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 0 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
Partners in Coating from Aalst, company number BE0836097636, closed financial year 2025 with a result of € 37,702 after tax. For that financial year Partners in Coating recorded revenue of € 976,000 and equity of € 7.5 million. Compared with financial year 2024, the result moved from € 39,749 to € 37,702. The company is profitable. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on September 30, 2026.
€ 7.5 million
▲ 1% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 37,702
▼ 5% vs 2024
Profit after tax over the fiscal year.
€ 4,748
▲ 37% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € 7.4 million.
People and assets in 2025
1
Average over the fiscal year, from the social balance sheet.
€ 146,507
▲ 13% vs 2024
€ 146,500 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
€ 10.7 million
▼ 3% vs 2024
€ 1.5 million is repaid this year. At this pace the long-term loan is gone in ≈ 7 years.
€ 56,488
▼ 44% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 150 days on average.
€ 194,663
▼ 18% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 764,000 | € 976,000 | € 976,000 | € 976,000 | |
| Profit after taxes | € 1,564 | € 27,114 | € 39,749 | € 37,702 | ▼ 5% |
| Equity | € 7,350,180 | € 7,377,294 | € 7,417,043 | € 7,454,745 | ▲ 1% |
| Total debts | € 13,336,529 | € 13,274,632 | € 13,233,976 | € 13,197,550 | |
| Cash | € 3,173 | € 4,378 | € 3,472 | € 4,748 | ▲ 37% |
| Retained profit | € 7,288,680 | € 7,315,794 | € 7,355,543 | € 7,393,245 | ▲ 1% |
| Bank debt | € 11,837,528 | € 11,062,705 | € 10,948,651 | € 10,654,139 | ▼ 3% |
| Balance sheet total | € 20,686,709 | € 20,651,926 | € 20,651,020 | € 20,652,295 | |
| Employees (FTE) | 1 | 1 | 1 | 1 |
Key figures of Partners in Coating, 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 Partners in Coating?
What happened at Partners in Coating in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Blue Capital NV stepped down as director. NBB
- Adoxa BV stepped down as director. NBB
- Belbridge BV stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 37,702 (▼ 5% vs 2024). filed late Source: NBB ↗
- Adoxa BV became a director. NBB
- Blue Capital NV became a director. NBB
- Belbridge BV became a director. NBB
- Start of the company according to the CBE. KBO
In short
From € 1,564 profit in 2022 to € 37,702 profit in 2025.
Paid € 31,804 in corporate taxes since 2022.
Best year ever: 2024, with € 39,749 profit.
Pays suppliers within 150 days on average.
Management
The stake of BLUE CAPITAL, ADOXA comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
Partners in CoatingThe shares are held by BLUE CAPITAL (70%) and ADOXA (30%). It owns 100% of Azolla and 0.1% of Acotec itself.
Directors
According to the 2025 annual accounts
Managing director · represented by Wim Schalley
since 2020 · until 2031
since 2025 · until 2031
since 2020 · until 2031
Shareholders
70%
30%
Establishments
Establishment units
Physical locations of this company
Industrielaan 8
9320 Aalst
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.
Details
- Company number
- 0836.097.636
- VAT number
- BE 0836.097.636
- Registered office
- Industrielaan 8, 9320 Aalst
- Names & denominations
- Partners in Coating · PinC
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 9 May 2011
- Peppol
- Active · Active since 29 Sept 2025
- Activities · NACE
Activiteiten van holdings
Holdings
Handel in eigen onroerend goed