PEPUP
ActiveSummary
The computed 12-month bankruptcy probability of PEPUP is 1.6% (moderate). The 2024 annual accounts show equity of €28,521 and a net result of €41,201. Equity is growing by ~93% per year across the filed fiscal years. Its solvency ranks better than 21% of 8966 sector peers (fiscal year 2024). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability97▲+30
Solvency41▲+8
Growth78▲+26
Track record94
Bankruptcy probability, 12 months
1.6%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,500 at 30 days acceptable
Liquidity short (current ratio 1.0 against 0.3 in 2023; short-term debt: 83.7% and cash: 13.1% of total assets), and 84.2% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
15.8%
Return on assets
22.9%
Age of the figures
21 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 21% of 8966 sector peers (2024).
NBB · sector comparisonPosition among 8966 sector peers
Solvency
better than 21%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 12-09-2025, 43 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 · 4 filingsDeviation from the deadline
2025
not confirmed
2024
43 d late
2023
49 d late
2022
92 d late
2021
93 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 4 accounts on average 69 days after the deadline; the sector median for financial year 2024 is 6 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (1)
History
Go further with this company
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Financials · fiscal year 2024, micro schema
Equity
€28,521▲ 114%
2023 · €13,320
Total assets
€180,036▲ 2.9%
2023 · €174,977
Net result
€41,201▲ 444%
2023 · €7,576
Working capital
-€122▲ 99.9%
2023 · -€112,152
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 73, Advertising, market research and public relations 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
Line2021202220232024
Operating result€10,382-€8,768▼ 15.5%€15,684▲ 78.9%€52,907▲ 237%
Net result€7,920within the sector's middle half-€4,824within the sector's middle half▼ 39.1%€7,576within the sector's middle half▲ 57.0%€41,201within the sector's middle half▲ 444%
Equity€5,420below the sector's middle half-€5,744below the sector's middle half▲ 6.0%€13,320below the sector's middle half▲ 132%€28,521within the sector's middle half▲ 114%
Total assets€169,787within the sector's middle half-€165,224within the sector's middle half▼ 2.7%€174,977within the sector's middle half▲ 5.9%€180,036within the sector's middle half▲ 2.9%
Debt€164,367-€159,480▼ 3.0%€161,657▲ 1.4%€151,515▼ 6.3%
Working capital-€149,687--€133,502▲ 10.8%-€112,152▲ 16.0%-€122▲ 99.9%
Solvency3.2%below the sector's middle half-3.5%below the sector's middle half▲ 0.3pp7.6%below the sector's middle half▲ 4.1pp15.8%below the sector's middle half▲ 8.2pp
above
within
below
the middle half (P25 to P75) of NACE 73, Advertising, market research and public relations activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 237% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €180,036
Fixed assets
€29,397 ▼ 77.0%
Current assets
€150,639 ▲ 218%
Equity and liabilities €180,036
Equity
€28,521 ▲ 114%
Debt
€151,515 ▼ 6.3%
Debt's share of the balance-sheet total falls from 92.4% to 84.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€57,108▲
2023 · €33,080
Cash flow
€45,402▲
2023 · €24,972
Current ratio
1.00▲
2023 · 0.30
Debt to equity
5.31▼
2023 · 12.14
ROE
144.5%▲
2023 · 56.9%
ROA
22.9%▲
2023 · 4.3%
Interest coverage
6.73▲
2023 · 5.08
Debt ≤ 1 year
€150,761▼
2023 · €159,586
Debt > 1 year
€754▼
2023 · €2,071
Income taxes
€5,546▲
2023 · €4,237
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,703 companies that looked in July 2024 the way this one looks now, 1.7% went bankrupt within 24 months and 96% are still going.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
1.7%
went bankrupt
2.2%
stopped otherwise
96%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.6% 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 497,058 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% | 1.6% |
| 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 74% 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 6,703 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 | Change |
|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €41,055 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €20,551 | €17,822 | €17,396 | €4,201 | ▼ 75.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €2,450 | €900 | ▼ 63.3% |
| Other operating charges640/8 | €730 | €1,528 | €2,070 | €987 | ▼ 52.3% |
| Gross operating margin9900 | €31,663 | €28,118 | €37,600 | €58,995 | ▲ 56.9% |
| Operating profit (loss)9901 | €10,382 | €8,768 | €15,684 | €52,907 | ▲ 237% |
| Financial income75/76B | €1 | €3 | €2,636 | €2,320 | ▼ 12.0% |
| Recurring financial income75 | €1 | €3 | €2,636 | €2,320 | ▼ 12.0% |
| Financial charges65/66B | €963 | €1,900 | €6,507 | €8,480 | ▲ 30.3% |
