PANGEA
ActiveSummary
PANGEA has been active since 2000 and the Belgian State Gazette contains no insolvency or warning signals. The 2026 annual accounts show equity of €3.9m and a net result of €864,174. Equity is growing by ~20.5% per year across the filed fiscal years. Its solvency ranks better than 94% of 152 sector peers (fiscal year 2026). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2026
Axes · tick = 2025
Profitability96▲+8
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €360,000 at 30 days acceptable
short-term debt: 0.7% and cash: 68.1% of total assets, and 0.7% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2026Solvency, return and age of the figures
Solvency
99.3%
Return on assets
22.1%
Age of the figures
3 mo
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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2026 was due by 31-01-2027 and was filed on 29-07-2026, 186 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2026
186 d early
2025
127 d early
2024
126 d early
2023
134 d early
2022
137 d early
2021
133 d early
2020
72 d early
← 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 131 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2027 and is due by 31-01-2028. Nothing is late today. Usually files around 19 September (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today30-06-2027 close31-01-2028 deadline
History
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Financials · fiscal year 2026, abbreviated schema
Equity
€3.9m▼ 21.2%
2025 · €4.9m
Total assets
€3.9m▼ 39.4%
2025 · €6.4m
Net result
€864,174▼ 14.0%
2025 · €1.0m
Working capital
€3.7m▼ 20.8%
2025 · €4.7m
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 46, Wholesale trade, 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
Line20222023202420252026
Operating result€1.4m▲ 416%€1.6m▲ 9.0%€699,756▼ 55.6%€1.1m▲ 56.3%€946,286▼ 13.5%
Net result€1.3mabove the sector's middle half▲ 239%€1.4mabove the sector's middle half▲ 4.9%€647,318above the sector's middle half▼ 52.4%€1.0mabove the sector's middle half▲ 55.3%€864,174▼ 14.0%
Equity€3.5mabove the sector's middle half▲ 59.8%€4.2mabove the sector's middle half▲ 21.4%€3.9mabove the sector's middle half▼ 6.5%€4.9mabove the sector's middle half▲ 25.0%€3.9m▼ 21.2%
Total assets€4.0mabove the sector's middle half▲ 66.3%€4.2mabove the sector's middle half▲ 5.3%€4.2mabove the sector's middle half▼ 0.4%€6.4mabove the sector's middle half▲ 52.3%€3.9m▼ 39.4%
Debt€569,575▲ 121%€40,408▼ 92.9%€293,645▲ 627%€1.5m▲ 417%€26,954▼ 98.2%
Working capital€3.3mabove the sector's middle half▲ 77.1%€4.1mabove the sector's middle half▲ 23.1%€3.8mabove the sector's middle half▼ 7.8%€4.7mabove the sector's middle half▲ 23.0%€3.7m▼ 20.8%
Solvency85.9%above the sector's middle half▼ 3.5pp99.0%above the sector's middle half▲ 13.2pp93.1%above the sector's middle half▼ 6.0pp76.4%above the sector's middle half▼ 16.6pp99.3%▲ 22.9pp
Current ratio6.87above the sector's middle half▼ 2.4913.92above the sector's middle half4.07above the sector's middle half▼ 9.85
Return on assets (ROA)32.1%above the sector's middle half▲ 16.4pp32.0%above the sector's middle half▼ 0.1pp15.3%above the sector's middle half▼ 16.7pp15.6%above the sector's middle half▲ 0.3pp22.1%▲ 6.5pp
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2026; 2026 is 13% below 2025.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €3.9m
Fixed assets
€185,324 ▼ 28.5%
Current assets
€3.7m ▼ 39.8%
Equity and liabilities €3.9m
Equity
€3.9m ▼ 21.2%
Debt
€26,954 ▼ 98.2%
Debt's share of the balance-sheet total falls from 23.6% to 0.7%. Equity and debt are lower.
