ACTIVE

POPAY BE

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Financial year 2025 · closed on 31/12/2025

Net result

241 k €

-35.7% YoY

Gross margin

1 M €

-4.1% YoY

Equity

869 k €

+38.4% YoY

Workforce

7,6 ETP

+1.3% YoY

What does POPAY BE do?

POPAY BE is a Private limited company incorporated in 2010. Its registered office is in Leuven. It employs on average 7,6 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0830.804.010

Incorporation

02/11/2010

Legal form

Private limited company

Registered office

Asstraat 5
3000 Leuven · FlandreSee on map

Contributed capital

20 000,00 €

Latest accounts

31/12/2025

Average workforce

7,6 ETP

Joint committees (2)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 15 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011
Income statement
Gross margin	1 M €	-4.1%	1,1 M €	+19.7%	892,6 k €	+64.5%	542,7 k €	-2.5%	556,5 k €	-12.1%	632,9 k €	+11.7%	566,8 k €	+2.9%	550,7 k €	+10.5%	498,6 k €	+3.3%	482,6 k €	+2.9%	468,8 k €	+6.7%	439,5 k €	+58.2%	277,9 k €	+52.6%	182,1 k €	-27.4%	250,8 k €
EBITDA	348,8 k €	-23.6%	456,7 k €	+65.7%	275,5 k €	+71.8%	160,4 k €	-39.4%	264,8 k €	-17.9%	322,4 k €	+84.3%	174,9 k €	+6.4%	164,4 k €	+13.3%	145,1 k €	+39.2%	104,3 k €	+92.7%	54,1 k €	+47.5%	36,7 k €	-42.3%	63,5 k €	-28.1%	88,4 k €	-39.2%	145,5 k €
Operating result	329,1 k €	-27.6%	454,6 k €	+72.7%	263,3 k €	+126%	116,5 k €	-47.2%	220,4 k €	-18.9%	271,7 k €	+126%	120 k €	+4.7%	114,6 k €	-5.1%	120,8 k €	+51.1%	80 k €	+197%	26,9 k €	+39.8%	19,3 k €	-58.4%	46,3 k €	-41.1%	78,5 k €	-41.2%	133,6 k €
Net result	241 k €	-35.7%	374,6 k €	+99.1%	188,1 k €	+110%	89,5 k €	-44.5%	161,3 k €	-20.7%	203,5 k €	+161%	77,9 k €	+7.4%	72,6 k €	+1.0%	71,9 k €	+55.3%	46,3 k €	+117%	21,3 k €	+256%	6 k €	-75.4%	24,4 k €	-50.2%	49 k €	-42.1%	84,6 k €
Balance sheet
Equity	869 k €	+38.4%	628 k €	+48.3%	423,4 k €	+69.2%	250,2 k €	-34.3%	381,1 k €	+18.4%	321,8 k €	+1.1%	318,3 k €	+32.4%	240,4 k €	+43.2%	167,8 k €	+22.7%	136,8 k €	+4.1%	131,4 k €	+19.4%	110 k €	+5.8%	104 k €	+3.9%	100,1 k €	+27.3%	78,6 k €
Total assets	1,6 M €	+25.1%	1,2 M €	+45.3%	859,8 k €	-11.4%	970,7 k €	-6.8%	1 M €	-8.6%	1,1 M €	+76.2%	646,6 k €	-19.1%	799,2 k €	+4.6%	764,4 k €	-1.2%	773,8 k €	+9.6%	706,2 k €	+53.0%	461,6 k €	+44.1%	320,3 k €	+2.6%	312,3 k €	-18.7%	384,3 k €
Cash	214,5 k €	+238%	63,5 k €	-44.3%	114 k €	-50.8%	231,6 k €	-25.3%	310,2 k €	+101%	154,2 k €	+2.9%	149,8 k €	+61.1%	93 k €	-11.2%	104,7 k €	-38.6%	170,6 k €	+89.9%	89,9 k €	+119%	41,1 k €	-74.5%	161 k €	+41.4%	113,8 k €	-11.3%	128,3 k €
Debts	694,1 k €	+11.7%	621,6 k €	+42.4%	436,4 k €	-39.4%	720,5 k €	+9.1%	660,5 k €	+3.8%	636,1 k €	+169%	236,6 k €	-41.1%	401,7 k €	-0.8%	404,9 k €	-10.3%	451,4 k €	-21.5%	574,8 k €	+63.5%	351,6 k €	+62.6%	216,2 k €	+1.9%	212,2 k €	-30.6%	305,7 k €
Other
Workforce	7,6 ETP	+1.3%	7,5 ETP		–		–		–		4,0 ETP	-32.2%	5,9 ETP	+7.3%	5,5 ETP	+14.6%	4,8 ETP	-9.4%	5,3 ETP	-11.7%	6,0 ETP	-9.1%	6,6 ETP	+94.1%	3,4 ETP	+100%	1,7 ETP	+30.8%	1,3 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 10 ended

