Result
Back in profit in 2025, after a loss of €338,550 in 2024.
Back in profit in 2025, after a loss of €338,550 in 2024.
The accounts state no turnover.
Of this, €3.3m falls due within a year.
Green is investment, beige is depreciation.
In 2025, 11 people joined and 9 left.
The 2016 accounts came latest: 31 days after the end of the period.
The dashed line is the sector median: 0.2% across 59 companies (NACE 17, small).
About 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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, small). It does better than 23% of them on solvency, 32% on liquidity, 75% on profitability and 92% 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).
In July 2024, 2,609 companies had the same profile as packaging4professionals has now. Each dot stands for 7 companies, two years later.
That fits the bankruptcy probability of packaging4professionals itself: 0.1% within 12 months.
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 2,609 companies, not a prediction for packaging4professionals. 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.
Liquidity is ample, with a current ratio of 1.61 (1.34 in 2024), above the usual 1.5. Short-term debt is 53% and cash 13.7% of total assets. However, 70.8% of the assets are financed with debt and provisions.
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.
The company filed its last 7 accounts on average 32 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.
| Company | Total assets | Gross margin | Solvency | Staff |
|---|---|---|---|---|
| packaging4professionals Charleroi | €6.2m | €2.0m | 29.2% | 22.4 |
| CARTONNERIES DE WALLONIE Courcelles | €3.9m | €2.5m | 80.3% | 25.6 |
| Dekaplast Belgium Turnhout | €0.9m | €1.3m | -6.1% | 17 |
| BEMAPACK Thimister-Clermont | €2.7m | €0.6m | 12.2% | 6.8 |
| Premium Cellulose Insulation Manufacturer Ciney | €1.3m | - | 24.8% | 8 |
| EconCore Leuven | €3.4m | €1.3m | 75.5% | 2.8 |
| ATINVEST Dilbeek | €1.4m | €0.4m | 69.6% | - |
These companies have the same main activity as packaging4professionals: manufacture of paper and paper products (NACE 17120). They are comparable in size and age: total assets between €903,000 and €3.9m, founded between 2005 and 2019.
packaging4professionals has existed since 2015. The present size dates from 2017. The gross margin rose that year from €40,538 to €1.2m and staff from 10 to 14.2 full-time equivalents.
In July 2024, three directors stepped down.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
The turnover shown is an estimate from the gross margin.
Turnover ≈ €3.5m. Estimated: probably between €2.4m and €5.8m.
Higher than 26% of 95 companies in 2025.
Higher than 50% of 94 companies in 2025.
Higher than 73% of 95 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: middle half · Working capital: middle half · Staff: middle half
Staff costs divided by the average number of full-time equivalents.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||
Total assets20/58 |
6.2m | 4.6m | 4.8m | 5.2m | 5.4m | 4.6m | 6.0m | 6.6m | 4.8m | 4.8m | |
Formation expenses20 |
- | - | - | 0 | 493 | 2,490 | 17,148 | 48,336 | 79,524 | 100,233 | |
Fixed assets21/28 |
892,297 | 598,124 | 773,177 | 1.2m | 1.7m | 2.1m | 2.5m | 3.0m | 2.9m | 3.3m | |
Intangible fixed assets21 |
96 | 513 | 23,045 | 84,996 | 187,103 | 217,002 | 248,866 | 269,225 | 164,645 | 133,973 | |
Tangible fixed assets22/27 |
891,101 | 596,511 | 749,032 | 1.2m | 1.5m | 1.9m | 2.3m | 2.7m | 2.8m | 3.2m | |
Plant, machinery and equipment23 |
385,993 | 566,561 | 670,466 | 1.0m | 234,635 | 253,066 | 292,000 | 331,605 | 14,769 | 20,234 | |
