PAPARAM
ActiveSummary
The computed 12-month bankruptcy probability of PAPARAM is 5.3% (elevated). The 2025 annual accounts show negative equity (-€54,822) and a net result of -€4,473. Equity is shrinking by ~9.8% per year across the filed fiscal years. Its solvency ranks better than 7% of 13683 sector peers (fiscal year 2025). The company has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-82
Solvency0=
Growth38=
Track record100
Bankruptcy probability, 12 months
5.3%
Elevated
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.3 against 0.32 in 2024; short-term debt: 287.8% and cash: 48.3% of total assets), and equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · 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
Food and beverage service activities (NACE 56)
about 206% 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 2025Solvency, return and age of the figures
Solvency
-198%
Return on assets
-16.2%
Age of the figures
9 mo
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€54,822
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 07-09-2026, 38 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 · 10 filingsDeviation from the deadline
2025
38 d late
2024
27 d late
2023
29 d late
2022
24 d late
2021
25 d late
2020
54 d late
2019
63 d late
← 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 37 days after the deadline; the sector median for financial year 2024 is 6 days after the deadline, and 53% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 27 August (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Turnover
€3,699▼ 92.4%
2021 · €48,942
EBIT margin
-630.7%▼ 630.0pp
2021 · -0.7%
Net result
-€4,473
2024 · €3,355
Working capital
-€55,465▲ 1.6%
2024 · -€56,352
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 56, Food and beverage service activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€48,942▼ 28.6%€3,699▼ 92.4%
Operating result-€355▲ 95.1%-€23,333▼ 6,472%€3,093€3,521▲ 13.8%-€4,206
Net result-€1,004within the sector's middle half▲ 87.3%-€23,632below the sector's middle half▼ 2,254%€3,188within the sector's middle half€3,355within the sector's middle half▲ 5.2%-€4,473within the sector's middle half
EBIT margin-0.7%▲ 9.8pp-630.7%▼ 630.0pp
Equity-€36,410below the sector's middle half▼ 2.8%-€60,042below the sector's middle half▼ 64.9%-€53,704below the sector's middle half▲ 10.6%-€50,350below the sector's middle half▲ 6.2%-€54,822below the sector's middle half▼ 8.9%
Total assets€42,287below the sector's middle half▼ 21.4%€27,897below the sector's middle half▼ 34.0%€32,209below the sector's middle half▲ 15.5%€32,483below the sector's middle half▲ 0.9%€27,681below the sector's middle half▼ 14.8%
Debt€78,698▼ 11.8%€87,939▲ 11.7%€85,913▼ 2.3%€82,833▼ 3.6%€82,504▼ 0.4%
Working capital-€62,864below the sector's middle half▲ 8.8%-€79,413below the sector's middle half▼ 26.3%-€66,887below the sector's middle half▲ 15.8%-€56,352below the sector's middle half▲ 15.8%-€55,465below the sector's middle half▲ 1.6%
Solvency-86.1%below the sector's middle half▼ 20.3pp-215.2%below the sector's middle half▼ 129.1pp-166.7%below the sector's middle half▲ 48.5pp-155.0%below the sector's middle half▲ 11.7pp-198.0%below the sector's middle half▼ 43.0pp
Current ratio0.20below the sector's middle half▼ 0.030.10below the sector's middle half▼ 0.100.22below the sector's middle half▲ 0.120.32below the sector's middle half▲ 0.100.30below the sector's middle half▼ 0.02
Return on assets (ROA)-2.4%within the sector's middle half▲ 12.3pp-84.7%below the sector's middle half▼ 82.3pp9.9%within the sector's middle half▲ 94.6pp10.3%within the sector's middle half▲ 0.4pp-16.2%below the sector's middle half▼ 26.5pp
above
within
below
the middle half (P25 to P75) of NACE 56, Food and beverage service activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €4,206 after €3,521 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €27,681
Fixed assets
€3,483 ▼ 42.0%
Current assets
€24,198 ▼ 8.6%
Key figures and ratios
EBITDA
-€1,687▼
2024 · €10,702
Cash flow
-€1,954▼
2024 · €10,536
Quick ratio
0.29▼
2024 · 0.32
Debt to equity
-1.50▲
2024 · -1.65
Interest coverage
-6.30▼
2024 · 64.28
Debt ≤ 1 year
€79,662▼
2024 · €82,833
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,906 companies that looked in July 2024 the way this one looks now, 5.8% went bankrupt within 24 months and 85% are still going.
