PAPIER HOVA
ActivePAPIER HOVA has been active since 2000 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.83M and a net result of €218k. Equity is growing by ~9.9% per year across the filed fiscal years. Its solvency ranks better than 65% of 71 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
100
/ 100
Excellent▲ +6 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability60▲+29
Solvency99▲+1
Growth78=
Stability100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €180k at 30 days acceptable
Liquidity ample (current ratio 3.9 against 3.12 in 2024), and 39.3% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 17
Relative position
BE, all sectors
reference
Sector 17
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
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 2025Solvency, return and age of the figures
Solvency
60.7%
Return on assets
7.2%
Age of the figures
8 mo
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 30-06-2026, 31 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
31 d early
2024
29 d late
2023
5 d early
2023
34 d early
2022
7 d early
2021
on the day
2020
2 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
15-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€218k▲ 105%
2024 · €106k
2019: €32k
2020: €12k
2021: €344k
2022: €171k
2023: €152k
2023: €857
2024: €106k
2019 → 2025
Working capital
€1.49M▲ 15.1%
2024 · €1.29M
2019: €279k
2020: €334k
2021: €824k
2022: €1.01M
2023: €1.26M
2023: €1.38M
2024: €1.29M
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20222023202320242025Trend
Equity€1.53M-€1.68M▲ 9.9%€1.68M▲ 0.1%€1.71M▲ 1.6%€1.83M▲ 6.9%
Operating result€212k-€168k▼ 20.9%€5k▼ 96.9%€127k▲ 2,364%€297k▲ 134%
Net result€171k-€152k▼ 11.4%€857▼ 99.4%€106k▲ 12,300%€218k▲ 105%
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 134% above 2024 and is the highest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.01M
Fixed assets
€1.01M▲ 5.4%
Current assets
€2.00M▲ 5.3%
Equity and liabilities €3.01M
Equity
€1.83M▲ 6.9%
Debt
€1.18M▲ 2.9%
The debt ratio falls from 40.2% to 39.3%: equity grows faster than debt.
Key figures and ratios
EBITDA
€551k▲
2024 · €373k
Cash flow
€472k▲
2024 · €352k
Solvency
60.7%▲
2024 · 59.8%
Current ratio
3.90▲
2024 · 3.12
Quick ratio
2.28▲
2024 · 1.75
Debt / equity
0.65▼
2024 · 0.67
ROE
11.9%▲
2024 · 6.2%
ROA
7.2%▲
2024 · 3.7%
Interest coverage
9.93▲
2024 · 7.82
Debt
€1.18M▲
2024 · €1.15M
Debt ≤ 1 year
€513k▼
2024 · €608k
Debt > 1 year
€662k▲
2024 · €540k
Income taxes
€71k▲
2024 · €18k
Staff costs
€733k▲
2024 · €658k
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€2.86M€3.01M▲
Fixed assets21/28€959k€1.01M▲
Tangible fixed assets22/27€959k€1.01M▲
Plant, machinery and equipment23€400k€290k▼
Furniture and vehicles24€44k€17k▼
Leasing and similar rights25€515k€704k▲
Current assets29/58€1.90M€2.00M▲
Stocks and contracts in progress3€834k€830k▼
Stocks30/36€834k€830k▼
Amounts receivable within one year40/41€858k€762k▼
Trade receivables40€858k€762k▼
Cash at bank and in hand54/58€201k€406k▲
Deferred charges and accrued income490/1€5k€857▼
Equity and liabilities
Total equity and liabilities10/49€2.86M€3.01M▲
Equity10/15€1.71M€1.83M▲
Contributions10/11€380k€380k=
Outside capital11€380k€380k=
Other1109/19€380k€380k=
Reserves13€1.33M€1.45M▲
Tax-exempt reserves132€56k€56k=
Distributable reserves133€1.27M€1.39M▲
Profit (loss) carried forward14€3k€2k▼
Amounts payable17/49€1.15M€1.18M▲
Amounts payable after more than one year17€540k€662k▲
Financial debts170/4€540k€662k▲
Amounts payable within one year42/48€608k€513k▼
Current portion of amounts payable after more than one year42€193k€155k▼
Financial debts43€75k-
Credit institutions430/8€75k-
Trade debts44€174k€176k▲
Suppliers440/4€174k€176k▲
Taxes, remuneration and social security45€84k€77k▼
Taxes450/3€29k€20k▼
Remuneration and social security454/9€55k€57k▲
Other amounts payable47/48€83k€104k▲
Accrued charges and deferred income492/3-€7k
Income statement
Code20242025
Non-recurring operating income76A€7k-
Remuneration, social security and pensions62€658k€733k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€246k€254k▲
Other operating charges640/8€127k€189k▲
Gross operating margin9900€1.16M€1.47M▲
Operating profit (loss)9901€127k€297k▲
Financial income75/76B€44k€47k▲
Recurring financial income75€44k€47k▲
Financial charges65/66B€48k€56k▲
Recurring financial charges65€48k€56k▲
Profit (loss) for the period before taxes9903€124k€289k▲
Income taxes67/77€18k€71k▲
Profit (loss) for the period9904€106k€218k▲
Profit (loss) for the period to be appropriated9905€106k€218k▲
Appropriation of the result
Profit (loss) to be appropriated9906€110k€221k▲
Profit (loss) brought forward from the previous period14P€4k€3k▼
Transfer to equity691/2€27k€119k▲
To other reserves6921€27k€119k▲
Profit to be distributed694/7€80k€100k▲
Return on contributions (dividend)694€80k€100k▲
Social balance
Average headcount (FTE)908711.612.0▲
The notes to these accounts (9 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
30-06
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 29 days late
2024
26-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Weakest financial yearnet €857 ▼99.4%
Net result drops to €857, the lowest in the series; recovery starts the following year.
28-12
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
24-01
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-01
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
30-06
Financial
Highest result since 2019net €344k ▲2701%
Operating result €410k, net result €344k, both a record.
29-01
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
09-01
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2018
31-12
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
23-01
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Mouscron · 1 establishment unit since 2000
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.
Patrick Wagnonlaan(L) 37700 MouscronGround area
2.8 ha
Building footprint
1.5 ha
Parcel 54006M0778/00C000, Wallonia. Linked by address, not a title deed.
1 establishment unit
Patrick Wagnonlaan(L) 3, 7700 Mouscron
since 20002.094.030.258
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 54006M0778/00C000 | Wallonia | 2.8 ha | 1 · 1.5 ha | - |
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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteMouscron/Moeskroen2.094.030.258
Similar companies · same sector, comparable size
Smurfit Westrock Olen
BE 0454.184.880
Olen · Eq €1.84M
Satinex
BE 0405.441.687
Waregem · Eq €1.81M
CREA PACK
BE 0433.665.521
Wielsbeke · Eq €1.79M
Belgian Paper Convertors
BE 0451.618.934
Sint-Katelijne-Waver · Eq €1.87M
DCP
BE 0415.914.521
Erpe-Mere · Eq €1.77M
Of 189 companies in sector 17210 we hold annual accounts for 154. 105 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded10-05-2000
Fiscal year end31-12
Activities, NACEBEL
17210Manufacture of paper and paper products
46900Non-specialised wholesale trade
51900
Sources
Crossroads Bank for EnterprisesNational Bank · 26 filingsAddress and cadastre registers
Data from official sources, last processed on 15-09-2026. Scores and ratios are computed by Checked and are not a credit decision.