PIERS
ActiveSummary
PIERS has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €281,323 and a net result of -€68,430. Equity is shrinking by ~3% per year across the filed fiscal years. Its solvency ranks better than 38% of 10552 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2025
Profitability14▲+8
Solvency52▼-16
Growth32=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €13,000 at 30 days acceptable
Liquidity tight (current ratio 1.24; short-term debt: 33% and cash: 1.8% of total assets), and 73.3% of the assets are financed with debt.
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Signals
Three 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
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 25-08-2026, 25 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
25 d late
2025
2 d early
2024
9 d early
2023
29 d early
2022
on the day
2021
2 d early
2020
16 d late
← 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 on the deadline day; the sector median for financial year 2024 is on the deadline day, and 47% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€281,323▼ 46.9%
2025 · €529,753
Total assets
€1.1m▼ 14.7%
2025 · €1.2m
Net result
-€68,430▲ 45.8%
2025 · -€126,193
Working capital
€84,423▼ 72.1%
2025 · €302,318
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, 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
Line20222023202420252025
Operating result€17,805▼ 57.0%€65,320▲ 267%-€24,214-€77,647▼ 221%-€45,381-
Net result-€26,171below the sector's middle half▼ 472%€13,735within the sector's middle half-€69,840below the sector's middle half-€126,193below the sector's middle half▼ 80.7%-€68,430below the sector's middle half-
Equity€712,051above the sector's middle half▼ 3.5%€725,785above the sector's middle half▲ 1.9%€655,945within the sector's middle half▼ 9.6%€529,753within the sector's middle half▼ 19.2%€281,323within the sector's middle half-
Total assets€967,219within the sector's middle half▲ 5.1%€970,421within the sector's middle half▲ 0.3%€864,943within the sector's middle half▼ 10.9%€1.2mwithin the sector's middle half▲ 42.7%€1.1mwithin the sector's middle half-
Debt€255,168▲ 39.9%€244,635▼ 4.1%€208,998▼ 14.6%€704,237▲ 237%€771,180-
Working capital€465,606within the sector's middle half▼ 7.6%€464,581within the sector's middle half▼ 0.2%€416,081within the sector's middle half▼ 10.4%€302,318within the sector's middle half▼ 27.3%€84,423within the sector's middle half-
Solvency73.6%above the sector's middle half▼ 6.6pp74.8%above the sector's middle half▲ 1.2pp75.8%above the sector's middle half▲ 1.0pp42.9%within the sector's middle half▼ 32.9pp26.7%within the sector's middle half-
Current ratio2.85above the sector's middle half▼ 0.932.90above the sector's middle half▲ 0.063.01above the sector's middle half▲ 0.102.11within the sector's middle half▼ 0.891.24within the sector's middle half-
Return on assets (ROA)-2.7%below the sector's middle half▼ 2.2pp1.4%within the sector's middle half▲ 4.1pp-8.1%below the sector's middle half▼ 9.5pp-10.2%below the sector's middle half▼ 2.2pp-6.5%below the sector's middle half-
Staff (FTE)5.1within the sector's middle half▲ 10.9%5.1within the sector's middle half=5.3within the sector's middle half▲ 3.9%5.5within the sector's middle half▲ 3.8%5.3within the sector's middle half-
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
Multiple fiscal year ends fall in the same calendar year; an annual trend is not displayed.
Balance-sheet composition
2025 in colour, 2025 as the grey bar beneath
Assets €1.1m
Fixed assets
€620,839 ▼ 6.0%
Current assets
€431,664 ▼ 24.7%
Equity and liabilities €1.1m
Equity
€281,323 ▼ 46.9%
Debt
€771,180 ▲ 9.5%
Debt's share of the balance-sheet total rises from 57.1% to 73.3%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€8,556▲
2025 · -€66,084
Cash flow
-€14,492▲
2025 · -€114,629
Quick ratio
0.51▼
2025 · 1.29
Debt to equity
2.74▲
2025 · 1.33
ROE
-24.3%▼
2025 · -23.8%
Interest coverage
0.37▲
2025 · -1.17
Debt ≤ 1 year
€347,241▲
2025 · €271,201
Debt > 1 year
€423,939▼
2025 · €429,907
Income taxes
-€9▼
2025 · €1
Staff costs
€200,708▼
2025 · €359,343
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,165 companies that looked in July 2024 the way this one looks now, 2.6% went bankrupt within 24 months and 94% are still going.
