PIPING & CONSTRUCTIONS
Annual accounts 2025
micro format, filed on 17-07-2026, 14 days before the deadlineTurnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €140,000. Estimated: probably between €61,000 and €280,000.
Balance sheet
balance sheet total €134,574 on 31-12-2025in euro
Position in the sector
95.9%
Higher than 95% of 2,343 companies in 2025.
14.06
Higher than 95% of 2,309 companies in 2025.
5.0%
Higher than 45% of 2,323 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: middle half · Working capital: middle half
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||||||
20/58 |
134,574 | 154,930 | 192,543 | 177,752 | 128,147 | 111,843 | 103,802 | 102,083 | 113,585 | 108,175 | 72,196 | 42,350 | 45,771 | 52,796 | |
21/28 |
57,816 | 68,699 | 84,862 | 76,532 | 39,593 | 28,106 | 27,439 | 38,064 | 45,953 | 59,377 | 10,544 | 10,751 | 14,473 | 16,273 | |
21 |
- | - | 870 | 1,929 | 2,987 | - | - | - | - | - | - | 233 | 466 | - | |
22/27 |
57,401 | 68,284 | 83,577 | 74,188 | 36,191 | 27,691 | 27,024 | 37,649 | 45,538 | 58,962 | 10,129 | 10,418 | 13,907 | 16,273 | |
23 |
56,694 | 68,195 | 80,180 | 67,221 | 25,653 | 15,531 | 21,506 | 27,536 | 30,368 | 38,736 | 10,129 | 10,418 | 13,624 | 15,565 | |
24 |
706 | 89 | 3,397 | 6,967 | 10,538 | 12,160 | 5,518 | 10,113 | 15,170 | 20,226 | - | - | 283 | 708 | |
28 |
415 | 415 | 415 | 415 | 415 | 415 | 415 | 415 | 415 | 415 | 415 | 100 | 100 | - | |
29/58 |
76,759 | 86,231 | 107,681 | 101,220 | 88,554 | 83,737 | 76,363 | 64,019 | 67,632 | 48,798 | 61,652 | 31,599 | 31,298 | 36,523 | |
29 |
51,808 | 53,172 | 50,667 | 42,932 | 47,668 | 49,300 | 53,591 | - | - | - | - | - | - | - | |
291 |
51,808 | 53,172 | 50,667 | 42,932 | 47,668 | 49,300 | 53,591 | - | - | - | - | - | - | - | |
40/41 |
20,103 | 30,075 | 38,823 | 51,115 | 28,880 | 17,876 | 16,871 | 60,993 | 64,816 | 46,008 | 31,813 | 27,751 | 28,249 | 33,037 | |
40 |
18,537 | 21,264 | 25,660 | 29,080 | 23,507 | 15,903 | 11,239 | 15,978 | 24,153 | 19,526 | 24,696 | 11,737 | 13,973 | 23,667 | |
41 |
1,566 | 8,811 | 13,163 | 22,035 | 5,373 | 1,974 | 5,632 | 45,015 | 40,663 | 26,482 | 7,117 | 16,014 | 14,276 | 9,370 | |
54/58 |
- | - | 12,854 | 1,526 | 7,782 | 12,425 | 2,988 | - | - | - | 26,886 | 782 | - | 1,095 | |
490/1 |
4,848 | 2,984 | 5,338 | 5,647 | 4,224 | 4,137 | 2,912 | 3,026 | 2,816 | 2,790 | 2,953 | 3,066 | 3,049 | 2,392 | |
| Balance sheet: equity and liabilities | |||||||||||||||
10/49 |
134,574 | 154,930 | 192,543 | 177,752 | 128,147 | 111,843 | 103,802 | 102,083 | 113,585 | 108,175 | 72,196 | 42,350 | 45,771 | 52,796 | |
10/15 |
129,114 | 122,402 | 129,829 | 104,261 | 102,978 | 95,326 | 91,917 | 84,812 | 76,817 | 62,292 | 51,491 | 39,113 | 37,498 | 31,738 | |
10/11 |
12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | - | - | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | |
13 |
117,429 | 117,429 | 117,429 | 91,861 | 90,578 | 82,926 | 79,517 | 72,412 | 64,417 | 49,892 | 39,091 | 26,713 | 25,098 | 19,338 | |
130/1 |
- | - | - | 1,860 | 1,860 | 1,860 | - | - | - | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | |
1311 |
- | - | - | 1,860 | 1,860 | 1,860 | - | - | - | - | - | - | - | - | |
133 |
117,429 | 117,429 | 117,429 | 90,001 | 88,718 | 81,066 | 77,657 | 70,552 | 62,557 | 48,032 | 37,231 | 24,853 | 23,238 | 17,478 | |
