Equity
Debts exceed assets in financial year 2025.
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Debts exceed assets in financial year 2025.
Every financial year from 2018 to 2025 closed with a loss. 2020 was the heaviest.
The micro format states no turnover.
Of this, €655,540 falls due within a year.
Seven of the last ten came late. The 2019 accounts came latest: 49 days after the end of the period.
Lower net result than 95% of companies in wholesale trade. Sector median €5,606 · 13,813 companies.
In July 2024, 1,216 companies had the same profile as PIERA has now. Each dot stands for 4 companies, two years later.
Another 0.7% stopped without a precise date, possibly only after those two years.
The method was tested on the 497,448 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 1,216 companies, not a prediction for PIERA. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
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| Company | ||||
|---|---|---|---|---|
| PIERA Theux | €0.9m | €14,893 | -30.2% | - |
| André DOMINIQUE SRL Bastogne | €1.1m | €24,758 | 26.0% | - |
| Robin des Toits Beersel | €0.5m | €11,951 | 33.3% | - |
| Stoneport Zedelgem | €0.6m | €17,079 | 14.4% | - |
| Van den Eeckhout Christophe Maldegem | €0.5m | €11,887 | 54.7% | - |
| GROUP PARTNERS Uccle | €0.4m | €18,404 | 22.5% | - |
| PREBEL Malmedy | €0.7m | €58,955 | 40.7% | - |
These companies have the same main activity as PIERA: wholesale of construction materials, general range (NACE 46831). They are comparable in size and age: total assets between €397,000 and €1.1m, founded between 2009 and 2014.
PIERA files the micro format. That format states no turnover. The gross margin rose from €9,291 in 2013 to €14,893 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
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