PATICON
ActivePATICON has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €362k and a net result of €25k. Equity remains stable across the filed fiscal years (±1.1% per year). Its solvency ranks better than 44% of 37 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
67
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability72▲+2
Solvency63▲+1
Growth78=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €24k at 30 days acceptable
Liquidity ample (current ratio 3.79 against 4.24 in 2024; short-term debt: 8.9% and cash: 0.1% of total assets), but 62.3% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 17
Relative position
BE, all sectors
reference
Sector 17
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
37.7%
Return on assets
2.7%
Age of the figures
9 mo
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
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €362k
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 19-08-2026, 19 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
19 d late
2024
27 d late
2023
14 d early
2022
14 d early
2021
17 d early
2020
4 d early
2019
90 d late
← before the deadline
after the deadline →
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
19-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€362k▲ 7.6%
2024 · €336k
2018: €320k
2019: €312k
2020: €323k
2021: €319k
2022: €321k
2023: €326k
2024: €336k
2018 → 2025
Total assets
€959k▲ 5.1%
2024 · €913k
2018: €946k
2019: €909k
2020: €928k
2021: €925k
2022: €927k
2023: €916k
2024: €913k
2018 → 2025
Net result
€25k▲ 148%
2024 · €10k
2018: €-39k
2019: €-8k
2020: €11k
2021: €-4k
2022: €2k
2023: €5k
2024: €10k
2018 → 2025
Working capital
€239k▲ 13.5%
2024 · €210k
2018: €252k
2019: €214k
2020: €216k
2021: €208k
2022: €213k
2023: €214k
2024: €210k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€319k-€321k▲ 0.5%€326k▲ 1.6%€336k▲ 3.2%€362k▲ 7.6%
Operating result€-3k-€2k€5k▲ 215%€11k▲ 93.4%€35k▲ 236%
Net result€-4k-€2k€5k▲ 246%€10k▲ 97.0%€25k▲ 148%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2025 is 236% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €959k
Fixed assets
€635k▼ 0.4%
Current assets
€324k▲ 17.8%
Equity and liabilities €959k
Equity
€362k▲ 7.6%
Debt
€598k▲ 3.6%
The debt ratio falls from 63.2% to 62.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€38k▲
2024 · €13k
Cash flow
€28k▲
2024 · €13k
Solvency
37.7%▲
2024 · 36.8%
Current ratio
3.79▼
2024 · 4.24
Quick ratio
3.44▼
2024 · 3.78
Debt / equity
1.65▼
2024 · 1.72
ROE
7.1%▲
2024 · 3.1%
ROA
2.7%▲
2024 · 1.1%
Interest coverage
116.50▲
2024 · 56.74
Debt
€598k▲
2024 · €577k
Debt ≤ 1 year
€86k▲
2024 · €65k
Debt > 1 year
€512k=
2024 · €512k
Income taxes
€10k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€913k€959k▲
Fixed assets21/28€638k€635k▼
Tangible fixed assets22/27€638k€635k▼
Plant, machinery and equipment23€633k€633k=
Furniture and vehicles24€5k€2k▼
Current assets29/58€275k€324k▲
Stocks and contracts in progress3€30k€30k=
Stocks30/36€30k€30k=
Amounts receivable within one year40/41€244k€293k▲
Trade receivables40€243k€291k▲
Other amounts receivable41€2k€2k=
Cash at bank and in hand54/58€1k€1k▲
Equity and liabilities
Total equity and liabilities10/49€913k€959k▲
Equity10/15€336k€362k▲
Contributions10/11€1.79M€1.79M=
Profit (loss) carried forward14€-1.45M€-1.42M▲
Amounts payable17/49€577k€598k▲
Amounts payable after more than one year17€512k€512k=
Financial debts170/4€512k€512k=
Amounts payable within one year42/48€65k€86k▲
Trade debts44€62k€66k▲
Suppliers440/4€62k€66k▲
Taxes, remuneration and social security45€3k€17k▲
Taxes450/3€3k€17k▲
Other amounts payable47/48€99€2k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€3k€3k=
Other operating charges640/8€287€1k▲
Gross operating margin9900€14k€39k▲
Operating profit (loss)9901€11k€35k▲
Financial charges65/66B€235€328▲
Recurring financial charges65€235€328▲
Profit (loss) for the period before taxes9903€10k€35k▲
Income taxes67/77-€10k
Profit (loss) for the period9904€10k€25k▲
Profit (loss) for the period to be appropriated9905€10k€25k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-1.45M€-1.42M▲
Profit (loss) brought forward from the previous period14P€-1.46M€-1.45M▲
The notes to these accounts (7 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
19-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 19 days late
2025
31-12
Financial
Highest result since 2018net €25k ▲148%
Operating result €35k, net result €25k, both a record.
27-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 27 days late
2024
17-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
17-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Back to profitnet €2k
Net result €2k after one loss-making year.
14-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
27-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Back to profitnet €11k
Net result €11k after 2 loss-making years.
29-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 90 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
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
5 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, Lebbeke · 1 establishment unit since 2012
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.
Bellestraat 579280 LebbekeGround area
830 m²
Building footprint
279 m²
Volume, LiDAR
1,198 m³
Parcel 42011A0209/00B000, Flanders · tallest building 8.0 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Bellestraat 57, 9280 Lebbeke
since 20122.207.597.165
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 42011A0209/00B000 | Flanders | 830 m² | 1 · 279 m² | 8.0 m · 1 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.
Similar companies · same sector, comparable size
BAUSAC
BE 0418.192.932
Saint-Ghislain · Eq €314k
EUROFILTERS
BE 0417.856.105
Pelt · Eq €256k
EUROPOCHETTE
BE 0472.680.604
Beveren-Kruibeke-Zwijndrecht · Eq €218k
HAPPY PAPER
BE 0406.946.969
Enghien · Eq €188k
EUTIMA
BE 0415.412.891
Eeklo · Eq €911k
Of 26 companies in sector 17220 we hold annual accounts for 17. 10 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded13-03-2012
Fiscal year end31-12
Activities, NACEBEL
17220Manufacture of paper and paper products
17210Manufacture of paper and paper products
46150Agents in the wholesale of furniture, household goods and hardware
46493Wholesale trade
46499Wholesale of other household goods
77399Renting and leasing of other machinery, equipment and tangible goods
Sources
Crossroads Bank for EnterprisesNational Bank · 13 filingsAddress and cadastre registers
Data from official sources, last processed on 19-09-2026. Scores and ratios are computed by Checked and are not a credit decision.