PANDA MANAGEMENT
ActiveSummary
The annual accounts of PANDA MANAGEMENT for fiscal year 2025 show a net loss of 68% of the equity at the start of that year. The 2025 annual accounts show equity of €13,311 and a net result of -€29,705. Equity remains stable across the filed fiscal years (±1.5% per year). Its solvency ranks better than 22% of 32023 sector peers (fiscal year 2025). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability2▼-34
Solvency43▼-27
Growth52=
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days 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 ample (current ratio 3.2 against 5.72 in 2024; short-term debt: 30.3% and cash: 25.5% of total assets), but 81.7% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
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
18.3%
Return on assets
-40.9%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 22% of 32023 sector peers (2025).
NBB · sector comparisonPosition among 32023 sector peers
Solvency
better than 22%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 18-08-2026, 18 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 · 6 filingsDeviation from the deadline
2025
18 d late
2024
19 d late
2023
30 d early
2022
3 d early
2021
1 d late
2020
85 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 13 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (2)
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. Usually files around 1 August (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€13,311▼ 69.6%
2024 · €43,849
Total assets
€72,699▼ 24.8%
2024 · €96,613
Net result
-€29,705
2024 · €5,375
Working capital
€48,528▼ 38.5%
2024 · €78,888
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€43,778▲ 45.7%€48,469▲ 10.7%€16,055▼ 66.9%€52,992▲ 230%€8,304▼ 84.3%
Net result€33,413within the sector's middle half▲ 42.7%€23,759within the sector's middle half▼ 28.9%-€26,507below the sector's middle half€5,375within the sector's middle half-€29,705below the sector's middle half
Equity€42,022within the sector's middle half▲ 347%€64,981within the sector's middle half▲ 54.6%€38,474within the sector's middle half▼ 40.8%€43,849within the sector's middle half▲ 14.0%€13,311below the sector's middle half▼ 69.6%
Total assets€56,292below the sector's middle half▲ 34.2%€69,772below the sector's middle half▲ 23.9%€84,752within the sector's middle half▲ 21.5%€96,613within the sector's middle half▲ 14.0%€72,699below the sector's middle half▼ 24.8%
Debt€14,270▼ 56.2%€4,791▼ 66.4%€11,278▲ 135%€16,724▲ 48.3%€22,052▲ 31.9%
Working capital€41,454within the sector's middle half▲ 341%€64,693within the sector's middle half▲ 56.1%€73,465within the sector's middle half▲ 13.6%€78,888within the sector's middle half▲ 7.4%€48,528within the sector's middle half▼ 38.5%
Solvency74.6%within the sector's middle half▲ 52.2pp93.1%above the sector's middle half▲ 18.5pp45.4%within the sector's middle half▼ 47.7pp45.4%within the sector's middle half=18.3%below the sector's middle half▼ 27.1pp
Current ratio3.90within the sector's middle half▲ 2.6214.50above the sector's middle half▲ 10.607.51above the sector's middle half▼ 6.995.72above the sector's middle half▼ 1.803.20within the sector's middle half▼ 2.52
Return on assets (ROA)59.4%above the sector's middle half▲ 3.6pp34.1%above the sector's middle half▼ 25.3pp-31.3%below the sector's middle half▼ 65.3pp5.6%within the sector's middle half▲ 36.8pp-40.9%below the sector's middle half▼ 46.4pp
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
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 84% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €72,699
Fixed assets
€2,119 ▲ 111%
Current assets
€70,580 ▼ 26.2%
Equity and liabilities €72,699
Equity
€13,311 ▼ 69.6%
Provisions
€37,336 ▲ 3.6%
Debt
€22,052 ▲ 31.9%
Debt's share of the balance-sheet total rises from 17.3% to 30.3%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€9,020▼
2024 · €53,016
Cash flow
-€28,990▼
2024 · €5,399
Debt to equity
1.66▲
2024 · 0.38
ROE
-223.2%▼
2024 · 12.3%
Interest coverage
0.24▼
2024 · 1.19
Debt ≤ 1 year
€22,052▲
2024 · €16,724
Income taxes
€200▼
2024 · €3,049
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,133 companies that looked in July 2024 the way this one looks now, 6.4% went bankrupt within 24 months and 86% are still going.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a loss of 10% of the balance sheet or more
6.4%
went bankrupt
6.6%
stopped otherwise
86%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.5% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 1,133 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.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €270 | €279 | €279 | €24 | €716 | ▲ 2,858% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | €35,000 | €1,041 | €1,295 | ▲ 24.4% |
| Other operating charges640/8 | €397 | €471 | €384 | €387 | €400 | ▲ 3.2% |
| Gross operating margin9900 | €44,445 | €49,220 | €51,719 | €54,444 | €10,715 | ▼ 80.3% |
| Operating profit (loss)9901 | €43,778 | €48,469 | €16,055 | €52,992 | €8,304 | ▼ 84.3% |
| Financial charges65/66B | €145 | €18,392 | €38,907 | €44,568 | €37,809 | ▼ 15.2% |
| Recurring financial charges65 | €145 | €18,392 | €38,907 | €44,568 | €37,809 | ▼ 15.2% |
| Profit (loss) for the period before taxes9903 | €43,632 | €30,078 | -€22,852 | €8,424 | -€29,505 | ▼ 450% |
| Income taxes67/77 | €10,219 | €6,319 | €3,655 | €3,049 | €200 | ▼ 93.4% |
