Summary
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 €2.7m and a net result of €1.1m. Equity has been growing by about 9.4% per year since 2018. Its solvency ranks better than 20% of 3,033 sector peers (NACE 64, financial year 2025). The company has been active since 1999 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Overview
Official details
Source: KBO- Status
- Active since 09-04-1999 Normal situation
- Activity
- Activities of holding companies NACE 64210and 1 other
- Joint committees
- 124 Construction
- 200 Auxiliary committee for white-collar workers · annual accounts 2025
- Establishment unit
- 2.091.470.844 6970 Tenneville, since 30-06-1999
- Financial year end
- 31 December
- Peppol
- Reachable since 26-01-2026
Board and ownership
Board
- CABAY ChantalDirector · since 30-07-2021
- COLSON MarcDirector · since 30-07-2021
- ENBACO SRLDirector · since 01-10-2022 · permanent representative Bastien Colson
- Auditor
- PITON & Cie Réviseurs d'entreprises SRL
Shareholders
- ENBACO24.99%2025 annual accounts of ENBACO
- MCO developpement24.99%2025 annual accounts of MCO developpement
Financial position
Financial institution: outside the modelBankruptcy probability: sector outside the model
Annual accounts 2025
- Profit
- €1.1m
- ▲ 303%
- Equity
- €2.7m
- ▲ 67.0%
- Total assets
- €10.9m
- ▲ 2.6%
- Employees on 31-12-2025
- 95
- ▲ 13.1%
- 2025 accounts filed 25 days after the deadline
Signalsraises riskWeak solvency compared with the sector2025 accounts filed 25 days lateShow the evidence
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score measures liquidity, leverage and margins against the norms for trading and manufacturing companies. A bank, insurer or financial holding has a very different balance sheet. Those ratios and the score mean nothing here. So there is no financial strength either.
Bankruptcy probability within 12 months
The company is a financial institution: a bank, insurer or financial holding. Its balance sheet works differently from that of a trading or manufacturing company. A bankruptcy probability from the general model would mislead here.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Two signals.
raises risk
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 20% of 3033 sector peers (2025).
NBB · sector comparisonPosition among 3033 sector peers
Solvency
better than 20%
← weakest
strongest →
raises risk · 2025 accounts filed 25 days late
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. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filingsDeviation from the deadline
2025
25 days late
2024
30 days early
2023
93 days early
2022
31 days late
2021
31 days late
2020
25 days early
2019
91 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 4 days after the deadline. In the sector (NACE 64), the median for financial year 2024 was 14 days before the deadline, and 28% 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 25 August (4 of the last 5 accounts filed within 55 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
05-11-2026 today31-12-2026 year end31-07-2027 deadline
Financials
Financials · financial year 2025, full format
2025 annual accounts filed 25 days after the deadline Filed on 25 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00429912.
Annual accounts 2025 filed on 25-08-2026 at the NBB all 27 filings
Equity
€2.7m▲ 67.0%
2024 · €1.6m
Net result
€1.1m▲ 303%
2024 · €264,508
Total assets
€10.9m▲ 2.6%
2024 · €10.6m
Solvency
24.4%▲ 9.4pp
2024 · 15.0%
In the rankings
#1 employer in the province of Luxembourg, Finance and insurance sector#2 company by total assets in Tenneville#2 company by equity in Tenneville
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
€34.4m
▲ 32.5%
2025
20182025
Operating result
