Pipeprotector
ActiveSummary
Pipeprotector has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€9,870) and a net result of -€48,926. Equity remains stable across the filed fiscal years (±1.7% per year). Its solvency ranks better than 7% of 8711 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-86
Solvency13▼-82
Growth32▼-46
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.67 against 3.03 in 2024; short-term debt: 111.6% and cash: 21.6% of total assets), and equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-11.6%
Return on assets
-57.3%
Age of the figures
9 mo
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
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€9,870
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 14-07-2026, 17 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
17 d early
2024
36 d early
2023
29 d late
2022
4 d early
2021
6 d early
2020
15 d early
2019
90 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 6 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file What other support did companies like this one receive, and it did not?Subsidy mirror How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
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Financials · fiscal year 2025, abbreviated schema
Equity
-€9,870
2024 · €39,055
Total assets
€85,406▲ 52.6%
2024 · €55,964
Net result
-€48,926
2024 · €7,588
Working capital
-€31,712
2024 · €34,345
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€6,420-€2,425-€6,567▼ 171%€7,638-€48,220
Net result€4,715-€2,556-€6,693▼ 162%€7,588-€48,926
Equity€40,715▲ 13.1%€38,160▼ 6.3%€31,467▼ 17.5%€39,055▲ 24.1%-€9,870
Total assets€83,967▲ 4.2%€38,357▼ 54.3%€31,885▼ 16.9%€55,964▲ 75.5%€85,406▲ 52.6%
Debt€43,251▼ 3.0%€197▼ 99.5%€419▲ 112%€16,908▲ 3,940%€95,277▲ 463%
Working capital€16,157▲ 12.8%€22,324▲ 38.2%€25,446▲ 14.0%€34,345▲ 35.0%-€31,712
Staff (FTE)0.5
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €48,220 after €7,638 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €85,406
Fixed assets
€21,842 ▲ 364%
Current assets
€63,564 ▲ 24.0%
Key figures and ratios
EBITDA
-€43,294▼
2024 · €10,213
Cash flow
-€43,999▼
2024 · €10,163
Solvency
-11.6%▼
2024 · 69.8%
Current ratio
0.67▼
2024 · 3.03
Quick ratio
0.38▼
2024 · 2.39
Debt to equity
-9.65▼
2024 · 0.43
ROA
-57.3%▼
2024 · 13.6%
Interest coverage
-85.95▼
2024 · 24.24
Debt ≤ 1 year
€95,277▲
2024 · €16,908
Income taxes
€203
Staff costs
€31,889
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €1 | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | - | €31,889 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8,685 | €9,819 | €9,815 | €2,575 | €4,927 | ▲ 91.4% |
| Other operating charges640/8 | €1,349 | €212 | €978 | €744 | €530 | ▼ 28.8% |
| Gross operating margin9900 | €16,453 | €7,606 | €4,226 | €10,957 | -€10,875 | ▼ 199% |
| Operating profit (loss)9901 | €6,420 | -€2,425 | -€6,567 | €7,638 | -€48,220 | ▼ 731% |
| Financial income75/76B | €22 | €30 | €0 | €371 | €1 | ▼ 99.7% |
| Recurring financial income75 | €22 | €30 | €0 | €371 | €1 | ▼ 99.7% |
| Financial charges65/66B | €1,727 | €161 | €125 | €421 | €504 | ▲ 19.6% |
| Recurring financial charges65 | €1,727 | €161 | €125 | €421 | €504 | ▲ 19.6% |
| Profit (loss) for the period before taxes9903 | €4,715 | -€2,556 | -€6,693 | €7,588 | -€48,723 | ▼ 742% |
| Income taxes67/77 | - | - | - | - | €203 | - |
| Profit (loss) for the period9904 | €4,715 | -€2,556 | -€6,693 | €7,588 | -€48,926 | ▼ 745% |
| Profit (loss) for the period to be appropriated9905 | €4,715 | -€2,556 | -€6,693 | €7,588 | -€48,926 | ▼ 745% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €83,967 | €38,357 | €31,885 | €55,964 | €85,406 | ▲ 52.6% |
| Fixed assets21/28 | €25,654 | €15,836 | €6,021 | €4,710 | €21,842 | ▲ 364% |
| Intangible fixed assets21 | €15,246 | €7,746 | €247 | €7 | €15,734 | ▲ 229,588% |
| Tangible fixed assets22/27 | €10,408 | €8,090 | €5,774 | €4,703 | €6,108 | ▲ 29.9% |
| Plant, machinery and equipment23 | - | - | - | - | €4,145 | - |
| Furniture and vehicles24 | €10,408 | €8,090 | €5,774 | €4,703 | €1,963 | ▼ 58.3% |
| Current assets29/58 | €58,312 | €22,521 | €25,865 | €51,254 | €63,564 | ▲ 24.0% |
| Stocks and contracts in progress3 | €13,995 | €10,695 | €10,960 | €10,787 | €27,169 | ▲ 152% |
