ETS PIRE
ActiveSummary
The computed 12-month bankruptcy probability of ETS PIRE is 5.7% (elevated). The 2025 annual accounts show equity of €50,533 and a net result of €45,407. Equity is growing by ~49.5% per year across the filed fiscal years. Its solvency ranks better than 40% of 7598 sector peers (fiscal year 2025). The company has been active since 2022 and the Belgian State Gazette contains no insolvency signals. The CBE does carry 1 administrative register entry (see administrative flags).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+98
Solvency60▲+21
Growth78▲+46
Track record86
Bankruptcy probability, 12 months
5.7%
Elevated
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,500 at 30 days only on tighter terms
Liquidity tight (current ratio 1.13 against 0.75 in 2024; short-term debt: 39.9% and cash: 6.3% of total assets), and 65.4% of the assets are financed with debt.
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Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 41
Relative position
BE, all sectors
reference
Construction of residential and non-residential buildings (NACE 41)
about 67% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
34.6%
Return on assets
31.1%
Age of the figures
9 mo
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 · 3 filingsDeviation from the deadline
2025
3 d early
2024
22 d early
2023
343 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 3 accounts on average 106 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
raises risk · Administrative warnings in the KBO publications
1 publication by the FPS Economy about this company, such as a strike-off for address, accounts or UBO, or its withdrawal.
KBO publicationsPublications
Address struck
Checked, nothing found (1)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 28 July (3 of the last 3 filed years within 347 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€50,533▲ 399%
2024 · €10,126
Total assets
€146,101▲ 106%
2024 · €70,752
Net result
€45,407
2024 · -€15,271
Working capital
€7,349
2024 · -€14,937
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line202320242025
Operating result€19,909--€13,875€52,395
Net result€15,397within the sector's middle half--€15,271below the sector's middle half€45,407above the sector's middle half
Equity€25,397within the sector's middle half-€10,126below the sector's middle half▼ 60.1%€50,533within the sector's middle half▲ 399%
Total assets€131,179within the sector's middle half-€70,752within the sector's middle half▼ 46.1%€146,101within the sector's middle half▲ 106%
Debt€105,782-€60,626▼ 42.7%€95,568▲ 57.6%
Working capital-€13,007below the sector's middle half--€14,937below the sector's middle half▼ 14.8%€7,349within the sector's middle half
Solvency19.4%within the sector's middle half-14.3%below the sector's middle half▼ 5.0pp34.6%within the sector's middle half▲ 20.3pp
Current ratio0.87below the sector's middle half-0.75below the sector's middle half▼ 0.131.13within the sector's middle half▲ 0.38
Return on assets (ROA)11.7%within the sector's middle half--21.6%below the sector's middle half▼ 33.3pp31.1%above the sector's middle half▲ 52.7pp
Staff (FTE)2-1▼ 50.0%
above
within
below
the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €52,395 after a loss of €13,875 in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €146,101
Fixed assets
€80,388 ▲ 201%
Current assets
€65,713 ▲ 49.3%
Equity and liabilities €146,101
Equity
€50,533 ▲ 399%
Debt
€95,568 ▲ 57.6%
Debt's share of the balance-sheet total falls from 85.7% to 65.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€73,394▲
2024 · €470
Cash flow
€66,406▲
2024 · -€926
Quick ratio
0.95▲
2024 · 0.53
Debt to equity
1.89▼
2024 · 5.99
ROE
89.9%▲
2024 · -150.8%
Interest coverage
74.90▲
2024 · 0.25
Debt ≤ 1 year
€58,364▼
2024 · €58,957
Debt > 1 year
€34,285
Income taxes
€6,013
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 39,278 companies that looked in July 2024 the way this one looks now, 1.8% went bankrupt within 24 months and 96% are still going.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.8%
went bankrupt
2.3%
stopped otherwise
96%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 5.7% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 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% | 1.9% |
| 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 39,278 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.
