PIPENPOY
ActivePIPENPOY has been active since 2000 and the Belgian State Gazette contains no insolvency or warning signals. The 2026 annual accounts show equity of €158k and a net result of €9k. Equity is shrinking by ~12.7% per year across the filed fiscal years. Its solvency ranks better than 33% of 52 sector peers (fiscal year 2026). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2026
52
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2025
Profitability40▼-7
Solvency42▲+1
Growth58=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €8k at 30 days acceptable
Liquidity tight (current ratio 1.24 against 1.22 in 2025; short-term debt: 80.7% and cash: 0.6% of total assets), and 82.9% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
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
Sector 68
lower
← 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 2026Solvency, return and age of the figures
Solvency
17.1%
Return on assets
1%
Age of the figures
8 mo
lowers risk · Growing equity
Reported equity is higher than in 2024 and did not fall compared with 2025. These amounts do not establish the cause of the change.
NBB · annual accounts 2026Equity per financial year
1920212223242526
2019 to 2026 · latest year €158k
neutral · A punctual record breaks
This company filed 3 consecutive financial years on time. The year that closed on 09-01-2026 was due by 09-08-2026 and was filed on 13-08-2026, 4 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2026
4 d late
2025
60 d early
2024
30 d early
2023
28 d early
2022
43 d late
2021
9 d early
2020
67 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 09-01-2027 and is due by 09-08-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
21-09-2026 today09-01-2027 close09-08-2027 deadline
Financials · fiscal year 2026, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€9k▼ 74.1%
2025 · €35k
2019: €-101k
2020: €11k
2021: €-77k
2022: €-55k
2023: €-28k
2024: €-27k
2025: €35k
2019 → 2026
Working capital
€177k▲ 5.6%
2025 · €167k
2019: €309k
2020: €320k
2021: €246k
2022: €188k
2023: €160k
2024: €133k
2025: €167k
2019 → 2026
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20222023202420252026Trend
Equity€168k-€140k▼ 16.7%€113k▼ 18.9%€148k▲ 30.8%€158k▲ 6.1%
Operating result€-39k-€-9k▲ 76.5%€-18k▼ 92.2%€32k€-7k
Net result€-55k-€-28k▲ 49.1%€-27k▲ 5.4%€35k€9k▼ 74.1%
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2026: a loss of €7k after €32k in 2025.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €921k
Fixed assets
€670▼ 33.0%
Current assets
€920k▼ 1.6%
Equity and liabilities €921k
Equity
€158k▲ 6.1%
Provisions
€20k=
Debt
€743k▼ 3.2%
The debt ratio falls from 82.0% to 80.7%. Equity is higher and debt is lower.
Key figures and ratios
Solvency
17.1%▲
2025 · 15.8%
Current ratio
1.24▲
2025 · 1.22
Quick ratio
0.11▼
2025 · 0.15
Debt / equity
4.72▼
2025 · 5.17
ROE
5.8%▼
2025 · 23.6%
ROA
1.0%▼
2025 · 3.7%
Debt
€743k▼
2025 · €768k
Debt ≤ 1 year
€743k▼
2025 · €768k
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 · 2026 against 2025
Balance sheet
Code20252026
Assets
Total assets20/58€936k€921k▼
Fixed assets21/28€1k€670▼
Tangible fixed assets22/27€1k€670▼
Plant, machinery and equipment23€1k€670▼
Current assets29/58€935k€920k▼
Stocks and contracts in progress3€821k€836k▲
Stocks30/36€817k€836k▲
Contracts in progress37€4k-
Amounts receivable within one year40/41€8k€21k▲
Trade receivables40€2k€4k▲
Other amounts receivable41€6k€18k▲
Current investments50/53€103k€58k▼
Cash at bank and in hand54/58€3k€5k▲
Equity and liabilities
Total equity and liabilities10/49€936k€921k▼
Equity10/15€148k€158k▲
Contributions10/11€250k€250k=
Capital10€250k€250k=
Issued capital100€250k€250k=
Reserves13€125k€125k=
Non-distributable reserves130/1€25k€25k=
Legal reserve130€25k€25k=
Distributable reserves133€100k€100k=
Profit (loss) carried forward14€-227k€-218k▲
Provisions and deferred taxes16€20k€20k=
Provisions for liabilities and charges160/5€20k€20k=
Major repairs and maintenance162€20k€20k=
Amounts payable17/49€768k€743k▼
Amounts payable within one year42/48€768k€743k▼
Financial debts43€760k€740k▼
Credit institutions430/8€0-
Other loans439€760k€740k▼
Trade debts44€7k€3k▼
Suppliers440/4€7k€3k▼
Taxes, remuneration and social security45€163€332▲
Taxes450/3€163€332▲
Other amounts payable47/48€1k-
Income statement
Code20252026
Other operating charges640/8€9k€6k▼
Gross operating margin9900€41k€-1k▼
Operating profit (loss)9901€32k€-7k▼
Financial income75/76B€17k€24k▲
Recurring financial income75€17k€24k▲
Non-recurring financial income76B€17k€24k▲
Financial charges65/66B€14k€9k▼
Recurring financial charges65€14k€8k▼
Non-recurring financial charges66B€539€1k▲
Profit (loss) for the period before taxes9903€35k€9k▼
Profit (loss) for the period9904€35k€9k▼
Profit (loss) for the period to be appropriated9905€35k€9k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-227k€-218k▲
Profit (loss) brought forward from the previous period14P€-262k€-227k▲
The notes to these accounts (5 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 2027, expected by
2026
13-08
NBB filing
Annual accounts filed
fiscal year 2026 · full schema · 4 days late
09-01
Financial
Equity above €150kEq €158k ▲6.1%
2 profitable years in a row build equity to €158k.
2025
10-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
09-01
Financial
Back to profitnet €35k
Net result €35k after 4 loss-making years.
2024
10-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2023
12-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2022
21-09
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 43 days late
2021
31-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2020
03-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
09-01
Financial
Back to profitnet €11k
Net result €11k after one loss-making year.
2019
15-11
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 98 days late
2018
11-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
24-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 15 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
4 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, Aalst · 1 establishment unit since 2000
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.
Fritz De Wolfkaai 89300 AalstGround area
2,546 m²
Building footprint
996 m²
Volume, LiDAR
18,157 m³
2 parcels, Flanders · tallest building 28.9 m, ±6 floors. Linked by address, not a title deed.
1 establishment unit
Molenstraat 58, 2018 Antwerpen
since 20002.115.842.291
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41002A0715/00L004 | Flanders | 2,241 m² | 1 · 752 m² | 28.9 m · 6 fl. |
| 11810K1515/00H013 | Flanders | 305 m² | 1 · 244 m² | 15.3 m · 4 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Legal Entity Identifier
699400SAGR45OQNEQ782
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SALD
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JPiGal Immo
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Of 9,695 companies in sector 68121 we hold annual accounts for 7,383. 5,332 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded20-06-2000
Fiscal year end09-01
Activities, NACEBEL
68121Development of residential building projects
70111
68122Development of non-residential building projects
68310Real estate agency activities
68311Real estate activities
70112
70113
70311
Sources
Crossroads Bank for EnterprisesNational Bank · 25 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.