Summary
Paper@work is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €147,965 and a net result of €36,039. Equity is growing by ~37.1% per year across the filed fiscal years. Its solvency ranks better than 81% of 2460 sector peers (fiscal year 2025). The company has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
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 24-07-2026, 7 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
7 d early
2024
24 d early
2023
61 d early
2022
17 d early
2021
30 d early
2020
32 d early
2019
140 d 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 44 days before the deadline; the sector median for financial year 2024 is 5 days before the deadline, and 38% 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€147,965▼ 16.1%
2024 · €176,450
Net result
€36,039▼ 37.9%
2024 · €58,066
Total assets
€178,188▼ 15.2%
2024 · €210,204
Solvency
83.0%▼ 0.9pp
2024 · 83.9%
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 66, Activities auxiliary to financial services and insurance 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
Operating result€93,867▲ 1.4%€52,708▼ 43.8%€92,166▲ 74.9%€79,827▼ 13.4%€43,333▼ 45.7%
Net result€69,196above the sector's middle half▼ 4.7%€45,383within the sector's middle half▼ 34.4%€65,361within the sector's middle half▲ 44.0%€58,066within the sector's middle half▼ 11.2%€36,039within the sector's middle half▼ 37.9%
Equity€97,355within the sector's middle half▲ 246%€97,355within the sector's middle half=€138,384within the sector's middle half▲ 42.1%€176,450within the sector's middle half▲ 27.5%€147,965within the sector's middle half▼ 16.1%
Total assets€127,514below the sector's middle half▲ 4.3%€183,269within the sector's middle half▲ 43.7%€222,925within the sector's middle half▲ 21.6%€210,204within the sector's middle half▼ 5.7%€178,188within the sector's middle half▼ 15.2%
Debt€30,160▼ 67.9%€85,914▲ 185%€84,542▼ 1.6%€33,754▼ 60.1%€30,223▼ 10.5%
Working capital€85,600▲ 419%€84,993▼ 0.7%€119,004▲ 40.0%€150,111▲ 26.1%€124,340▼ 17.2%
Solvency76.3%above the sector's middle half▲ 53.3pp53.1%within the sector's middle half▼ 23.2pp62.1%within the sector's middle half▲ 9.0pp83.9%above the sector's middle half▲ 21.9pp83.0%above the sector's middle half▼ 0.9pp
Staff (FTE)1.9▲ 90.0%1▼ 47.4%1=
above
within
below
the middle half (P25 to P75) of NACE 66, Activities auxiliary to financial services and insurance 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 has fallen two years in a row; 2025 is 46% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €178,188
Fixed assets
€25,391 ▼ 21.3%
Current assets
€152,797 ▼ 14.1%
Equity and liabilities €178,188
Equity
€147,965 ▼ 16.1%
Debt
€30,223 ▼ 10.5%
Debt's share of the balance-sheet total rises from 16.1% to 17.0%. Equity and debt are lower.
Key figures and ratios
ROE
24.4%▼
2024 · 32.9%
ROA
20.2%▼
2024 · 27.6%
Debt ≤ 1 year
€28,457▲
2024 · €27,826
Debt > 1 year
€1,766▼
2024 · €5,928
Income taxes
€14,045▼
2024 · €24,302
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €14,000 | €0 | €353 | - | - | - |
| Remuneration, social security and pensions62 | €93,965 | €28,603 | €17,275 | €17 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,627 | €3,871 | €4,977 | €7,424 | €6,876 | ▼ 7.4% |
| Other operating charges640/8 | €1,545 | €1,345 | €987 | €2,196 | €2,246 | ▲ 2.3% |
| Gross operating margin9900 | €193,004 | €86,527 | €115,406 | €89,464 | €52,455 | ▼ 41.4% |
| Operating profit (loss)9901 | €93,867 | €52,708 | €92,166 | €79,827 | €43,333 | ▼ 45.7% |
| Financial income75/76B | €2,015 | €6,808 | €2,503 | €6,448 | €7,629 | ▲ 18.3% |
| Recurring financial income75 | €2,015 | €6,808 | €2,503 | €6,448 | €7,629 | ▲ 18.3% |
| Financial charges65/66B | €476 | €2,359 | €1,949 | €3,907 | €880 | ▼ 77.5% |
| Recurring financial charges65 | €476 | €2,359 | €1,949 | €3,907 | €880 | ▼ 77.5% |
| Profit (loss) for the period before taxes9903 | €95,406 | €57,157 | €92,720 | €82,368 | €50,083 | ▼ 39.2% |
| Income taxes67/77 | €26,210 | €11,773 | €27,360 | €24,302 | €14,045 | ▼ 42.2% |
| Profit (loss) for the period9904 | €69,196 | €45,383 | €65,361 | €58,066 | €36,039 | ▼ 37.9% |
| Profit (loss) for the period to be appropriated9905 | €69,196 | €45,383 | €65,361 | €58,066 | €36,039 | ▼ 37.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €127,514 | €183,269 | €222,925 | €210,204 | €178,188 | ▼ 15.2% |
| Fixed assets21/28 | €11,794 | €26,302 | €29,365 | €32,266 | €25,391 | ▼ 21.3% |
| Tangible fixed assets22/27 | €11,654 | €26,162 | €29,225 | €32,266 | €25,391 | ▼ 21.3% |
| Plant, machinery and equipment23 | €3,835 | €1,618 | €381 | - | - | - |
| Furniture and vehicles24 | €7,819 | €14,098 | €16,893 | €17,016 | €11,842 | ▼ 30.4% |
| Other tangible fixed assets26 | - | €10,446 | €11,952 | €15,250 | €13,549 | ▼ 11.2% |
| Financial fixed assets28 | €140 | €140 | €140 | - | - | - |
| Current assets29/58 | €115,720 | €156,967 | €193,560 | €177,937 | €152,797 | ▼ 14.1% |
| Amounts receivable within one year40/41 | €35,524 | €125,728 | €130,889 | €121,105 | €114,988 | ▼ 5.1% |
