification
Legal formPrivate limited company
Founded16-01-2017
Fiscal year end31-12
Activities, NACEBEL 2025
43990Other specialised construction activities
Contact
E-mail
romanionrg@yahoo.comPont-à-Celles
Phone
0498/87.94.46Pont-à-Celles
E-invoicing
Reachable via Peppol
Peppol ID
0208:0669622375
Also
9925:BE0669622375
Registered
06-01-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.