PALPACK
ActiveSummary
PALPACK has been active since 1987 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €4.1m and a net result of €199,967. Equity is growing by about 34% per year across the filed financial years. Its solvency ranks better than 95% of 173 sector peers (NACE 16, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Overview
Activity
Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials
NACE 16240
5th largest company by equity in Heusden-Zolder, Manufacturing sector1 site
Size
€4.4mtotal assets 2025
- Staff
- 2 FTE
- Equity
- €4.1m
- Profit
- €199,967
Net result -66%: other schema
Structure
- Parent
- MOMEN · 100%
- ANDRZEJEWSKI PawelDirector
- MOMENManaging director
2025 accounts on time1 of 3 deeds summarised
Why 97lowers riskLiquidity: current ratio 24.10, cash €1.9mSize: 2 FTE, total assets €4.4mFounded in 1987Equity €4.1m (93.3% of total assets)Show the evidence
Checked score
Score 2025
97
/ 100
Excellent
Probability in this band: under 0.55%
Financially better than 73% of its sector peers (NACE 16, micro)
Financial strength · tick = 2024
Strong
Solvency
100=
equity 93.3% of total assets
Liquidity
100=
short-term debt 3.8% · cash 44.1%
Profitability
74-11
return on assets 4.5%
Bankruptcy probability, 12 months
< 0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
11-2024: < 0.1%
12-2024: < 0.1%● unchanged vs 11-2024
01-2025: < 0.1%● unchanged vs 12-2024
02-2025: < 0.1%● unchanged vs 01-2025
03-2025: < 0.1%● unchanged vs 02-2025
04-2025: < 0.1%● unchanged vs 03-2025
05-2025: < 0.1%● unchanged vs 04-2025
06-2025: < 0.1%● unchanged vs 05-2025
07-2025: < 0.1%● unchanged vs 06-2025highest value
08-2025: < 0.1%● unchanged vs 07-2025
09-2025: < 0.1%● unchanged vs 08-2025
10-2025: < 0.1%● unchanged vs 09-2025
11-2025: < 0.1%● unchanged vs 10-2025
12-2025: < 0.1%● unchanged vs 11-2025
01-2026: < 0.1%● unchanged vs 12-2025
02-2026: < 0.1%● unchanged vs 01-2026
03-2026: < 0.1%● unchanged vs 02-2026lowest value
04-2026: < 0.1%● unchanged vs 03-2026
05-2026: < 0.1%● unchanged vs 04-2026
06-2026: < 0.1%● unchanged vs 05-2026
07-2026: < 0.1%● unchanged vs 06-2026
08-2026: < 0.1%● unchanged vs 07-2026
09-2026: < 0.1%● unchanged vs 08-2026
10-2026: < 0.1%● unchanged vs 09-2026
Credit of up to €390,000 on 30-day terms is acceptable
Liquidity ample (current ratio 24.1, compared with 9.44 in 2024, above the usual 1.5; short-term debt: 3.8% and cash: 44.1% of total assets), and 6.7% of the assets are financed with debt and provisions.
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 16, micro): better than 90% on solvency, 98% on liquidity, 54% on profitability and 51% on growth.
The bankruptcy probability was computed on 26-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
Credit check for your own amount and term
Show the recommended maximum and see how the verdict changes with amount, term and advance.
Signals
Five signals.
lowers riskneutral
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-07-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
on the day
2023
23 days late
2022
28 days early
2021
31 days late
2020
25 days late
2019
39 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 2 days after the deadline; the sector median (NACE 16) for financial year 2024 is 3 days before the deadline, and 37% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 31 July (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsWhere today falls in the filing period
27-10-2026 today31-12-2026 year end31-07-2027 deadline
- Annual accounts filedfinancial year 2025 · full…
- Liquidity more than doubledcurrent ratio 24.10
- Annual accounts filedfinancial year 2024 · abbreviated…
Financials · financial year 2025, full format
In the rankings
#5 company by equity in Heusden-Zolder, Manufacturing sector#6 oldest company in Heusden-Zolder, Manufacturing sector
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€199,967▼ 66.3%
2024 · €593,322
Working capital
€3.9m▲ 5.2%
2024 · €3.7m
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result has fallen three years in a row; 2025 is 66% below 2024 and is the lowest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€0.3m
2025
Net result€0.2m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€4.4m
2025
Equity€4.1m
2025
Debt€0.3m
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€3.9m
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)4.5%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency93.3%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio24.10
2025
Average staff in full-time equivalents (FTE).
