Summary
Conclusion
the dossier summarised in one paragraphThe computed 12-month bankruptcy probability of PUNCH POWERTRAIN is 0.4% (very low). The 2023 annual accounts show equity of €9.10M and a net result of €-61.45M. Equity is shrinking by ~50.7% per year across the filed fiscal years. The company has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals.
Based on the State Gazette, CBE and 5 annual accounts.
Bankruptcy probability (12 mo)
Checked model v1 · free for everyoneStatistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?
Trust signals
3 signalsAdministrative Flags
Financials
Annual accounts & ratios
Source: NBB · 2023How 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).
| Fiscal year | 2023 |
|---|---|
| Revenue | €21.97M |
| EBITDA | €11.59M |
| Net profit | €-61.45M |
| Cash flow | €-40.92M |
| Staff costs | €7.88M |
| Income taxes | €-520k |
| Dividends | - |
| Total assets | €528.65M |
| Equity | €9.10M |
| Debt | €518.96M |
| of which ≤ 1y | €491.13M |
| of which > 1y | €22.02M |
| Working capital | €-379.67M |
| Employees (FTE) | 65.0 |
| 2023 | |
|---|---|
| Current ratio | 0.23 |
| Quick ratio | 0.21 |
| Working capital ratio | -71.8% |
| Solvency | 1.7% |
| Debt / equity | 57.04 |
| Long-term debt ratio | 2.42 |
| Interest coverage | 0.41 |
| Gross margin | 45.4% |
| Net margin | -279.7% |
| ROA | -11.6% |
| ROE | -675.4% |
| EBITDA margin | 52.8% |
| Days sales outstanding | 1131d |
| Days payable outstanding | 2503d |
| Inventory turnover | 1.69 |
| Days inventory (DSI) | 216d |
| Line item | Code | 2023 |
|---|---|---|
| Balance sheet, Assets | ||
| TOTAL ASSETS | 20/58 | €528.65M |
| Fixed assets | 21/28 | €417.19M |
| Intangible fixed assets | 21 | €128.26M |
| Tangible fixed assets | 22/27 | €20.91M |
| Financial fixed assets | 28 | €268.01M |
| Current assets | 29/58 | €111.46M |
| Stocks & contracts in progress | 3 | €7.10M |
| Amounts receivable within one year | 40/41 | €94.79M |
| Cash & bank | 54/58 | €2.87M |
| Balance sheet, Equity & liabilities | ||
| TOTAL EQUITY & LIABILITIES | 10/49 | €528.65M |
| Equity | 10/15 | €9.10M |
| Contributions / capital | 10/11 | €110.31M |
| Reserves | 13 | €5.82M |
| Accumulated profits (losses) | 14 | €-107.49M |
| Provisions & deferred taxes | 16 | €592k |
| Amounts payable | 17/49 | €518.96M |
| Amounts payable after one year | 17 | €22.02M |
| Amounts payable within one year | 42/48 | €491.13M |
| Trade debts payable within one year | 44 | €82.30M |
| Income statement | ||
| Turnover | 70 | €21.97M |
| Operating result | 9901 | €-8.93M |
| Financial income | 75 | €198k |
| Financial charges | 65 | €30.21M |
| Result before taxes | 9903 | €-61.97M |
| Income taxes | 67/77 | €-520k |
| Net result for the period | 9904 | €-61.45M |
| Result to be appropriated | 9905 | €-61.45M |
Health barometer
FY 2023 · computedUnlock the full score breakdown, per-year score history and the indicative credit limit with Plus.
