PARDEL
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 22-06-2026 at the NBB all 31 filings
Turnover
€364,354▼ 8.2%
2020 · €397,024
EBIT margin
1.3%▼ 19.7pp
2020 · 21.0%
Net result
-€251,017
2024 · €8,996
Working capital
-€6.6m▼ 23.8%
2024 · -€5.3m
In the rankings
#3 company by total assets in Braine-l'Alleud, Real estate sector#8 company by equity in Braine-l'Alleud, Real estate sector
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
no figure
2025
20182025
Operating result
-€117,315
2025
20182025
Net result
-€251,017
2025
lowest quarter of the sector
20182025
EBIT margin
no figure
2025
20182025
Equity
€2.0m
▼ 11.2%
2025
highest quarter of the sector
20182025
Total assets
€15.4m
▲ 2.1%
2025
highest quarter of the sector
20182025
Debt
€13.4m
▲ 4.5%
2025
20182025
Working capital
-€6.6m
▼ 23.8%
2025
lowest quarter of the sector
20182025
Solvency
12.9%
▼ 1.9pp
2025
middle half of the sector
20182025
Current ratio
0.06
▼ 0.08
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
-1.6%
▼ 1.7pp
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€0.4m-€0.4m▲ 5.6%€0.4m▼ 4.1%€0.4m▼ 8.2%
Operating result€0.09m-€0.1m▲ 23.3%€0.08m▼ 25.2%€0.005m▼ 94.5%€0.1m▲ 22×€0.003m▼ 96.7%€0.05m▲ 14×-€0.1m
Net result€0.09m-€0.1m▲ 27.7%€0.08mwithin the sector's middle half▼ 26.0%€0.004mwithin the sector's middle half▼ 94.9%€0.1mabove the sector's middle half▲ 24×-€0.002mwithin the sector's middle half€0.009mwithin the sector's middle half-€0.3mbelow the sector's middle half
EBIT margin23.0%-26.9%▲ 3.8pp21.0%▼ 5.9pp1.3%▼ 19.7pp
Equity-€2.0m--€1.8m▲ 5.6%-€1.8mbelow the sector's middle half▲ 4.4%-€1.8mbelow the sector's middle half▲ 0.2%€2.2mabove the sector's middle half€2.2mabove the sector's middle half▼ 0.1%€2.2mabove the sector's middle half▲ 0.4%€2.0mabove the sector's middle half▼ 11.2%
Total assets€7.9m-€7.9m▲ 0.5%€7.9mwithin the sector's middle half▼ 0.8%€7.7mwithin the sector's middle half▼ 2.5%€12.1mabove the sector's middle half▲ 57.0%€12.0mabove the sector's middle half▼ 1.0%€15.0mabove the sector's middle half▲ 25.8%€15.4mabove the sector's middle half▲ 2.1%
Debt€9.9m-€9.8m▼ 0.7%€9.7m▼ 1.5%€9.5m▼ 2.1%€9.8m▲ 4.2%€9.7m▼ 1.2%€12.8m▲ 31.6%€13.4m▲ 4.5%
Working capital-€3.3m--€3.1m▲ 7.0%-€2.8mbelow the sector's middle half▲ 8.0%-€2.6mbelow the sector's middle half▲ 6.8%-€5.4mbelow the sector's middle half▼ 107%-€5.3mbelow the sector's middle half▲ 3.2%-€5.3mbelow the sector's middle half▼ 1.4%-€6.6mbelow the sector's middle half▼ 23.8%
Solvency-24.8%--23.3%▲ 1.5pp-22.4%below the sector's middle half▲ 0.8pp-22.9%below the sector's middle half▼ 0.5pp18.5%within the sector's middle half▲ 41.4pp18.6%within the sector's middle half▲ 0.2pp14.9%within the sector's middle half▼ 3.8pp12.9%within the sector's middle half▼ 1.9pp
Current ratio0.44-0.47▲ 0.030.50within the sector's middle half▲ 0.030.52within the sector's middle half▲ 0.020.07below the sector's middle half▼ 0.450.08below the sector's middle half▲ 0.010.14below the sector's middle half▲ 0.070.06below the sector's middle half▼ 0.08
Return on assets (ROA)1.1%-1.4%▲ 0.3pp1.0%within the sector's middle half▼ 0.4pp0.1%within the sector's middle half▼ 1.0pp0.8%within the sector's middle half▲ 0.8pp0.0%within the sector's middle half▼ 0.9pp0.1%within the sector's middle half▲ 0.1pp-1.6%within the sector's middle half▼ 1.7pp
above
within
below
The sector band is the middle half of the companies in Real estate activities (NACE 68). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a loss of €117,315, after a profit of €45,580 in 2024. It is the lowest result since 2021.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €15.4m
Fixed assets
€14.9m ▲ 5.4%
Current assets
€458,024 ▼ 49.0%
Equity and liabilities €15.4m
Equity
€2.0m ▼ 11.2%
Debt
€13.4m ▲ 4.5%
Debt's share of the balance-sheet total rises from 85.1% to 87.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€126,937▲