- Micro
- 10 to 20 years old
- solvency 10 to 30%
- a small loss
2.6%
went bankrupt
3.0%
stopped otherwise
94%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% 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 497,340 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% | 1.8% |
| 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 2,165 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 | 2022 | 2023 | 2024 | 2025 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €14,667 | €720 | - |
| Remuneration, social security and pensions62 | €231,936 | €276,213 | €298,666 | €359,343 | €200,708 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €37,034 | €33,995 | €30,500 | €11,563 | €53,937 | - |
| Other operating charges640/8 | €3,585 | €3,141 | €4,499 | €10,117 | €636 | - |
| Non-recurring operating charges66A | - | - | €524 | - | €577 | - |
| Gross operating margin9900 | €290,361 | €378,668 | €309,975 | €303,376 | €210,477 | - |
| Operating profit (loss)9901 | €17,805 | €65,320 | -€24,214 | -€77,647 | -€45,381 | - |
| Financial income75/76B | €9,156 | €10,622 | €12,725 | €8,086 | €360 | - |
| Recurring financial income75 | €9,156 | €10,622 | €12,725 | €8,086 | €360 | - |
| Financial charges65/66B | €53,132 | €60,012 | €60,447 | €56,631 | €23,418 | - |
| Recurring financial charges65 | €53,132 | €60,012 | €60,447 | €56,631 | €23,418 | - |
| Profit (loss) for the period before taxes9903 | -€26,171 | €15,929 | -€71,935 | -€126,192 | -€68,439 | - |
| Income taxes67/77 | - | €2,195 | -€2,095 | €1 | -€9 | - |
| Profit (loss) for the period9904 | -€26,171 | €13,735 | -€69,840 | -€126,193 | -€68,430 | - |
| Profit (loss) for the period to be appropriated9905 | -€26,171 | €13,735 | -€69,840 | -€126,193 | -€68,430 | - |
| Line | 2022 | 2023 | 2024 | 2025 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €967,219 | €970,421 | €864,943 | €1.2m | €1.1m | - |
| Fixed assets21/28 | €249,733 | €261,906 | €241,592 | €660,471 | €620,839 | - |
| Tangible fixed assets22/27 | €119,733 | €96,906 | €76,592 | €595,471 | €620,839 | - |
| Land and buildings22 | €113,668 | €85,802 | €68,696 | €445,142 | €442,969 | - |
| Plant, machinery and equipment23 | €4,894 | €5,253 | €3,339 | €13,998 | €16,896 | - |
| Furniture and vehicles24 | €1,171 | €5,851 | €4,558 | €2,821 | €3,504 | - |
| Leasing and similar rights25 | - | - | - | €133,510 | €157,470 | - |
| Financial fixed assets28 | €130,000 | €165,000 | €165,000 | €65,000 | €0 | - |
| Current assets29/58 | €717,486 | €708,515 | €623,351 | €573,519 | €431,664 | - |
| Stocks and contracts in progress3 | €338,860 | €397,504 | €364,414 | €224,287 | €254,530 | - |
| Stocks30/36 | €338,860 | €397,504 | €364,414 | €224,287 | €254,530 | - |
| Amounts receivable within one year40/41 | €134,865 | €143,174 | €149,594 | €179,994 | €145,507 | - |
| Trade receivables40 | €95,859 | €95,249 | €93,181 | €95,937 | €128,453 | - |
| Other amounts receivable41 | €39,006 | €47,924 | €56,413 | €84,056 | €17,054 | - |
| Current investments50/53 | €16,427 | €16,427 | €8,691 | €8,691 | €8,691 | - |
| Cash at bank and in hand54/58 | €214,920 | €144,716 | €91,218 | €151,843 | €19,208 | - |
| Deferred charges and accrued income490/1 | €12,415 | €6,695 | €9,434 | €8,705 | €3,727 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €967,219 | €970,421 | €864,943 | €1.2m | €1.1m | - |
| Equity10/15 | €712,051 | €725,785 | €655,945 | €529,753 | €281,323 | - |
| Contributions10/11 | €257,750 | €257,750 | €257,750 | €257,750 | €257,750 | - |
| Reserves13 | €454,301 | €468,035 | €398,195 | €272,003 | €23,573 | - |
| Non-distributable reserves130/1 | €25,775 | €25,775 | - | - | - | - |
| Reserves not available under the articles1311 | €25,775 | €25,775 | - | - | - | - |
| Distributable reserves133 | €428,526 | €442,260 | €398,195 | €272,003 | €23,573 | - |
| Amounts payable17/49 | €255,168 | €244,635 | €208,998 | €704,237 | €771,180 | - |
| Amounts payable after more than one year17 | - | - | - | €429,907 | €423,939 | - |
| Financial debts170/4 | - | - | - | €429,907 | €423,939 | - |
