Panel Engineering

Active Private limited company (pre-2019)founded 2015active for 11 yearsPellaarstraat 10A, 2275 LilleKBO/BCE: BE 0629.682.923

Panel Engineering

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Overview

Lifetime

10 annual accounts with figures on one time axis

Compare with

peak €137,360 (2016)

€81,809▲ 4.3%

peak €78,205 (2016)

€60,528▲ 1.4%

peak €256,497 (2020)

€251,246▲ 4.3%

€77,364▲ 26.0%

Board1 name since 2021

1 directorVan Deun Koen

Documentsfilings and deeds

06-07-202625 days before the deadline

2025micro format

Dividend €50,257Debts from €61,406 to €77,364Cash from €86,295 to €179,561

Key points

from the 2025 annual accounts

Equity

€251,246 ▲ 4.3%

Panel Engineering paid out €50,257 in dividends. That is 83% of the 2025 profit.

Filings

10 annual accounts 2 late

The 2019 accounts came latest: 91 days after the end of the period.

Position in the sector

€251,246

More equity than 85% of companies in architecture and engineering. Sector median €63,879 · 11,799 companies.

Checked score

Excellent

Financially stronger than 72% of micro companies in architecture and engineering (NACE 71)

Probability in this band: under 0.55%

Bankruptcy probability within 12 months < 0.1% Very low

0%0.5%1.5%4%10%≥ 25%

The dashed line is the sector median: 0.1% across 14,829 companies (NACE 71, micro).

Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Last 24 months 12-2024: 0.1% 01-2025: 0.1%● unchanged vs 12-2024 02-2025: 0.1%● unchanged vs 01-2025 03-2025: 0.1%● unchanged vs 02-2025 04-2025: 0.1%● unchanged vs 03-2025 05-2025: 0.1%● unchanged vs 04-2025 06-2025: 0.1%● unchanged vs 05-2025 07-2025: 0.1%● unchanged vs 06-2025highest value 08-2025: < 0.1%▼ -0.1 percentage points vs 07-2025 09-2025: < 0.1%● unchanged vs 08-2025 10-2025: < 0.1%● unchanged vs 09-2025 11-2025: < 0.1%● unchanged vs 10-2025 12-2025: < 0.1%● unchanged vs 11-2025 01-2026: < 0.1%● unchanged vs 12-2025 02-2026: < 0.1%● unchanged vs 01-2026 03-2026: < 0.1%● unchanged vs 02-2026 04-2026: < 0.1%● unchanged vs 03-2026 05-2026: < 0.1%● unchanged vs 04-2026 06-2026: < 0.1%● unchanged vs 05-2026 07-2026: < 0.1%● unchanged vs 06-2026 08-2026: < 0.1%● unchanged vs 07-2026lowest value 09-2026: < 0.1%● unchanged vs 08-2026lowest value 10-2026: < 0.1%● unchanged vs 09-2026lowest value 11-2026: < 0.1%● unchanged vs 10-2026lowest value

Financial strength

Strong

100=equity 76.5% of total assets

92+13short-term debt 22.6% · cash 54.6%

92-1return on assets 18.4%

Score breakdown

lowers risk

Liquidity: current ratio 4.43, cash €179,561

Equity €251,246 (76.5% of total assets)

Sector: Architectural and engineering activities; technical testing and analysis (NACE 71)

Size: total assets €328,610

Calculation

The band follows from the bankruptcy probability. 10 more points roughly halve it.

75-100	Excellent	under 0.55%
60-74	Healthy	0.55% to 1.5%
45-59	Fair	1.5% to 4.2%
25-44	Weak	4.2% to 15.0%
0-24	Critical	over 15.0%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 71, micro). It does better than 87% of them on solvency, 85% on liquidity, 67% on profitability and 48% on growth.

The bankruptcy probability was computed on 10-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

The probability rests on the annual accounts with balance sheet date 31-12-2025.

Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.

Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).

Comparable companies, two years later

In July 2024, 34,693 companies had the same profile as Panel Engineering has now. Each dot stands for 87 companies, two years later.

95.3%

were still trading

3.9%

stopped another way

0.7%

went bankrupt

Micro
10 to 20 years old
solvency 30% or more
a profit of 5% of the balance sheet or more

That fits the bankruptcy probability of Panel Engineering itself: < 0.1% within 12 months.

Test of the method

The method was tested on the 497,448 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.

The companies in ten equal groups, from the lowest to the highest expected share
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%	0.9%
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%

A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.

This is an observation about 34,693 companies, not a prediction for Panel Engineering. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.

Credit verdict

Credit of up to €24,000 on 30-day terms is acceptable

Liquidity is ample, with a current ratio of 4.43 (4.92 in 2024), above the usual 1.5. Short-term debt is 22.6% and cash 54.6% of total assets. 23.5% of the assets are financed with debt and provisions.

