BSI Pipe Systems
ActiveSummary
BSI Pipe Systems has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €5.2m and a net result of -€427,692. Equity is growing by ~13.4% per year across the filed fiscal years. Its solvency ranks better than 62% of 448 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
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Signals
This company filed its last 7 accounts on average 23 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
Checked, nothing found (2)
History
BSI Pipe Systems was incorporated on 4 October 2007.1 The registered office was moved to Seneffe in 2020.2 The name was changed to BSI Pipe Systems in 2024.3 In 2025 the capital was increased 2 times, most recently to EUR 6.1 million.45 The board currently has 7 members; BREMHOVE has served longest, since 2018.6
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Financials · fiscal year 2025, full schema
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 77, Rental and leasing activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
- 2025 Equity +227%, Total assets +501% on 2024. Branch of activity received from B.S.I., effective 17-09-2025. Capital increase of €4,034,302 (Official Gazette 29-12-2025).
Peer companies
Historical observationOf the 2,687 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 94% are still going.
- Small
- 10 to 20 years old
- solvency 30% or more
- a small loss
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.5% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 2,687 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | - | €5.8m | - |
| Turnover70 | - | - | - | - | €6.0m | - |
| Change in stocks of work in progress, finished goods and contracts in progress71 | - | - | - | - | -€208,488 | - |
| Other operating income74 | - | - | - | - | €9,884 | - |
| Operating charges60/66A | - | - | - | - | €6.1m | - |
| Goods for resale, raw materials and consumables60 | - | - | - | - | €3.5m | - |
| Purchases600/8 | - | - | - | - | €3.4m | - |
| Change in stocks: decrease (increase)609 | - | - | - | - | €79,819 | - |
| Services and other goods61 | - | - | - | - | €1.2m | - |
| Remuneration, social security and pensions62 | - | - | - | - | €943,794 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | - | €408,837 | - |
| Other operating charges640/8 | €868 | €1,168 | €1,660 | €1,368 | €9,488 | ▲ 594% |
| Gross operating margin9900 | €75,608 | €161,430 | €161,384 | €76,163 | - | - |
| Operating profit (loss)9901 | €74,740 | €160,263 | €159,724 | €74,795 | -€295,416 | ▼ 495% |
| Financial income75/76B | €8,090 | €11,840 | €42,750 | €52,880 | €21,790 | ▼ 58.8% |
| Recurring financial income75 | €8,090 | €11,840 | €42,750 | €52,880 | €21,790 | ▼ 58.8% |
| Income from current assets751 | - | - | - | - | €21,790 | - |
| Financial charges65/66B | €152 | €150 | €150 | €171 | €154,066 | ▲ 89,808% |
| Recurring financial charges65 | €152 | €150 | €150 | €171 | €154,066 | ▲ 89,808% |
| Debt charges650 | - | - | - | - | €63,720 | - |
| Other financial charges652/9 | - | - | - | - | €90,346 | - |
| Profit (loss) for the period before taxes9903 | €82,678 | €171,953 | €202,324 | €127,504 | -€427,692 | ▼ 435% |
| Profit (loss) for the period9904 | €82,678 | €171,953 | €202,324 | €127,504 | -€427,692 | ▼ 435% |
| Profit (loss) for the period to be appropriated9905 | €82,678 | €171,953 | €202,324 | €127,504 | -€427,692 | ▼ 435% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.1m | €1.3m | €1.5m | €1.6m | €9.6m | ▲ 501% |
| Fixed assets21/28 | - | - | €0 | - | €5.7m | - |
| Intangible fixed assets21 | - | - | €0 | - | €4,237 | - |
| Tangible fixed assets22/27 | - | - | €0 | - | €5.7m | - |
