PAPYRO

Active Private limited companyfounded 1994active for 32 yearsBoterstraat 17, 8900 YpresKBO/BCE: BE 0452.961.987

PAPYRO

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Overview

Lifetime

20 annual accounts with figures on one time axis, 31 filings since 1995

Compare with

peak €27,810 (2006)

€22,453▼ 1.9%

lowest -€11,410 (2019)

€10,586▼ 11.7%

peak €116,323 (2025)

€116,323▲ 10.0%

€51,018▲ 9.6%

peak 0.1 FTE (2006)

-not published

Board1 name since 2021

1 directorStefaan Demeulemeester

Documentsfilings and deeds

01-07-202630 days before the deadline

2025micro format

A quiet year: no large shift against the year before.

Key points

from the 2025 annual accounts

Turnover

≈ €160,000 estimated

The micro format states no turnover.

Filings

31 annual accounts since 1995

The last five annual accounts were filed 30 to 49 days before the end of the period.

Position in the sector

69.5%

Higher solvency than 80% of companies in retail trade. Sector median 33.1% · 22,909 companies.

Checked score

Excellent

Financially stronger than 64% of micro companies in retail trade (NACE 47)

Probability in this band: under 0.55%

Bankruptcy probability within 12 months 0.1% Very low

0%0.5%1.5%4%10%≥ 25%

The dashed line is the sector median: 0.6% across 40,276 companies (NACE 47, micro).

Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Last 24 months 12-2024: 0.1% 01-2025: 0.1%● unchanged vs 12-2024 02-2025: 0.1%● unchanged vs 01-2025 03-2025: 0.1%● unchanged vs 02-2025 04-2025: 0.1%● unchanged vs 03-2025 05-2025: 0.1%● unchanged vs 04-2025highest value 06-2025: 0.1%● unchanged vs 05-2025 07-2025: 0.1%● unchanged vs 06-2025 08-2025: 0.1%● unchanged vs 07-2025 09-2025: 0.1%● unchanged vs 08-2025 10-2025: 0.1%● unchanged vs 09-2025 11-2025: 0.1%● unchanged vs 10-2025 12-2025: 0.1%● unchanged vs 11-2025 01-2026: 0.1%● unchanged vs 12-2025 02-2026: 0.1%● unchanged vs 01-2026 03-2026: 0.1%● unchanged vs 02-2026 04-2026: 0.1%● unchanged vs 03-2026 05-2026: 0.1%● unchanged vs 04-2026 06-2026: 0.1%● unchanged vs 05-2026 07-2026: 0.1%● unchanged vs 06-2026 08-2026: < 0.1%▼ -0.1 percentage points vs 07-2026lowest value 09-2026: 0.1%▲ +0.1 percentage points vs 08-2026 10-2026: 0.1%● unchanged vs 09-2026 11-2026: 0.1%● unchanged vs 10-2026

Financial strength

Strong

95+1equity 69.5% of total assets

77+5short-term debt 30.4% · cash 31.7%

47-1return on assets 6.3%

Score breakdown

raises risk

Sector: Retail trade (NACE 47)

lowers risk

Liquidity: current ratio 3.19, cash €53,039

Founded in 1994

Equity €116,323 (69.5% of total assets)

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 47, micro). It does better than 80% of them on solvency, 82% on liquidity, 34% on profitability and 61% on growth.

The bankruptcy probability was computed on 07-11-2026 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 very low class on 30-06-2025, 0.1% 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, 31,368 companies had the same profile as PAPYRO has now. Each dot stands for 79 companies, two years later.

93.5%

were still trading

5.9%

stopped another way

0.5%

went bankrupt

Micro
20 years or older
solvency 30% or more
a profit of 5% of the balance sheet or more

Another 0.1% stopped without a precise date, possibly only after those two years.

That fits the bankruptcy probability of PAPYRO itself: 0.1% 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.

The companies in ten equal groups, from the lowest to the highest expected share
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 31,368 companies, not a prediction for PAPYRO. 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

Credit of up to €11,000 on 30-day terms is acceptable

Liquidity is ample, with a current ratio of 3.19 (3.16 in 2024), above the usual 1.5. Short-term debt is 30.4% and cash 31.7% of total assets. 30.5% of the assets are financed with debt and provisions.

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

Five signals.

lowers riskraises riskneutral

Liquidity: current ratio 3.19, cash €53,039

NBB · annual accounts

Founded in 1994

Companies that have existed this long fail less often. How much that weighs depends on the rest of the company's profile.

