Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Negative equity NBB
More debt than assets in 4 of the last 4 fiscal years.
-
Tight liquidity NBB
Cash and receivables cover 12 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
PAPO from Putte, company number BE0441927842, closed financial year 2025 with a result of € 37,067 after tax. For that financial year PAPO recorded a gross margin of € 71,913 and equity of € -127,288. Compared with financial year 2024, the result moved from € 16,322 to € 37,067. Profitable, and profit is growing. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on July 13, 2026.
€ -127,288
▲ € 37,067 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 37,067
▲ 127% vs 2024
Profit after tax over the fiscal year.
€ 19,489
▲ 114% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € -152,077.
People and assets in 2025
≈ 1
No payroll staff. One director, so that person most likely runs the business.
€ 2,611
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 165,062
▼ 22% vs 2024
€ 49,116 is repaid this year. At this pace the long-term loan is gone in ≈ 3 years.
€ 3,946
▼ 86% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 4,509
▼ 49% vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 57,229 | € 38,842 | € 55,976 | € 71,913 | ▲ 28% |
| Profit after taxes | € 13,050 | € -2,715 | € 16,322 | € 37,067 | ▲ 127% |
| Equity | € -177,962 | € -180,677 | € -164,355 | € -127,288 | ▲ € 37,067 |
| Total debts | € 398,220 | € 374,792 | € 330,614 | € 274,070 | ▼ 17% |
| Cash | € 7,982 | € 9,104 | € 9,087 | € 19,489 | ▲ 114% |
| Land & buildings | € 250 | - | - | - | |
| Retained profit | € -202,751 | € -205,466 | € -189,144 | € -152,077 | ▲ € 37,067 |
| Bank debt | € 297,485 | € 255,700 | € 211,602 | € 165,062 | ▼ 22% |
| Balance sheet total | € 220,258 | € 194,116 | € 166,259 | € 146,782 | ▼ 12% |
Key figures of PAPO, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to PAPO?
What happened at PAPO in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 37,067 (▲ 127% vs 2024). Source: NBB ↗
- New establishment in Putte. KBO
- Start of the company according to the CBE. KBO
In short
From € 13,050 profit in 2022 to € 37,067 profit in 2025.
Paid € 71 in corporate taxes since 2022.
Best year ever: 2025, with € 37,067 profit.
Management
Behind PAPO is Frieda VERVLOET.
Directors
According to the 2025 annual accounts
Frieda VERVLOET
Director
Establishments
Establishment units
Physical locations of this company
Mechelbaan 487
2580 Putte
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0441.927.842
- VAT number
- BE 0441.927.842
- Registered office
- Mechelbaan 487, 2580 Putte
- Names & denominations
- PAPO
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 19 November 1990
- Peppol
- Active · Active since 23 Jan 2026
- Activities · NACE
Detailhandel in dames-, heren-, baby- en kinderboven- en onderkleding en kledingaccessoires (algemeen assortiment)
Detailhandel in bovenkleding voor heren, dames en kinderen (algemeen assortiment)