PIPE CONSTRUCT
Annual accounts 2025
full format, filed on 14-10-2026, 75 days late€10.6m
▲ 15.3%
€3.2m
▲ 59.8%
€3.5m
▲ 58.3%
€2.6m
▲ 71.8%
25.3%
▲ 15.4 percentage points
1.35
▲ 0.21
Money flows
of every €100 of turnover, €22.60 remains as profit in 2025Balance sheet
balance sheet total €12.8m on 31-12-2025What the company ownsHow it is paid for
in €m
in €m
Position in the sector
25.3%
Higher than 24% of 834 companies in 2025.
1.35
Higher than 35% of 826 companies in 2025.
18.8%
Higher than 91% of 831 companies in 2025.
PIPE CONSTRUCT
Middle half of the sector
80% of the sector
Full accounts in fabricated metal products (NACE 25)
Net result: top quarter · Equity: middle half · Balance sheet total: top quarter · Working capital: top quarter · Staff: middle half
Staff
Men and women9% women
8 men and 0.8 women in full-time equivalents in 2025.
€73,086
Staff costs divided by the average number of full-time equivalents.
level
people who joined
people who left
In 2025, 5 people joined and 5 left. Training hours in 2025: 477. Agency workers: 0.5 on average.
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||||||||||||
20/58 |
12.8m | 8.5m | 9.7m | 3.0m | 7.7m | 11.5m | 6.0m | 6.9m | 7.6m | 11.2m | 9.4m | 8.5m | 7.8m | 8.1m | 7.7m | 7.5m | 7.4m | 6.3m | 4.9m | 5.0m | |
21/28 |
826,830 | 720,746 | 499,356 | 511,029 | 591,595 | 641,274 | 671,951 | 735,371 | 793,257 | 904,624 | 974,737 | 1.2m | 1.4m | 751,560 | 1.1m | 1.6m | 1.2m | 733,416 | 931,748 | 1.1m | |
21 |
1,208 | 5,874 | 10,541 | - | - | - | - | 1,041 | 2,428 | 3,815 | - | - | - | 3,221 | 14,382 | 25,936 | 14,682 | 2,527 | 5,590 | 2,935 | |
22/27 |
798,622 | 689,871 | 463,816 | 486,029 | 566,304 | 615,983 | 646,660 | 709,039 | 764,456 | 871,036 | 940,025 | 1.2m | 1.4m | 742,797 | 1.1m | 1.5m | 1.2m | 730,398 | 925,867 | 1.1m | |
22 |
288,107 | 334,450 | 351,164 | 397,086 | 443,009 | 485,821 | 533,903 | 587,242 | 646,430 | 712,145 | 786,498 | 875,346 | 969,519 | 101,547 | 118,653 | 72,613 | 89,102 | 105,952 | 123,367 | 143,406 | |
23 |
33,336 | 109,332 | 47,601 | 35,643 | 32,514 | 52,648 | 27,401 | 34,001 | 38,022 | 75,849 | 82,361 | 167,082 | 305,598 | 542,397 | 855,557 | 1.4m | 973,103 | 482,901 | 754,686 | 825,970 | |
24 |
477,180 | 243,013 | 60,232 | 50,813 | 86,824 | 72,087 | 79,955 | 87,795 | 80,003 | 83,041 | 71,167 | 122,547 | 131,164 | 79,272 | 106,824 | 90,854 | 125,448 | 130,216 | 47,814 | 88,288 | |
26 |
- | 3,076 | 4,819 | 2,487 | 3,957 | 5,427 | 5,400 | - | - | - | - | - | - | 231 | 3,006 | 5,780 | 8,554 | 11,329 | - | - | |
27 |
- | - | - | - | - | - | - | - | - | - | - | - | - | 19,350 | - | - | - | - | - | - | |
28 |
27,000 | 25,000 | 25,000 | 25,000 | 25,291 | 25,291 | 25,291 | 25,291 | 26,373 | 29,773 | 34,711 | 8,561 | 291 | 5,541 | 3,721 | 991 | 991 | 491 | 291 | 10,619 | |
280/1 |
25,000 | 25,000 | 25,000 | 25,000 | 25,000 | 25,000 | 25,000 | 25,000 | - | - | 25,000 | - | - | - | - | - | - | - | - | - | |
280 |
