PAPNAM
Dissolution or liquidationSummary
The KBO register records for PAPNAM the legal situation: dissolution or liquidation; this is today's state according to the register itself, which carries no start date. The 2025 annual accounts show negative equity (-€1.1m) and a net result of -€2,999.
Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€1.1m
neutral · Filed after the deadline
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 10-06-2026, 41 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 · 10 filingsDeviation from the deadline
2025
41 d late
2024
on the day
2023
4 d early
2022
23 d late
2021
2 d late
2020
54 d late
2019
55 d late
← 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 24 days after the deadline; the sector median for financial year 2024 is 8 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 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
27-09-2026 today30-09-2026 close30-04-2027 deadline
History
Go further with this company
Who ran this company, and where was it based, on a date before the end?Company as of a date How is the Materials recovery from waste sector doing?Sector figures
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€2,999▲ 70.6%
2024 · -€10,190
Working capital
-€1.6m▼ 0.2%
2024 · -€1.6m
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€88,984▲ 3.6%-€39,639▲ 55.5%-€14,094▲ 64.4%-€10,347▲ 26.6%-€3,002▲ 71.0%
Net result-€128,912▲ 0.3%-€59,532▲ 53.8%-€13,634▲ 77.1%-€10,190▲ 25.3%-€2,999▲ 70.6%
Equity-€1.0m▼ 14.3%-€1.1m▼ 6.0%-€1.1m▼ 1.3%-€1.1m▼ 0.9%-€1.1m▼ 0.3%
Total assets€707,689▼ 19.5%€673,040▼ 4.9%€661,009▼ 1.8%€646,267▼ 2.2%€646,508=
Debt€1.7m▼ 2.4%€1.7m▲ 1.7%€1.7m▲ 0.1%€1.7m▼ 0.3%€1.7m▲ 0.2%
Working capital-€1.6m▼ 7.3%-€1.6m▼ 2.8%-€1.6m▼ 0.2%-€1.6m▼ 0.3%-€1.6m▼ 0.2%
Staff (FTE)000
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €3,002 in 2025 against €10,347 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €646,508
Fixed assets
€608,745 =
Current assets
€37,762 ▲ 1.2%
Key figures and ratios
EBITDA
-€2,798▲
2024 · -€5,649
Cash flow
-€2,795▲
2024 · -€5,492
Solvency
-174.2%▼
2024 · -173.8%
Current ratio
0.02▲
2024 · 0.02
Debt to equity
-1.49▲
2024 · -1.49
ROA
-0.5%▲
2024 · -1.6%
Interest coverage
-343.32▲
2024 · -693.08
Debt ≤ 1 year
€1.7m▲
2024 · €1.7m
Income taxes
€5▼
2024 · €14
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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €0 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €23,198 | €18,325 | €10,724 | €4,698 | €204 | ▼ 95.6% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | €0 | - | - | - | - | - |
| Other operating charges640/8 | €36,784 | €17,790 | €0 | €500 | €0 | ▼ 100% |
| Non-recurring operating charges66A | €0 | - | - | - | - | - |
| Gross operating margin9900 | -€29,002 | -€3,524 | -€3,370 | -€5,149 | -€2,798 | ▲ 45.7% |
| Operating profit (loss)9901 | -€88,984 | -€39,639 | -€14,094 | -€10,347 | -€3,002 | ▲ 71.0% |
| Financial income75/76B | €1,203 | €2,450 | €476 | €179 | €16 | ▼ 90.8% |
| Recurring financial income75 | €1,203 | €2,450 | €476 | €179 | €16 | ▼ 90.8% |
| Financial charges65/66B | €41,131 | €22,343 | €8 | €8 | €8 | = |
| Recurring financial charges65 | €41,131 | €22,343 | €8 | €8 | €8 | = |
| Profit (loss) for the period before taxes9903 | -€128,912 | -€59,532 | -€13,626 | -€10,176 | -€2,994 | ▲ 70.6% |
| Income taxes67/77 | - | - | €8 | €14 | €5 | ▼ 64.3% |
| Profit (loss) for the period9904 | -€128,912 | -€59,532 | -€13,634 | -€10,190 | -€2,999 | ▲ 70.6% |
| Profit (loss) for the period to be appropriated9905 | -€128,912 | -€59,532 | -€13,634 | -€10,190 | -€2,999 | ▲ 70.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €707,689 | €673,040 | €661,009 | €646,267 | €646,508 | = |
| Fixed assets21/28 | €642,696 | €624,372 | €613,648 | €608,950 | €608,745 | = |
| Tangible fixed assets22/27 | €620,396 | €602,072 | €591,348 | €586,650 | €586,445 | = |
| Land and buildings22 | €614,731 | €599,192 | €590,245 | €586,650 | €586,445 | = |
| Plant, machinery and equipment23 | €5,665 | €2,880 | €1,103 | €0 | - | - |
| Financial fixed assets28 | €22,300 | €22,300 | €22,300 | €22,300 | €22,300 | = |
| Current assets29/58 | €64,993 | €48,668 | €47,361 | €37,318 | €37,762 | ▲ 1.2% |
| Amounts receivable within one year40/41 | €41,653 | €36,138 | €35,903 | €35,794 | €36,675 | ▲ 2.5% |
| Trade receivables40 | €38,277 | €32,324 | €31,381 | €31,381 | €31,381 | = |
