PENNE

Active

Public limited companyfounded 1972active for 54 yearsWijngaardveld 32, 9300 Aalst, BelgiumKBO/BCE: BE 0412.652.648

Summary

PENNE has been active since 1972 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €8.0m and a net result of €1.2m. Equity is growing by about 3% per year across the filed financial years. Its solvency ranks better than 19% of 828 sector peers (NACE 25, financial year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).

Risk analysisFollow Report Compare

PENNEActiveChecked score 87/100

Risk analysis Report Compare

Activity

Manufacture of fabricated metal products, except machinery and equipment

NACE 25999Manufacture of fabricated metal products, except machinery and equipment NACE 25402

4th largest company by total assets in Aalst, Manufacturing sector1 site

Size

€41.5mturnover 2025

Staff: 99.8 FTE
Equity: €8.0m
Profit: €1.2m

Financial health

87 Excellent Checked score 2025

Bankruptcy probabilitywithin 12 months: 0.2%

Structure

Parent: Penne International · 100%
Board: 5 members

Frans Penne Management NVDaily manager

Auditor: Ernst et Young Reviseurs d'Entreprises2025 accounts 49 days early6 of 20 deeds summarised

Why 87raises riskEquity €8.0m (21.2% of total assets)Sector: Manufacture of fabricated metal products, except machinery and equipment (NACE 25)lowers riskSize: turnover €41.5m, 99.8 FTE, total assets €37.7mLegal form: public limited companyShow the evidence

Checked score

Score 2025

87 / 100

Excellent

Probability in this band: under 0.55%

Financially better than 50% of its sector peers (NACE 25, medium-sized)

Every signal that counts is listed under Signals.

Financial strength · tick = 2024

Average

Solvency 46-5

equity 21.2% of total assets

Liquidity 46+3

short-term debt 34.9% · cash 9.2%

Profitability 74-8

return on assets 3.2%

Bankruptcy probability, 12 months

0.2% Very low

0%0.5%1.5%4%10%≥ 25%

About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.2% (132 companies, NACE 25, medium-sized)

Last 24 months 11-2024: 0.1% 12-2024: 0.1%● unchanged vs 11-2024 01-2025: 0.1%● unchanged vs 12-2024 02-2025: 0.1%● unchanged vs 01-2025 03-2025: 0.1%● unchanged vs 02-2025 04-2025: 0.1%● unchanged vs 03-2025lowest value 05-2025: 0.1%● unchanged vs 04-2025 06-2025: 0.1%● unchanged vs 05-2025 07-2025: 0.2%▲ +0.1 percentage points vs 06-2025 08-2025: 0.2%● unchanged vs 07-2025 09-2025: 0.2%● unchanged vs 08-2025 10-2025: 0.2%● unchanged vs 09-2025 11-2025: 0.2%● unchanged vs 10-2025 12-2025: 0.2%● unchanged vs 11-2025 01-2026: 0.2%● unchanged vs 12-2025 02-2026: 0.2%● unchanged vs 01-2026 03-2026: 0.2%● unchanged vs 02-2026 04-2026: 0.2%● unchanged vs 03-2026 05-2026: 0.2%● unchanged vs 04-2026 06-2026: 0.2%● unchanged vs 05-2026 07-2026: 0.2%● unchanged vs 06-2026highest value 08-2026: 0.2%● unchanged vs 07-2026highest value 09-2026: 0.2%● unchanged vs 08-2026highest value 10-2026: 0.2%● unchanged vs 09-2026highest value

Credit of up to €650,000 on 30-day terms is acceptable

Liquidity tight (current ratio 1.25, compared with 1.59 in 2024, below the usual 1.5; short-term debt: 34.9% and cash: 9.2% of total assets), and 78.8% of the assets are financed with debt and provisions.

How it is calculated

The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:

75-100	Excellent	under 0.55%
60-74	Healthy	0.55% to 1.5%
45-59	Fair	1.5% to 4.2%
25-44	Weak	4.2% to 15.0%
0-24	Critical	over 15.0%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 25, medium-sized): better than 18% on solvency, 65% on liquidity, 70% on profitability and 47% on growth.

