PAN - ALL
ActivePAN - ALL has been active since 1977 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €5.78M and a net result of €650k. Equity remains stable across the filed fiscal years (±1.2% per year). Its solvency ranks better than 82% of 2031 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
100
/ 100
Excellent▲ +15 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability51▲+25
Solvency100▲+1
Growth50=
Stability100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €600k at 30 days acceptable
Liquidity ample (current ratio 3.12 against 2.49 in 2024), and 28.7% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Sector 43
higher
← 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
71.3%
Return on assets
8%
Age of the figures
14 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 31-01-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
21 d early
2023
40 d early
2022
6 d early
2021
17 d late
2020
2 d late
2019
on the day
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close14-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€12.56M▼ 1.8%
2024 · €12.78M
2019: €12.50M
2020: €12.26M
2021: €12.06M
2022: €12.53M
2023: €12.70M
2024: €12.78M
2019 → 2025
EBIT margin
6.8%▲ 4.5pp
2024 · 2.3%
2019: 2.2%
2020: 2.7%
2021: 4.0%
2022: 0.6%
2023: 6.3%
2024: 2.3%
2019 → 2025
Net result
€650k▲ 183%
2024 · €230k
2019: €194k
2020: €239k
2021: €346k
2022: €37k
2023: €593k
2024: €230k
2019 → 2025
Working capital
€4.89M▲ 18.1%
2024 · €4.14M
2019: €5.13M
2020: €5.46M
2021: €5.24M
2022: €4.61M
2023: €4.27M
2024: €4.14M
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€12.06M-€12.53M▲ 3.9%€12.70M▲ 1.4%€12.78M▲ 0.6%€12.56M▼ 1.8%
Equity€5.78M-€5.81M▲ 0.6%€5.55M▼ 4.6%€5.18M▼ 6.7%€5.78M▲ 11.6%
Operating result€479k-€79k▼ 83.5%€806k▲ 921%€290k▼ 64.1%€856k▲ 195%
Net result€346k-€37k▼ 89.2%€593k▲ 1,485%€230k▼ 61.2%€650k▲ 183%
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 195% above 2024 and is the highest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €8.10M
Fixed assets
€903k▼ 21.8%
Current assets
€7.20M▲ 4.0%
Equity and liabilities €8.10M
Equity
€5.78M▲ 11.6%
Debt
€2.33M▼ 19.9%
The debt ratio falls from 35.9% to 28.7%: equity grows while debt is paid down.
Key figures and ratios
EBITDA
€1.12M▲
2024 · €574k
Cash flow
€913k▲
2024 · €515k
Solvency
71.3%▲
2024 · 64.1%
Current ratio
3.12▲
2024 · 2.49
Quick ratio
2.77▲
2024 · 2.14
Debt / equity
0.40▼
2024 · 0.56
ROE
11.3%▲
2024 · 4.4%
ROA
8.0%▲
2024 · 2.8%
Interest coverage
126.36▲
2024 · 59.18
Debt
€2.33M▼
2024 · €2.90M
Debt ≤ 1 year
€2.31M▼
2024 · €2.78M
Debt > 1 year
€15k▼
2024 · €118k
Income taxes
€231k▲
2024 · €96k
Staff costs
€3.37M▲
2024 · €3.26M
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€8.08M€8.10M▲
Fixed assets21/28€1.15M€903k▼
Tangible fixed assets22/27€1.15M€901k▼
Plant, machinery and equipment23€272k€212k▼
Furniture and vehicles24€416k€291k▼
Leasing and similar rights25€464k€399k▼
Financial fixed assets28€2k€2k=
Other financial fixed assets284/8€2k€2k=
Amounts receivable and cash guarantees285/8€2k€2k=
Current assets29/58€6.92M€7.20M▲
Stocks and contracts in progress3€971k€805k▼
Stocks30/36€603k€613k▲
Goods purchased for resale34€603k€613k▲
Contracts in progress37€368k€192k▼
Amounts receivable within one year40/41€3.01M€2.75M▼
Trade receivables40€2.59M€2.54M▼
Other amounts receivable41€422k€213k▼
Current investments50/53€500k€1.45M▲
Other investments51/53€500k€1.45M▲
Cash at bank and in hand54/58€2.37M€2.14M▼
Deferred charges and accrued income490/1€76k€49k▼
Equity and liabilities
Total equity and liabilities10/49€8.08M€8.10M▲
Equity10/15€5.18M€5.78M▲
Contributions10/11€417k€417k=
Capital10€417k€417k=
Issued capital100€417k€417k=
Reserves13€1.77M€1.77M=
Non-distributable reserves130/1€42k€42k=
Legal reserve130€42k€42k=
Tax-exempt reserves132€130k€130k=
Distributable reserves133€1.60M€1.60M=
Profit (loss) carried forward14€2.99M€3.59M▲
Amounts payable17/49€2.90M€2.33M▼
Amounts payable after more than one year17€118k€15k▼
Financial debts170/4€118k€15k▼
Leasing and similar obligations172€118k€15k▼
Amounts payable within one year42/48€2.78M€2.31M▼
Current portion of amounts payable after more than one year42€102k€103k▲
Trade debts44€1.90M€1.60M▼