| Trade receivables40 | €19,248 | €1,032 | €19,203 | €11,714 | €3,913 | ▼ 66.6% |
| Other amounts receivable41 | €16,276 | €124,696 | €111,686 | €109,391 | €111,074 | ▲ 1.5% |
| Current investments50/53 | €9,614 | €1,638 | €678 | €27,481 | €17,648 | ▼ 35.8% |
| Cash at bank and in hand54/58 | €65,481 | €25,423 | €58,097 | €24,322 | €16,386 | ▼ 32.6% |
| Deferred charges and accrued income490/1 | €5,101 | €4,178 | €3,897 | €5,030 | €3,776 | ▼ 24.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €127,514 | €183,269 | €222,925 | €210,204 | €178,188 | ▼ 15.2% |
| Equity10/15 | €97,355 | €97,355 | €138,384 | €176,450 | €147,965 | ▼ 16.1% |
| Contributions10/11 | €18,600 | €18,600 | €0 | - | - | - |
| Reserves13 | €78,755 | €78,755 | €138,384 | €176,450 | €147,965 | ▼ 16.1% |
| Non-distributable reserves130/1 | €0 | - | - | - | - | - |
| Reserves not available under the articles1311 | €0 | - | - | - | - | - |
| Distributable reserves133 | €78,755 | €78,755 | €138,384 | €176,450 | €147,965 | ▼ 16.1% |
| Profit (loss) carried forward14 | €0 | €0 | €0 | - | - | - |
| Amounts payable17/49 | €30,160 | €85,914 | €84,542 | €33,754 | €30,223 | ▼ 10.5% |
| Amounts payable after more than one year17 | - | €13,940 | €9,986 | €5,928 | €1,766 | ▼ 70.2% |
| Financial debts170/4 | - | €13,940 | €9,986 | €5,928 | €1,766 | ▼ 70.2% |
| Amounts payable within one year42/48 | €30,121 | €71,974 | €74,556 | €27,826 | €28,457 | ▲ 2.3% |
| Current portion of amounts payable after more than one year42 | - | €3,856 | €3,955 | €4,058 | €4,162 | ▲ 2.6% |
| Financial debts43 | €0 | - | - | - | - | - |
| Credit institutions430/8 | €0 | - | - | - | - | - |
| Trade debts44 | €1,704 | €2,698 | €17,015 | €2,648 | €3,055 | ▲ 15.4% |
| Suppliers440/4 | €1,704 | €2,698 | €17,015 | €2,648 | €3,055 | ▲ 15.4% |
| Taxes, remuneration and social security45 | €28,417 | €20,035 | €20,441 | €21,120 | €21,240 | ▲ 0.6% |
| Taxes450/3 | €22,305 | €16,435 | €20,441 | €21,120 | €21,240 | ▲ 0.6% |
| Remuneration and social security454/9 | €6,111 | €3,601 | €0 | - | - | - |
| Other amounts payable47/48 | €0 | €45,383 | €33,146 | - | - | - |
| Accrued charges and deferred income492/3 | €39 | €0 | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €69,196 | €45,383 | €65,361 | €58,066 | €36,039 | ▼ 37.9% |
| + Depreciation and write-downs630 | €3,627 | €3,871 | €4,977 | €7,424 | €6,876 | ▼ 7.4% |
| Operating cash flow (approximation) | €72,822 | €49,254 | €70,338 | €65,490 | €42,914 | ▼ 34.5% |
| Investment in fixed assets (approximation) | - | -€18,378 | -€8,041 | -€10,325 | €0 | ▲ 100% |
| Change in cash | - | -€40,058 | €32,674 | -€33,775 | -€7,935 | ▲ 76.5% |
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
24-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
07-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Liquidity doublescurrent ratio 6.39
Current ratio from 2.60 to 6.39; short-term debt falls from €74,556 to €27,826.
31-12
Financial
Equity above €150,000Eq €176,450 ▲27.5%
7 profitable years in a row build equity to €176,450.
31-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Equity above €100,000Eq €138,384 ▲42.1%
6 profitable years in a row build equity to €138,384.
14-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
01-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Liquidity triplescurrent ratio 3.84
Current ratio from 1.18 to 3.84; short-term debt falls from €94,101 to €30,121.
29-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Highest result since 2018net €72,623 ▲145%
Net result €72,623, the highest in the series.
13-03
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Show earlier events
2019
31-01
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
20-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
20-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Beveren-Kruibeke-Zwijndrecht · 1 establishment unit since 2006
Ground area
852 m²
Building footprint
304 m²
Volume, LiDAR
1,300 m³
Parcel 46016C1221/00C000, Flanders · tallest building 8.3 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Paper@work
since 20062.151.499.689
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46016C1221/00C000 | Flanders | 852 m² | 1 · 304 m² | 8.2 m · 1 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.
Public money · subsidies and aid
Flemish government
2023 · 1 entry · 136 EUR awarded · 136 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 136 EUR | 136 EUR |
Recognitions · licences · registrations
Legal Entity Identifier
699400APZRDYGLHDQA83
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Of 1,507 companies in sector 66199 we hold annual accounts for 921. 641 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
Founded17-01-2006
Fiscal year end31-12
Activities, NACEBEL 2025
66199Other activities auxiliary to financial services, excluding insurance and pension funding
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0878677468
Also
9925:BE0878677468
Registered
30-01-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.