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PICCASO

Active
Iepersestraat 81 ·8530 Harelbeke, Belgium
KBO/BCE: BE 0791.764.676
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Belgian State Gazette acts: 0 of 1 read
Age3 yrs
Real estate2 parcels · 538 m²

Summary

Conclusion

the dossier summarised in one paragraph

The computed 12-month bankruptcy probability of PICCASO is 5.8% (elevated). The 2025 annual accounts show equity of €93k and a net result of €31k. Equity is growing by ~44.4% per year across the filed fiscal years. Its solvency ranks better than 84% of 5650 sector peers (fiscal year 2024). The company has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 3 annual accounts.

Bankruptcy probability (12 mo)

Checked model v1 · free for everyone
5.8% Elevated
0%0,5%1,5%4%10%≥25%
Higher-failure-rate sector +Young company +Multiple establishment units +

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Signals

2 signals · with evidence
Strong solvency vs sector
Solvency is in the sector's strongest quartile: better than 84% of 5650 peers (2024). A comfortable equity buffer.
View the sector comparison
Consistently profitable
Positive net result in the two most recent financial years (2023 and 2024).
View the result trend

Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.

Filing behaviour

From the deposit records, complete market-wide
Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-08-2026, 30 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.
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.
How we compute the deadline
The year end is derived from 3 filed financial years, each closing on 31-12. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 31-12-2025, that is 31-07-2026.
Deadline per financial year
Year closed Due by Filed Variance Reference
31-12-2025 31-07-2026 30-08-2026 30 d late 2026-00455233
31-12-2024 31-07-2025 30-08-2025 30 d late 2025-00456257
31-12-2023 31-07-2024 30-08-2024 30 d late 2024-00418942

Source: the National Bank's deposit records, as we have ingested them. NOTE: our copy has a gap across June to August 2026, missing roughly 220,000 deposits; for July we hold 15,605 of about 137,000 expected. A year whose deadline falls in that window shows as not confirmed, not as not filed. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.

Trust signals

2 signals
More than 3 years active
Founded in 2022, past the statistically most fragile first 3 years.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Financials

TurnoverNot published (micro schema)
EBIT marginNot published (micro schema)
Net result€31k+32.5%
Working capital€73k+86.2%

Annual accounts & ratios

Source: NBB · 2025
Annual accounts filed on 30-08-2026 with the NBB · fiscal year 2025 · micro
€0€20k€40kOperating result 2023: €49k€49kNet result 2023: €35k€35kOperating result 2024: €34k€34kNet result 2024: €23k€23kOperating result 2025: €43k€43kNet result 2025: €31k€31k202320242025
Operating resultNet result
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
declining Net result: declining trend of ~6.9%/year over 3 fiscal years, indicative, assuming unchanged policy.
€20k€25k€30k€35k2026: €29k (€26k - €31k)2027: €27k (€24k - €29k)2028: €25k (€22k - €27k)2023: €35k2024: €23k2025: €31k202320242025202620272028
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison
Fiscal year 2024 · NACE 56, Food & beverage service · compared within the same schema type (micro schema)
Metric This company Sector median Position in the sector
Solvency 59.2% 19.3%
better than 84% of 5650 sector peers
Net result €23k €4k
better than 77% of 5638 sector peers
Equity €61k €14k
better than 80% of 5662 sector peers
Gross operating margin €100k €52k
better than 68% of 5624 sector peers
Staff costs €59k €49k
higher than 55% of 4088 sector peers
Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.
EBITDA
€50k
+30.6% 23-25
Net profit
€31k
+32.5% 23-25
Cash flow
€38k
+35.7% 23-25
Total assets
€137k
+32.1% 23-25
Equity
€93k
+50.7% 23-25
Working capital
€73k
+86.2% 23-25
Employees (FTE)
2
0.0% 23-25
Staff costs
€63k
+7.4% 23-25
Show 10 other metrics
Income taxes
€9k
+28.8% 23-25
Debt
€45k
+5.3% 23-25
Debt ≤ 1y
€43k
+5.7% 23-25
Current ratio
2.69
+37.3% 23-25
Quick ratio
2.63
+38.7% 23-25
Solvency
67.5%
+14.0% 23-25
Debt / equity
0.48
-30.1% 23-25
ROE
33.6%
-12.0% 23-25
ROA
22.7%
+0.3% 23-25
Interest coverage
13.78
+28.3% 23-25
Figures by fiscal year
Fiscal year2025
Depositmicro
Revenue-
EBITDA€50k
Net profit€31k
Cash flow€38k
Staff costs€63k
Income taxes€9k
Dividends-
Total assets€137k
Equity€93k
Debt€45k
of which ≤ 1y€43k
of which > 1y-
Working capital€73k
Employees (FTE)2.0
Ratios (computed)
2025
Current ratio2.69
Quick ratio2.63
Working capital ratio53.2%
Solvency67.5%
Debt / equity0.48
Long-term debt ratio-
Interest coverage13.78
Gross margin-
Net margin-
ROA22.7%
ROE33.6%
EBITDA margin-
Days sales outstanding-
Days payable outstanding-
Inventory turnover-
Days inventory (DSI)-
Balance-sheet composition 2025
Full annual accounts (23 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
Line item Code2025
Balance sheet, Assets
TOTAL ASSETS 20/58€137k
Fixed assets 21/28€21k
Intangible fixed assets 21€6k
Tangible fixed assets 22/27€15k
Current assets 29/58€116k
Stocks & contracts in progress 3€3k
Amounts receivable within one year 40/41€11k
Cash & bank 54/58€100k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES 10/49€137k
Equity 10/15€93k
Contributions / capital 10/11€3k
Reserves 13€90k
Amounts payable 17/49€45k
Amounts payable within one year 42/48€43k
Trade debts payable within one year 44€22k
Income statement
Gross operating margin 9900€116k
Operating result 9901€43k
Financial income 75€339
Financial charges 65€4k
Result before taxes 9903€40k
Income taxes 67/77€9k
Net result for the period 9904€31k
Result to be appropriated 9905€31k
This table shows the latest fiscal year. 2 prior years, with figures and ratios, belong to a paid plan. See plans →
Ratios computed by Checked.

