PAULIMAX
ActiveSummary
PAULIMAX has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3.4m and a net result of €1.4m. Equity is growing by ~4% per year across the filed fiscal years. Its solvency ranks better than 77% of 8763 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability50▼-24
Solvency100▲+6
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €300,000 at 30 days acceptable
Liquidity ample (current ratio 27.65 against 8.42 in 2024; short-term debt: 2% and cash: 46.1% of total assets), and 18.2% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← 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
81.8%
Return on assets
33.7%
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
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 d early
2024
1 d early
2023
1 d early
2022
34 d early
2021
31 d early
2020
12 d early
2019
28 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 17 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
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. Usually files around 20 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€3.4m▲ 67.7%
2024 · €2.0m
Total assets
€4.2m▲ 42.4%
2024 · €2.9m
Net result
€1.4m▲ 972%
2024 · €130,691
Working capital
€2.2m▲ 363%
2024 · €467,315
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€3,008▼ 96.6%-€81,131-€62,270▲ 23.2%€145,539-€73,376
Net result-€5,451below the sector's middle half-€56,201below the sector's middle half▼ 931%-€58,303below the sector's middle half▼ 3.7%€130,691within the sector's middle half€1.4mabove the sector's middle half▲ 972%
Equity€2.1mabove the sector's middle half▼ 2.5%€2.0mabove the sector's middle half▼ 2.7%€1.9mabove the sector's middle half▼ 4.0%€2.0mabove the sector's middle half▲ 5.7%€3.4mabove the sector's middle half▲ 67.7%
Total assets€2.3mwithin the sector's middle half▼ 2.1%€2.3mwithin the sector's middle half▼ 0.6%€2.6mwithin the sector's middle half▲ 15.6%€2.9mwithin the sector's middle half▲ 12.2%€4.2mabove the sector's middle half▲ 42.4%
Debt€209,201▲ 2.0%€250,708▲ 19.8%€681,705▲ 172%€891,026▲ 30.7%€755,263▼ 15.2%
Working capital€1.7mabove the sector's middle half▼ 2.9%€1.6mabove the sector's middle half▼ 2.7%€739,401above the sector's middle half▼ 54.2%€467,315above the sector's middle half▼ 36.8%€2.2mabove the sector's middle half▲ 363%
Solvency90.8%above the sector's middle half▼ 0.4pp88.9%above the sector's middle half▼ 1.9pp73.8%within the sector's middle half▼ 15.1pp69.5%within the sector's middle half▼ 4.3pp81.8%above the sector's middle half▲ 12.3pp
Current ratio26.62above the sector's middle half▼ 2.5316.17above the sector's middle half▼ 10.4520.69above the sector's middle half▲ 4.528.42above the sector's middle half▼ 12.2827.65above the sector's middle half▲ 19.23
Return on assets (ROA)-0.2%below the sector's middle half▼ 2.8pp-2.5%below the sector's middle half▼ 2.3pp-2.2%below the sector's middle half▲ 0.3pp4.5%within the sector's middle half▲ 6.7pp33.7%above the sector's middle half▲ 29.2pp
Staff (FTE)0within the sector's middle half0within the sector's middle half0within the sector's middle half
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €73,376 after €145,539 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.2m
Fixed assets
€1.9m ▼ 19.9%
Current assets
€2.2m ▲ 323%
Equity and liabilities €4.2m
Equity
€3.4m ▲ 67.7%
Debt
€755,263 ▼ 15.2%
Debt's share of the balance-sheet total falls from 30.5% to 18.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
-€8,404▼
2024 · €296,237
Cash flow
€1.5m▲
2024 · €281,388
Debt to equity
0.22▼
2024 · 0.44
ROE
41.2%▲
2024 · 6.4%
Interest coverage
-1.12▼
2024 · 1092.24
Debt ≤ 1 year
€81,131▲
2024 · €62,998
Debt > 1 year
€673,154▼
2024 · €828,028
Income taxes
€20,000▼