€1.6m
▲ 192%
2025
20182025
Net result
€1.1m
▲ 303%
2025
highest quarter of the sector
20182025
Equity
€2.7m
▲ 67.0%
2025
middle half of the sector
20182025
Total assets
€10.9m
▲ 2.6%
2025
middle half of the sector
20182025
Debt
€8.2m
▼ 8.9%
2025
20182025
Working capital
€1.5m
▲ 336%
2025
middle half of the sector
20182025
Solvency
24.4%
▲ 9.4pp
2025
lowest quarter of the sector
20182025
Current ratio
1.26
▲ 0.21
2025
middle half of the sector
20182025
Return on assets (ROA)
9.8%
▲ 7.3pp
2025
highest quarter of the sector
20182025
Staff (FTE)
87.2
▲ 10.0%
2025
highest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€17.7m-€25.8m▲ 45.9%€17.3m▼ 32.8%€22.5m▲ 29.8%€20.4m▼ 9.4%€26.8m▲ 31.5%€26.0m▼ 3.0%€34.4m▲ 32.5%
Operating result€0.4m-€0.4m▲ 18.5%€0.2m▼ 64.1%€0.4m▲ 138%-€0.05m€0.7m€0.5m▼ 27.1%€1.6m▲ 192%
Net result€0.2m-€0.2m▲ 22.6%€0.05mwithin the sector's middle half▼ 78.6%€0.2mwithin the sector's middle half▲ 261%-€0.2mbelow the sector's middle half€0.4mwithin the sector's middle half€0.3mwithin the sector's middle half▼ 40.3%€1.1mabove the sector's middle half▲ 303%
Equity€1.4m-€1.6m▲ 11.3%€1.6mwithin the sector's middle half▲ 3.2%€1.0mwithin the sector's middle half▼ 36.2%€0.9mwithin the sector's middle half▼ 14.9%€1.3mwithin the sector's middle half▲ 49.9%€1.6mwithin the sector's middle half▲ 19.9%€2.7mwithin the sector's middle half▲ 67.0%
Total assets€8.3m-€10.5m▲ 26.3%€8.4mwithin the sector's middle half▼ 20.1%€8.7mwithin the sector's middle half▲ 3.6%€8.2mwithin the sector's middle half▼ 6.1%€10.4mwithin the sector's middle half▲ 27.2%€10.6mwithin the sector's middle half▲ 2.0%€10.9mwithin the sector's middle half▲ 2.6%
Debt€6.9m-€8.8m▲ 27.6%€6.8m▼ 23.2%€7.6m▲ 12.3%€7.2m▼ 4.7%€9.0m▲ 24.6%€9.0m▼ 0.6%€8.2m▼ 8.9%
Working capital-€0.2m-€0.005m€0.003mwithin the sector's middle half▼ 32.6%-€0.3mwithin the sector's middle half-€0.04mwithin the sector's middle half▲ 86.2%€0.1mwithin the sector's middle half€0.4mwithin the sector's middle half▲ 195%€1.5mwithin the sector's middle half▲ 336%
Solvency17.0%-15.0%▼ 2.0pp19.4%below the sector's middle half▲ 4.4pp12.0%below the sector's middle half▼ 7.4pp10.8%below the sector's middle half▼ 1.1pp12.8%below the sector's middle half▲ 1.9pp15.0%below the sector's middle half▲ 2.2pp24.4%below the sector's middle half▲ 9.4pp
Current ratio0.96-1.00▲ 0.041.00within the sector's middle half=0.95within the sector's middle half▼ 0.050.99within the sector's middle half▲ 0.041.02within the sector's middle half▲ 0.031.05within the sector's middle half▲ 0.041.26within the sector's middle half▲ 0.21
Return on assets (ROA)2.4%-2.4%▼ 0.1pp0.6%within the sector's middle half▼ 1.7pp2.2%within the sector's middle half▲ 1.6pp-1.9%below the sector's middle half▼ 4.1pp4.3%within the sector's middle half▲ 6.1pp2.5%within the sector's middle half▼ 1.8pp9.8%above the sector's middle half▲ 7.3pp
Staff (FTE)71.6-80.4▲ 12.3%83.1above the sector's middle half▲ 3.4%77.9above the sector's middle half▼ 6.3%80.7above the sector's middle half▲ 3.6%76.9above the sector's middle half▼ 4.7%79.3above the sector's middle half▲ 3.1%87.2above the sector's middle half▲ 10.0%
above
within
below
The sector band is the middle half of the companies in Financial service activities, except insurance and pension funding (NACE 64). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 192% higher than in 2024 and the highest since 2018. It is a recovery after the fall in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €10.8m
Fixed assets
€3.4m ▼ 4.4%
Current assets
€7.4m ▲ 6.7%
Equity and liabilities €10.9m
Equity
€2.7m ▲ 67.0%
Provisions
€45,000 ▲ 50.0%
Debt
€8.2m ▼ 8.9%
Debt's share of the balance-sheet total falls from 84.7% to 75.2%. Equity is higher and debt is lower.
