PANNENHOEF
ActiveSummary
PANNENHOEF has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €7.6m and a net result of €4.5m. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 82% of 1696 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability100▲+1
Solvency99▼-1
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €650,000 at 30 days acceptable
Liquidity ample (current ratio 2.74 against 66.75 in 2023; short-term debt: 8.3% and cash: 0.6% of total assets), and 25.6% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 01
Relative position
BE, all sectors
reference
Crop and animal production, hunting and related service activities (NACE 01)
about 70% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
74.4%
Return on assets
44%
Age of the figures
21 mo
lowers risk · Growing equity
Reported equity is higher than in 2022 and did not fall compared with 2023. These amounts do not establish the cause of the change.
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year €7.6m
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-09-2025, 61 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
61 d late
2023
57 d late
2022
60 d early
2021
76 d early
2020
96 d early
2019
56 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 10 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 37% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, abbreviated schema
In the rankings
#1 company by equity in Geel, Agriculture, forestry and fishing sector#2 company by total assets in Geel, Agriculture, forestry and fishing sector#5 oldest company in Geel, Agriculture, forestry and fishing sector
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€7.6m▲ 145%
2023 · €3.1m
Total assets
€10.2m▲ 204%
2023 · €3.3m
Net result
€4.5m▲ 458%
2023 · €802,583
Working capital
€1.5m▲ 61.9%
2023 · €905,782
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 01, Crop and animal production, hunting and related service activities, 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
Operating result-€25,003▼ 7.3%€4,259€829▼ 80.5%€1.1m▲ 127,501%€5.9m▲ 455%
Net result-€85,109below the sector's middle half▼ 5.9%-€58,049below the sector's middle half▲ 31.8%-€63,390below the sector's middle half▼ 9.2%€802,583above the sector's middle half€4.5mabove the sector's middle half▲ 458%
Equity€902,442above the sector's middle half▼ 8.6%€844,393above the sector's middle half▼ 6.4%€781,003within the sector's middle half▼ 7.5%€3.1mabove the sector's middle half▲ 296%€7.6mabove the sector's middle half▲ 145%
Total assets€2.4mabove the sector's middle half▼ 1.6%€2.4mabove the sector's middle half▼ 0.4%€2.4mwithin the sector's middle half▼ 0.3%€3.3mwithin the sector's middle half▲ 38.6%€10.2mabove the sector's middle half▲ 204%
Debt€1.5m▲ 3.1%€1.6m▲ 3.1%€1.6m▲ 3.5%€13,987▼ 99.1%€858,330▲ 6,037%
Working capital-€1.5m▼ 4.3%-€1.6m▼ 2.4%-€1.6m▼ 2.7%€905,782€1.5m▲ 61.9%
Solvency37.1%within the sector's middle half▼ 2.9pp34.8%within the sector's middle half▼ 2.2pp32.3%within the sector's middle half▼ 2.5pp92.3%above the sector's middle half▲ 60.0pp74.4%above the sector's middle half▼ 17.9pp
above
within
below
the middle half (P25 to P75) of NACE 01, Crop and animal production, hunting and related service activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 455% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €10.2m
Fixed assets
€7.9m ▲ 223%
Current assets
€2.3m ▲ 151%
Equity and liabilities €10.2m
Equity
€7.6m ▲ 145%
Provisions
€1.7m ▲ 614%
Debt
€858,330 ▲ 6,037%
Debt's share of the balance-sheet total rises from 0.4% to 8.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€6.0m▲
2023 · €1.1m
Cash flow
€4.6m▲
2023 · €810,155
Current ratio
2.74▼
2023 · 66.75
Debt to equity
0.11▲
2023 · 0.00
ROE
59.2%▲
2023 · 26.0%
ROA
44.0%▲
2023 · 24.0%
Interest coverage
8081.92▲
2023 · 48.89
Debt ≤ 1 year
€844,605▲
2023 · €13,777
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,552 companies that looked in July 2024 the way this one looks now, 0.1% went bankrupt within 24 months and 97% are still going.