See plans →Directors
Directors & mandates
75 directors-
Current15-05-2023 → present
3 events
- 15-05-2023 Appointed· Director
- 15-05-2023 Appointed· Managing director
- 26-01-2023 Resigned· Lid van het directiecomité
-
Current01-05-2023 → present
3 events
- 10-12-2025 Mandate renewed· Director
- 02-04-2024 Mandate renewed· Director
- 01-05-2023 Appointed· Director
-
YvKa BVLegal entityDirector· perm. rep.: Yves FrenayState Gazette act 23096253 (27-07-2023)Current26-01-2023 → present
-
Current01-01-2023 → present
-
Current01-08-2022 → present
4 events
- 10-12-2025 Mandate renewed· Director
- 02-04-2024 Mandate renewed· Director
- 15-05-2023 Mandate renewed· Director
- 01-08-2022 Appointed· Director
-
Current19-05-2022 → present
-
Current26-11-2021 → present
7 events
- 10-12-2025 Mandate renewed· Director
- 02-04-2024 Mandate renewed· Director
- 15-05-2023 Mandate renewed· Director
- 01-08-2022 Mandate renewed· Director
- 19-05-2022 Mandate renewed· Director
- 09-02-2022 Mandate renewed· Director
- 26-11-2021 Appointed· Director
Historic, not recently confirmed (25)
-
MerakisolLegal entityDirector· perm. rep.: Jorge SolisState Gazette act 19143545 (29-10-2019)Not recently confirmedlast confirmed in an act from 2019
2 events
- 07-10-2019 Appointed· Director
- 07-10-2019 Appointed· Managing director
-
Not recently confirmedlast confirmed in an act from 2018
-
Not recently confirmedlast confirmed in an act from 2018
-
VANO BVLegal entityDirector· perm. rep.: Cor van OtterlooState Gazette act 18146505 (03-10-2018)Not recently confirmedlast confirmed in an act from 2018
2 events
- 03-10-2018 Appointed· Director
- 01-02-2018 Appointed· Director
-
3M Management BVBALegal entityDirector· perm. rep.: Elias van WijkState Gazette act 18048616 (20-03-2018)Not recently confirmedlast confirmed in an act from 2018
-
Haspe BVBALegal entityDirector· perm. rep.: Jan BeckersState Gazette act 18048616 (20-03-2018)Not recently confirmedlast confirmed in an act from 2018
-
Not recently confirmedlast confirmed in an act from 2018
-
Not recently confirmedlast confirmed in an act from 2018
-
Pívofin BVBALegal entityDirector· perm. rep.: Loi leng Lam (Fiona)State Gazette act 18048616 (20-03-2018)Not recently confirmedlast confirmed in an act from 2018
-
YvKa BVBALegal entityDirector· perm. rep.: Yves FrenayState Gazette act 18048616 (20-03-2018)Not recently confirmedlast confirmed in an act from 2018
-
Vano B.V.Legal entityDirector· perm. rep.: Cornelis Van OtterlooState Gazette act 16129225 (19-09-2016)Not recently confirmedlast confirmed in an act from 2016
11 events
- 19-04-2019 Resigned· Director
- 19-04-2019 Resigned· Managing director
- 31-08-2016 Resigned· Director
- 31-08-2016 Resigned· Managing director
- 31-08-2016 Appointed· Director
- 31-08-2016 Appointed· Managing director
- 03-02-2014 Resigned· Director
- 03-02-2014 Appointed· Director
- 06-01-2014 Appointed· Managing director
- 29-05-2009 Resigned· Director
- 29-05-2009 Appointed· Managing director
-
NV LRMLegal entityDirector· perm. rep.: Stijn BijnensState Gazette act 14071618 (02-04-2014)Not recently confirmedlast confirmed in an act from 2014
-
Capricorn Venture PartnersLegal entityDirector· perm. rep.: Jos PeetersState Gazette act 14032602 (03-02-2014)Not recently confirmedlast confirmed in an act from 2014
2 events
- 03-02-2014 Resigned· Director
- 03-02-2014 Appointed· Director
-
Limburgse Reconversie MaatschappijLegal entityDirector· perm. rep.: Stijn BijnensState Gazette act 14032602 (03-02-2014)Not recently confirmedlast confirmed in an act from 2014
2 events
- 03-02-2014 Resigned· Director
- 03-02-2014 Appointed· Director
Former directors (43)
-
Former02-04-2024 → 01-03-2025
2 events
- 01-03-2025 Resigned· Director
- 02-04-2024 Appointed· Director
-
Former15-05-2023 → 01-11-2024
3 events
- 01-11-2024 Resigned· Director
- 02-04-2024 Mandate renewed· Director
