Panel Engineering
Annual accounts 2025
micro format, filed on 06-07-2026, 25 days before the deadline€81,809
▲ 4.3%
€81,100
▲ 5.3%
€60,528
▲ 1.4%
€254,419
▲ 5.6%
76.5%
▼ 3.2 percentage points
4.43
▼ 0.49
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €170,000. Estimated: probably between €130,000 and €240,000.
Balance sheet
balance sheet total €328,610 on 31-12-2025What the company ownsHow it is paid for
in euro
in euro
Position in the sector
76.5%
Higher than 75% of 11,794 companies in 2025.
4.43
Higher than 77% of 11,521 companies in 2025.
18.4%
Higher than 63% of 11,605 companies in 2025.
Panel Engineering
Middle half of the sector
80% of the sector
Micro accounts in architecture and engineering (NACE 71)
Net result: top quarter · Equity: top quarter · Balance sheet total: top quarter · Working capital: top quarter
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||
20/58 |
328,610 | 302,382 | 274,611 | 273,289 | 313,080 | 265,361 | 211,433 | 181,654 | 198,601 | 139,570 | |
21/28 |
0 | 125 | 1,061 | 1,996 | 8,728 | 17,049 | 20,560 | 25,625 | 5,359 | 7,804 | |
22/27 |
0 | 125 | 1,061 | 1,996 | 8,728 | 17,049 | 20,560 | 25,625 | 5,359 | 7,804 | |
22 |
0 | 125 | 1,061 | 1,996 | 2,931 | 3,866 | - | - | - | - | |
23 |
- | - | - | - | 15 | 786 | 1,550 | - | 2,031 | 7,804 | |
24 |
- | - | - | - | 5,782 | 12,396 | 19,011 | 25,625 | 3,328 | - | |
29/58 |
328,610 | 302,257 | 273,551 | 271,293 | 304,352 | 248,312 | 190,873 | 156,029 | 193,242 | 131,767 | |
40/41 |
28,940 | 12,092 | 27,112 | 13,030 | 29,137 | 34,068 | 33,366 | 24,167 | 25,369 | 18,738 | |
40 |
28,940 | 12,092 | 27,112 | 13,030 | 29,137 | 34,068 | 33,366 | 24,167 | 25,369 | 18,738 | |
50/53 |
112,392 | 201,826 | 211,509 | 59,326 | 53,298 | 47,211 | 81,182 | 64,632 | - | - | |
54/58 |
179,561 | 86,295 | 33,116 | 196,412 | 220,455 | 165,518 | 74,824 | 65,744 | 167,777 | 112,932 | |
490/1 |
7,717 | 2,044 | 1,814 | 2,525 | 1,463 | 1,516 | 1,502 | 1,487 | 96 | 96 | |
| Balance sheet: equity and liabilities | |||||||||||
10/49 |
328,610 | 302,382 | 274,611 | 273,289 | 313,080 | 265,361 | 211,433 | 181,654 | 198,601 | 139,570 | |
10/15 |
251,246 | 240,976 | 226,617 | 222,450 | 219,842 | 256,497 | 206,240 | 160,925 | 123,345 | 84,405 | |
10/11 |
6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | - | - | 12,400 | 12,400 | 12,400 | 12,400 | |
13 |
245,046 | 234,776 | 220,417 | 216,250 | 213,642 | 250,297 | 200,040 | 154,725 | 117,145 | 78,205 | |
130/1 |
- | - | - | - | - | 3,910 | - | - | - | - | |
130 |
- | - | - | - | - | - | 3,910 | 3,910 | 3,910 | 3,910 | |
1311 |
- | - | - | - | - | 3,910 | - | - | - | - | |
133 |
245,046 | 234,776 | 220,417 | 216,250 | 213,642 | 246,387 | 196,130 | 150,815 | 113,234 | 74,294 | |
14 |
0 | 0 | 0 | - | - | - | - | - | - | - | |
17/49 |
77,364 | 61,406 | 47,994 | 50,839 | 93,238 | 8,864 | 5,193 | 20,728 | 75,256 | 55,166 | |
42/48 |
74,191 | 61,406 | 47,664 | 50,743 | 91,588 | 8,534 | 4,796 | 19,980 | 73,170 | 53,051 | |
44 |
1,315 | 2,040 | 1,130 | - | 398 | 78 | 612 | 664 | 463 | 407 | |
440/4 |
1,315 | 2,040 | 1,130 | - | 398 | 78 | 612 | 664 | 463 | 407 | |
45 |
21,524 | 13,316 | 8,279 | 11,191 | 12,206 | 7,734 | 4,154 | 19,286 | 72,707 | 52,644 | |
450/3 |
21,524 | 13,316 | 8,279 | 11,191 | 12,206 | 7,734 | 4,154 | 19,286 | 72,707 | 52,644 | |
47/48 |
51,352 | 46,050 | 38,255 | 39,553 | 78,984 | 722 | 30 | 30 | - | - | |
492/3 |
3,173 | 0 | 330 | 96 | 1,650 | 330 | 397 | 748 | 2,086 | 2,115 | |
| Income statement | |||||||||||
9900 |
81,809 | 78,439 | 59,517 | 65,496 | 66,958 | 75,093 | 66,997 | 68,939 | 68,032 | 137,360 | |
630 |
