Equity
€17.2m ▲ 10.4%
LIEVEN DEVOS has made a profit in every financial year since 2013.
LIEVEN DEVOS
Overview
Lifetime
13 annual accounts with figures on one time axispeak €5.2m (2022)
-not published
peak €3.8m (2023)
€1.6m▼ 11.5%
peak €17.2m (2025)
€17.2m▲ 10.4%
€993,738▼ 42.2%
peak 40.1 FTE (2022)
39.7 FTE▲ 0.3%
Board3 names since 2013
1 directorPANNAERSHOEK
Owners
100%PANNAERSHOEK
Documentsfilings and deeds
28-01-202692 days before the deadline
2025financial year
Debts from €1.7m to €993,738Cash from €1.7m to €4.7m
Key points
from the 2025 annual accountsPayment terms
18 days to suppliers
LIEVEN DEVOS pays its suppliers 22 days earlier than in 2024. Customers pay 3 days earlier.
Liquidity
17.77 was 9.96 in 2024
Short-term debts fell from €1.7m to €993,738.
Filings
13 annual accounts since 2013
Two of the last ten came late. The 2021 accounts came latest: 9 days after the end of the period.
Board
2 joined
New directors. Latest change 01-07-2026 · 3 in office.
Position in the sector
94.5%
Higher solvency than 95% of companies in fabricated metal products. Sector median 45.5% · 834 companies.
Checked score
97
Excellent
Financially stronger than 80% of small companies in fabricated metal products (NACE 25)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
< 0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.3% across 748 companies (NACE 25, small).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.2%
01-2025: 0.2%● unchanged vs 12-2024
02-2025: 0.2%● unchanged vs 01-2025
03-2025: 0.2%● unchanged vs 02-2025
04-2025: 0.3%▲ +0.1 percentage points vs 03-2025highest value
05-2025: 0.1%▼ -0.2 percentage points vs 04-2025
06-2025: 0.1%● unchanged vs 05-2025
07-2025: 0.1%● unchanged vs 06-2025
08-2025: 0.1%● unchanged vs 07-2025
09-2025: 0.1%● unchanged vs 08-2025
10-2025: 0.1%● unchanged vs 09-2025
11-2025: 0.1%● unchanged vs 10-2025
12-2025: 0.1%● unchanged vs 11-2025
01-2026: 0.1%● unchanged vs 12-2025
02-2026: < 0.1%▼ -0.1 percentage points vs 01-2026
03-2026: < 0.1%● unchanged vs 02-2026
04-2026: < 0.1%● unchanged vs 03-2026
05-2026: < 0.1%● unchanged vs 04-2026
06-2026: < 0.1%● unchanged vs 05-2026
07-2026: < 0.1%● unchanged vs 06-2026
08-2026: < 0.1%● unchanged vs 07-2026
09-2026: < 0.1%● unchanged vs 08-2026
10-2026: < 0.1%● unchanged vs 09-2026lowest value
11-2026: < 0.1%● unchanged vs 10-2026lowest value
Financial strengthStrong
Score breakdown
lowers risk
Liquidity: current ratio 17.77, cash €4.7m
Equity €17.2m (94.5% of total assets)
Founded in 2013
Profit of €1.6m (financial year 2025)
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 25, small). It does better than 94% of them on solvency, 93% on liquidity, 86% on profitability and 48% on growth.
The bankruptcy probability was computed on 07-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 30-09-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 17,811 companies had the same profile as LIEVEN DEVOS has now. Each dot stands for 45 companies, two years later.
96.5%
were still trading
3.2%
stopped another way
0.3%
went bankrupt
That fits the bankruptcy probability of LIEVEN DEVOS itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,447 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 17,811 companies, not a prediction for LIEVEN DEVOS. 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.
Credit verdict
Credit of up to €1,100,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 17.77 (9.96 in 2024), above the usual 1.5. Short-term debt is 5.5% and cash 26% of total assets. 5.5% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
5 signals, none raises the risk
Five signals.
lowers riskneutral
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 28-01-2026, 92 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
92 days early
2024
28 days early
2023
6 days early
2022
9 days late
2021
9 days late
2020
on the day
2019
1 day early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 16 days before the deadline. In the sector (NACE 25), the median for financial year 2024 was 7 days before the deadline, and 35% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The financial year that closed on 30-09-2026 is due by 30-04-2027. Nothing is late today. The company usually files around 25 April (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
30-09-2026 year end08-11-2026 today30-04-2027 deadline
Board and ownership
- PANNAERSHOEK 100%score 93equity €22.5m (2026) · 31-03-2026 annual accounts of PANNAERSHOEK
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0533869093
Appointment: PANNAERSHOEK (director)
Permanent representative: Gabriël Devos · General meeting of 26-03-2021 · Gazette deed
New establishment in Wingene
SemperFi, Flandria 6
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| LIEVEN DEVOS Wingene | €11.5m | 17.2% | 94.5% | 39.7 |
| TKM INDUSTRIES Liège | €13.3m | 6.3% | 24.1% | 56 |
| LAMPRE BENELUX Liège | €26.8m | 3.1% | 53.4% | 28.1 |
| STUMACO ENG. Staden | €13.9m | 38.7% | 59.3% | 43.9 |
| INDUSTRIELE TOELEVERING KACHTEM Izegem | €17.6m | -1.6% | 32.8% | 56.7 |
| NEW LASER Saint-Vith | €13.4m | 7.7% | 52.9% | 32.7 |
| NLMK MANAGE STEEL CENTER Manage | €10.7m | 3.1% | 67.1% | 65.9 |
Grey: the largest companies of the sector (fabricated metal products (NACE 25)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as LIEVEN DEVOS: machining of metals (NACE 25530). They are comparable in size and age: total assets between €8.7m and €21m, founded between 2000 and 2013.
