Result
€49,716 €49,716
Back in profit in 2025, after a loss of €6,846 in 2024.
INPACO INDUSTRIE
Lifetime
20 annual accounts with figures on one time axis, 26 filings since 2000Gross marginpeak €190,363 (2025)
€190,363▲ 91.2%
Resultlowest -€99,300 (2007)
€49,716▲ €56,562
Equitypeak €102,391 (2025)
€102,391▲ 94.4%
Debts
€138,316▼ 51.5%
Staffpeak 3 FTE (2009)
-not published
Board2 names since 2021
1 directorSZMAJ Julie
Documentsfilings and deeds
08-09-202639 days late
2025financial year
Gross margin from €99,571 to €190,363Back to profit: €49,716Resignation: RIZKALLAH Walid (director) 02-12Equity from €52,675 to €102,391Debts from €285,335 to €138,316Cash from €99,799 to €138,181
Key points
from the 2025 annual accountsTurnover
≈ €480,000 estimated
The accounts state no turnover.
Staff
3 employees on 31-12-2025
In 2025, 1 person joined and 0 left.
Liquidity
1.72 was 1.17 in 2024
Short-term debts fell from €285,335 to €138,316.
Filings
26 annual accounts since 2000
Eight of the last ten came late. The 2019 accounts came latest: 62 days after the end of the period.
Position in the sector
€102,391
Less equity than 92% of companies in paper. Sector median €3.7m · 95 companies.
Checked score
91
Excellent
Financially stronger than 77% 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: 0.6%
01-2025: 0.6%● unchanged vs 12-2024
02-2025: 0.6%● unchanged vs 01-2025
03-2025: 0.6%● unchanged vs 02-2025
04-2025: 0.6%● unchanged vs 03-2025
05-2025: 0.6%● unchanged vs 04-2025
06-2025: 0.6%● unchanged vs 05-2025
07-2025: 0.6%● unchanged vs 06-2025
08-2025: 0.8%▲ +0.2 percentage points vs 07-2025
09-2025: 0.6%▼ -0.2 percentage points vs 08-2025
10-2025: 0.6%● unchanged vs 09-2025
11-2025: 0.6%● unchanged vs 10-2025
12-2025: 0.6%● unchanged vs 11-2025
01-2026: 0.6%● unchanged vs 12-2025
02-2026: 0.6%● unchanged vs 01-2026
03-2026: 0.6%● unchanged vs 02-2026
04-2026: 0.6%● unchanged vs 03-2026
05-2026: 0.6%● unchanged vs 04-2026
06-2026: 0.6%● unchanged vs 05-2026
07-2026: 0.6%● unchanged vs 06-2026
08-2026: 0.9%▲ +0.3 percentage points vs 07-2026
09-2026: 1.0%▲ +0.1 percentage points vs 08-2026highest value
10-2026: 0.2%▼ -0.8 percentage points vs 09-2026lowest value
11-2026: 0.2%● unchanged vs 10-2026lowest value
Financial strengthStrong
Score breakdown
raises risk
Last filed accounts filed 39 days late; 2 of the last 3 accounts late
Sector: Manufacture of paper and paper products (NACE 17)
lowers risk
Liquidity: current ratio 1.72, cash €138,181
Founded in 1999
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 49% of them on solvency, 74% on liquidity, 90% on profitability and 94% on growth.
The bankruptcy probability was computed on 04-11-2026 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 INPACO INDUSTRIE 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 INPACO INDUSTRIE itself: 0.2% within 12 months.
