ACTIVE

Papyrus Belgium Papier

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Financial year 2025 · Closed on 31/12/2025

Net result-191 k €+12,0 %over 1 year

Revenue52,2 M €-7,1 %over 1 year

Equity9,6 M €-2,0 %over 1 year

Workforce46,0 ETP-15,1 %over 1 year

Identity

Source · BCE/KBO

Papyrus Belgium Papier is a Public limited company incorporated in 1984. Its registered office is in Dilbeek. It employs on average 46,0 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0426.246.407
Incorporation: 25/09/1984
Legal form: Public limited company
Registered office: Noordkustlaan 16C
1702 Dilbeek · FlandreSee on map
Contributed capital: 8 985 666,89 €
Latest accounts: 31/12/2025
Average workforce: 46,0 ETP

Joint committees (3)

Signals

Solid equityLow riskGood liquidityPositive cashflowHealthy social debtsHigh revenue

Financials

Source · NBB, 32 filings

Trend over 16 financial years

	2025		2024		2023		2022		2019
Income statement
Revenue	52,2 M €	-7.1%	56,2 M €	-12.7%	64,4 M €	-17.2%	77,7 M €	+14.6%	67,8 M €
EBITDA	-550,9 k €	+39.6%	-911,6 k €	-150%	1,8 M €	-0.3%	1,8 M €	+54.4%	1,2 M €
Operating result	-842,8 k €	+10.1%	-937,1 k €	-163%	1,5 M €	+37.4%	1,1 M €	+3.2%	1 M €
Net result	-191 k €	+12.0%	-217,1 k €	-114%	1,6 M €	+50.7%	1 M €	-43.5%	1,8 M €
Balance sheet
Equity	9,6 M €	-2.0%	9,8 M €	-2.2%	10 M €	-1.9%	10,2 M €	-26.0%	13,7 M €
Total assets	17,4 M €	-16.0%	20,7 M €	-17.0%	25 M €	-0.8%	25,2 M €	-5.5%	26,6 M €
Cash	9,5 M €	-18.2%	11,6 M €	-23.7%	15,2 M €	+68.0%	9 M €	+5.6%	8,5 M €
Debts	7,2 M €	-30.2%	10,3 M €	-27.6%	14,2 M €	+18.7%	12 M €	-0.6%	12,1 M €
Other
Workforce	46,0 ETP	-15.1%	54,2 ETP	-0.6%	54,5 ETP	-6.0%	58,0 ETP	-16.4%	69,4 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 5 M€ and 10 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

2 active · 53 ended

Active mandates

Jenö Szilágyi

Director · since 05 mai 2025 · until 05 mai 2031

Active

Jens Thurøe

Managing director · since 05 mai 2025 · until 05 mai 2031

Active

Ended mandates

Jens Thurøe

Director · since 01 avril 2023 · until 20 mai 2025

Ended

Jens Thurøe

Managing director · since 01 avril 2023 · until 20 mai 2025

Ended

SOREN GAARDBOE

Chairman of the board of directors · since 30 juin 2020 · until 05 mai 2025

Ended

Søren Gaardboe

Director · since 30 juin 2020 · until 05 mai 2025

Ended

Other companies at this address

Noordkustlaan 16C 1702 Dilbeek

Company	CBE no.
ECOLAB● Active	0403.091.121
HAGER Modulec● Active	0421.067.003
NALCO BELGIUM● Active	0402.940.968

Full financial information

Source · NBB

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Full model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	22/05/2026	17/06/2025	10/07/2024	04/07/2023	12/07/2022	21/06/2021
General meeting	19/05/2026	12/06/2025	27/06/2024	30/06/2023	27/06/2022	18/06/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 32 filings