| Other amounts receivable41 | €3,376 | €3,814 | €4,522 | €4,413 | €5,294 | ▲ 20.0% |
| Cash at bank and in hand54/58 | €23,340 | €12,530 | €11,458 | €1,523 | €1,087 | ▼ 28.6% |
| Deferred charges and accrued income490/1 | €0 | - | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €707,689 | €673,040 | €661,009 | €646,267 | €646,508 | = |
| Equity10/15 | -€1.0m | -€1.1m | -€1.1m | -€1.1m | -€1.1m | ▼ 0.3% |
| Contributions10/11 | €124,938 | €124,938 | €124,938 | €124,938 | €124,938 | = |
| Capital10 | €124,938 | €124,938 | €124,938 | €124,938 | €124,938 | = |
| Issued capital100 | €124,938 | €124,938 | €124,938 | €124,938 | €124,938 | = |
| Revaluation surpluses12 | €548,464 | €548,464 | €548,464 | €548,464 | €548,464 | = |
| Profit (loss) carried forward14 | -€1.7m | -€1.8m | -€1.8m | -€1.8m | -€1.8m | ▼ 0.2% |
| Investment grants15 | €3,033 | €583 | €132 | €0 | - | - |
| Provisions and deferred taxes16 | €92,065 | €92,065 | €92,065 | €92,065 | €92,065 | = |
| Provisions for liabilities and charges160/5 | €92,065 | €92,065 | €92,065 | €92,065 | €92,065 | = |
| Other liabilities and charges164/5 | €92,065 | €92,065 | €92,065 | €92,065 | €92,065 | = |
| Amounts payable17/49 | €1.7m | €1.7m | €1.7m | €1.7m | €1.7m | ▲ 0.2% |
| Amounts payable within one year42/48 | €1.6m | €1.7m | €1.7m | €1.7m | €1.7m | ▲ 0.2% |
| Financial debts43 | €430,795 | €450,580 | €450,580 | €450,580 | €453,478 | ▲ 0.6% |
| Credit institutions430/8 | €430,795 | €450,580 | €450,580 | €450,580 | €453,478 | ▲ 0.6% |
| Trade debts44 | €738,624 | €747,942 | €749,994 | €745,576 | €745,917 | = |
| Suppliers440/4 | €738,624 | €747,942 | €749,994 | €745,576 | €745,917 | = |
| Taxes, remuneration and social security45 | €182,014 | €179,977 | €179,977 | €179,977 | €179,977 | = |
| Taxes450/3 | €10,093 | €8,056 | €8,056 | €8,056 | €8,056 | = |
| Remuneration and social security454/9 | €171,921 | €171,921 | €171,921 | €171,921 | €171,921 | = |
| Other amounts payable47/48 | €289,206 | €289,206 | €289,206 | €289,206 | €289,206 | = |
| Accrued charges and deferred income492/3 | €11,506 | €11,773 | €11,773 | €11,773 | €11,773 | = |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€128,912 | -€59,532 | -€13,634 | -€10,190 | -€2,999 | ▲ 70.6% |
| + Depreciation and write-downs630 | €23,198 | €18,325 | €10,724 | €4,698 | €204 | ▼ 95.6% |
| Operating cash flow (approximation) | -€105,714 | -€41,207 | -€2,910 | -€5,492 | -€2,795 | ▲ 49.1% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€10,810 | -€1,071 | -€9,935 | -€436 | ▲ 95.6% |
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
10-06
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 41 days late
2025
30-04
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
26-04
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
23-05
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 23 days late
2022
02-05
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 2 days late
2021
23-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 54 days late
2020
24-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 55 days late
2019
25-04
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
04-04
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
29-03
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
NBB filing
0 of 10 acts read
About the unread acts
We know of 10 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
10 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, Sambreville · 1 establishment unit since 1997
Ground area
1.3 ha
Building footprint
74 m²
Volume, LiDAR
781 m³
Parcel 92007E0458/00X002, Wallonia · tallest building 10.8 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
PAPNAM
since 19972.131.243.715
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92007E0458/00X002 | Wallonia | 1.3 ha | 1 · 74 m² | 10.8 m · 3 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.
Structure & network
Owners and holdings
1 ownerOwners 1
- SEOSparentSourceaccounts SEOS 30-09-202599.94%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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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 978 companies in sector 38210 we hold annual accounts for 585. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded30-12-1991
Fiscal year end30-09
Activities, NACEBEL 2025
38210Materials recovery from waste
46872Wholesale trade
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.