PAPI
Bankruptcy closedInactive since 17-07-2026; last annual accounts for fiscal year 2022.
Summary
PAPI was declared bankrupt on 26-05-2025 (Tribunal de l’entreprise francophone de Bruxelles); the bankruptcy was closed for insufficient assets by judgment of 30-06-2026, published in the Belgian State Gazette on 22-07-2026.
Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
neutral · Filed after the deadline
The financial year that closed on 31-12-2022 was due by 31-07-2023 and was filed on 29-09-2023, 60 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 · 6 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
60 d late
2021
23 d late
2020
36 d early
2019
45 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 4 accounts on average 1 day after the deadline; the sector median for financial year 2024 is on the deadline day, and 47% of the sector filed late.
Checked, nothing found (1)
History
Go further with this company
Still owed money by this company? Its procedure, who runs it and what to do now.Creditor guide Who ran this company, and where was it based, on a date before the end?Company as of a date Is the registered address a letterbox address or a business centre?Addresses Are there other customers at risk in your own list?List enrichment How is the General maintenance and repair of cars and light vans (up to 3.5 tonnes) sector doing?Sector figures
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2022, micro schema
Turnover
€29,658▼ 4.6%
2019 · €31,091
EBIT margin
-10.0%▲ 6.2pp
2019 · -16.1%
Net result
€1,770
2021 · -€18,606
Working capital
-€14,090▲ 13.5%
2021 · -€16,283
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 95, Repair and maintenance of computers, personal and household goods, and motor vehicles and motorcycles, 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
Line20182019202020212022
Turnover€32,107-€31,091▼ 3.2%€29,658▼ 4.6%
Operating result€643--€5,015-€2,958▲ 41.0%-€18,098▼ 512%€2,531
Net result€652--€5,218€691within the sector's middle half-€18,606below the sector's middle half€1,770within the sector's middle half
EBIT margin2.0%--16.1%▼ 18.1pp-10.0%▲ 6.2pp
Equity€7,976-€2,758▼ 65.4%€10,378below the sector's middle half▲ 276%-€8,228below the sector's middle half-€6,458below the sector's middle half▲ 21.5%
Total assets€10,282-€4,929▼ 52.1%€12,273below the sector's middle half▲ 149%€13,735below the sector's middle half▲ 11.9%€14,641below the sector's middle half▲ 6.6%
Debt€2,306-€2,171▼ 5.9%€1,895▼ 12.7%€21,963▲ 1,059%€21,099▼ 3.9%
Working capital€3,318--€1,673€6,174-€16,283-€14,090▲ 13.5%
Solvency77.6%-84.6%above the sector's middle half-59.9%below the sector's middle half▼ 144.5pp-44.1%below the sector's middle half▲ 15.8pp
above
within
below
the middle half (P25 to P75) of NACE 95, Repair and maintenance of computers, personal and household goods, and motor vehicles and motorcycles, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2022: €2,531 after a loss of €18,098 in 2021, the highest result in the available series.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €14,641
Fixed assets
€7,632 ▼ 5.3%
Current assets
€7,009 ▲ 23.4%
Key figures and ratios
EBITDA
€2,955▲
2021 · -€17,612
Cash flow
€2,193▲
2021 · -€18,121
Current ratio
0.33▲
2021 · 0.26
Quick ratio
0.21▼
2021 · 0.26
Debt to equity
-3.27▼
2021 · -2.67
ROA
12.1%▲
2021 · -135.5%
Interest coverage
3.82▲
2021 · -27.56
Debt ≤ 1 year
€21,099▼
2021 · €21,963
Staff costs
€11,737▲
2021 · €11,478
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €32,107 | €31,091 | €29,658 | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €11,478 | €11,737 | ▲ 2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €226 | €526 | €226 | €486 | €424 | ▼ 12.8% |
| Other operating charges640/8 | - | - | - | €2,205 | €1,796 | ▼ 18.6% |
| Gross operating margin9900 | €1,628 | -€3,978 | -€1,981 | -€3,929 | €16,487 | ▲ 520% |
| Operating profit (loss)9901 | €643 | -€5,015 | -€2,958 | -€18,098 | €2,531 | ▲ 114% |
| Financial income75/76B | - | - | - | €130 | €12 | ▼ 90.6% |
| Recurring financial income75 | - | - | - | €130 | €12 | ▼ 90.6% |
| Non-recurring financial income76B | - | - | - | €130 | €0 | ▼ 100% |
| Financial charges65/66B | - | - | - | €639 | €773 | ▲ 21.0% |
| Recurring financial charges65 | €299 | €202 | €352 | €639 | €773 | ▲ 21.0% |
| Profit (loss) for the period before taxes9903 | €652 | -€5,218 | €691 | -€18,606 | €1,770 | ▲ 110% |
| Profit (loss) for the period9904 | €652 | -€5,218 | €691 | -€18,606 | €1,770 | ▲ 110% |
