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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Negative equity NBB
More debt than assets in 4 of the last 4 fiscal years.
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Tight liquidity NBB
Cash and receivables cover 15 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
PAM from Gent, company number BE0691778264, closed financial year 2025 with a result of € 633 after tax. For that financial year PAM recorded a gross margin of € 5,079 and equity of € -11,088. Compared with financial year 2023, the result moved from € 169 to € 633. Profitable, and profit is growing. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on August 31, 2026.
€ -11,088
▲ € 3,361 vs 2023
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 633
▲ 275% vs 2023
Profit after tax over the fiscal year.
€ 2,494
▼ 51% vs 2023
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € -29,688.
Debts at end 2025
€ 12,876
▼ 50% vs 2023
Loans from banks and other lenders, long and short.
€ 2,200
▲ 213% vs 2023
Supplier invoices still open on the last day of the fiscal year.
| 2021 | 2022 | 2023 | 2025 | Change 2023 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 3,108 | € 4,781 | € 7,925 | € 5,079 | ▼ 36% |
| Profit after taxes | € -7,144 | € -6,290 | € 169 | € 633 | ▲ 275% |
| Equity | € -8,328 | € -14,618 | € -14,450 | € -11,088 | ▲ € 3,361 |
| Total debts | € 78,474 | € 71,146 | € 69,008 | € 62,278 | ▼ 10% |
| Cash | € 4,580 | € 674 | € 5,058 | € 2,494 | ▼ 51% |
| Land & buildings | € 55,710 | € 52,321 | € 48,933 | € 42,156 | ▼ 14% |
| Retained profit | € -26,928 | € -33,218 | € -33,050 | € -29,688 | ▲ € 3,361 |
| Bank debt | € 37,871 | € 31,715 | € 25,497 | € 12,876 | ▼ 50% |
| Balance sheet total | € 70,146 | € 56,528 | € 54,559 | € 51,189 | ▼ 6% |
Key figures of PAM, fiscal years 2021 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 PAM?
What happened at PAM in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 633 (▲ 275% vs 2023). filed late Source: NBB ↗
- New establishment in Gent. KBO
- Start of the company according to the CBE. KBO
In short
From € 7,144 loss in 2021 to € 633 profit in 2025.
Paid € 76 in corporate taxes since 2021.
Best year ever: 2025, with € 633 profit.
Management
Behind PAM are Anne-Elisabeth Vercruysse and Paul Mertens.
Directors
According to the 2025 annual accounts
Anne-Elisabeth Vercruysse
Director
Paul Mertens
Director
Establishments
Establishment units
Physical locations of this company
Congreslaan 20
9000 Gent
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 2 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
- 0691.778.264
- VAT number
- BE 0691.778.264
- Registered office
- Congreslaan 20, 9000 Gent
- Names & denominations
- PAM
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 6 March 2018
- Peppol
- Active · Active since 4 Jan 2026
- Activities · NACE
Activiteiten van syndici van onroerend goed