125 | 935 | 935 | 6,733 | 8,320 | 8,187 | 7,377 | 8,645 | 6,605 | 9,621 | |
640/8 |
583 | 505 | 609 | 515 | 449 | 554 | 651 | 542 | 573 | 1,138 | |
9901 |
81,100 | 76,998 | 57,973 | 58,249 | 58,189 | 66,352 | 58,969 | 59,752 | 60,855 | 126,601 | |
75/76B |
2,744 | 5,782 | 183 | 28 | 87 | 4,380 | 1,063 | 73 | - | 21 | |
75 |
2,744 | 5,782 | 183 | 28 | 87 | 4,380 | 1,063 | 73 | - | 21 | |
65/66B |
192 | 234 | 180 | 180 | 168 | 761 | -3,359 | 5,959 | 27 | 6 | |
65 |
192 | 234 | 180 | 180 | 168 | 761 | -3,359 | 5,959 | 27 | 6 | |
9903 |
83,652 | 82,547 | 57,975 | 58,096 | 58,108 | 69,971 | 63,391 | 53,865 | 60,828 | 126,616 | |
67/77 |
23,125 | 22,874 | 16,227 | 16,549 | 16,558 | 19,714 | 18,076 | 16,285 | 21,888 | 48,411 | |
9904 |
60,528 | 59,673 | 41,748 | 41,548 | 41,550 | 50,257 | 45,315 | 37,581 | 38,940 | 78,205 | |
9905 |
60,528 | 59,673 | 41,748 | 41,548 | 41,550 | 50,257 | 45,315 | 37,581 | 38,940 | 78,205 | |
| Appropriation of the result | |||||||||||
9906 |
60,528 | 59,673 | 41,748 | 41,548 | 41,550 | 50,257 | 45,315 | 37,581 | 38,940 | 78,205 | |
791/2 |
50,257 | 45,315 | 37,581 | 38,940 | 78,205 | - | - | - | - | - | |
691/2 |
60,528 | 59,673 | 41,748 | 41,548 | 41,550 | 50,257 | 45,315 | 37,581 | 38,940 | 78,205 | |
6920 |
- | - | - | - | - | - | - | - | - | 3,910 | |
6921 |
60,528 | 59,673 | 41,748 | 41,548 | 41,550 | 50,257 | 45,315 | 37,581 | 38,940 | 74,294 | |
694/7 |
50,257 | 45,315 | 37,581 | 38,940 | 78,205 | - | - | - | - | - | |
694 |
50,257 | 45,315 | 37,581 | 38,940 | 78,205 | - | - | - | - | - | |
| Document | |||||||||||
The notes to these accounts have 4 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 06-07-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 06-07-2026 | 2026-00259912 | |
| 31-12-2024 | micro format | 28-07-2025 | 2025-00316200 | |
| 31-12-2023 | micro format | 01-07-2024 | 2024-00212289 | |
| 31-12-2022 | micro format | 03-07-2023 | 2023-00203067 | |
| 31-12-2021 | micro format | 30-06-2022 | 2022-20117388 | |
| 31-12-2020 | micro format | 19-07-2021 | 2021-38000012 | |
| 31-12-2019 | micro format | 30-10-2020 | 2020-66300417 | |
| 31-12-2018 | micro format | 23-07-2019 | 2019-36400600 | |
| 31-12-2017 | abbreviated format | 28-08-2018 | 2018-50600323 | |
| 31-12-2016 | abbreviated format | 20-07-2017 | 2017-33000415 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 81,226 | 77,934 | 58,908 | 64,982 | 66,510 | 74,540 | 66,347 | 68,398 | 67,460 | 136,222 | ||
| 60,653 | 60,608 | 42,683 | 48,281 | 49,870 | 58,444 | 52,692 | 46,226 | 45,545 | 87,826 | ||
| 0 | 0 | 0 | 0 | 0 | 4,676 | 2,313 | 28,911 | 4,160 | 17,425 | ||
| 93,266 | 53,179 | -163,296 | -24,043 | 54,937 | 90,694 | 9,080 | -102,033 | 54,844 | - | ||
| 254,419 | 240,850 | 225,887 | 220,550 | 212,764 | 239,778 | 186,077 | 136,049 | 120,071 | 78,716 | ||
| 76.5% | 79.7% | 82.5% | 81.4% | 70.2% | 96.7% | 97.5% | 88.6% | 62.1% | 60.5% | ||
| 4.43 | 4.92 | 5.74 | 5.35 | 3.32 | 29.10 | 39.80 | 7.81 | 2.64 | 2.48 | ||
| 0.31 | 0.25 | 0.21 | 0.23 | 0.42 | 0.03 | 0.03 | 0.13 | 0.61 | 0.65 | ||
| 24.1% | 24.8% | 18.4% | 18.7% | 18.9% | 19.6% | 22.0% | 23.4% | 31.6% | 92.7% | ||
| 18.4% | 19.7% | 15.2% | 15.2% | 13.3% | 18.9% | 21.4% | 20.7% | 19.6% | 56.0% | ||
| over 100 | over 100 | over 100 | over 100 | over 100 | - | - | - | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Insights on Panel Engineering
The operating result for 2025 is 5% higher than in 2024 and the highest since 2016. It is the second rise in a row, after the fall in 2023.
Debt's share of the balance-sheet total rises from 20.3% to 23.5%. Equity and debt are higher.