ERPAK SAN
ActiveSummary
ERPAK SAN has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.39M and a net result of €78k. Equity is growing by ~16.1% per year across the filed fiscal years. Its solvency ranks better than 21% of 4867 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
55
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability44▼-8
Solvency45▼-10
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €130k at 30 days acceptable
Liquidity short (current ratio 0.91 against 1.22 in 2024; short-term debt: 52.9% and cash: 0.3% of total assets), and 80.5% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
19.5%
Return on assets
0.6%
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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Sector 46
higher
← fewer bankruptcies
more bankruptcies →
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 21% of 4867 sector peers (2025).
NBB · sector comparisonPosition among 4867 sector peers
Solvency
better than 21%
← weakest
strongest →
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 29-07-2026, 2 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
2 d early
2024
22 d late
2023
28 d late
2022
31 d late
2021
31 d late
2020
34 d late
2019
31 d late
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€9.47M
EBIT margin
3.0%
Net result
€78k▼ 59.0%
2024 · €191k
2018: €51k
2019: €138k
2020: €286k
2021: €65k
2022: €675k
2023: €83k
2024: €191k
2018 → 2025
Working capital
€-587k
2024 · €861k
2018: €245k
2019: €283k
2020: €406k
2021: €83k
2022: €887k
2023: €370k
2024: €861k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€9.47M
Equity€1.36M-€2.04M▲ 49.5%€2.12M▲ 4.1%€2.31M▲ 9.0%€2.39M▲ 3.4%
Operating result€193k-€1,000k▲ 419%€243k▼ 75.7%€355k▲ 46.3%€280k▼ 21.2%
Net result€65k-€675k▲ 937%€83k▼ 87.7%€191k▲ 131%€78k▼ 59.0%
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 21% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €12.24M
Fixed assets
€6.35M ▲ 115%
Current assets
€5.89M ▲ 24.8%
Equity and liabilities €12.24M
Equity
€2.39M ▲ 3.4%
Provisions
€116k ▼ 9.6%
Debt
€9.73M ▲ 86.0%
Debt's share of the balance-sheet total rises from 68.2% to 79.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€589k▼
2024 · €635k
Cash flow
€388k▼
2024 · €471k
Current ratio
0.91▼
2024 · 1.22
Quick ratio
0.64▼
2024 · 0.76
Debt to equity
4.07▲
2024 · 2.26
ROE
3.3%▼
2024 · 8.3%
ROA
0.6%▼
2024 · 2.5%
Interest coverage
2.85▼
2024 · 3.61
Debt ≤ 1 year
€6.48M▲
2024 · €3.86M
Debt > 1 year
€3.25M▲
2024 · €1.37M
Income taxes
€36k▲
2024 · €20k
Staff costs
€611k▲
2024 · €539k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 69 lines
Balance sheet
Code20242025
Assets
Total assets20/58€7.67M€12.24M▲
Fixed assets21/28€2.95M€6.35M▲
Tangible fixed assets22/27€2.95M€6.35M▲
Land and buildings22€915k€4.97M▲
Plant, machinery and equipment23€1.42M€1.36M▼
Furniture and vehicles24€36k€16k▼
Other tangible fixed assets26€31k€0▼
Assets under construction and advance payments27€552k€0▼
Current assets29/58€4.72M€5.89M▲
Stocks and contracts in progress3€1.80M€1.75M▼
Stocks30/36€1.80M€1.75M▼
Amounts receivable within one year40/41€2.87M€4.07M▲
Trade receivables40€2.87M€4.07M▲
Cash at bank and in hand54/58€13k€41k▲
Deferred charges and accrued income490/1€33k€35k▲
Equity and liabilities
Total equity and liabilities10/49€7.67M€12.24M▲
Equity10/15€2.31M€2.39M▲
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Reserves13€391k€354k▼
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Tax-exempt reserves132€385k€348k▼
Profit (loss) carried forward14€1.86M€1.97M▲
Provisions and deferred taxes16€128k€116k▼
Deferred taxes168€128k€116k▼
Amounts payable17/49€5.23M€9.73M▲
Amounts payable after more than one year17€1.37M€3.25M▲
Financial debts170/4€1.37M€3.25M▲
Amounts payable within one year42/48€3.86M€6.48M▲
Current portion of amounts payable after more than one year42€498k€569k▲
Financial debts43€1.52M€2.76M▲
Credit institutions430/8€1.52M€2.76M▲
Trade debts44€1.50M€2.83M▲
Suppliers440/4€1.50M€2.83M▲
Advances received on contracts in progress46€133k€150k▲