Annual accounts
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Remuneration, social security and pensions62 | €109,229 | €792 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €17,796 | €14,345 | €20,999 | ▲ 46.4% |
| Other operating charges640/8 | €1,242 | €3,761 | €1,300 | ▼ 65.4% |
| Gross operating margin9900 | €148,176 | €5,023 | €74,694 | ▲ 1,387% |
| Operating profit (loss)9901 | €19,909 | -€13,875 | €52,395 | ▲ 478% |
| Financial income75/76B | €55 | €484 | €5 | ▼ 99.1% |
| Recurring financial income75 | €55 | €484 | €5 | ▼ 99.1% |
| Financial charges65/66B | €742 | €1,880 | €980 | ▼ 47.9% |
| Recurring financial charges65 | €742 | €1,880 | €980 | ▼ 47.9% |
| Profit (loss) for the period before taxes9903 | €19,222 | -€15,271 | €51,420 | ▲ 437% |
| Income taxes67/77 | €3,825 | - | €6,013 | - |
| Profit (loss) for the period9904 | €15,397 | -€15,271 | €45,407 | ▲ 397% |
| Profit (loss) for the period to be appropriated9905 | €15,397 | -€15,271 | €45,407 | ▲ 397% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €131,179 | €70,752 | €146,101 | ▲ 106% |
| Fixed assets21/28 | €41,077 | €26,732 | €80,388 | ▲ 201% |
| Tangible fixed assets22/27 | €41,077 | €26,732 | €80,178 | ▲ 200% |
| Plant, machinery and equipment23 | €7,253 | €5,032 | €19,240 | ▲ 282% |
| Furniture and vehicles24 | €33,824 | €21,700 | €60,938 | ▲ 181% |
| Financial fixed assets28 | - | - | €210 | - |
| Current assets29/58 | €90,102 | €44,020 | €65,713 | ▲ 49.3% |
| Stocks and contracts in progress3 | €3,215 | €12,628 | €10,025 | ▼ 20.6% |
| Stocks30/36 | €3,215 | €1,530 | €2,946 | ▲ 92.6% |
| Contracts in progress37 | - | €11,098 | €7,078 | ▼ 36.2% |
| Amounts receivable within one year40/41 | €62,287 | €26,441 | €45,909 | ▲ 73.6% |
| Trade receivables40 | €18,749 | €8,342 | €9,265 | ▲ 11.1% |
| Other amounts receivable41 | €43,538 | €18,099 | €36,644 | ▲ 102% |
| Cash at bank and in hand54/58 | €11,950 | €4,430 | €9,137 | ▲ 106% |
| Deferred charges and accrued income490/1 | €12,650 | €521 | €643 | ▲ 23.4% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €131,179 | €70,752 | €146,101 | ▲ 106% |
| Equity10/15 | €25,397 | €10,126 | €50,533 | ▲ 399% |
| Contributions10/11 | €10,000 | €10,000 | €10,000 | = |
| Reserves13 | €15,397 | €126 | €40,533 | ▲ 32,069% |
| Distributable reserves133 | €15,397 | €126 | €40,533 | ▲ 32,069% |
| Amounts payable17/49 | €105,782 | €60,626 | €95,568 | ▲ 57.6% |
| Amounts payable after more than one year17 | - | - | €34,285 | - |
| Financial debts170/4 | - | - | €34,285 | - |
| Amounts payable within one year42/48 | €103,109 | €58,957 | €58,364 | ▼ 1.0% |
| Current portion of amounts payable after more than one year42 | - | - | €8,788 | - |
| Trade debts44 | €48,386 | €11,736 | €15,995 | ▲ 36.3% |
| Suppliers440/4 | €44,796 | €7,019 | €15,995 | ▲ 128% |
| Bills of exchange payable441 | €3,590 | €4,717 | - | - |
| Taxes, remuneration and social security45 | €22,293 | €18,199 | €6,096 | ▼ 66.5% |
| Taxes450/3 | €15,422 | €15,149 | €6,096 | ▼ 59.8% |
| Remuneration and social security454/9 | €6,871 | €3,050 | - | - |
| Other amounts payable47/48 | €32,430 | €29,022 | €27,485 | ▼ 5.3% |
| Accrued charges and deferred income492/3 | €2,673 | €1,669 | €2,919 | ▲ 74.9% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €15,397 | -€15,271 | €45,407 | ▲ 397% |
| + Depreciation and write-downs630 | €17,796 | €14,345 | €20,999 | ▲ 46.4% |
| Operating cash flow (approximation) | €33,193 | -€926 | €66,406 | ▲ 7,271% |
| Investment in fixed assets (approximation) | - | €0 | -€74,654 | - |
| Change in cash | - | -€7,520 | €4,707 | ▲ 163% |
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
Next filing, fiscal year 2026, expected by
2026
07-09
KBO administration
Address struck
event 14-07-2026
28-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Back to profitnet €45,407
Net result €45,407 after one loss-making year.
09-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
09-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 343 days late
2024
31-12
Financial
Weakest financial yearnet -€15,271
Net result drops to -€15,271, the lowest in the series; recovery starts the following year.
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, La Louvière · 1 establishment unit since 2022
Ground area
1,363 m²
Building footprint
117 m²
Volume, LiDAR
1,355 m³
Parcel 55042A0372/00V004, Wallonia · tallest building 13.2 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
Ets Pire
since 20222.336.330.023
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 55042A0372/00V004 | Wallonia | 1,363 m² | 1 · 117 m² | 13.2 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 29,786 companies in sector 41001 we hold annual accounts for 16,058. 13,086 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded30-09-2022
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
43910Bricklaying and masonry work
43230Insulation installation
43240Other construction installation
43990Other specialised construction activities
81300Landscape service activities
Contact
E-mail
etspire@gmail.com
Phone
+32492655777
E-invoicing
Reachable via Peppol
Peppol ID
0208:0791640061
Also
9925:BE0791640061
Registered
04-01-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.