2024 · €70,621
Cash flow
-€6,765▼
2024 · €34,037
Debt to equity
6.73▲
2024 · 5.72
ROE
-12.6%▼
2024 · 0.4%
Interest coverage
0.95▼
2024 · 1.93
Debt ≤ 1 year
€7.1m▲
2024 · €6.2m
Debt > 1 year
€6.3m▼
2024 · €6.6m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2025 |
|---|---|
| Employees at the balance-sheet date | 0 |
| full-time | 0 |
| part-time | 0 |
Source: social balance sheet in the 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €139,068 | €25,432 | - | €21,493 |
| Financial fixed assets | - | €3.0m | - | - | €983,259 |
| Depreciation and write-downs of the year | €186,926 | €200,833 | €202,377 | €25,041 | €244,252 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €364,354 | - | - | - | - | - |
| Turnover70 | €391,690 | €413,788 | €397,024 | €364,354 | - | - | - | - | - |
| Operating charges60/66A | - | - | - | €359,740 | - | - | - | - | - |
| Services and other goods61 | - | - | - | €70,844 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €184,233 | €184,392 | €186,926 | €186,926 | €200,833 | €202,377 | €25,041 | €244,252 | ▲ 875% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €50,000 | - | - | - | - | - |
| Other operating charges640/8 | - | - | - | €51,969 | €53,236 | €0 | €1,018 | €4,407 | ▲ 333% |
| Operating charges capitalised as restructuring costs649 | - | - | - | - | - | - | €0 | - | - |
| Non-recurring operating charges66A | - | - | - | - | - | -€387 | - | - | - |
| Gross operating margin9900 | - | - | - | - | €356,919 | €205,349 | €71,639 | €131,344 | ▲ 83.3% |
| Operating profit (loss)9901 | €90,224 | €111,223 | €83,182 | €4,613 | €102,850 | €3,359 | €45,580 | -€117,315 | - |
| Financial income75/76B | - | - | - | - | - | €1 | €41 | €0 | ▼ 99.4% |
| Recurring financial income75 | €120 | €180 | - | - | - | €1 | €41 | €0 | ▼ 99.4% |
| Financial charges65/66B | - | - | - | €397 | €1,047 | €4,968 | €36,625 | €133,703 | ▲ 265% |
| Recurring financial charges65 | €2,427 | €365 | €230 | €397 | €1,047 | €4,968 | €36,625 | €133,703 | ▲ 265% |
| Debt charges650 | €2,427 | €365 | €230 | €397 | - | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €86,708 | €110,698 | €81,827 | €4,217 | €101,803 | -€1,608 | €8,996 | -€251,017 | - |
| Income taxes67/77 | €36 | €54 | -€54 | - | - | - | - | - | - |
| Profit (loss) for the period9904 | €86,672 | €110,644 | €81,881 | €4,217 | €101,803 | -€1,608 | €8,996 | -€251,017 | - |
| Profit (loss) for the period to be appropriated9905 | €86,672 | €110,644 | €81,881 | €4,217 | €101,803 | -€1,608 | €8,996 | -€251,017 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €7.9m | €7.9m | €7.9m | €7.7m | €12.1m | €12.0m | €15.0m | €15.4m | ▲ 2.1% |
| Fixed assets21/28 | €5.3m | €5.2m | €5.1m | €4.9m | €11.7m | €11.5m | €14.1m | €14.9m | ▲ 5.4% |
| Tangible fixed assets22/27 | €3.2m | €3.1m | €2.9m | €2.7m | €6.5m | €6.4m | €6.5m | €6.2m | ▼ 3.4% |
| Land and buildings22 | - | - | - | €2.7m | €6.5m | €6.4m | €6.4m | €6.2m | ▼ 3.4% |
| Plant, machinery and equipment23 | - | - | - | €0.02m | - | - | €0.006m | €0.004m | ▼ 20.3% |
| Furniture and vehicles24 | - | - | - | - | - | €0.005m | €0.01m | €0.007m | ▼ 27.0% |
| Financial fixed assets28 | €2.1m | €2.2m | €2.2m | €2.2m | €5.1m | €5.1m | €7.7m | €8.7m | ▲ 12.8% |
| Affiliated companies280/1 | - | - | - | €1.8m | - | - | - | - | - |
| Participating interests280 | - | - | - | €0.9m | - | - | - | - | - |
| Amounts receivable281 | - | - | - | €0.9m | - | - | - | - | - |
| Other financial fixed assets284/8 | - | - | - | €0.4m | - | - | - | - | - |
| Shares284 | - | - | - | €0.4m | - | - | - | - | - |
| Current assets29/58 | €2.6m | €2.7m | €2.8m | €2.8m | €0.4m | €0.4m | €0.9m | €0.5m | ▼ 49.0% |
| Amounts receivable after more than one year29 | - | - | - | €0.04m | - | - | - | - | - |
| Other amounts receivable291 | - | - | - | €0.04m | - | - | - | - | - |