Furniture and vehicles24 |
29,297 | 28,881 | 12,746 | 24,393 | 26,052 | 33,657 | 7,001 | 8,269 | 20,902 | 38,405 | |
Leasing and similar rights25 |
0 | 1,068 | 62,164 | 109,503 | 1.3m | - | - | - | - | - | |
Other tangible fixed assets26 |
213,311 | 0 | 3,655 | 4,717 | 6,648 | 15,809 | 28,387 | 39,698 | 48,626 | 60,854 | |
Assets under construction and advance payments27 |
262,500 | - | - | - | - | - | - | - | - | - | |
Financial fixed assets28 |
1,100 | 1,100 | 1,100 | 1,100 | 1,100 | 2,100 | 2,100 | 2,100 | 100 | 100 | |
Current assets29/58 |
5.3m | 4.0m | 4.0m | 4.0m | 3.6m | 2.5m | 3.4m | 3.6m | 1.7m | 1.3m | |
Stocks and contracts in progress3 |
3.2m | 2.9m | 2.6m | 2.3m | 1.6m | 1.3m | 1.1m | 873,007 | 543,384 | 322,221 | |
Stocks30/36 |
2.3m | 1.9m | 1.8m | 1.9m | 1.2m | 1.1m | 840,464 | 659,404 | 303,041 | 255,830 | |
Contracts in progress37 |
964,386 | 983,715 | 801,425 | 437,609 | 423,733 | 218,963 | 271,416 | 213,603 | 240,343 | 66,391 | |
Amounts receivable within one year40/41 |
1.2m | 1.1m | 1.1m | 1.1m | 1.2m | 655,804 | 2.0m | 2.4m | 918,759 | 869,766 | |
Trade receivables40 |
1.1m | 756,993 | 863,838 | 805,470 | 867,612 | 604,195 | 1.5m | 1.9m | 279,362 | 224,027 | |
Other amounts receivable41 |
63,357 | 303,141 | 254,019 | 313,789 | 323,110 | 51,609 | 493,017 | 440,469 | 639,397 | 645,739 | |
Cash at bank and in hand54/58 |
849,070 | 90,543 | 169,183 | 407,757 | 511,441 | 194,315 | 53,496 | 88,662 | 45,038 | 7,584 | |
Deferred charges and accrued income490/1 |
54,275 | 30,035 | 90,387 | 130,243 | 309,642 | 303,506 | 324,950 | 288,357 | 242,213 | 135,005 | |
| Balance sheet: equity and liabilities | |||||||||||
Total equity and liabilities10/49 |
6.2m | 4.6m | 4.8m | 5.2m | 5.4m | 4.6m | 6.0m | 6.6m | 4.8m | 4.8m | |
Equity10/15 |
1.8m | 1.3m | 1.7m | 1.6m | 1.2m | 727,631 | 604,911 | 229,693 | 190,766 | -226,239 | |
Contributions10/11 |
1.4m | 1.4m | 1.4m | 1.4m | 1.4m | 1.4m | 1.4m | 1.1m | 1.1m | 575,000 | |
Capital10 |
1.4m | 1.4m | 1.4m | 1.4m | 1.4m | - | - | - | - | - | |
Issued capital100 |
1.4m | 1.4m | 1.4m | 1.4m | 1.4m | 1.4m | 1.4m | 1.1m | 1.1m | 575,000 | |
Reserves13 |
35,500 | 13,900 | 13,900 | 3,000 | - | - | - | - | - | - | |
Non-distributable reserves130/1 |
35,500 | 13,900 | 13,900 | 3,000 | - | - | - | - | - | - | |
Legal reserve130 |
35,500 | 13,900 | 13,900 | 3,000 | - | - | - | - | - | - | |
Profit (loss) carried forward14 |
409,999 | -79,089 | 259,461 | 52,669 | -396,641 | -918,391 | -1.1m | -1.3m | -1.4m | -1.3m | |
Investment grants15 |
0 | 36,273 | 98,454 | 160,635 | 222,816 | 284,997 | 347,178 | 389,726 | 448,926 | 494,397 | |
Amounts payable17/49 |
4.4m | 3.3m | 3.0m | 3.6m | 4.2m | 3.9m | 5.4m | 6.4m | 4.6m | 5.0m | |
Amounts payable after more than one year17 |
1.1m | 296,763 | 84,594 | 325,809 | 622,630 | 1.3m | 943,258 | 1.6m | 1.9m | 2.9m | |
Financial debts170/4 |
1.1m | 296,763 | 84,594 | 325,809 | 622,630 | 1.3m | 943,258 | 1.6m | 1.9m | 2.9m | |
Amounts payable within one year42/48 |
3.3m | 3.0m | 3.0m | 3.3m | 3.6m | 2.6m | 4.4m | 4.7m | 2.6m | 2.1m | |
Current portion of amounts payable after more than one year42 |
195,227 | 149,788 | 249,409 | 337,215 | 700,535 | 779,227 | 753,396 | 661,038 | 663,042 | 439,555 | |
Financial debts43 |
1.0m | 966,490 | 1.1m | 856,032 | 972,912 | 833,191 | 2.3m | 2.2m | 920,244 | 575,000 | |
Credit institutions430/8 |
1.0m | 966,490 | 1.1m | 856,032 | 972,912 | 833,191 | 2.3m | 2.2m | 920,244 | 575,000 | |
Trade debts44 |
1.9m | 1.7m | 1.4m | 2.0m | 1.7m | 869,036 | 1.3m | 1.7m | 896,732 | 964,185 | |
Suppliers440/4 |
