Paper Cloud
ActiveSummary
Paper Cloud has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2026 annual accounts show equity of €268,247 and a net result of €99,107. Equity is growing by ~34.7% per year across the filed fiscal years. Its solvency ranks better than 49% of 162 sector peers (fiscal year 2026). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2026
Axes · tick = 2025
Profitability99▲+4
Solvency90▲+7
Growth78=
Track record94
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €22,000 at 30 days acceptable
Liquidity ample (current ratio 3.56 against 3.43 in 2025; short-term debt: 27.5% and cash: 1.2% of total assets), and 34.9% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 69
Relative position
BE, all sectors
reference
Legal and accounting activities (NACE 69)
about 77% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2026Solvency, return and age of the figures
Solvency
65.1%
Return on assets
24.1%
Age of the figures
6 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2026 was due by 31-10-2026 and was filed on 21-09-2026, 40 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2026
40 d early
2025
8 d early
2024
2 d early
2023
5 d early
2022
2 d late
2021
3 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 9 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2027 and is due by 31-10-2027. Nothing is late today. Usually files around 26 October (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-03-2027 close31-10-2027 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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Financials · fiscal year 2026, micro schema
Equity
€268,247▲ 38.2%
2025 · €194,139
Total assets
€411,876▲ 23.1%
2025 · €334,490
Net result
€99,107▲ 38.8%
2025 · €71,402
Working capital
€290,448▲ 30.9%
2025 · €221,898
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 69, Legal and accounting 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
Line20222023202420252026
Operating result€70,985▲ 52.8%€81,870▲ 15.3%-€2,393€90,360€121,661▲ 34.6%
Net result€52,714within the sector's middle half▲ 43.8%€63,267within the sector's middle half▲ 20.0%-€7,403below the sector's middle half€71,402within the sector's middle half€99,107▲ 38.8%
Equity€91,873within the sector's middle half▲ 135%€155,140within the sector's middle half▲ 68.9%€147,738within the sector's middle half▼ 4.8%€194,139within the sector's middle half▲ 31.4%€268,247▲ 38.2%
Total assets€132,558within the sector's middle half▲ 123%€220,539within the sector's middle half▲ 66.4%€272,621within the sector's middle half▲ 23.6%€334,490within the sector's middle half▲ 22.7%€411,876▲ 23.1%
Debt€40,685▲ 101%€65,398▲ 60.7%€124,883▲ 91.0%€140,351▲ 12.4%€143,629▲ 2.3%
Working capital€78,656within the sector's middle half▲ 101%€122,729within the sector's middle half▲ 56.0%€185,315above the sector's middle half▲ 51.0%€221,898above the sector's middle half▲ 19.7%€290,448▲ 30.9%
Solvency69.3%within the sector's middle half▲ 3.4pp70.3%within the sector's middle half▲ 1.0pp54.2%within the sector's middle half▼ 16.2pp58.0%within the sector's middle half▲ 3.8pp65.1%▲ 7.1pp
Current ratio5.00above the sector's middle half▲ 2.063.42within the sector's middle half▼ 1.584.48within the sector's middle half▲ 1.063.43within the sector's middle half▼ 1.063.56▲ 0.14
Return on assets (ROA)39.8%above the sector's middle half▼ 22.0pp28.7%within the sector's middle half▼ 11.1pp-2.7%below the sector's middle half▼ 31.4pp21.3%within the sector's middle half▲ 24.1pp24.1%▲ 2.7pp
above
within
below
the middle half (P25 to P75) of NACE 69, Legal and accounting 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
After the dip in 2024 the operating result has climbed two years in a row; 2026 is 35% above 2025 and is the highest result in the available series.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €411,876
Fixed assets
€8,167 ▼ 61.3%
Current assets
€403,709 ▲ 28.8%
Equity and liabilities €411,876
Equity
€268,247 ▲ 38.2%
Debt
€143,629 ▲ 2.3%
Debt's share of the balance-sheet total falls from 42.0% to 34.9%. Equity and debt are higher.
