PANDA
ActiveSummary
The computed 12-month bankruptcy probability of PANDA is 1.6% (moderate). The 2024 annual accounts show equity of €192k and a net result of €55k. Equity is growing by ~12% per year across the filed fiscal years. Its solvency ranks better than 95% of 18936 sector peers (fiscal year 2024). The company has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability100▲+5
Solvency100▲+12
Growth78=
Track record100
Bankruptcy probability, 12 months
1.6%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €11k at 30 days only on tighter terms
Liquidity ample (current ratio 7.21 against 2.18 in 2023; short-term debt: 11.7% and cash: 80.3% of total assets), and 11.7% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk
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
Food and beverage service activities (NACE 56)
about 206% more bankruptcies
← 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 · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 27-12-2025, 149 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
149 d late
2023
50 d late
2022
18 d early
2021
73 d early
2020
12 d late
2019
4 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€192k▲ 39.6%
2023 · €138k
2018: €97klowest in 7 years
2019: €103k▲ +6.3% vs 2018
2020: €114k▲ +10.0% vs 2019
2021: €133k▲ +16.4% vs 2020
2022: €156k▲ +17.8% vs 2021
2023: €138k▼ -11.9% vs 2022
2024: €192k▲ +39.6% vs 2023highest in 7 years
2018 → 2024
Total assets
€218k▼ 0.6%
2023 · €219k
2018: €125klowest in 7 years
2019: €127k▲ +1.4% vs 2018
2020: €126k▼ -0.3% vs 2019
2021: €143k▲ +13.4% vs 2020
2022: €181k▲ +26.5% vs 2021
2023: €219k▲ +20.8% vs 2022highest in 7 years
2024: €218k▼ -0.6% vs 2023
2018 → 2024
Net result
€55k▲ 18.1%
2023 · €46k
2018: €13k
2019: €6k▼ -52.7% vs 2018lowest in 7 years
2020: €10k▲ +68.1% vs 2019
2021: €19k▲ +80.1% vs 2020
2022: €24k▲ +26.7% vs 2021
2023: €46k▲ +95.2% vs 2022
2024: €55k▲ +18.1% vs 2023highest in 7 years
2018 → 2024
Working capital
€159k▲ 64.7%
2023 · €96k
2018: €70klowest in 7 years
2019: €74k▲ +5.4% vs 2018
2020: €83k▲ +12.3% vs 2019
2021: €106k▲ +27.8% vs 2020
2022: €111k▲ +3.9% vs 2021
2023: €96k▼ -12.9% vs 2022
2024: €159k▲ +64.7% vs 2023highest in 7 years
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€114k-€133k▲ 16.4%€156k▲ 17.8%€138k▼ 11.9%€192k▲ 39.6%
2020: €114klowest in 5 years
2021: €133k▲ +16.4% vs 2020
2022: €156k▲ +17.8% vs 2021
2023: €138k▼ -11.9% vs 2022
2024: €192k▲ +39.6% vs 2023highest in 5 years
Operating result€13k-€28k▲ 117%€31k▲ 11.4%€62k▲ 96.5%€82k▲ 32.2%
2020: €13klowest in 5 years
2021: €28k▲ +117% vs 2020
2022: €31k▲ +11.4% vs 2021
2023: €62k▲ +96.5% vs 2022
2024: €82k▲ +32.2% vs 2023highest in 5 years
Net result€10k-€19k▲ 80.1%€24k▲ 26.7%€46k▲ 95.2%€55k▲ 18.1%
2020: €10klowest in 5 years
2021: €19k▲ +80.1% vs 2020
2022: €24k▲ +26.7% vs 2021
2023: €46k▲ +95.2% vs 2022
2024: €55k▲ +18.1% vs 2023highest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2024 is 32% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €218k
Fixed assets
€33k ▼ 18.9%
Current assets
€184k ▲ 3.7%
Equity and liabilities €218k
Equity
€192k ▲ 39.6%
Debt
€26k ▼ 68.6%
Debt's share of the balance-sheet total falls from 37.2% to 11.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€90k▲
2023 · €70k
Cash flow
€62k▲
2023 · €54k
Current ratio
7.21▲
2023 · 2.18
Quick ratio
7.18▲
2023 · 2.17
Debt to equity
0.13▼
