Equity
-€81,016
Debts exceed assets in financial year 2025.
PAPY JO
Lifetime
20 annual accounts with figures on one time axis, 27 filings since 1999peak €136,616 (2014)
€24,293▼ 44.1%
lowest -€46,828 (2015)
-€22,367▼ €17,692
peak €73,941 (2011)
-€81,016▼ €22,367
€389,189▲ 1.0%
peak 2.5 FTE (2012)
-not published
Board2 names since 2024
2 directorsDE CLERCQ Fernand and 1 other
Documentsfilings and deeds
20-07-202611 days before the deadline
2025abbreviated format
Gross margin from €43,493 to €24,293Loss of €22,367Equity from -€58,649 to -€81,016
Key points
from the 2025 annual accountsLosses
-€75,666 in five years
Every financial year from 2021 to 2025 closed with a loss. 2021 was the heaviest.
Turnover
≈ €260,000 estimated
The accounts state no turnover.
Debts
€389,189 126% of the balance sheet
Financial debts 54%Suppliers 3%Taxes and wages 2%Other 41%
Of this, €178,375 falls due within a year.
Filings
27 annual accounts since 1999
The 2020 accounts came 2 days late. The other nine of the last ten were filed on time.
Position in the sector
-€81,016
Less equity than 90% of companies in food and beverage service. Sector median €79,158 · 4,823 companies.
Checked score
53
Fair
Financially stronger than 17% of micro companies in food and beverage service (NACE 56)
Probability in this band: 1.5% to 4.2%
Bankruptcy probability within 12 months
1.8% Moderate
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 1.8% across 23,788 companies (NACE 56, micro).
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 1.7%
01-2025: 1.7%● unchanged vs 12-2024
02-2025: 1.7%● unchanged vs 01-2025
03-2025: 1.7%● unchanged vs 02-2025
04-2025: 1.7%● unchanged vs 03-2025
05-2025: 1.7%● unchanged vs 04-2025
06-2025: 1.7%● unchanged vs 05-2025
07-2025: 1.9%▲ +0.2 percentage points vs 06-2025highest value
08-2025: 1.2%▼ -0.7 percentage points vs 07-2025
09-2025: 1.2%● unchanged vs 08-2025
10-2025: 1.2%● unchanged vs 09-2025
11-2025: 1.2%● unchanged vs 10-2025
12-2025: 1.2%● unchanged vs 11-2025
01-2026: 1.2%● unchanged vs 12-2025
02-2026: 1.2%● unchanged vs 01-2026
03-2026: 1.1%▼ -0.1 percentage points vs 02-2026
04-2026: 1.1%● unchanged vs 03-2026
05-2026: 1.1%● unchanged vs 04-2026
06-2026: 1.1%● unchanged vs 05-2026lowest value
07-2026: 1.4%▲ +0.3 percentage points vs 06-2026
08-2026: 1.8%▲ +0.4 percentage points vs 07-2026
09-2026: 1.8%● unchanged vs 08-2026
10-2026: 1.8%● unchanged vs 09-2026
11-2026: 1.8%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Negative equity -€81,016
Sector: Food and beverage service activities (NACE 56)
Loss of €22,367, the second in a row (financial year 2025)
lowers risk
Size: total assets €308,173
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 56, micro). It does better than 9% of them on solvency, 18% on liquidity, 25% on profitability and 18% on growth.
The bankruptcy probability was computed on 05-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the moderate class on 30-06-2025, 2.4% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 2,796 companies had the same profile as PAPY JO has now. Each dot stands for 7 companies, two years later.
