Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Two loss years in a row NBB
Negative result in 2025 and 2026.
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Board fully replaced NBB
No director from three years ago is still active according to annual account 2026.
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Busy address KBO
15 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2026
PP RETAIL HOLDING from Brussel, company number BE0833211687, closed financial year 2026 with a result of € -14.1 million after tax. Compared with financial year 2025, the result moved from € -338,568 to € -14.1 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 July 17, 2026.
€ 30.5 million
▼ 35% vs 2025
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -14.1 million
▼ 4078 % more loss than in 2025
Profit after tax over the fiscal year.
€ 227
▼ 84% vs 2025
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -14.1 million.
Debts at end 2026
€ 55,501
▼ 92% vs 2025
Loans from banks and other lenders, long and short.
€ 1,635
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 26 days on average.
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| 2023 | 2024 | 2025 | 2026 | Change 2025 → 2026 | |
|---|---|---|---|---|---|
| Revenue | € 1,674 | - | - | - | |
| Profit after taxes | € -147,976 | € -329,500 | € -338,568 | € -14,145,262 | ▼ € 13.8 million |
| Equity | € 47,286,371 | € 46,956,871 | € 46,618,304 | € 30,473,042 | ▼ 35% |
| Total debts | € 6,669,733 | € 6,405,615 | € 6,132,820 | € 6,590,405 | ▲ 7% |
| Cash | € 76 | € 1,103 | € 1,463 | € 227 | ▼ 84% |
| Retained profit | € -8,616,129 | € -8,945,629 | € -9,284,196 | € -14,121,458 | ▼ € 4.8 million |
| Bank debt | € 1,833,498 | € 1,307,764 | € 700,364 | € 55,501 | ▼ 92% |
| Balance sheet total | € 53,956,104 | € 53,362,486 | € 52,751,124 | € 37,063,447 | ▼ 30% |
Key figures of PP RETAIL HOLDING, 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 August 2027.
What happened to PP RETAIL HOLDING?
What happened at PP RETAIL HOLDING in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2026: loss of € 14.1 million. Source: NBB ↗
- Joachim Rubin became a director. NBB
- Griet Sauvenay became a director. NBB
- Elodie Doret became a director. NBB
- Dan APPELSTEIN stepped down as director. NBB
- Stephan JEGER stepped down as director. NBB
- Jacques APPELSTEIN stepped down as director. NBB
- Dan APPELSTEIN became a director. NBB
In short
From € 147,976 loss in 2023 to € 14.1 million loss in 2026.
Pays suppliers within 26 days on average.
A new publication or filing at PP RETAIL HOLDING? 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
Behind PP RETAIL HOLDING are Joachim Rubin , Griet Sauvenay and Elodie Doret. It owns 100% of L&L RETAIL FRANCE, 100% of BLUE STORES, 100% of L&L RETAIL BELGIUM, 99.9% of PP RETAIL LOGISTICS, 99.9% of Linelux and 99.9% of PP RETAIL SERVICES itself.
Directors
According to the 2026 annual accounts
Joachim Rubin
Managing director
Also active at: BLUE STORES, L&L RETAIL BELGIUM, PROPERTY WORTH, PASSION8, PP RETAIL SERVICES, PP RETAIL LOGISTICS
since 2026
Griet Sauvenay
Director
Also active at: BLUE STORES, L&L RETAIL BELGIUM, PP RETAIL SERVICES, PP RETAIL LOGISTICS
since 2026
since 2026
Dan APPELSTEIN
Director
Also active at: BLUE STORES, FAMCO, L&L RETAIL BELGIUM, QS LOGISTICS, STEINCO, ALIVNOT, ALIVSTONE
since 2022 · until 2026
Stephan JEGER
Managing director
· until 2026
Jacques APPELSTEIN
Managing director
Also active at: BLUE STORES, QS LOGISTICS, PP RETAIL SERVICES, PP RETAIL LOGISTICS
· until 2026
Establishments
Establishment units
Physical locations of this company
Zaterdagplein 1
1000 Brussel
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 15 companies are registered at this address.
All companies at this address →BLUE STORES same network
€ 54.4 million revenue · 2026
IMMO APPELS
€ 946,093 gross margin · 2025
A & S DISTRIBUTION
€ 562,313 gross margin · 2025
FAMCO same network
€ -85 gross margin · 2025
L&L RETAIL BELGIUM same network
€ 72.6 million revenue · 2026
+10 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
- 0833.211.687
- VAT number
- BE 0833.211.687
- Registered office
- Zaterdagplein 1, 1000 Brussel
- Names & denominations
- PP RETAIL HOLDING
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 18 January 2011
- Peppol
- Active · Active since 26 Aug 2025