Taxes, remuneration and social security45€115k€84k▼
Taxes450/3€68k€30k▼
Remuneration and social security454/9€46k€54k▲
Other amounts payable47/48€92k€85k▼
Accrued charges and deferred income492/3€5k€4k▼
Income statement
Code20242025
Turnover70-€9.47M
Non-recurring operating income76A€194k€15k▼
Goods, raw materials, services and sundry goods60/61-€8.19M
Remuneration, social security and pensions62€539k€611k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€280k€309k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€0-
Other operating charges640/8€82k€154k▲
Non-recurring operating charges66A€53k€0▼
Gross operating margin9900€1.31M€1.35M▲
Operating profit (loss)9901€355k€280k▼
Financial income75/76B€2k€29k▲
Recurring financial income75€2k€29k▲
Non-recurring financial income76B€0-
Financial charges65/66B€176k€206k▲
Recurring financial charges65€176k€206k▲
Profit (loss) for the period before taxes9903€181k€102k▼
Transfer from deferred taxes780€30k€12k▼
Income taxes67/77€20k€36k▲
Profit (loss) for the period9904€191k€78k▼
Transfer from tax-exempt reserves789€90k€37k▼
Profit (loss) for the period to be appropriated9905€281k€115k▼
Appropriation of the result
Profit (loss) to be appropriated9906€1.86M€1.97M▲
Profit (loss) brought forward from the previous period14P€1.58M€1.86M▲
Transfer to equity691/2€0-
To contributions691€0-
To the legal reserve6920€0-
Social balance
Average headcount (FTE)908712.312.7▲
The notes to these accounts (22 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
29-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
22-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 22 days late
2024
28-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 28 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 31 days late
2022
31-12
Financial
Highest result since 2018net €675k ▲937%
Operating result €1,000k, net result €675k, both a record.
31-12
Financial
Equity above €2MEq €2.04M ▲49.5%
5 profitable years in a row build equity to €2.04M.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 31 days late
2021
03-09
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 34 days late
2020
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 31 days late
2019
31-12
Financial
Equity above €1MEq €1.01M ▲15.8%
2 profitable years in a row build equity to €1.01M.
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 28 days late
2018
28-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 28 days late
2017
07-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 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, Bornem · 1 establishment unit since 2005
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.
Woestijnstraat(BOR) 572880 BornemGround area
2.7 ha
Building footprint
1.6 ha
Parcel 12007C0455/00H000, Flanders. Linked by address, not a title deed.
1 establishment unit
ERPAKSAN
since 20052.144.364.944
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12007C0455/00H000 | Flanders | 2.7 ha | 1 · 1.6 ha | - |
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.
Public money · subsidies and aid
Flemish government
2023 · 2 entries · 3,056 EUR awarded · 3,056 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 2 | 3,056 EUR | 3,056 EUR |
Schemes
Vlaams opleidingsverlof (VOV)
Stagebonus (stopgezet)
Recognitions · licences · registrations
Food safety, FASFC
1 siteBornem2.144.364.944
Dual-learning approval
3 live approvals · 1 endedCommercieel assistent (vwo)
Commercieel assistent duaal (so)
Commerciële organisatie duaal (so)
Show 1 ended approval
Administratief medewerker (so)
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Of 2,506 companies in sector 46649 we hold annual accounts for 1,759. 1,169 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded10-12-2004
Fiscal year end31-12
Activities, NACEBEL 2025
17210Manufacture of paper and paper products
46649Wholesale of other machinery and equipment
68203Renting and operating of own or leased non-residential real estate, excluding land
Sources
Crossroads Bank for EnterprisesNational Bank · 19 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.