Losses
-€41,349 in three years
Every financial year from 2023 to 2025 closed with a loss. 2025 was the heaviest.
PI.COTTAGE
Lifetime
20 annual accounts with figures on one time axis, 28 filings since 1998peak €1.1m (2009)
-€2,653▼ €14,625
lowest -€70,703 (2021)
-€27,043▼ €19,601
peak €1.6m (2025)
€1.6m▲ 16.2%
€34,145▲ 62.8%
peak 9.3 FTE (2010)
-not published
Board4 names since 2017
1 directorPatrick Wille
Documentsfilings and deeds
28-07-20263 days before the deadline
2025financial year
Gross margin from €11,972 to -€2,653Loss of €27,043Capital increase of €250,000 to €1,000,000 11-12Equity from €1.4m to €1.6mDebts from €20,972 to €34,145Investments €338,744
Key points
from the 2025 annual accountsInvestments
€338,744 21.6 × depreciation
Green is investment, beige is depreciation.
Position in the sector
97.9%
Higher solvency than 93% of companies in head offices and management consultancy. Sector median 53.3% · 3,873 companies.
Checked score
94
Excellent
Financially stronger than 51% of micro companies in head offices and management consultancy (NACE 70)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
< 0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 48,570 companies (NACE 70, micro).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: < 0.1%
01-2025: < 0.1%● unchanged vs 12-2024lowest value
02-2025: < 0.1%● unchanged vs 01-2025
03-2025: < 0.1%● unchanged vs 02-2025
04-2025: < 0.1%● unchanged vs 03-2025
05-2025: < 0.1%● unchanged vs 04-2025
06-2025: < 0.1%● unchanged vs 05-2025
07-2025: < 0.1%● unchanged vs 06-2025
08-2025: < 0.1%● unchanged vs 07-2025
09-2025: < 0.1%● unchanged vs 08-2025
10-2025: < 0.1%● unchanged vs 09-2025
11-2025: < 0.1%● unchanged vs 10-2025
12-2025: < 0.1%● unchanged vs 11-2025
01-2026: < 0.1%● unchanged vs 12-2025
02-2026: < 0.1%● unchanged vs 01-2026
03-2026: < 0.1%● unchanged vs 02-2026
04-2026: < 0.1%● unchanged vs 03-2026
05-2026: < 0.1%● unchanged vs 04-2026
06-2026: < 0.1%● unchanged vs 05-2026
07-2026: < 0.1%● unchanged vs 06-2026
08-2026: < 0.1%● unchanged vs 07-2026highest value
09-2026: < 0.1%● unchanged vs 08-2026highest value
10-2026: < 0.1%● unchanged vs 09-2026highest value
11-2026: < 0.1%● unchanged vs 10-2026highest value
Financial strengthAverage
Score breakdown
raises risk
Liquidity: current ratio 4.13, cash €45,626, halved
lowers risk
Size: total assets €1.6m
Equity €1.6m (97.9% of total assets)
Sector: Activities of head offices; management consultancy activities (NACE 70)
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 70, micro). It does better than 86% of them on solvency, 43% on liquidity, 13% on profitability and 64% on growth.
The bankruptcy probability was computed on 08-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 8,617 companies had the same profile as PI.COTTAGE has now. Each dot stands for 22 companies, two years later.
94.2%
were still trading
5.2%
stopped another way
0.4%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of PI.COTTAGE itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 8,617 companies, not a prediction for PI.COTTAGE. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €150,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 4.13 (11.46 in 2024), above the usual 1.5. Short-term debt is 2% and cash 2.8% of total assets. 2.1% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-07-2026, 3 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
3 days early
2024
6 days early
2023
7 days early
2022
17 days early
2021
5 days early
2020
87 days late
2019
91 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 20 days after the deadline. In the sector (NACE 70), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 25 July (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Capital increase of €250,000 to €1,000,000
Capital from €750,000 to €1,000,000 · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0461037139
Capital increase of €500,000 to €750,000
Capital from €250,000 to €750,000 · Capital contribution: Inschrijving en storting op de kapitaalverhoging · General meeting of 05-10-2023 · Gazette deed
Environmental permit granted
Bouwen of herbouwen · Zuienkerke
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| PI.COTTAGE Grimbergen | €1.6m | -€2,653 | 97.9% | - |
| GOLENVAUX & C° Wezembeek-Oppem | €1.6m | -€6,975 | 93.2% | 0 |
| DRAGON REAL ESTATE Meise | €1.5m | -€2,597 | 98.8% | - |
| CHOKRAN Affligem | €1.7m | -€19,521 | 14.1% | - |
| FANSON Pepingen | €2.0m | -€83,579 | -34.6% | - |
| GIHAC Sint-Genesius-Rode | €2.0m | -€81,933 | 94.3% | - |
| TWEE-DE Ternat | €1.4m | -€31,395 | 34.0% | - |
These companies have the same main activity as PI.COTTAGE: business and other management consultancy (NACE 70200). They are comparable in size and age: total assets between €1.4m and €2m, founded between 1993 and 2001.
Official details
Source: KBO- Status
- Active since 14-07-1997Normal situation
- Activity
- Business and other management consultancyNACE 70200and 1 other
- Establishment unit
- 2.082.758.4621850 Grimbergen, since 25-07-1997
- Financial year end
- 31 December
- Peppol
- Reachable since 30-10-2023
Annual accounts 2025
- €1.6m▲ 16.9%
- Filing
- Filed on 28-07-2026, 3 days before the end of the filing period
Insights on PI.COTTAGE
PI.COTTAGE has existed since 1997. In 2022 the gross margin rose from €4,465 to €409,990.
The gross margin has fallen every year since 2022.
In April 2022, three directors stepped down.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about PI.COTTAGE
- What is the company number of PI.COTTAGE?
- The company number of PI.COTTAGE is 0461.037.139. The VAT number is the same number with BE in front: BE 0461.037.139.
- Where is PI.COTTAGE based?
- The registered office is at Prinsenstraat 40, 1850 Grimbergen.Company details
- What does PI.COTTAGE do?
- According to the KBO register, the main activity is business and other management consultancy (NACE 70200).
- What is the legal form of PI.COTTAGE?
- PI.COTTAGE is a public limited company (NV).
- When was PI.COTTAGE founded?
- PI.COTTAGE was founded on 14-07-1997.
- Is PI.COTTAGE still active?
- Yes, PI.COTTAGE is an active enterprise in the KBO register.
- What is the turnover of PI.COTTAGE?
- The annual accounts for financial year 2025 state no turnover.Financials
- Is PI.COTTAGE profitable?
- In financial year 2025, PI.COTTAGE made a loss of €27,043.
- Where can I find the annual accounts of PI.COTTAGE?
- PI.COTTAGE filed 28 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of PI.COTTAGE due?
- PI.COTTAGE must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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