Key figures and ratios
ROE
40.2%▲
2024 · 16.6%
Debt ≤ 1 year
€5.9m▼
2024 · €6.6m
Debt > 1 year
€2.3m▼
2024 · €2.4m
Income taxes
€395,850▲
2024 · €136,449
Staff costs
€5.5m▲
2024 · €4.4m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Revenue breakdown
By activity 2025
- TRAVAUX ART 17 BIS €20,785,75860.4%
- TRAVAUX 21% €7,178,77220.9%
- TRAVAUX 6% €5,699,16816.6%
- TRAVAUX 12% €663,8281.9%
- VENTES DIVERSES €101,5070.3%
- VENTES MAT.1°,MAT.CONST.,MISES €1,3230.0%
Total €34,430,357
Source: 2025 accounts, page 25, filing 2026-00429912
All years (2015 to 2025)
| By activity | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| TRAVAUX ART 17 BIS | - | - | - | - | - | - | - | - | €11,080,265 | €16,863,696 | €20,785,758 |
| TRAVAUX 21% | - | - | - | - | - | - | - | - | €6,117,158 | €4,548,276 | €7,178,772 |
| TRAVAUX 6% | - | - | - | - | - | - | - | - | €6,859,556 | €4,460,043 | €5,699,168 |
| TRAVAUX 12% | - | - | - | - | - | - | - | - | €2,048,817 | €0 | €663,828 |
| VENTES DIVERSES | - | - | - | - | - | - | - | - | €44,168 | €74,667 | €101,507 |
| VENTES MAT.1°,MAT.CONST.,MISES | - | - | - | - | - | - | - | - | €2,499 | €0 | €1,323 |
| Travaux S/Luxembourg 17 % | - | - | - | - | - | - | - | - | €629,476 | €34,047 | €0 |
| Prestations de service | - | - | - | - | - | - | - | - | €0 | €490 | €0 |
| VENTES INTRA-COMMUNAUTAIRE | - | - | - | - | - | - | - | - | €1,562 | €0 | - |
| Construction | €15,613,779 | €19,698,295 | €15,784,334 | €17,658,198 | €25,764,064 | €17,316,713 | €22,481,883 | €20,360,027 | €0 | - | - |
| Total | €15,613,779 | €19,698,295 | €15,784,334 | €17,658,198 | €25,764,064 | €17,316,713 | €22,481,883 | €20,360,027 | €26,783,500 | €25,981,219 | €34,430,357 |
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 81 | 80 | 77 | 84 | 95 |
| full-time | 70 | 71 | 64 | 66 | 76 |
| part-time | 11 | 9 | 13 | 18 | 19 |
| in full-time equivalents | 78.9 | 78.3 | 74.3 | 80.4 | 91.3 |
| Average over the year, in full-time equivalents | 77.9 | 80.7 | 76.9 | 79.3 | 87.2 |
| On a permanent contract | 78 | 74 | 70 | 79 | 92 |
| Joined | 23 | 25 | 45 | 52 | 67 |
| Left | 23 | 25 | 48 | 46 | 56 |
| Agency workers, average number | - | 0.3 | 0.5 | 1 | 0.2 |
| Training hours | 1,741 | 3,466 | 4,136 | 6,266 | 6,286 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Overdue debts
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Overdue social security (RSZ) debts | €118,951 | - | - | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts)
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €2.6m | €2.9m | €3.1m | €3.4m | €2.2m |
| Mortgage mandates | €3.4m | €2.1m | €2.1m | €2.1m | €2.1m |
| Carrying value of the mortgaged assets | €2.0m | €2.0m | €2.0m | €1.9m | €1.8m |
| Pledge on the business | €660,000 | €660,000 | €1.1m | €1.1m | €1.1m |
| Pledge on other assets, amount secured | €600,000 | €600,000 | €600,000 | €600,000 | €600,000 |
| Carrying value of the other pledged assets | €484,421 | €553,199 | €391,679 | €604,806 | €536,823 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €455,899 | €583,498 | €541,062 | €566,604 | €308,898 |
| Intangible fixed assets | - | €4,835 | €7,563 | - | €57,848 |
| Financial fixed assets | - | €14,200 | €50,000 | €60,000 | - |
| Depreciation and write-downs of the year | €520,932 | €508,449 | €487,306 | €476,573 | €547,984 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Auditor
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Fee for the audit | €4,999 | €5,612 | €6,169 | €7,198 | €8,400 |
Source: notes to the 2021 to 2025 annual accounts (relations with the auditor)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €23.1m | €21.0m | €27.4m | €26.5m | €34.5m | ▲ 30.2% |
