Picas
ActivePicas has been active since 1985 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €4.06M and a net result of €156k. Equity remains stable across the filed fiscal years (±0.1% per year). Its solvency ranks better than 86% of 9095 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
81
/ 100
Excellent▼ -8 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability19▼-6
Solvency88▲+9
Growth78=
Stability100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €330k at 30 days acceptable
Liquidity tight (current ratio 1.48 against 1.04 in 2024), and 18.2% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Sector 68
lower
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
81.8%
Return on assets
3.2%
Age of the figures
17 mo
lowers risk · Growing equity
Equity grew over 2023-2025. Profits are largely retained rather than distributed.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year €4.1M
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 08-09-2025, 53 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
53 d early
2024
42 d early
2023
33 d early
2022
28 d early
2021
33 d early
2020
47 d early
2019
113 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close13-09-2026 today31-10-2026 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€4.06M▲ 5.2%
2024 · €3.86M
2019: €3.84M
2020: €3.95M
2021: €3.73M
2022: €3.68M
2023: €3.67M
2024: €3.86M
2019 → 2025
Total assets
€4.97M▼ 4.1%
2024 · €5.18M
2019: €5.46M
2020: €5.90M
2021: €5.95M
2022: €5.52M
2023: €5.36M
2024: €5.18M
2019 → 2025
Net result
€156k▼ 18.5%
2024 · €192k
2019: €77k
2020: €107k
2021: €181k
2022: €266k
2023: €185k
2024: €192k
2019 → 2025
Working capital
€142k▲ 603%
2024 · €20k
2019: €1.36M
2020: €-140k
2021: €-256k
2022: €-98k
2023: €-215k
2024: €20k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€3.73M-€3.68M▼ 1.1%€3.67M▼ 0.4%€3.86M▲ 5.2%€4.06M▲ 5.2%
Operating result€259k-€379k▲ 46.0%€273k▼ 27.8%€280k▲ 2.4%€217k▼ 22.4%
Net result€181k-€266k▲ 47.1%€185k▼ 30.4%€192k▲ 3.8%€156k▼ 18.5%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 22% below 2024 and is the lowest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.97M
Fixed assets
€4.53M▼ 2.3%
Current assets
€440k▼ 19.3%
Equity and liabilities €4.97M
Equity
€4.06M▲ 5.2%
Provisions
€230k▼ 18.6%
Debt
€675k▼ 34.7%
The debt ratio falls from 20.0% to 13.6%: equity grows while debt is paid down.
Key figures and ratios
EBITDA
€392k▼
2024 · €447k
Cash flow
€332k▼
2024 · €359k
Solvency
81.8%▲
2024 · 74.6%
Current ratio
1.48▲
2024 · 1.04
Quick ratio
1.48▲
2024 · 1.04
Debt / equity
0.17▼
2024 · 0.27
ROE
3.9%▼
2024 · 5.0%
ROA
3.2%▼
2024 · 3.7%
Interest coverage
49.28▲
2024 · 44.23
Debt
€675k▼
2024 · €1.03M
Debt ≤ 1 year
€298k▼
2024 · €525k
Debt > 1 year
€306k▼
2024 · €417k
Income taxes
€62k▼
2024 · €88k
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€5.18M€4.97M▼
Fixed assets21/28€4.63M€4.53M▼
Tangible fixed assets22/27€4.63M€4.53M▼
Other tangible fixed assets26€4.63M€4.53M▼
Current assets29/58€546k€440k▼
Amounts receivable within one year40/41€85k€60k▼
Trade receivables40€85k€59k▼
Other amounts receivable41-€2k
Cash at bank and in hand54/58€460k€380k▼
Equity and liabilities
Total equity and liabilities10/49€5.18M€4.97M▼
Equity10/15€3.86M€4.06M▲
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Revaluation surpluses12€1.11M€1.07M▼
Reserves13€2.69M€2.93M▲
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Tax-exempt reserves132€672k€689k▲
Distributable reserves133€2.01M€2.24M▲
Provisions and deferred taxes16€282k€230k▼
Deferred taxes168€282k€230k▼
Amounts payable17/49€1.03M€675k▼
Amounts payable after more than one year17€417k€306k▼
Financial debts170/4€415k€305k▼
Other amounts payable178/9€2k€2k=
Amounts payable within one year42/48€525k€298k▼
Current portion of amounts payable after more than one year42€109k€110k▲
Trade debts44€397k€186k▼
Suppliers440/4€397k€186k▼
Taxes, remuneration and social security45€20k€2k▼
Taxes450/3€20k€2k▼
Accrued charges and deferred income492/3€91k€71k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€167k€175k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€12k
Other operating charges640/8€63k€78k▲
Gross operating margin9900€511k€482k▼
Operating profit (loss)9901€280k€217k▼
Financial charges65/66B€10k€8k▼
Recurring financial charges65€10k€8k▼
Profit (loss) for the period before taxes9903€270k€209k▼
Transfer from deferred taxes780€10k€9k▼
Income taxes67/77€88k€62k▼
Profit (loss) for the period9904€192k€156k▼
Transfer from tax-exempt reserves789€25k€26k▲
Profit (loss) for the period to be appropriated9905€217k€183k▼
Appropriation of the result
Profit (loss) to be appropriated9906€217k€183k▼
Transfer to equity691/2€217k€183k▼
To other reserves6921€217k€183k▼
The notes to these accounts (13 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
2025
08-09
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2024
19-09
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2023
28-09
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2022
03-10
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
31-03
Financial
Highest result since 2019net €266k ▲47.1%
Operating result €379k, net result €266k, both a record.
2021
28-09
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2020
14-09
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2019
10-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2018
11-09
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
18-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2016
29-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
3 directors, no change since 2024
Lars Voordeckers
CurrentDirector · since 28-03-2024
RIGGIN NV
CurrentDirector · since 28-03-2024 · Legal entity · perm. rep.: Erik Verkest
28-03-2024
Lars Voordeckers: Appointed as Director
28-03-2024
RIGGIN NV: Appointed as Director
28-03-2024
Dino Naegels: Resigned as Director
Location & real-estate footprint
Registered office, Niel · 1 establishment unit since 1985
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.
Matenstraat 2082845 NielGround area
2.2 ha
Building footprint
352 m²
Volume, LiDAR
1,478 m³
Parcel 11030C0058/00X002, Flanders · tallest building 9.1 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Matenstraat 208, 2845 Niel
since 19852.072.920.682
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11030C0058/00X002 | Flanders | 2.2 ha | 1 · 352 m² | 9.1 m · 1 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.
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PERDAEN
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Of 11,974 companies in sector 68203 we hold annual accounts for 5,947. 2,886 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded14-02-1985
Fiscal year end31-03
Activities, NACEBEL
68203Renting and operating of own or leased non-residential real estate, excluding land
68201Renting and operating of own or leased residential real estate, excluding social housing
Sources
Crossroads Bank for EnterprisesNational Bank · 40 filingsAddress and cadastre registers
Data from official sources, last processed on 13-09-2026. Scores and ratios are computed by Checked and are not a credit decision.