Result
€113,685 €113,685
Back in profit in 2025, after a loss of €25,853 in 2024.
TAI - PAN
Lifetime
20 annual accounts with figures on one time axis, 37 filings since 1988peak €886,061 (2025)
€886,061▲ €895,780
lowest -€49,253 (2022)
€113,685▲ €139,538
peak €388,604 (2025)
€388,604▲ 41.4%
€237,192▼ 63.4%
Board5 names since 2021
2 directorsBart Maes and 1 other
Documentsfilings and deeds
30-09-202661 days late
2025abbreviated format
Gross margin from -€9,719 to €886,061Back to profit: €113,685Registered office moved from Brasschaat to Mechelen 21-11Equity from €274,919 to €388,604Debts from €648,818 to €237,192Cash from €852 to €605,386
Key points
from the 2025 annual accountsTurnover
≈ €1.8m estimated
The accounts state no turnover.
Liquidity
2.89 was 2.01 in 2024
Short-term debts fell from €381,924 to €216,442.
Filings
37 annual accounts 61 days
Latest accounts filed late: after the legal deadline.
Board
1 joined · 2 left
Board changed. Latest change 15-04-2026 · 1 in office.
Position in the sector
€113,685
Higher net result than 81% of companies in advertising and market research. Sector median €16,264 · 2,088 companies.
Checked score
69
Healthy
Financially stronger than 62% of micro companies in advertising and market research (NACE 73)
Probability in this band: 0.55% to 1.5%
Bankruptcy probability within 12 months
0.8% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.2% across 11,229 companies (NACE 73, micro).
About 8 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.1%lowest value
01-2025: 0.1%● unchanged vs 12-2024lowest value
02-2025: 0.1%● unchanged vs 01-2025
03-2025: 0.1%● unchanged vs 02-2025
04-2025: 0.2%▲ +0.1 percentage points vs 03-2025
05-2025: 0.2%● unchanged vs 04-2025
06-2025: 0.2%● unchanged vs 05-2025
07-2025: 0.3%▲ +0.1 percentage points vs 06-2025
08-2025: 0.5%▲ +0.2 percentage points vs 07-2025
09-2025: 0.7%▲ +0.2 percentage points vs 08-2025
10-2025: 0.5%▼ -0.2 percentage points vs 09-2025
11-2025: 0.5%● unchanged vs 10-2025
12-2025: 1.2%▲ +0.7 percentage points vs 11-2025
01-2026: 1.2%● unchanged vs 12-2025
02-2026: 1.2%● unchanged vs 01-2026
03-2026: 1.2%● unchanged vs 02-2026
04-2026: 1.2%● unchanged vs 03-2026
05-2026: 1.1%▼ -0.1 percentage points vs 04-2026
06-2026: 1.2%▲ +0.1 percentage points vs 05-2026
07-2026: 3.9%▲ +2.7 percentage points vs 06-2026
08-2026: 4.9%▲ +1.0 percentage point vs 07-2026
09-2026: 6.0%▲ +1.1 percentage points vs 08-2026highest value
10-2026: 0.8%▼ -5.2 percentage points vs 09-2026
11-2026: 0.8%● unchanged vs 10-2026
Financial strengthStrong
Score breakdown
raises risk
2 changes of registered office in 24 months
Last filed accounts filed 61 days late; 2 of the last 3 accounts late
lowers risk
Liquidity: current ratio 2.89, cash €605,386
Equity €388,604 (62.1% of total assets)
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 73, micro). It does better than 60% of them on solvency, 77% on liquidity, 30% on profitability and 81% on growth.
The bankruptcy probability was computed on 06-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 20,137 companies had the same profile as TAI - PAN has now. Each dot stands for 51 companies, two years later.
