PICCARD ENGINEERING
ActiveSummary
PICCARD ENGINEERING has been active since 2009 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €234,648 and a net result of €3,606. Equity is growing by about 19% per year across the filed financial years. Its solvency ranks better than 63% of 2,544 sector peers (NACE 71, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Financials · financial year 2025, abbreviated format
Equity
€234,648▼ 11.3%
2024 · €264,527
Total assets
€399,481▼ 3.9%
2024 · €415,694
Net result
€3,606▼ 91.4%
2024 · €41,710
Working capital
-€17,885
2024 · €15,351
Trend over the years
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result turns negative in 2025: a loss of €50 after €3,076 in 2024, the lowest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result-€50
2025
Net result€3,606
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€399,481
2025
Equity€234,648
2025
Debt€164,833
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€17,885
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)0.9%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency58.7%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio0.79
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 71, Architectural and engineering activities; technical testing and analysis: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€13,979-€58,906▲ 321%€70,615▲ 19.9%€32,103▼ 54.5%€16,044▼ 50.0%€3,076▼ 80.8%-€50
Net result€10,492-€45,724above the sector's middle half▲ 336%€62,901within the sector's middle half▲ 37.6%€40,983within the sector's middle half▼ 34.8%€36,086within the sector's middle half▼ 11.9%€41,710within the sector's middle half▲ 15.6%€3,606within the sector's middle half▼ 91.4%
Equity€72,750-€118,474within the sector's middle half▲ 62.9%€181,375within the sector's middle half▲ 53.1%€186,732within the sector's middle half▲ 3.0%€222,817within the sector's middle half▲ 19.3%€264,527within the sector's middle half▲ 18.7%€234,648within the sector's middle half▼ 11.3%
Total assets€154,451-€232,454within the sector's middle half▲ 50.5%€472,869within the sector's middle half▲ 103%€488,479within the sector's middle half▲ 3.3%€440,514within the sector's middle half▼ 9.8%€415,694within the sector's middle half▼ 5.6%€399,481within the sector's middle half▼ 3.9%
Debt€81,701-€113,980▲ 39.5%€291,494▲ 156%€301,747▲ 3.5%€217,696▼ 27.9%€151,167▼ 30.6%€164,833▲ 9.0%
Working capital€52,761-€58,354within the sector's middle half▲ 10.6%€56,972within the sector's middle half▼ 2.4%€3,326below the sector's middle half▼ 94.2%€8,458below the sector's middle half▲ 154%€15,351within the sector's middle half▲ 81.5%-€17,885below the sector's middle half
Solvency47.1%-51.0%within the sector's middle half▲ 3.9pp38.4%within the sector's middle half▼ 12.6pp38.2%within the sector's middle half▼ 0.1pp50.6%within the sector's middle half▲ 12.4pp63.6%within the sector's middle half▲ 13.1pp58.7%within the sector's middle half▼ 4.9pp
Current ratio1.70-1.69within the sector's middle half▼ 0.011.63within the sector's middle half▼ 0.061.03below the sector's middle half▼ 0.601.13within the sector's middle half▲ 0.101.30within the sector's middle half▲ 0.160.79below the sector's middle half▼ 0.50
Return on assets (ROA)6.8%-19.7%within the sector's middle half▲ 12.9pp13.3%within the sector's middle half▼ 6.4pp8.4%within the sector's middle half▼ 4.9pp8.2%within the sector's middle half▼ 0.2pp10.0%within the sector's middle half▲ 1.8pp0.9%within the sector's middle half▼ 9.1pp
Staff (FTE)0below the sector's middle half
above
within
below
