PENNE
ActivePENNE has been active since 1972 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €9.16M and a net result of €2.42M. Equity is growing by ~5.7% per year across the filed fiscal years. Its solvency ranks better than 29% of 760 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2024
69
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability82▲+11
Solvency51▼-1
Growth68▲+13
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €600k at 30 days acceptable
Liquidity ample (current ratio 1.59 against 1.0 in 2023; short-term debt: 32.2% and cash: 5.3% of total assets), but 73.7% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 25
Relative position
BE, all sectors
reference
Sector 25
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 2024Solvency, return and age of the figures
Solvency
26.3%
Return on assets
7%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 23-06-2025, 38 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
38 d early
2023
51 d early
2022
38 d early
2021
17 d early
2020
3 d late
2019
21 d late
← before the deadline
after the deadline →
Financials · fiscal year 2024, full schema
Turnover
€37.88M▼ 8.5%
2023 · €41.41M
2018: €28.04M
2019: €28.90M
2020: €24.05M
2021: €26.28M
2022: €35.04M
2023: €41.41M
2018 → 2024
EBIT margin
9.3%▲ 4.5pp
2023 · 4.8%
2018: 10.0%
2019: 4.4%
2020: 6.1%
2021: 8.2%
2022: 10.7%
2023: 4.8%
2018 → 2024
Net result
€2.42M▲ 99.5%
2023 · €1.21M
2018: €1.96M
2019: €673k
2020: €1.38M
2021: €1.92M
2022: €2.57M
2023: €1.21M
2018 → 2024
Working capital
€6.57M
2023 · €-67k
2018: €1.76M
2019: €117k
2020: €787k
2021: €2.12M
2022: €2.50M
2023: €-67k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Turnover€24.05M-€26.28M▲ 9.3%€35.04M▲ 33.3%€41.41M▲ 18.2%€37.88M▼ 8.5%
Equity€8.41M-€10.33M▲ 22.9%€10.43M▲ 0.9%€9.14M▼ 12.3%€9.16M▲ 0.2%
Operating result€1.47M-€2.15M▲ 46.3%€3.74M▲ 74.1%€1.98M▼ 47.2%€3.51M▲ 77.7%
Net result€1.38M-€1.92M▲ 39.7%€2.57M▲ 33.6%€1.21M▼ 52.8%€2.42M▲ 99.5%
Result per fiscal year
Operating resultNet result
The operating result recovers in 2024; 2024 is 78% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €34.77M
Fixed assets
€17.00M▼ 3.4%
Current assets
€17.78M▲ 8.9%
Equity and liabilities €34.77M
Equity
€9.16M▲ 0.2%
Debt
€25.62M▲ 3.4%
The debt ratio rises from 73.1% to 73.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€6.66M▲
2023 · €4.89M
Cash flow
€5.56M▲
2023 · €4.13M
Solvency
26.3%▼
2023 · 26.9%
Current ratio
1.59▲
2023 · 1.00
Quick ratio
0.90▲
2023 · 0.62
Debt / equity
2.80▲
2023 · 2.71
ROE
26.4%▲
2023 · 13.3%
ROA
7.0%▲
2023 · 3.6%
Interest coverage
20.07▼
2023 · 20.24
Debt
€25.62M▲
2023 · €24.79M
Debt ≤ 1 year
€11.21M▼
2023 · €16.40M
Debt > 1 year
€14.22M▲
2023 · €8.30M
Income taxes
€765k▲
2023 · €504k
Staff costs
€6.66M▲
2023 · €6.18M
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 · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€33.93M€34.77M▲
Fixed assets21/28€17.60M€17.00M▼
Intangible fixed assets21€2.05M€1.48M▼
Tangible fixed assets22/27€15.55M€15.51M▼
Land and buildings22€8.00M€7.57M▼
Plant, machinery and equipment23€2.57M€3.27M▲
Furniture and vehicles24€117k€89k▼
Leasing and similar rights25€4.86M€4.36M▼
Assets under construction and advance payments27-€226k
Current assets29/58€16.33M€17.78M▲
Amounts receivable after more than one year29€15k€10k▼
Other amounts receivable291€15k€10k▼
Stocks and contracts in progress3€6.16M€7.72M▲
Stocks30/36€6.16M€5.42M▼
Raw materials and consumables30/31€2.11M€1.88M▼
Finished goods33€4.05M€3.54M▼
Contracts in progress37-€2.30M
Amounts receivable within one year40/41€6.76M€6.10M▼
Trade receivables40€6.12M€5.54M▼
Other amounts receivable41€634k€557k▼
Current investments50/53-€2.00M
Other investments51/53-€2.00M
Cash at bank and in hand54/58€3.30M€1.84M▼
Deferred charges and accrued income490/1€98k€111k▲
Equity and liabilities
Total equity and liabilities10/49€33.93M€34.77M▲
Equity10/15€9.14M€9.16M▲
Contributions10/11€270k€270k=
Capital10€270k€270k=
Issued capital100€270k€270k=
Reserves13€8.87M€8.89M▲
Non-distributable reserves130/1€27k€27k=
Legal reserve130€27k€27k=
Tax-exempt reserves132€622k€320k▼
Distributable reserves133€8.22M€8.54M▲
Amounts payable17/49€24.79M€25.62M▲
Amounts payable after more than one year17€8.30M€14.22M▲
Financial debts170/4€8.30M€14.22M▲
Leasing and similar obligations172€3.78M€3.46M▼
Credit institutions173€4.52M€10.76M▲
Amounts payable within one year42/48€16.40M€11.21M▼
Current portion of amounts payable after more than one year42€2.14M€3.09M▲
Financial debts43€0-
Credit institutions430/8€0-
Trade debts44€6.35M€4.57M▼
Suppliers440/4€6.35M€4.57M▼
Taxes, remuneration and social security45€1.06M€1.08M▲
Taxes450/3€253k€197k▼
Remuneration and social security454/9€806k€887k▲
Other amounts payable47/48€6.84M€2.47M▼
Accrued charges and deferred income492/3€97k€186k▲
Income statement
Code20232024
Operating income70/76A€42.09M€40.02M▼
Turnover70€41.41M€37.88M▼
Change in stocks of work in progress, finished goods and contracts in progress71€322k€1.78M▲
Other operating income74€355k€340k▼
Non-recurring operating income76A€500€6k▲
Operating charges60/66A€40.11M€36.50M▼
