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 61 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
RE Panels 3 from Tournai, company number BE0732813521, closed financial year 2025 with a result of € 11.8 million after tax. For that financial year RE Panels 3 recorded a gross margin of € 12.1 million and equity of € 81.4 million. Compared with financial year 2024, the result moved from € -3.8 million to € 11.8 million. Profitable, and profit is growing. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on August 29, 2026.
€ 81.4 million
▲ 6% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 11.8 million
▲ still € 3.8 million loss in 2024
Profit after tax over the fiscal year.
€ 13.7 million
▲ € 10.9 million vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 7 million paid out
59 % of the profit went to the shareholders, mostly to RE PANELS 2 (100 % of the shares). That is where the money ends up.
People and assets in 2025
3.6
▲ 0.9 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 1.3 million
▲ 38% vs 2024
€ 374,800 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.
€ 93,389
▲ 110% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 67.6 million
▼ 6% vs 2024
€ 4.6 million is repaid this year. At this pace the long-term loan is gone in ≈ 15 years.
€ 48.5 million
▲ € 42.7 million vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 492,499
▲ 257% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 150,623 | € -226,739 | € 712,366 | € 12,112,551 | ▲ € 11.4 million |
| Profit after taxes | € 2,931,019 | € 4,939,724 | € -3,844,293 | € 11,777,376 | ▲ € 15.6 million |
| Equity | € 75,562,528 | € 80,502,252 | € 76,657,960 | € 81,435,335 | ▲ 6% |
| Total debts | € 80,476,348 | € 77,532,204 | € 82,778,723 | € 124,361,177 | ▲ 50% |
| Cash | € 132,272 | € 203,038 | € 2,747,217 | € 13,669,707 | ▲ € 10.9 million |
| Retained profit | € 8,101,028 | € 13,040,752 | € 9,196,460 | € 13,973,835 | ▲ 52% |
| Dividend | € 0 | € 0 | € 0 | € 7,000,000 | |
| Bank debt | € 79,400,000 | € 75,801,069 | € 71,707,330 | € 67,604,634 | ▼ 6% |
| Balance sheet total | € 156,038,876 | € 158,034,457 | € 159,436,683 | € 205,796,512 | ▲ 29% |
| Employees (FTE) | 1.9 | 1.8 | 2.7 | 3.6 | ▲ 0.9 |
Key figures of RE Panels 3, 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 RE Panels 3?
What happened at RE Panels 3 in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Simon Matthis TABELLION stepped down as director. NBB
- Luc DE DEYGERE stepped down as director. NBB
- Mihir KOTECHA stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 11.8 million. filed late Source: NBB ↗
- New establishment in Tournai. KBO
- Simon Matthis TABELLION became a director. NBB
- Luc DE DEYGERE became a director. NBB
- Mihir KOTECHA became a director. NBB
In short
From € 2.9 million profit in 2022 to € 11.8 million profit in 2025.
Paid € 301,992 in corporate taxes since 2022.
Best year ever: 2025, with € 11.8 million profit.
On average € 3.4 million of value added per employee in 2025.
A new publication or filing at RE Panels 3? We notify you, reason included.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The shares are held by RE PANELS 2 (100%). It owns 100% of EPCO itself.
Directors
According to the 2025 annual accounts
since 2023 · until 2029
since 2022 · until 2027
since 2022 · until 2027
Shareholders
100%
Participations
100%
Establishments
Establishment units
Physical locations of this company
Rue du Bois des Hospices(BL) 3
7522 Tournai
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
- 0732.813.521
- VAT number
- BE 0732.813.521
- Registered office
- Rue du Bois des Hospices(BL) 3, 7522 Tournai
- Names & denominations
- RE Panels 3
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 23 August 2019
- Peppol
- Active · Active since 10 Nov 2025
- Activities · NACE
Activiteiten van holdings
Activiteiten van adviesbureaus op het gebied van bedrijfsvoering en overig managementadvies
Holdings
Overige adviesbureaus op het gebied van bedrijfsbeheer; adviesbureaus op het gebied van bedrijfsvoering
Administratieve en ondersteunende activiteiten ten behoeve van kantoren
Overige zakelijke dienstverlening, neg
Diverse administratieve activiteiten ten behoeve van kantoren