25,000 | 25,000 | 25,000 | 25,000 | 25,000 | 25,000 | 25,000 | 25,000 | - | - | 25,000 | - | - | - | - | - | - | - | - | - | |
284/8 |
2,000 | - | - | - | 291 | 291 | 291 | 291 | - | - | 9,711 | 8,561 | 291 | 5,541 | 3,721 | 991 | 991 | 491 | - | - | |
285/8 |
2,000 | - | - | - | 291 | 291 | 291 | 291 | - | - | 9,711 | 8,561 | 291 | 5,541 | 3,721 | 991 | 991 | 491 | - | - | |
29/58 |
11.9m | 7.7m | 9.2m | 2.5m | 7.1m | 10.9m | 5.4m | 6.1m | 6.8m | 10.2m | 8.5m | 7.3m | 6.4m | 7.4m | 6.6m | 5.9m | 6.2m | 5.6m | 4.0m | 3.9m | |
3 |
9.0m | 4.3m | 4.5m | 966,457 | 1.2m | 6.2m | 86,731 | 66,707 | - | 155,785 | 4.5m | 340,518 | 2.0m | - | 133,057 | 1.8m | 1.0m | 241,469 | 28,150 | 50,525 | |
37 |
9.0m | 4.3m | 4.5m | 966,457 | 1.2m | 6.2m | 86,731 | 66,707 | - | 155,785 | 4.5m | 340,518 | 2.0m | - | 133,057 | 1.8m | 1.0m | 241,469 | 28,150 | 50,525 | |
40/41 |
2.0m | 3.0m | 3.9m | 203,732 | 264,270 | 3.2m | 958,454 | 1.6m | 2.4m | 7.0m | 3.9m | 3.5m | 1.8m | 3.7m | 4.0m | 2.3m | 4.1m | 3.3m | 3.4m | 3.5m | |
40 |
1.8m | 2.9m | 3.8m | 85,007 | 218,690 | 3.1m | 845,674 | 1.5m | 2.3m | 7.0m | 3.6m | 3.3m | 1.5m | 3.6m | 3.8m | 1.9m | 3.5m | 3.0m | 3.3m | 3.4m | |
41 |
145,933 | 127,399 | 65,510 | 118,724 | 45,581 | 160,221 | 112,780 | 75,595 | 106,107 | 25,078 | 294,415 | 194,637 | 309,047 | 195,960 | 245,246 | 399,144 | 510,689 | 293,949 | 186,088 | 83,989 | |
50/53 |
- | - | - | - | - | - | - | - | - | - | - | 1.6m | 2.4m | 2.0m | 200,000 | 1.3m | 1.0m | - | - | - | |
51/53 |
- | - | - | - | - | - | - | - | - | - | - | 1.6m | 2.4m | 2.0m | 200,000 | 1.3m | 1.0m | - | - | - | |
54/58 |
988,370 | 373,447 | 839,369 | 1.3m | 5.7m | 1.4m | 4.3m | 4.5m | 4.4m | 3.1m | 21,443 | 1.9m | 266,639 | 1.7m | 2.2m | 557,671 | 118,134 | 2.0m | 508,600 | 425,908 | |
490/1 |
30,792 | 62,729 | 25,612 | 16,260 | 15,030 | 15,101 | 9,829 | 5,707 | 1,920 | - | 2,792 | 20,256 | 11,271 | 27,060 | 13,391 | 5,179 | 5,779 | 198 | 15,207 | - | |
| Balance sheet: equity and liabilities | |||||||||||||||||||||
10/49 |
12.8m | 8.5m | 9.7m | 3.0m | 7.7m | 11.5m | 6.0m | 6.9m | 7.6m | 11.2m | 9.4m | 8.5m | 7.8m | 8.1m | 7.7m | 7.5m | 7.4m | 6.3m | 4.9m | 5.0m | |
10/15 |
3.2m | 840,149 | 480,104 | 1.3m | 5.8m | 5.7m | 5.4m | 5.1m | 5.1m | 4.9m | 7.1m | 6.9m | 6.8m | 6.2m | 5.5m | 4.4m | 3.0m | 1.9m | 1.3m | 760,234 | |
10/11 |
150,000 | 150,000 | 150,000 | 150,000 | 150,000 | 150,000 | 150,000 | 150,000 | 150,000 | 150,000 | 150,000 | 150,000 | 150,000 | 150,000 | 150,000 | 150,000 | 150,000 | 150,000 | 150,000 | 150,000 | |
10 |
150,000 | 150,000 | 150,000 | 150,000 | 150,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
100 |
150,000 | 150,000 | 150,000 | 150,000 | 150,000 | 150,000 | 150,000 | 150,000 | 150,000 | 150,000 | 150,000 | 150,000 | 150,000 | 150,000 | 150,000 | 150,000 | 150,000 | 150,000 | 150,000 | 150,000 | |
13 |
3.1m | 669,924 | 239,049 | 1.1m | 5.6m | 4.8m | 4.9m | 4.9m | 4.9m | 2.3m | 2.3m | 2.3m | 2.4m | 2.1m | 2.1m | 2.1m | 1.2m | 33,750 | 33,750 | 33,750 | |
