PAUWELS
ActivePAUWELS has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.09M and a net result of €650k. Equity is growing by ~52.8% per year across the filed fiscal years. Its solvency ranks better than 79% of 7778 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
81
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability96▼-4
Solvency95▼-5
Growth78=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €160k at 30 days acceptable
Liquidity ample (current ratio 8.48 against 5.38 in 2024; short-term debt: 10.3% and cash: 16.8% of total assets), and 29.7% 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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Sector 43
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
70.3%
Return on assets
21.8%
Age of the figures
9 mo
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
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 10-04-2026, 112 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
112 d early
2024
29 d early
2023
12 d early
2022
12 d early
2021
23 d early
2020
15 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
23-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€2.09M▲ 45.0%
2024 · €1.44M
2018: €131k
2019: €168k
2020: €185k
2021: €280k
2022: €471k
2023: €891k
2024: €1.44M
2018 → 2025
Total assets
€2.98M▲ 57.8%
2024 · €1.89M
2018: €408k
2019: €490k
2020: €578k
2021: €783k
2022: €989k
2023: €1.38M
2024: €1.89M
2018 → 2025
Net result
€650k▲ 17.5%
2024 · €553k
2018: €34k
2019: €37k
2020: €17k
2021: €95k
2022: €191k
2023: €420k
2024: €553k
2018 → 2025
Working capital
€2.29M▲ 88.0%
2024 · €1.22M
2018: €184k
2019: €117k
2020: €194k
2021: €275k
2022: €394k
2023: €746k
2024: €1.22M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€280k-€471k▲ 68.3%€891k▲ 89.1%€1.44M▲ 62.1%€2.09M▲ 45.0%
Operating result€150k-€290k▲ 93.2%€561k▲ 93.2%€738k▲ 31.4%€873k▲ 18.3%
Net result€95k-€191k▲ 100%€420k▲ 120%€553k▲ 31.8%€650k▲ 17.5%
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 has risen four years in a row; 2025 is 18% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.98M
Fixed assets
€385k▼ 1.8%
Current assets
€2.60M▲ 73.5%
Equity and liabilities €2.98M
Equity
€2.09M▲ 45.0%
Debt
€886k▲ 99.6%
The debt ratio rises from 23.5% to 29.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€1.00M▲
2024 · €853k
Cash flow
€780k▲
2024 · €668k
Solvency
70.3%▼
2024 · 76.5%
Current ratio
8.48▲
2024 · 5.38
Quick ratio
8.05▲
2024 · 5.07
Debt / equity
0.42▲
2024 · 0.31
ROE
31.0%▼
2024 · 38.3%
ROA
21.8%▼
2024 · 29.3%
Interest coverage
94.38▲
2024 · 65.88
Debt
€886k▲
2024 · €444k
Debt ≤ 1 year
€306k▲
2024 · €278k
Debt > 1 year
€149k▼
2024 · €164k
Income taxes
€222k▲
2024 · €190k
Staff costs
€1.00M▲
2024 · €847k
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€1.89M€2.98M▲
Fixed assets21/28€392k€385k▼
Intangible fixed assets21€7k€4k▼
Tangible fixed assets22/27€385k€381k▼
Land and buildings22€9k€7k▼
Plant, machinery and equipment23€63k€71k▲
Furniture and vehicles24€313k€303k▼
Financial fixed assets28€165€165=
Current assets29/58€1.50M€2.60M▲
Stocks and contracts in progress3€86k€130k▲
Stocks30/36€39k€38k▼
Contracts in progress37€48k€92k▲
Amounts receivable within one year40/41€776k€1.46M▲
Trade receivables40€654k€1.29M▲
Other amounts receivable41€122k€168k▲
Current investments50/53€253k€503k▲
Cash at bank and in hand54/58€333k€501k▲
Deferred charges and accrued income490/1€48k€6k▼
Equity and liabilities
Total equity and liabilities10/49€1.89M€2.98M▲
Equity10/15€1.44M€2.09M▲
Contributions10/11€19k€19k=
Reserves13€1.43M€2.08M▲
Distributable reserves133€1.43M€2.08M▲
Profit (loss) carried forward14€0€-2k▼
Amounts payable17/49€444k€886k▲
Amounts payable after more than one year17€164k€149k▼
Financial debts170/4€164k€149k▼
Amounts payable within one year42/48€278k€306k▲
Current portion of amounts payable after more than one year42€69k€81k▲
Trade debts44€132k€188k▲
Suppliers440/4€132k€188k▲
Taxes, remuneration and social security45€71k€32k▼
Taxes450/3€35k€9k▼
Remuneration and social security454/9€36k€22k▼
Other amounts payable47/48€7k€7k▼
Accrued charges and deferred income492/3€1k€431k▲
Income statement
Code20242025
Non-recurring operating income76A€0-