| Turnover70 | €17.7m | €25.8m | €17.3m | €22.5m | €20.4m | €26.8m | €26.0m | €34.4m | ▲ 32.5% |
| Change in stocks of work in progress, finished goods and contracts in progress71 | - | - | - | €0.2m | €0.3m | €0.2m | €0.1m | -€0.4m | - |
| Other operating income74 | - | - | - | €0.4m | €0.3m | €0.4m | €0.4m | €0.5m | ▲ 34.7% |
| Non-recurring operating income76A | - | - | - | €0.01m | €0.05m | €0.03m | €0.04m | €0.05m | ▲ 19.7% |
| Operating charges60/66A | - | - | - | €22.7m | €21.1m | €26.6m | €26.0m | €33.0m | ▲ 26.9% |
| Goods for resale, raw materials and consumables60 | - | - | - | €16.0m | €13.7m | €18.5m | €17.6m | €22.8m | ▲ 29.4% |
| Purchases600/8 | - | - | - | €16.0m | €13.8m | €18.5m | €17.7m | €22.7m | ▲ 28.6% |
| Change in stocks: decrease (increase)609 | - | - | - | €0.01m | -€0.1m | €0.01m | -€0.03m | €0.1m | - |
| Services and other goods61 | - | - | - | €2.1m | €2.4m | €3.0m | €3.3m | €3.9m | ▲ 19.6% |
| Remuneration, social security and pensions62 | - | - | - | €3.9m | €4.4m | €4.5m | €4.4m | €5.5m | ▲ 24.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.3m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | ▲ 15.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €0.05m | €0.04m | €0.05m | €0.05m | €0.04m | ▼ 10.4% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | €0.03m | -€0.03m | €0 | - | €0.02m | - |
| Other operating charges640/8 | - | - | - | €0.06m | €0.06m | €0.09m | €0.07m | €0.08m | ▲ 8.9% |
| Non-recurring operating charges66A | - | - | - | €0.002m | - | €0.008m | €0.02m | €0.02m | ▼ 21.1% |
| Operating profit (loss)9901 | €0.4m | €0.4m | €0.2m | €0.4m | -€0.05m | €0.7m | €0.5m | €1.6m | ▲ 192% |
| Financial income75/76B | - | - | - | €0.02m | €0.008m | €0.02m | €0.03m | €0.05m | ▲ 48.3% |
| Recurring financial income75 | €0.02m | €0.06m | €0.03m | €0.02m | €0.008m | €0.02m | €0.03m | €0.05m | ▲ 48.3% |
| Income from financial fixed assets750 | - | - | - | - | - | €0 | €0 | - | - |
| Income from current assets751 | - | - | - | - | - | - | €45 | €0 | ▼ 99.2% |
| Other financial income752/9 | - | - | - | €0.02m | €0.008m | €0.02m | €0.03m | €0.05m | ▲ 48.6% |
| Financial charges65/66B | - | - | - | €0.06m | €0.07m | €0.2m | €0.2m | €0.2m | ▼ 9.5% |
| Recurring financial charges65 | €0.06m | €0.06m | €0.06m | €0.06m | €0.07m | €0.2m | €0.2m | €0.2m | ▼ 9.5% |
| Debt charges650 | €0.04m | €0.06m | €0.05m | €0.05m | €0.06m | €0.1m | €0.1m | €0.1m | ▲ 2.2% |
| Other financial charges652/9 | - | - | - | €0.008m | €0.009m | €0.02m | €0.03m | €0.01m | ▼ 63.5% |
| Profit (loss) for the period before taxes9903 | €0.3m | €0.4m | €0.1m | €0.3m | -€0.1m | €0.6m | €0.4m | €1.5m | ▲ 265% |
| Income taxes67/77 | €0.1m | €0.2m | €0.07m | €0.1m | €0.04m | €0.2m | €0.1m | €0.4m | ▲ 190% |
| Taxes670/3 | - | - | - | €0.1m | €0.04m | €0.2m | €0.1m | €0.4m | ▲ 190% |
| Profit (loss) for the period9904 | €0.2m | €0.2m | €0.05m | €0.2m | -€0.2m | €0.4m | €0.3m | €1.1m | ▲ 303% |
| Transfer from tax-exempt reserves789 | - | - | - | - | - | - | - | €0.2m | - |
| Transfer to tax-exempt reserves689 | - | - | - | - | - | €0.2m | €0 | €0.7m | - |
| Profit (loss) for the period to be appropriated9905 | €0.2m | €0.2m | €0.05m | €0.2m | -€0.2m | €0.2m | €0.3m | €0.5m | ▲ 101% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €8.3m | €10.5m | €8.4m | €8.7m | €8.2m | €10.4m | €10.6m | €10.9m | ▲ 2.6% |
| Formation expenses20 | €0.02m | €0.04m | €0.03m | €0.02m | €0.01m | €0.005m | €0.07m | €0.04m | ▼ 37.1% |
| Fixed assets21/28 | €3.9m | €4.2m | €3.9m | €3.3m | €3.4m | €3.5m | €3.6m | €3.4m | ▼ 4.4% |
| Intangible fixed assets21 | €0.01m | €0.03m | €0.03m | €0.01m | €0.007m | €0.008m | €0.004m | €0.06m | ▲ 15× |
| Tangible fixed assets22/27 | €3.9m | €4.1m | €3.8m | €3.3m | €3.4m | €3.4m | €3.5m | €3.3m | ▼ 6.0% |