- 15-05-2023 Appointed· Director
-
Former26-11-2021 → 02-04-2024
6 events
- 02-04-2024 Resigned· Director
- 15-05-2023 Mandate renewed· Director
- 01-08-2022 Mandate renewed· Director
- 19-05-2022 Mandate renewed· Director
- 09-02-2022 Mandate renewed· Director
- 26-11-2021 Appointed· Director
-
Former01-02-2021 → 31-12-2023
3 events
- 31-12-2023 Resigned· Lid van het managementcomité
- 26-01-2023 Resigned· Lid van het directiecomité
- 01-02-2021 Appointed· Lid van het directiecomité
-
ID&D NVLegal entityDirector· perm. rep.: Stijn BijnensState Gazette act 22118177 (05-10-2022)Former23-06-2020 → 15-05-2023
6 events
- 15-05-2023 Resigned· Director
- 01-08-2022 Mandate renewed· Director
- 19-05-2022 Mandate renewed· Director
- 09-02-2022 Mandate renewed· Director
- 26-11-2021 Mandate renewed· Director
- 23-06-2020 Mandate renewed· Director
-
Former23-06-2020 → 15-05-2023
6 events
- 15-05-2023 Resigned· Director
- 01-08-2022 Mandate renewed· Director
- 19-05-2022 Mandate renewed· Director
- 09-02-2022 Mandate renewed· Director
- 26-11-2021 Mandate renewed· Director
- 23-06-2020 Appointed· Director
-
Former01-08-2022 → 15-05-2023
2 events
- 15-05-2023 Resigned· Director
- 01-08-2022 Mandate renewed· Director
-
Former26-11-2021 → 15-05-2023
5 events
- 15-05-2023 Resigned· Director
- 01-08-2022 Mandate renewed· Director
- 19-05-2022 Mandate renewed· Director
- 09-02-2022 Mandate renewed· Director
- 26-11-2021 Appointed· Director
-
MerakiSoL BVLegal entityDirector· perm. rep.: Jorge SolisState Gazette act 23096253 (27-07-2023)Former23-06-2020 → 01-05-2023
8 events
- 01-05-2023 Resigned· Director
- 01-05-2023 Resigned· Managing director
- 26-01-2023 Appointed· Director
- 01-08-2022 Mandate renewed· Director
- 19-05-2022 Mandate renewed· Director
- 09-02-2022 Mandate renewed· Director
- 26-11-2021 Mandate renewed· Director
- 23-06-2020 Mandate renewed· Director
-
Former- → 26-01-2023
-
Former11-05-2020 → 26-01-2023
2 events
- 26-01-2023 Resigned· Lid van het directiecomité
- 11-05-2020 Appointed· Lid van het directiecomité
-
Former- → 26-01-2023
-
Former01-08-2022 → 30-08-2022
2 events
- 30-08-2022 Resigned· Director
- 01-08-2022 Appointed· Director
-
Former09-02-2022 → 19-05-2022
2 events
- 19-05-2022 Resigned· Director
- 09-02-2022 Appointed· Director
Statutory auditor
5 auditors| Statutory auditor | IRE/IBR number | Tenure |
|---|---|---|
| BV PwC BedrijfsrevisorenCurrent Statutory auditor · represented by Peter D'hondt |
- | 26-01-2024 → present |
| Deloitte Bedrijfsrevisoren bvcvba Statutory auditor · represented by Dominique Roux succeeded by KPMG Bedrijfsrevisoren Burg. CVBA in 2016 |
- | 01-01-2013 → 01-01-2016 |
| KPMG Statutory auditor |
- | - → 20-03-2018 |
| KPMG Bedrijfsrevisoren Burg. CVBA Statutory auditor · represented by Raf Cox succeeded by PWC Bedrijfsrevisoren BCVBA in 2020 |
- | 01-01-2016 → 14-12-2020 |
| PWC Bedrijfsrevisoren BCVBA Statutory auditor · represented by Peter D'hondt succeeded by BV PwC Bedrijfsrevisoren in 2024 |
- | 14-12-2020 → 26-01-2024 |
Insolvency mandates
Legal Structure
| NACE primary | Vervaardiging van andere delen en toebehoren voor motorvoertuigen(29320) |
| Legal form | Public limited company(014) |
| Incorporation | 30-04-1998 |
| Status | Active |
| Postal code | 3800 |
Structure & network
Connections & network
37 connected companiesLocations & real estate
Registered office
on the map · from the address registerEstablishment units
1 locationReal-estate footprint
Source: CBE × cadastre · address linkingParcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71352D0248/00R003 | Flanders | 9,228 m² | 1 · 994 m² | 14.5 m · 3 fl. |
Publications
Lifecycle & Insolvency Signals
Belgian State Gazette · acts
64 verified actsWhat every Belgian State Gazette publication actually says, each act broken down into appointments, capital movements, seat moves and statute amendments.
