PALISANDER
ActiveSummary
PALISANDER has been active since 1997 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.42M and a net result of €47k. Equity remains stable across the filed fiscal years (±0.4% per year). Its solvency ranks better than 75% of 4556 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability72=
Solvency97▲+4
Growth78▲+20
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €110k at 30 days acceptable
Liquidity short (current ratio 0.62 against 0.52 in 2024; short-term debt: 7.3% and cash: 0.5% of total assets), and 27.6% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← 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
72.4%
Return on assets
2.4%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 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 · 10 filingsDeviation from the deadline
2025
28 d late
2024
26 d late
2023
29 d late
2022
24 d late
2021
30 d late
2020
20 d late
2019
7 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
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
25-09-2026 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
€47k▼ 19.1%
2024 · €58k
Working capital
€-55k▲ 41.9%
2024 · €-94k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€50k▲ 101%€28k▼ 45.4%€37k▲ 35.2%€87k▲ 133%€75k▼ 13.9%
Net result€35k▲ 60.3%€18k▼ 49.6%€28k▲ 55.5%€58k▲ 111%€47k▼ 19.1%
Equity€1.37M▲ 0.1%€1.35M▼ 1.2%€1.31M▼ 3.0%€1.37M▲ 4.4%€1.42M▲ 3.4%
Total assets€1.99M▲ 1.9%€2.05M▲ 2.6%€2.07M▲ 1.0%€2.01M▼ 2.6%€1.96M▼ 2.6%
Debt€623k▲ 6.2%€690k▲ 10.9%€752k▲ 8.9%€640k▼ 14.9%€540k▼ 15.6%
Working capital€64k▼ 40.4%€-50k€-146k▼ 190%€-94k▲ 35.5%€-55k▲ 41.9%
Staff (FTE)000
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 14% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.96M
Fixed assets
€1.87M ▼ 2.0%
Current assets
€88k ▼ 15.4%
Equity and liabilities €1.96M
Equity
€1.42M ▲ 3.4%
Debt
€540k ▼ 15.6%
Debt's share of the balance-sheet total falls from 31.8% to 27.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€131k▼
2024 · €142k
Cash flow
€104k▼
2024 · €113k
Current ratio
0.62▲
2024 · 0.52
Debt to equity
0.38▼
2024 · 0.47
ROE
3.3%▼
2024 · 4.2%
ROA
2.4%▼
2024 · 2.9%
Interest coverage
13.53▼
2024 · 16.45
Debt ≤ 1 year
€142k▼
2024 · €198k
Debt > 1 year
€397k▼
2024 · €441k
Income taxes
€20k▼
2024 · €23k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €38k | €45k | €53k | €55k | €57k | ▲ 3.0% |
| Other operating charges640/8 | €3k | €2k | €1k | €6k | €8k | ▲ 22.0% |
| Non-recurring operating charges66A | €0 | - | - | - | €472 | - |
| Gross operating margin9900 | €91k | €75k | €92k | €148k | €139k | ▼ 5.7% |
| Operating profit (loss)9901 | €50k | €28k | €37k | €87k | €75k | ▼ 13.9% |
| Financial income75/76B | €3k | €3k | €3k | €3k | €2k | ▼ 25.9% |
| Recurring financial income75 | €3k | €3k | €3k | €3k | €2k | ▼ 25.9% |
| Financial charges65/66B | €14k | €11k | €9k | €9k | €10k | ▲ 12.7% |
| Recurring financial charges65 | €14k | €11k | €9k | €9k | €10k | ▲ 12.7% |
| Profit (loss) for the period before taxes9903 | €39k | €20k | €31k | €81k | €67k | ▼ 17.1% |
| Income taxes67/77 | €4k | €2k | €4k | €23k | €20k | ▼ 11.9% |
| Profit (loss) for the period9904 | €35k | €18k | €28k | €58k | €47k | ▼ 19.1% |
| Profit (loss) for the period to be appropriated9905 | €35k | €18k | €28k | €58k | €47k | ▼ 19.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.99M | €2.05M | €2.07M | €2.01M | €1.96M | ▼ 2.6% |
| Fixed assets21/28 | €1.88M | €1.94M | €1.95M | €1.91M | €1.87M | ▼ 2.0% |
| Tangible fixed assets22/27 | €889k | €944k | €955k | €917k | €880k | ▼ 4.1% |
| Land and buildings22 | €874k | €873k | €883k | €848k | €812k | ▼ 4.2% |
| Plant, machinery and equipment23 | - | €2k | €3k | €2k | €2k | ▼ 31.5% |
| Furniture and vehicles24 | €14k | €16k | €13k | €9k | €13k | ▲ 45.5% |
| Other tangible fixed assets26 | - | €54k | €57k | €59k | €54k | ▼ 8.7% |
| Financial fixed assets28 | €991k | €991k | €991k | €991k | €991k | = |
| Current assets29/58 | €114k | €110k | €119k | €103k | €88k | ▼ 15.4% |
| Amounts receivable within one year40/41 | €63k | €49k | €83k | €86k | €76k | ▼ 11.8% |
| Trade receivables40 | €1k | €2k | €33k | €70k | €34k | ▼ 52.0% |
| Other amounts receivable41 | €62k | €47k | €50k | €17k | €43k | ▲ 157% |
| Cash at bank and in hand54/58 | €48k | €59k | €32k | €14k | €10k | ▼ 30.0% |
| Deferred charges and accrued income490/1 | €3k | €2k | €4k | €3k | €1k | ▼ 53.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.99M | €2.05M | €2.07M | €2.01M | €1.96M | ▼ 2.6% |
| Equity10/15 | €1.37M | €1.35M | €1.31M | €1.37M | €1.42M | ▲ 3.4% |