Health barometer

FY 2025 · computed
100 / 100 Excellent
050100
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.

See plans →
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.

Structure & network

Locations & real estate

Registered office

on the map · from the address register
exact location from the address register On OpenStreetMap

Establishment units

2 locations
PICCASO
Iepersestraat 81, 8530 HarelbekeGastenkamers
since 20222.336.526.496
Nederstraat 50, 9700 Oudenaarde
Verkoop aan de toog of via telefoon, fax, internet van eetwaren en dranken : snelbuffetten (snackbars, sandwichbars, enz)
since 20222.337.138.784
Physical sites registered in the Crossroads Bank for Enterprises (CBE).
Parcels2
Ground area538 m²
Buildings2
Building footprint191 m²
Volume (LiDAR)1,243 m³
Tallest building12.5 m · ±3 fl.

Real-estate footprint

Source: CBE × cadastre · address linking

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Flanders 2 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
34322C0145/00L000 Flanders 488 m² 1 · 122 m² 10.6 m · 2 fl.
45035B0245/00C000
ProtectedTownscape or village viewStadskern OudenaardeSource ↗
 Flanders 50 m² 1 · 70 m² 12.5 m · 3 fl.
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.
1 of these parcels carry protected heritage (source: regional heritage registers, Onroerend Erfgoed / patrimoine.brussels).

Publications

Lifecycle & Insolvency Signals

No insolvency signals in the Belgian State Gazette

Belgian State Gazette · acts

0 of 1 acts read

We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.

Have them read with priority Sign in to place this company at the front of the reading queue.

The insolvency signals above come from a separate source; the KBO register is the second source and appears as the legal situation on this page.

Analysis

Financial profile

5 of 5 axes measured
Health100Profitability100Solvency100Growth52Stability94
89 / 100

Exceptional profile, strong across almost every axis.

All 5 axes are computed from data Checked has read.

Health 100
Profitability 100
Solvency 100
Growth 52
Stability 94

Credit advice

verdict per customer and amount

May this customer buy amount X on invoice? Enter the amount and the payment term. This page computes a GREEN, AMBER or RED verdict from them, with a suggested ceiling and concrete conditions.

Based on official sources (NBB, CBE, State Gazette). Indicative, not credit advice.

Similar

Similar companies

Comparable size, same sector
We hold annual accounts for 2,997 of the 21,821 companies in this sector. 2,406 of them are within a factor 10 of this company's equity.

Company registry

Company registry (CBE)

Crossroads Bank
Activities
Eetgelegenheden met beperkte bediening56102Activiteiten van eetgelegenheden met beperkte bediening, muv mobiele eetgelegenheden56112Activiteiten van grafische designers74103Grafisch ontwerp en visuele communicatie74120
Primary activity highlighted.
Names & trade names
Legal nameNL PICCASO
Registered office
Iepersestraat 81
8530 Harelbeke, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.