| Land and buildings22 | - | - | - | - | €19,000 | - |
| Plant, machinery and equipment23 | - | - | €0 | - | €1.8m | - |
| Furniture and vehicles24 | - | - | - | - | €235,117 | - |
| Leasing and similar rights25 | - | - | - | - | €3.6m | - |
| Financial fixed assets28 | - | - | - | - | €649 | - |
| Other financial fixed assets284/8 | - | - | - | - | €649 | - |
| Amounts receivable and cash guarantees285/8 | - | - | - | - | €649 | - |
| Current assets29/58 | €1.1m | €1.3m | €1.5m | €1.6m | €3.8m | ▲ 140% |
| Amounts receivable after more than one year29 | €841,826 | €1.0m | €1.3m | €1.4m | - | - |
| Other amounts receivable291 | €841,826 | €1.0m | €1.3m | €1.4m | - | - |
| Stocks and contracts in progress3 | - | - | - | - | €2.9m | - |
| Stocks30/36 | - | - | - | - | €2.9m | - |
| Raw materials and consumables30/31 | - | - | - | - | €1.4m | - |
| Finished goods33 | - | - | - | - | €1.4m | - |
| Goods purchased for resale34 | - | - | - | - | €95,920 | - |
| Amounts receivable within one year40/41 | €208,945 | €200,855 | €143,178 | €187,499 | €791,801 | ▲ 322% |
| Trade receivables40 | €208,945 | €200,855 | €143,178 | €187,499 | €783,799 | ▲ 318% |
| Other amounts receivable41 | - | - | - | - | €8,002 | - |
| Cash at bank and in hand54/58 | €40,265 | €49,491 | €10,250 | €47,020 | €83,981 | ▲ 78.6% |
| Deferred charges and accrued income490/1 | - | €11,840 | - | - | €59,003 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.1m | €1.3m | €1.5m | €1.6m | €9.6m | ▲ 501% |
| Equity10/15 | €1.1m | €1.3m | €1.5m | €1.6m | €5.2m | ▲ 227% |
| Contributions10/11 | €2.1m | €2.1m | €2.1m | €2.1m | €6.1m | ▲ 196% |
| Capital10 | €2.1m | €2.1m | €2.1m | €2.1m | €6.1m | ▲ 196% |
| Issued capital100 | €2.1m | €2.1m | €2.1m | €2.1m | €6.1m | ▲ 196% |
| Profit (loss) carried forward14 | -€974,114 | -€802,162 | -€599,838 | -€472,334 | -€900,026 | ▼ 90.5% |
| Amounts payable17/49 | €3,151 | €2,905 | €3,662 | - | €4.4m | - |
| Amounts payable after more than one year17 | - | - | - | - | €2.6m | - |
| Financial debts170/4 | - | - | - | - | €2.6m | - |
| Leasing and similar obligations172 | - | - | - | - | €2.6m | - |
| Amounts payable within one year42/48 | €3,151 | €2,905 | €3,662 | - | €1.8m | - |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €716,445 | - |
| Trade debts44 | €287 | - | €757 | - | €908,507 | - |
| Suppliers440/4 | €287 | - | €757 | - | €908,507 | - |
| Taxes, remuneration and social security45 | €2,864 | €2,905 | €2,905 | - | €178,753 | - |
| Taxes450/3 | €2,864 | €2,905 | €2,905 | - | €96,976 | - |
| Remuneration and social security454/9 | - | - | - | - | €81,778 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €82,678 | €171,953 | €202,324 | €127,504 | -€427,692 | ▼ 435% |
| + Depreciation and write-downs630 | - | - | - | - | €408,837 | - |
| Operating cash flow (approximation) | €82,678 | €171,953 | €202,324 | €127,504 | -€18,855 | ▼ 115% |
| Change in cash | - | €9,226 | -€39,241 | €36,771 | €36,961 | ▲ 0.5% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
07-08
State Gazette act
Appointment: SRL DPO Bedrijfsrevisoren (commissaire aux comptes)Power of attorney3 facts ▸
- General meeting, 06-02-2026
- Auditor appointment, SRL DPO Bedrijfsrevisoren (commissaire aux comptes)
- Power of attorney, Wouter Adriansens
29-12
State Gazette act
Capital & shares · RestructuringAppointment: Christiaan DEPOORTER (director) · Judicial annulment · Demerger7 facts ▸
- General meeting, 03-12-2025
- Judicial annulment, 02-07-2025
- Demerger, 17-09-2025
- Capital increase, €4.034.301,91
- Share issue, 5233, 770,93 EUR
- Accounting effect, 01-07-2025
- Director appointment, Christiaan DEPOORTER (director)
24-10
State Gazette act
