PIEVEST
ActiveSummary
PIEVEST has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €143,206 and a net result of -€131,547. Equity remains stable across the filed fiscal years (±1.6% per year). Its solvency ranks better than 19% of 9722 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability31▼-13
Solvency28▼-17
Growth32▼-20
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6,000 at 30 days only on tighter terms
Liquidity short (current ratio 0.04 against 0.3 in 2023; short-term debt: 53.5% and cash: 0.6% of total assets), and 97% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
3%
Return on assets
-2.7%
Age of the figures
21 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 19% of 9722 sector peers (2024).
NBB · sector comparisonPosition among 9722 sector peers
Solvency
better than 19%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 24-06-2025, 37 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
not confirmed
2024
37 d early
2023
35 d early
2022
41 d early
2021
97 d early
2020
38 d early
2019
25 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 46 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, abbreviated schema
Equity
€143,206▼ 82.9%
2023 · €838,308
Total assets
€4.8m▲ 14.3%
2023 · €4.2m
Net result
-€131,547
2023 · €12,970
Working capital
-€2.5m▼ 176%
2023 · -€891,897
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€244,604▼ 32.3%€296,208▲ 21.1%€252,499▼ 14.8%€103,567▼ 59.0%€22,673▼ 78.1%
Net result€156,718▼ 32.1%€210,379▲ 34.2%€172,080▼ 18.2%€12,970▼ 92.5%-€131,547
Equity€922,879▲ 20.5%€1.0m▲ 12.0%€825,338▼ 20.1%€838,308▲ 1.6%€143,206▼ 82.9%
Total assets€3.0m▲ 12.3%€3.1m▲ 4.1%€3.2m▲ 0.6%€4.2m▲ 33.4%€4.8m▲ 14.3%
Debt€2.1m▲ 9.1%€2.1m▲ 0.7%€2.3m▲ 10.7%€3.4m▲ 44.4%€4.6m▲ 37.8%
Working capital-€167,729-€55,959▲ 66.6%-€403,513▼ 621%-€891,897▼ 121%-€2.5m▼ 176%
Staff (FTE)000
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen three years in a row; 2024 is 78% below 2023 and is the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €4.8m
Fixed assets
€4.7m ▲ 22.5%
Current assets
€111,599 ▼ 70.2%
Equity and liabilities €4.8m
Equity
€143,206 ▼ 82.9%
Provisions
€30,449 ▲ 361%
Debt
€4.6m ▲ 37.8%
Debt's share of the balance-sheet total rises from 79.9% to 96.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€263,861▼
2023 · €274,229
Cash flow
€109,641▼
2023 · €183,632
Current ratio
0.04▼
2023 · 0.30
Debt to equity
32.39▲
2023 · 4.02
ROE
-91.9%▼
2023 · 1.5%
ROA
-2.7%▼
2023 · 0.3%
Interest coverage
1.86▼
2023 · 2.95
Debt ≤ 1 year
€2.6m▲
2023 · €1.3m
Debt > 1 year
€2.0m▼
2023 · €2.0m
Income taxes
€160▲
2023 · €132
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 912 companies that looked in July 2024 the way this one looks now, 2.0% went bankrupt within 24 months and 95% are still going.
