Papen Solutions
ActiveThe computed 12-month bankruptcy probability of Papen Solutions is 2.8% (moderate). The 2025 annual accounts show equity of €22k and a net result of €-13k. Equity is shrinking by ~7.2% per year across the filed fiscal years. Its solvency ranks better than 67% of 27711 sector peers (fiscal year 2025). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
47
/ 100
Fair
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0▼-95
Solvency87▼-9
Growth32▼-20
Track record94
Bankruptcy probability, 12 months
2.8%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €1k at 30 days acceptable
Liquidity ample (current ratio 2.34 against 3.3 in 2024; short-term debt: 37.7% and cash: 26.9% of total assets), and 37.7% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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 43
Relative position
BE, all sectors
reference
Sector 43
higher
← 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
62.3%
Return on assets
-37.4%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 10-08-2026, 10 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 · 4 filingsDeviation from the deadline
2025
10 d late
2024
54 d early
2023
22 d late
2022
21 d early
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
21-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€22k▼ 45.3%
2024 · €41k
2022: €31k
2023: €29k
2024: €41k
2022 → 2025
Total assets
€36k▼ 38.0%
2024 · €58k
2022: €45k
2023: €42k
2024: €58k
2022 → 2025
Net result
€-13k
2024 · €12k
2022: €26k
2023: €995
2024: €12k
2022 → 2025
Working capital
€18k▼ 53.5%
2024 · €39k
2022: €31k
2023: €27k
2024: €39k
2022 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2022202320242025Trend
Equity€31k-€29k▼ 5.1%€41k▲ 41.2%€22k▼ 45.3%
Operating result€34k-€2k▼ 93.8%€12k▲ 475%€-12k
Net result€26k-€995▼ 96.1%€12k▲ 1,106%€-13k
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 €12k after €12k in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €36k
Fixed assets
€4k▲ 120%
Current assets
€32k▼ 43.4%
Equity and liabilities €36k
Equity
€22k▼ 45.3%
Debt
€14k▼ 20.2%
The debt ratio rises from 29.3% to 37.7%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-12k▼
2024 · €13k
Cash flow
€-13k▼
2024 · €13k
Solvency
62.3%▼
2024 · 70.7%
Current ratio
2.34▼
2024 · 3.30
Quick ratio
2.32▼
2024 · 3.30
Debt / equity
0.60▲
2024 · 0.41
ROE
-60.0%▼
2024 · 29.2%
ROA
-37.4%▼
2024 · 20.6%
Interest coverage
-11.33▼
2024 · 127.48
Debt
€14k▼
2024 · €17k
Debt ≤ 1 year
€14k▼
2024 · €17k
Staff costs
€799▲
2024 · €666
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 · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€58k€36k▼
Fixed assets21/28€2k€4k▲
Tangible fixed assets22/27€2k€4k▲
Land and buildings22-€1k
Plant, machinery and equipment23-€2k
Furniture and vehicles24€2k€1k▼
Current assets29/58€56k€32k▼
Stocks and contracts in progress3-€205
Contracts in progress37-€205
Amounts receivable within one year40/41€54k€22k▼
Trade receivables40€46k€15k▼
Other amounts receivable41€8k€7k▼
Cash at bank and in hand54/58€2k€10k▲
Equity and liabilities
Total equity and liabilities10/49€58k€36k▼
Equity10/15€41k€22k▼
Contributions10/11€5k€5k=
Profit (loss) carried forward14€36k€17k▼
Amounts payable17/49€17k€14k▼
Amounts payable within one year42/48€17k€14k▼
Trade debts44€9k-
Suppliers440/4€9k-
Taxes, remuneration and social security45€4k€6k▲
Taxes450/3€1k€5k▲
Remuneration and social security454/9€3k€1k▼
Other amounts payable47/48€4k€8k▲
Income statement
Code20242025
Non-recurring operating income76A€12k-
Remuneration, social security and pensions62€666€799▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€527€633▲
Other operating charges640/8€269€20k▲
Gross operating margin9900€14k€9k▼
Operating profit (loss)9901€12k€-12k▼
Financial income75/76B€5-
Recurring financial income75€5-
Financial charges65/66B€99€1k▲
Recurring financial charges65€99€1k▲
Profit (loss) for the period before taxes9903€12k€-13k▼
Profit (loss) for the period9904€12k€-13k▼
Profit (loss) for the period to be appropriated9905€12k€-13k▼
Appropriation of the result
Profit (loss) to be appropriated9906€36k€17k▼
Profit (loss) brought forward from the previous period14P€24k€31k▲
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
10-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 10 days late
2025
31-12
Financial
Weakest financial yearnet €-13k ▼212%
Net result drops to €-13k, the lowest in the series.
07-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
22-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 22 days late
2023
10-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
1 act for this company is 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, Wommelgem · 1 establishment unit since 2021
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.
Oelegemsteenweg 1022160 WommelgemGround area
769 m²
Building footprint
165 m²
Volume, LiDAR
584 m³
Parcel 11052B0347/00S000, Flanders · tallest building 8.2 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Papen Solutions
since 20212.317.581.309
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11052B0347/00S000 | Flanders | 769 m² | 1 · 165 m² | 8.2 m · 1 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2024 · 1 entry · 995 EUR awarded · 607 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 995 EUR | 607 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 4,270 companies in sector 43230 we hold annual accounts for 1,240. 890 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded02-04-2021
Fiscal year end31-12
Activities, NACEBEL
43230Insulation installation
43291Specialised construction activities
43221Plumbing work
Sources
Crossroads Bank for EnterprisesNational Bank · 4 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.