PALLETS.BE
InactiveFinancials · financial year 2024, full format
2024 annual accounts filed late (29 days) Filed on 29 August 2025, deadline 31 July 2025 (7 months after the close on 31 December 2024, Companies Code art. 3:10). Source: NBB, 2025-00471722.
Turnover
€8.1m▲ 70.0%
2018 · €4.7m
EBIT margin
11.7%▲ 6.7pp
2018 · 5.0%
Net result
€1.9m▲ 23.8%
2023 · €1.6m
Working capital
-€2.7m▼ 66.6%
2023 · -€1.6m
Trend over the years
2020 to 2024, 5 financial years 2018 to 2024, 7 financial years
The operating result falls in 2024; 2024 is 58% below 2023.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Turnover€8.1m
2024
Operating result€0.9m
2024
Net result€1.9m
2024
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€10.2m
2024
Equity€5.3m
2024
Debt€4.9m
2024
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€2.7m
2024
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
EBIT margin11.7%
2024
Average staff in full-time equivalents (FTE).
Staff (FTE)24.4
2024
Use the arrow keys on the chart for the figures per year.
Every figure with its change against the financial year before
favourable
unfavourable
Line2018201920202021202220232024
Turnover€4.7m-€8.1m
Operating result€0.2m-€0.2m▼ 4.8%€0.06m▼ 72.3%€0.7m▲ 984%€0.8m▲ 23.1%€2.3m▲ 171%€0.9m▼ 58.3%
Net result€0.1m-€0.08m▼ 43.6%-€0.008m€0.5m€0.5m▲ 11.7%€1.6m▲ 187%€1.9m▲ 23.8%
EBIT margin5.0%-11.7%
Equity€0.7m-€0.8m▲ 10.5%€0.8m▼ 1.0%€1.3m▲ 60.1%€1.8m▲ 41.9%€3.4m▲ 84.9%€5.3m▲ 56.8%
Total assets€2.6m-€3.1m▲ 19.9%€5.1m▲ 62.8%€4.4m▼ 14.3%€10.0m▲ 128%€8.8m▼ 12.4%€10.2m▲ 16.3%
Debt€1.9m-€2.3m▲ 23.6%€4.3m▲ 85.1%€3.1m▼ 28.2%€8.2m▲ 164%€5.4m▼ 34.1%€4.9m▼ 9.2%
Working capital-€0.2m--€0.1m▲ 6.6%-€0.5m▼ 234%-€0.4m▲ 21.1%-€1.9m▼ 389%-€1.6m▲ 11.9%-€2.7m▼ 66.6%
Staff (FTE)18.8-17.5▼ 6.9%14.7▼ 16.0%16.4▲ 11.6%22.4▲ 36.6%23.2▲ 3.6%24.4▲ 5.2%
Why a figure moved sharply
- 2024 Equity +57% on 2023. Merger absorbing PELLETS.BE, Official Gazette 13-11-2024.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €10.2m
Fixed assets
€8.0m ▲ 0.8%
Current assets
€2.2m ▲ 165%
Equity and liabilities €10.2m
Equity
€5.3m ▲ 56.8%
Debt
€4.9m ▼ 9.2%
Debt's share of the balance-sheet total falls from 61.5% to 48.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€1.3m▼
2023 · €2.6m
Cash flow
€2.3m▲
2023 · €1.9m
Current ratio
0.45▲
2023 · 0.34
Quick ratio
0.38▲
2023 · 0.24
Debt to equity
0.92▼
2023 · 1.60
ROE
36.2%▼
2023 · 45.9%
ROA
18.8%▲
2023 · 17.7%
Interest coverage
5.69▼
2023 · 17.75
Debt ≤ 1 year
€4.9m▲
2023 · €2.5m
Debt > 1 year
€0▼
2023 · €2.8m
Income taxes
€187,445▼
2023 · €562,903
Staff costs
€1.8m▲
2023 · €1.0m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | - | - | - | €8.1m | - |
| Turnover70 | €4.7m | - | - | - | - | - | €8.1m | - |
| Other operating income74 | - | - | - | - | - | - | €0.09m | - |
| Non-recurring operating income76A | - | - | - | €0.03m | - | - | - | - |
| Operating charges60/66A | - | - | - | - | - | - | €7.2m | - |
| Goods for resale, raw materials and consumables60 | - | - | - | - | - | - | €3.0m | - |
| Purchases600/8 | - | - | - | - | - | - | €3.1m | - |
| Change in stocks: decrease (increase)609 | - | - | - | - | - | - | -€0.08m | - |
| Services and other goods61 | - | - | - | - | - | - | €1.6m | - |
| Remuneration, social security and pensions62 | - | - | - | €0.6m | €0.8m | €1.0m | €1.8m | ▲ 73.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.06m | €0.05m | €0.1m | €0.3m | €0.4m | €0.4m | €0.4m | ▼ 2.5% |
| Other operating charges640/8 | - | - | - | €0.009m | €0.01m | €0.1m | €0.1m | ▲ 54.2% |