- Micro
- 10 to 20 years old
- negative equity
- a loss of 10% of the balance sheet or more
5.8%
went bankrupt
8.1%
stopped otherwise
85%
still going
A further 0.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 5.3% 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 497,340 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% | 1.0% |
| 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% 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 6,906 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €48,942 | €3,699 | - | - | - | - |
| Non-recurring operating income76A | €1,391 | - | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | €44,855 | €19,465 | - | - | - | - |
| Remuneration, social security and pensions62 | -€1,388 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,083 | €7,083 | €7,165 | €7,181 | €2,519 | ▼ 64.9% |
| Other operating charges640/8 | €1,408 | €484 | €979 | €1,310 | €365 | ▼ 72.1% |
| Gross operating margin9900 | €6,748 | -€15,766 | €11,237 | €12,012 | -€1,322 | ▼ 111% |
| Operating profit (loss)9901 | -€355 | -€23,333 | €3,093 | €3,521 | -€4,206 | ▼ 219% |
| Financial income75/76B | €1 | - | €271 | €0 | €1 | ▲ 970% |
| Recurring financial income75 | €1 | - | €271 | €0 | €1 | ▲ 970% |
| Financial charges65/66B | €650 | €299 | €176 | €166 | €268 | ▲ 60.9% |
| Recurring financial charges65 | €650 | €299 | €176 | €166 | €268 | ▲ 60.9% |
| Profit (loss) for the period before taxes9903 | -€1,004 | -€23,632 | €3,188 | €3,355 | -€4,473 | ▼ 233% |
| Profit (loss) for the period9904 | -€1,004 | -€23,632 | €3,188 | €3,355 | -€4,473 | ▼ 233% |
| Profit (loss) for the period to be appropriated9905 | -€1,004 | -€23,632 | €3,188 | €3,355 | -€4,473 | ▼ 233% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €42,287 | €27,897 | €32,209 | €32,483 | €27,681 | ▼ 14.8% |
| Fixed assets21/28 | €26,454 | €19,370 | €13,183 | €6,002 | €3,483 | ▼ 42.0% |
| Intangible fixed assets21 | €22,303 | €15,603 | €8,903 | €2,203 | - | - |
| Tangible fixed assets22/27 | €1,368 | €984 | €1,497 | €1,016 | €700 | ▼ 31.1% |
| Plant, machinery and equipment23 | €1,368 | €984 | €601 | €218 | - | - |
| Other tangible fixed assets26 | - | - | €896 | €798 | €700 | ▼ 12.3% |
| Financial fixed assets28 | €2,783 | €2,783 | €2,783 | €2,783 | €2,783 | = |
| Current assets29/58 | €15,834 | €8,527 | €19,026 | €26,481 | €24,198 | ▼ 8.6% |
| Stocks and contracts in progress3 | - | - | €294 | €358 | €1,097 | ▲ 206% |
| Stocks30/36 | - | - | €294 | €358 | €1,097 | ▲ 206% |
| Amounts receivable within one year40/41 | €6,232 | €7,838 | €5,540 | €10,945 | €9,743 | ▼ 11.0% |
| Trade receivables40 | €4,951 | €4,724 | €2,337 | €9,656 | €8,454 | ▼ 12.4% |
| Other amounts receivable41 | €1,280 | €3,114 | €3,203 | €1,289 | €1,289 | = |
| Cash at bank and in hand54/58 | €9,602 | €689 | €13,192 | €15,178 | €13,358 | ▼ 12.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €42,287 | €27,897 | €32,209 | €32,483 | €27,681 | ▼ 14.8% |
| Equity10/15 | -€36,410 | -€60,042 | -€53,704 | -€50,350 | -€54,822 | ▼ 8.9% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Profit (loss) carried forward14 | -€55,010 | -€78,642 | -€72,304 | -€68,950 | -€73,422 | ▼ 6.5% |
| Amounts payable17/49 | €78,698 | €87,939 | €85,913 | €82,833 | €82,504 | ▼ 0.4% |
| Amounts payable within one year42/48 | €78,698 | €87,939 | €85,913 | €82,833 | €79,662 | ▼ 3.8% |
