ACTIVE

PAF !

Financial year 2025 · closed on 31/12/2025
Net result
26,9 k €
-31.2% YoY
Gross margin
425,1 k €
-24.0% YoY
Equity
188,8 k €
+22.5% YoY
Workforce
6,0 ETP
-18.9% YoY

What does PAF ! do?

PAF ! is a Private company with limited liability incorporated in 2011. Its main activity is: Computer programming activities. Its registered office is in Watermael-Boitsfort. It employs on average 6,0 ETP workers (FTE).

Legal situation
Normal situation
BCE/KBO no. / VAT
BE 0837.760.393
Incorporation
11/07/2011
Legal form
Private company with limited liability
Registered office
Boulevard du Souverain 24
1170 Watermael-Boitsfort · BruxellesSee on map
Contributed capital
15 000,00 €
Latest accounts
31/12/2025
Average workforce
6,0 ETP
Joint committees (1)
  • 200
Signals
ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts
Health score
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✦ Verdict · Analyst summary
Financials

Trend over 14 financial years

20252024202320222021202020192018201720162015201420132012
Income statement
Gross margin425,1 k €559,3 k €356 k €308,1 k €256,7 k €276,5 k €270,5 k €273,5 k €225,2 k €166,5 k €122,3 k €48,4 k €24,8 k €2,3 k €
EBITDA49,9 k €102,7 k €60,7 k €14,9 k €71,4 k €49,6 k €48,5 k €24,8 k €16,9 k €28,6 k €51,8 k €28,7 k €23,7 k €967,5 €
Operating result43,4 k €96,9 k €56,6 k €7,3 k €63,8 k €43,4 k €41,7 k €14,9 k €7,8 k €18,2 k €45,9 k €21,6 k €18,3 k €-7,2 k €
Net result26,9 k €39,1 k €31,8 k €-9,6 k €52 k €113,3 k €14,7 k €6,4 k €1,9 k €9,5 k €28 k €12,8 k €13,6 k €-8,4 k €
Balance sheet
Equity188,8 k €154,1 k €115 k €83,2 k €92,8 k €40,7 k €77,5 k €62,8 k €56,4 k €54,5 k €45 k €17 k €12,2 k €6,6 k €
Total assets583,9 k €381,4 k €582,2 k €539,8 k €563,1 k €563 k €436,4 k €258,6 k €219 k €181,7 k €199,5 k €69,6 k €48,3 k €26,5 k €
Cash125,3 k €64,3 k €34,4 k €14 k €15,8 k €18,6 k €40,9 k €40,6 k €23,2 k €36,7 k €81,6 k €10,3 k €17 k €4,5 k €
Debts395,1 k €213,3 k €410,5 k €456,6 k €470,3 k €490,1 k €300,1 k €195,8 k €162,6 k €127,2 k €154,5 k €52,7 k €36,1 k €19,9 k €
Other
Workforce6,0 ETP7,4 ETP3,8 ETP
Estimate

Indicative valuation

As an indication, this company is worth

between 250 k€ and 500 k€
See the valuation
Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 9 ended

Active mandates

CA VA ALORS

Director · 0742.549.252

Represented by Laurent Schmitz

Active
DON PAPA

Director · 0741.984.969

Represented by Mathieu Fontaine

Active
GRIZZLY BEAR

Director · 0743.647.332

Represented by Fabien Tielemans

Active

Ended mandates

CA VA ALORS

Director · since 13 novembre 2024 · 0742.549.252

Represented by Laurent Schmitz

Ended
DON PAPA

Director · since 13 novembre 2024 · 0741.984.969

Represented by Mathieu Fontaine

Ended
GRIZZLY BEAR

Director · since 13 novembre 2024 · 0743.647.332

Represented by Fabien Tielemans

Ended
Fabien Tielemans

Mandate

Ended
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Annual accounts

Full financial information

202520242023202220212020
Type of accountAbridged modelAbridged modelMicro modelMicro modelMicro modelMicro model
Start of the financial year01/01/202501/01/202401/01/202301/01/202201/01/202101/01/2020
Closing of the financial year31/12/202531/12/202431/12/202331/12/202231/12/202131/12/2020
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date31/08/202628/08/202526/06/202409/08/202318/08/202228/01/2022
General meeting15/06/202615/06/202515/06/202415/06/202315/06/202215/06/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls
Ratios