Key figures and ratios
EBITDA
€1.0m▼
2025 · €1.1m
Cash flow
€937,933▼
2025 · €1.0m
Debt to equity
0.01▼
2025 · 0.31
ROE
22.3%▲
2025 · 20.4%
Interest coverage
38.17▼
2025 · 138.72
Debt ≤ 1 year
€26,954▼
2025 · €1.5m
Income taxes
€471,542▲
2025 · €463,635
A ratio outside any meaningful range has been withheld (balance sheet total €3.9m, equity €3.9m).
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 20,134 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
4.7%
stopped otherwise
95%
still going
For this company itself Checked computes a bankruptcy probability of 0.3% 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 497,340 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 20,134 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 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €391,381 | - | - | €14,876 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €30,403 | €30,417 | €38,320 | €36,263 | €73,758 | ▲ 103% |
| Other operating charges640/8 | €3,974 | €3,270 | €4,332 | €6,356 | €2,937 | ▼ 53.8% |
| Gross operating margin9900 | €1.5m | €1.6m | €742,408 | €1.1m | €1.0m | ▼ 10.0% |
| Operating profit (loss)9901 | €1.4m | €1.6m | €699,756 | €1.1m | €946,286 | ▼ 13.5% |
| Financial income75/76B | €338,754 | €437,089 | €279,998 | €383,118 | €416,157 | ▲ 8.6% |
| Recurring financial income75 | €338,754 | €437,089 | €279,998 | €383,118 | €416,157 | ▲ 8.6% |
| Financial charges65/66B | €15,717 | €20,918 | €33,986 | €8,146 | €26,727 | ▲ 228% |
| Recurring financial charges65 | €15,717 | €20,918 | €33,986 | €8,146 | €26,727 | ▲ 228% |
| Profit (loss) for the period before taxes9903 | €1.8m | €2.0m | €945,768 | €1.5m | €1.3m | ▼ 9.1% |
| Income taxes67/77 | €470,374 | €630,285 | €298,450 | €463,635 | €471,542 | ▲ 1.7% |
| Profit (loss) for the period9904 | €1.3m | €1.4m | €647,318 | €1.0m | €864,174 | ▼ 14.0% |
| Profit (loss) for the period to be appropriated9905 | €1.3m | €1.4m | €647,318 | €1.0m | €864,174 | ▼ 14.0% |
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €4.0m | €4.2m | €4.2m | €6.4m | €3.9m | ▼ 39.4% |
| Fixed assets21/28 | €125,723 | €96,923 | €147,083 | €259,082 | €185,324 | ▼ 28.5% |
| Tangible fixed assets22/27 | €125,723 | €96,923 | €147,083 | €259,082 | €185,324 | ▼ 28.5% |
| Land and buildings22 | - | - | €81,102 | €77,366 | €76,408 | ▼ 1.2% |
| Plant, machinery and equipment23 | - | - | - | €3,266 | €2,938 | ▼ 10.1% |
| Furniture and vehicles24 | €2,277 | €1,694 | €1,111 | €133,201 | €105,978 | ▼ 20.4% |
| Other tangible fixed assets26 | €123,446 | €95,229 | €64,870 | €45,249 | - | - |
| Current assets29/58 | €3.9m | €4.2m | €4.1m | €6.2m | €3.7m | ▼ 39.8% |
| Amounts receivable within one year40/41 | €702,750 | €303,567 | €531,890 | €556,808 | €209,970 | ▼ 62.3% |
| Trade receivables40 | €364,713 | €158,244 | €291,534 | €276,410 | - | - |
| Other amounts receivable41 | €338,037 | €145,323 | €240,356 | €280,398 | €209,970 | ▼ 25.1% |
| Current investments50/53 | - | €446,630 | €157,032 | - | €848,710 | - |
| Cash at bank and in hand54/58 | €3.2m | €3.4m | €3.4m | €5.6m | €2.7m | ▼ 52.7% |
| Deferred charges and accrued income490/1 | €1,956 | €1,707 | €4,857 | €2,305 | €1,537 | ▼ 33.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €4.0m | €4.2m | €4.2m | €6.4m | €3.9m | ▼ 39.4% |
| Equity10/15 | €3.5m | €4.2m | €3.9m | €4.9m | €3.9m | ▼ 21.2% |
| Contributions10/11 | €553,000 | €750 | €750 | €750 | €750 | = |
| Reserves13 | €2.9m | €4.2m | €3.9m | €4.9m | €3.9m | ▼ 21.2% |
| Non-distributable reserves130/1 | €55,300 | - | - | - | - | - |
| Reserves not available under the articles1311 | €55,300 | - | - | - | - | - |
