PIERAERTS
ActivePIERAERTS has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3.11M and a net result of €368k. Equity is growing by ~10.7% per year across the filed fiscal years. Its solvency ranks better than 86% of 4144 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
87
/ 100
Excellent
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability80=
Solvency100▲+1
Growth78=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €270k at 30 days acceptable
Liquidity ample (current ratio 4.03 against 3.78 in 2024; short-term debt: 23.1% and cash: 24.1% of total assets), and 24.5% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Sector 47
higher
← fewer bankruptcies
more bankruptcies →
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
75.5%
Return on assets
8.9%
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
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
28 d late
2024
6 d late
2023
22 d late
2022
25 d late
2021
6 d early
2020
4 d early
2019
7 d early
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
19-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€368k▲ 12.2%
2024 · €328k
2018: €159k
2019: €98k
2020: €142k
2021: €152k
2022: €255k
2023: €223k
2024: €328k
2018 → 2025
Working capital
€2.88M▲ 9.2%
2024 · €2.64M
2018: €1.34M
2019: €1.50M
2020: €1.74M
2021: €1.79M
2022: €2.09M
2023: €2.35M
2024: €2.64M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€1.94M-€2.20M▲ 13.1%€2.42M▲ 10.2%€2.75M▲ 13.5%€3.11M▲ 13.4%
Operating result€175k-€341k▲ 95.0%€287k▼ 15.9%€400k▲ 39.3%€458k▲ 14.5%
Net result€152k-€255k▲ 67.5%€223k▼ 12.4%€328k▲ 47.0%€368k▲ 12.2%
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 15% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.12M
Fixed assets
€295k▲ 164%
Current assets
€3.83M▲ 6.8%
Equity and liabilities €4.12M
Equity
€3.11M▲ 13.4%
Debt
€1.01M▲ 6.4%
The debt ratio falls from 25.7% to 24.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€511k▲
2024 · €430k
Cash flow
€420k▲
2024 · €358k
Solvency
75.5%▲
2024 · 74.3%
Current ratio
4.03▲
2024 · 3.78
Quick ratio
3.45▲
2024 · 3.34
Debt / equity
0.32▼
2024 · 0.35
ROE
11.8%▼
2024 · 11.9%
ROA
8.9%▲
2024 · 8.9%
Interest coverage
11.59▲
2024 · 9.45
Debt
€1.01M▲
2024 · €948k
Debt ≤ 1 year
€951k▲
2024 · €948k
Debt > 1 year
€58k
Income taxes
€125k▲
2024 · €119k
Staff costs
€153k▲
2024 · €135k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€3.70M€4.12M▲
Fixed assets21/28€112k€295k▲
Tangible fixed assets22/27€111k€295k▲
Furniture and vehicles24€111k€295k▲
Financial fixed assets28€235€235=
Current assets29/58€3.58M€3.83M▲
Stocks and contracts in progress3€420k€545k▲
Stocks30/36€420k€545k▲
Amounts receivable within one year40/41€406k€253k▼
Trade receivables40€406k€253k▼
Other amounts receivable41€350-
Current investments50/53€2.00M€2.02M▲
Cash at bank and in hand54/58€753k€992k▲
Deferred charges and accrued income490/1-€20k
Equity and liabilities
Total equity and liabilities10/49€3.70M€4.12M▲
Equity10/15€2.75M€3.11M▲
Contributions10/11€671k€671k=
Capital10€671k€671k=
Issued capital100€671k€671k=
Reserves13€2.07M€2.44M▲
Non-distributable reserves130/1€67k€67k=
Legal reserve130€67k€67k=
Tax-exempt reserves132€56k€56k=
Distributable reserves133€1.95M€2.32M▲
Profit (loss) carried forward14€5k€1k▼
Amounts payable17/49€948k€1.01M▲
Amounts payable after more than one year17-€58k
Financial debts170/4-€58k
Amounts payable within one year42/48€948k€951k▲
Current portion of amounts payable after more than one year42-€116k
Trade debts44€137k€59k▼
Suppliers440/4€137k€59k▼
Advances received on contracts in progress46€126k-
Taxes, remuneration and social security45€87k€124k▲
Taxes450/3€70k€105k▲
Remuneration and social security454/9€17k€19k▲
Other amounts payable47/48€598k€652k▲
Income statement
Code20242025
Remuneration, social security and pensions62€135k€153k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€30k€53k▲
Other operating charges640/8€6k€6k▼
Gross operating margin9900€571k€670k▲
Operating profit (loss)9901€400k€458k▲
Financial income75/76B€93k€79k▼
Recurring financial income75€93k€79k▼
Financial charges65/66B€45k€44k▼
Recurring financial charges65€45k€44k▼
Profit (loss) for the period before taxes9903€447k€493k▲
Income taxes67/77€119k€125k▲
Profit (loss) for the period9904€328k€368k▲
Profit (loss) for the period to be appropriated9905€328k€368k▲
Appropriation of the result
Profit (loss) to be appropriated9906€330k€372k▲
Profit (loss) brought forward from the previous period14P€3k€5k▲
Transfer to equity691/2€326k€371k▲
To other reserves6921€326k€371k▲
Social balance
Average headcount (FTE)90872.42.7▲
The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 28 days late
2025
31-12
Financial
Highest result since 2018net €368k ▲12.2%
Operating result €458k, net result €368k, both a record.
06-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 6 days late
2024
22-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 22 days late
2023
25-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 25 days late
2022
31-12
Financial
Equity above €2MEq €2.20M ▲13.1%
5 profitable years in a row build equity to €2.20M.
25-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
27-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
24-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Weakest financial yearnet €98k ▼38.3%
Net result drops to €98k, the lowest in the series; recovery starts the following year.
26-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 26 days late
2018
24-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
22-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 22 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
5 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, Kortenaken · 1 establishment unit since 2003
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Tiensestraat 283470 KortenakenGround area
947 m²
Building footprint
177 m²
Volume, LiDAR
916 m³
Parcel 24054B0257/00L004, Flanders · tallest building 7.2 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Tiensestraat 28, 3470 Kortenaken
since 20032.126.258.014
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24054B0257/00L004 | Flanders | 947 m² | 1 · 177 m² | 7.2 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2024 · 2 entries · 186 EUR awarded · 186 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 135 EUR | 135 EUR |
| 2022 | 1 | 51 EUR | 51 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 301 companies in sector 47525 we hold annual accounts for 207. 100 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded03-03-2003
Fiscal year end31-12
Activities, NACEBEL
46610Wholesale trade
47525Retail trade
51880
45194
46713Wholesale trade
50104
Sources
Crossroads Bank for EnterprisesNational Bank · 23 filingsAddress and cadastre registers
Data from official sources, last processed on 19-09-2026. Scores and ratios are computed by Checked and are not a credit decision.