Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Shrinking team NBB
FTE fell two years in a row, from 25 to 17.1.
Financials
Financial year 2025
Pegase Travel from Gent, company number BE0704694112, closed financial year 2025 with a result of € 29,403 after tax. For that financial year Pegase Travel recorded revenue of € 20.1 million and equity of € 893,749. Compared with financial year 2024, the result moved from € -1.5 million to € 29,403. Profitable, and profit is growing. The buffer is growing. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on November 20, 2025.
€ 893,749
▲ 3% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 29,403
▲ still € 1.5 million loss in 2024
Profit after tax over the fiscal year.
€ 2.6 million
▲ 26% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € -2.1 million.
People and assets in 2025
17.1
▼ 6.9 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 1.4 million
▼ 26% vs 2024
€ 83,000 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 37,186
▲ € 34,136 vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 1.8 million
▲ 5% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 36 days on average.
€ 159,411
▼ 16% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 15,451,992 | € 16,550,506 | € 17,589,590 | € 20,117,807 | ▲ 14% |
| Profit after taxes | € 412,045 | € 1,172,093 | € -1,485,397 | € 29,403 | ▲ € 1.5 million |
| Equity | € 1,177,651 | € 2,349,744 | € 864,346 | € 893,749 | ▲ 3% |
| Total debts | € 6,664,368 | € 5,342,632 | € 5,654,917 | € 5,754,735 | ▲ 2% |
| Cash | € 3,867,032 | € 3,335,932 | € 2,100,467 | € 2,639,293 | ▲ 26% |
| Retained profit | € -1,822,349 | € -650,256 | € -2,135,654 | € -2,106,251 | ▲ € 29,403 |
| Balance sheet total | € 7,845,019 | € 7,695,376 | € 6,522,263 | € 6,651,484 | ▲ 2% |
| Employees (FTE) | 24.9 | 25 | 24 | 17.1 | ▼ 6.9 |
Key figures of Pegase Travel, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 30 April 2027.
What happened to Pegase Travel?
What happened at Pegase Travel in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Alain Grillaert stepped down as director. NBB
- Pater Patriae CommV stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 29,403. Source: NBB ↗
- Alain Grillaert became a director. NBB
- Pater Patriae CommV became a director. NBB
- New establishment in Gent. KBO
- Start of the company according to the CBE. KBO
In short
From € 412,045 profit in 2022 to € 29,403 profit in 2025.
Paid € 32,948 in corporate taxes since 2022.
Best year ever: 2023, with € 1.2 million profit.
Pays suppliers within 36 days on average.
Management
The stake of PATER PATRIAE comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
Pegase TravelThe shares are held by PATER PATRIAE (100%).
Directors
According to the 2025 annual accounts
Alain Grillaert
Director
Also active at: Vectis Partners, BOESMANSKOP, PATER PATRIAE, Oxygen, Exclusive Destinations Travel, VM Workwear Group, Doornroosje Bis
since 2019 · until 2025
Director · represented by Hans VANOORBEEK
Also active at: TIDE SOFTWARE, Exclusive Destinations Travel
since 2019 · until 2025
Shareholders
100%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Kortrijksesteenweg 1121 box /0103
9051 Gent
Kortrijksesteenweg 1121 box 103
9051 Gent
Active since 18 September 2018
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 6 companies are registered at this address.
All companies at this address →MAES Q - CONSULTING
€ 185,569 gross margin · 2025
TARAHUMARA
€ 112 gross margin · 2025
PATER PATRIAE same network
€ 48,000 revenue · 2025
CATCHH
€ 24,080 gross margin · 2025
Allegretto Festival Foundation
+1 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0704.694.112
- VAT number
- BE 0704.694.112
- Registered office
- Kortrijksesteenweg 1121 bus /0103, 9051 Gent
- Names & denominations
- Pegase Travel
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 18 September 2018
- Peppol
- Active · Active since 21 Oct 2026
- Contact
- [email protected]
- Activities · NACE
Activiteiten van reisorganisatoren
Activiteiten van reisbureaus