| Distributable reserves133 | €2.9m | €4.2m | €3.9m | €4.9m | €3.9m | ▼ 21.2% |
| Amounts payable17/49 | €569,575 | €40,408 | €293,645 | €1.5m | €26,954 | ▼ 98.2% |
| Amounts payable within one year42/48 | €568,914 | €40,071 | €293,295 | €1.5m | €26,954 | ▼ 98.2% |
| Trade debts44 | €193,624 | €12,305 | €261,858 | €1.5m | €11,217 | ▼ 99.2% |
| Suppliers440/4 | €193,624 | €12,305 | €261,858 | €1.5m | €11,217 | ▼ 99.2% |
| Advances received on contracts in progress46 | €368,682 | - | - | - | - | - |
| Taxes, remuneration and social security45 | €24 | - | €860 | €1,815 | - | - |
| Taxes450/3 | €24 | - | - | - | - | - |
| Remuneration and social security454/9 | - | - | €860 | €1,815 | - | - |
| Other amounts payable47/48 | €6,585 | €27,766 | €30,576 | €34,814 | €15,737 | ▼ 54.8% |
| Accrued charges and deferred income492/3 | €661 | €337 | €351 | €891 | - | - |
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1.3m | €1.4m | €647,318 | €1.0m | €864,174 | ▼ 14.0% |
| + Depreciation and write-downs630 | €30,403 | €30,417 | €38,320 | €36,263 | €73,758 | ▲ 103% |
| Operating cash flow (approximation) | €1.3m | €1.4m | €685,638 | €1.0m | €937,933 | ▼ 9.9% |
| Investment in fixed assets (approximation) | - | -€1,616 | -€88,480 | -€148,262 | €0 | ▲ 100% |
| Change in cash | - | €195,394 | -€10,784 | €2.2m | -€3.0m | ▼ 233% |
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 2027, expected by
2026
29-07
NBB filing
Annual accounts filed
fiscal year 2026 · abbreviated schema
30-06
Financial
Liquidity times 34current ratio 137.98
Current ratio from 4.07 to 137.98; short-term debt falls from €1.5m to €26,954.
2025
26-09
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2024
27-09
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2023
19-09
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
30-06
Financial
Highest result since 2019net €1.4m ▲4.9%
Operating result €1.6m, net result €1.4m, both a record.
30-06
Financial
Liquidity times 15current ratio 103.58
Current ratio from 6.87 to 103.58; short-term debt falls from €568,914 to €40,071.
2022
16-09
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2021
20-09
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
30-06
Financial
Liquidity triplescurrent ratio 9.36
Current ratio from 3.09 to 9.36; short-term debt falls from €1.3m to €225,680.
30-06
Financial
Equity above €2mEq €2.2m ▲21.3%
3 profitable years in a row build equity to €2.2m.
2020
20-11
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
Show earlier events
13-01
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
14-01
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
09-01
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Sint-Martens-Latem · 1 establishment unit since 2000
Ground area
9,627 m²
Building footprint
1,080 m²
Volume, LiDAR
14,989 m³
Parcel 44015A0163/00V000, Flanders · tallest building 17.6 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
Pontstraat 110, 9831 Sint-Martens-Latem
since 20002.099.478.094
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44015A0163/00V000 | Flanders | 9,627 m² | 1 · 1,080 m² | 17.6 m · 5 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 1,307 companies in sector 46423 we hold annual accounts for 810. 274 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded14-03-2000
Fiscal year end30-06
Activities, NACEBEL 2025
46423Wholesale of clothing, excluding workwear and underwear
46190Agents in non-specialised wholesale trade
46499Wholesale of other household goods
E-invoicing
Reachable via Peppol
Peppol ID
0208:0471420790
Registered
25-07-2025
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.