PANISTO
ActivePANISTO has been active since 1988 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €84k and a net result of €-19k. Equity is shrinking by ~2.9% per year across the filed fiscal years. Its solvency ranks better than 36% of 17964 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
15
/ 100
Critical▼ -41 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0▼-23
Solvency16▼-17
Growth32=
Stability100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.68 against 1.02 in 2024), and 82.3% of the assets are financed with debt.
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
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 47
Relative position
BE, all sectors
reference
Sector 47
higher
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
17.7%
Return on assets
-3.9%
Age of the figures
8 mo
neutral · A punctual record breaks
This company filed 9 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
31 d late
2024
6 d early
2023
on the day
2022
on the day
2021
32 d early
2020
4 d early
2019
14 d early
← before the deadline
after the deadline →
neutral · 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 monthsPosition in the running window
13-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€84k▼ 33.6%
2024 · €127k
2018: €137k
2019: €138k
2020: €148k
2021: €181k
2022: €159k
2023: €141k
2024: €127k
2018 → 2025
Total assets
€477k▼ 13.7%
2024 · €552k
2018: €221k
2019: €206k
2020: €240k
2021: €276k
2022: €570k
2023: €551k
2024: €552k
2018 → 2025
Net result
€-19k
2024 · €6k
2018: €25k
2019: €811
2020: €10k
2021: €33k
2022: €-22k
2023: €-18k
2024: €6k
2018 → 2025
Working capital
€-33k
2024 · €2k
2018: €97k
2019: €78k
2020: €101k
2021: €133k
2022: €50k
2023: €18k
2024: €2k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€181k-€159k▼ 12.3%€141k▼ 11.3%€127k▼ 10.1%€84k▼ 33.6%
Operating result€43k-€-18k€-6k▲ 66.7%€17k€-6k
Net result€33k-€-22k€-18k▲ 19.2%€6k€-19k
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €6k after €17k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €477k
Fixed assets
€408k▼ 8.2%
Current assets
€68k▼ 36.5%
Equity and liabilities €477k
Equity
€84k▼ 33.6%
Debt
€392k▼ 7.8%
The debt ratio rises from 77.1% to 82.3%: equity shrinks faster than debt is paid down.
Key figures and ratios
EBITDA
€31k▼
2024 · €46k
Cash flow
€19k▼
2024 · €35k
Solvency
17.7%▼
2024 · 22.9%
Current ratio
0.68▼
2024 · 1.02
Quick ratio
0.18▼
2024 · 0.51
Debt / equity
4.66▲
2024 · 3.36
ROE
-22.0%▼
2024 · 4.6%
ROA
-3.9%▼
2024 · 1.0%
Interest coverage
2.51▼
2024 · 4.30
Debt
€392k▼
2024 · €426k
Debt ≤ 1 year
€101k▼
2024 · €106k
Debt > 1 year
€291k▼
2024 · €320k
Income taxes
€187▼
2024 · €699
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€552k€477k▼
Fixed assets21/28€445k€408k▼
Tangible fixed assets22/27€445k€408k▼
Land and buildings22€368k€352k▼
Plant, machinery and equipment23€6k€4k▼
Furniture and vehicles24€70k€52k▼
Current assets29/58€108k€68k▼
Stocks and contracts in progress3€54k€50k▼
Stocks30/36€54k€50k▼
Amounts receivable within one year40/41€17k€7k▼
Trade receivables40€17k€7k▼
Other amounts receivable41€17-
Cash at bank and in hand54/58€17k€11k▼
Deferred charges and accrued income490/1€19k-
Equity and liabilities
Total equity and liabilities10/49€552k€477k▼
Equity10/15€127k€84k▼
Contributions10/11€19k€19k=
Reserves13€120k€96k▼
Distributable reserves133€120k€96k▼
Profit (loss) carried forward14€-12k€-31k▼
Amounts payable17/49€426k€392k▼
Amounts payable after more than one year17€320k€291k▼
Financial debts170/4€320k€291k▼
Amounts payable within one year42/48€106k€101k▼
Current portion of amounts payable after more than one year42€27k€28k▲
Financial debts43€325-
Credit institutions430/8€325-
Trade debts44€18k€7k▼
Suppliers440/4€18k€7k▼
Taxes, remuneration and social security45€9k€10k▲
Taxes450/3€9k€10k▲
Other amounts payable47/48€52k€56k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€29k€38k▲
Other operating charges640/8€4k€4k▼
Gross operating margin9900€50k€35k▼
Operating profit (loss)9901€17k€-6k▼
Financial income75/76B€365€488▲
Recurring financial income75€365€488▲
Financial charges65/66B€11k€12k▲
Recurring financial charges65€11k€12k▲
Profit (loss) for the period before taxes9903€6k€-18k▼
Income taxes67/77€699€187▼
Profit (loss) for the period9904€6k€-19k▼
Profit (loss) for the period to be appropriated9905€6k€-19k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-12k€-31k▼
Profit (loss) brought forward from the previous period14P€-18k€-12k▲
Transfer from equity791/2€20k€24k▲
Profit to be distributed694/7€20k€24k▲
Return on contributions (dividend)694€20k€24k▲
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
25-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €6k
Net result €6k after 2 loss-making years.
31-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet €-22k ▼168%
Net result drops to €-22k, the lowest in the series; recovery starts the following year.
29-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Highest result since 2018net €33k ▲212%
Operating result €43k, net result €33k, both a record.
31-12
Financial
Equity above €150kEq €181k ▲21.9%
4 profitable years in a row build equity to €181k.
27-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
17-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
23-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
28-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
13-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
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, Brugge · 2 establishment units since 1988
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.
Stationsstraat 78380 BruggeGround area
758 m²
Building footprint
160 m²
Volume, LiDAR
936 m³
2 parcels, Flanders · tallest building 8.9 m, ±2 floors. Linked by address, not a title deed.
2 establishment units
VANDEN BERGHE SHOPPING
since 19882.039.216.152
Panisto BV
since 20232.347.731.085
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31016C0175/00D000 | Flanders | 574 m² | 1 · 160 m² | 8.9 m · 2 fl. |
| 44302D1219/00M000 | Flanders | 184 m² | - | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Food safety, FASFC
2 sitesBrugge2.347.731.085
Evergem2.039.216.152
Similar companies · same sector, comparable size
MULTANI
BE 0478.752.408
Liège · Eq €84k
SYLLOU
BE 0789.881.589
Oosterzele · Eq €84k
CZ&M
BE 0892.169.376
Schilde · Eq €84k
LE COMPTOIR LOCAL
BE 0668.973.069
Linkebeek · Eq €84k
Belfresh
BE 0810.351.955
Brugge · Eq €84k
Of 10,411 companies in sector 47110 we hold annual accounts for 5,786. 4,637 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded15-03-1988
Fiscal year end31-12
Activities, NACEBEL
47110Non-specialised retail sale with food, beverages or tobacco predominating
47113Retail trade
52113
47789Other retail sale of new goods
52498
56102Limited-service restaurants
56112Limited-service restaurants, excluding mobile food services
Sources
Crossroads Bank for EnterprisesNational Bank · 38 filingsAddress and cadastre registers
Data from official sources, last processed on 11-09-2026. Scores and ratios are computed by Checked and are not a credit decision.