Pajuro

Active

Private limited companyfounded 20187 yrs activeWaterleidingsstraat 84, 1050 Elsene, BelgiumKBO/BCE: BE 0713.529.624

The computed 12-month bankruptcy probability of Pajuro is 7.3% (elevated). The 2024 annual accounts show equity of €5k and a net result of €-11k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 15% of 6593 sector peers (fiscal year 2024). The company has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals.

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Checked score

Score 2024

5 / 100

Critical▼ -11 vs 2023

The score combines four axes. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability0=

Solvency4▼-29

Growth78▲+20

Stability100

Bankruptcy probability, 12 months

7.3% Elevated

0%0.5%1.5%4%10%≥ 25%

No credit on open account

Liquidity short (current ratio 0.58 against 0.16 in 2023), and 97% 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

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

+raises risk○neutral

Limited track record

This company has not been active as long as an established one and statistically fails somewhat more often.

KBO · incorporation date

Age against the risk zone

Higher-failure-rate region

In this region companies fail more often than in the rest of the country.

KBO · registered office

Multiple establishment units

Several establishment units mean more fixed costs, and such companies fail more often than a company with one establishment.

KBO · establishment units

Higher-failure-rate sector

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

Gazette · bankruptcies per sector, NACE 10

Relative position

BE, all sectors

reference

Sector 10

higher

← fewer bankruptcies more bankruptcies →

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

-6%

Age of the figures

20 mo

Weak solvency vs sector

Solvency (equity / total assets) is in the sector's weakest quartile: better than 15% of 6593 sector peers (2024).

NBB · sector comparison

Position among 6593 sector peers

Solvency

better than 15%

← weakest strongest →

Filed after the deadline

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-09-2025, 61 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 · 6 filings

Deviation from the deadline

2025

not confirmed

2024

61 d late

2023

28 d late

2022

28 d late

2021

31 d late

2020

31 d late

2019

73 d late

← 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, full schema

Turnover

Not included in this filing

EBIT margin

Not included in this filing

Net result

€-11k

2023 · €41k

2019: €-49k 2020: €-7k 2021: €3k 2022: €-82k 2023: €41k

2019 → 2024

Working capital

€-73k▲ 14.8%

2023 · €-85k

2019: €-66k 2020: €-75k 2021: €-83k 2022: €-144k 2023: €-85k

2019 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20202021202220232024Trend

Equity€-6k-€-3k▲ 49.8%€-85k▼ 2,844%€-44k▲ 48.5%€5k

Operating result€-5k-€8k€-80k€44k€-10k

Net result€-7k-€3k€-82k€41k€-11k

Result per fiscal year

Operating resultNet result

The operating result turns negative in 2024: a loss of €10k after €44k in 2023.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €178k

43.7%

56.3%

Fixed assets €78k▲ 89.0%

Current assets €100k▲ 533%

Equity and liabilities €178k

97.0%

Equity €5k

Debt €173k

Debt finances 97.0% of the balance-sheet total.

