ACTIVE

PELL-MATH

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Financial year 2025 · closed on 31/12/2025

Net result

14,7 k €

-22.7% YoY

Gross margin

35,7 k €

+26.7% YoY

Equity

242,7 k €

+6.4% YoY

What does PELL-MATH do?

PELL-MATH is a Private limited company incorporated in 1985. Its main activity is: Manufacture of other special-purpose machinery n.e.c.. Its registered office is in Houthalen-Helchteren.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0427.083.575

Incorporation

04/03/1985

Legal form

Private limited company

Registered office

Eikelbosstraat 111
3530 Houthalen-Helchteren · FlandreSee on map

Contributed capital

218 600,00 €

Latest accounts

31/12/2025

Activities (NACE)

28990Manufacture of other special-purpose machinery n.e.c.· main 28990Manufacture of other special-purpose machinery n.e.c.29564Manufacture of motor vehicles, trailers and semi-trailers 74879Other professional, scientific and technical activities 82990Other business support service activities n.e.c.82990Other business support service activities n.e.c.

Joint committees (1)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	35,7 k €	+26.7%	28,1 k €	+540%	-6,4 k €	-164%	10 k €	-28.1%	13,9 k €	+305%	3,4 k €	-88.1%	28,8 k €	-42.7%	50,2 k €	+5.9%	47,4 k €	-30.1%	67,8 k €	-11.9%	76,9 k €	-37.8%	123,6 k €	-10.6%	138,2 k €	-9.7%	153,1 k €	-6.4%	163,5 k €	-4.9%	172 k €	+4.3%	164,8 k €	-7.7%	178,6 k €	+83.0%	97,6 k €	+19.6%	81,6 k €
EBITDA	19,1 k €	-13.4%	22 k €	+362%	-8,4 k €	-197%	8,6 k €	-27.0%	11,8 k €	+1103%	983,3 €	-94.4%	17,6 k €	-62.2%	46,7 k €	+5.7%	44,2 k €	+39.6%	31,6 k €	+219%	-26,6 k €	-133%	-11,4 k €	-51714%	22,2 €	-99.9%	23,8 k €	-15.3%	28,1 k €	-31.3%	40,9 k €	+17.4%	34,8 k €	-45.6%	64 k €	+442%	11,8 k €	+5430%	213,7 €
Operating result	18,6 k €	-7.9%	20,2 k €	+222%	-16,6 k €	-2048%	850 €	-56.8%	2 k €	+120%	-9,6 k €	-373%	3,5 k €	-90.2%	36,2 k €	+7.4%	33,7 k €	+15.7%	29,1 k €	+179%	-36,7 k €	-70.6%	-21,5 k €	-153%	-8,5 k €	-155%	15,6 k €	-14.3%	18,2 k €	-53.1%	38,7 k €	+18.7%	32,6 k €	-46.2%	60,6 k €	+650%	8,1 k €	+290%	-4,2 k €
Net result	14,7 k €	-22.7%	19 k €	+204%	-18,3 k €	-18732%	-97,1 €	-122%	441,6 €	+104%	-11,1 k €	-775%	1,6 k €	-94.2%	28,3 k €	-8.4%	30,9 k €	+9.8%	28,1 k €	+174%	-38,1 k €	-62.8%	-23,4 k €	-176%	-8,5 k €	-196%	8,8 k €	-35.2%	13,7 k €	-53.4%	29,3 k €	+19.5%	24,5 k €	-46.5%	45,8 k €	+575%	6,8 k €	+239%	-4,9 k €
Balance sheet
Equity	242,7 k €	+6.4%	228,1 k €	+9.1%	209,1 k €	-8.0%	227,4 k €	-0.0%	227,5 k €	+0.2%	227,1 k €	-4.7%	238,2 k €	-1.7%	242,3 k €	+10.6%	219 k €	+16.4%	188,1 k €	+17.6%	159,9 k €	-19.2%	198 k €	-10.6%	221,3 k €	-12.7%	253,7 k €	+3.2%	245,8 k €	+4.8%	234,6 k €	+12.9%	207,7 k €	+11.9%	185,6 k €	+32.7%	139,8 k €	+5.1%	133,1 k €
Total assets	255,9 k €	+8.9%	235 k €	+10.9%	211,9 k €	-10.5%	236,7 k €	-2.5%	242,7 k €	-4.6%	254,5 k €	-11.4%	287,1 k €	+5.8%	271,4 k €	+20.9%	224,5 k €	+15.1%	195,1 k €	+1.8%	191,7 k €	-26.7%	261,4 k €	-33.9%	395,8 k €	+17.9%	335,8 k €	-1.0%	339,1 k €	+15.5%	293,5 k €	+12.2%	261,5 k €	+3.2%	253,5 k €	+21.2%	209,1 k €	+23.7%	169,1 k €
Cash	217,9 k €	+8.4%	201 k €	+16.7%	172,2 k €	+3.6%	166,3 k €	-8.6%	182 k €	-4.9%	191,4 k €	-0.8%	192,9 k €	+6.2%	181,8 k €	+11.3%	163,2 k €	+38.0%	118,3 k €	+6.4%	111,2 k €	-11.5%	125,7 k €	-37.2%	200,2 k €	+129%	87,4 k €	+41.3%	61,8 k €	+20.7%	51,2 k €	-29.8%	72,9 k €	+208%	23,6 k €	-58.2%	56,6 k €	+48.4%	38,2 k €
Debts	13,2 k €	+91.3%	6,9 k €	+149%	2,8 k €	-70.2%	9,3 k €	-38.7%	15,2 k €	-44.7%	27,5 k €	-43.9%	48,9 k €	+68.0%	29,1 k €	+435%	5,4 k €	-22.6%	7 k €	-77.8%	31,7 k €	-50.0%	63,4 k €	-63.6%	174,2 k €	+112%	82 k €	-10.8%	91,9 k €	+56.2%	58,8 k €	+9.4%	53,8 k €	-20.6%	67,8 k €	-0.7%	68,3 k €	+89.4%	36,1 k €
Other
Workforce	–		–		–		–		–		–		–		–		–		–		2,4 ETP	-20.0%	3,0 ETP	+3.4%	2,9 ETP	-3.3%	3,0 ETP	0.0%	3,0 ETP	0.0%	3,0 ETP	0.0%	3,0 ETP	+7.1%	2,8 ETP	+40.0%	2,0 ETP	0.0%	2,0 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 250 k€ and 500 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 5 ended

