PapCom
ActiveSummary
PapCom has been active since 2023 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €50,588 and a net result of -€3,323. Equity is growing by about 24% per year across the filed financial years. Its solvency ranks better than 95% of 8,541 sector peers (NACE 73, financial year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Overview
- Equity
- €50,588
- Loss
- -€3,323
Why 88raises riskLast filed accounts filed 31 days late; 1 of the last 3 latelowers riskLiquidity: current ratio 3816.19, cash €18,943Sector: Advertising, market research and public relations activities (NACE 73)Equity €50,588 (100.0% of total assets)Show the evidence
Checked score
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 73, micro): better than 87% on solvency, 91% on liquidity, 16% on profitability and 34% 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).
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Signals
This company filed its last 3 accounts on average 15 days after the deadline; the sector median (NACE 73) for financial year 2024 is 6 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Weakest financial yearnet -€3,323
- Liquidity more than 117 timescurrent ratio 3816.19
Financials · financial year 2025, micro format
2025 annual accounts filed late (31 days) Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00474156.
2023 to 2025, 3 financial years
The operating result turns negative in 2025: a loss of €3,623 after €38,220 in 2024, 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.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 73, Advertising, market research and public relations activities: 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).
Peer companies
Historical observationOf the 2,145 companies that looked in July 2024 the way this one looks now, 2.2% went bankrupt within 24 months and 91.7% are still going.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a small loss
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.2% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
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 2,145 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.
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,275 | €930 | €1,180 | ▲ 26.9% |
| Gross operating margin9900 | €33,204 | €39,150 | -€2,443 | - |
| Operating profit (loss)9901 | €31,929 | €38,220 | -€3,623 | - |
| Financial income75/76B | €19 | €34 | €485 | ▲ 14× |
| Recurring financial income75 | €19 | €34 | €485 | ▲ 14× |
| Financial charges65/66B | €48 | €103 | €185 | ▲ 79.7% |
| Recurring financial charges65 | €48 | €103 | €185 | ▲ 79.7% |
| Profit (loss) for the period before taxes9903 | €31,900 | €38,151 | -€3,323 | - |
| Income taxes67/77 | €6,861 | €10,279 | - | - |
| Profit (loss) for the period9904 | €25,039 | €27,872 | -€3,323 | - |
| Profit (loss) for the period to be appropriated9905 | €25,039 | €27,872 | -€3,323 | - |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €34,944 | €55,504 | €50,600 | ▼ 8.8% |
| Fixed assets21/28 | €1,215 | €3,834 | €3,012 | ▼ 21.4% |
| Tangible fixed assets22/27 | €1,215 | €3,834 | €3,012 | ▼ 21.4% |
| Furniture and vehicles24 | €1,215 | €3,834 | €3,012 | ▼ 21.4% |
| Current assets29/58 | €33,728 | €51,670 | €47,588 | ▼ 7.9% |
| Amounts receivable within one year40/41 | €7,514 | €7,560 | €8,418 | ▲ 11.3% |
| Trade receivables40 | €6,821 | €7,560 | - | - |
| Other amounts receivable41 | €693 | - | €8,418 | - |
| Current investments50/53 | - | €16,005 | €20,176 | ▲ 26.1% |
| Cash at bank and in hand54/58 | €26,214 | €28,064 | €18,943 | ▼ 32.5% |
| Deferred charges and accrued income490/1 | - | €41 | €51 | ▲ 24.6% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €34,944 | €55,504 | €50,600 | ▼ 8.8% |
| Equity10/15 | €26,039 | €53,911 | €50,588 | ▼ 6.2% |
| Contributions10/11 | €1,000 | €1,000 | €1,000 | = |
| Profit (loss) carried forward14 | €25,039 | €52,911 | €49,588 | ▼ 6.3% |
| Amounts payable17/49 | €8,904 | €1,593 | €12 | ▼ 99.2% |
| Amounts payable within one year42/48 | €8,904 | €1,593 | €12 | ▼ 99.2% |
| Trade debts44 | €544 | - | - | - |
| Suppliers440/4 | €544 | - | - | - |
| Taxes, remuneration and social security45 | €6,861 | €1,553 | €12 | ▼ 99.2% |
| Taxes450/3 | €6,861 | €1,553 | €12 | ▼ 99.2% |
| Other amounts payable47/48 | €1,500 | €40 | - | - |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €25,039 | €27,872 | -€3,323 | - |
| + Depreciation and write-downs630 | €1,275 | €930 | €1,180 | ▲ 26.9% |
| Operating cash flow (approximation) | €26,314 | €28,801 | -€2,143 | - |
| Investment in fixed assets (approximation) | - | -€3,548 | -€359 | ▲ 89.9% |
| Change in cash | - | €1,850 | -€9,120 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (3)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 31-08-2026 | 2026-00474156 |
| 31-12-2024 | micro format | 31-07-2025 | 2025-00343376 |
| 31-12-2023 | micro format | 15-08-2024 | 2024-00346217 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Owners and capital
Owners
No owners or capital events in the accounts and acts we read.