Staff (FTE)2
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 16, Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€0.04m-€0.1m▲ 263%€0.2m▲ 70.9%€0.8m▲ 226%€1.8m▲ 130%€1.1m▼ 38.3%€0.8m▼ 26.7%€0.3m▼ 66.0%
Net result€0.006m-€0.1m▲ 18×€0.2mabove the sector's middle half▲ 39.9%€0.6mabove the sector's middle half▲ 272%€1.3mabove the sector's middle half▲ 120%€0.8mabove the sector's middle half▼ 36.9%€0.6mabove the sector's middle half▼ 26.8%€0.2mwithin the sector's middle half▼ 66.3%
Equity€0.7m-€0.8m▲ 16.7%€0.9mwithin the sector's middle half▲ 20.0%€1.5mabove the sector's middle half▲ 62.1%€2.8mabove the sector's middle half▲ 84.4%€3.3mabove the sector's middle half▲ 18.2%€3.9mabove the sector's middle half▲ 17.9%€4.1mwithin the sector's middle half▲ 5.1%
Total assets€2.1m-€2.1m▲ 1.2%€2.4mabove the sector's middle half▲ 12.0%€3.7mabove the sector's middle half▲ 54.1%€4.6mabove the sector's middle half▲ 26.3%€3.9mabove the sector's middle half▼ 16.1%€4.5mabove the sector's middle half▲ 16.6%€4.4mwithin the sector's middle half▼ 2.6%
Debt€1.4m-€1.3m▼ 6.2%€1.4m▲ 7.4%€2.1m▲ 48.8%€1.8m▼ 15.0%€0.6m▼ 69.0%€0.6m▲ 9.1%€0.3m▼ 51.7%
Working capital€0.9m-€1.0m▲ 12.9%€1.1mabove the sector's middle half▲ 11.6%€1.7mabove the sector's middle half▲ 54.5%€2.6mabove the sector's middle half▲ 54.3%€3.1mabove the sector's middle half▲ 19.5%€3.7mabove the sector's middle half▲ 18.9%€3.9mabove the sector's middle half▲ 5.2%
Solvency32.0%-36.9%▲ 4.9pp39.5%within the sector's middle half▲ 2.6pp41.6%within the sector's middle half▲ 2.1pp60.7%within the sector's middle half▲ 19.1pp85.5%above the sector's middle half▲ 24.8pp86.4%above the sector's middle half▲ 0.9pp93.3%above the sector's middle half▲ 6.8pp
Current ratio2.44-2.75▲ 0.312.48within the sector's middle half▼ 0.272.15within the sector's middle half▼ 0.322.69within the sector's middle half▲ 0.5310.29above the sector's middle half▲ 7.609.44above the sector's middle half▼ 0.8424.10above the sector's middle half▲ 14.66
Return on assets (ROA)0.3%-5.3%▲ 5.0pp6.6%within the sector's middle half▲ 1.3pp15.9%above the sector's middle half▲ 9.3pp27.8%above the sector's middle half▲ 11.9pp20.9%above the sector's middle half▼ 6.9pp13.1%above the sector's middle half▼ 7.8pp4.5%within the sector's middle half▼ 8.6pp
Staff (FTE)3.2-3▼ 6.3%3below the sector's middle half=2.7below the sector's middle half▼ 10.0%2below the sector's middle half▼ 25.9%2below the sector's middle half=2within the sector's middle half=2below the sector's middle half=
above
within
below
the middle half of NACE 16, Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Why a figure moved sharply
- 2025 Net result -66% on 2024. The accounts now follow the full format, last year the abbreviated format.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.4m
Fixed assets
€367,792 ▼ 9.8%
Current assets
€4.0m ▼ 1.9%
Equity and liabilities €4.4m
Equity
€4.1m ▲ 5.1%
Debt
€296,837 ▼ 51.7%
Debt's share of the balance-sheet total falls from 13.6% to 6.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€318,803▼
2024 · €852,912
Cash flow
€243,768▼
2024 · €636,518
Quick ratio
20.69▲
2024 · 8.34
Debt to equity
0.07▼
2024 · 0.16
ROE
4.9%▼
2024 · 15.2%
Interest coverage
25.95▼
2024 · 84.77
Debt ≤ 1 year
