PLUG
ActiveSummary
PLUG has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €1.05M and a net result of €351k. Equity is growing by ~2.8% per year across the filed fiscal years. Its solvency ranks better than 72% of 1410 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability97▲+10
Solvency93▲+7
Growth78=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €95k at 30 days acceptable
Liquidity ample (current ratio 2.96 against 2.7 in 2023; short-term debt: 30.8% and cash: 42.8% of total assets), and 31.6% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Three signals. The signal on the left, the evidence on the right.
−lowers 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
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
68.4%
Return on assets
22.9%
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 25-07-2025, 6 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
6 d early
2023
61 d late
2022
66 d late
2021
30 d late
2020
82 d late
2019
52 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, abbreviated schema
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€1.05M▲ 35.0%
2023 · €777k
2018: €669k
2019: €776k▲ +16.0% vs 2018
2020: €776k● 0.0% vs 2019
2021: €704k▼ -9.4% vs 2020
2022: €660k▼ -6.3% vs 2021lowest in 7 years
2023: €777k▲ +17.8% vs 2022
2024: €1.05M▲ +35.0% vs 2023highest in 7 years
2018 → 2024
Total assets
€1.53M▲ 21.0%
2023 · €1.27M
2018: €1.24M
2019: €1.12M▼ -9.4% vs 2018
2020: €1.11M▼ -0.7% vs 2019
2021: €1.11M▼ -0.5% vs 2020
2022: €1.00M▼ -9.6% vs 2021lowest in 7 years
2023: €1.27M▲ +26.5% vs 2022
2024: €1.53M▲ +21.0% vs 2023highest in 7 years
2018 → 2024
Net result
€351k▲ 95.0%
2023 · €180k
2018: €111k
2019: €107k▼ -3.5% vs 2018lowest in 7 years
2020: €107k● 0.0% vs 2019lowest in 7 years
2021: €125k▲ +16.1% vs 2020
2022: €123k▼ -1.6% vs 2021
2023: €180k▲ +47.0% vs 2022
2024: €351k▲ +95.0% vs 2023highest in 7 years
2018 → 2024
Working capital
€926k▲ 33.0%
2023 · €696k
2018: €423klowest in 7 years
2019: €539k▲ +27.3% vs 2018
2020: €623k▲ +15.7% vs 2019
2021: €594k▼ -4.8% vs 2020
2022: €571k▼ -3.8% vs 2021
2023: €696k▲ +21.8% vs 2022
2024: €926k▲ +33.0% vs 2023highest in 7 years
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€776k-€704k▼ 9.4%€660k▼ 6.3%€777k▲ 17.8%€1.05M▲ 35.0%
2020: €776k
2021: €704k▼ -9.4% vs 2020
2022: €660k▼ -6.3% vs 2021lowest in 5 years
2023: €777k▲ +17.8% vs 2022
2024: €1.05M▲ +35.0% vs 2023highest in 5 years
Operating result€172k-€188k▲ 9.1%€193k▲ 2.8%€287k▲ 48.7%€532k▲ 85.3%
2020: €172klowest in 5 years
2021: €188k▲ +9.1% vs 2020
2022: €193k▲ +2.8% vs 2021
2023: €287k▲ +48.7% vs 2022
2024: €532k▲ +85.3% vs 2023highest in 5 years
Net result€107k-€125k▲ 16.1%€123k▼ 1.6%€180k▲ 47.0%€351k▲ 95.0%
2020: €107klowest in 5 years
2021: €125k▲ +16.1% vs 2020
2022: €123k▼ -1.6% vs 2021
2023: €180k▲ +47.0% vs 2022
2024: €351k▲ +95.0% vs 2023highest in 5 years
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2024 is 85% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.53M
Fixed assets
€136k ▼ 16.6%
Current assets
€1.40M ▲ 26.5%
Equity and liabilities €1.53M
Equity
€1.05M ▲ 35.0%
Provisions
€12k
Debt
€472k ▼ 3.9%
Debt's share of the balance-sheet total falls from 38.7% to 30.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€586k▲
2023 · €331k
Cash flow
€405k▲
2023 · €224k
Current ratio
2.96▲
2023 · 2.70
Debt to equity
0.45▼
2023 · 0.63
ROE
33.5%▲
2023 · 23.2%
ROA
22.9%▲
2023 · 14.2%
Interest coverage
40.19▲
2023 · 18.28
Debt ≤ 1 year
€472k▲
2023 · €409k
Income taxes
€161k▲
2023 · €95k
Staff costs
€798k▲
2023 · €693k
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 · 2024 against 2023 · 57 lines
Balance sheet
Code20232024
Assets
Total assets20/58€1.27M€1.53M▲
Fixed assets21/28€163k€136k▼
Tangible fixed assets22/27€163k€136k▼
Land and buildings22€26k€7k▼
Plant, machinery and equipment23€49k€38k▼
Furniture and vehicles24€5k€12k▲
Other tangible fixed assets26€83k€79k▼
Current assets29/58€1.10M€1.40M▲
Amounts receivable within one year40/41€743k€706k▼
Trade receivables40€518k€652k▲
Other amounts receivable41€225k€54k▼
Current investments50/53€250€250=
Cash at bank and in hand54/58€322k€657k▲
Deferred charges and accrued income490/1€40k€35k▼
Equity and liabilities
Total equity and liabilities10/49€1.27M€1.53M▲
Equity10/15€777k€1.05M▲
Contributions10/11€19k€19k=
