PICLA

Active

Private limited companyfounded 200521 yrs activeBroekweg 12W, 1601 Sint-Pieters-Leeuw, BelgiumKBO/BCE: BE 0874.500.629

Summary

PICLA has been active since 2005 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €383,200 and a net result of €46,315. Equity is growing by ~16.2% per year across the filed fiscal years. Its solvency ranks better than 73% of 28184 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).

Risk analysis Watch Report Compare

PICLAActiveChecked score 84/100

Risk analysis Report Compare

Checked score

Score 2025

84 / 100

Excellent

Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability79▲+4

Solvency93▲+1

Growth78▲+26

Track record100

Bankruptcy probability, 12 months

0.7% Low

0%0.5%1.5%4%10%≥ 25%

Credit up to €30,000 at 30 days acceptable

Liquidity ample (current ratio 3.23 against 3.29 in 2024; short-term debt: 30.5% and cash: 39% of total assets), and 32.1% of the assets are financed with debt.

Credit check for your own amount and term

Show the recommended maximum : and see how the verdict changes with amount, term and advance.

Signals

Four signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Higher-failure-rate sector

In this sector companies fail more often than the Belgian average.

Gazette · bankruptcies per sector, NACE 43

Relative position

BE, all sectors

reference

Specialised construction activities (NACE 43)

about 85% more bankruptcies

← fewer bankruptcies more bankruptcies →

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

Annual accounts: healthy financial profile

The latest annual accounts show a healthy profile in solvency, result and liquidity.

NBB · annual accounts 2025

Solvency, return and age of the figures

Solvency

67.9%

Return on assets

8.2%

Age of the figures

15 mo

Latest accounts filed on time

The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 02-12-2025, 60 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

60 d early

2024

on the day

2023

1 d early

2022

on the day

2021

113 d late

2020

18 d late

2019

59 d 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 2 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.

Checked, nothing found (2)

The next deadline is still running

The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.

Companies Code · seven months

Position in the running window

30-06-2026 close27-09-2026 today31-01-2027 deadline

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

History

PICLA was incorporated on 16 June 2005.¹ The board currently has 2 members; DUBAERE François has served longest, since 2026.² Total assets rose from EUR 274,202 in 2019 to EUR 564,530 in 2025.³

Go further with this company

How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you trust this company with building work?Contractor check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark

Is this your company? See how customers and banks see it.

Investigating this company? Keep it with today's facts in a case file.

Financials · fiscal year 2025, micro schema

Equity

€383,200▲ 13.7%

2024 · €336,885

Total assets

€564,530▲ 12.0%

2024 · €504,228

Net result

€46,315▲ 71.8%

2024 · €26,966

Working capital

€383,968▲ 11.7%

2024 · €343,640

Trend over the years

Chart Table

Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median.

Every figure with its change against the fiscal year before

favourable unfavourable

Line20212022202320242025

Operating result€123,548▲ 61.0%€70,078▼ 43.3%€33,001▼ 52.9%€43,212▲ 30.9%€72,984▲ 68.9%

Net result€88,224▲ 51.6%€50,328▼ 43.0%€21,508▼ 57.3%€26,966▲ 25.4%€46,315▲ 71.8%

Equity€238,082▲ 58.9%€288,411▲ 21.1%€309,919▲ 7.5%€336,885▲ 8.7%€383,200▲ 13.7%

Total assets€360,525▲ 17.0%€463,186▲ 28.5%€455,462▼ 1.7%€504,228▲ 10.7%€564,530▲ 12.0%

Debt€122,442▼ 22.6%€174,776▲ 42.7%€145,543▼ 16.7%€167,343▲ 15.0%€181,330▲ 8.4%

Working capital€221,828▲ 52.5%€269,621▲ 21.5%€296,718▲ 10.1%€343,640▲ 15.8%€383,968▲ 11.7%

Solvency66.0%▲ 17.4pp62.3%▼ 3.8pp68.0%▲ 5.8pp66.8%▼ 1.2pp67.9%▲ 1.1pp

Staff (FTE)1

above within below the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.

