PAMCO23
ActivePAMCO23 has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €50k and a net result of €-8k. Equity is shrinking by ~9.4% per year across the filed fiscal years. Its solvency ranks better than 95% of 296 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2025
58
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability1▼-6
Solvency100=
Growth32=
Track record100
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2.5k at 30 days acceptable
Liquidity ample (current ratio 15.06 against 6.32 in 2024; short-term debt: 6.1% and cash: 6.3% of total assets), and 6.1% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 · 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
93.9%
Return on assets
-14.1%
Age of the figures
9 mo
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
181922232425
2018 to 2025 · latest year €-8k
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 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 · 9 filingsDeviation from the deadline
2025
28 d late
2024
57 d late
2023
43 d late
2022
155 d late
2019
243 d late
2018
152 d late
2017
62 d late
← before the deadline
after the deadline →
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
17-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-8k▼ 22.7%
2024 · €-6k
2018: €11k
2019: €5k
2022: €-2k
2023: €-45k
2024: €-6k
2018 → 2025
Working capital
€46k▼ 9.7%
2024 · €51k
2018: €95k
2019: €131k
2022: €118k
2023: €60k
2024: €51k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20192022202320242025Trend
Equity€95k-€109k▲ 14.6%€64k▼ 41.0%€58k▼ 9.6%€50k▼ 13.1%
Operating result€5k-€2k▼ 70.3%€-20k€-8k▲ 58.2%€-5k▲ 36.5%
Net result€5k-€-2k€-45k▼ 1,837%€-6k▲ 86.1%€-8k▼ 22.7%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €5k in 2025 against €8k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €54k
Fixed assets
€4k▼ 38.6%
Current assets
€49k▼ 18.5%
Equity and liabilities €54k
Equity
€50k▼ 13.1%
Debt
€3k▼ 65.8%
The debt ratio falls from 14.2% to 6.1%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-3k▲
2024 · €-6k
Cash flow
€-5k▼
2024 · €-4k
Solvency
93.9%▲
2024 · 85.8%
Current ratio
15.06▲
2024 · 6.32
Quick ratio
14.10▲
2024 · 6.05
Debt / equity
0.07▼
2024 · 0.17
ROE
-15.0%▼
2024 · -10.7%
ROA
-14.1%▼
2024 · -9.1%
Interest coverage
-2.29▲
2024 · -3.19
Debt
€3k▼
2024 · €10k
Debt ≤ 1 year
€3k▼
2024 · €10k
Income taxes
€3k▲
2024 · €-2k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€68k€54k▼
Fixed assets21/28€7k€4k▼
Tangible fixed assets22/27€7k€4k▼
Plant, machinery and equipment23€3k€2k▼
Furniture and vehicles24€3k€2k▼
Financial fixed assets28€75€75=
Current assets29/58€61k€49k▼
Amounts receivable after more than one year29€36k€24k▼
Trade receivables290-€10k
Other amounts receivable291€36k€14k▼
Stocks and contracts in progress3€3k€3k▲
Stocks30/36€3k€3k▲
Amounts receivable within one year40/41€19k€19k▲
Trade receivables40-€341
Other amounts receivable41€19k€19k▼
Cash at bank and in hand54/58€3k€3k▼
Equity and liabilities
Total equity and liabilities10/49€68k€54k▼
Equity10/15€58k€50k▼
Contributions10/11€19k€19k=
Capital10€19k€19k=
Issued capital100€19k€19k=
Reserves13€2k€2k=
Non-distributable reserves130/1€2k€2k=
Legal reserve130€2k€2k=
Profit (loss) carried forward14€37k€29k▼
Amounts payable17/49€10k€3k▼
Amounts payable within one year42/48€10k€3k▼
Current portion of amounts payable after more than one year42€713-
Trade debts44€6k€151▼
Suppliers440/4€6k€151▼
Taxes, remuneration and social security45€3k€3k▲
Taxes450/3€2k€2k▲
Remuneration and social security454/9€1k€1k=
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2k€3k▲
Other operating charges640/8€39-
Gross operating margin9900€-6k€-3k▲
Operating profit (loss)9901€-8k€-5k▲
Financial income75/76B€2k€1k▼
Recurring financial income75€2k€1k▼
Financial charges65/66B€2k€1k▼
Recurring financial charges65€2k€1k▼
Profit (loss) for the period before taxes9903€-8k€-5k▲
Income taxes67/77€-2k€3k▲
Profit (loss) for the period9904€-6k€-8k▼
Profit (loss) for the period to be appropriated9905€-6k€-8k▼
Appropriation of the result
Profit (loss) to be appropriated9906€37k€29k▼
Profit (loss) brought forward from the previous period14P€43k€37k▼
The notes to these accounts (4 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
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 28 days late
2025
31-12
Financial
Liquidity doublescurrent ratio 15.06
Current ratio from 6.32 to 15.06; short-term debt falls from €10k to €3k.
26-09
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 57 days late
2024
12-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 43 days late
02-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 155 days late
2023
31-12
Financial
Weakest financial yearnet €-45k
Net result drops to €-45k, the lowest in the series; recovery starts the following year.
2022
31-12
Financial
Liquidity quadruplescurrent ratio 9.43
Current ratio from 2.39 to 9.43; short-term debt falls from €94k to €14k.
31-12
Financial
Equity above €100kEq €109k ▲14.6%
Equity rises from €95k to €109k.
2021
31-03
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 243 days late
2019
30-12
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 152 days late
2018
01-10
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 62 days late
2017
01-02
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 185 days late
2015
29-09
NBB filing
Annual accounts filed
fiscal year 2014 · full schema · 60 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Brussel · 1 establishment unit since 2014
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.
Baljuwstraat 131000 BrusselGround area
691 m²
Building footprint
382 m²
Volume, LiDAR
5,407 m³
2 parcels, Brussels · tallest building 21.2 m, ±6 floors. Linked by address, not a title deed.
1 establishment unit
PAMCO23
since 20142.235.140.811
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21807G0135/00D003 | Brussels | 528 m² | 1 · 231 m² | 20.1 m · 5 fl. |
| 21807G0115/00M006 | Brussels | 163 m² | 1 · 151 m² | 21.2 m · 6 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
AR
BE 1009.979.836
Jette · Eq €50k
AMANDA SILLEN
BE 0774.473.734
Tongeren-Borgloon · Eq €50k
JOOST COUDENYS
BE 0425.025.789
Tielt · Eq €50k
InfraDiest
BE 0765.525.087
Riemst · Eq €51k
Sense City
BE 1009.872.740
Lokeren · Eq €50k
Of 6,714 companies in sector 96230 we hold annual accounts for 629. 485 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company (pre-2019)
Founded09-10-2013
Fiscal year end31-12
Activities, NACEBEL
96040Personal service activities
96230Day spas, saunas and steam baths
47750Retail sale of cosmetics and toilet articles
96022Beauty treatment
96220Beauty care and other beauty treatments
Sources
Crossroads Bank for EnterprisesNational Bank · 9 filingsAddress and cadastre registers
Data from official sources, last processed on 16-09-2026. Scores and ratios are computed by Checked and are not a credit decision.