PIPPA
ActiveSummary
The computed 12-month bankruptcy probability of PIPPA is 1.9% (moderate). The 2025 annual accounts show equity of €33,404 and a net result of €38,269. Equity is growing by ~186.9% per year across the filed fiscal years. Its solvency ranks better than 32% of 18606 sector peers (fiscal year 2025). The company has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability87▲+15
Solvency38▲+15
Growth78=
Track record94
Bankruptcy probability, 12 months
1.9%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000 at 30 days acceptable
Liquidity short (current ratio 0.8 against 0.62 in 2024; short-term debt: 74.2% and cash: 27.4% of total assets), and 87.2% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
12.8%
Return on assets
14.7%
Age of the figures
9 mo
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 03-07-2026, 28 days ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2025
28 d early
2024
1 d early
2023
5 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 3 accounts on average 11 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 46% 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. Usually files around 27 July (3 of the last 3 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 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 check 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 Which of your other customers can you e-invoice via Peppol?Peppol check What other support did companies like this one receive, and it did not?Public money How does this company compare with its sector?Sector benchmark
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
€33,404
2024 · -€4,865
Total assets
€260,218▲ 1.9%
2024 · €255,409
Net result
€38,269▲ 422%
2024 · €7,335
Working capital
-€37,786▲ 52.3%
2024 · -€79,193
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line202320242025
Operating result-€9,191-€15,337€57,094▲ 272%
Net result-€14,199below the sector's middle half-€7,335within the sector's middle half€38,269above the sector's middle half▲ 422%
Equity-€12,199below the sector's middle half--€4,865below the sector's middle half▲ 60.1%€33,404within the sector's middle half
Total assets€299,603within the sector's middle half-€255,409within the sector's middle half▼ 14.8%€260,218within the sector's middle half▲ 1.9%
Debt€311,802-€260,274▼ 16.5%€226,814▼ 12.9%
Working capital-€73,953below the sector's middle half--€79,193below the sector's middle half▼ 7.1%-€37,786below the sector's middle half▲ 52.3%
Solvency-4.1%below the sector's middle half--1.9%below the sector's middle half▲ 2.2pp12.8%within the sector's middle half▲ 14.7pp
Current ratio0.67below the sector's middle half-0.62below the sector's middle half▼ 0.050.80below the sector's middle half▲ 0.19
Return on assets (ROA)-4.7%below the sector's middle half-2.9%within the sector's middle half▲ 7.6pp14.7%above the sector's middle half▲ 11.8pp
Staff (FTE)16.5-22.3▲ 35.2%22.9▲ 2.7%
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen two years in a row; 2025 is 272% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €260,218
Fixed assets
€104,846 ▼ 17.4%
Current assets
€155,372 ▲ 20.9%
Equity and liabilities €260,218
Equity
€33,404
Debt
€226,814
Debt finances 87.2% of the balance-sheet total.
Key figures and ratios
EBITDA
€95,039▲
2024 · €51,255
Cash flow
€76,214▲
2024 · €43,252
Quick ratio
0.60▲
2024 · 0.39
Debt to equity
6.79▲
2024 · -53.50
ROE
114.6%
Interest coverage
11.71▲
2024 · 7.16
Debt ≤ 1 year
€193,158▼
2024 · €207,711
Debt > 1 year
€33,656▼
2024 · €52,563
Income taxes
€11,662▲
2024 · €1,279
Staff costs
€330,712▲
2024 · €316,330
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,602 companies that looked in July 2024 the way this one looks now, 2.1% went bankrupt within 24 months and 97% are still going.
- Small
- 2 to 5 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
2.1%
went bankrupt
0.9%
stopped otherwise
97%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.9% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 1,602 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Remuneration, social security and pensions62 | €252,663 | €316,330 | €330,712 | ▲ 4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €28,095 | €35,918 | €37,945 | ▲ 5.6% |
| Other operating charges640/8 | €1,349 | €1,675 | €1,812 | ▲ 8.2% |
| Gross operating margin9900 | €272,917 | €369,260 | €427,563 | ▲ 15.8% |
| Operating profit (loss)9901 | -€9,191 | €15,337 | €57,094 | ▲ 272% |
| Financial income75/76B | €144 | €433 | €951 | ▲ 120% |
| Recurring financial income75 | €144 | €433 | €951 | ▲ 120% |
| Financial charges65/66B | €5,025 | €7,156 | €8,115 | ▲ 13.4% |
| Recurring financial charges65 | €5,025 | €7,156 | €8,115 | ▲ 13.4% |