| Non-recurring operating charges66A | - | - | - | - | - | - | €0.2m | - |
| Gross operating margin9900 | €1.0m | €1.0m | €0.8m | €1.6m | €2.0m | €3.8m | - | - |
| Operating profit (loss)9901 | €0.2m | €0.2m | €0.06m | €0.7m | €0.8m | €2.3m | €0.9m | ▼ 58.3% |
| Financial income75/76B | - | - | - | €0.006m | €1 | €0.003m | €2.0m | ▲ 704× |
| Recurring financial income75 | €1 | €0.01m | €0.004m | €0.006m | €1 | €0.003m | €0.02m | ▲ 704% |
| Other financial income752/9 | - | - | - | - | - | - | €0.02m | - |
| Non-recurring financial income76B | - | - | - | - | - | - | €2.0m | - |
| Financial charges65/66B | - | - | - | €0.04m | €0.1m | €0.1m | €0.9m | ▲ 472% |
| Recurring financial charges65 | €0.02m | €0.07m | €0.05m | €0.04m | €0.1m | €0.1m | €0.3m | ▲ 75.0% |
| Debt charges650 | - | - | - | - | - | - | €0.2m | - |
| Other financial charges652/9 | - | - | - | - | - | - | €0.03m | - |
| Non-recurring financial charges66B | - | - | - | - | - | - | €0.6m | - |
| Profit (loss) for the period before taxes9903 | €0.2m | €0.2m | €0.02m | €0.6m | €0.7m | €2.1m | €2.1m | ▼ 0.2% |
| Income taxes67/77 | €0.08m | €0.09m | €0.03m | €0.2m | €0.2m | €0.6m | €0.2m | ▼ 66.7% |
| Taxes670/3 | - | - | - | - | - | - | €0.2m | - |
| Profit (loss) for the period9904 | €0.1m | €0.08m | -€0.008m | €0.5m | €0.5m | €1.6m | €1.9m | ▲ 23.8% |
| Transfer from tax-exempt reserves789 | - | - | - | €0.03m | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €0.1m | €0.08m | €0.08m | €0.5m | €0.5m | €1.6m | €1.9m | ▲ 23.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €2.6m | €3.1m | €5.1m | €4.4m | €10.0m | €8.8m | €10.2m | ▲ 16.3% |
| Fixed assets21/28 | €1.6m | €1.6m | €2.9m | €2.8m | €8.1m | €8.0m | €8.0m | ▲ 0.8% |
| Intangible fixed assets21 | €83 | - | - | - | - | - | €0.09m | - |
| Tangible fixed assets22/27 | €0.08m | €0.1m | €1.4m | €1.3m | €1.2m | €1.0m | €1.3m | ▲ 28.7% |
| Land and buildings22 | - | - | - | €0.005m | €0.005m | €0.02m | €0.02m | ▼ 5.8% |
| Plant, machinery and equipment23 | - | - | - | €0.06m | €0.4m | €0.5m | €0.3m | ▼ 37.0% |
| Furniture and vehicles24 | - | - | - | €0.1m | €0.04m | €0.04m | €0.07m | ▲ 58.0% |
| Leasing and similar rights25 | - | - | - | €1.1m | €0.8m | €0.5m | €0.2m | ▼ 60.1% |
| Other tangible fixed assets26 | - | - | - | - | - | - | €0.1m | - |
| Assets under construction and advance payments27 | - | - | - | - | - | - | €0.7m | - |
| Financial fixed assets28 | €1.5m | €1.5m | €1.5m | €1.5m | €6.9m | €6.9m | €6.6m | ▼ 4.8% |
| Affiliated companies280/1 | - | - | - | - | - | - | €6.6m | - |
| Participating interests280 | - | - | - | - | - | - | €6.6m | - |
| Current assets29/58 | €1.0m | €1.5m | €2.2m | €1.6m | €1.9m | €0.8m | €2.2m | ▲ 165% |
| Stocks and contracts in progress3 | €0.1m | €0.2m | €0.2m | €0.1m | €0.2m | €0.2m | €0.3m | ▲ 32.8% |
| Stocks30/36 | - | - | - | €0.1m | €0.2m | €0.2m | €0.3m | ▲ 32.8% |
| Raw materials and consumables30/31 | - | - | - | - | - | - | €0.3m | - |
| Goods purchased for resale34 | - | - | - | - | - | - | €0.05m | - |
| Amounts receivable within one year40/41 | €0.9m | €1.1m | €1.8m | €1.0m | €1.1m | €0.5m | €1.3m | ▲ 166% |
| Trade receivables40 | - | - | - | €1.0m | €0.5m | €0.5m | €1.1m | ▲ 114% |
| Other amounts receivable41 | - | - | - | €0.05m | €0.6m | €0.001m | €0.3m | ▲ 243× |
| Current investments50/53 | €0.04m | - | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €0.02m | €0.2m | €0.2m | €0.4m | €0.6m | €0.08m | €0.5m | ▲ 578% |