130/1 |
15,000 | 15,000 | 15,000 | 15,000 | 15,000 | 15,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
130 |
15,000 | 15,000 | 15,000 | 15,000 | 15,000 | 15,000 | 15,000 | 15,000 | 15,000 | 15,000 | 15,000 | 15,000 | 15,000 | 15,000 | 15,000 | 15,000 | 15,000 | 15,000 | 15,000 | 15,000 | |
132 |
85,799 | 104,924 | 124,049 | 143,174 | 162,299 | 181,424 | 208,022 | 214,428 | 237,795 | 262,128 | 289,170 | 331,332 | 383,760 | 68,963 | 89,048 | 117,168 | 152,090 | 18,750 | 18,750 | 18,750 | |
133 |
3.0m | 550,000 | 100,000 | 900,000 | 5.4m | 4.6m | 4.6m | 4.6m | 4.6m | 2.0m | 2.0m | 2.0m | 2.0m | 2.0m | 2.0m | 2.0m | 1.0m | - | - | - | |
14 |
16,797 | 5,843 | 74,045 | 79,291 | 99,398 | 748,523 | 418,262 | 108,506 | 50,000 | 2.4m | 4.6m | 4.4m | 4.1m | 4.0m | 3.2m | 2.0m | 1.7m | 1.7m | 1.1m | 576,484 | |
15 |
11,754 | 14,382 | 17,011 | 19,639 | 22,268 | 24,896 | 27,666 | 30,741 | 34,156 | 38,019 | 42,262 | 52,782 | 102,870 | 40,172 | 54,085 | 74,934 | - | - | - | - | |
16 |
701,335 | 861,279 | 226,816 | 47,725 | 54,100 | 60,475 | 79,504 | 532,962 | 542,778 | 555,313 | 569,237 | 590,948 | 617,952 | 455,856 | 750,798 | 1.0m | 1.0m | - | - | - | |
160/5 |
672,736 | 826,305 | 185,467 | - | - | - | - | 430,000 | 430,000 | 430,000 | 430,000 | 430,000 | 430,000 | 430,000 | 714,600 | 967,000 | 967,000 | - | - | - | |
162 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 284,600 | 537,000 | 537,000 | - | - | - | |
164/5 |
672,736 | 826,305 | 185,467 | - | - | - | - | 430,000 | 430,000 | 430,000 | 430,000 | 430,000 | 430,000 | 430,000 | 430,000 | 430,000 | 430,000 | - | - | - | |
168 |
28,600 | 34,975 | 41,350 | 47,725 | 54,100 | 60,475 | 79,504 | 102,962 | 112,778 | 125,313 | 139,237 | 160,948 | 187,952 | 25,856 | 36,198 | 50,677 | 68,660 | - | - | - | |
17/49 |
8.8m | 6.8m | 9.0m | 1.7m | 1.8m | 5.7m | 510,008 | 1.2m | 2.0m | 5.7m | 1.7m | 995,859 | 443,306 | 1.4m | 1.4m | 2.1m | 3.4m | 4.5m | 3.7m | 4.3m | |
17 |
- | - | - | 5,881 | 23,381 | - | - | 6,979 | 23,729 | 40,479 | - | - | - | - | 82,600 | 416,200 | 120,000 | 240,000 | 360,000 | 480,000 | |
170/4 |
- | - | - | 5,881 | 23,381 | - | - | 6,979 | 23,729 | 40,479 | - | - | - | - | 82,600 | 416,200 | 120,000 | 240,000 | 360,000 | 480,000 | |
172 |
- | - | - | - | - | - | - | 6,979 | - | - | - | - | - | - | - | - | - | - | - | - | |
173 |
- | - | - | 5,881 | 23,381 | - | - | - | - | - | - | - | - | - | 82,600 | 416,200 | 120,000 | 240,000 | - | - | |
42/48 |
8.8m | 6.8m | 9.0m | 1.7m | 1.8m | 5.7m | 509,834 | 1.2m | 1.9m | 5.7m | 1.7m | 993,607 | 440,878 | 1.4m | 1.3m | 1.7m | 3.2m | 4.2m | 3.3m | 3.8m | |
42 |
- | - | 5,881 | 17,501 | 17,291 | - | 6,979 | 16,750 | 16,750 | 16,750 | - | - | - | 82,600 | 333,600 | 453,600 | 120,000 | 120,000 | 135,000 | 195,000 | |
43 |
1,972 | - | - | - | - | - | - | - | - | - | 1.2m | - | - | - | - | - | - | 28,887 | 144,443 | 259,999 | |
430/8 |
