From the official registers: KBO 17 annual accounts at the National Bank publications in the Belgian Official Gazette
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 €693,932 and a net result of €66,029. Equity has been growing by about 6.1% per year since 2018. Its solvency ranks better than 18% of 6,687 sector peers (NACE 64, financial year 2025). The company has been active since 2008 and the Belgian Official Gazette contains no insolvency or warning signals.
Financials · financial year 2025, abbreviated format
Annual accounts 2025
- Financial year ended
- 31-12-2025
- Filed on
- 10-06-2026
- Format
- abbreviated format
- Reference
- 2026-00170677
Amounts without an identifiable currency are taken as euros.
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result for 2025 is 16% lower than in 2024.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Average staff per financial year, in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Financial service activities, except insurance and pension funding (NACE 64). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €0 | €8,000 | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,670 | €5,350 | €4,352 | €5,242 | €7,334 | €7,963 | €7,395 | €6,454 | ▼ 12.7% |
| Other operating charges640/8 | - | - | - | €1,719 | €1,528 | €1,654 | €1,640 | €1,620 | ▼ 1.2% |
| Non-recurring operating charges66A | - | - | - | - | - | €222,276 | €0 | - | - |
| Gross operating margin9900 | €127,560 | €125,321 | €130,603 | €136,757 | €125,086 | €116,297 | €104,908 | €88,630 | ▼ 15.5% |
| Operating profit (loss)9901 | €117,545 | €118,538 | €124,474 | €129,796 | €116,223 | -€115,596 | €95,872 | €80,556 | ▼ 16.0% |
| Financial income75/76B | - | - | - | - | - | €103 | €61 | €97 | ▲ 58.4% |
| Recurring financial income75 | - | €0 | €0 | - | - | €103 | €61 | €97 | ▲ 58.4% |
| Financial charges65/66B | - | - | - | €99,460 | €105 | €2,564 | €2,076 | €1,412 | ▼ 32.0% |
| Recurring financial charges65 | €85,912 | €74,849 | €159 | €99,460 | €105 | €2,564 | €2,076 | €1,412 | ▼ 32.0% |
| Profit (loss) for the period before taxes9903 | €31,633 | €43,689 | €124,315 | €30,336 | €116,118 | -€118,057 | €93,858 | €79,240 | ▼ 15.6% |
| Income taxes67/77 | €11,668 | €14,886 | €33,358 | €8,984 | €30,755 | €1,690 | €231 | €13,212 | ▲ 57× |
| Profit (loss) for the period9904 | €19,965 | €28,803 | €90,957 | €21,352 | €85,364 | -€119,747 | €93,627 | €66,029 | ▼ 29.5% |
| Profit (loss) for the period to be appropriated9905 | €19,965 | €28,803 | €90,957 | €21,352 | €85,364 | -€119,747 | €93,627 | €66,029 | ▼ 29.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €2.6m | €4.7m | €4.7m | €4.7m | €4.6m | €4.5m | €4.5m | €4.6m | ▲ 1.1% |
| Formation expenses20 | - | €0 | €0 | - | - | - | - | - | - |
| Fixed assets21/28 | €2.4m | €4.4m | €4.4m | €4.4m | €4.4m | €4.4m | €4.4m | €4.4m | ▼ 0.1% |
| Intangible fixed assets21 | - | €0 | €0 | - | - | - | - | - | - |
| Tangible fixed assets22/27 | €0.02m | €0.02m | €0.02m | €0.02m | €0.03m | €0.02m | €0.01m | €0.006m | ▼ 54.0% |
| Plant, machinery and equipment23 | - | - | - | €0.001m | €0.001m | €144 | €0 | - | - |
| Furniture and vehicles24 | - | - | - | €0.01m | €0.02m | €0.01m | €0.007m | €0.003m | ▼ 53.5% |
| Other tangible fixed assets26 | - | - | - | €0.005m | €0.01m | €0.007m | €0.005m | €0.002m | ▼ 54.8% |
| Financial fixed assets28 | €2.4m | €4.4m | €4.4m | €4.4m | €4.4m | €4.4m | €4.4m | €4.4m | = |
| Current assets29/58 | €0.2m | €0.2m | €0.2m | €0.3m | €0.2m | €0.04m | €0.1m | €0.2m | ▲ 54.7% |
| Stocks and contracts in progress3 | - | €0 | €0 | - | - | - | - | - | - |
| Amounts receivable within one year40/41 | €0.1m | €0.1m | €0.2m | €0.1m | €0.2m | €0.009m | €0.08m | €0.1m | ▲ 63.4% |
| Trade receivables40 | - | - | - | €0.1m | €0.2m | €0 | €0.06m | €0.1m | ▲ 116% |
| Other amounts receivable41 | - | - | - | €0.01m | €0.001m | €0.009m | €0.02m | €0.008m | ▼ 65.1% |
| Current investments50/53 | €0.04m | €0.1m | €0.06m | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €0.001m | €0.003m | €0.001m | €0.1m | €0.008m | €0.03m | €0.02m | €0.02m | ▲ 28.7% |
