PICARD CONSTRUCT 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 €2.66M and a net result of €1.07M. Equity is growing by ~5.2% per year across the filed fiscal years. Its solvency ranks better than 20% of 2389 sector peers (fiscal year 2025). The company has been active since 1999 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 20% of 2389 sector peers (2025).
NBB · sector comparisonPosition among 2389 sector peers
Solvency
better than 20%
← 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 25-08-2026, 25 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
25 d late
2024
30 d early
2023
93 d early
2022
31 d late
2021
31 d late
2020
25 d early
2019
91 d late
← 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
21-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Equity
€2.66M▲ 67.0%
2024 · €1.59M
2018: €1.42M
2019: €1.58M
2020: €1.63M
2021: €1.04M
2022: €885k
2023: €1.33M
2024: €1.59M
2018 → 2025
Net result
€1.07M▲ 303%
2024 · €265k
2018: €202k
2019: €248k
2020: €53k
2021: €192k
2022: €-154k
2023: €443k
2024: €265k
2018 → 2025
Total assets
€10.87M▲ 2.6%
2024 · €10.59M
2018: €8.32M
2019: €10.51M
2020: €8.39M
2021: €8.69M
2022: €8.16M
2023: €10.38M
2024: €10.59M
2018 → 2025
Solvency
24.4%▲ 9.4pp
2024 · 15.0%
2018: 17.0%
2019: 15.0%
2020: 19.4%
2021: 12.0%
2022: 10.8%
2023: 12.8%
2024: 15.0%
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€22.48M-€20.36M▼ 9.4%€26.78M▲ 31.5%€25.98M▼ 3.0%€34.43M▲ 32.5%
Equity€1.04M-€885k▼ 14.9%€1.33M▲ 49.9%€1.59M▲ 19.9%€2.66M▲ 67.0%
Operating result€364k-€-53k€737k€537k▼ 27.1%€1.57M▲ 192%
Net result€192k-€-154k€443k€265k▼ 40.3%€1.07M▲ 303%
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 192% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €10.83M
Fixed assets
€3.43M▼ 4.4%
Current assets
€7.40M▲ 6.7%
Equity and liabilities €10.87M
Equity
€2.66M▲ 67.0%
Provisions
€45k▲ 50.0%
Debt
€8.17M▼ 8.9%
The debt ratio falls from 84.7% to 75.2%. Equity is higher and debt is lower.
Key figures and ratios
Solvency
24.4%▲
2024 · 15.0%
ROE
40.2%▲
2024 · 16.6%
ROA
9.8%▲
2024 · 2.5%
Debt
€8.17M▼
2024 · €8.97M
Debt ≤ 1 year
€5.86M▼
2024 · €6.59M
Debt > 1 year
€2.26M▼
2024 · €2.39M
Income taxes
€396k▲
2024 · €136k
Staff costs
€5.47M▲
2024 · €4.41M
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€10.59M€10.87M▲
Formation expenses20€67k€42k▼
Fixed assets21/28€3.59M€3.43M▼
Intangible fixed assets21€4k€58k▲
Tangible fixed assets22/27€3.52M€3.31M▼
Land and buildings22€2.45M€2.32M▼
Plant, machinery and equipment23€235k€246k▲
Furniture and vehicles24€231k€224k▼
Leasing and similar rights25€605k€513k▼
Financial fixed assets28€62k€62k=
Other financial fixed assets284/8€62k€62k=
Shares284€62k€62k=
Amounts receivable and cash guarantees285/8€91€91=
Current assets29/58€6.94M€7.40M▲
Stocks and contracts in progress3€1.59M€1.46M▼
Stocks30/36€315k€216k▼
Raw materials and consumables30/31€315k€216k▼
Contracts in progress37€1.27M€1.25M▼
Amounts receivable within one year40/41€4.99M€5.47M▲
Trade receivables40€4.37M€4.41M▲
Other amounts receivable41€628k€1.07M▲
Cash at bank and in hand54/58€111k€287k▲
Deferred charges and accrued income490/1€249k€180k▼
Equity and liabilities
Total equity and liabilities10/49€10.59M€10.87M▲
Equity10/15€1.59M€2.66M▲
Contributions10/11€256k€256k=
Capital10€256k€256k=
Issued capital100€256k€256k=
Revaluation surpluses12€234k€234k=
Reserves13€242k€776k▲
Non-distributable reserves130/1€26k€26k=
Legal reserve130€26k€26k=
Tax-exempt reserves132€216k€751k▲
Profit (loss) carried forward14€835k€1.37M▲
Investment grants15€24k€23k▼
Provisions and deferred taxes16€30k€45k▲
Provisions for liabilities and charges160/5€30k€45k▲
Other liabilities and charges164/5€30k€45k▲
Amounts payable17/49€8.97M€8.17M▼
Amounts payable after more than one year17€2.39M€2.26M▼
Financial debts170/4€2.39M€2.26M▼
Subordinated loans170€130k€130k=
Leasing and similar obligations172€432k€334k▼
Credit institutions173€1.44M€1.06M▼
Other loans174€380k€737k▲
Amounts payable within one year42/48€6.59M€5.86M▼
Current portion of amounts payable after more than one year42€608k€591k▼
Financial debts43€961k€194k▼
Credit institutions430/8€961k€194k▼
Trade debts44€4.39M€3.88M▼
Suppliers440/4€4.39M€3.88M▼
Advances received on contracts in progress46-€654k
Taxes, remuneration and social security45€571k€494k▼
Taxes450/3€237k€114k▼
Remuneration and social security454/9€334k€380k▲
Other amounts payable47/48€58k€43k▼
