ACTIVE

PANIBEL

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Financial year 2025 · closed on 31/12/2025

Net result

226,9 k €

-18.9% YoY

Revenue

11,6 M €

+2.2% YoY

Equity

2,7 M €

+9.0% YoY

Workforce

101,2 ETP

+3.7% YoY

What does PANIBEL do?

PANIBEL is a Public limited company incorporated in 1988. Its main activity is: Manufacture of bread; manufacture of fresh pastry goods and cakes. Its registered office is in Ans. It employs on average 101,2 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0435.384.401

Incorporation

26/09/1988

Legal form

Public limited company

Registered office

Rue des Technologies 24
4432 Ans · WallonieSee on map

Contributed capital

250 000,00 €

Latest accounts

31/12/2025

Average workforce

101,2 ETP

Activities (NACE)

10712Manufacture of bread; manufacture of fresh pastry goods and cakes· main 10712Manufacture of bread; manufacture of fresh pastry goods and cakes 15812Manufacture of leather and related products

Joint committees (2)

Signals

ProfitableSolid equityLow riskPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

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
Revenue	11,6 M €	+2.2%	11,3 M €	+3.7%	10,9 M €	+12.0%	9,8 M €	+32.3%	7,4 M €		–		–		–		–		–		4,1 M €	-6.7%	4,4 M €	+5.5%	4,1 M €	+0.5%	4,1 M €	+7.9%	3,8 M €	+14.6%	3,3 M €	+10.4%	3 M €	+20.0%	2,5 M €		–		–
EBITDA	1,2 M €	+0.6%	1,2 M €	+42.4%	843,7 k €	+21.5%	694,5 k €	-31.9%	1 M €	+112%	480,8 k €	-39.0%	788,8 k €	-1.8%	803,2 k €	-4.3%	839,6 k €	+7.7%	779,7 k €	-10.3%	869,5 k €	-6.1%	926,3 k €	+20.2%	770,3 k €	-4.5%	806,4 k €	+28.5%	627,8 k €	-11.4%	708,3 k €	+11.0%	638,2 k €	+131%	276,8 k €	+38.9%	199,3 k €	+24.6%	160 k €
Operating result	387,9 k €	-18.2%	474,1 k €	+74.3%	272 k €	+140%	113,2 k €	-77.6%	506,2 k €	+3908%	-13,3 k €	-104%	369 k €	-7.2%	397,4 k €	-7.6%	430 k €	+11.0%	387,4 k €	-18.9%	477,6 k €	-10.3%	532,6 k €	+60.5%	331,9 k €	-11.5%	375 k €	+66.4%	225,4 k €	-25.1%	300,8 k €	+21.7%	247,2 k €	+100%	123,5 k €	+64.0%	75,3 k €	+75.6%	42,9 k €