1,972 | - | - | - | - | - | - | - | - | - | 1.2m | - | - | - | - | - | - | 28,887 | 144,443 | 259,999 | |
44 |
1.0m | 804,458 | 499,178 | 231,775 | 144,321 | 1.5m | 308,992 | 925,035 | 1.7m | 1.3m | 443,965 | 886,166 | 398,781 | 1.2m | 482,865 | 378,278 | 1.9m | 2.7m | 1.4m | 2.6m | |
440/4 |
1.0m | 804,458 | 499,178 | 231,775 | 144,321 | 1.5m | 308,992 | 925,035 | 1.7m | 1.3m | 443,965 | 886,166 | 398,781 | 1.2m | 482,865 | 378,278 | 1.9m | 2.7m | 1.4m | 2.6m | |
46 |
7.0m | 4.4m | 5.7m | 916,195 | 1.1m | 4.2m | 97,079 | 19,412 | 34,512 | - | - | 10,893 | - | 83,940 | - | 178,404 | 774,000 | 1.2m | 1.3m | - | |
45 |
285,127 | 104,887 | 263,934 | 60,179 | 57,343 | 58,041 | 96,784 | 213,995 | 193,167 | 1.6m | 100,779 | 96,548 | 42,098 | 58,042 | 501,902 | 645,056 | 408,042 | 142,791 | 304,337 | 678,108 | |
450/3 |
227,092 | 44,741 | 203,129 | 10,818 | 21,506 | 16,577 | 61,007 | 180,578 | 159,850 | 1.6m | 55,870 | 49,819 | 2,304 | 14,421 | 461,236 | 600,216 | 359,079 | 80,256 | 254,352 | 619,603 | |
454/9 |
58,034 | 60,146 | 60,806 | 49,361 | 35,837 | 41,464 | 35,777 | 33,416 | 33,317 | 35,777 | 44,909 | 46,729 | 39,794 | 43,622 | 40,666 | 44,840 | 48,963 | 62,535 | 49,985 | 58,505 | |
47/48 |
454,417 | 1.5m | 2.5m | 454,417 | 453,987 | - | - | - | - | 2.8m | - | - | - | - | - | 35 | 571 | 1,728 | 1,728 | 1,728 | |
492/3 |
4,887 | 2,380 | 6,541 | 128 | 110 | 285 | 175 | 3,699 | 4,344 | 6,599 | 3,314 | 2,252 | 2,428 | 852 | 6,854 | 3,920 | 2,721 | 2,635 | 9,166 | 2,122 | |
| Income statement | |||||||||||||||||||||
70/76A |
15.3m | 9.0m | 9.8m | 2.6m | 5.2m | 7.5m | 4.1m | 3.0m | - | - | 9.5m | 5.6m | 3.4m | 6.1m | 5.1m | 9.6m | 8.4m | 16.7m | - | - | |
70 |
10.6m | 9.2m | 6.2m | 2.8m | 10.2m | 1.4m | 3.6m | 2.9m | 10.9m | 5.5m | 5.3m | 7.2m | 1.4m | 6.2m | 6.7m | 8.8m | 7.6m | 16.5m | - | - | |
71 |
4.7m | -184,487 | 3.5m | -236,311 | -5.0m | 6.1m | 20,023 | 66,707 | - | - | 4.2m | -1.6m | 2.0m | -133,057 | -1.7m | 765,638 | 786,168 | 213,319 | - | - | |
72 |
- | - | - | - | - | - | - | - | - | - | - | - | 48,764 | - | - | - | - | - | - | - | |
74 |
23,322 | 21,680 | 12,021 | 16,678 | 3,706 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
76A |
47,924 | 10,971 | 115,000 | 3,000 | 18,855 | - | 444,239 | 16,865 | 6,393 | 14,092 | 766 | - | 612,231 | 16,413 | 24,951 | 16,222 | 243,118 | 3,737 | 49,393 | 12,944 | |
9900 |
- | - | - | - | - | - | - | - | 972,978 | 1.8m | - | - | - | - | - | - | - | - | 2.2m | 2.3m | |
60/66A |
12.1m | 7.0m | 8.1m | 2.6m | 5.0m | 7.1m | 3.7m | 2.9m | - | - | 9.3m | 5.3m | 3.4m | 5.1m | 3.4m | 7.8m | 6.9m | 15.7m | - | - | |
60/61 |
- | - | - | - | - | - | - | - | 9.8m | 3.7m | - | - | - | - | - | - | - | - | - | - | |
60 |
9.7m | 4.6m | 6.2m | 1.5m | 3.9m | 5.9m | 2.6m | 1.9m | - | - | 7.4m | 3.8m | 2.1m | 4.2m | 2.0m | 5.2m | 3.6m | 11.0m | - | - | |
600/8 |
9.7m | 4.6m | 6.2m | 1.5m | 3.9m | 5.9m | 2.6m | 1.9m | - | - | 7.4m | 3.8m | 2.1m | 4.2m | 2.0m | 5.2m | 3.6m | 11.0m | - | - | |