- General meeting , 31/03/2025
- Director resignation, Li Guangdong (bestuurder)
- Director discharge, Li Guangdong
- Director resignation, Yong Yu (bestuurder)
- Director reappointment, Ye Ji (bestuurder)
- Director reappointment, Yuming Zhang (bestuurder)
- General meeting , 02/04/2024
- Director resignation, Binghan Lin (bestuurder)
- Director discharge, Binghan Lin
- Director appointment, Yong Yu (bestuurder)
- Director reappointment, Ye Ji (bestuurder)
- Director reappointment, Yuming Zhang (bestuurder)
- Board meeting , 04/01/2024
- Director resignation, Steffen Bätzel (lid van het managementcomité)
- General meeting , 2023-11-28
- Auditor appointment, PwC Bedrijfsrevisoren (commissaris)
- Permanent representative, Peter D'hondt (vertegenwoordiger)
- General meeting , 23/11/2023
- Capital increase , €2.750.000
- Bank account , 21/11/2023
- Power of attorney, het bestuursorgaan
- Statutes amendment
- General meeting , 27/10/2023
- Capital increase , €770.000
- Bank account , 26/10/2023
- Power of attorney, PUNCH POWERTRAIN
- Statutes amendment
- General meeting , 28/09/2023
- Capital increase , €2.000.000
- Capital , €99.604.434,64
- Bank account , 27/09/2023
- Power of attorney, PUNCH POWERTRAIN
- Board meeting , 31/05/2023
- Director resignation, MerakiSol BV (lid van het managementcomité)
- Director appointment, Sébastien Mazoyer (CEO)
- Director appointment, Terence (Tianjun) Liu (CFO)
- Director appointment, Juan Carlos Flores Regla (CPO)
- Director appointment, YvKa BV (CHRO)
- General meeting , 07/08/2023
- Capital increase , €4.400.000
- Capital , €97.604.434,64
- Bank account , BNP Paribas Fortis NV, 4.400.000,00
- Power of attorney, PUNCH POWERTRAIN
- Board meeting , 30/05/2023
- Director appointment, Merakisol BV (lid van het managementcomité)
- Director appointment, Jorge Solis (CEO)
- Director appointment, Terence (Tianjun) Liu (CFO)
- Director appointment, Sébastien Mazoyer (CS&MO)
- Director appointment, Juan Carlos Flores Regla (CPO)
- General meeting , 26/06/2023
- Capital increase , €2.600.000
- Capital , €93.204.434,64
- Bank account , 26/06/2023
- Power of attorney, bestuursorgaan
- General meeting , mei 2023
- Board meeting , 16 mei 2023
- Director resignation, MerakiSol BV (bestuurder)
- Director resignation, ID&D NV (bestuurder)
- Director resignation, Leon Liu (bestuurder)
- Director resignation, Ying Zhang (bestuurder)
Show 12 older acts
What every Belgian State Gazette publication actually says, each act broken down into appointments, capital movements, seat moves and statute amendments.