90.4%
were still trading
6.0%
stopped another way
2.1%
went bankrupt
Another 1.5% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of PAPY JO itself: 1.8% within 12 months.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 2,796 companies, not a prediction for PAPY JO. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
No credit on open account
Liquidity is insufficient, with a current ratio of 0.14 (0.11 in 2024), below 1. Short-term debt is 57.9% and cash 1.2% of total assets. Equity is negative.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
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 -€81,016
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 20-07-2026, 11 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
11 days early
2024
28 days early
2023
7 days early
2022
7 days early
2021
4 days early
2020
2 days late
2019
17 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 10 days before the deadline. In the sector (NACE 56), the median for financial year 2024 was 7 days after the deadline, and 53% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 24 July (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
06-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- DE CLERCQ Fernand 375 sharesdeed of 09-01-2024
- DOS SANTOS FERREIRA Edjane 375 sharesdeed of 09-01-2024
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0462527969
Amendment of the articles · Legal-form change · Resignations & appointments
Resignations: DE CLERCQ Fernand (manager) and DOS SANTOS FERREIRA Edjane (manager) · Reappointments: DE CLERCQ Fernand (director) and DOS SANTOS FERREIRA Edjane (director) · DE CLERCQ Fernand holds 375 shares · General meeting of 19-12-2023 · Gazette deed
Incorporation
published on 26-02-1998 · Gazette deed
First establishment
Route de Couvin 63, Walcourt
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| PAPY JO Walcourt | €308,173 | €24,293 | -26.3% | - |
| COMME MA GRAND-MERE Forest | €308,962 | €32,247 | 81.6% | - |
| RESTAURANT LOTUS Kinrooi | €376,814 | €28,504 | 71.1% | - |
| GATE 5 Ostend | €289,356 | €19,103 | 22.4% | - |
| FRITUUR CULTUUR Bornem | €289,148 | €24,949 | 94.5% | - |
| TEA - ROOM MATUVU Roeselare | €271,893 | €29,100 | 78.8% | - |
| ALI.H. Woluwe-Saint-Lambert | €317,206 | €22,788 | 48.7% | - |
These companies have the same main activity as PAPY JO: limited-service restaurants, excluding mobile food services (NACE 56112). They are comparable in size and age: total assets between €272,000 and €377,000, founded between 1990 and 2005.
Official details
Source: KBO- Status
- Active since 13-02-1998Normal situation
- Activity
- Limited-service restaurants, excluding mobile food servicesNACE 56112
- Establishment unit
- 2.085.434.3755651 Walcourt, since 13-02-1998
- Financial year end
- 31 December
- Peppol
- Reachable since 14-01-2026
Annual accounts 2025
- €308,173▼ 5.6%
- Filing
- Filed on 20-07-2026, 11 days before the end of the filing period
Insights on PAPY JO
PAPY JO files the abbreviated format. That format states no turnover. The gross margin rose from €4,531 in 2006 to €24,293 in 2025.
The balance sheet grew most from 2010 to 2012 through fixed assets.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about PAPY JO
- What is the company number of PAPY JO?
- The company number of PAPY JO is 0462.527.969. The VAT number is the same number with BE in front: BE 0462.527.969.
- Where is PAPY JO based?
- The registered office is at Route de Couvin 63, 5651 Walcourt.Company details
- What does PAPY JO do?
- According to the KBO register, the main activity is limited-service restaurants, excluding mobile food services (NACE 56112).
- What is the legal form of PAPY JO?
- PAPY JO is a private limited company (BV).
- When was PAPY JO founded?
- PAPY JO was founded on 13-02-1998.
- Is PAPY JO still active?
- Yes, PAPY JO is an active enterprise in the KBO register.
- How many employees does PAPY JO have?
- PAPY JO had an average of 0.2 full-time equivalents in financial year 2023, according to the filed annual accounts.Financials
- What is the turnover of PAPY JO?
- The turnover in financial year 2025 is ≈ €260,000. This figure is estimated from the gross margin of €24,293 and 36 comparable companies (NACE 56112). It probably lies between €150,000 and €490,000. It is a rough estimate.
- Is PAPY JO profitable?
- In financial year 2025, PAPY JO made a loss of €22,367.
- Where can I find the annual accounts of PAPY JO?
- PAPY JO filed 27 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of PAPY JO due?
- PAPY JO must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Check which of your other customers you can e-invoice via Peppol.Peppol check Compare this company with its sector.Sector benchmark See what changed in the latest annual accounts.What changed
See how customers, suppliers and banks see your own company and what to improve first.