PANITAL
ActiveSummary
PANITAL is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2024 annual accounts show equity of €684,948 and a net result of €15,239. Equity is shrinking by ~23.8% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2026. The company has been active since 1997 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 19-06-2026, 42 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
42 d early
2024
29 d late
2023
27 d late
2022
56 d early
2021
16 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 5 days before the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% of the sector filed late.
Checked, nothing found (2)
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. Usually files around 16 August (4 of the last 5 filed years within 58 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2024, full schema, statutory accounts
Equity
€684,948▲ 2.3%
2023 · €669,709
Net result
€15,239▼ 98.6%
2023 · €1.1m
Total assets
€3.8m▲ 0.2%
2023 · €3.8m
Solvency
18.0%▲ 0.4pp
2023 · 17.7%
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Turnover€306,000€306,000=
Operating result€97,675▼ 8.8%€74,544▼ 23.7%€127,542▲ 71.1%€121,542▼ 4.7%€21,138▼ 82.6%
Net result€76,191above the sector's middle half▼ 7.6%€39,747within the sector's middle half▼ 47.8%€90,562within the sector's middle half▲ 128%€1.1mabove the sector's middle half▲ 1,065%€15,239within the sector's middle half▼ 98.6%
Equity€2.1mabove the sector's middle half▲ 3.7%€1.4mabove the sector's middle half▼ 31.8%€614,912within the sector's middle half▼ 57.6%€669,709within the sector's middle half▲ 8.9%€684,948within the sector's middle half▲ 2.3%
Total assets€3.8mabove the sector's middle half▲ 0.3%€3.8mabove the sector's middle half▲ 1.6%€3.8mwithin the sector's middle half▼ 1.8%€3.8mwithin the sector's middle half▲ 0.9%€3.8mwithin the sector's middle half▲ 0.2%
Debt€1.6m▼ 3.8%€2.4m▲ 44.7%€3.1m▲ 32.3%€3.1m▼ 0.6%€3.1m▼ 0.2%
Working capital-€1.6mbelow the sector's middle half▲ 4.5%-€2.3mbelow the sector's middle half▼ 41.7%-€67,231within the sector's middle half▲ 97.1%-€40,460within the sector's middle half▲ 39.8%-€9,644within the sector's middle half▲ 76.2%
Solvency56.4%within the sector's middle half▲ 1.8pp37.9%within the sector's middle half▼ 18.5pp16.4%below the sector's middle half▼ 21.5pp17.7%below the sector's middle half▲ 1.3pp18.0%below the sector's middle half▲ 0.4pp
Current ratio0.01below the sector's middle half▲ 0.010.03below the sector's middle half▲ 0.020.15below the sector's middle half▲ 0.110.54within the sector's middle half▲ 0.390.85within the sector's middle half▲ 0.31
Return on assets (ROA)2.0%within the sector's middle half▼ 0.2pp1.0%below the sector's middle half▼ 1.0pp2.4%within the sector's middle half▲ 1.4pp27.8%above the sector's middle half▲ 25.4pp0.4%within the sector's middle half▼ 27.4pp
above
within
below
the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2024 is 83% below 2023 and is the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €3.8m
Fixed assets
€3.7m =
Current assets
€55,483 ▲ 17.3%
Equity and liabilities €3.8m
Equity
€684,948 ▲ 2.3%
Debt
€3.1m ▼ 0.2%
Debt's share of the balance-sheet total falls from 82.3% to 82.0%. Equity is higher and debt is lower.
Key figures and ratios
ROE
2.2%▼
2023 · 157.5%
Debt ≤ 1 year
€65,127▼
2023 · €87,742
Debt > 1 year
€3.0m▲
2023 · €3.0m
Income taxes
€5,708▼
2023 · €32,388
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | €306,000 | €306,000 | €306,000 | = |
| Turnover70 | - | - | - | €306,000 | €306,000 | = |
| Other operating income74 | - | - | €306,000 | - | - | - |
| Operating charges60/66A | - | - | €178,458 | €184,458 | €284,862 | ▲ 54.4% |
| Services and other goods61 | - | - | €177,468 | €183,366 | €283,754 | ▲ 54.7% |
| Other operating charges640/8 | - | €988 | €990 | €1,092 | €1,108 | ▲ 1.5% |
| Non-recurring operating charges66A | - | €8,255 | - | - | - | - |
| Gross operating margin9900 | €98,662 | €83,787 | - | - | - | - |
| Operating profit (loss)9901 | €97,675 | €74,544 | €127,542 | €121,542 | €21,138 | ▼ 82.6% |
| Financial income75/76B | - | €43 | €35 | €965,827 | - | - |
| Recurring financial income75 | €1 | €43 | €35 | €965,827 | - | - |
| Income from financial fixed assets750 | - | - | - | €965,826 | - | - |
| Other financial income752/9 | - | - | €35 | €1 | - | - |
| Financial charges65/66B | - | €214 | €2,993 | €184 | €191 | ▲ 3.8% |
| Recurring financial charges65 | €802 | €214 | €2,993 | €184 | €191 | ▲ 3.8% |
| Other financial charges652/9 | - | - | €2,993 | €184 | €191 | ▲ 3.8% |
| Profit (loss) for the period before taxes9903 | €96,874 | €74,373 | €124,584 | €1.1m | €20,947 | ▼ 98.1% |
| Income taxes67/77 | €20,683 | €34,626 | €34,022 | €32,388 | €5,708 | ▼ 82.4% |
| Taxes670/3 | - | - | €34,022 | €32,388 | €5,708 | ▼ 82.4% |
| Profit (loss) for the period9904 | €76,191 | €39,747 | €90,562 | €1.1m | €15,239 | ▼ 98.6% |
| Profit (loss) for the period to be appropriated9905 | €76,191 | €39,747 | €90,562 | €1.1m | €15,239 | ▼ 98.6% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.8m | €3.8m | €3.8m | €3.8m | €3.8m | ▲ 0.2% |
