Summary
Conclusion
the dossier summarised in one paragraphThe computed 12-month bankruptcy probability of pgb-Holding is 0.2% (very low). The 2025 annual accounts show equity of €41.44M and a net result of €-2.68M. Its solvency ranks better than 47% of 297 sector peers (fiscal year 2025). The company has been active since 2024 and the Belgian State Gazette contains no insolvency or warning signals.
Based on the State Gazette, CBE and 1 annual account.
Bankruptcy probability (12 mo)
Checked model v1 · free for everyone0.2%
Very low
0%0,5%1,5%4%10%≥25%
Lower-failure-rate sector
−Young company
+Annual accounts: healthy financial profile
−
Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?
Trust signals
2 signalsYoung company
Founded in 2024, under 3 years, statistically higher risk.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No administrative flags
Financials
Turnover€1.54M
EBIT margin-35.8%
Net result€-2.68M
Working capital€-2.17M
Annual accounts & ratios
Source: NBB · 2025Annual accounts filed on 06-07-2026 with the NBB · fiscal year 2025 · volledig
Sector comparison
Fiscal year 2025 · NACE 70, Head offices & management consulting · compared within the same schema type (full schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 39.1% | 42.2% | |
| Net result | €-2.68M | €57k | |
| Equity | €41.44M | €207k | |
| Total assets | €106.08M | €690k |
Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.
| Fiscal year | 2025 |
|---|---|
| Revenue | €1.54M |
| EBITDA | - |
| Net profit | €-2.68M |
| Cash flow | - |
| Staff costs | - |
| Income taxes | - |
| Dividends | - |
| Total assets | €106.08M |
| Equity | €41.44M |
| Debt | €64.64M |
| of which ≤ 1y | €3.87M |
| of which > 1y | €59.95M |
| Working capital | €-2.17M |
| Employees (FTE) | - |
Ratios (computed)
| 2025 | |
|---|---|
| Current ratio | 0.44 |
| Quick ratio | 0.44 |
| Working capital ratio | -2.0% |
| Solvency | 39.1% |
| Debt / equity | 1.56 |
| Long-term debt ratio | 1.45 |
| Interest coverage | - |
| Gross margin | - |
| Net margin | -173.8% |
| ROA | -2.5% |
| ROE | -6.5% |
| EBITDA margin | - |
| Days sales outstanding | 33d |
| Days payable outstanding | - |
| Inventory turnover | - |
| Days inventory (DSI) | - |
Balance-sheet composition 2025
Full annual accounts
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 |
|---|---|---|
| Balance sheet, Assets | ||
| TOTAL ASSETS | 20/58 | €106.08M |
| Fixed assets | 21/28 | €104.39M |
| Financial fixed assets | 28 | €104.39M |
| Current assets | 29/58 | €1.69M |
| Stocks & contracts in progress | 3 | €0 |
| Amounts receivable within one year | 40/41 | €151k |
| Cash & bank | 54/58 | €1.54M |
| Balance sheet, Equity & liabilities | ||
| TOTAL EQUITY & LIABILITIES | 10/49 | €106.08M |
| Equity | 10/15 | €41.44M |
| Contributions / capital | 10/11 | €44.12M |
| Accumulated profits (losses) | 14 | €-2.68M |
| Amounts payable | 17/49 | €64.64M |
| Amounts payable after one year | 17 | €59.95M |
| Amounts payable within one year | 42/48 | €3.87M |
| Trade debts payable within one year | 44 | €168k |
| Income statement | ||
| Turnover | 70 | €1.54M |
| Operating result | 9901 | €-552k |
| Financial income | 75 | €851k |
| Financial charges | 65 | €2.98M |
| Result before taxes | 9903 | €-2.68M |
| Net result for the period | 9904 | €-2.68M |
| Result to be appropriated | 9905 | €-2.68M |
Ratios computed by Checked.
Health barometer
FY 2025 · computed28
/ 100
Weak
Computed from 3 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Unlock the full score breakdown, per-year score history and the indicative credit limit with Plus.
