Equity
€140,000 ▲ 16.7%
BOXMAKER paid out €43,809 in dividends. That is 69% of the 2025 profit.
BOXMAKER
Lifetime
19 annual accounts with figures on one time axis, 26 filings since 1999peak €253,501 (2025)
€253,501▲ 2.5%
lowest -€44,991 (2011)
€63,809▲ 34.2%
peak €160,124 (2023)
€140,000▲ 16.7%
€291,275▲ 35.6%
peak 2.4 FTE (2016)
2 FTEunchanged
Board7 names since 2021
1 directorGWS Consulting BV
Owners
100%GWS Consulting
Documentsfilings and deeds
20-02-2026161 days before the deadline
2025abbreviated format
Result from €47,562 to €63,809Dividend €43,809Equity from €120,000 to €140,000Debts from €214,818 to €291,275
Key points
from the 2025 annual accountsChecked score
90
Excellent
Financially stronger than 66% of micro companies in paper (NACE 17)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.4% across 113 companies (NACE 17, micro).
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.1%lowest value
01-2025: 0.1%● unchanged vs 12-2024lowest value
02-2025: 0.1%● unchanged vs 01-2025lowest value
03-2025: 0.1%● unchanged vs 02-2025lowest value
04-2025: 0.2%▲ +0.1 percentage points vs 03-2025
05-2025: 0.2%● unchanged vs 04-2025
06-2025: 0.2%● unchanged vs 05-2025
07-2025: 0.2%● unchanged vs 06-2025
08-2025: 0.2%● unchanged vs 07-2025
09-2025: 0.2%● unchanged vs 08-2025
10-2025: 0.2%● unchanged vs 09-2025
11-2025: 0.2%● unchanged vs 10-2025
12-2025: 0.2%● unchanged vs 11-2025
01-2026: 0.2%● unchanged vs 12-2025
02-2026: 0.2%● unchanged vs 01-2026
03-2026: 0.2%● unchanged vs 02-2026highest value
04-2026: 0.2%● unchanged vs 03-2026highest value
05-2026: 0.2%● unchanged vs 04-2026highest value
06-2026: 0.2%● unchanged vs 05-2026highest value
07-2026: 0.2%● unchanged vs 06-2026highest value
08-2026: 0.2%● unchanged vs 07-2026highest value
09-2026: 0.2%● unchanged vs 08-2026highest value
10-2026: 0.2%● unchanged vs 09-2026highest value
11-2026: 0.2%● unchanged vs 10-2026highest value
Financial strengthStrong
Score breakdown
raises risk
Sector: Manufacture of paper and paper products (NACE 17)
Size: 2 FTE, total assets €431,275
lowers risk
Liquidity: current ratio 1.47, cash €165,211
Founded in 1998
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 17, micro). It does better than 39% of them on solvency, 68% on liquidity, 82% on profitability and 75% on growth.
The bankruptcy probability was computed on 05-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 31,368 companies had the same profile as BOXMAKER has now. Each dot stands for 79 companies, two years later.
93.5%
were still trading
5.9%
stopped another way
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of BOXMAKER itself: 0.2% within 12 months.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 31,368 companies, not a prediction for BOXMAKER. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €12,000 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.47 (1.53 in 2024), below the usual 1.5. Short-term debt is 67.5% and cash 38.3% of total assets. 67.5% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 20-02-2026, 161 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
161 days early
2024
128 days early
2023
153 days early
2022
168 days early
2021
89 days early
2020
100 days early
2019
113 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 130 days before the deadline. In the sector (NACE 17), the median for financial year 2024 was 13 days before the deadline, and 35% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 1 March (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
06-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- GWS Consulting 100%score 96equity €275,000 (2025) · 30-09-2025 annual accounts of GWS Consulting
Recent changes
Appointments: BV FETTWEIS (director) and CommV ADN AND PARTNERS (director)
General meeting of 15-06-2026 · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0464915159
Amendment of the articles · Legal-form change · Resignations & appointments
Resignations: SCHOONJANS Lore Paule Peter, SCHOONJANS Paul Robert Frans and VANHOUTTE Martine Marie Madeleine · Appointment: BV GWS Consulting (director) · Permanent representative: Steven Inghels · General meeting of 12-07-2022 · Gazette deed
1 director appointed, 1 resignation
Resignation: Lore Schoonjans · Appointment: GWS Consulting · Permanent representative: Steven Inghels · General meeting of 15-06-2022 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| BOXMAKER Tielt-Winge | €0.4m | €253,501 | 32.5% | 2 |
| USINES PELLETIER EN CO Molenbeek-Saint-Jean | €0.7m | €578,996 | 34.5% | 8.8 |
| LE TYPOGRAPHE Ixelles | €0.4m | €303,932 | 83.1% | - |
| ROUVERPA Ypres | €0.7m | €46,447 | 58.6% | - |
| ELEP Lommel | €3.7m | €465,051 | 36.4% | 4.5 |
| DUROVAN Gerpinnes | €0.08m | €52,840 | 54.1% | - |
| I-Simplify Aalter | €0.4m | €139,233 | 62.9% | - |
These companies have the same main activity as BOXMAKER: manufacture of paper and paper products (NACE 17230). They are comparable in size and age: total assets between €80,800 and €3.7m, founded between 1963 and 2017.
Official details
Source: KBO- Status
- Active since 18-12-1998Normal situation
- Activity
- Manufacture of paper and paper productsNACE 17230and 5 others
- Joint committees
- 136Paper and cardboard processing
- 222White-collar workers in paper and cardboard processing · annual accounts 2023
- Establishment unit
- 2.089.746.2243390 Tielt-Winge, since 22-12-1998
- Financial year end
- 31 December
- Peppol
- Reachable since 14-11-2025
Annual accounts 2025
- ≈ €600,000estimated
- €431,275▲ 28.8%
- Employeeson 31-12-2025
- 2=
- Filing
- Filed on 20-02-2026, 161 days before the end of the filing period
Insights on BOXMAKER
BOXMAKER files the abbreviated format. That format states no turnover. The gross margin rose from €100,362 in 2007 to €253,501 in 2025.
GWS Consulting holds all the shares. In July 2022, three directors stepped down.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about BOXMAKER
- What is the company number of BOXMAKER?
- The company number of BOXMAKER is 0464.915.159. The VAT number is the same number with BE in front: BE 0464.915.159.
- Where is BOXMAKER based?
- The registered office is at Leuvensesteenweg 196, 3390 Tielt-Winge.Company details
- What does BOXMAKER do?
- According to the KBO register, the main activity is manufacture of paper and paper products (NACE 17230).
- What is the legal form of BOXMAKER?
- BOXMAKER is a private limited company (BV).
- When was BOXMAKER founded?
- BOXMAKER was founded on 18-12-1998.
- Is BOXMAKER still active?
- Yes, BOXMAKER is an active enterprise in the KBO register.
- How many employees does BOXMAKER have?
- BOXMAKER had an average of 2 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does BOXMAKER fall under?
- In its 2023 annual accounts, BOXMAKER states joint committees 136 (Paper and cardboard processing) and 222 (White-collar workers in paper and cardboard processing).
- What is the turnover of BOXMAKER?
- The turnover in financial year 2025 is ≈ €600,000. This figure is estimated from the gross margin of €253,501 and 2,281 comparable companies of the same size. It probably lies between €360,000 and €1.0m. It is a rough estimate.
- Is BOXMAKER profitable?
- In financial year 2025, BOXMAKER made a profit of €63,809.
- Where can I find the annual accounts of BOXMAKER?
- BOXMAKER filed 26 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of BOXMAKER due?
- BOXMAKER must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
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