P&F
ActiveP&F has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €655k and a net result of €68k. Equity is growing by ~8.9% per year across the filed fiscal years. Its solvency ranks better than 64% of 100 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
74
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability75▲+1
Solvency76▼-3
Growth78=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €45k at 30 days acceptable
Liquidity ample (current ratio 1.87 against 1.92 in 2024; short-term debt: 49.3% and cash: 32.6% of total assets), and 49.3% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 27
Relative position
BE, all sectors
reference
Sector 27
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
50.7%
Return on assets
5.3%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 01-07-2026, 30 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
30 d early
2024
30 d early
2023
29 d early
2022
25 d early
2021
30 d early
2020
29 d early
2019
18 d early
← before the deadline
after the deadline →
neutral · 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 monthsPosition in the running window
18-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€68k▲ 58.5%
2024 · €43k
2018: €18k
2019: €32k
2020: €21k
2021: €16k
2022: €60k
2023: €52k
2024: €43k
2018 → 2025
Working capital
€555k▲ 20.9%
2024 · €459k
2018: €257k
2019: €299k
2020: €371k
2021: €412k
2022: €490k
2023: €520k
2024: €459k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€431k-€491k▲ 14.0%€544k▲ 10.7%€587k▲ 7.9%€655k▲ 11.6%
Operating result€31k-€82k▲ 162%€71k▼ 13.8%€59k▼ 17.0%€94k▲ 59.6%
Net result€16k-€60k▲ 268%€52k▼ 13.2%€43k▼ 17.9%€68k▲ 58.5%
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 60% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.29M
Fixed assets
€100k▼ 21.7%
Current assets
€1.19M▲ 24.7%
Equity and liabilities €1.29M
Equity
€655k▲ 11.6%
Debt
€637k▲ 28.2%
The debt ratio rises from 45.8% to 49.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€124k▲
2024 · €76k
Cash flow
€98k▲
2024 · €60k
Solvency
50.7%▼
2024 · 54.2%
Current ratio
1.87▼
2024 · 1.92
Quick ratio
1.87▼
2024 · 1.88
Debt / equity
0.97▲
2024 · 0.85
ROE
10.4%▲
2024 · 7.3%
ROA
5.3%▲
2024 · 4.0%
Interest coverage
1647.44▲
2024 · 259.18
Debt
€637k▲
2024 · €496k
Debt ≤ 1 year
€637k▲
2024 · €496k
Income taxes
€27k▲
2024 · €16k
Staff costs
€249k▼
2024 · €306k
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€1.08M€1.29M▲
Fixed assets21/28€128k€100k▼
Tangible fixed assets22/27€127k€97k▼
Furniture and vehicles24€127k€97k▼
Financial fixed assets28€376€3k▲
Current assets29/58€956k€1.19M▲
Stocks and contracts in progress3€23k€2k▼
Stocks30/36€23k€2k▼
Amounts receivable within one year40/41€174k€761k▲
Trade receivables40€159k€756k▲
Other amounts receivable41€16k€5k▼
Current investments50/53€100k-
Cash at bank and in hand54/58€654k€421k▼
Deferred charges and accrued income490/1€4k€7k▲
Equity and liabilities
Total equity and liabilities10/49€1.08M€1.29M▲
Equity10/15€587k€655k▲
Contributions10/11€234k€234k=
Capital10€234k€234k=
Issued capital100€234k€234k=
Reserves13€353k€421k▲
Non-distributable reserves130/1€17k€20k▲
Legal reserve130€17k€20k▲
Tax-exempt reserves132€15k€15k=
Distributable reserves133€321k€386k▲
Amounts payable17/49€496k€637k▲
Amounts payable within one year42/48€496k€637k▲
Trade debts44€461k€618k▲
Suppliers440/4€461k€618k▲
Taxes, remuneration and social security45€35k€19k▼
Taxes450/3€302€7k▲
Remuneration and social security454/9€35k€12k▼
Income statement
Code20242025
Remuneration, social security and pensions62€306k€249k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€17k€30k▲
Other operating charges640/8€2k€3k▲
Gross operating margin9900€384k€375k▼
Operating profit (loss)9901€59k€94k▲
Financial income75/76B€419€1k▲
Recurring financial income75€419€1k▲
Financial charges65/66B€293€75▼
Recurring financial charges65€293€75▼
Profit (loss) for the period before taxes9903€59k€95k▲
Income taxes67/77€16k€27k▲
Profit (loss) for the period9904€43k€68k▲
Profit (loss) for the period to be appropriated9905€43k€68k▲
Appropriation of the result
Profit (loss) to be appropriated9906€43k€68k▲
Transfer to equity691/2€43k€68k▲
To the legal reserve6920€2k€3k▲
To other reserves6921€41k€65k▲
Social balance
Average headcount (FTE)90876.05.6▼
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
01-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Highest result since 2018net €68k ▲58.5%
Operating result €94k, net result €68k, both a record.
01-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
02-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Equity above €500kEq €544k ▲10.7%
6 profitable years in a row build equity to €544k.
06-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
01-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Weakest financial yearnet €16k ▼22.5%
Net result drops to €16k, the lowest in the series; recovery starts the following year.
02-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
13-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
19-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 19 days late
2018
26-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
18-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 18 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
6 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Wetteren · 1 establishment unit since 2003
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Honderdweg 129230 WetterenGround area
3,634 m²
Building footprint
1,748 m²
Volume, LiDAR
8,375 m³
Parcel 42025G0760/00H000, Flanders · tallest building 7.5 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
P&F
since 20032.132.997.138
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 42025G0760/00H000 | Flanders | 3,634 m² | 1 · 1,748 m² | 7.5 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
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BD Technics
BE 0695.729.134
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G.I.A.
BE 0406.883.920
Bree · Eq €694k
EAC Industrie
BE 0895.830.731
Olne · Eq €617k
CISEO
BE 0676.685.361
Seraing · Eq €617k
Of 155 companies in sector 27120 we hold annual accounts for 113. 87 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded04-08-2003
Fiscal year end31-12
Activities, NACEBEL
27120Manufacture of electrical equipment
43211General electrical installation work
Sources
Crossroads Bank for EnterprisesNational Bank · 22 filingsAddress and cadastre registers
Data from official sources, last processed on 17-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
3 entriesE-mail:info@pnvwest.be
Phone:09/2354010
Fax:09/2354011