- Medium-sized
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.1%
went bankrupt
3.2%
stopped otherwise
97%
still going
For this company itself Checked computes a bankruptcy probability of 0.1% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
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 1,552 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €2,914 | €974,938 | €6.0m | ▲ 515% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €22,113 | €22,113 | €20,737 | €7,572 | €112,318 | ▲ 1,383% |
| Other operating charges640/8 | - | €4,072 | €7,089 | €4,857 | €2,455 | ▼ 49.5% |
| Gross operating margin9900 | €1,249 | €30,444 | €28,655 | €1.1m | €6.0m | ▲ 460% |
| Operating profit (loss)9901 | -€25,003 | €4,259 | €829 | €1.1m | €5.9m | ▲ 455% |
| Financial income75/76B | - | - | - | €10,750 | €100,926 | ▲ 839% |
| Recurring financial income75 | - | - | - | €10,750 | €100,926 | ▲ 839% |
| Financial charges65/66B | - | €62,308 | €64,219 | €21,784 | €740 | ▼ 96.6% |
| Recurring financial charges65 | €60,106 | €62,308 | €64,219 | €21,784 | €740 | ▼ 96.6% |
| Profit (loss) for the period before taxes9903 | -€85,109 | -€58,049 | -€63,390 | €1.0m | €6.0m | ▲ 471% |
| Transfer from deferred taxes780 | - | - | - | - | €1,556 | - |
| Transfer to deferred taxes680 | - | - | - | €243,735 | €1.5m | ▲ 515% |
| Profit (loss) for the period9904 | -€85,109 | -€58,049 | -€63,390 | €802,583 | €4.5m | ▲ 458% |
| Transfer from tax-exempt reserves789 | - | - | - | - | €4,669 | - |
| Transfer to tax-exempt reserves689 | - | - | - | €731,204 | €4.5m | ▲ 515% |
| Profit (loss) for the period to be appropriated9905 | -€85,109 | -€58,049 | -€63,390 | €71,379 | -€17,416 | ▼ 124% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.4m | €2.4m | €2.4m | €3.3m | €10.2m | ▲ 204% |
| Fixed assets21/28 | €2.4m | €2.4m | €2.4m | €2.4m | €7.9m | ▲ 223% |
| Intangible fixed assets21 | - | - | - | - | €7,330 | - |
| Tangible fixed assets22/27 | €2.4m | €2.4m | €2.4m | €2.4m | €7.8m | ▲ 223% |
| Land and buildings22 | - | €2.4m | €2.4m | €2.3m | €1.3m | ▼ 44.4% |
| Plant, machinery and equipment23 | - | - | - | €78,870 | €188,440 | ▲ 139% |
| Assets under construction and advance payments27 | - | - | - | €36,000 | €6.4m | ▲ 17,594% |
| Current assets29/58 | €4,677 | €16,766 | €29,828 | €919,559 | €2.3m | ▲ 151% |
| Amounts receivable within one year40/41 | - | €6,000 | €11,200 | €689,721 | €2.2m | ▲ 219% |
| Trade receivables40 | - | €6,000 | €11,200 | €68,933 | €183,375 | ▲ 166% |
| Other amounts receivable41 | - | - | - | €620,788 | €2.0m | ▲ 225% |
| Cash at bank and in hand54/58 | €4,677 | €10,766 | €18,628 | €229,838 | €58,555 | ▼ 74.5% |
| Deferred charges and accrued income490/1 | - | - | - | - | €51,622 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.4m | €2.4m | €2.4m | €3.3m | €10.2m | ▲ 204% |
| Equity10/15 | €902,442 | €844,393 | €781,003 | €3.1m | €7.6m | ▲ 145% |
| Contributions10/11 | - | €1.1m | €1.1m | €1.9m | €1.9m | = |
| Reserves13 | €10,000 | €10,000 | €10,000 | €893,771 | €5.4m | ▲ 503% |
| Non-distributable reserves130/1 | - | €10,000 | €10,000 | €10,000 | - | - |
| Reserves not available under the articles1311 | - | €10,000 | €10,000 | €10,000 | - | - |
| Tax-exempt reserves132 | - | - | - | €883,771 | €5.4m | ▲ 508% |
| Distributable reserves133 | - | - | - | - | €10,000 | - |
| Profit (loss) carried forward14 | -€171,021 | -€229,070 | -€292,460 | €304,311 | €286,895 | ▼ 5.7% |
| Investment grants15 | - | - | - | €5,058 | €4,278 | ▼ 15.4% |
| Provisions and deferred taxes16 | - | - | - | €243,735 | €1.7m | ▲ 614% |
| Deferred taxes168 | - | - | - | €243,735 | €1.7m | ▲ 614% |
