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 2024 and 2025.
-
Tight liquidity NBB
Cash and receivables cover 8 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
PANDENFONDS from Kortrijk, company number BE0897734802, closed financial year 2025 with a result of € -295,346 after tax. For that financial year PANDENFONDS recorded a gross margin of € 24,687 and equity of € 947,827. Compared with financial year 2024, the result moved from € -163,163 to € -295,346. The company made a loss. The company holds a healthy buffer. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on April 16, 2026.
€ 947,827
▼ 24% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -295,346
▼ 81 % more loss than in 2024
Profit after tax over the fiscal year.
€ 257,177
▼ 53% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -710,241.
Debts at end 2025
€ 5.3 million
▲ 1% vs 2024
Loans from banks and other lenders, long and short.
€ 177,643
▼ 61% vs 2024
Supplier invoices still open on the last day of the fiscal year.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € -17,958 | € 124 | € -47,491 | € 24,687 | ▲ € 72,178 |
| Profit after taxes | € -86,388 | € -167,336 | € -163,163 | € -295,346 | ▼ € 132,183 |
| Equity | € 1,573,672 | € 1,406,335 | € 1,243,173 | € 947,827 | ▼ 24% |
| Total debts | € 1,049,277 | € 2,665,191 | € 5,916,864 | € 5,448,109 | ▼ 8% |
| Cash | € 365,585 | € 414,408 | € 552,934 | € 257,177 | ▼ 53% |
| Land & buildings | € 1,932,054 | € 2,749,600 | € 4,895,370 | € 4,490,587 | ▼ 8% |
| Retained profit | € -84,396 | € -251,732 | € -414,895 | € -710,241 | ▼ € 295,346 |
| Bank debt | € 941,811 | € 2,292,286 | € 5,201,383 | € 5,258,378 | ▲ 1% |
| Balance sheet total | € 2,622,949 | € 4,103,526 | € 7,160,037 | € 6,395,936 | ▼ 11% |
Key figures of PANDENFONDS, 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 PANDENFONDS?
What happened at PANDENFONDS in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- WOUT MADDENS stepped down as director. NBB
- FRITS DHAENENS stepped down as director. NBB
- EEF VANDENBOGAERDE stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 295,346. Source: NBB ↗
- PARTICIPATIEMAATSCHAPPIJ VLAANDEREN NV stepped down as director. NBB
- MARC NEIRINCKX stepped down as director. NBB
- FRITS DHAENENS became a director. NBB
- KELLY DETAVERNIER stepped down as director. NBB
In short
From € 86,388 loss in 2022 to € 295,346 loss in 2025.
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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 Participatiemaatschappij Vlaanderen comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
PANDENFONDSThe shares are held by Participatiemaatschappij Vlaanderen (40%).
Directors
According to the 2025 annual accounts
since 2020 · until 2031
PARTICIPATIEMAATSCHAPPIJ VLAANDEREN NV
Director · represented by Bertrand VAN REGEMORTEL
Also active at: VLAAMSE INSTELLING VOOR TECHNOLOGISCH ONDERZOEK, Arts Gebroeders immobilière, BEDRIJVENCENTRUM VILVOORDE, BIOTECH FONDS VLAANDEREN, MAISON DE LA RADIO FLAGEY, HERTECANT FLANGES, Site-Ontwikkeling Vlaanderen, SUSTAINABLE ENERGY VENTURES +136 more
since 2020 · until 2026
FRITS DHAENENS
Director
since 2025 · until 2031
KELLY DETAVERNIER
Director
Also active at: West-Vlaamse Politieschool, Onderwijsvereniging van Steden en Gemeenten, ZUIDWEST, XOM
since 2020 · until 2025
since 2025 · until 2031
since 2021 · until 2026
RUBEN MAYEUR
Director
since 2020 · until 2025
Shareholders
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Grote Markt(Kor) 54
8500 Kortrijk
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 6 companies are registered at this address.
All companies at this address →Stad Kortrijk
POLITIEZONE : KORTRIJK - KUURNE - LENDELEDE
Actieve Jeugd van Kortrijk - Kortrijks Jeugdwelszijnswerk
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What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0897.734.802
- VAT number
- BE 0897.734.802
- Registered office
- Grote Markt(Kor) 54, 8500 Kortrijk
- Names & denominations
- PANDENFONDS
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 29 April 2008
- Peppol
- Active · Active since 23 Oct 2025
- Activities · NACE
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