Pain perdu

Active

Private limited companyfounded 199135 yrs activeWalpoortstraat 9, 9000 Gent, BelgiumKBO/BCE: BE 0444.037.591

The computed 12-month bankruptcy probability of Pain perdu is 1.6% (moderate). The annual accounts of Pain perdu for fiscal year 2024 show a net loss of 67% of the equity at the start of that year. The 2024 annual accounts show equity of €8k and a net result of €-15k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 20% of 2935 sector peers (fiscal year 2024). The company has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals.

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Checked score

Score 2024

37 / 100

Weak

The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability17▼-56

Solvency29▼-7

Growth52▼-26

Track record100

Bankruptcy probability, 12 months

1.6% Moderate

0%0.5%1.5%4%10%≥ 25%

No publishable credit limit; credit only on tighter terms

Net loss of at least half of total assets or of the equity at the start of the financial year.

Liquidity short (current ratio 0.81 against 0.85 in 2023; short-term debt: 95.9% and cash: 34.7% of total assets), and 96% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Six signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Higher-failure-rate sector

In this sector companies fail more often than the Belgian average.

Gazette · bankruptcies per sector, NACE 56

Relative position

BE, all sectors

reference

Sector 56

higher

← fewer bankruptcies more bankruptcies →

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

Annual accounts: weaker financial profile

The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.

NBB · annual accounts 2024

Solvency, return and age of the figures

Solvency

Return on assets

-8.1%

Age of the figures

21 mo

Weak solvency vs sector

Solvency (equity / total assets) is in the sector's weakest quartile: better than 20% of 2935 sector peers (2024).

NBB · sector comparison

Position among 2935 sector peers

Solvency

better than 20%

← weakest strongest →

Latest accounts filed on time

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 11-07-2025, 20 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

not confirmed

2024

20 d early

2023

5 d early

2022

6 d early

2021

4 d early

2020

37 d early

2019

52 d early

← before the deadline after the deadline →

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2024, abbreviated schema

Equity

€8k▼ 66.9%

2023 · €23k

2018: €3k 2019: €35k 2020: €47k 2021: €92k 2022: €62k 2023: €23k

2018 → 2024

Total assets

€189k▼ 13.5%

2023 · €219k

2018: €80k 2019: €82k 2020: €78k 2021: €264k 2022: €248k 2023: €219k

2018 → 2024

Net result

€-15k

2023 · €8k

2018: €-4k 2019: €32k 2020: €12k 2021: €120k 2022: €48k 2023: €8k

2018 → 2024

Working capital

€-34k▼ 16.4%

2023 · €-29k

2018: €-14k 2019: €22k 2020: €29k 2021: €39k 2022: €-5k 2023: €-29k

2018 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20202021202220232024Trend

Equity€47k-€92k▲ 96.1%€62k▼ 32.5%€23k▼ 62.9%€8k▼ 66.9%

Operating result€13k-€141k▲ 979%€68k▼ 52.0%€23k▼ 66.5%€-11k

Net result€12k-€120k▲ 878%€48k▼ 60.0%€8k▼ 82.5%€-15k

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 turns negative in 2024: a loss of €11k after €23k in 2023, the lowest result in the available series.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €189k

22.0%

78.0%

Fixed assets €42k▼ 20.4%

Current assets €148k▼ 11.4%

Equity and liabilities €189k

96.0%

Equity €8k▼ 66.9%

Debt €182k▼ 7.3%

The debt ratio rises from 89.5% to 96.0%. Equity and debt are lower.

Key figures and ratios

2024 value · change against 2023

EBITDA

€6k▼

2023 · €41k

Cash flow

€1k▼

2023 · €26k

Solvency

4.0%▼

2023 · 10.5%

Current ratio

0.81▼

2023 · 0.85

Quick ratio

0.74▼

2023 · 0.80

Debt / equity

23.85▲

2023 · 8.50

ROE

-202.5%▼

2023 · 36.4%

ROA

-8.1%▼

2023 · 3.8%

Interest coverage

0.98▼

2023 · 5.95

Debt

€182k▼

2023 · €196k

Debt ≤ 1 year

€182k▼

2023 · €196k

Income taxes

€1k▼

2023 · €8k

Staff costs

€507k▲

2023 · €458k

Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.