Goods for resale, raw materials and consumables60€22.92M€21.06M▼
Purchases600/8€22.54M€20.83M▼
Change in stocks: decrease (increase)609€378k€226k▼
Services and other goods61€7.90M€5.44M▼
Remuneration, social security and pensions62€6.18M€6.66M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2.92M€3.15M▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€0-
Provisions for liabilities and charges: additions (uses and reversals)635/8-€-2k
Other operating charges640/8€199k€209k▲
Non-recurring operating charges66A€448€63▼
Operating profit (loss)9901€1.98M€3.51M▲
Financial income75/76B€12k€38k▲
Recurring financial income75€12k€37k▲
Income from current assets751-€10k
Other financial income752/9€12k€27k▲
Non-recurring financial income76B-€1k
Financial charges65/66B€270k€365k▲
Recurring financial charges65€270k€365k▲
Debt charges650€242k€332k▲
Other financial charges652/9€29k€33k▲
Profit (loss) for the period before taxes9903€1.72M€3.18M▲
Income taxes67/77€504k€765k▲
Taxes670/3€504k€765k▲
Tax adjustments and reversals of tax provisions77€0-
Profit (loss) for the period9904€1.21M€2.42M▲
Transfer from tax-exempt reserves789€242k€300k▲
Profit (loss) for the period to be appropriated9905€1.45M€2.72M▲
Appropriation of the result
Profit (loss) to be appropriated9906€1.45M€2.72M▲
Transfer from equity791/2€1.05M€0▼
From reserves792€1.05M€0▼
Transfer to equity691/2€0€320k▲
To other reserves6921€0€320k▲
Profit to be distributed694/7€2.50M€2.40M▼
Return on contributions (dividend)694€2.50M€2.40M▼
Social balance
Average headcount (FTE)908799.6103.8▲
The notes to these accounts (94 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2026
28-07
State Gazette act
Resignations & appointmentsGeneral meeting · Auditor appointment · Permanent representative3 facts ▸
State Gazette act
Resignations & appointments
General meeting · Auditor appointment · Permanent representative3 facts ▸
- General meeting, 29/05/2026
- Auditor appointment, EY Bedrijfsrevisoren BV (commissaris)
- Permanent representative, Evelien De Groote
2025
23-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
10-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
23-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Highest result since 2018net €2.57M ▲33.6%
Operating result €3.74M, net result €2.57M, both a record.
14-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Equity above €10MEq €10.33M ▲22.9%
4 profitable years in a row build equity to €10.33M.
03-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 3 days late
2020
21-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 21 days late
2019
31-12
Financial
Weakest financial yearnet €673k ▼65.6%
Net result drops to €673k, the lowest in the series; recovery starts the following year.
26-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 26 days late
2018
27-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
27-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
14-06
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
Location & real-estate footprint
Registered office, Aalst · 1 establishment unit since 1972
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.
Wijngaardveld 329300 AalstGround area
3.5 ha
Building footprint
1.2 ha
Volume, LiDAR
99,193 m³
Parcel 41303D0058/00M000, Flanders · tallest building 30.2 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Wijngaardveld 32, 9300 Aalst
since 19722.007.692.043
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41303D0058/00M000 | Flanders | 3.5 ha | 1 · 1.2 ha | 30.2 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.
Statutory auditor
1 auditor| Ernst et Young Reviseurs d'EntreprisesCurrent Statutory auditor · represented by Evelien De Groote | 28-07-2026 → present |
Public money · subsidies and aid
Flemish government
2022 to 2025 · 8 entries · 183,729 EUR awarded · 183,729 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 3 | 3,110 EUR | 39,136 EUR |
| 2024 | 2 | 690 EUR | 71,690 EUR |
| 2023 | 2 | 178,066 EUR | 71,040 EUR |
| 2022 | 1 | 1,863 EUR | 1,863 EUR |
Schemes
Ontwikkelingsproject
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Vlaamse ondersteuningspremie (VOP) voor werkgevers (uitdovend stelsel)
Similar companies · same sector, comparable size
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VDL KTI
BE 0403.776.158
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SPECIAL MATERIALS AND TECHNOLOGIES
BE 0463.369.790
Tienen · Eq €7.92M
ERAP
BE 0420.819.454
Duffel · Eq €7.88M
PUROLATOR ADVANCED FILTRATION
BE 0430.104.631
Herstal · Eq €7.72M
Of 557 companies in sector 25999 we hold annual accounts for 351. 116 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded19-09-1972
Fiscal year end31-12
Activities, NACEBEL
25402Manufacture of fabricated metal products, except machinery and equipment
25502Manufacture of fabricated metal products, except machinery and equipment
25999Manufacture of fabricated metal products, except machinery and equipment
28402
Sources
Crossroads Bank for EnterprisesNational Bank · 48 filingsAddress and cadastre registers
Data from official sources, last processed on 17-09-2026. Scores and ratios are computed by Checked and are not a credit decision.