PANQUIN CONSTRUCT
ActiveSummary
PANQUIN CONSTRUCT has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-6.42M) and a net result of €-3.34M. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 5% of 4556 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0=
Solvency0▼-4
Growth32=
Track record100
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 0.58 against 0.85 in 2024; short-term debt: 171.5% and cash: 4.2% of total assets), and equity is negative.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← 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
-79.6%
Return on assets
-41.4%
Age of the figures
9 mo
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €-6.42M
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 02-06-2026, 59 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
59 d early
2024
28 d late
2023
56 d early
2022
53 d early
2021
53 d early
2020
30 d early
2019
17 d early
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Source amounts without an identifiable currency are assumed to be EUR.
Turnover
€64k
EBIT margin
-6.5%
Net result
€-3.34M▲ 12.2%
2024 · €-3.80M
2018: €259
2019: €-6k▼ -2492% vs 2018
2020: €2k▲ +131% vs 2019
2021: €-1k▼ -161% vs 2020
2022: €1k▲ +204% vs 2021
2023: €5k▲ +348% vs 2022highest in 8 years
2024: €-3.80M▼ -69502% vs 2023lowest in 8 years
2025: €-3.34M▲ +12.2% vs 2024
2018 → 2025
Working capital
€-5.76M▼ 120%
2024 · €-2.62M
2018: €1.02M
2019: €1.07M▲ +4.7% vs 2018
2020: €1.84M▲ +72.5% vs 2019
2021: €2.16M▲ +17.4% vs 2020highest in 8 years
2022: €802k▼ -62.9% vs 2021
2023: €988k▲ +23.2% vs 2022
2024: €-2.62M▼ -365% vs 2023
2025: €-5.76M▼ -120% vs 2024lowest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€715k-€716k▲ 0.2%€722k▲ 0.8%€-3.08M€-6.42M▼ 108%
2021: €715k
2022: €716k▲ +0.2% vs 2021
2023: €722k▲ +0.8% vs 2022highest in 5 years
2024: €-3.08M▼ -527% vs 2023
2025: €-6.42M▼ -108% vs 2024lowest in 5 years
Operating result€18k-€-5k€-8k▼ 55.6%€-6k▲ 25.4%€-8k▼ 49.5%
2021: €18khighest in 5 years
2022: €-5k▼ -127% vs 2021
2023: €-8k▼ -55.6% vs 2022
2024: €-6k▲ +25.4% vs 2023
2025: €-8k▼ -49.5% vs 2024lowest in 5 years
Net result€-1k-€1k€5k▲ 348%€-3.80M€-3.34M▲ 12.2%
2021: €-1k
2022: €1k▲ +204% vs 2021
2023: €5k▲ +348% vs 2022highest in 5 years
2024: €-3.80M▼ -69502% vs 2023lowest in 5 years
2025: €-3.34M▲ +12.2% vs 2024
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €8k in 2025 against €6k in 2024; the loss grows and 2025 has the lowest result in the available series.
Key figures and ratios
Solvency
-79.6%▼
2024 · -20.9%
Current ratio
0.58▼
2024 · 0.85
Debt to equity
-2.26▲
2024 · -5.78
ROA
-41.4%▼
2024 · -25.8%
Debt
€14.48M▼
2024 · €17.80M
Debt ≤ 1 year
€13.82M▼
2024 · €17.34M
Income taxes
€159k▲
2024 · €51k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 55 lines
Balance sheet
Code20242025
Assets
Total assets20/58€14.72M€8.06M▼
Current assets29/58€14.72M€8.06M▼
Stocks and contracts in progress3€0€0=
Amounts receivable within one year40/41€3.60M€4.89M▲
Trade receivables40€3.60M€3.16M▼
Other amounts receivable41€2k€1.74M▲
Cash at bank and in hand54/58€9.48M€335k▼
Deferred charges and accrued income490/1€1.64M€2.83M▲
Equity and liabilities
Total equity and liabilities10/49€14.72M€8.06M▼
Equity10/15€-3.08M€-6.42M▼
Contributions10/11€720k€720k=
Capital10€720k€720k=
Issued capital100€720k€720k=
Reserves13€88€88=
Non-distributable reserves130/1€88€88=
Legal reserve130€88€88=
Profit (loss) carried forward14€-3.80M€-7.14M▼
Amounts payable17/49€17.80M€14.48M▼
Amounts payable within one year42/48€17.34M€13.82M▼
Current portion of amounts payable after more than one year42€3.03M€3.02M▼
Financial debts43€3k€0▼
Credit institutions430/8€3k€0▼
Trade debts44€4.84M€5.52M▲
Suppliers440/4€4.84M€5.52M▲
Advances received on contracts in progress46€9.07M€5.00M▼
Taxes, remuneration and social security45€409k€283k▼
Taxes450/3€409k€283k▼
Accrued charges and deferred income492/3€464k€660k▲
Income statement
Code20242025
Operating income70/76A€14.03M€23.44M▲