| Amounts receivable within one year40/41 | €2.4m | €2.7m | €2.8m | €2.8m | €0.4m | €0.4m | €0.4m | €0.4m | ▼ 12.2% |
| Trade receivables40 | - | - | - | €0.005m | €0.04m | €0.2m | €0.1m | €0.2m | ▲ 11.1% |
| Other amounts receivable41 | - | - | - | €2.8m | €0.3m | €0.2m | €0.3m | €0.2m | ▼ 23.6% |
| Current investments50/53 | €0.02m | - | - | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €0.001m | €0.003m | €0.01m | €0.002m | €0.02m | €0.05m | €0.5m | €0.08m | ▼ 82.9% |
| Deferred charges and accrued income490/1 | - | - | - | - | €0.002m | - | - | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €7.9m | €7.9m | €7.9m | €7.7m | €12.1m | €12.0m | €15.0m | €15.4m | ▲ 2.1% |
| Equity10/15 | -€2.0m | -€1.8m | -€1.8m | -€1.8m | €2.2m | €2.2m | €2.2m | €2.0m | ▼ 11.2% |
| Contributions10/11 | €20.1m | €20.1m | €20.1m | €20.1m | €20.1m | €20.1m | €20.1m | €20.1m | = |
| Capital10 | - | - | - | €20.1m | €20.1m | €20.1m | €20.1m | €20.1m | = |
| Issued capital100 | - | - | - | €20.1m | €20.1m | €20.1m | €20.1m | €20.1m | = |
| Revaluation surpluses12 | - | - | - | - | €3.9m | €3.9m | €3.9m | €3.7m | ▼ 4.0% |
| Reserves13 | - | - | - | - | - | - | - | €0.2m | - |
| Distributable reserves133 | - | - | - | - | - | - | - | €0.2m | - |
| Profit (loss) carried forward14 | -€22.0m | -€21.9m | -€21.8m | -€21.8m | -€21.7m | -€21.7m | -€21.7m | -€22.0m | ▼ 1.2% |
| Amounts payable17/49 | €9.9m | €9.8m | €9.7m | €9.5m | €9.8m | €9.7m | €12.8m | €13.4m | ▲ 4.5% |
| Amounts payable after more than one year17 | €4.0m | €4.0m | €4.0m | €4.0m | €4.0m | €4.0m | €6.6m | €6.3m | ▼ 3.9% |
| Financial debts170/4 | - | - | - | €4.0m | €4.0m | €4.0m | €6.5m | €6.3m | ▼ 3.9% |
| Subordinated loans170 | - | - | - | €4.0m | - | - | - | - | - |
| Other amounts payable178/9 | - | - | - | - | - | €0.001m | €0.001m | €0.001m | = |
| Amounts payable within one year42/48 | €5.9m | €5.8m | €5.7m | €5.5m | €5.8m | €5.7m | €6.2m | €7.1m | ▲ 13.3% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | - | - | €0.002m | €0.01m | ▲ 400% |
| Financial debts43 | - | - | - | - | €184 | €300 | - | - | - |
| Credit institutions430/8 | - | - | - | - | €184 | €300 | - | - | - |
| Trade debts44 | €0.1m | €0.2m | €0.2m | €0.2m | €0.1m | €0.09m | €0.2m | €0.3m | ▲ 27.7% |
| Suppliers440/4 | - | - | - | €0.2m | €0.1m | €0.09m | €0.2m | €0.3m | ▲ 27.7% |
| Taxes, remuneration and social security45 | - | - | - | - | - | - | - | €0.002m | - |
| Taxes450/3 | - | - | - | - | - | - | - | €0.002m | - |
| Other amounts payable47/48 | - | - | - | €5.3m | €5.7m | €5.6m | €6.0m | €6.8m | ▲ 12.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.09m | €0.1m | €0.08m | €0.004m | €0.1m | -€0.002m | €0.009m | -€0.3m | - |
| + Depreciation and write-downs630 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.03m | €0.2m | ▲ 875% |
| Operating cash flow (approximation) | €0.3m | €0.3m | €0.3m | €0.2m | €0.3m | €0.2m | €0.03m | -€0.007m | - |
| Investment in fixed assets (approximation) | - | -€0.06m | -€0.02m | €0 | -€7.0m | -€0.03m | -€2.7m | -€1.0m | ▲ 62.2% |
| Change in cash | - | €0.001m | €0.008m | -€0.009m | €0.02m | €0.03m | €0.4m | -€0.4m | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 31 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 22-06-2026 | 2026-00189163 | |
| 31-12-2024 | micro format | 03-07-2025 | 2025-00230952 | |
| 31-12-2023 | micro format | 23-09-2024 | 2024-00471974 | |
| 31-12-2022 | micro format | 20-12-2023 | 2023-00534582 | |
| 31-12-2021 | full format | 21-06-2022 | 2022-20126857 | |
| 31-12-2020 | full format | 08-07-2021 | 2021-34800472 | |
| 31-12-2019 | full format | 02-07-2020 | 2020-26200263 | |
| 31-12-2018 | full format | 24-06-2019 | 2019-23300023 | |
| 31-12-2017 | full format | 20-06-2018 | 2018-20800276 | |
| 31-12-2016 | full format | 30-06-2017 | 2017-28000598 |