Manufacture of paper and paper products
Filed accounts
NACE 17120 · financial year 2025 · 76 filed annual accounts| Per financial year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Median solvency | 53.9% | 47.9% | 46.5% | 49.3% | 49.6% | 49.8% |
| Median net result | €76,342 | €47,507 | €47,636 | €106,207 | €95,421 | €81,423 |
Hold your customer's or competitor's figures against them in the Sector benchmark
Bankruptcies
Recent bankruptcies
| Date | Company |
|---|---|
| 07-04-2026 | TEB
BE 0552.764.396 |
| 04-07-2023 | PACKET PRINT
BE 0419.533.710 |
| 04-07-2023 | C.M.D.
BE 0436.463.574 |
Spread across the country
by region and province · 98 of 113 enterprises with a registered office on file · a sole trader has no published seat- Flanders
- Wallonia
- Brussels
- Abroad
The balance sheets of division 17 on the map, by municipality and down to the address
Largest employers
NACE 17120 as first main activity · staff from the latest accounts- 1 VPK PACKAGINGDendermonde 571 FTEfinancial year 2025
- 2 ESSITY PLD BELGIUMVerviers 351 FTEfinancial year 2025
- 3 STORA ENSO LANGERBRUGGEGhent 348 FTEfinancial year 2025
- 4 Smurfit Westrock TurnhoutTurnhout 331 FTEfinancial year 2025
- 5 VPK PaperDendermonde 292 FTEfinancial year 2025
Joint committees
from the latest accounts of 49 companies- 136 Paper and cardboard processing 29
- 222 White-collar workers in paper and cardboard processing 25
- 129 Pulp, paper and cardboard production 7
- 221 White-collar workers in the paper industry 7
- 200 Auxiliary committee for white-collar workers 5
- 116 Chemical industry 4
- 100 Auxiliary committee for blue-collar workers 3
- 207 White-collar workers in the chemical industry 3
Show the 8 others
- 130 Printing, graphic arts and newspapers 2
- 214 White-collar workers in the textile industry 2
- 111 Metal, mechanical and electrical engineering 1
- 120 Textile industry 1
- 120.03 Textile industry 1
- 142.04 Recovery of raw materials 1
- 149 Sectors related to metal, mechanical and electrical engineering 1
- 209 White-collar workers in metal manufacturing 1
Source: the annual accounts at the National Bank. One filing can name more than one committee.
Division 17: Paper
Related activities
1 other activity| Activity | Registrations | Starters, 12 months | Bankruptcies, 12 months | FTE |
|---|---|---|---|---|
| Manufacture of paper and paper products17110 | 8 | 0 | 0 | 605 |
Bankruptcies per year in division 17
| Per year | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Bankruptcies | 2 | 8 | 3 | 5 | 6 | 1 | 2 | 4 | 5 | 5 | 1 |
| Jobs lost | 83 | 63 | 386 | 24 | 89 | 1 | 2 | 18 | 78 | 107 | 1 |
2026 through February. Every bankruptcy, also of companies that have since left the register. Source: Statbel (Directorate-General Statistics), NACE classification of 2008.
Staff cost per FTE in NACE division 17
125 employers| Size | Median | Middle half | Employers |
|---|---|---|---|
| fewer than 10 FTE | €57,100 | €49,600 to €69,900 | 35 |
| 10 to 49 FTE | €60,300 | €53,400 to €69,100 | 51 |
| 50 to 249 FTE | €70,500 | €63,800 to €79,300 | 28 |
Employers with the highest staff cost per FTE in this division All sectors by staff cost In the Analysis workbench
Foreign control in NACE division 17
278 registered companiesSubsidies in this sector
per register · legal entities with an enterprise number- Flemish subsidies €96.0m awarded
- Federal transfers 69,800 amount as published
- EU budget €198,192 attributed share
- EU research €623,810 EU contribution
Insights on Manufacture of paper and paper products
Balance sheet and result. The median net result of €81,423 is above Belgium's €16,497. 9.2% of the annual accounts show negative equity, against 12.4% in Belgium. Return on equity of 13.2% is below Belgium's 15.9%.
Bankruptcies. The median bankruptcy probability of 0.2% is above Belgium's 0.2%.
Inflow and structure. Half of the companies are younger than 32.9 years, against 8.1 years in Belgium. 13.3% of the companies are sole traders, against 41.6% in Belgium. Wallonia holds 28.0% of the seats, against 22.7% in Belgium.
Staff and filing. 25.3% of the financial year 2024 accounts were filed late, against 38.4% in Belgium. The 5 largest employers hold 1,893 of the 3,217 FTE: 58.8%.
Direction. Median solvency fell from 53.9% in financial year 2020 to 49.8% in financial year 2025.
The comparison with Belgium as a whole and with the other divisions is as of 09-11-2026 05:30.
Method and sources
Every company registered today counts under its main activities in the KBO. Establishment units do not count. Staff counts once, under the employer's first main activity, from its latest accounts and only where it fits the staff costs. The count follows the NACE 2025 classification, the version in which code 17120 exists.
The bankruptcies over five years count only companies still registered today, because the activity of a company that left the register is not kept. So they are fewer than the bankruptcies of those years, and the figure is not a probability for the future. Over twelve months the count is nearly complete, because a bankrupt company stays registered while its bankruptcy runs. A company with more than one main activity counts in each of those sectors.
The comparison with Belgium as a whole and with the other NACE divisions rests on an overview of every division, counted again each night. Each division is counted in the version of the NACE classification in which it exists. A standing such as "more than in 80%" compares with the other divisions that have the figure. A division's bankruptcy probability is the median over its companies with a score. Belgium here counts the 1,276,461 companies with a main activity, because only those belong to a division. The other 699,442 registrations publish no activity.
Each median is the value of the middle company, computed over the annual accounts of financial year 2025, and is shown only from 30 accounts. A share (loss-making, negative equity) counts that year's accounts with that trait. Accounts are late when they are filed after the statutory deadline. The direction per financial year follows the companies still registered today. Missing or 90 days late counts the companies with accounts missing today, or whose latest were filed more than 90 days after the deadline. The dossier follows the same rule.