ACTIVE

PAV SECURITY

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Financial year 2025 · closed on 31/12/2025

Net result

21,2 k €

-22.2% YoY

Gross margin

382,9 k €

-18.3% YoY

Equity

305,6 k €

+7.4% YoY

Workforce

1,2 ETP

-40.0% YoY

What does PAV SECURITY do?

PAV SECURITY is a Public limited company incorporated in 2000. Its main activity is: Computer programming activities. Its registered office is in Antwerpen. It employs on average 1,2 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0472.797.202

Incorporation

20/09/2000

Legal form

Public limited company

Registered office

Quellinstraat 49
2018 Antwerpen · FlandreSee on map

Contributed capital

150 000,00 €

Latest accounts

31/12/2025

Average workforce

1,2 ETP

Activities (NACE)

62010Computer programming activities· main 62020Computer consultancy activities 62100Computer programming, consultancy and related activities 62200Computer programming, consultancy and related activities 72100Research and experimental development on natural sciences and engineering 72220Research and experimental development on social sciences and humanities

Joint committees (2)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

View the BCE/KBO Public Search record →

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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	382,9 k €	-18.3%	468,9 k €	+10.0%	426,1 k €	+171%	157 k €	+26.4%	124,3 k €	-49.0%	243,5 k €	+102%	120,4 k €	-30.4%	172,9 k €	-79.8%	855,9 k €	+36.8%	625,8 k €	+2.0%	613,6 k €	-2.6%	629,7 k €	+0.0%	629,4 k €	-22.4%	811,3 k €	-23.3%	1,1 M €	-9.7%	1,2 M €	-5.0%	1,2 M €	+66.2%	742,4 k €	+6.8%	695,3 k €	-21.4%	884,1 k €
EBITDA	23,4 k €	-19.4%	29,1 k €	+10.3%	26,4 k €	+1258%	1,9 k €	-81.5%	10,5 k €	-92.5%	139,4 k €	+453%	-39,5 k €	-154%	73,3 k €	-79.1%	350,8 k €	+181%	-431,3 k €	-132%	-185,6 k €	-1.9%	-182,2 k €	-70.4%	-106,9 k €	-49.4%	-71,6 k €	-154%	132,1 k €	+248%	38 k €	-79.7%	186,7 k €	+393%	-63,8 k €	+22.6%	-82,4 k €	-158%	142,3 k €
Operating result	22,4 k €	-20.1%	28,1 k €	+10.0%	25,5 k €	+90.7%	13,4 k €	-26.5%	18,2 k €	-84.9%	120,3 k €	+346%	-49 k €	-163%	78,2 k €	-76.1%	327,4 k €	+179%	-412,1 k €	-104%	-201,7 k €	-5.5%	-191,2 k €	-45.8%	-131,2 k €	-51.7%	-86,4 k €	-180%	108,5 k €	+1833%	5,6 k €	-95.3%	119,9 k €	+243%	-83,6 k €	+39.1%	-137,3 k €	-219%	115,1 k €