| Contributions10/11 | €250k | €250k | €250k | €250k | €250k | = |
| Capital10 | €250k | €250k | €250k | €250k | €250k | = |
| Issued capital100 | €250k | €250k | €250k | €250k | €250k | = |
| Reserves13 | €127k | €144k | €175k | €233k | €280k | ▲ 20.2% |
| Non-distributable reserves130/1 | €50k | €50k | €50k | €50k | €50k | = |
| Legal reserve130 | €50k | €50k | €50k | €50k | €50k | = |
| Distributable reserves133 | €77k | €95k | €125k | €183k | €230k | ▲ 25.6% |
| Profit (loss) carried forward14 | €995k | €960k | €889k | €889k | €889k | = |
| Amounts payable17/49 | €623k | €690k | €752k | €640k | €540k | ▼ 15.6% |
| Amounts payable after more than one year17 | €572k | €529k | €486k | €441k | €397k | ▼ 10.1% |
| Financial debts170/4 | €572k | €529k | €486k | €441k | €397k | ▼ 10.1% |
| Amounts payable within one year42/48 | €50k | €160k | €266k | €198k | €142k | ▼ 28.0% |
| Current portion of amounts payable after more than one year42 | €43k | €43k | €44k | €44k | €45k | ▲ 1.3% |
| Financial debts43 | €0 | - | - | - | - | - |
| Credit institutions430/8 | €0 | - | - | - | - | - |
| Trade debts44 | €4k | €9k | €44k | €32k | €27k | ▼ 14.0% |
| Suppliers440/4 | €4k | €9k | €44k | €32k | €27k | ▼ 14.0% |
| Taxes, remuneration and social security45 | €4k | €34k | €48k | €41k | €55k | ▲ 34.5% |
| Taxes450/3 | €4k | €34k | €44k | €41k | €51k | ▲ 25.9% |
| Remuneration and social security454/9 | - | - | €4k | €0 | €4k | - |
| Other amounts payable47/48 | - | €74k | €130k | €81k | €15k | ▼ 81.1% |
| Accrued charges and deferred income492/3 | €375 | €1k | €975 | €975 | €1k | ▲ 6.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €35k | €18k | €28k | €58k | €47k | ▼ 19.1% |
| + Depreciation and write-downs630 | €38k | €45k | €53k | €55k | €57k | ▲ 3.0% |
| Operating cash flow (approximation) | €73k | €63k | €80k | €113k | €104k | ▼ 8.4% |
| Investment in fixed assets (approximation) | - | €-101k | €-64k | €-17k | €-19k | ▼ 14.2% |
| Change in cash | - | €11k | €-26k | €-18k | €-4k | ▲ 75.8% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 28 days late
2025
26-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 26 days late
2024
31-12
Financial
Highest result since 2018net €58k ▲111%
Operating result €87k, net result €58k, both a record.
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 29 days late
2023
24-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 24 days late
2022
31-12
Financial
Weakest financial yearnet €18k ▼49.6%
Net result drops to €18k, the lowest in the series; recovery starts the following year.
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 30 days late
2021
20-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 20 days late
2020
24-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
24-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
10-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
30-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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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Directors · office · real estate
Directors
5 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, Maaseik · 3 establishment units since 1997
Ground area
7,546 m²
Building footprint
1,477 m²
Volume, LiDAR
2,721 m³
3 parcels, Flanders · tallest building 14.1 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
3 establishment units
Diestersteenweg 348, 3680 Maaseik
since 19972.083.959.084
Palisander
since 20242.372.893.974
Palisander
since 20252.372.892.687
3 parcels
Flanders
3
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 72021A1863/00Z002 | Flanders | 5,086 m² | 1 · 1,030 m² | 14.1 m |
| 72021D0478/00H000 | Flanders | 1,510 m² | 1 · 239 m² | 11.1 m · 2 fl. |
| 72024A1527/00D000 | Flanders | 950 m² | 1 · 207 m² | - |
Linked by address, not proof of ownership
Good to know
3 of 3 parcels 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
Decopa
BE 0406.161.665
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LOS EDIFICIOS
BE 0724.634.243
Anzegem · Eq €1,418,992
LANSON ANDERLECHT III
BE 0429.409.003
Anderlecht · Eq €1,419,489
LAW OFFICE
BE 0455.549.018
Lier · Eq €1,417,401
Modde Vastgoed
BE 0832.400.748
Kortrijk · Eq €1,420,612
Of 9,143 companies in sector 68201 we hold annual accounts for 6,764. 4,615 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded16-07-1997
Fiscal year end31-12
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
66300Activities auxiliary to financial services and insurance activities
68204Real estate activities
Scores and ratios are computed by Checked and are not a credit decision.