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 54 % of short-term debt in 2026; threshold 65 %.
Financials
Financial year 2026
PAVAR from Menen, company number BE0811829820, closed financial year 2026 with a result of € 1,008 after tax. For that financial year PAVAR recorded a gross margin of € 59,614 and equity of € 190,441. Compared with financial year 2025, the result moved from € 44,279 to € 1,008. The company is profitable. The buffer is growing. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on October 2, 2026.
€ 190,441
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 1,008
▼ 98% vs 2025
Profit after tax over the fiscal year.
€ 60,020
▲ 10% vs 2025
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2026. Retained profit grew to € 167,407.
People and assets in 2026
0
Average over the fiscal year, from the social balance sheet.
€ 47,112
▼ 25% vs 2025
Of which on lease € 46,203.
Debts at end 2026
€ 169,767
▼ 33% vs 2025
€ 83,808 is repaid this year. At this pace the long-term loan is gone in ≈ 2 years.
€ 79,572
▼ 20% vs 2025
Supplier invoices still open on the last day of the fiscal year.
| 2023 | 2024 | 2025 | 2026 | Change 2025 → 2026 | |
|---|---|---|---|---|---|
| Gross margin | € 86,587 | € 306,130 | € 114,879 | € 59,614 | ▼ 48% |
| Profit after taxes | € 39,112 | € 258,721 | € 44,279 | € 1,008 | ▼ 98% |
| Equity | € -111,349 | € 146,633 | € 190,172 | € 190,441 | |
| Total debts | € 811,751 | € 549,509 | € 514,931 | € 404,807 | ▼ 21% |
| Cash | € 79,728 | € 45,922 | € 54,502 | € 60,020 | ▲ 10% |
| Land & buildings | € 302,283 | € 271,289 | € 240,296 | € 209,303 | ▼ 13% |
| Retained profit | € -136,601 | € 122,120 | € 166,399 | € 167,407 | ▲ 1% |
| Bank debt | € 346,245 | € 272,152 | € 253,573 | € 169,767 | ▼ 33% |
| Balance sheet total | € 700,402 | € 696,142 | € 705,104 | € 595,248 | ▼ 16% |
Key figures of PAVAR, fiscal years 2023 to 2026, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2027) expected before 31 October 2027.
What happened to PAVAR?
What happened at PAVAR in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2026: profit of € 1,008 (▼ 98% vs 2025). Source: NBB ↗
- New establishment in Menen. KBO
- Carl Pauwelyn became a director. NBB
- Start of the company according to the CBE. KBO
In short
From € 39,112 profit in 2023 to € 1,008 profit in 2026.
Paid € 10,599 in corporate taxes since 2023.
Best year ever: 2024, with € 258,721 profit.
Management
Behind PAVAR is Carl Pauwelyn. The shares are held by Karolien Glorieux and Carl Pauwelyn.
Directors
According to the 2026 annual accounts
Carl Pauwelyn
Director
Is a shareholder
since 2009
Shareholders
Karolien Glorieux
Carl Pauwelyn · director
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Boerendreef 80
8930 Menen
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0811.829.820
- VAT number
- BE 0811.829.820
- Registered office
- Boerendreef 80, 8930 Menen
- Names & denominations
- PAVAR
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 20 May 2009
- Peppol
- Active · Active since 1 Jan 2001
- Activities · NACE
Gemengd landbouwbedrijf
Fokvarkenshouderijen
Groothandel in veevoeders