Net result	21,2 k €	-22.2%	27,2 k €	+12.6%	24,2 k €	+103%	11,9 k €	-29.9%	17 k €	-85.5%	117,7 k €	+327%	-51,9 k €	-169%	75,3 k €	-76.7%	323,1 k €	+177%	-421,1 k €	-4.5%	-402,8 k €	-98.7%	-202,8 k €	-55.3%	-130,6 k €	-76.3%	-74,1 k €	-178%	94,8 k €	+1322%	-7,8 k €	-107%	109,6 k €	+122%	-509 k €	+8.8%	-558,2 k €	-1023%	60,5 k €
Balance sheet
Equity	305,6 k €	+7.4%	284,4 k €	+10.6%	257,2 k €	+10.4%	233 k €	+5.4%	221,1 k €	+8.3%	204,1 k €	+136%	86,4 k €	-37.5%	138,3 k €	+120%	63 k €	+124%	-260,1 k €	-8.8%	-238,9 k €	-259%	-66,5 k €	-149%	136,3 k €	-48.9%	266,9 k €	-21.7%	340,9 k €	+38.5%	246,2 k €	-3.1%	253,9 k €	+76.0%	144,3 k €	+4203%	3,4 k €	-98.3%	196,6 k €
Total assets	377,7 k €	-4.0%	393,4 k €	+11.6%	352,7 k €	+22.8%	287,1 k €	+11.8%	256,7 k €	-26.1%	347,3 k €	+150%	139,1 k €	-29.9%	198,3 k €	+57.9%	125,5 k €	-85.9%	891,5 k €	-36.0%	1,4 M €	+8.9%	1,3 M €	+2.6%	1,2 M €	-16.1%	1,5 M €	-72.8%	5,5 M €	+184%	1,9 M €	+5.7%	1,8 M €	+13.5%	1,6 M €	+29.7%	1,2 M €	-17.9%	1,5 M €
Cash	23,7 k €	-36.6%	37,3 k €	+6.7%	35 k €	+20.4%	29,1 k €	-66.6%	86,9 k €	-59.0%	211,9 k €	+132%	91,3 k €	+48.5%	61,5 k €	+119%	28 k €	-17.6%	34 k €	+739%	4,1 k €	-92.7%	55,8 k €	-21.7%	71,3 k €	-13.5%	82,5 k €	+46.1%	56,5 k €	-58.3%	135,3 k €	+152%	53,8 k €	-78.8%	253,3 k €	+1.5%	249,5 k €	+14143%	1,8 k €
Debts	72,1 k €	-33.9%	109 k €	+14.2%	95,4 k €	+76.5%	54,1 k €	+51.7%	35,6 k €	-75.1%	143,2 k €	+172%	52,7 k €	-12.2%	59,9 k €	-4.2%	62,6 k €	-50.3%	125,8 k €	-80.5%	645,2 k €	+29.1%	499,8 k €	+60.4%	311,6 k €	+20.6%	258,4 k €	-93.8%	4,2 M €	+505%	693,2 k €	+26.0%	550,2 k €	+48.3%	371 k €	-47.4%	705,5 k €	-46.2%	1,3 M €
Other
Workforce	1,2 ETP	-40.0%	2,0 ETP	0.0%	2,0 ETP	+100%	1,0 ETP	0.0%	1,0 ETP	-9.1%	1,1 ETP	-45.0%	2,0 ETP	+53.8%	1,3 ETP	-59.4%	3,2 ETP	-52.9%	6,8 ETP	-40.4%	11,4 ETP	-4.2%	11,9 ETP	+4.4%	11,4 ETP	-8.8%	12,5 ETP	-15.5%	14,8 ETP	-20.0%	18,5 ETP	+0.5%	18,4 ETP	+22.7%	15,0 ETP	+7.1%	14,0 ETP	-11.4%	15,8 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 100 k€ and 250 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 30 ended

