Result
The result rose in 2025: different schema filed.
The result rose in 2025: different schema filed.
Debts rose by €1.9m in 2025.
Green is investment, beige is depreciation. Machinery stands 3294.8% higher than in 2024.
Short-term debts rose from €490,277 to €2.4m.
Higher net result than 95% of companies in architecture and engineering. Sector median €26,976 · 2,564 companies.
The dashed line is the sector median: 0.1% across 14,828 companies (NACE 71, micro).
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 71, micro). It does better than 24% of them on solvency, 8% on liquidity, 74% on profitability and 96% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 7,976 companies had the same profile as PILTEC has now. Each dot stands for 20 companies, two years later.
Another 0.3% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of PILTEC itself is lower: 0.2% within 12 months. It rests on far more data about PILTEC than the profile alone.
The method was tested on the 497,447 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 7,976 companies, not a prediction for PILTEC. 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.
Liquidity is insufficient, with a current ratio of 0.75 (1.25 in 2024), below 1. Short-term debt is 71.8% and cash 5.8% of total assets. 77.8% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 2 accounts on average 6 days after the deadline. In the sector (NACE 71), the median for financial year 2024 was 8 days before the deadline, and 34% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| PILTEC Waterloo | €3.4m | €1.3m | 22.2% | 1.4 |
| Optimum by Callens Waregem | €3.0m | €1.0m | 1.7% | 3 |
| SECURE-IC Watermael-Boitsfort | €2.6m | €0.7m | 7.8% | 2.5 |
| HENSOLDT NEXEYA BELGIUM Mouscron | €2.3m | €0.6m | 23.7% | 1 |
| Hyve Genk | €4.5m | €1.1m | -82.5% | 5 |
| CIOC Energy Tielt | €1.8m | €0.5m | 44.7% | 1.8 |
| Komotion Haaltert | €2.4m | €1.3m | 8.8% | 4.2 |
These companies have the same main activity as PILTEC: engineering and related technical consultancy, excluding land surveyors (NACE 71121). They are comparable in size and age: total assets between €1.8m and €4.5m, founded between 2019 and 2024.
The balance sheet grew most in 2025 through fixed assets.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
The turnover shown is an estimate from the gross margin.
Turnover ≈ €2.3m. Estimated: probably between €1.6m and €3.8m.
Higher than 25% of 2,566 companies in 2025.
Higher than 15% of 2,522 companies in 2025.
Higher than 84% of 2,543 companies in 2025.
Net result: top quarter · Equity: top quarter · Balance sheet total: top quarter · Working capital: bottom quarter · Staff: middle half
Staff costs divided by the average number of full-time equivalents.
In 2025, 4 people joined and 1 left.
| Line | Trend | 2025 | 2024 |
|---|---|---|---|
| Balance sheet: assets | |||
20/58 |
3.4m | 732,304 | |
21/28 |
1.6m | 120,305 | |
21 |
537 | - | |
22/27 |
1.6m | 108,305 | |
23 |
80,864 | 2,382 | |
24 |
39,271 | 5,471 | |
26 |
1.4m | 100,452 | |
28 |
12,000 | 12,000 | |
29/58 |
1.8m | 611,999 | |
3 |
1.1m | 396,559 | |
30/36 |
1.1m | 396,559 | |
40/41 |
532,102 | 97,233 | |
40 |
532,102 | 87,630 | |
41 |
- | 9,603 | |
54/58 |
194,941 | 105,646 | |
490/1 |
8,670 | 12,561 | |
| Balance sheet: equity and liabilities | |||
10/49 |
3.4m | 732,304 | |
10/15 |
748,554 | 241,027 | |
10/11 |
100,000 | 100,000 | |
14 |
648,554 | 141,027 | |
16 |
200,000 | - | |
160/5 |
200,000 | - | |
164/5 |
200,000 | - | |
17/49 |
2.4m | 491,277 | |
17 |
2,833 | - | |
170/4 |
2,833 | - | |
42/48 |
2.4m | 490,277 | |
42 |
11,094 | - | |
44 |
1.4m | 118,187 | |
440/4 |
1.4m | 118,187 | |
46 |
537,915 | 313,000 | |
45 |
216,933 | 43,989 | |
450/3 |
202,520 | 43,989 | |
454/9 |
14,413 | - | |
47/48 |
300,221 | 15,101 | |
492/3 |
1,221 | 1,000 | |
| Income statement | |||
76A |
62,639 | 48 | |
9900 |
1.3m | 211,468 | |
62 |
66,324 | - | |
630 |
162,471 | 4,943 | |
640/8 |
2,463 | 50 | |
66A |
200,000 | - | |
9901 |
918,644 | 206,475 | |
75/76B |
1,490 | - | |
75 |
1,490 | - | |
65/66B |
2,046 | 6,459 | |
65 |
2,046 | 6,459 | |
9903 |
918,088 | 200,016 | |
67/77 |
110,562 | 43,989 | |
9904 |
807,527 | 156,027 | |
9905 |
807,527 | 156,027 | |
| Appropriation of the result | |||
9906 |
948,554 | 156,027 | |
14P |
141,027 | - | |
694/7 |
300,000 | 15,000 | |
695 |
300,000 | 15,000 | |
| Social balance sheet | |||
9087 |
1.4 | - | |
Hours worked1013 |
2,152 | - | |
| Document | |||
The notes to these accounts have 16 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 27-08-2026.
