PANDERIM
ActiveSummary
The computed 12-month bankruptcy probability of PANDERIM is 2.2% (moderate). The 2025 annual accounts show negative equity (-€13,364) and a net result of -€24,650. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 20% of 18606 sector peers (fiscal year 2025). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability8▲+8
Solvency20▼-80
Growth32▼-46
Track record100
Bankruptcy probability, 12 months
2.2%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.85 against 4.56 in 2024; short-term debt: 104.8% and cash: 0.9% of total assets), and equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
+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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
-4.8%
Return on assets
-8.8%
Age of the figures
9 mo
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year -€13,364
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 29-07-2026, 2 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
2 d early
2024
60 d late
2023
26 d early
2022
29 d late
2021
30 d late
2020
31 d late
2019
91 d 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 30 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 46% 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 29 August (4 of the last 5 filed years within 31 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
-€13,364
2024 · €11,287
Total assets
€280,230▲ 1,838%
2024 · €14,459
Net result
-€24,650▼ 755%
2024 · -€2,883
Working capital
-€44,779
2024 · €11,287
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€13,498▲ 37.0%€4,852▼ 64.1%-€10,257-€10,202▲ 0.5%-€23,515▼ 130%
Net result€10,649within the sector's middle half▲ 25.4%€3,534within the sector's middle half▼ 66.8%-€10,799below the sector's middle half-€2,883within the sector's middle half▲ 73.3%-€24,650below the sector's middle half▼ 755%
Equity€21,435within the sector's middle half▲ 98.7%€24,969within the sector's middle half▲ 16.5%€14,170below the sector's middle half▼ 43.3%€11,287within the sector's middle half▼ 20.3%-€13,364below the sector's middle half
Total assets€74,363within the sector's middle half▲ 20.6%€54,472below the sector's middle half▼ 26.7%€32,848below the sector's middle half▼ 39.7%€14,459below the sector's middle half▼ 56.0%€280,230within the sector's middle half▲ 1,838%
Debt€52,928▲ 4.1%€29,503▼ 44.3%€18,679▼ 36.7%€3,173▼ 83.0%€293,594▲ 9,154%
Working capital€22,325within the sector's middle half▲ 107%€24,969within the sector's middle half▲ 11.8%€19,320within the sector's middle half▼ 22.6%€11,287within the sector's middle half▼ 41.6%-€44,779below the sector's middle half
Solvency28.8%within the sector's middle half▲ 11.3pp45.8%within the sector's middle half▲ 17.0pp43.1%within the sector's middle half▼ 2.7pp78.1%above the sector's middle half▲ 34.9pp-4.8%below the sector's middle half▼ 82.8pp
Current ratio1.43within the sector's middle half▲ 0.221.85within the sector's middle half▲ 0.422.43within the sector's middle half▲ 0.584.56above the sector's middle half▲ 2.130.85below the sector's middle half▼ 3.71
Return on assets (ROA)14.3%above the sector's middle half▲ 0.5pp6.5%within the sector's middle half▼ 7.8pp-32.9%below the sector's middle half▼ 39.4pp-19.9%below the sector's middle half▲ 12.9pp-8.8%below the sector's middle half▲ 11.1pp
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €23,515 in 2025 against €10,202 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
Assets €280,230
Fixed assets
€31,415
Current assets
€248,815
Key figures and ratios
EBITDA
-€20,687
Cash flow
-€21,822
Quick ratio
0.20▼
2024 · 4.56
Debt to equity
-21.97▼
2024 · 0.28
Interest coverage
-18.17
Debt ≤ 1 year
€293,594▲
2024 · €3,173
Staff costs
€31,544
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,570 companies that looked in July 2024 the way this one looks now, 4.6% went bankrupt within 24 months and 88% are still going.
