PILAR
ActiveSummary
PILAR has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €559k and a net result of €191k. Equity is shrinking by ~42.3% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2026. Its solvency ranks better than 62% of 14128 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability88▲+70
Solvency71▲+49
Growth78▲+46
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €45k at 30 days acceptable
Liquidity ample (current ratio 20.01 against 5.42 in 2024; short-term debt: 4.9% and cash: 46.2% of total assets), but 54% 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
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
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 →
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
46%
Return on assets
15.7%
Age of the figures
12 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 16-04-2026, 14 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
14 d early
2024
1 d early
2023
26 d early
2022
26 d early
2021
33 d early
2020
292 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€559k
2024 · €-32k
Total assets
€1.21M▲ 7.3%
2024 · €1.13M
Net result
€191k
2024 · €-11k
Working capital
€1.14M▲ 23.3%
2024 · €921k
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
Line20212022202320242025
Operating result€4k€-47k€-22k▲ 54.0%€-10k▲ 51.4%€276k
Net result€2k€-47k€-22k▲ 53.2%€-11k▲ 51.9%€191k
Equity€48k▲ 5.5%€529▼ 98.9%€-22k€-32k▼ 49.3%€559k
Total assets€93k▲ 0.3%€46k▼ 51.2%€705k▲ 1,445%€1.13M▲ 60.4%€1.21M▲ 7.3%
Debt€46k▼ 4.7%€45k▼ 1.1%€727k▲ 1,511%€1.16M▲ 60.0%€655k▼ 43.7%
Working capital€48k▲ 5.5%€-2k€651k€921k▲ 41.4%€1.14M▲ 23.3%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €276k after a loss of €10k in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.21M
Fixed assets
€19k ▲ 1,121%
Current assets
€1.20M ▲ 5.8%
Equity and liabilities €1.21M
Equity
€559k
Debt
€655k
Debt finances 54.0% of the balance-sheet total.
Key figures and ratios
EBITDA
€284k▲
2024 · €-10k
Cash flow
€199k▲
2024 · €-10k
Current ratio
20.01▲
2024 · 5.42
Quick ratio
9.62▲
2024 · 0.18
Debt to equity
1.17▲
2024 · -36.04
ROE
34.2%
ROA
15.7%▲
2024 · -0.9%
Interest coverage
6.53▲
2024 · -55.26
Debt ≤ 1 year
€60k▼
2024 · €208k
Debt > 1 year
€555k▼
2024 · €955k
Income taxes
€42k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €230 | €582 | €582 | €8k | ▲ 1,248% |
| Other operating charges640/8 | - | €481 | €2k | €2k | €12k | ▲ 516% |
| Gross operating margin9900 | €4k | €-46k | €-19k | €-8k | €296k | ▲ 3,800% |
| Operating profit (loss)9901 | €4k | €-47k | €-22k | €-10k | €276k | ▲ 2,738% |
| Financial income75/76B | - | - | - | €0 | €0 | ▼ 100% |
| Recurring financial income75 | €0 | - | - | €0 | €0 | ▼ 100% |
| Financial charges65/66B | - | €436 | €597 | €179 | €44k | ▲ 24,206% |
| Recurring financial charges65 | €1k | €436 | €597 | €179 | €44k | ▲ 24,206% |
| Profit (loss) for the period before taxes9903 | €2k | €-47k | €-22k | €-11k | €233k | ▲ 2,285% |
| Income taxes67/77 | - | - | - | - | €42k | - |
| Profit (loss) for the period9904 | €2k | €-47k | €-22k | €-11k | €191k | ▲ 1,891% |
| Profit (loss) for the period to be appropriated9905 | €2k | €-47k | €-22k | €-11k | €191k | ▲ 1,891% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €93k | €46k | €705k | €1.13M | €1.21M | ▲ 7.3% |
| Fixed assets21/28 | - | €3k | €2k | €2k | €19k | ▲ 1,121% |
| Tangible fixed assets22/27 | - | €3k | €2k | €2k | €19k | ▲ 1,121% |
| Plant, machinery and equipment23 | - | - | - | - | €728 | - |
| Furniture and vehicles24 | - | €3k | €2k | €2k | €18k | ▲ 1,073% |
| Current assets29/58 | €93k | €43k | €703k | €1.13M | €1.20M | ▲ 5.8% |
| Stocks and contracts in progress3 | €58k | €0 | €672k | €1.09M | €621k | ▼ 43.2% |
| Stocks30/36 | - | - | €656k | €969k | €615k | ▼ 36.5% |
| Contracts in progress37 | - | €0 | €16k | €124k | €6k | ▼ 95.4% |
| Amounts receivable within one year40/41 | €17k | €21k | €7k | €6k | €14k | ▲ 128% |