€167,514▼
2024 · €435,714
Debt > 1 year
€126,060▼
2024 · €175,799
Income taxes
€68,641▼
2024 · €212,960
Staff costs
€113,399▲
2024 · €108,714
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 17,041 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 94.3% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.5%
went bankrupt
4.9%
stopped otherwise
94.3%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of < 0.1% 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 497,445 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 17,041 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 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | €0.007m | €0.001m | - | - |
| Remuneration, social security and pensions62 | - | - | - | €0.2m | €0.1m | €0.1m | €0.1m | €0.1m | ▲ 4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.04m | €0.04m | €0.04m | €0.04m | €0.04m | €0.04m | €0.04m | €0.04m | ▲ 1.4% |
| Other operating charges640/8 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | ▲ 9.8% |
| Gross operating margin9900 | €0.2m | €0.3m | €0.4m | €1.0m | €2.0m | €1.3m | €1.0m | €0.5m | ▼ 53.9% |
| Operating profit (loss)9901 | €0.04m | €0.1m | €0.2m | €0.8m | €1.8m | €1.1m | €0.8m | €0.3m | ▼ 66.0% |
| Financial income75/76B | - | - | - | €0.001m | €17 | €0.001m | €0.007m | €0.006m | ▼ 11.1% |
| Recurring financial income75 | €0.001m | €0.001m | €33 | €0.001m | €17 | €0.001m | €0.007m | €0.006m | ▼ 11.1% |
| Financial charges65/66B | - | - | - | €0.02m | €0.01m | €0.01m | €0.01m | €0.01m | ▲ 22.1% |
| Recurring financial charges65 | €0.03m | €0.03m | €0.02m | €0.02m | €0.01m | €0.01m | €0.01m | €0.01m | ▲ 22.1% |
| Profit (loss) for the period before taxes9903 | €0.006m | €0.1m | €0.2m | €0.8m | €1.8m | €1.1m | €0.8m | €0.3m | ▼ 66.7% |
| Income taxes67/77 | - | €54 | €0.06m | €0.2m | €0.5m | €0.3m | €0.2m | €0.07m | ▼ 67.8% |
| Profit (loss) for the period9904 | €0.006m | €0.1m | €0.2m | €0.6m | €1.3m | €0.8m | €0.6m | €0.2m | ▼ 66.3% |
| Profit (loss) for the period to be appropriated9905 | €0.006m | €0.1m | €0.2m | €0.6m | €1.3m | €0.8m | €0.6m | €0.2m | ▼ 66.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €2.1m | €2.1m | €2.4m | €3.7m | €4.6m | €3.9m | €4.5m | €4.4m | ▼ 2.6% |
| Fixed assets21/28 | €0.6m | €0.6m | €0.6m | €0.5m | €0.5m | €0.5m | €0.4m | €0.4m | ▼ 9.8% |
| Intangible fixed assets21 | - | - | - | €0 | €0 | €0 | €0 | €0 | - |
| Tangible fixed assets22/27 | €0.6m | €0.6m | €0.5m | €0.5m | €0.5m | €0.5m | €0.4m | €0.4m | ▼ 9.8% |
| Land and buildings22 | - | - | - | €0.5m | €0.5m | €0.4m | €0.4m | €0.4m | ▼ 9.9% |
| Plant, machinery and equipment23 | - | - | - | €0.002m | €0.001m | €0.001m | €379 | €0 | ▼ 100% |
| Furniture and vehicles24 | - | - | - | €0 | €0.02m | €0.01m | €0.01m | €0.01m | ▲ 1.0% |
| Leasing and similar rights25 | - | - | - | €0.004m | €0.002m | €0 | €0 | €0 | - |
| Financial fixed assets28 | €0.007m | €0.007m | €0.007m | - | - | - | - | - | - |
| Current assets29/58 | €1.5m | €1.5m | €1.8m | €3.1m | €4.1m | €3.4m | €4.1m | €4.0m | ▼ 1.9% |
| Stocks and contracts in progress3 | €0.6m | €0.5m | €0.5m | €0.6m | €0.8m | €0.6m | €0.5m | €0.6m | ▲ 18.8% |
| Stocks30/36 | - | - | - | €0.6m | €0.8m | €0.6m | €0.5m | €0.6m | ▲ 18.8% |