- Small
- 10 to 20 years old
- solvency under 10%
- a small loss
2.0%
went bankrupt
2.1%
stopped otherwise
95%
still going
A further 0.8% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.4% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
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 912 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €40,000 | €0 | €150,650 | €95,006 | ▼ 36.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €125,797 | €66,736 | €70,784 | €170,662 | €241,188 | ▲ 41.3% |
| Other operating charges640/8 | - | €5,340 | €5,082 | €5,894 | €5,316 | ▼ 9.8% |
| Non-recurring operating charges66A | - | €548 | €0 | - | - | - |
| Gross operating margin9900 | €375,501 | €368,831 | €328,365 | €280,123 | €269,178 | ▼ 3.9% |
| Operating profit (loss)9901 | €244,604 | €296,208 | €252,499 | €103,567 | €22,673 | ▼ 78.1% |
| Financial income75/76B | - | €0 | €7,962 | €9,232 | €10,192 | ▲ 10.4% |
| Recurring financial income75 | €12 | €0 | €7,962 | €9,232 | €10,192 | ▲ 10.4% |
| Non-recurring financial income76B | - | - | - | - | €0 | - |
| Financial charges65/66B | - | €34,815 | €37,558 | €93,096 | €142,055 | ▲ 52.6% |
| Recurring financial charges65 | €35,241 | €34,815 | €37,558 | €93,096 | €141,982 | ▲ 52.5% |
| Non-recurring financial charges66B | - | - | - | - | €73 | - |
| Profit (loss) for the period before taxes9903 | €209,376 | €261,393 | €222,903 | €19,703 | -€109,190 | ▼ 654% |
| Transfer from deferred taxes780 | - | - | - | €186 | €1,554 | ▲ 736% |
| Transfer to deferred taxes680 | - | - | - | €6,787 | €23,751 | ▲ 250% |
| Income taxes67/77 | €52,658 | €51,014 | €50,823 | €132 | €160 | ▲ 21.0% |
| Profit (loss) for the period9904 | €156,718 | €210,379 | €172,080 | €12,970 | -€131,547 | ▼ 1,114% |
| Transfer from tax-exempt reserves789 | - | - | - | €744 | €4,661 | ▲ 527% |
| Transfer to tax-exempt reserves689 | - | - | - | €27,147 | €71,254 | ▲ 162% |
| Profit (loss) for the period to be appropriated9905 | €156,718 | €210,379 | €172,080 | -€13,433 | -€198,141 | ▼ 1,375% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.0m | €3.1m | €3.2m | €4.2m | €4.8m | ▲ 14.3% |
| Fixed assets21/28 | €2.8m | €2.7m | €2.8m | €3.8m | €4.7m | ▲ 22.5% |
| Intangible fixed assets21 | €200 | €100 | €0 | - | - | - |
| Tangible fixed assets22/27 | €2.3m | €2.3m | €2.4m | €3.6m | €4.5m | ▲ 24.3% |
| Land and buildings22 | - | €2.3m | €2.3m | €3.6m | €4.4m | ▲ 24.0% |
| Furniture and vehicles24 | - | €38,964 | €30,915 | €24,867 | €39,692 | ▲ 59.6% |
| Financial fixed assets28 | €500,000 | €405,000 | €405,000 | €255,000 | €250,000 | ▼ 2.0% |
| Current assets29/58 | €167,395 | €406,451 | €398,526 | €375,104 | €111,599 | ▼ 70.2% |
| Stocks and contracts in progress3 | €48,299 | €18,686 | €0 | - | - | - |
| Stocks30/36 | - | €18,686 | €0 | - | - | - |
| Amounts receivable within one year40/41 | €76,572 | €32,155 | €255,745 | €302,187 | €79,959 | ▼ 73.5% |
| Trade receivables40 | - | €3,174 | €6,606 | €40,848 | €49,069 | ▲ 20.1% |
| Other amounts receivable41 | - | €28,981 | €249,139 | €261,339 | €30,890 | ▼ 88.2% |
| Cash at bank and in hand54/58 | €41,227 | €354,246 | €139,543 | €70,819 | €27,428 | ▼ 61.3% |
| Deferred charges and accrued income490/1 | - | €1,364 | €3,238 | €2,097 | €4,212 | ▲ 101% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.0m | €3.1m | €3.2m | €4.2m | €4.8m | ▲ 14.3% |
| Equity10/15 | €922,879 | €1.0m | €825,338 | €838,308 | €143,206 | ▼ 82.9% |
| Contributions10/11 | - | €250,000 | €250,000 | €250,000 | €250,000 | = |
| Reserves13 | €25,000 | €25,000 | €25,000 | €51,404 | €91,346 | ▲ 77.7% |
| Non-distributable reserves130/1 | - | €25,000 | €25,000 | €0 | - | - |
| Reserves not available under the articles1311 | - | €25,000 | €25,000 | €0 | - | - |
| Tax-exempt reserves132 | - | - | - | €26,404 | €91,346 | ▲ 246% |
| Distributable reserves133 | - | - | - | €25,000 | €0 | ▼ 100% |
| Profit (loss) carried forward14 | €647,879 | €758,258 | €550,338 | €536,904 | -€198,141 | ▼ 137% |
