PAUWELS GLASSPROJECTS
ActiveSummary
PAUWELS GLASSPROJECTS has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.20M and a net result of €30k. Equity is growing by ~7.7% per year across the filed fiscal years. Its solvency ranks better than 63% of 2045 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
62
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability40▼-36
Solvency77▼-1
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €70k at 30 days acceptable
Liquidity ample (current ratio 2.09 against 2.14 in 2024; short-term debt: 47.6% and cash: 12.3% of total assets), and 47.6% of the assets are financed with debt.
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
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
52.4%
Return on assets
1.3%
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 15-07-2026, 16 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
16 d early
2024
31 d early
2023
55 d late
2022
29 d late
2021
26 d late
2020
33 d early
2019
31 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
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€30k▼ 75.9%
2024 · €126k
2018: €65k
2019: €5k
2020: €203k
2021: €244k
2022: €97k
2023: €12k
2024: €126k
2018 → 2025
Working capital
€1.19M▲ 2.4%
2024 · €1.17M
2018: €653k
2019: €655k
2020: €866k
2021: €920k
2022: €1.03M
2023: €1.04M
2024: €1.17M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€935k-€1.03M▲ 10.4%€1.04M▲ 1.1%€1.17M▲ 12.1%€1.20M▲ 2.6%
Operating result€342k-€138k▼ 59.6%€21k▼ 85.0%€178k▲ 759%€22k▼ 87.8%
Net result€244k-€97k▼ 60.2%€12k▼ 88.0%€126k▲ 986%€30k▼ 75.9%
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 88% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.29M
Fixed assets
€8k ▲ 46.8%
Current assets
€2.28M ▲ 4.4%
Equity and liabilities €2.29M
Equity
€1.20M ▲ 2.6%
Debt
€1.09M ▲ 6.6%
Debt's share of the balance-sheet total rises from 46.6% to 47.6%. Equity and debt are higher.
Key figures and ratios
EBITDA
€25k▼
2024 · €181k
Cash flow
€33k▼
2024 · €129k
Current ratio
2.09▼
2024 · 2.14
Quick ratio
1.95▼
2024 · 2.13
Debt to equity
0.91▲
2024 · 0.87
ROE
2.5%▼
2024 · 10.8%
ROA
1.3%▼
2024 · 5.8%
Interest coverage
2.39▼
2024 · 8.76
Debt ≤ 1 year
€1.09M▲
2024 · €1.02M
Income taxes
€372▼
2024 · €47k
Staff costs
€363k▲
2024 · €350k
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 · 50 lines
Balance sheet
Code20242025
Assets
Total assets20/58€2.19M€2.29M▲
Fixed assets21/28€5k€8k▲
Tangible fixed assets22/27€5k€8k▲
Plant, machinery and equipment23€1k€0▼
Furniture and vehicles24€4k€8k▲
Financial fixed assets28€155€155=
Current assets29/58€2.19M€2.28M▲
Stocks and contracts in progress3€11k€159k▲
Contracts in progress37€11k€159k▲
Amounts receivable within one year40/41€2.13M€1.82M▼
Trade receivables40€883k€482k▼
Other amounts receivable41€1.25M€1.34M▲
Cash at bank and in hand54/58€23k€281k▲
Deferred charges and accrued income490/1€25k€26k▲
Equity and liabilities
Total equity and liabilities10/49€2.19M€2.29M▲
Equity10/15€1.17M€1.20M▲
Contributions10/11€75k€75k=
Capital10€75k€75k=
Issued capital100€75k€75k=
Reserves13€608k€608k=
Non-distributable reserves130/1€8k€8k=
Legal reserve130€8k€8k=
Distributable reserves133€600k€600k=
Profit (loss) carried forward14€488k€519k▲
Amounts payable17/49€1.02M€1.09M▲
Amounts payable within one year42/48€1.02M€1.09M▲
Trade debts44€486k€765k▲
Suppliers440/4€486k€765k▲
Advances received on contracts in progress46€442k€246k▼
Taxes, remuneration and social security45€69k€79k▲
Taxes450/3€29k€21k▼
Remuneration and social security454/9€40k€58k▲
Other amounts payable47/48€25k€188▼
Accrued charges and deferred income492/3€188€189▲
Income statement
Code20242025
Remuneration, social security and pensions62€350k€363k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€3k€3k▼
Other operating charges640/8€1k€2k▲
Gross operating margin9900€532k€390k▼
Operating profit (loss)9901€178k€22k▼
Financial income75/76B€16k€19k▲
Recurring financial income75€16k€19k▲
Financial charges65/66B€21k€10k▼
Recurring financial charges65€21k€10k▼
Profit (loss) for the period before taxes9903€173k€31k▼
Income taxes67/77€47k€372▼
Profit (loss) for the period9904€126k€30k▼
Profit (loss) for the period to be appropriated9905€126k€30k▼
Appropriation of the result
Profit (loss) to be appropriated9906€488k€519k▲
Profit (loss) brought forward from the previous period14P€362k€488k▲
Social balance
Average headcount (FTE)90873.84.0▲
The notes to these accounts (15 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
15-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
24-09
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 55 days late
2023
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 29 days late
2022
31-12
Financial
Equity above €1MEq €1.03M ▲10.4%
5 profitable years in a row build equity to €1.03M.
26-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 26 days late
2021
31-12
Financial
Highest result since 2018net €244k ▲20.3%
Operating result €342k, net result €244k, both a record.
28-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
30-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Weakest financial yearnet €5k ▼92.3%
Net result drops to €5k, the lowest in the series; recovery starts the following year.
15-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
03-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
28-03
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Ninove · 1 establishment unit since 2008
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.
Ten Beukeboom(App) 119400 NinoveGround area
5,890 m²
Building footprint
3,168 m²
Volume, LiDAR
22,198 m³
Parcel 41003A0316/00D000, Flanders · tallest building 10.9 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
PAUWELS GLASSPROJECTS
since 20082.174.906.581
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41003A0316/00D000 | Flanders | 5,890 m² | 1 · 3,168 m² | 10.9 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel 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 · 4 entries · 4,169 EUR awarded · 4,169 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 2,123 EUR | 2,123 EUR |
| 2024 | 1 | 159 EUR | 159 EUR |
| 2023 | 1 | 897 EUR | 897 EUR |
| 2022 | 1 | 990 EUR | 990 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Similar companies · same sector, comparable size
VERSCHAETE
BE 0475.033.645
Izegem · Eq €1,201,615
ENTREPRISES DE MENUISERIE DE BAERE FRERES
BE 0421.948.614
Ellezelles · Eq €1,201,895
DEUREN PLESSERS
BE 0872.443.833
Tessenderlo-Ham · Eq €1,202,398
KEUKENS DE ROO
BE 0893.868.559
Aalter · Eq €1,199,533
CARLOS DHONDT
BE 0871.936.958
Gavere · Eq €1,202,984
Of 20,024 companies in sector 43320 we hold annual accounts for 9,135. 3,959 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded22-10-2008
Fiscal year end31-12
Abbreviation NL
GLASSPROJECTS
Activities, NACEBEL 2025
43320Joinery installation
43230Insulation installation
43343Specialised construction activities
Sources
Crossroads Bank for EnterprisesNational Bank · 17 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.