KBO

Sector: Retail trade (NACE 47)

KBO

Equity €116,323 (69.5% of total assets)

NBB · annual accounts

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 01-07-2026, 30 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

30 days early

2024

44 days early

2023

40 days early

2022

49 days early

2021

41 days early

2020

31 days early

2019

37 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 39 days before the deadline. In the sector (NACE 47), the median for financial year 2024 was on the deadline day, and 47% of those companies filed late.

Searched, nothing found (2)

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 20 June (5 of the last 5 accounts filed within 30 days either side of that date).

Companies Code · seven months

Where today falls in the filing period

08-11-2026 today31-12-2026 year end31-07-2027 deadline

No strike-offs in the KBO publications

That holds for every publication since 2021.

KBO publications

Board and ownership

Stefaan Demeulemeester

Director

Board & ownership

Recent changes

06-01-2025

Registered in the Peppol Directory Reachable for e-invoices through 0208:0452961987

04-07-2023

Change of role: Stefaan Demeulemeester, from statutory manager to director “Bureelbenodigdheden kantoormaterieel schoolgerief; Speelgoed,kinderboeken en strips; Wenskaarten en posters…” (deed in Dutch) · Director discharge: Stefaan Demeulemeester · General meeting of 11-05-2023 · Gazette deed

02-08-1994

First establishment PAPYRO BVBA, Boterstraat 17, Ypres

22-06-1994

Incorporation published on 14-07-1994 · Gazette deed

All 39 events

Comparable companies

same main activity, similar in size and age

Company
PAPYRO Ypres	€167,341	€22,453	69.5%	-
DEPUYDT Ypres	€146,441	€32,119	50.9%	-
BE DE FONCE Ecaussinnes	€138,974	€21,694	78.5%	-
HET KRANTENHOEKJE Oudsbergen	€196,743	€23,270	50.6%	-
RAI'S Lokeren	€182,723	€17,450	74.8%	-
ZIGGY NELL Uccle	€177,733	€30,195	-30.7%	-
LIBRAIRIE AU PETIT VATEL Blegny	€131,223	€24,874	47.8%	-

These companies have the same main activity as PAPYRO: retail sale of newspapers and periodicals (NACE 47621). They are comparable in size and age: total assets between €131,000 and €197,000, founded between 1989 and 1999.

Official details

Source: KBO

Status: Active since 22-06-1994Normal situation
Activity: Retail sale of newspapers and periodicalsNACE 47621and 4 others
Joint committee: 201Independent retail · annual accounts 2025
Establishment unit: 2.067.752.4638900 Ypres, since 02-08-1994
Financial year end: 31 December
Peppol: Reachable since 06-01-2025

Company details

Annual accounts 2025

: €22,453▼ 1.9%
: €10,586▼ 11.7%
: €116,323▲ 10.0%
: €167,341▲ 9.9%
: 0.1 FTE=
Filing: Filed on 01-07-2026, 30 days before the end of the filing period

Financials

Insights on PAPYRO

PAPYRO files the micro format. That format states no turnover. The gross margin fell from €27,810 in 2006 to €22,453 in 2025.

Sources: KBO register, filings at the National Bank, Belgian Official Gazette.

Financials

Annual accounts 2025

micro format, filed on 01-07-2026, 30 days before the deadline

€22,453

▼ 1.9%

€19,712

▼ 3.1%

€10,586

▼ 11.7%

€111,598

▲ 11.2%

69.5%

▲ 0.1 percentage points

3.19

▲ 0.03

Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.

Turnover ≈ €160,000. Estimated: probably between €85,000 and €370,000.

Balance sheet

balance sheet total €167,341 on 31-12-2025

What the company ownsHow it is paid for

in euro

Position in the sector

Compare with sector

69.5%

Higher than 80% of 22,909 companies in 2025.

3.19

Higher than 78% of 22,039 companies in 2025.

6.3%

Higher than 59% of 22,189 companies in 2025.

PAPYRO Middle half of the sector 80% of the sector Micro accounts in retail trade (NACE 47)

Net result: middle half · Equity: middle half · Balance sheet total: middle half · Working capital: top quarter

Staff

€6,755

Staff costs divided by the average number of full-time equivalents.

level

people who joined people who left

In 2025, 2 people joined and 2 left.

