Skip to content

PAJOFARM

Active
Private limited companyfounded 200917 yrs activeDerooverlaan (Emiel) 2, 1501 Halle, BelgiumKBO/BCE: BE 0811.084.009
Summary

PAJOFARM has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €45k and a net result of €5k. Equity is growing by ~6.8% per year across the filed fiscal years. Its solvency ranks better than 40% of 15865 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.7% (low).

Checked score

Score 2024
Axes · tick = 2023
Profitability44▲+4
Solvency51▼-4
Growth52=
Track record100
Bankruptcy probability, 12 months
0.7% Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2.5k at 30 days acceptable
Liquidity short (current ratio 0.9 against 1.07 in 2023; short-term debt: 71.3% and cash: 38.3% of total assets), and 73.9% of the assets are financed with debt.
Credit check for your own amount and term

Open the credit simulator : see how the verdict changes with amount, term and advance.

Signals

Four 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 date
Age against the risk zone
highest failure risk from 2 to 8 years 17 years 0 20 y
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies more bankruptcies →
raises risk · 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
26.1%
Return on assets
3.2%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 20-06-2025, 41 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
not confirmed
2024
41 d early
2023
43 d early
2022
31 d early
2021
47 d early
2020
29 d early
2019
42 d early
← before the deadline after the deadline →
Checked, nothing found (1)
neutral · 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, micro schema

Equity
€45k▼ 22.5%
2023 · €58k
Total assets
€173k▼ 10.8%
2023 · €194k
Net result
€5k▲ 141%
2023 · €2k
Working capital
€-12k
2023 · €8k
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
Line20202021202220232024
Operating result€-28k€26k€42k▲ 60.3%€17k▼ 60.3%€22k▲ 32.5%
Net result€-36k€19k€27k▲ 43.7%€2k▼ 91.5%€5k▲ 141%
Equity€11k▼ 77.0%€29k▲ 172%€56k▲ 90.9%€58k▲ 4.0%€45k▼ 22.5%
Total assets€133k▼ 41.8%€160k▲ 20.4%€214k▲ 34.1%€194k▼ 9.2%€173k▼ 10.8%
Debt€122k▼ 32.7%€130k▲ 6.9%€158k▲ 21.3%€136k▼ 13.9%€128k▼ 5.7%
Working capital€-5k€13k€16k▲ 18.0%€8k▼ 47.1%€-12k
Staff (FTE)4.8▼ 7.7%7.6▲ 58.3%9.7▲ 27.6%11.8▲ 21.6%11▼ 6.8%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
€-40k€-20k€0€20k€40kOperating result 2020: €-28k€-28kNet result 2020: €-36k€-36kOperating result 2021: €26k€26kNet result 2021: €19k€19kOperating result 2022: €42k€42kNet result 2022: €27k€27kOperating result 2023: €17k€17kNet result 2023: €2k€2kOperating result 2024: €22k€22kNet result 2024: €5k€5k20202021202220232024€0€20k€40kOperating result 2022: €42k€42kNet result 2022: €27k€27kOperating result 2023: €17k€17kNet result 2023: €2k€2.3kOperating result 2024: €22k€22kNet result 2024: €5k€5.5k202220232024
The operating result recovers in 2024; 2024 is 32% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €173k
Fixed assets €62k ▼ 3.7%
Current assets €111k ▼ 14.2%
Equity and liabilities €173k
Equity €45k ▼ 22.5%
Debt €128k ▼ 5.7%
Debt's share of the balance-sheet total rises from 69.9% to 73.9%. Equity and debt are lower.
Key figures and ratios
2024 value · change against 2023
EBITDA
€31k▲
2023 · €27k
Cash flow
€14k▲
2023 · €13k
Current ratio
0.90▼
2023 · 1.07
Debt to equity
2.83▲
2023 · 2.33
ROE
12.1%▲
2023 · 3.9%
ROA
3.2%▲
2023 · 1.2%
Interest coverage
2.54▲
2023 · 2.35
Debt ≤ 1 year
€124k▲
2023 · €122k
Debt > 1 year
€5k▼
2023 · €14k
Income taxes
€5k▲
2023 · €3k
Staff costs
€263k▼
2023 · €273k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
Filed annual accounts As filed with the NBB · 2024 against 2023 · 45 lines
Balance sheet Code20232024
Assets
Total assets20/58€194k€173k▼
Fixed assets21/28€64k€62k▼
Tangible fixed assets22/27€64k€62k▼
Plant, machinery and equipment23€14k€13k▼
Furniture and vehicles24€5k€7k▲
Assets under construction and advance payments27€45k€42k▼
Current assets29/58€130k€111k▼
Amounts receivable within one year40/41€71k€45k▼
Trade receivables40€53k€34k▼
Other amounts receivable41€18k€11k▼
Cash at bank and in hand54/58€59k€66k▲
Equity and liabilities
Total equity and liabilities10/49€194k€173k▼
Equity10/15€58k€45k▼
Contributions10/11€19k-
Reserves13€40k€45k▲
Non-distributable reserves130/1€2k-
Reserves not available under the articles1311€2k-
Distributable reserves133€38k€45k▲
Amounts payable17/49€136k€128k▼
Amounts payable after more than one year17€14k€5k▼
Financial debts170/4€14k€5k▼
Amounts payable within one year42/48€122k€124k▲
Current portion of amounts payable after more than one year42€10k€10k▲
Trade debts44€92k€74k▼
Suppliers440/4€92k€74k▼
Taxes, remuneration and social security45€15k€15k▲
Taxes450/3€119€23▼
Remuneration and social security454/9€15k€15k▲
Other amounts payable47/48€5k€24k▲
Income statement Code20232024
Remuneration, social security and pensions62€273k€263k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€10k€9k▼
Other operating charges640/8€773€839▲
Gross operating margin9900€301k€294k▼
Operating profit (loss)9901€17k€22k▲
Financial income75/76B€282€26▼
Recurring financial income75€282€26▼
Financial charges65/66B€12k€12k▲
Recurring financial charges65€12k€12k▲
Profit (loss) for the period before taxes9903€5k€10k▲
Income taxes67/77€3k€5k▲
Profit (loss) for the period9904€2k€5k▲
Profit (loss) for the period to be appropriated9905€2k€5k▲
Appropriation of the result
Profit (loss) to be appropriated9906€2k€5k▲
Transfer to equity691/2€2k€5k▲
To other reserves6921€2k€5k▲