Net result	226,9 k €	-18.9%	279,7 k €	+84.6%	151,6 k €	+173%	55,5 k €	-84.3%	353,6 k €	+742%	-55,1 k €	-125%	223,3 k €	-10.7%	250 k €	-12.2%	284,6 k €	+17.4%	242,4 k €	-11.6%	274,3 k €	-6.7%	293,9 k €	+89.4%	155,1 k €	-9.9%	172,1 k €	+205%	56,4 k €	-46.8%	106,1 k €	+99.4%	53,2 k €	+67.7%	31,7 k €	-13.6%	36,8 k €	+321%	8,7 k €
Balance sheet
Equity	2,7 M €	+9.0%	2,5 M €	+12.5%	2,2 M €	+7.3%	2 M €	+2.0%	2 M €	+20.7%	1,6 M €	-3.9%	1,7 M €	+14.0%	1,5 M €	+9.3%	1,4 M €	+8.7%	1,3 M €	+5.7%	1,2 M €	+9.1%	1,1 M €	+12.2%	977,7 k €	+12.0%	872,6 k €	+16.0%	751,9 k €	+0.6%	747,4 k €	-2.8%	768,8 k €	+2.6%	749,5 k €	+120%	341,2 k €	+12.1%	304,4 k €
Total assets	6,5 M €	+10.7%	5,8 M €	-7.7%	6,3 M €	+3.4%	6,1 M €	+12.3%	5,4 M €	+9.7%	5 M €	-9.0%	5,5 M €	+29.1%	4,2 M €	+16.7%	3,6 M €	-1.3%	3,7 M €	-1.2%	3,7 M €	-7.5%	4 M €	+0.4%	4 M €	-8.6%	4,4 M €	-5.9%	4,6 M €	-1.2%	4,7 M €	-8.6%	5,1 M €	-7.6%	5,6 M €	+289%	1,4 M €	+17.0%	1,2 M €
Cash	433,1 k €	+125%	192,5 k €	-24.4%	254,6 k €	-59.6%	629,6 k €	+236%	187,3 k €	-1.2%	189,6 k €	-38.2%	306,7 k €	-2.3%	314 k €	-6.2%	334,8 k €	+36.7%	244,9 k €	+30.3%	187,9 k €	+159%	72,5 k €	+15.3%	62,9 k €	+481%	10,8 k €	-82.8%	62,8 k €	+231%	19 k €	-74.3%	73,7 k €	+15.1%	64 k €	-58.9%	155,7 k €	+137%	65,7 k €
Debts	3,8 M €	+11.8%	3,4 M €	-18.4%	4,1 M €	+2.1%	4,1 M €	+18.0%	3,4 M €	+4.0%	3,3 M €	-11.3%	3,7 M €	+37.7%	2,7 M €	+22.1%	2,2 M €	-6.6%	2,4 M €	-4.9%	2,5 M €	-14.4%	2,9 M €	-3.5%	3 M €	-13.5%	3,5 M €	-10.0%	3,9 M €	-1.9%	4 M €	-9.5%	4,4 M €	-9.2%	4,8 M €	+343%	1,1 M €	+18.6%	916,1 k €
Other
Workforce	101,2 ETP	+3.7%	97,6 ETP	-2.2%	99,8 ETP	+10.6%	90,2 ETP	+35.0%	66,8 ETP	+14.4%	58,4 ETP	+15.2%	50,7 ETP	+25.5%	40,4 ETP	+2.8%	39,3 ETP	-0.3%	39,4 ETP	+7.4%	36,7 ETP	-3.7%	38,1 ETP	-0.5%	38,3 ETP	-2.0%	39,1 ETP	+4.8%	37,3 ETP	+6.9%	34,9 ETP	+9.4%	31,9 ETP	+0.6%	31,7 ETP	+14.4%	27,7 ETP	-12.9%	31,8 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 5 M€ and 10 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 22 ended