Remuneration, social security and pensions62€847k€1.00M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€115k€130k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€0-
Other operating charges640/8€5k€6k▲
Gross operating margin9900€1.70M€2.01M▲
Operating profit (loss)9901€738k€873k▲
Financial income75/76B€18k€10k▼
Recurring financial income75€18k€10k▼
Financial charges65/66B€13k€11k▼
Recurring financial charges65€13k€11k▼
Profit (loss) for the period before taxes9903€743k€872k▲
Income taxes67/77€190k€222k▲
Profit (loss) for the period9904€553k€650k▲
Profit (loss) for the period to be appropriated9905€553k€650k▲
Appropriation of the result
Profit (loss) to be appropriated9906€701k€650k▼
Profit (loss) brought forward from the previous period14P€148k€0▼
Transfer to equity691/2€701k€652k▼
To other reserves6921€701k€652k▼
Social balance
Average headcount (FTE)908713.415.8▲
The notes to these accounts (16 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
10-04
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Highest result since 2018net €650k ▲17.5%
Operating result €873k, net result €650k, both a record.
31-12
Financial
Equity above €2MEq €2.09M ▲45%
8 profitable years in a row build equity to €2.09M.
02-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Equity above €1MEq €1.44M ▲62.1%
7 profitable years in a row build equity to €1.44M.
19-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Equity above €500kEq €891k ▲89.1%
6 profitable years in a row build equity to €891k.
19-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
08-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Equity above €200kEq €280k ▲51.6%
4 profitable years in a row build equity to €280k.
16-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Weakest financial yearnet €17k ▼54.9%
Net result drops to €17k, the lowest in the series; recovery starts the following year.
17-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Equity above €150kEq €168k ▲28.4%
2 profitable years in a row build equity to €168k.
19-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
20-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
31-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro 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, Lokeren · 2 establishment units since 2013
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.
Spinnerslaan 129160 LokerenGround area
6,223 m²
Building footprint
2,316 m²
Volume, LiDAR
12,484 m³
2 parcels, Flanders · tallest building 7.7 m, ±2 floors. Linked by address, not a title deed.
2 establishment units
PAUWELS
since 20132.216.640.832
PAUWELS
since 20192.329.066.208
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46014A1058/00G000 | Flanders | 5,685 m² | 1 · 2,212 m² | 6.2 m · 2 fl. |
| 46014A1573/00B000 | Flanders | 537 m² | 1 · 103 m² | 7.7 m · 2 fl. |
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.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 5 entries · 4,117 EUR awarded · 4,406 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 1,268 EUR | 1,268 EUR |
| 2024 | 1 | 1,500 EUR | 1,500 EUR |
| 2023 | 1 | 167 EUR | 513 EUR |
| 2022 | 2 | 1,182 EUR | 1,125 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Stagebonus (stopgezet)
Recognitions · licences · registrations
Recognised contractor
3 categoriesPAUWELS BV45681
Dual-learning approval
7 live approvals · 7 endedBrandertechnicus gas/stookolie duaal (so)
Installateur elektrotechnische basiscomponenten duaal (so)
Monteur sanitaire en verwarmingsinstallaties duaal (so)
Sanitaire en verwarmingsinstallaties duaal (so)
Technicus installatietechnieken (vwo)
Technicus installatietechnieken duaal (so)
Show 1 more
Vakman installatietechnieken (vwo)
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Of 7,042 companies in sector 43221 we hold annual accounts for 3,471. 926 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded05-02-2013
Fiscal year end31-12
Activities, NACEBEL
43221Plumbing work
43222Installation of electric heating, air conditioning, cooling and ventilation
31002Manufacture of furniture
43211General electrical installation work
Sources
Crossroads Bank for EnterprisesNational Bank · 13 filingsAddress and cadastre registers
Data from official sources, last processed on 23-09-2026. Scores and ratios are computed by Checked and are not a credit decision.