Picas

Active

Public limited companyfounded 1985active for 41 yearsMatenstraat 208, 2845 Niel, BelgiumKBO/BCE: BE 0428.038.630

Summary

Picas has been active since 1985 and the Belgian Official Gazette contains no insolvency or warning signals. The 2026 annual accounts show equity of €4.4m and a net result of €333,878, of which €215,101 non-recurring income. Equity remains stable across the filed financial years (±1.5% per year). Its solvency ranks better than 86% of 145 sector peers (NACE 68, financial year 2026). The computed 12-month bankruptcy probability is below 0.1% (very low).

Risk analysisFollow Report Compare

PicasActiveChecked score 98/100

Risk analysis Report Compare

Activity

Renting and operating of own or leased non-residential real estate, excluding land

NACE 68203

1 site

Size

≈ €800,000turnover 2026, estimated

Equity: €4.4m
Profit: €333,878

Turnover estimated from the gross marginNet result +113%: other schema

Financial health

98 Excellent Checked score 2026

Bankruptcy probabilitywithin 12 months: < 0.1%

Structure

Parent: RIGGIN · 100%

Lars VoordeckersManaging director
RIGGINManaging director · permanent representative Erik Verkest

Auditor: Moore Audit2026 accounts 31 days early4 of 9 deeds summarised

Why 98raises riskLiquidity: current ratio 1.11, cash €319,488lowers riskSize: total assets €5.2mFigures for financial year 2026 (filed 01-10-2026)Founded in 1985Show the evidence

Checked score

Score 2026

98 / 100

Excellent

Probability in this band: under 0.55%

Financially better than 83% of its sector peers (NACE 68, small)

Every signal that counts is listed under Signals.

Financial strength · tick = 2025

Strong

Solvency 100=

equity 84.3% of total assets

Liquidity 58-2

short-term debt 6.7% · cash 6.1%

Profitability 77+4

return on assets 6.4%

Bankruptcy probability, 12 months

< 0.1% Very low

0%0.5%1.5%4%10%≥ 25%

Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.1% (6,987 companies, NACE 68, small)

Last 24 months 11-2024: < 0.1%lowest value 12-2024: < 0.1%● unchanged vs 11-2024lowest value 01-2025: < 0.1%● unchanged vs 12-2024lowest value 02-2025: < 0.1%● unchanged vs 01-2025lowest value 03-2025: < 0.1%● unchanged vs 02-2025lowest value 04-2025: < 0.1%● unchanged vs 03-2025lowest value 05-2025: < 0.1%● unchanged vs 04-2025 06-2025: < 0.1%● unchanged vs 05-2025 07-2025: < 0.1%● unchanged vs 06-2025 08-2025: < 0.1%● unchanged vs 07-2025 09-2025: < 0.1%● unchanged vs 08-2025 10-2025: < 0.1%● unchanged vs 09-2025 11-2025: < 0.1%● unchanged vs 10-2025 12-2025: < 0.1%● unchanged vs 11-2025 01-2026: < 0.1%● unchanged vs 12-2025 02-2026: < 0.1%● unchanged vs 01-2026 03-2026: < 0.1%● unchanged vs 02-2026 04-2026: < 0.1%● unchanged vs 03-2026 05-2026: < 0.1%● unchanged vs 04-2026 06-2026: < 0.1%● unchanged vs 05-2026 07-2026: < 0.1%● unchanged vs 06-2026 08-2026: < 0.1%● unchanged vs 07-2026 09-2026: < 0.1%● unchanged vs 08-2026highest value 10-2026: < 0.1%● unchanged vs 09-2026

Credit of up to €430,000 on 30-day terms is acceptable

Liquidity tight (current ratio 1.11, compared with 1.48 in 2025, below the usual 1.5; short-term debt: 6.7% and cash: 6.1% of total assets), and 15.7% of the assets are financed with debt and provisions.

How it is calculated

The band follows from the bankruptcy probability, on a scale where 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 68, small): better than 92% on solvency, 84% on liquidity, 86% on profitability and 70% on growth.

The bankruptcy probability was computed on 29-10-2026 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.

Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Signals

Six signals.

lowers riskraises riskneutral

Size: total assets €5.2m

Companies of this size fail less often; how much that weighs depends on the rest of its profile.

