PAF ! is an advertising agency in Watermaal-Bosvoorde. Private Limited, started on 11 July 2011, 1 establishment.

What is the address of PAF !?

The registered office of PAF ! is located at Vorstlaan 24, 1170 Watermaal-Bosvoorde.

Is PAF ! still active?

Yes. According to the CBE (31 October 2026) PAF ! is active, legal situation “Normale toestand”, started on 11 July 2011.

Is PAF ! registered on Peppol?

Yes, PAF ! is registered on the Peppol network with ID 0208:0837760393.

What is the enterprise number of PAF !?

The enterprise number of PAF ! is BE0837760393.

When was PAF ! founded?

PAF ! was founded on 11 July 2011.

Who are the directors of PAF !?

According to the 2025 annual accounts, the directors of PAF ! are: CA VA ALORS SRL, DON PAPA SRL, Grizzly Bear SRL.

Is PAF ! a reliable company?

Databakkes does not pass judgement; this is what the sources say: Active according to the CBE since 11 July 2011; 5 annual accounts filed, latest fiscal year 2025; 3 directors known from the annual account.

How much profit did PAF ! make in 2025?

PAF ! posted a profit after taxes of € 26,909 in financial year 2025.

What is the revenue of PAF !?

As a small company, PAF ! is not required to publish revenue in its annual accounts. In financial year 2025, its added value was € 425,061.

How much does an employee at PAF ! earn?

The average wage cost per full-time employee at PAF ! was € 62,300 in 2025: staff costs of € 373,530 for 6 FTE, according to the annual account at the National Bank. That is the employer's cost, not net pay.

How many employees does PAF ! have?

According to the 2025 annual accounts, PAF ! has 6 full-time equivalents (FTE).

PAF ! (Private Limited) - Watermaal-Bosvoorde

Dossier PAF !, printed on 31 October 2026 from databakkes.be/en/0837760393/paf. Sources: CBE, National Bank of Belgium, Belgian Official Gazette.

Warning lights

Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.

Busy address KBO

69 other companies have their registered office at the same address; threshold 10.

Financials

Financial year 2025

PAF ! from Watermaal-Bosvoorde, company number BE0837760393, closed financial year 2025 with a result of € 26,909 after tax. For that financial year PAF ! recorded a gross margin of € 425,061 and equity of € 188,795. Compared with financial year 2024, the result moved from € 39,118 to € 26,909. The company is profitable. The buffer is growing. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on August 31, 2026.

What it is worth Growing

€ 188,795

▲ 22% vs 2024

Assets minus debts, by the books. What is left if everything were sold and paid today.

Profit Healthy

€ 26,909

▼ 31% vs 2024

Profit after tax over the fiscal year.

Cash in the bank

€ 125,264

▲ 95% vs 2024

Cash and bank balances on the last day of the fiscal year.

Where the profit goes Growing

Stays in the company

No dividend for 2025. Retained profit grew to € 173,795.

People and assets in 2025

Full-time equivalents

▼ 1.4 vs 2024

Average over the fiscal year, from the social balance sheet.

Wage cost

€ 373,530

▼ 18% vs 2024

€ 62,300 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.

Vehicles and equipment

€ 4,549

▲ 3% vs 2024

Book value of vehicles, furniture and equipment.

Debts at end 2025

Bank debt

€ 4,214

▲ 31% vs 2024

Loans from banks and other lenders, long and short.

Owed to suppliers

€ 258,567

▲ 66% vs 2024

Supplier invoices still open on the last day of the fiscal year.

Taxes and wages

€ 80,269

▲ 66% vs 2024

Taxes, VAT and social contributions still to pay.