Key figures and ratios

2024 value · change against 2023

EBITDA

€-560▼

2023 · €62k

Cash flow

€-951▼

2023 · €60k

Solvency

3.0%▲

2023 · -76.9%

Current ratio

0.58▲

2023 · 0.16

Quick ratio

0.57▲

2023 · 0.14

Debt / equity

32.01▲

2023 · -2.30

ROE

-197.3%▼

2023 · -94.1%

ROA

-6.0%▼

2023 · 72.4%

Interest coverage

-1.43▼

2023 · 25.30

Debt

€173k▲

2023 · €101k

Debt ≤ 1 year

€173k▲

2023 · €101k

Staff costs

€51k▲

2023 · €22k

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€57k€178k▲

Fixed assets21/28€41k€78k▲

Tangible fixed assets22/27€41k€57k▲

Plant, machinery and equipment23€23k€21k▼

Furniture and vehicles24-€7k

Other tangible fixed assets26€18k€29k▲

Financial fixed assets28€95€21k▲

Current assets29/58€16k€100k▲

Stocks and contracts in progress3€1k€2k▲

Stocks30/36€1k€2k▲

Amounts receivable within one year40/41€731€52k▲

Trade receivables40€731€44k▲

Other amounts receivable41-€8k

Cash at bank and in hand54/58€12k€44k▲

Deferred charges and accrued income490/1€2k€2k▲

Equity and liabilities

Total equity and liabilities10/49€57k€178k▲

Equity10/15€-44k€5k▲

Contributions10/11€50k€110k▲

Profit (loss) carried forward14€-94k€-105k▼

Amounts payable17/49€101k€173k▲

Amounts payable within one year42/48€101k€173k▲

Current portion of amounts payable after more than one year42€352€20k▲

Trade debts44€7k€40k▲

Suppliers440/4€7k€40k▲

Taxes, remuneration and social security45€5k€25k▲

Taxes450/3€650€4k▲

Remuneration and social security454/9€4k€21k▲

Other amounts payable47/48€89k€88k▼

Income statement Code20232024

Remuneration, social security and pensions62€22k€51k▲

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€18k€10k▼

Other operating charges640/8€5k€1k▼

Gross operating margin9900€89k€52k▼

Operating profit (loss)9901€44k€-10k▼

Financial income75/76B€6€1▼

Recurring financial income75€6€1▼

Financial charges65/66B€2k€392▼

Recurring financial charges65€2k€392▼

Profit (loss) for the period before taxes9903€41k€-11k▼

Profit (loss) for the period9904€41k€-11k▼

Profit (loss) for the period to be appropriated9905€41k€-11k▼

Appropriation of the result

Profit (loss) to be appropriated9906€-94k€-105k▼

Profit (loss) brought forward from the previous period14P€-135k€-94k▲

Social balance

Average headcount (FTE)90872.13.2▲

The notes to these accounts (7 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 9Financial 3Filings 6

2025

30-09

NBB filing Annual accounts filed

fiscal year 2024 · full schema · 61 days late

2024

28-08

NBB filing Annual accounts filed

fiscal year 2023 · full schema · 28 days late

2023

31-12

Financial Back to profitnet €41k

Net result €41k after one loss-making year.

28-08

NBB filing Annual accounts filed

fiscal year 2022 · full schema · 28 days late

2022

31-12

Financial Weakest financial yearnet €-82k ▼2962%

Net result drops to €-82k, the lowest in the series; recovery starts the following year.

31-08

NBB filing Annual accounts filed

fiscal year 2021 · full schema · 31 days late

2021

31-12

Financial Back to profitnet €3k

Net result €3k after 2 loss-making years.

31-08

NBB filing Annual accounts filed

fiscal year 2020 · micro schema · 31 days late

2020

12-10

NBB filing Annual accounts filed

fiscal year 2019 · micro schema · 73 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, Elsene · 3 establishment units since 2020

establishment All 3 establishment units 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.

Waterleidingsstraat 841050 Elsene

Ground area

390 m²

Building footprint

299 m²

Volume, LiDAR

4,176 m³

3 parcels, Brussels · tallest building 17.7 m, ±5 floors. Linked by address, not a title deed.

3 establishment units

Pajuro

Waterleidingsstraat 84, 1050 ElseneArtisanal bread and fresh pastry making

since 20202.312.598.972

PAJURO

Charleroise Steenweg 174, 1060 Sint-Gillis (bij-Brussel)Retail sale of bread and pastry (bakery outlets)

since 20242.365.065.282

PAJURO

Lesbroussartstraat 27, 1050 ElseneRetail sale of bread and pastry (bakery outlets)

since 20242.365.065.381

3 parcels

Brussels 3 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
21444B0010/00Y009	Brussels	165 m²	1 · 117 m²	17.5 m · 5 fl.
21013B0358/02L006	Brussels	128 m²	1 · 129 m²	17.7 m · 5 fl.
21447B0232/00Z008	Brussels	96 m²	1 · 53 m²	17.7 m · 5 fl.