Filed annual accounts

as filed with the National Bank, click a year to choose it

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006
Balance sheet: assets
`20/58`	167,341	152,274	140,683	143,257	143,018	140,428	131,620	145,171	150,936	149,154	150,467	148,447	146,406	144,076	138,815	137,742	130,732	127,286	121,800	120,333
`21/28`	4,820	5,482	6,145	975	1,950	4,173	6,547	4,364	6,653	3,560	10,778	16,063	21,460	24,988	2,408	2,958	8,531	9,425	15,982	22,592
`22/27`	4,820	5,482	6,145	975	1,950	4,173	6,397	4,214	6,503	3,410	10,628	15,913	21,310	24,838	2,258	2,808	8,381	9,275	15,832	22,442
`22`	4,820	5,482	6,145	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
`23`	-	-	-	975	1,950	4,173	6,397	4,214	6,302	2,145	2,983	1,487	-	936	1,872	2,808	3,744	-	1,712	3,425
`24`	-	-	-	-	-	-	-	-	201	1,265	7,645	14,426	21,310	23,902	386	-	4,637	9,275	14,120	19,017
`28`	-	-	-	-	-	-	150	150	150	150	150	150	150	150	150	150	150	150	150	150
`29/58`	162,521	146,791	134,539	142,282	141,069	136,255	125,073	140,807	144,283	145,594	139,690	132,384	124,946	119,088	136,407	134,784	122,201	117,861	105,818	97,741
`3`	77,922	74,832	78,336	79,578	77,061	76,885	78,349	88,863	91,989	91,554	86,421	80,791	76,780	74,080	75,927	72,278	69,546	70,645	71,396	66,234
`30/36`	77,922	74,832	78,336	79,578	77,061	76,885	78,349	88,863	91,989	91,554	86,421	80,791	76,780	74,080	75,927	72,278	69,546	70,645	71,396	66,234
`40/41`	4,453	2,759	3,836	3,969	2,757	4,906	2,373	1,341	2,785	1,218	2,437	1,194	1,714	4,906	2,168	4,686	4,988	5,302	2,550	2,728
`40`	4,453	2,759	3,836	3,969	2,757	4,906	2,373	1,341	2,785	1,218	2,437	1,194	1,714	4,906	1,833	3,196	2,562	3,339	2,036	2,728
`41`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	335	1,490	2,426	1,962	514	-
`50/53`	25,365	25,365	25,365	19,512	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
`54/58`	53,039	42,148	25,377	36,786	58,933	53,724	43,635	49,912	48,838	52,167	50,190	49,330	45,707	38,696	57,047	56,570	47,655	40,198	30,404	27,909
`490/1`	1,743	1,687	1,624	2,438	2,317	740	716	691	670	655	640	1,069	745	1,405	1,266	1,249	13	1,717	1,468	870
Balance sheet: equity and liabilities
`10/49`	167,341	152,274	140,683	143,257	143,018	140,428	131,620	145,171	150,936	149,154	150,467	148,447	146,406	144,076	138,815	137,742	130,732	127,286	121,800	120,333
`10/15`	116,323	105,737	93,751	95,495	89,217	88,968	83,674	95,084	99,915	99,045	98,856	93,755	92,850	90,814	85,581	78,414	75,828	71,337	70,037	65,657
`10/11`	37,184	37,184	37,184	37,184	37,184	37,184	37,184	37,184	37,184	37,184	37,184	37,184	37,184	37,184	37,184	37,184	37,184	37,184	37,184	37,184
`100`	-	-	-	-	-	-	37,184	37,184	37,184	37,184	37,184	37,184	37,184	37,184	37,184	37,184	37,184	37,184	37,184	37,184
`13`	79,139	68,553	62,731	62,731	62,731	62,731	62,731	62,731	62,731	61,861	61,672	56,571	55,666	53,630	48,397	41,229	38,644	34,153	32,853	28,473
`130/1`	-	-	-	3,718	3,718	3,718	-	-	-	-	-	-	-	-	-	-	-	-	-	-
`130`	-	-	-	-	-	-	3,718	3,718	3,718	3,718	3,718	3,718	3,718	3,718	3,718	3,718	3,718	3,718	3,718	3,718
`1311`	-	-	-	3,718	3,718	3,718	-	-	-	-	-	-	-	-	-	-	-	-	-	-
`133`	79,139	68,553	62,731	59,012	59,012	59,012	59,012	59,012	59,012	58,143	57,954	52,853	51,948	49,912	44,679	37,511	34,926	30,435	29,134	24,755
`14`	-	-	-6,164	-4,420	-10,698	-10,946	-16,241	-4,831	-	-	-	-	-	-	-	-	-	-	-	-