| Fixed assets21/28 | €3.7m | €3.7m | €3.7m | €3.7m | €3.7m | = |
| Financial fixed assets28 | €3.7m | €3.7m | €3.7m | €3.7m | €3.7m | = |
| Affiliated companies280/1 | - | - | €3.7m | €3.7m | €3.7m | = |
| Participating interests280 | - | - | €3.7m | €3.7m | €3.7m | = |
| Current assets29/58 | €22,136 | €80,550 | €11,713 | €47,282 | €55,483 | ▲ 17.3% |
| Amounts receivable within one year40/41 | €16,083 | €58,500 | - | - | - | - |
| Trade receivables40 | - | €22,500 | - | - | - | - |
| Other amounts receivable41 | - | €36,000 | - | - | - | - |
| Cash at bank and in hand54/58 | €5,963 | €19,072 | €9,119 | €44,507 | €52,713 | ▲ 18.4% |
| Deferred charges and accrued income490/1 | - | €2,978 | €2,594 | €2,775 | €2,770 | ▼ 0.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.8m | €3.8m | €3.8m | €3.8m | €3.8m | ▲ 0.2% |
| Equity10/15 | €2.1m | €1.4m | €614,912 | €669,709 | €684,948 | ▲ 2.3% |
| Contributions10/11 | - | €107,608 | €107,608 | €107,608 | €107,608 | = |
| Reserves13 | €2.0m | €1.3m | €507,304 | €562,101 | €577,340 | ▲ 2.7% |
| Non-distributable reserves130/1 | - | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Reserves not available under the articles1311 | - | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Distributable reserves133 | - | €1.3m | €505,304 | €560,101 | €575,340 | ▲ 2.7% |
| Amounts payable17/49 | €1.6m | €2.4m | €3.1m | €3.1m | €3.1m | ▼ 0.2% |
| Amounts payable after more than one year17 | - | - | €3.1m | €3.0m | €3.0m | ▲ 0.5% |
| Other amounts payable178/9 | - | - | €3.1m | €3.0m | €3.0m | ▲ 0.5% |
| Amounts payable within one year42/48 | €1.6m | €2.4m | €78,944 | €87,742 | €65,127 | ▼ 25.8% |
| Trade debts44 | €343 | €3,638 | €2,502 | €2,775 | €2,626 | ▼ 5.4% |
| Suppliers440/4 | - | €3,638 | €2,502 | €2,775 | €2,626 | ▼ 5.4% |
| Taxes, remuneration and social security45 | - | €62,432 | €72,954 | €84,967 | €62,501 | ▼ 26.4% |
| Taxes450/3 | - | €62,432 | €72,954 | €84,967 | €62,501 | ▼ 26.4% |
| Other amounts payable47/48 | - | €2.3m | €3,488 | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €76,191 | €39,747 | €90,562 | €1.1m | €15,239 | ▼ 98.6% |
| Operating cash flow (approximation) | €76,191 | €39,747 | €90,562 | €1.1m | €15,239 | ▼ 98.6% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €13,109 | -€9,953 | €35,388 | €8,206 | ▼ 76.8% |
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 2026, expected by
2026
01-09
NBB filing
Annual accounts filed
fiscal year 2025 · consolidated
19-06
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
17-12
NBB filing
Annual accounts filed
fiscal year 2024 · consolidated · 29 days late
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 29 days late
27-01
NBB filing
Annual accounts filed
fiscal year 2023 · consolidated · 27 days late
2024
31-12
Financial
Weakest financial yearnet €15,239 ▼98.6%
Net result drops to €15,239, the lowest in the series.
27-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 27 days late
10-07
NBB filing
Annual accounts filed
fiscal year 2022 · consolidated
2023
31-12
Financial
Highest result since 2018net €1.1m ▲1,065%
Net result €1.1m, the highest in the series.
05-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
05-04
NBB filing
Annual accounts filed
fiscal year 2021 · consolidated · 16 days late
2022
16-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 16 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 12 acts read
About the unread acts
We know of 12 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
12 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, Gent · 1 establishment unit since 1997
Ground area
84 m²
Building footprint
78 m²
Volume, LiDAR
762 m³
Parcel 44815F1765/00A000, Flanders · tallest building 12.1 m, ±3 floors. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
PANITAL
since 19972.084.320.558
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44815F1765/00A000 | Flanders | 84 m² | 1 · 78 m² | 12.1 m · 3 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.
Structure & network
Owners and holdings
1 holding · 6 subsidiaries in the treeOwners 0
The accounts to 31-12-2024 list no shareholders, and no other source names one.
Holdings 1
-
96.58%
All subsidiaries, including indirect ones 6
Companies in which this company or one of its subsidiaries holds more than half, or which it consolidates according to the LEI register.
Arovo Belgium 96.58%5 subsidiaries
- Arovo BVNL 100%
- Arovo US IncUS 100%
- NAPA Creations LTDIE 100%
- Red Dragon Global Sourcing LimitedCN 100%
- The Great Product Exchange LDTGB 88%
According to the 2024 annual accounts of PANITAL and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 24,728 companies in sector 64210 we hold annual accounts for 19,805. 13,347 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
Founded03-10-1997
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
46494Wholesale of non-electrical household articles
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0461594591
Registered
15-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.