PPA-Electronics
ActiveSummary
PPA-Electronics has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.2m and a net result of €1.0m. Equity is growing by ~62.3% per year across the filed fiscal years. Its solvency ranks better than 69% of 8160 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency88▲+26
Growth78=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €180,000 at 30 days acceptable
Liquidity ample (current ratio 2.14 against 1.52 in 2024; short-term debt: 36.2% and cash: 21.2% of total assets), and 36.8% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
63.2%
Return on assets
29.3%
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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 06-08-2026, 6 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
6 d late
2024
116 d late
2023
36 d early
2022
33 d early
2021
11 d late
2020
31 d late
2019
67 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 23 days after the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
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
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€2.2m▲ 86.5%
2024 · €1.2m
Total assets
€3.5m▲ 9.7%
2024 · €3.2m
Net result
€1.0m▲ 25.4%
2024 · €808,659
Working capital
€1.4m▲ 73.1%
2024 · €827,883
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€203,325▲ 136%€669,344▲ 229%€545,894▼ 18.4%€885,131▲ 62.1%€1.2m▲ 36.9%
Net result€123,054within the sector's middle half▲ 163%€617,905above the sector's middle half▲ 402%€731,973above the sector's middle half▲ 18.5%€808,659above the sector's middle half▲ 10.5%€1.0mabove the sector's middle half▲ 25.4%
Equity€273,826within the sector's middle half▲ 81.6%€441,731within the sector's middle half▲ 61.3%€943,704within the sector's middle half▲ 114%€1.2mwithin the sector's middle half▲ 24.2%€2.2mabove the sector's middle half▲ 86.5%
Total assets€1.6mwithin the sector's middle half▲ 41.2%€2.1mwithin the sector's middle half▲ 33.6%€2.2mwithin the sector's middle half▲ 5.2%€3.2mabove the sector's middle half▲ 43.1%€3.5mabove the sector's middle half▲ 9.7%
Debt€1.3m▲ 34.8%€1.7m▲ 27.7%€1.3m▼ 23.8%€2.0m▲ 57.2%€1.3m▼ 35.8%
Working capital€141,076within the sector's middle half▼ 42.7%€418,841within the sector's middle half▲ 197%€838,630within the sector's middle half▲ 100%€827,883within the sector's middle half▼ 1.3%€1.4mabove the sector's middle half▲ 73.1%
Solvency17.4%below the sector's middle half▲ 3.9pp21.1%within the sector's middle half▲ 3.6pp42.8%within the sector's middle half▲ 21.7pp37.1%within the sector's middle half▼ 5.6pp63.2%within the sector's middle half▲ 26.0pp
Current ratio1.19within the sector's middle half▼ 0.101.42within the sector's middle half▲ 0.232.14within the sector's middle half▲ 0.721.52within the sector's middle half▼ 0.622.14within the sector's middle half▲ 0.63
Return on assets (ROA)7.8%within the sector's middle half▲ 3.6pp29.5%above the sector's middle half▲ 21.6pp33.2%above the sector's middle half▲ 3.7pp25.6%above the sector's middle half▼ 7.6pp29.3%above the sector's middle half▲ 3.7pp
Staff (FTE)4.2within the sector's middle half=3.1within the sector's middle half▼ 26.2%4.3within the sector's middle half▲ 38.7%3.9within the sector's middle half▼ 9.3%5.4within the sector's middle half▲ 38.5%
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 37% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.5m
Fixed assets
€775,469 ▲ 6.0%
Current assets
€2.7m ▲ 10.8%
Equity and liabilities €3.5m
Equity
€2.2m ▲ 86.5%
Debt
€1.3m ▼ 35.8%
Debt's share of the balance-sheet total falls from 62.9% to 36.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€1.3m▲
2024 · €937,566
Cash flow
€1.1m▲
2024 · €861,094
Quick ratio
1.77▲
2024 · 1.18
Debt to equity
0.58▼
2024 · 1.69
ROE
46.4%▼
2024 · 69.0%
Interest coverage
62.94▼
2024 · 81.79
Debt ≤ 1 year
€1.3m▼
2024 · €1.6m
Debt > 1 year
€20,833▼
2024 · €387,285
Income taxes
€178,535▲
2024 · €66,254
Staff costs
€428,875▲
2024 · €419,970
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 34,679 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.6%
went bankrupt
3.8%
stopped otherwise
95%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.4% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 34,679 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €2,273 | €0 | - | - | €6,365 | - |
