PICASSART
ActiveThe computed 12-month bankruptcy probability of PICASSART is 1.7% (moderate). The 2025 annual accounts show negative equity (€-25k) and a net result of €-135k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 14% of 18237 sector peers (fiscal year 2025). The company has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
21
/ 100
Critical
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0▼-9
Solvency0▼-86
Growth32▼-20
Track record100
Bankruptcy probability, 12 months
1.7%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.39 against 1.79 in 2024; short-term debt: 91.4% and cash: 1.3% of total assets), and equity is negative.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-38.6%
Return on assets
-207.1%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Sector 47
higher
← fewer bankruptcies
more bankruptcies →
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €-25k
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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 · 8 filingsDeviation from the deadline
2025
31 d late
2024
26 d late
2023
23 d early
2022
16 d late
2021
13 d early
2020
110 d early
2019
28 d early
← 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, micro schema
Equity
€-25k
2024 · €110k
2018: €353
2019: €-22k
2020: €-33k
2021: €46k
2022: €35k
2023: €23k
2024: €110k
2018 → 2025
Total assets
€65k▼ 63.9%
2024 · €180k
2018: €81k
2019: €88k
2020: €65k
2021: €58k
2022: €47k
2023: €25k
2024: €180k
2018 → 2025
Net result
€-135k▼ 875%
2024 · €-14k
2018: €-6k
2019: €-22k
2020: €-11k
2021: €79k
2022: €-11k
2023: €-12k
2024: €-14k
2018 → 2025
Working capital
€-36k
2024 · €56k
2018: €-21k
2019: €-46k
2020: €-51k
2021: €34k
2022: €29k
2023: €23k
2024: €56k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€46k-€35k▼ 23.5%€23k▼ 33.9%€110k▲ 368%€-25k
Operating result€94k-€-11k€-12k▼ 11.8%€-13k▼ 9.6%€-132k▼ 914%
Net result€79k-€-11k€-12k▼ 10.6%€-14k▼ 15.2%€-135k▼ 875%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €132k in 2025 against €13k in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €65k
Fixed assets
€42k▼ 17.5%
Current assets
€23k▼ 81.6%
Key figures and ratios
EBITDA
€-118k▼
2024 · €-12k
Cash flow
€-121k▼
2024 · €-13k
Solvency
-38.6%▼
2024 · 60.8%
Current ratio
0.39▼
2024 · 1.79
Quick ratio
0.20▼
2024 · 1.63
Debt / equity
-3.59▼
2024 · 0.64
ROA
-207.1%▼
2024 · -7.7%
Interest coverage
-37.28▼
2024 · -13.89
Debt
€90k▲
2024 · €71k
Debt ≤ 1 year
€59k▼
2024 · €71k
Debt > 1 year
€30k
Staff costs
€48k
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€180k€65k▼
Formation expenses20€3k€0▼
Fixed assets21/28€51k€42k▼
Intangible fixed assets21€49k€39k▼
Tangible fixed assets22/27€1k€2k▲
Furniture and vehicles24€1k€2k▲
Financial fixed assets28-€210
Current assets29/58€126k€23k▼
Stocks and contracts in progress3€11k€11k=
Stocks30/36€11k€11k=
Amounts receivable within one year40/41€114k€11k▼
Trade receivables40€95€1k▲
Other amounts receivable41€114k€10k▼
Cash at bank and in hand54/58€644€871▲
Deferred charges and accrued income490/1€622€0▼
Equity and liabilities
Total equity and liabilities10/49€180k€65k▼
Equity10/15€110k€-25k▼
Contributions10/11€106k€106k=
Profit (loss) carried forward14€3k€-131k▼
Amounts payable17/49€71k€90k▲
Amounts payable after more than one year17-€30k
Financial debts170/4-€30k
Amounts payable within one year42/48€71k€59k▼
Current portion of amounts payable after more than one year42-€15k
Trade debts44€60k€4k▼
Suppliers440/4€60k€4k▼
Taxes, remuneration and social security45€114€16k▲
Taxes450/3€114€3k▲
Remuneration and social security454/9-€13k
Other amounts payable47/48€10k€24k▲
Accrued charges and deferred income492/3-€510
Income statement
Code20242025
Remuneration, social security and pensions62-€48k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1k€14k▲
Other operating charges640/8€975€711▼
Gross operating margin9900€-11k€-68k▼
Operating profit (loss)9901€-13k€-132k▼
Financial charges65/66B€840€3k▲
Recurring financial charges65€840€3k▲
Profit (loss) for the period before taxes9903€-14k€-135k▼
Profit (loss) for the period9904€-14k€-135k▼
Profit (loss) for the period to be appropriated9905€-14k€-135k▼
Appropriation of the result
Profit (loss) to be appropriated9906€3k€-131k▼
Profit (loss) brought forward from the previous period14P€17k€3k▼
The notes to these accounts (15 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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
31-12
Financial
Weakest financial yearnet €-135k
Net result drops to €-135k, the lowest in the series.
26-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 26 days late
2024
31-12
Financial
Equity above €100kEq €110k ▲368%
Equity rises from €23k to €110k.
08-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Liquidity quadruplescurrent ratio 14.54
Current ratio from 3.58 to 14.54; short-term debt falls from €11k to €2k.
16-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 16 days late
2022
18-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €79k
Net result €79k after 3 loss-making years.
31-12
Financial
Liquidity times 8current ratio 4.02
Current ratio from 0.48 to 4.02; short-term debt falls from €97k to €11k.
12-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
03-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
06-12
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 128 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
no sitting director, no change since 2021
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
09-04-2021
Resigned as Director
Location & real-estate footprint
Registered office, Namur · 1 establishment unit since 2017
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.
Chaussée de Waterloo 535000 NamurGround area
496 m²
Building footprint
219 m²
Volume, LiDAR
2,405 m³
2 parcels, Wallonia · tallest building 13.0 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
PICASSART SPRL
since 20172.268.774.570
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92094A0130/00R000 | Wallonia | 326 m² | 1 · 144 m² | 12.2 m · 4 fl. |
| 92108B0377/00W020 | Wallonia | 169 m² | 1 · 75 m² | 13.0 m · 4 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
COSMOS GROUP
BE 0890.614.507
Peer · Eq €110k
TMCO.BE
BE 0878.622.139
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BRIANTO
BE 0477.323.637
Lille · Eq €110k
IR.MA conceptstore
BE 0775.404.538
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SUPRA BAZAR HULSTE
BE 0862.195.485
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Of 12,959 companies in sector 47120 we hold annual accounts for 2,190. 1,494 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded06-06-2017
Fiscal year end31-12
Activities, NACEBEL
47120Other non-specialised retail sale
47910Retail trade
62100Computer programming
Sources
Crossroads Bank for EnterprisesNational Bank · 8 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.