Turnover and EBIT margin not published: the micro schema does not require them.

Result per fiscal year

Operating resultNet result

After the dip in 2023 the operating result has climbed two years in a row; 2025 is 69% above 2024.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €564,530

98.5%

Fixed assets €8,645 ▼ 15.9%

Current assets €555,885 ▲ 12.5%

Equity and liabilities €564,530

67.9%

32.1%

Equity €383,200 ▲ 13.7%

Debt €181,330 ▲ 8.4%

Debt's share of the balance-sheet total falls from 33.2% to 32.1%. Equity and debt are higher.

Key figures and ratios

2025 value · change against 2024

EBITDA

€77,157▲

2024 · €47,154

Cash flow

€50,489▲

2024 · €30,908

Current ratio

3.23▼

2024 · 3.29

Quick ratio

2.38▲

2024 · 2.29

Debt to equity

0.47▼

2024 · 0.50

ROE

12.1%▲

2024 · 8.0%

ROA

8.2%▲

2024 · 5.3%

Interest coverage

8.58▲

2024 · 6.85

Debt ≤ 1 year

€171,916▲

2024 · €150,309

Debt > 1 year

€9,413▼

2024 · €17,034

Income taxes

€17,680▲

2024 · €9,465

Staff costs

€7,152▲

2024 · €6,686

Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 20,082 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95% are still going.

Small
20 years or older
solvency 30% or more
a profit of 5% of the balance sheet or more

0.2% went bankrupt

4.7% stopped otherwise

95% still going

For this company itself Checked computes a higher bankruptcy probability: 0.7% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.

How reliable is this rule?

Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.

The companies in ten equal groups, from lowest to highest expected share.
Group	Expected	Actual
1	0.2%	0.2%
2	0.3%	0.4%
3	0.5%	0.5%
4	0.6%	0.7%
5	0.8%	0.9%
6	1.2%	1.3%
7	1.5%	1.6%
8	1.7%	1.7%
9	2.7%	2.8%
10	5.3%	5.7%

The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.

An observation about 20,082 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.