Official details
Source: KBO- Status
- Active since 30-04-2013Normal situation
- Activity
- Machining of metalsNACE 25530and 1 other
- Joint committees
- 111Metal, mechanical and electrical engineering
- 209White-collar workers in metal manufacturing · annual accounts 30-09-2025
- Establishment units
- 2.393.290.0078750 Wingene, since 30-04-2013
- 2.219.617.9408750 Wingene, since 02-05-2013and 2 others
- Financial year end
- 30 September
- Peppol
- Reachable since 21-10-2026
Annual accounts to 30-09-2025
- €11.5m▼ 10.0%
- €1.6m▼ 11.5%
- €17.2m▲ 10.4%
- €18.2m▲ 5.1%
- Employeeson 30-09-2025
- 40▼ 2.4%
- Filing
- Filed on 28-01-2026, 92 days before the end of the filing period
Insights on LIEVEN DEVOS
LIEVEN DEVOS has been active since 2013 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €17.2m and a net result of €1.6m.
Equity has been growing by about 22% per year since 2019. Its solvency ranks better than 95% of 834 sector peers (NACE 25, financial year 2025).
The computed 12-month bankruptcy probability is below 0.1% (very low).
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Financials
Annual accounts 2025
full format, filed on 28-01-2026, 92 days before the deadline€11.5m
▼ 10.0%
€2.0m
▼ 7.0%
€2.2m
▼ 7.6%
€1.9m
▼ 11.5%
94.5%
▲ 4.5 percentage points
17.77
▲ 7.81
Money flows
of every €100 of turnover, €14.09 remains as profit in 2025Balance sheet
balance sheet total €18.2m on 30-09-2025What the company ownsHow it is paid for
in €m
in €m
Position in the sector
94.5%
Higher than 95% of 834 companies in 2025.
17.77
Higher than 95% of 826 companies in 2025.
8.9%
Higher than 74% of 831 companies in 2025.
LIEVEN DEVOS
Middle half of the sector
80% of the sector
Full accounts in fabricated metal products (NACE 25)
Net result: top quarter · Equity: top quarter · Balance sheet total: top quarter · Working capital: top quarter · Staff: middle half
Staff
Men and women30% women
27.9 men and 11.8 women in full-time equivalents in 2025.
€62,373
Men €71,185, women €41,538 per full-time equivalent. Jobs differ, so this is not a pay gap.
-1 person
people who joined
people who left
In 2025, 3 people joined and 4 left.
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||||
20/58 |
18.2m | 17.3m | 15.7m | 11.6m | 8.8m | 8.0m | 6.8m | 5.5m | 5.5m | 4.8m | 4.2m | 3.9m | 3.3m | |
21/28 |
502,514 | 644,325 | 734,131 | 792,006 | 787,112 | 872,515 | 469,277 | 376,970 | 412,012 | - | 537,936 | 622,909 | 585,630 | |
22/27 |
502,514 | 644,325 | 734,131 | 792,006 | 787,112 | 866,515 | 463,277 | 370,970 | 406,012 | 363,792 | 531,936 | 616,909 | 579,630 | |
23 |
276,586 | 488,176 | 579,903 | 664,247 | 690,882 | 756,542 | 414,581 | 284,615 | 321,449 | 292,018 | 430,113 | 551,503 | 526,909 | |
24 |
138,788 | 148,121 | 154,229 | 127,759 | 96,229 | 109,973 | 48,696 | 86,355 | 84,564 | 71,774 | 101,823 | 65,406 | 52,721 | |
25 |
9,366 | 3,394 | - | - | - | - | - | - | - | - | - | - | - | |
27 |
77,773 | 4,634 | - | - | - | - | - | - | - | - | - | - | - | |
28 |
- | - | - | - | - | 6,000 | 6,000 | 6,000 | 6,000 | 6,000 | 6,000 | 6,000 | 6,000 | |
29/58 |
17.7m | 16.6m | 15.0m | 10.8m | 8.0m | 7.2m | 6.3m | 5.1m | 5.1m | 4.4m | 3.6m | 3.3m | 2.7m | |
29 |
35,000 | 51,250 | 67,500 | 83,750 | 100,000 | 100,000 | - | - | - | - | - | - | - | |
291 |
35,000 | 51,250 | 67,500 | 83,750 | 100,000 | 100,000 | - | - | - | - | - | - | - | |
3 |
1.8m | 1.6m | 1.5m | 1.1m | 1.8m | 1.4m | 1.2m | 1.3m | 1.0m | 937,424 | 910,972 | 806,660 | 760,990 | |
