Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Tight liquidity NBB
Cash and receivables cover 6 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
PAPILIO from Zele, company number BE0765153420, closed financial year 2025 with a result of € 132,911 after tax. For that financial year PAPILIO recorded a gross margin of € 208,672 and equity of € 6.8 million. Compared with financial year 2024, the result moved from € 22,971 to € 132,911. Profitable, and profit is growing. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on July 22, 2026.
€ 6.8 million
▲ 2% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 132,911
▲ € 109,941 vs 2024
Profit after tax over the fiscal year.
€ 73
▼ 99% 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 € 218,030.
Debts at end 2025
€ 2.9 million
▼ 12% vs 2024
€ 392,206 is repaid this year. At this pace the long-term loan is gone in ≈ 6 years.
€ 150,899
▼ 47% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 29,837
▲ 21% 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 | € 87,785 | € 113,115 | € 62,089 | € 208,672 | ▲ 236% |
| Profit after taxes | € 50,508 | € 60,010 | € 22,971 | € 132,911 | ▲ € 109,941 |
| Equity | € 6,551,139 | € 6,611,148 | € 6,634,119 | € 6,767,030 | ▲ 2% |
| Total debts | € 4,084,521 | € 4,023,057 | € 4,007,275 | € 3,967,652 | ▼ 1% |
| Cash | € 1,052 | € 205 | € 6,787 | € 73 | ▼ 99% |
| Retained profit | € 2,139 | € 62,148 | € 85,119 | € 218,030 | ▲ 156% |
| Bank debt | € 3,706,097 | € 3,323,155 | € 3,313,841 | € 2,903,949 | ▼ 12% |
| Balance sheet total | € 10,635,660 | € 10,634,205 | € 10,641,394 | € 10,734,682 | ▲ 1% |
Key figures of PAPILIO, 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 PAPILIO?
What happened at PAPILIO in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 132,911 (▲ € 109,941 vs 2024). Source: NBB ↗
- Vincent De Decker became a director. NBB
- Loem BV stepped down as director. NBB
- Christine Valerie Vastenavondt became a director. NBB
- Loem BV became a director. NBB
- Feynman BV became a director. NBB
- New establishment in Zele. KBO
- Start of the company according to the CBE. KBO
In short
From € 50,508 profit in 2022 to € 132,911 profit in 2025.
Paid € 72,591 in corporate taxes since 2022.
Best year ever: 2025, with € 132,911 profit.
Management
The stake of BNP PARIBAS FORTIS PRIVATE EQUITY BELGIUM comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
PAPILIOBehind PAPILIO are Feynman BV, Vincent De Decker and Christine Valerie Vastenavondt. The shares are held by BNP PARIBAS FORTIS PRIVATE EQUITY BELGIUM (45%). It owns 100% of Holding Memo itself.
Directors
According to the 2025 annual accounts
Director · represented by Michael De Decker
Also active at: MEMO MEDICAL, OFFITEL MEDICAL
since 2024
since 2026
since 2025
since 2024 · until 2026
Shareholders
Participations
100%
Establishments
Establishment units
Physical locations of this company
Lokerenbaan 70
9240 Zele
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 5 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Website
Technologies
Hosting & Email
Email provider
Microsoft 365
Hosting
CLOUDFLARESPECTRUM Cloudflare, Inc., US
Website info
Features
Security
Details
- Company number
- 0765.153.420
- VAT number
- BE 0765.153.420
- Registered office
- Lokerenbaan 70, 9240 Zele
- Names & denominations
- PAPILIO
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 15 March 2021
- Peppol
- Active · Active since 21 Oct 2026
- Contact
- memo.be
- Activities · NACE
Activiteiten van holdings
Holdings
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