2023 · 0.59
ROE
28.4%▼
2023 · 33.5%
ROA
25.0%▲
2023 · 21.1%
Interest coverage
45.66▲
2023 · 32.83
Debt ≤ 1 year
€26k▼
2023 · €81k
Income taxes
€27k▲
2023 · €17k
Staff costs
€16k▲
2023 · €14k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 50 lines
Balance sheet
Code20232024
Assets
Total assets20/58€219k€218k▼
Fixed assets21/28€41k€33k▼
Tangible fixed assets22/27€37k€30k▼
Land and buildings22-€19k
Plant, machinery and equipment23€37k€11k▼
Financial fixed assets28€4k€4k=
Current assets29/58€178k€184k▲
Stocks and contracts in progress3€742€742=
Stocks30/36€742€742=
Amounts receivable within one year40/41€66k€9k▼
Trade receivables40€483-
Other amounts receivable41€65k€9k▼
Cash at bank and in hand54/58€111k€175k▲
Deferred charges and accrued income490/1€200€232▲
Equity and liabilities
Total equity and liabilities10/49€219k€218k▼
Equity10/15€138k€192k▲
Contributions10/11€40k€40k=
Reserves13€4k€152k▲
Non-distributable reserves130/1€4k€4k=
Reserves not available under the articles1311€4k€4k=
Distributable reserves133-€148k
Profit (loss) carried forward14€94k-
Amounts payable17/49€81k€26k▼
Amounts payable within one year42/48€81k€26k▼
Financial debts43€3k€3k▼
Credit institutions430/8€3k€3k▼
Trade debts44€6k€4k▼
Suppliers440/4€6k€4k▼
Taxes, remuneration and social security45€7k€18k▲
Taxes450/3€7k€18k▲
Other amounts payable47/48€65k-
Income statement
Code20232024
Remuneration, social security and pensions62€14k€16k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€8k€8k▼
Other operating charges640/8€4k€5k▲
Gross operating margin9900€88k€110k▲
Operating profit (loss)9901€62k€82k▲
Financial income75/76B€3k€2k▼
Recurring financial income75€3k€2k▼
Financial charges65/66B€2k€2k▼
Recurring financial charges65€2k€2k▼
Profit (loss) for the period before taxes9903€63k€82k▲
Income taxes67/77€17k€27k▲
Profit (loss) for the period9904€46k€55k▲
Profit (loss) for the period to be appropriated9905€46k€55k▲
Appropriation of the result
Profit (loss) to be appropriated9906€158k€148k▼
Profit (loss) brought forward from the previous period14P€112k€94k▼
Transfer to equity691/2-€148k
To other reserves6921-€148k
Profit to be distributed694/7€65k-
Return on contributions (dividend)694€65k-
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €4k | €10k | €14k | €16k | ▲ 14.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5k | €6k | €6k | €8k | €8k | ▼ 4.6% |
| Other operating charges640/8 | - | €2k | €3k | €4k | €5k | ▲ 9.8% |
| Gross operating margin9900 | €26k | €40k | €50k | €88k | €110k | ▲ 24.9% |
| Operating profit (loss)9901 | €13k | €28k | €31k | €62k | €82k | ▲ 32.2% |
| Financial income75/76B | - | €1 | €6 | €3k | €2k | ▼ 28.6% |
| Recurring financial income75 | - | €1 | €6 | €3k | €2k | ▼ 28.6% |
| Financial charges65/66B | - | €2k | €2k | €2k | €2k | ▼ 8.1% |
| Recurring financial charges65 | €2k | €2k | €2k | €2k | €2k | ▼ 8.1% |
| Profit (loss) for the period before taxes9903 | €11k | €27k | €29k | €63k | €82k | ▲ 30.7% |
| Income taxes67/77 | €1k | €8k | €6k | €17k | €27k | ▲ 65.7% |
| Profit (loss) for the period9904 | €10k | €19k | €24k | €46k | €55k | ▲ 18.1% |
| Profit (loss) for the period to be appropriated9905 | €10k | €19k | €24k | €46k | €55k | ▲ 18.1% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €126k | €143k | €181k | €219k | €218k | ▼ 0.6% |
| Fixed assets21/28 | €31k | €26k | €46k | €41k | €33k | ▼ 18.9% |
