PICOBEL'EAU
ActiveSummary
PICOBEL'EAU has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.3m and a net result of €31,358. Equity remains stable across the filed fiscal years (±1.3% per year). Its solvency ranks better than 87% of 1073 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability71▼-7
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €110,000 at 30 days acceptable
Liquidity ample (current ratio 3.6 against 3.24 in 2024; short-term debt: 21.1% and cash: 36.5% of total assets), and 21.1% of the assets are financed with debt.
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Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
78.9%
Return on assets
2%
Age of the figures
9 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €1.3m
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-06-2026, 31 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
31 d early
2024
15 d early
2023
21 d early
2022
16 d early
2021
12 d early
2020
36 d early
2019
14 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 21 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 48% of the sector filed late.
Checked, nothing found (2)
neutral · 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. Usually files around 15 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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 Is the workforce growing, and do people stay?Employer 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
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Financials · fiscal year 2025, abbreviated schema
In the rankings
#1 company by total assets in Walcourt, Other services sector#2 employer in Walcourt#8 company by equity in the province of Namur, Personal services sector
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€31,358▼ 72.5%
2024 · €114,016
Working capital
€874,678▲ 8.0%
2024 · €810,102
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 96, Personal service 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-€134,886▼ 87.7%-€49,904▲ 63.0%-€85,450▼ 71.2%€112,155€26,795▼ 76.1%
Net result-€135,835below the sector's middle half▼ 88.1%-€51,036below the sector's middle half▲ 62.4%-€86,280below the sector's middle half▼ 69.1%€114,016above the sector's middle half€31,358within the sector's middle half▼ 72.5%
Equity€1.2mabove the sector's middle half▼ 9.8%€1.2mabove the sector's middle half▼ 4.1%€1.1mabove the sector's middle half▼ 7.2%€1.2mabove the sector's middle half▲ 10.3%€1.3mabove the sector's middle half▲ 2.6%
Total assets€1.7mabove the sector's middle half▲ 3.1%€1.6mabove the sector's middle half▼ 4.9%€1.5mabove the sector's middle half▼ 7.6%€1.6mabove the sector's middle half▲ 8.1%€1.6mabove the sector's middle half▲ 0.4%
Debt€423,111▲ 78.9%€391,571▼ 7.5%€356,841▼ 8.9%€362,221▲ 1.5%€336,877▼ 7.0%
Working capital€793,233above the sector's middle half▼ 16.1%€744,178above the sector's middle half▼ 6.2%€664,439above the sector's middle half▼ 10.7%€810,102above the sector's middle half▲ 21.9%€874,678above the sector's middle half▲ 8.0%
Solvency74.7%above the sector's middle half▼ 10.7pp75.4%above the sector's middle half▲ 0.7pp75.7%above the sector's middle half▲ 0.3pp77.2%above the sector's middle half▲ 1.5pp78.9%above the sector's middle half▲ 1.7pp
Current ratio2.88above the sector's middle half▼ 2.162.90above the sector's middle half▲ 0.022.86above the sector's middle half▼ 0.043.24above the sector's middle half▲ 0.373.60above the sector's middle half▲ 0.36
Return on assets (ROA)-8.1%below the sector's middle half▼ 3.7pp-3.2%within the sector's middle half▲ 4.9pp-5.9%below the sector's middle half▼ 2.7pp7.2%within the sector's middle half▲ 13.1pp2.0%within the sector's middle half▼ 5.2pp
Staff (FTE)96.5above the sector's middle half▲ 9.3%97.1above the sector's middle half▲ 0.6%90.1above the sector's middle half▼ 7.2%85.5above the sector's middle half▼ 5.1%81above the sector's middle half▼ 5.3%
above
within
below
the middle half (P25 to P75) of NACE 96, Personal service activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 76% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.6m
Fixed assets
€382,727 ▼ 8.0%
Current assets
€1.2m ▲ 3.3%
Equity and liabilities €1.6m
Equity
€1.3m ▲ 2.6%
Debt
€336,877 ▼ 7.0%
Debt's share of the balance-sheet total falls from 22.8% to 21.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€125,871▼
2024 · €204,126
Cash flow
€130,435▼
2024 · €205,988
Debt to equity
0.27▼
2024 · 0.30
ROE
2.5%▼
2024 · 9.3%
Interest coverage
97.05▼
2024 · 358.57
Debt ≤ 1 year
€336,877▼
2024 · €362,221
Income taxes
€132▼
2024 · €147
Staff costs
€3.0m▲
2024 · €2.9m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 542 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 93% are still going.
