THE PAND
ActiveTHE PAND has been active since 1997 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €225k and a net result of €42k. Equity remains stable across the filed fiscal years (±1.6% per year). Its solvency ranks better than 55% of 688 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
64
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability59▲+9
Solvency58▲+8
Growth32=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €14k at 30 days acceptable
Liquidity short (current ratio 0.72 against 0.58 in 2024; short-term debt: 58.3% of total assets), and 67.3% 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
32.7%
Return on assets
6.2%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 55
Relative position
BE, all sectors
reference
Sector 55
higher
← fewer bankruptcies
more bankruptcies →
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 €225k
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 13-07-2026, 18 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
18 d early
2024
17 d early
2023
14 d early
2022
13 d early
2021
13 d early
2020
12 d early
2019
3 d early
← before the deadline
after the deadline →
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
23-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€225k▲ 23.2%
2024 · €183k
2018: €228k
2019: €541k
2020: €175k
2021: €19k
2022: €127k
2023: €160k
2024: €183k
2018 → 2025
Total assets
€689k▼ 4.2%
2024 · €719k
2018: €954k
2019: €950k
2020: €746k
2021: €908k
2022: €1.06M
2023: €1.10M
2024: €719k
2018 → 2025
Net result
€42k▲ 79.9%
2024 · €24k
2018: €47k
2019: €12k
2020: €-366k
2021: €-230k
2022: €107k
2023: €33k
2024: €24k
2018 → 2025
Working capital
€-111k▲ 43.8%
2024 · €-197k
2018: €-389k
2019: €-64k
2020: €-223k
2021: €-28k
2022: €8k
2023: €-65k
2024: €-197k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€19k-€127k▲ 553%€160k▲ 25.8%€183k▲ 14.8%€225k▲ 23.2%
Operating result€-216k-€153k€90k▼ 41.0%€80k▼ 11.4%€89k▲ 11.0%
Net result€-230k-€107k€33k▼ 69.5%€24k▼ 28.0%€42k▲ 79.9%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 11% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €689k
Fixed assets
€398k▼ 11.0%
Current assets
€291k▲ 6.8%
Equity and liabilities €689k
Equity
€225k▲ 23.2%
Debt
€463k▼ 13.6%
The debt ratio falls from 74.6% to 67.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€188k▼
2024 · €188k
Cash flow
€141k▲
2024 · €131k
Solvency
32.7%▲
2024 · 25.4%
Current ratio
0.72▲
2024 · 0.58
Quick ratio
0.70▲
2024 · 0.56
Debt / equity
2.06▼
2024 · 2.93
ROE
18.8%▲
2024 · 12.9%
ROA
6.2%▲
2024 · 3.3%
Interest coverage
3.95▲
2024 · 3.32
Debt
€463k▼
2024 · €536k
Debt ≤ 1 year
€402k▼
2024 · €469k
Debt > 1 year
€45k▼
2024 · €58k
Income taxes
€339▲
2024 · €331
Staff costs
€566k▼
2024 · €605k
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€719k€689k▼
Fixed assets21/28€447k€398k▼
Intangible fixed assets21€2k€1k▼
Tangible fixed assets22/27€367k€319k▼
Plant, machinery and equipment23€138k€106k▼
Furniture and vehicles24€49k€33k▼
Other tangible fixed assets26€179k€180k▲
Financial fixed assets28€78k€78k=
Current assets29/58€273k€291k▲
Stocks and contracts in progress3€12k€12k▼
Stocks30/36€12k€12k▼
Amounts receivable within one year40/41€142k€162k▲
Trade receivables40€11k€16k▲
Other amounts receivable41€131k€146k▲
Current investments50/53-€80k
Cash at bank and in hand54/58€80k-
Deferred charges and accrued income490/1€39k€38k▼
Equity and liabilities
Total equity and liabilities10/49€719k€689k▼
Equity10/15€183k€225k▲
Contributions10/11€675k€675k=
Reserves13€8k€8k=
Distributable reserves133€8k€8k=
Profit (loss) carried forward14€-499k€-457k▲
Amounts payable17/49€536k€463k▼
Amounts payable after more than one year17€58k€45k▼
Financial debts170/4€58k€45k▼
Amounts payable within one year42/48€469k€402k▼
Current portion of amounts payable after more than one year42€150k€53k▼
Financial debts43€20k€84k▲
Credit institutions430/8€20k€84k▲
Trade debts44€103k€122k▲
Suppliers440/4€103k€122k▲
