The bright BL Lac object PKS 2005-489 was observed by BeppoSAX on November 1-2, 1998, following an active X-ray state detected by RossiXTE. The source, detected between 0.1 and 200 keV, was in a very high state with a continuum well fitted by a steepening spectrum due to synchrotron emission only. Our X-ray spectrum is the flattest ever observed for this source. The different X-ray spectral slopes and fluxes, as measured by various satellites, are consistent with relatively little changes of the peak frequency of the synchrotron emission, always located below 10^{17} Hz. We discuss these results in the framework of synchrotron self-Compton models. We found that for the BeppoSAX observation, the synchrotron peak frequency is between 10^{15} and 2.5x10^{16} Hz, depending on the model assumptions.