| Deferred charges and accrued income490/1 | - | - | - | €0.01m | €0.01m | €0.005m | €0.004m | ▼ 15.6% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €2.6m | €3.1m | €5.1m | €4.4m | €10.0m | €8.8m | €10.2m | ▲ 16.3% |
| Equity10/15 | €0.7m | €0.8m | €0.8m | €1.3m | €1.8m | €3.4m | €5.3m | ▲ 56.8% |
| Contributions10/11 | €0.03m | €0.03m | - | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Contributions outside capital11 | - | - | - | €0.03m | - | - | - | - |
| Other1109/19 | - | - | - | €0.03m | - | - | - | - |
| Reserves13 | €0.7m | €0.8m | €0.7m | €1.3m | €1.8m | €3.4m | €3.4m | = |
| Non-distributable reserves130/1 | - | - | - | €0.003m | €0.003m | €0.003m | €0 | ▼ 100% |
| Reserves not available under the articles1311 | - | - | - | €0.003m | €0.003m | €0.003m | €0 | ▼ 100% |
| Distributable reserves133 | - | - | - | €1.3m | €1.8m | €3.4m | €3.4m | ▲ 0.1% |
| Profit (loss) carried forward14 | €0.002m | €0.002m | €0.08m | - | - | - | €1.9m | - |
| Amounts payable17/49 | €1.9m | €2.3m | €4.3m | €3.1m | €8.2m | €5.4m | €4.9m | ▼ 9.2% |
| Amounts payable after more than one year17 | €0.7m | €0.7m | €1.6m | €1.1m | €3.9m | €2.8m | €0 | ▼ 100% |
| Financial debts170/4 | - | - | - | €1.1m | €3.9m | €2.8m | €0 | ▼ 100% |
| Leasing and similar obligations172 | - | - | - | - | - | - | €0 | - |
| Credit institutions173 | - | - | - | - | - | - | €0 | - |
| Other loans174 | - | - | - | - | - | - | €0 | - |
| Amounts payable within one year42/48 | €1.2m | €1.7m | €2.7m | €2.0m | €3.7m | €2.5m | €4.9m | ▲ 99.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.6m | €1.4m | €1.2m | €0.2m | ▼ 82.5% |
| Trade debts44 | €0.9m | €0.6m | €1.0m | €1.1m | €0.4m | €0.4m | €1.2m | ▲ 243% |
| Suppliers440/4 | - | - | - | €1.1m | €0.4m | €0.4m | €1.2m | ▲ 243% |
| Bills of exchange payable441 | - | - | - | €0.006m | - | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €0.3m | €0.1m | €0.5m | €0.9m | ▲ 67.4% |
| Taxes450/3 | - | - | - | €0.3m | €0.06m | €0.4m | €0.7m | ▲ 61.1% |
| Remuneration and social security454/9 | - | - | - | €0.06m | €0.04m | €0.1m | €0.2m | ▲ 91.3% |
| Other amounts payable47/48 | - | - | - | €350 | €1.8m | €0.4m | €2.6m | ▲ 584% |
| Accrued charges and deferred income492/3 | - | - | - | - | €0.5m | €0.1m | €0 | ▼ 100% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.1m | €0.08m | -€0.008m | €0.5m | €0.5m | €1.6m | €1.9m | ▲ 23.8% |
| + Depreciation and write-downs630 | €0.06m | €0.05m | €0.1m | €0.3m | €0.4m | €0.4m | €0.4m | ▼ 2.5% |
| Operating cash flow (approximation) | €0.2m | €0.1m | €0.1m | €0.8m | €0.9m | €1.9m | €2.3m | ▲ 18.7% |
| Investment in fixed assets (approximation) | - | -€0.1m | -€1.4m | -€0.2m | -€5.7m | -€0.2m | -€0.4m | ▼ 118% |
| Change in cash | - | €0.2m | €0.02m | €0.2m | €0.1m | -€0.5m | €0.4m | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 24 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2024 | full format | 29-08-2025 | 2025-00471722 |
| 31-12-2023 | abbreviated format | 11-09-2024 | 2024-00458827 |
| 31-12-2022 | abbreviated format | 31-08-2023 | 2023-00393497 |
| 31-12-2021 | abbreviated format | 09-08-2022 | 2022-20281941 |
| 31-12-2020 | abbreviated format | 30-09-2021 | 2021-70500515 |
| 31-12-2019 | abbreviated format | 31-10-2020 | 2020-67700109 |
| 31-12-2018 | abbreviated format | 29-08-2019 | 2019-60700313 |
| 31-12-2017 | abbreviated format | 27-08-2018 | 2018-51000476 |
| 31-12-2016 | abbreviated format | 28-08-2017 | 2017-49700422 |
| 31-12-2015 | abbreviated format | 31-08-2016 | 2016-55000539 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.