Active mandates

GUIDELINE SOLUTIONS

Director · since 01 août 2022 · 0462.039.605

Represented by Willems WERNER

Active

POPAY CORPORATE

Director · since 18 octobre 2010 · 0866.523.170

Represented by Bert Vandenbussche

Active

Ended mandates

GUIDELINE SOLUTIONS

Director · since 01 août 2022 · 0462.039.605

Represented by Werner WILLEMS

Ended

POPAY CORPORATE

Director · since 18 octobre 2010 · 0866.523.170

Represented by Bert VANDENBUSSCHE

Ended

Werner Willems

Director · since 18 octobre 2010

Ended

POPAY CORPORATE

Manager · 0866.523.170

Represented by Bert Vandenbussche

Ended

At this address

Other companies at this address

Company	CBE no.
REVO● Active	1036.362.846
VAARTCO● Active	0715.610.174

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged 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	16/07/2026	23/07/2025	28/05/2024	31/07/2023	11/08/2022	23/07/2021
General meeting	30/06/2026	30/06/2025	23/05/2024	30/06/2023	13/07/2022	25/06/2021
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

Ratios

Financial ratios

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Filings

Annual accounts filings

15 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	30/06/2026	16/07/2026	Dutch	PDF
Abridged model	31/12/2024	30/06/2025	23/07/2025	Dutch	PDF
Abridged model	31/12/2023	23/05/2024	28/05/2024	Dutch	PDF
Abridged model	31/12/2022	30/06/2023	31/07/2023	Dutch	PDF
Abridged model	31/12/2021	13/07/2022	11/08/2022	Dutch	PDF
Abridged model	31/12/2020	25/06/2021	23/07/2021	Dutch	PDF
Abridged model	31/12/2019	15/06/2020	03/07/2020	Dutch	PDF
Abridged model	31/12/2018	25/06/2019	23/07/2019	Dutch	PDF
Abridged model	31/12/2017	25/06/2018	03/07/2018	Dutch	PDF
Abridged model	31/12/2016	30/06/2017	14/07/2017	Dutch	PDF
Abridged model	31/12/2015	30/06/2016	29/07/2016	Dutch	PDF
Abridged model	31/12/2014	15/06/2015	27/07/2015	Dutch	PDF
Abridged model	31/12/2013	30/06/2014	28/07/2014	Dutch	PDF
Abridged model	31/12/2012	15/06/2013	28/06/2013	Dutch	PDF
Abridged model	31/12/2011	15/06/2012	26/06/2012	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 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.

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 10 ended

Active mandates

GUIDELINE SOLUTIONS

Director · since 01 août 2022 · 0462.039.605

Represented by Willems WERNER

Active

POPAY CORPORATE

Director · since 18 octobre 2010 · 0866.523.170

Represented by Bert Vandenbussche

Active

Ended mandates

GUIDELINE SOLUTIONS

Director · since 01 août 2022 · 0462.039.605

Represented by Werner WILLEMS

Ended

POPAY CORPORATE

Director · since 18 octobre 2010 · 0866.523.170

Represented by Bert VANDENBUSSCHE

Ended

Werner Willems

Director · since 18 octobre 2010

Ended

POPAY CORPORATE

Manager · 0866.523.170

Represented by Bert Vandenbussche

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates01/03/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - DIVERSEN - ONTSLAGEN - BENOEMINGEN
PDF
Mandates17/08/2022
ONTSLAGEN - BENOEMINGEN
PDF
Registered office03/10/2019
MAATSCHAPPELIJKE ZETEL
PDF
Registered office04/10/2013
MAATSCHAPPELIJKE ZETEL
PDF
Other16/11/2010
RUBRIEK OPRICHTING (NIEUWE RECHTSPERSOON, OPENING BIJKANTOOR, ENZ...)
PDF

Source: Belgian Official Gazette

Competition

Similar companies

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

See the Business plan

2025
Annual accounts 2025241 k €↓
2024
Annual accounts 2024374,6 k €↑
2023
Annual accounts 2023188,1 k €↑
2022
Annual accounts 202289,5 k €↓
2021
Annual accounts 2021161,3 k €↓
2020
Annual accounts 2020203,5 k €↑
2019
Annual accounts 201977,9 k €↑
2018
Annual accounts 201872,6 k €↑
2017
Annual accounts 201771,9 k €↑
2016
Annual accounts 201646,3 k €↑
2015
Annual accounts 201521,3 k €↑
2014
Annual accounts 20146 k €↓
2013
Annual accounts 201324,4 k €↓
2012
Annual accounts 201249 k €↓
2011
Annual accounts 201184,6 k €
02/11/2010
IncorporationPrivate limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

POPAY BE

Overview

What does POPAY BE do?

Trend over 15 financial years

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