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PUPPY

Active
Public limited companyfounded 198541 yrs activeAvenue Nobel 1, 1300 Wavre, BelgiumKBO/BCE: BE 0427.769.505
Summary

The computed 12-month bankruptcy probability of PUPPY is 1.9% (moderate). The annual accounts of PUPPY for fiscal year 2025 show a net loss of 90% of the equity at the start of that year. The 2025 annual accounts show equity of €67,639 and a net result of -€609,780. Equity is shrinking by ~20.5% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2026. Its solvency ranks better than 9% of 6016 sector peers (fiscal year 2025). The company has been active since 1985 and the Belgian State Gazette contains no insolvency or warning signals.

Risk analysisWatch ReportCompare
PUPPYActiveChecked score 52/100
Risk analysis ReportCompare

Overview

Activity
Wholesale trade
NACE 46497Wholesale trade NACE 46496NACE 51476
1 site
Size
€1.6mtotal assets 2025
Staff
8.3 FTE
Equity
€67,639
Loss
-€609,780
Financial health
52 Fair Checked score 2025
Bankruptcy chance 12 m
1.9%
Structure
Parent
PUPPY EXPLOITATION · 100%
Holdings
1
Accounts 52 d early1 of 11 deeds read
Why 52- Loss of €609,780, the second in a row (FY 2025)- Equity €67,639 (4.1% of total assets)- Size: 8.3 FTE, total assets €1.6m+ Founded in 1985Show the evidence

Checked score

Score 2025
52 / 100
Fair
Probability in this band: 1.5% to 4.2%
Better than 11% of its sector peers (NACE 46, micro)
Performance against the sector, not lower risk
Every signal that weighs is under Signals.
Financial strength · tick = 2024
Weak
Solvency 29-32
equity 4.1% of total assets
Liquidity 12-17
short-term debt 95.7% · cash 9.3%
Profitability 0=
return on assets -37.1%
Bankruptcy probability, 12 months
1.9% Moderate
0%0.5%1.5%4%10%≥ 25%

About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.4% (26,788 companies)
Last 24 months 11-2024: 0.5%lowest value 12-2024: 0.5%● 0.0% vs 11-2024lowest value 01-2025: 0.5%● 0.0% vs 12-2024lowest value 02-2025: 0.5%● 0.0% vs 01-2025lowest value 03-2025: 0.6%▲ +17.3% vs 02-2025 04-2025: 0.6%▲ +8.8% vs 03-2025 05-2025: 0.7%▲ +5.0% vs 04-2025 06-2025: 0.7%▲ +2.8% vs 05-2025 07-2025: 0.9%▲ +30.4% vs 06-2025 08-2025: 0.9%● 0.0% vs 07-2025 09-2025: 0.9%● 0.0% vs 08-2025 10-2025: 0.9%● 0.0% vs 09-2025 11-2025: 0.9%● 0.0% vs 10-2025 12-2025: 0.9%● 0.0% vs 11-2025 01-2026: 0.9%● 0.0% vs 12-2025 02-2026: 0.9%● 0.0% vs 01-2026 03-2026: 0.9%▼ -1.5% vs 02-2026 04-2026: 0.9%▲ +5.3% vs 03-2026 05-2026: 0.9%▲ +0.3% vs 04-2026 06-2026: 1.0%▲ +7.9% vs 05-2026 07-2026: 1.9%▲ +85.5% vs 06-2026highest value 08-2026: 1.9%● 0.0% vs 07-2026highest value 09-2026: 1.9%● 0.0% vs 08-2026highest value 10-2026: 1.9%● 0.0% vs 09-2026highest value
  • Loss of €609,780, the second in a row (FY 2025) raises the probability
  • Equity €67,639 (4.1% of total assets) raises the probability
  • Size: 8.3 FTE, total assets €1.6m raises the probability for this profile
  • Founded in 1985 lowers the probability for this profile
Credit up to €3,500 at 30 days only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity short (current ratio 1.0 against 1.54 in 2024; short-term debt: 95.7% and cash: 9.3% of total assets), and 95.9% of the assets are financed with debt.
How it is calculated

The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.

75-100 Excellent under 0.55%
60-74 Healthy 0.55% to 1.5%
45-59 Fair 1.5% to 4.2%
25-44 Weak 4.2% to 15.0%
0-24 Critical over 15.0%

Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (NACE 46, micro). Better than this share of them on solvency 19%, liquidity 12%, profitability 6%, growth against the median 5%. That is performance, not lower risk; the band itself always comes from the probability.

Bankruptcy probability: model pd-v3.202610021621, computed on 03-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.

Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.

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Signals

Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Loss of €609,780, the second in a row (FY 2025)
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
raises risk · Equity €67,639 (4.1% of total assets)
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
raises risk · Size: 8.3 FTE, total assets €1.6m
In the bankruptcy model this factor raises the probability for this profile.
NBB · annual accounts
lowers risk · Founded in 1985
In the bankruptcy model this factor lowers the probability for this profile.
KBO
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 2025
Net result per financial year
1920212122232425
2019 to 2025 · latest year -€609,780
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 9% of 6016 sector peers (2025).
NBB · sector comparison
Position among 6016 sector peers
Solvency
better than 9%
← weakest strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 09-06-2026, 52 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
52 d early
2024
42 d early
2023
12 d early
2022
17 d early
2021
37 d early
2021
42 d early
2020
41 d late
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 7 accounts on average 23 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.

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. Usually files around 24 June (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Position in the running window
04-10-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage
  1. Annual accounts filedfiscal year 2025 · full…
  2. Capital & shares · Statutes amendmentCapital increase · Declaration ·…
  3. Annual accounts filedfiscal year 2024 · full…

Key points

  • Risk: 3 loss-making years in a rowloss fiscal year 2025 -€609,780 View
  • Caution: Equity fell in 2025from €677,419 to €67,639 ▼ 90.0% View
  • Caution: Among the weakest 5% on net resultsector median €114,682 · 5,959 companies -€609,780 View
  • Controlled by PUPPY EXPLOITATIONitself parent of 1 companies 100% View
  • Positive: Always filed on timeaccounts within the deadline every year 6 years View

By topic

Financials

Fiscal year
2025
Total assets
€1.6m
Loss
-€609,780
Solvency
4.1%
Total assets▼ 12.3%
Net result
20192025
Go to Financials

Timeline

Events
13
Since
2017
Next accounts
by 31-07-2027
  1. 09-06-2026Annual accounts filed
  2. 01-06-2026Capital & shares · Statutes amendment
  3. 19-06-2025Annual accounts filed
Go to Timeline

Company details

Sites
1
Legal form
Public limited company
Activity
Wholesale tradeNACE 46497
Founded
30-09-1985
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

Go further with this company

How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed

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