| Land and buildings22 | - | - | - | €2.5m | €2.5m | €2.5m | €2.4m | €2.3m | ▼ 5.1% |
| Plant, machinery and equipment23 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | ▲ 4.7% |
| Furniture and vehicles24 | - | - | - | €0.1m | €0.2m | €0.3m | €0.2m | €0.2m | ▼ 3.3% |
| Leasing and similar rights25 | - | - | - | €0.5m | €0.5m | €0.5m | €0.6m | €0.5m | ▼ 15.1% |
| Financial fixed assets28 | €0.004m | €0.002m | €0.002m | €0.002m | €0.02m | €0.07m | €0.06m | €0.06m | = |
| Other financial fixed assets284/8 | - | - | - | €0.002m | €0.02m | €0.07m | €0.06m | €0.06m | = |
| Shares284 | - | - | - | €0.002m | €0.02m | €0.07m | €0.06m | €0.06m | = |
| Amounts receivable and cash guarantees285/8 | - | - | - | €91 | €91 | €91 | €91 | €91 | = |
| Current assets29/58 | €4.4m | €6.3m | €4.5m | €5.3m | €4.7m | €6.9m | €6.9m | €7.4m | ▲ 6.7% |
| Amounts receivable after more than one year29 | - | - | - | €0.1m | - | - | - | - | - |
| Other amounts receivable291 | - | - | - | €0.1m | - | - | - | - | - |
| Stocks and contracts in progress3 | €0.4m | €0.4m | €0.4m | €0.5m | €0.8m | €1.2m | €1.6m | €1.5m | ▼ 7.8% |
| Stocks30/36 | - | - | - | €0.2m | €0.3m | €0.3m | €0.3m | €0.2m | ▼ 31.5% |
| Raw materials and consumables30/31 | - | - | - | €0.2m | €0.3m | €0.3m | €0.3m | €0.2m | ▼ 31.5% |
| Contracts in progress37 | - | - | - | €0.3m | €0.5m | €0.9m | €1.3m | €1.2m | ▼ 2.0% |
| Amounts receivable within one year40/41 | €3.5m | €5.0m | €3.0m | €3.7m | €3.5m | €5.3m | €5.0m | €5.5m | ▲ 9.6% |
| Trade receivables40 | - | - | - | €3.1m | €3.0m | €4.8m | €4.4m | €4.4m | ▲ 0.9% |
| Other amounts receivable41 | - | - | - | €0.6m | €0.5m | €0.6m | €0.6m | €1.1m | ▲ 70.2% |
| Cash at bank and in hand54/58 | €0.2m | €0.2m | €0.2m | €0.9m | €0.2m | €0.2m | €0.1m | €0.3m | ▲ 159% |
| Deferred charges and accrued income490/1 | - | - | - | €0.09m | €0.2m | €0.1m | €0.2m | €0.2m | ▼ 27.9% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €8.3m | €10.5m | €8.4m | €8.7m | €8.2m | €10.4m | €10.6m | €10.9m | ▲ 2.6% |
| Equity10/15 | €1.4m | €1.6m | €1.6m | €1.0m | €0.9m | €1.3m | €1.6m | €2.7m | ▲ 67.0% |
| Contributions10/11 | €0.6m | €0.6m | €0.6m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Capital10 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Issued capital100 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Revaluation surpluses12 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Reserves13 | €0.07m | €0.07m | €0.07m | €0.03m | €0.03m | €0.2m | €0.2m | €0.8m | ▲ 221% |
| Non-distributable reserves130/1 | - | - | - | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Legal reserve130 | - | - | - | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Tax-exempt reserves132 | - | - | - | €0.006m | €0.006m | €0.2m | €0.2m | €0.8m | ▲ 247% |
| Profit (loss) carried forward14 | €0.7m | €0.9m | €1.0m | €0.5m | €0.3m | €0.6m | €0.8m | €1.4m | ▲ 63.7% |
| Investment grants15 | - | - | - | €0.03m | €0.03m | €0.02m | €0.02m | €0.02m | ▼ 4.2% |
| Provisions and deferred taxes16 | - | €0.1m | - | €0.06m | €0.03m | €0.03m | €0.03m | €0.05m | ▲ 50.0% |
| Provisions for liabilities and charges160/5 | - | - | - | €0.06m | €0.03m | €0.03m | €0.03m | €0.05m | ▲ 50.0% |
| Other liabilities and charges164/5 | - | - | - | €0.06m | €0.03m | €0.03m | €0.03m | €0.05m | ▲ 50.0% |
| Amounts payable17/49 | €6.9m | €8.8m | €6.8m | €7.6m | €7.2m | €9.0m | €9.0m | €8.2m | ▼ 8.9% |
| Amounts payable after more than one year17 | €2.3m | €2.5m | €2.3m | €2.0m | €2.5m | €2.2m | €2.4m | €2.3m | ▼ 5.4% |
| Financial debts170/4 | - | - | - | €2.0m | €2.5m | €2.2m | €2.4m | €2.3m | ▼ 5.4% |
| Subordinated loans170 | - | - | - | €0.1m | €0.6m | €0.1m | €0.1m | €0.1m | = |