| Amounts payable within one year42/48 | €251,880 | €243,934 | €207,270 | €271,201 | €347,241 | - |
| Current portion of amounts payable after more than one year42 | - | - | - | €48,505 | €52,188 | - |
| Trade debts44 | €142,019 | €95,518 | €109,864 | €188,118 | €211,345 | - |
| Suppliers440/4 | €142,019 | €95,518 | €109,864 | €188,118 | €211,345 | - |
| Taxes, remuneration and social security45 | €40,289 | €45,200 | €31,920 | €34,578 | €38,708 | - |
| Taxes450/3 | €553 | €49 | €49 | €1,066 | €88 | - |
| Remuneration and social security454/9 | €39,736 | €45,151 | €31,871 | €33,512 | €38,619 | - |
| Other amounts payable47/48 | €69,571 | €103,216 | €65,486 | - | €45,000 | - |
| Accrued charges and deferred income492/3 | €3,289 | €701 | €1,728 | €3,129 | - | - |
| Line | 2022 | 2023 | 2024 | 2025 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€26,171 | €13,735 | -€69,840 | -€126,193 | -€68,430 | - |
| + Depreciation and write-downs630 | €37,034 | €33,995 | €30,500 | €11,563 | €53,937 | - |
| Operating cash flow (approximation) | €10,863 | €47,729 | -€39,340 | -€114,629 | -€14,492 | - |
| Investment in fixed assets (approximation) | - | -€46,168 | -€10,186 | -€430,442 | - | - |
| Change in cash | - | -€70,204 | -€53,498 | €60,625 | - | - |
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
2026
25-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 25 days late
2025
29-10
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
31-03
Financial
Weakest financial yearnet -€126,193
Net result drops to -€126,193, the lowest in the series; recovery starts the following year.
2024
22-10
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2023
02-10
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
31-03
Financial
Back to profitnet €13,735
Net result €13,735 after 3 loss-making years.
2022
31-10
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2021
29-10
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2020
16-11
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 16 days late
2019
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2018
29-10
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
30-10
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 6 acts read
About the unread acts
We know of 6 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
6 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, Oostende · 1 establishment unit since 2007
Ground area
181 m²
Building footprint
181 m²
Volume, LiDAR
1,995 m³
Parcel 35013A0355/00F000, Flanders · tallest building 14.2 m, ±4 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Breidelstraat 5, 8400 Oostende
since 20072.228.734.158
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 35013A0355/00F000 | Flanders | 181 m² | 1 · 181 m² | 14.2 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
2 ownersChain of control
- Healis Holding
- PIERS
Highest known parent: Healis Holding. The sources do not say who stands above it.
Owners 2
- Healis Holdingparent100%
- SIBL-INCparentSourceaccounts SIBL-INC 202499.76%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Public money · subsidies and aid
Flemish government
2022 to 2024 · 3 entries · 28,449 EUR awarded · 28,449 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 6,011 EUR | 6,011 EUR |
| 2023 | 1 | 11,766 EUR | 11,766 EUR |
| 2022 | 1 | 10,672 EUR | 10,672 EUR |
Recognitions · licences · registrations
Food safety, FASFC
1 siteOostende2.228.734.158
Legal Entity Identifier
699400OI2AN7MJHIHB25
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Of 5,220 companies in sector 47730 we hold annual accounts for 3,862. 3,514 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
Founded25-04-2007
Fiscal year end31-12
Activities, NACEBEL 2025
47730Retail sale of pharmaceutical products
47741Retail sale of medical and orthopaedic goods, excluding prescription glasses and lenses
47750Retail sale of cosmetics and toilet articles
E-invoicing
Reachable via Peppol
Peppol ID
0208:0889047659
Also
9925:BE0889047659
Registered
02-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.