Financials
- Financial year
- 2025
- Total assets
- €194,209
- Loss
- -€5,870
- Solvency
- 2.9%
Total assets▼ 14.8%
Net result
20192025
PANCO
ActiveSummary
The annual accounts of PANCO for financial year 2025 show a net loss of 51% of the equity at the start of that year. The 2025 annual accounts show equity of €5,645 and a net result of -€5,870. Equity is growing by about 38% per year across the filed financial years. Its solvency ranks better than 10% of 34,728 sector peers (NACE 43, financial year 2025). The company has been active since 2008 and the Belgian Official Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.5% (low).
Overview
Activity
Other specialised construction activities
NACE 43990
1 site
Size
€194,209total assets 2025
- Equity
- €5,645
- Loss
- -€5,870
Turnover not published (micro format)
Structure
2025 accounts 29 days early1 of 3 deeds summarised
Why 53raises riskCapped at 59: a net loss of at least half of total assets or of the equity at the start of the financial yearEquity €5,645 (2.9% of total assets)Sector: Specialised construction activities (NACE 43)lowers riskSize: total assets €194,209Founded in 2008Show the evidence
Checked score
Score 2025
53
/ 100
Fair
Probability in this band: 1.5% to 4.2%
Financially better than 15% of its sector peers (NACE 43, micro)
A net loss of at least half of total assets or of the equity at the start of the financial year caps the score at 59. Every signal that counts is listed under Signals.
Financial strength · tick = 2024
Weak
Solvency
28-2
equity 2.9% of total assets
Liquidity
21-2
short-term debt 93.7% · cash 16.6%
Profitability
65-15
return on assets -3.0%
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
About 5 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
11-2024: 0.5%
12-2024: 0.5%● unchanged vs 11-2024
01-2025: 0.5%● unchanged vs 12-2024highest value
02-2025: 0.5%● unchanged vs 01-2025
03-2025: 0.5%● unchanged vs 02-2025
04-2025: 0.5%● unchanged vs 03-2025
05-2025: 0.4%▼ -0.1 percentage points vs 04-2025
06-2025: 0.4%● unchanged vs 05-2025
07-2025: 0.4%● unchanged vs 06-2025
08-2025: 0.4%● unchanged vs 07-2025
09-2025: 0.4%● unchanged vs 08-2025
10-2025: 0.4%● unchanged vs 09-2025lowest value
11-2025: 0.4%● unchanged vs 10-2025
12-2025: 0.4%● unchanged vs 11-2025
01-2026: 0.5%▲ +0.1 percentage points vs 12-2025
02-2026: 0.4%▼ -0.1 percentage points vs 01-2026
03-2026: 0.4%● unchanged vs 02-2026
04-2026: 0.5%▲ +0.1 percentage points vs 03-2026
05-2026: 0.5%● unchanged vs 04-2026
06-2026: 0.5%● unchanged vs 05-2026
07-2026: 0.5%● unchanged vs 06-2026
08-2026: 0.5%● unchanged vs 07-2026
09-2026: 0.5%● unchanged vs 08-2026
10-2026: 0.5%● unchanged vs 09-2026
No publishable credit limit; credit only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity insufficient (current ratio 0.45, compared with 0.4 in 2024, below 1; short-term debt: 93.7% and cash: 16.6% of total assets), and 97.1% of the assets are financed with debt and provisions.
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 43, micro): better than 10% on solvency, 12% on liquidity, 31% on profitability and 9% on growth.
The bankruptcy probability was computed on 27-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
Credit check for your own amount and term
Show the recommended maximum and see how the verdict changes with amount, term and advance.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 10% of 34728 sector peers (2025).
NBB · sector comparisonPosition among 34728 sector peers
Solvency
better than 10%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 01-04-2026, 29 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
29 days early
2024
21 days early
2023
33 days early
2022
2 days early
2021
60 days early
2020
49 days early
2019
74 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 17 days before the deadline; the sector median (NACE 43) for financial year 2024 is 1 day before the deadline, and 43% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The financial year that closed on 30-09-2026 is due by 30-04-2027. Nothing is late today. The company usually files around 1 April (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsWhere today falls in the filing period
30-09-2026 year end27-10-2026 today30-04-2027 deadline
- Annual accounts filedfinancial year 2025 · micro…
- Annual accounts filedfinancial year 2024 · micro…
- Resignation: PANNIER Victor (director)Director discharge
Key points
By topic
Timeline
- Events
- 20
- Since
- 2010
- Next accounts
- by 30-04-2027
- 28-03-2024Annual accounts filed
- 30-09-2023Back to profit
- 28-04-2023Annual accounts filed
Company details
- Sites
- 1
- Legal form
- Private limited company
- Activity
- Other specialised construction activitiesNACE 43990
- Founded
- 15-09-2008
- Year ends
- 30-09
- Peppol
- Reachable for e-invoices
Key facts about PANCO
- What is the company number of PANCO?
- 0806.514.715. In Belgium the VAT number is the company number with BE in front: BE 0806.514.715.
- Where is PANCO based?
- The registered office is at Onderzeel (C) 4, 2920 Kalmthout.Company details
- What does PANCO do?
- According to the KBO register, the main activity is other specialised construction activities (NACE 43990).
- What is the legal form of PANCO?
- Private limited company (BV).
- When was PANCO founded?
- On 15-09-2008.
- Is PANCO still active?
- Yes, PANCO is an active enterprise in the KBO register.
- What is the turnover of PANCO?
- Not stated in the processed annual accounts. The abridged format for small companies does not require turnover.Financials
- Is PANCO profitable?
- In financial year 2025, PANCO made a loss of €5,870.
- Where can I find the annual accounts of PANCO?
- PANCO filed 17 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of PANCO due?
- By 30-04-2027, for financial year 2026.Timeline
Companies related to PANCO
Comparable companies
- A.D. CONSTRUC FERRONNERIECerfontaine
- DEMAR BOUWDe Panne
- HM PiscinesDison
- Algemene Bouwwerken CalmeynGent
- D.B. WORKSZele
Go further with this company
How much credit can you give this customer, and on what payment terms?Credit check What should you check before you do business with this company?Supplier due diligence Can you trust this company with building work?Contractor check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check What support did similar companies receive that this one did not?Subsidies
Your own company? See how customers, suppliers and banks see it and what to improve first.
Investigating this company? Keep it with today's facts in a case file.