Advances received on contracts in progress46€91k€86k▼
Taxes, remuneration and social security45€66k€42k▼
Taxes450/3€337€340▲
Remuneration and social security454/9€66k€42k▼
Other amounts payable47/48€39k€14k▼
Accrued charges and deferred income492/3€9k€16k▲
Income statement
Code20242025
Remuneration, social security and pensions62€605k€566k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€108k€98k▼
Other operating charges640/8€5k€4k▼
Gross operating margin9900€797k€757k▼
Operating profit (loss)9901€80k€89k▲
Financial income75/76B€357€1k▲
Recurring financial income75€357€1k▲
Financial charges65/66B€57k€47k▼
Recurring financial charges65€57k€47k▼
Profit (loss) for the period before taxes9903€24k€43k▲
Income taxes67/77€331€339▲
Profit (loss) for the period9904€24k€42k▲
Profit (loss) for the period to be appropriated9905€24k€42k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-499k€-457k▲
Profit (loss) brought forward from the previous period14P€-523k€-499k▲
Social balance
Average headcount (FTE)908714.013.8▼
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
13-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Equity above €200kEq €225k ▲23.2%
4 profitable years in a row build equity to €225k.
14-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
17-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Equity above €150kEq €160k ▲25.8%
2 profitable years in a row build equity to €160k.
18-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Back to profitnet €107k
Net result €107k after 2 loss-making years.
31-12
Financial
Equity above €100kEq €127k ▲553%
Equity rises from €19k to €127k.
18-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
19-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Weakest financial yearnet €-366k ▼3081%
Net result drops to €-366k, the lowest in the series; recovery starts the following year.
28-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Equity above €500kEq €541k ▲137%
2 profitable years in a row build equity to €541k.
22-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
19-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2016
29-11
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
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, Brugge · 1 establishment unit since 1999
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.
Pandreitje 168000 BruggeGround area
395 m²
Building footprint
225 m²
Volume, LiDAR
2,393 m³
Parcel 31802B0824/00R000, Flanders · tallest building 17.7 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
ROMANTIK PANDHOTEL
since 19992.090.274.972
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31802B0824/00R000 | Flanders | 395 m² | 1 · 225 m² | 17.7 m · 4 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.
Public money · subsidies and aid
Flemish government
2022 to 2023 · 2 entries · 23,514 EUR awarded · 12,780 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 10,734 EUR | 0 EUR |
| 2022 | 1 | 12,780 EUR | 12,780 EUR |
Schemes
Globalisatiemechanisme (stopgezet)
Logiessubsidie: steun voor erkend toeristisch logies
Recognitions · licences · registrations
Food safety, FASFC
1 siteBrugge2.090.274.972
Dual-learning approval
1 endedSimilar companies · same sector, comparable size
R HOTEL EXPERIENCES
BE 0506.982.574
Aywaille · Eq €225k
VENTURA
BE 0462.861.729
Merelbeke-Melle · Eq €224k
Cornerstone
BE 0777.988.203
Nieuwpoort · Eq €227k
MARKA
BE 0471.997.644
Kasterlee · Eq €228k
FEVACA INN
BE 0421.303.761
Willebroek · Eq €223k
Of 2,395 companies in sector 55100 we hold annual accounts for 1,517. 1,110 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded17-09-1997
Fiscal year end31-12
Activities, NACEBEL
55100Hotels and similar accommodation
55101Hotels
Sources
Crossroads Bank for EnterprisesNational Bank · 26 filingsAddress and cadastre registers
Data from official sources, last processed on 22-09-2026. Scores and ratios are computed by Checked and are not a credit decision.