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PIPE CONSTRUCT

Active Public limited companyfounded 1993active for 33 yearsRue de l'Europe 17, 7080 FrameriesKBO/BCE: BE 0449.888.869 subsidiary of SCT STEEL CONSTRUCTION TECHNOLOGY AG#3 company by equity in Frameries, Manufacturing sector
PIPE CONSTRUCT
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Overview

Lifetime

20 annual accounts with figures on one time axis, 33 filings since 1993
peak €16.5m (2008)
€10.6m▲ 15.3%
lowest -€39,232 (2022)
€2.4m▲ 75.5%
peak €7.1m (2015)
€3.2m▲ 284%
€8.8m▲ 30.5%
peak 17 FTE (2006)
8.8 FTE▲ 18.9%
Board7 names since 2018
2 directorsPIRSON Claude Maximilien and 1 other
Owners
100%SCT STEEL CONSTRUCTION TECHNOLOGY AG
Documentsfilings and deeds
14-10-202675 days late
2025financial year
Turnover from €9.2m to €10.6mResult from €1.4m to €2.4mStaff from 7.4 FTE to 8.8 FTEEquity from €840,149 to €3.2mDebts from €6.8m to €8.8mCash from €373,447 to €988,370

Key points

from the 2025 annual accounts

Equity

€3.2m ▲ 284%
€840,0002024€3.2m2025

Equity rose in 2025 from €840,149 to €3.2m.

Debts

€8.8m ▲ 30.5%
Advances received
+2.6
Suppliers
+0.2
Taxes and wages
+0.2
The rest
-1.0

Debts rose by €2.1m in 2025.

Staff

8.8 FTE from 17 in 2006

Between 2006 and 2025, 48% of the full-time equivalents disappeared.

Payment terms

33 days to suppliers
Suppliers
52 to 33
Customers
115 to 62

PIPE CONSTRUCT pays its suppliers 19 days earlier than in 2024. Customers pay 53 days earlier.

Filings

33 annual accounts 75 days
AprilJune31 JulyOctober200020102020

Latest accounts filed late: after the legal deadline.

Position in the sector

€2.4m

Higher net result than 92% of companies in fabricated metal products. Sector median €79,515 · 834 companies.

Checked score

84
Excellent
Financially stronger than 53% of micro companies in fabricated metal products (NACE 25)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.4% Very low
0%0.5%1.5%4%10%≥ 25%

The dashed line is the sector median: 0.5% across 3,710 companies (NACE 25, micro).

About 4 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Last 24 months 12-2024: 0.4% 01-2025: 0.4%● unchanged vs 12-2024 02-2025: 0.4%● unchanged vs 01-2025lowest value 03-2025: 0.4%● unchanged vs 02-2025lowest value 04-2025: 0.4%● unchanged vs 03-2025 05-2025: 0.4%● unchanged vs 04-2025 06-2025: 0.4%● unchanged vs 05-2025 07-2025: 0.5%▲ +0.1 percentage points vs 06-2025 08-2025: 0.9%▲ +0.4 percentage points vs 07-2025 09-2025: 0.7%▼ -0.2 percentage points vs 08-2025 10-2025: 0.7%● unchanged vs 09-2025 11-2025: 0.7%● unchanged vs 10-2025 12-2025: 0.7%● unchanged vs 11-2025 01-2026: 0.7%● unchanged vs 12-2025 02-2026: 0.7%● unchanged vs 01-2026 03-2026: 0.7%● unchanged vs 02-2026 04-2026: 0.8%▲ +0.1 percentage points vs 03-2026 05-2026: 0.8%● unchanged vs 04-2026 06-2026: 0.8%● unchanged vs 05-2026 07-2026: 0.9%▲ +0.1 percentage points vs 06-2026 08-2026: 1.5%▲ +0.6 percentage points vs 07-2026 09-2026: 1.9%▲ +0.4 percentage points vs 08-2026highest value 10-2026: 0.4%▼ -1.5 percentage points vs 09-2026 11-2026: 0.4%● unchanged vs 10-2026

Financial strength
Average

50+15equity 25.3% of total assets
23+11short-term debt 69.1% · cash 7.8%
95+2return on assets 18.8%

Score breakdown

raises risk
Sector: Manufacture of fabricated metal products, except machinery and equipment (NACE 25)
Last filed accounts filed 75 days late; 1 of the last 3 accounts late
lowers risk
Founded in 1993
Size: turnover €10.6m, 8.8 FTE, total assets €12.8m
Calculation

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 25, micro). It does better than 28% of them on solvency, 12% on liquidity, 85% on profitability and 85% 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).

Comparable companies, two years later

In July 2024, 3,818 companies had the same profile as PIPE CONSTRUCT has now. Each dot stands for 10 companies, two years later.

95.0%
were still trading
3.7%
stopped another way
1.0%
went bankrupt
  • Micro
  • 20 years or older
  • solvency 10 to 30%
  • a profit of 5% of the balance sheet or more

Another 0.2% stopped without a precise date, possibly only after those two years.

That fits the bankruptcy probability of PIPE CONSTRUCT itself: 0.4% within 12 months.

Test of the method

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.

The companies in ten equal groups, from the lowest to the highest expected share
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 3,818 companies, not a prediction for PIPE CONSTRUCT. 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.