Accrued charges and deferred income492/3€1k€57k▲
Income statement
Code20242025
Operating income70/76A€26.51M€34.52M▲
Turnover70€25.98M€34.43M▲
Change in stocks of work in progress, finished goods and contracts in progress71€126k€-444k▼
Other operating income74€363k€489k▲
Non-recurring operating income76A€39k€47k▲
Operating charges60/66A€25.97M€32.95M▲
Goods for resale, raw materials and consumables60€17.65M€22.84M▲
Purchases600/8€17.68M€22.74M▲
Change in stocks: decrease (increase)609€-34k€99k▲
Services and other goods61€3.30M€3.94M▲
Remuneration, social security and pensions62€4.41M€5.47M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€477k€548k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€45k€40k▼
Provisions for liabilities and charges: additions (uses and reversals)635/8-€15k
Other operating charges640/8€71k€77k▲
Non-recurring operating charges66A€23k€18k▼
Operating profit (loss)9901€537k€1.57M▲
Financial income75/76B€31k€46k▲
Recurring financial income75€31k€46k▲
Income from financial fixed assets750€0-
Income from current assets751€45€0▼
Other financial income752/9€31k€46k▲
Financial charges65/66B€167k€151k▼
Recurring financial charges65€167k€151k▼
Debt charges650€138k€140k▲
Other financial charges652/9€30k€11k▼
Profit (loss) for the period before taxes9903€401k€1.46M▲
Income taxes67/77€136k€396k▲
Taxes670/3€136k€396k▲
Profit (loss) for the period9904€265k€1.07M▲
Transfer from tax-exempt reserves789-€168k
Transfer to tax-exempt reserves689€0€703k▲
Profit (loss) for the period to be appropriated9905€265k€532k▲
Appropriation of the result
Profit (loss) to be appropriated9906€835k€1.37M▲
Profit (loss) brought forward from the previous period14P€570k€835k▲
Social balance
Average headcount (FTE)908779.387.2▲
The notes to these accounts (106 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
25-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 25 days late
2025
31-12
Financial
Highest result since 2018net €1.07M ▲303%
Operating result €1.57M, net result €1.07M, both a record.
31-12
Financial
Equity above €2MEq €2.66M ▲67%
3 profitable years in a row build equity to €2.66M.
01-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
29-04
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Back to profitnet €443k
Net result €443k after one loss-making year.
31-12
Financial
Equity above €1MEq €1.33M ▲49.9%
Equity rises from €885k to €1.33M.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 31 days late
2022
31-12
Financial
Weakest financial yearnet €-154k ▼180%
Net result drops to €-154k, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 31 days late
2021
06-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 91 days late
2019
26-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 26 days late
2018
12-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
19-06
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
15 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, Tenneville · 1 establishment unit since 1999
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.
Ramont 86970 TennevilleGround area
1,688 m²
Building footprint
541 m²
Parcel 83049A0239/00E003, Wallonia. Linked by address, not a title deed.
1 establishment unit
PICARD CONSTRUCT
since 19992.091.470.844
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 83049A0239/00E003 | Wallonia | 1,688 m² | 1 · 541 m² | - |
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.
Recognitions · licences · registrations
Recognised contractor
31 categoriesPICARD CONSTRUCT SA30161
Legal Entity Identifier
875500WJTICYCV6TZH34
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ORAKEL GROUP
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STEIGERS INVEST
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IMMO DECAIGNY
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Izegem · Eq €2.66M
DEVACON
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Of 24,728 companies in sector 64210 we hold annual accounts for 19,762. 10,059 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded09-04-1999
Fiscal year end31-12
Activities, NACEBEL
41001General construction of residential buildings
45211
64200Holdings
64210Activities of holding companies
74151
Sources
Crossroads Bank for EnterprisesNational Bank · 27 filingsAddress and cadastre registers
Data from official sources, last processed on 20-09-2026. Scores and ratios are computed by Checked and are not a credit decision.