- Medium-sized
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
0.2%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
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 542 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
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €2.8m | €2.9m | €2.9m | €2.9m | €3.0m | ▲ 5.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €87,428 | €87,266 | €93,857 | €91,972 | €99,076 | ▲ 7.7% |
| Other operating charges640/8 | €8,461 | €16,682 | €3,243 | €5,835 | €2,606 | ▼ 55.3% |
| Non-recurring operating charges66A | - | - | - | €655 | €39,291 | ▲ 5,896% |
| Gross operating margin9900 | €2.8m | €3.0m | €2.9m | €3.1m | €3.2m | ▲ 3.2% |
| Operating profit (loss)9901 | -€134,886 | -€49,904 | -€85,450 | €112,155 | €26,795 | ▼ 76.1% |
| Financial income75/76B | €20 | €4 | €1,425 | €2,577 | €5,992 | ▲ 132% |
| Recurring financial income75 | €20 | €4 | €1,425 | €2,577 | €5,992 | ▲ 132% |
| Financial charges65/66B | €468 | €601 | €1,916 | €569 | €1,297 | ▲ 128% |
| Recurring financial charges65 | €468 | €601 | €1,916 | €569 | €1,297 | ▲ 128% |
| Profit (loss) for the period before taxes9903 | -€135,334 | -€50,501 | -€85,941 | €114,163 | €31,490 | ▼ 72.4% |
| Income taxes67/77 | €501 | €536 | €339 | €147 | €132 | ▼ 10.1% |
| Profit (loss) for the period9904 | -€135,835 | -€51,036 | -€86,280 | €114,016 | €31,358 | ▼ 72.5% |
| Transfer from tax-exempt reserves789 | €0 | €601,541 | €0 | - | - | - |
| Profit (loss) for the period to be appropriated9905 | -€135,835 | €550,505 | -€86,280 | €114,016 | €31,358 | ▼ 72.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.7m | €1.6m | €1.5m | €1.6m | €1.6m | ▲ 0.4% |
| Fixed assets21/28 | €457,964 | €454,133 | €447,592 | €415,944 | €382,727 | ▼ 8.0% |
| Intangible fixed assets21 | €1,288 | €0 | - | - | - | - |
| Tangible fixed assets22/27 | €452,617 | €454,073 | €447,532 | €415,884 | €382,667 | ▼ 8.0% |
| Plant, machinery and equipment23 | €26,390 | €20,399 | €14,233 | €8,889 | €3,984 | ▼ 55.2% |
| Furniture and vehicles24 | €105,570 | €113,412 | €78,546 | €91,441 | €62,240 | ▼ 31.9% |
| Other tangible fixed assets26 | €320,656 | €320,261 | €354,753 | €315,554 | €316,443 | ▲ 0.3% |
| Financial fixed assets28 | €4,060 | €60 | €60 | €60 | €60 | = |
| Current assets29/58 | €1.2m | €1.1m | €1.0m | €1.2m | €1.2m | ▲ 3.3% |
| Amounts receivable after more than one year29 | €214,500 | €148,500 | €118,800 | €92,400 | €66,000 | ▼ 28.6% |
| Other amounts receivable291 | €214,500 | €148,500 | €118,800 | €92,400 | €66,000 | ▼ 28.6% |
| Amounts receivable within one year40/41 | €228,409 | €228,233 | €305,230 | €194,307 | €293,080 | ▲ 50.8% |
| Trade receivables40 | €7,878 | €4,553 | €31,543 | €10,269 | €16,442 | ▲ 60.1% |
| Other amounts receivable41 | €220,531 | €223,680 | €273,687 | €184,038 | €276,638 | ▲ 50.3% |
| Current investments50/53 | - | - | - | €400,000 | €250,000 | ▼ 37.5% |
| Cash at bank and in hand54/58 | €747,904 | €729,888 | €554,351 | €454,299 | €582,092 | ▲ 28.1% |
| Deferred charges and accrued income490/1 | €23,681 | €29,129 | €42,898 | €31,318 | €20,383 | ▼ 34.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.7m | €1.6m | €1.5m | €1.6m | €1.6m | ▲ 0.4% |
| Equity10/15 | €1.2m | €1.2m | €1.1m | €1.2m | €1.3m | ▲ 2.6% |
| Contributions10/11 | €18,619 | €18,619 | €18,619 | €18,619 | €18,619 | = |
| Reserves13 | €603,401 | €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 | = |
| Tax-exempt reserves132 | €601,541 | €0 | - | - | - | - |
| Profit (loss) carried forward14 | €627,328 | €1.2m | €1.1m | €1.2m | €1.2m | ▲ 2.6% |