Key figures and ratios
EBITDA
€134,619▲
2025 · €103,317
Cash flow
€112,065▲
2025 · €84,359
Debt to equity
0.54▼
2025 · 0.72
ROE
36.9%▲
2025 · 36.8%
Interest coverage
27.32▲
2025 · 14.72
Debt ≤ 1 year
€113,261▲
2025 · €91,467
Debt > 1 year
€30,213▼
2025 · €48,883
Income taxes
€24,547▲
2025 · €17,348
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,970 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.5%
went bankrupt
3.4%
stopped otherwise
95%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% 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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 26,970 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 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,536 | €11,213 | €12,958 | €12,958 | €12,958 | = |
| Other operating charges640/8 | €820 | €450 | €589 | €708 | €903 | ▲ 27.6% |
| Gross operating margin9900 | €78,341 | €93,532 | €11,153 | €104,025 | €135,522 | ▲ 30.3% |
| Operating profit (loss)9901 | €70,985 | €81,870 | -€2,393 | €90,360 | €121,661 | ▲ 34.6% |
| Financial income75/76B | €1,700 | €3,200 | €3,950 | €5,410 | €6,920 | ▲ 27.9% |
| Recurring financial income75 | €1,700 | €3,200 | €3,950 | €5,410 | €6,920 | ▲ 27.9% |
| Financial charges65/66B | €1,310 | €2,119 | €6,308 | €7,020 | €4,927 | ▼ 29.8% |
| Recurring financial charges65 | €1,310 | €2,119 | €6,308 | €7,020 | €4,927 | ▼ 29.8% |
| Profit (loss) for the period before taxes9903 | €71,375 | €82,950 | -€4,751 | €88,750 | €123,654 | ▲ 39.3% |
| Income taxes67/77 | €18,661 | €19,683 | €2,652 | €17,348 | €24,547 | ▲ 41.5% |
| Profit (loss) for the period9904 | €52,714 | €63,267 | -€7,403 | €71,402 | €99,107 | ▲ 38.8% |
| Profit (loss) for the period to be appropriated9905 | €52,714 | €63,267 | -€7,403 | €71,402 | €99,107 | ▲ 38.8% |
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €132,558 | €220,539 | €272,621 | €334,490 | €411,876 | ▲ 23.1% |
| Fixed assets21/28 | €34,229 | €47,040 | €34,082 | €21,124 | €8,167 | ▼ 61.3% |
| Tangible fixed assets22/27 | €34,229 | €47,040 | €34,082 | €21,124 | €8,167 | ▼ 61.3% |
| Furniture and vehicles24 | €30,065 | €22,788 | €15,511 | €8,234 | €957 | ▼ 88.4% |
| Leasing and similar rights25 | - | - | €18,571 | - | - | - |
| Other tangible fixed assets26 | €4,164 | €24,252 | - | €12,890 | €7,210 | ▼ 44.1% |
| Current assets29/58 | €98,329 | €173,499 | €238,539 | €313,366 | €403,709 | ▲ 28.8% |
| Amounts receivable after more than one year29 | €85,000 | €160,000 | €235,000 | €307,000 | €395,000 | ▲ 28.7% |
| Other amounts receivable291 | €85,000 | €160,000 | €235,000 | €307,000 | €395,000 | ▲ 28.7% |
| Amounts receivable within one year40/41 | €1,339 | €1,369 | €1,369 | €1,390 | €1,390 | = |
| Trade receivables40 | - | €1,369 | €1,369 | €1,390 | €1,390 | = |
| Other amounts receivable41 | €1,339 | - | - | - | - | - |
| Cash at bank and in hand54/58 | €11,867 | €12,130 | €2,170 | €4,975 | €5,068 | ▲ 1.9% |
| Deferred charges and accrued income490/1 | €123 | - | - | - | €2,250 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €132,558 | €220,539 | €272,621 | €334,490 | €411,876 | ▲ 23.1% |
| Equity10/15 | €91,873 | €155,140 | €147,738 | €194,139 | €268,247 | ▲ 38.2% |
| Contributions10/11 | €2,500 | €2,500 | €2,500 | €2,500 | €2,500 | = |
| Outside capital11 | €2,500 | - | - | - | - | - |
| Other1109/19 | €2,500 | - | - | - | - | - |
| Profit (loss) carried forward14 | €89,373 | €152,640 | €145,238 | €191,639 | €265,747 | ▲ 38.7% |
| Amounts payable17/49 | €40,685 | €65,398 | €124,883 | €140,351 | €143,629 | ▲ 2.3% |
| Amounts payable after more than one year17 | €21,012 | €14,628 | €71,659 | €48,883 | €30,213 | ▼ 38.2% |