Annual accounts

OverviewIncome statement Balance sheet Cash flow

Filed annual accounts As filed with the NBB · 2025 against 2024 · 47 lines

Balance sheet Code20242025

Assets

Total assets20/58€504,228€564,530▲

Fixed assets21/28€10,279€8,645▼

Intangible fixed assets21€9,000€6,000▼

Tangible fixed assets22/27€1,279€2,645▲

Furniture and vehicles24€1,279€877▼

Other tangible fixed assets26-€1,769

Current assets29/58€493,949€555,885▲

Stocks and contracts in progress3€149,028€146,710▼

Stocks30/36€149,028€146,710▼

Amounts receivable within one year40/41€151,202€188,175▲

Trade receivables40€151,202€188,175▲

Cash at bank and in hand54/58€193,720€219,998▲

Deferred charges and accrued income490/1-€1,001

Equity and liabilities

Total equity and liabilities10/49€504,228€564,530▲

Equity10/15€336,885€383,200▲

Contributions10/11€18,600€18,600=

Reserves13€1,860€1,860=

Non-distributable reserves130/1€1,860€1,860=

Reserves not available under the articles1311€1,860€1,860=

Profit (loss) carried forward14€316,425€362,740▲

Amounts payable17/49€167,343€181,330▲

Amounts payable after more than one year17€17,034€9,413▼

Financial debts170/4€17,034€9,413▼

Amounts payable within one year42/48€150,309€171,916▲

Current portion of amounts payable after more than one year42€7,229€7,620▲

Trade debts44€84,090€110,356▲

Suppliers440/4€84,090€110,356▲

Taxes, remuneration and social security45€56,989€47,619▼

Taxes450/3€53,083€47,619▼

Remuneration and social security454/9€3,906-

Other amounts payable47/48€2,001€6,321▲

Income statement Code20242025

Remuneration, social security and pensions62€6,686€7,152▲

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€3,942€4,173▲

Other operating charges640/8€1,441€878▼

Non-recurring operating charges66A€15,000€22,240▲

Gross operating margin9900€70,281€107,427▲

Operating profit (loss)9901€43,212€72,984▲

Financial income75/76B€103-

Recurring financial income75€103-

Financial charges65/66B€6,885€8,989▲

Recurring financial charges65€6,885€8,989▲

Profit (loss) for the period before taxes9903€36,431€63,995▲

Income taxes67/77€9,465€17,680▲

Profit (loss) for the period9904€26,966€46,315▲

Profit (loss) for the period to be appropriated9905€26,966€46,315▲

Appropriation of the result

Profit (loss) to be appropriated9906€316,425€362,740▲

Profit (loss) brought forward from the previous period14P€289,459€316,425▲

The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line	2021	2022	2023	2024	2025	Change
Remuneration, social security and pensions62	€15,851	€28,741	€21,211	€6,686	€7,152	▲ 7.0%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630	€6,179	€7,451	€6,371	€3,942	€4,173	▲ 5.9%
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4	-€3,361	-	-	-	-	-
Other operating charges640/8	€4,005	€926	€2,582	€1,441	€878	▼ 39.1%
Non-recurring operating charges66A	-	-	€13,691	€15,000	€22,240	▲ 48.3%
Gross operating margin9900	€146,222	€107,197	€76,857	€70,281	€107,427	▲ 52.9%
Operating profit (loss)9901	€123,548	€70,078	€33,001	€43,212	€72,984	▲ 68.9%
Financial income75/76B	€72	€0	€1	€103	-	-
Recurring financial income75	€72	€0	€1	€103	-	-
Financial charges65/66B	€11,715	€5,965	€6,352	€6,885	€8,989	▲ 30.6%
Recurring financial charges65	€11,715	€5,965	€6,352	€6,885	€8,989	▲ 30.6%
Profit (loss) for the period before taxes9903	€111,905	€64,113	€26,650	€36,431	€63,995	▲ 75.7%
Income taxes67/77	€23,681	€13,785	€5,142	€9,465	€17,680	▲ 86.8%
Profit (loss) for the period9904	€88,224	€50,328	€21,508	€26,966	€46,315	▲ 71.8%
Profit (loss) for the period to be appropriated9905	€88,224	€50,328	€21,508	€26,966	€46,315	▲ 71.8%