61 |
1.6m | 1.1m | 1.0m | 593,849 | 657,733 | 633,171 | 535,494 | 470,908 | - | - | 894,149 | 568,525 | 475,566 | 820,869 | 568,403 | 1.1m | 1.1m | 2.4m | - | - | |
62 |
643,161 | 480,260 | 557,835 | 389,377 | 358,443 | 430,404 | 411,121 | 417,136 | 404,638 | 538,471 | 638,786 | 619,574 | 489,865 | 571,077 | 537,386 | 670,586 | 836,598 | 958,498 | 881,691 | 1.0m | |
630 |
233,368 | 165,241 | 123,033 | 107,555 | 117,132 | 107,318 | 117,601 | 125,028 | 152,328 | 166,485 | 284,638 | 365,279 | 348,672 | 433,298 | 616,713 | 785,503 | 325,478 | 632,089 | 552,025 | 746,154 | |
631/4 |
- | - | - | - | - | - | - | - | - | - | - | - | - | -688,531 | - | - | - | 688,531 | - | - | |
635/8 |
-153,569 | 640,838 | 185,467 | - | - | - | - | - | - | - | - | - | - | -284,600 | -252,400 | - | 967,000 | - | - | - | |
640/8 |
48,548 | 20,707 | 22,712 | 13,398 | 15,111 | 15,573 | 16,434 | 16,426 | 19,725 | 209,716 | 19,832 | 9,602 | 11,450 | 10,177 | 16,929 | 9,614 | 10,836 | 40,253 | 5,960 | 8,773 | |
66A |
0 | - | - | - | - | - | - | - | 2,960 | 45 | - | - | 1,716 | 2,846 | - | 9,116 | - | 5,588 | - | 383 | |
9901 |
3.2m | 2.0m | 1.7m | -41,807 | 138,951 | 399,797 | 414,720 | 55,897 | 393,326 | 846,282 | 225,607 | 253,637 | 14,690 | 1.0m | 1.6m | 1.9m | 1.5m | 987,132 | 717,966 | 511,162 | |
75/76B |
3,357 | 38,630 | 2,628 | 2,629 | 16,366 | 2,907 | 3,079 | 4,116 | 3,914 | 4,423 | 15,346 | 8,761 | 19,591 | 21,774 | 35,320 | 71,190 | 9,361 | 24,376 | 11,560 | 16,893 | |
75 |
3,357 | 38,630 | 2,628 | 2,629 | 16,366 | 2,907 | 3,079 | 4,116 | 3,914 | 4,423 | 15,346 | 8,761 | 19,591 | 21,774 | 35,320 | 71,190 | 9,361 | 24,376 | 11,560 | 16,893 | |
750 |
- | - | - | - | - | - | - | - | - | - | 266 | - | - | - | - | - | - | - | - | - | |
751 |
- | 36,002 | - | - | - | - | - | - | - | - | - | 3,497 | 4,581 | 2,896 | 7,783 | 7,534 | 6,780 | 23,234 | - | - | |
752/9 |
3,357 | 2,628 | 2,628 | 2,629 | 16,366 | 2,907 | 3,079 | 4,116 | - | - | 15,081 | 5,264 | 15,009 | 18,877 | 27,537 | 63,656 | 2,581 | 1,142 | - | - | |
65/66B |
3,919 | 2,504 | 4,891 | 5,776 | 12,503 | 3,820 | 3,823 | 8,033 | 21,944 | 83,943 | 10,881 | 36,844 | 8,788 | 15,959 | 23,078 | 34,176 | 32,900 | 49,287 | 54,224 | 66,808 | |
65 |
3,919 | 2,504 | 4,891 | 5,776 | 12,503 | 3,820 | 3,823 | 8,033 | 21,944 | 83,943 | 10,881 | 36,844 | 8,788 | 15,959 | 23,078 | 34,176 | 32,900 | 49,287 | 54,224 | 66,808 | |
650 |
1,197 | 15 | 186 | 826 | 4,366 | 22 | 200 | 418 | - | - | - | - | 643 | 5,289 | 16,510 | 20,602 | 17,846 | 34,786 | - | - | |
652/9 |
2,722 | 2,489 | 4,705 | 4,950 | 8,137 | 3,798 | 3,623 | 7,616 | - | - | 10,881 | 36,844 | 8,144 | 10,670 | 6,568 | 13,574 | 15,054 | 14,501 | - | - | |
9903 |
3.2m | 2.1m | 1.7m | -44,954 | 142,814 | 398,884 | 413,975 | 51,980 | 375,296 | 766,762 | 230,838 | 225,554 | 636,008 | 1.0m | 1.7m | 1.9m | 1.8m | 960,369 | 724,695 | 473,808 | |
780 |
6,375 | 6,375 | 6,375 | 6,375 | 6,375 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