See plans →Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Directors
Directors & mandates
7 directorsCurrent directors & mandates
-
Professional Financial Management BVLegal entityDaily management· perm. rep.: Frederik PennoitState Gazette act 25067493 (27-05-2025)Current27-05-2025 → present
-
Current24-04-2025 → present
-
Current24-04-2025 → present
-
Current24-04-2025 → present
-
Current24-04-2025 → present
-
Professional Financial ManagementLegal entityDirector· perm. rep.: PENNOIT FrederikState Gazette act 25327837 (24-04-2025)Current24-04-2025 → present
-
Current24-04-2025 → present
Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.
Insolvency mandates
No insolvency mandates (liquidators, administrators) on record for this company.
Legal Structure
| NACE primary | Activiteiten van hoofdkantoren(70100) |
| Legal form | Private limited company(610) |
| Incorporation | 19-12-2024 |
| Status | Active |
| Postal code | 9090 |
Structure & network
Connections & network
7 connected companiesGroup structure
Parent · 2 subsidiaries · 1 location
Control→
Parent · 2 subsidiaries · 1 location
Control→
Parent · 2 subsidiaries · 1 location
Control→
Parent · 1 subsidiary · 1 location
Control→
Linked via shared directors
viaNicolas D’heygere · Director
→
Network connections
Shared corporate director
→
Shared corporate director
→
Connections derived from shared directors, addresses, shareholders and group structure in the Belgian State Gazette.
Locations & real estate
Establishment units
1 locationpgb-Holding
since 20252.371.078.292
Physical sites registered in the Crossroads Bank for Enterprises (CBE).
Parcels1
Ground area3.7 ha
Buildings1
Building footprint1.1 ha
Volume (LiDAR)107,420 m³
Tallest building10.9 m · ±3 fl.
Real-estate footprint
Source: CBE × cadastre · address linkingParcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44040C0365/00C000 | Flanders | 3.7 ha | 1 · 1.1 ha | 10.9 m · 3 fl. |
Methodology
via registered seat: 1
1 of 1 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Publications
Lifecycle & Insolvency Signals
No insolvency signals in the Belgian State Gazette
Belgisch Staatsblad · acts
6 acts Address history · 1
24-04-2025
v3.2
All acts · 6
updated 2 months ago
2026
21-05-2026 General meeting · Auditor mandate · Permanent representative · Mandate compensation
- Filing: 2026-05-07 · pgb-Holding
- General meeting: 2026-04-10 · pgb-Holding
- Auditor mandate: end: 2027-12-31, term: drie jaar, start: 2025-12-31 · pgb-Holding
- Permanent representative · FIGURAD BEDRIJFSREVISOREN BV
- Mandate compensation: vast bedrag geïndexeerd in functie van de schommelingen van het indexcijfer der consumptieprijzen · pgb-Holding
- Approval: 2026-04-10 · pgb-Holding
- Representation rule · pgb-Holding
- Publication: 2026-05-21
- Act object: Benoemingen
Summary:
General meeting · Auditor mandate · Permanent representative · Mandate compensation
2025
17-11-2025 Articles of association amended
Summary:
v3.2
06-11-2025 Articles of association amended
Summary:
v3.2
27-05-2025 Frederik Pennoit appointed as daily management
24-04-2025 Registered office moved from Antwerpen to Merelbeke-Melle, Gontrode
- Jan Van Rijswijcklaan 162, 2020 Antwerpen → Heirweg 318, 9090 Merelbeke-Melle, Gontrode
Summary:
v3.2
2024
23-12-2024 Incorporation of a new BV
Summary:
oprichting
Analysis
Snowflake analysis
financial profile on 5 axes36
/ 100
Fragile profile, watch profitability in particular.
Computed on 4 of 5 axes. Not measured: growth. An unmeasured axis is not a zero: no data was read for it.
Health
28
Profitability
0
Solvency
49
Growth
-
Stability
67
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verdict per customer and amountSimilar
Similar companies
Same sector, ranked by comparable sizeCompany registry
Company registry (CBE)
Crossroads BankActivities
Activiteiten van hoofdkantoren70100Overige financiële dienstverlening, neg64999
Primary activity highlighted.
Names & trade names
| Legal nameNL | pgb-Holding |
Registered office
Gontrode Heirweg 318
9090 Merelbeke-Melle, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.