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 6 % of short-term debt in 2023; threshold 65 %.
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Shrinking team NBB
FTE fell two years in a row, from 5.9 to 4.5.
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Annual account missing NBB
Fiscal year 2024 was expected before 31 July 2025 and has not been filed.
Financials
Financial year 2023
PALMYRA BRANDS from Wommelgem, company number BE0819977424, closed financial year 2023 with a result of € -49.6 million after tax. For that financial year PALMYRA BRANDS recorded revenue of € 711,980 and equity of € 88.7 million. Compared with financial year 2022, the result moved from € 695,326 to € -49.6 million. The company made a loss. The company holds a healthy buffer. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on November 28, 2024.
€ 88.7 million
▼ 36% vs 2022
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -49.6 million
▼ still € 695,326 profit in 2022
Profit after tax over the fiscal year.
€ 13,804
▼ € 3.5 million vs 2022
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € 6.4 million.
People and assets in 2023
4.5
▼ 0.1 vs 2022
Average over the fiscal year, from the social balance sheet.
€ 329,284
▲ 7% vs 2022
€ 73,200 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.
€ 53,702
▼ 24% vs 2022
Book value of vehicles, furniture and equipment.
Debts at end 2023
€ 37.3 million
▼ 10% vs 2022
€ 2.3 million is repaid this year. At this pace the long-term loan is gone in ≈ 13 years.
€ 448,385
▼ 10% vs 2022
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 131 days on average.
€ 350,902
▲ € 303,758 vs 2022
Taxes, VAT and social contributions still to pay.
| 2021 | 2022 | 2023 | Change 2022 → 2023 | |
|---|---|---|---|---|
| Revenue | € 114,520 | € 323,578 | € 711,980 | ▲ 120% |
| Profit after taxes | € 38,186,768 | € 695,326 | € -49,617,903 | ▼ € 50.3 million |
| Equity | € 137,618,633 | € 138,313,959 | € 88,696,056 | ▼ 36% |
| Total debts | € 41,001,878 | € 42,075,295 | € 39,644,416 | ▼ 6% |
| Cash | € 3,691,668 | € 3,552,813 | € 13,804 | ▼ € 3.5 million |
| Land & buildings | € 3,935,136 | € 3,894,830 | € 3,820,017 | ▼ 2% |
| Retained profit | € 55,272,107 | € 55,972,428 | € 6,359,520 | ▼ 89% |
| Bank debt | € 37,507,062 | € 41,241,189 | € 37,284,593 | ▼ 10% |
| Balance sheet total | € 178,682,059 | € 180,448,705 | € 128,397,824 | ▼ 29% |
| Employees (FTE) | 5.9 | 4.6 | 4.5 | ▼ 0.1 |
Key figures of PALMYRA BRANDS, fiscal years 2021 to 2023, from the annual accounts filed with the National Bank of Belgium.The annual account for fiscal year 2024 has not been filed yet; it was expected before 31 July 2025.
What happened to PALMYRA BRANDS?
What happened at PALMYRA BRANDS in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- POEKA BV stepped down as director. NBB
- IRIDA BV stepped down as director. NBB
- VALRICHE BV stepped down as director. NBB
- New annual accounts for financial year 2023: loss of € 49.6 million (▼ € 50.3 million vs 2022). filed late Source: NBB ↗
- POEKA BV became a director. NBB
- IRIDA BV became a director. NBB
- VALRICHE BV became a director. NBB
- Start of the company according to the CBE. KBO
In short
From € 38.2 million profit in 2021 to € 49.6 million loss in 2023.
Paid € 300,597 in corporate taxes since 2021.
Best year ever: 2021, with € 38.2 million profit.
Pays suppliers within 131 days on average.
Management
It owns 100% of STICHTING SOURZ FOODS, 100% of NOTTE-VANDENBOSCH, 100% of ORELIA GROUP, 100% of BEUKENWOUD and 6.6% of OVIZIO IMAGING SYSTEMS itself.
Directors
According to the 2023 annual accounts
Director · represented by Jan Van den Brande
Also active at: HABRO, VAERT, ORELIA BOUW, ORELIA GERMANY, WZC SCHOTEN, Notte-Vandebosch, Les Hommes Group, BEUKENWOUD +15 more
since 2021 · until 2027
Managing director · represented by Lodewijk Van den Brande
Also active at: MUSSENHOEVE, VAERT, ORELIA BOUW, ORELIA GERMANY, DE MOLEN VAN BOECHOUT, WZC SCHOTEN, Notte-Vandebosch, Les Hommes Group +19 more
since 2021 · until 2027
Director · represented by Dirk Van den Brande
Also active at: Les Hommes Group, BEUKENWOUD, ORELIA GROUP, ORELIA TER BEUKEN, ORELIA ZORG, ORELIA INTERNATIONAL, ORELIA
since 2021 · until 2027
Establishments
Establishment units
Physical locations of this company
Selsaetenstraat 50 B
2160 Wommelgem
Selsaetenstraat 50
2160 Wommelgem
Active since 21 October 2009
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 1 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
- 0819.977.424
- VAT number
- BE 0819.977.424
- Registered office
- Selsaetenstraat 50 B, 2160 Wommelgem
- Names & denominations
- PALMYRA BRANDS
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 22 October 2009
- Peppol
- Active · Active since 6 Aug 2026
- Activities · NACE
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