RE Panels 3
ActiveRE Panels 3 is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €81.44M and a net result of €11.78M. Equity is growing by ~4.4% per year across the filed fiscal years. Its solvency ranks better than 39% of 3168 sector peers (fiscal year 2025). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
Signals
Three signals. The signal on the left, the evidence on the right.
○neutral
neutral · A punctual record breaks
This company filed 4 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 29-08-2026, 29 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 7 filingsDeviation from the deadline
2025
29 d late
2024
13 d early
2023
26 d early
2022
27 d early
2021
18 d early
2020
31 d late
2019
81 d late
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
14-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Equity
€81.44M▲ 6.2%
2024 · €76.66M
2019: €66.40M
2020: €62.98M
2021: €72.63M
2022: €75.56M
2023: €80.50M
2024: €76.66M
2019 → 2025
Net result
€11.78M
2024 · €-3.84M
2019: €-1.06M
2020: €-3.42M
2021: €9.65M
2022: €2.93M
2023: €4.94M
2024: €-3.84M
2019 → 2025
Total assets
€205.80M▲ 29.1%
2024 · €159.44M
2019: €153.39M
2020: €152.97M
2021: €157.68M
2022: €156.04M
2023: €158.03M
2024: €159.44M
2019 → 2025
Solvency
39.6%▼ 8.5pp
2024 · 48.1%
2019: 43.3%
2020: 41.2%
2021: 46.1%
2022: 48.4%
2023: 50.9%
2024: 48.1%
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€72.63M-€75.56M▲ 4.0%€80.50M▲ 6.5%€76.66M▼ 4.8%€81.44M▲ 6.2%
Operating result€-3.74M-€-497k▲ 86.7%€-1.26M▼ 153%€-1.11M▲ 11.4%€7.64M
Net result€9.65M-€2.93M▼ 69.6%€4.94M▲ 68.5%€-3.84M€11.78M
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €7.64M after a loss of €1.11M in 2024, the highest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €203.28M
Fixed assets
€131.28M▲ 15.2%
Current assets
€72.01M▲ 69.8%
Equity and liabilities €205.80M
Equity
€81.44M▲ 6.2%
Debt
€124.36M▲ 50.2%
The debt ratio rises from 51.9% to 60.4%: debt grows faster than equity.
Key figures and ratios
Solvency
39.6%▼
2024 · 48.1%
ROE
14.5%▲
2024 · -5.0%
ROA
5.7%▲
2024 · -2.4%
Debt
€124.36M▲
2024 · €82.78M
Debt ≤ 1 year
€60.68M▲
2024 · €14.31M
Debt > 1 year
€63.00M▼
2024 · €67.60M
Income taxes
€295k▲
2024 · €6k
Staff costs
€1.35M▲
2024 · €978k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€159.44M€205.80M▲
Formation expenses20€3.06M€2.52M▼
Fixed assets21/28€113.98M€131.28M▲
Intangible fixed assets21€4.40M€21.62M▲
Tangible fixed assets22/27€45k€93k▲
Furniture and vehicles24€45k€93k▲
Financial fixed assets28€109.54M€109.56M=
Current assets29/58€42.39M€72.01M▲
Amounts receivable after more than one year29€35.00M€35.00M=
Other amounts receivable291€35.00M€35.00M=
Amounts receivable within one year40/41€4.53M€23.25M▲
Trade receivables40€4.19M€17.14M▲
Other amounts receivable41€333k€6.11M▲
Cash at bank and in hand54/58€2.75M€13.67M▲
Deferred charges and accrued income490/1€121k€88k▼
Equity and liabilities
Total equity and liabilities10/49€159.44M€205.80M▲
Equity10/15€76.66M€81.44M▲
Contributions10/11€67.46M€67.46M=
Capital10€67.46M€67.46M=
Issued capital100€67.46M€67.46M=
Reserves13€6.75M€7.34M▲
Non-distributable reserves130/1€6.75M€7.34M▲
Legal reserve130€6.75M€7.34M▲
Profit (loss) carried forward14€2.45M€6.64M▲
Amounts payable17/49€82.78M€124.36M▲
Amounts payable after more than one year17€67.60M€63.00M▼
Financial debts170/4€67.60M€63.00M▼
Amounts payable within one year42/48€14.31M€60.68M▲
Current portion of amounts payable after more than one year42€4.10M€4.60M▲
Financial debts43€7k€5k▼
Credit institutions430/8€7k€5k▼
Trade debts44€5.76M€48.48M▲
Suppliers440/4€5.76M€48.48M▲
Taxes, remuneration and social security45€138k€492k▲
Taxes450/3€93k€354k▲