| Profit (loss) for the period before taxes9903 | -€14,073 | €8,614 | €49,931 | ▲ 480% |
| Income taxes67/77 | €126 | €1,279 | €11,662 | ▲ 812% |
| Profit (loss) for the period9904 | -€14,199 | €7,335 | €38,269 | ▲ 422% |
| Profit (loss) for the period to be appropriated9905 | -€14,199 | €7,335 | €38,269 | ▲ 422% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €299,603 | €255,409 | €260,218 | ▲ 1.9% |
| Fixed assets21/28 | €147,723 | €126,891 | €104,846 | ▼ 17.4% |
| Tangible fixed assets22/27 | €147,723 | €126,891 | €104,846 | ▼ 17.4% |
| Plant, machinery and equipment23 | €139,748 | €109,917 | €91,603 | ▼ 16.7% |
| Other tangible fixed assets26 | €7,975 | €16,974 | €13,243 | ▼ 22.0% |
| Current assets29/58 | €151,880 | €128,518 | €155,372 | ▲ 20.9% |
| Stocks and contracts in progress3 | €72,410 | €46,626 | €39,349 | ▼ 15.6% |
| Stocks30/36 | €72,410 | €46,626 | €39,349 | ▼ 15.6% |
| Amounts receivable within one year40/41 | €30,051 | €12,410 | €40,621 | ▲ 227% |
| Trade receivables40 | €30,051 | €12,410 | €40,465 | ▲ 226% |
| Other amounts receivable41 | - | - | €156 | - |
| Cash at bank and in hand54/58 | €47,837 | €65,383 | €71,366 | ▲ 9.2% |
| Deferred charges and accrued income490/1 | €1,582 | €4,099 | €4,035 | ▼ 1.6% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €299,603 | €255,409 | €260,218 | ▲ 1.9% |
| Equity10/15 | -€12,199 | -€4,865 | €33,404 | ▲ 787% |
| Contributions10/11 | €2,000 | €2,000 | €2,000 | = |
| Reserves13 | - | - | €31,404 | - |
| Distributable reserves133 | - | - | €31,404 | - |
| Profit (loss) carried forward14 | -€14,199 | -€6,865 | - | - |
| Amounts payable17/49 | €311,802 | €260,274 | €226,814 | ▼ 12.9% |
| Amounts payable after more than one year17 | €83,935 | €52,563 | €33,656 | ▼ 36.0% |
| Financial debts170/4 | €83,935 | €52,563 | €33,656 | ▼ 36.0% |
| Amounts payable within one year42/48 | €225,833 | €207,711 | €193,158 | ▼ 7.0% |
| Current portion of amounts payable after more than one year42 | €30,915 | €31,373 | €34,806 | ▲ 10.9% |
| Trade debts44 | €64,398 | €66,717 | €62,365 | ▼ 6.5% |
| Suppliers440/4 | €64,398 | €66,717 | €62,365 | ▼ 6.5% |
| Taxes, remuneration and social security45 | €56,157 | €65,522 | €69,353 | ▲ 5.8% |
| Taxes450/3 | €2,632 | €2,630 | €18,172 | ▲ 591% |
| Remuneration and social security454/9 | €53,525 | €62,892 | €51,181 | ▼ 18.6% |
| Other amounts payable47/48 | €74,362 | €44,100 | €26,633 | ▼ 39.6% |
| Accrued charges and deferred income492/3 | €2,034 | €0 | - | - |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | -€14,199 | €7,335 | €38,269 | ▲ 422% |
| + Depreciation and write-downs630 | €28,095 | €35,918 | €37,945 | ▲ 5.6% |
| Operating cash flow (approximation) | €13,896 | €43,252 | €76,214 | ▲ 76.2% |
| Investment in fixed assets (approximation) | - | -€15,087 | -€15,900 | ▼ 5.4% |
| Change in cash | - | €17,546 | €5,983 | ▼ 65.9% |
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
03-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2023net €38,269 ▲422%
Operating result €57,094, net result €38,269, both a record.
30-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €7,335
Net result €7,335 after one loss-making year.
26-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
1 act for this company is 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, Beerse · 1 establishment unit since 2023
Ground area
322 m²
Building footprint
283 m²
Volume, LiDAR
1,583 m³
Parcel 13004A0275/00K003, Flanders · tallest building 10.9 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Slagerij Havermans Beerse
since 20232.342.773.494
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13004A0275/00K003 | Flanders | 322 m² | 1 · 283 m² | 10.9 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
2024 to 2025 · 2 entries · 568 EUR awarded · 568 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 274 EUR | 274 EUR |
| 2024 | 1 | 294 EUR | 294 EUR |
Recognitions · licences · registrations
Food safety, FASFC
1 siteBeerse2.342.773.494
Similar companies · same sector, comparable size
I.M.S. Market
BE 0713.548.331
Saint-Nicolas · Eq €33,428
LEITZ OLIVIER
BE 0834.973.624
Libramont-Chevigny · Eq €33,222
Boucherie Mosane
BE 0479.259.479
Seraing · Eq €33,590
THE SAVORY SANDWICH
BE 0788.557.540
Zaventem · Eq €33,000
SERVICE STORE
BE 0689.738.096
Aalter · Eq €32,911
Of 3,043 companies in sector 47221 we hold annual accounts for 1,566. 1,200 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
Founded14-03-2023
Fiscal year end31-12
Activities, NACEBEL 2025
47221Retail sale of meat and meat products, excluding game and poultry
46170Agents in the wholesale of food, beverages and tobacco
E-invoicing
Reachable via Peppol
Peppol ID
0208:0799481918
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.