| Amounts payable17/49 | €423,111 | €391,571 | €356,841 | €362,221 | €336,877 | ▼ 7.0% |
| Amounts payable within one year42/48 | €421,261 | €391,571 | €356,841 | €362,221 | €336,877 | ▼ 7.0% |
| Trade debts44 | €61,271 | €34,508 | €46,634 | €34,792 | €39,506 | ▲ 13.6% |
| Suppliers440/4 | €61,271 | €34,508 | €46,634 | €34,792 | €39,506 | ▲ 13.6% |
| Taxes, remuneration and social security45 | €359,084 | €357,063 | €308,156 | €324,130 | €294,071 | ▼ 9.3% |
| Taxes450/3 | €5,201 | €9,773 | €1,074 | €679 | €0 | ▼ 100% |
| Remuneration and social security454/9 | €353,883 | €347,290 | €307,082 | €323,450 | €294,071 | ▼ 9.1% |
| Other amounts payable47/48 | €906 | €0 | €2,051 | €3,300 | €3,300 | = |
| Accrued charges and deferred income492/3 | €1,850 | €0 | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€135,835 | -€51,036 | -€86,280 | €114,016 | €31,358 | ▼ 72.5% |
| + Depreciation and write-downs630 | €87,428 | €87,266 | €93,857 | €91,972 | €99,076 | ▲ 7.7% |
| Operating cash flow (approximation) | -€48,407 | €36,229 | €7,577 | €205,988 | €130,435 | ▼ 36.7% |
| Investment in fixed assets (approximation) | - | -€83,434 | -€87,317 | -€60,324 | -€65,859 | ▼ 9.2% |
| Change in cash | - | -€18,016 | -€175,536 | -€100,052 | €127,793 | ▲ 228% |
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
30-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
16-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Back to profitnet €114,016
Net result €114,016 after 4 loss-making years.
10-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
15-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
19-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Weakest financial yearnet -€135,835
Net result drops to -€135,835, the lowest in the series; recovery starts the following year.
25-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
17-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
20-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
18-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
26-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 10 acts read
About the unread acts
We know of 10 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
10 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, Walcourt · 3 establishment units since 2009
Ground area
3,404 m²
Building footprint
489 m²
Volume, LiDAR
2,136 m³
3 parcels, Wallonia · tallest building 10.3 m, ±3 floors. Linked by address, not a title deed.
3 establishment units
PICOBEL'EAU
since 20092.175.468.389
PICOBEL'EAU
since 20152.268.254.433
PICOBEL'EAU
since 20212.315.707.427
3 parcels
Wallonia
3
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 56030C0256/00T000 | Wallonia | 1,921 m² | 1 · 296 m² | 8.4 m · 2 fl. |
| 93037B0190/00M002 | Wallonia | 980 m² | 1 · 153 m² | - |
| 52025C0191/00C000 | Wallonia | 504 m² | 1 · 40 m² | 10.3 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
3 of 3 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Legal Entity Identifier
64884IS1H7ZY232OF397
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SOLIDATH
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Of 807 companies in sector 96910 we hold annual accounts for 617. 281 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formCooperative company
Founded22-12-2008
Fiscal year end31-12
Activities, NACEBEL 2025
96910Personal service activities
Contact
E-mail
info@picobeleau.netGerpinnes
Phone
0479/340458Gerpinnes
Fax
071700671Gerpinnes
E-invoicing
Reachable via Peppol
Peppol ID
0208:0808676231
Registered
20-11-2020
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.