NBB · annual accounts

Figures for financial year 2026 (filed 01-10-2026)

NBB · annual accounts

Liquidity: current ratio 1.11, cash €319,488

NBB · annual accounts

Founded in 1985

Companies that have existed this long fail less often; how much that weighs depends on the rest of its profile.

KBO

Growing equity

Reported equity is higher than in 2024 and did not fall compared with 2025. These amounts do not establish the cause of the change.

NBB · annual accounts 2026

Equity per financial year

1920212223242526

2019 to 2026 · latest year €4.4m

Latest accounts filed on time

The financial year that closed on 31-03-2026 was due by 31-10-2026 and was filed on 30-09-2026, 31 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2026

31 days early

2025

53 days early

2024

42 days early

2023

33 days early

2022

28 days early

2021

33 days early

2020

47 days early

← before the deadline after the deadline →

tick = median of all Belgian filingsring = median in the sector

This company filed its last 7 accounts on average 38 days before the deadline; the sector median (NACE 68) for financial year 2024 is 7 days before the deadline, and 36% of those companies filed late.

Searched, nothing found (2)

Next filing not due yet

The next financial year closes on 31-03-2027 and is due by 31-10-2027. Nothing is late today. The company usually files around 28 September (5 of the last 5 filed years within 30 days of that day).

Companies Code · seven months

Where today falls in the filing period

29-10-2026 today31-03-2027 year end31-10-2027 deadline

No strike-offs in the KBO publications

Searched since 2021.

KBO publications · our coverage

30-09-2026 Annual accounts filedfinancial year 2026 · full…
31-03-2026 Highest result from 2019 to 2026net €333,878 ▲113%
08-09-2025 Reappointments: Lars Voordeckers (director) and RIGGIN…Permanent representative: Erik Verkest ·…

Key points

Positive: Result rose in 2026different schema filed ▲ 113% View
Positive: Among the best 14% on solvencysector median 39.9% · 145 companies 84.3% View
Positive: Filed on time since financial year 2019accounts within the deadline every year 8 years View
Positive: 8 profitable years in a rowprofit 2026: €333,878, mostly one-off 8 years View
Controlled by RIGGINultimately: Riggin NV 100% View

By topic

Financials

Financial year: 2026
Total assets: €5.2m
Profit: €333,878
Solvency: 84.3%

Total assets▲ 5.0%

Net result

20192026

Go to Financials

Board & ownership

Board: 2 members
Parent: RIGGIN · 100%
Auditor: Moore Audit

Lars VoordeckersManaging director
RIGGINManaging director

Go to Board & ownership

Network & group

Group: Riggin NV
Connected companies: 2

Go to Network & group

Timeline

Events: 46
Since: 1986
Next accounts: by 31-10-2027

08-09-2025Annual accounts filed
19-09-2024Annual accounts filed
03-06-2024Appointments: Lars Voordeckers (managing director) and RIGGIN…

Go to Timeline

Company details

Sites: 1

Legal form: Public limited company
Activity: Renting and operating of own or leased non-residential…NACE 68203
Founded: 14-02-1985
Year ends: 31-03
Peppol: Reachable for e-invoices

Go to Company details

Articles of association

Provisions read: 7

Annual meeting: First Tuesday of September at 17:00

Go to Articles of association

Key facts about Picas

What is the company number of Picas?: 0428.038.630. In Belgium the VAT number is the company number with BE in front: BE 0428.038.630.
Where is Picas based?: The registered office is at Matenstraat 208, 2845 Niel.Company details
What does Picas do?: According to the KBO register, the main activity is renting and operating of own or leased non-residential real estate, excluding land (NACE 68203).
What is the legal form of Picas?: Public limited company (NV).
When was Picas founded?: On 14-02-1985.
Is Picas still active?: Yes, Picas is an active enterprise in the KBO register.
What is the turnover of Picas?: Not stated in the processed annual accounts. The abridged format for small companies does not require turnover.Financials
Is Picas profitable?: In financial year 2026, Picas made a profit of €333,878.
Where can I find the annual accounts of Picas?: Picas filed 41 annual accounts with the National Bank of Belgium, the latest for financial year 2026.
When are the next annual accounts of Picas due?: By 31-10-2027, for financial year 2027.Timeline