Summary
PICO is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €338k and a net result of €6k. Equity remains stable across the filed fiscal years (±1.5% per year). Its solvency ranks better than 95% of 8048 sector peers (fiscal year 2025). The company has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The health score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 29-04-2026, 1 day ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
1 d early
2024
1 d early
2023
on the day
2022
2 d early
2021
18 d early
2020
17 d early
2019
10 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today30-09-2026 close30-04-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€338k▲ 1.4%
2024 · €334k
Net result
€6k▼ 96.8%
2024 · €175k
Total assets
€349k▼ 6.2%
2024 · €372k
Solvency
97.0%▲ 7.3pp
2024 · 89.7%
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€5k▲ 69.2%€4k▼ 22.0%€-808€193k€-3k
Net result€5k▲ 46.5%€3k▼ 39.6%€29k▲ 953%€175k▲ 493%€6k▼ 96.8%
Equity€313k▲ 1.5%€316k▲ 0.9%€345k▲ 9.1%€334k▼ 3.2%€338k▲ 1.4%
Total assets€627k▼ 0.8%€626k▼ 0.1%€642k▲ 2.6%€372k▼ 42.1%€349k▼ 6.2%
Debt€314k▼ 3.1%€310k▼ 1.1%€298k▼ 4.0%€38k▼ 87.2%€10k▼ 72.8%
Working capital€-311k▲ 2.2%€-308k▲ 0.8%€-278k▲ 9.8%€334k€340k▲ 1.7%
Solvency50.0%▲ 1.1pp50.5%▲ 0.5pp53.7%▲ 3.2pp89.7%▲ 36.1pp97.0%▲ 7.3pp
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €3k after €193k in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €349k
Equity
€338k ▲ 1.4%
Debt
€10k ▼ 72.8%
Debt's share of the balance-sheet total falls from 10.3% to 3.0%. Equity is higher and debt is lower.
Key figures and ratios
ROE
1.6%▼
2024 · 52.4%
ROA
1.6%▼
2024 · 47.0%
Debt ≤ 1 year
€9k▼
2024 · €38k
Income taxes
€498▼
2024 · €17k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €708 | €167 | €167 | €73 | - | - |
| Other operating charges640/8 | €498 | €261 | €610 | €1k | €674 | ▼ 41.2% |
| Gross operating margin9900 | €7k | €5k | €-31 | €194k | €-2k | ▼ 101% |
| Operating profit (loss)9901 | €5k | €4k | €-808 | €193k | €-3k | ▼ 102% |
| Financial income75/76B | - | - | €34k | €666 | €11k | ▲ 1,515% |
| Recurring financial income75 | - | - | €34k | €666 | €11k | ▲ 1,515% |
| Financial charges65/66B | €302 | €444 | €1k | €2k | €2k | ▲ 2.5% |
| Recurring financial charges65 | €302 | €444 | €1k | €2k | €2k | ▲ 2.5% |
| Profit (loss) for the period before taxes9903 | €5k | €4k | €32k | €192k | €6k | ▼ 96.8% |
| Income taxes67/77 | €454 | €958 | €3k | €17k | €498 | ▼ 97.1% |
| Profit (loss) for the period9904 | €5k | €3k | €29k | €175k | €6k | ▼ 96.8% |
| Profit (loss) for the period to be appropriated9905 | €5k | €3k | €29k | €175k | €6k | ▼ 96.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €627k | €626k | €642k | €372k | €349k | ▼ 6.2% |
| Fixed assets21/28 | €625k | €625k | €625k | - | - | - |
| Tangible fixed assets22/27 | €408 | €240 | €73 | - | - | - |
| Furniture and vehicles24 | €408 | €240 | €73 | - | - | - |
| Financial fixed assets28 | €625k | €625k | €625k | - | - | - |
| Current assets29/58 | €1k | €1k | €17k | €372k | €349k | ▼ 6.2% |
| Amounts receivable within one year40/41 | - | - | €2k | €2k | €3k | ▲ 44.2% |
| Other amounts receivable41 | - | - | €2k | €2k | €3k | ▲ 44.2% |
| Current investments50/53 | - | - | - | €15k | €260k | ▲ 1,633% |
| Cash at bank and in hand54/58 | €1k | €1k | €16k | €355k | €83k | ▼ 76.7% |
| Deferred charges and accrued income490/1 | - | - | - | €11 | €3k | ▲ 28,361% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €627k | €626k | €642k | €372k | €349k | ▼ 6.2% |
| Equity10/15 | €313k | €316k | €345k | €334k | €338k | ▲ 1.4% |