| Leasing and similar obligations172 | - | - | - | €0.3m | €0.3m | €0.3m | €0.4m | €0.3m | ▼ 22.5% |
| Credit institutions173 | - | - | - | €1.6m | €1.5m | €1.2m | €1.4m | €1.1m | ▼ 26.9% |
| Other loans174 | - | - | - | - | - | €0.5m | €0.4m | €0.7m | ▲ 93.9% |
| Amounts payable within one year42/48 | €4.6m | €6.3m | €4.5m | €5.6m | €4.8m | €6.8m | €6.6m | €5.9m | ▼ 11.1% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.5m | €0.5m | €0.5m | €0.6m | €0.6m | ▼ 2.8% |
| Financial debts43 | - | - | - | €0.2m | €0.5m | €1.0m | €1.0m | €0.2m | ▼ 79.8% |
| Credit institutions430/8 | - | - | - | €0.2m | €0.5m | €1.0m | €1.0m | €0.2m | ▼ 79.8% |
| Trade debts44 | €3.3m | €4.8m | €2.8m | €4.4m | €3.2m | €4.6m | €4.4m | €3.9m | ▼ 11.5% |
| Suppliers440/4 | - | - | - | €4.4m | €3.2m | €4.6m | €4.4m | €3.9m | ▼ 11.5% |
| Advances received on contracts in progress46 | - | - | - | - | - | - | - | €0.7m | - |
| Taxes, remuneration and social security45 | - | - | - | €0.4m | €0.5m | €0.6m | €0.6m | €0.5m | ▼ 13.5% |
| Taxes450/3 | - | - | - | €0.1m | €0.3m | €0.2m | €0.2m | €0.1m | ▼ 52.0% |
| Remuneration and social security454/9 | - | - | - | €0.2m | €0.3m | €0.4m | €0.3m | €0.4m | ▲ 13.8% |
| Other amounts payable47/48 | - | - | - | €0.02m | €0.04m | €0.05m | €0.06m | €0.04m | ▼ 26.4% |
| Accrued charges and deferred income492/3 | - | - | - | €0.004m | €0.007m | €0.05m | €0.001m | €0.06m | ▲ 53× |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.2m | €0.2m | €0.05m | €0.2m | -€0.2m | €0.4m | €0.3m | €1.1m | ▲ 303% |
| + Depreciation and write-downs630 | €0.3m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | ▲ 15.0% |
| Operating cash flow (approximation) | €0.5m | €0.7m | €0.6m | €0.7m | €0.4m | €0.9m | €0.7m | €1.6m | ▲ 118% |
| Investment in fixed assets (approximation) | - | -€0.7m | -€0.2m | -€0.003m | -€0.6m | -€0.6m | -€0.6m | -€0.4m | ▲ 30.1% |
| Change in cash | - | €0.03m | -€0.009m | €0.7m | -€0.7m | -€0.03m | -€0.08m | €0.2m | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 27 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 25-08-2026 | 2026-00429912 | |
| 31-12-2024 | full format | 01-07-2025 | 2025-00206793 | |
| 31-12-2023 | full format | 29-04-2024 | 2024-00071612 | |
| 31-12-2022 | full format | 31-08-2023 | 2023-00391597 | |
| 31-12-2021 | full format | 31-08-2022 | 2022-20358775 | |
| 31-12-2020 | full format | 06-07-2021 | 2021-30800566 | |
| 31-12-2019 | full format | 30-10-2020 | 2020-64900054 | |
| 31-12-2018 | full format | 26-08-2019 | 2019-49900440 | |
| 31-12-2017 | full format | 12-07-2018 | 2018-32000233 | |
| 31-12-2016 | full format | 19-06-2017 | 2017-18800522 |
Board & ownership
Directors
Directors
4 directors, last change in 2022
Board 4
CABAY Chantal
Current
COLSON Marc
Current
ENBACO SRL
Current
Director · since 01-10-2022 · Legal entity · permanent representative: Bastien Colson · listed in the 2025 annual accounts, filed on 25-08-2026
MCO developpement SRL
Current
Director · since 01-10-2022 · Legal entity · permanent representative: Mathilde Colson · listed in the 2025 annual accounts, filed on 25-08-2026
Permanent representatives 2
Bastien Colson
Current
Permanent representative · appointed by deed of 14-11-2022 · for ENBACO SRL
Mathilde Colson
Current
Permanent representative · appointed by deed of 14-11-2022 · for MCO developpement SRL
Statutory auditor 1
PITON & Cie Réviseurs d'entreprises SRL
Current
Statutory auditor · since 03-06-2024 · permanent representative: Valérie PITON · listed in the 2025 annual accounts, filed on 25-08-2026
Owners and capital
Shareholders
2 ownersOwners 2
- Sourceaccounts ENBACO 2025Equity €146,174 Profit of €60,989 in 2025 (profit of €38,691 in 2024)24.99%
- Equity €126,238 Profit of €58,035 in 2025 (profit of €31,385 in 2024)24.99%