14 |
-716 | -7,427 | - | - | - | - | - | - | - | - | - | - | - | - | |
17/49 |
5,460 | 32,528 | 62,714 | 73,491 | 25,169 | 16,517 | 11,885 | 17,271 | 36,767 | 45,883 | 20,705 | 3,237 | 8,273 | 21,058 | |
17 |
- | 298 | 16,061 | 31,644 | 10,448 | 8,484 | 3,063 | 8,221 | 13,681 | 18,604 | 3,797 | - | - | - | |
170/4 |
- | 298 | 16,061 | 31,644 | 10,448 | 8,484 | 3,063 | 8,221 | 13,681 | 18,604 | 3,797 | - | - | - | |
42/48 |
5,460 | 31,780 | 45,989 | 41,121 | 14,720 | 8,033 | 8,822 | 9,050 | 23,086 | 27,278 | 16,908 | 3,237 | 8,273 | 21,058 | |
42 |
298 | 15,955 | 22,680 | 21,551 | 6,347 | 5,714 | 5,159 | 5,044 | 4,756 | 12,112 | 4,975 | - | - | 4,764 | |
43 |
488 | 10,500 | - | - | - | - | - | 1,260 | 5,000 | 4,999 | - | - | 4,242 | - | |
430/8 |
488 | 10,500 | - | - | - | - | - | 1,260 | 5,000 | 4,999 | - | - | 4,242 | - | |
44 |
904 | 4,076 | 18,771 | 16,570 | 5,807 | 921 | 438 | 1,312 | 7,678 | 7,818 | 6,998 | 935 | 856 | 13,234 | |
440/4 |
904 | 4,076 | 18,771 | 16,570 | 5,807 | 921 | 438 | 1,312 | 7,678 | 7,818 | 6,998 | 935 | 856 | 13,234 | |
45 |
3,770 | 1,249 | 4,537 | 3,000 | 1,766 | 599 | 2,414 | 634 | 5,652 | 2,350 | 4,935 | 2,302 | 3,176 | 3,060 | |
450/3 |
2,470 | 349 | 4,537 | 3,000 | 1,766 | 599 | 2,414 | 634 | 5,652 | 2,350 | 4,935 | 2,302 | 3,176 | 3,060 | |
454/9 |
1,300 | 900 | - | - | - | - | - | - | - | - | - | - | - | - | |
47/48 |
- | - | - | - | 800 | 800 | 812 | 800 | - | - | - | - | - | - | |
492/3 |
- | 449 | 664 | 726 | - | - | - | - | - | - | - | - | - | - | |
| Income statement | |||||||||||||||
9900 |
21,280 | 11,013 | 54,772 | 35,101 | 22,839 | 20,185 | 24,873 | 23,077 | 34,450 | 31,352 | 25,630 | 12,144 | 12,778 | 30,696 | |
630 |
11,866 | 16,163 | 18,694 | 13,954 | 11,706 | 14,067 | 12,118 | 12,862 | 13,425 | 16,509 | 3,901 | 3,723 | 3,895 | 4,606 | |
640/8 |
785 | 1,313 | 1,622 | 770 | 996 | 742 | 832 | 857 | 855 | 826 | 543 | 622 | 422 | 190 | |
9901 |
8,629 | -6,464 | 34,457 | 20,377 | 10,138 | 5,376 | 11,923 | 9,359 | 20,171 | 14,017 | 21,186 | 7,799 | 8,462 | 25,900 | |
75/76B |
697 | 664 | 630 | 702 | 700 | 1,511 | 8 | 3,708 | 2,870 | 1,395 | 532 | 640 | 653 | 337 | |
75 |
697 | 664 | 630 | 702 | 700 | 1,511 | 8 | 3,708 | 2,870 | 1,395 | 532 | 640 | 653 | 337 | |
65/66B |
2,030 | 1,278 | 2,257 | 19,668 | 889 | 812 | 703 | 1,380 | 1,756 | 811 | 783 | 999 | 761 | 233 | |
65 |
2,030 | 1,278 | 2,257 | 1,354 | 889 | 812 | 703 | 1,380 | 1,756 | 811 | 783 | 999 | 761 | 233 | |
66B |
- | - | - | 18,315 | - | - | - | - | - | - | - | - | - | - | |
9903 |
7,295 | -7,078 | 32,830 | 1,411 | 9,949 | 6,076 | 11,228 | 11,687 | 21,285 | 14,601 | 20,935 | 7,440 | 8,353 | 26,004 | |
67/77 |
584 | 349 | 7,262 | 128 | 2,297 | 1,867 | 3,310 | 2,892 | 6,760 | 3,800 | 8,557 | 5,825 | 2,593 | 6,666 | |
9904 |
6,711 | -7,427 | 25,568 | 1,283 | 7,652 | 4,209 | 7,917 | 8,795 | 14,525 | 10,801 | 12,378 | 1,615 | 5,760 | 19,338 | |
9905 |
6,711 | -7,427 | 25,568 | 1,283 | 7,652 | 4,209 | 7,917 | 8,795 | 14,525 | 10,801 | 12,378 | 1,615 | 5,760 | 19,338 | |
| Appropriation of the result | |||||||||||||||
9906 |
-716 | -7,427 | 25,568 | 1,283 | 7,652 | 4,209 | 7,917 | 8,795 | 14,525 | 10,801 | 12,378 | 1,615 | 5,760 | 19,338 | |
14P |
-7,427 | - | - | - | - | - | - | - | - | - | - | - | - | - | |
691/2 |