| Stocks30/36 | €13,995 | €10,695 | €10,960 | €10,787 | €27,169 | ▲ 152% |
| Amounts receivable within one year40/41 | €21,946 | €2,966 | €4,736 | €35,265 | €17,312 | ▼ 50.9% |
| Trade receivables40 | €21,253 | €2,966 | €4,657 | €34,566 | €17,217 | ▼ 50.2% |
| Other amounts receivable41 | €693 | €0 | €79 | €699 | €95 | ▼ 86.4% |
| Cash at bank and in hand54/58 | €22,371 | €8,860 | €9,168 | €4,926 | €18,417 | ▲ 274% |
| Deferred charges and accrued income490/1 | - | - | €1,000 | €276 | €667 | ▲ 142% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €83,967 | €38,357 | €31,885 | €55,964 | €85,406 | ▲ 52.6% |
| Equity10/15 | €40,715 | €38,160 | €31,467 | €39,055 | -€9,870 | ▼ 125% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €23,237 | €23,237 | €12,867 | €20,455 | €20,455 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | €21,377 | €21,377 | €12,867 | €20,455 | €20,455 | = |
| Profit (loss) carried forward14 | -€1,122 | -€3,678 | - | - | -€48,926 | - |
| Amounts payable17/49 | €43,251 | €197 | €419 | €16,908 | €95,277 | ▲ 463% |
| Amounts payable within one year42/48 | €42,155 | €197 | €419 | €16,908 | €95,277 | ▲ 463% |
| Trade debts44 | €7,681 | €153 | €419 | €3,043 | €20,212 | ▲ 564% |
| Suppliers440/4 | €7,681 | €153 | €419 | €3,043 | €20,212 | ▲ 564% |
| Advances received on contracts in progress46 | - | - | - | - | €265 | - |
| Taxes, remuneration and social security45 | €470 | €44 | - | - | €1,730 | - |
| Taxes450/3 | €470 | €44 | - | - | €810 | - |
| Remuneration and social security454/9 | - | - | - | - | €921 | - |
| Other amounts payable47/48 | €34,004 | €0 | - | €13,865 | €73,070 | ▲ 427% |
| Accrued charges and deferred income492/3 | €1,096 | €0 | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €4,715 | -€2,556 | -€6,693 | €7,588 | -€48,926 | ▼ 745% |
| + Depreciation and write-downs630 | €8,685 | €9,819 | €9,815 | €2,575 | €4,927 | ▲ 91.4% |
| Operating cash flow (approximation) | €13,400 | €7,263 | €3,123 | €10,163 | -€43,999 | ▼ 533% |
| Investment in fixed assets (approximation) | - | €0 | -€1 | -€1,263 | -€22,059 | ▼ 1,646% |
| Change in cash | - | -€13,511 | €308 | -€4,243 | €13,491 | ▲ 418% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
14-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Weakest financial yearnet -€48,926
Net result drops to -€48,926, the lowest in the series.
25-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Back to profitnet €7,588
Net result €7,588 after 2 loss-making years.
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 29 days late
2023
27-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Liquidity times 83current ratio 114.23
Current ratio from 1.38 to 114.23; short-term debt falls from €42,155 to €197.
25-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €4,715
Net result €4,715 after 2 loss-making years.
16-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
29-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 90 days late
2019
24-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
13-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
28-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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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, Harelbeke · 1 establishment unit since 2015
Ground area
3,786 m²
Building footprint
1,149 m²
Volume, LiDAR
5,779 m³
Parcel 34323D1569/00C002, Flanders · tallest building 7.4 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Fermanox.be
since 20152.238.284.502
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34323D1569/00C002 | Flanders | 3,786 m² | 1 · 1,149 m² | 7.4 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2025 · 1 entry · 1,500 EUR awarded · 1,500 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 1,500 EUR | 1,500 EUR |
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Of 82,632 companies in sector 70200 we hold annual accounts for 52,587. 36,537 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded07-01-2015
Fiscal year end31-12
Activities, NACEBEL 2025
46649Wholesale of other machinery and equipment
70200Business and other management consultancy
71209Other technical testing and analysis
81230Other cleaning activities
Scores and ratios are computed by Checked and are not a credit decision.