PARECO CONSTRUCT

Active

Private limited companyfounded 201412 yrs activeRue de l' Yser(THL) 38/1, 6536 Thuin, BelgiumKBO/BCE: BE 0554.942.740

PARECO CONSTRUCT has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €8k and a net result of €-10k. Equity is shrinking by ~14.5% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2027. Its solvency ranks better than 10% of 36378 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.4% (low).

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Checked score

Score 2024

20 / 100

Critical▼ -16 vs 2023

The score combines four axes. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability0▼-35

Solvency6▲+1

Growth27=

Stability100

Bankruptcy probability, 12 months

1.4% Low

0%0.5%1.5%4%10%≥ 25%

No credit on open account

Liquidity short (current ratio 0.69 against 0.63 in 2023), and 98% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Eight signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Higher-failure-rate sector

In this sector companies fail more often than the Belgian average.

Gazette · bankruptcies per sector, NACE 41

Relative position

BE, all sectors

reference

Sector 41

higher

← fewer bankruptcies more bankruptcies →

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 2024

Solvency, return and age of the figures

Solvency

Return on assets

-2.5%

Age of the figures

20 mo

Higher-failure-rate region

In this region companies fail more often than in the rest of the country.

KBO · registered office

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

Persistent losses

Two consecutive loss-making years (2023 and 2024); equity fell accordingly. May indicate structural pressure on profitability.

NBB · annual accounts 2024

Net result per financial year

18192021222324

2018 to 2024 · latest year -€10k

Weak solvency vs sector

Solvency (equity / total assets) is in the sector's weakest quartile: better than 10% of 36378 sector peers (2024).

NBB · sector comparison

Position among 36378 sector peers

Solvency

better than 10%

← weakest strongest →

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 · 9 filings

Deviation from the deadline

2025

not confirmed

2024

61 d late

2023

106 d late

2022

112 d late

2021

179 d late

2020

263 d late

2019

92 d late

← before the deadline after the deadline →

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2024, micro schema

Turnover

€220k▼ 27.6%

2022 · €304k

2018: €290k 2019: €290k 2020: €390k 2021: €418k 2022: €304k

2018 → 2023

EBIT margin

1.1%▲ 5.4pp

2022 · -4.4%

2018: 6.5% 2019: -1.2% 2020: 1.0% 2021: 3.1% 2022: -4.4%

2018 → 2023

Net result

€-10k▼ 204%

2023 · €-3k

2018: €13k 2019: €-5k 2020: €184 2021: €9k 2022: €-16k 2023: €-3k

2018 → 2024

Working capital

€-76k▲ 44.2%

2023 · €-136k

2018: €30k 2019: €128k 2020: €96k 2021: €-79k 2022: €-107k 2023: €-136k

2018 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20202021202220232024Trend

Turnover€390k-€418k▲ 7.2%€304k▼ 27.2%€220k▼ 27.6%

Equity€36k-€45k▲ 25.4%€22k▼ 51.1%€18k▼ 15.3%€8k▼ 55.0%

Operating result€4k-€13k▲ 245%€-13k€2k€-9k

Net result€184-€9k▲ 4,795%€-16k€-3k▲ 79.0%€-10k▼ 204%

Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result turns negative in 2024: a loss of €9k after €2k in 2023.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €405k

57.7%

42.3%

Fixed assets €234k▼ 28.4%

Current assets €171k▼ 27.2%

Equity and liabilities €405k

98.0%

Equity €8k▼ 55.0%

Debt €397k▼ 27.0%

The debt ratio rises from 96.7% to 98.0%: equity shrinks faster than debt is paid down.

Key figures and ratios

2024 value · change against 2023

EBITDA

€22k▼

2023 · €38k

Cash flow

€21k▼

2023 · €33k

Solvency

2.0%▼

2023 · 3.3%

Current ratio

0.69▲

2023 · 0.63

Quick ratio

0.30▲

2023 · 0.18

Debt / equity

47.82▲

2023 · 29.44

ROE

-122.4%▼

2023 · -18.1%

ROA

-2.5%▼

2023 · -0.6%

Interest coverage

27.17▲

2023 · 7.15

Debt

€397k▼

2023 · €544k

Debt ≤ 1 year

€247k▼

2023 · €372k

Debt > 1 year

€150k▼

2023 · €172k

Income taxes

€144▼

2023 · €297

Staff costs

€3k▲

2023 · €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 · 2024 against 2023

