PAC-MAN

Active

Public limited companyfounded 199629 yrs activeGistelsteenweg 519, 8490 Jabbeke, BelgiumKBO/BCE: BE 0459.000.733

PAC-MAN has been active since 1996 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €7.29M and a net result of €-464k. Equity is growing by ~19.6% per year across the filed fiscal years. Its solvency ranks better than 88% of 417 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).

Watch Print / PDF

Checked score

Score 2025

68 / 100

Healthy

The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability13▼-60

Solvency100▲+7

Growth52=

Track record100

Bankruptcy probability, 12 months

0.2% Very low

0%0.5%1.5%4%10%≥ 25%

Credit up to €490k at 30 days acceptable

Liquidity ample (current ratio 3.78 against 2.52 in 2024; short-term debt: 21.9% and cash: 7.3% of total assets), and 21.9% 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 93

Relative position

BE, all sectors

reference

Sector 93

lower

← fewer bankruptcies more bankruptcies →

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

Multiple establishment units

Several establishment units mean more fixed costs, and such companies fail more often than a company with one establishment.

KBO · establishment units

Lower-risk legal form

Companies with this legal form statistically fail less often than a BV.

KBO · legal form

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

78.1%

Return on assets

-5%

Age of the figures

9 mo

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 13-07-2026, 18 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

18 d early

2024

133 d late

2023

75 d late

2022

99 d late

2021

19 d late

2020

5 d early

2019

39 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

20-09-2026 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, full schema

Source amounts without an identifiable currency are assumed to be EUR.

Turnover

€12.05M

EBIT margin

19.7%

Net result

€-464k

2024 · €354k

2018: €448k 2019: €645k 2020: €1.79M 2021: €1.67M 2022: €1.21M 2023: €1.80M 2024: €354k

2018 → 2025

Working capital

€5.69M▲ 1.5%

2024 · €5.60M

2018: €99k 2019: €300k 2020: €797k 2021: €-220k 2022: €4.23M 2023: €6.20M 2024: €5.60M

2018 → 2025

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20212022202320242025Trend

Turnover€12.05M

Equity€5.43M-€6.64M▲ 22.3%€8.44M▲ 27.1%€7.75M▼ 8.1%€7.29M▼ 6.0%

Operating result€2.97M-€1.19M▼ 59.9%€2.38M▲ 99.4%€1.07M▼ 55.2%€-1.20M

Net result€1.67M-€1.21M▼ 27.4%€1.80M▲ 48.4%€354k▼ 80.3%€-464k

Result per fiscal year

Operating resultNet result

The operating result turns negative in 2025: a loss of €1.20M after €1.07M in 2024, the lowest result in the available series.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €9.34M

17.1%

82.9%

Fixed assets €1.60M▼ 25.5%

Current assets €7.74M▼ 16.8%

Equity and liabilities €9.34M

78.1%

21.9%

Equity €7.29M▼ 6.0%

Debt €2.05M▼ 44.5%

The debt ratio falls from 32.3% to 21.9%. Equity and debt are lower.

