PAPPAERT
Annual accounts 2025
micro format, filed on 05-06-2026, 56 days before the deadlineTurnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €140,000. Estimated: probably between €83,000 and €250,000.
Balance sheet
balance sheet total €135,973 on 31-12-2025in euro
in euro
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||
20/58 |
135,973 | 80,822 | 65,996 | 58,086 | 55,417 | |
21/28 |
44,545 | 20,589 | 25,473 | 31,720 | 37,982 | |
22/27 |
44,545 | 20,589 | 25,473 | 31,720 | 37,982 | |
22 |
679 | 982 | 1,285 | - | - | |
23 |
3,742 | 5,071 | 856 | 1,217 | 208 | |
24 |
40,124 | 14,536 | 23,332 | 30,503 | 37,774 | |
29/58 |
91,428 | 60,233 | 40,524 | 26,366 | 17,435 | |
40/41 |
71,463 | 39,762 | 16,898 | 5,000 | - | |
41 |
71,463 | 39,762 | 16,898 | 5,000 | - | |
54/58 |
8,034 | 8,296 | 10,535 | 9,041 | 9,055 | |
490/1 |
11,931 | 12,176 | 13,091 | 12,325 | 8,380 | |
| Balance sheet: equity and liabilities | ||||||
10/49 |
135,973 | 80,822 | 65,996 | 58,086 | 55,417 | |
10/15 |
88,188 | 76,345 | 54,780 | 31,007 | 9,315 | |
10/11 |
2,000 | 2,000 | 2,000 | 2,000 | 2,000 | |
13 |
86,188 | 74,345 | 52,780 | 29,007 | 7,315 | |
133 |
86,188 | 74,345 | 52,780 | 29,007 | 7,315 | |
17/49 |
47,785 | 4,477 | 11,216 | 27,079 | 46,102 | |
17 |
31,750 | - | - | - | - | |
170/4 |
31,750 | - | - | - | - | |
42/48 |
15,150 | 4,477 | 11,216 | 27,079 | 46,102 | |
42 |
12,666 | - | - | 2,511 | - | |
44 |
2,217 | 4,003 | 5,770 | 5,822 | 5,817 | |
440/4 |
2,217 | 4,003 | 5,770 | 5,822 | 5,817 | |
45 |
266 | 474 | 5,446 | 10,672 | 3,294 | |
450/3 |
266 | 474 | 5,446 | 10,672 | 3,294 | |
47/48 |
- | - | - | 8,074 | 36,991 | |
492/3 |
885 | - | - | - | - | |
| Income statement | ||||||
9900 |
34,391 | 37,946 | 46,553 | 43,051 | 14,069 | |
630 |
11,260 | 10,139 | 9,278 | 8,655 | 2,716 | |
640/8 |
607 | 834 | 686 | 1,830 | 548 | |
66A |
6,333 | - | - | - | - | |
9901 |
16,191 | 26,972 | 36,588 | 32,566 | 10,805 | |
75/76B |
3,117 | 2,011 | 286 | 5 | 4 | |
75 |
3,117 | 2,011 | 286 | 5 | 4 | |
65/66B |
1,765 | 279 | 3,034 | 1,268 | 201 | |
65 |
1,765 | 279 | 3,034 | 1,268 | 62 | |
66B |
- | - | - | - | 139 | |
9903 |
17,542 | 28,704 | 33,841 | 31,304 | 10,609 | |
67/77 |
5,699 | 7,140 | 10,067 | 9,612 | 3,294 | |
9904 |
11,843 | 21,564 | 23,774 | 21,692 | 7,315 | |
9905 |
11,843 | 21,564 | 23,774 | 21,692 | 7,315 | |
| Appropriation of the result | ||||||
9906 |
11,843 | 21,564 | 23,774 | 21,692 | 7,315 | |
691/2 |
11,843 | 21,564 | 23,774 | 21,692 | 7,315 | |
6921 |
11,843 | 21,564 | 23,774 | 21,692 | 7,315 | |
| Document | ||||||
The notes to these accounts have 7 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 05-06-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 05-06-2026 | 2026-00144747 | |
| 31-12-2024 | micro format | 13-08-2025 | 2025-00382010 | |
| 31-12-2023 | micro format | 15-07-2024 | 2024-00257185 | |
| 31-12-2022 | micro format | 04-07-2023 | 2023-00221037 | |
| 31-12-2021 | micro format | 04-07-2022 | 2022-20137533 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| 27,450 | 37,112 | 45,866 | 41,221 | 13,521 | ||
| 23,103 | 31,704 | 33,052 | 30,347 | 10,031 | ||
| 48,550 | 5,255 | 3,031 | 2,393 | 40,698 | ||
| -262 | -2,239 | 1,494 | -14 | - | ||
| 76,278 | 55,756 | 29,308 | -713 | -28,667 | ||
| 64.9% | 94.5% | 83.0% | 53.4% | 16.8% | ||
| 6.03 | 13.45 | 3.61 | 0.97 | 0.38 | ||
| 0.54 | 0.06 | 0.20 | 0.87 | 4.95 | ||
| 13.4% | 28.2% | 43.4% | 70.0% | 78.5% | ||
| 8.7% | 26.7% | 36.0% | 37.3% | 13.2% | ||
| 15.55 | over 100 | 15.12 | 32.52 | over 100 |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €48,550 | €5,255 | €3,031 | €2,393 | €40,698 |
| €11,260 | €10,139 | €9,278 | €8,655 | €2,716 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Insights on PAPPAERT
The operating result for 2025 is 40% lower than in 2024 and the lowest since 2021. It is the second fall in a row.
Debt's share of the balance-sheet total rises from 5.5% to 35.1%. Equity and debt are higher.