1.9m | 1.7m | 1.4m | 2.0m | 1.7m | 869,036 | 1.3m | 1.7m | 896,732 | 964,185 | |
Taxes, remuneration and social security45 |
154,060 | 104,480 | 105,969 | 128,092 | 119,256 | 92,745 | 71,435 | 129,599 | 127,068 | 71,653 | |
Taxes450/3 |
45,902 | 3,650 | 6,318 | 26,366 | 22,617 | 20,881 | 4,583 | 12,314 | 8,738 | 14,060 | |
Remuneration and social security454/9 |
108,158 | 100,830 | 99,652 | 101,726 | 96,639 | 71,865 | 66,852 | 117,285 | 118,330 | 57,594 | |
Other amounts payable47/48 |
24,810 | 40,995 | 19,899 | 19,365 | 19,890 | 18,522 | 18,214 | 19,082 | 18,371 | 14,390 | |
Accrued charges and deferred income492/3 |
- | - | 0 | 13,282 | 539 | 3,065 | 17,218 | 26,152 | 8,213 | 30,283 | |
| Income statement | |||||||||||
Non-recurring operating income76A |
- | 0 | 520 | 5,651 | 27,367 | 44,104 | 14,080 | - | - | - | |
Gross operating margin9900 |
2.0m | 1.4m | 1.9m | 2.0m | 2.1m | 1.7m | 1.8m | 1.7m | 1.2m | 40,538 | |
Remuneration, social security and pensions62 |
1.1m | 982,426 | 987,251 | 959,081 | 853,137 | 731,046 | 809,539 | 946,833 | 631,647 | 618,565 | |
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 |
291,106 | 452,137 | 476,588 | 515,025 | 556,302 | 587,276 | 599,807 | 555,396 | 495,858 | 658,263 | |
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 |
- | 0 | 5,932 | 0 | 42,758 | 0 | 8,197 | 2,150 | 28,566 | - | |
Other operating charges640/8 |
3,921 | 2,490 | 3,421 | 3,248 | 2,308 | 3,475 | 11,449 | 6,480 | 4,536 | 5,168 | |
Non-recurring operating charges66A |
3,432 | 214,745 | 29,525 | 62,277 | 61,639 | 127,047 | 104,225 | 99 | - | 12,225 | |
Operating profit (loss)9901 |
663,379 | -278,832 | 354,233 | 500,293 | 573,172 | 242,152 | 257,723 | 187,558 | 10,762 | -1.3m | |
Financial income75/76B |
57,964 | 62,415 | 62,424 | 64,455 | 62,297 | 62,575 | 73,082 | 59,600 | 61,990 | 82,228 | |
Recurring financial income75 |
37,568 | 62,183 | 62,424 | 64,455 | 62,297 | 62,575 | 73,082 | 59,600 | 61,990 | 82,228 | |
Non-recurring financial income76B |
20,397 | 232 | - | - | - | - | - | - | - | - | |
Financial charges65/66B |
122,074 | 119,585 | 128,979 | 110,964 | 110,942 | 112,281 | 160,754 | 146,857 | 145,012 | 123,550 | |
Recurring financial charges65 |
122,074 | 119,585 | 128,979 | 110,964 | 110,942 | 112,281 | 160,754 | 146,857 | 145,012 | 123,550 | |
Profit (loss) for the period before taxes9903 |
599,268 | -336,002 | 287,678 | 453,785 | 524,527 | 192,446 | 170,051 | 100,301 | -72,260 | -1.3m | |
Income taxes67/77 |
88,580 | 2,548 | 69,986 | 1,475 | 2,777 | 7,546 | 2,409 | 2,174 | 1,163 | 631 | |
Profit (loss) for the period9904 |
510,688 | -338,550 | 217,692 | 452,310 | 521,751 | 184,901 | 167,642 | 98,127 | -73,424 | -1.3m | |
Profit (loss) for the period to be appropriated9905 |
510,688 | -338,550 | 217,692 | 452,310 | 521,751 | 184,901 | 167,642 | 98,127 | -73,424 | -1.3m | |
| Appropriation of the result | |||||||||||
Profit (loss) to be appropriated9906 |
431,599 | -79,089 | 270,361 | 55,669 | -396,641 | -918,391 | -1.1m | -1.3m | -1.4m | -1.3m | |
Profit (loss) brought forward from the previous period14P |
-79,089 | 259,461 | 52,669 | -396,641 | -918,391 | - | - | - | - | - | |
Transfer to equity691/2 |
21,600 | 0 | 10,900 | 3,000 | - | - | - | - | - | - | |
To the legal reserve6920 |
21,600 | 0 | 10,900 | 3,000 | - | - | - | - | - | - | |
| Social balance sheet | |||||||||||
Average staff (FTE)9087 |
22.4 | 20.6 | 21.3 | 21.5 | 20.1 | 17 | 18.7 | 21.5 | 14.2 | 10 | |
Hours worked1013 |
32,705 | 30,263 | 30,544 | 32,627 | 31,344 | 26,891 | 29,850 | 33,853 | 23,184 | 21,943 | |
| Document | |||||||||||
