BEMAPACK
ActiveSummary
BEMAPACK has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €328,992 and a net result of €8,955. Equity is growing by ~10.2% per year across the filed fiscal years. Its solvency ranks better than 14% of 76 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability40▼-1
Solvency37=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €17,000 at 30 days acceptable
Liquidity short (current ratio 0.77 against 0.85 in 2024; short-term debt: 34.6% and cash: 0.3% of total assets), and 87.8% of the assets are financed with debt.
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Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 17
Relative position
BE, all sectors
reference
Manufacture of paper and paper products (NACE 17)
about 49% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
12.2%
Return on assets
0.3%
Age of the figures
9 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 14% of 76 sector peers (2025).
NBB · sector comparisonPosition among 76 sector peers
Solvency
better than 14%
← weakest
strongest →
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 04-08-2026, 4 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 · 10 filingsDeviation from the deadline
2025
4 d late
2024
35 d early
2023
22 d early
2022
7 d early
2021
90 d early
2020
31 d late
2019
31 d 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 13 days before the deadline; the sector median for financial year 2024 is 13 days before the deadline, and 34% of the sector filed late.
Checked, nothing found (2)
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. Usually files around 10 July (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€8,955▼ 54.6%
2024 · €19,715
Working capital
-€216,123▼ 84.5%
2024 · -€117,163
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 17, Manufacture of paper and paper products, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€178,717▲ 76.4%€147,995▼ 17.2%€145,800▼ 1.5%€135,862▼ 6.8%€109,755▼ 19.2%
Net result€116,954within the sector's middle half▲ 175%€47,636within the sector's middle half▼ 59.3%€18,598within the sector's middle half▼ 61.0%€19,715below the sector's middle half▲ 6.0%€8,955within the sector's middle half▼ 54.6%
Equity€234,088below the sector's middle half▲ 99.8%€281,724below the sector's middle half▲ 20.3%€300,322below the sector's middle half▲ 6.6%€320,037below the sector's middle half▲ 6.6%€328,992below the sector's middle half▲ 2.8%
Total assets€1.2mbelow the sector's middle half▼ 6.3%€3.1mbelow the sector's middle half▲ 164%€2.8mbelow the sector's middle half▼ 11.7%€2.7mbelow the sector's middle half▼ 4.2%€2.7mbelow the sector's middle half▲ 1.7%
Debt€953,958▼ 17.1%€2.9m▲ 200%€2.5m▼ 13.5%€2.3m▼ 5.5%€2.4m▲ 1.5%
Working capital€89,586within the sector's middle half-€19,587within the sector's middle half-€70,799below the sector's middle half▼ 261%-€117,163below the sector's middle half▼ 65.5%-€216,123below the sector's middle half▼ 84.5%
Solvency19.7%below the sector's middle half▲ 10.5pp9.0%below the sector's middle half▼ 10.7pp10.8%below the sector's middle half▲ 1.9pp12.0%below the sector's middle half▲ 1.2pp12.2%below the sector's middle half▲ 0.1pp
Current ratio1.13within the sector's middle half▲ 0.150.98within the sector's middle half▼ 0.150.91below the sector's middle half▼ 0.070.85below the sector's middle half▼ 0.050.77below the sector's middle half▼ 0.08
Return on assets (ROA)9.8%above the sector's middle half▲ 6.5pp1.5%within the sector's middle half▼ 8.3pp0.7%within the sector's middle half▼ 0.8pp0.7%below the sector's middle half▲ 0.1pp0.3%within the sector's middle half▼ 0.4pp
Staff (FTE)6below the sector's middle half▼ 4.8%4.4below the sector's middle half▼ 26.7%5below the sector's middle half▲ 13.6%7.4below the sector's middle half▲ 48.0%6.8below the sector's middle half▼ 8.1%
above
within
below
the middle half (P25 to P75) of NACE 17, Manufacture of paper and paper products, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result has fallen four years in a row; 2025 is 19% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.7m
Fixed assets
€1.9m ▼ 1.8%
Current assets
€718,635 ▲ 6.5%
Equity and liabilities €2.7m
Equity
€328,992 ▲ 2.8%
Debt
€2.4m ▲ 1.5%
Debt's share of the balance-sheet total falls from 88.0% to 87.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€250,813▼
2024 · €282,638
Cash flow
€150,014▼
2024 · €166,491
Quick ratio
0.39▲
2024 · 0.26
Debt to equity
7.21▼
2024 · 7.30
ROE
2.7%▼
2024 · 6.2%
Interest coverage
2.52▼
2024 · 2.58
Debt ≤ 1 year
€934,758▲
2024 · €791,658
Debt > 1 year
€1.4m▼
2024 · €1.5m
Income taxes
€1,547▼
2024 · €6,773
Staff costs
€320,589▲
2024 · €282,890
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 4,508 companies that looked in July 2024 the way this one looks now, 1.4% went bankrupt within 24 months and 97% are still going.