The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20202021202220232024Change
Remuneration, social security and pensions62-€178k€220k€273k€263k▼ 3.7%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€16k€11k€12k€10k€9k▼ 16.0%
Other operating charges640/8-€778€753€773€839▲ 8.6%
Gross operating margin9900€132k€217k€274k€301k€294k▼ 2.1%
Operating profit (loss)9901€-28k€26k€42k€17k€22k▲ 32.5%
Financial income75/76B-€350€57€282€26▼ 90.8%
Recurring financial income75€60€350€57€282€26▼ 90.8%
Financial charges65/66B-€8k€11k€12k€12k▲ 5.0%
Recurring financial charges65€9k€8k€11k€12k€12k▲ 5.0%
Profit (loss) for the period before taxes9903€-37k€19k€31k€5k€10k▲ 84.9%
Income taxes67/77€-614€0€5k€3k€5k▲ 44.4%
Profit (loss) for the period9904€-36k€19k€27k€2k€5k▲ 141%
Profit (loss) for the period to be appropriated9905€-36k€19k€27k€2k€5k▲ 141%
Line20202021202220232024Change
Assets
Total assets20/58€133k€160k€214k€194k€173k▼ 10.8%
Fixed assets21/28€63k€51k€64k€64k€62k▼ 3.7%
Intangible fixed assets21€3k€2k----
Tangible fixed assets22/27€60k€50k€64k€64k€62k▼ 3.7%
Plant, machinery and equipment23-€3k€10k€14k€13k▼ 9.1%
Furniture and vehicles24--€4k€5k€7k▲ 49.2%
Leasing and similar rights25-€5k€3k---
Assets under construction and advance payments27-€42k€47k€45k€42k▼ 7.7%
Current assets29/58€70k€108k€150k€130k€111k▼ 14.2%
Amounts receivable within one year40/41€16k€29k€47k€71k€45k▼ 36.5%
Trade receivables40-€23k€43k€53k€34k▼ 35.2%
Other amounts receivable41-€6k€4k€18k€11k▼ 40.4%
Cash at bank and in hand54/58€54k€77k€103k€59k€66k▲ 12.7%
Deferred charges and accrued income490/1-€2k----
Equity and liabilities
Total equity and liabilities10/49€133k€160k€214k€194k€173k▼ 10.8%
Equity10/15€11k€29k€56k€58k€45k▼ 22.5%
Contributions10/11-€19k€19k€19k--
Reserves13€27k€27k€38k€40k€45k▲ 13.7%
Non-distributable reserves130/1-€2k€2k€2k--
Reserves not available under the articles1311-€2k€2k€2k--
Distributable reserves133-€25k€36k€38k€45k▲ 19.3%
Profit (loss) carried forward14€-35k€-16k----
Amounts payable17/49€122k€130k€158k€136k€128k▼ 5.7%
Amounts payable after more than one year17€47k€35k€24k€14k€5k▼ 68.1%
Financial debts170/4-€35k€24k€14k€5k▼ 68.1%
Amounts payable within one year42/48€75k€95k€134k€122k€124k▲ 1.6%
Current portion of amounts payable after more than one year42-€12k€11k€10k€10k▲ 2.0%
Trade debts44€62k€82k€106k€92k€74k▼ 19.4%
Suppliers440/4-€82k€106k€92k€74k▼ 19.4%
Taxes, remuneration and social security45-€339€14k€15k€15k▲ 3.3%
Taxes450/3-€339€263€119€23▼ 80.3%
Remuneration and social security454/9--€13k€15k€15k▲ 3.9%
Other amounts payable47/48-€339€3k€5k€24k▲ 373%
Line20202021202220232024Change
Profit (loss) for the period9904€-36k€19k€27k€2k€5k▲ 141%
+ Depreciation and write-downs630€16k€11k€12k€10k€9k▼ 16.0%
Operating cash flow (approximation)€-20k€30k€38k€13k€14k▲ 12.0%
Investment in fixed assets (approximation)-€0€-24k€-11k€-6k▲ 40.1%
Change in cash-€23k€26k€-44k€7k▲ 117%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

