Paulus Stuart
ActiveSummary
Paulus Stuart has been active since 1970 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €112k and a net result of €-49k. Equity is shrinking by ~14.2% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2028. Its solvency ranks better than 20% of 8048 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability11▲+4
Solvency39▼-4
Growth32=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4k at 30 days only on tighter terms
Liquidity tight (current ratio 1.17 against 1.29 in 2024; short-term debt: 83.6% and cash: 0.8% of total assets), and 86.5% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six 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 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-49k
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 20% of 8048 sector peers (2025).
NBB · sector comparisonPosition among 8048 sector peers
Solvency
better than 20%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 27-08-2026, 27 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
27 d late
2024
14 d late
2023
6 d early
2022
4 d early
2021
4 d early
2020
11 d late
2019
18 d early
← 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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-49k▲ 43.2%
2024 · €-86k
2018: €37k
2019: €-2k▼ -107% vs 2018
2020: €65k▲ +2757% vs 2019
2021: €79k▲ +20.9% vs 2020highest in 8 years
2022: €-275k▼ -449% vs 2021lowest in 8 years
2023: €-50k▲ +81.8% vs 2022
2024: €-86k▼ -72.5% vs 2023
2025: €-49k▲ +43.2% vs 2024
2018 → 2025
Working capital
€120k▼ 38.5%
2024 · €195k
2018: €409k
2019: €372k▼ -9.0% vs 2018
2020: €653k▲ +75.5% vs 2019highest in 8 years
2021: €533k▼ -18.3% vs 2020
2022: €257k▼ -51.8% vs 2021
2023: €224k▼ -13.1% vs 2022
2024: €195k▼ -12.8% vs 2023
2025: €120k▼ -38.5% vs 2024lowest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€572k-€298k▼ 48.0%€247k▼ 16.8%€161k▼ 34.9%€112k▼ 30.4%
2021: €572khighest in 5 years
2022: €298k▼ -48.0% vs 2021
2023: €247k▼ -16.8% vs 2022
2024: €161k▼ -34.9% vs 2023
2025: €112k▼ -30.4% vs 2024lowest in 5 years
Operating result€131k-€-249k€-4k▲ 98.4%€-55k▼ 1,306%€-27k▲ 52.1%
2021: €131khighest in 5 years
2022: €-249k▼ -290% vs 2021lowest in 5 years
2023: €-4k▲ +98.4% vs 2022
2024: €-55k▼ -1306% vs 2023
2025: €-27k▲ +52.1% vs 2024
Net result€79k-€-275k€-50k▲ 81.8%€-86k▼ 72.5%€-49k▲ 43.2%
2021: €79khighest in 5 years
2022: €-275k▼ -449% vs 2021lowest in 5 years
2023: €-50k▲ +81.8% vs 2022
2024: €-86k▼ -72.5% vs 2023
2025: €-49k▲ +43.2% vs 2024
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €27k in 2025 against €55k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €830k
Fixed assets
€17k ▼ 23.8%
Current assets
€813k ▼ 5.4%
Equity and liabilities €830k
Equity
€112k ▼ 30.4%
Debt
€718k ▼ 0.4%
Debt's share of the balance-sheet total rises from 81.7% to 86.5%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-21k▲
2024 · €-43k
Cash flow
€-43k▲
2024 · €-74k
Current ratio
1.17▼
2024 · 1.29
Quick ratio
0.29▼
2024 · 0.38
Debt to equity
6.40▲
2024 · 4.47
ROE
-43.7%▲
2024 · -53.6%
ROA
-5.9%▲
2024 · -9.8%
Interest coverage
-0.82▲
2024 · -1.34
Debt ≤ 1 year
€693k▲
2024 · €665k
Debt > 1 year
€24k▼
2024 · €56k
Income taxes
€210▼
2024 · €390
Staff costs
€534k▼
2024 · €625k
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 · 54 lines
Balance sheet
Code20242025
Assets
Total assets20/58€882k€830k▼
Fixed assets21/28€22k€17k▼
Tangible fixed assets22/27€15k€10k▼
Plant, machinery and equipment23€10k€8k▼
Furniture and vehicles24€5k€1k▼
Financial fixed assets28€7k€7k=
Current assets29/58€860k€813k▼
Stocks and contracts in progress3€609k€613k▲
Stocks30/36€609k€613k▲
Amounts receivable within one year40/41€231k€183k▼
Trade receivables40€216k€167k▼
Other amounts receivable41€15k€16k▲
Cash at bank and in hand54/58€9k€6k▼
Deferred charges and accrued income490/1€11k€11k▲
Equity and liabilities
Total equity and liabilities10/49€882k€830k▼
Equity10/15€161k€112k▼
Contributions10/11€100k€100k=
Reserves13€117k€117k=
Tax-exempt reserves132€20k€20k=
Distributable reserves133€98k€98k=
Profit (loss) carried forward14€-56k€-105k▼
Amounts payable17/49€720k€718k▼
Amounts payable after more than one year17€56k€24k▼
Financial debts170/4€56k€24k▼
