PICAF
ActiveSummary
For the legal form of PICAF, Checked does not compute a bankruptcy probability. The 2025 annual accounts show equity of €9,611 and a net result of -€865. Equity is shrinking by ~10.2% per year across the filed fiscal years. The company has been active since 1997 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability65▲+3
Solvency60=
Growth49=
Track record100
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 30-01-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
25 d late
2023
14 d late
2022
22 d late
2021
3 d early
2020
6 d early
2019
17 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 5 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close28-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Turnover
€2,400=
2024 · €2,400
EBIT margin
-36.0%▲ 28.4pp
2024 · -64.4%
Net result
-€865▲ 44.0%
2024 · -€1,546
Working capital
Not included in this filing
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€2,400=€2,495▲ 4.0%€2,400▼ 3.8%€2,400=€2,400=
Operating result-€352▲ 73.3%-€977▼ 178%-€2,455▼ 151%-€1,546▲ 37.0%-€865▲ 44.0%
Net result-€586▲ 68.9%-€1,061▼ 81.1%-€2,453▼ 131%-€1,546▲ 37.0%-€865▲ 44.0%
EBIT margin-14.7%▲ 40.3pp-39.2%▼ 24.5pp-102.3%▼ 63.1pp-64.4%▲ 37.9pp-36.0%▲ 28.4pp
Equity€15,536▼ 3.6%€14,475▼ 6.8%€12,022▼ 16.9%€10,476▼ 12.9%€9,611▼ 8.3%
Total assets€38,200▼ 6.7%€35,449▼ 7.2%€32,697▼ 7.8%€29,946▼ 8.4%€27,194▼ 9.2%
Debt€22,664▼ 8.7%€20,974▼ 7.5%€20,675▼ 1.4%€19,470▼ 5.8%€17,583▼ 9.7%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €865 in 2025 against €1,546 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €27,194
Equity
€9,611 ▼ 8.3%
Debt
€17,583 ▼ 9.7%
Debt's share of the balance-sheet total falls from 65.0% to 64.7%. Equity and debt are lower.
Key figures and ratios
EBITDA
€1,887▲
2024 · €1,205
Cash flow
€1,887▲
2024 · €1,205
Debt to equity
1.83▼
2024 · 1.86
ROE
-9.0%▲
2024 · -14.8%
ROA
-3.2%▲
2024 · -5.2%
Debt ≤ 1 year
€17,583▼
2024 · €19,470
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €2,400 | €2,495 | €2,400 | €2,400 | €2,400 | = |
| Goods, raw materials, services and sundry goods60/61 | - | €76 | €737 | €86 | €88 | ▲ 2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,752 | €2,751 | €2,752 | €2,751 | €2,752 | = |
| Other operating charges640/8 | - | €645 | €1,366 | €1,109 | €425 | ▼ 61.7% |
| Gross operating margin9900 | €2,400 | €2,419 | €1,663 | €2,314 | €2,312 | ▼ 0.1% |
| Operating profit (loss)9901 | -€352 | -€977 | -€2,455 | -€1,546 | -€865 | ▲ 44.0% |
| Financial income75/76B | - | - | €2 | - | - | - |
| Recurring financial income75 | - | - | €2 | - | - | - |
| Financial charges65/66B | - | €84 | €0 | - | - | - |
| Recurring financial charges65 | €234 | €84 | €0 | - | - | - |
| Profit (loss) for the period before taxes9903 | -€586 | -€1,061 | -€2,453 | -€1,546 | -€865 | ▲ 44.0% |
| Profit (loss) for the period9904 | -€586 | -€1,061 | -€2,453 | -€1,546 | -€865 | ▲ 44.0% |
| Profit (loss) for the period to be appropriated9905 | -€586 | -€1,061 | -€2,453 | -€1,546 | -€865 | ▲ 44.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €38,200 | €35,449 | €32,697 | €29,946 | €27,194 | ▼ 9.2% |
| Fixed assets21/28 | €38,200 | €35,449 | €32,697 | €29,946 | €27,194 | ▼ 9.2% |
| Tangible fixed assets22/27 | €38,076 | €35,325 | €32,573 | €29,822 | €27,070 | ▼ 9.2% |
| Land and buildings22 | - | €35,325 | €32,573 | €29,822 | €27,070 | ▼ 9.2% |
| Financial fixed assets28 | €124 | €124 | €124 | €124 | €124 | = |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €38,200 | €35,449 | €32,697 | €29,946 | €27,194 | ▼ 9.2% |
| Equity10/15 | €15,536 | €14,475 | €12,022 | €10,476 | €9,611 | ▼ 8.3% |
| Contributions10/11 | €105,355 | €105,355 | €105,355 | €105,355 | €105,355 | = |
| Profit (loss) carried forward14 | -€89,819 | -€90,880 | -€93,333 | -€94,879 | -€95,744 | ▼ 0.9% |
| Amounts payable17/49 | €22,664 | €20,974 | €20,675 | €19,470 | €17,583 | ▼ 9.7% |
| Amounts payable within one year42/48 | €22,664 | €20,974 | €20,675 | €19,470 | €17,583 | ▼ 9.7% |
| Financial debts43 | - | €2 | - | - | - | - |
| Credit institutions430/8 | - | €2 | - | - | - | - |
| Other amounts payable47/48 | - | €20,972 | €20,675 | €19,470 | €17,583 | ▼ 9.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€586 | -€1,061 | -€2,453 | -€1,546 | -€865 | ▲ 44.0% |
| + Depreciation and write-downs630 | €2,752 | €2,751 | €2,752 | €2,751 | €2,752 | = |
| Operating cash flow (approximation) | €2,166 | €1,690 | €299 | €1,205 | €1,887 | ▲ 56.6% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
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
30-01
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
25-02
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 25 days late
2024
14-02
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 14 days late
2023
22-02
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 22 days late
2022
28-01
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
25-01
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
14-01
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
15-01
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
07-02
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 7 days late
2017
16-01
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
NBB filing
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Affligem · 1 establishment unit since 1998
Ground area
1,536 m²
Building footprint
761 m²
Volume, LiDAR
3,547 m³
2 parcels, Flanders · tallest building 11.5 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Marktplein 35, 1740 Ternat
since 19982.088.756.725
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23021B0479/00W002 | Flanders | 1,349 m² | 1 · 575 m² | 11.5 m · 1 fl. |
| 23086E0352/00C002indicative | Flanders | 187 m² | 1 · 185 m² | 11.1 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
1 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Identification & contact
Identification
Legal formPartnership limited by shares
Founded26-06-1997
Fiscal year end30-06
E-invoicing
Not found in the Peppol register
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
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Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.