Credit verdict

Credit of up to €270,000 on 30-day terms is acceptable

Liquidity is tight, with a current ratio of 1.35 (1.15 in 2024), below the usual 1.5. Short-term debt is 69.1% and cash 7.8% of total assets. 74.7% of the assets are financed with debt and provisions.

Credit check for an amount and term of your choice

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.

Signals

Seven signals.
lowers riskraises risk
lowers risk · Founded in 1993
Companies that have existed this long fail less often. How much that weighs depends on the rest of the company's profile.
KBO
raises risk · Sector: Manufacture of fabricated metal products, except machinery and equipment (NACE 25)
KBO
raises risk · Last filed accounts filed 75 days late; 1 of the last 3 accounts late
NBB · filings
lowers risk · Size: turnover €10.6m, 8.8 FTE, total assets €12.8m
Companies of this size fail less often. How much that weighs depends on the rest of the company's profile.
NBB · annual accounts
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 24% of 834 sector peers (2025).
NBB · sector comparison
Position among 834 sector peers
Solvency
better than 24%
← weakest strongest →
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025
Equity per financial year
1819202122232425
2018 to 2025 · latest year €3.2m
raises risk · 2025 accounts filed 75 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 14-10-2026, 75 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filings
Deviation from the deadline
2025
75 days late
2024
29 days late
2023
21 days late
2022
10 days late
2021
30 days late
2020
30 days late
2019
47 days late
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

The company filed its last 7 accounts on average 35 days after the deadline. In the sector (NACE 25), the median for financial year 2024 was 7 days before the deadline, and 35% of those companies filed late.

Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 29 August (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven months
Where today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
That holds for every publication since 2021.
KBO publications

Board and ownership

BN
BENABDERRAHMANE Nordine
Director
PC
PIRSON Claude Maximilien
Director
PA
PRAMAT AUDIT SRL
Auditor

Shares in 1 company, PC ROHRLEITUNGSBAU GMBH, en liquidation

Board & ownership

Recent changes

3 directors reappointed, 1 statutory auditor reappointed PIRSON Claude Maximilien, HANON Gaël, BENABDERRAHMANE Nordine and Pragma Audit (statutory auditor) · General meeting of 26-07-2024 · Gazette deed
3 directors reappointed PIRSON Claude Maximilien, HANON Gaël and BENABDERRAHMANE Nordine · General meeting of 31-07-2023 · Gazette deed
Capital increase of BEF 4,050,985 “Les services administratifs de bureau ainsi que d’autres activités de soutien aux entreprises de manière…” (deed in French) · Founding capital of BEF 2.000.000, 200 shares · General meeting of 28-06-2023 · Gazette deed
3 directors reappointed PIRSON Claude Maximilien, HANON Gaël and BENABDERRAHMANE Nordine · General meeting of 11-07-2022 · Gazette deed
All 55 events

Comparable companies

same main activity, similar in size and age
Company
PIPE CONSTRUCT Frameries €10.6m 30.4% 25.3% 8.8
SILBLOXX Lichtervelde €13.8m 1.1% 18.0% 13.3
Staal Straal Weelde Ravels €8.0m 7.2% 14.3% 16.1
MATTHYS Lo-Reninge €14.4m 2.8% 37.6% 17.4
COMINES STEEL Comines-Warneton €18.3m 3.3% 46.5% 16.5
DEBA Deinze €5.3m 12.2% 63.3% 10.5
Nedcon Grobbendonk €5.2m 9.3% 82.9% 6.2
-10%0%10%20%€5m€50m€500mPIPE CONSTRUCTEBIT margin

Grey: the largest companies of the sector (fabricated metal products (NACE 25)), without their names. Blue: the sector peers from the table.

These companies have the same main activity as PIPE CONSTRUCT: manufacture of metal structures and parts of structures (NACE 25110). They are comparable in size and age: total assets between €5.6m and €11m, founded between 1978 and 2008.

Official details

Source: KBO
Status
Active since 15-04-1993Normal situation
Activity
Manufacture of metal structures and parts of structuresNACE 25110and 1 other
Joint committees
111Metal, mechanical and electrical engineering
209White-collar workers in metal manufacturing · annual accounts 2025
Establishment unit
2.061.981.8547080 Frameries, since 05-05-1993
Financial year end
31 December
Peppol
Reachable since 20-11-2020
Company details

Annual accounts 2025

€10.6m▲ 15.3%
€2.4m▲ 75.5%
€3.2m▲ 284%
€12.8m▲ 50.7%
Employeeson 31-12-2025
10=
Filing
Filed on 14-10-2026
Financials

Insights on PIPE CONSTRUCT

PIPE CONSTRUCT has existed since 1993. In 2021 turnover rose from €1.4m to €10.2m.

Turnover has grown every year since 2022. Solvency rose in 2025 from 9.9% to 25.3% because of the retained profit.

SCT STEEL CONSTRUCTION TECHNOLOGY AG holds all the shares.

Sources: KBO register, filings at the National Bank, Belgian Official Gazette.