Active mandates

Elizabeth Coffey Kathryn

Director · since 15 juillet 2020 · until 16 mai 2026

Active

Stefan Hersch CY

Chairman of the board of directors · since 15 juillet 2020 · until 15 mai 2026

Active

Ended mandates

CY STEFAN HERSCH

Chairman of the board of directors · since 15 juillet 2020 · until 15 mai 2026

Ended

KATHRYN ELIZABETH COFFEY

Director · since 15 juillet 2020 · until 15 mai 2026

Ended

KATHRYN ELIZABETH COFFEY

Director · since 15 juillet 2020 · until 15 mai 2026

Ended

STEFAN HERSCH

Chairman of the board of directors · since 15 juillet 2020 · until 15 mai 2026

Ended

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Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged 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	19/05/2026	26/05/2025	20/08/2024	24/07/2023	18/11/2022	22/12/2021
General meeting	15/05/2026	15/05/2025	24/06/2024	01/06/2023	22/08/2022	28/10/2021
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

23 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	15/05/2026	19/05/2026	Dutch	PDF
Abridged model	31/12/2024	15/05/2025	26/05/2025	Dutch	PDF
Abridged modelCorrection	31/12/2023	24/06/2024	20/08/2024	Dutch	PDF
Abridged model	31/12/2023	24/06/2024	29/07/2024	Dutch	PDF
Abridged model	31/12/2022	01/06/2023	24/07/2023	Dutch	PDF
Abridged modelCorrection	31/12/2021	22/08/2022	18/11/2022	Dutch	PDF
Abridged model	31/12/2021	22/08/2022	10/10/2022	Dutch	PDF
Abridged model	31/12/2020	28/10/2021	22/12/2021	Dutch	PDF
Abridged modelCorrection	31/12/2019	22/06/2021	08/11/2021	Dutch	PDF
Abridged model	31/12/2019	22/06/2021	29/06/2021	Dutch	PDF
Abridged model	31/12/2018	15/05/2019	14/06/2019	Dutch	PDF
Abridged model	31/12/2017	21/09/2018	21/09/2018	Dutch	PDF
Abridged model	31/12/2016	15/05/2017	26/07/2017	Dutch	PDF
Abridged model	31/12/2015	17/05/2016	25/08/2016	Dutch	PDF
Abridged model	31/12/2014	15/05/2015	24/06/2015	Dutch	PDF
Abridged model	31/12/2013	15/05/2014	23/07/2014	Dutch	PDF
Abridged model	31/12/2012	15/05/2013	24/07/2013	Dutch	PDF
Abridged model	31/12/2011	15/05/2012	21/08/2012	Dutch	PDF
Abridged model	31/12/2010	16/05/2011	25/07/2011	Dutch	PDF
Abridged model	31/12/2009	15/05/2010	28/07/2010	Dutch	PDF
Abridged model	31/12/2008	15/05/2009	31/07/2009	Dutch	PDF
Abridged model	31/12/2007	15/05/2008	27/06/2008	Dutch	PDF
Abridged model	31/12/2006	15/05/2007	13/07/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 k€ and 250 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 · 2 active · 30 ended

Active mandates

Elizabeth Coffey Kathryn

Director · since 15 juillet 2020 · until 16 mai 2026

Active

Stefan Hersch CY

Chairman of the board of directors · since 15 juillet 2020 · until 15 mai 2026

Active

Ended mandates

CY STEFAN HERSCH

Chairman of the board of directors · since 15 juillet 2020 · until 15 mai 2026

Ended

KATHRYN ELIZABETH COFFEY

Director · since 15 juillet 2020 · until 15 mai 2026

Ended

KATHRYN ELIZABETH COFFEY

Director · since 15 juillet 2020 · until 15 mai 2026

Ended

STEFAN HERSCH

Chairman of the board of directors · since 15 juillet 2020 · until 15 mai 2026

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates11/06/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates13/08/2024
ONTSLAGEN - BENOEMINGEN - DIVERSEN
PDF
Mandates26/05/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates13/09/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates16/07/2021
ONTSLAGEN - BENOEMINGEN
PDF
Other26/11/2020
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates18/09/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates04/09/2020
ONTSLAGEN - BENOEMINGEN
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 202521,2 k €↓
2024
Annual accounts 202427,2 k €↑
2023
Annual accounts 202324,2 k €↑
2023
Name changeP.A.V. Security N.V.
2022
Annual accounts 202211,9 k €↓
2021
Annual accounts 202117 k €↓
2021
Name changePAV SECURITY
2020
Annual accounts 2020117,7 k €↑
2019
Annual accounts 2019-51,9 k €↓
2018
Annual accounts 201875,3 k €↓
2017
Annual accounts 2017323,1 k €↑
2016
Annual accounts 2016-421,1 k €↓
2015
Annual accounts 2015-402,8 k €↓
2014
Annual accounts 2014-202,8 k €↓
2013
Annual accounts 2013-130,6 k €↓
2012
Annual accounts 2012-74,1 k €↓
2011
Annual accounts 201194,8 k €↑
2010
Annual accounts 2010-7,8 k €↓
2009
Annual accounts 2009109,6 k €↑
2008
Annual accounts 2008-509 k €↑
2007
Annual accounts 2007-558,2 k €↓
2006
Annual accounts 200660,5 k €
20/09/2000
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

PAV SECURITY

Overview

What does PAV SECURITY 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