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 3 of the last 4 fiscal years.
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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 19 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
Pulsar Power from Nazareth-De Pinte, company number BE0761928565, closed financial year 2025 with a result of € -577,893 after tax. For that financial year Pulsar Power recorded a gross margin of € -200,429 and equity of € -300,336. Compared with financial year 2024, the result moved from € -361,693 to € -577,893. The company made a loss. 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 7, 2026.
€ -300,336
▲ € 422,107 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -577,893
▼ 60 % more loss than in 2024
Profit after tax over the fiscal year.
€ 24,224
▼ 12% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -1.6 million.
People and assets in 2025
1
▼ 7.3 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 80,360
▼ 79% vs 2024
€ 80,400 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.
Debts at end 2025
€ 323,768
▼ 79% vs 2024
€ 126,389 is repaid this year. At this pace the long-term loan is gone in ≈ 3 years.
€ 379,215
▲ 91% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 26,553
▼ 26% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 487,898 | € 64,364 | € 239,386 | € -200,429 | ▼ € 439,815 |
| Profit after taxes | € 14,400 | € -656,149 | € -361,693 | € -577,893 | ▼ € 216,200 |
| Equity | € 15,400 | € -360,750 | € -722,443 | € -300,336 | ▲ € 422,107 |
| Total debts | € 575,899 | € 1,377,722 | € 1,771,428 | € 1,152,728 | ▼ 35% |
| Cash | € 136,423 | € 52,375 | € 27,609 | € 24,224 | ▼ 12% |
| Retained profit | € 14,400 | € -641,750 | € -1,003,443 | € -1,581,336 | ▼ € 577,893 |
| Bank debt | € 183,915 | € 547,212 | € 1,531,718 | € 323,768 | ▼ 79% |
| Balance sheet total | € 591,299 | € 1,016,972 | € 1,048,986 | € 852,392 | ▼ 19% |
| Employees (FTE) | 3.7 | 8.3 | 8.3 | 1 | ▼ 7.3 |
Key figures of Pulsar Power, 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 Pulsar Power?
What happened at Pulsar Power in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 577,893. filed late Source: NBB ↗
- Jean-Michel Baetslé became a director. NBB
- New establishment in Nazareth-De Pinte. KBO
- Start of the company according to the CBE. KBO
In short
From € 14,400 profit in 2022 to € 577,893 loss in 2025.
Paid € 10,177 in corporate taxes since 2022.
Best year ever: 2022, with € 14,400 profit.
On average € 28,800 of value added per employee in 2024.
Management
The stake of PerPetum Group, NAVITAS PROJECTS comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
Pulsar PowerBehind Pulsar Power is Jean-Michel Baetslé. The shares are held by PerPetum Group (100%) and NAVITAS PROJECTS (50%).
Directors
According to the 2025 annual accounts
since 2025
Shareholders
100%
50%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Begoniastraat 34
9810 Nazareth-De Pinte
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 4 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
Certifications & Partners
Hosting & Email
Email provider
Microsoft 365
Hosting
COMBELL-AS, BE
Domain
Domain
pulsarpower.eu
Registrar
Combell NV
Website info
Features
Security
Details
- Company number
- 0761.928.565
- VAT number
- BE 0761.928.565
- Registered office
- Begoniastraat 34, 9810 Nazareth-De Pinte
- Names & denominations
- Pulsar Power
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 22 January 2021
- Peppol
- Active · Active since 5 Mar 2026
- Activities · NACE
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