Suppliers440/4€1.90M€1.60M▼
Taxes, remuneration and social security45€541k€545k▲
Taxes450/3€88k€130k▲
Remuneration and social security454/9€453k€416k▼
Other amounts payable47/48€244k€66k▼
Accrued charges and deferred income492/3€69€68▼
Income statement
Code20242025
Operating income70/76A€12.84M€12.48M▼
Turnover70€12.78M€12.56M▼
Change in stocks of work in progress, finished goods and contracts in progress71€-21k€-176k▼
Other operating income74€77k€95k▲
Operating charges60/66A€12.55M€11.62M▼
Goods for resale, raw materials and consumables60€6.58M€5.91M▼
Purchases600/8€6.58M€5.92M▼
Change in stocks: decrease (increase)609€5k€-10k▼
Services and other goods61€2.33M€2.05M▼
Remuneration, social security and pensions62€3.26M€3.37M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€285k€263k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€66k€-10k▼
Other operating charges640/8€26k€40k▲
Operating profit (loss)9901€290k€856k▲
Financial income75/76B€56k€36k▼
Recurring financial income75€56k€36k▼
Income from financial fixed assets750€35k€31k▼
Other financial income752/9€21k€4k▼
Financial charges65/66B€20k€10k▼
Recurring financial charges65€20k€10k▼
Debt charges650€10k€9k▼
Other financial charges652/9€10k€895▼
Profit (loss) for the period before taxes9903€326k€881k▲
Income taxes67/77€96k€231k▲
Taxes670/3€96k€231k▲
Profit (loss) for the period9904€230k€650k▲
Transfer to tax-exempt reserves689€84k-
Profit (loss) for the period to be appropriated9905€146k€650k▲
Appropriation of the result
Profit (loss) to be appropriated9906€3.21M€3.64M▲
Profit (loss) brought forward from the previous period14P€3.06M€2.99M▼
Profit to be distributed694/7€220k€50k▼
Return on contributions (dividend)694€220k€50k▼
Social balance
Average headcount (FTE)908756.457.4▲
The notes to these accounts (51 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-01
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
30-06
Financial
Highest result since 2019net €650k ▲183%
Operating result €856k, net result €650k, both a record.
10-01
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2023
22-12
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
25-01
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
30-06
Financial
Weakest financial yearnet €37k ▼89.2%
Net result drops to €37k, the lowest in the series; recovery starts the following year.
17-02
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 17 days late
2021
02-02
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 2 days late
2020
31-01
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-01
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
12-02
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 12 days late
2017
22-02
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 22 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
8 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, Geraardsbergen · 1 establishment unit since 1977
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.
Diebeke(Sch) 139500 Geraardsbergen1 establishment unit
Diebeke(Sch) 13, 9500 Geraardsbergen
since 19772.014.198.664
Public money · subsidies and aid
Flemish government
2022 to 2025 · 7 entries · 21,566 EUR awarded · 21,303 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 3 | 288 EUR | 10,469 EUR |
| 2024 | 1 | 172 EUR | 185 EUR |
| 2023 | 2 | 20,973 EUR | 10,516 EUR |
| 2022 | 1 | 133 EUR | 133 EUR |
Schemes
Kmo-groeisubsidie: steun voor groeitrajecten bij kmo's (stopgezet)
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Recognised contractor
2 categoriesPAN - ALL NV16890
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Of 19,947 companies in sector 43320 we hold annual accounts for 9,084. 1,129 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded20-10-1977
Fiscal year end30-06
Activities, NACEBEL
43320Joinery installation
45421
43230Insulation installation
43291Specialised construction activities
43333Wallpapering and laying of floor and wall coverings in other materials
45433
Sources
Crossroads Bank for EnterprisesNational Bank · 47 filings
Data from official sources, last processed on 13-09-2026. Scores and ratios are computed by Checked and are not a credit decision.