Owners through the years 2023 to 2025
| Name | 2023 | 2024 | 2025 |
|---|---|---|---|
| ENBACO | 10.02% | 24.99% | |
| MCO developpement | 10.02% | ||
Source: lists of holdings in the owners' accounts
Mandate history
8 people, 5 in office
- Board
- Statutory auditor
- mandate already running before its first mention
| Name | Functions and periods |
|---|---|
| CABAY Chantal |
|
| COLSON Marc |
|
| ENBACO SRL |
|
| MCO developpement SRL |
|
| PITON & Cie Réviseurs d'entreprises SRL |
|
| APH AUDIT |
|
| Bastien Colson |
|
| Mathilde Colson |
|
Network & group
Parent company per the LEI register
Parent company:
none declared
Own declaration in the LEI register: 875500WJTICYCV6TZH34
Companies at the same address
5 other companies- Binamé, Gaëtan (sole trader) Establishment · since 01-10-2024Founded in 2024 1015.176.066
- PICARD CONSTRUCT - GERARD CONSTRUCTION Registered office · since 30-05-2023Founded in 2023 0803.329.848
- ENBACO Registered office · since 29-09-2022Founded in 2022 · total assets €803,997 (2025) 0791.615.020
- MCO developpement Registered office · since 29-09-2022Founded in 2022 · total assets €817,688 (2025) 0791.614.525
- COLCAB IMMOBILIERE Registered office · since 12-07-2021Founded in 2021 · total assets €1.1m (2025) 0771.298.666
Connections & network
4 current directorsThe network starts from the directors of PICARD CONSTRUCT. Every other company they run is a node.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Timeline
Deeds, filings and financial milestones
Deadline for the 2026 accounts:
2026
25-08
full format · 25 days late
2025
31-12
Financial
Highest result from 2018 to 2025net €1.1m ▲303%
The operating result of €1.6m and the net result of €1.1m are both a record.
31-12
Financial
Equity above €2mequity €2.7m ▲67%
After 3 profitable years in a row, equity reaches €2.7m.
01-07
full format · 30 days before the deadline
2024
22-11
Gazette deed
Reappointment: PITON & Cie Réviseurs d'entreprises SRL (statutory auditor)1 point ▸
Gazette deed
Reappointment: PITON & Cie Réviseurs d'entreprises SRL (statutory auditor)
1 point ▸
- Auditor reappointment, PITON & Cie Réviseurs d'entreprises SRL (statutory auditor)
29-04
full format · 93 days before the deadline
2023
31-12
Financial
Back to profitnet €442,692
The net result is €442,692, after one loss-making year.
31-12
Financial
Equity above €1mequity €1.3m ▲49.9%
Equity rises from €884,745 to €1.3m.
31-08
full format · 31 days late
2022
31-12
Financial
Weakest financial yearnet -€153,845
The net result drops to -€153,845, the lowest from 2018 to 2025. It recovers the following year.
14-11
Gazette deed
2 directors appointed, 2 directors resigningResignations: Bastien Colson (director) and Mathilde Colson (director) · Appointments: ENBACO SRL (director) and MCO developpement SRL (director) · Permanent representatives: Bastien Colson and Mathilde Colson12 points ▸
Gazette deed
2 directors appointed, 2 directors resigning
Resignations: Bastien Colson (director) and Mathilde Colson (director) · Appointments: ENBACO SRL (director) and MCO developpement SRL (director) · Permanent representatives: Bastien Colson and Mathilde Colson12 points ▸
- General meeting, 24-10-2022
- Director resignation, Bastien Colson
- Director discharge, Bastien Colson
- Director resignation, Mathilde Colson
- Director discharge, Mathilde Colson
- Director appointment, ENBACO SRL
- Director appointment, MCO developpement SRL
- Permanent representative, Bastien Colson
- Permanent representative, Mathilde Colson
- Board composition, Marc Colson (managing director)
- Board composition, Chantal Cabay (managing director)
- Board composition, ENBACO SRL (director)
- The deed holds 1 more point.
