Summary
Conclusion
the dossier summarised in one paragraphThe computed 12-month bankruptcy probability of PANISA is 3.4% (moderate). The 2022 annual accounts show equity of €19k and a net result of €4k. Equity is shrinking by ~12.9% per year across the filed fiscal years. Its solvency ranks better than 95% of 6519 sector peers (fiscal year 2022). The company has been active since 1986 and the Belgian State Gazette contains no insolvency signals. The CBE does carry 1 administrative register entry (see administrative flags).
Based on the State Gazette, CBE and 5 annual accounts.
Signals
Insufficient current data: the most recent filed accounts (financial year 2022) are too old to derive current signals.
Trust signals
2 signalsAdministrative Flags
1 eventBankruptcy probability (12 mo)
Checked model v1 · free for everyoneStatistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?
Financials
Annual accounts & ratios
Source: NBB · 2022How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 88.6% | 36.4% | |
| Net result | €4k | €12k | |
| Equity | €19k | €26k | |
| Gross operating margin | €21k | €32k | |
| Staff costs | €15k | €26k |
| Fiscal year | 2022 |
|---|---|
| Revenue | €45k |
| EBITDA | - |
| Net profit | €4k |
| Cash flow | - |
| Staff costs | €15k |
| Income taxes | - |
| Dividends | - |
| Total assets | €21k |
| Equity | €19k |
| Debt | €2k |
| of which ≤ 1y | €2k |
| of which > 1y | - |
| Working capital | €17k |
| Employees (FTE) | - |
| 2022 | |
|---|---|
| Current ratio | 11.46 |
| Quick ratio | 11.46 |
| Working capital ratio | 81.4% |
| Solvency | 88.6% |
| Debt / equity | 0.09 |
| Long-term debt ratio | - |
| Interest coverage | - |
| Gross margin | 41.6% |
| Net margin | 9.2% |
| ROA | 19.6% |
| ROE | 22.2% |
| EBITDA margin | - |
| Days sales outstanding | 139d |
| Days payable outstanding | - |
| Inventory turnover | - |
| Days inventory (DSI) | - |
| Line item | Code | 2022 |
|---|---|---|
| Balance sheet, Assets | ||
| TOTAL ASSETS | 20/58 | €21k |
| Fixed assets | 21/28 | €2k |
| Financial fixed assets | 28 | €2k |
| Current assets | 29/58 | €19k |
| Amounts receivable within one year | 40/41 | €17k |
| Cash & bank | 54/58 | €2k |
| Balance sheet, Equity & liabilities | ||
| TOTAL EQUITY & LIABILITIES | 10/49 | €21k |
| Equity | 10/15 | €19k |
| Contributions / capital | 10/11 | €19k |
| Reserves | 13 | €3k |
| Accumulated profits (losses) | 14 | €-2k |
| Provisions & deferred taxes | 16 | €773 |
| Amounts payable | 17/49 | €2k |
| Amounts payable within one year | 42/48 | €2k |
| Income statement | ||
| Turnover | 70 | €45k |
| Gross operating margin | 9900 | €21k |
| Operating result | 9901 | €5k |
| Financial charges | 65 | €276 |
| Result before taxes | 9903 | €4k |
| Net result for the period | 9904 | €4k |
| Result to be appropriated | 9905 | €4k |
Health barometer
FY 2022 · computedUnlock the full score breakdown, per-year score history and the indicative credit limit with Plus.
See plans →Structure & network
Locations & real estate
Establishment units
1 locationReal-estate footprint
Source: CBE × cadastre · address linkingParcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21808H1778/00D000 | Brussels | 670 m² | 1 · 488 m² | 27.7 m · 8 fl. |
| 52061B0493/00Z000 | Wallonia | 51 m² | 1 · 46 m² | 10.9 m · 3 fl. |
Publications
Lifecycle & Insolvency Signals
1 event from the State GazetteTime machine: BS events + macro context
2021-2026Belgisch Staatsblad · acts
4 acts23-07-2024 Transaction in capital or shares
23-04-2024 MUNTEANU-ZAHARIA MIRCEA-MIHAI appointed as co administrateur
12-06-2023 INFANTINO Giuseppe appointed as director
07-11-2022 Registered office moved from Anderlecht to Roux
- Ch De Mons 150, 1070 Anderlecht → 6044 Roux; Rue De Jumet 142/001
Analysis
Snowflake analysis
financial profile on 5 axesExceptional profile, strong across almost every axis.
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Credit advice
verdict per customer and amountSimilar
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Company registry (CBE)
Crossroads Bank| Legal nameFR | PANISA |
- 13-06-2025 Address struck