- General meeting , 12/05/2023
- Capital increase , €6.900.000
- Capital , €90.604.434,64
- Bank account , BNP Paribas Fortis NV, 6.900.000,00
- Statutes amendment
- General meeting , 26/04/2023
- Capital increase , €5.900.000
- Capital , €83.704.434,64
- Bank account , 20/04/2023
- Power of attorney, PUNCH POWERTRAIN
- Statutes amendment
- General meeting , 26-01-2023
- Capital increase , €19.851.000
- Bank account , 19-01-2023
- Statutes amendment
- Corporate purpose , De Vennootschap heeft tot voorwerp, in België en in het buitenland, het ontwikkelen, het vervaardigen en de verkoop van onderdelen, elementen en systemen voor m…
- Director resignation, Merakisol (Lid van het directiecomité)
- Board meeting , 20/12/2022
- Director appointment, Liu Tianjun (lid van het directiecomité)
- Permanent representative, Jorge Solis Gonzalez
- Permanent representative, Yves Frenay
- General meeting , 05/09/2022
- Director resignation, Hans-Peter Kunze (bestuurder)
- Director discharge, Hans-Peter Kunze
- General meeting , 01/08/2022
- Director appointment, Ji Ye (bestuurder)
- Director appointment, Hans-Peter Kunze (bestuurder)
- Director reappointment, Yuming Zhang (bestuurder)
- Director reappointment, Ying Zhang (bestuurder)
- Director reappointment, Binghan Lin (bestuurder)
- Board meeting , 29/07/2022
- Director resignation, Pivofin BV (lid van het directiecomité)
- Director discharge, Pivofin BV
- Director appointment, MerakiSol (lid van het directiecomité)
- Permanent representative, Jorge Solis Gonzalez
- Director appointment, YvKa BVBA (lid van het directiecomité)
- Board meeting , 18/08/2022
- Merger , Inbreng van een bedrijfstak (electric vehicles)
- Power of attorney, Merakisol BV
- Corporate purpose , De Vennootschap heeft tot doel, in België en in het buitenland, het ontwikkelen, het vervaardigen en de verkoop van onderdelen, elementen en systemen voor mecha…
- Corporate purpose , De vennootschap heeft de uitoefening van de volgende verrichtingen tot voorwerp, zowel in België als in het buitenland, voor eigen rekening, voor rekening van d…
- Consideration , nieuwe, gewone aandelen op naam zonder nominale waarde als enige vergoeding; kapitaalverhoging bepaald op basis van boekwaarde van de Activa en Passiva
- Board meeting , 15/03/2022
- Director resignation, 3M Management BV (lid van het directiecomité)
- Director discharge, 3M Management BV
- Permanent representative, Elias van Wijk
- Permanent representative, Jorge Solis Gonzalez
- Permanent representative, Loi leng Lam (Fiona)
- General meeting , 19/05/2022
- Director resignation, Mr. Tianyu Zhou (bestuurder)
- Director discharge, Mr. Tianyu Zhou
- Director appointment, Ms. Yan Lu (bestuurder)
- Mandate compensation, Ms. Yan Lu
- Director reappointment, Yuming Zhang (bestuurder)
- General meeting , 11/02/2022
- Director resignation, Han Bing (bestuurder)
- Director discharge, Han Bing
- Director appointment, Zhou Tianyu (bestuurder)
- Director reappointment, Yuming Zhang (bestuurder)
- Director reappointment, Ying Zhang (bestuurder)
- General meeting , 02/12/2021
- Director resignation, Xuqiang Xiong (bestuurder)
- Director resignation, Hung Chuk Keung (bestuurder)
- Director resignation, Jikai Xiong (bestuurder)
- Director resignation, Wang Xiangdong (bestuurder)
- Director resignation, Wang Deyin (bestuurder)
Analysis
Snowflake analysis
financial profile on 5 axesFragile profile, watch solvency in particular.
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Company registry (CBE)
Crossroads Bank| Legal nameNL | PUNCH POWERTRAIN |