Active BE 0459.958.162Private limited company

PUNCH

Bosdallaan 13 ·1950 Kraainem, Belgium· 29 yrs active

Sector: Advertising agencies (73110)

Conclusion Checked

PUNCH has been active since 1997 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €94k and a net result of €27k. Equity is growing by ~67.1% per year across the filed fiscal years. Its solvency ranks better than 61% of 6794 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).

Based on the State Gazette, CBE and 5 annual accounts.

Key figures

Equity	€94k
Net result	€27k
Better than sector	61%
Active	29 yrs

Financial profile 5 of 5 axes measured · computed by Checked

94 / 100

Exceptional profile, strong across almost every axis.

All 5 axes are computed from data Checked has read.

Health 93

Profitability 100

Solvency 100

Growth 78

Stability 100

Bankruptcy probability (12 mo) Checked model v1 · free

0.3% Very low

0%0,5%1,5%4%10%≥25%

How do we compute this?

Risk Assessment rule-based

0 / 100

Low risk

Trust signals 2 signals

Long-established

Founded in 1997, 29 years in business.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags0 events

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Checked score FY 2025 · computed

93 / 100 Excellent

050100

Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

Indicative credit limit

€9k

estimate, not credit advice

Score history

93 2021

100 2022

86 2023

100 2024

93 2025

purely financial, excl. current insolvency signals

Score components

Liquidity Current ratio 2.27 (≥ 1.5) +10

Quick ratio Quick ratio 2.27 (≥ 1.0) +5

Leverage Debt/equity 0.51 (< 1.0) +10

Profitability ROE 29% (≥ 10%) +10

Interest coverage Interest coverage 206.2× (≥ 3×) +8

Profit trend Net profit down YoY -3

Equity growth Equity growing YoY +3

Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.

Financial overview29 NBB filings

Annual accounts filed on 02-06-2026 with the NBB · fiscal year 2025 · micro schema

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

growing Equity: growth of ~67.1%/year over 5 fiscal years, indicative, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2025 · NACE 73, Advertising, market research and public relations activities · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	66.4%	54.7%	better than 61% of 6794 sector peers
Net result	€27k	€14k	better than 62% of 6794 sector peers
Equity	€94k	€61k	better than 61% of 6799 sector peers
Gross operating margin	€48k	€37k	better than 57% of 6786 sector peers
Total assets	€142k	€139k	better than 50% of 6798 sector peers

EBITDA

€47k

-34.3% 21-25

Net profit

€27k

-43.4% 21-25

Cash flow

€33k

-33.5% 21-25

Total assets

€142k

+36.0% 21-25

Equity

€94k

+40.3% 21-25

Working capital

€60k

+13.2% 21-25

Income taxes

€14k

-36.0% 21-25

Debt

€48k

+28.2% 21-25

Debt ≤ 1y

€48k

+28.2% 21-25

Current ratio

2.27

-6.9% 21-25

Quick ratio

2.27

-6.9% 21-25

Solvency

66.4%

+3.2% 21-25

Debt / equity

0.51

-8.6% 21-25

ROE

28.7%

-59.7% 21-25

ROA

19.1%

-58.4% 21-25

Interest coverage

206.23

-53.5% 21-25

Figures by fiscal year and ratios

Highlight YoY changes (±10%)

Fiscal year	2025	2024	2023	2022	2021
Deposit	micro schema	micro schema	micro schema	micro schema	micro schema
Revenue	-	-	-	-	-
EBITDA	€47k	€71k	€2k	€6k	€3k
Net profit	€27k	€48k	€227	€6k	€2k
Cash flow	€33k	€50k	€1k	€7k	€4k
Staff costs	-	-	-	-	-
Income taxes	€14k	€21k	€828	-	-
Dividends	-	-	-	-	-
Total assets	€142k	€104k	€32k	€31k	€24k
Equity	€94k	€67k	€19k	€19k	€13k
Debt	€48k	€37k	€12k	€12k	€11k
of which ≤ 1y	€48k	€37k	€12k	€12k	€11k
of which > 1y	-	-	-	-	-
Working capital	€60k	€53k	€12k	€17k	€12k
Employees (FTE)	-	-	-	-	-

Ratios (computed)

	2025	2024	2023	2022	2021
Current ratio	2.27	2.44	1.95	2.35	2.15
Quick ratio	2.27	2.44	1.95	2.35	2.15
Working capital ratio	42.6%	51.2%	36.9%	52.8%	51.5%
Solvency	66.4%	64.3%	61.0%	60.8%	55.3%
Debt / equity	0.51	0.55	0.64	0.65	0.81
Long-term debt ratio	-	-	-	-	-
Interest coverage	206.23	443.15	13.07	54.22	28.11
Gross margin	-	-	-	-	-
Net margin	-	-	-	-	-
ROA	19.1%	45.9%	0.7%	19.1%	6.5%
ROE	28.7%	71.3%	1.2%	31.4%	11.7%
EBITDA margin	-	-	-	-	-
Days sales outstanding	-	-	-	-	-
Days payable outstanding	-	-	-	-	-
Inventory turnover	-	-	-	-	-
Days inventory (DSI)	-	-	-	-	-