`17/49`	51,018	46,537	46,933	47,762	53,802	51,460	47,947	50,087	51,021	50,108	51,611	54,691	53,555	53,262	53,234	59,328	54,904	55,948	51,763	54,676
`42/48`	50,923	46,443	46,833	47,689	53,691	51,357	47,157	49,790	50,635	49,802	51,169	53,643	51,713	50,580	51,369	57,465	53,046	53,483	49,904	49,997
`44`	6,832	3,606	5,373	4,858	10,444	8,526	4,868	6,605	6,668	8,575	5,457	9,087	9,030	8,433	8,953	14,969	10,199	11,637	10,605	5,460
`440/4`	6,832	3,606	5,373	4,858	10,444	8,526	4,868	6,605	6,668	8,575	5,457	9,087	9,030	8,433	8,953	14,969	10,199	11,637	10,605	5,460
`45`	7,936	7,198	6,298	6,598	7,110	6,663	6,091	6,956	7,709	4,937	9,392	8,205	7,852	7,185	7,424	7,449	7,770	6,738	4,159	9,343
`450/3`	7,936	7,198	6,298	6,598	7,110	6,663	6,091	6,956	7,709	4,937	9,392	8,125	7,518	7,185	7,424	7,449	7,770	6,738	4,159	8,569
`454/9`	-	-	-	-	-	-	-	-	-	-	-	80	334	-	-	-	-	-	-	774
`47/48`	36,155	35,639	35,162	36,233	36,137	36,168	36,198	36,229	36,259	36,290	36,320	36,351	34,831	34,962	34,992	35,048	35,078	35,109	35,139	35,195
`492/3`	95	94	100	73	110	103	789	297	386	307	442	1,049	1,842	2,682	1,866	1,864	1,858	2,465	1,860	4,679
Income statement
`76A`	-	-	-	-	-	-	-	2,000	-	-	-	-	-	-	-	-	-	-	-	-
`9900`	22,453	22,891	9,873	17,601	14,949	17,022	2,032	7,375	15,104	18,461	24,450	20,509	21,218	24,653	20,127	17,719	20,048	18,692	22,496	27,810
`62`	676	776	434	555	672	714	724	1,099	1,058	1,287	1,136	2,610	1,072	1,341	1,178	951	1,280	3,024	2,559	2,503
`630`	662	662	1,454	975	2,224	2,224	2,691	2,289	3,152	7,821	7,620	7,256	7,846	7,008	1,193	5,573	5,573	6,558	6,610	6,662
`640/8`	1,403	1,118	850	905	1,370	1,353	1,230	1,136	1,124	1,152	1,117	1,154	1,137	1,839	1,044	775	416	404	386	505
`66A`	-	-	-	-	-	-	-	-	-	-	-	-	-	200	-	-	-	-	-	-
`9901`	19,712	20,334	7,135	15,167	10,682	12,731	-2,613	2,851	9,770	8,201	14,577	9,489	11,163	14,466	16,712	10,419	12,779	8,707	12,941	18,140
`75/76B`	1,001	835	1	209	4	0	6	258	222	323	313	402	488	671	735	842	976	832	735	753
`75`	1,001	835	1	209	4	0	6	258	222	323	313	402	488	671	735	842	976	832	735	753
`65/66B`	8,494	8,851	8,881	9,025	10,258	7,269	8,627	7,765	8,718	8,126	8,104	8,906	9,281	8,918	8,902	8,488	8,842	8,287	8,410	8,140
`65`	8,494	8,851	8,881	9,025	10,258	7,269	8,627	7,765	8,718	8,126	8,104	8,906	9,281	8,918	8,902	8,488	8,842	8,287	8,410	8,140
`9903`	12,219	12,318	-1,744	6,351	428	5,462	-11,234	-4,656	1,274	398	6,786	985	2,370	6,018	8,545	2,773	4,913	1,252	5,265	10,754
`67/77`	1,633	332	-	73	179	168	176	175	405	208	1,685	80	334	785	1,378	188	422	-48	886	2,169
`9904`	10,586	11,986	-1,744	6,278	249	5,295	-11,410	-4,831	869	189	5,101	905	2,036	5,233	7,167	2,586	4,491	1,301	4,380	8,585
`9905`	10,586	11,986	-1,744	6,278	249	5,295	-11,410	-4,831	869	189	5,101	905	2,036	5,233	7,167	2,586	4,491	1,301	4,380	8,585
Appropriation of the result
`9906`	10,586	5,823	-6,164	-4,420	-10,698	-10,946	-16,241	-4,831	869	189	5,101	905	2,036	5,233	7,167	2,586	4,491	1,301	4,380	8,585
`14P`	-	-6,164	-4,420	-10,698	-10,946	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
`691/2`	10,586	5,823	-	-	-	-	-	-	869	189	5,101	905	2,036	5,233	7,167	2,586	4,491	1,301	4,380	8,585
`6921`	10,586	5,823	-	-	-	-	-	-	869	189	5,101	905	2,036	5,233	7,167	2,586	4,491	1,301	4,380	8,585
Social balance sheet
`9087`	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1
Hours worked`1013`	48	54	30	33	44	40	57	57	56	70	72	117	70	101	91	71	103	187	176	176
Document	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF

