Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Tight liquidity NBB
Cash and receivables cover 55 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
P&V Panels from Heusden-Zolder, company number BE0838329428, closed financial year 2025 with a result of € 1.4 million after tax. For that financial year P&V Panels recorded revenue of € 67 million and equity of € 10.8 million. Compared with financial year 2024, the result moved from € 3 million to € 1.4 million. 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 September 24, 2025.
€ 10.8 million
▲ 15% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 1.4 million
▼ 52% vs 2024
Profit after tax over the fiscal year.
€ 1.5 million
▲ 42% 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 € 9.9 million.
People and assets in 2025
197.7
▼ 4 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 13.7 million
▼ 20% vs 2024
€ 69,500 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.
€ 370,218
▲ 14% vs 2024
Of which on lease € 98,853.
Debts at end 2025
€ 4.5 million
▼ 1% vs 2024
€ 820,770 is repaid this year. At this pace the long-term loan is gone in ≈ 2 years.
€ 11.9 million
▼ 11% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 90 days on average.
€ 3.2 million
▼ 18% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2021 | 2022 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 37,710,628 | € 47,355,811 | € 76,718,024 | € 67,000,656 | ▼ 13% |
| Profit after taxes | € -326,424 | € 915,506 | € 2,970,239 | € 1,424,693 | ▼ 52% |
| Equity | € 5,563,802 | € 6,373,728 | € 9,343,966 | € 10,768,660 | ▲ 15% |
| Total debts | € 23,541,480 | € 28,607,340 | € 25,560,178 | € 25,442,577 | |
| Cash | € 1,930,595 | € 2,754,313 | € 1,032,415 | € 1,461,920 | ▲ 42% |
| Land & buildings | € 98,810 | € 96,668 | € 89,679 | € 136,146 | ▲ 52% |
| Retained profit | € 4,727,442 | € 5,537,368 | € 8,507,606 | € 9,932,300 | ▲ 17% |
| Dividend | € 0 | € 105,580 | € 0 | € 0 | |
| Bank debt | € 10,177,054 | € 10,980,494 | € 4,560,153 | € 4,531,148 | ▼ 1% |
| Balance sheet total | € 29,107,094 | € 34,989,677 | € 34,912,754 | € 36,219,847 | ▲ 4% |
| Employees (FTE) | 196.8 | 194 | 201.7 | 197.7 | ▼ 4 |
Key figures of P&V Panels, fiscal years 2021 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 October 2026.
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 2025: profit of € 1.4 million (▼ 52% vs 2024). 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 € 326,424 loss in 2021 to € 1.4 million profit in 2025.
Paid € 2.7 million in corporate taxes since 2021.
Best year ever: 2024, with € 3 million profit.
Paid out € 105,580 in dividends to the owners in total.
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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
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 P&V Panels Nederland B.V. and 95.1% of Elektra Bree Bordenbouw itself.
Directors
According to the 2025 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%
95.1%
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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