Equity
€188,795 ▲ 22.5%
PAF ! has made a profit without a break since 2023.
PAF !
Lifetime
14 annual accounts with figures on one time axispeak €559,293 (2024)
€425,061▼ 24.0%
lowest -€9,590 (2022)
€26,909▼ 31.2%
peak €188,795 (2025)
€188,795▲ 22.5%
€395,131▲ 73.8%
peak 7.4 FTE (2024)
6 FTE▼ 18.9%
Board6 names since 2021
3 directors and 2 others
Owners3 names in the annual accounts
34% and 1 other
Documentsfilings and deeds
31-08-202631 days late
2025abbreviated format
Gross margin from €559,293 to €425,061Result from €39,118 to €26,909Staff from 7.4 FTE to 6 FTERegistered office moved from Ixelles to Watermael-Boitsfort 02-123 directors appointed, 3 resignations 26-06Equity from €154,128 to €188,795
Key points
from the 2025 annual accountsTurnover
≈ €1.1m estimated
The accounts state no turnover.
Debts
€395,131 ▲ 73.8%
Debts rose by €167,809 in 2025.
Filings
14 annual accounts since 2012
Nine of the last ten came late. The 2020 accounts came latest: 181 days after the end of the period.
At the same address
86 companies
Restructuring
2024
Merger with MEDIA A. Merger on 16-07-2024.
Checked score
Bankruptcy probability within 12 months
Financial strength
Score breakdown
Comparable companies, two years later
In July 2024, 10,904 companies had the same profile as PAF ! has now. Each dot stands for 28 companies, two years later.
95.1%
were still trading
4.0%
stopped another way
0.7%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
Test of the method
The method was tested on the 497,448 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 10,904 companies, not a prediction for PAF !. 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
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Board and ownership
Director,
Director,
Director,
- 34%score equity €59,686 (2025) · 2025 annual accounts of
- 33%score equity €117,788 (2025) · 2025 annual accounts of
- 33%score equity €72,615 (2025) · 2025 annual accounts of
Recent changes
Registered office moved from Ixelles to Watermael-Boitsfort
New registered office: Boulevard du Souverain 24 à 1170 Watermael-Boitsfort · Previous registered office: Avenue de la Couronne 242 à 1050 Ixelles · Board meeting of 27-11-2025 · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0837760393
3 directors appointed, 3 resignations
Resignations: , and · Appointments: , and · Permanent representatives: , and · Board meeting of 13-06-2025 · Gazette deed
Merger: PAF ! takes over MEDIA A
Changes of role: , and · “À l'activité d'intermédiaire commercial, de bureau d'études, de conseil, d'organisation, de publicité, de…” (deed in French) · holds 34 shares · General meeting of 27-03-2024 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| PAF ! Watermael-Boitsfort | €583,926 | €425,061 | 32.3% | 6 |
| EHRS Ghent | €584,910 | €390,707 | 35.2% | 4.8 |
| SPADE Sint-Gillis (bij-Brussel) | €463,605 | €420,882 | 49.7% | 7 |
| CENTRALAPP Ixelles | €670,643 | €420,653 | 75.4% | 5.9 |
| Demute Koekelberg | €527,320 | €328,024 | 46.5% | 6.5 |
| Minsky Brussels | €423,923 | €443,361 | 32.9% | 7.1 |
| RAYFERENCE Brussels | €496,805 | €481,061 | 27.6% | 4.1 |
These companies have the same main activity as PAF !: computer programming (NACE 62100). They are comparable in size and age: total assets between €424,000 and €671,000, founded between 2011 and 2014.
Official details
Source: KBO- Status
- Active since 11-07-2011Normal situation
- Registered office
- 87 active companies are registered at this address4 started in the 12 months before. Source: KBO register, as of 11 November 2026.
- Activity
- Computer programmingNACE 62100and 8 others
- Joint committee
- 200Auxiliary committee for white-collar workers · annual accounts 2024
- Establishment unit
- 2.200.786.7751170 Watermael-Boitsfort, since 07-07-2011
- Financial year end
- 31 December
- Peppol
- Reachable since 16-10-2025
Annual accounts 2025
- €583,926▲ 53.1%
- Employeeson 31-12-2025
- 6▼ 14.3%
- Filing
- Filed on 31-08-2026
Insights on PAF !
PAF ! files the abbreviated format. That format states no turnover. The gross margin rose from €2,259 in 2012 to €425,061 in 2025.
In June 2025, 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 PAF !
- What is the company number of PAF !?
- The company number of PAF ! is 0837.760.393. The VAT number is the same number with BE in front: BE 0837.760.393.
- Where is PAF ! based?
- The registered office is at Vorstlaan 24, 1170 Watermael-Boitsfort.Company details
- What does PAF ! do?
- According to the KBO register, the main activity is computer programming (NACE 62100).
- What is the legal form of PAF !?
- PAF ! is a private limited company (pre-2019) (BVBA).
- When was PAF ! founded?
- PAF ! was founded on 11-07-2011.
- Is PAF ! still active?
- Yes, PAF ! is an active enterprise in the KBO register.
- How many employees does PAF ! have?
- PAF ! had an average of 6 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does PAF ! fall under?
- In its 2024 annual accounts, PAF ! states joint committee 200 (Auxiliary committee for white-collar workers).
- What is the turnover of PAF !?
- The turnover in financial year 2025 is ≈ €1.1m. This figure is estimated from the gross margin of €425,061 and 149 comparable companies (NACE 62). It probably lies between €770,000 and €1.8m.
- Is PAF ! profitable?
- In financial year 2025, PAF ! made a profit of €26,909.
- Where can I find the annual accounts of PAF !?
- PAF ! filed 14 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of PAF ! due?
- PAF ! must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
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