Capital & shares · PurposeAppointment: DPO BEDRIJFSREVISOREN (statutory auditor) · Demerger · Share issue8 facts ▸
- Board meeting, 17-09-2025
- Demerger, apport d'une branche d'activité
- Share issue, 5233
- Accounting effect, 01-07-2025
- Auditor appointment, DPO BEDRIJFSREVISOREN
- Board meeting, 02-07-2025
- Demerger exclusion, créances des clients et dettes des fournisseurs
- Financial arrangement, facturation des installations, machines et outillages transférés
24-07
State Gazette act
Capital & sharesAppointment: Christiaan DEPOORTER (director) · Demerger · Capital increase8 facts ▸
- General meeting, 02-07-2025
- Demerger, 19-05-2025
- Capital increase, €254.346,7
- Share issue, 329, EUR
- Accounting effect, 01-07-2025
- Capital, €2.316.346,7
- Director appointment, Christiaan DEPOORTER (director)
- Share concentration, déclaration de la réunion de toutes les actions entre les mains d'une personne
28-05
State Gazette act
Statutes amendmentAppointment: DPO BEDRIJFSREVISOREN (statutory auditor) · Demerger · Share issue7 facts ▸
- Demerger, apport d'une branche d'activité
- Share issue, 329
- Accounting effect, 01-07-2025
- Auditor appointment, DPO BEDRIJFSREVISOREN
- Transfer exclusion, créances des clients et dettes des fournisseurs
- Reservation of right, facturation de la différence entre le stock au 30/06/2025 et les factures à recevoir relatives aux installations, machines et outillages transférés
- Transfer exclusion, contrats d'assurance, baux relatifs au site à Seneffe, ponts roulants, cabines électriques (HT et BT), chaudières gaz mazout, aérothermes, tous les éléments non…
22-11
State Gazette act
Purpose · Resignations & appointmentsName change · Purpose change · Power of attorney7 facts ▸
- General meeting, 19-11-2024
- Name change, BSI Pipe Systems
- Purpose change, La société a pour objet, pour son compte ou pour compte d'autrui, en Belgique ou à l'étranger : - la fabrication de plaques, feuilles, tubes et/ou profilés en m…
- Power of attorney, Jo Claeys
- Power of attorney, Glynis Vergote de Lantsheere
- Power of attorney, Ivan Van den Bulcke
- Power of attorney, Wouter Adriansens
26-06
State Gazette act
Capital & shares · RestructuringDemerger · Power of attorney · Contribution in kind9 facts ▸
- General meeting, 17-06-2024
- Demerger, scission partielle par constitution, constatée
- Power of attorney, Adriansens Wouter
- Power of attorney, Ivan Van den Bulcke
- Contribution in kind, 5.573.375,63 EUR
- Share issue, 9.576.293 actions
- Demerger proposal, 18-04-2024
- Demerger proposal filing, 02-05-2024
- Demerger proposal publication, 14-05-2024
Show earlier events
14-05
State Gazette act
Restructuring · MiscellaneousAppointment: DPO BEDRIJFSREVISOREN (statutory auditor) · Merger · Capital11 facts ▸
- Board meeting, 18-04-2024
- Merger, Transfert de la BU Hermelock, BU Dalan et BU Injection de la SA B.S.I. à la SA EJ IMCOMA
- Merger, Transfert de la BU Imcoma de la SA IMCOMA à la SA EJ IMCOMA
- Merger, Transfert des installations, machines et outillages de la SA HERMELOCK PETIT RECHAIN à la SA EJ IMCOMA
- Capital, €883.198,03
- Share issue, 1224896
- Share issue, 1034526
- Share issue, 7316871
- Accounting effect, 01-01-2024
- Auditor appointment, DPO BEDRIJFSREVISOREN
- No cash consideration, sans soulte en espèces
05-01
State Gazette act
Capital & sharesDeclaration date1 fact ▸
- Declaration date, 09-11-2023
28-12
State Gazette act
Reappointments: BREMHOVE, IDE, Enzo Agnes Achiel and BONAMI, Jacky Ronald CelinaAppointment: BREMHOVE (administrateur déléguée) · Permanent representative: Ide Joris · Statutes amendment9 facts ▸
- General meeting, 16-12-2023
- Statutes amendment
- Capital, €2.062.000