Financials

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
In the rankings #3 company by equity in Frameries, Manufacturing sector#4 company by total assets in Frameries, Manufacturing sector#9 oldest company in Frameries, Manufacturing sector

Money flows

of every €100 of turnover, €22.60 remains as profit in 2025

Balance sheet

balance sheet total €12.8m on 31-12-2025
What the company ownsHow it is paid for

in €m

in €m

Position in the sector

Compare with 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 Trend20252024202320222021202020192018201720162015201420132012201120102009200820072006
Balance sheet: assets
20/58 12.8m8.5m9.7m3.0m7.7m11.5m6.0m6.9m7.6m11.2m9.4m8.5m7.8m8.1m7.7m7.5m7.4m6.3m4.9m5.0m
21/28 826,830720,746499,356511,029591,595641,274671,951735,371793,257904,624974,7371.2m1.4m751,5601.1m1.6m1.2m733,416931,7481.1m
21 1,2085,87410,541----1,0412,4283,815---3,22114,38225,93614,6822,5275,5902,935
22/27 798,622689,871463,816486,029566,304615,983646,660709,039764,456871,036940,0251.2m1.4m742,7971.1m1.5m1.2m730,398925,8671.1m
22 288,107334,450351,164397,086443,009485,821533,903587,242646,430712,145786,498875,346969,519101,547118,65372,61389,102105,952123,367143,406
23 33,336109,33247,60135,64332,51452,64827,40134,00138,02275,84982,361167,082305,598542,397855,5571.4m973,103482,901754,686825,970
24 477,180243,01360,23250,81386,82472,08779,95587,79580,00383,04171,167122,547131,16479,272106,82490,854125,448130,21647,81488,288
26 -3,0764,8192,4873,9575,4275,400------2313,0065,7808,55411,329--
27 -------------19,350------
28 27,00025,00025,00025,00025,29125,29125,29125,29126,37329,77334,7118,5612915,5413,72199199149129110,619
280/1 25,00025,00025,00025,00025,00025,00025,00025,000--25,000---------
280 25,00025,00025,00025,00025,00025,00025,00025,000--25,000---------
284/8 2,000---291291291291--9,7118,5612915,5413,721991991491--
285/8 2,000---291291291291--9,7118,5612915,5413,721991991491--
29/58 11.9m7.7m9.2m2.5m7.1m10.9m5.4m6.1m6.8m10.2m8.5m7.3m6.4m7.4m6.6m5.9m6.2m5.6m4.0m3.9m
3 9.0m4.3m4.5m966,4571.2m6.2m86,73166,707-155,7854.5m340,5182.0m-133,0571.8m1.0m241,46928,15050,525
37 9.0m4.3m4.5m966,4571.2m6.2m86,73166,707-155,7854.5m340,5182.0m-133,0571.8m1.0m241,46928,15050,525
40/41 2.0m3.0m3.9m203,732264,2703.2m958,4541.6m2.4m7.0m3.9m3.5m1.8m3.7m4.0m2.3m4.1m3.3m3.4m3.5m
40 1.8m2.9m3.8m85,007218,6903.1m845,6741.5m2.3m7.0m3.6m3.3m1.5m3.6m3.8m1.9m3.5m3.0m3.3m3.4m
41 145,933127,39965,510118,72445,581160,221112,78075,595106,10725,078294,415194,637309,047195,960245,246399,144510,689293,949186,08883,989
50/53 -----------1.6m2.4m2.0m200,0001.3m1.0m---
51/53 -----------1.6m2.4m2.0m200,0001.3m1.0m---
54/58 988,370373,447839,3691.3m5.7m1.4m4.3m4.5m4.4m3.1m21,4431.9m266,6391.7m2.2m557,671118,1342.0m508,600425,908
490/1 30,79262,72925,61216,26015,03015,1019,8295,7071,920-2,79220,25611,27127,06013,3915,1795,77919815,207-
Balance sheet: equity and liabilities
10/49 12.8m8.5m9.7m3.0m7.7m11.5m6.0m6.9m7.6m11.2m9.4m8.5m7.8m8.1m7.7m7.5m7.4m6.3m4.9m5.0m
10/15 3.2m840,149480,1041.3m5.8m5.7m5.4m5.1m5.1m4.9m7.1m6.9m6.8m6.2m5.5m4.4m3.0m1.9m1.3m760,234
10/11 150,000150,000150,000150,000150,000150,000150,000150,000150,000150,000150,000150,000150,000150,000150,000150,000150,000150,000150,000150,000
10 150,000150,000150,000150,000150,000---------------
100 150,000150,000150,000150,000150,000150,000150,000150,000150,000150,000150,000150,000150,000150,000150,000150,000150,000150,000150,000150,000
13 3.1m669,924239,0491.1m5.6m4.8m4.9m4.9m4.9m2.3m2.3m2.3m2.4m2.1m2.1m2.1m1.2m33,75033,75033,750
130/1 15,00015,00015,00015,00015,00015,000--------------
130 15,00015,00015,00015,00015,00015,00015,00015,00015,00015,00015,00015,00015,00015,00015,00015,00015,00015,00015,00015,000
132 85,799104,924124,049143,174162,299181,424208,022214,428237,795262,128289,170331,332383,76068,96389,048117,168152,09018,75018,75018,750
133 3.0m550,000100,000900,0005.4m4.6m4.6m4.6m4.6m2.0m2.0m2.0m2.0m2.0m2.0m2.0m1.0m---
14 16,7975,84374,04579,29199,398748,523418,262108,50650,0002.4m4.6m4.4m4.1m4.0m3.2m2.0m1.7m1.7m1.1m576,484
15 11,75414,38217,01119,63922,26824,89627,66630,74134,15638,01942,26252,782102,87040,17254,08574,934----
16 701,335861,279226,81647,72554,10060,47579,504532,962542,778555,313569,237590,948617,952455,856750,7981.0m1.0m---
160/5 672,736826,305185,467----430,000430,000430,000430,000430,000430,000430,000714,600967,000967,000---
162 --------------284,600537,000537,000---
164/5 672,736826,305185,467----430,000430,000430,000430,000430,000430,000430,000430,000430,000430,000---
168 28,60034,97541,35047,72554,10060,47579,504102,962112,778125,313139,237160,948187,95225,85636,19850,67768,660---
17/49 8.8m6.8m9.0m1.7m1.8m5.7m510,0081.2m2.0m5.7m1.7m995,859443,3061.4m1.4m2.1m3.4m4.5m3.7m4.3m
17 ---5,88123,381--6,97923,72940,479----82,600416,200120,000240,000360,000480,000
170/4 ---5,88123,381--6,97923,72940,479----82,600416,200120,000240,000360,000480,000
172 -------6,979------------
173 ---5,88123,381---------82,600416,200120,000240,000--
42/48 8.8m6.8m9.0m1.7m1.8m5.7m509,8341.2m1.9m5.7m1.7m993,607440,8781.4m1.3m1.7m3.2m4.2m3.3m3.8m
42 --5,88117,50117,291-6,97916,75016,75016,750---82,600333,600453,600120,000120,000135,000195,000
