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 59 % of short-term debt in 2026; threshold 65 %.
Financials
Financial year 2026
P&V Panels from Heusden-Zolder, company number BE0838329428, closed financial year 2026 with a result of € 2.6 million after tax. For that financial year P&V Panels recorded revenue of € 69.6 million and equity of € 13.4 million. Compared with financial year 2025, the result moved from € 1.4 million to € 2.6 million. Profitable, and profit is growing. The buffer is growing. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on September 28, 2026.
€ 13.4 million
▲ 24% vs 2025
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 2.6 million
▲ 83% vs 2025
Profit after tax over the fiscal year.
€ 2.6 million
▲ 79% 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 € 12.5 million.
People and assets in 2026
208.8
▲ 11.1 vs 2025
Average over the fiscal year, from the social balance sheet.
€ 15 million
▲ 9% vs 2025
€ 71,900 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.
€ 395,666
▲ 7% vs 2025
Of which on lease € 32,299.
Debts at end 2026
€ 4.4 million
▼ 3% vs 2025
€ 704,437 is repaid this year. At this pace the long-term loan is gone in ≈ 2 years.
€ 12.8 million
▲ 7% vs 2025
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 94 days on average.
€ 3.4 million
▲ 5% vs 2025
Taxes, VAT and social contributions still to pay.
| 2022 | 2024 | 2025 | 2026 | Change 2025 → 2026 | |
|---|---|---|---|---|---|
| Revenue | € 47,355,811 | € 76,718,024 | € 67,000,656 | € 69,592,939 | ▲ 4% |
| Profit after taxes | € 915,506 | € 2,970,239 | € 1,424,693 | € 2,610,816 | ▲ 83% |
| Equity | € 6,373,728 | € 9,343,966 | € 10,768,660 | € 13,379,476 | ▲ 24% |
| Total debts | € 28,607,340 | € 25,560,178 | € 25,442,577 | € 26,456,610 | ▲ 4% |
| Cash | € 2,754,313 | € 1,032,415 | € 1,461,920 | € 2,623,083 | ▲ 79% |
| Land & buildings | € 96,668 | € 89,679 | € 136,146 | € 140,078 | ▲ 3% |
| Retained profit | € 5,537,368 | € 8,507,606 | € 9,932,300 | € 12,543,116 | ▲ 26% |
| Dividend | € 105,580 | € 0 | € 0 | € 0 | |
| Bank debt | € 10,980,494 | € 4,560,153 | € 4,531,148 | € 4,389,444 | ▼ 3% |
| Balance sheet total | € 34,989,677 | € 34,912,754 | € 36,219,847 | € 39,844,695 | ▲ 10% |
| Employees (FTE) | 194 | 201.7 | 197.7 | 208.8 | ▲ 11.1 |
Key figures of P&V Panels, fiscal years 2022 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 P&V Panels?
What happened at P&V Panels in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Vramaco bv stepped down as director. NBB
- New annual accounts for financial year 2026: profit of € 2.6 million (▲ 83% vs 2025). Source: NBB ↗
- New establishment in Tessenderlo-Ham. KBO
- Vramaco bv became a director. NBB
- New establishment in Kortrijk. KBO
- New establishment in Heusden-Zolder. KBO
- Start of the company according to the CBE. KBO
In short
From € 915,506 profit in 2022 to € 2.6 million profit in 2026.
Paid € 3.7 million in corporate taxes since 2022.
Best year ever: 2024, with € 3 million profit.
Paid out € 105,580 in dividends to the owners in total.
Management
The stake of P & V GROUP, CNAP comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
P&V PanelsThe shares are held by P & V GROUP (100%) and CNAP (3.5%). It owns 100% of Elektra Bree Bordenbouw and 100% of P&V Panels Nederland B.V. itself.
Directors
According to the 2026 annual accounts
Managing director · represented by Joris Vrancken
Also active at: BEKAERT IMMO, P&V Immo, P & V GROUP, Experts - Consultants & Technicians
since 2023 · until 2029
Shareholders
100%
3.5%
Participations
P&V Panels Nederland B.V.
100%
Establishments
Establishment units
Physical locations of this company
Industrieweg 10
3550 Heusden-Zolder
Doenaertstraat(Kor) 32
8500 Kortrijk
Active since 1 February 2020
Bergstraat 36
3945 Tessenderlo-Ham
Active since 1 September 2024
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 2 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
- 0838.329.428
- VAT number
- BE 0838.329.428
- Registered office
- Industrieweg 10, 3550 Heusden-Zolder
- Names & denominations
- P&V Panels
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 4 August 2011
- Peppol
- Active · Active since 31 Dec 2025
- Contact
- 013/611109
- Activities · NACE
Vervaardiging van schakel- en verdeelinrichtingen
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