| Amounts receivable within one year40/41 | €0.6m | €0.7m | €0.7m | €1.9m | €1.9m | €1.2m | €1.3m | €1.5m | ▲ 12.9% |
| Trade receivables40 | - | - | - | €1.9m | €1.9m | €1.2m | €1.3m | €1.5m | ▲ 8.7% |
| Other amounts receivable41 | - | - | - | - | - | - | - | €0.06m | - |
| Cash at bank and in hand54/58 | €0.2m | €0.4m | €0.6m | €0.7m | €1.4m | €1.7m | €2.3m | €1.9m | ▼ 14.9% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €2.1m | €2.1m | €2.4m | €3.7m | €4.6m | €3.9m | €4.5m | €4.4m | ▼ 2.6% |
| Equity10/15 | €0.7m | €0.8m | €0.9m | €1.5m | €2.8m | €3.3m | €3.9m | €4.1m | ▲ 5.1% |
| Contributions10/11 | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Capital10 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Issued capital100 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Reserves13 | €0.7m | €0.7m | €0.7m | €0.7m | €0.7m | €0.7m | €1.3m | €1.3m | = |
| Non-distributable reserves130/1 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Legal reserve130 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Tax-exempt reserves132 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Distributable reserves133 | - | - | - | €0.7m | €0.7m | €0.7m | €1.3m | €1.3m | = |
| Profit (loss) carried forward14 | -€0.09m | €0.02m | €0.2m | €0.8m | €2.0m | €2.6m | €2.6m | €2.8m | ▲ 7.8% |
| Amounts payable17/49 | €1.4m | €1.3m | €1.4m | €2.1m | €1.8m | €0.6m | €0.6m | €0.3m | ▼ 51.7% |
| Amounts payable after more than one year17 | €0.8m | €0.8m | €0.7m | €0.7m | €0.3m | €0.2m | €0.2m | €0.1m | ▼ 28.3% |
| Financial debts170/4 | - | - | - | €0.7m | €0.3m | €0.2m | €0.2m | €0.1m | ▼ 28.3% |
| Amounts payable within one year42/48 | €0.6m | €0.6m | €0.7m | €1.5m | €1.5m | €0.3m | €0.4m | €0.2m | ▼ 61.6% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.03m | - | - | - | - | - |
| Financial debts43 | - | - | - | - | €0.08m | €0.07m | €0.1m | €0.04m | ▼ 66.4% |
| Other loans439 | - | - | - | - | €0.08m | €0.07m | €0.1m | €0.04m | ▼ 66.4% |
| Trade debts44 | €0.5m | €0.4m | €0.5m | €1.0m | €0.7m | €0.08m | €0.001m | €0.09m | ▲ 75× |
| Suppliers440/4 | - | - | - | €1.0m | €0.7m | €0.08m | €0.001m | €0.09m | ▲ 75× |
| Taxes, remuneration and social security45 | - | - | - | €0.3m | €0.6m | €0.2m | €0.3m | €0.04m | ▼ 88.1% |
| Taxes450/3 | - | - | - | €0.3m | €0.6m | €0.2m | €0.3m | €0.03m | ▼ 90.2% |
| Remuneration and social security454/9 | - | - | - | €0.01m | €0.007m | €0.007m | €0.007m | €0.007m | ▲ 2.9% |
| Other amounts payable47/48 | - | - | - | €0.09m | €0.09m | - | - | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €0.002m | €0.002m | €0.003m | €0.003m | €0.003m | ▲ 21.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.006m | €0.1m | €0.2m | €0.6m | €1.3m | €0.8m | €0.6m | €0.2m | ▼ 66.3% |
| + Depreciation and write-downs630 | €0.04m | €0.04m | €0.04m | €0.04m | €0.04m | €0.04m | €0.04m | €0.04m | ▲ 1.4% |
| Operating cash flow (approximation) | €0.05m | €0.2m | €0.2m | €0.6m | €1.3m | €0.9m | €0.6m | €0.2m | ▼ 61.7% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€0.009m | -€0.02m | €0.002m | €0 | -€0.004m | - |
| Change in cash | - | €0.1m | €0.3m | €0.08m | €0.7m | €0.2m | €0.6m | -€0.3m | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 39 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | full format | 31-07-2026 | 2026-00360843 |