| Tangible fixed assets22/27 | €31k | €26k | €46k | €37k | €30k | ▼ 20.9% |
| Land and buildings22 | - | - | - | - | €19k | - |
| Plant, machinery and equipment23 | - | €26k | €46k | €37k | €11k | ▼ 70.6% |
| Financial fixed assets28 | - | - | - | €4k | €4k | = |
| Current assets29/58 | €96k | €117k | €136k | €178k | €184k | ▲ 3.7% |
| Stocks and contracts in progress3 | €522 | €633 | €1k | €742 | €742 | = |
| Stocks30/36 | - | €633 | €1k | €742 | €742 | = |
| Amounts receivable within one year40/41 | €62k | €64k | €62k | €66k | €9k | ▼ 87.0% |
| Trade receivables40 | - | - | - | €483 | - | - |
| Other amounts receivable41 | - | €64k | €62k | €65k | €9k | ▼ 86.9% |
| Cash at bank and in hand54/58 | €30k | €53k | - | €111k | €175k | ▲ 57.1% |
| Deferred charges and accrued income490/1 | - | - | €72k | €200 | €232 | ▲ 15.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €126k | €143k | €181k | €219k | €218k | ▼ 0.6% |
| Equity10/15 | €114k | €133k | €156k | €138k | €192k | ▲ 39.6% |
| Contributions10/11 | €40k | €40k | €40k | €40k | €40k | = |
| Reserves13 | €4k | €4k | €4k | €4k | €152k | ▲ 3,703% |
| Non-distributable reserves130/1 | - | €4k | €4k | €4k | €4k | = |
| Reserves not available under the articles1311 | - | €4k | €4k | €4k | €4k | = |
| Distributable reserves133 | - | - | - | - | €148k | - |
| Profit (loss) carried forward14 | €70k | €89k | €112k | €94k | - | - |
| Amounts payable17/49 | €12k | €11k | €25k | €81k | €26k | ▼ 68.6% |
| Amounts payable within one year42/48 | €12k | €11k | €25k | €81k | €26k | ▼ 68.6% |
| Financial debts43 | - | €3k | €3k | €3k | €3k | ▼ 2.8% |
| Credit institutions430/8 | - | €3k | €3k | €3k | €3k | ▼ 2.8% |
| Trade debts44 | €3k | €4k | €22k | €6k | €4k | ▼ 28.6% |
| Suppliers440/4 | - | €4k | €22k | €6k | €4k | ▼ 28.6% |
| Taxes, remuneration and social security45 | - | €3k | - | €7k | €18k | ▲ 148% |
| Taxes450/3 | - | - | - | €7k | €18k | ▲ 148% |
| Remuneration and social security454/9 | - | €3k | - | - | - | - |
| Other amounts payable47/48 | - | - | - | €65k | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €10k | €19k | €24k | €46k | €55k | ▲ 18.1% |
| + Depreciation and write-downs630 | €5k | €6k | €6k | €8k | €8k | ▼ 4.6% |
| Operating cash flow (approximation) | €16k | €24k | €30k | €54k | €62k | ▲ 14.7% |
| Investment in fixed assets (approximation) | - | €-1k | €-26k | €-4k | €0 | ▲ 100% |
| Change in cash | - | €23k | - | - | €64k | - |
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
2026
21-08
State Gazette act
Resignations: ZHAO Xiaodong (manager) and Shi Xianlei (manager)Appointment: Shi Xianlei (non-statutory director) · Statutes amendment · Capital8 facts ▸
State Gazette act
Resignations: ZHAO Xiaodong (manager) and Shi Xianlei (manager)
Appointment: Shi Xianlei (non-statutory director) · Statutes amendment · Capital8 facts ▸
- General meeting, 10-08-2026
- Statutes amendment
- Capital, €40.000
- Reserve release, Opheffing van de statutair onbeschikbare eigen vermogensrekening
- Director resignation, ZHAO Xiaodong (manager)
- Director resignation, Shi Xianlei (manager)
- Director appointment, Shi Xianlei (non-statutory director)
- Mandate compensation, Shi Xianlei
2025
27-12
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 149 days late
2024
31-12
Financial
Highest result since 2018net €55k ▲18.1%
Operating result €82k, net result €55k, both a record.