The bankruptcy probability was computed on 29-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Signals

Six signals.

lowers riskraises riskneutral

Equity €8.0m (21.2% of total assets)

NBB · annual accounts

Sector: Manufacture of fabricated metal products, except machinery and equipment (NACE 25)

KBO

Size: turnover €41.5m, 99.8 FTE, total assets €37.7m

Companies of this size fail less often; how much that weighs depends on the rest of its profile.

NBB · annual accounts

Legal form: public limited company

KBO

Weak solvency vs sector

Solvency (equity / total assets) is in the sector's weakest quartile: better than 19% of 828 sector peers (2025).

NBB · sector comparison

Position among 828 sector peers

Solvency

better than 19%

← weakest strongest →

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 12-06-2026, 49 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

49 days early

2024

38 days early

2023

51 days early

2022

38 days early

2021

17 days early

2020

3 days late

2019

21 days late

← before the deadline after the deadline →

tick = median of all Belgian filingsring = median in the sector

This company filed its last 7 accounts on average 24 days before the deadline; the sector median (NACE 25) for financial year 2024 is 7 days before the deadline, and 35% of those companies filed late.

Searched, nothing found (2)

Next filing not due yet

The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 23 June (5 of the last 5 filed years within 30 days of that day).

Companies Code · seven months

Where today falls in the filing period

30-10-2026 today31-12-2026 year end31-07-2027 deadline

No strike-offs in the KBO publications

Searched since 2021.

KBO publications · our coverage

28-07-2026 Reappointment: EY Bedrijfsrevisoren BV (statutory auditor)Permanent representative: Evelien De Groote
12-06-2026 Annual accounts filedfinancial year 2025 · full…
23-06-2025 Annual accounts filedfinancial year 2024 · full…

Key points

Caution: Among the weakest 19% on solvencysector median 45.4% · 828 companies 21.2% View
Caution: Result fell in 2025from €2.4m to €1.2m ▼ 49.5% View
Positive: 8 profitable years in a rowprofit 2025: €1.2m 8 years View
Controlled by Penne Internationalultimately: Penne Enterprises 100% View
Positive: Filed on time since financial year 2021accounts within the deadline every year 5 years View
Active since 1972founded 19-09-1972 54 years View
Flemish supportawarded from 2022 to 2025 €183,729 View

By topic

Financials

Financial year: 2025
Turnover: €41.5m
Profit: €1.2m
Solvency: 21.2%

Turnover▲ 9.4%

Net result

20182025

Go to Financials

Board & ownership

Board: 5 members
Parent: Penne International · 100%
Auditor: Ernst et Young Reviseurs…

Penne EnterprisesDirector
Frans Penne Management NVDaily manager
JPIDirector
Penne InternationalDirector
SluitsteenDirector

Go to Board & ownership

Network & group

Group: Penne Enterprises

Go to Network & group

Timeline

Events: 58
Since: 1978
Next accounts: by 31-07-2027

10-06-2024Annual accounts filed
19-10-2023Appointment: Frans Penne Management NV (day-to-day manager)
16-10-2023Reappointments: FRANS PENNE MANAGEMENT NV, SLUITSTEEN and…

Go to Timeline

Company details

Sites: 1

Legal form: Public limited company
Activity: Manufacture of fabricated metal products, except machinery and…NACE 25999
Founded: 19-09-1972
Year ends: 31-12
Peppol: Reachable for e-invoices

Go to Company details

Articles of association

Provisions read: 6

Who signs: The sole director

Go to Articles of association

Key facts about PENNE

What is the company number of PENNE?: 0412.652.648. In Belgium the VAT number is the company number with BE in front: BE 0412.652.648.
Where is PENNE based?: The registered office is at Wijngaardveld 32, 9300 Aalst.Company details
What does PENNE do?: According to the KBO register, the main activity is manufacture of fabricated metal products, except machinery and equipment (NACE 25999).
What is the legal form of PENNE?: Public limited company (NV).
When was PENNE founded?: On 19-09-1972.
Is PENNE still active?: Yes, PENNE is an active enterprise in the KBO register.
How many employees does PENNE have?: On average 99.8 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
What is the turnover of PENNE?: €41.5m in financial year 2025, according to the filed annual accounts.
Is PENNE profitable?: In financial year 2025, PENNE made a profit of €1.2m.
Where can I find the annual accounts of PENNE?: PENNE filed 49 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
When are the next annual accounts of PENNE due?: By 31-07-2027, for financial year 2026.Timeline