67/77 |
832,454 | 694,482 | 488,082 | 653 | 47,363 | 114,250 | 134,084 | 26,656 | 125,009 | 242,118 | 52,510 | 50,693 | -1,324 | 304,524 | 538,228 | 620,733 | 531,579 | 363,741 | 222,129 | 174,415 | |
670/3 |
832,454 | 694,482 | 488,082 | 653 | 47,363 | 115,051 | 134,084 | 26,656 | - | - | 52,510 | 50,693 | 738 | 313,124 | 538,228 | 620,733 | 531,579 | 363,741 | - | - | |
77 |
- | - | - | - | - | 801 | - | - | - | - | - | - | 2,062 | 8,600 | - | - | - | - | - | - | |
9904 |
2.4m | 1.4m | 1.2m | -39,232 | 101,826 | 291,353 | 288,726 | 35,139 | 262,823 | 538,568 | 200,038 | 201,865 | 475,235 | 742,799 | 1.1m | 1.3m | 1.2m | 596,629 | 502,566 | 299,393 | |
789 |
19,125 | 19,125 | 19,125 | 19,125 | 19,125 | 38,908 | 21,030 | 23,367 | 24,334 | 27,041 | 42,162 | 52,428 | 21,854 | 20,085 | 28,119 | 34,922 | - | - | - | - | |
689 |
- | - | - | - | - | - | - | - | - | - | - | - | 336,651 | - | - | - | 133,340 | - | - | - | |
9905 |
2.4m | 1.4m | 1.2m | -20,107 | 120,951 | 330,262 | 309,756 | 58,506 | 287,157 | 565,610 | 242,200 | 254,293 | 160,438 | 762,884 | 1.2m | 1.3m | 1.0m | 596,629 | 502,566 | 299,393 | |
| Appropriation of the result | |||||||||||||||||||||
9906 |
2.4m | 1.5m | 1.3m | 79,291 | 869,475 | 748,523 | 418,262 | 108,506 | 2.7m | 5.2m | 4.6m | 4.4m | 4.1m | 4.0m | 3.2m | 3.0m | 2.7m | 1.7m | 1.1m | 576,484 | |
14P |
5,843 | 74,045 | 79,291 | 99,398 | 748,523 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
791/2 |
- | - | 800,000 | 4.5m | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
792 |
- | - | 800,000 | 4.5m | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
691/2 |
2.4m | 450,000 | - | - | 770,077 | - | - | - | 2.6m | - | - | - | - | - | - | 1.0m | 1.0m | - | - | - | |
6921 |
2.4m | 450,000 | - | - | 770,077 | - | - | - | 2.6m | - | - | - | - | - | - | 1.0m | 1.0m | - | - | - | |
694/7 |
- | 1.0m | 2.0m | 4.5m | - | - | - | - | - | 2.8m | - | - | - | - | - | - | - | - | - | - | |
694 |
- | 1.0m | 2.0m | 4.5m | - | - | - | - | - | 2.8m | - | - | - | - | - | - | - | - | - | - | |
| Social balance sheet | |||||||||||||||||||||
9087 |
8.8 | 7.4 | 8.1 | 8 | 8 | 7.5 | 7.5 | 8.1 | 7.9 | 8.8 | 10.7 | 10.7 | 9.5 | 11.5 | 11.8 | 12.6 | 14.1 | 15.3 | 14.9 | 17 | |
Men (FTE)1003 |
8 | 6.6 | 7.2 | 6.8 | 7.1 | 6.5 | 6.7 | 7.3 | - | - | 9.9 | 9.9 | 8.7 | 10.7 | - | - | - | - | - | - | |
Women (FTE)1003 |
0.8 | 0.8 | 0.9 | 1.1 | 0.9 | 1 | 0.8 | 0.8 | - | - | 0.8 | 0.8 | 0.8 | 0.8 | - | - | - | - | - | - | |
Agency workers1501 |
0.5 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
Hours worked1013 |
15,216 | 11,360 | 11,832 | 10,624 | 10,699 | 9,424 | 10,920 | 11,637 | 11,843 | 13,645 | 17,379 | 16,896 | 13,312 | 15,827 | 15,532 | 19,504 | 23,252 | 27,157 | 24,578 | 29,115 | |
| Document | |||||||||||||||||||||
The accounts for 13 older financial years (1993-2005) were filed as documents without figures as data, scans for example.
The notes to these accounts have 63 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 14-10-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank2025 annual accounts filed 75 days after the deadline. Filed on 14 October 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00560207.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 14-10-2026 | 2026-00560207 | |
| 31-12-2024 | full format | 29-08-2025 | 2025-00429770 | |
| 31-12-2023 | full format | 21-08-2024 | 2024-00354734 | |
| 31-12-2022 | full format | 10-08-2023 | 2023-00322796 | |
| 31-12-2021 | full format | 30-08-2022 | 2022-20378971 | |
| 31-12-2020 | full format | 30-08-2021 | 2021-62100503 | |
| 31-12-2019 | full format | 16-09-2020 | 2020-53500592 | |
| 31-12-2018 | full format | 26-08-2019 | 2019-51300429 | |
| 31-12-2017 | full format | 28-08-2018 | 2018-52600256 | |
| 31-12-2016 | full format | 22-06-2017 | 2017-20300309 | |
| 31-12-2015 | full format | 12-09-2016 | 2016-59600166 | |
| 31-12-2014 | full format | 31-08-2015 | 2015-53800127 | |
| 31-12-2013 | full format | 10-09-2014 | 2014-58300523 | |
| 31-12-2012 | full format | 22-07-2013 | 2013-33300403 | |
| 31-12-2011 | full format | 27-07-2012 | 2012-35400133 | |
| 31-12-2010 | full format | 28-09-2011 | 2011-55800546 | |
| 31-12-2009 | full format | 30-07-2010 | 2010-37300381 | |
| 31-12-2008 | full format | 18-08-2009 | 2009-58900216 | |
| 31-12-2007 | full format | 11-08-2008 | 2008-55400360 | |
| 31-12-2006 | full format | 13-07-2007 | 2007-40500210 | |
| 31-12-2005 | full format | 17-07-2006 | 2006-47804250 | |
| 31-12-2004 | full format | 11-08-2005 | 2005-64002650 | |
| 31-12-2003 | full format | 13-07-2004 | 2004-44803822 | |
| 31-12-2002 | full format | 07-07-2003 | 2003-40300403 | |
| 31-12-2001 | full format | 30-08-2002 | 2002-51701520 | |
| 31-12-2000 | full format | 28-09-2001 | 2001-59802466 | |
| 31-12-1999 | full format | 09-08-2000 | 2000-50504136 | |
| 31-12-1998 | full format | 23-09-1999 | 1999-48600898 | |
| 31-12-1997 | full format | 12-10-1998 | 1998-52700151 | |
| 31-12-1996 | full format | 27-11-1997 | 1997-54504315 | |
| 31-12-1995 | full format | 09-12-1996 | 1996-52805015 | |
| 31-12-1994 | full format | 25-10-1995 | 1995-55003276 | |
| 31-12-1993 | full format | 21-12-1994 | 1994-50801605 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 3.5m | 2.2m | 1.8m | 65,748 | 256,083 | 507,114 | 532,320 | 180,925 | 545,654 | 1.0m | 510,245 | 618,916 | 363,361 | 1.5m | 2.2m | 2.6m | 1.9m | 1.6m | 1.3m | 1.3m | ||
| 2.6m | 1.5m | 1.3m | 68,323 | 218,959 | 398,671 | 406,327 | 160,167 | 415,151 | 705,053 | 484,676 | 567,144 | 823,907 | 1.2m | 1.8m | 2.1m | 1.5m | 1.2m | 1.1m | 1.0m | ||
| 337,453 | 391,459 | 111,360 | 27,280 | 67,453 | 76,641 | 54,181 | 68,224 | 44,360 | 111,573 | 84,689 | 123,974 | 1.0m | 85,568 | 161,089 | 1.1m | 803,443 | 433,557 | 422,884 | 84,071 | ||
| 614,923 | -465,922 | -504,058 | -4.3m | 4.2m | -2.9m | -140,118 | 65,637 | 1.3m | 3.1m | -1.9m | 1.7m | -1.4m | -525,869 | 1.6m | 439,537 | -1.9m | 1.5m | 82,692 | - | ||