Test of the method
The method was tested on the 497,446 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 INPACO INDUSTRIE. 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 €9,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 1.72 (1.17 in 2024), above the usual 1.5. Short-term debt is 57.5% and cash 57.4% of total assets. However, 57.5% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises risk
raises risk · 2025 accounts filed 39 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 08-09-2026, 39 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filingsDeviation from the deadline
2025
39 days late
2024
22 days late
2023
61 days late
2022
18 days early
2021
24 days late
2020
9 days late
2019
62 days late
← 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 28 days after 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 24 August (4 of the last 5 accounts filed within 38 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
05-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0466700553
Resignation: RIZKALLAH Walid (director)
Appointment: SZMAJ Julie (director) · General meeting of 10-09-2025 · Gazette deed
Appointments: SZMAJ Julie (managing director) and RIZKALLAH Walid (director)
General meeting of 19-12-2022 · Gazette deed
New establishment in Etterbeek
Sint-Pieterssteenweg 357
Comparable companies
same main activity, similar in size and age| Company | Total assets | Gross margin | Solvency | Staff |
|---|---|---|---|---|
| INPACO INDUSTRIE Etterbeek | €0.2m | €190,363 | 42.5% | - |
| EMBALLAGES GRUSELLE Fleurus | €0.4m | €121,586 | 37.1% | - |
| AFPLAKA Roeselare | €0.4m | €83,243 | 87.9% | - |
| CARTOPACK Eeklo | €1.5m | €116,972 | 75.7% | - |
| FOROPRINT Anzegem | €1.2m | €852,429 | 49.0% | 3 |
| USINES PELLETIER EN CO Molenbeek-Saint-Jean | €0.7m | €578,996 | 34.5% | 8.8 |
| ROTACOL Andenne | €1.3m | €634,585 | 69.3% | 7.1 |
These companies have the same main activity as INPACO INDUSTRIE: manufacture of paper and paper products (NACE 17120). They are comparable in size and age: total assets between €421,000 and €1.5m, founded between 1985 and 2007.
Official details
Source: KBO- Status
- Active since 17-08-1999Normal situation
- Activity
- Manufacture of paper and paper productsNACE 17120and 2 others
- Establishment units
- 2.093.013.0455030 Gembloux, since 06-12-1999
- 2.093.012.9461040 Etterbeek, since 09-12-1999
- Financial year end
- 31 December
- Peppol
- Reachable since 08-12-2025
Annual accounts 2025
- Total assets
- €240,707▼ 28.8%
- Employeeson 31-12-2025
- 3▲ 50.0%
- Filing
- Filed on 08-09-2026
Insights on INPACO INDUSTRIE
INPACO INDUSTRIE has existed since 1999. The gross margin grew from €90,917 in 2006 to €190,363 in 2025.
Solvency rose in 2025 from 15.6% to 42.5% because of the retained profit and lower debts.
In January 2023, the Official Gazette published the appointment of SZMAJ Julie as managing director.
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 INPACO INDUSTRIE
- What is the company number of INPACO INDUSTRIE?
- The company number of INPACO INDUSTRIE is 0466.700.553. The VAT number is the same number with BE in front: BE 0466.700.553.
- Where is INPACO INDUSTRIE based?
- The registered office is at Sint-Pieterssteenweg 357, 1040 Etterbeek.Company details
- What does INPACO INDUSTRIE do?
- According to the KBO register, the main activity is manufacture of paper and paper products (NACE 17120).
- What is the legal form of INPACO INDUSTRIE?
- INPACO INDUSTRIE is a public limited company (NV).
- When was INPACO INDUSTRIE founded?
- INPACO INDUSTRIE was founded on 17-08-1999.
- Is INPACO INDUSTRIE still active?
- Yes, INPACO INDUSTRIE is an active enterprise in the KBO register.
- How many employees does INPACO INDUSTRIE have?
- INPACO INDUSTRIE had an average of 3 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- What is the turnover of INPACO INDUSTRIE?
- The turnover in financial year 2025 is ≈ €480,000. This figure is estimated from the gross margin of €190,363 and 1,647 comparable companies of the same size. It probably lies between €300,000 and €910,000. It is a rough estimate.
- Is INPACO INDUSTRIE profitable?
- In financial year 2025, INPACO INDUSTRIE made a profit of €49,716.
- Where can I find the annual accounts of INPACO INDUSTRIE?
- INPACO INDUSTRIE filed 26 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of INPACO INDUSTRIE due?
- INPACO INDUSTRIE must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
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