Key figures per fiscal year Download key figures (CSV)
	2022	2023	2024	2025	Change 2024 → 2025
Gross margin	€ 308,132 Gross margin 2022: € 308,132 First fiscal year in the series	€ 356,013 Gross margin 2023: € 356,013 ▲ 16% vs 2022 (€ 308,132) Favourable step	€ 559,293 Gross margin 2024: € 559,293 ▲ 57% vs 2023 (€ 356,013) Favourable step	€ 425,061 Gross margin 2025: € 425,061 ▼ 24% vs 2024 (€ 559,293) Unfavourable step	▼ 24%
Profit after taxes	€ -9,590 Profit after taxes 2022: € -9,590 First fiscal year in the series	€ 31,834 Profit after taxes 2023: € 31,834 ▲ € 41,424 vs 2022 (€ -9,590) Favourable step	€ 39,118 Profit after taxes 2024: € 39,118 ▲ 23% vs 2023 (€ 31,834) Favourable step	€ 26,909 Profit after taxes 2025: € 26,909 ▼ 31% vs 2024 (€ 39,118) Unfavourable step	▼ 31%
Equity	€ 83,176 Equity 2022: € 83,176 First fiscal year in the series	€ 115,010 Equity 2023: € 115,010 ▲ 38% vs 2022 (€ 83,176) Favourable step	€ 154,128 Equity 2024: € 154,128 ▲ 34% vs 2023 (€ 115,010) Favourable step	€ 188,795 Equity 2025: € 188,795 ▲ 22% vs 2024 (€ 154,128) Favourable step	▲ 22%
Total debts	€ 456,632 Total debts 2022: € 456,632 First fiscal year in the series	€ 467,201 Total debts 2023: € 467,201 ▲ 2% vs 2022 (€ 456,632) Unfavourable step	€ 227,322 Total debts 2024: € 227,322 ▼ 51% vs 2023 (€ 467,201) Favourable step	€ 395,131 Total debts 2025: € 395,131 ▲ 74% vs 2024 (€ 227,322) Unfavourable step	▲ 74%
Cash	€ 13,978 Cash 2022: € 13,978 First fiscal year in the series	€ 34,432 Cash 2023: € 34,432 ▲ 146% vs 2022 (€ 13,978) Favourable step	€ 64,340 Cash 2024: € 64,340 ▲ 87% vs 2023 (€ 34,432) Favourable step	€ 125,264 Cash 2025: € 125,264 ▲ 95% vs 2024 (€ 64,340) Favourable step	▲ 95%
Retained profit	€ 68,176 Retained profit 2022: € 68,176 First fiscal year in the series	€ 100,010 Retained profit 2023: € 100,010 ▲ 47% vs 2022 (€ 68,176) Favourable step	€ 139,128 Retained profit 2024: € 139,128 ▲ 39% vs 2023 (€ 100,010) Favourable step	€ 173,795 Retained profit 2025: € 173,795 ▲ 25% vs 2024 (€ 139,128) Favourable step	▲ 25%
Bank debt	€ 54,359 Bank debt 2022: € 54,359 First fiscal year in the series	€ 7,593 Bank debt 2023: € 7,593 ▼ 86% vs 2022 (€ 54,359) Favourable step	€ 3,212 Bank debt 2024: € 3,212 ▼ 58% vs 2023 (€ 7,593) Favourable step	€ 4,214 Bank debt 2025: € 4,214 ▲ 31% vs 2024 (€ 3,212) Unfavourable step	▲ 31%
Balance sheet total	€ 539,808 Balance sheet total 2022: € 539,808 First fiscal year in the series	€ 582,211 Balance sheet total 2023: € 582,211 ▲ 8% vs 2022 (€ 539,808) Unchanged	€ 381,450 Balance sheet total 2024: € 381,450 ▼ 34% vs 2023 (€ 582,211) Unchanged	€ 583,926 Balance sheet total 2025: € 583,926 ▲ 53% vs 2024 (€ 381,450) Unchanged	▲ 53%
Employees (FTE)	-	-	7.4 Employees (FTE) 2024: 7.4 First fiscal year in the series	6 Employees (FTE) 2025: 6 ▼ 1.4 vs 2024 (7.4) Unchanged	▼ 1.4

Key figures of PAF !, 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 PAF !?

What happened at PAF ! in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:

Aug 31, 2026 New annual accounts for financial year 2025: profit of € 26,909 (▼ 31% vs 2024). filed late Source: NBB ↗
Jul 11, 2011 Start of the company according to the CBE. KBO
Jul 7, 2011 New establishment in Watermaal-Bosvoorde. KBO

In short

From € 9,590 loss in 2022 to € 26,909 profit in 2025.

Paid € 63,409 in corporate taxes since 2022.

Best year ever: 2024, with € 39,118 profit.

On average € 70,800 of value added per employee in 2025.

Original PDFs at the National Bank ↗

Management

DON PAPA 100%

CA VA ALORS 99%

GRIZZLY BEAR 33%

The stake of DON PAPA, CA VA ALORS, GRIZZLY BEAR comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.

PAF !

Behind PAF ! are CA VA ALORS SRL, DON PAPA SRL and Grizzly Bear SRL. The shares are held by DON PAPA (100%), CA VA ALORS (99%) and GRIZZLY BEAR (33%).

Directors

According to the 2025 annual accounts

CA VA ALORS SRL

Director · represented by Laurent Schmitz

DON PAPA SRL

Director · represented by Mathieu Fontaine

Grizzly Bear SRL

Director · represented by Fabien Tielemans

Shareholders

DON PAPA

100%

CA VA ALORS

99%

GRIZZLY BEAR

33%

Participations

No participations in other companies reported.

Establishments

Establishment units

Physical locations of this company

Registered office

Vorstlaan 24

1170 Watermaal-Bosvoorde

Who else lives here?

A building full of entrepreneurs or one very busy letterbox? Another 69 companies are registered at this address.

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What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.

Details

Company number

0837.760.393

VAT number

BE 0837.760.393

Registered office

Vorstlaan 24, 1170 Watermaal-Bosvoorde

Names & denominations

PAF !

Enterprise type

Rechtspersoon

Legal form

Private limited company

Legal situation

Normale toestand

Start date

11 July 2011

Peppol

Active · Active since 16 Oct 2025

Activities · NACE

Activiteiten van reclamebureaus

Ontwerpen van computerprogramma’s

Ontwerpen en programmeren van computerprogramma's

Activiteiten van adviesbureaus op het gebied van bedrijfsvoering en overig managementadvies

Overige gespecialiseerde ontwerpactiviteiten

Overige vormen van onderwijs

Beroepsopleiding

Grafisch ontwerp en visuele communicatie

View on CBE Public ↗ Annual accounts (NBB) ↗

PAF !

Warning lights

Financials

What happened to PAF !?

Management

Directors

Shareholders

Participations

Establishments

Establishment units

Who else lives here?

Details

Frequently asked questions