Download as CSV

Timeline · acts, filings and financial milestones

2025
20-06
NBB filing Annual accounts filed
fiscal year 2024 · micro schema
2024
18-06
NBB filing Annual accounts filed
fiscal year 2023 · micro schema
2023
30-06
NBB filing Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial Highest result since 2018net €27k ▲43.7%
Operating result €42k, net result €27k, both a record.
14-06
NBB filing Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial Back to profitnet €19k
Net result €19k after one loss-making year.
02-07
NBB filing Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial Weakest financial yearnet €-36k
Net result drops to €-36k, the lowest in the series; recovery starts the following year.
19-06
NBB filing Annual accounts filed
fiscal year 2019 · micro schema
2019
27-06
NBB filing Annual accounts filed
fiscal year 2018 · micro schema
2018
28-06
NBB filing Annual accounts filed
fiscal year 2017 · micro schema
2017
29-06
NBB filing Annual accounts filed
fiscal year 2016 · micro schema
2016
15-06
NBB filing Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts

We know of 6 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.

Have them read with priority Sign in to place this company at the front of the reading queue.

Directors · office · real estate

Directors
6 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, Halle · 1 establishment unit since 2013
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.

Derooverlaan (Emiel) 21501 Halle
1 establishment unit
Lunch Time
Derooverlaan (Emiel) 2, 1501 HalleRetail sale of bread and pastry (bakery outlets)
since 20132.215.732.396

Recognitions · licences · registrations

Food safety, FASFC

1 site
Halle2.215.732.396
1 permission
Toelating · Eetgelegenheid · since 01-01-2013

Similar companies · same sector, comparable size

Of 253 companies in sector 46381 we hold annual accounts for 178. 99 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector

Identification & contact

Identification
Legal formPrivate limited company
Founded09-04-2009
Fiscal year end31-12
Activities, NACEBEL 2025
46381Wholesale trade
56112Limited-service restaurants, excluding mobile food services
01150Crop and animal production, hunting and related service activities
10311Manufacture of food products

Scores and ratios are computed by Checked and are not a credit decision.