43 1,972---------1.2m------28,887144,443259,999
430/8 1,972---------1.2m------28,887144,443259,999
44 1.0m804,458499,178231,775144,3211.5m308,992925,0351.7m1.3m443,965886,166398,7811.2m482,865378,2781.9m2.7m1.4m2.6m
440/4 1.0m804,458499,178231,775144,3211.5m308,992925,0351.7m1.3m443,965886,166398,7811.2m482,865378,2781.9m2.7m1.4m2.6m
46 7.0m4.4m5.7m916,1951.1m4.2m97,07919,41234,512--10,893-83,940-178,404774,0001.2m1.3m-
45 285,127104,887263,93460,17957,34358,04196,784213,995193,1671.6m100,77996,54842,09858,042501,902645,056408,042142,791304,337678,108
450/3 227,09244,741203,12910,81821,50616,57761,007180,578159,8501.6m55,87049,8192,30414,421461,236600,216359,07980,256254,352619,603
454/9 58,03460,14660,80649,36135,83741,46435,77733,41633,31735,77744,90946,72939,79443,62240,66644,84048,96362,53549,98558,505
47/48 454,4171.5m2.5m454,417453,987----2.8m-----355711,7281,7281,728
492/3 4,8872,3806,5411281102851753,6994,3446,5993,3142,2522,4288526,8543,9202,7212,6359,1662,122
Income statement
70/76A 15.3m9.0m9.8m2.6m5.2m7.5m4.1m3.0m--9.5m5.6m3.4m6.1m5.1m9.6m8.4m16.7m--
70 10.6m9.2m6.2m2.8m10.2m1.4m3.6m2.9m10.9m5.5m5.3m7.2m1.4m6.2m6.7m8.8m7.6m16.5m--
71 4.7m-184,4873.5m-236,311-5.0m6.1m20,02366,707--4.2m-1.6m2.0m-133,057-1.7m765,638786,168213,319--
72 ------------48,764-------
74 23,32221,68012,02116,6783,706---------------
76A 47,92410,971115,0003,00018,855-444,23916,8656,39314,092766-612,23116,41324,95116,222243,1183,73749,39312,944
9900 --------972,9781.8m--------2.2m2.3m
60/66A 12.1m7.0m8.1m2.6m5.0m7.1m3.7m2.9m--9.3m5.3m3.4m5.1m3.4m7.8m6.9m15.7m--
60/61 --------9.8m3.7m----------
60 9.7m4.6m6.2m1.5m3.9m5.9m2.6m1.9m--7.4m3.8m2.1m4.2m2.0m5.2m3.6m11.0m--
600/8 9.7m4.6m6.2m1.5m3.9m5.9m2.6m1.9m--7.4m3.8m2.1m4.2m2.0m5.2m3.6m11.0m--
61 1.6m1.1m1.0m593,849657,733633,171535,494470,908--894,149568,525475,566820,869568,4031.1m1.1m2.4m--
62 643,161480,260557,835389,377358,443430,404411,121417,136404,638538,471638,786619,574489,865571,077537,386670,586836,598958,498881,6911.0m
630 233,368165,241123,033107,555117,132107,318117,601125,028152,328166,485284,638365,279348,672433,298616,713785,503325,478632,089552,025746,154
631/4 --------------688,531---688,531--
635/8 -153,569640,838185,467-----------284,600-252,400-967,000---
640/8 48,54820,70722,71213,39815,11115,57316,43416,42619,725209,71619,8329,60211,45010,17716,9299,61410,83640,2535,9608,773
66A 0-------2,96045--1,7162,846-9,116-5,588-383
9901 3.2m2.0m1.7m-41,807138,951399,797414,72055,897393,326846,282225,607253,63714,6901.0m1.6m1.9m1.5m987,132717,966511,162
75/76B 3,35738,6302,6282,62916,3662,9073,0794,1163,9144,42315,3468,76119,59121,77435,32071,1909,36124,37611,56016,893
75 3,35738,6302,6282,62916,3662,9073,0794,1163,9144,42315,3468,76119,59121,77435,32071,1909,36124,37611,56016,893
750 ----------266---------
751 -36,002---------3,4974,5812,8967,7837,5346,78023,234--
752/9 3,3572,6282,6282,62916,3662,9073,0794,116--15,0815,26415,00918,87727,53763,6562,5811,142--
65/66B 3,9192,5044,8915,77612,5033,8203,8238,03321,94483,94310,88136,8448,78815,95923,07834,17632,90049,28754,22466,808
65 3,9192,5044,8915,77612,5033,8203,8238,03321,94483,94310,88136,8448,78815,95923,07834,17632,90049,28754,22466,808
650 1,197151868264,36622200418----6435,28916,51020,60217,84634,786--
652/9 2,7222,4894,7054,9508,1373,7983,6237,616--10,88136,8448,14410,6706,56813,57415,05414,501--
9903 3.2m2.1m1.7m-44,954142,814398,884413,97551,980375,296766,762230,838225,554636,0081.0m1.7m1.9m1.8m960,369724,695473,808
780 6,3756,3756,3756,3756,375---------------
67/77 832,454694,482488,08265347,363114,250134,08426,656125,009242,11852,51050,693-1,324304,524538,228620,733531,579363,741222,129174,415
670/3 832,454694,482488,08265347,363115,051134,08426,656--52,51050,693738313,124538,228620,733531,579363,741--
77 -----801------2,0628,600------
9904 2.4m1.4m1.2m-39,232101,826291,353288,72635,139262,823538,568200,038201,865475,235742,7991.1m1.3m1.2m596,629502,566299,393
789 19,12519,12519,12519,12519,12538,90821,03023,36724,33427,04142,16252,42821,85420,08528,11934,922----
689 ------------336,651---133,340---
9905 2.4m1.4m1.2m-20,107120,951330,262309,75658,506287,157565,610242,200254,293160,438762,8841.2m1.3m1.0m596,629502,566299,393
Appropriation of the result
9906 2.4m1.5m1.3m79,291869,475748,523418,262108,5062.7m5.2m4.6m4.4m4.1m4.0m3.2m3.0m2.7m1.7m1.1m576,484
14P 5,84374,04579,29199,398748,523---------------
791/2 --800,0004.5m----------------
792 --800,0004.5m----------------
691/2 2.4m450,000--770,077---2.6m------1.0m1.0m---
6921 2.4m450,000--770,077---2.6m------1.0m1.0m---
694/7 -1.0m2.0m4.5m-----2.8m----------
694 -1.0m2.0m4.5m-----2.8m----------
Social balance sheet
9087 8.87.48.1887.57.58.17.98.810.710.79.511.511.812.614.115.314.917
Men (FTE)1003 86.67.26.87.16.56.77.3--9.99.98.710.7------
Women (FTE)1003 0.80.80.91.10.910.80.8--0.80.80.80.8------
Agency workers1501 0.5-------------------
Hours worked1013 15,21611,36011,83210,62410,6999,42410,92011,63711,84313,64517,37916,89613,31215,82715,53219,50423,25227,15724,57829,115
Document PDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDF

