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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Tight liquidity NBB
Cash and receivables cover 52 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
PENSION DES SOURCES from Jalhay, company number BE0433995420, closed financial year 2025 with a result of € 65,978 after tax. For that financial year PENSION DES SOURCES recorded a gross margin of € 96,150 and equity of € 43,234. Compared with financial year 2024, the result moved from € 6,091 to € 65,978. Profitable, and profit is growing. 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 August 24, 2026.
€ 43,234
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 65,978
▲ € 59,888 vs 2024
Profit after tax over the fiscal year.
€ 446
▼ 96% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 65,978 paid out
100 % of the profit went to the shareholders, mostly to OSTARA PROJECT (100 % of the shares). That is where the money ends up.
Debts at end 2025
€ 369,267
▼ 30% vs 2024
€ 31,958 is repaid this year. At this pace the long-term loan is gone in ≈ 12 years.
€ 78
Supplier invoices still open on the last day of the fiscal year.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 32,313 | € 35,982 | € 40,291 | € 96,150 | ▲ 139% |
| Profit after taxes | € 1,792 | € 1,103 | € 6,091 | € 65,978 | ▲ € 59,888 |
| Equity | € 42,130 | € 43,234 | € 43,234 | € 43,234 | |
| Total debts | € 650,977 | € 592,580 | € 557,424 | € 448,169 | ▼ 20% |
| Cash | € 25,732 | € 20,114 | € 11,432 | € 446 | ▼ 96% |
| Land & buildings | € 634,899 | € 615,700 | € 589,225 | € 434,847 | ▼ 26% |
| Retained profit | € 23,530 | € 24,634 | € 24,634 | € 24,634 | |
| Dividend | € 0 | € 0 | € 6,091 | € 65,978 | ▲ € 59,888 |
| Bank debt | € 624,778 | € 569,353 | € 529,737 | € 369,267 | ▼ 30% |
| Balance sheet total | € 693,107 | € 635,813 | € 600,657 | € 491,402 | ▼ 18% |
Key figures of PENSION DES SOURCES, 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 PENSION DES SOURCES?
What happened at PENSION DES SOURCES in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 65,978 (▲ € 59,888 vs 2024). filed late Source: NBB ↗
- OSTARA PROJECT SRL became a director. NBB
- New establishment in Spa. KBO
- Start of the company according to the CBE. KBO
In short
From € 1,792 profit in 2022 to € 65,978 profit in 2025.
Paid € 999 in corporate taxes since 2022.
Best year ever: 2025, with € 65,978 profit.
Paid out € 72,069 in dividends to the owners in total.
Management
The stake of OSTARA PROJECT comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
PENSION DES SOURCESBehind PENSION DES SOURCES is OSTARA PROJECT SRL. The shares are held by OSTARA PROJECT (100%).
Directors
According to the 2025 annual accounts
Director · represented by Sandro FALZONE
Also active at: WINSTONE Agence Immobilière, INVESDRIMMO
since 2016
Shareholders
100%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Chemin de la Fontaine(SART) 46
4845 Jalhay
Chemin du Soyeureux 2
4900 Spa
Active since 28 April 1988
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 3 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.
Details
- Company number
- 0433.995.420
- VAT number
- BE 0433.995.420
- Registered office
- Chemin de la Fontaine(SART) 46, 4845 Jalhay
- Names & denominations
- PENSION DES SOURCES
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 1 January 1988
- Peppol
- Active · Active since 3 Nov 2025
- Activities · NACE
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