- Micro
- 5 to 10 years old
- negative equity
- a small loss
4.6%
went bankrupt
5.5%
stopped otherwise
88%
still going
A further 1.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 2.2% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 1,570 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | - | €31,544 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | - | €2,828 | - |
| Other operating charges640/8 | €617 | €464 | €3,337 | €585 | €0 | ▼ 100% |
| Gross operating margin9900 | €14,115 | €5,316 | -€6,921 | -€9,618 | €10,857 | ▲ 213% |
| Operating profit (loss)9901 | €13,498 | €4,852 | -€10,257 | -€10,202 | -€23,515 | ▼ 130% |
| Financial income75/76B | - | - | - | €7,652 | €4 | ▼ 100.0% |
| Recurring financial income75 | - | - | - | €7,652 | €4 | ▼ 100.0% |
| Non-recurring financial income76B | - | - | - | €7,652 | €0 | ▼ 100% |
| Financial charges65/66B | €188 | €261 | €542 | €333 | €1,139 | ▲ 242% |
| Recurring financial charges65 | €188 | €261 | €542 | €333 | €1,139 | ▲ 242% |
| Profit (loss) for the period before taxes9903 | €13,310 | €4,591 | -€10,799 | -€2,883 | -€24,650 | ▼ 755% |
| Income taxes67/77 | €2,661 | €1,057 | - | - | - | - |
| Profit (loss) for the period9904 | €10,649 | €3,534 | -€10,799 | -€2,883 | -€24,650 | ▼ 755% |
| Profit (loss) for the period to be appropriated9905 | €10,649 | €3,534 | -€10,799 | -€2,883 | -€24,650 | ▼ 755% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €74,363 | €54,472 | €32,848 | €14,459 | €280,230 | ▲ 1,838% |
| Fixed assets21/28 | - | - | - | - | €31,415 | - |
| Tangible fixed assets22/27 | - | - | - | - | €16,415 | - |
| Other tangible fixed assets26 | - | - | - | - | €16,415 | - |
| Financial fixed assets28 | - | - | - | - | €15,000 | - |
| Current assets29/58 | €74,363 | €54,472 | €32,848 | €14,459 | €248,815 | ▲ 1,621% |
| Stocks and contracts in progress3 | - | - | - | - | €189,179 | - |
| Stocks30/36 | - | - | - | - | €189,179 | - |
| Amounts receivable within one year40/41 | €36,446 | €51,825 | €32,830 | €14,350 | €57,193 | ▲ 299% |
| Trade receivables40 | €36,318 | €33,777 | €20,328 | €0 | - | - |
| Other amounts receivable41 | €128 | €18,048 | €12,502 | €14,350 | €57,193 | ▲ 299% |
| Cash at bank and in hand54/58 | €37,917 | €2,647 | €19 | €109 | €2,443 | ▲ 2,134% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €74,363 | €54,472 | €32,848 | €14,459 | €280,230 | ▲ 1,838% |
| Equity10/15 | €21,435 | €24,969 | €14,170 | €11,287 | -€13,364 | ▼ 218% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | - | - | €7,970 | €5,087 | €0 | ▼ 100% |
| Distributable reserves133 | - | - | €7,970 | €5,087 | €0 | ▼ 100% |
| Profit (loss) carried forward14 | €15,235 | €18,769 | - | - | -€19,564 | - |
| Amounts payable17/49 | €52,928 | €29,503 | €18,679 | €3,173 | €293,594 | ▲ 9,154% |
| Amounts payable after more than one year17 | - | - | €5,150 | €0 | - | - |
| Financial debts170/4 | - | - | €5,150 | €0 | - | - |
| Amounts payable within one year42/48 | €52,038 | €29,503 | €13,529 | €3,173 | €293,594 | ▲ 9,154% |
| Trade debts44 | €46,395 | €24,409 | €11,817 | €1,461 | €102,566 | ▲ 6,920% |
| Suppliers440/4 | €46,395 | €24,409 | €11,817 | €1,461 | €102,566 | ▲ 6,920% |
| Taxes, remuneration and social security45 | €4,518 | €3,970 | €1,057 | €1,057 | €7,487 | ▲ 608% |
| Taxes450/3 | €4,518 | €3,970 | €1,057 | €1,057 | €0 | ▼ 100% |
| Remuneration and social security454/9 | - | - | - | - | €7,487 | - |
| Other amounts payable47/48 | €1,124 | €1,124 | €654 | €654 | €183,541 | ▲ 27,956% |
| Accrued charges and deferred income492/3 | €890 | €0 | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €10,649 | €3,534 | -€10,799 | -€2,883 | -€24,650 | ▼ 755% |
| + Depreciation and write-downs630 | - | - | - | - | €2,828 | - |
| Operating cash flow (approximation) | €10,649 | €3,534 | -€10,799 | -€2,883 | -€21,822 | ▼ 657% |
| Change in cash | - | -€35,270 | -€2,628 | €91 | €2,333 | ▲ 2,470% |
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
29-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet -€24,650
Net result drops to -€24,650, the lowest in the series.
29-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 60 days late
2024
05-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 29 days late
2022
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
2021
31-12
Financial
Highest result since 2019net €10,649 ▲25.4%
Operating result €13,498, net result €10,649, both a record.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
31-12
Financial
Back to profitnet €8,490
Net result €8,490 after one loss-making year.
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 91 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
5 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, Antwerpen · 1 establishment unit since 2019
Ground area
551 m²
Building footprint
272 m²
Volume, LiDAR
3,672 m³
2 parcels, Flanders · tallest building 20.6 m, ±6 floors. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
PANDERIM
since 20192.285.287.138
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11810K1893/00H000 | Flanders | 488 m² | 1 · 209 m² | 20.0 m · 5 fl. |
| 11804D1125/00E000 | Flanders | 63 m² | 1 · 63 m² | 20.6 m · 6 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.
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Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded31-01-2019
Fiscal year end31-12
Activities, NACEBEL 2025
47721Retail sale of footwear
E-invoicing
Reachable via Peppol
Peppol ID
0208:0719625380
Also
9925:BE0719625380
Registered
01-04-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.