- Director reappointment, BREMHOVE (director)
- Director reappointment, IDE, Enzo Agnes Achiel (director)
- Director reappointment, BONAMI, Jacky Ronald Celina (director)
- Director appointment, BREMHOVE (administrateur déléguée)
- Permanent representative, Ide Joris
- Single shareholder declaration, toutes les actions sont dans les mains d'une unique personne morale
19-07
State Gazette act
Reappointment: Bremhove nv (director)Permanent representative: Joris Ide · Appointment: Bremhove nv (managing director) · Mandate compensation11 facts ▸
- General meeting, 12-05-2023
- Board meeting, 12-05-2023
- Director reappointment, Bremhove nv (director)
- Permanent representative, Joris Ide
- Mandate compensation, Bremhove nv
- Director appointment, Bremhove nv (managing director)
- Power of attorney, Wouter Adriansens
- Power of attorney, Kantoor Pieters-Dick & C° BV
- Power of attorney, Wouter Adriansens
- Power of attorney, Kantoor Pieters-Dick & C° BV
- Mandate end, 18-11-2023
08-09
State Gazette act
Appointments: Jacky Bonami (director) and Enzo Ide (director)Resignations: Jacky Bonami (director) and Enzo Ide (director) · Mandate compensation · Power of attorney9 facts ▸
- General meeting, 13-05-2022
- Director appointment, Jacky Bonami (director)
- Director appointment, Enzo Ide (director)
- Mandate compensation, Jacky Bonami
- Mandate compensation, Enzo Ide
- Power of attorney, Wouter Adriansens
- Power of attorney, Kantoor Pieters-Dick & C° BV
- Director resignation, Jacky Bonami
- Director resignation, Enzo Ide
05-05
State Gazette act
Registered officeRegistered-office move · Power of attorney4 facts ▸
- Board meeting, 23-03-2020
- Registered-office move, Rue Georges Stephenson 25, 7180 Seneffe
- Power of attorney, Kantoor Pieters-Dick & CO BV
- Power of attorney, Kathleen De Kuysscher
10-01
State Gazette act
Resignation: NV Bremhove (director)Reappointment: NV Bremhove (director) · Appointment: NV Bremhove (administrateur délégué, chargée de la gestion journalière) · Permanent representative: Joris Ide10 facts ▸
- General meeting, 18-11-2019
- Director resignation, NV Bremhove (director)
- Director reappointment, NV Bremhove (director)
- Mandate compensation, NV Bremhove
- Board meeting, 18-11-2019
- Director resignation, NV Bremhove (managing director)
- Director appointment, NV Bremhove (administrateur délégué, chargée de la gestion journalière)
- Permanent representative, Joris Ide
- Power of attorney, Kantoor Pieters-Dick & C° BVBA
- Power of attorney, Kathleen De Kuysscher
30-07
State Gazette act
Resignation: Johan Claeys (director)Director discharge2 facts ▸
- Director resignation, Johan Claeys (director)
- Director discharge, Johan Claeys (director)
11-02
State Gazette act
Resignations: B.S.I. Belgium, Jacky Bonami and 2 othersAppointments: Enzo Ide, Jacky Bonami and 2 others · Permanent representative: Joris Ide · Mandate compensation17 facts ▸
- General meeting, 20-12-2018
- Director resignation, B.S.I. Belgium (director)
- Director resignation, Jacky Bonami (director)
- Director resignation, Enzo Ide (director)
- Director resignation, Johan Claeys (director)
- Director appointment, Enzo Ide (director)
- Director appointment, Jacky Bonami (director)
- Director appointment, Johan Claeys (director)
- Director appointment, Bremhove (director)
- Permanent representative, Joris Ide
- Mandate compensation, HERMELOCK PETIT RECHAIN
- Board meeting, 20-12-2018
- +5 further facts in this act
02-07
State Gazette act
Purpose · Statutes amendmentPurpose change · Capital4 facts ▸
- General meeting, 12-06-2018
- Purpose change, L'objet social de la société est d'accomplir, tant en Belgique qu'à l'étranger, les activités suivantes, énumérées de manière indicative et non limitative: -tou…