30/36 |
1.8m | 1.6m | 1.5m | 1.1m | 1.8m | 1.4m | 1.2m | 1.3m | 1.0m | 937,424 | 910,972 | 806,660 | 760,990 | |
30/31 |
1.6m | 1.4m | 1.3m | - | - | - | - | - | - | - | - | - | - | |
34 |
215,326 | 249,043 | 244,147 | - | - | - | - | - | - | - | - | - | - | |
40/41 |
9.7m | 8.1m | 7.8m | 5.0m | 3.9m | 3.2m | 3.6m | 2.8m | 2.7m | 2.1m | 1.6m | 1.7m | 1.4m | |
40 |
1.9m | 2.2m | 3.2m | 2.5m | 2.3m | 1.9m | 2.3m | 1.5m | 1.6m | 1.2m | 1.3m | 1.4m | 1.1m | |
41 |
7.7m | 5.9m | 4.6m | 2.5m | 1.6m | 1.3m | 1.3m | 1.3m | 1.1m | 904,288 | 308,645 | 322,663 | 308,750 | |
50/53 |
1.4m | 5.1m | 5.3m | - | - | - | - | - | - | - | - | - | - | |
51/53 |
1.4m | 5.1m | 5.3m | - | - | - | - | - | - | - | - | - | - | |
54/58 |
4.7m | 1.7m | 263,812 | 4.6m | 2.2m | 2.5m | 1.5m | 983,625 | 1.3m | 1.3m | 1.1m | 732,624 | 540,587 | |
490/1 |
75,531 | 74,951 | 54,200 | - | - | - | - | 7,106 | - | - | - | - | - | |
| Balance sheet: equity and liabilities | ||||||||||||||
10/49 |
18.2m | 17.3m | 15.7m | 11.6m | 8.8m | 8.0m | 6.8m | 5.5m | 5.5m | 4.8m | 4.2m | 3.9m | 3.3m | |
10/15 |
17.2m | 15.6m | 13.7m | 10.0m | 7.9m | 6.3m | 5.3m | 4.4m | 3.8m | 3.2m | 2.7m | 2.1m | 1.3m | |
10/11 |
55,800 | 55,800 | 55,800 | 55,800 | 55,800 | 55,800 | 55,800 | 55,800 | 55,800 | - | 55,800 | 55,800 | 55,800 | |
10 |
- | - | - | - | - | - | - | - | - | 55,800 | - | - | - | |
100 |
- | - | - | - | - | - | 55,800 | 55,800 | 55,800 | 55,800 | 55,800 | 55,800 | 55,800 | |
13 |
637,080 | 1.7m | 1.5m | 2.2m | 2.0m | 1.4m | 1.3m | 1.0m | 780,580 | 470,580 | 315,580 | 36,968 | 36,968 | |
130/1 |
- | - | - | - | - | 5,580 | - | - | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 5,580 | 5,580 | 5,580 | 5,580 | 5,580 | 5,580 | 5,580 | |
1311 |
- | - | - | - | - | 5,580 | - | - | - | - | - | - | - | |
132 |
631,500 | 1.7m | 1.5m | 2.2m | 2.0m | 1.4m | 1.3m | 1.0m | 775,000 | 465,000 | 310,000 | 31,388 | 31,388 | |
133 |
5,580 | 5,580 | 5,580 | 5,580 | 5,580 | - | - | - | - | - | - | - | - | |
14 |
16.5m | 13.8m | 12.1m | 7.7m | 5.8m | 4.9m | 3.9m | 3.3m | 3.0m | 2.7m | 2.3m | 2.0m | 1.2m | |
17/49 |
993,738 | 1.7m | 2.0m | 1.6m | 908,542 | 1.7m | 1.5m | 1.0m | 1.6m | 1.6m | 1.5m | 1.8m | 2.0m | |
17 |
- | - | - | - | - | - | - | - | - | - | 107,139 | 227,736 | 67,708 | |
170/4 |
- | - | - | - | - | - | - | - | - | - | 107,139 | 227,736 | 67,708 | |
42/48 |
993,738 | 1.7m | 2.0m | 1.6m | 903,751 | 1.7m | 1.5m | 1.0m | 1.6m | 1.6m | 1.4m | 1.6m | 1.9m | |
42 |
- | - | - | - | - | - | - | - | - | 116,814 | 120,597 | 176,353 | 68,733 | |
43 |
- | - | - | - | - | - | - | - | - | - | - | - | 443,360 | |
430/8 |
- | - | - | - | - | - | - | - | - | - | - | - | 443,360 | |
44 |
337,378 | 881,451 | 1.3m | 623,036 | 513,080 | 842,988 | 642,556 | 292,553 | 681,358 | 257,623 | 166,601 | 189,725 | - | |
440/4 |
337,378 | 881,451 | 1.3m | 623,036 | 513,080 | 842,988 | 642,556 | 292,553 | 681,358 | 257,623 | 166,601 | 189,725 | - | |
45 |
656,360 | 523,571 | 636,511 | 910,926 | 376,789 | 638,260 | 507,264 | 360,587 | 357,320 | 232,452 | 232,527 | 394,598 | 247,331 | |
450/3 |
305,641 | 175,749 | 318,532 | 598,149 | 87,175 | 361,225 | 232,548 | 127,948 | 159,390 | 93,267 | 109,875 | 331,336 | 107,327 | |
454/9 |
350,719 | 347,823 | 317,980 | 312,777 | 289,613 | 277,035 | 274,716 | 232,638 | 197,929 | 139,185 | 122,652 | 63,262 | 140,004 | |
47/48 |