- Micro
- 10 to 20 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
1.4%
went bankrupt
1.6%
stopped otherwise
97%
still going
For this company itself Checked computes a bankruptcy probability of 0.5% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 4,508 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €1,887 | €3,987 | €1,014 | €0 | €5,339 | - |
| Remuneration, social security and pensions62 | €290,967 | €245,188 | €261,247 | €282,890 | €320,589 | ▲ 13.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €76,547 | €139,752 | €148,165 | €146,776 | €141,059 | ▼ 3.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €0 | - | - | - | - | - |
| Other operating charges640/8 | €1,473 | €1,490 | €1,710 | €1,721 | €21,140 | ▲ 1,129% |
| Non-recurring operating charges66A | €28,950 | - | €50,832 | €1,000 | €0 | ▼ 100% |
| Gross operating margin9900 | €576,653 | €534,424 | €607,753 | €568,248 | €592,543 | ▲ 4.3% |
| Operating profit (loss)9901 | €178,717 | €147,995 | €145,800 | €135,862 | €109,755 | ▼ 19.2% |
| Financial income75/76B | €617 | €406 | €249 | €79 | €215 | ▲ 172% |
| Recurring financial income75 | €617 | €406 | €249 | €79 | €215 | ▲ 172% |
| Financial charges65/66B | €59,829 | €94,213 | €119,696 | €109,452 | €99,468 | ▼ 9.1% |
| Recurring financial charges65 | €59,829 | €94,213 | €119,696 | €109,452 | €99,468 | ▼ 9.1% |
| Profit (loss) for the period before taxes9903 | €119,504 | €54,188 | €26,353 | €26,489 | €10,502 | ▼ 60.4% |
| Income taxes67/77 | €2,550 | €6,553 | €7,755 | €6,773 | €1,547 | ▼ 77.2% |
| Profit (loss) for the period9904 | €116,954 | €47,636 | €18,598 | €19,715 | €8,955 | ▼ 54.6% |
| Profit (loss) for the period to be appropriated9905 | €116,954 | €47,636 | €18,598 | €19,715 | €8,955 | ▼ 54.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.2m | €3.1m | €2.8m | €2.7m | €2.7m | ▲ 1.7% |
| Formation expenses20 | €54,462 | €38,000 | €21,538 | €5,076 | €40,981 | ▲ 707% |
| Fixed assets21/28 | €373,333 | €2.1m | €2.1m | €2.0m | €1.9m | ▼ 1.8% |
| Intangible fixed assets21 | €71,137 | €70,169 | €59,647 | €62,089 | €96,311 | ▲ 55.1% |
| Tangible fixed assets22/27 | €301,722 | €2.1m | €2.0m | €1.9m | €1.8m | ▼ 3.7% |
| Land and buildings22 | €3,621 | €60,323 | €68,606 | €64,293 | €54,744 | ▼ 14.9% |
| Plant, machinery and equipment23 | €294,118 | €261,710 | €256,990 | €229,519 | €218,340 | ▼ 4.9% |
| Furniture and vehicles24 | €1,513 | €2,751 | €1,521 | €1,854 | €8,739 | ▲ 371% |
| Leasing and similar rights25 | - | €1.7m | €1.6m | €1.6m | €1.5m | ▼ 3.5% |
| Other tangible fixed assets26 | €2,470 | €65,078 | €57,561 | €50,187 | €49,191 | ▼ 2.0% |
| Financial fixed assets28 | €474 | €474 | €124 | €124 | €124 | = |
| Current assets29/58 | €760,251 | €961,476 | €683,351 | €674,495 | €718,635 | ▲ 6.5% |
| Amounts receivable after more than one year29 | €51,323 | €44,973 | €21,012 | €14,668 | €9,868 | ▼ 32.7% |
| Other amounts receivable291 | €51,323 | €44,973 | €21,012 | €14,668 | €9,868 | ▼ 32.7% |
| Stocks and contracts in progress3 | €308,656 | €597,928 | €497,330 | €471,056 | €357,176 | ▼ 24.2% |
| Stocks30/36 | €308,656 | €597,928 | €497,330 | €471,056 | €357,176 | ▼ 24.2% |
| Amounts receivable within one year40/41 | €284,480 | €221,257 | €135,943 | €167,314 | €308,401 | ▲ 84.3% |
| Trade receivables40 | €272,819 | €200,088 | €132,687 | €162,508 | €303,579 | ▲ 86.8% |
| Other amounts receivable41 | €11,661 | €21,169 | €3,256 | €4,806 | €4,823 | ▲ 0.3% |
| Cash at bank and in hand54/58 | €107,665 | €90,933 | €22,304 | €2,230 | €8,135 | ▲ 265% |