Key figures and ratios

2025 value · change against 2024

EBITDA

€-1.02M▼

2024 · €1.28M

Cash flow

€-289k▼

2024 · €564k

Solvency

78.1%▲

2024 · 67.7%

Current ratio

3.78▲

2024 · 2.52

Quick ratio

3.78▲

2024 · 2.52

Debt / equity

0.28▼

2024 · 0.48

ROE

-6.4%▼

2024 · 4.6%

ROA

-5.0%▼

2024 · 3.1%

Interest coverage

-7.02▼

2024 · 7.58

Debt

€2.05M▼

2024 · €3.69M

Debt ≤ 1 year

€2.05M▼

2024 · €3.69M

Income taxes

€427k▼

2024 · €609k

Staff costs

€782k▲

2024 · €688k

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€11.44M€9.34M▼

Fixed assets21/28€2.15M€1.60M▼

Tangible fixed assets22/27€2.14M€1.44M▼

Land and buildings22€1.88M€1.27M▼

Plant, machinery and equipment23€171k€108k▼

Furniture and vehicles24€60k€38k▼

Leasing and similar rights25€2k€0▼

Other tangible fixed assets26€26k€24k▼

Financial fixed assets28€5k€155k▲

Current assets29/58€9.30M€7.74M▼

Amounts receivable within one year40/41€6.23M€4.85M▼

Trade receivables40€447k€499k▲

Other amounts receivable41€5.79M€4.35M▼

Current investments50/53€2.86M€2.20M▼

Cash at bank and in hand54/58€203k€683k▲

Deferred charges and accrued income490/1€0€5k▲

Equity and liabilities

Total equity and liabilities10/49€11.44M€9.34M▼

Equity10/15€7.75M€7.29M▼

Contributions10/11€74k€74k=

Capital10€74k€74k=

Issued capital100€74k€74k=

Reserves13€6.66M€6.66M=

Non-distributable reserves130/1€57k€57k=

Legal reserve130€57k€57k=

Tax-exempt reserves132€1.99M€1.99M=

Distributable reserves133€4.61M€4.61M=

Profit (loss) carried forward14€1.02M€557k▼

Amounts payable17/49€3.69M€2.05M▼

Amounts payable within one year42/48€3.69M€2.05M▼

Current portion of amounts payable after more than one year42€0-

Financial debts43€67k€67k=

Credit institutions430/8€67k€67k=

Trade debts44€468k€1.03M▲

Suppliers440/4€468k€1.03M▲

Taxes, remuneration and social security45€583k€759k▲

Taxes450/3€438k€655k▲

Remuneration and social security454/9€145k€104k▼

Other amounts payable47/48€2.58M€198k▼

Income statement Code20242025

Non-recurring operating income76A-€105k

Remuneration, social security and pensions62€688k€782k▲

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€210k€175k▼

Other operating charges640/8€1.22M€1.46M▲

Non-recurring operating charges66A-€214k

Gross operating margin9900€3.19M€1.43M▼

Operating profit (loss)9901€1.07M€-1.20M▼

Financial income75/76B€66k€1.31M▲

Recurring financial income75€66k€1.31M▲

Financial charges65/66B€168k€146k▼

Recurring financial charges65€168k€146k▼

Profit (loss) for the period before taxes9903€963k€-36k▼

Income taxes67/77€609k€427k▼

Profit (loss) for the period9904€354k€-464k▼

Transfer to tax-exempt reserves689€0-

Profit (loss) for the period to be appropriated9905€354k€-464k▼

Appropriation of the result

Profit (loss) to be appropriated9906€1.37M€557k▼

Profit (loss) brought forward from the previous period14P€1.02M€1.02M=

Transfer from equity791/2€1.04M€0▼

Transfer to equity691/2€354k€0▼

To other reserves6921€354k€0▼

Profit to be distributed694/7€1.04M€0▼

Return on contributions (dividend)694€1.04M€0▼

Social balance

Average headcount (FTE)908710.612.3▲

The notes to these accounts (13 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Download as CSV

Timeline · acts, filings and financial milestones

All 16Financial 5Gazette 1Filings 10

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

2026

28-07

State Gazette act Capital & shares · Restructuring

General meeting · Demerger · Incorporation15 facts ▸

General meeting, 16 juli 2026
Demerger, Partiële splitsing door overgang van de bedrijfstak "beheer van onroerend patrimonium"
Incorporation, 16 juli 2026
Founding capital, €61.978,36
Corporate purpose, I. Specifieke activiteiten A/ het aanleggen, het oordeelkundig uitbouwen en beheren van een onroerend vermogen... B/ het aanleggen, het oordeelkundig uitbouwen…
Mandate compensation, DE BACKER Rudy
Power of attorney, Decostere Accountancy Roeselare BV
Capital decrease, €61.978,36
Capital increase, €49.110,3
Capital, €61.500
Accounting effect, 1 januari 2026
First fiscal year, 31 december 2026, datum neerlegging ter griffie
+3 further facts in this act

96.5% of this act was read; anything after the cut is not in this list.Read the act at the Belgisch Staatsblad ↗

13-07

NBB filing Annual accounts filed

fiscal year 2025 · full schema

2025

31-12

Financial Weakest financial yearnet €-464k ▼231%

Net result drops to €-464k, the lowest in the series.

11-12

NBB filing Annual accounts filed

fiscal year 2024 · abbreviated schema · 133 days late

2024

14-10

NBB filing Annual accounts filed

fiscal year 2023 · full schema · 75 days late

2023

31-12

Financial Highest result since 2018net €1.80M ▲48.4%

Net result €1.80M, the highest in the series.

07-11

NBB filing Annual accounts filed

fiscal year 2022 · abbreviated schema · 99 days late

2022

31-12

Financial Liquidity triplescurrent ratio 2.61

Current ratio from 0.91 to 2.61.

19-08

NBB filing Annual accounts filed

fiscal year 2021 · abbreviated schema · 19 days late

2021

31-12

Financial Equity above €5MEq €5.43M ▲44.3%

4 profitable years in a row build equity to €5.43M.

26-07

NBB filing Annual accounts filed

fiscal year 2020 · abbreviated schema

2020

31-12

Financial Equity above €2MEq €3.76M ▲90.6%

3 profitable years in a row build equity to €3.76M.

08-09

NBB filing Annual accounts filed

fiscal year 2019 · abbreviated schema · 39 days late

2019

31-08

NBB filing Annual accounts filed

fiscal year 2018 · abbreviated schema · 31 days late

2018

31-08

NBB filing Annual accounts filed

fiscal year 2017 · abbreviated schema · 31 days late

2017

13-09

NBB filing Annual accounts filed

fiscal year 2016 · abbreviated schema · 44 days late

Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

no sitting director, last change in 2011

We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.

16-02-2011 Diane HANSSENS: Resigned as Director

16-02-2011 Julien DE BACKER: Resigned as Director

Not every act has been read: a resignation may be missing here

1 act was read only in part. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.

Location & real-estate footprint

Registered office, Jabbeke · 2 establishment units since 2012

establishment All 2 establishment units on the map

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.

Gistelsteenweg 5198490 Jabbeke

Ground area

8,924 m²

Building footprint

2,000 m²

Volume, LiDAR

18,777 m³

3 parcels, Flanders · tallest building 15.6 m, ±5 floors. Linked by address, not a title deed.

2 establishment units

Carousel

Brugsesteenweg 13, 8531 HarelbekeGambling and betting activities

since 20122.242.058.196

PAC-MAN

Gistelse Steenweg 300, 8200 BruggeGambling and betting activities

since 20192.332.882.563

3 parcels

Flanders 3 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
31425C0302/00L002	Flanders	3,941 m²	1 · 1,112 m²	15.6 m · 5 fl.
34017C0001/00R000	Flanders	2,951 m²	1 · 660 m²	9.7 m · 1 fl.
31012C0575/00Z000	Flanders	2,032 m²	1 · 228 m²	7.3 m · 2 fl.