Filed annual accounts

As filed with the NBB · 2024 against 2023

Balance sheet Code20232024

Assets

Total assets20/58€219k€189k▼

Fixed assets21/28€52k€42k▼

Tangible fixed assets22/27€35k€24k▼

Land and buildings22€9k€14k▲

Plant, machinery and equipment23€4k€3k▼

Furniture and vehicles24€21k€7k▼

Financial fixed assets28€18k€18k=

Current assets29/58€167k€148k▼

Stocks and contracts in progress3€11k€13k▲

Stocks30/36€11k€13k▲

Amounts receivable within one year40/41€43k€64k▲

Trade receivables40€5k€13k▲

Other amounts receivable41€38k€51k▲

Cash at bank and in hand54/58€110k€66k▼

Deferred charges and accrued income490/1€4k€5k▲

Equity and liabilities

Total equity and liabilities10/49€219k€189k▼

Equity10/15€23k€8k▼

Contributions10/11€23k€23k=

Reserves13€0-

Non-distributable reserves130/1€0-

Reserves not available under the articles1311€0-

Profit (loss) carried forward14€442€-15k▼

Amounts payable17/49€196k€182k▼

Amounts payable within one year42/48€196k€182k▼

Trade debts44€82k€75k▼

Suppliers440/4€82k€75k▼

Taxes, remuneration and social security45€66k€68k▲

Taxes450/3€29k€29k▼

Remuneration and social security454/9€36k€39k▲

Other amounts payable47/48€48k€39k▼

Accrued charges and deferred income492/3€100€100=

Income statement Code20232024

Remuneration, social security and pensions62€458k€507k▲

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€18k€17k▼

Other operating charges640/8€6k€5k▼

Non-recurring operating charges66A€0-

Gross operating margin9900€505k€518k▲

Operating profit (loss)9901€23k€-11k▼

Financial income75/76B€396€3k▲

Recurring financial income75€396€3k▲

Financial charges65/66B€7k€6k▼

Recurring financial charges65€7k€6k▼

Profit (loss) for the period before taxes9903€16k€-14k▼

Income taxes67/77€8k€1k▼

Profit (loss) for the period9904€8k€-15k▼

Profit (loss) for the period to be appropriated9905€8k€-15k▼

Appropriation of the result

Profit (loss) to be appropriated9906€46k€-15k▼

Profit (loss) brought forward from the previous period14P€37k€442▼

Transfer from equity791/2€2k€0▼

Profit to be distributed694/7€48k€0▼

Return on contributions (dividend)694€48k€0▼

Social balance

Average headcount (FTE)908717.812.4▼

The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 13Financial 3Filings 10

2025

11-07

NBB filing Annual accounts filed

fiscal year 2024 · abbreviated schema

2024

31-12

Financial Weakest financial yearnet €-15k ▼284%

Net result drops to €-15k, the lowest in the series.

26-07

NBB filing Annual accounts filed

fiscal year 2023 · abbreviated schema

2023

25-07

NBB filing Annual accounts filed

fiscal year 2022 · abbreviated schema

2022

27-07

NBB filing Annual accounts filed

fiscal year 2021 · abbreviated schema

2021

31-12

Financial Highest result since 2018net €120k ▲878%

Operating result €141k, net result €120k, both a record.

24-06

NBB filing Annual accounts filed

fiscal year 2020 · micro schema

2020

09-06

NBB filing Annual accounts filed

fiscal year 2019 · abbreviated schema

2019

31-12

Financial Back to profitnet €32k

Net result €32k after one loss-making year.

14-06

NBB filing Annual accounts filed

fiscal year 2018 · abbreviated schema

2018

26-09

NBB filing Annual accounts filed

fiscal year 2017 · abbreviated schema · 57 days late

2017

01-12

NBB filing Annual accounts filed

fiscal year 2016 · abbreviated schema · 123 days late

2016

14-12

NBB filing Annual accounts filed

fiscal year 2015 · abbreviated schema · 136 days late

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

3 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, Gent · 1 establishment unit since 1991

establishment The establishment unit on the map

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.

Walpoortstraat 99000 Gent

Ground area

410 m²

Building footprint

199 m²

Volume, LiDAR

2,447 m³

Parcel 44805E0021/00D000, Flanders · tallest building 17.2 m, ±4 floors. Linked by address, not a title deed.

1 establishment unit

PAIN PERDU

Walpoortstraat 9, 9000 GentNACE 15812

since 19912.053.430.810

1 parcel

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
44805E0021/00D000 ProtectedMonument · Townscape or village viewKatoenspinnerij De Gandt-Vander Schueren en omgevingSource ↗	Flanders	409 m²	1 · 199 m²	17.2 m · 4 fl.