| Deferred charges and accrued income490/1 | €8,126 | €6,385 | €6,762 | €19,226 | €35,054 | ▲ 82.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.2m | €3.1m | €2.8m | €2.7m | €2.7m | ▲ 1.7% |
| Equity10/15 | €234,088 | €281,724 | €300,322 | €320,037 | €328,992 | ▲ 2.8% |
| Contributions10/11 | €225,000 | €225,000 | €225,000 | €225,000 | €225,000 | = |
| Capital10 | €225,000 | €225,000 | €225,000 | €225,000 | €225,000 | = |
| Issued capital100 | €225,000 | €225,000 | €225,000 | €225,000 | €225,000 | = |
| Reserves13 | €454 | €3,155 | €4,100 | €5,086 | €5,086 | = |
| Non-distributable reserves130/1 | €454 | €3,155 | €4,100 | €5,086 | €5,086 | = |
| Legal reserve130 | €454 | €3,155 | €4,100 | €5,086 | €5,086 | = |
| Profit (loss) carried forward14 | €8,634 | €53,569 | €71,222 | €89,952 | €98,907 | ▲ 10.0% |
| Amounts payable17/49 | €953,958 | €2.9m | €2.5m | €2.3m | €2.4m | ▲ 1.5% |
| Amounts payable after more than one year17 | €281,972 | €1.9m | €1.7m | €1.5m | €1.4m | ▼ 7.0% |
| Financial debts170/4 | €281,972 | €1.9m | €1.7m | €1.5m | €1.4m | ▼ 7.0% |
| Amounts payable within one year42/48 | €670,664 | €981,063 | €754,151 | €791,658 | €934,758 | ▲ 18.1% |
| Current portion of amounts payable after more than one year42 | €113,972 | €201,049 | €205,815 | €181,387 | €157,047 | ▼ 13.4% |
| Financial debts43 | €209,882 | €142,212 | €190,770 | €158,176 | €233,307 | ▲ 47.5% |
| Credit institutions430/8 | €209,882 | €142,212 | €190,770 | €158,176 | €233,307 | ▲ 47.5% |
| Trade debts44 | €257,060 | €591,900 | €260,602 | €350,742 | €410,208 | ▲ 17.0% |
| Suppliers440/4 | €257,060 | €591,900 | €260,602 | €350,742 | €410,208 | ▲ 17.0% |
| Taxes, remuneration and social security45 | €89,487 | €45,640 | €75,796 | €80,026 | €113,059 | ▲ 41.3% |
| Taxes450/3 | €23,268 | €18,807 | €38,844 | €36,573 | €42,159 | ▲ 15.3% |
| Remuneration and social security454/9 | €66,220 | €26,833 | €36,953 | €43,454 | €70,900 | ▲ 63.2% |
| Other amounts payable47/48 | €263 | €263 | €21,167 | €21,328 | €21,137 | ▼ 0.9% |
| Accrued charges and deferred income492/3 | €1,322 | €1,583 | €6,581 | €2,187 | €1,823 | ▼ 16.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €116,954 | €47,636 | €18,598 | €19,715 | €8,955 | ▼ 54.6% |
| + Depreciation and write-downs630 | €76,547 | €139,752 | €148,165 | €146,776 | €141,059 | ▼ 3.9% |
| Operating cash flow (approximation) | €193,501 | €187,387 | €166,763 | €166,491 | €150,014 | ▼ 9.9% |
| Investment in fixed assets (approximation) | - | -€1.9m | -€76,864 | -€55,149 | -€105,199 | ▼ 90.8% |
| Change in cash | - | -€16,732 | -€68,630 | -€20,073 | €5,905 | ▲ 129% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
12-08
State Gazette act
Reappointments: Frédéric BEUVENS, Roger BEUVENS and 2 othersPower of attorney8 facts ▸
State Gazette act
Reappointments: Frédéric BEUVENS, Roger BEUVENS and 2 others
Power of attorney8 facts ▸
- General meeting, 30-06-2026
- Power of attorney, Jean-Michel COLLARD (mandataire)
- Power of attorney
- Director reappointment, Frédéric BEUVENS (director)
- Director reappointment, Roger BEUVENS (director)
- Director reappointment, SRL SHARE-PA (director)
- Director reappointment, SRL NOSHAQ PARTNERS (director)
- Director reappointment, Frédéric BEUVENS (managing director)
04-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 4 days late
2025
26-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
09-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
24-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
02-05
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Highest result since 2018net €116,954 ▲175%
Operating result €178,717, net result €116,954, both a record.
