Active BE 0819.962.576Public limited company

Primax power

Romeinsesteenweg 358 ·1853 Grimbergen, Belgium· 16 yrs active

Sector: Manufacture of electrical equipment (27200)

Conclusion Checked

Primax power has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €138k and a net result of €15k. Equity is growing by ~9.1% per year across the filed fiscal years. Its solvency ranks better than 24% of 286 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.9% (low).

Based on the State Gazette, CBE and 3 annual accounts.

Key figures

Equity	€138k
Net result	€15k
Better than sector	24%
Active	16 yrs

Financial profile 5 of 5 axes measured · computed by Checked

57 / 100

Mixed profile: strong on stability, weaker on solvency.

All 5 axes are computed from data Checked has read.

Health 56

Profitability 56

Solvency 20

Growth 52

Stability 100

Bankruptcy probability (12 mo) Checked model v1 · free

0.9% Low

0%0,5%1,5%4%10%≥25%

How do we compute this?

Risk Assessment rule-based

0 / 100

Low risk

Trust signals 2 signals

Established

Founded in 2009, 16 years in business.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags0 events

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Checked score FY 2024 · computed

56 / 100 Fair

050100

Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

Indicative credit limit

€8k

estimate, not credit advice

Score history

35 2022

41 2023

56 2024

purely financial, excl. current insolvency signals

Score components

Liquidity Current ratio 0.93 (< 1.0) -10

Leverage Debt/equity 5.33 (> 3.0) -10

Profitability ROE 11% (≥ 10%) +10

Interest coverage Interest coverage 9267.9× (≥ 3×) +8

Profit trend Net profit up YoY +5

Equity growth Equity growing YoY +3

Computed by Checked from the NBB filing for FY 2024. Indicative, not credit advice.

Financial overview15 NBB filings

Annual accounts filed on 21-05-2025 with the NBB · fiscal year 2024 · micro schema

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

growing Equity: growth of ~9.1%/year over 3 fiscal years, indicative, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2024 · NACE 27, Manufacture of electrical equipment · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	15.8%	45.6%	better than 24% of 286 sector peers
Net result	€15k	€8k	better than 62% of 286 sector peers
Equity	€138k	€66k	better than 70% of 286 sector peers
Gross operating margin	€218k	€31k	better than 92% of 286 sector peers
Staff costs	€125k	€46k	higher than 80% of 100 sector peers

EBITDA

€92k

-4.1% 22-24

Net profit

€15k

+120.8% 22-24

Cash flow

€74k

-9.9% 22-24

Total assets

€872k

+30.2% 22-24

Equity

€138k

+12.6% 22-24

Working capital

€-48k

+52.6% 22-24

Staff costs

€125k

+10.5% 22-24

Income taxes

€18k

+30.1% 22-24

Debt

€735k

+34.2% 22-24

Debt ≤ 1y

€735k

+34.2% 22-24

Current ratio

0.93

+14.7% 22-24

Quick ratio

0.89

+22.5% 22-24

Solvency

15.8%

-13.5% 22-24

Debt / equity

5.33

+19.2% 22-24

ROE

11.2%

+96.1% 22-24

ROA

1.8%

+69.5% 22-24

Interest coverage

9267.95

-92.7% 22-24

Figures by fiscal year and ratios

Highlight YoY changes (±10%)

Fiscal year	2024	2023	2022
Deposit	micro schema	micro schema	micro schema
Revenue	-	-	-
EBITDA	€92k	€96k	€651k
Net profit	€15k	€7k	€568k
Cash flow	€74k	€83k	€638k
Staff costs	€125k	€113k	€91k
Income taxes	€18k	€14k	€13k
Dividends	-	-	-
Total assets	€872k	€670k	€574k
Equity	€138k	€122k	€115k
Debt	€735k	€548k	€458k
of which ≤ 1y	€735k	€548k	€458k
of which > 1y	-	-	-
Working capital	€-48k	€-101k	€-148k
Employees (FTE)	-	-	-

Ratios (computed)

	2024	2023	2022
Current ratio	0.93	0.81	0.68
Quick ratio	0.89	0.72	0.40
Working capital ratio	-5.5%	-15.1%	-25.7%
Solvency	15.8%	18.3%	20.1%
Debt / equity	5.33	4.47	3.97
Long-term debt ratio	-	-	-
Interest coverage	9267.95	126963.61	-
Gross margin	-	-	-
Net margin	-	-	-
ROA	1.8%	1.0%	99.1%
ROE	11.2%	5.7%	492.3%
EBITDA margin	-	-	-
Days sales outstanding	-	-	-
Days payable outstanding	-	-	-
Inventory turnover	-	-	-
Days inventory (DSI)	-	-	-