| 31-12-2024 | abbreviated format | 31-07-2025 | 2025-00337553 |
| 31-12-2023 | abbreviated format | 23-08-2024 | 2024-00371008 |
| 31-12-2022 | abbreviated format | 03-07-2023 | 2023-00190744 |
| 31-12-2021 | abbreviated format | 31-08-2022 | 2022-20375155 |
| 31-12-2020 | abbreviated format | 25-08-2021 | 2021-53200391 |
| 31-12-2019 | abbreviated format | 22-06-2020 | 2020-18900574 |
| 31-12-2018 | abbreviated format | 28-06-2019 | 2019-24700338 |
| 31-12-2017 | abbreviated format | 05-07-2018 | 2018-30100021 |
| 31-12-2016 | abbreviated format | 30-06-2017 | 2017-24500496 |
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Of the 123 active companies whose main activity is manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials (NACE 16240), figures are known for 86. 41 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Subsidies and aid
Flemish government
2022 to 2025 · 4 entries · €62,205 awarded · €62,205 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €16,524 | €16,524 |
| 2024 | 1 | €15,300 | €15,300 |
| 2023 | 1 | €15,606 | €15,606 |
| 2022 | 1 | €14,775 | €14,775 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Directors
2 directors, 1 in day-to-day management, last change in 2024
Board 2
ANDRZEJEWSKI Pawel
CurrentDirector · since 05-01-2024
MOMEN
CurrentDirector · since 05-01-2024 · Legal entity
Day-to-day management 1
MOMEN
CurrentManaging director · Legal entity
Derived from published Gazette deeds. The KBO keeps the official list of office holders; we do not read it, so the two can differ.
See the directors and other office holders in the KBO →
Not every act has been read: a resignation may still be missing
2 of this company's 3 Belgian Official Gazette deeds have not been read yet. Appointments and resignations recorded in them are not yet in the list of directors: someone who resigned there may still be listed as sitting. The acts are in the Timeline.
Mandate history
2 people since 2024, 2 in office
- Board
- Day-to-day management
- began earlier
| Name | Functions and periods |
|---|---|
| ANDRZEJEWSKI Pawel |
|
| MOMEN |
|
Owners and capital
Owners
1 ownerChain of control
- MOMEN
- PALPACK
Highest known parent: MOMEN. The sources do not say who stands above it.
Owners 1
- MOMENparent100%
According to the 2025 annual accounts of PALPACK and those of the other companies, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not include these statements in its annual accounts, or does not have to, is not listed.
Capital and shareholders
Capital over the years
- 05-01-2024 Capital stated in the deed · €62,000 · 750 shares
Group and network
Connections & network
2 current directorsThe board mandates are listed below; here you explore them as a network.
This company
Company
Director
Shareholding
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History
Acts, filings and financial milestones
Next filing, financial year 2026, expected by
2026
31-07
NBB filing
Annual accounts filed
financial year 2025 · full format
2025
31-12
Financial
Liquidity more than doubledcurrent ratio 24.10
Current ratio from 9.44 to 24.10; short-term debt falls from €435,714 to €167,514.