The accounts for 11 older financial years (1995-2005) were filed as documents without figures as data, scans for example.

The notes to these accounts have 4 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.

Source: Annual accounts 2025 at the NBB, filed on 01-07-2026.

Download as CSV

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	01-07-2026	2026-00243730	PDF
31-12-2024	micro format	17-06-2025	2025-00151221	PDF
31-12-2023	micro format	21-06-2024	2024-00155915	PDF
31-12-2022	micro format	12-06-2023	2023-00123644	PDF
31-12-2021	micro format	20-06-2022	2022-20118369	PDF
31-12-2020	micro format	30-06-2021	2021-28400106	PDF
31-12-2019	micro format	24-06-2020	2020-20300599	PDF
31-12-2018	micro format	19-06-2019	2019-20000497	PDF
31-12-2017	micro format	11-06-2018	2018-17500205	PDF
31-12-2016	micro format	13-06-2017	2017-17000116	PDF
31-12-2015	abbreviated format	15-06-2016	2016-18100464	PDF
31-12-2014	abbreviated format	22-06-2015	2015-19800540	PDF
31-12-2013	abbreviated format	16-06-2014	2014-17900574	PDF
31-12-2012	abbreviated format	14-06-2013	2013-17600379	PDF
31-12-2011	abbreviated format	25-06-2012	2012-21400198	PDF
31-12-2010	abbreviated format	27-06-2011	2011-21200161	PDF
31-12-2009	abbreviated format	14-06-2010	2010-17400037	PDF
31-12-2008	abbreviated format	23-06-2009	2009-27500254	PDF
31-12-2007	abbreviated format	18-06-2008	2008-25300287	PDF
31-12-2006	abbreviated format	29-06-2007	2007-32200238	PDF
31-12-2005	abbreviated format	14-06-2006	2006-24600469	PDF
31-12-2004	abbreviated format	27-06-2005	2005-34501024	PDF
31-12-2003	abbreviated format	21-06-2004	2004-28202927	PDF
31-12-2002	abbreviated format	25-06-2003	2003-30804381	PDF
31-12-2001	abbreviated format	20-06-2002	2002-24701822	PDF
31-12-2000	abbreviated format	28-06-2001	2001-29204996	PDF
31-12-1999	abbreviated format	20-06-2000	2000-24704167	PDF
31-12-1998	abbreviated format	03-09-1999	1999-44302666	PDF
31-12-1997	abbreviated format	03-08-1998	1998-38501887	PDF
31-12-1996	abbreviated format	02-10-1997	1997-47005178	PDF
31-12-1995	abbreviated format	28-06-1996	1996-22903487	PDF

