PSA Zeebrugge
ActiveSummary
PSA Zeebrugge has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €26.24M and a net result of €2.82M. Equity is growing by ~17.3% per year across the filed fiscal years. Its solvency ranks better than 82% of 652 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
75
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability73▲+9
Solvency98▲+35
Growth52▼-2
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1.95M at 30 days acceptable
Liquidity ample (current ratio 3.22 against 5.7 in 2024; short-term debt: 21.7% and cash: 0% of total assets), and 26.8% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 52
Relative position
BE, all sectors
reference
Sector 52
higher
← fewer bankruptcies
more bankruptcies →
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
73.2%
Return on assets
7.9%
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
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 24-07-2026, 7 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
7 d early
2024
7 d early
2023
15 d early
2022
13 d early
2021
30 d early
2020
39 d early
2019
2 d early
← before the deadline
after the deadline →
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
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€43.62M▼ 5.0%
2024 · €45.90M
2018: €30.59M
2019: €30.44M
2020: €32.79M
2021: €40.67M
2022: €39.30M
2023: €39.53M
2024: €45.90M
2018 → 2025
EBIT margin
6.9%▼ 1.6pp
2024 · 8.6%
2018: 12.9%
2019: 9.9%
2020: 5.9%
2021: 5.2%
2022: 7.9%
2023: 10.8%
2024: 8.6%
2018 → 2025
Net result
€2.82M▲ 17.6%
2024 · €2.40M
2018: €3.61M
2019: €2.77M
2020: €1.78M
2021: €1.93M
2022: €2.85M
2023: €3.69M
2024: €2.40M
2018 → 2025
Working capital
€17.21M▼ 58.8%
2024 · €41.74M
2018: €33.57M
2019: €35.06M
2020: €34.67M
2021: €30.39M
2022: €33.54M
2023: €38.40M
2024: €41.74M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€40.67M-€39.30M▼ 3.4%€39.53M▲ 0.6%€45.90M▲ 16.1%€43.62M▼ 5.0%
Equity€14.49M-€17.34M▲ 19.7%€21.03M▲ 21.3%€23.43M▲ 11.4%€26.24M▲ 12.0%
Operating result€2.11M-€3.09M▲ 46.7%€4.29M▲ 38.5%€3.92M▼ 8.4%€3.02M▼ 23.0%
Net result€1.93M-€2.85M▲ 47.5%€3.69M▲ 29.3%€2.40M▼ 35.1%€2.82M▲ 17.6%
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 23% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €35.86M
Fixed assets
€10.89M ▲ 1.4%
Current assets
€24.97M ▼ 50.7%
Equity and liabilities €35.86M
Equity
€26.24M ▲ 12.0%
Provisions
€1.85M ▲ 96.4%
Debt
€7.77M ▼ 79.0%
Debt's share of the balance-sheet total falls from 60.3% to 21.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€4.64M▼
2024 · €5.48M
Cash flow
€4.43M▲
2024 · €3.96M
Current ratio
3.22▼
2024 · 5.70
Quick ratio
3.20▼
2024 · 5.69
Debt to equity
0.30▼
2024 · 1.58
ROE
10.7%▲
2024 · 10.2%
ROA
7.9%▲
2024 · 3.9%
Interest coverage
7.49▲
2024 · 4.59
Debt ≤ 1 year
€7.77M▼
2024 · €8.87M
Income taxes
€179k▼
2024 · €1.53M
Staff costs
€3.15M▲
2024 · €3.13M
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 · 2025 against 2024 · 82 lines
Balance sheet
Code20242025
Assets
Total assets20/58€61.34M€35.86M▼
Fixed assets21/28€10.73M€10.89M▲
Tangible fixed assets22/27€10.73M€10.89M▲
Land and buildings22€5.36M€5.11M▼
Plant, machinery and equipment23€4.93M€5.50M▲
Furniture and vehicles24€207k€138k▼
Assets under construction and advance payments27€235k€135k▼
Financial fixed assets28€160€160=
Other financial fixed assets284/8€160€160=
Amounts receivable and cash guarantees285/8€160€160=
Current assets29/58€50.61M€24.97M▼
Stocks and contracts in progress3€94k€92k▼
Stocks30/36€94k€92k▼
Raw materials and consumables30/31€94k€92k▼
Amounts receivable within one year40/41€48.62M€23.36M▼
Trade receivables40€6.17M€7.94M▲
Other amounts receivable41€42.45M€15.42M▼
Cash at bank and in hand54/58-€188
Deferred charges and accrued income490/1€1.90M€1.52M▼
Equity and liabilities
Total equity and liabilities10/49€61.34M€35.86M▼
Equity10/15€23.43M€26.24M▲
Contributions10/11€13.93M€13.93M=
Capital10€13.93M€13.93M=
Issued capital100€13.93M€13.93M=
Revaluation surpluses12€554€554=
Reserves13€4.57M€4.72M▲
Non-distributable reserves130/1€453k€593k▲
Legal reserve130€452k€593k▲
Other1319€419€419=
Tax-exempt reserves132€216k€216k=
Distributable reserves133€3.91M€3.91M=
Profit (loss) carried forward14€4.92M€7.59M▲
Provisions and deferred taxes16€943k€1.85M▲
Provisions for liabilities and charges160/5€943k€1.85M▲
Other liabilities and charges164/5€943k€1.85M▲
Amounts payable17/49€36.98M€7.77M▼
Amounts payable after more than one year17€28.00M-
Financial debts170/4€28.00M-
Other loans174€28.00M-
Amounts payable within one year42/48€8.87M€7.77M▼
Financial debts43€17k-
Credit institutions430/8€17k-
Trade debts44€7.56M€6.67M▼
Suppliers440/4€7.56M€6.67M▼
Taxes, remuneration and social security45€1.29M€1.08M▼
Taxes450/3€435k€296k▼
Remuneration and social security454/9€853k€786k▼
Other amounts payable47/48€10k€11k▲
Accrued charges and deferred income492/3€101k€0▼
Income statement
Code20242025
Operating income70/76A€46.20M€43.83M▼
Turnover70€45.90M€43.62M▼
Other operating income74€295k€209k▼
Non-recurring operating income76A€4k-
Operating charges60/66A€42.27M€40.81M▼
Goods for resale, raw materials and consumables60€37k€28k▼
Purchases600/8€37k€26k▼