Amounts payable within one year42/48€665k€693k▲
Current portion of amounts payable after more than one year42€19k€41k▲
Financial debts43€200k€262k▲
Credit institutions430/8€191k€260k▲
Other loans439€9k€3k▼
Trade debts44€149k€203k▲
Suppliers440/4€149k€203k▲
Taxes, remuneration and social security45€268k€162k▼
Taxes450/3€103k€42k▼
Remuneration and social security454/9€164k€120k▼
Other amounts payable47/48€29k€25k▼
Accrued charges and deferred income492/3€0€35▲
Income statement
Code20242025
Non-recurring operating income76A-€3k
Remuneration, social security and pensions62€625k€534k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€12k€6k▼
Other operating charges640/8€3k€7k▲
Non-recurring operating charges66A€6k€2k▼
Gross operating margin9900€592k€523k▼
Operating profit (loss)9901€-55k€-27k▲
Financial income75/76B€2k€3k▲
Recurring financial income75€2k€3k▲
Financial charges65/66B€32k€25k▼
Recurring financial charges65€32k€25k▼
Profit (loss) for the period before taxes9903€-86k€-49k▲
Income taxes67/77€390€210▼
Profit (loss) for the period9904€-86k€-49k▲
Profit (loss) for the period to be appropriated9905€-86k€-49k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-56k€-105k▼
Profit (loss) brought forward from the previous period14P€30k€-56k▼
Social balance
Average headcount (FTE)90879.78.4▼
The notes to these accounts (22 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €3k | - |
| Remuneration, social security and pensions62 | €706k | €757k | €635k | €625k | €534k | ▼ 14.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €31k | €25k | €22k | €12k | €6k | ▼ 52.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €16k | €0 | - | - | - |
| Other operating charges640/8 | €2k | €10k | €2k | €3k | €7k | ▲ 118% |
| Non-recurring operating charges66A | - | - | €47k | €6k | €2k | ▼ 70.1% |
| Gross operating margin9900 | €870k | €559k | €702k | €592k | €523k | ▼ 11.7% |
| Operating profit (loss)9901 | €131k | €-249k | €-4k | €-55k | €-27k | ▲ 52.1% |
| Financial income75/76B | €1k | €2k | €2k | €2k | €3k | ▲ 86.7% |
| Recurring financial income75 | €1k | €2k | €2k | €2k | €3k | ▲ 86.7% |
| Financial charges65/66B | €26k | €28k | €47k | €32k | €25k | ▼ 21.5% |
| Recurring financial charges65 | €26k | €28k | €47k | €32k | €25k | ▼ 21.5% |
| Profit (loss) for the period before taxes9903 | €106k | €-274k | €-49k | €-86k | €-49k | ▲ 43.2% |
| Income taxes67/77 | €28k | €337 | €826 | €390 | €210 | ▼ 46.0% |
| Profit (loss) for the period9904 | €79k | €-275k | €-50k | €-86k | €-49k | ▲ 43.2% |
| Profit (loss) for the period to be appropriated9905 | €79k | €-275k | €-50k | €-86k | €-49k | ▲ 43.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.21M | €1.02M | €959k | €882k | €830k | ▼ 5.9% |
| Fixed assets21/28 | €62k | €50k | €31k | €22k | €17k | ▼ 23.8% |
| Tangible fixed assets22/27 | €55k | €43k | €24k | €15k | €10k | ▼ 34.9% |
| Plant, machinery and equipment23 | €21k | €24k | €14k | €10k | €8k | ▼ 16.3% |
| Furniture and vehicles24 | €34k | €19k | €10k | €5k | €1k | ▼ 71.6% |
| Financial fixed assets28 | €7k | €7k | €7k | €7k | €7k | = |
| Current assets29/58 | €1.15M | €973k | €928k | €860k | €813k | ▼ 5.4% |
| Stocks and contracts in progress3 | €695k | €574k | €575k | €609k | €613k | ▲ 0.7% |
| Stocks30/36 | €695k | €574k | €575k | €609k | €613k | ▲ 0.7% |
| Amounts receivable within one year40/41 | €430k | €383k | €333k | €231k | €183k | ▼ 21.0% |
| Trade receivables40 | €419k | €364k | €324k | €216k | €167k | ▼ 22.8% |
| Other amounts receivable41 | €11k | €19k | €10k | €15k | €16k | ▲ 6.7% |
| Cash at bank and in hand54/58 | €8k | €3k | €6k | €9k | €6k | ▼ 31.4% |
| Deferred charges and accrued income490/1 | €14k | €14k | €14k | €11k | €11k | ▲ 2.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.21M | €1.02M | €959k | €882k | €830k | ▼ 5.9% |
| Equity10/15 | €572k | €298k | €247k | €161k | €112k | ▼ 30.4% |
| Contributions10/11 | €100k | €100k | €100k | €100k | €100k | = |
| Reserves13 | €117k | €117k | €117k | €117k | €117k | = |
| Non-distributable reserves130/1 | €31k | €31k | €0 | - | - | - |
| Reserves not available under the articles1311 | €31k | €31k | €0 | - | - | - |
| Tax-exempt reserves132 | €20k | €20k | €20k | €20k | €20k | = |
| Distributable reserves133 | €66k | €66k | €98k | €98k | €98k | = |
| Profit (loss) carried forward14 | €355k | €80k | €30k | €-56k | €-105k | ▼ 87.0% |
| Amounts payable17/49 | €638k | €726k | €711k | €720k | €718k | ▼ 0.4% |
| Amounts payable after more than one year17 | €23k | €10k | €2k | €56k | €24k | ▼ 56.2% |
| Financial debts170/4 | €23k | €10k | €2k | €56k | €24k | ▼ 56.2% |
| Amounts payable within one year42/48 | €615k | €716k | €705k | €665k | €693k | ▲ 4.3% |
| Current portion of amounts payable after more than one year42 | €18k | €13k | €8k | €19k | €41k | ▲ 113% |
| Financial debts43 | €167k | €283k | €314k | €200k | €262k | ▲ 31.0% |
| Credit institutions430/8 | €144k | €281k | €286k | €191k | €260k | ▲ 35.6% |
| Other loans439 | €23k | €2k | €28k | €9k | €3k | ▼ 71.0% |
| Trade debts44 | €233k | €231k | €180k | €149k | €203k | ▲ 36.3% |
| Suppliers440/4 | €233k | €231k | €180k | €149k | €203k | ▲ 36.3% |
| Advances received on contracts in progress46 | €10k | €0 | - | - | - | - |
| Taxes, remuneration and social security45 | €182k | €158k | €171k | €268k | €162k | ▼ 39.4% |
| Taxes450/3 | €86k | €59k | €77k | €103k | €42k | ▼ 59.4% |
| Remuneration and social security454/9 | €95k | €100k | €95k | €164k | €120k | ▼ 26.7% |
| Other amounts payable47/48 | €5k | €30k | €32k | €29k | €25k | ▼ 14.2% |
| Accrued charges and deferred income492/3 | €0 | - | €5k | €0 | €35 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €79k | €-275k | €-50k | €-86k | €-49k | ▲ 43.2% |
| + Depreciation and write-downs630 | €31k | €25k | €22k | €12k | €6k | ▼ 52.7% |
| Operating cash flow (approximation) | €109k | €-250k | €-28k | €-74k | €-43k | ▲ 41.7% |
| Investment in fixed assets (approximation) | - | €-14k | €-3k | €-3k | €-627 | ▲ 82.0% |
| Change in cash | - | €-5k | €3k | €3k | €-3k | ▼ 192% |
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
27-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 27 days late
2025
14-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 14 days late
2024
25-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
27-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Weakest financial yearnet €-275k
Net result drops to €-275k, the lowest in the series; recovery starts the following year.
27-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Highest result since 2018net €79k ▲20.9%
Operating result €131k, net result €79k, both a record.
31-12
Financial
Equity above €500kEq €572k ▲15.9%
2 profitable years in a row build equity to €572k.
11-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 11 days late
2020
31-12
Financial
Back to profitnet €65k
Net result €65k after one loss-making year.
13-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
22-05
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
08-05
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
30-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
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, Anderlecht · 1 establishment unit since 1970
Ground area
389 m²
Building footprint
197 m²
Volume, LiDAR
1,953 m³
Parcel 21304B0131/00W005, Brussels · tallest building 13.5 m, ±4 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Ropsy Chaudronstraat 9, 1070 Anderlecht
since 19702.006.951.378
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21304B0131/00W005 | Brussels | 389 m² | 1 · 197 m² | 13.5 m · 4 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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteAnderlecht2.006.951.378
Similar companies · same sector, comparable size
AMPLITUDE
BE 0475.466.284
Holsbeek · Eq €112,718
ALTERVAL BENELUX
BE 0765.999.694
Gistel · Eq €113,132
CAISSES SERVICES
BE 0862.627.631
Gembloux · Eq €113,591
BEPAC BELGIUM
BE 0686.543.828
Wommelgem · Eq €110,536
ANTONIO46
BE 0436.092.796
Charleroi · Eq €113,747
Of 2,503 companies in sector 46649 we hold annual accounts for 1,755. 1,104 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded19-11-1970
Fiscal year end31-12
Activities, NACEBEL 2025
46649Wholesale of other machinery and equipment
46841Wholesale trade
47521Retail sale of hardware, building materials, paint and glass (general range)
Scores and ratios are computed by Checked and are not a credit decision.