Line	2021	2022	2023	2024	2025	Change
Assets
Total assets20/58	€360,525	€463,186	€455,462	€504,228	€564,530	▲ 12.0%
Fixed assets21/28	€25,299	€18,790	€13,201	€10,279	€8,645	▼ 15.9%
Intangible fixed assets21	€18,000	€15,000	€12,000	€9,000	€6,000	▼ 33.3%
Tangible fixed assets22/27	€7,299	€3,790	€1,201	€1,279	€2,645	▲ 107%
Plant, machinery and equipment23	€122	-	-	-	-	-
Furniture and vehicles24	€5,959	€3,280	€1,201	€1,279	€877	▼ 31.4%
Other tangible fixed assets26	€1,218	€510	-	-	€1,769	-
Current assets29/58	€335,225	€444,396	€442,261	€493,949	€555,885	▲ 12.5%
Stocks and contracts in progress3	€76,499	€116,769	€145,178	€149,028	€146,710	▼ 1.6%
Stocks30/36	€76,499	€116,769	€145,178	€149,028	€146,710	▼ 1.6%
Amounts receivable within one year40/41	€99,489	€159,968	€181,277	€151,202	€188,175	▲ 24.5%
Trade receivables40	€99,489	€159,968	€181,277	€151,202	€188,175	▲ 24.5%
Cash at bank and in hand54/58	€159,237	€167,660	€115,806	€193,720	€219,998	▲ 13.6%
Deferred charges and accrued income490/1	-	-	-	-	€1,001	-
Equity and liabilities
Total equity and liabilities10/49	€360,525	€463,186	€455,462	€504,228	€564,530	▲ 12.0%
Equity10/15	€238,082	€288,411	€309,919	€336,885	€383,200	▲ 13.7%
Contributions10/11	€18,600	€18,600	€18,600	€18,600	€18,600	=
Reserves13	€1,860	€1,860	€1,860	€1,860	€1,860	=
Non-distributable reserves130/1	€1,860	€1,860	€1,860	€1,860	€1,860	=
Reserves not available under the articles1311	€1,860	€1,860	€1,860	€1,860	€1,860	=
Profit (loss) carried forward14	€217,622	€267,951	€289,459	€316,425	€362,740	▲ 14.6%
Amounts payable17/49	€122,442	€174,776	€145,543	€167,343	€181,330	▲ 8.4%
Amounts payable after more than one year17	€9,044	-	-	€17,034	€9,413	▼ 44.7%
Financial debts170/4	€9,044	-	-	€17,034	€9,413	▼ 44.7%
Amounts payable within one year42/48	€113,398	€174,776	€145,543	€150,309	€171,916	▲ 14.4%
Current portion of amounts payable after more than one year42	€12,810	€11,508	-	€7,229	€7,620	▲ 5.4%
Trade debts44	€46,027	€91,981	€106,474	€84,090	€110,356	▲ 31.2%
Suppliers440/4	€46,027	€91,981	€106,474	€84,090	€110,356	▲ 31.2%
Taxes, remuneration and social security45	€45,079	€67,396	€36,559	€56,989	€47,619	▼ 16.4%
Taxes450/3	€43,525	€62,738	€29,536	€53,083	€47,619	▼ 10.3%
Remuneration and social security454/9	€1,554	€4,658	€7,024	€3,906	-	-
Other amounts payable47/48	€9,482	€3,891	€2,510	€2,001	€6,321	▲ 216%

Line	2021	2022	2023	2024	2025	Change
Profit (loss) for the period9904	€88,224	€50,328	€21,508	€26,966	€46,315	▲ 71.8%
+ Depreciation and write-downs630	€6,179	€7,451	€6,371	€3,942	€4,173	▲ 5.9%
Operating cash flow (approximation)	€94,404	€57,780	€27,879	€30,908	€50,489	▲ 63.3%
Investment in fixed assets (approximation)	-	-€942	-€782	-€1,020	-€2,540	▼ 149%
Change in cash	-	€8,423	-€51,854	€77,914	€26,278	▼ 66.3%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

Download as CSV

Timeline · acts, filings and financial milestones

All 15Financial 4Gazette 1Filings 10

Next filing, fiscal year 2026, expected by 31-01-2027

2026

07-09

State Gazette act Resignations: DUBAERE François (manager) and DUBAERE Geraldine (manager)

Appointments: DUBAERE François (non-statutory director) and DUBAERE Geraldine (non-statutory director) · Statutes amendment · Capital conversion10 facts ▸

General meeting, 28-07-2026
Statutes amendment
Capital conversion, compte de capitaux propres disponibles pour distributions futures
Capital conversion, compte de capitaux propres 'apports non appelés'
Registered-office move, Région flamande
Statutes amendment
Director resignation, DUBAERE François (manager)
Director appointment, DUBAERE François (non-statutory director)
Director resignation, DUBAERE Geraldine (manager)
Director appointment, DUBAERE Geraldine (non-statutory director)

2025

02-12

NBB filing Annual accounts filed

fiscal year 2025 · micro schema

31-01

NBB filing Annual accounts filed

fiscal year 2024 · micro schema

2024

30-01

NBB filing Annual accounts filed

fiscal year 2023 · micro schema

2023

30-06

Financial Weakest financial yearnet €21,508 ▼57.3%

Net result drops to €21,508, the lowest in the series; recovery starts the following year.