| Remuneration, social security and pensions62 | €516,712 | €239,702 | €360,438 | €419,970 | €428,875 | ▲ 2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €30,818 | €36,322 | €40,197 | €52,435 | €64,809 | ▲ 23.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €12,207 | €7,567 | €21,897 | €36,777 | €46,527 | ▲ 26.5% |
| Other operating charges640/8 | €34,268 | €35,406 | €5,930 | €36,141 | €13,712 | ▼ 62.1% |
| Gross operating margin9900 | €797,331 | €988,341 | €974,356 | €1.4m | €1.8m | ▲ 23.4% |
| Operating profit (loss)9901 | €203,325 | €669,344 | €545,894 | €885,131 | €1.2m | ▲ 36.9% |
| Financial income75/76B | €4,672 | €37,628 | €230,675 | €1,245 | €1,346 | ▲ 8.2% |
| Recurring financial income75 | €4,672 | €37,628 | €230,675 | €1,245 | €1,346 | ▲ 8.2% |
| Financial charges65/66B | €9,707 | €15,870 | €9,042 | €11,463 | €20,283 | ▲ 76.9% |
| Recurring financial charges65 | €9,707 | €15,870 | €9,042 | €11,463 | €20,283 | ▲ 76.9% |
| Profit (loss) for the period before taxes9903 | €198,290 | €691,101 | €767,526 | €874,913 | €1.2m | ▲ 36.3% |
| Income taxes67/77 | €75,237 | €73,196 | €35,553 | €66,254 | €178,535 | ▲ 169% |
| Profit (loss) for the period9904 | €123,054 | €617,905 | €731,973 | €808,659 | €1.0m | ▲ 25.4% |
| Profit (loss) for the period to be appropriated9905 | €123,054 | €617,905 | €731,973 | €808,659 | €1.0m | ▲ 25.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.6m | €2.1m | €2.2m | €3.2m | €3.5m | ▲ 9.7% |
| Fixed assets21/28 | €685,273 | €670,651 | €630,454 | €731,766 | €775,469 | ▲ 6.0% |
| Intangible fixed assets21 | €5,982 | €2,988 | €0 | €24,706 | €54,825 | ▲ 122% |
| Tangible fixed assets22/27 | €256,522 | €248,195 | €210,986 | €287,592 | €292,176 | ▲ 1.6% |
| Land and buildings22 | - | - | - | €2,062 | €0 | ▼ 100% |
| Plant, machinery and equipment23 | €254,983 | €226,853 | €198,722 | €267,929 | €261,872 | ▼ 2.3% |
| Furniture and vehicles24 | €1,539 | €21,342 | €12,264 | €17,601 | €30,304 | ▲ 72.2% |
| Financial fixed assets28 | €422,768 | €419,468 | €419,468 | €419,468 | €428,468 | ▲ 2.1% |
| Current assets29/58 | €884,868 | €1.4m | €1.6m | €2.4m | €2.7m | ▲ 10.8% |
| Stocks and contracts in progress3 | €338,832 | €464,062 | €439,551 | €545,410 | €466,453 | ▼ 14.5% |
| Stocks30/36 | €338,832 | €464,062 | €439,551 | €545,410 | €466,453 | ▼ 14.5% |
| Amounts receivable within one year40/41 | €276,496 | €378,103 | €786,111 | €1.3m | €1.5m | ▲ 14.2% |
| Trade receivables40 | €219,371 | €348,910 | €654,564 | €1.1m | €1.2m | ▲ 1.8% |
| Other amounts receivable41 | €57,125 | €29,194 | €131,547 | €146,598 | €309,480 | ▲ 111% |
| Cash at bank and in hand54/58 | €268,508 | €578,666 | €346,261 | €582,582 | €734,591 | ▲ 26.1% |
| Deferred charges and accrued income490/1 | €1,032 | €6,263 | €3,508 | €2,375 | €6,773 | ▲ 185% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.6m | €2.1m | €2.2m | €3.2m | €3.5m | ▲ 9.7% |
| Equity10/15 | €273,826 | €441,731 | €943,704 | €1.2m | €2.2m | ▲ 86.5% |
| Contributions10/11 | €54,550 | €54,550 | €54,550 | €54,550 | €54,550 | = |
| Reserves13 | €218,804 | €387,181 | €889,154 | €1.1m | €2.1m | ▲ 90.7% |
| Tax-exempt reserves132 | €18,750 | €18,750 | €18,750 | €18,750 | €18,750 | = |
| Distributable reserves133 | €200,054 | €368,431 | €870,404 | €1.1m | €2.1m | ▲ 92.3% |
| Profit (loss) carried forward14 | €472 | €0 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €1.3m | €1.7m | €1.3m | €2.0m | €1.3m | ▼ 35.8% |
| Amounts payable after more than one year17 | €513,237 | €620,310 | €525,380 | €387,285 | €20,833 | ▼ 94.6% |
| Financial debts170/4 | €100,000 | €250,000 | €220,833 | €70,833 | €20,833 | ▼ 70.6% |
| Other amounts payable178/9 | €413,237 | €370,310 | €304,547 | €316,452 | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €743,791 | €1.0m | €736,802 | €1.6m | €1.3m | ▼ 21.5% |
| Current portion of amounts payable after more than one year42 | - | - | - | €50,000 | €50,000 | = |
| Financial debts43 | €110,000 | €153,400 | €137,090 | €80,499 | €80,317 | ▼ 0.2% |
| Credit institutions430/8 | €90,000 | €103,400 | €82,923 | €80,499 | €80,317 | ▼ 0.2% |
| Other loans439 | €20,000 | €50,000 | €54,167 | - | - | - |