Key figures and ratios

per financial year, computed from the annual accounts

2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006
20,375	20,997	8,589	16,141	12,906	14,955	78	5,139	12,922	16,022	22,197	16,745	19,009	21,474	17,905	15,992	18,352	15,264	19,551	24,802
11,248	12,649	-290	7,253	2,472	7,518	-8,719	-2,542	4,021	8,010	12,721	8,161	9,882	12,241	8,361	8,159	10,064	7,858	10,989	15,247
0	0	6,624	0	0	-150	4,874	0	6,245	602	2,335	1,859	4,317	29,588	643	0	4,680	0	0	23,187
10,891	16,772	-11,409	-22,147	5,210	10,089	-6,277	1,074	-3,329	1,976	861	3,623	7,010	-18,350	477	8,915	7,457	9,795	2,495	-
111,598	100,348	87,706	94,593	87,377	84,898	77,915	91,017	93,648	95,792	88,521	78,741	73,233	68,508	85,039	77,319	69,154	64,378	55,914	47,744
69.5%	69.4%	66.6%	66.7%	62.4%	63.4%	63.6%	65.5%	66.2%	66.4%	65.7%	63.2%	63.4%	63.0%	61.7%	56.9%	58.0%	56.0%	57.5%	54.6%
3.19	3.16	2.87	2.98	2.63	2.65	2.65	2.83	2.85	2.92	2.73	2.47	2.42	2.35	2.66	2.35	2.30	2.20	2.12	1.95
1.66	1.55	1.20	1.31	1.19	1.16	0.99	1.04	1.03	1.09	1.04	0.96	0.93	0.89	1.18	1.09	0.99	0.88	0.69	0.63
0.44	0.44	0.50	0.50	0.60	0.58	0.57	0.53	0.51	0.51	0.52	0.58	0.58	0.59	0.62	0.76	0.72	0.78	0.74	0.83
9.1%	11.3%	-1.9%	6.6%	0.3%	6.0%	-13.6%	-5.1%	0.9%	0.2%	5.2%	1.0%	2.2%	5.8%	8.4%	3.3%	5.9%	1.8%	6.3%	13.1%
6.3%	7.9%	-1.2%	4.4%	0.2%	3.8%	-8.7%	-3.3%	0.6%	0.1%	3.4%	0.6%	1.4%	3.6%	5.2%	1.9%	3.4%	1.0%	3.6%	7.1%
2.40	2.37	0.97	1.79	1.26	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-

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.

Social balance sheet

Item	31-12-2025	31-12-2024	31-12-2023	31-12-2022	31-12-2021
	0.1	0.1	0.1	0.1	0
Joined	2	1	2	2	2
Left	2	1	2	2	2

Source: social balance sheet in the 2021 to 2025 annual accounts

Investments

fixed assets acquired

Item	2025	2024	2023	2022	2021
Tangible fixed assets	-	-	€6,624	-	-
	€662	€662	€1,454	€975	€2,224

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Insights on PAPYRO

The operating result for 2025 is 3% lower than in 2024.

Debt's share of the balance-sheet total falls from 30.6% to 30.5%. Equity and debt are higher.

Board & ownership

Board

1 director, no change since 2023

Stefaan Demeulemeester

Director (not named in the articles)

appointed by deed of 04-07-2023

earlier statutory manager, until 04-07-2023

listed in the 2025 annual accounts, filed on 01-07-2026

Signing authority: “TITEL IV. BESTUUR - CONTROLE Artikel 11. Bestuursorgaan De vennootschap wordt bestuurd door één of meer bestuurders, natuurlijke personen of…”
deed of 04-07-2023

Office holders in the KBO →

Mandates through the years

1 name, the dashed line is today

Stefaan Demeulemeester
Director (not named in the articles)

BoardEarliermandate already running before its first mention

Mandates as a list

Stefaan Demeulemeester
- Director (not named in the articles), since before 31-12-2021
- Statutory manager, until 04-07-2023

See the board, name and registered office on a given date →

Control

See the annual accounts at the National Bank and the publications in the Belgian Official Gazette.

Capital

Contribution: €37,184.03
Source: 2025 annual accounts

Articles of association

deed of 04-07-2023 (in Dutch)

Duration: Unlimited
Annual meeting: Second Saturday of June at 14:00

Network & group

No group

PAPYRO has no parent and no holdings in its annual accounts. Stefaan Demeulemeester is the only director. PAPYRO shares no director with another company.

Timeline

39 events since 1994

Board

Filings

Financial

Establishments

1995200020052010201520202025

Deadline for the 2026 accounts: 31-07-2027

2026

01-07-2026

Annual accounts 2025 filed NBBmicro format · 30 days before the deadline

2025

17-06-2025

Annual accounts 2024 filed PDFmicro format · 44 days before the deadline

06-01-2025

Registered in the Peppol Directory Reachable for e-invoices through 0208:0452961987

2024

31-12-2024

Back to profit net €11,986 The net result is €11,986, after one loss-making year.