Balance sheet Code20232024

Assets

Total assets20/58€562k€405k▼

Fixed assets21/28€327k€234k▼

Intangible fixed assets21€1k-

Tangible fixed assets22/27€326k€234k▼

Land and buildings22€245k€165k▼

Plant, machinery and equipment23€2k€8k▲

Furniture and vehicles24€43k€36k▼

Assets under construction and advance payments27€37k€24k▼

Current assets29/58€235k€171k▼

Stocks and contracts in progress3€170k€97k▼

Stocks30/36€170k€97k▼

Amounts receivable within one year40/41€64k€70k▲

Trade receivables40€62k€70k▲

Other amounts receivable41€2k€1▼

Cash at bank and in hand54/58€532€2k▲

Deferred charges and accrued income490/1€1k€1k▲

Equity and liabilities

Total equity and liabilities10/49€562k€405k▼

Equity10/15€18k€8k▼

Contributions10/11€12k€12k=

Reserves13€9k€9k=

Tax-exempt reserves132€9k€9k=

Profit (loss) carried forward14€-2k€-13k▼

Amounts payable17/49€544k€397k▼

Amounts payable after more than one year17€172k€150k▼

Financial debts170/4€172k€150k▼

Amounts payable within one year42/48€372k€247k▼

Current portion of amounts payable after more than one year42€23k€22k▼

Financial debts43€10k€7k▼

Credit institutions430/8€10k€7k▼

Trade debts44€17k€6k▼

Suppliers440/4€17k€6k▼

Advances received on contracts in progress46€58k€58k=

Taxes, remuneration and social security45€17k€10k▼

Taxes450/3€9k€10k▲

Remuneration and social security454/9€8k-

Other amounts payable47/48€247k€145k▼

Income statement Code20232024

Turnover70€220k-

Goods, raw materials, services and sundry goods60/61€174k-

Remuneration, social security and pensions62€2k€3k▲

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€36k€32k▼

Other operating charges640/8€5k€3k▼

Non-recurring operating charges66A€769€1k▲

Gross operating margin9900€46k€29k▼

Operating profit (loss)9901€2k€-9k▼

Financial income75/76B€0€0▲

Recurring financial income75€0€0▲

Financial charges65/66B€5k€825▼

Recurring financial charges65€5k€825▼

Profit (loss) for the period before taxes9903€-3k€-10k▼

Income taxes67/77€297€144▼

Profit (loss) for the period9904€-3k€-10k▼

Profit (loss) for the period to be appropriated9905€-3k€-10k▼

Appropriation of the result

Profit (loss) to be appropriated9906€-2k€-13k▼

Profit (loss) brought forward from the previous period14P€913€-2k▼

The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 13Financial 3Filings 10

2025

30-09

NBB filing Annual accounts filed

fiscal year 2024 · micro schema · 61 days late

2024

14-11

NBB filing Annual accounts filed

fiscal year 2023 · micro schema · 106 days late

19-06

NBB filing Annual accounts filed

fiscal year 2021 · abbreviated schema · 179 days late

2023

20-11

NBB filing Annual accounts filed

fiscal year 2022 · micro schema · 112 days late

26-01

NBB filing Annual accounts filed

fiscal year 2021 · micro schema · 179 days late

2022

31-12

Financial Weakest financial yearnet €-16k ▼276%

Net result drops to €-16k, the lowest in the series; recovery starts the following year.

20-04

NBB filing Annual accounts filed

fiscal year 2020 · micro schema · 263 days late

2020

31-12

Financial Back to profitnet €184

Net result €184 after one loss-making year.

31-10

NBB filing Annual accounts filed

fiscal year 2019 · micro schema · 92 days late

2019

31-12

Financial Liquidity triplescurrent ratio 5.72

Current ratio from 1.83 to 5.72; short-term debt falls from €37k to €27k.

14-09

NBB filing Annual accounts filed

fiscal year 2018 · micro schema · 45 days late

2018

29-08

NBB filing Annual accounts filed

fiscal year 2017 · micro schema · 29 days late

2017

30-08

NBB filing Annual accounts filed

fiscal year 2016 · micro schema · 30 days late

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

3 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, Thuin · 1 establishment unit since 2014

establishment The establishment unit on the map

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.

Rue de l' Yser(THL) 38/16536 Thuin

Ground area

295 m²

Building footprint

157 m²

Parcel 56077D0552/00Y002, Wallonia. Linked by address, not a title deed.

1 establishment unit

PARECO CONSTRUCT

Rue de l' Yser(THL) 38, 6536 ThuinManufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials

since 20142.233.064.417

1 parcel

Wallonia 1 (100%)