0 | 264,807 | 0 | 101,966 | 13,882 | 226,169 | 317,150 | 368,562 | 599,398 | 957,283 | 867,650 | 819,264 | 1.1m | |
492/3 |
0 | 50,630 | 27,612 | - | 4,791 | 2,935 | - | - | - | - | - | - | - | |
| Income statement | ||||||||||||||
70/76A |
11.7m | 12.9m | 15.4m | - | - | - | - | - | - | - | - | - | - | |
70 |
11.5m | 12.7m | 15.3m | - | - | - | - | - | - | - | - | - | - | |
74 |
228,628 | 140,684 | 115,945 | - | - | - | - | - | - | - | - | - | - | |
76A |
0 | 7,000 | 22,402 | - | - | - | - | - | - | - | - | 4,262 | 15,566 | |
9900 |
- | - | - | 5.2m | 4.2m | 3.6m | 3.2m | 2.7m | 2.5m | 2.0m | 2.2m | 2.4m | 1.8m | |
60/66A |
9.7m | 10.8m | 10.5m | - | - | - | - | - | - | - | - | - | - | |
60 |
4.5m | 5.4m | 5.5m | - | - | - | - | - | - | - | - | - | - | |
600/8 |
4.7m | 5.5m | 5.9m | - | - | - | - | - | - | - | - | - | - | |
609 |
-203,719 | -88,857 | -386,935 | - | - | - | - | - | - | - | - | - | - | |
61 |
2.5m | 2.6m | 2.4m | - | - | - | - | - | - | - | - | - | - | |
62 |
2.5m | 2.3m | 2.2m | 2.1m | 1.9m | 1.8m | 1.7m | 1.5m | 1.4m | 965,774 | 902,476 | 919,519 | 941,937 | |
630 |
269,216 | 305,294 | 293,960 | 293,696 | 300,214 | 269,699 | 195,163 | 246,489 | 238,276 | 272,959 | 406,579 | 314,857 | 377,497 | |
631/4 |
1,273 | - | - | - | - | - | - | - | - | 44,653 | - | - | - | |
640/8 |
53,346 | 59,711 | 38,672 | 24,650 | 35,985 | 48,571 | 45,014 | 30,957 | 32,878 | 16,810 | 19,094 | 19,332 | 51,581 | |
66A |
- | - | 0 | 158 | - | - | 200 | - | - | - | - | 1,000 | 575 | |
9901 |
2.0m | 2.1m | 4.9m | 2.7m | 1.9m | 1.4m | 1.2m | 914,628 | 855,603 | 744,806 | 900,585 | 1.1m | 434,409 | |
75/76B |
290,833 | 367,707 | 155,583 | 269,047 | 97,999 | 74,979 | 85,709 | 116,014 | 112,130 | - | 72,210 | 63,867 | 53,759 | |
75 |
290,833 | 367,707 | 155,583 | 127,897 | 97,999 | 74,979 | 85,709 | 116,014 | 112,130 | 89,007 | 72,210 | 63,867 | 53,759 | |
751 |
260,606 | 358,309 | 99,489 | - | - | - | - | - | - | - | - | - | - | |
752/9 |
30,227 | 9,398 | 56,094 | - | - | - | - | - | - | - | - | - | - | |
76B |
- | - | - | 141,150 | - | - | - | - | - | - | - | - | - | |
65/66B |
25,065 | 34,662 | 63,526 | 40,918 | 37,191 | 31,000 | 37,826 | 63,722 | 81,537 | - | 90,834 | 58,919 | 47,578 | |
65 |
25,065 | 34,662 | 63,526 | 40,918 | 37,191 | 31,000 | 37,826 | 63,722 | 81,537 | 83,052 | 90,834 | 58,919 | 47,578 | |
650 |
5 | 2,453 | 536 | - | - | - | - | - | - | - | - | - | - | |
652/9 |
25,060 | 32,208 | 62,990 | - | - | - | - | - | - | - | - | - | - | |
9903 |
2.2m | 2.5m | 5.0m | 3.0m | 2.0m | 1.5m | 1.2m | 966,921 | 886,196 | 750,761 | 881,962 | 1.1m | 455,581 | |
67/77 |
622,104 | 629,421 | 1.3m | 859,058 | 435,187 | 446,039 | 364,630 | 370,850 | 245,576 | 241,321 | 292,409 | 375,028 | 151,492 | |
670/3 |
622,104 | 629,421 | 1.3m | - | - | - | - | - | - | - | - | - | - | |
9904 |
1.6m | 1.8m | 3.8m | 2.1m | 1.5m | 1.0m | 851,930 | 596,071 | 640,620 | 509,440 | 589,552 | 759,806 | 304,089 | |
789 |
1.1m | 467,679 | 686,953 | 620,000 | - | 155,000 | 64,271 | 46,097 | - | - | 31,388 | - | - | |
689 |
0 | 631,500 | 0 | 842,000 | 631,500 | 178,000 | 356,000 | 310,000 | 310,000 | 155,000 | 310,000 | - | - | |
9905 |
2.7m | 1.7m | 4.4m | 1.9m | 916,466 | 1.0m | 560,201 | 332,167 | 330,620 | 354,440 | 310,940 | 759,806 | 304,089 | |
| Appropriation of the result | ||||||||||||||
9906 |
16.5m | 13.8m | 12.1m | 7.7m | 5.8m | 4.9m | 3.9m | 3.3m | 3.0m | 2.7m | 2.3m | 2.0m | 1.2m | |
14P |