Credit check for an amount and term of your choice

Show the recommended maximum and see how the verdict changes with amount, term and advance.

The scores and ratios are Checked's own calculations, not a credit decision.

Signals

5 signals, none raises the risk

Five signals.

lowers riskneutral

Liquidity: current ratio 4.43, cash €179,561

NBB · annual accounts

Equity €251,246 (76.5% of total assets)

NBB · annual accounts

Sector: Architectural and engineering activities; technical testing and analysis (NACE 71)

KBO

Size: total assets €328,610

Companies of this size fail less often. How much that weighs depends on the rest of the company's profile.

NBB · annual accounts

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 06-07-2026, 25 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

25 days early

2024

3 days early

2023

30 days early

2022

28 days early

2021

31 days early

2020

12 days early

2019

91 days late

← before the deadline after the deadline →

tick = median of all Belgian filingsring = median in the sector

The company filed its last 7 accounts on average 5 days before the deadline. In the sector (NACE 71), the median for financial year 2024 was 8 days before the deadline, and 34% of those companies filed late.

Searched, nothing found (2)

Next filing not due yet

The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 3 July (5 of the last 5 accounts filed within 30 days either side of that date).

Companies Code · seven months

Where today falls in the filing period

11-11-2026 today31-12-2026 year end31-07-2027 deadline

No strike-offs in the KBO publications

That holds for every publication since 2021.

KBO publications

Board and ownership

Van Deun Koen

Director

Board & ownership

Recent changes

13-01-2025

Registered in the Peppol Directory Reachable for e-invoices through 0208:0629682923

01-05-2015

First establishment Pellaarstraat 10A, Lille

30-04-2015

Incorporation published on 05-05-2015 · Gazette deed

All 18 events

Comparable companies

same main activity, similar in size and age

Company
Panel Engineering Lille	€328,610	€81,809	76.5%	-
BETHOS ENGINEERING Wuustwezel	€347,444	€79,202	15.9%	-
STIELVOL Lier	€290,737	€87,990	33.5%	-
MEESTERS ENGINEERING Geel	€384,272	€87,226	95.7%	-
RIEMERS Antwerp	€393,275	€83,430	34.6%	-
Devriendt Energy, Consulting & Engineering Antwerp	€396,209	€72,990	42.2%	-
YZERSTERK Diksmuide	€305,096	€88,036	35.0%	-

These companies have the same main activity as Panel Engineering: engineering and related technical consultancy, excluding land surveyors (NACE 71121). They are comparable in size and age: total assets between €291,000 and €396,000, founded between 2014 and 2015.

Official details

Source: KBO

Status: Active since 30-04-2015Normal situation
Activity: Engineering and related technical consultancy, excluding land surveyorsNACE 71121
Establishment unit: 2.241.902.2062275 Lille, since 01-05-2015
Financial year end: 31 December
Peppol: Reachable since 13-01-2025

Company details

Annual accounts 2025

: €81,809▲ 4.3%
: ≈ €170,000estimated
: €60,528▲ 1.4%
: €251,246▲ 4.3%
: €328,610▲ 8.7%
Filing: Filed on 06-07-2026, 25 days before the end of the filing period

Financials

Insights on Panel Engineering

Panel Engineering files the micro format. That format states no turnover. The gross margin fell from €137,360 in 2016 to €81,809 in 2025.

Sources: KBO register, filings at the National Bank, Belgian Official Gazette.

Financials

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 31-12-2025

What the company ownsHow it is paid for

in euro

Position in the sector

Compare with 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	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	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF

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.

Download as CSV

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	PDF
31-12-2024	micro format	28-07-2025	2025-00316200	PDF
31-12-2023	micro format	01-07-2024	2024-00212289	PDF
31-12-2022	micro format	03-07-2023	2023-00203067	PDF
31-12-2021	micro format	30-06-2022	2022-20117388	PDF
31-12-2020	micro format	19-07-2021	2021-38000012	PDF
31-12-2019	micro format	30-10-2020	2020-66300417	PDF
31-12-2018	micro format	23-07-2019	2019-36400600	PDF
31-12-2017	abbreviated format	28-08-2018	2018-50600323	PDF
31-12-2016	abbreviated format	20-07-2017	2017-33000415	PDF

Key figures and ratios

per financial year, computed from the annual accounts

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.

Board & ownership

Board

1 director

Van Deun Koen

Director

listed in the 2025 annual accounts, filed on 06-07-2026

Office holders in the KBO →

Mandates through the years

1 name, the dashed line is today

Van Deun Koen
Director

Boardmandate already running before its first mention

Mandates as a list

Van Deun Koen
- Director, since before 31-12-2021

See the board, name and registered office on a given date →

Control

See the annual accounts at the National Bank and the publications in the Belgian Official Gazette.