- Statutes amendment
- Capital, €2.062.000
24-07
State Gazette act
Appointments: Enzo Ide (director) and Jacky Bonami (director)Power of attorney5 facts ▸
- General meeting, 29-06-2017
- Director appointment, Enzo Ide (director)
- Director appointment, Jacky Bonami (director)
- Power of attorney, Kantoor Pieters-Dick & C° BVBA
- Power of attorney, Kathleen De Kuysscher
20-02
State Gazette act
Appointments: BSI BELGIUM SA (director) and Johan Claeys (director)Permanent representative: Joris Ide · Mandate compensation7 facts ▸
- General meeting, 24-10-2014
- Director appointment, BSI BELGIUM SA (director)
- Director appointment, Johan Claeys (director)
- Mandate compensation, Johan Claeys
- Board meeting, 24-10-2014
- Director appointment, BSI BELGIUM SA (managing director)
- Permanent representative, Joris Ide
Directors · office · real estate
Board 7
Day-to-day management 2
Permanent representatives 1
Statutory auditor 1
1 establishment unit
1 parcel
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 52063F0183/00F000 | Wallonia | 2.0 ha | 1 · 1.0 ha | - |
Linked by address, not proof of ownership
Mandate history
- Board
- Day-to-day management
- Statutory auditor
- began earlier
| Name | Functions and periods |
|---|---|
| Enzo Ide |
|
| Jacky Bonami |
|
| BREMHOVE |
|
| NV BREMHOVE |
|
| BONAMI, Jacky Ronald Celina |
|
| IDE, Enzo Agnes Achiel |
|
| Christiaan DEPOORTER |
|
| DPO BEDRIJFSREVISOREN |
|
| Claeys Johan |
|
| B.S.I. BELGIUM |
|
Articles of association
Full purpose
Toutes opérations immobilières et notamment la vente, l'achat, l'échange, la construction, la reconstruction, la démolition, la transformation et la location de tous immeubles et matériels ; l'achat, la vente, l'échange, la mise en valeur, le lotissement, l'exploitation, la location et l'affermage de tous terrains ; la gestion d'un patrimoine immobilier dans le sens le plus large ; toutes les opérations de vente et de location, sous toutes ses formes; l'établissement d'un commerce de gros en produits faits de matières synthétiques; la création d'un bureau de liaison; sur base des brevets qui sont la propriété de la Société ou dont la Société a l'usufruit, la société peut, au sens large, conclure des contrats de licence et/ou des contrats de collaboration avec d'autres sociétés, tant en Belgique qu' l'étranger, et recevoir des royalties de ces sociétés; la prise de participation directe ou indirecte dans toutes sociétés ou entreprises commerciales, industrielles, financières, mobilières et immobilières; l'achat, l'administration, la vente de toutes valeurs mobilières et immobilières, de tous droits sociaux et d'une manière générale toutes opérations de gestion du portefeuille ainsi constitué.
Structure & network
Owners and holdings
1 ownerChain of control
- B.S.I.
- BSI Pipe Systems
Highest known parent: B.S.I.. The sources do not say who stands above it.
Owners 1
- B.S.I.parent100%
Holdings 0
The accounts to 31-12-2025 list no holdings, and no other source names one.
According to the 2025 annual accounts of BSI Pipe Systems and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
4 connected companiesAcquisitions and mergers
3 transactionsCapital and shareholders
- 29-12-2025 Capital increase of 4,034,301.91 EUR · to 6,096,301.91 EUR · 5,233 new shares
- 24-07-2025 Capital increase of 254,346.70 EUR · to 2,316,346.70 EUR · 329 new shares
- 14-05-2024 Capital stated in the act · 883,198.03 EUR · 9,576,293 shares
- 28-12-2023 Capital stated in 2 acts · 2,062,000 EUR · 2,062 shares
Similar companies · same sector, comparable size
Identification & contact
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.