Active mandates

Mathieu Pellens

Director · since 01 mai 2024

Active

Ended mandates

Mathieu Pellens

Director · since 02 mai 2024

Ended

Astrid Pellens

Manager · since 01 octobre 2016

Ended

Astrid Pellens

Director

Ended

Mathieu Pellens

Director

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	18/08/2026	30/08/2025	25/08/2024	10/08/2023	30/08/2022	25/08/2021
General meeting	01/06/2026	31/05/2025	31/05/2024	31/05/2023	31/05/2022	31/05/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	01/06/2026	18/08/2026	Dutch	PDF
Micro model	31/12/2024	31/05/2025	30/08/2025	Dutch	PDF
Micro model	31/12/2023	31/05/2024	25/08/2024	Dutch	PDF
Micro model	31/12/2022	31/05/2023	10/08/2023	Dutch	PDF
Micro model	31/12/2021	31/05/2022	30/08/2022	Dutch	PDF
Micro model	31/12/2020	31/05/2021	25/08/2021	Dutch	PDF
Micro model	31/12/2019	02/06/2020	24/07/2020	Dutch	PDF
Micro model	31/12/2018	31/05/2019	27/08/2019	Dutch	PDF
Micro model	31/12/2017	31/05/2018	31/08/2018	Dutch	PDF
Micro model	31/12/2016	31/05/2017	23/08/2017	Dutch	PDF
Abridged model	31/12/2015	31/05/2016	16/06/2016	Dutch	PDF
Abridged model	31/12/2014	01/06/2015	11/06/2015	Dutch	PDF
Abridged model	31/12/2013	31/05/2014	14/07/2014	Dutch	PDF
Abridged model	31/12/2012	31/05/2013	22/07/2013	Dutch	PDF
Abridged model	31/12/2011	31/05/2012	20/06/2012	Dutch	PDF
Abridged model	31/12/2010	31/05/2011	20/07/2011	Dutch	PDF
Abridged model	31/12/2009	31/05/2010	23/07/2010	Dutch	PDF
Abridged model	31/12/2008	01/06/2009	24/07/2009	Dutch	PDF
Abridged model	31/12/2007	31/05/2008	17/07/2008	Dutch	PDF
Abridged model	31/12/2006	31/05/2007	10/08/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 250 k€ and 500 k€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 5 ended

Active mandates

Mathieu Pellens

Director · since 01 mai 2024

Active

Ended mandates

Mathieu Pellens

Director · since 02 mai 2024

Ended

Astrid Pellens

Manager · since 01 octobre 2016

Ended

Astrid Pellens

Director

Ended

Mathieu Pellens

Director

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates27/05/2024
WIJZIGING RECHTSVORM - MAATSCHAPPELIJKE ZETEL - ONTSLAGEN - BENOEMINGEN
PDF
Registered office03/09/2020
MAATSCHAPPELIJKE ZETEL - WIJZIGING RECHTSVORM
PDF
Mandates19/10/2016
ONTSLAGEN - BENOEMINGEN
PDF
Registered office30/06/2016
MAATSCHAPPELIJKE ZETEL
PDF
Registered office07/02/2014
MAATSCHAPPELIJKE ZETEL - KAPITAAL - AANDELEN
PDF
Capital / shares27/10/2005
BENAMING - KAPITAAL - AANDELEN
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 202514,7 k €↓
2024
Annual accounts 202419 k €↑
2023
Annual accounts 2023-18,3 k €↓
2022
Annual accounts 2022-97,1 €↓
2021
Annual accounts 2021441,6 €↑
2020
Annual accounts 2020-11,1 k €↓
2019
Annual accounts 20191,6 k €↓
2018
Annual accounts 201828,3 k €↓
2017
Annual accounts 201730,9 k €↑
2016
Annual accounts 201628,1 k €↑
2015
Annual accounts 2015-38,1 k €↓
2014
Annual accounts 2014-23,4 k €↓
2013
Annual accounts 2013-8,5 k €↓
2012
Annual accounts 20128,8 k €↓
2011
Annual accounts 201113,7 k €↓
2010
Annual accounts 201029,3 k €↑
2009
Annual accounts 200924,5 k €↓
2008
Annual accounts 200845,8 k €↑
2007
Annual accounts 20076,8 k €↑
2006
Annual accounts 2006-4,9 k €
04/03/1985
IncorporationPrivate limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

PELL-MATH

Overview

What does PELL-MATH do?

Trend over 20 financial years

Indicative valuation

Board of directors

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline