PINE ARTS
ActivePINE ARTS has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €175k and a net result of €5k. Equity is growing by ~8.9% per year across the filed fiscal years. Its solvency ranks better than 31% of 27711 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
58
/ 100
Fair
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability70▼-1
Solvency55▼-11
Growth52=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €10k at 30 days acceptable
Liquidity tight (current ratio 1.3 against 1.59 in 2024; short-term debt: 56.6% and cash: 1.5% of total assets), and 70% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six 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 43
Relative position
BE, all sectors
reference
Sector 43
higher
← 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
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
30%
Return on assets
0.8%
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 30-04-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
35 d early
2023
22 d early
2022
18 d early
2021
2 d late
2020
5 d late
2019
30 d early
← before the deadline
after the deadline →
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
22-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€175k▲ 2.5%
2024 · €171k
2018: €51k
2019: €126k
2020: €131k
2021: €88k
2022: €105k
2023: €163k
2024: €171k
2018 → 2025
Total assets
€584k▲ 39.8%
2024 · €418k
2018: €169k
2019: €244k
2020: €349k
2021: €249k
2022: €269k
2023: €394k
2024: €418k
2018 → 2025
Net result
€5k▼ 43.8%
2024 · €8k
2018: €36k
2019: €75k
2020: €5k
2021: €-43k
2022: €18k
2023: €58k
2024: €8k
2018 → 2025
Working capital
€100k▼ 26.0%
2024 · €135k
2018: €31k
2019: €108k
2020: €107k
2021: €57k
2022: €78k
2023: €131k
2024: €135k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€88k-€105k▲ 20.2%€163k▲ 54.8%€171k▲ 5.1%€175k▲ 2.5%
Operating result€-39k-€22k€94k▲ 335%€18k▼ 80.8%€10k▼ 45.1%
Net result€-43k-€18k€58k▲ 227%€8k▼ 85.5%€5k▼ 43.8%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 45% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €584k
Fixed assets
€154k▲ 182%
Current assets
€431k▲ 18.5%
Equity and liabilities €584k
Equity
€175k▲ 2.5%
Debt
€409k▲ 65.7%
The debt ratio rises from 59.0% to 70.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€36k▲
2024 · €33k
Cash flow
€30k▲
2024 · €23k
Solvency
30.0%▼
2024 · 41.0%
Current ratio
1.30▼
2024 · 1.59
Quick ratio
1.19▼
2024 · 1.59
Debt / equity
2.33▲
2024 · 1.44
ROE
2.7%▼
2024 · 4.9%
ROA
0.8%▼
2024 · 2.0%
Interest coverage
6.90▲
2024 · 6.18
Debt
€409k▲
2024 · €247k
Debt ≤ 1 year
€331k▲
2024 · €228k
Debt > 1 year
€78k▲
2024 · €18k
Income taxes
€429▼
2024 · €5k
Staff costs
€193k▲
2024 · €181k
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€418k€584k▲
Fixed assets21/28€54k€154k▲
Tangible fixed assets22/27€51k€150k▲
Plant, machinery and equipment23€24k€19k▼
Furniture and vehicles24€27k€131k▲
Financial fixed assets28€4k€3k▼
Current assets29/58€363k€431k▲
Stocks and contracts in progress3-€37k
Stocks30/36-€37k
Amounts receivable within one year40/41€352k€382k▲
Trade receivables40€318k€363k▲
Other amounts receivable41€35k€19k▼
Cash at bank and in hand54/58€9k€8k▼
Deferred charges and accrued income490/1€2k€4k▲
Equity and liabilities
Total equity and liabilities10/49€418k€584k▲
Equity10/15€171k€175k▲
Contributions10/11€19k€19k=
Reserves13€153k€157k▲
Tax-exempt reserves132€148-
Distributable reserves133€152k€157k▲
Amounts payable17/49€247k€409k▲
Amounts payable after more than one year17€18k€78k▲
Financial debts170/4€18k€78k▲
Amounts payable within one year42/48€228k€331k▲
Current portion of amounts payable after more than one year42€18k€25k▲
Financial debts43€13k€78k▲
Credit institutions430/8€13k€78k▲
Trade debts44€171k€107k▼
Suppliers440/4€171k€107k▼
Advances received on contracts in progress46-€882
Taxes, remuneration and social security45€10k€2k▼
Taxes450/3€834€868▲
Remuneration and social security454/9€10k€1k▼
Other amounts payable47/48€16k€118k▲
Income statement
Code20242025
Remuneration, social security and pensions62€181k€193k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€15k€26k▲
Other operating charges640/8€1k€1k▲
Gross operating margin9900€215k€230k▲
Operating profit (loss)9901€18k€10k▼
Financial income75/76B€660€372▼
Recurring financial income75€660€372▼
Financial charges65/66B€5k€5k▼
Recurring financial charges65€5k€5k▼
Profit (loss) for the period before taxes9903€13k€5k▼
Income taxes67/77€5k€429▼
Profit (loss) for the period9904€8k€5k▼
Profit (loss) for the period to be appropriated9905€8k€5k▼
Appropriation of the result
Profit (loss) to be appropriated9906€8k€5k▼
Transfer from equity791/2-€148
Transfer to equity691/2€8k€5k▼
To other reserves6921€8k€5k▼
The notes to these accounts (13 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
30-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
26-03
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
08-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-09
Financial
Equity above €150kEq €163k ▲54.8%
2 profitable years in a row build equity to €163k.
12-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-09
Financial
Back to profitnet €18k
Net result €18k after one loss-making year.
30-09
Financial
Equity above €100kEq €105k ▲20.2%
Equity rises from €88k to €105k.
02-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 2 days late
2021
30-09
Financial
Weakest financial yearnet €-43k ▼1022%
Net result drops to €-43k, the lowest in the series; recovery starts the following year.
05-05
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 5 days late
2020
31-03
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
30-09
Financial
Highest result since 2018net €75k ▲105%
Operating result €110k, net result €75k, both a record.
30-09
Financial
Equity above €100kEq €126k ▲145%
2 profitable years in a row build equity to €126k.
30-03
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
30-04
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
31-03
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
1 act for this company is 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, Kapellen · 1 establishment unit since 1999
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.
Kapelsestraat 242950 KapellenGround area
459 m²
Building footprint
137 m²
Volume, LiDAR
1,105 m³
Parcel 11902E0219/00Z000, Flanders · tallest building 12.6 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Pine Arts
since 19992.089.982.685
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11902E0219/00Z000 | Flanders | 459 m² | 1 · 137 m² | 12.6 m · 3 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.
Recognitions · licences · registrations
Dual-learning approval
1 live approvalInterieurbouwer duaal (so)
Similar companies · same sector, comparable size
PARKETVLOEREN J. WILS & ZONEN
BE 0476.339.878
Wommelgem · Eq €174k
LECOMTE
BE 0866.267.804
Torhout · Eq €173k
REI PRODUKTEN
BE 0461.062.873
Gent · Eq €173k
SCHILDERWERKEN JOHAN GYSELS
BE 0887.098.751
Merksplas · Eq €177k
NIEUWPARKET
BE 0472.899.447
Aalter · Eq €178k
Of 747 companies in sector 43332 we hold annual accounts for 411. 345 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded08-01-1999
Fiscal year end30-09
Activities, NACEBEL
43332Laying of wooden floor and wall coverings
43320Joinery installation
Sources
Crossroads Bank for EnterprisesNational Bank · 24 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.