PIABO is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €91k and a net result of €151k. Equity remains stable across the filed fiscal years (±0.9% per year). Its solvency ranks better than 23% of 5507 sector peers (fiscal year 2025). The company has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The health score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
Credit advice for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 23% of 5507 sector peers (2025).
NBB · sector comparisonPosition among 5507 sector peers
Solvency
better than 23%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 11-08-2026, 11 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
11 d late
2024
29 d late
2023
51 d late
2022
2 d early
2021
3 d late
2020
1 d early
2019
2 d early
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
19-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€91k▲ 1.0%
2024 · €90k
2018: €40k
2019: €111k
2020: €125k
2021: €136k
2022: €200k
2023: €96k
2024: €90k
2018 → 2025
Net result
€151k▲ 41.9%
2024 · €106k
2018: €-858k
2019: €71k
2020: €15k
2021: €11k
2022: €64k
2023: €87k
2024: €106k
2018 → 2025
Total assets
€411k▲ 14.4%
2024 · €360k
2018: €501k
2019: €391k
2020: €610k
2021: €578k
2022: €559k
2023: €411k
2024: €360k
2018 → 2025
Solvency
22.0%▼ 2.9pp
2024 · 25.0%
2018: 8.0%
2019: 28.3%
2020: 20.5%
2021: 23.5%
2022: 35.8%
2023: 23.3%
2024: 25.0%
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€136k-€200k▲ 47.2%€96k▼ 52.1%€90k▼ 6.4%€91k▲ 1.0%
Operating result€20k-€76k▲ 274%€135k▲ 78.1%€158k▲ 17.2%€204k▲ 29.5%
Net result€11k-€64k▲ 505%€87k▲ 35.4%€106k▲ 22.5%€151k▲ 41.9%
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2025 is 29% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €411k
Fixed assets
€84k▼ 62.8%
Current assets
€327k▲ 145%
Equity and liabilities €411k
Equity
€91k▲ 1.0%
Debt
€321k▲ 18.9%
The debt ratio rises from 75.0% to 78.0%. Equity and debt are higher.
Key figures and ratios
Solvency
22.0%▼
2024 · 25.0%
ROE
166.5%▲
2024 · 118.5%
ROA
36.7%▲
2024 · 29.6%
Debt
€321k▲
2024 · €270k
Debt ≤ 1 year
€121k▲
2024 · €119k
Debt > 1 year
€199k▲
2024 · €151k
Income taxes
€54k▲
2024 · €39k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€360k€411k▲
Fixed assets21/28€226k€84k▼
Tangible fixed assets22/27€226k€84k▼
Plant, machinery and equipment23€216k€1k▼
Furniture and vehicles24€9k€82k▲
Current assets29/58€134k€327k▲
Amounts receivable within one year40/41€98k€191k▲
Trade receivables40€76k€60k▼
Other amounts receivable41€22k€131k▲
Cash at bank and in hand54/58€34k€134k▲
Deferred charges and accrued income490/1€2k€2k▲
Equity and liabilities
Total equity and liabilities10/49€360k€411k▲
Equity10/15€90k€91k▲
Contributions10/11€250k€100k▼
Reserves13€118k€118k=
Tax-exempt reserves132€7k€7k=
Distributable reserves133€111k€111k=
Profit (loss) carried forward14€-278k€-127k▲
Amounts payable17/49€270k€321k▲
Amounts payable after more than one year17€151k€199k▲
Financial debts170/4€38k€68k▲
Other amounts payable178/9€113k€131k▲
Amounts payable within one year42/48€119k€121k▲
Current portion of amounts payable after more than one year42€88k€82k▼
Trade debts44€1k€6k▲
Suppliers440/4€1k€6k▲
Taxes, remuneration and social security45€26k€24k▼
Taxes450/3€26k€24k▼
Other amounts payable47/48€4k€10k▲
Accrued charges and deferred income492/3€0-
Income statement
Code20242025
Remuneration, social security and pensions62€0-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€106k€14k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€0-
Other operating charges640/8€999€2k▲
Gross operating margin9900€265k€220k▼
Operating profit (loss)9901€158k€204k▲
Financial income75/76B€2k€7k▲
Recurring financial income75€2k€7k▲
Financial charges65/66B€15k€6k▼
Recurring financial charges65€15k€6k▼
Profit (loss) for the period before taxes9903€145k€205k▲
Income taxes67/77€39k€54k▲
Profit (loss) for the period9904€106k€151k▲
Profit (loss) for the period to be appropriated9905€106k€151k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-278k€-127k▲
Profit (loss) brought forward from the previous period14P€-385k€-278k▲
Transfer to equity691/2€0-
To other reserves6921€0-
The notes to these accounts (21 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
11-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 11 days late
2025
31-12
Financial
Highest result since 2018net €151k ▲41.9%
Operating result €204k, net result €151k, both a record.
31-12
Financial
Liquidity doublescurrent ratio 2.70
Current ratio from 1.12 to 2.70.
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 29 days late
2024
20-09
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 51 days late
2023
28-04
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
30-09
Financial
Equity above €200kEq €200k ▲47.2%
4 profitable years in a row build equity to €200k.
03-05
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 3 days late
2021
29-04
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
28-04
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
30-09
Financial
Back to profitnet €71k
Net result €71k after one loss-making year.
30-09
Financial
Equity above €100kEq €111k ▲175%
Equity rises from €40k to €111k.
29-04
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
30-04
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
28-04
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Brussel · 1 establishment unit since 2004
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Baksteenkaai 221000 BrusselGround area
1,345 m²
Building footprint
417 m²
Volume, LiDAR
5,877 m³
Parcel 21812N0427/00K000, Brussels · tallest building 17.6 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
PIABO
since 20042.134.752.442
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21812N0427/00K000 | Brussels | 1,345 m² | 1 · 417 m² | 17.6 m · 5 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
JOMANO SERVICES
BE 0438.362.992
Lede · Eq €91k
Westkade
BE 0673.691.427
Destelbergen · Eq €91k
MLN Construct
BE 0805.219.863
Tienen · Eq €91k
DBLS
BE 0747.737.762
Leuven · Eq €91k
ELIGO
BE 0825.285.403
Lommel · Eq €91k
Of 24,727 companies in sector 64210 we hold annual accounts for 19,759. 12,090 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded06-11-2003
Fiscal year end31-12
Activities, NACEBEL
64200Holdings
64210Activities of holding companies
74151
Sources
Crossroads Bank for EnterprisesNational Bank · 22 filingsAddress and cadastre registers
Data from official sources, last processed on 19-09-2026. Scores and ratios are computed by Checked and are not a credit decision.