| Contributions10/11 | €313k | €313k | €313k | €128k | €128k | = |
| Outside capital11 | €313k | €313k | - | - | - | - |
| Other1109/19 | €313k | €313k | - | - | - | - |
| Reserves13 | - | €4k | €32k | €206k | €211k | ▲ 2.3% |
| Distributable reserves133 | - | €4k | €32k | €206k | €211k | ▲ 2.3% |
| Profit (loss) carried forward14 | €836 | - | €0 | - | - | - |
| Amounts payable17/49 | €314k | €310k | €298k | €38k | €10k | ▼ 72.8% |
| Amounts payable within one year42/48 | €312k | €309k | €295k | €38k | €9k | ▼ 76.5% |
| Financial debts43 | - | - | €25k | - | - | - |
| Credit institutions430/8 | - | - | €25k | - | - | - |
| Trade debts44 | - | €1k | €0 | €2k | €2k | ▼ 32.7% |
| Suppliers440/4 | - | €1k | €0 | €2k | €2k | ▼ 32.7% |
| Taxes, remuneration and social security45 | €1k | €562 | €3k | €17k | - | - |
| Taxes450/3 | €1k | €562 | €3k | €17k | - | - |
| Other amounts payable47/48 | €311k | €308k | €267k | €18k | €7k | ▼ 59.6% |
| Accrued charges and deferred income492/3 | €2k | €1k | €3k | €497 | €2k | ▲ 209% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €5k | €3k | €29k | €175k | €6k | ▼ 96.8% |
| + Depreciation and write-downs630 | €708 | €167 | €167 | €73 | - | - |
| Operating cash flow (approximation) | €5k | €3k | €30k | €175k | €6k | ▼ 96.8% |
| Investment in fixed assets (approximation) | - | €0 | €0 | - | - | - |
| Change in cash | - | €-445 | €15k | €339k | €-272k | ▼ 180% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
29-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-09
Financial
Liquidity quadruplescurrent ratio 39.41
Current ratio from 9.88 to 39.41; short-term debt falls from €38k to €9k.
29-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-09
Financial
Highest result since 2018net €175k ▲493%
Operating result €193k, net result €175k, both a record.
30-09
Financial
Liquidity times 168current ratio 9.88
Current ratio from 0.06 to 9.88; short-term debt falls from €295k to €38k.
30-04
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
28-04
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
12-04
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
13-04
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
30-09
Financial
Back to profitnet €3k
Net result €3k after one loss-making year.
20-04
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
30-09
Financial
Weakest financial yearnet €-5k
Net result drops to €-5k, the lowest in the series; recovery starts the following year.
23-04
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
10-04
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Avelgem · 1 establishment unit since 2015
Ground area
1.4 ha
Building footprint
5,153 m²
Volume, LiDAR
64,902 m³
2 parcels, Flanders · tallest building 21.3 m, ±4 floors. Linked by address, not a title deed.
30
companies at this address
See who is registered here
1 establishment unit
PICO
since 20152.248.334.492
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34003A3102/00N003 | Flanders | 1.3 ha | 1 · 5,153 m² | 21.3 m · 4 fl. |
| 34302B0856/00G000 | Flanders | 114 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.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
Recognitions · licences · registrations
Legal Entity Identifier
894500OX1SQL4AXMKR33
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Of 24,730 companies in sector 64210 we hold annual accounts for 19,772. 13,771 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
Founded21-12-2015
Fiscal year end30-09
Activities, NACEBEL 2025
64210Activities of holding companies
Scores and ratios are computed by Checked and are not a credit decision.