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.

Download as CSV

Filings

each dot is a set of accounts, on the day it reached the National Bank

2025 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 PDF
31-12-2024 full format 29-08-2025 2025-00429770 PDF
31-12-2023 full format 21-08-2024 2024-00354734 PDF
31-12-2022 full format 10-08-2023 2023-00322796 PDF
31-12-2021 full format 30-08-2022 2022-20378971 PDF
31-12-2020 full format 30-08-2021 2021-62100503 PDF
31-12-2019 full format 16-09-2020 2020-53500592 PDF
31-12-2018 full format 26-08-2019 2019-51300429 PDF
31-12-2017 full format 28-08-2018 2018-52600256 PDF
31-12-2016 full format 22-06-2017 2017-20300309 PDF
31-12-2015 full format 12-09-2016 2016-59600166 PDF
31-12-2014 full format 31-08-2015 2015-53800127 PDF
31-12-2013 full format 10-09-2014 2014-58300523 PDF
31-12-2012 full format 22-07-2013 2013-33300403 PDF
31-12-2011 full format 27-07-2012 2012-35400133 PDF
31-12-2010 full format 28-09-2011 2011-55800546 PDF
31-12-2009 full format 30-07-2010 2010-37300381 PDF
31-12-2008 full format 18-08-2009 2009-58900216 PDF
31-12-2007 full format 11-08-2008 2008-55400360 PDF
31-12-2006 full format 13-07-2007 2007-40500210 PDF
31-12-2005 full format 17-07-2006 2006-47804250 PDF
31-12-2004 full format 11-08-2005 2005-64002650 PDF
31-12-2003 full format 13-07-2004 2004-44803822 PDF
31-12-2002 full format 07-07-2003 2003-40300403 PDF
31-12-2001 full format 30-08-2002 2002-51701520 PDF
31-12-2000 full format 28-09-2001 2001-59802466 PDF
31-12-1999 full format 09-08-2000 2000-50504136 PDF
31-12-1998 full format 23-09-1999 1999-48600898 PDF
31-12-1997 full format 12-10-1998 1998-52700151 PDF
31-12-1996 full format 27-11-1997 1997-54504315 PDF
31-12-1995 full format 09-12-1996 1996-52805015 PDF
31-12-1994 full format 25-10-1995 1995-55003276 PDF
31-12-1993 full format 21-12-1994 1994-50801605 PDF