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	19/05/2026	22/05/2026	Dutch	PDF
Full model	31/12/2024	12/06/2025	17/06/2025	Dutch	PDF
Full model	31/12/2023	27/06/2024	10/07/2024	Dutch	PDF
Full model	31/12/2022	30/06/2023	04/07/2023	Dutch	PDF
Full model	31/12/2021	27/06/2022	12/07/2022	Dutch	PDF
Full model	31/12/2020	18/06/2021	21/06/2021	Dutch	PDF
Full model	31/12/2019	30/06/2020	14/09/2020	Dutch	PDF
Full model	31/12/2018	29/05/2019	18/10/2019	Dutch	PDF
Full model	31/12/2017	07/05/2018	01/06/2018	Dutch	PDF
Full model	31/12/2017	07/05/2018	01/06/2018	French	PDF
Full model	31/12/2016	02/05/2017	23/05/2017	French	PDF
Full model	31/12/2016	02/05/2017	23/05/2017	Dutch	PDF
Full model	31/12/2015	02/05/2016	09/12/2016	French	PDF
Full model	31/12/2015	02/05/2016	09/12/2016	Dutch	PDF
Full model	31/12/2014	04/05/2015	28/08/2015	French	PDF
Full model	31/12/2014	04/05/2015	28/08/2015	Dutch	PDF
Full model	31/12/2013	05/05/2014	24/06/2014	French	PDF
Full model	31/12/2013	05/05/2014	24/06/2014	Dutch	PDF
Full model	31/12/2012	06/05/2013	24/06/2013	French	PDF
Full model	31/12/2012	06/05/2013	24/06/2013	Dutch	PDF
Full model	31/12/2011	25/06/2012	21/08/2012	French	PDF
Full model	31/12/2011	25/06/2012	21/08/2012	Dutch	PDF
Full model	31/12/2010	02/05/2011	08/07/2011	French	PDF
Full model	31/12/2010	02/05/2011	08/07/2011	Dutch	PDF

View all 32 filings

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 5 M€ and 10 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Board of directors

Source · NBB, accounts to 31/12/2025

2 active · 53 ended

Active mandates

Jenö Szilágyi

Director · since 05 mai 2025 · until 05 mai 2031

Active

Jens Thurøe

Managing director · since 05 mai 2025 · until 05 mai 2031

Active

Ended mandates

Jens Thurøe

Director · since 01 avril 2023 · until 20 mai 2025

Ended

Jens Thurøe

Managing director · since 01 avril 2023 · until 20 mai 2025

Ended

SOREN GAARDBOE

Chairman of the board of directors · since 30 juin 2020 · until 05 mai 2025

Ended

Søren Gaardboe

Director · since 30 juin 2020 · until 05 mai 2025

Ended

Ownership and network

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Try for free

Belgian Official Gazette publications

Source · Belgian Official Gazette

Mandates21/08/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates21/08/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates12/03/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates06/10/2023
ONTSLAGEN - BENOEMINGEN
PDF
Restructuring07/07/2021
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring10/05/2021
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Mandates26/04/2021
MAATSCHAPPELIJKE ZETEL - ONTSLAGEN - BENOEMINGEN
PDF
Mandates08/01/2020
ONTSLAGEN - BENOEMINGEN
PDF

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

Timeline

2025
Annual accounts 2025-191 k €↑
2024
Annual accounts 2024-217,1 k €↓
2023
Annual accounts 20231,6 M €↑
2022
Annual accounts 20221 M €↓
2019
Annual accounts 20191,8 M €↑
2018
Annual accounts 2018470,4 k €↓
2017
Annual accounts 2017531 k €↓
2016
Annual accounts 20163 M €↑
2015
Annual accounts 2015796 k €↑
2013
Annual accounts 2013-1,2 M €↓
2012
Annual accounts 2012-1,2 M €↓
2011
Annual accounts 2011-492 k €↓
2010
Annual accounts 20101,2 M €↓
2009
Annual accounts 20091,4 M €↓
2008
Annual accounts 20082,1 M €↓
2007
Annual accounts 20072,6 M €
25/09/1984
IncorporationPublic limited company

Papyrus Belgium Papier

Overview

Identity

Financials

Valuation

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline

Timeline