31-07
NBB filing
Annual accounts filed
financial year 2024 · abbreviated format
2024
23-08
NBB filing
Annual accounts filed
financial year 2023 · abbreviated format · 23 days late
05-01
Gazette deed
Appointments: MOMEN (director) and ANDRZEJEWSKI Pawel (director)Permanent representative: MOORS Magda Gisela Maria · Reappointment: MOMEN (managing director) · Amendment of the articles15 facts ▸
Gazette deed
Appointments: MOMEN (director) and ANDRZEJEWSKI Pawel (director)
Permanent representative: MOORS Magda Gisela Maria · Reappointment: MOMEN (managing director) · Amendment of the articles15 facts ▸
- General meeting, 20-12-2023
- Amendment of the articles (3 times)
- Capital, €62,000
- Other provision, “ontslag bestuurders, ontslag huidige bestuurders allen voornoemd” (deed in Dutch)
- Board rule, 2
- Director appointment, MOMEN (director)
- Director appointment, ANDRZEJEWSKI Pawel (director)
- Permanent representative, MOORS Magda Gisela Maria
- Registered office clause, “Lochtemanweg 86,3550 Heusden-Zolder” (deed in Dutch)
- Power of attorney (2 times)
- Power of attorney, Eric GILISSEN (3 times)
- Other provision, “blijven gelden voor latere inschrijvingen en wijzigingen op verzoek vennootschap, geldigheid machtigingen elektronisch register” (deed in Dutch)
- +3 further facts in this act
2023
31-12
Financial
Liquidity more than triplescurrent ratio 10.29
Current ratio from 2.69 to 10.29; short-term debt falls from €1.5m to €333,212.
03-07
NBB filing
Annual accounts filed
financial year 2022 · abbreviated format
2022
31-12
Financial
Highest result from 2018 to 2025net €1.3m ▲120%
Operating result €1.8m, net result €1.3m, both a record.
31-12
Financial
Equity above €2mequity €2.8m ▲84.4%
A profit in every financial year since 2018 builds equity to €2.8m.
31-08
NBB filing
Annual accounts filed
financial year 2021 · abbreviated format · 31 days late
2021
31-12
Financial
Equity above €1mequity €1.5m ▲62.1%
A profit in every financial year since 2018 builds equity to €1.5m.
25-08
NBB filing
Annual accounts filed
financial year 2020 · abbreviated format · 25 days late
Show earlier events
2020
22-06
NBB filing
Annual accounts filed
financial year 2019 · abbreviated format
2019
28-06
NBB filing
Annual accounts filed
financial year 2018 · abbreviated format
2018
05-07
NBB filing
Annual accounts filed
financial year 2017 · abbreviated format
2017
30-06
NBB filing
Annual accounts filed
financial year 2016 · abbreviated format
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.Of the 39 annual accounts filed, the latest 10 are here; all 39 are under Financials.
1 of 3 deeds read
About the unread acts
Of the 3 Belgian Official Gazette deeds we know for this company, 1 has been read. The other 2 have not been read yet: what they contain is neither established nor disproved here.
Have them read with priority
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Register details
Identification
Legal formPublic limited company
Founded23-03-1987
Financial year end31-12
Activities, NACEBEL 2025
16240Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials
17210Manufacture of paper and paper products
25920Manufacture of fabricated metal products, except machinery and equipment
46900Non-specialised wholesale trade
E-invoicing
Reachable via Peppol
Peppol ID
0208:0430809167
Registered
21-10-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 27 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Recognitions · licences · registrations
Food safety, FASFC
1 siteHeusden-Zolderunit no. 2.031.630.356
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
Location & real-estate footprint
Registered office, Heusden-Zolder · 1 establishment unit since 1987
Ground area
1.6 ha
Building footprint
622 m²
Building volume
3,012 m³
Parcel 71502C0657/00B000, Flanders · tallest building 5.5 m. Linked by address, not a title deed.
1 establishment unit
PALPACK
since 1987unit no. 2.031.630.356
1 parcel
Flanders
1
(100%)
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 71502C0657/00B000 | Flanders | 1.6 ha | 1 · 622 m² | 5.5 m · 2 |
How the parcels are linked
Good to know
The parcel matches the address exactly.
