LE PANISEL
ActiveFinancials · financial year 2025, abbreviated format
2025 annual accounts filed 31 days after the deadline Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00473564.
Annual accounts 2025 filed on 31-08-2026 at the NBB all 32 filings
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result for 2025 is 17% lower than in 2024 and the lowest since 2021. It is the second fall in a row.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
Use the arrow keys on the chart for the figures per year.
Companies with the same profile, two years later
Historical observationIn July 2024, 4,685 companies had the same profile as LE PANISEL has now. Two years later, 1.1% had gone bankrupt and 96.9% were still going.
- Small
- 20 years or older
- solvency 10 to 30%
- a profit under 5% of the balance sheet
The bankruptcy probability of LE PANISEL itself is higher: 1.7% within 12 months. It rests on far more data about LE PANISEL than the profile alone.
Test of the method
The method was tested on the 497,445 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 4,685 companies, not a prediction for LE PANISEL. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | - | €32,761 | €39,180 | €34,686 | €37,322 | €37,452 | €90,711 | €43,273 | ▼ 52.3% |
| Non-recurring operating income76A | - | - | - | - | - | €3,849 | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €5,754 | €10,624 | €9,823 | €11,737 | €7,481 | ▼ 36.3% |
| Remuneration, social security and pensions62 | - | - | - | - | - | - | €62,391 | €8,630 | ▼ 86.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €12,430 | €12,430 | €12,430 | €12,430 | €11,277 | €11,677 | €11,677 | €11,677 | = |
| Other operating charges640/8 | - | - | - | €6,057 | €6,384 | €7,493 | €7,311 | €7,574 | ▲ 3.6% |
| Gross operating margin9900 | €26,019 | €26,000 | €32,856 | €28,932 | €26,698 | €31,478 | €90,916 | €35,792 | ▼ 60.6% |
| Operating profit (loss)9901 | €8,578 | €8,379 | €15,471 | €10,445 | €9,037 | €12,307 | €9,537 | €7,911 | ▼ 17.0% |
| Financial charges65/66B | - | - | - | €3,978 | €3,454 | €2,899 | €2,479 | €1,922 | ▼ 22.5% |
| Recurring financial charges65 | €7,721 | €6,475 | €5,675 | €3,978 | €3,454 | €2,899 | €2,479 | €1,922 | ▼ 22.5% |
| Profit (loss) for the period before taxes9903 | €858 | €1,904 | €9,795 | €6,467 | €5,583 | €9,409 | €7,057 | €5,988 | ▼ 15.1% |
| Profit (loss) for the period9904 | €858 | €1,904 | €9,795 | €6,467 | €5,583 | €9,409 | €7,057 | €5,988 | ▼ 15.1% |
| Transfer from tax-exempt reserves789 | - | - | - | €1,638 | €1,638 | €1,638 | €1,638 | €1,638 | = |
| Profit (loss) for the period to be appropriated9905 | €2,495 | €3,541 | €11,433 | €8,105 | €7,221 | €11,046 | €8,695 | €7,626 | ▼ 12.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €655,054 | €646,896 | €634,467 | €625,268 | €603,762 | €597,480 | €607,811 | €590,589 | ▼ 2.8% |
| Fixed assets21/28 | €645,155 | €635,197 | €622,768 | €610,338 | €601,417 | €589,740 | €598,403 | €586,725 | ▼ 2.0% |
| Tangible fixed assets22/27 | €645,155 | €635,197 | €622,768 | €610,338 | €601,417 | €589,740 | €598,403 | €586,725 | ▼ 2.0% |
| Land and buildings22 | - | - | - | €610,338 | €601,417 | €589,740 | €598,403 | €586,725 | ▼ 2.0% |
| Current assets29/58 | €9,899 | €11,699 | €11,699 | €14,930 | €2,345 | €7,741 | €9,409 | €3,864 | ▼ 58.9% |