| Deferred charges and accrued income490/1 | - | - | - | €0.004m | €0.003m | €0.004m | €0.004m | €0.004m | ▲ 6.7% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €2.6m | €4.7m | €4.7m | €4.7m | €4.6m | €4.5m | €4.5m | €4.6m | ▲ 1.1% |
| Equity10/15 | €0.4m | €0.5m | €0.5m | €0.6m | €0.7m | €0.5m | €0.6m | €0.7m | ▲ 10.5% |
| Contributions10/11 | €1.9m | €1.9m | - | €1.9m | €1.9m | €1.9m | €1.9m | €1.9m | = |
| Reserves13 | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | = |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €0.002m | €0.002m | €0 | - | - | - |
| Distributable reserves133 | - | - | - | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | = |
| Profit (loss) carried forward14 | -€1.6m | -€1.6m | -€1.5m | -€1.5m | -€1.4m | -€1.5m | -€1.4m | -€1.3m | ▲ 4.7% |
| Amounts payable17/49 | €2.1m | €4.2m | €4.1m | €4.1m | €4.0m | €3.9m | €3.9m | €3.9m | ▼ 0.4% |
| Amounts payable after more than one year17 | - | €4.1m | €4.0m | €4.0m | €3.9m | €3.9m | €3.9m | €3.9m | = |
| Other amounts payable178/9 | - | - | - | €4.0m | €3.9m | €3.9m | €3.9m | €3.9m | = |
| Amounts payable within one year42/48 | €2.0m | €0.05m | €0.06m | €0.07m | €0.06m | €0.03m | €0.04m | €0.02m | ▼ 41.4% |
| Trade debts44 | €0.02m | €0.004m | €0.005m | €0.004m | €0.001m | €0.007m | €0.003m | €0.005m | ▲ 60.5% |
| Suppliers440/4 | - | - | - | €0.004m | €0.001m | €0.007m | €0.003m | €0.005m | ▲ 60.5% |
| Taxes, remuneration and social security45 | - | - | - | €0.02m | €0.02m | €0.003m | €0.003m | €0.003m | = |
| Taxes450/3 | - | - | - | €0.02m | €0.01m | €0.001m | €0.001m | €0.001m | = |
| Remuneration and social security454/9 | - | - | - | €0.003m | €0.003m | €0.003m | €0.003m | €0.003m | = |
| Other amounts payable47/48 | - | - | - | €0.04m | €0.04m | €0.02m | €0.03m | €0.02m | ▼ 54.8% |
| Accrued charges and deferred income492/3 | - | - | - | €0.1m | €0 | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.02m | €0.03m | €0.09m | €0.02m | €0.09m | -€0.1m | €0.09m | €0.07m | ▼ 29.5% |
| + Depreciation and write-downs630 | €0.007m | €0.005m | €0.004m | €0.005m | €0.007m | €0.008m | €0.007m | €0.006m | ▼ 12.7% |
| Operating cash flow (approximation) | €0.03m | €0.03m | €0.1m | €0.03m | €0.09m | -€0.1m | €0.1m | €0.07m | ▼ 28.3% |
| Investment in fixed assets (approximation) | - | -€2.1m | -€0.006m | -€0.005m | -€0.01m | -€0.002m | €0 | €0 | - |
| Change in cash | - | €0.002m | -€0.001m | €0.1m | -€0.1m | €0.02m | -€0.007m | €0.006m | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 17 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 10-06-2026 | 2026-00170677 | NBB |
| 31-12-2024 | abbreviated format | 23-06-2025 | 2025-00163178 | |
| 31-12-2023 | abbreviated format | 21-06-2024 | 2024-00163155 | |
| 31-12-2022 | abbreviated format | 02-06-2023 | 2023-00103815 | |
| 31-12-2021 | micro format | 22-06-2022 | 2022-20086926 | |
| 31-12-2020 | micro format | 27-07-2021 | 2021-41200147 | |
| 31-12-2019 | micro format | 27-07-2020 | 2020-34400347 | |
| 31-12-2018 | micro format | 26-06-2019 | 2019-23000128 | |
| 31-12-2017 | micro format | 26-06-2018 | 2018-23400475 | |
| 31-12-2016 | micro format | 03-07-2017 | 2017-28100033 |
Comparable companies
These companies have the same main activity as PICO: activities of holding companies (NACE 64210). They are comparable in size and age: total assets between €3.2m and €5.1m, founded between 2007 and 2011.
| Company | Founded | Total assets | Equity | Gross margin | Net result | FTE | Financial year |
|---|---|---|---|---|---|---|---|
| PICO Oudenaarde | 2008 | €4.6m | €0.7m | €0.09m | €0.07m | 0 | 2025 |
| B&J Invest Lokeren | 2010 | €5.1m | €2.7m | €0.08m | €0.02m | 0 | 2025 |
| WAELKO Oostrozebeke | 2007 | €4.4m | €1.1m | €0.09m | -€0.04m | 0 | 2025 |
| MARACAY Tongeren-Borgloon | 2009 | €4.1m | €2.9m | €0.09m | €0.03m | 0 | 2025 |
| GERVE Wijnegem | 2007 | €4.7m | €4.7m | €0.1m | €0.07m | 0 | 2025 |
| DECATH HOLDING Wortegem-Petegem | 2011 | €3.6m | €2.4m | €0.1m | €0.04m | 0 | 2025 |
| DEMEYER HOLDING Deinze | 2011 | €3.2m | €2.8m | €0.09m | €0.2m | 0 | 2025 |
They were chosen from the 20,097 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.