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “De fabricatie,de herstelling,de groot- en kleinhandel,de in- en uitvoer van paletten en kisten en van alle verpakkingsmateriaal en…” (deed in Dutch)
12 activities (deed in Dutch)
- De fabricatie,de herstelling,de groot- en kleinhandel,de in- en uitvoer van paletten en kisten en van alle verpakkingsmateriaal en verpakkingsmiddelen in het algemeen,dit alles in om het even welke materialen.
- A)het verwerven door inschrijving of aankoop en het beheren van aandelen,obligaties,kasbons of andere roerende waarvan,van welke vorm ook,van Belgische of buitenlandse,bestaande of nog op te richten vennootschappen;
- B)het beheer van een onroerend of roerend vermogen en de huurfinanciering van onroerende goederen aan derden,het aankopen,verkopen,ruilen,bouwen,verbouwen,onderhouden,verhuren,huren,verkavelen,prospecteren en uitbaten van onroerende goederen alsmede alle handelingen die rechtstreeks of onrechtstreeks met dit voorwerp in verband staan en die van aard zijn de opbrengst van de onroerende goederen te bevorderen,alsmede zich borg te stellen voor het goede verloop van verbintenissen door derde personen aangegaan die het genot zouden hebben van deze onroerende goederen.
- A.het bevorderen van de oprichting van vennootschappen door inbreng,participaties of investering;
- B.het toestaan van leningen en kredietopeningen aan vennootschappen of particulieren,onder om het even welke vorm;in dit kader kan zij zich ook borg stellen of haar aval verlenen,in de meest ruime zin;alle handels- en financiële operaties verrichten behalve die wettelijk voorbehouden zijn aan depositobanken,houders van deposito’s op korte termijn,spaarkassen,hypotheekmaatschappijen en kapitalisatieondernemingen;
- C.het verlenen van adviezen van financiële,technische,commerciële of administratieve aard;in de ruimste zin,ter uitzondering van adviesverschaffing inzake beleggingen en geldplaatsingen;bijstand en diensten verlenen,rechtstreeks of onrechtstreeks op het vlak van administratie en financiën,verkoop,productie en algemeen bestuur;
- D.het waarnemen van alle bestuursopdrachten,het uitoefenen van opdrachten functies in andere ondernemingen of vennootschappen;
- E.het ontwikkelen,kopen,verkopen,in licentie nemen of geven van octrooien,know-how en aanverwante immateriële duurzame activa;
- F.het verlenen van administratieve prestaties en computerservices voor rekening van derden,het bijhouden en opvolgen van boekhoudingen alsmede het verlenen van adviezen hieromtrent;
- G.de aan- en verkoop,in- en uitvoer,commissiehandel en vertegenwoordiging van om het even welke goederen,in het kort tussenpersoon in de handel;
- H.het onderzoek,de ontwikkeling,de vervaardiging of commercialisering van nieuwe producten nieuwe technologieën en hun toepassingen;
- I.alle verrichtingen van commerciële,industriële,onroerende,roerende of financiële aard die rechtstreeks of onrechtstreeks met haar voorwerp verwant of verknocht zijn of de verwezenlijking ervan kunnen bevorderen.
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- PALPACK
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaams Gewest, overbrenging naar tweetalig gebied Brussel Hoofdstad of Nederlands taalgebied door eenvoudige beslissing bestuursorgaan met…” (deed in Dutch)
Who represents it, and how
- Board ruleHow the board is made up, meets and takes decisions.
- “Plaats in oproepingsbrief bij gebrek zetel, tenminste helft aanwezig of vertegenwoordigd” (deed in Dutch)
Capital, shares and profit
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- “Aandelen, van de aandeelhouder” (deed in Dutch)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- First Tuesday of May at 17:00
Oversight and winding up
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Benoeming vereffenaars, een of meer door algemene vergadering” (deed in Dutch)“Algemene vergadering anders bij gewone meerderheid, alle verrichtingen vermeld in wet” (deed in Dutch)