13.8m | 12.1m | 7.7m | 5.8m | 4.9m | - | - | - | - | 2.3m | - | - | - | |
| Social balance sheet | ||||||||||||||
9087 |
39.7 | 39.6 | 39.9 | 40.1 | 39.6 | 38 | 37.6 | 33.8 | 29.9 | 23 | 21.4 | 22.7 | 34.2 | |
Men (FTE)1003 |
27.9 | 27.5 | 27.3 | - | - | - | - | - | - | - | - | - | - | |
Women (FTE)1003 |
11.8 | 12.1 | 12.6 | - | - | - | - | - | - | - | - | - | - | |
Hours worked1013 |
64,177 | 62,034 | 61,623 | 64,639 | 62,022 | 60,438 | 59,520 | 52,954 | 47,643 | - | 33,129 | 35,042 | 22,709 | |
| Document | ||||||||||||||
The notes to these accounts have 53 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 28-01-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | full format | 28-01-2026 | 2026-00016599 | |
| 30-09-2024 | full format | 02-04-2025 | 2025-00061203 | |
| 30-09-2023 | full format | 24-04-2024 | 2024-00069851 | |
| 30-09-2022 | abbreviated format | 09-05-2023 | 2023-00084379 | |
| 30-09-2021 | abbreviated format | 09-05-2022 | 2022-20022673 | |
| 30-09-2020 | abbreviated format | 30-04-2021 | 2021-12100113 | |
| 30-09-2019 | abbreviated format | 29-04-2020 | 2020-10200154 | |
| 30-09-2018 | abbreviated format | 26-03-2019 | 2019-07600566 | |
| 30-09-2017 | abbreviated format | 27-04-2018 | 2018-10800480 | |
| 30-09-2016 | abbreviated format | 11-04-2017 | 2017-09200053 | |
| 30-09-2015 | abbreviated format | 29-03-2016 | 2016-07300293 | |
| 30-09-2014 | abbreviated format | 31-03-2015 | 2015-07800434 | |
| 30-09-2013 | abbreviated format | 28-04-2014 | 2014-09900561 |
Subsidies and aid
Flemish government 2024 to 2025, 3 entries, €2,119 awarded, €2,119 paid
| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 2 | €1,119 | €1,119 |
| 2024 | 1 | €1,000 | €1,000 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2.2m | 2.4m | 5.2m | 3.0m | 2.2m | 1.7m | 1.4m | 1.2m | 1.1m | 1.0m | 1.3m | 1.4m | 811,906 | ||
| 1.9m | 2.1m | 4.0m | 2.4m | 1.8m | 1.3m | 1.0m | 842,560 | 878,896 | 782,399 | 996,131 | 1.1m | 681,585 | ||
| 127,405 | 215,487 | 405,159 | 298,590 | 220,810 | 672,938 | 287,470 | 211,446 | 303,091 | 104,815 | 321,606 | 354,419 | 304,264 | ||
| 3.0m | 1.4m | -4.3m | 2.3m | -237,897 | 965,352 | 532,134 | -293,142 | -61,069 | 253,017 | 352,195 | 192,037 | - | ||
| 16.7m | 15.0m | 13.0m | 9.2m | 7.1m | 5.4m | 4.8m | 4.1m | 3.4m | 2.8m | 2.3m | 1.7m | 818,787 | ||
| 17.2% | 16.6% | 32.4% | - | - | - | - | - | - | - | - | - | - | ||
| 94.5% | 90.0% | 87.4% | 85.9% | 89.6% | 78.7% | 78.3% | 81.3% | 70.1% | 67.1% | 64.3% | 53.7% | 40.5% | ||
| 17.77 | 9.96 | 7.65 | 6.61 | 8.84 | 4.19 | 4.28 | 4.97 | 3.09 | 2.81 | 2.63 | 2.08 | 1.43 | ||
| 15.94 | 8.99 | 6.88 | 5.92 | 6.86 | 3.39 | 3.47 | 3.70 | 2.45 | 2.21 | 1.97 | 1.57 | 1.03 | ||
| 0.06 | 0.11 | 0.14 | 0.16 | 0.12 | 0.27 | 0.28 | 0.23 | 0.43 | 0.49 | 0.56 | 0.86 | 1.47 | ||
| 9.4% | 11.7% | 27.3% | 21.1% | 19.7% | 16.4% | 16.1% | 13.4% | 16.7% | 15.9% | 21.9% | 36.2% | 22.7% | ||
| 8.9% | 10.6% | 23.9% | 18.2% | 17.6% | 12.9% | 12.6% | 10.9% | 11.7% | 10.7% | 14.1% | 19.5% | 9.2% | ||
| over 100 | over 100 | over 100 | 74.11 | 59.76 | - | - | - | - | 12.25 | - | - | - | ||
| 61 days | 64 days | 76 days | - | - | - | - | - | - | - | - | - | - | ||
| 18 days | 40 days | 60 days | - | - | - | - | - | - | - | - | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Social balance sheet
| Item | 30-09-2025 | 30-09-2024 | 30-09-2023 | 30-09-2022 | 30-09-2021 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 40 | 41 | 42 | 42 | 44 |