2024 · €22,960
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 20,129 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
4.7%
stopped otherwise
95%
still going
For this company itself Checked computes a bankruptcy probability of 0.1% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 20,129 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €3,500 | €31,978 | €115 | €152,435 | €32,026 | ▼ 79.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,359 | €29,072 | €62,992 | €150,697 | €64,972 | ▼ 56.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €605 | €0 | - | - |
| Other operating charges640/8 | €1,586 | €1,632 | €2,644 | €5,121 | €3,570 | ▼ 30.3% |
| Gross operating margin9900 | €8,952 | -€50,428 | €3,971 | €301,357 | -€4,834 | ▼ 102% |
| Operating profit (loss)9901 | €3,008 | -€81,131 | -€62,270 | €145,539 | -€73,376 | ▼ 150% |
| Financial income75/76B | €420 | €25,420 | €4,440 | €8,382 | €1.5m | ▲ 17,823% |
| Recurring financial income75 | €420 | €25,420 | €4,440 | €8,382 | €1.5m | ▲ 17,823% |
| Financial charges65/66B | €8,596 | €216 | €218 | €271 | €7,513 | ▲ 2,670% |
| Recurring financial charges65 | €8,596 | €216 | €218 | €271 | €7,513 | ▲ 2,670% |
| Profit (loss) for the period before taxes9903 | -€5,168 | -€55,928 | -€58,047 | €153,650 | €1.4m | ▲ 825% |
| Income taxes67/77 | €283 | €273 | €256 | €22,960 | €20,000 | ▼ 12.9% |
| Profit (loss) for the period9904 | -€5,451 | -€56,201 | -€58,303 | €130,691 | €1.4m | ▲ 972% |
| Profit (loss) for the period to be appropriated9905 | -€5,451 | -€56,201 | -€58,303 | €130,691 | €1.4m | ▲ 972% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.3m | €2.3m | €2.6m | €2.9m | €4.2m | ▲ 42.4% |
| Fixed assets21/28 | €542,301 | €530,640 | €1.8m | €2.4m | €1.9m | ▼ 19.9% |
| Tangible fixed assets22/27 | €35,301 | €23,640 | €1.3m | €1.9m | €1.9m | ▲ 1.7% |
| Land and buildings22 | - | - | €1.3m | €1.8m | €1.8m | ▲ 0.1% |
| Plant, machinery and equipment23 | - | - | €27,018 | €28,932 | €41,973 | ▲ 45.1% |
| Furniture and vehicles24 | €35,301 | €23,640 | €22,730 | €24,910 | €41,537 | ▲ 66.7% |
| Financial fixed assets28 | €507,000 | €507,000 | €507,000 | €507,000 | €0 | ▼ 100% |
| Current assets29/58 | €1.7m | €1.7m | €776,945 | €530,313 | €2.2m | ▲ 323% |
| Amounts receivable after more than one year29 | €21,000 | €21,000 | €295,866 | €287,418 | €278,725 | ▼ 3.0% |
| Trade receivables290 | €21,000 | €21,000 | €295,866 | €287,418 | €278,725 | ▼ 3.0% |
| Amounts receivable within one year40/41 | €12,477 | €20,673 | €37,448 | €7,535 | €18,861 | ▲ 150% |
| Trade receivables40 | €7,615 | €11,186 | €32,500 | €7,411 | €3,595 | ▼ 51.5% |
| Other amounts receivable41 | €4,863 | €9,487 | €4,948 | €124 | €15,265 | ▲ 12,214% |
| Cash at bank and in hand54/58 | €1.7m | €1.7m | €422,659 | €220,330 | €1.9m | ▲ 771% |
| Deferred charges and accrued income490/1 | €6,667 | €24,778 | €20,972 | €15,030 | €27,000 | ▲ 79.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.3m | €2.3m | €2.6m | €2.9m | €4.2m | ▲ 42.4% |
| Equity10/15 | €2.1m | €2.0m | €1.9m | €2.0m | €3.4m | ▲ 67.7% |
| Contributions10/11 | €212,400 | €212,400 | €212,400 | €212,400 | €212,400 | = |
| Reserves13 | €1.8m | €1.8m | €1.7m | €1.8m | €3.2m | ▲ 75.6% |
| Non-distributable reserves130/1 | €21,860 | €21,860 | €0 | - | - | - |
| Reserves not available under the articles1311 | €21,860 | €21,860 | €0 | - | - | - |
| Distributable reserves133 | €1.8m | €1.8m | €1.7m | €1.8m | €3.2m | ▲ 75.6% |
| Profit (loss) carried forward14 | - | - | €0 | €0 | €0 | - |
| Amounts payable17/49 | €209,201 | €250,708 | €681,705 | €891,026 | €755,263 | ▼ 15.2% |
| Amounts payable after more than one year17 | €144,160 | €144,160 | €644,160 | €828,028 | €673,154 | ▼ 18.7% |
