PAGACE
ActiveSummary
PAGACE has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €5.27M and a net result of €119k. Equity remains stable across the filed fiscal years (±0.3% per year). Its solvency ranks better than 95% of 9716 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2024
72
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability43▼-23
Solvency100=
Growth52▲+20
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €370k at 30 days acceptable
short-term debt: 0.6% and cash: 1.3% of total assets, and 0.6% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Sector 68
lower
← 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 2024Solvency, return and age of the figures
Solvency
99.4%
Return on assets
2.3%
Age of the figures
21 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
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-09-2025, 61 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
61 d late
2023
30 d late
2022
31 d late
2021
61 d early
2020
24 d late
2019
14 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, abbreviated schema
Equity
€5.27M▲ 2.3%
2023 · €5.15M
2018: €5.16M
2019: €5.18M
2020: €5.05M
2021: €5.06M
2022: €4.94M
2023: €5.15M
2018 → 2024
Total assets
€5.30M▼ 14.9%
2023 · €6.23M
2018: €7.32M
2019: €5.54M
2020: €5.17M
2021: €5.11M
2022: €4.99M
2023: €6.23M
2018 → 2024
Net result
€119k▼ 83.2%
2023 · €710k
2018: €1.21M
2019: €15k
2020: €-134k
2021: €19k
2022: €-126k
2023: €710k
2018 → 2024
Working capital
€5.27M▲ 3.1%
2023 · €5.11M
2018: €5.16M
2019: €5.14M
2020: €5.01M
2021: €5.03M
2022: €4.90M
2023: €5.11M
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€5.05M-€5.06M▲ 0.4%€4.94M▼ 2.5%€5.15M▲ 4.2%€5.27M▲ 2.3%
Operating result€-148k-€-6k▲ 96.1%€-125k▼ 2,082%€666k€-50k
Net result€-134k-€19k€-126k€710k€119k▼ 83.2%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2024: a loss of €50k after €666k in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Equity and liabilities €5.30M
Equity
€5.27M ▲ 2.3%
Debt
€34k ▼ 96.8%
Debt's share of the balance-sheet total falls from 17.4% to 0.6%. Equity is higher and debt is lower.
Key figures and ratios
Debt to equity
0.01▼
2023 · 0.21
ROE
2.3%▼
2023 · 13.8%
ROA
2.3%▼
2023 · 11.4%
Debt ≤ 1 year
€34k▼
2023 · €1.08M
Income taxes
€42k
A ratio outside any meaningful range has been withheld (balance sheet total €5.30M, equity €5.27M).
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 · 2024 against 2023 · 40 lines
Balance sheet
Code20232024
Assets
Total assets20/58€6.23M€5.30M▼
Fixed assets21/28€38k€0▼
Financial fixed assets28€38k€0▼
Current assets29/58€6.19M€5.30M▼
Amounts receivable within one year40/41€23k€2.34M▲
Trade receivables40-€32k
Other amounts receivable41€23k€2.30M▲
Current investments50/53€6.00M€2.90M▼
Cash at bank and in hand54/58€171k€67k▼
Equity and liabilities
Total equity and liabilities10/49€6.23M€5.30M▼
Equity10/15€5.15M€5.27M▲
Contributions10/11€861k€861k=
Capital10€861k€861k=
Issued capital100€861k€861k=
Reserves13€151k€151k=
Non-distributable reserves130/1€151k€151k=
Legal reserve130€151k€151k=
Profit (loss) carried forward14€4.14M€4.26M▲
Amounts payable17/49€1.08M€34k▼
Amounts payable within one year42/48€1.08M€34k▼
Trade debts44€584k€33k▼
Suppliers440/4€584k€33k▼
Taxes, remuneration and social security45-€2k
Taxes450/3-€2k
Other amounts payable47/48€500k€0▼
Accrued charges and deferred income492/3-€3
Income statement
Code20232024
Gross operating margin9900€666k€-50k▼
Operating profit (loss)9901€666k€-50k▼
Financial income75/76B€44k€222k▲
Recurring financial income75€44k€222k▲
Financial charges65/66B€690€11k▲
Recurring financial charges65€690€11k▲
Profit (loss) for the period before taxes9903€710k€161k▼
Income taxes67/77-€42k
Profit (loss) for the period9904€710k€119k▼
Profit (loss) for the period to be appropriated9905€710k€119k▼
Appropriation of the result
Profit (loss) to be appropriated9906€4.64M€4.26M▼
Profit (loss) brought forward from the previous period14P€3.93M€4.14M▲
Profit to be distributed694/7€500k€0▼
Directors or managers695€500k€0▼
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
2025
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 61 days late
2024
31-12
Financial
Liquidity times 27current ratio 155.15
Current ratio from 5.72 to 155.15; short-term debt falls from €1.08M to €34k.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 30 days late
2023
31-12
Financial
Back to profitnet €710k
Net result €710k after one loss-making year.
31-12
Financial
Equity above €5MEq €5.15M ▲4.2%
Equity rises from €4.94M to €5.15M.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 31 days late
2022
31-05
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Back to profitnet €19k
Net result €19k after one loss-making year.
31-12
Financial
Liquidity doublescurrent ratio 101.79
Current ratio from 42.36 to 101.79; short-term debt falls from €121k to €50k.
24-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 24 days late
2020
31-12
Financial
Weakest financial yearnet €-134k ▼976%
Net result drops to €-134k, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity triplescurrent ratio 42.36
Current ratio from 15.31 to 42.36; short-term debt falls from €359k to €121k.
Show earlier events
14-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 14 days late
2019
31-12
Financial
Liquidity times 5current ratio 15.31
Current ratio from 3.40 to 15.31; short-term debt falls from €2.15M to €359k.
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 29 days late
2018
24-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 24 days late
2017
29-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 29 days late
2016
23-09
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 54 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
7 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, Oudergem · 1 establishment unit since 2011
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Vorstlaan 2921160 OudergemGround area
2,655 m²
Building footprint
1,218 m²
Volume, LiDAR
24,650 m³
Parcel 21332B0289/00R003, Brussels · tallest building 25.9 m, ±7 floors. Linked by address, not a title deed.
1 establishment unit
PAGACE
since 20112.218.103.354
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21332B0289/00R003 | Brussels | 2,655 m² | 1 · 1,218 m² | 25.9 m · 7 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.
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Of 7,320 companies in sector 68110 we hold annual accounts for 5,381. 1,739 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 formPublic limited company
Founded04-08-2011
Fiscal year end31-12
Activities, NACEBEL 2025
68110Buying and selling of own real estate
Sources
Crossroads Bank for EnterprisesNational Bank · 13 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.