Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Shrinking team NBB
FTE fell two years in a row, from 34.1 to 30.5.
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Busy address KBO
21 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
PGS Rec Belgium from Gistel, company number BE0760987368, closed financial year 2025 with a result of € 395,046 after tax. For that financial year PGS Rec Belgium recorded a gross margin of € 2.3 million and equity of € 1.6 million. Compared with financial year 2024, the result moved from € 194,253 to € 395,046. 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 April 2, 2026.
€ 1.6 million
▲ 33% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 395,046
▲ 103% vs 2024
Profit after tax over the fiscal year.
€ 32,777
▼ 27% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € 1.3 million.
People and assets in 2025
30.5
▼ 1 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 1.7 million
▲ 9% vs 2024
€ 56,400 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.
€ 6,422
▼ 45% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 241,302
Loans from banks and other lenders, long and short.
€ 404,965
▲ 41% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 219,969
▲ 27% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 3,561,302 | € 1,778,717 | € 1,862,996 | € 2,257,911 | ▲ 21% |
| Profit after taxes | € 759,723 | € 77,468 | € 194,253 | € 395,046 | ▲ 103% |
| Equity | € 941,723 | € 990,091 | € 1,184,344 | € 1,579,390 | ▲ 33% |
| Total debts | € 857,279 | € 609,271 | € 468,533 | € 872,983 | ▲ 86% |
| Cash | € 75,393 | € 445,737 | € 45,199 | € 32,777 | ▼ 27% |
| Retained profit | € 691,723 | € 740,091 | € 934,344 | € 1,329,390 | ▲ 42% |
| Bank debt | € 45,253 | € 0 | € 0 | € 241,302 | |
| Balance sheet total | € 1,799,002 | € 1,599,362 | € 1,652,877 | € 2,452,373 | ▲ 48% |
| Employees (FTE) | 36.1 | 34.1 | 31.5 | 30.5 | ▼ 1 |
Key figures of PGS Rec Belgium, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 30 April 2027.
What happened to PGS Rec Belgium?
What happened at PGS Rec Belgium in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 395,046 (▲ 103% vs 2024). Source: NBB ↗
- Jadal SAS became a director. NBB
- Edfanzac SAS became a director. NBB
- Grauwet Roger BV became a director. NBB
- Graco BV became a director. NBB
- New establishment in Gistel. KBO
- New establishment in Oostende. KBO
- Start of the company according to the CBE. KBO
In short
From € 759,723 profit in 2022 to € 395,046 profit in 2025.
Paid € 515,256 in corporate taxes since 2022.
Best year ever: 2022, with € 759,723 profit.
On average € 74,000 of value added per employee in 2025.
A new publication or filing at PGS Rec Belgium? 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 stake of PGS RDB Pallets comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
PGS Rec BelgiumBehind PGS Rec Belgium are Jadal SAS, Edfanzac SAS, Grauwet Roger BV and Graco BV. The shares are held by PGS RDB Pallets (100%).
Directors
According to the 2025 annual accounts
Jadal SAS
Director · represented by Jean-Louis Louvel
Also active at: PGS RODANAR PALLETS, PGS De Backer Pallets, PGS Demey
since 2022
Edfanzac SAS
Director · represented by Michaël Modugno
Also active at: PGS RODANAR PALLETS, PGS Demey
since 2022
Director · represented by Roger Grauwet
Also active at: PGS RODANAR PALLETS, PGS De Backer Pallets, PGS MATON, PGS PALLETHANDEL EELEN, PGS RDB Pallets, Nails Of Flanders, PGS RECON, Demey Ronse +2 more
since 2021
Director · represented by Luc Grauwet
Also active at: PGS RODANAR PALLETS, PGS De Backer Pallets, PGS MATON, White Field Development, PGS PALLETHANDEL EELEN, Nails Of Flanders, PGS RECON, Demey Ronse +3 more
since 2021
Shareholders
100%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Torhoutse Baan 5 box .02
8470 Gistel
Steenovenstraat 9
8470 Gistel
Active since 7 January 2021
Dokter Paul Janssenlaan 5
8400 Oostende
Active since 7 January 2021
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 21 companies are registered at this address.
All companies at this address →FINIMMO 9600
€ 32,627 gross margin · 2025
PGS RODANAR PALLETS same network
€ 50.5 million revenue · 2025
PGS De Backer Pallets same network
€ 49.3 million revenue · 2025
White Field Development same network
€ 161,870 gross margin · 2025
PGS SPECIAL PACKAGING same network
€ 209,625 gross margin · 2025
+16 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0760.987.368
- VAT number
- BE 0760.987.368
- Registered office
- Torhoutse Baan 5 bus .02, 8470 Gistel
- Names & denominations
- PGS Rec Belgium
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 7 January 2021
- Peppol
- Active · Active since 1 Jan 2001
- Contact
- [email protected]
- Activities · NACE
Vervaardiging van houten emballage
Activiteiten van holdings
Activiteiten van adviesbureaus op het gebied van bedrijfsvoering en overig managementadvies
Groothandel in hout
Verhuur en lease van landbouwmachines en -werktuigen
Overige adviesbureaus op het gebied van bedrijfsbeheer; adviesbureaus op het gebied van bedrijfsvoering
Holdings