the middle half of NACE 71, Architectural and engineering activities; technical testing and analysis: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin not published: the abbreviated or micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €399,481
Fixed assets
€330,931 ▼ 5.1%
Current assets
€68,550 ▲ 2.4%
Equity and liabilities €399,481
Equity
€234,648 ▼ 11.3%
Debt
€164,833 ▲ 9.0%
Debt's share of the balance-sheet total rises from 36.4% to 41.3%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€25,688▼
2024 · €28,414
Cash flow
€29,343▼
2024 · €67,048
Debt to equity
0.70▲
2024 · 0.57
ROE
1.5%▼
2024 · 15.8%
Interest coverage
6.82▲
2024 · 5.45
Debt ≤ 1 year
€86,435▲
2024 · €51,620
Debt > 1 year
€76,118▼
2024 · €98,019
Income taxes
€2,595▼
2024 · €6,379
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €5,902 | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,310 | €4,532 | €7,516 | €14,964 | €25,794 | €25,338 | €25,737 | ▲ 1.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €297 | - | - | - | - |
| Other operating charges640/8 | - | - | €1,339 | €2,202 | €3,357 | €2,419 | €1,557 | ▼ 35.6% |
| Gross operating margin9900 | €20,672 | €64,897 | €79,470 | €49,566 | €45,195 | €30,833 | €27,244 | ▼ 11.6% |
| Operating profit (loss)9901 | €13,979 | €58,906 | €70,615 | €32,103 | €16,044 | €3,076 | -€50 | - |
| Financial income75/76B | - | - | €20,000 | €25,005 | €35,199 | €50,226 | €10,017 | ▼ 80.1% |
| Recurring financial income75 | - | €5,496 | €20,000 | €25,005 | €35,199 | €50,226 | €10,017 | ▼ 80.1% |
| Financial charges65/66B | - | - | €2,056 | €2,448 | €5,231 | €5,213 | €3,767 | ▼ 27.7% |
| Recurring financial charges65 | €950 | €1,602 | €2,056 | €2,448 | €5,231 | €5,213 | €3,767 | ▼ 27.7% |
| Profit (loss) for the period before taxes9903 | €13,029 | €62,800 | €88,559 | €54,660 | €46,013 | €48,089 | €6,201 | ▼ 87.1% |
| Income taxes67/77 | €2,538 | €17,076 | €25,658 | €13,677 | €9,928 | €6,379 | €2,595 | ▼ 59.3% |
| Profit (loss) for the period9904 | €10,492 | €45,724 | €62,901 | €40,983 | €36,086 | €41,710 | €3,606 | ▼ 91.4% |
| Profit (loss) for the period to be appropriated9905 | €10,492 | €45,724 | €62,901 | €40,983 | €36,086 | €41,710 | €3,606 | ▼ 91.4% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €154,451 | €232,454 | €472,869 | €488,479 | €440,514 | €415,694 | €399,481 | ▼ 3.9% |
| Fixed assets21/28 | €26,463 | €89,569 | €326,012 | €377,887 | €368,233 | €348,723 | €330,931 | ▼ 5.1% |
| Tangible fixed assets22/27 | €11,463 | €30,819 | €52,262 | €104,137 | €86,983 | €67,473 | €49,681 | ▼ 26.4% |
| Land and buildings22 | - | - | €4,754 | €3,431 | €2,107 | €784 | €0 | ▼ 100% |
| Plant, machinery and equipment23 | - | - | €10,063 | €9,430 | €8,712 | €11,243 | €7,298 | ▼ 35.1% |
| Furniture and vehicles24 | - | - | €37,445 | €91,276 | €76,164 | €55,446 | €42,383 | ▼ 23.6% |
| Financial fixed assets28 | €15,000 | €58,750 | €273,750 | €273,750 | €281,250 | €281,250 | €281,250 | = |
| Current assets29/58 | €127,988 | €142,885 | €146,857 | €110,592 | €72,281 | €66,971 | €68,550 | ▲ 2.4% |
| Amounts receivable within one year40/41 | €64,249 | €62,149 | €77,204 | €58,750 | €50,178 | €27,297 | €26,256 | ▼ 3.8% |
| Trade receivables40 | - | - | €76,972 | €58,750 | €50,105 | €18,415 | €25,607 | ▲ 39.1% |
| Other amounts receivable41 | - | - | €232 | - | €72 | €8,882 | €650 | ▼ 92.7% |
| Cash at bank and in hand54/58 | €59,541 | €76,447 | €68,689 | €47,471 | €18,444 | €37,134 | €38,364 | ▲ 3.3% |
| Deferred charges and accrued income490/1 | - | - | €964 | €4,371 | €3,659 | €2,539 | €3,929 | ▲ 54.7% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €154,451 | €232,454 | €472,869 | €488,479 | €440,514 | €415,694 | €399,481 | ▼ 3.9% |
