PAPYRUS
ActiveSummary
PAPYRUS has been active since 1992 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €39k and a net result of €5k. Equity is shrinking by ~6.8% per year across the filed fiscal years. Its solvency ranks better than 39% of 18280 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
63
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability47▲+37
Solvency46▼-1
Growth32=
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2k at 30 days acceptable
Liquidity ample (current ratio 2.04 against 1.9 in 2024; short-term debt: 31.4% and cash: 26.1% of total assets), but 78.9% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Sector 47
higher
← fewer bankruptcies
more bankruptcies →
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
21.1%
Return on assets
2.6%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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
31 d late
2024
30 d late
2023
61 d late
2022
32 d late
2021
121 d late
2020
31 d late
2019
48 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
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
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€39k▲ 14.4%
2024 · €34k
2018: €50k
2019: €60k
2020: €70k
2021: €71k
2022: €53k
2023: €45k
2024: €34k
2018 → 2025
Total assets
€186k▲ 18.2%
2024 · €158k
2018: €163k
2019: €167k
2020: €180k
2021: €165k
2022: €163k
2023: €158k
2024: €158k
2018 → 2025
Net result
€5k
2024 · €-11k
2018: €11k
2019: €10k
2020: €10k
2021: €979
2022: €-17k
2023: €-8k
2024: €-11k
2018 → 2025
Working capital
€61k▲ 35.5%
2024 · €45k
2018: €20k
2019: €20k
2020: €31k
2021: €24k
2022: €23k
2023: €30k
2024: €45k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€71k-€53k▼ 24.7%€45k▼ 14.5%€34k▼ 24.5%€39k▲ 14.4%
Operating result€5k-€-14k€-4k▲ 71.1%€-7k▼ 82.5%€9k
Net result€979-€-17k€-8k▲ 55.8%€-11k▼ 44.4%€5k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €9k after a loss of €7k in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €186k
Fixed assets
€67k ▲ 7.0%
Current assets
€120k ▲ 25.6%
Equity and liabilities €186k
Equity
€39k ▲ 14.4%
Debt
€147k ▲ 19.3%
Debt's share of the balance-sheet total rises from 78.2% to 78.9%. Equity and debt are higher.
Key figures and ratios
EBITDA
€14k▲
2024 · €-3k
Cash flow
€9k▲
2024 · €-7k
Current ratio
2.04▲
2024 · 1.90
Quick ratio
1.10▲
2024 · 0.94
Debt to equity
3.75▲
2024 · 3.59
ROE
12.6%▲
2024 · -32.5%
ROA
2.6%▲
2024 · -7.1%
Interest coverage
2.97▲
2024 · -0.83
Debt ≤ 1 year
€59k▲
2024 · €50k
Debt > 1 year
€88k▲
2024 · €73k
Staff costs
€43k▲
2024 · €41k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 48 lines
Balance sheet
Code20242025
Assets
Total assets20/58€158k€186k▲
Fixed assets21/28€62k€67k▲
Tangible fixed assets22/27€62k€67k▲
Land and buildings22€62k€67k▲
Plant, machinery and equipment23€119-
Financial fixed assets28€124€124=
Current assets29/58€95k€120k▲
Stocks and contracts in progress3€48k€55k▲
Stocks30/36€48k€55k▲
Amounts receivable within one year40/41€401€3k▲
Trade receivables40€396€3k▲
Other amounts receivable41€6€142▲
Cash at bank and in hand54/58€34k€49k▲
Deferred charges and accrued income490/1€13k€13k▼
Equity and liabilities
Total equity and liabilities10/49€158k€186k▲
Equity10/15€34k€39k▲
Contributions10/11€45k€45k=
Reserves13€27k€27k=
Tax-exempt reserves132€9k€9k=
Distributable reserves133€18k€18k=
Profit (loss) carried forward14€-38k€-33k▲
Amounts payable17/49€123k€147k▲
Amounts payable after more than one year17€73k€88k▲
Financial debts170/4-€5k
Other amounts payable178/9€73k€83k▲
Amounts payable within one year42/48€50k€59k▲
Current portion of amounts payable after more than one year42€2k€3k▲
Financial debts43€10k-
Credit institutions430/8€10k-
Trade debts44€25k€41k▲
Suppliers440/4€25k€41k▲
Taxes, remuneration and social security45€13k€15k▲
Taxes450/3€244€900▲
Remuneration and social security454/9€13k€14k▲
Income statement
Code20242025
Remuneration, social security and pensions62€41k€43k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€4k€4k▼
Other operating charges640/8€2k€2k▲
Gross operating margin9900€40k€58k▲
Operating profit (loss)9901€-7k€9k▲
Financial income75/76B€1€52▲
Recurring financial income75€1€52▲
Financial charges65/66B€4k€5k▲
Recurring financial charges65€4k€5k▲
Profit (loss) for the period before taxes9903€-11k€5k▲
Profit (loss) for the period9904€-11k€5k▲
Profit (loss) for the period to be appropriated9905€-11k€5k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-38k€-33k▲
Profit (loss) brought forward from the previous period14P€-27k€-38k▼
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
31-12
Financial
Back to profitnet €5k
Net result €5k after 3 loss-making years.
30-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 30 days late
2024
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 61 days late
2023
01-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 32 days late
2022
31-12
Financial
Weakest financial yearnet €-17k ▼1885%
Net result drops to €-17k, the lowest in the series; recovery starts the following year.
29-11
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 121 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
17-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 48 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 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, Linter · 1 establishment unit since 1993
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.
Grote Steenweg(NRL) 3413350 LinterGround area
355 m²
Building footprint
210 m²
Volume, LiDAR
1,020 m³
Parcel 24022D0080/00T000, Flanders · tallest building 8.2 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
PAPYRUS BVBA
since 19932.060.704.820
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24022D0080/00T000 | Flanders | 355 m² | 1 · 210 m² | 8.2 m · 2 fl. |
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.
Public money · subsidies and aid
Flemish government
2025 · 1 entry · 2,420 EUR awarded · 2,420 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 2,420 EUR | 2,420 EUR |
Schemes
Retroactieve investeringspremie voor eigenaars van zonnepanelen na afschaffing van terugdraaiende teller
Similar companies · same sector, comparable size
SATTLERHOF INVESTMENT GROUP
BE 0422.295.735
Vorst · Eq €39,271
LEEN - PAPIERHANDEL
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RTS
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Postpunt Grewal Express
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TABACCHI
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Of 2,348 companies in sector 47621 we hold annual accounts for 1,246. 1,072 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company (pre-2019)
Founded17-11-1992
Fiscal year end31-12
Activities, NACEBEL 2025
47621Retail sale of newspapers and periodicals
47241Retail sale of bread and pastry (bakery outlets)
47252Retail sale of beverages, general range
47750Retail sale of cosmetics and toilet articles
47781Retail sale of solid, liquid and gaseous fuels, excluding motor fuels
Sources
Crossroads Bank for EnterprisesNational Bank · 33 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.