31-12
Financial
Liquidity triplescurrent ratio 7.21
Current ratio from 2.18 to 7.21; short-term debt falls from €81k to €26k.
31-12
Financial
Equity above €150kEq €192k ▲39.6%
7 profitable years in a row build equity to €192k.
19-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 50 days late
2023
13-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Equity above €150kEq €156k ▲17.8%
5 profitable years in a row build equity to €156k.
19-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
12-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 12 days late
2020
04-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 4 days late
2019
31-12
Financial
Weakest financial yearnet €6k ▼52.7%
Net result drops to €6k, the lowest in the series; recovery starts the following year.
Show earlier events
31-12
Financial
Equity above €100kEq €103k ▲6.3%
2 profitable years in a row build equity to €103k.
04-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
12-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
11-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
26-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 4 acts read
About the unread acts
Of the 4 Belgian State Gazette acts we know for this company, 1 has been read. The other 3 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 director, last change in 2026
Shi Xianlei
CurrentNon-statutory director · since 10-08-2026
10-08-2026
Shi Xianlei: Resigned as Manager
10-08-2026
Shi Xianlei: Appointed as Non-statutory director
10-08-2026
ZHAO Xiaodong: Resigned as Manager
Not every act has been read: a resignation may be missing here
3 of this company's 4 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Tienen · 1 establishment unit since 2015
Ground area
486 m²
Building footprint
178 m²
Volume, LiDAR
755 m³
Parcel 24594B0240/00K003, Flanders · tallest building 5.6 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
'T RONDPUNT
since 20152.240.046.140
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24594B0240/00K003 | Flanders | 485 m² | 1 · 178 m² | 5.6 m · 1 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Articles of association
Purpose
Het uitbaten van een frituur; het verwerven, beheren en verkopen van onroerende goederen of zakelijke rechten daarop, in België of in het buitenland; het huren, verhuren, in…
Full purpose
Het uitbaten van een frituur; het verwerven, beheren en verkopen van onroerende goederen of zakelijke rechten daarop, in België of in het buitenland; het huren, verhuren, in erfpacht of gebruik nemen van onroerende en/of roerende goederen; het vormen en beheren van onroerend en/of roerend patrimonium bestaande uit lichamelijke of onlichamelijke onroerende en/of roerende goederen; het afsluiten van zakelijke rechten, het aangaan van erfpacht- en opstalovereenkomsten, onroerende leasing.
Structure & network
Capital and shareholders
Capital over the years
- 21-08-2026 Capital stated in the act · 40,000 EUR
Recognitions · licences · registrations
Food safety, FASFC
1 siteTienen2.240.046.140
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Of 21,853 companies in sector 56112 we hold annual accounts for 9,776. 6,782 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded13-01-2015
Fiscal year end31-12
Activities, NACEBEL 2025
56112Limited-service restaurants, excluding mobile food services
Scores and ratios are computed by Checked and are not a credit decision.