Debts
€29,800 93% of the balance sheet
Suppliers 77%Taxes and wages 11%Other 12%
Pi-security
Lifetime
3 annual accounts with figures on one time axispeak €8,081 (2024)
€4,695▼ 41.9%
lowest -€4,731 (2023)
-€673▼ €3,334
peak €2,930 (2024)
€2,257▼ 23.0%
€29,800▲ 40.2%
Board1 name since 2022
1 directorHELEVEN, Niels
Documentsfilings and deeds
30-07-20261 day before the deadline
2025micro format
Gross margin from €8,081 to €4,695Loss of €673Equity from €2,930 to €2,257Debts from €21,249 to €29,800Cash from €2,736 to €823
Key points
from the 2025 annual accountsFilings
3 annual accounts 2 late
The 2024 accounts came latest: 77 days after the end of the period.
Position in the sector
€2,257
Less equity than 90% of companies in specialised construction. Sector median €57,703 · 35,137 companies.
Checked score
49
Fair
Financially stronger than 12% of micro companies in specialised construction (NACE 43)
Probability in this band: 1.5% to 4.2%
Bankruptcy probability within 12 months
2.9% Moderate
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.7% across 47,693 companies (NACE 43, micro).
About 3 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 3.5%
01-2025: 3.5%● unchanged vs 12-2024
02-2025: 3.5%● unchanged vs 01-2025
03-2025: 3.5%● unchanged vs 02-2025
04-2025: 3.6%▲ +0.1 percentage points vs 03-2025
05-2025: 3.6%● unchanged vs 04-2025
06-2025: 3.6%● unchanged vs 05-2025
07-2025: 3.7%▲ +0.1 percentage points vs 06-2025
08-2025: 4.1%▲ +0.4 percentage points vs 07-2025
09-2025: 4.3%▲ +0.2 percentage points vs 08-2025
10-2025: 5.5%▲ +1.2 percentage points vs 09-2025highest value
11-2025: 3.8%▼ -1.7 percentage points vs 10-2025
12-2025: 3.8%● unchanged vs 11-2025
01-2026: 3.7%▼ -0.1 percentage points vs 12-2025
02-2026: 3.7%● unchanged vs 01-2026
03-2026: 3.8%▲ +0.1 percentage points vs 02-2026
04-2026: 3.9%▲ +0.1 percentage points vs 03-2026
05-2026: 3.9%● unchanged vs 04-2026
06-2026: 3.9%● unchanged vs 05-2026
07-2026: 4.0%▲ +0.1 percentage points vs 06-2026
08-2026: 3.3%▼ -0.7 percentage points vs 07-2026
09-2026: 2.9%▼ -0.4 percentage points vs 08-2026
10-2026: 2.9%● unchanged vs 09-2026lowest value
11-2026: 2.9%● unchanged vs 10-2026lowest value
Financial strengthWeak
Score breakdown
raises risk
Founded in 2022
2 of the last 3 accounts late
Sector: Specialised construction activities (NACE 43)
lowers risk
Size: total assets €32,057
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 43, micro). It does better than 12% of them on solvency, 3% on liquidity, 17% on profitability and 17% on growth.
The bankruptcy probability was computed on 09-11-2026 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 moderate class on 30-06-2025, 2.4% 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, 1,301 companies had the same profile as Pi-security has now. Each dot stands for 4 companies, two years later.
92.6%
were still trading
1.6%
stopped another way
5.5%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Pi-security itself: 2.9% 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 1,301 companies, not a prediction for Pi-security. 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.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 12% of 35125 sector peers (2025).
NBB · sector comparisonPosition among 35125 sector peers
Solvency
better than 12%
← weakest
strongest →
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 30-07-2026, 1 day ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2025
1 day early
2024
77 days late
2023
47 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 3 accounts on average 41 days after the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% 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 17 September (3 of the last 3 accounts filed within 49 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0795191053
Security firm approval (alarm systems) granted
Decision of 13-06-2023, published on 31-10-2023
Security firm approval (camera systems) granted
Decision of 26-05-2023, published on 18-06-2024
Incorporation
Founding capital of €5,000, 500 shares · Founder: HELEVEN, Niels · Appointment: HELEVEN, Niels (director) · published on 23-12-2022 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| Pi-security Genk | €32,057 | €4,695 | 7.0% | - |
| FUTURE N-TECH Pelt | €30,102 | €5,842 | 36.5% | - |
| S.E. TECHNICS Seneffe | €37,826 | €4,249 | 60.8% | - |
| MY CONSO ELEC Wezembeek-Oppem | €37,440 | €5,375 | 46.8% | - |
| YPSILON GROUP Genk | €43,315 | €5,769 | 40.9% | - |
| BLR Tech Beringen | €28,525 | €3,361 | -16.9% | - |
| EKN Heusden-Zolder | €28,904 | €3,295 | 22.1% | - |
These companies have the same main activity as Pi-security: general electrical installation work (NACE 43211). They are comparable in size and age: total assets between €28,500 and €43,300, founded between 2021 and 2023.
Official details
Source: KBO- Status
- Active since 21-12-2022Normal situation
- Activity
- General electrical installation workNACE 43211and 5 others
- Establishment unit
- 2.341.722.3323600 Genk, since 21-12-2022
- Financial year end
- 31 December
- Peppol
- Reachable since 12-01-2026
Annual accounts 2025
- ≈ €39,000estimated
- €32,057▲ 32.6%
- Filing
- Filed on 30-07-2026, 1 day before the end of the filing period
Insights on Pi-security
Pi-security files the micro format. That format states no turnover. The gross margin rose from -€1,835 in 2023 to €4,695 in 2025.
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-security
- What is the company number of Pi-security?
- The company number of Pi-security is 0795.191.053. The VAT number is the same number with BE in front: BE 0795.191.053.
- Where is Pi-security based?
- The registered office is at Meeënheide 121, 3600 Genk.Company details
- What does Pi-security do?
- According to the KBO register, the main activity is general electrical installation work (NACE 43211).
- What is the legal form of Pi-security?
- Pi-security is a private limited company (BV).
- When was Pi-security founded?
- Pi-security was founded on 21-12-2022.
- Is Pi-security still active?
- Yes, Pi-security is an active enterprise in the KBO register.
- What is the turnover of Pi-security?
- The turnover in financial year 2025 is ≈ €39,000. This figure is estimated from the gross margin of €4,695 and 97 comparable companies (NACE 43211). It probably lies between €25,000 and €81,000. It is a rough estimate.Financials
- Is Pi-security profitable?
- In financial year 2025, Pi-security made a loss of €673.
- Where can I find the annual accounts of Pi-security?
- Pi-security filed 3 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of Pi-security due?
- Pi-security must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can trust this company with building work.Contractor check Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Check which of your other customers you can e-invoice via Peppol.Peppol check Compare this company with its sector.Sector benchmark
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