95.0%
were still trading
4.7%
stopped another way
0.2%
went bankrupt
The bankruptcy probability of TAI - PAN itself is higher: 0.8% within 12 months. It rests on far more data about TAI - PAN than the profile alone.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 20,137 companies, not a prediction for TAI - PAN. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €25,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 2.89 (2.01 in 2024), above the usual 1.5. Short-term debt is 34.6% and cash 96.7% of total assets. 37.9% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises risk
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €388,604
raises risk · 2025 accounts filed 61 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-09-2026, 61 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filingsDeviation from the deadline
2025
61 days late
2024
61 days late
2023
29 days late
2022
30 days late
2021
30 days late
2020
11 days late
2019
3 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 31 days after the deadline. In the sector (NACE 73), the median for financial year 2024 was 6 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 30 August (5 of the last 5 accounts filed within 31 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
07-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
New managing director
Savanna Maes appointed, Bart Maes resigned · General meeting of 15-04-2026 · Gazette deed
Registered office moved from Brasschaat to Mechelen
New registered office: Sint-Janstraat 10 bus 3, 2800 Mechelen · Previous registered office: Baillet-Latourlei 97, 2930 Brasschaat · Reappointment: MAES Bart (director) · Gazette deed
Resignation: Chantal Voets (director)
Appointment: Koen Maes (director) · General meeting of 19-08-2024 · Gazette deed
1 director resigning, 2 reappointments
Permanent representative: Bart Maes · Resignation: Noble House NV · Reappointments: Bart Maes (managing director) and Chantal Voets · General meeting of 28-05-2021 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| TAI - PAN Schoten | €625,796 | €886,061 | 62.1% | - |
| advert'HYPE Boortmeerbeek | €638,098 | €801,971 | -70.4% | 17.7 |
| PLASTILIGHT Nivelles | €586,060 | €770,025 | 14.7% | 9.6 |
| ALIZE MEDIA Seneffe | €600,033 | €902,685 | 59.4% | 25.6 |
| DECO ART Antwerp | €453,350 | €552,207 | 61.8% | 6.3 |
| Mpact Brussels | €528,194 | €866,894 | 38.5% | 17.9 |
| VITAM Ixelles | €839,502 | €970,146 | 24.3% | - |
These companies have the same main activity as TAI - PAN: advertising agencies (NACE 73110). They are comparable in size and age: total assets between €453,000 and €840,000, founded between 1980 and 1991.
Official details
Source: KBO- Status
- Active since 15-10-1987Normal situation
- Activity
- Advertising agenciesNACE 73110
- Establishment units
- 2.065.020.4292930 Brasschaat, since 05-01-1994
- 2.203.536.8252018 Antwerp, since 01-10-2011
- Financial year end
- 31 December
- Peppol
- Not found in the Peppol Directory
Insights on TAI - PAN
TAI - PAN files the abbreviated format. That format states no turnover. The gross margin rose from €182,329 in 2006 to €886,061 in 2025.
In June 2026, the Official Gazette published the appointment of Savanna Maes as managing director.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about TAI - PAN
- What is the company number of TAI - PAN?
- The company number of TAI - PAN is 0432.238.928. The VAT number is the same number with BE in front: BE 0432.238.928.
- Where is TAI - PAN based?
- The registered office is at Jozef Jennesstraat 5, 2900 Schoten.Company details
- What does TAI - PAN do?
- According to the KBO register, the main activity is advertising agencies (NACE 73110).
- What is the legal form of TAI - PAN?
- TAI - PAN is a public limited company (NV).
- When was TAI - PAN founded?
- TAI - PAN was founded on 15-10-1987.
- Is TAI - PAN still active?
- Yes, TAI - PAN is an active enterprise in the KBO register.
- What is the turnover of TAI - PAN?
- The turnover in financial year 2025 is ≈ €1.8m. This figure is estimated from the gross margin of €886,061 and 37 comparable companies (NACE 73). It probably lies between €1.2m and €2.3m.Financials
- Is TAI - PAN profitable?
- In financial year 2025, TAI - PAN made a profit of €113,685.
- Where can I find the annual accounts of TAI - PAN?
- TAI - PAN filed 37 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of TAI - PAN due?
- TAI - PAN must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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