PAFICO
ActiveSummary
PAFICO has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €668,532 and a net result of €124,151. Equity is shrinking by ~5.2% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability76▲+1
Solvency55▲+3
Growth58=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €35,000 at 30 days acceptable
Liquidity short (current ratio 0.32 against 0.35 in 2024; short-term debt: 70% and cash: 2.6% of total assets), and 70% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
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
30%
Return on assets
5.6%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 24-08-2026, 24 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
24 d late
2024
31 d early
2023
16 d early
2022
29 d late
2021
34 d early
2020
24 d late
2019
27 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 3 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€668,532▲ 4.7%
2024 · €638,390
Total assets
€2.2m▼ 5.6%
2024 · €2.4m
Net result
€124,151▲ 4.2%
2024 · €119,108
Working capital
-€1.1m▲ 5.0%
2024 · -€1.1m
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€123,470▲ 2.3%€135,577▲ 9.8%€145,264▲ 7.1%€151,417▲ 4.2%€158,810▲ 4.9%
Net result€99,887▲ 1.8%€108,311▲ 8.4%€115,124▲ 6.3%€119,108▲ 3.5%€124,151▲ 4.2%
Equity€919,916▼ 5.7%€877,188▼ 4.6%€729,928▼ 16.8%€638,390▼ 12.5%€668,532▲ 4.7%
Total assets€2.7m▼ 4.8%€2.6m▼ 4.8%€2.5m▼ 5.5%€2.4m▼ 4.2%€2.2m▼ 5.6%
Debt€1.8m▼ 4.3%€1.7m▼ 4.9%€1.7m▲ 0.2%€1.7m▼ 0.7%€1.6m▼ 9.4%
Working capital-€934,085▼ 2.3%-€941,991▼ 0.8%-€1.1m▼ 12.0%-€1.1m▼ 5.4%-€1.1m▲ 5.0%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2025 is 5% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.2m
Fixed assets
€1.7m ▼ 1.9%
Current assets
€506,063 ▼ 16.2%
Equity and liabilities €2.2m
Equity
€668,532 ▲ 4.7%
Debt
€1.6m ▼ 9.4%
Debt's share of the balance-sheet total falls from 73.0% to 70.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€192,746▲
2024 · €185,353
Cash flow
€158,087▲
2024 · €153,044
Current ratio
0.32▼
2024 · 0.35
Debt to equity
2.34▼
2024 · 2.70
ROE
18.6%▼
2024 · 18.7%
ROA
5.6%▲
2024 · 5.0%
Interest coverage
3504.48▲
2024 · 3167.88
Debt ≤ 1 year
€1.6m▼
2024 · €1.7m
Income taxes
€34,604▲
2024 · €32,250
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,602 companies that looked in July 2024 the way this one looks now, 1.0% went bankrupt within 24 months and 97% are still going.
- Small
- 10 to 20 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
1.0%
went bankrupt
2.0%
stopped otherwise
97%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.6% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 2,602 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €33,936 | €33,936 | €33,936 | €33,936 | €33,936 | = |
| Other operating charges640/8 | €31,180 | €31,433 | €34,952 | €35,824 | €36,949 | ▲ 3.1% |
| Gross operating margin9900 | €188,586 | €200,946 | €214,152 | €221,177 | €229,696 | ▲ 3.9% |
| Operating profit (loss)9901 | €123,470 | €135,577 | €145,264 | €151,417 | €158,810 | ▲ 4.9% |
| Financial income75/76B | - | - | €302 | €0 | - | - |
| Recurring financial income75 | - | - | €302 | €0 | - | - |
| Financial charges65/66B | €152 | €54 | €52 | €59 | €55 | ▼ 6.0% |
| Recurring financial charges65 | €152 | €54 | €52 | €59 | €55 | ▼ 6.0% |
| Profit (loss) for the period before taxes9903 | €123,318 | €135,523 | €145,515 | €151,358 | €158,755 | ▲ 4.9% |
| Income taxes67/77 | €23,430 | €27,212 | €30,391 | €32,250 | €34,604 | ▲ 7.3% |
| Profit (loss) for the period9904 | €99,887 | €108,311 | €115,124 | €119,108 | €124,151 | ▲ 4.2% |
| Profit (loss) for the period to be appropriated9905 | €99,887 | €108,311 | €115,124 | €119,108 | €124,151 | ▲ 4.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.7m | €2.6m | €2.5m | €2.4m | €2.2m | ▼ 5.6% |
| Fixed assets21/28 | €1.9m | €1.8m | €1.8m | €1.8m | €1.7m | ▼ 1.9% |
| Tangible fixed assets22/27 | €1.9m | €1.8m | €1.8m | €1.8m | €1.7m | ▼ 1.9% |
| Land and buildings22 | €1.9m | €1.8m | €1.8m | €1.8m | €1.7m | ▼ 1.9% |