Remuneration and social security454/9€45k€139k▲
Other amounts payable47/48€4.30M€7.11M▲
Accrued charges and deferred income492/3€873k€676k▼
Income statement
Code20242025
Remuneration, social security and pensions62€978k€1.35M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€841k€3.08M▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€50k
Other operating charges640/8€6k€2k▼
Gross operating margin9900€712k€12.11M▲
Operating profit (loss)9901€-1.11M€7.64M▲
Financial income75/76B€1.88M€8.28M▲
Recurring financial income75€1.88M€8.28M▲
Financial charges65/66B€4.61M€3.84M▼
Recurring financial charges65€4.61M€3.84M▼
Profit (loss) for the period before taxes9903€-3.84M€12.07M▲
Income taxes67/77€6k€295k▲
Profit (loss) for the period9904€-3.84M€11.78M▲
Profit (loss) for the period to be appropriated9905€-3.84M€11.78M▲
Appropriation of the result
Profit (loss) to be appropriated9906€2.45M€14.23M▲
Profit (loss) brought forward from the previous period14P€6.29M€2.45M▼
Transfer to equity691/2-€589k
To the legal reserve6920-€589k
Profit to be distributed694/7-€7.00M
Return on contributions (dividend)694-€7.00M
Social balance
Average headcount (FTE)90872.73.6▲
The notes to these accounts (17 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
29-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 29 days late
2025
31-12
Financial
Back to profitnet €11.78M
Net result €11.78M after one loss-making year.
18-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Weakest financial yearnet €-3.84M ▼178%
Net result drops to €-3.84M, the lowest in the series; recovery starts the following year.
05-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
04-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
13-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Back to profitnet €9.65M
Net result €9.65M after 2 loss-making years.
31-12
Financial
Liquidity triplescurrent ratio 12.35
Current ratio from 3.63 to 12.35; short-term debt falls from €10.44M to €3.52M.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 31 days late
2020
20-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 81 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
12 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Tournai · 1 establishment unit since 2024
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Rue du Bois des Hospices(BL) 37522 TournaiGround area
1.0 ha
Building footprint
7,360 m²
Volume, LiDAR
65,715 m³
Parcel 57008D0179/00Y000, Wallonia · tallest building 13.0 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Rue du Bois des Hospices(BL) 3, 7522 Tournai
since 20242.358.627.155
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 57008D0179/00Y000 | Wallonia | 1.0 ha | 1 · 7,360 m² | 13.0 m · 3 fl. |
Linked by address, not proof of ownership
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.
Recognitions · licences · registrations
Legal Entity Identifier
8755001KXFW0DJK5OJ82
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Of 24,637 companies in sector 64210 we hold annual accounts for 19,690. 2,043 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded23-08-2019
Fiscal year end31-12
Activities, NACEBEL
64200Holdings
64210Activities of holding companies
70200Business and other management consultancy
70220Business consulting
82100Office administrative and support services
82110Office administrative, office support and other business support activities
82990Other business support services
Sources
Crossroads Bank for EnterprisesNational Bank · 7 filingsAddress and cadastre registers
Data from official sources, last processed on 14-09-2026. Scores and ratios are computed by Checked and are not a credit decision.