Financial ratios

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Filings

Annual accounts filings

14 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Abridged model31/12/202515/06/202631/08/2026FrenchPDF
Abridged model31/12/202415/06/202528/08/2025FrenchPDF
Micro model31/12/202315/06/202426/06/2024FrenchPDF
Micro model31/12/202215/06/202309/08/2023FrenchPDF
Micro model31/12/202115/06/202218/08/2022FrenchPDF
Micro model31/12/202015/06/202128/01/2022FrenchPDF
Micro model31/12/201915/06/202007/10/2020FrenchPDF
Micro model31/12/201815/06/201909/08/2019FrenchPDF
Micro model31/12/201715/06/201822/08/2018FrenchPDF
Micro model31/12/201615/06/201729/08/2017FrenchPDF
Abridged model31/12/201515/06/201625/08/2016FrenchPDF
Abridged model31/12/201422/06/201525/08/2015FrenchPDF
Abridged model31/12/201315/06/201431/07/2014FrenchPDF
Abridged model31/12/201217/06/201301/08/2013FrenchPDF
Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 250 k€ and 500 k€

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 · 3 active · 9 ended

Active mandates

CA VA ALORS

Director · 0742.549.252

Represented by Laurent Schmitz

Active
DON PAPA

Director · 0741.984.969

Represented by Mathieu Fontaine

Active
GRIZZLY BEAR

Director · 0743.647.332

Represented by Fabien Tielemans

Active

Ended mandates

CA VA ALORS

Director · since 13 novembre 2024 · 0742.549.252

Represented by Laurent Schmitz

Ended
DON PAPA

Director · since 13 novembre 2024 · 0741.984.969

Represented by Mathieu Fontaine

Ended
GRIZZLY BEAR

Director · since 13 novembre 2024 · 0743.647.332

Represented by Fabien Tielemans

Ended
Fabien Tielemans

Mandate

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Registered office02/12/2025
    SIEGE SOCIAL - OBJET
    PDF
  • Mandates26/06/2025
    DEMISSIONS, NOMINATIONS
    PDF
  • Restructuring16/07/2024
    CAPITAL, ACTIONS - RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
    PDF
  • Restructuring13/02/2024
    RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...) - DIVERS
    PDF
  • Registered office03/03/2022
    SIEGE SOCIAL
    PDF
  • Mandates20/03/2015
    SIEGE SOCIAL - DEMISSIONS, NOMINATIONS
    PDF
  • Other22/07/2011
    RUBRIQUE CONSTITUTION (NOUVELLE PERSONNE MORALE, OUVERTURE SUCCURSALE, ETC...)
    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

Timeline

  1. 2025
    Annual accounts 202526,9 k €
  2. 2024
    Annual accounts 202439,1 k €
  3. 2023
    Annual accounts 202331,8 k €
  4. 2022
    Annual accounts 2022-9,6 k €
  5. 2021
    Annual accounts 202152 k €
  6. 2020
    Annual accounts 2020113,3 k €
  7. 2019
    Annual accounts 201914,7 k €
  8. 2018
    Annual accounts 20186,4 k €
  9. 2017
    Annual accounts 20171,9 k €
  10. 2016
    Annual accounts 20169,5 k €
  11. 2015
    Annual accounts 201528 k €
  12. 2014
    Annual accounts 201412,8 k €
  13. 2013
    Annual accounts 201313,6 k €
  14. 2012
    Annual accounts 2012-8,4 k €
  15. 11/07/2011
    IncorporationPrivate company with limited liability