- | - | 25,568 | 1,283 | 7,652 | 3,409 | 7,105 | 7,995 | 14,525 | 10,801 | 12,378 | 1,615 | 5,760 | 19,338 | |
6920 |
- | - | - | - | - | - | - | - | - | - | - | - | - | 1,860 | |
6921 |
- | - | 25,568 | 1,283 | 7,652 | 3,409 | 7,105 | 7,995 | 14,525 | 10,801 | 12,378 | 1,615 | 5,760 | 17,478 | |
694/7 |
- | - | - | - | - | 800 | 812 | 800 | - | - | - | - | - | - | |
694 |
- | - | - | - | - | 800 | 812 | - | - | - | - | - | - | - | |
695 |
- | - | - | - | - | - | - | 800 | - | - | - | - | - | - | |
| Document | |||||||||||||||
The notes to these accounts have 9 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 17-07-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 17-07-2026 | 2026-00308929 | |
| 31-12-2024 | micro format | 22-07-2025 | 2025-00312847 | |
| 31-12-2023 | micro format | 24-07-2024 | 2024-00285018 | |
| 31-12-2022 | micro format | 31-08-2023 | 2023-00440914 | |
| 31-12-2021 | micro format | 30-07-2022 | 2022-20252078 | |
| 31-12-2020 | micro format | 01-07-2021 | 2021-29500085 | |
| 31-12-2019 | micro format | 01-07-2020 | 2020-26100120 | |
| 31-12-2018 | micro format | 24-07-2019 | 2019-37000561 | |
| 31-12-2017 | micro format | 09-07-2018 | 2018-33400182 | |
| 31-12-2016 | micro format | 20-07-2017 | 2017-34400520 | |
| 31-12-2015 | abbreviated format | 26-08-2016 | 2016-51900430 | |
| 31-12-2014 | abbreviated format | 30-06-2015 | 2015-25300112 | |
| 31-12-2013 | abbreviated format | 30-09-2014 | 2014-63000569 | |
| 31-12-2012 | abbreviated format | 30-08-2013 | 2013-53600374 |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 20,495 | 9,699 | 53,150 | 34,331 | 21,843 | 19,444 | 24,041 | 22,221 | 33,595 | 30,526 | 25,087 | 11,522 | 12,356 | 30,506 | ||
| 18,578 | 8,736 | 44,262 | 15,237 | 19,357 | 18,276 | 20,035 | 21,657 | 27,950 | 27,310 | 16,279 | 5,338 | 9,654 | 23,944 | ||
| 983 | 0 | 27,024 | 50,892 | 23,193 | 14,734 | 1,493 | 4,973 | 0 | 65,342 | 3,694 | 1 | 2,095 | 20,879 | ||
| - | - | 11,328 | -6,256 | -4,643 | 9,436 | - | - | - | - | 26,104 | - | - | - | ||
| 71,298 | 54,451 | 61,692 | 60,098 | 73,833 | 75,704 | 67,541 | 54,969 | 44,545 | 21,519 | 44,744 | 28,362 | 23,024 | 15,465 | ||
| 95.9% | 79.0% | 67.4% | 58.7% | 80.4% | 85.2% | 88.6% | 83.1% | 67.6% | 57.6% | 71.3% | 92.4% | 81.9% | 60.1% | ||
| 14.06 | 2.71 | 2.34 | 2.46 | 6.02 | 10.42 | 8.66 | 7.07 | 2.93 | 1.79 | 3.65 | 9.76 | 3.78 | 1.73 | ||
| 0.04 | 0.27 | 0.48 | 0.70 | 0.24 | 0.17 | 0.13 | 0.20 | 0.48 | 0.74 | 0.40 | 0.08 | 0.22 | 0.66 | ||
| 5.2% | -6.1% | 19.7% | 1.2% | 7.4% | 4.4% | 8.6% | 10.4% | 18.9% | 17.3% | 24.0% | 4.1% | 15.4% | 60.9% | ||
| 5.0% | -4.8% | 13.3% | 0.7% | 6.0% | 3.8% | 7.6% | 8.6% | 12.8% | 10.0% | 17.1% | 3.8% | 12.6% | 36.6% | ||
| 10.09 | 7.59 | 23.55 | 25.36 | 24.56 | - | - | - | - | - | - | - | - | - |
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.
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €983 | - | €27,024 | €50,892 | €20,017 |
| Intangible fixed assets | - | - | - | - | €3,176 |
| €11,866 | €16,163 | €18,694 | €13,954 | €11,706 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Insights on PIPING & CONSTRUCTIONS
The operating result for 2025 is a profit of €8,629, after a loss of €6,464 in 2024.
Debt's share of the balance-sheet total falls from 21.0% to 4.1%. Equity is higher and debt is lower.