History
Acts, filings and financial milestones
04-10
Gazette deed
Registered officeRegistered-office move2 facts ▸
- General meeting, 05-09-2023
- Registered-office move, Rue de Suède 38 (rez), 1060 Bruxelles
17-03
Gazette deed
IncorporationAppointment: Papeians de Morchoven dit van der Strepen Adrien Evence François Marie Joseph (director) · Founder · Founding capital10 facts ▸
- Founder, Papeians de Morchoven dit van der Strepen Adrien Evence François Marie Joseph
- Other provision, “capacité juridique du comparant” (deed in French)
- Founding capital, €1,000
- Bank account, “BE(…), compte spécial au nom de la société en formation” (deed in French)
- Other provision, “destination des apports” (deed in French)
- Capital
- Registered office clause, “1180 Bruxelles,avenue de l'Observatoire 2 Boite 24” (deed in French)
- Director appointment, Papeians de Morchoven dit van der Strepen Adrien Evence François Marie Joseph (director (not named in the articles))
- Board rule, 1, “assemblée” (deed in French)
- Incorporation, “PapCom” (deed in French)
Register details
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.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21562A0353/00D013indicative | Brussels | 92 m² | 1 · 95 m² | 18.9 m · 4 |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “1. Les activités de conseils en communication et en relations publiques (consultant marketing,gestionnaire de réseaux sociaux,...); 2. La…” (deed in French)
16 activities (deed in French)
- 1. Les activités de conseils en communication et en relations publiques (consultant marketing,gestionnaire de réseaux sociaux,...).
- 2. La réalisation audiovisuelle,cinématographique et télévisuelle,au sens le plus large ;
- 3. La production,la production exécutive,la coproduction,la préproduction et la postproduction audio-visuelle cinématographique et télévisuelle,au sens le plus large,de films de tous types et toutes durées,de fictions,de publicités,de documentation,d’entreprises et d’actualité,en ce compris la création de concept télévisuel;
- 4. L’édition et la coédition d’œuvres audiovisuelles,de cinéma,de spectacles,de livres et de musique ;
- 5. La réalisation d’enquêtes et commandes d’ouvrages,scripts ou de travaux de recherche en vue de productions audiovisuelles,la réalisation d’études concernant l’histoire ou la sociologie de l’audiovisuel et du cinéma en particulier,ainsi que tout ce qui concerne les domaines artistiques,culturel,ethnologique ou en rapport avec les traditions populaires ;
- 6. La distribution et diffusion de tous les produits audiovisuels ; la représentation d’auteurs et de réalisateurs ainsi que l’acquisition de droits d’auteurs,de films et de tous produits audiovisuels,littéraires,phonographiques,musicaux et,en général,de tout ce qui se rapporte aux activités artistiques sur tous supports existants ou à créer et par tous procédés connus ou qui seront découvert ;
- 7. La perception,la répartition et la gestion de tous droits d’auteur,droits voisins,droits d’édition,ou d’exploitation ;
- 8. L’organisation,la promotion,la production d’évènements musicaux,culturels,artistiques,spectacles,concert et festivals.
- 9. Toutes activités dans le domaine artistique et notamment la fonction d’agent d’artiste et d’ensemble artistique.
- 10. L’acquisition,la vente ou l’échange de tout droit mobilier et de toute valeur mobilière,en ce compris notamment la constitution et la gestion d’un portefeuille de valeurs mobilières pour son compte propre uniquement.
- 11. La constitution et la valorisation d’un patrimoine immobilier,tant en immeubles qu’en droits réels immobiliers,notamment l’achat,la vente,l’échange,la négociation,la transaction,la gestion,le leasing,la location meublée ou non tant en qualité de bailleur que de locataire,le lotissement,l’expertise,la revente,le courtage,la promotion,de tout biens immobiliers et en général de quelque nature,situés en Belgique ou à l'étranger ainsi que la prise de tout financement en lien avec ces opérations.
- 12. La société dispose,d’une manière générale,d’une pleine capacité juridique pour accomplir tous les actes et opérations ayant un rapport direct ou indirect avec son objet ou qui seraient de nature à faciliter directement ou indirectement,entièrement ou partiellement,la réalisation de cet objet.
- La société peut s'intéresser par voie d'association,d'apport,de fusion,d'intervention financière ou autrement dans toutes sociétés,associations ou entreprises dont l'objet est identique,analogue ou connexe au sien ou susceptible de favoriser le développement de son entreprise ou de constituer pour elle une source de débouchés.
- La société peut exercer les fonctions d’administrateur ou de liquidateur dans d’autres sociétés.
- La société peut se porter garant ou fournir des sûretés réelles pour des sociétés ou des personnes privées,au sens le plus large.
- Au cas où la prestation de certains actes serait soumise à des conditions préalables d'accès à la profession,la société subordonnera son action,en ce qui concerne la prestation de ces actes,à la réalisation de ces conditions.
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- PapCom
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Région de Bruxelles-Capitale, simple décision de l’organe d’administration” (deed in French)
Who represents it, and how
- Board ruleHow the board is made up, meets and takes decisions.
- “Article 12, si nommés dans les statuts” (deed in French)“Fixe ou proportionnelle, Article 14” (deed in French)
Capital, shares and profit
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- “Article 11, tenus de solliciter agrément selon mêmes formalités si ne deviennent pas de plein droit actionnaires” (deed in French)
- Share issue ruleHow and by whom new shares can be issued.
- “Organe qui procède à l’émission, apport en numéraire avec émission de nouvelles actions” (deed in French)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- First Monday of March
Oversight and winding up
- Statutory auditorA statutory auditor is a registered auditor who checks the accounts; small companies need not have one. According to the deed, the legal criteria do not require one here.
- No statutory auditor
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Assemblée générale délibérant comme en matière de modification des statuts” (deed in French)“Assemblée générale, formes prévues pour modifications aux statuts” (deed in French)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Dissolution pour quelque cause et à quelque moment, assemblée générale peut désigner un ou plusieurs liquidateurs et déterminer pouvoirs et…” (deed in French)