| 3.1m | 983,063 | 214,105 | 849,808 | 5.3m | 5.2m | 4.9m | 5.0m | 4.9m | 4.6m | 6.7m | 6.4m | 6.0m | 5.9m | 5.3m | 4.3m | 3.0m | 1.4m | 700,218 | 171,138 | ||
| 30.4% | 22.0% | 26.9% | -1.5% | 1.4% | 29.5% | 11.4% | 1.9% | 3.6% | 15.4% | 4.2% | 3.5% | 1.0% | 16.4% | 24.2% | 21.0% | 20.3% | 6.0% | - | - | ||
| 25.3% | 9.9% | 5.0% | 43.0% | 75.6% | 49.8% | 90.2% | 75.0% | 67.1% | 43.6% | 75.5% | 81.4% | 86.5% | 76.8% | 71.9% | 58.7% | 40.7% | 29.4% | 25.6% | 15.2% | ||
| 1.35 | 1.15 | 1.02 | 1.51 | 3.95 | 1.90 | 10.53 | 5.22 | 3.53 | 1.80 | 4.86 | 7.39 | 14.60 | 5.15 | 4.98 | 3.58 | 1.92 | 1.32 | 1.21 | 1.05 | ||
| 0.34 | 0.51 | 0.53 | 0.93 | 3.28 | 0.82 | 10.36 | 5.16 | 3.53 | 1.77 | 2.27 | 7.05 | 10.14 | 5.15 | 4.88 | 2.50 | 1.60 | 1.27 | 1.20 | 1.03 | ||
| 2.73 | 8.05 | 18.70 | 1.29 | 0.31 | 1.00 | 0.09 | 0.23 | 0.38 | 1.18 | 0.25 | 0.14 | 0.07 | 0.23 | 0.26 | 0.47 | 1.11 | 2.40 | 2.90 | 5.59 | ||
| 74.1% | 162.2% | 244.9% | -3.0% | 1.7% | 5.1% | 5.3% | 0.7% | 5.1% | 11.1% | 2.8% | 2.9% | 7.0% | 11.9% | 20.7% | 29.6% | 38.4% | 32.1% | 39.8% | 39.4% | ||
| 18.8% | 16.1% | 12.1% | -1.3% | 1.3% | 2.5% | 4.8% | 0.5% | 3.4% | 4.8% | 2.1% | 2.4% | 6.1% | 9.1% | 14.9% | 17.3% | 15.7% | 9.4% | 10.2% | 6.0% | ||
| over 100 | over 100 | over 100 | 79.60 | 58.65 | over 100 | over 100 | over 100 | - | - | - | - | over 100 | over 100 | over 100 | over 100 | over 100 | 46.55 | - | - | ||
| 62 days | 115 days | 225 days | 11 days | 8 days | 827 days | 85 days | 194 days | 78 days | 465 days | 250 days | 169 days | 391 days | 209 days | 206 days | 78 days | 170 days | 67 days | - | - | ||
| 33 days | 52 days | 25 days | 40 days | 12 days | 84 days | 36 days | 143 days | 63 days | 124 days | 19 days | 75 days | 56 days | 88 days | 70 days | 22 days | 150 days | 74 days | - | - |
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.
Social balance sheet
| Item | 31-12-2025 | 31-12-2024 | 31-12-2023 | 31-12-2022 | 31-12-2021 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 10 | 10 | 9 | 10 | 10 |
| full-time | 8 | 6 | 5 | 6 | 7 |
| part-time | 2 | 4 | 4 | 4 | 3 |
| in full-time equivalents | 8.7 | 7.7 | 7 | 7.9 | 8.6 |
| 8.8 | 7.4 | 8.1 | 7.9 | 8 | |
| On a permanent contract | 10 | 10 | 9 | 9 | 10 |
| Joined | 5 | 4 | 5 | 2 | 4 |
| Left | 5 | 3 | 6 | 2 | 3 |
| Agency workers, average number | 0.5 | - | - | - | - |
| Training hours | 477 | 184 | 94 | 182 | - |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €337,453 | €391,459 | €97,360 | €27,280 | €67,453 |
| Intangible fixed assets | - | - | €14,000 | - | - |
| €233,368 | €165,241 | €123,033 | €107,555 | €117,132 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Auditor
fees| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Fee for the audit | €7,440 | - | - | - | €6,200 |
Source: notes to the 2021 to 2025 annual accounts (relations with the auditor)
Insights on PIPE CONSTRUCT
The operating result for 2025 is 60% higher than in 2024 and the highest since 2006. It is the third rise in a row, after the fall in 2022.
Debt's share of the balance-sheet total falls from 79.9% to 69.2%. Equity and debt are higher.