| Trade receivables40 | - | €18k | €0 | - | €4k | - |
| Other amounts receivable41 | - | €3k | €7k | €6k | €10k | ▲ 62.1% |
| Cash at bank and in hand54/58 | €18k | €22k | €24k | €30k | €560k | ▲ 1,770% |
| Deferred charges and accrued income490/1 | - | - | €244 | €611 | €0 | ▼ 100% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €93k | €46k | €705k | €1.13M | €1.21M | ▲ 7.3% |
| Equity10/15 | €48k | €529 | €-22k | €-32k | €559k | ▲ 1,830% |
| Contributions10/11 | - | €50k | €50k | €50k | €450k | ▲ 800% |
| Reserves13 | - | - | - | - | €109k | - |
| Distributable reserves133 | - | - | - | - | €109k | - |
| Profit (loss) carried forward14 | €-2k | €-49k | €-72k | €-82k | €0 | ▲ 100% |
| Amounts payable17/49 | €46k | €45k | €727k | €1.16M | €655k | ▼ 43.7% |
| Amounts payable after more than one year17 | - | - | €675k | €955k | €555k | ▼ 41.9% |
| Financial debts170/4 | - | - | €675k | €955k | €555k | ▼ 41.9% |
| Amounts payable within one year42/48 | €46k | €45k | €52k | €208k | €60k | ▼ 71.3% |
| Trade debts44 | €750 | €750 | €9k | €3k | €9k | ▲ 168% |
| Suppliers440/4 | - | €750 | €9k | €3k | €9k | ▲ 168% |
| Advances received on contracts in progress46 | - | - | - | €160k | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | - | €2k | €2k | €2k | €5k | ▲ 136% |
| Taxes450/3 | - | €2k | €2k | €2k | €5k | ▲ 136% |
| Other amounts payable47/48 | - | €42k | €41k | €43k | €46k | ▲ 7.1% |
| Accrued charges and deferred income492/3 | - | - | - | - | €41k | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2k | €-47k | €-22k | €-11k | €191k | ▲ 1,891% |
| + Depreciation and write-downs630 | - | €230 | €582 | €582 | €8k | ▲ 1,248% |
| Operating cash flow (approximation) | €2k | €-47k | €-22k | €-10k | €199k | ▲ 2,072% |
| Investment in fixed assets (approximation) | - | - | €0 | €0 | €-25k | - |
| Change in cash | - | €4k | €2k | €6k | €530k | ▲ 8,901% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
More with these figures Sector benchmark What changed Value indication
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
16-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-09
Financial
Back to profitnet €191k
Net result €191k after 3 loss-making years.
30-09
Financial
Liquidity quadruplescurrent ratio 20.01
Current ratio from 5.42 to 20.01; short-term debt falls from €208k to €60k.
30-09
Financial
Equity above €500kEq €559k
Equity rises from €-32k to €559k.
29-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
04-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-09
Financial
Liquidity times 14current ratio 13.54
Current ratio from 0.95 to 13.54.
04-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-09
Financial
Weakest financial yearnet €-47k
Net result drops to €-47k, the lowest in the series; recovery starts the following year.
28-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
16-02
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 292 days late
2021
30-09
Financial
Back to profitnet €2k
Net result €2k after one loss-making year.
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Herentals · 1 establishment unit since 2019
Ground area
360 m²
Building footprint
74 m²
Volume, LiDAR
650 m³
Parcel 13011E0390/00V003, Flanders · tallest building 11.5 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
PILAR
since 20192.285.037.215
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13011E0390/00V003 | Flanders | 360 m² | 1 · 74 m² | 11.4 m · 3 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.
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Of 9,698 companies in sector 68121 we hold annual accounts for 7,384. 4,605 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
Founded21-01-2019
Fiscal year end30-09
Activities, NACEBEL 2025
68121Development of residential building projects
68122Development of non-residential building projects
Scores and ratios are computed by Checked and are not a credit decision.