Pi - Logistics
ActiveSummary
Pi - Logistics has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €30,309 and a net result of €157,249. Equity is growing by ~12.8% per year across the filed fiscal years. Its solvency ranks better than 17% of 1308 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability87▼-2
Solvency28▼-5
Growth78=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,500 at 30 days acceptable
Liquidity short (current ratio 0.97 against 1.07 in 2023; short-term debt: 89.9% and cash: 20.6% of total assets), and 97.1% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 52
Relative position
BE, all sectors
reference
Warehousing and support activities for transportation (NACE 52)
about 72% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 17% of 1308 sector peers (2024).
NBB · sector comparisonPosition among 1308 sector peers
Solvency
better than 17%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 23-10-2025, 84 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
84 d late
2023
61 d late
2022
26 d late
2021
8 d late
2020
117 d early
2019
15 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 8 days after the deadline; the sector median for financial year 2024 is 8 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€30,309▼ 58.5%
2023 · €73,059
Total assets
€1.1m▲ 18.2%
2023 · €895,443
Net result
€157,249▲ 8.3%
2023 · €145,215
Working capital
-€31,956
2023 · €59,501
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 52, Warehousing and support activities for transportation, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€1,767▼ 43.7%€1,575▼ 10.8%€131,615▲ 8,257%€198,504▲ 50.8%€217,670▲ 9.7%
Net result€1,278within the sector's middle half▼ 54.5%€1,140within the sector's middle half▼ 10.8%€103,615above the sector's middle half▲ 8,989%€145,215above the sector's middle half▲ 40.1%€157,249above the sector's middle half▲ 8.3%
Equity€19,089within the sector's middle half▲ 7.2%€20,229within the sector's middle half▲ 6.0%€87,844within the sector's middle half▲ 334%€73,059within the sector's middle half▼ 16.8%€30,309within the sector's middle half▼ 58.5%
Total assets€22,404below the sector's middle half▲ 2.1%€73,950within the sector's middle half▲ 230%€785,308above the sector's middle half▲ 962%€895,443above the sector's middle half▲ 14.0%€1.1mabove the sector's middle half▲ 18.2%
Debt€3,315▼ 20.0%€53,721▲ 1,521%€697,464▲ 1,198%€822,384▲ 17.9%€1.0m▲ 25.0%
Working capital€19,089within the sector's middle half▲ 7.2%-€21,874below the sector's middle half€74,032within the sector's middle half€59,501within the sector's middle half▼ 19.6%-€31,956below the sector's middle half
Solvency85.2%above the sector's middle half▲ 4.1pp27.4%within the sector's middle half▼ 57.8pp11.2%below the sector's middle half▼ 16.2pp8.2%below the sector's middle half▼ 3.0pp2.9%below the sector's middle half▼ 5.3pp
Current ratio6.76above the sector's middle half▲ 1.460.59below the sector's middle half▼ 6.171.11within the sector's middle half▲ 0.521.07within the sector's middle half▼ 0.040.97within the sector's middle half▼ 0.11
Return on assets (ROA)5.7%within the sector's middle half▼ 7.1pp1.5%within the sector's middle half▼ 4.2pp13.2%within the sector's middle half▲ 11.7pp16.2%within the sector's middle half▲ 3.0pp14.9%within the sector's middle half▼ 1.4pp
above
within
below
the middle half (P25 to P75) of NACE 52, Warehousing and support activities for transportation, 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
After the dip in 2021 the operating result has climbed three years in a row; 2024 is 10% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.1m
Fixed assets
€139,254 ▲ 453%
Current assets
€918,776 ▲ 5.6%
Equity and liabilities €1.1m
Equity
€30,309 ▼ 58.5%
Debt
€1.0m ▲ 25.0%
Debt's share of the balance-sheet total rises from 91.8% to 97.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€239,591▲
2023 · €207,095
Cash flow
€179,171▲
2023 · €153,806
Debt to equity
33.91▲
2023 · 11.26
ROE
518.8%▲
2023 · 198.8%
Interest coverage
100.11▲
2023 · 97.05
Debt ≤ 1 year
€950,732▲
2023 · €810,766
Debt > 1 year
€76,989▲
2023 · €10,455
Income taxes
€58,797▲
2023 · €51,155
Staff costs
€100,868▲
2023 · €96,030
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 536 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 96% are still going.