Change in stocks: decrease (increase)609€-141€2k▲
Services and other goods61€36.46M€34.40M▼
Remuneration, social security and pensions62€3.13M€3.15M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1.56M€1.62M▲
Provisions for liabilities and charges: additions (uses and reversals)635/8€455k€909k▲
Other operating charges640/8€627k€704k▲
Operating profit (loss)9901€3.92M€3.02M▼
Financial income75/76B€1.20M€598k▼
Recurring financial income75€1.20M€598k▼
Income from current assets751€1.20M€598k▼
Other financial income752/9€77€384▲
Financial charges65/66B€1.20M€622k▼
Recurring financial charges65€1.20M€622k▼
Debt charges650€1.20M€619k▼
Other financial charges652/9€1k€3k▲
Profit (loss) for the period before taxes9903€3.93M€3.00M▼
Income taxes67/77€1.53M€179k▼
Taxes670/3€1.53M€188k▼
Tax adjustments and reversals of tax provisions77-€8k
Profit (loss) for the period9904€2.40M€2.82M▲
Profit (loss) for the period to be appropriated9905€2.40M€2.82M▲
Appropriation of the result
Profit (loss) to be appropriated9906€5.04M€7.73M▲
Profit (loss) brought forward from the previous period14P€2.64M€4.92M▲
Transfer to equity691/2€120k€141k▲
To the legal reserve6920€120k€141k▲
Social balance
Average headcount (FTE)908737.834.5▼
The notes to these accounts (57 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
18-08
State Gazette act
Appointments: KPMG Bedrijfsrevisoren (statutory auditor) and David Van Eynde (director)Permanent representative: Frederic Poesen · Resignation: Wai Yan Kwong (director) · Power of attorney10 facts ▸
State Gazette act
Appointments: KPMG Bedrijfsrevisoren (statutory auditor) and David Van Eynde (director)
Permanent representative: Frederic Poesen · Resignation: Wai Yan Kwong (director) · Power of attorney10 facts ▸
- General meeting, 30-06-2026
- Auditor appointment, KPMG Bedrijfsrevisoren (statutory auditor)
- Permanent representative, Frederic Poesen
- Board meeting, 22-05-2026
- Power of attorney, Vaën Vercruysse
- General meeting, 30-04-2026
- Correction, Rechtzetting van de einddatum van het mandaat van Terence Lee als bestuurder
- General meeting, 29-07-2026
- Director resignation, Wai Yan Kwong (director)
- Director appointment, David Van Eynde (director)
24-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Equity above €25MEq €26.24M ▲12%
8 profitable years in a row build equity to €26.24M.
24-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
16-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Highest result since 2018net €3.69M ▲29.3%
Operating result €4.29M, net result €3.69M, both a record.
18-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
01-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
22-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Weakest financial yearnet €1.78M ▼35.7%
Net result drops to €1.78M, the lowest in the series; recovery starts the following year.
29-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Equity above €10MEq €10.77M ▲34.6%
2 profitable years in a row build equity to €10.77M.
Show earlier events
31-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
19-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
29-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 29 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
1 director, no change since 2026
David Van Eynde
CurrentDirector · since 28-07-2026
28-07-2026
David Van Eynde: Appointed as Director
28-07-2026
Wai Yan Kwong: Resigned as Director
Location & real-estate footprint
Registered office, Brugge · 1 establishment unit since 2008
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.
Caxtonweg K140-1438380 BruggeGround area
8.7 ha
Building footprint
1.2 ha
Volume, LiDAR
144,615 m³
Parcel 31812V0165/03B002, Flanders · tallest building 14.2 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
PSA Zeebrugge
since 20082.192.478.726
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31812V0165/03B002 | Flanders | 8.7 ha | 1 · 1.2 ha | 14.2 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.
Statutory auditor
1 auditor| KPMG BedrijfsrevisorenCurrent Statutory auditor · represented by Frederic Poesen | 30-06-2026 → present |
Structure & network
Connections & network
2 connected companiesLinked via shared directors
via David Van Eynde · Director
former→
via David Van Eynde · Director
former→
Similar companies · same sector, comparable size
DP World Zeebrugge Terminals
BE 0471.853.134
Beveren-Kruibeke-Zwijndrecht · Eq €26.79M
KALLO INDUSTRIES
BE 0451.034.360
Antwerpen · Eq €23.82M
POLYMER PROCESSING
BE 0457.525.145
Beveren-Kruibeke-Zwijndrecht · Eq €29.01M
BRABO, HAVENLOODSEN EN BOOTLIEDEN
BE 0404.756.848
Antwerpen · Eq €29.40M
ANTWERP CONTAINER TERMINAL
BE 0879.709.133
Gent · Eq €22.88M
Of 275 companies in sector 52241 we hold annual accounts for 212. 63 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded08-12-2008
Fiscal year end31-12
Activities, NACEBEL 2025
52220Warehousing and support activities for transportation
52241Warehousing and support activities for transportation
52250Logistics services
69201Certified accountants and tax accountants
Sources
Crossroads Bank for EnterprisesNational Bank · 17 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.