| full-time | 32 | 33 | 36 | 35 | 37 |
| part-time | 8 | 8 | 6 | 7 | 7 |
| in full-time equivalents | 38.1 | 39 | 40 | 39.6 | 41.5 |
| 39.7 | 39.6 | 39.9 | 40.1 | 39.6 | |
| On a permanent contract | 39 | 39 | 40 | 39 | 40 |
| Joined | 3 | 6 | 9 | 6 | 13 |
| Left | 4 | 5 | 7 | 8 | 10 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
fixed assets acquired| Item | 30-09-2025 | 30-09-2024 | 30-09-2023 | 30-09-2022 | 30-09-2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €127,405 | €215,487 | €405,159 | €298,590 | €220,810 |
| €269,216 | €305,294 | €293,960 | €293,696 | €300,214 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Insights on LIEVEN DEVOS
The operating result for 2025 is 7% lower than in 2024 and the lowest since 2021. It is the second fall in a row.
Debt's share of the balance-sheet total falls from 10.0% to 5.5%. Equity is higher and debt is lower.
Large changes and their cause
- 2023 Net result +78% on 2022. The accounts now follow the full format, last year the abbreviated format.
Board & ownership
Board
3 directors, 2 in day-to-day management, last change in July 2026PANNAERSHOEK NV
Director, permanent representative Gabriël Devos
appointed by deed of 08-04-2021
term without a fixed end
also on the board of 3 other companies
listed in the 2025 annual accounts, filed on 28-01-2026
ISL CommV
Director and managing director, permanent representative Isabelle DEVOS
appointed by deed of 05-11-2026
term without a fixed end
also on the board of 5 other companies
Tromiluss CommV
Director and managing director, permanent representative Lieven DEVOS
appointed by deed of 05-11-2026
term without a fixed end
also on the board of 5 other companies
- ISL, Tromiluss
- Signing authorityThe articles say who may bind the company, for example by signing a contract.
- Each director alonedeed of 08-04-2021
Permanent representatives 3
Mandates through the years
3 names, the dashed line is todayLeadershipBoard
Mandates as a list
- PANNAERSHOEK
- Director, from 30-04-2013 to date
- ISL
- Director, appointed by deed of 05-11-2026, still in office
- Managing director, appointed by deed of 05-11-2026, still in office
- Tromiluss
- Director, appointed by deed of 05-11-2026, still in office
- Managing director, appointed by deed of 05-11-2026, still in office
Control
Parent
Equity €22.5m
Profit €981,133 in 2026 (profit €4.1m in 2025)
Checked score 93
Source: accounts PANNAERSHOEK 31-03-2026
100%
This company
LIEVEN DEVOS
Equity €17.2m
Profit €1.6m in 2025
Capital
- Contribution
- €55,800
- Shares
- 5,580
- Contribution per share
- €10
- Equity per share
- €3,076 in 2025
- Source
- 2025 annual accounts
Owners through the years
as the annual accounts name themOwners as a list
- PANNAERSHOEK
Source: lists of holdings in the owners' accounts
Articles of association
deed of 08-04-2021 (in Dutch)- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- Last Friday of March at 15:00
Network & group
Group
PANNAERSHOEK has 5 direct subsidiaries (accounts to 31-03-2026)Belgium 5 Year Equity Result
- BE Lieven Devos 2025€17.2m result €1.6m (2025)
- BE Devos Plaatbewerkingen 2026€10.9m result €1.6m (2026)
- BE Devos Agri 2025€2.7m result -€221,542 (2025)
- BE Devos Industrie 2025€2.7m result €307,396 (2025)
- BE Devos IM AP 2025€2.6m result -€40,373 (2025)
Source: list of holdings in the 31-03-2026 accounts of PANNAERSHOEK. Every holding stands with its own latest accounts.