Change in stocks of work in progress, finished goods and contracts in progress71€13.65M€23.29M▲
Other operating income74€374k€147k▼
Operating charges60/66A€14.03M€23.45M▲
Goods for resale, raw materials and consumables60€13.65M€23.29M▲
Purchases600/8€13.65M€23.29M▲
Services and other goods61€382k€154k▼
Other operating charges640/8€1k€1k▲
Operating profit (loss)9901€-6k€-8k▼
Financial income75/76B€210k€610k▲
Recurring financial income75€210k€610k▲
Income from current assets751€210k€608k▲
Other financial income752/9€0€2k▲
Financial charges65/66B€3.96M€3.78M▼
Recurring financial charges65€3.96M€3.78M▼
Debt charges650€10€0▼
Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals)651€3.96M€3.78M▼
Other financial charges652/9€514€502▼
Profit (loss) for the period before taxes9903€-3.75M€-3.18M▲
Income taxes67/77€51k€159k▲
Taxes670/3€51k€159k▲
Profit (loss) for the period9904€-3.80M€-3.34M▲
Profit (loss) for the period to be appropriated9905€-3.80M€-3.34M▲
Appropriation of the result
Profit (loss) to be appropriated9906€-3.80M€-7.14M▼
Profit (loss) brought forward from the previous period14P€1k€-3.80M▼
Transfer to equity691/2€0-
To the legal reserve6920€0-
The notes to these accounts (30 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | €426k | - | - | €14.03M | €23.44M | ▲ 67.1% |
| Change in stocks of work in progress, finished goods and contracts in progress71 | €426k | - | - | €13.65M | €23.29M | ▲ 70.6% |
| Other operating income74 | €0 | - | - | €374k | €147k | ▼ 60.8% |
| Operating charges60/66A | €408k | - | - | €14.03M | €23.45M | ▲ 67.1% |
| Goods, raw materials, services and sundry goods60/61 | - | - | €8.34M | - | - | - |
| Goods for resale, raw materials and consumables60 | €404k | - | - | €13.65M | €23.29M | ▲ 70.6% |
| Purchases600/8 | €404k | - | - | €13.65M | €23.29M | ▲ 70.6% |
| Services and other goods61 | €3k | - | - | €382k | €154k | ▼ 59.6% |
| Other operating charges640/8 | €979 | €1k | €1k | €1k | €1k | ▲ 3.0% |
| Gross operating margin9900 | - | €-4k | €-6k | - | - | - |
| Operating profit (loss)9901 | €18k | €-5k | €-8k | €-6k | €-8k | ▼ 49.5% |
| Financial income75/76B | €3k | €10k | €15k | €210k | €610k | ▲ 190% |
| Recurring financial income75 | €3k | €10k | €15k | €210k | €610k | ▲ 190% |
| Income from current assets751 | €3k | - | - | €210k | €608k | ▲ 189% |
| Other financial income752/9 | €10 | - | - | €0 | €2k | - |
| Financial charges65/66B | €22k | €4k | €1k | €3.96M | €3.78M | ▼ 4.4% |
| Recurring financial charges65 | €22k | €4k | €1k | €3.96M | €3.78M | ▼ 4.4% |
| Debt charges650 | €22k | - | - | €10 | €0 | ▼ 100% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals)651 | - | - | - | €3.96M | €3.78M | ▼ 4.4% |
| Other financial charges652/9 | €253 | - | - | €514 | €502 | ▼ 2.3% |
| Profit (loss) for the period before taxes9903 | €-1k | €1k | €6k | €-3.75M | €-3.18M | ▲ 15.3% |
| Income taxes67/77 | - | - | €469 | €51k | €159k | ▲ 210% |
| Taxes670/3 | - | - | - | €51k | €159k | ▲ 210% |
| Profit (loss) for the period9904 | €-1k | €1k | €5k | €-3.80M | €-3.34M | ▲ 12.2% |
| Profit (loss) for the period to be appropriated9905 | €-1k | €1k | €5k | €-3.80M | €-3.34M | ▲ 12.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.61M | €3.46M | €7.91M | €14.72M | €8.06M | ▼ 45.2% |
| Current assets29/58 | €2.61M | €3.46M | €7.91M | €14.72M | €8.06M | ▼ 45.2% |
| Stocks and contracts in progress3 | €2.14M | €1.54M | €0 | €0 | €0 | - |
| Stocks30/36 | €2.14M | €1.54M | €0 | - | - | - |
| Property held for sale35 | €2.14M | - | - | - | - | - |
| Amounts receivable within one year40/41 | €54k | €285k | €712k | €3.60M | €4.89M | ▲ 35.8% |
| Trade receivables40 | €6k | €44k | €314k | €3.60M | €3.16M | ▼ 12.3% |
| Other amounts receivable41 | €48k | €241k | €399k | €2k | €1.74M | ▲ 78,870% |
| Cash at bank and in hand54/58 | €52k | €81k | €5.59M | €9.48M | €335k | ▼ 96.5% |
| Deferred charges and accrued income490/1 | €363k | €1.55M | €1.61M | €1.64M | €2.83M | ▲ 72.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.61M | €3.46M | €7.91M | €14.72M | €8.06M | ▼ 45.2% |
