PAN Construct
ActiveSummary
The annual accounts of PAN Construct for fiscal year 2025 show a net loss of 57% of total assets. The 2025 annual accounts show equity of €20,949 and a net result of -€13,099. The figures fluctuate too strongly year-on-year for a reliable trend projection. The company has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
This company filed its last 7 accounts on average 62 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (2)
History
Go further with this company
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Click a name to add, emphasise or remove a line.
Peer companies
Historical observationOf the 5,836 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 84% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a loss of 10% of the balance sheet or more
A further 0.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.2% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 5,836 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €3,316 | €350 | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €224 | - | - | - | - | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | -€100,000 | -€67,550 | -€35,000 | €0 | - | - |
| Other operating charges640/8 | €377 | €379 | €418 | €501 | €436 | ▼ 12.9% |
| Non-recurring operating charges66A | - | - | €35,000 | €6,000 | €0 | ▼ 100% |
| Gross operating margin9900 | -€13,278 | -€9,043 | -€23,862 | €473 | -€12,616 | ▼ 2,765% |
| Operating profit (loss)9901 | €86,121 | €58,128 | -€24,280 | -€6,027 | -€13,052 | ▼ 117% |
| Financial income75/76B | - | - | €17 | €30 | €0 | ▼ 100% |
| Recurring financial income75 | - | - | €17 | €30 | €0 | ▼ 100% |
| Financial charges65/66B | €67 | €109 | €99 | €103 | €47 | ▼ 54.7% |
| Recurring financial charges65 | €67 | €109 | €99 | €103 | €47 | ▼ 54.7% |
| Profit (loss) for the period before taxes9903 | €86,053 | €58,019 | -€24,363 | -€6,100 | -€13,099 | ▼ 115% |
| Income taxes67/77 | - | - | €5 | €1 | €0 | ▼ 100% |
| Profit (loss) for the period9904 | €86,053 | €58,019 | -€24,368 | -€6,101 | -€13,099 | ▼ 115% |
| Profit (loss) for the period to be appropriated9905 | €86,053 | €58,019 | -€24,368 | -€6,101 | -€13,099 | ▼ 115% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €112,359 | €99,802 | €44,582 | €34,048 | €23,075 | ▼ 32.2% |
| Current assets29/58 | €112,359 | €99,802 | €44,582 | €34,048 | €23,075 | ▼ 32.2% |
| Stocks and contracts in progress3 | €2,000 | €2,000 | - | - | - | - |
| Stocks30/36 | €2,000 | €2,000 | - | - | - | - |
| Amounts receivable within one year40/41 | €32,503 | €31,538 | €22,286 | €0 | €18,500 | - |
| Trade receivables40 | - | - | €6,000 | €0 | €18,500 | - |
| Other amounts receivable41 | €32,503 | €31,538 | €16,286 | €0 | - | - |
| Cash at bank and in hand54/58 | €77,856 | €66,264 | €22,296 | €34,048 | €4,575 | ▼ 86.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €112,359 | €99,802 | €44,582 | €34,048 | €23,075 | ▼ 32.2% |
| Equity10/15 | €6,498 | €64,517 | €40,149 | €34,048 | €20,949 | ▼ 38.5% |
| Contributions10/11 | €37,200 | €37,200 | €37,200 | €37,200 | €37,200 | = |
| Capital10 | €37,200 | €37,200 | - | - | - | - |
| Issued capital100 | €37,200 | €37,200 | - | - | - | - |
| Reserves13 | €10,390 | €10,390 | €10,390 | €10,390 | €10,390 | = |
| Non-distributable reserves130/1 | €3,720 | €3,720 | €3,720 | €3,720 | €3,720 | = |
| Legal reserve130 | €3,720 | €3,720 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | €3,720 | €3,720 | €3,720 | = |
| Tax-exempt reserves132 | €6,670 | €6,670 | €6,670 | €6,670 | €6,670 | = |
| Profit (loss) carried forward14 | -€41,092 | €16,927 | -€7,441 | -€13,542 | -€26,641 | ▼ 96.7% |
| Provisions and deferred taxes16 | €102,550 | €35,000 | - | - | - | - |
| Provisions for liabilities and charges160/5 | €102,550 | €35,000 | - | - | - | - |
| Other liabilities and charges164/5 | €102,550 | €35,000 | - | - | - | - |
| Amounts payable17/49 | €3,311 | €285 | €4,432 | €0 | €2,126 | - |
| Amounts payable within one year42/48 | €3,311 | €285 | €4,432 | €0 | €2,126 | - |
| Trade debts44 | €3,311 | €285 | €4,432 | €0 | €400 | - |
| Suppliers440/4 | €3,311 | €285 | €4,432 | €0 | €400 | - |
| Other amounts payable47/48 | - | - | - | - | €1,726 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €86,053 | €58,019 | -€24,368 | -€6,101 | -€13,099 | ▼ 115% |
| + Depreciation and write-downs630 | €224 | - | - | - | - | - |
| Operating cash flow (approximation) | €86,277 | €58,019 | -€24,368 | -€6,101 | -€13,099 | ▼ 115% |
| Change in cash | - | -€11,592 | -€43,968 | €11,752 | -€29,473 | ▼ 351% |
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
About the unread acts
We know of 6 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Directors · office · real estate
1 establishment unit
2 parcels
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25108B0095/00T003 | Wallonia | 1,073 m² | 1 · 178 m² | 10.7 m · 3 fl. |
| 25090D0335/00N007 | Wallonia | 741 m² | 1 · 192 m² | 7.5 m · 2 fl. |
Linked by address, not proof of ownership
Identification & contact
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
What can you do?
Try sending from your invoicing software; if that fails, ask the customer whether they already receive via Peppol.
If the customer is not ready yet, you may send the invoice another way, for example as a PDF; if electronically, with their agreement on a secure alternative. That invoice is valid; the customer risks a penalty. FPS Finance
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.