Reserves13€759k€1.03M▲
Tax-exempt reserves132€19k€56k▲
Distributable reserves133€740k€975k▲
Provisions and deferred taxes16-€12k
Deferred taxes168-€12k
Amounts payable17/49€491k€472k▼
Amounts payable after more than one year17€82k-
Financial debts170/4€82k-
Amounts payable within one year42/48€409k€472k▲
Current portion of amounts payable after more than one year42€18k-
Trade debts44€263k€151k▼
Suppliers440/4€263k€151k▼
Taxes, remuneration and social security45€128k€320k▲
Taxes450/3€35k€151k▲
Remuneration and social security454/9€93k€169k▲
Income statement
Code20232024
Non-recurring operating income76A€6k€52k▲
Remuneration, social security and pensions62€693k€798k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€44k€54k▲
Other operating charges640/8€3k€3k▲
Gross operating margin9900€1.03M€1.39M▲
Operating profit (loss)9901€287k€532k▲
Financial income75/76B€7k€8k▲
Recurring financial income75€7k€8k▲
Financial charges65/66B€18k€15k▼
Recurring financial charges65€18k€15k▼
Profit (loss) for the period before taxes9903€276k€525k▲
Transfer from deferred taxes780-€641
Transfer to deferred taxes680-€13k
Income taxes67/77€95k€161k▲
Profit (loss) for the period9904€180k€351k▲
Transfer from tax-exempt reserves789-€2k
Transfer to tax-exempt reserves689-€39k
Profit (loss) for the period to be appropriated9905€180k€314k▲
Appropriation of the result
Profit (loss) to be appropriated9906€180k€314k▲
Transfer from equity791/2€63k€79k▲
Transfer to equity691/2€180k€314k▲
To other reserves6921€180k€314k▲
Profit to be distributed694/7€63k€79k▲
Return on contributions (dividend)694€63k€79k▲
Social balance
Average headcount (FTE)908713.314.0▲
The notes to these accounts (10 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €12k | €6k | €52k | ▲ 844% |
| Remuneration, social security and pensions62 | - | €649k | €646k | €693k | €798k | ▲ 15.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €69k | €36k | €40k | €44k | €54k | ▲ 22.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €14k | €-14k | - | - | - |
| Other operating charges640/8 | - | €3k | €17k | €3k | €3k | ▲ 4.4% |
| Gross operating margin9900 | €974k | €890k | €882k | €1.03M | €1.39M | ▲ 35.0% |
| Operating profit (loss)9901 | €172k | €188k | €193k | €287k | €532k | ▲ 85.3% |
| Financial income75/76B | - | €9k | €4k | €7k | €8k | ▲ 15.0% |
| Recurring financial income75 | €12k | €9k | €4k | €7k | €8k | ▲ 15.0% |
| Financial charges65/66B | - | €12k | €12k | €18k | €15k | ▼ 19.5% |
| Recurring financial charges65 | €18k | €12k | €12k | €18k | €15k | ▼ 19.5% |
| Profit (loss) for the period before taxes9903 | €166k | €185k | €185k | €276k | €525k | ▲ 90.5% |
| Transfer from deferred taxes780 | - | - | - | - | €641 | - |
| Transfer to deferred taxes680 | - | - | - | - | €13k | - |
| Income taxes67/77 | €59k | €60k | €62k | €95k | €161k | ▲ 69.1% |
| Profit (loss) for the period9904 | €107k | €125k | €123k | €180k | €351k | ▲ 95.0% |
| Transfer from tax-exempt reserves789 | - | - | - | - | €2k | - |
| Transfer to tax-exempt reserves689 | - | - | - | - | €39k | - |
| Profit (loss) for the period to be appropriated9905 | €107k | €125k | €123k | €180k | €314k | ▲ 74.4% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.11M | €1.11M | €1.00M | €1.27M | €1.53M | ▲ 21.0% |
| Formation expenses20 | €0 | - | - | - | - | - |
| Fixed assets21/28 | €137k | €110k | €88k | €163k | €136k | ▼ 16.6% |
| Intangible fixed assets21 | €2k | - | - | - | - | - |
| Tangible fixed assets22/27 | €136k | €110k | €88k | €163k | €136k | ▼ 16.6% |
| Land and buildings22 | - | €58k | €40k | €26k | €7k | ▼ 74.0% |
| Plant, machinery and equipment23 | - | €46k | €37k | €49k | €38k | ▼ 22.2% |
| Furniture and vehicles24 | - | €6k | €11k | €5k | €12k | ▲ 139% |
| Other tangible fixed assets26 | - | - | - | €83k | €79k | ▼ 4.7% |
| Financial fixed assets28 | €0 | - | - | - | - | - |
| Current assets29/58 | €995k | €998k | €913k | €1.10M | €1.40M | ▲ 26.5% |
| Stocks and contracts in progress3 | €0 | - | - | - | - | - |
| Amounts receivable within one year40/41 | €645k | €608k | €743k | €743k | €706k | ▼ 4.9% |
| Trade receivables40 | - | €430k | €567k | €518k | €652k | ▲ 26.0% |
| Other amounts receivable41 | - | €178k | €176k | €225k | €54k | ▼ 76.0% |
| Current investments50/53 | €0 | €250 | €250 | €250 | €250 | = |
