Select-Panels
ActiveSelect-Panels has been active since 1983 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €216k and a net result of €4k. Equity remains stable across the filed fiscal years (±1.6% per year). Its solvency ranks better than 28% of 11238 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
52
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability26▲+2
Solvency38▼-5
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €11k at 30 days acceptable
Liquidity ample (current ratio 1.53 against 6.05 in 2024; short-term debt: 40.6% and cash: 0.2% of total assets), but 87.4% 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
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 2025Solvency, return and age of the figures
Solvency
12.6%
Return on assets
0.2%
Age of the figures
12 mo
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
Sector 46
higher
← fewer bankruptcies
more bankruptcies →
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 30-04-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
2 d early
2023
65 d late
2022
2 d early
2021
2 d early
2020
1 d early
2019
29 d late
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
18-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€216k▲ 1.7%
2024 · €212k
2018: €150k
2019: €142k
2020: €278k
2021: €285k
2022: €270k
2023: €209k
2024: €212k
2018 → 2025
Total assets
€1.71M▲ 43.9%
2024 · €1.19M
2018: €1.83M
2019: €3.83M
2020: €1.31M
2021: €1.31M
2022: €1.27M
2023: €1.18M
2024: €1.19M
2018 → 2025
Net result
€4k▲ 24.1%
2024 · €3k
2018: €2k
2019: €-9k
2020: €136k
2021: €7k
2022: €-15k
2023: €-60k
2024: €3k
2018 → 2025
Working capital
€366k▼ 63.1%
2024 · €991k
2018: €845k
2019: €1.10M
2020: €1.07M
2021: €1.05M
2022: €1.02M
2023: €968k
2024: €991k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€285k-€270k▼ 5.2%€209k▼ 22.4%€212k▲ 1.4%€216k▲ 1.7%
Operating result€47k-€16k▼ 66.6%€-14k€30k€34k▲ 14.6%
Net result€7k-€-15k€-60k▼ 306%€3k€4k▲ 24.1%
Turnover and EBIT margin not published: the 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 15% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.71M
Fixed assets
€650k▲ 64,891%
Current assets
€1.06M▼ 10.7%
Equity and liabilities €1.71M
Equity
€216k▲ 1.7%
Debt
€1.49M▲ 53.1%
The debt ratio rises from 82.1% to 87.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€45k▲
2024 · €30k
Cash flow
€15k▲
2024 · €3k
Solvency
12.6%▼
2024 · 17.9%
Current ratio
1.53▼
2024 · 6.05
Quick ratio
0.68▼
2024 · 2.70
Debt / equity
6.93▲
2024 · 4.60
ROE
1.7%▲
2024 · 1.4%
ROA
0.2%▼
2024 · 0.2%
Interest coverage
0.88▲
2024 · 0.63
Debt
€1.49M▲
2024 · €977k
Debt ≤ 1 year
€695k▲
2024 · €196k
Debt > 1 year
€706k▼
2024 · €749k
Income taxes
€545▼
2024 · €686
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€1.19M€1.71M▲
Fixed assets21/28€1k€650k▲
Tangible fixed assets22/27€0€649k▲
Land and buildings22€0€649k▲
Financial fixed assets28€1k€1k=
Current assets29/58€1.19M€1.06M▼
Stocks and contracts in progress3€658k€591k▼
Stocks30/36€658k€591k▼
Amounts receivable within one year40/41€509k€450k▼
Trade receivables40€2k€53k▲
Other amounts receivable41€507k€396k▼
Cash at bank and in hand54/58€87€3k▲
Deferred charges and accrued income490/1€21k€17k▼
Equity and liabilities
Total equity and liabilities10/49€1.19M€1.71M▲
Equity10/15€212k€216k▲
Contributions10/11€245k€245k=
Capital10€245k€245k=
Issued capital100€245k€245k=
Reserves13€25k€25k=
Non-distributable reserves130/1€25k€25k=
Legal reserve130€25k€25k=
Distributable reserves133€326€326=
Profit (loss) carried forward14€-58k€-54k▲
Amounts payable17/49€977k€1.49M▲
Amounts payable after more than one year17€749k€706k▼
Financial debts170/4€749k€706k▼
Amounts payable within one year42/48€196k€695k▲
Current portion of amounts payable after more than one year42€72k€72k▼
Financial debts43€82€0▼
Credit institutions430/8€82€0▼
Trade debts44€5k€32k▲
Suppliers440/4€5k€32k▲
Taxes, remuneration and social security45€686€545▼
Taxes450/3€686€545▼
Other amounts payable47/48€119k€591k▲
Accrued charges and deferred income492/3€31k€94k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0€11k▲
Other operating charges640/8€2k€2k▲
Non-recurring operating charges66A€0-
Gross operating margin9900€32k€48k▲
Operating profit (loss)9901€30k€34k▲
Financial income75/76B€21k€21k▲
Recurring financial income75€21k€21k▲
Financial charges65/66B€47k€51k▲
Recurring financial charges65€47k€51k▲
Profit (loss) for the period before taxes9903€4k€4k▲
Income taxes67/77€686€545▼
Profit (loss) for the period9904€3k€4k▲
Profit (loss) for the period to be appropriated9905€3k€4k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-58k€-54k▲
Profit (loss) brought forward from the previous period14P€-60k€-58k▲
The notes to these accounts (12 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
30-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
28-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-09
Financial
Back to profitnet €3k
Net result €3k after 2 loss-making years.
04-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 65 days late
2023
30-09
Financial
Weakest financial yearnet €-60k
Net result drops to €-60k, the lowest in the series; recovery starts the following year.
28-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
28-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
29-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-09
Financial
Back to profitnet €136k
Net result €136k after one loss-making year.
30-09
Financial
Liquidity quadruplescurrent ratio 6.12
Current ratio from 1.48 to 6.12; short-term debt falls from €2.30M to €209k.
30-09
Financial
Equity above €200kEq €278k ▲96.1%
Equity rises from €142k to €278k.
29-05
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 29 days late
2019
30-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
17-04
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
31-03
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
5 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, Waregem · 1 establishment unit since 1983
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.
Nijverheidstraat 458791 WaregemGround area
2,069 m²
Building footprint
380 m²
Volume, LiDAR
1,667 m³
2 parcels, Flanders · tallest building 9.1 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
SELECT PANELS
since 19832.022.005.481
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34006A0364/00H007 | Flanders | 1,570 m² | 1 · 221 m² | 9.1 m · 2 fl. |
| 34010A0450/00G000 | Flanders | 499 m² | 1 · 160 m² | 4.1 m · 1 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.
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TANAOK & PARTNERS
BE 0846.161.484
Elsene · Eq €219k
International Services and Trade Center
BE 0421.359.486
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SOBABEL PHARMATECHNIC
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Of 1,566 companies in sector 46900 we hold annual accounts for 920. 660 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded09-03-1983
Fiscal year end30-09
Activities, NACEBEL
46900Non-specialised wholesale trade
51900
74855
82100Office administrative and support services
82110Office administrative, office support and other business support activities
Sources
Crossroads Bank for EnterprisesNational Bank · 42 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.