| Trade debts44 | €4,637 | €4,535 | €6,091 | €8,916 | €8,189 | ▼ 8.2% |
| Suppliers440/4 | €4,637 | €4,535 | €6,091 | €8,916 | €8,189 | ▼ 8.2% |
| Advances received on contracts in progress46 | €1,022 | €1,288 | €1,304 | €266 | €266 | = |
| Taxes, remuneration and social security45 | - | €1,750 | - | €646 | €986 | ▲ 52.7% |
| Taxes450/3 | - | - | - | €646 | €986 | ▲ 52.7% |
| Remuneration and social security454/9 | - | €1,750 | - | - | - | - |
| Other amounts payable47/48 | €73,039 | €80,366 | €78,519 | €73,005 | €70,221 | ▼ 3.8% |
| Accrued charges and deferred income492/3 | - | - | - | - | €2,841 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€1,004 | -€23,632 | €3,188 | €3,355 | -€4,473 | ▼ 233% |
| + Depreciation and write-downs630 | €7,083 | €7,083 | €7,165 | €7,181 | €2,519 | ▼ 64.9% |
| Operating cash flow (approximation) | €6,079 | -€16,549 | €10,353 | €10,536 | -€1,954 | ▼ 119% |
| Investment in fixed assets (approximation) | - | €0 | -€978 | €0 | €0 | - |
| Change in cash | - | -€8,913 | €12,504 | €1,986 | -€1,821 | ▼ 192% |
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
Next filing, fiscal year 2026, expected by
2026
07-09
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 38 days late
2025
27-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 27 days late
2024
31-12
Financial
Highest result since 2018net €3,355 ▲5.2%
Operating result €3,521, net result €3,355, both a record.
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 29 days late
2023
31-12
Financial
Back to profitnet €3,188
Net result €3,188 after 5 loss-making years.
24-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 24 days late
2022
31-12
Financial
Weakest financial yearnet -€23,632
Net result drops to -€23,632, the lowest in the series; recovery starts the following year.
25-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 25 days late
2021
23-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 54 days late
2020
02-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 63 days late
2019
31-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 30 days late
2017
29-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 29 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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
7 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, Ukkel · 1 establishment unit since 2015
Ground area
83 m²
Building footprint
82 m²
Volume, LiDAR
681 m³
Parcel 21618B0337/00P011, Brussels · tallest building 14.5 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Houzeaulaan 21, 1180 Ukkel
since 20152.241.452.541
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21618B0337/00P011 | Brussels | 83 m² | 1 · 82 m² | 14.5 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Food safety, FASFC
1 siteUkkel2.241.452.541
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 21,853 companies in sector 56112 we hold annual accounts for 9,781. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded14-04-2015
Fiscal year end31-12
Activities, NACEBEL 2025
56112Limited-service restaurants, excluding mobile food services
Contact
E-mail
alain.poznanski@gmail.comUkkel
Phone
0476/639062Ukkel
E-invoicing
Reachable via Peppol
Peppol ID
0208:0628588803
Also
9925:BE0628588803
Registered
22-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.