| Profit (loss) for the period9904 | €33,413 | €23,759 | -€26,507 | €5,375 | -€29,705 | ▼ 653% |
| Profit (loss) for the period to be appropriated9905 | €33,413 | €23,759 | -€26,507 | €5,375 | -€29,705 | ▼ 653% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €56,292 | €69,772 | €84,752 | €96,613 | €72,699 | ▼ 24.8% |
| Fixed assets21/28 | €568 | €289 | €9 | €1,002 | €2,119 | ▲ 111% |
| Tangible fixed assets22/27 | €568 | €289 | €9 | €1,002 | €2,119 | ▲ 111% |
| Furniture and vehicles24 | €568 | €289 | €9 | €1,002 | €2,119 | ▲ 111% |
| Current assets29/58 | €55,725 | €69,484 | €84,742 | €95,611 | €70,580 | ▼ 26.2% |
| Amounts receivable within one year40/41 | €32,088 | €54,846 | €72,796 | €36,885 | €52,041 | ▲ 41.1% |
| Trade receivables40 | €32,088 | €36,691 | €66,632 | €36,885 | €6,741 | ▼ 81.7% |
| Other amounts receivable41 | - | €18,155 | €6,164 | - | €45,300 | - |
| Cash at bank and in hand54/58 | €23,637 | €14,638 | €10,020 | €58,726 | €18,539 | ▼ 68.4% |
| Deferred charges and accrued income490/1 | - | - | €1,926 | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €56,292 | €69,772 | €84,752 | €96,613 | €72,699 | ▼ 24.8% |
| Equity10/15 | €42,022 | €64,981 | €38,474 | €43,849 | €13,311 | ▼ 69.6% |
| Contributions10/11 | €6,000 | €6,000 | €6,000 | €6,000 | €6,000 | = |
| Profit (loss) carried forward14 | €36,022 | €58,981 | €32,474 | €37,849 | €7,311 | ▼ 80.7% |
| Provisions and deferred taxes16 | - | - | €35,000 | €36,041 | €37,336 | ▲ 3.6% |
| Provisions for liabilities and charges160/5 | - | - | €35,000 | €36,041 | €37,336 | ▲ 3.6% |
| Other liabilities and charges164/5 | - | - | €35,000 | €36,041 | €37,336 | ▲ 3.6% |
| Amounts payable17/49 | €14,270 | €4,791 | €11,278 | €16,724 | €22,052 | ▲ 31.9% |
| Amounts payable within one year42/48 | €14,270 | €4,791 | €11,278 | €16,724 | €22,052 | ▲ 31.9% |
| Current portion of amounts payable after more than one year42 | - | - | €5,129 | - | - | - |
| Trade debts44 | €359 | €630 | €2,472 | €1,139 | €304 | ▼ 73.3% |
| Suppliers440/4 | €359 | €630 | €2,472 | €1,139 | €304 | ▼ 73.3% |
| Taxes, remuneration and social security45 | €13,790 | €3,521 | €3,676 | €4,328 | €4,477 | ▲ 3.4% |
| Taxes450/3 | €13,790 | €1,390 | €1,546 | €2,197 | €2,347 | ▲ 6.8% |
| Remuneration and social security454/9 | - | €2,131 | €2,131 | €2,131 | €2,131 | = |
| Other amounts payable47/48 | €121 | €640 | - | €11,257 | €17,271 | ▲ 53.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €33,413 | €23,759 | -€26,507 | €5,375 | -€29,705 | ▼ 653% |
| + Depreciation and write-downs630 | €270 | €279 | €279 | €24 | €716 | ▲ 2,858% |
| Operating cash flow (approximation) | €33,683 | €24,038 | -€26,228 | €5,399 | -€28,990 | ▼ 637% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€1,017 | -€1,833 | ▼ 80.2% |
| Change in cash | - | -€8,999 | -€4,618 | €48,707 | -€40,188 | ▼ 183% |
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
Next filing, fiscal year 2026, expected by
2026
26-08
State Gazette act
Registered officeRegistered-office move2 facts ▸
State Gazette act
Registered office
Registered-office move2 facts ▸
- General meeting, 20-07-2026
- Registered-office move, Rue du Vieux Chemin 59B, 1495 Villers-la-Ville
18-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 18 days late
2025
31-12
Financial
Weakest financial yearnet -€29,705
Net result drops to -€29,705, the lowest in the series.
19-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 19 days late
2024
31-12
Financial
Back to profitnet €5,375
Net result €5,375 after one loss-making year.
01-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
28-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Liquidity quadruplescurrent ratio 14.50
Current ratio from 3.90 to 14.50; short-term debt falls from €14,270 to €4,791.
01-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 1 day late
2021
31-12
Financial
Highest result since 2020net €33,413 ▲42.7%
Net result €33,413, the highest in the series.
31-12
Financial
Liquidity triplescurrent ratio 3.90
Current ratio from 1.29 to 3.90; short-term debt falls from €32,546 to €14,270.
07-05
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 2 acts read
About the unread acts
Of the 2 Belgian State Gazette acts we know for this company, 1 has been read. The other one has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
No directors read yet: 1 of 2 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Villers-la-Ville · 1 establishment unit since 2020
Ground area
2,241 m²
Building footprint
91 m²
Volume, LiDAR
643 m³
2 parcels, Wallonia · tallest building 10.7 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
PANDA MANAGEMENT
since 20202.297.758.269
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25098B0332/00B000 | Wallonia | 1,586 m² | 1 · 36 m² | 3.9 m · 1 fl. |
| 25016A0155/00A006 | Wallonia | 655 m² | 1 · 55 m² | 10.7 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Legal Entity Identifier
984500DE56454P0M5073
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Of 82,601 companies in this sector we hold annual accounts for 52,629. 26,166 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
Identification
Legal formPrivate limited company
Founded26-12-2019
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
81300Landscape service activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0740486518
Also
9925:BE0740486518
Registered
24-11-2023
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.