PAJOFARM
ActiveSummary
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.
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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 dateAge against the risk zone
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 2024Solvency, 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 filingsDeviation 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)
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
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
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
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| 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% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| 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% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| 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.
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.
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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 Halle1 establishment unit
Lunch Time
since 20132.215.732.396
Recognitions · licences · registrations
Food safety, FASFC
1 siteHalle2.215.732.396
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NIJF VISGROOTHANDEL
BE 0808.557.059
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NIJSPATAT
BE 0480.327.568
Lubbeek · Eq €56k
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.