| Current assets29/58 | €881,339 | €783,324 | €673,818 | €603,979 | €506,063 | ▼ 16.2% |
| Amounts receivable within one year40/41 | €807,995 | €706,426 | €619,834 | €544,005 | €445,099 | ▼ 18.2% |
| Trade receivables40 | - | - | - | €34,856 | €35,951 | ▲ 3.1% |
| Other amounts receivable41 | €807,995 | €706,426 | €619,834 | €509,149 | €409,149 | ▼ 19.6% |
| Cash at bank and in hand54/58 | €40,713 | €43,816 | €50,965 | €56,820 | €57,703 | ▲ 1.6% |
| Deferred charges and accrued income490/1 | €32,631 | €33,082 | €3,019 | €3,154 | €3,261 | ▲ 3.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.7m | €2.6m | €2.5m | €2.4m | €2.2m | ▼ 5.6% |
| Equity10/15 | €919,916 | €877,188 | €729,928 | €638,390 | €668,532 | ▲ 4.7% |
| Contributions10/11 | €70,000 | €70,000 | €70,000 | €70,000 | €70,000 | = |
| Capital10 | €70,000 | €70,000 | €70,000 | €70,000 | €70,000 | = |
| Issued capital100 | €70,000 | €70,000 | €70,000 | €70,000 | €70,000 | = |
| Reserves13 | €849,916 | €807,188 | €659,928 | €568,390 | €598,532 | ▲ 5.3% |
| Non-distributable reserves130/1 | €7,000 | €7,000 | €7,000 | €7,000 | €7,000 | = |
| Legal reserve130 | €7,000 | €7,000 | €7,000 | €7,000 | €7,000 | = |
| Distributable reserves133 | €842,916 | €800,188 | €652,928 | €561,390 | €591,532 | ▲ 5.4% |
| Profit (loss) carried forward14 | - | - | - | €0 | €0 | - |
| Amounts payable17/49 | €1.8m | €1.7m | €1.7m | €1.7m | €1.6m | ▼ 9.4% |
| Amounts payable within one year42/48 | €1.8m | €1.7m | €1.7m | €1.7m | €1.6m | ▼ 9.0% |
| Taxes, remuneration and social security45 | - | €2,212 | €5,391 | €0 | €1,604 | - |
| Taxes450/3 | - | €2,212 | €5,391 | €0 | €1,604 | - |
| Other amounts payable47/48 | €1.8m | €1.7m | €1.7m | €1.7m | €1.6m | ▼ 9.1% |
| Accrued charges and deferred income492/3 | €6,959 | €7,845 | €7,998 | €8,255 | €0 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €99,887 | €108,311 | €115,124 | €119,108 | €124,151 | ▲ 4.2% |
| + Depreciation and write-downs630 | €33,936 | €33,936 | €33,936 | €33,936 | €33,936 | = |
| Operating cash flow (approximation) | €133,823 | €142,247 | €149,060 | €153,044 | €158,087 | ▲ 3.3% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €3,104 | €7,149 | €5,855 | €883 | ▼ 84.9% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
24-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 24 days late
2025
31-12
Financial
Highest result since 2018net €124,151 ▲4.2%
Operating result €158,810, net result €124,151, both a record.
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
15-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 29 days late
2022
27-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
24-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 24 days late
2020
27-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 27 days late
2019
31-12
Financial
Weakest financial yearnet €94,010 ▼14.8%
Net result drops to €94,010, the lowest in the series; recovery starts the following year.
18-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
13-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
26-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 8 acts read
About the unread acts
We know of 8 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
8 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, Scherpenheuvel-Zichem · 1 establishment unit since 2007
Ground area
4,060 m²
Building footprint
234 m²
Volume, LiDAR
1,211 m³
Parcel 24098B0188/00G000, Flanders · tallest building 8.1 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
PAFICO
since 20072.159.910.876
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24098B0188/00G000 | Flanders | 4,060 m² | 1 · 234 m² | 8.1 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Identification & contact
Identification
Legal formPublic limited company
Founded10-01-2007
Fiscal year end31-12
E-invoicing
Reachable via Peppol
Peppol ID
0208:0886570892
Also
9925:BE0886570892
Registered
30-01-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.