Active mandates

HOLDING PCS

Director · since 11 décembre 2020 · 0450.967.945

Represented by Didier DEPREAY

Active

Ended mandates

André KILESSE

Director · since 25 juin 2020 · until 15 juin 2021

Ended

HOLDING PCS

Managing director · since 01 juin 2016 · until 16 juin 2022 · 0450.967.945

Represented by Didier DEPREAY

Ended

Didier DEPREAY

Director · since 18 mai 2015 · until 25 juin 2020

Ended

Didier DEPREAY

Director · since 18 mai 2015 · until 11 décembre 2020

Ended

At this address

Other companies at this address

Company	CBE no.
CHAUD DIFFUSION● Active	0449.629.444
DEGE IMMO● Active	0459.195.822
HOLDING PCS● Active	0450.967.945
PARSE LOISIRS● Active	0443.145.587
PC DISTRIBUTION● Active	0449.231.249
PCSI● Active	0408.455.815
POINT CHAUD● Active	0894.082.256

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Abridged 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	29/06/2026	18/06/2025	27/06/2024	30/06/2023	29/06/2022	30/06/2021
General meeting	02/06/2026	03/06/2025	04/06/2024	06/06/2023	07/06/2022	01/06/2021
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
Full model	31/12/2025	02/06/2026	29/06/2026	French	PDF
Full model	31/12/2024	03/06/2025	18/06/2025	French	PDF
Full model	31/12/2023	04/06/2024	27/06/2024	French	PDF
Full model	31/12/2022	06/06/2023	30/06/2023	French	PDF
Full model	31/12/2021	07/06/2022	29/06/2022	French	PDF
Abridged model	31/12/2020	01/06/2021	30/06/2021	French	PDF
Abridged model	31/12/2019	28/06/2020	17/07/2020	French	PDF
Abridged model	31/12/2018	20/05/2019	28/06/2019	French	PDF
Abridged model	31/12/2017	01/06/2018	27/06/2018	French	PDF
Abridged model	31/12/2016	01/06/2017	29/06/2017	French	PDF
Full model	31/12/2015	01/06/2016	27/06/2016	French	PDF
Full model	31/12/2014	15/06/2015	29/06/2015	French	PDF
Full model	31/12/2013	26/06/2014	30/06/2014	French	PDF
Full model	31/12/2012	14/06/2013	08/07/2013	French	PDF
Full model	31/12/2011	15/06/2012	12/07/2012	French	PDF
Full model	31/12/2010	15/06/2011	07/07/2011	French	PDF
Full model	31/12/2009	29/06/2010	30/07/2010	French	PDF
Full model	31/12/2008	29/06/2009	13/08/2009	French	PDF
Abridged model	31/12/2007	11/03/2008	31/07/2008	French	PDF
Abridged model	31/12/2006	15/02/2007	04/05/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 5 M€ and 10 M€

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 · 22 ended

Active mandates

HOLDING PCS

Director · since 11 décembre 2020 · 0450.967.945

Represented by Didier DEPREAY

Active

Ended mandates

André KILESSE

Director · since 25 juin 2020 · until 15 juin 2021

Ended

HOLDING PCS

Managing director · since 01 juin 2016 · until 16 juin 2022 · 0450.967.945

Represented by Didier DEPREAY

Ended

Didier DEPREAY

Director · since 18 mai 2015 · until 25 juin 2020

Ended

Didier DEPREAY

Director · since 18 mai 2015 · until 11 décembre 2020

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates28/08/2023
DEMISSIONS, NOMINATIONS
PDF
Mandates15/12/2020
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - DEMISSIONS, NOMINATIONS - ASSEMBLEE GENERALE
PDF
Mandates08/12/2020
DEMISSIONS, NOMINATIONS
PDF
Mandates16/11/2018
DEMISSIONS, NOMINATIONS
PDF
Mandates22/08/2017
DEMISSIONS, NOMINATIONS
PDF
Mandates15/07/2016
DEMISSIONS, NOMINATIONS
PDF
Mandates22/01/2016
DEMISSIONS, NOMINATIONS
PDF
Mandates01/10/2014
DEMISSIONS, NOMINATIONS
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 2025226,9 k €↓
2024
Annual accounts 2024279,7 k €↑
2023
Annual accounts 2023151,6 k €↑
2022
Annual accounts 202255,5 k €↓
2021
Annual accounts 2021353,6 k €↑
2020
Annual accounts 2020-55,1 k €↓
2019
Annual accounts 2019223,3 k €↓
2018
Annual accounts 2018250 k €↓
2017
Annual accounts 2017284,6 k €↑
2016
Annual accounts 2016242,4 k €↓
2015
Annual accounts 2015274,3 k €↓
2014
Annual accounts 2014293,9 k €↑
2013
Annual accounts 2013155,1 k €↓
2012
Annual accounts 2012172,1 k €↑
2011
Annual accounts 201156,4 k €↓
2010
Annual accounts 2010106,1 k €↑
2009
Annual accounts 200953,2 k €↑
2008
Annual accounts 200831,7 k €↓
2007
Annual accounts 200736,8 k €↑
2006
Annual accounts 20068,7 k €
26/09/1988
IncorporationPublic 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

PANIBEL

Overview

What does PANIBEL do?

Trend over 20 financial years

Indicative valuation

Board of directors

Other companies at this address

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