PAVUPAPRI
ActivePAVUPAPRI has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €51k and a net result of €43k. Equity is shrinking by ~3.1% per year across the filed fiscal years. Its solvency ranks better than 47% of 6974 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
82
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability100=
Solvency75▲+22
Growth77▲+19
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4k at 30 days acceptable
Liquidity ample (current ratio 1.73 against 1.29 in 2024; short-term debt: 49.6% and cash: 44.4% of total assets), and 49.6% 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
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 · 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
50.4%
Return on assets
42.4%
Age of the figures
12 mo
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 €51k
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 01-04-2026, 29 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
29 d early
2024
36 d early
2023
62 d early
2022
40 d early
2021
53 d early
2020
16 d early
2019
29 d late
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
18-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
€250k▲ 12.4%
2024 · €222k
2024: €222k
2024 → 2025
EBIT margin
23.8%▼ 1.9pp
2024 · 25.7%
2024: 25.7%
2024 → 2025
Net result
€43k▲ 2.8%
2024 · €42k
2018: €109
2019: €8k
2020: €6k
2021: €3k
2022: €29k
2023: €62k
2024: €42k
2018 → 2025
Working capital
€37k▲ 26.2%
2024 · €29k
2018: €43k
2019: €52k
2020: €59k
2021: €25k
2022: €29k
2023: €12k
2024: €29k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€222k€250k▲ 12.4%
Equity€29k-€34k▲ 16.9%€27k▼ 21.9%€40k▲ 49.1%€51k▲ 28.2%
Operating result€6k-€40k▲ 612%€85k▲ 115%€57k▼ 33.3%€59k▲ 4.2%
Net result€3k-€29k▲ 797%€62k▲ 116%€42k▼ 32.7%€43k▲ 2.8%
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 4% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €102k
Fixed assets
€14k▲ 33.5%
Current assets
€88k▼ 33.4%
Equity and liabilities €102k
Equity
€51k▲ 28.2%
Debt
€51k▼ 50.5%
The debt ratio falls from 71.8% to 49.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€60k▲
2024 · €57k
Cash flow
€44k▲
2024 · €42k
Solvency
50.4%▲
2024 · 28.2%
Current ratio
1.73▲
2024 · 1.29
Quick ratio
1.73▲
2024 · 1.29
Debt / equity
0.98▼
2024 · 2.55
ROE
84.2%▼
2024 · 104.9%
ROA
42.4%▲
2024 · 29.6%
Interest coverage
199.55▼
2024 · 306.07
Debt
€51k▼
2024 · €102k
Debt ≤ 1 year
€51k▼
2024 · €102k
Income taxes
€16k▲
2024 · €15k
Staff costs
€58k▲
2024 · €53k
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€142k€102k▼
Formation expenses20-€0
Fixed assets21/28€11k€14k▲
Intangible fixed assets21-€0
Tangible fixed assets22/27€11k€14k▲
Furniture and vehicles24€846€544▼
Other tangible fixed assets26-€4k
Assets under construction and advance payments27€10k€10k=
Financial fixed assets28€50€50=
Current assets29/58€132k€88k▼
Amounts receivable within one year40/41€87k€42k▼
Trade receivables40€60k€30k▼
Other amounts receivable41€27k€13k▼
Cash at bank and in hand54/58€44k€45k▲
Equity and liabilities
Total equity and liabilities10/49€142k€102k▼
Equity10/15€40k€51k▲
Contributions10/11€19k€19k=
Reserves13€2k€2k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Profit (loss) carried forward14€20k€31k▲
Amounts payable17/49€102k€51k▼
Amounts payable within one year42/48€102k€51k▼
Trade debts44€18k€11k▼
Suppliers440/4€18k€4k▼
Bills of exchange payable441-€8k
Advances received on contracts in progress46€11k€4k▼
Taxes, remuneration and social security45€44k€33k▼
Taxes450/3€29k€28k▼
Remuneration and social security454/9€15k€5k▼
Other amounts payable47/48€29k€2k▼
Income statement
Code20242025
Turnover70€222k€250k▲
Non-recurring operating income76A-€10k
Goods, raw materials, services and sundry goods60/61€123k€115k▼
Remuneration, social security and pensions62€53k€58k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€302€615▲
Other operating charges640/8€512€736▲
Gross operating margin9900€111k€119k▲
Operating profit (loss)9901€57k€59k▲
Financial income75/76B-€31
Recurring financial income75-€31
Financial charges65/66B€187€301▲
Recurring financial charges65€187€301▲
Profit (loss) for the period before taxes9903€57k€59k▲
Income taxes67/77€15k€16k▲
Profit (loss) for the period9904€42k€43k▲
Profit (loss) for the period to be appropriated9905€42k€43k▲
Appropriation of the result
Profit (loss) to be appropriated9906€48k€61k▲
Profit (loss) brought forward from the previous period14P€6k€18k▲
Profit to be distributed694/7€29k€30k▲
Return on contributions (dividend)694€29k€30k▲
The notes to these accounts (10 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
01-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
25-03
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
28-02
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-09
Financial
Highest result since 2018net €62k ▲116%
Operating result €85k, net result €62k, both a record.
21-03
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
08-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
14-04
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
29-05
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 29 days late
2019
26-04
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
04-04
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
07-04
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.
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, Etterbeek · 1 establishment unit since 2002
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.
Oudergemlaan 2741040 EtterbeekGround area
105 m²
Building footprint
105 m²
Volume, LiDAR
1,310 m³
Parcel 21364B0041/00T005, Brussels · tallest building 18.3 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
PANO SIGN SERVICES
since 20022.114.941.478
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21364B0041/00T005 | Brussels | 105 m² | 1 · 105 m² | 18.3 m · 5 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.
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Of 9,862 companies in sector 73110 we hold annual accounts for 3,755. 3,004 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded22-05-2002
Fiscal year end30-09
Activities, NACEBEL
73110Advertising agencies
74103Other professional, scientific and technical activities
74120Graphic design and visual communication
74401
Sources
Crossroads Bank for EnterprisesNational Bank · 23 filingsAddress and cadastre registers
Data from official sources, last processed on 17-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
2 entriesWebsite:www.pano-group.com
Phone:0000000