PANE & PICASSO
ActivePANE & PICASSO has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €45k and a net result of €52k. Equity is growing by ~26% per year across the filed fiscal years. Its solvency ranks better than 43% of 2090 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2024
59
/ 100
Fair
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. A confirmed filing finding caps the score. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability100=
Solvency50▲+31
Growth78=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2.5k at 30 days only on tighter terms
Liquidity ample (current ratio 1.61 against 1.11 in 2023; short-term debt: 42.7% and cash: 21% of total assets), but 75.4% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 10
Relative position
BE, all sectors
reference
Sector 10
higher
← 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 · 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 2024Solvency, return and age of the figures
Solvency
24.6%
Return on assets
28.5%
Age of the figures
21 mo
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 30-12-2025, 152 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
152 d late
2023
153 d late
2022
153 d late
2021
120 d late
2020
37 d late
2019
46 d late
← before the deadline
after the deadline →
Financials · fiscal year 2024, micro schema
Equity
€45k
2023 · €-7k
2018: €-179k
2019: €-168k
2020: €-164k
2021: €-132k
2022: €-108k
2023: €-7k
2018 → 2024
Total assets
€184k▲ 44.2%
2023 · €127k
2018: €203k
2019: €155k
2020: €109k
2021: €93k
2022: €90k
2023: €127k
2018 → 2024
Net result
€52k▼ 48.3%
2023 · €101k
2018: €1k
2019: €12k
2020: €3k
2021: €32k
2022: €24k
2023: €101k
2018 → 2024
Working capital
€48k▲ 433%
2023 · €9k
2018: €-235k
2019: €-196k
2020: €-152k
2021: €-78k
2022: €-58k
2023: €9k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€-164k-€-132k▲ 19.5%€-108k▲ 18.0%€-7k▲ 93.4%€45k
Operating result€7k-€36k▲ 391%€27k▼ 24.7%€112k▲ 307%€77k▼ 31.4%
Net result€3k-€32k▲ 899%€24k▼ 25.8%€101k▲ 326%€52k▼ 48.3%
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 2024; 2024 is 31% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €184k
Fixed assets
€57k▲ 50.1%
Current assets
€127k▲ 41.8%
Equity and liabilities €184k
Equity
€45k
Debt
€139k
Debt finances 75.4% of the balance-sheet total.
Key figures and ratios
EBITDA
€94k▼
2023 · €126k
Cash flow
€70k▼
2023 · €116k
Solvency
24.6%▲
2023 · -5.6%
Current ratio
1.61▲
2023 · 1.11
Quick ratio
1.39▲
2023 · 0.82
Debt / equity
3.07▲
2023 · -18.74
ROE
115.9%
ROA
28.5%▼
2023 · 79.5%
Interest coverage
42.23▲
2023 · 37.03
Debt
€139k▲
2023 · €135k
Debt ≤ 1 year
€79k▼
2023 · €80k
Debt > 1 year
€60k▲
2023 · €54k
Income taxes
€23k▲
2023 · €7k
Staff costs
€76k▼
2023 · €82k
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 · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€127k€184k▲
Fixed assets21/28€38k€57k▲
Tangible fixed assets22/27€37k€57k▲
Land and buildings22€12k€11k▼
Plant, machinery and equipment23€3k€34k▲
Furniture and vehicles24€14k€7k▼
Leasing and similar rights25€149-
Other tangible fixed assets26€8k€5k▼
Financial fixed assets28€650€650=
Current assets29/58€89k€127k▲
Stocks and contracts in progress3€23k€18k▼
Stocks30/36€23k€18k▼
Amounts receivable within one year40/41€36k€70k▲
Trade receivables40€32k€3k▼
Other amounts receivable41€4k€68k▲
Cash at bank and in hand54/58€25k€39k▲
Deferred charges and accrued income490/1€5k-
Equity and liabilities
Total equity and liabilities10/49€127k€184k▲
Equity10/15€-7k€45k▲
Contributions10/11€19k€19k=
Reserves13-€27k
Distributable reserves133-€27k
Profit (loss) carried forward14€-26k-
Amounts payable17/49€135k€139k▲
Amounts payable after more than one year17€54k€60k▲
Financial debts170/4€54k€60k▲
Amounts payable within one year42/48€80k€79k▼
Current portion of amounts payable after more than one year42€25k€32k▲
Trade debts44€33k€13k▼
Suppliers440/4€33k€13k▼
Taxes, remuneration and social security45€12k€33k▲
Taxes450/3€9k€29k▲
Remuneration and social security454/9€4k€4k▼
Other amounts payable47/48€11k€849▼
Income statement
Code20232024
Remuneration, social security and pensions62€82k€76k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€15k€18k▲
Other operating charges640/8€2k€1k▼
Non-recurring operating charges66A€973-
Gross operating margin9900€210k€172k▼
Operating profit (loss)9901€112k€77k▼
Financial income75/76B€19€609▲
Recurring financial income75€19€609▲
Financial charges65/66B€3k€2k▼
Recurring financial charges65€3k€2k▼
Profit (loss) for the period before taxes9903€108k€75k▼
Income taxes67/77€7k€23k▲
Profit (loss) for the period9904€101k€52k▼
Profit (loss) for the period to be appropriated9905€101k€52k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-26k€27k▲
Profit (loss) brought forward from the previous period14P€-127k€-26k▲
Transfer to equity691/2-€27k
To other reserves6921-€27k
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
30-12
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 152 days late
2024
31-12
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 153 days late
2023
31-12
Financial
Highest result since 2018net €101k ▲326%
Operating result €112k, net result €101k, both a record.
31-12
Financial
Liquidity doublescurrent ratio 1.11
Current ratio from 0.53 to 1.11; short-term debt falls from €121k to €80k.
31-12
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 153 days late
2022
28-11
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 120 days late
2021
06-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 37 days late
2020
15-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 46 days late
2019
09-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
27-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
20-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
25-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 25 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 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, Wijnegem · 1 establishment unit since 2011
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.
Turnhoutsebaan 3112110 WijnegemGround area
291 m²
Building footprint
281 m²
Volume, LiDAR
1,910 m³
Parcel 11050B0122/00C002, Flanders · tallest building 12.5 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
PANE & PICASSO
since 20112.198.062.362
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11050B0122/00C002 | Flanders | 291 m² | 1 · 281 m² | 12.4 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel 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
2024 · 1 entry · 2,000 EUR awarded · 2,000 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 2,000 EUR | 2,000 EUR |
Schemes
Hinderpremie bij openbare werken
Recognitions · licences · registrations
Food safety, FASFC
1 siteWijnegem2.198.062.362
Similar companies · same sector, comparable size
Simply Bread CO. Europe
BE 1004.654.239
Liège · Eq €45k
BIKIM
BE 0836.431.889
Visé · Eq €45k
INMA
BE 0890.833.845
Sint-Jans-Molenbeek · Eq €45k
LES CUP'INN
BE 0556.841.069
Namur · Eq €45k
DELI LIER
BE 0443.316.823
Lier · Eq €46k
Of 4,227 companies in sector 10712 we hold annual accounts for 1,871. 1,513 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded17-02-2011
Fiscal year end31-12
Activities, NACEBEL
10712Artisanal bread and fresh pastry making
Sources
Crossroads Bank for EnterprisesNational Bank · 13 filingsAddress and cadastre registers
Data from official sources, last processed on 20-09-2026. Scores and ratios are computed by Checked and are not a credit decision.