Key figures and ratios

per financial year, computed from the annual accounts
Line Trend20252024202320222021202020192018201720162015201420132012201120102009200820072006
3.5m2.2m1.8m65,748256,083507,114532,320180,925545,6541.0m510,245618,916363,3611.5m2.2m2.6m1.9m1.6m1.3m1.3m
2.6m1.5m1.3m68,323218,959398,671406,327160,167415,151705,053484,676567,144823,9071.2m1.8m2.1m1.5m1.2m1.1m1.0m
337,453391,459111,36027,28067,45376,64154,18168,22444,360111,57384,689123,9741.0m85,568161,0891.1m803,443433,557422,88484,071
614,923-465,922-504,058-4.3m4.2m-2.9m-140,11865,6371.3m3.1m-1.9m1.7m-1.4m-525,8691.6m439,537-1.9m1.5m82,692-
3.1m983,063214,105849,8085.3m5.2m4.9m5.0m4.9m4.6m6.7m6.4m6.0m5.9m5.3m4.3m3.0m1.4m700,218171,138
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%
1.351.151.021.513.951.9010.535.223.531.804.867.3914.605.154.983.581.921.321.211.05
0.340.510.530.933.280.8210.365.163.531.772.277.0510.145.154.882.501.601.271.201.03
2.738.0518.701.290.311.000.090.230.381.180.250.140.070.230.260.471.112.402.905.59
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 100over 100over 10079.6058.65over 100over 100over 100----over 100over 100over 100over 100over 10046.55--
62 days115 days225 days11 days8 days827 days85 days194 days78 days465 days250 days169 days391 days209 days206 days78 days170 days67 days--
33 days52 days25 days40 days12 days84 days36 days143 days63 days124 days19 days75 days56 days88 days70 days22 days150 days74 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

Item31-12-202531-12-202431-12-202331-12-202231-12-2021
Employees at the balance-sheet date101091010
full-time86567
part-time24443
in full-time equivalents8.77.777.98.6
8.87.48.17.98
On a permanent contract10109910
Joined54524
Left53623
Agency workers, average number0.5----
Training hours47718494182-

Source: social balance sheet in the 2021 to 2025 annual accounts

Investments

fixed assets acquired
Item20252024202320222021
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
Item20252024202320222021
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.

Board & ownership

Board

2 directors, 1 auditor, last change in 2021
BENABDERRAHMANE Nordine
Director
appointed by deed of 03-02-2021
PIRSON Claude Maximilien
Director
in office according to the deed of 08-10-2021
PRAMAT AUDIT SRL
Statutory auditor
since 26-07-2024 term until 21-06-2027
listed in the 2025 annual accounts, filed on 14-10-2026
Signing authorityThe articles say who may bind the company, for example by signing a contract.
“Article 21. Représentation de la société La représentation de la société dans les actes, autres que ceux de gestion journalière, et en…”
deed of 04-09-2023

Office holders in the KBO →

Mandates through the years

7 names, the dashed line is today
PIRSON Claude Maximilien
Director
BENABDERRAHMANE Nordine
Director
PRAMAT AUDIT SRL
Statutory auditor
HANON Gaël
Director
Claude Maximillien PIRSON
Managing director
Claude PIRSON
Director
Pragma Audit
Statutory auditor
BoardEarliermandate already running before its first mentionend not dated
Mandates as a list
  • PIRSON Claude Maximilien
    • Managing director, appointed by deed of 04-02-2020, last mentioned in 2020
    • Director, from 27-08-2021 to date
  • BENABDERRAHMANE Nordine
    • Director, appointed by deed of 03-02-2021, still in office
  • PRAMAT AUDIT SRL
    • Statutory auditor, from 26-07-2024 to date
  • HANON Gaël
    • Director, appointed by deed of 04-02-2020, no longer listed in the 2025 annual accounts
  • Claude Maximillien PIRSON
    • Managing director, from before 06-10-2020, last mentioned in 2020
  • Claude PIRSON
    • Director, appointed by deed of 04-02-2020, last mentioned in 2020
  • Pragma Audit
    • Statutory auditor, appointed by deed of 19-09-2018, no longer listed in the 2025 annual accounts

See the board, name and registered office on a given date →

Control

Parent
SCT STEEL CONSTRUCTION TECHNOLOGY AG CH
Source: own accounts 2025
100%
This company
PIPE CONSTRUCT
Equity €3.2m
Profit €2.4m in 2025

Capital

Capital
€150,000
Shares
200
Contribution per share
€750
Equity per share
€16,147 in 2025
Source
2025 annual accounts

Owners through the years

as the annual accounts name them
SCT STEEL CONSTRUCTION TECHNOLOGY AG CH
95%100%
100%
Owners as a list

Older annual accounts also name 1 natural person.