31-12-2024

Equity above €100,000 equity €105,737 ▲12.8% Equity rises from €93,751 to €105,737.

21-06-2024

Annual accounts 2023 filed PDFmicro format · 40 days before the deadline

2023

04-07-2023

Change of role: Stefaan Demeulemeester, from statutory manager to director“Bureelbenodigdheden kantoormaterieel schoolgerief; Speelgoed,kinderboeken en strips; Wenskaarten en posters…” (deed in Dutch) · Director discharge: Stefaan Demeulemeester · General meeting of 11-05-20236 points ▸

General meeting, 11-05-2023
1,500 shares
Director resignation, Stefaan Demeulemeester (statutory manager)
Director appointment, Stefaan Demeulemeester (director (not named in the articles))
Director discharge, Stefaan Demeulemeester
Registered office clause, Boterstraat 17
The deed holds 6 more points.

Open the deed in the Belgian Official Gazette

12-06-2023

Annual accounts 2022 filed PDFmicro format · 49 days before the deadline

2022

20-06-2022

Annual accounts 2021 filed PDFmicro format · 41 days before the deadline

2021

30-06-2021

Annual accounts 2020 filed PDFmicro format · 31 days before the deadline

2020

31-12-2020

Back to profit net €5,295 The net result is €5,295, after 2 loss-making years.

24-06-2020

Annual accounts 2019 filed PDFmicro format · 37 days before the deadline

2019

31-12-2019

Weakest financial year net -€11,410 The net result drops to -€11,410, the lowest from 2006 to 2025. It recovers the following year.

19-06-2019

Annual accounts 2018 filed PDFmicro format · 42 days before the deadline

2018

11-06-2018

Annual accounts 2017 filed PDFmicro format · 50 days before the deadline

2017

13-06-2017

Annual accounts 2016 filed PDFmicro format · 48 days before the deadline

2016

15-06-2016

Annual accounts 2015 filed PDFabbreviated format · 46 days before the deadline

2015

22-06-2015

Annual accounts 2014 filed PDFabbreviated format · 39 days before the deadline

2014

16-06-2014

Annual accounts 2013 filed PDFabbreviated format · 45 days before the deadline

2013

14-06-2013

Annual accounts 2012 filed PDFabbreviated format · 47 days before the deadline

2012

25-06-2012

Annual accounts 2011 filed PDFabbreviated format · 36 days before the deadline

2011

27-06-2011

Annual accounts 2010 filed PDFabbreviated format · 34 days before the deadline

2010

14-06-2010

Annual accounts 2009 filed PDFabbreviated format · 47 days before the deadline

2009

23-06-2009

Annual accounts 2008 filed PDFabbreviated format · 38 days before the deadline

2008

18-06-2008

Annual accounts 2007 filed PDFabbreviated format · 43 days before the deadline

2007

29-06-2007

Annual accounts 2006 filed PDFabbreviated format · 32 days before the deadline

2006

14-06-2006

Annual accounts 2005 filed PDFabbreviated format

2005

27-06-2005

Annual accounts 2004 filed PDFabbreviated format

2004

21-06-2004

Annual accounts 2003 filed PDFabbreviated format

2003

25-06-2003

Annual accounts 2002 filed PDFabbreviated format

2002

20-06-2002

Annual accounts 2001 filed PDFabbreviated format

2001

28-06-2001

Annual accounts 2000 filed PDFabbreviated format

2000

20-06-2000

Annual accounts 1999 filed PDFabbreviated format

1999

03-09-1999

Annual accounts 1998 filed PDFabbreviated format

1998

03-08-1998

Annual accounts 1997 filed PDFabbreviated format

1997

02-10-1997

Annual accounts 1996 filed PDFabbreviated format

1996

28-06-1996

Annual accounts 1995 filed PDFabbreviated format

1994

02-08-1994

First establishment PAPYRO BVBA, Boterstraat 17, Ypres

22-06-1994

Incorporation published on 14-07-1994

Financial milestones sit on the financial year-end date, not the filing date.