31-01

NBB filing Annual accounts filed

fiscal year 2022 · micro schema

2022

24-05

NBB filing Annual accounts filed

fiscal year 2021 · micro schema · 113 days late

2021

30-06

Financial Highest result since 2019net €88,224 ▲51.6%

Operating result €123,548, net result €88,224, both a record.

30-06

Financial Equity above €200,000Eq €238,082 ▲58.9%

3 profitable years in a row build equity to €238,082.

18-02

NBB filing Annual accounts filed

fiscal year 2020 · micro schema · 18 days late

2020

30-06

Financial Equity above €100,000Eq €149,858 ▲56.7%

2 profitable years in a row build equity to €149,858.

2019

03-12

NBB filing Annual accounts filed

fiscal year 2019 · micro schema

Show earlier events

10-02

NBB filing Annual accounts filed

fiscal year 2018 · micro schema · 10 days late

2017

19-12

NBB filing Annual accounts filed

fiscal year 2017 · micro schema

2016

16-12

NBB filing Annual accounts filed

fiscal year 2016 · full schema

Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

1 of 6 acts read

About the unread acts

Of the 6 Belgian State Gazette acts we know for this company, 1 has been read. The other 5 have 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.

Directors · office · real estate

Directors

2 directors, last change in 2026

DUBAERE François

Non-statutory director · since 07-09-2026

Current

DUBAERE Geraldine

Non-statutory director · since 07-09-2026

Current

Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ. See the function holders in the CBE →

Not every act has been read: a resignation may be missing here

5 of this company's 6 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.

Location & real-estate footprint

Registered office, Sint-Pieters-Leeuw · 1 establishment unit since 2005

seat establishment The establishment unit on the map

Ground area

1.8 ha

Building footprint

4,464 m²

2 parcels, Flanders, Wallonia. Linked by address, not a title deed.

1 establishment unit

PICLA

Chaussée de Wavre 203C, 1390 Grez-DoiceauLogistics services

since 20052.147.777.265

2 parcels

Flanders 1 (50%) Wallonia 1 (50%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
23069A0568/00L000	Flanders	1.7 ha	1 · 4,001 m²	-
25037G0039/00P002	Wallonia	861 m²	1 · 463 m²	-

Linked by address, not proof of ownership

Good to know

2 of 2 parcels with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Mandate history

2 people since 2026, 2 in office

All 2 In office 2

Board
began earlier

Mandates per person, with start and end dates
Name	Functions and periods
DUBAERE François	Manager, until 07-09-2026 Non-statutory director, from 07-09-2026 to date
DUBAERE Geraldine	Manager, until 07-09-2026 Non-statutory director, from 07-09-2026 to date

See the board, name and seat on a given date →

Articles of association

Legal form clause

Société à responsabilité limitée, SRL

according to the deed of 07-09-2026

Structure & network

Connections & network

2 current directors

Depth

The network starts from this company’s directors. Other companies they run appear here as nodes.

This company Company Director Shareholding +N: links not shown yet Click a node to look further, drag to arrange, scroll to zoom.

Capital and shareholders

Capital over the years

07-09-2026 Converted to available equity · 8,060 EUR
07-09-2026 Converted to uncalled contributions · 12,400 EUR

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Of 4,093 companies in sector 43240 we hold annual accounts for 1,634. 1,097 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector

Identification & contact

Identification

Legal formPrivate limited company

Founded16-06-2005

Fiscal year end30-06

Activities, NACEBEL 2025

43240Other construction installation

47553Retail trade

96999Other personal services

Contact

Website www.picla.beGrez-Doiceau

E-mail info@picla.beGrez-Doiceau

Phone 010/688704Grez-Doiceau

E-invoicing

Reachable via Peppol

Peppol ID 0208:0874500629

Also 9925:BE0874500629

Registered 06-11-2025

Scores and ratios are computed by Checked and are not a credit decision.