| Provisions and deferred taxes16 | - | - | - | €6,601 | €30,449 | ▲ 361% |
| Deferred taxes168 | - | - | - | €6,601 | €30,449 | ▲ 361% |
| Amounts payable17/49 | €2.1m | €2.1m | €2.3m | €3.4m | €4.6m | ▲ 37.8% |
| Amounts payable after more than one year17 | €1.7m | €1.6m | €1.5m | €2.0m | €2.0m | ▼ 4.3% |
| Financial debts170/4 | - | €1.6m | €1.5m | €2.0m | €2.0m | ▼ 4.3% |
| Amounts payable within one year42/48 | €335,125 | €462,410 | €802,039 | €1.3m | €2.6m | ▲ 103% |
| Current portion of amounts payable after more than one year42 | - | €115,499 | €117,160 | €164,691 | €181,232 | ▲ 10.0% |
| Trade debts44 | €244 | €0 | €6,468 | €1,409 | €41,257 | ▲ 2,829% |
| Suppliers440/4 | - | €0 | €6,468 | €1,409 | €41,257 | ▲ 2,829% |
| Advances received on contracts in progress46 | - | - | €17,950 | €0 | - | - |
| Taxes, remuneration and social security45 | - | €27,979 | €27,642 | €11,841 | €24,904 | ▲ 110% |
| Taxes450/3 | - | €27,979 | €27,642 | €11,841 | €24,904 | ▲ 110% |
| Other amounts payable47/48 | - | €318,932 | €632,819 | €1.1m | €2.3m | ▲ 114% |
| Accrued charges and deferred income492/3 | - | €15,503 | €18,660 | €52,933 | €103,724 | ▲ 96.0% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €156,718 | €210,379 | €172,080 | €12,970 | -€131,547 | ▼ 1,114% |
| + Depreciation and write-downs630 | €125,797 | €66,736 | €70,784 | €170,662 | €241,188 | ▲ 41.3% |
| Operating cash flow (approximation) | €282,515 | €277,115 | €242,864 | €183,632 | €109,641 | ▼ 40.3% |
| Investment in fixed assets (approximation) | - | €47,937 | -€96,415 | -€1.2m | -€1.1m | ▲ 11.5% |
| Change in cash | - | €313,019 | -€214,703 | -€68,724 | -€43,392 | ▲ 36.9% |
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
2025
24-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Weakest financial yearnet -€131,547
Net result drops to -€131,547, the lowest in the series.
26-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
20-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
25-04
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Equity above €1mEq €1.0m ▲12%
4 profitable years in a row build equity to €1.0m.
23-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
06-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Highest result since 2018net €230,781 ▲46.6%
Operating result €361,204, net result €230,781, both a record.
31-12
Financial
Liquidity doublescurrent ratio 1.01
Current ratio from 0.50 to 1.01.
02-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
06-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
27-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Gent · 1 establishment unit since 2016
Ground area
2,172 m²
Building footprint
267 m²
Volume, LiDAR
1,152 m³
Parcel 44082A0473/00A000, Flanders · tallest building 20.6 m. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
PIEVEST
since 20162.251.949.723
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44082A0473/00A000 | Flanders | 2,172 m² | 1 · 267 m² | 20.6 m |
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
1 holdingOwners 0
The accounts to 31-12-2024 list no shareholders, and no other source names one.
Holdings 1
-
25%
According to the 2024 annual accounts of PIEVEST and those 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
2023 · 1 entry · 480 EUR awarded · 480 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 480 EUR | 480 EUR |
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Of 11,756 companies in sector 68310 we hold annual accounts for 6,907. 5,265 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
Founded21-03-2016
Fiscal year end31-12
Activities, NACEBEL 2025
68310Real estate agency activities
68110Buying and selling of own real estate
68201Renting and operating of own or leased residential real estate, excluding social housing
68203Renting and operating of own or leased non-residential real estate, excluding land
68204Real estate activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0650598596
Also
9925:BE0650598596
Registered
26-08-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.