Panaché
ActiveThe computed 12-month bankruptcy probability of Panaché is 1.6% (moderate). The 2025 annual accounts show equity of €40k and a net result of €-10k. Equity remains stable across the filed fiscal years (±0.6% per year). Its solvency ranks better than 86% of 13240 sector peers (fiscal year 2025). The company has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
51
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0▼-4
Solvency99▼-1
Growth32▼-20
Track record100
Bankruptcy probability, 12 months
1.6%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €2k at 30 days acceptable
Liquidity ample (current ratio 3.84 against 7.88 in 2024; short-term debt: 26% and cash: 0.1% of total assets), and 26% 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 56
Relative position
BE, all sectors
reference
Sector 56
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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
74%
Return on assets
-19%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-10k
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 10-08-2026, 10 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
10 d late
2024
26 d late
2023
9 d early
2022
25 d late
2021
29 d late
2020
58 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 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
21-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€40k▼ 20.4%
2024 · €51k
2018: €43k
2019: €36k
2020: €62k
2021: €56k
2022: €57k
2023: €57k
2024: €51k
2018 → 2025
Total assets
€54k▼ 4.7%
2024 · €57k
2018: €61k
2019: €97k
2020: €109k
2021: €79k
2022: €64k
2023: €62k
2024: €57k
2018 → 2025
Net result
€-10k▼ 56.6%
2024 · €-7k
2018: €25k
2019: €-7k
2020: €26k
2021: €-6k
2022: €2k
2023: €-200
2024: €-7k
2018 → 2025
Working capital
€40k▼ 10.4%
2024 · €45k
2018: €41k
2019: €27k
2020: €56k
2021: €56k
2022: €47k
2023: €49k
2024: €45k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€56k-€57k▲ 2.7%€57k▼ 0.3%€51k▼ 11.5%€40k▼ 20.4%
Operating result€-3k-€1k€196▼ 86.4%€-6k€-10k▼ 67.4%
Net result€-6k-€2k€-200€-7k▼ 3,205%€-10k▼ 56.6%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €10k in 2025 against €6k in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €54k
Equity
€40k▼ 20.4%
Debt
€14k▲ 117%
The debt ratio rises from 11.4% to 26.0%. Equity is lower and debt is higher.
Key figures and ratios
Solvency
74.0%▼
2024 · 88.6%
Current ratio
3.84▼
2024 · 7.88
Quick ratio
3.84▼
2024 · 7.88
Debt / equity
0.35▲
2024 · 0.13
ROE
-25.7%▼
2024 · -13.1%
ROA
-19.0%▼
2024 · -11.6%
Debt
€14k▲
2024 · €7k
Debt ≤ 1 year
€14k▲
2024 · €7k
Income taxes
€144▼
2024 · €157
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€57k€54k▼
Fixed assets21/28€6k-
Tangible fixed assets22/27€6k-
Furniture and vehicles24€6k-
Current assets29/58€51k€54k▲
Amounts receivable within one year40/41€51k€54k▲
Trade receivables40€13k€13k▲
Other amounts receivable41€39k€41k▲
Cash at bank and in hand54/58€192€52▼
Deferred charges and accrued income490/1-€737
Equity and liabilities
Total equity and liabilities10/49€57k€54k▼
Equity10/15€51k€40k▼
Contributions10/11€6k€6k=
Reserves13€44k€34k▼
Distributable reserves133€44k€34k▼
Amounts payable17/49€7k€14k▲
Amounts payable within one year42/48€7k€14k▲
Trade debts44€1k€3k▲
Suppliers440/4€1k€3k▲
Taxes, remuneration and social security45€364€338▼
Taxes450/3€364€338▼
Other amounts payable47/48€5k€11k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2k-
Other operating charges640/8€4k€4k▲
Non-recurring operating charges66A-€4k
Gross operating margin9900€-93€-2k▼
Operating profit (loss)9901€-6k€-10k▼
Financial income75/76B€1€0▼
Recurring financial income75€1€0▼
Financial charges65/66B€384€45▼
Recurring financial charges65€384€45▼
Profit (loss) for the period before taxes9903€-6k€-10k▼
Income taxes67/77€157€144▼
Profit (loss) for the period9904€-7k€-10k▼
Profit (loss) for the period to be appropriated9905€-7k€-10k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-7k€-10k▼
Transfer from equity791/2€7k€10k▲
The notes to these accounts (5 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
10-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 10 days late
2025
31-12
Financial
Weakest financial yearnet €-10k
Net result drops to €-10k, the lowest in the series.
26-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 26 days late
2024
22-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
25-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 25 days late
2022
31-12
Financial
Back to profitnet €2k
Net result €2k after one loss-making year.
31-12
Financial
Liquidity doublescurrent ratio 8.17
Current ratio from 3.45 to 8.17; short-term debt falls from €23k to €7k.
29-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 29 days late
2021
27-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 58 days late
2020
31-12
Financial
Back to profitnet €26k
Net result €26k after one loss-making year.
31-12
Financial
Liquidity doublescurrent ratio 5.08
Current ratio from 2.33 to 5.08; short-term debt falls from €20k to €14k.
31-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
11-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
29-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 29 days late
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 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, Merelbeke-Melle · 1 establishment unit since 2009
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.
Binnenwijk 49820 Merelbeke-MelleGround area
4,428 m²
Building footprint
236 m²
Volume, LiDAR
822 m³
2 parcels, Flanders · tallest building 15.7 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
Emile Braunplein 12, 9000 Gent
since 20092.190.291.177
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44412C0745/00N000 | Flanders | 4,367 m² | 1 · 175 m² | - |
| 44803C0238/00A000 | Flanders | 61 m² | 1 · 61 m² | 15.7 m · 5 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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BE 0771.593.131
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KING SQUARE
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Of 21,896 companies in sector 56112 we hold annual accounts for 9,785. 8,465 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded22-12-2009
Fiscal year end31-12
Activities, NACEBEL
56102Limited-service restaurants
56112Limited-service restaurants, excluding mobile food services
56210Event catering
Sources
Crossroads Bank for EnterprisesNational Bank · 16 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.