31-08
full format · 31 days late
Show earlier events
06-05
Gazette deed
Reappointment: APH audit SRL (statutory auditor)1 point ▸
Gazette deed
Reappointment: APH audit SRL (statutory auditor)
1 point ▸
- Auditor reappointment, APH audit SRL (statutory auditor)
2021
06-07
full format · 25 days before the deadline
2020
30-10
full format · 91 days late
2019
26-08
full format · 26 days late
2018
12-07
full format · 19 days before the deadline
2017
19-06
full format · 42 days before the deadline
1999
21-04
Gazette deed
Incorporation
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
PICARD CONSTRUCT in French
Enterprise number
0465.839.530
LEI code
875500WJTICYCV6TZH34
live in the LEI register
Legal form
Public limited company
Status
Active, normal situation
Founded
09-04-1999
Entity type
Legal entity
Registered office and establishments
Registered office
Ramont 8, 6970 Tenneville, Belgium
Establishment unit
PICARD CONSTRUCT, Ramont 8, 6970 Tenneville since 30-06-1999 · unit number 2.091.470.844 23700 Cutting, shaping and finishing of stone
Activities
NACEBEL 2025VAT activities
64210
Activities of holding companies main activity
Social security (RSZ) activities
41001
General construction of residential buildings main activity
Codes under NACEBEL 2008
VAT activities
64200
Holdings main activity
Social security (RSZ) activities
41201
General construction of buildings main activity
Codes under NACEBEL 2003
VAT activities
74151
main activity
Social security (RSZ) activities
45211
main activity
Joint committees
124 Construction
200 Auxiliary committee for white-collar workers annual accounts 2025
Invoicing and payment
VAT number
BE 0465.839.530
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0465.839.530
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Recognitions · licences · registrations
Recognised contractor
31 categoriesPICARD CONSTRUCT SAapproval number 30161
- C1 Ordinary sewer worksclass 5, up to €2,172,000
- C5 Bituminous paving and surface dressingclass 4, up to €1,080,000
- D General building contractsclass 7, up to €6,396,000
- D1 All shell construction and roofing-in of buildingsclass 7, up to €6,396,000
- D4 Sound and heat insulation, light partitions, false ceilings and floorsclass 5, up to €2,172,000
- D5 General joinery, timber roof trusses and stairsclass 5, up to €2,172,000
- D7 Wrought ironworkclass 3, up to €600,000
- D8 Asphalt and similar roof coverings, waterproofingclass 5, up to €2,172,000
Show all 31 categories
- D10 Tilingclass 5, up to €2,172,000
- D11 Plastering and renderingclass 5, up to €2,172,000
- D12 Non-metal, non-asphalt roof coveringsclass 3, up to €600,000
- D13 Paintingclass 3, up to €600,000
- D14 Glazingclass 5, up to €2,172,000
- D16 Sanitary installations and gas heating with individual appliancesclass 5, up to €2,172,000
- D17 Central heating, thermal installationsclass 4, up to €1,080,000
- D18 Ventilation, warm-air heating and air conditioningclass 4, up to €1,080,000
- D20 Metal joineryclass 5, up to €2,172,000
- D22 Metal roofing and zinc workclass 5, up to €2,172,000
- D25 Wall and floor coverings other than marble, parquet and tilesclass 4, up to €1,080,000
- D29 Floor screeds and industrial floor coveringsclass 3, up to €600,000
- E General civil engineering contractsclass 4, up to €1,080,000
- F2 Steel load-bearing structuresclass 4, up to €1,080,000
- F3 Industrial paintingclass 2, up to €330,000
- G General earthworks contractsclass 4, up to €1,080,000
- G1 Drilling, probing and injectionclass 3, up to €600,000
- G2 Drainage worksclass 2, up to €330,000
- G5 Demolitionclass 4, up to €1,080,000
- P1 Electrical installations in buildings, with fire and burglar alarms and telecomsclass 5, up to €2,172,000
- P2 Electrical and electromechanical installations of structures and industry, outdoor installationsclass 3, up to €600,000
- P3 Overhead power linesclass 3, up to €600,000
- S1 Public telephone and telegraph equipmentclass 3, up to €600,000
Sites & property
Location
Buildings and parcels at the address
Ground area
1,688 m²
Building footprint
541 m²
Building volume
4,843 m³
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 83049A0239/00E003 | Wallonia | 1,688 m² | 1 · 541 m² | 13.0 m · 3 |