Balance-sheet composition 2025

Assets

Fixed assets €34k · 23.8% Current assets €108k · 76.3%

Equity & liabilities

Equity €94k · 66.4% Debt €48k · 33.6%

Full annual accounts (22 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2025	2024	2023	2022	2021
Balance sheet, Assets
TOTAL ASSETS	20/58	€142k	€104k	€32k	€31k	€24k
Fixed assets	21/28	€34k	€14k	€8k	€2k	€902
Tangible fixed assets	22/27	€34k	€14k	€8k	€2k	€902
Current assets	29/58	€108k	€90k	€24k	€29k	€23k
Amounts receivable within one year	40/41	€3k	€9k	€12k	€17k	€14k
Cash & bank	54/58	€86k	€80k	€11k	€12k	€8k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€142k	€104k	€32k	€31k	€24k
Equity	10/15	€94k	€67k	€19k	€19k	€13k
Contributions / capital	10/11	€20k	€20k	€20k	€20k	€19k
Reserves	13	€73k	€46k	-	-	€2k
Accumulated profits (losses)	14	€1k	€518	€-1k	€-1k	€-7k
Amounts payable	17/49	€48k	€37k	€12k	€12k	€11k
Amounts payable within one year	42/48	€48k	€37k	€12k	€12k	€11k
Trade debts payable within one year	44	€13k	€8k	€11k	€10k	€9k
Income statement
Gross operating margin	9900	€48k	€72k	€3k	€6k	€4k
Operating result	9901	€40k	€69k	€625	€5k	€1k
Financial income	75	€446	€449	€768	€1k	€225
Financial charges	65	€227	€161	€143	€109	€124
Result before taxes	9903	€41k	€69k	€1k	€6k	€2k
Income taxes	67/77	€14k	€21k	€828	-	-
Net result for the period	9904	€27k	€48k	€227	€6k	€2k
Result to be appropriated	9905	€27k	€48k	€227	€6k	€2k

Directors & mandates 2 directors

Current directors & mandates

SMAL Jean Patrick
Director
State Gazette act 22368796 (26-10-2022)

Current
26-10-2022 → present

Former directors (1)

Philippe Vastapane
Director
State Gazette act 22368796 (26-10-2022)

Former
- → 26-10-2022

Legal Structure

NACE primary	Advertising agencies(73110)
Legal form	Private limited company(610)
Incorporation	03-02-1997
Status	Active
Postal code	1950

Establishment units 1 location

PUNCH SPRL

Bosdallaan 13, 1950 KraainemNACE 7440101

since 19972.080.388.989

Real-estate footprint Source: CBE × cadastre

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
22002C0072/00V005	Flanders	1,932 m²	1 · 255 m²	8.7 m · 2 fl.

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.

Updates 11 events

All 13Financial 2Gazette 1Filings 10

Next filing, fiscal year 2026, expected by 31-07-2027

2026

02-06

NBB filing Annual accounts filed

fiscal year 2025 · micro schema

2025

20-05

NBB filing Annual accounts filed

fiscal year 2024 · micro schema

2024

31-12

Financial Highest result since 2021net €48k ▲20897%

Operating result €69k, net result €48k, both a record.

19-07

NBB filing Annual accounts filed

fiscal year 2023 · micro schema

2023

31-12

Financial Weakest financial yearnet €227 ▼96.2%

Net result drops to €227, the lowest in the series; recovery starts the following year.

23-05

NBB filing Annual accounts filed

fiscal year 2022 · micro schema

2022

26-10

State Gazette act Director changes

Matthieu DERYNCK

11-05

NBB filing Annual accounts filed

fiscal year 2021 · micro schema

2021

31-05

NBB filing Annual accounts filed

fiscal year 2020 · micro schema

2020

05-06

NBB filing Annual accounts filed

fiscal year 2019 · micro schema

2019

29-07

NBB filing Annual accounts filed

fiscal year 2018 · micro schema

2018

23-07

NBB filing Annual accounts filed

fiscal year 2017 · micro schema

2017

12-09

NBB filing Annual accounts filed

fiscal year 2016 · micro schema · 43 days late

Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Belgian State Gazette reading coverage 0 of 2 acts read

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.

Belgisch Staatsblad, acts 1 acts

All acts · 1 updated 3 years ago

2022

26-10-2022 2 directors appointed, 1 resigning Director changes·Matthieu DERYNCK

SMAL Jean Patrick, Bestuurder
Jean-Patrick Smal, Bestuurder
Philippe Vastapane, Bestuurder

Notary: Matthieu DERYNCK · BrusselFirm: Van Halteren, Geassocieerde Notarissen

Original publication ↗

Technical details

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  "act_meta": {
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  "is_correction": false,
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Credit advice verdict per customer and amount

Company registry (CBE) Crossroads Bank

Activities

Advertising agencies7311074401

Names & trade names

Legal nameNL

PUNCH

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