Source: shareholder structure in its own accounts

Articles of association

deed of 04-09-2023 (in French)
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
Board ruleThese rules set how the board is made up, meets and takes decisions.
At least 3 directors
“Composition du conseil d'administration, 6 ans”
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Third Monday of June at 19:00

Capital transactions

Capital over time
  1. 04-09-2023 Incorporation · BEF 2,000,000 · 200 shares
  2. 04-09-2023 Capital increase of BEF 4,050,985 · from reserves
  3. 04-09-2023 Capital conversion · €150,000

Network & group

Holdings

own 2025 accounts, the bar shows equity in euros
This companyPIPE CONSTRUCT1 holding, 1 country 2025 accounts

Europe 1 Equity Result

  • DE PC ROHRLEITUNGSBAU GMBH, en liquidation €543,114 result -€1,478

Source: list of holdings in its own 2025 accounts. The amounts are in that list and come from the holdings' accounts at 31-12-2022, in their own currency.

Parent

SCT STEEL CONSTRUCTION TECHNOLOGY AG
Switzerland · 100% of the shares

Holdings and subsidiaries

1 holding

Holdings 1

Share, source and own figures per holding (1)
  • PC ROHRLEITUNGSBAU GMBH, en liquidationDEsubsidiary
    Equity €543,114Result -€1,478
    Sourceown accounts 2025
    100%
Holdings through the years 2018 to 2025
Holdings through the years
Name20182019202020212022202320242025
PC ROHRLEITUNGSBAU GMBH, en liquidationDE 100%
PC ROHRLEITUNGSBAU GMBHDE 100%

Source: list of holdings in its own accounts

Connections & network

2 current directors
Depth

The network starts from the directors of PIPE CONSTRUCT. Every other company they run is a node.

This company Company Director Shareholding +N: links not shown yet Click a node to look further, drag to arrange, zoom with the mouse wheel.

Timeline

Timeline

55 events since 1993

Deadline for the 2026 accounts: 31-07-2027

2026
Annual accounts 2025 filed NBBfull format · 75 days late
2025
Highest result from 2006 to 2025 net €2.4m ▲75.5% The operating result of €3.2m and the net result of €2.4m are both a record.
Annual accounts 2024 filed PDFfull format · 29 days late
2024
3 directors reappointed, 1 statutory auditor reappointedPIRSON Claude Maximilien, HANON Gaël, BENABDERRAHMANE Nordine and Pragma Audit (statutory auditor) · General meeting of 26-07-20245 points ▸

Open the deed in the Belgian Official Gazette

Annual accounts 2023 filed PDFfull format · 21 days late
2023
Back to profit net €1.2m The net result is €1.2m, after one loss-making year.
3 directors reappointedPIRSON Claude Maximilien, HANON Gaël and BENABDERRAHMANE Nordine · General meeting of 31-07-20234 points ▸

Open the deed in the Belgian Official Gazette

Capital increase of BEF 4,050,985“Les services administratifs de bureau ainsi que d’autres activités de soutien aux entreprises de manière…” (deed in French) · Founding capital of BEF 2.000.000, 200 shares · General meeting of 28-06-20237 points ▸
  • Registered office clause, rue de l'Europe 17, 7080 Frameries
  • General meeting, 28-06-2023
  • Purpose change, “Les services administratifs de bureau ainsi que d’autres activités de soutien aux entreprises de manière générale” (deed in French)
  • Capital, €150,000, 200 shares
  • Founding capital, BEF 2.000.000, 200 shares
  • General meeting, 06-09-2001
  • Capital increase, BEF 4.050.985
  • The deed holds 3 more points.

Open the deed in the Belgian Official Gazette

Annual accounts 2022 filed PDFfull format · 10 days late
2022
Weakest financial year net -€39,232 The net result drops to -€39,232, the lowest from 2006 to 2025. It recovers the following year.
3 directors reappointedPIRSON Claude Maximilien, HANON Gaël and BENABDERRAHMANE Nordine · General meeting of 11-07-20224 points ▸

Open the deed in the Belgian Official Gazette

Annual accounts 2021 filed PDFfull format · 30 days late
2021
Liquidity more than doubled current ratio 3.95 The current ratio rises from 1.90 to 3.95. Short-term debt falls from €5.7m to €1.8m.
Reappointment: PRAGMA AUDIT (statutory auditor)General meeting of 27-08-20212 points ▸
  • General meeting, 27-08-2021
  • Auditor reappointment, PRAGMA AUDIT

Open the deed in the Belgian Official Gazette

3 directors reappointedPIRSON Claude Maximilien, HANON Gaël and BENABDERRAHMANE Nordine3 points ▸

Open the deed in the Belgian Official Gazette

Annual accounts 2020 filed PDFfull format · 30 days late
Appointment: Nordine BENABDERRAHMANE (director)1 point ▸

Open the deed in the Belgian Official Gazette

2020
Registered in the Peppol Directory Reachable for e-invoices through 0208:0449888869
Reappointments: Claude Maximillien PIRSON (managing director) and Gaël HANON (director)General meeting of 15-06-20203 points ▸

Open the deed in the Belgian Official Gazette

Annual accounts 2019 filed PDFfull format · 47 days late
Appointments: Claude Maximilien PIRSON (managing director) and Gaël HANON (director)Director discharge: Claude Maximilien PIRSON · Director discharge: Gaël HANON · Director discharge: Claude PIRSON6 points ▸

Open the deed in the Belgian Official Gazette

2019
Liquidity doubles current ratio 10.53 The current ratio rises from 5.22 to 10.53. Short-term debt falls from €1.2m to €509,834.
Annual accounts 2018 filed PDFfull format · 26 days late
2018
Appointment: PRAGMA AUDIT (statutory auditor)General meeting of 18-06-20182 points ▸
  • General meeting, 18-06-2018
  • Auditor appointment, PRAGMA AUDIT (statutory auditor)