| Cash at bank and in hand54/58 | €491k | €389k | €148k | €322k | €657k | ▲ 104% |
| Deferred charges and accrued income490/1 | - | €1k | €22k | €40k | €35k | ▼ 13.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.11M | €1.11M | €1.00M | €1.27M | €1.53M | ▲ 21.0% |
| Equity10/15 | €776k | €704k | €660k | €777k | €1.05M | ▲ 35.0% |
| Contributions10/11 | - | €19k | €19k | €19k | €19k | = |
| Reserves13 | €758k | €685k | €641k | €759k | €1.03M | ▲ 35.9% |
| Non-distributable reserves130/1 | - | €2k | €2k | - | - | - |
| Reserves not available under the articles1311 | - | €2k | €2k | - | - | - |
| Tax-exempt reserves132 | - | €19k | €19k | €19k | €56k | ▲ 198% |
| Distributable reserves133 | - | €664k | €620k | €740k | €975k | ▲ 31.8% |
| Profit (loss) carried forward14 | €0 | - | - | - | - | - |
| Provisions and deferred taxes16 | - | - | - | - | €12k | - |
| Deferred taxes168 | - | - | - | - | €12k | - |
| Amounts payable17/49 | €372k | €404k | €342k | €491k | €472k | ▼ 3.9% |
| Amounts payable after more than one year17 | - | - | - | €82k | - | - |
| Financial debts170/4 | - | - | - | €82k | - | - |
| Amounts payable within one year42/48 | €372k | €404k | €342k | €409k | €472k | ▲ 15.3% |
| Current portion of amounts payable after more than one year42 | - | - | - | €18k | - | - |
| Trade debts44 | €169k | €222k | €157k | €263k | €151k | ▼ 42.4% |
| Suppliers440/4 | - | €222k | €157k | €263k | €151k | ▼ 42.4% |
| Taxes, remuneration and social security45 | - | €183k | €184k | €128k | €320k | ▲ 151% |
| Taxes450/3 | - | €60k | €72k | €35k | €151k | ▲ 332% |
| Remuneration and social security454/9 | - | €123k | €112k | €93k | €169k | ▲ 82.4% |
| Other amounts payable47/48 | - | - | €2k | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €107k | €125k | €123k | €180k | €351k | ▲ 95.0% |
| + Depreciation and write-downs630 | €69k | €36k | €40k | €44k | €54k | ▲ 22.3% |
| Operating cash flow (approximation) | €176k | €160k | €163k | €224k | €405k | ▲ 80.8% |
| Investment in fixed assets (approximation) | - | €-9k | €-19k | €-118k | €-27k | ▲ 77.4% |
| Change in cash | - | €-103k | €-240k | €174k | €335k | ▲ 92.9% |
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
2025
25-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Highest result since 2018net €351k ▲95%
Operating result €532k, net result €351k, both a record.
31-12
Financial
Equity above €1MEq €1.05M ▲35%
7 profitable years in a row build equity to €1.05M.
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 61 days late
2023
05-10
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 66 days late
2022
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 30 days late
2021
21-10
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 82 days late
2020
21-09
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 52 days late
2019
27-09
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 58 days late
2018
19-09
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 50 days late
2017
19-09
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 50 days late
2016
12-09
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 43 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Roeselare · 1 establishment unit since 2003
Ground area
1,426 m²
Building footprint
201 m²
Volume, LiDAR
1,149 m³
Parcel 36017A1007/00E000, Flanders · tallest building 7.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Sint-Martinusstraat 19, 8800 Roeselare
since 20032.131.475.129
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 36017A1007/00E000 | Flanders | 1,426 m² | 1 · 201 m² | 7.4 m · 2 fl. |
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.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 2 entries · 1,944 EUR awarded · 1,944 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 1,529 EUR | 1,529 EUR |
| 2022 | 1 | 415 EUR | 415 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Identification & contact
Identification
Legal formPrivate limited company
Founded23-04-2003
Fiscal year end31-12
Activities, NACEBEL 2025
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62900Other information technology and computer services
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Scores and ratios are computed by Checked and are not a credit decision.