Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 31 % of short-term debt in 2025; threshold 65 %.
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Shrinking team NBB
FTE fell two years in a row, from 39.4 to 33.1.
Financials
Financial year 2025
PAUWELS from Ninove, company number BE0417904209, closed financial year 2025 with a result of € -238,694 after tax. For that financial year PAUWELS recorded revenue of € 5.4 million and equity of € 781,948. Compared with financial year 2024, the result moved from € -93,046 to € -238,694. The company made a loss. The company holds a healthy buffer. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on July 16, 2026.
€ 781,948
▼ 23% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -238,694
▼ 157 % more loss than in 2024
Profit after tax over the fiscal year.
€ 77,513
▼ 46% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € 161,948.
People and assets in 2025
33.1
▼ 2.8 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 2.2 million
▼ 6% vs 2024
€ 65,900 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 55,239
▼ 41% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 2.5 million
▼ 10% vs 2024
€ 366,022 is repaid this year. At this pace the long-term loan is gone in ≈ 5 years.
€ 818,515
▲ 9% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 90 days on average.
€ 300,222
▲ 12% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 7,395,631 | € 6,602,252 | € 5,465,578 | € 5,398,259 | ▼ 1% |
| Profit after taxes | € 311,854 | € -2,773,247 | € -93,046 | € -238,694 | ▼ € 145,647 |
| Equity | € 3,886,934 | € 1,113,688 | € 1,020,641 | € 781,948 | ▼ 23% |
| Total debts | € 6,078,319 | € 5,111,974 | € 5,116,504 | € 5,465,857 | ▲ 7% |
| Cash | € 566,438 | € 219,038 | € 144,413 | € 77,513 | ▼ 46% |
| Land & buildings | € 244,028 | € 217,463 | € 191,612 | € 188,644 | ▼ 2% |
| Retained profit | € 3,266,934 | € 493,688 | € 400,641 | € 161,948 | ▼ 60% |
| Bank debt | € 3,655,160 | € 3,136,339 | € 2,770,647 | € 2,497,600 | ▼ 10% |
| Balance sheet total | € 9,965,253 | € 6,225,662 | € 6,137,146 | € 6,247,805 | ▲ 2% |
| Employees (FTE) | 41.7 | 39.4 | 35.9 | 33.1 | ▼ 2.8 |
Key figures of PAUWELS, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to PAUWELS?
What happened at PAUWELS in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Algim stepped down as director. NBB
- Falcon Fund Management stepped down as director. NBB
- BFF Glass stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 238,694. Source: NBB ↗
- Algim became a director. NBB
- Falcon Fund Management became a director. NBB
- BFF Glass became a director. NBB
- New establishment in Ninove. KBO
In short
From € 311,854 profit in 2022 to € 238,694 loss in 2025.
Paid € 52,588 in corporate taxes since 2022.
Best year ever: 2022, with € 311,854 profit.
Pays suppliers within 90 days on average.
Management
The stake of BFF GLASS comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
PAUWELSThe shares are held by BFF GLASS (100%). It owns 100% of Pauwels Glassprojects nv, 74.9% of G & G Construct bv and 70% of Vierkante meters bv itself.
Directors
According to the 2025 annual accounts
Director · represented by Thomas De Duytsche
Also active at: J.L. Hertsens, Day By Day Courier Service, ON TIME SOLUTIONS, Pauwels Construct, JACRIMAR, M.Ex.T. BELGIUM, G & G CONSTRUCT, On Time Distribution +31 more
since 2022 · until 2028
Director · represented by Koen Perdu
Also active at: Pauwels Construct, G & G CONSTRUCT, PAUWELS GLASSPROJECTS, VIERKANTE METERS
since 2022 · until 2028
Managing director · represented by Fauquette Charles
Also active at: Pauwels Construct, G & G CONSTRUCT, BFF GLASS, PAUWELS GLASSPROJECTS
since 2024 · until 2030
Shareholders
100%
Participations
Establishments
Establishment units
Physical locations of this company
Ten Beukeboom(App) 11
9400 Ninove
Kapittelstraat(App) 147 box 167
9400 Ninove
Active since 1 September 2010
Brakelsesteenweg(App) 462
9400 Ninove
Active since 1 January 2019
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 1 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Website
Technologies
Hosting & Email
Email provider
Microsoft 365
Hosting
COMBELL-AS, BE
Website info
Features
Security
Network
Details
- Company number
- 0417.904.209
- VAT number
- BE 0417.904.209
- Registered office
- Ten Beukeboom(App) 11, 9400 Ninove
- Names & denominations
- PAUWELS
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 1 January 1978
- Peppol
- Active · Active since 10 Dec 2025
- Contact
- lievenpauwels.be
- Activities · NACE
Vervaardiging van metalen deuren en vensters
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