Pupa
ActiveThe computed 12-month bankruptcy probability of Pupa is 1.9% (moderate). The 2025 annual accounts show equity of €82k and a net result of €-26k. Equity is growing by ~4.1% per year across the filed fiscal years. Its solvency ranks better than 77% of 796 sector peers (fiscal year 2025). The company has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
59
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability13▼-55
Solvency86▼-4
Growth52=
Track record100
Bankruptcy probability, 12 months
1.9%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €4.5k at 30 days acceptable
Liquidity ample (current ratio 2.13 against 2.2 in 2024; short-term debt: 39.4% and cash: 44.3% of total assets), and 39.4% 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.
+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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 10
Relative position
BE, all sectors
reference
Sector 10
higher
← fewer bankruptcies
more bankruptcies →
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 2025Solvency, return and age of the figures
Solvency
60.6%
Return on assets
-19.2%
Age of the figures
12 mo
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
202122232425
2020 to 2025 · latest year €-26k
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 23-03-2026, 38 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
38 d early
2024
30 d early
2023
4 d early
2022
31 d early
2021
23 d early
2020
17 d early
← 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, abbreviated schema
Equity
€82k▼ 24.0%
2024 · €108k
2020: €49k
2021: €95k
2022: €107k
2023: €109k
2024: €108k
2020 → 2025
Total assets
€135k▼ 19.0%
2024 · €167k
2020: €271k
2021: €248k
2022: €193k
2023: €179k
2024: €167k
2020 → 2025
Net result
€-26k▼ 2,340%
2024 · €-1k
2020: €31k
2021: €48k
2022: €12k
2023: €2k
2024: €-1k
2020 → 2025
Working capital
€60k▼ 11.6%
2024 · €68k
2020: €-103k
2021: €-21k
2022: €29k
2023: €56k
2024: €68k
2020 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€95k-€107k▲ 12.6%€109k▲ 1.6%€108k▼ 1.0%€82k▼ 24.0%
Operating result€69k-€18k▼ 73.9%€9k▼ 48.9%€420▼ 95.4%€-6k
Net result€48k-€12k▼ 75.2%€2k▼ 86.1%€-1k€-26k▼ 2,340%
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 €6k after €420 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €135k
Fixed assets
€22k▼ 47.9%
Current assets
€114k▼ 9.3%
Equity and liabilities €135k
Equity
€82k▼ 24.0%
Debt
€53k▼ 9.6%
The debt ratio rises from 35.3% to 39.4%. Equity and debt are lower.
Key figures and ratios
EBITDA
€15k▼
2024 · €30k
Cash flow
€-5k▼
2024 · €28k
Solvency
60.6%▼
2024 · 64.7%
Current ratio
2.13▼
2024 · 2.20
Quick ratio
2.03▼
2024 · 2.13
Debt / equity
0.65▲
2024 · 0.55
ROE
-31.7%▼
2024 · -1.0%
ROA
-19.2%▼
2024 · -0.6%
Interest coverage
1.51▼
2024 · 6.29
Debt
€53k▼
2024 · €59k
Debt ≤ 1 year
€53k▼
2024 · €57k
Income taxes
€674▲
2024 · €-30
Staff costs
€54k▲
2024 · €44k
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€167k€135k▼
Fixed assets21/28€42k€22k▼
Intangible fixed assets21€14k€0▼
Tangible fixed assets22/27€28k€22k▼
Land and buildings22€22k€17k▼
Plant, machinery and equipment23€2k€2k▼
Furniture and vehicles24€5k€3k▼
Current assets29/58€125k€114k▼
Stocks and contracts in progress3€4k€5k▲
Stocks30/36€4k€5k▲
Amounts receivable within one year40/41€44k€45k▲
Other amounts receivable41€44k€45k▲
Cash at bank and in hand54/58€73k€60k▼
Deferred charges and accrued income490/1€4k€4k▼
Equity and liabilities
Total equity and liabilities10/49€167k€135k▼
Equity10/15€108k€82k▼
Contributions10/11€20k€20k=
Reserves13€87k€87k=
Distributable reserves133€87k€87k=
Profit (loss) carried forward14€707€-25k▼
Amounts payable17/49€59k€53k▼
Amounts payable after more than one year17€2k-
Financial debts170/4€2k-
Amounts payable within one year42/48€57k€53k▼
Current portion of amounts payable after more than one year42€8k€2k▼
Financial debts43€3k€3k▲
Credit institutions430/8€3k€3k▲
Trade debts44€39k€35k▼
Suppliers440/4€39k€35k▼
Taxes, remuneration and social security45€7k€13k▲
Taxes450/3-€673
Remuneration and social security454/9€7k€12k▲
Income statement
Code20242025
Remuneration, social security and pensions62€44k€54k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€29k€20k▼
Other operating charges640/8€737€4k▲
Gross operating margin9900€74k€73k▼
Operating profit (loss)9901€420€-6k▼
Financial income75/76B€3k€4k▲
Recurring financial income75€3k€4k▲
Financial charges65/66B€5k€23k▲
Recurring financial charges65€5k€10k▲
Non-recurring financial charges66B-€13k
Profit (loss) for the period before taxes9903€-1k€-25k▼
Income taxes67/77€-30€674▲
Profit (loss) for the period9904€-1k€-26k▼
Profit (loss) for the period to be appropriated9905€-1k€-26k▼
Appropriation of the result
Profit (loss) to be appropriated9906€707€-25k▼
Profit (loss) brought forward from the previous period14P€2k€707▼
Social balance
Average headcount (FTE)90871.31.3=
The notes to these accounts (13 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
23-03
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
30-09
Financial
Weakest financial yearnet €-26k
Net result drops to €-26k, the lowest in the series.
31-03
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
26-04
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-03
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
30-09
Financial
Equity above €100kEq €107k ▲12.6%
3 profitable years in a row build equity to €107k.
07-04
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-09
Financial
Highest result since 2020net €48k ▲56.7%
Operating result €69k, net result €48k, both a record.
13-04
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Pelt · 1 establishment unit since 2018
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.
Justitielaan 263910 PeltGround area
180 m²
Building footprint
101 m²
Volume, LiDAR
765 m³
Parcel 72025B0934/00M008, Flanders · tallest building 9.4 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Pupa
since 20182.283.752.360
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 72025B0934/00M008 | Flanders | 180 m² | 1 · 101 m² | 9.4 m · 3 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.
Recognitions · licences · registrations
Food safety, FASFC
1 sitePelt2.283.752.360
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GELATI - VAN HOUCKE
BE 0454.635.535
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LA PISTE DU GOUT
BE 0887.917.610
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Of 611 companies in sector 10520 we hold annual accounts for 236. 199 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded12-12-2018
Fiscal year end30-09
Activities, NACEBEL
10520Manufacture of food products
47241Retail sale of bread and pastry (bakery outlets)
47279Other retail sale of food
47299Retail trade
56102Limited-service restaurants
56112Limited-service restaurants, excluding mobile food services
Sources
Crossroads Bank for EnterprisesNational Bank · 6 filingsAddress and cadastre registers
Data from official sources, last processed on 18-09-2026. Scores and ratios are computed by Checked and are not a credit decision.