| Equity10/15 | €715k | €716k | €722k | €-3.08M | €-6.42M | ▼ 108% |
| Contributions10/11 | €720k | €720k | €720k | €720k | €720k | = |
| Capital10 | €720k | €720k | €720k | €720k | €720k | = |
| Issued capital100 | €720k | €720k | €720k | €720k | €720k | = |
| Reserves13 | €13 | €13 | €88 | €88 | €88 | = |
| Non-distributable reserves130/1 | €13 | €13 | €88 | €88 | €88 | = |
| Legal reserve130 | €13 | €13 | €88 | €88 | €88 | = |
| Profit (loss) carried forward14 | €-5k | €-4k | €1k | €-3.80M | €-7.14M | ▼ 87.8% |
| Amounts payable17/49 | €1.90M | €2.74M | €7.19M | €17.80M | €14.48M | ▼ 18.7% |
| Amounts payable after more than one year17 | €1.20M | €0 | - | - | - | - |
| Financial debts170/4 | €1.20M | €0 | - | - | - | - |
| Other loans174 | €1.20M | - | - | - | - | - |
| Amounts payable within one year42/48 | €449k | €2.65M | €6.92M | €17.34M | €13.82M | ▼ 20.3% |
| Current portion of amounts payable after more than one year42 | - | - | €3.03M | €3.03M | €3.02M | ▼ 0.2% |
| Financial debts43 | €12k | €0 | - | €3k | €0 | ▼ 100% |
| Credit institutions430/8 | €12k | €0 | - | €3k | €0 | ▼ 100% |
| Trade debts44 | €160k | €992k | €1.86M | €4.84M | €5.52M | ▲ 14.1% |
| Suppliers440/4 | €160k | €992k | €1.86M | €4.84M | €5.52M | ▲ 14.1% |
| Advances received on contracts in progress46 | - | - | €1.93M | €9.07M | €5.00M | ▼ 44.9% |
| Taxes, remuneration and social security45 | - | - | €116k | €409k | €283k | ▼ 30.6% |
| Taxes450/3 | - | - | €116k | €409k | €283k | ▼ 30.6% |
| Other amounts payable47/48 | €278k | €1.66M | €0 | - | - | - |
| Accrued charges and deferred income492/3 | €247k | €86k | €267k | €464k | €660k | ▲ 42.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-1k | €1k | €5k | €-3.80M | €-3.34M | ▲ 12.2% |
| Operating cash flow (approximation) | €-1k | €1k | €5k | €-3.80M | €-3.34M | ▲ 12.2% |
| Change in cash | - | €29k | €5.51M | €3.89M | €-9.14M | ▼ 335% |
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
02-06
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 28 days late
2024
31-12
Financial
Weakest financial yearnet €-3.80M
Net result drops to €-3.80M, the lowest in the series; recovery starts the following year.
05-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Highest result since 2018net €5k ▲348%
Net result €5k, the highest in the series.
08-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Back to profitnet €1k
Net result €1k after one loss-making year.
08-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
01-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Back to profitnet €2k
Net result €2k after one loss-making year.
31-12
Financial
Equity above €500kEq €716k ▲311%
Equity rises from €174k to €716k.
14-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
06-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 10 acts read
About the unread acts
We know of 10 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
10 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, Waregem · 1 establishment unit since 2017
Ground area
1.1 ha
Building footprint
581 m²
Volume, LiDAR
520 m³
Parcel 34452B1150/00A000, Flanders · tallest building 5.1 m. Linked by address, not a title deed.
141
companies at this address
See who is registered here
1 establishment unit
Panquin Construct NV
since 20172.272.541.734
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34452B1150/00A000 | Flanders | 1.1 ha | 1 · 581 m² | 5.1 m |
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.
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Of 9,693 companies in sector 68121 we hold annual accounts for 7,385. 4,340 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded12-12-2017
Fiscal year end31-12
Abbreviation NL
PQC
Activities, NACEBEL 2025
68121Development of residential building projects
82990Other business support services
Scores and ratios are computed by Checked and are not a credit decision.