| Profit (loss) for the period to be appropriated9905 | €652 | -€5,218 | €691 | -€18,606 | €1,770 | ▲ 110% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €10,282 | €4,929 | €12,273 | €13,735 | €14,641 | ▲ 6.6% |
| Formation expenses20 | €679 | €453 | €226 | - | - | - |
| Fixed assets21/28 | €3,978 | €3,978 | €3,978 | €8,056 | €7,632 | ▼ 5.3% |
| Tangible fixed assets22/27 | - | - | - | €3,978 | €3,554 | ▼ 10.7% |
| Other tangible fixed assets26 | - | - | - | €3,978 | €3,554 | ▼ 10.7% |
| Financial fixed assets28 | €3,978 | €3,978 | €3,978 | €4,078 | €4,078 | = |
| Current assets29/58 | €5,624 | €498 | €8,069 | €5,680 | €7,009 | ▲ 23.4% |
| Stocks and contracts in progress3 | - | - | - | - | €2,600 | - |
| Stocks30/36 | - | - | - | - | €2,600 | - |
| Amounts receivable within one year40/41 | €467 | €221 | - | €1,476 | €2,756 | ▲ 86.7% |
| Trade receivables40 | - | - | - | €1,476 | €880 | ▼ 40.4% |
| Other amounts receivable41 | - | - | - | - | €1,876 | - |
| Cash at bank and in hand54/58 | €5,157 | - | €7,658 | €4,203 | €1,653 | ▼ 60.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €10,282 | €4,929 | €12,273 | €13,735 | €14,641 | ▲ 6.6% |
| Equity10/15 | €7,976 | €2,758 | €10,378 | -€8,228 | -€6,458 | ▲ 21.5% |
| Contributions10/11 | €11,670 | €11,670 | €18,600 | €18,600 | €18,600 | = |
| Outside capital11 | - | - | - | €18,600 | - | - |
| Other1109/19 | - | - | - | €18,600 | - | - |
| Profit (loss) carried forward14 | -€3,694 | -€8,912 | -€8,222 | -€26,828 | -€25,058 | ▲ 6.6% |
| Amounts payable17/49 | €2,306 | €2,171 | €1,895 | €21,963 | €21,099 | ▼ 3.9% |
| Amounts payable within one year42/48 | €2,306 | €2,171 | €1,895 | €21,963 | €21,099 | ▼ 3.9% |
| Financial debts43 | - | - | - | - | €89 | - |
| Credit institutions430/8 | - | - | - | - | €89 | - |
| Trade debts44 | €730 | €583 | €868 | €1,941 | €3,989 | ▲ 106% |
| Suppliers440/4 | - | - | - | €1,941 | €3,989 | ▲ 106% |
| Taxes, remuneration and social security45 | - | - | - | €10,022 | €7,399 | ▼ 26.2% |
| Taxes450/3 | - | - | - | €3,148 | €5,702 | ▲ 81.1% |
| Remuneration and social security454/9 | - | - | - | €6,874 | €1,696 | ▼ 75.3% |
| Other amounts payable47/48 | - | - | - | €10,000 | €9,622 | ▼ 3.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €652 | -€5,218 | €691 | -€18,606 | €1,770 | ▲ 110% |
| + Depreciation and write-downs630 | €226 | €526 | €226 | €486 | €424 | ▼ 12.8% |
| Operating cash flow (approximation) | €879 | -€4,691 | €917 | -€18,121 | €2,193 | ▲ 112% |
| Investment in fixed assets (approximation) | - | -€526 | -€226 | -€4,563 | €0 | ▲ 100% |
| Change in cash | - | - | - | -€3,455 | -€2,550 | ▲ 26.2% |
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
2026
22-07
Bankruptcy
Bankruptcy closure (insufficient assets)
Tribunal de l’entreprise francophone de Bruxelles · event 30-06-2026
2025
06-06
Bankruptcy
Opening
Tribunal de l’entreprise francophone de Bruxelles · event 26-05-2025
2023
29-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 60 days late
2022
31-12
Financial
Back to profitnet €1,770
Net result €1,770 after one loss-making year.
23-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 23 days late
2021
31-12
Financial
Weakest financial yearnet -€18,606
Net result drops to -€18,606, the lowest in the series.
25-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Back to profitnet €691
Net result €691 after one loss-making year.
31-12
Financial
Liquidity times 19current ratio 4.26
Current ratio from 0.23 to 4.26; short-term debt falls from €2,171 to €1,895.
16-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
30-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
07-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Elsene
Ground area
1,854 m²
Building footprint
456 m²
Volume, LiDAR
2,178 m³
Parcel 21442A0069/02H007, Brussels · tallest building 22.9 m, ±1 floor. Linked by address, not a title deed.
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21442A0069/02H007 | Brussels | 1,854 m² | 1 · 455 m² | 22.9 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.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | Lise HEILPORN CHAUSSEE DE LA HULPE 150,
1170 WATERMAEL-BOITSFORT |
26-05-2025 → 30-06-2026 |
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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 7,378 companies in sector 95311 we hold annual accounts for 2,961. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded26-05-2016
Fiscal year end31-12
Activities, NACEBEL 2025
95311General maintenance and repair of cars and light vans (up to 3.5 tonnes)
E-invoicing
Not found in the Peppol register
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.