| Recurring financial charges65 | €963 | €1,900 | €6,507 | €8,480 | ▲ 30.3% |
| Profit (loss) for the period before taxes9903 | €9,420 | €6,871 | €11,813 | €46,747 | ▲ 296% |
| Income taxes67/77 | €1,500 | €2,047 | €4,237 | €5,546 | ▲ 30.9% |
| Profit (loss) for the period9904 | €7,920 | €4,824 | €7,576 | €41,201 | ▲ 444% |
| Profit (loss) for the period to be appropriated9905 | €7,920 | €4,824 | €7,576 | €41,201 | ▲ 444% |
| Line | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €169,787 | €165,224 | €174,977 | €180,036 | ▲ 2.9% |
| Fixed assets21/28 | €155,107 | €139,246 | €127,543 | €29,397 | ▼ 77.0% |
| Intangible fixed assets21 | €120,945 | €107,445 | €93,945 | - | - |
| Tangible fixed assets22/27 | €33,687 | €31,326 | €33,123 | €28,922 | ▼ 12.7% |
| Furniture and vehicles24 | €1,476 | €1,424 | €5,529 | €592 | ▼ 89.3% |
| Leasing and similar rights25 | - | - | - | €3,046 | - |
| Other tangible fixed assets26 | €32,211 | €29,902 | €27,594 | €25,284 | ▼ 8.4% |
| Financial fixed assets28 | €475 | €475 | €475 | €475 | = |
| Current assets29/58 | €14,680 | €25,978 | €47,434 | €150,639 | ▲ 218% |
| Amounts receivable within one year40/41 | €1,416 | €6,751 | €6,164 | €126,100 | ▲ 1,946% |
| Trade receivables40 | €1,416 | €6,751 | €6,164 | €13,006 | ▲ 111% |
| Other amounts receivable41 | - | - | - | €113,094 | - |
| Cash at bank and in hand54/58 | €10,797 | €9,299 | €40,516 | €23,663 | ▼ 41.6% |
| Deferred charges and accrued income490/1 | €2,467 | €9,928 | €754 | €876 | ▲ 16.2% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €169,787 | €165,224 | €174,977 | €180,036 | ▲ 2.9% |
| Equity10/15 | €5,420 | €5,744 | €13,320 | €28,521 | ▲ 114% |
| Contributions10/11 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Reserves13 | - | - | €8,000 | €23,000 | ▲ 188% |
| Distributable reserves133 | - | - | €8,000 | €23,000 | ▲ 188% |
| Profit (loss) carried forward14 | €420 | €744 | €320 | €521 | ▲ 62.8% |
| Amounts payable17/49 | €164,367 | €159,480 | €161,657 | €151,515 | ▼ 6.3% |
| Amounts payable after more than one year17 | - | - | €2,071 | €754 | ▼ 63.6% |
| Financial debts170/4 | - | - | €2,071 | €754 | ▼ 63.6% |
| Amounts payable within one year42/48 | €164,367 | €159,480 | €159,586 | €150,761 | ▼ 5.5% |
| Current portion of amounts payable after more than one year42 | - | - | €1,197 | €1,317 | ▲ 10.0% |
| Financial debts43 | €25,000 | €25,000 | €25,000 | €25,000 | = |
| Credit institutions430/8 | €25,000 | €25,000 | €25,000 | €25,000 | = |
| Trade debts44 | €30,830 | €17,612 | €33,500 | €40,882 | ▲ 22.0% |
| Suppliers440/4 | €30,830 | €17,612 | €33,500 | €40,882 | ▲ 22.0% |
| Advances received on contracts in progress46 | €7,187 | - | €1,815 | - | - |
| Taxes, remuneration and social security45 | €3,013 | €7,539 | €27,649 | €21,889 | ▼ 20.8% |
| Taxes450/3 | €3,013 | €7,539 | €27,649 | €21,889 | ▼ 20.8% |
| Other amounts payable47/48 | €98,337 | €109,329 | €70,425 | €61,673 | ▼ 12.4% |
| Line | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €7,920 | €4,824 | €7,576 | €41,201 | ▲ 444% |
| + Depreciation and write-downs630 | €20,551 | €17,822 | €17,396 | €4,201 | ▼ 75.9% |
| Operating cash flow (approximation) | €28,471 | €22,646 | €24,972 | €45,402 | ▲ 81.8% |
| Investment in fixed assets (approximation) | - | -€1,961 | -€5,693 | €93,945 | ▲ 1,750% |
| Change in cash | - | -€1,498 | €31,217 | -€16,853 | ▼ 154% |
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
2025
12-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 43 days late
2024
31-12
Financial
Highest result since 2021net €41,201 ▲444%
Operating result €52,907, net result €41,201, both a record.
18-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 49 days late
2023
31-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 92 days late
2022
31-12
Financial
Weakest financial yearnet €4,824 ▼39.1%
Net result drops to €4,824, the lowest in the series; recovery starts the following year.
01-11
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 93 days late
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.
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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, Rochefort · 1 establishment unit since 2020
Ground area
1,366 m²
Building footprint
253 m²
Parcel 91095A0158/00K000, Wallonia. Linked by address, not a title deed.
1 establishment unit
PEPUP
since 20202.311.243.051
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 91095A0158/00K000 | Wallonia | 1,366 m² | 1 · 253 m² | - |
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.
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Of 9,864 companies in sector 73110 we hold annual accounts for 3,752. 2,801 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
Founded17-12-2020
Fiscal year end31-12
Activities, NACEBEL 2025
73110Advertising agencies
E-invoicing
Reachable via Peppol
Peppol ID
0208:0759919279
Registered
19-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.