| Trade debts44 | €397,871 | €375,147 | €328,536 | €837,056 | €846,456 | ▲ 1.1% |
| Suppliers440/4 | €397,871 | €375,147 | €328,536 | €837,056 | €846,456 | ▲ 1.1% |
| Taxes, remuneration and social security45 | €235,139 | €29,707 | €41,176 | €48,799 | €158,070 | ▲ 224% |
| Taxes450/3 | €84,702 | €2,056 | €0 | €10,507 | €92,912 | ▲ 784% |
| Remuneration and social security454/9 | €150,437 | €27,651 | €41,176 | €38,293 | €65,158 | ▲ 70.2% |
| Other amounts payable47/48 | €781 | €450,000 | €230,000 | €580,000 | €117,905 | ▼ 79.7% |
| Accrued charges and deferred income492/3 | €39,287 | €27,451 | €0 | - | €797 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €123,054 | €617,905 | €731,973 | €808,659 | €1.0m | ▲ 25.4% |
| + Depreciation and write-downs630 | €30,818 | €36,322 | €40,197 | €52,435 | €64,809 | ▲ 23.6% |
| Operating cash flow (approximation) | €153,872 | €654,227 | €772,170 | €861,094 | €1.1m | ▲ 25.3% |
| Investment in fixed assets (approximation) | - | -€21,700 | €0 | -€153,747 | -€108,512 | ▲ 29.4% |
| Change in cash | - | €310,158 | -€232,405 | €236,321 | €152,009 | ▼ 35.7% |
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
Next filing, fiscal year 2026, expected by
2026
06-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 6 days late
2025
31-12
Financial
Highest result since 2018net €1.0m ▲25.4%
Operating result €1.2m, net result €1.0m, both a record.
31-12
Financial
Equity above €2mEq €2.2m ▲86.5%
8 profitable years in a row build equity to €2.2m.
24-11
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 116 days late
2024
31-12
Financial
Equity above €1mEq €1.2m ▲24.2%
7 profitable years in a row build equity to €1.2m.
25-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Equity above €500,000Eq €943,704 ▲114%
6 profitable years in a row build equity to €943,704.
28-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
11-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 11 days late
2021
31-12
Financial
Equity above €200,000Eq €273,826 ▲81.6%
4 profitable years in a row build equity to €273,826.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 31 days late
2020
31-12
Financial
Equity above €150,000Eq €150,772 ▲44.9%
3 profitable years in a row build equity to €150,772.
Show earlier events
06-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 67 days late
2019
31-12
Financial
Weakest financial yearnet €841 ▼97.8%
Net result drops to €841, the lowest in the series; recovery starts the following year.
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
09-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
26-07
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.
0 of 9 acts read
About the unread acts
We know of 9 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
9 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, Kampenhout · 1 establishment unit since 2007
Ground area
8,340 m²
Building footprint
3,314 m²
Volume, LiDAR
25,431 m³
Parcel 23038A0031/00K000, Flanders · tallest building 10.0 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
PPA / PostPress Adivsers Electronics / PPA Electronics
since 20072.165.062.665
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23038A0031/00K000 | Flanders | 8,340 m² | 1 · 3,314 m² | 10.0 m · 3 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.
Structure & network
Owners and holdings
1 holdingOwners 0
The accounts to 31-12-2025 list no shareholders, and no other source names one.
Holdings 1
-
90%
According to the 2025 annual accounts of PPA-Electronics and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 9 entries · 56,298 EUR awarded · 48,168 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 2 | 9,760 EUR | 13,520 EUR |
| 2024 | 2 | 10,926 EUR | 13,880 EUR |
| 2023 | 3 | 24,607 EUR | 12,512 EUR |
| 2022 | 2 | 11,005 EUR | 8,256 EUR |
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Of 2,503 companies in sector 46649 we hold annual accounts for 1,762. 1,205 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded20-08-2007
Fiscal year end31-12
Trade name NL
Dockmate
Activities, NACEBEL 2025
46649Wholesale of other machinery and equipment
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0891773260
Registered
20-11-2020
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.