PANgurus

Active

Private limited companyfounded 20215 yrs activeBuxuslaan 15, 2940 Stabroek, BelgiumKBO/BCE: BE 0769.507.136

PANgurus has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1k and a net result of €85k. Equity is shrinking by ~8.8% per year across the filed fiscal years. Its solvency ranks better than 10% of 16935 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).

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Checked score

Score 2025

53 / 100

Fair▼ -47 vs 2024

The score combines four axes. Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability100▲+36

Solvency8▼-80

Growth58▲+6

Stability94

Bankruptcy probability, 12 months

0.4% Very low

0%0.5%1.5%4%10%≥ 25%

No credit on open account

Liquidity short (current ratio 0.83 against 1.6 in 2024), and 99.2% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Seven signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Lower-failure-rate sector

In this sector companies fail less often than the Belgian average.

Gazette · bankruptcies per sector, NACE 62

Relative position

BE, all sectors

reference

Sector 62

lower

← fewer bankruptcies more bankruptcies →

Limited track record

This company has not been active as long as an established one and statistically fails somewhat more often.

KBO · incorporation date

Age against the risk zone

Annual accounts: healthy financial profile

The latest annual accounts show a healthy profile in solvency, result and liquidity.

NBB · annual accounts 2025

Solvency, return and age of the figures

Solvency

0.8%

Return on assets

71.8%

Age of the figures

8 mo

Weak solvency vs sector

Solvency (equity / total assets) is in the sector's weakest quartile: better than 10% of 16935 sector peers (2025).

NBB · sector comparison

Position among 16935 sector peers

Solvency

better than 10%

← weakest strongest →

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 24-04-2026, 98 days ahead of the deadline.

NBB · 4 filings

Deviation from the deadline

2025

98 d early

2024

14 d early

2023

19 d early

2022

28 d late

← before the deadline after the deadline →

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.

Companies Code · seven months

Position in the running window

15-09-2026 today31-12-2026 close31-07-2027 deadline

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2025, micro schema

Equity

€1k▼ 98.3%

2024 · €58k

2022: €45k 2023: €51k 2024: €58k

2022 → 2025

Total assets

€118k▲ 12.4%

2024 · €105k

2022: €106k 2023: €127k 2024: €105k

2022 → 2025

Net result

€85k▲ 1,037%

2024 · €7k

2022: €44k 2023: €6k 2024: €7k

2022 → 2025

Working capital

€-20k

2024 · €24k

2022: €11k 2023: €8k 2024: €24k

2022 → 2025

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line2022202320242025Trend

Equity€45k-€51k▲ 13.8%€58k▲ 14.7%€1k▼ 98.3%

Operating result€58k-€12k▼ 79.3%€16k▲ 35.6%€113k▲ 587%

Net result€44k-€6k▼ 85.9%€7k▲ 21.0%€85k▲ 1,037%

Turnover and EBIT margin not published: the micro schema does not require them.

Result per fiscal year

Operating resultNet result

After the dip in 2023 the operating result has climbed two years in a row; 2025 is 587% above 2024 and is the highest year so far.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €118k

18.4%

81.6%

Fixed assets €22k▼ 48.2%

Current assets €96k▲ 52.7%

Equity and liabilities €118k

99.2%

Equity €1k▼ 98.3%

Debt €117k▲ 150%

The debt ratio rises from 44.6% to 99.2%: debt grows while equity shrinks.

Key figures and ratios

2025 value · change against 2024

EBITDA

€135k▲

2024 · €44k

Cash flow

€107k▲

2024 · €35k

Solvency

0.8%▼

2024 · 55.4%

Current ratio

0.83▼

2024 · 1.60

Quick ratio

0.83▼

2024 · 1.60

ROA

71.8%▲

2024 · 7.1%

Interest coverage

80.48▲

2024 · 11.91

Debt

€117k▲

2024 · €47k

Debt ≤ 1 year

€116k▲

2024 · €39k

Debt > 1 year

€1k▼

2024 · €7k

Income taxes

€27k▲

2024 · €5k

A ratio outside any meaningful range has been withheld (balance sheet total €118k, equity €1k).