| Amounts payable17/49 | €1.5m | €1.6m | €1.6m | €13,987 | €858,330 | ▲ 6,037% |
| Amounts payable within one year42/48 | €1.5m | €1.6m | €1.6m | €13,777 | €844,605 | ▲ 6,031% |
| Trade debts44 | €9,247 | €11,772 | €9,538 | €13,777 | €844,605 | ▲ 6,031% |
| Suppliers440/4 | - | €11,772 | €9,538 | €13,777 | €844,605 | ▲ 6,031% |
| Other amounts payable47/48 | - | €1.6m | €1.6m | - | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €210 | €13,725 | ▲ 6,436% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€85,109 | -€58,049 | -€63,390 | €802,583 | €4.5m | ▲ 458% |
| + Depreciation and write-downs630 | €22,113 | €22,113 | €20,737 | €7,572 | €112,318 | ▲ 1,383% |
| Operating cash flow (approximation) | -€62,996 | -€35,936 | -€42,653 | €810,155 | €4.6m | ▲ 466% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€49,698 | -€5.5m | ▼ 11,040% |
| Change in cash | - | €6,089 | €7,862 | €211,210 | -€171,283 | ▼ 181% |
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
2025
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 61 days late
2024
31-12
Financial
Highest result since 2018net €4.5m ▲458%
Operating result €5.9m, net result €4.5m, both a record.
31-12
Financial
Equity above €5mEq €7.6m ▲145%
2 profitable years in a row build equity to €7.6m.
26-09
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 57 days late
2023
31-12
Financial
Back to profitnet €802,583
Net result €802,583 after 4 loss-making years.
31-12
Financial
Liquidity times 3659current ratio 66.75
Current ratio from 0.02 to 66.75; short-term debt falls from €1.6m to €13,777.
31-12
Financial
Equity above €2mEq €3.1m ▲296%
Equity rises from €781,003 to €3.1m.
01-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
16-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
26-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Weakest financial yearnet -€85,109
Net result drops to -€85,109, the lowest in the series; recovery starts the following year.
25-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 56 days late
Show earlier events
2019
01-11
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 93 days late
2018
13-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
21-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
22-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 22 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, Geel · 1 establishment unit since 2019
Ground area
2.4 ha
Building footprint
8,688 m²
Volume, LiDAR
524 m³
2 parcels, Flanders · tallest building 3.3 m, ±1 floor. Linked by address, not a title deed.
15
companies at this address
See who is registered here
1 establishment unit
Pannenhoef
since 20192.298.530.212
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13373K0328/00C002 | Flanders | 2.4 ha | 1 · 8,509 m² | - |
| 13017C0727/00C000 | Flanders | 180 m² | 1 · 180 m² | 3.3 m · 1 fl. |
Linked by address, not proof of ownership
Good to know
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
1 siteKasterlee2.298.530.212
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Of 73 companies in sector 01160 we hold annual accounts for 19. 9 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 (pre-2019)
Founded20-06-1991
Fiscal year end31-12
Activities, NACEBEL 2025
01160Crop and animal production, hunting and related service activities
01130Growing of vegetables, melons, roots and tubers
01500Mixed farming
02100Forestry and logging
81100Combined facilities support activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0444516059
Also
9925:BE0444516059
Registered
27-05-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.