| Financial debts170/4 | €21,012 | €14,628 | €71,659 | €48,883 | €30,213 | ▼ 38.2% |
| Amounts payable within one year42/48 | €19,673 | €50,771 | €53,224 | €91,467 | €113,261 | ▲ 23.8% |
| Current portion of amounts payable after more than one year42 | €6,314 | €26,384 | €21,960 | €22,227 | €18,123 | ▼ 18.5% |
| Trade debts44 | €2,188 | €13,851 | €13,648 | €16,063 | €33,381 | ▲ 108% |
| Suppliers440/4 | €2,188 | €13,851 | €13,648 | €16,063 | €33,381 | ▲ 108% |
| Taxes, remuneration and social security45 | €7,398 | €10,350 | €14,741 | €27,496 | €34,502 | ▲ 25.5% |
| Taxes450/3 | €7,398 | €10,350 | €14,741 | €27,496 | €34,502 | ▲ 25.5% |
| Other amounts payable47/48 | €3,774 | €186 | €2,876 | €25,681 | €27,254 | ▲ 6.1% |
| Accrued charges and deferred income492/3 | - | - | - | - | €156 | - |
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €52,714 | €63,267 | -€7,403 | €71,402 | €99,107 | ▲ 38.8% |
| + Depreciation and write-downs630 | €6,536 | €11,213 | €12,958 | €12,958 | €12,958 | = |
| Operating cash flow (approximation) | €59,250 | €74,480 | €5,555 | €84,359 | €112,065 | ▲ 32.8% |
| Investment in fixed assets (approximation) | - | -€24,023 | €0 | €0 | €0 | - |
| Change in cash | - | €263 | -€9,960 | €2,806 | €93 | ▼ 96.7% |
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 2027, expected by
2026
21-09
NBB filing
Annual accounts filed
fiscal year 2026 · micro schema
31-03
Financial
Highest result since 2021net €99,107 ▲38.8%
Operating result €121,661, net result €99,107, both a record.
31-03
Financial
Equity above €200,000Eq €268,247 ▲38.2%
2 profitable years in a row build equity to €268,247.
2025
23-10
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
31-03
Financial
Back to profitnet €71,402
Net result €71,402 after one loss-making year.
31-03
Financial
Equity above €150,000Eq €194,139 ▲31.4%
Equity rises from €147,738 to €194,139.
2024
29-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
31-03
Financial
Weakest financial yearnet -€7,403
Net result drops to -€7,403, the lowest in the series; recovery starts the following year.
2023
26-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
31-03
Financial
Equity above €150,000Eq €155,140 ▲68.9%
3 profitable years in a row build equity to €155,140.
2022
02-11
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 2 days late
2021
28-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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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, Antwerpen · 1 establishment unit since 2020
Ground area
149 m²
Building footprint
123 m²
Volume, LiDAR
2,168 m³
Parcel 11810K1552/00H008, Flanders · tallest building 25.7 m, ±6 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Paper Cloud
since 20202.307.729.770
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11810K1552/00H008 | Flanders | 149 m² | 1 · 123 m² | 25.7 m · 6 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.
Similar companies · same sector, comparable size
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Véronique ELIAS - Cabinet d'Avocats
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Advocatenkantoor Neel Devrindt
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Of 22,076 companies in sector 69101 we hold annual accounts for 9,061. 6,905 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded28-09-2020
Fiscal year end31-03
Activities, NACEBEL 2025
69101Activities of lawyers
E-invoicing
Reachable via Peppol
Peppol ID
0208:0754957928
Also
9925:BE0754957928
Registered
10-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.