New Panda

Active

Private limited companyfounded 20196 yrs activeTerhulpsesteenweg 237, 1170 Watermaal-Bosvoorde, BelgiumKBO/BCE: BE 0735.899.606

New Panda has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €7k and a net result of €16k. Equity is growing by ~43.2% per year across the filed fiscal years. Its solvency ranks better than 20% of 384 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).

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Checked score

Score 2025

51 / 100

Fair▲ +21 vs 2024

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

Axes · tick = 2024

Profitability100=

Solvency19▼-19

Growth78=

Stability100

Bankruptcy probability, 12 months

0.8% Low

0%0.5%1.5%4%10%≥ 25%

Credit up to €500 at 30 days acceptable

Liquidity short (current ratio 0.5 against 0.7 in 2024), and 77.8% 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

Lower-failure-rate sector

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

Gazette · bankruptcies per sector, NACE 88

Relative position

BE, all sectors

reference

Sector 88

lower

← fewer bankruptcies more bankruptcies →

Limited track record

This company has not been active as long as an established one and statistically fails somewhat more often.

KBO · incorporation date

Age against the risk zone

Higher-failure-rate region

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

KBO · registered office

Annual accounts: healthy financial profile

The latest annual accounts show a healthy profile in solvency, result and liquidity.

NBB · annual accounts 2025

Solvency, return and age of the figures

Solvency

22.2%

Return on assets

55.7%

Age of the figures

8 mo

Weak solvency vs sector

Solvency (equity / total assets) is in the sector's weakest quartile: better than 20% of 384 sector peers (2025).

NBB · sector comparison

Position among 384 sector peers

Solvency

better than 20%

← weakest strongest →

Filed after the deadline

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-08-2026, 30 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 · 6 filings

Deviation from the deadline

2025

30 d late

2024

28 d late

2023

31 d late

2022

31 d late

2021

30 d late

2020

31 d late

← before the deadline after the deadline →

The next deadline is still running

The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.

Companies Code · seven months

Position in the running window

12-09-2026 today31-12-2026 close31-07-2027 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 2025, abbreviated schema

Turnover

€147k

EBIT margin

-20.2%

Net result

€16k

2024 · €-8k

2020: €-31k 2021: €-13k 2022: €24k 2023: €-1k 2024: €-8k

2020 → 2025

Working capital

€-11k▼ 45.1%

2024 · €-8k

2020: €-22k 2021: €-32k 2022: €-4k 2023: €-815 2024: €-8k

2020 → 2025

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20212022202320242025Trend

Equity€-25k-€-776▲ 96.8%€-2k▼ 159%€-10k▼ 390%€7k

Operating result€-13k-€24k€-613€-7k▼ 1,093%€17k

Net result€-13k-€24k€-1k€-8k▼ 536%€16k

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 returns to profit in 2025: €17k after a loss of €7k in 2024.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €29k

60.9%

39.1%

Fixed assets €18k▲ 261%

Current assets €11k▼ 36.7%

Equity and liabilities €29k

22.2%

77.8%

Equity €7k

Debt €23k

Debt finances 77.8% of the balance-sheet total.

Key figures and ratios

2025 value · change against 2024

EBITDA

€18k▲

2024 · €4k

Cash flow

€17k▲

2024 · €3k

Solvency

22.2%▲

2024 · -42.6%

Current ratio

0.50▼

2024 · 0.70

Quick ratio

0.50▼

2024 · 0.70

Debt / equity

3.50▲

2024 · -3.35

ROE

250.7%▲

2024 · 79.6%

ROA

55.7%▲

2024 · -33.9%

Interest coverage

43.16▲

2024 · 7.15

Debt

€23k▼

2024 · €33k

Debt ≤ 1 year

€23k▼

2024 · €26k

Debt > 1 year

€0▼

2024 · €7k

Staff costs

€40k▼

2024 · €43k

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 · 2025 against 2024

Balance sheet Code20242025

Assets

Total assets20/58€23k€29k▲

Fixed assets21/28€5k€18k▲

Tangible fixed assets22/27€64€13k▲

Plant, machinery and equipment23€64€13k▲

Financial fixed assets28€5k€5k=

Current assets29/58€18k€11k▼

Amounts receivable within one year40/41€17k€6k▼

Other amounts receivable41€17k€6k▼

Cash at bank and in hand54/58€771€5k▲

Equity and liabilities

Total equity and liabilities10/49€23k€29k▲

Equity10/15€-10k€7k▲

Contributions10/11€20k€20k=

Capital10€20k€20k=

Issued capital100€20k€20k=

Reserves13€1k€1k=

Non-distributable reserves130/1€1k€1k=

Legal reserve130€1k€1k=

Profit (loss) carried forward14€-31k€-15k▲

Amounts payable17/49€33k€23k▼

Amounts payable after more than one year17€7k€0▼

Financial debts170/4€7k€0▼

Amounts payable within one year42/48€26k€23k▼

Current portion of amounts payable after more than one year42€10k€7k▼

Trade debts44€13k€12k▼

Suppliers440/4€13k€12k▼

Taxes, remuneration and social security45€3k€4k▲

Remuneration and social security454/9€3k€4k▲

Income statement Code20242025

Remuneration, social security and pensions62€43k€40k▼

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€11k€1k▼

Other operating charges640/8€39€575▲

Gross operating margin9900€47k€59k▲

Operating profit (loss)9901€-7k€17k▲

Financial charges65/66B€516€413▼

Recurring financial charges65€516€413▼

Profit (loss) for the period before taxes9903€-8k€16k▲

Profit (loss) for the period9904€-8k€16k▲

Profit (loss) for the period to be appropriated9905€-8k€16k▲

Appropriation of the result

Profit (loss) to be appropriated9906€-31k€-15k▲

Profit (loss) brought forward from the previous period14P€-23k€-31k▼

The notes to these accounts (8 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 8Financial 2Filings 6

Next filing, fiscal year 2026, expected by 31-07-2027

2026

30-08

NBB filing Annual accounts filed

fiscal year 2025 · abbreviated schema · 30 days late

2025

31-12

Financial Back to profitnet €16k

Net result €16k after 2 loss-making years.

28-08

NBB filing Annual accounts filed

fiscal year 2024 · micro schema · 28 days late

2024

31-08

NBB filing Annual accounts filed

fiscal year 2023 · micro schema · 31 days late

2023

31-08

NBB filing Annual accounts filed

fiscal year 2022 · micro schema · 31 days late

2022

31-12

Financial Back to profitnet €24k

Net result €24k after 2 loss-making years.

30-08

NBB filing Annual accounts filed

fiscal year 2021 · micro schema · 30 days late

2021

31-08

NBB filing Annual accounts filed

fiscal year 2020 · micro schema · 31 days late

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

0 of 3 acts read

About the unread acts

We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.

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