Sources: Publications in the Belgian Official Gazette Filings with the National Bank

History

PAPYRO was incorporated on 22 June 1994.¹ Stefaan Demeulemeester is director of the company, appointed by deed of 04-07-2023.² Total assets rose from €145,171 in 2018 to €167,341 in 2025 and headcount from 0.1 to 0.1 full-time equivalents.³

Company details

Identity

Enterprise number: 0452.961.987
VAT number: BE 0452.961.987
Peppol ID: 0208:0452961987
Other Peppol ID: 9925:BE0452961987
Legal form: Private limited company
Status: Active, normal situation
Founded: 22-06-1994
Financial year: ends on 31 December
Annual meeting: Second Saturday of June at 14:00
deed of 04-07-2023 (in Dutch)
Peppol: Reachable since 06-01-2025Follow this company and you will hear the next morning if it leaves the Peppol register.
Name: PAPYRO in Dutch
Entity type: Legal entity
Duration: Unlimited
deed of 04-07-2023 (in Dutch)
Registered office clause: “Vlaams Gewest”
deed of 04-07-2023 (in Dutch)

Activities

NACEBEL 2025

VAT activities

47621 Retail sale of newspapers and periodicals main activity

46496 Wholesale trade

46499 Wholesale of other household goods

47640 Retail sale of games and toys

47784 Retail sale of souvenirs and religious articles

Social security (RSZ) activities

47621 Retail sale of newspapers and periodicals main activity

Joint committees annual accounts 2025

JC 201 Independent retail

Codes under NACEBEL 2008

VAT activities

47620 Retail trade main activity

46496 Wholesale trade

46499 Wholesale of other household goods

47650 Retail trade

47786 Retail trade

Social security (RSZ) activities

47620 Retail trade main activity

Codes under NACEBEL 2003

VAT activities

52470 main activity

51476

51478

52489

52497

Social security (RSZ) activities

52470 main activity

Purpose: “Bureelbenodigdheden kantoormaterieel schoolgerief; Speelgoed,kinderboeken en strips; Wenskaarten en posters; Fantasie artikelen en…”
7 activities
Bureelbenodigdheden kantoormaterieel schoolgerief
Speelgoed,kinderboeken en strips
Wenskaarten en posters
Fantasie artikelen en allerhande prularia
Eveneens allerhande en aanverwante producten van de opgesomde producten
De studie het ontwerpen,het coördineren,het financieren en het raadgeven onder al haar vormen van industriële en handelsprojecten
Alle bewerkingen,industriële en commerciële,financiële en burgerlijke,roerend en onroerende die een rechtstreeks of onrechtstreeks verband hebben met het voorwerp of die de verwezenlijking ervan vergemakkelijken onder andere:huren,verhuren,vervreemden,ruilen en aanwerven van alle onroerende goederen,handels en nijverheidsfondsen,vergunningen en fabrieksmerken,een belang nemen door middel van associatie,inbreng of fusie,inschrijving,deelname of financiële tussenkomst in ondernemingen
deed of 04-07-2023 (in Dutch)

Registered office and establishments

1 establishment

Establishment	Since	Unit number
PAPYRO BVBA registered office Boterstraat 17, 8900 Ypres	02-08-1994	2.067.752.463

Buildings and parcels at the address

Ground area: 175 m²
Buildings: 165 m²
Volume, LiDAR: 1,495 m³
Tallest building: 16.8 m

Buildings to scale, each on its own parcel

registered office establishment The establishment unit on the map

Parcels

Cadastral parcel	Area	Buildings	Height / floors
33011I0066/00A000 ProtectedTownscape or village viewVismarkt en omgevingSource ↗	175 m²	1 · 165 m²	16.8 m · 3

1 of these parcels carries protected heritage. Expect extra rules on renovation or sale.

Overview

Lifetime

Key points

Turnover

Filings

Position in the sector

Checked score

Score breakdown

Comparable companies, two years later

Credit verdict

Signals

Board and ownership

Recent changes

Comparable companies

Official details

Annual accounts 2025

Insights on PAPYRO

Financials

Annual accounts 2025

Balance sheet

Change in equityin euro

Change in cashin euro

Position in the sector

Solvency69.5%

Current ratio3.19

Return on assets6.3%

Staff

Staff cost per FTE€6,755

Joined and leftlevel

Filed annual accounts

Filings

Key figures and ratios

Social balance sheet

Investments

Insights on PAPYRO

Board & ownership

Board

Mandates through the years

Control

Capital

Articles of association

Network & group

No group

Timeline

Timeline

History

Company details

Identity

Activities

Registered office and establishments

Buildings and parcels at the address

Location

Parcels

in euro

in euro

69.5%

3.19

6.3%

€6,755

level