P1 COATINGS

Active

Private limited company (pre-2019)founded 2016active for 10 yearsZavelstraat(STE) 5A, 9190 Stekene, BelgiumKBO/BCE: BE 0656.605.866

Summary

The computed 12-month bankruptcy probability of P1 COATINGS is 2.8% (moderate). The 2025 annual accounts show negative equity (-€152,743) and a net result of -€39,475. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 10% of 145 sector peers (NACE 20, financial year 2025). The company has been active since 2016 and the Belgian Official Gazette contains no insolvency or warning signals.

Risk analysisFollow Report Compare

P1 COATINGSActiveChecked score 49/100

Risk analysis Report Compare

Activity

Manufacture of chemicals and chemical products

NACE 20590

1 site

Size

≈ €140,000turnover 2025, estimated

Staff: ≈ 0 FTE, estimated
Equity: -€152,743
Loss: -€39,475

Turnover estimated from the gross margin

Financial health

49 Fair Checked score 2025

Bankruptcy probabilitywithin 12 months: 2.8%

Structure

Largest shareholder: PHOENIX · 45%

Danicska TechnologiesDirector · permanent representative Ludovic Danicska
INDULEDDirector · permanent representative Bart Govaere
THOMAS SEYNAEVEDirector

2025 accounts 84 days early4 of 6 deeds summarised

Why 49raises riskNegative equity -€152,7431 change of registered office in 24 monthsLoss of €39,475, the second in a row (financial year 2025)lowers riskSize: total assets €103,825Show the evidence

Checked score

Score 2025

49 / 100

Fair

Probability in this band: 1.5% to 4.2%

Financially better than 16% of its sector peers (NACE 20, micro)

Every signal that counts is listed under Signals.

Financial strength · tick = 2024

Weak

Solvency 0=

equity -147.1% of total assets

Liquidity 25-36

short-term debt 86.8% · cash 18.3%

Profitability 0=

return on assets -38.0%

Bankruptcy probability, 12 months

2.8% Moderate

0%0.5%1.5%4%10%≥ 25%

About 3 in 100 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.4% (355 companies, NACE 20, micro)

Last 24 months 11-2024: 1.6% 12-2024: 1.6%● unchanged vs 11-2024 01-2025: 1.6%● unchanged vs 12-2024 02-2025: 1.6%● unchanged vs 01-2025 03-2025: 1.6%● unchanged vs 02-2025 04-2025: 1.6%● unchanged vs 03-2025 05-2025: 1.5%▼ -0.1 percentage points vs 04-2025 06-2025: 1.5%● unchanged vs 05-2025lowest value 07-2025: 1.6%▲ +0.1 percentage points vs 06-2025 08-2025: 2.2%▲ +0.6 percentage points vs 07-2025 09-2025: 2.7%▲ +0.5 percentage points vs 08-2025 10-2025: 2.5%▼ -0.2 percentage points vs 09-2025 11-2025: 4.2%▲ +1.7 percentage points vs 10-2025 12-2025: 4.2%● unchanged vs 11-2025highest value 01-2026: 4.2%● unchanged vs 12-2025 02-2026: 4.2%● unchanged vs 01-2026 03-2026: 4.1%▼ -0.1 percentage points vs 02-2026 04-2026: 4.2%▲ +0.1 percentage points vs 03-2026 05-2026: 4.1%▼ -0.1 percentage points vs 04-2026 06-2026: 2.8%▼ -1.3 percentage points vs 05-2026 07-2026: 2.8%● unchanged vs 06-2026 08-2026: 2.8%● unchanged vs 07-2026 09-2026: 2.8%● unchanged vs 08-2026 10-2026: 2.8%● unchanged vs 09-2026

No credit on open account

Liquidity insufficient (current ratio 0.99, compared with 1.4 in 2024, below 1; short-term debt: 86.8% and cash: 18.3% of total assets), and equity is negative.

How it is calculated

The band follows from the bankruptcy probability, on a scale where 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 20, micro): better than 10% on solvency, 25% on liquidity, 11% on profitability and 19% on growth.

The bankruptcy probability was computed on 28-10-2026 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.

Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Signals

Six signals.

lowers riskraises riskneutral

Negative equity -€152,743

NBB · annual accounts

Size: total assets €103,825

Companies of this size fail less often; how much that weighs depends on the rest of its profile.

NBB · annual accounts

1 change of registered office in 24 months

Belgian Official Gazette

Loss of €39,475, the second in a row (financial year 2025)

NBB · annual accounts

Negative equity

The 2025 annual accounts show negative equity and a net loss.

NBB · annual accounts 2025

Equity per financial year

1819202122232425

2018 to 2025 · latest year -€152,743

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 08-05-2026, 84 days ahead of the deadline.

NBB · 9 filings

Deviation from the deadline

2025

84 days early

2024

60 days late

2023

29 days late

2022

56 days late

2021

23 days early

2020

11 days early

2019

16 days early

← before the deadline after the deadline →

tick = median of all Belgian filingsring = median in the sector

This company filed its last 7 accounts on average 2 days after the deadline; the sector median (NACE 20) for financial year 2024 is 22 days before the deadline, and 26% of those companies filed late.

Searched, nothing found (2)

Next filing not due yet

The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 30 August (4 of the last 5 filed years within 53 days of that day).

Companies Code · seven months

Where today falls in the filing period

29-10-2026 today31-12-2026 year end31-07-2027 deadline

No strike-offs in the KBO publications

Searched since 2021.

KBO publications · our coverage

08-05-2026 Annual accounts filedfinancial year 2025 · micro…
16-10-2025 Registered officeRegistered-office move
29-09-2025 Annual accounts filedfinancial year 2024 · micro…

Key points

Risk: Negative equityfinancial year 2025: debts exceed assets -€152,743 View
Risk: 4 loss-making years in a rowloss financial year 2025 -€39,475 View
Caution: Among the weakest 10% on equitysector median €17,500 · 146 companies -€152,743 View

By topic

Financials

Financial year: 2025
Total assets: €103,825
Loss: -€39,475
Solvency: -147.1%

Total assets▼ 19.5%

Net result

20182025

Go to Financials

Board & ownership

Board: 3 members
Largest shareholder: PHOENIX · 45%

Danicska TechnologiesDirector
INDULEDDirector
THOMAS SEYNAEVEDirector

Go to Board & ownership

Network & group

Connected companies: 2

Go to Network & group

Timeline

Events: 16
Since: 2018
Next accounts: by 31-07-2027

31-12-2024Liquidity more than doubled
18-11-2024Resignation: Tim De Moerloose (voorlopig bewindvoerder)
31-10-2024Resignations: Herman Bertier (director) and Ludovic Danicska…

Go to Timeline

Company details

Sites: 1

Legal form: Private limited company (pre-2019)
Activity: Manufacture of chemicals and chemical productsNACE 20590
Founded: 13-06-2016
Year ends: 31-12
Peppol: Reachable for e-invoices

Go to Company details

Articles of association

Provisions read: 1

Who signs: Each director alone

Go to Articles of association

Key facts about P1 COATINGS

What is the company number of P1 COATINGS?: 0656.605.866. In Belgium the VAT number is the company number with BE in front: BE 0656.605.866.
Where is P1 COATINGS based?: The registered office is at Zavelstraat(STE) 5A, 9190 Stekene.Company details
What does P1 COATINGS do?: According to the KBO register, the main activity is manufacture of chemicals and chemical products (NACE 20590).
What is the legal form of P1 COATINGS?: Private limited company (pre-2019) (BVBA).
When was P1 COATINGS founded?: On 13-06-2016.
Is P1 COATINGS still active?: Yes, P1 COATINGS is an active enterprise in the KBO register.
What is the turnover of P1 COATINGS?: Not stated in the processed annual accounts. The abridged format for small companies does not require turnover.Financials
Is P1 COATINGS profitable?: In financial year 2025, P1 COATINGS made a loss of €39,475.
Where can I find the annual accounts of P1 COATINGS?: P1 COATINGS filed 9 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
When are the next annual accounts of P1 COATINGS due?: By 31-07-2027, for financial year 2026.Timeline