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 · 2025 against 2024

Balance sheet Code20242025

Assets

Total assets20/58€105k€118k▲

Fixed assets21/28€42k€22k▼

Tangible fixed assets22/27€42k€22k▼

Plant, machinery and equipment23€4k€4k▼

Furniture and vehicles24€24k€10k▼

Leasing and similar rights25€5k€0▼

Other tangible fixed assets26€9k€8k▼

Current assets29/58€63k€96k▲

Amounts receivable within one year40/41€8k€35k▲

Trade receivables40€4k€31k▲

Other amounts receivable41€4k€4k=

Cash at bank and in hand54/58€53k€59k▲

Deferred charges and accrued income490/1€2k€2k▲

Equity and liabilities

Total equity and liabilities10/49€105k€118k▲

Equity10/15€58k€1k▼

Contributions10/11€1k€1k=

Reserves13€57k€0▼

Distributable reserves133€57k€0▼

Profit (loss) carried forward14-€0

Amounts payable17/49€47k€117k▲

Amounts payable after more than one year17€7k€1k▼

Financial debts170/4€7k€1k▼

Amounts payable within one year42/48€39k€116k▲

Current portion of amounts payable after more than one year42€18k€6k▼

Trade debts44€5k€219▼

Suppliers440/4€5k€219▼

Taxes, remuneration and social security45€7k€7k▲

Taxes450/3€7k€7k▲

Other amounts payable47/48€9k€102k▲

Accrued charges and deferred income492/3€0-

Income statement Code20242025

Non-recurring operating income76A-€2k

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€27k€22k▼

Other operating charges640/8€4k€2k▼

Gross operating margin9900€47k€137k▲

Operating profit (loss)9901€16k€113k▲

Financial income75/76B€117€254▲

Recurring financial income75€117€254▲

Financial charges65/66B€4k€2k▼

Recurring financial charges65€4k€2k▼

Profit (loss) for the period before taxes9903€13k€111k▲

Income taxes67/77€5k€27k▲

Profit (loss) for the period9904€7k€85k▲

Profit (loss) for the period to be appropriated9905€7k€85k▲

Appropriation of the result

Profit (loss) to be appropriated9906€7k€85k▲

Transfer from equity791/2-€57k

Transfer to equity691/2€7k€0▼

To other reserves6921€7k€0▼

Profit to be distributed694/7-€142k

Return on contributions (dividend)694-€142k

The notes to these accounts (12 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 6Financial 2Filings 4

Next filing, fiscal year 2026, expected by 31-07-2027

2026

24-04

NBB filing Annual accounts filed

fiscal year 2025 · micro schema

2025

31-12

Financial Highest result since 2022net €85k ▲1037%

Operating result €113k, net result €85k, both a record.

17-07

NBB filing Annual accounts filed

fiscal year 2024 · micro schema

2024

12-07

NBB filing Annual accounts filed

fiscal year 2023 · micro schema

2023

31-12

Financial Weakest financial yearnet €6k ▼85.9%

Net result drops to €6k, the lowest in the series; recovery starts the following year.

28-08

NBB filing Annual accounts filed

fiscal year 2022 · micro schema · 28 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, Stabroek · 1 establishment unit since 2021

establishment The establishment unit on the map

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.

Buxuslaan 152940 Stabroek

Ground area

951 m²

Building footprint

135 m²

Volume, LiDAR

661 m³

Parcel 11020I0471/00M000, Flanders · tallest building 8.3 m, ±2 floors. Linked by address, not a title deed.

1 establishment unit

PANgurus

Buxuslaan 15, 2940 StabroekComputer programming, consultancy and related activities

since 20212.318.194.981

1 parcel

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
11020I0471/00M000	Flanders	951 m²	1 · 135 m²	8.3 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.

Similar companies · same sector, comparable size

Of 29,889 companies in sector 62200 we hold annual accounts for 18,318. 1,852 are within a factor 10 of this equity.See the whole sector

Company data · Crossroads Bank

Identification

Legal formPrivate limited company

Founded09-06-2021

Fiscal year end31-12

Activities, NACEBEL

62020IT consultancy

62200Computer consultancy and computer facilities management

80090Investigation and security activities

80200Investigation and security activities

Sources

Crossroads Bank for EnterprisesNational Bank · 4 filingsAddress and cadastre registers

Data from official sources, last processed on 15-09-2026. Scores and ratios are computed by Checked and are not a credit decision.