| Equity10/15 | €72,750 | €118,474 | €181,375 | €186,732 | €222,817 | €264,527 | €234,648 | ▼ 11.3% |
| Contributions10/11 | €6,200 | - | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €78,789 | €112,274 | €175,175 | €180,532 | €216,617 | €258,327 | €228,448 | ▼ 11.6% |
| Distributable reserves133 | - | - | €175,175 | €180,532 | €216,617 | €258,327 | €228,448 | ▼ 11.6% |
| Profit (loss) carried forward14 | -€12,239 | -€22,731 | - | - | - | - | €0 | - |
| Amounts payable17/49 | €81,701 | €113,980 | €291,494 | €301,747 | €217,696 | €151,167 | €164,833 | ▲ 9.0% |
| Amounts payable after more than one year17 | €6,474 | €29,449 | €201,608 | €194,481 | €152,714 | €98,019 | €76,118 | ▼ 22.3% |
| Financial debts170/4 | - | - | €201,608 | €194,481 | €152,714 | €98,019 | €76,118 | ▼ 22.3% |
| Amounts payable within one year42/48 | €75,227 | €84,531 | €89,886 | €107,266 | €63,822 | €51,620 | €86,435 | ▲ 67.4% |
| Current portion of amounts payable after more than one year42 | - | - | €23,236 | €31,778 | €28,567 | €21,495 | €21,901 | ▲ 1.9% |
| Financial debts43 | - | - | €2,196 | €10,573 | €10,999 | €10,864 | €920 | ▼ 91.5% |
| Credit institutions430/8 | - | - | €2,196 | €10,573 | €10,999 | €10,864 | €920 | ▼ 91.5% |
| Trade debts44 | €23,814 | €20,175 | €16,074 | €14,780 | €999 | €211 | €2,583 | ▲ 12× |
| Suppliers440/4 | - | - | €16,074 | €14,780 | €999 | €211 | €2,583 | ▲ 12× |
| Taxes, remuneration and social security45 | - | - | €33,273 | €9,548 | €20,557 | €10,880 | €14,949 | ▲ 37.4% |
| Taxes450/3 | - | - | €33,273 | €9,548 | €20,557 | €10,880 | €14,949 | ▲ 37.4% |
| Other amounts payable47/48 | - | - | €15,106 | €40,588 | €2,700 | €8,171 | €46,081 | ▲ 464% |
| Accrued charges and deferred income492/3 | - | - | - | - | €1,160 | €1,527 | €2,280 | ▲ 49.3% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €10,492 | €45,724 | €62,901 | €40,983 | €36,086 | €41,710 | €3,606 | ▼ 91.4% |
| + Depreciation and write-downs630 | €3,310 | €4,532 | €7,516 | €14,964 | €25,794 | €25,338 | €25,737 | ▲ 1.6% |
| Operating cash flow (approximation) | €13,801 | €50,257 | €70,417 | €55,947 | €61,879 | €67,048 | €29,343 | ▼ 56.2% |
| Investment in fixed assets (approximation) | - | -€67,638 | -€243,959 | -€66,840 | -€16,139 | -€5,829 | -€7,945 | ▼ 36.3% |
| Change in cash | - | €16,906 | -€7,758 | -€21,218 | -€29,027 | €18,691 | €1,230 | ▼ 93.4% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 16 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 30-09-2025 | abbreviated format | 29-04-2026 | 2026-00092758 |
| 30-09-2024 | abbreviated format | 29-04-2025 | 2025-00079608 |
| 30-09-2023 | abbreviated format | 26-04-2024 | 2024-00070108 |
| 30-09-2022 | abbreviated format | 10-05-2023 | 2023-00084337 |
| 30-09-2021 | abbreviated format | 28-04-2022 | 2022-20014464 |
| 30-09-2020 | micro format | 27-04-2021 | 2021-12100319 |
| 30-09-2019 | micro format | 29-04-2020 | 2020-10600175 |
| 30-09-2018 | micro format | 23-04-2019 | 2019-10500240 |
| 30-09-2017 | micro format | 25-05-2018 | 2018-14000571 |
| 30-09-2016 | abbreviated format | 27-04-2017 | 2017-10600301 |
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Of the 11,520 active companies whose main activity is engineering and related technical consultancy, excluding land surveyors (NACE 71121), figures are known for 6,711. 5,129 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Subsidies and aid
Flemish government
2025 · 1 entry · €553 awarded · €553 paidPublic contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.