- Small
- 10 to 20 years old
- solvency under 10%
- a profit of 5% of the balance sheet or more
0.7%
went bankrupt
3.4%
stopped otherwise
96%
still going
For this company itself Checked computes a bankruptcy probability of 0.9% 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 536 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €7,408 | €85,797 | €96,030 | €100,868 | ▲ 5.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €950 | €9,526 | €8,591 | €21,922 | ▲ 155% |
| Other operating charges640/8 | - | €904 | €963 | €1,048 | €1,440 | ▲ 37.4% |
| Gross operating margin9900 | €2,223 | €10,837 | €227,901 | €304,173 | €341,899 | ▲ 12.4% |
| Operating profit (loss)9901 | €1,767 | €1,575 | €131,615 | €198,504 | €217,670 | ▲ 9.7% |
| Financial income75/76B | - | €90 | - | - | €770 | - |
| Recurring financial income75 | €28 | €90 | - | - | €770 | - |
| Financial charges65/66B | - | €60 | €1,388 | €2,134 | €2,393 | ▲ 12.1% |
| Recurring financial charges65 | €72 | €60 | €1,388 | €2,134 | €2,393 | ▲ 12.1% |
| Profit (loss) for the period before taxes9903 | €1,723 | €1,605 | €130,227 | €196,370 | €216,047 | ▲ 10.0% |
| Income taxes67/77 | €445 | €465 | €26,612 | €51,155 | €58,797 | ▲ 14.9% |
| Profit (loss) for the period9904 | €1,278 | €1,140 | €103,615 | €145,215 | €157,249 | ▲ 8.3% |
| Profit (loss) for the period to be appropriated9905 | €1,278 | €1,140 | €103,615 | €145,215 | €157,249 | ▲ 8.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €22,404 | €73,950 | €785,308 | €895,443 | €1.1m | ▲ 18.2% |
| Fixed assets21/28 | - | €42,103 | €33,767 | €25,176 | €139,254 | ▲ 453% |
| Tangible fixed assets22/27 | - | €42,103 | €33,767 | €25,176 | €139,254 | ▲ 453% |
| Furniture and vehicles24 | - | €42,103 | €33,767 | €25,176 | €139,254 | ▲ 453% |
| Current assets29/58 | €22,404 | €31,847 | €751,541 | €870,267 | €918,776 | ▲ 5.6% |
| Amounts receivable within one year40/41 | €9,966 | €12,143 | €665,369 | €585,697 | €696,035 | ▲ 18.8% |
| Trade receivables40 | - | €12,130 | €645,294 | €410,757 | €614,696 | ▲ 49.6% |
| Other amounts receivable41 | - | €13 | €20,075 | €174,940 | €81,339 | ▼ 53.5% |
| Cash at bank and in hand54/58 | €12,439 | €19,275 | €86,172 | €284,570 | €217,643 | ▼ 23.5% |
| Deferred charges and accrued income490/1 | - | €429 | - | - | €5,099 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €22,404 | €73,950 | €785,308 | €895,443 | €1.1m | ▲ 18.2% |
| Equity10/15 | €19,089 | €20,229 | €87,844 | €73,059 | €30,309 | ▼ 58.5% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Profit (loss) carried forward14 | €489 | €1,629 | €69,244 | €54,459 | €11,709 | ▼ 78.5% |
| Amounts payable17/49 | €3,315 | €53,721 | €697,464 | €822,384 | €1.0m | ▲ 25.0% |
| Amounts payable after more than one year17 | - | - | €19,955 | €10,455 | €76,989 | ▲ 636% |
| Financial debts170/4 | - | - | €19,955 | €10,455 | €76,989 | ▲ 636% |
| Amounts payable within one year42/48 | €3,315 | €53,721 | €677,509 | €810,766 | €950,732 | ▲ 17.3% |
| Current portion of amounts payable after more than one year42 | - | - | €9,356 | €9,500 | €27,967 | ▲ 194% |
| Trade debts44 | €357 | €45,828 | €591,689 | €569,816 | €674,496 | ▲ 18.4% |
| Suppliers440/4 | - | €45,828 | €591,689 | €569,816 | €674,496 | ▲ 18.4% |
| Taxes, remuneration and social security45 | - | €7,893 | €40,464 | €76,510 | €41,544 | ▼ 45.7% |
| Taxes450/3 | - | €1,966 | €26,612 | €63,934 | €28,830 | ▼ 54.9% |
| Remuneration and social security454/9 | - | €5,927 | €13,852 | €12,576 | €12,714 | ▲ 1.1% |
| Other amounts payable47/48 | - | - | €36,000 | €154,940 | €206,725 | ▲ 33.4% |
| Accrued charges and deferred income492/3 | - | - | - | €1,163 | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1,278 | €1,140 | €103,615 | €145,215 | €157,249 | ▲ 8.3% |
| + Depreciation and write-downs630 | - | €950 | €9,526 | €8,591 | €21,922 | ▲ 155% |
| Operating cash flow (approximation) | €1,278 | €2,090 | €113,141 | €153,806 | €179,171 | ▲ 16.5% |
| Investment in fixed assets (approximation) | - | - | -€1,190 | €0 | -€136,000 | - |
| Change in cash | - | €6,836 | €66,897 | €198,398 | -€66,927 | ▼ 134% |
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
2025
23-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 84 days late
2024
31-12
Financial
Highest result since 2018net €157,249 ▲8.3%
Operating result €217,670, net result €157,249, both a record.
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 61 days late
2023
26-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 26 days late
2022
08-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 8 days late
2021
31-12
Financial
Weakest financial yearnet €1,140 ▼10.8%
Net result drops to €1,140, the lowest in the series; recovery starts the following year.
05-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
16-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
22-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
25-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
03-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
16-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 16 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
6 acts for this company are 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, Deinze · 1 establishment unit since 2010
Ground area
1,387 m²
Building footprint
1,387 m²
Volume, LiDAR
9,352 m³
Parcel 44011A0237/00A002, Flanders · tallest building 9.0 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Pi - Logistics
since 20102.189.168.056
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44011A0237/00A002 | Flanders | 1,386 m² | 1 · 1,387 m² | 9.0 m · 2 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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteDeinze2.189.168.056
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Of 3,187 companies in sector 52250 we hold annual accounts for 1,963. 1,006 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
Founded11-05-2010
Fiscal year end31-12
Activities, NACEBEL 2025
52250Logistics services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0825844043
Registered
27-03-2026
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.