2025 annual accounts filed 27 days after the deadline. Filed on 27 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00499764.
| Line | Trend | 2025 | 2024 |
|---|---|---|---|
| 1.1m | 211,418 | ||
| 969,998 | 160,970 | ||
| 1.8m | 126,309 | ||
| 89,295 | - | ||
| -610,170 | 121,722 | ||
| 22.2% | 32.9% | ||
| 0.75 | 1.25 | ||
| 0.30 | 0.44 | ||
| 3.24 | 2.04 | ||
| 107.9% | 64.7% | ||
| 23.9% | 21.3% | ||
| over 100 | 32.73 |
EBIT margin: not included in this filing.
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 31-12-2025 |
|---|---|
| Employees at the balance-sheet date | 3 |
| full-time | 3 |
| in full-time equivalents | 3 |
| 1.4 | |
| On a permanent contract | 2 |
| Joined | 4 |
| Left | 1 |
Source: social balance sheet in the 2025 annual accounts
| Item | 2025 | 2024 |
|---|---|---|
| Tangible fixed assets | €1.8m | €114,309 |
| Intangible fixed assets | €620 | - |
| Financial fixed assets | - | €12,000 |
| €162,471 | €4,943 |
Source: notes to the 2024 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is over 4.4 times that of 2024.
Debt's share of the balance-sheet total rises from 67.1% to 71.9%. Equity and debt are higher.
PILTEC has no parent and no holdings in its annual accounts. HAGO SOLUTIONS is the only director. PILTEC shares no director with another company.
| LAMBERT & F. -D.
establishment since 01-01-2024 · founded in 2000 · group GROUPE LAMBERT HOLDING |
59 FTE (2025) 0473.161.743 |
| CASPIAN TRADITION
registered office since 02-08-1995 · founded in 1995 |
17 FTE (2026) 0454.732.337 |
| MATAM
registered office since 01-01-1973 · founded in 1972 |
1 FTE (2025) 0412.827.149 |
| DELTA FOOD
registered office since 22-05-2017 · founded in 2017 |
26 FTE (2025) 0675.895.901 |
| INTERNATIONAL DISTRIBUTION Co
registered office since 01-04-2023 · founded in 2022 |
total assets €2.1m (2025) 0784.388.817 |
| DRVO
registered office since 31-01-2024 · founded in 2024 · negative equity (2025) |
total assets €1.8m (2025) 1005.449.045 |
| B.P.H.
registered office since 01-12-1983 · founded in 1983 · accounts filed late |
9.7 FTE (2024) 0424.195.747 |
| TAKE CARE FOOD 1
registered office since 04-07-2014 · founded in 2014 |
17 FTE (2025) 0555.720.324 |
| Etablissements LHOIR ET MARTEAU
registered office since 01-01-1976 · founded in 1975 |
16 FTE (2025) 0415.575.516 |
| Struktura Build
registered office since 10-06-2016 · founded in 2016 |
total assets €1.6m (2025) 0656.553.408 |
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
On 29 November 2023, PILTEC was incorporated as a private limited company by one natural person, with a starting capital of €100,000.12 HAGO SOLUTIONS has served as director since 2023.3 The company has filed 2 sets of annual accounts, the latest for financial year 2025.3
| Establishment | Since | Unit number |
|---|---|---|
| Avenue des Pâquerettes 55 registered office 1410 Waterloo | 29-11-2023 | 2.354.675.790 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 25762F0043/00T003 | 1,433 m² | 1 · 832 m² | 6.3 m · 2 |
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