Balance-sheet composition 2024

Assets

Fixed assets €186k · 21.3% Current assets €686k · 78.7%

Equity & liabilities

Equity €138k · 15.8% Debt €735k · 84.2%

Full annual accounts (22 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2024	2023	2022
Balance sheet, Assets
TOTAL ASSETS	20/58	€872k	€670k	€574k
Fixed assets	21/28	€186k	€224k	€263k
Intangible fixed assets	21	€156k	€212k	€259k
Tangible fixed assets	22/27	€30k	€12k	€4k
Current assets	29/58	€686k	€446k	€311k
Stocks & contracts in progress	3	€35k	€50k	€127k
Amounts receivable within one year	40/41	€199k	€241k	€150k
Cash & bank	54/58	€453k	€155k	€35k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€872k	€670k	€574k
Equity	10/15	€138k	€122k	€115k
Contributions / capital	10/11	€100k	€100k	€100k
Accumulated profits (losses)	14	€38k	€22k	€15k
Amounts payable	17/49	€735k	€548k	€458k
Amounts payable within one year	42/48	€735k	€548k	€458k
Trade debts payable within one year	44	€180k	€207k	€188k
Income statement
Gross operating margin	9900	€218k	€210k	€743k
Operating result	9901	€34k	€21k	€581k
Financial charges	65	€10	€1	-
Result before taxes	9903	€34k	€21k	€581k
Income taxes	67/77	€18k	€14k	€13k
Net result for the period	9904	€15k	€7k	€568k
Result to be appropriated	9905	€15k	€7k	€568k

Directors & mandates 2 directors

Current directors & mandates

NASRAT Fadi
Director
State Gazette act 25153739 (05-12-2025)

Current
05-12-2025 → present
2 events
- 05-12-2025 Appointed· Director
- 05-12-2025 Appointed· Managing director
NASRAT Haissam
Director
State Gazette act 25153739 (05-12-2025)

Current
05-12-2025 → present

Legal Structure

NACE primary	Manufacture of electrical equipment(27200)
Legal form	Public limited company(014)
Incorporation	22-10-2009
Status	Active
Postal code	1853

Establishment units 1 location

Romeinsesteenweg 358, 1853 Grimbergen

Manufacture of electrical equipment

since 20092.182.366.970

Real-estate footprint Source: CBE × cadastre

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
23084A0483/00C002	Flanders	171 m²	1 · 82 m²	13.3 m · 3 fl.

Methodology

via registered seat: 1

1 of 1 parcel with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Updates 12 events

All 13Financial 1Gazette 2Filings 10

2025

05-12

State Gazette act Capital & shares

v3.2

21-05

NBB filing Annual accounts filed

fiscal year 2024 · micro schema

2024

01-08

NBB filing Annual accounts filed

fiscal year 2023 · micro schema · 63 days late

2023

30-10

Financial Weakest financial yearnet €7k ▼98.8%

Net result drops to €7k, the lowest in the series; recovery starts the following year.

04-07

NBB filing Annual accounts filed

fiscal year 2022 · micro schema · 35 days late

2022

29-04

NBB filing Annual accounts filed

fiscal year 2021 · micro schema

2021

28-05

NBB filing Annual accounts filed

fiscal year 2020 · micro schema

2020

31-05

NBB filing Annual accounts filed

fiscal year 2019 · micro schema · 1 day late

2019

16-05

NBB filing Annual accounts filed

fiscal year 2018 · micro schema

2018

29-04

NBB filing Annual accounts filed

fiscal year 2017 · micro schema

2017

14-05

NBB filing Annual accounts filed

fiscal year 2016 · abbreviated schema

2016

26-05

NBB filing Annual accounts filed

fiscal year 2015 · full schema

2015

27-10

State Gazette act Registered-office change

v3.2

Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Belgian State Gazette reading coverage 0 of 3 acts read

We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.

Belgisch Staatsblad, acts 2 acts

Capital history · 1

05-12-2025

v3.2

Address history · 1

27-10-2015

v3.2

All acts · 2 updated 9 months ago

2025

05-12-2025 Transaction in capital or shares Capital & shares

Summary: v3.2

Original publication ↗

Technical details

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  "events": [],
  "schema": "v3.2",
  "act_meta": {
    "model_id": 36,
    "extractor": "constrained-core-35b"
  },
  "subject_company": {
    "kbo": "0819.962.576",
    "name_full": "PRIMAX TECHNOLOGIES",
    "legal_form": "SA"
  }
}

2015

27-10-2015 Registered office moved from Braine-l'Alleud to Strombeek-Bever Registered-office change

Boulevard de France 9, 1420 Braine-l'Alleud → Romeinsesteenweg 358, 1853 Strombeek-Bever

Summary: v3.2

Original publication ↗

Technical details

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  "events": [
    {
      "kind": "zetel_transfer",
      "seat_type": "statutaire",
      "new_address": {
        "city": "Strombeek-Bever",
        "region": "Vlaams Gewest",
        "street": "Romeinsesteenweg",
        "country": "BE",
        "postcode": "1853",
        "box_number": "2",
        "street_number": "358"
      },
      "old_address": {
        "city": "Braine-l\u0027Alleud",
        "region": "Vlaams Gewest",
        "street": "Boulevard de France",
        "country": "BE",
        "postcode": "1420",
        "box_number": null,
        "street_number": "9"
      },
      "effective_date": "2015-09-30",
      "evidence_quote": "L\u0027assembl\u00E9e g\u00E9n\u00E9rale du 30 septembre 2015 acte le trsfaert du si\u00E8ge social: ROMEINSESTEENWEG 358 bte 2 (3eme \u00E9tage) 1853 STROMBEEK-BEVER"
    }
  ],
  "schema": "v3.2",
  "act_meta": {
    "model_id": 36,
    "extractor": "constrained-core-35b"
  },
  "subject_company": {
    "kbo": "0819.962.576",
    "name_full": "PRIMAX TECHNOLOGIES",
    "legal_form": "SA"
  }
}

Credit advice verdict per customer and amount

Company registry (CBE) Crossroads Bank

Activities

Manufacture of electrical equipment27200

Names & trade names

Legal nameNL

Primax power

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