Capital

Contribution: €6,200
Source: 2025 annual accounts

Network & group

No group

Panel Engineering has no parent and no holdings in its annual accounts. Van Deun Koen is the only director. Panel Engineering shares no director with another company.

Timeline

18 events since 2015

Filings

Financial

Establishments

201620182020202220242026

Deadline for the 2026 accounts: 31-07-2027

2026

06-07-2026

Annual accounts 2025 filed NBBmicro format · 25 days before the deadline

2025

28-07-2025

Annual accounts 2024 filed PDFmicro format · 3 days before the deadline

13-01-2025

Registered in the Peppol Directory Reachable for e-invoices through 0208:0629682923

2024

01-07-2024

Annual accounts 2023 filed PDFmicro format · 30 days before the deadline

2023

03-07-2023

Annual accounts 2022 filed PDFmicro format · 28 days before the deadline

2022

30-06-2022

Annual accounts 2021 filed PDFmicro format · 31 days before the deadline

2021

19-07-2021

Annual accounts 2020 filed PDFmicro format · 12 days before the deadline

2020

30-10-2020

Annual accounts 2019 filed PDFmicro format · 91 days late

2019

31-12-2019

Liquidity more than 5 times current ratio 39.80 The current ratio rises from 7.81 to 39.80. Short-term debt falls from €19,980 to €4,796.

31-12-2019

Equity above €200,000 equity €206,240 ▲28.2% With a profit in every financial year since 2016, equity grows to €206,240.

23-07-2019

Annual accounts 2018 filed PDFmicro format · 8 days before the deadline

2018

31-12-2018

Liquidity more than doubled current ratio 7.81 The current ratio rises from 2.64 to 7.81. Short-term debt falls from €73,170 to €19,980.

31-12-2018

Equity above €150,000 equity €160,925 ▲30.5% With a profit in every financial year since 2016, equity grows to €160,925.

28-08-2018

Annual accounts 2017 filed PDFabbreviated format · 28 days late

2017

31-12-2017

Equity above €100,000 equity €123,345 ▲46.1% With a profit in every financial year since 2016, equity grows to €123,345.

20-07-2017

Annual accounts 2016 filed PDFabbreviated format · 11 days before the deadline

2015

01-05-2015

First establishment Pellaarstraat 10A, Lille

30-04-2015

Incorporation PDFpublished on 05-05-2015

Financial milestones sit on the financial year-end date, not the filing date.

Sources: Publications in the Belgian Official Gazette Filings with the National Bank

History

Panel Engineering was incorporated on 30 April 2015.¹ Total assets rose from €181,654 in 2018 to €328,610 in 2025.²

Company details

Identity

Enterprise number: 0629.682.923
VAT number: BE 0629.682.923
Peppol ID: 0208:0629682923
Other Peppol ID: 9925:BE0629682923
Legal form: Private limited company (pre-2019)
Status: Active, normal situation
Founded: 30-04-2015
Financial year: ends on 31 December
Peppol: Reachable since 13-01-2025Follow this company and you will hear the next morning if it leaves the Peppol register.
Name: Panel Engineering in Dutch
Entity type: Legal entity

Activities

NACEBEL 2025

71121 Engineering and related technical consultancy, excluding land surveyors main activity

Codes under NACEBEL 2008

71121 Engineering activities main activity

Registered office and establishments

1 establishment

Establishment	Since	Unit number
Pellaarstraat 10A registered office 2275 Lille	01-05-2015	2.241.902.206

Buildings and parcels at the address

Ground area: 493 m²
Buildings: 81 m²
Volume, LiDAR: 642 m³
Tallest building: 10.5 m

Buildings to scale, each on its own parcel

registered office establishment The establishment unit on the map

Parcels

Cadastral parcel	Area	Buildings	Height / floors
13009C0027/00P003	493 m²	1 · 81 m²	10.4 m · 3

Overview

Lifetime

Key points

Equity

Filings

Position in the sector

Checked score

Score breakdown

Comparable companies, two years later

Credit verdict

Signals

Board and ownership

Recent changes

Comparable companies

Official details

Annual accounts 2025

Insights on Panel Engineering

Financials

Annual accounts 2025

Balance sheet

Change in equityin euro

Change in cashin euro

Position in the sector

Solvency76.5%

Current ratio4.43

Return on assets18.4%

Filed annual accounts

Filings

Key figures and ratios

Insights on Panel Engineering

Board & ownership

Board

Mandates through the years

Control

Capital

Network & group

No group

Timeline

Timeline

History

Company details

Identity

Activities

Registered office and establishments

Buildings and parcels at the address

Location

Parcels

in euro

in euro

76.5%

4.43

18.4%