PALWIN
InactiveFinancials · financial year 2025, micro format
Equity
€78,957▼ 2.1%
2024 · €80,651
Total assets
€91,696▼ 17.7%
2024 · €111,366
Net result
€10,306▼ 80.4%
2024 · €52,505
Working capital
€67,836▲ 3.9%
2024 · €65,284
Trend over the years
2023 to 2025, 3 financial years
The operating result has fallen two years in a row; 2025 is 85% below 2024 and is the lowest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€9,959
2025
Net result€10,306
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€91,696
2025
Equity€78,957
2025
Debt€12,740
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€67,836
2025
Use the arrow keys on the chart for the figures per year.
Every figure with its change against the financial year before
favourable
unfavourable
Line202320242025
Operating result€71,087-€66,574▼ 6.3%€9,959▼ 85.0%
Net result€56,147-€52,505▼ 6.5%€10,306▼ 80.4%
Equity€28,147-€80,651▲ 187%€78,957▼ 2.1%
Total assets€64,258-€111,366▲ 73.3%€91,696▼ 17.7%
Debt€36,111-€30,715▼ 14.9%€12,740▼ 58.5%
Working capital€11,873-€65,284▲ 450%€67,836▲ 3.9%
Turnover and EBIT margin not published: the micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €91,696
Fixed assets
€11,121 ▼ 27.6%
Current assets
€80,575 ▼ 16.1%
Equity and liabilities €91,696
Equity
€78,957 ▼ 2.1%
Debt
€12,740 ▼ 58.5%
Debt's share of the balance-sheet total falls from 27.6% to 13.9%. Equity and debt are lower.
Key figures and ratios
EBITDA
€14,205▼
2024 · €70,310
Cash flow
€14,552▼
2024 · €56,240
Current ratio
6.32▲
2024 · 3.13
Debt to equity
0.16▼
2024 · 0.38
ROE
13.1%▼
2024 · 65.1%
ROA
11.2%▼
2024 · 47.1%
Interest coverage
over 100
2024 · over 100
Debt ≤ 1 year
€12,740▼
2024 · €30,715
Income taxes
€357▼
2024 · €14,216
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,127 | €3,736 | €4,246 | ▲ 13.7% |
| Other operating charges640/8 | €1,162 | €1,042 | €798 | ▼ 23.4% |
| Non-recurring operating charges66A | - | - | €8,264 | - |
| Gross operating margin9900 | €74,376 | €71,352 | €23,268 | ▼ 67.4% |
| Operating profit (loss)9901 | €71,087 | €66,574 | €9,959 | ▼ 85.0% |
| Financial income75/76B | €9 | €218 | €705 | ▲ 223% |
| Recurring financial income75 | €9 | €218 | €705 | ▲ 223% |
| Financial charges65/66B | €49 | €71 | €1 | ▼ 98.1% |
| Recurring financial charges65 | €49 | €71 | €1 | ▼ 98.1% |
| Profit (loss) for the period before taxes9903 | €71,047 | €66,721 | €10,662 | ▼ 84.0% |
| Income taxes67/77 | €14,900 | €14,216 | €357 | ▼ 97.5% |
| Profit (loss) for the period9904 | €56,147 | €52,505 | €10,306 | ▼ 80.4% |
| Profit (loss) for the period to be appropriated9905 | €56,147 | €52,505 | €10,306 | ▼ 80.4% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €64,258 | €111,366 | €91,696 | ▼ 17.7% |
| Fixed assets21/28 | €16,274 | €15,367 | €11,121 | ▼ 27.6% |
| Tangible fixed assets22/27 | €16,274 | €15,367 | €11,121 | ▼ 27.6% |
| Plant, machinery and equipment23 | €11,743 | €11,836 | €8,590 | ▼ 27.4% |
| Furniture and vehicles24 | €4,532 | €3,532 | €2,532 | ▼ 28.3% |
| Current assets29/58 | €47,984 | €95,999 | €80,575 | ▼ 16.1% |
| Amounts receivable after more than one year29 | - | - | €76,247 | - |
| Other amounts receivable291 | - | - | €76,247 | - |
| Amounts receivable within one year40/41 | €15,134 | €64,705 | €2,187 | ▼ 96.6% |
| Trade receivables40 | €15,125 | €28,940 | €0 | ▼ 100% |
| Other amounts receivable41 | €9 | €35,765 | €2,187 | ▼ 93.9% |
| Cash at bank and in hand54/58 | €32,081 | €30,489 | €852 | ▼ 97.2% |
| Deferred charges and accrued income490/1 | €768 | €805 | €1,289 | ▲ 60.2% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €64,258 | €111,366 | €91,696 | ▼ 17.7% |
| Equity10/15 | €28,147 | €80,651 | €78,957 | ▼ 2.1% |
| Contributions10/11 | €1,000 | €1,000 | €1,000 | = |
| Reserves13 | €27,147 | €79,651 | €77,957 | ▼ 2.1% |
| Distributable reserves133 | €27,147 | €79,651 | €77,957 | ▼ 2.1% |
| Profit (loss) carried forward14 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €36,111 | €30,715 | €12,740 | ▼ 58.5% |
| Amounts payable within one year42/48 | €36,111 | €30,715 | €12,740 | ▼ 58.5% |
| Trade debts44 | €1,719 | €11,420 | €399 | ▼ 96.5% |
| Suppliers440/4 | €1,719 | €11,420 | €399 | ▼ 96.5% |
| Taxes, remuneration and social security45 | €31,017 | €19,294 | €340 | ▼ 98.2% |
| Taxes450/3 | €31,017 | €16,794 | €340 | ▼ 98.0% |
| Remuneration and social security454/9 | - | €2,500 | €0 | ▼ 100% |
| Other amounts payable47/48 | €3,375 | €0 | €12,000 | - |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €56,147 | €52,505 | €10,306 | ▼ 80.4% |
| + Depreciation and write-downs630 | €2,127 | €3,736 | €4,246 | ▲ 13.7% |
| Operating cash flow (approximation) | €58,274 | €56,240 | €14,552 | ▼ 74.1% |
| Investment in fixed assets (approximation) | - | -€2,829 | €0 | - |
| Change in cash | - | -€1,592 | -€29,637 | ▼ 1,761% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (3)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 16-03-2026 | 2026-00055060 |
| 31-12-2024 | micro format | 27-08-2025 | 2025-00427867 |
| 31-12-2023 | micro format | 30-08-2024 | 2024-00443331 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.