PAND-X
ActivePAND-X has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €82k and a net result of €21k. Equity is growing by ~63.7% per year across the filed fiscal years. Its solvency ranks better than 75% of 14056 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
77
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability89▼-11
Solvency90▲+10
Growth78=
Track record94
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6k at 30 days acceptable
Liquidity ample (current ratio 2.11 against 1.82 in 2024; short-term debt: 35.1% and cash: 14.1% of total assets), and 35.2% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Sector 68
lower
← fewer bankruptcies
more bankruptcies →
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
64.8%
Return on assets
16.2%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-08-2026, 30 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 · 4 filingsDeviation from the deadline
2025
30 d late
2024
21 d late
2023
5 d late
2022
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
22-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€82k▲ 31.6%
2024 · €62k
2022: €13k
2023: €6k
2024: €62k
2022 → 2025
Total assets
€127k▲ 11.3%
2024 · €114k
2022: €59k
2023: €50k
2024: €114k
2022 → 2025
Net result
€21k▼ 63.8%
2024 · €57k
2022: €12k
2023: €-6k
2024: €57k
2022 → 2025
Working capital
€49k▲ 17.7%
2024 · €42k
2022: €10k
2023: €-3k
2024: €42k
2022 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2022202320242025Trend
Equity€13k-€6k▼ 49.2%€62k▲ 859%€82k▲ 31.6%
Operating result€17k-€-6k€72k€28k▼ 61.5%
Net result€12k-€-6k€57k€21k▼ 63.8%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 62% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €127k
Fixed assets
€33k▲ 59.3%
Current assets
€93k▲ 0.6%
Equity and liabilities €127k
Equity
€82k▲ 31.6%
Debt
€45k▼ 13.2%
The debt ratio falls from 45.2% to 35.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€35k▼
2024 · €76k
Cash flow
€28k▼
2024 · €61k
Solvency
64.8%▲
2024 · 54.8%
Current ratio
2.11▲
2024 · 1.82
Quick ratio
2.11▲
2024 · 1.82
Debt / equity
0.54▼
2024 · 0.82
ROE
25.0%▼
2024 · 90.9%
ROA
16.2%▼
2024 · 49.8%
Interest coverage
31.26▼
2024 · 278.95
Debt
€45k▼
2024 · €51k
Debt ≤ 1 year
€44k▼
2024 · €51k
Income taxes
€7k▼
2024 · €15k
Staff costs
€58k▼
2024 · €59k
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€114k€127k▲
Fixed assets21/28€21k€33k▲
Tangible fixed assets22/27€21k€33k▲
Plant, machinery and equipment23€478€1k▲
Furniture and vehicles24€20k€32k▲
Current assets29/58€93k€93k▲
Amounts receivable within one year40/41€44k€69k▲
Trade receivables40€18k€31k▲
Other amounts receivable41€25k€38k▲
Cash at bank and in hand54/58€48k€18k▼
Deferred charges and accrued income490/1€1k€6k▲
Equity and liabilities
Total equity and liabilities10/49€114k€127k▲
Equity10/15€62k€82k▲
Contributions10/11€2k€2k=
Reserves13€11k€11k=
Distributable reserves133€11k€11k=
Profit (loss) carried forward14€50k€69k▲
Amounts payable17/49€51k€45k▼
Amounts payable within one year42/48€51k€44k▼
Trade debts44€20k€32k▲
Suppliers440/4€20k€32k▲
Taxes, remuneration and social security45€30k€12k▼
Taxes450/3€23k€6k▼
Remuneration and social security454/9€6k€5k▼
Other amounts payable47/48€2k€918▼
Accrued charges and deferred income492/3€150€150=
Income statement
Code20242025
Remuneration, social security and pensions62€59k€58k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€5k€8k▲
Other operating charges640/8€1k€2k▲
Non-recurring operating charges66A-€295
Gross operating margin9900€137k€96k▼
Operating profit (loss)9901€72k€28k▼
Financial income75/76B€524€1k▲
Recurring financial income75€524€1k▲
Financial charges65/66B€274€1k▲
Recurring financial charges65€274€1k▲
Profit (loss) for the period before taxes9903€72k€28k▼
Income taxes67/77€15k€7k▼
Profit (loss) for the period9904€57k€21k▼
Profit (loss) for the period to be appropriated9905€57k€21k▼
Appropriation of the result
Profit (loss) to be appropriated9906€50k€70k▲
Profit (loss) brought forward from the previous period14P€-6k€50k▲
Profit to be distributed694/7€833€833=
Return on contributions (dividend)694€833€833=
The notes to these accounts (8 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
30-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 30 days late
2025
21-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 21 days late
2024
31-12
Financial
Back to profitnet €57k
Net result €57k after one loss-making year.
05-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 5 days late
2023
31-12
Financial
Weakest financial yearnet €-6k ▼154%
Net result drops to €-6k, the lowest in the series; recovery starts the following year.
31-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
3 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, Asse · 1 establishment unit since 2021
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.
Gemeenteplein 12A1730 AsseGround area
1,334 m²
Building footprint
1,269 m²
Volume, LiDAR
8,186 m³
2 parcels, Flanders · tallest building 15.6 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
PAND-X
since 20212.320.772.510
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23095B0028/00Z002 | Flanders | 1,052 m² | 1 · 1,052 m² | 9.2 m · 2 fl. |
| 23322L0385/00F000 | Flanders | 281 m² | 1 · 217 m² | 15.6 m · 3 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.
Public money · subsidies and aid
Flemish government
2023 · 1 entry · 632 EUR awarded · 632 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 632 EUR | 632 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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DL ESTATE MANAGEMENT
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LC PARTNERS
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Of 11,750 companies in sector 68310 we hold annual accounts for 6,907. 5,133 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded11-08-2021
Fiscal year end31-12
Activities, NACEBEL
68310Real estate agency activities
68311Real estate activities
68110Buying and selling of own real estate
68321Property management for co-owned buildings (syndics)
68322Real estate activities
69109Other legal services
70200Business and other management consultancy
70220Business consulting
Sources
Crossroads Bank for EnterprisesNational Bank · 4 filingsAddress and cadastre registers
Data from official sources, last processed on 22-09-2026. Scores and ratios are computed by Checked and are not a credit decision.