| Financial debts170/4 | €144,160 | €144,160 | €644,160 | €828,028 | €673,154 | ▼ 18.7% |
| Amounts payable within one year42/48 | €64,768 | €106,419 | €37,545 | €62,998 | €81,131 | ▲ 28.8% |
| Current portion of amounts payable after more than one year42 | - | - | - | €10,315 | €10,714 | ▲ 3.9% |
| Financial debts43 | €132 | €365 | €1,044 | €948 | €1,077 | ▲ 13.6% |
| Credit institutions430/8 | €132 | €365 | €1,044 | €948 | €1,077 | ▲ 13.6% |
| Trade debts44 | €5,813 | €56,138 | €14,342 | €2,445 | €21,792 | ▲ 791% |
| Suppliers440/4 | €5,813 | €56,138 | €14,342 | €2,445 | €21,792 | ▲ 791% |
| Taxes, remuneration and social security45 | €22,969 | €3,298 | €896 | €27,468 | €19,625 | ▼ 28.6% |
| Taxes450/3 | €20,910 | €3,298 | €896 | €27,468 | €19,625 | ▼ 28.6% |
| Remuneration and social security454/9 | €2,059 | - | - | - | - | - |
| Other amounts payable47/48 | €35,854 | €46,617 | €21,263 | €21,822 | €27,923 | ▲ 28.0% |
| Accrued charges and deferred income492/3 | €273 | €129 | €0 | - | €977 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€5,451 | -€56,201 | -€58,303 | €130,691 | €1.4m | ▲ 972% |
| + Depreciation and write-downs630 | €4,359 | €29,072 | €62,992 | €150,697 | €64,972 | ▼ 56.9% |
| Operating cash flow (approximation) | -€1,093 | -€27,129 | €4,688 | €281,388 | €1.5m | ▲ 421% |
| Investment in fixed assets (approximation) | - | -€17,410 | -€1.4m | -€715,658 | €410,030 | ▲ 157% |
| Change in cash | - | -€29,339 | -€1.2m | -€202,330 | €1.7m | ▲ 939% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
20-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Highest result since 2018net €1.4m ▲972%
Net result €1.4m, the highest in the series.
31-12
Financial
Liquidity triplescurrent ratio 27.65
Current ratio from 8.42 to 27.65.
30-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Back to profitnet €130,691
Net result €130,691 after 3 loss-making years.
31-12
Financial
Equity above €2mEq €2.0m ▲5.7%
Equity rises from €1.9m to €2.0m.
30-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Weakest financial yearnet -€58,303
Net result drops to -€58,303, the lowest in the series; recovery starts the following year.
27-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
30-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
19-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
03-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
Show earlier events
2019
31-12
Financial
Liquidity times 7current ratio 18.33
Current ratio from 2.64 to 18.33.
31-12
Financial
Equity above €2mEq €2.1m ▲118%
2 profitable years in a row build equity to €2.1m.
31-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
26-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
14-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
4 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, Halle · 1 establishment unit since 2003
Ground area
1,992 m²
Building footprint
373 m²
Volume, LiDAR
2,547 m³
Parcel 23027D0426/00F000, Flanders · tallest building 11.2 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
PAULIMAX
since 20032.132.419.096
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23027D0426/00F000 | Flanders | 1,992 m² | 1 · 373 m² | 11.2 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
1 holdingOwners 0
The accounts to 31-12-2024 list no shareholders, and no other source names one.
Holdings 1
-
50%
According to the 2024 annual accounts of PAULIMAX and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Identification & contact
Identification
Legal formPrivate limited company
Founded06-01-2003
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0479233646
Also
9925:BE0479233646
Registered
10-10-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.