At the same address
Ruddervoordestraat 30, 8750 Wingene · 6 other companies| PANNAERSHOEK
registered office since 28-12-2012 · founded in 2012 |
10 FTE (2026) 0508.928.118 |
| DEVOS PLAATBEWERKINGEN
registered office since 26-09-1991 · founded in 1991 |
64 FTE (2026) 0444.869.813 |
| DEVOS INDUSTRIE
registered office since 02-05-2013 · founded in 2013 |
total assets €7.8m (2025) 0533.870.380 |
| DEVOS AGRI
registered office since 28-04-2000 · founded in 2000 |
35 FTE (2025) 0471.418.317 |
| DEVOS IM AP
registered office since 30-04-2013 · founded in 2013 |
total assets €3.8m (2025) 0533.870.875 |
| Groep Devos
registered office since 01-07-2013 |
founded in 2013 0537.387.621 |
Connections & network
4 connected companiesThis company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Linked via shared directors
DEVOS PLAATBEWERKINGEN
Founded in 1991 · 64 FTE (2026)
→
DEVOS INDUSTRIE
Founded in 2013 · total assets €7.8m (2025)
→
DEVOS AGRI
Founded in 2000 · 35 FTE (2025)
→
DEVOS IM AP
Founded in 2013 · total assets €3.8m (2025)
→
Timeline
Timeline
25 events since 2013Board
Filings
Financial
Establishments
2014201620182020202220242026
Deadline for the 2026 accounts: 30-04-2027
2026
- General meeting, 01-07-2026
- Director appointment, ISL
- Director appointment, Tromiluss
- Permanent representative, Isabelle DEVOS
- Permanent representative, Lieven DEVOS
- Board composition, PANNAERSHOEK (director)
- Board composition, ISL (director)
- Board composition, Tromiluss (director)
- Board meeting, 01-07-2026
- Director appointment, ISL (managing director)
- Director appointment, Tromiluss (managing director)
Registered in the Peppol Directory Reachable for e-invoices through 0208:0533869093
Annual accounts 2025 filed PDFfull format · 92 days before the deadline
2025
Annual accounts 2024 filed PDFfull format · 28 days before the deadline
2024
Annual accounts 2023 filed PDFfull format · 6 days before the deadline
2023
Highest result from 2013 to 2025 net €3.8m ▲77.9% The operating result of €4.9m and the net result of €3.8m are both a record.
Equity above €10m equity €13.7m ▲37.6% With a profit in every financial year since 2013, equity grows to €13.7m.
Annual accounts 2022 filed PDFabbreviated format · 9 days late
2022
Annual accounts 2021 filed PDFabbreviated format · 9 days late
2021
Liquidity more than doubled current ratio 8.84 The current ratio rises from 4.19 to 8.84. Short-term debt falls from €1.7m to €903,751.
Annual accounts 2020 filed PDFabbreviated format · on the deadline day
Appointment: PANNAERSHOEK (director)Permanent representative: Gabriël Devos · General meeting of 26-03-20215 points ▸
- General meeting, 26-03-2021
- 5,580 shares
- Director appointment, PANNAERSHOEK
- Permanent representative, Gabriël Devos
- Registered office clause, Ruddervoordestraat 30, 8750 Wingene (Zwevezele)
- The deed holds 3 more points.
2020
Annual accounts 2019 filed PDFabbreviated format · 1 day before the deadline
2019
Equity above €5m equity €5.3m ▲19.2% With a profit in every financial year since 2013, equity grows to €5.3m.
Annual accounts 2018 filed PDFabbreviated format · 35 days before the deadline
2018
Annual accounts 2017 filed PDFabbreviated format · 3 days before the deadline
New establishment in Wingene SemperFi, Flandria 6
2017
Annual accounts 2016 filed PDFabbreviated format · 19 days before the deadline
2016
Annual accounts 2015 filed PDFabbreviated format · 32 days before the deadline
2015
Annual accounts 2014 filed PDFabbreviated format · 30 days before the deadline
2014
Equity above €2m equity €2.1m ▲56.8% With a profit in every financial year since 2013, equity grows to €2.1m.