31-12
Financial
Equity above €200,000Eq €234,088 ▲99.8%
2 profitable years in a row build equity to €234,088.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 31 days late
2020
31-12
Financial
Back to profitnet €42,458
Net result €42,458 after one loss-making year.
31-12
Financial
Equity above €100,000Eq €117,134 ▲56.9%
Equity rises from €74,676 to €117,134.
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 31 days late
Show earlier events
2019
31-12
Financial
Weakest financial yearnet -€133,676
Net result drops to -€133,676, the lowest in the series; recovery starts the following year.
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 30 days late
2018
07-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 7 days late
2017
28-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 8 acts read
About the unread acts
Of the 8 Belgian State Gazette acts we know for this company, 1 has been read. The other 7 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
under verification, last change in 2026
This board is reconstructed from a single act (26103449). A Gazette act generally publishes only CHANGES, not a full roll call, so directors unchanged since then may be missing here. The KBO register holds the complete list of function holders.
Board 4
Frédéric BEUVENS
CurrentDirector · since 30-06-2026
NOSHAQ PARTNERS SRL
CurrentDirector · since 30-06-2026 · Legal entity · perm. rep.: Stéphane DUMOULIN
Roger BEUVENS
CurrentDirector · since 30-06-2026
SRL SHARE-PA
CurrentDirector · since 30-06-2026 · Legal entity · perm. rep.: Jean-Marc BRICTEUX
Day-to-day management 1
Frédéric BEUVENS
CurrentManaging director · since 30-06-2026
Permanent representatives 2
Jean-Marc BRICTEUX
CurrentPermanent representative · since 30-06-2026 · for SRL SHARE-PA
Stéphane DUMOULIN
CurrentPermanent representative · since 30-06-2026 · for NOSHAQ PARTNERS SRL
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
7 of this company's 8 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Thimister-Clermont · 1 establishment unit since 2009
Ground area
6,439 m²
Building footprint
2,513 m²
Volume, LiDAR
19,775 m³
Parcel 63077C0558/00E000, Wallonia · tallest building 9.3 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
BEMAPACK
since 20092.177.798.963
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 63077C0558/00E000 | Wallonia | 6,439 m² | 1 · 2,513 m² | 9.3 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Mandate history
4 people since 2026, 4 in office
- Board
- Day-to-day management
- began earlier
| Name | Functions and periods |
|---|---|
| Frédéric BEUVENS |
|
| NOSHAQ PARTNERS SRL |
|
| Roger BEUVENS |
|
| SRL SHARE-PA |
|
Structure & network
Owners and holdings
2 ownersOwners 2
-
30.33%
-
29.98%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
4 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
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Shareholding
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Recognitions · licences · registrations
Food safety, FASFC
1 siteThimister-Clermont2.177.798.963
Legal Entity Identifier
2549008O22XUZEYGG874
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Identification & contact
Identification
Legal formPublic limited company
Founded07-04-2009
Fiscal year end31-12
Activities, NACEBEL 2025
17120Manufacture of paper and paper products
17210Manufacture of paper and paper products
E-invoicing
Reachable via Peppol
Peppol ID
0208:0811063916
Also
9925:BE0811063916
Registered
12-02-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.