| Current investments50/53 | €9,899 | - | - | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | - | - | - | €731 | €1,345 | €6,741 | €7,409 | €1,864 | ▼ 74.8% |
| Deferred charges and accrued income490/1 | - | - | - | €14,199 | €1,000 | €1,000 | €2,000 | €2,000 | = |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €655,054 | €646,896 | €634,467 | €625,268 | €603,762 | €597,480 | €607,811 | €590,589 | ▼ 2.8% |
| Equity10/15 | €41,044 | €42,947 | €52,743 | €59,210 | €64,793 | €74,291 | €81,349 | €87,337 | ▲ 7.4% |
| Contributions10/11 | €69,410 | €69,410 | €69,410 | €69,410 | €69,410 | €69,500 | €69,500 | €69,500 | = |
| Capital10 | - | - | - | €69,410 | €69,410 | €69,500 | €69,500 | €69,500 | = |
| Issued capital100 | - | - | - | €69,410 | €69,410 | €69,500 | €69,500 | €69,500 | = |
| Reserves13 | €27,860 | €26,222 | €24,584 | €22,946 | €21,308 | €19,671 | €18,033 | €16,395 | ▼ 9.1% |
| Tax-exempt reserves132 | - | - | - | €22,946 | €21,308 | €19,671 | €18,033 | €16,395 | ▼ 9.1% |
| Profit (loss) carried forward14 | -€56,226 | -€52,685 | -€41,252 | -€33,146 | -€25,926 | -€14,879 | -€6,184 | €1,442 | - |
| Amounts payable17/49 | €614,010 | €603,949 | €581,724 | €566,058 | €538,969 | €523,189 | €526,463 | €503,253 | ▼ 4.4% |
| Amounts payable after more than one year17 | €278,992 | €253,718 | €238,212 | €222,522 | €207,032 | €191,252 | €174,263 | €158,573 | ▼ 9.0% |
| Financial debts170/4 | - | - | - | €79,375 | €63,585 | €47,895 | €32,205 | €16,515 | ▼ 48.7% |
| Other amounts payable178/9 | - | - | - | €143,147 | €143,447 | €143,358 | €142,058 | €142,058 | = |
| Amounts payable within one year42/48 | €335,019 | €348,506 | €343,512 | €341,936 | €330,237 | €330,237 | €351,200 | €343,680 | ▼ 2.1% |
| Current portion of amounts payable after more than one year42 | - | - | - | €16,273 | €15,690 | €15,690 | €15,690 | €15,690 | = |
| Trade debts44 | €3 | €3 | €3 | €3 | - | - | - | - | - |
| Suppliers440/4 | - | - | - | €3 | - | - | - | - | - |
| Other amounts payable47/48 | - | - | - | €325,659 | €314,547 | €314,547 | €335,510 | €327,990 | ▼ 2.2% |
| Accrued charges and deferred income492/3 | - | - | - | €1,600 | €1,700 | €1,700 | €1,000 | €1,000 | = |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €858 | €1,904 | €9,795 | €6,467 | €5,583 | €9,409 | €7,057 | €5,988 | ▼ 15.1% |
| + Depreciation and write-downs630 | €12,430 | €12,430 | €12,430 | €12,430 | €11,277 | €11,677 | €11,677 | €11,677 | = |
| Operating cash flow (approximation) | €13,287 | €14,333 | €22,225 | €18,897 | €16,860 | €21,086 | €18,734 | €17,665 | ▼ 5.7% |
| Investment in fixed assets (approximation) | - | -€2,472 | €0 | €0 | -€2,356 | €0 | -€20,340 | €0 | - |
| Change in cash | - | - | - | - | €614 | €5,396 | €668 | -€5,545 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 32 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 31-08-2026 | 2026-00473564 | NBB |
| 31-12-2024 | micro format | 25-09-2025 | 2025-00507304 | |
| 31-12-2023 | micro format | 05-06-2024 | 2024-00115739 | |
| 31-12-2022 | micro format | 29-08-2023 | 2023-00404190 | |
| 31-12-2021 | micro format | 28-06-2022 | 2022-20158091 | |
| 31-12-2020 | micro format | 24-08-2021 | 2021-53600136 | |
| 31-12-2019 | micro format | 30-11-2020 | 2020-74200153 | |
| 31-12-2018 | micro format | 30-08-2019 | 2019-59400119 | |
| 31-12-2017 | micro format | 11-09-2018 | 2018-62800516 | |
| 31-12-2016 | full format | 03-02-2017 | 2017-04100455 |