Annual accounts 2013 filed PDFabbreviated format · 2 days before the deadline
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Identity
- Enterprise number
- 0533.869.093
- VAT number
- BE 0533.869.093
- Peppol ID
- 0208:0533869093
- Legal form
- Private limited company
- Status
- Active, normal situation
- Founded
- 30-04-2013
- Financial year
- ends on 30 September
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- Last Friday of March at 15:00deed of 08-04-2021 (in Dutch)
- Peppol
- Reachable since 21-10-2026Follow this company and you will hear the next morning if it leaves the Peppol register.
- Name
- LIEVEN DEVOS in Dutch
- Entity type
- Legal entity
- Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
- “Vlaams Gewest”deed of 08-04-2021 (in Dutch)
Activities
NACEBEL 2025VAT activities
25530
Machining of metals main activity
31009
Manufacture of furniture
Social security (RSZ) activities
25530
Machining of metals main activity
Joint committees annual accounts 30-09-2025
JC 111
Metal, mechanical and electrical engineering
JC 209
White-collar workers in metal manufacturing
Codes under NACEBEL 2008
VAT activities
25620
Manufacture of fabricated metal products, except machinery and equipment main activity
31092
Manufacture of furniture
Social security (RSZ) activities
25620
Manufacture of fabricated metal products, except machinery and equipment main activity
- PurposeThe purpose describes the activities the company may carry out under its articles.
- “Specifieke activiteiten; Beheer van een eigen roerend en onroerend vermogen; Bijzondere bepalingen; De aankoop en verkoop,zowel in groot-als…”deed of 08-04-2021 (in Dutch)
10 activities
- Specifieke activiteiten
- Beheer van een eigen roerend en onroerend vermogen
- Bijzondere bepalingen
- De aankoop en verkoop,zowel in groot-als in kleinhandel,de import en export,de vertegenwoordiging de commissiehandel van alle metalen,zowel ferro-metalen,non ferro-metalen en edelmetalen,evenals van alle soortgelijke,complementaire en substitutie-producten,die heden bestaan of in de toekomst zullen aangewend worden,afgewerkte producten in metaal,landbouwmachines,gereedschap,containers,bouwmaterialen,brandstoffen en oliën,sanitaire artikelen,dit alles in de meest ruime zin;
- De bewerkingen,verwerking,transformatie,assemblage,productie en plaatsing van onder punt één opgenomen artikelen in het algemeen,en in het bijzonder artikelen uit plaatijzer voor industrieel of voor professioneel gebruik,klein vakwerk en klein ketelwerk,laswerk,draaiwerk,ponswerk,freeswerk,plaatbewerkingen,smederij;
- De fabrikage,montage,het plaatsen,herstellen en onderhoud van alle toestellen en hun onderdelen,zowel ferro,non ferro,mechanisch,elektrisch en elektronisch;
- Metaalconstructies en metalen kunstwerken in de meest ruime zin,het onderhoud en de renovatie van bestaande inrichtingen en installaties,evenals alle montage,demontage en manipulatiewerken,het leggen van alle kabels en diverse leidingen;
- De handel,de productie,de transformatie,het verbouwen,het ruilen,het verhuren,van alle machines,en alle toebehoren,onderdelen en nevenproducten van machine,zowel nieuw als tweedehands;
- Aan-en verkoop van onroerende goederen in volle eigendom,opstal,vruchtgebruik en/of naakte eigendom.
- Algemene activiteiten
Registered office and establishments
4 establishments| Establishment | Since | Unit number |
|---|---|---|
| Hille-Zuid 29 8750 Wingene 52100 Warehousing and storage | 30-04-2013 | 2.393.290.007 |
| Ruddervoordestraat 30 registered office 8750 Wingene | 02-05-2013 | 2.219.617.940 |
| Industrieweg 15 8750 Wingene | 02-05-2013 | 2.233.085.302 |
| SemperFi Flandria 6, 8750 Wingene | 17-03-2018 | 2.283.719.795 |
Buildings and parcels at the addresses
- Ground area
- 1.7 ha
- Buildings
- 6,179 m²
- Volume, LiDAR
- 25,190 m³
- Tallest building
- 10.0 m
Buildings to scale, each on its own parcel
Parcels
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 37019A0362/00F000 | 4,463 m² | 1 · 205 m² | 7.7 m · 1 |
| 37019C0189/00G000 | 4,433 m² | 1 · 2,286 m² | 10.0 m · 3 |
| 37019B1103/00A000 | 4,063 m² | 1 · 1,842 m² | 8.8 m |
| 37019C0247/00X000 | 3,696 m² | 1 · 1,847 m² | 6.2 m |
Recognitions
Dual-learning approval
4 live approvalsHoeknaadlasser duaal (so)
Lassen-constructie duaal (so)
Lasser-monteerder (vwo)
Lasser-monteerder duaal (so)