The notes to these accounts have 26 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 26-06-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 26-06-2026 | 2026-00229777 | |
| 31-12-2024 | full format | 31-07-2025 | 2025-00356779 | |
| 31-12-2023 | full format | 25-07-2024 | 2024-00280535 | |
| 31-12-2022 | full format | 05-07-2023 | 2023-00210057 | |
| 31-12-2021 | full format | 18-05-2022 | 2022-20030028 | |
| 31-12-2020 | full format | 08-06-2021 | 2021-18300230 | |
| 31-12-2019 | full format | 30-06-2020 | 2020-24000185 | |
| 31-12-2018 | full format | 27-08-2019 | 2019-52800429 | |
| 31-12-2017 | full format | 02-07-2018 | 2018-25600089 | |
| 31-12-2016 | full format | 31-08-2017 | 2017-55900461 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EBITDA | 954,485 | 173,305 | 830,821 | 1.0m | 1.1m | 829,428 | 857,530 | 742,954 | 506,620 | -595,419 | |
| Cash flow | 801,794 | 113,587 | 694,279 | 967,334 | 1.1m | 772,176 | 767,449 | 653,523 | 422,434 | -637,373 | |
| Investment in fixed assets | 585,280 | 293,853 | 1,645 | 46,408 | 131,775 | 172,723 | 142,723 | 559,449 | 89,787 | 3.9m | |
| Change in cash | 758,527 | -78,640 | -238,574 | -103,684 | 317,126 | 140,818 | -35,166 | 43,624 | 37,454 | - | |
| Working capital | 2.0m | 1.0m | 1.0m | 668,300 | 93,450 | -120,858 | -993,492 | -1.1m | -876,062 | -730,207 | |
| Solvency | 29.2% | 28.7% | 36.3% | 30.3% | 22.1% | 15.8% | 10.1% | 3.5% | 4.0% | -4.8% | |
| Current ratio | 1.61 | 1.34 | 1.35 | 1.20 | 1.03 | 0.95 | 0.78 | 0.76 | 0.67 | 0.65 | |
| Quick ratio | 0.63 | 0.39 | 0.47 | 0.50 | 0.57 | 0.44 | 0.53 | 0.58 | 0.46 | 0.49 | |
| Debt to equity | 2.43 | 2.48 | 1.76 | 2.30 | 3.52 | 5.34 | 8.92 | 27.87 | 24.00 | - | |
| ROE | 28.3% | -25.4% | 12.6% | 28.7% | 43.9% | 25.4% | 27.7% | 42.7% | -38.5% | - | |
| ROA | 8.2% | -7.3% | 4.6% | 8.7% | 9.7% | 4.0% | 2.8% | 1.5% | -1.5% | -27.3% | |
| Interest coverage | 7.82 | 1.45 | 6.44 | 9.15 | 10.18 | - | - | - | - | - |
EBIT margin: not included in this filing.
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 31-12-2025 | 31-12-2024 | 31-12-2023 | 31-12-2022 | 31-12-2021 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 25 | 21 | 21 | 22 | 20 |
| full-time | 24 | 20 | 20 | 22 | 20 |
| part-time | 1 | 1 | 1 | 0 | 0 |
| in full-time equivalents | 24.8 | 20.8 | 20.8 | 22 | 20 |
| Average over the year, in full-time equivalents | 22.4 | 20.6 | 21.3 | 21.5 | 20.1 |
| On a permanent contract | 21 | 20 | 20 | 20 | 16 |
| Joined | 11 | 3 | 1 | 9 | 13 |
| Left | 9 | 4 | 5 | 15 | 17 |
Source: social balance sheet in the 2021 to 2025 annual accounts
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €585,280 | €293,853 | €1,645 | €46,408 | €20,775 |
| Intangible fixed assets | - | - | - | - | €111,000 |
| Financial fixed assets | €0 | - | - | - | - |
| Depreciation and write-downs of the year | €291,106 | €452,137 | €476,588 | €515,025 | €556,302 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a profit of €663,379, after a loss of €278,832 in 2024. It is the highest result since 2016.
Debt's share of the balance-sheet total falls from 71.3% to 70.8%. Equity and debt are higher.
Source: lists of holdings in the owners' accounts
packaging4professionals has no parent and no holdings in its annual accounts.
The network lets you explore the ties of packaging4professionals.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number | FASFC approval |
|---|---|---|---|
| Rue du Cimetière 9 registered office 6061 Charleroi | 08-05-2015 | 2.242.298.421 | Manufacturer of packaging materials |
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