Open the deed in the Belgian Official Gazette

Annual accounts 2017 filed PDFfull format · 28 days late
2017
Annual accounts 2016 filed PDFfull format · 39 days before the deadline
2016
Annual accounts 2015 filed PDFfull format · 43 days late
2015
Annual accounts 2014 filed PDFfull format · 31 days late
2014
Annual accounts 2013 filed PDFfull format · 41 days late
2013
Liquidity more than doubled current ratio 14.60 The current ratio rises from 5.15 to 14.60. Short-term debt falls from €1.4m to €440,878.
Annual accounts 2012 filed PDFfull format · 9 days before the deadline
2012
Annual accounts 2011 filed PDFfull format · 4 days before the deadline
2011
Equity above €5m equity €5.5m ▲25.5% With a profit in every financial year since 2006, equity grows to €5.5m.
Annual accounts 2010 filed PDFfull format · 59 days late
2010
Annual accounts 2009 filed PDFfull format · 1 day before the deadline
2009
Equity above €2m equity €3.0m ▲62.5% With a profit in every financial year since 2006, equity grows to €3.0m.
Annual accounts 2008 filed PDFfull format · 18 days late
2008
Annual accounts 2007 filed PDFfull format · 11 days late
2007
Equity above €1m equity €1.3m ▲66.1% With a profit in every financial year since 2006, equity grows to €1.3m.
Annual accounts 2006 filed PDFfull format · 18 days before the deadline
2006
Annual accounts 2005 filed PDFfull format
2005
Annual accounts 2004 filed PDFfull format
2004
Annual accounts 2003 filed PDFfull format
2003
Annual accounts 2002 filed PDFfull format
2002
Annual accounts 2001 filed PDFfull format
2001
Annual accounts 2000 filed PDFfull format
2000
Annual accounts 1999 filed PDFfull format
1999
Annual accounts 1998 filed PDFfull format
1998
Annual accounts 1997 filed PDFfull format
1997
Annual accounts 1996 filed PDFfull format
1996
Annual accounts 1995 filed PDFfull format
1995
Annual accounts 1994 filed PDFfull format
1994
Annual accounts 1993 filed PDFfull format
1993
First establishment Rue de l'Europe 17, Frameries
Incorporation published on 06-05-1993

Financial milestones sit on the financial year-end date, not the filing date.

Sources: Publications in the Belgian Official GazetteFilings with the National Bank

History

On 15 April 1993, PIPE CONSTRUCT was incorporated.1 Turnover went from €2.9m in 2018 to €10.6m in 2025 and headcount from 8.1 to 8.8 full-time equivalents.2

  1. 1KBO register
  2. 2National Bank, annual accounts 2018 and 2025

Company details

Identity

Enterprise number
0449.888.869
VAT number
BE 0449.888.869
Peppol ID
0208:0449888869
Legal form
Public limited company
Status
Active, normal situation
Founded
15-04-1993
Financial year
ends on 31 December
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Third Monday of June at 19:00
deed of 04-09-2023 (in French)
Peppol
Reachable since 20-11-2020Follow this company and you will hear the next morning if it leaves the Peppol register.
Name
PIPE CONSTRUCT in French
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 04-09-2023 (in French)

Activities

NACEBEL 2025
VAT activities
25110 Manufacture of metal structures and parts of structures main activity
Social security (RSZ) activities
25210 Manufacture of fabricated metal products, except machinery and equipment main activity
Joint committees annual accounts 2025
JC 111 Metal, mechanical and electrical engineering
JC 209 White-collar workers in metal manufacturing
Codes under NACEBEL 2008
VAT activities
25110 Manufacture of metal structures and parts of structures main activity
Social security (RSZ) activities
25300 Manufacture of fabricated metal products, except machinery and equipment main activity
Codes under NACEBEL 2003
VAT activities
28110 main activity
Social security (RSZ) activities
28300 main activity
PurposeThe purpose describes the activities the company may carry out under its articles.
“La société a pour objet tous travaux de montage, démontage et manutention de toutes espèces d'industries, les constructions métalliques et…”
4 activities
  1. La société a pour objet tous travaux de montage, démontage et manutention de toutes espèces d'industries, les constructions métalliques et les tuyauteries industrielles ainsi que la supervision de travaux de montage.
  2. La société a également pour objet les services administratifs de bureau ainsi que d’autres activités de soutien aux entreprises de manière générale.
  3. Elle peut accomplir toutes opérations commerciales, industrielles, financières, mobilières ou immobilières, se rapportant directement ou indirectement à son objet ou de nature à en faciliter directement, entièrement ou partiellement, la réalisation.
  4. La société peut s'intéresser par toutes voies dans toutes affaires, entreprises ou sociétés ayant un objet identique, analogue, similaire ou connexe, ou qui sont de nature à favoriser, même indirectement, le développement de son entreprise.
deed of 04-09-2023 (in French)

Registered office and establishments

1 establishment
Establishment Since Unit number
Rue de l'Europe 17 registered office 7080 Frameries 25210 Manufacture of fabricated metal products, except machinery and equipment 05-05-1993 2.061.981.854

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