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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Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 22 % of short-term debt in 2025; threshold 65 %.
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Not on Peppol Peppol
Not registered in the Peppol network, mandatory for VAT-liable companies since 1 January 2026.
Financials
Financial year 2025
UNITED GROUP from Gent, company number BE0789802704, closed financial year 2025 with a result of € -1 million after tax. For that financial year UNITED GROUP recorded a gross margin of € -85,999 and equity of € 1.8 million. Compared with financial year 2024, the result moved from € -442,594 to € -1 million. The company made a loss. 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 28, 2026.
€ 1.8 million
▼ 37% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -1 million
▼ 131 % more loss than in 2024
Profit after tax over the fiscal year.
€ 15,870
▼ 87% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -738,240.
People and assets in 2025
0
Average over the fiscal year, from the social balance sheet.
€ 25,320
▼ 21% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 11.3 million
▼ 6% vs 2024
€ 1.9 million is repaid this year. At this pace the long-term loan is gone in ≈ 6 years.
€ 118,551
▲ 147% vs 2024
Supplier invoices still open on the last day of the fiscal year.
| 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|
| Gross margin | € 623,863 | € 173,117 | € -85,999 | ▼ € 259,116 |
| Profit after taxes | € -247,984 | € -442,594 | € -1,022,966 | ▼ € 580,372 |
| Equity | € 3,235,570 | € 2,792,977 | € 1,770,011 | ▼ 37% |
| Total debts | € 13,374,680 | € 13,442,841 | € 12,702,071 | ▼ 6% |
| Cash | € 117,977 | € 124,110 | € 15,870 | ▼ 87% |
| Retained profit | € 727,319 | € 284,726 | € -738,240 | ▼ € 1 million |
| Bank debt | € 12,698,770 | € 12,042,031 | € 11,299,535 | ▼ 6% |
| Balance sheet total | € 16,610,250 | € 16,235,818 | € 14,472,082 | ▼ 11% |
Key figures of UNITED GROUP, fiscal years 2023 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 UNITED GROUP?
What happened at UNITED GROUP in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 1 million. filed late Source: NBB ↗
- New establishment in Gent. KBO
- Start of the company according to the CBE. KBO
In short
From € 247,984 loss in 2023 to € 1 million loss in 2025.
Paid € 20 in corporate taxes since 2023.
Management
The stake of PASCUAL GROUP, INFISO comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
UNITED GROUPBehind UNITED GROUP are Infiso NV, Joeri Roger Pascual-Madorran, Pascual Group BV and Taleos Comm.V. The shares are held by PASCUAL GROUP (50%) and INFISO (50%). It owns 100% of United Games itself.
Directors
According to the 2025 annual accounts
Director · represented by Victor Bosquin
Also active at: UNIMMO, Seeben, Unibox Games, Creficom, NACO, SKILLSHOT, CENTRALE DES JEUX, Willy Michiels Company +15 more
Director · represented by Carlos Pascual-Madorran
Also active at: PASCUAL CONSULT, C-GAMES, PASCUAL INVEST, PASCUAL GAMING, Pascual Invest Speelhallen
Director · represented by Nicolas Thomsin
Also active at: UNIMMO, Seeben, NACO, SKILLSHOT, CENTRALE DES JEUX, Willy Michiels Company, EURAUTOMAT, BINGO LUX +14 more
Shareholders
50%
50%
Participations
100%
Establishments
Establishment units
Physical locations of this company
Wondelgemkaai 15
9000 Gent
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 7 companies are registered at this address.
All companies at this address →EURAUTOMAT same network
€ 1.2 million gross margin · 2025
C-GAMES same network
€ 724,104 gross margin · 2025
UNITED GAMES same network
€ 10 million gross margin · 2025
PASCUAL GROUP same network
€ 1.8 million gross margin · 2025
BTW-EENHEID PASCUAL
+2 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
- 0789.802.704
- VAT number
- BE 0789.802.704
- Registered office
- Wondelgemkaai 15, 9000 Gent
- Names & denominations
- UNITED GROUP
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 19 August 2022
- Peppol
- Not registered
- Activities · NACE
Activiteiten van holdings