PIPPA
Annual accounts 2025
micro format, filed on 07-07-2026, 24 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 ≈ €180,000. Estimated: probably between €96,000 and €320,000.
Balance sheet
balance sheet total €695,212 on 31-12-2025in euro
in euro
Position in the sector
9.4%
Higher than 29% of 22,869 companies in 2025.
5.00
Higher than 87% of 22,000 companies in 2025.
0.4%
Higher than 35% of 22,150 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: top quarter · Working capital: top quarter
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Balance sheet: assets | ||||
20/58 |
695,212 | 212,189 | 154,217 | |
21/28 |
438,012 | 3,794 | 5,497 | |
22/27 |
438,012 | 3,794 | 5,497 | |
22 |
422,003 | - | - | |
23 |
16,009 | 3,794 | 5,497 | |
29/58 |
257,199 | 208,395 | 148,720 | |
3 |
156,330 | 140,988 | 83,943 | |
30/36 |
156,330 | 140,988 | 83,943 | |
40/41 |
16,755 | 10,932 | - | |
40 |
6,802 | 10,564 | - | |
41 |
9,954 | 369 | - | |
54/58 |
84,114 | 55,521 | 60,812 | |
490/1 |
- | 954 | 3,965 | |
| Balance sheet: equity and liabilities | ||||
10/49 |
695,212 | 212,189 | 154,217 | |
10/15 |
65,155 | 62,389 | 25,120 | |
10/11 |
5,000 | 5,000 | 5,000 | |
14 |
60,155 | 57,389 | 20,120 | |
17/49 |
630,057 | 149,800 | 129,097 | |
17 |
578,597 | - | - | |
170/4 |
578,597 | - | - | |
42/48 |
51,460 | 149,800 | 129,097 | |
42 |
25,467 | - | - | |
44 |
5,619 | 18,336 | 5,655 | |
440/4 |
5,619 | 18,336 | 5,655 | |
45 |
20,374 | 25,615 | 13,406 | |
450/3 |
20,374 | 25,615 | 13,406 | |
47/48 |
- | 105,849 | 110,036 | |
| Income statement | ||||
9900 |
36,971 | 48,671 | 25,658 | |
630 |
19,548 | 1,703 | 503 | |
9901 |
17,422 | 46,968 | 25,155 | |
75/76B |
271 | 1,011 | 259 | |
75 |
271 | 1,011 | 259 | |
65/66B |
14,206 | - | 25 | |
65 |
14,206 | - | 25 | |
9903 |
3,487 | 47,979 | 25,390 | |
67/77 |
722 | 10,710 | 5,270 | |
9904 |
2,766 | 37,269 | 20,120 | |
9905 |
2,766 | 37,269 | 20,120 | |
| Appropriation of the result | ||||
9906 |
60,155 | 57,389 | 20,120 | |
14P |
57,389 | 20,120 | - | |
| Document | ||||
The notes to these accounts have 11 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 07-07-2026.
Filings
each dot is a set of accounts, on the day it reached the National BankSubsidies and aid
Flemish government 2024 to 2025, 2 entries, €5,741 awarded, €5,741 paid
| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €4,212 | €4,212 |
| 2024 | 1 | €1,529 | €1,529 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| 36,971 | 48,671 | 25,658 | ||
| 22,314 | 38,972 | 20,623 | ||
| 453,767 | 0 | 6,000 | ||
| 28,593 | -5,291 | - | ||
| 205,739 | 58,595 | 19,623 | ||
| 9.4% | 29.4% | 16.3% | ||
| 5.00 | 1.39 | 1.15 | ||
| 1.96 | 0.45 | 0.50 | ||
| 9.67 | 2.40 | 5.14 | ||
| 4.2% | 59.7% | 80.1% | ||
| 0.4% | 17.6% | 13.0% | ||
| 2.60 | - | over 100 |
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.
Securities and guarantees
on own assets and for others| Item | 2025 | 2024 | 2023 |
|---|---|---|---|
| Mortgages, amount registered | €27,500 | - | - |
| €324,500 | - | - | |
| Carrying value of the mortgaged assets | €422,003 | - | - |
| €110,000 | - | - | |
| Mandates to pledge the business | €275 | - | - |
Source: notes to the 2023 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 |
|---|---|---|---|
| Tangible fixed assets | €453,767 | - | €6,000 |
| €19,548 | €1,703 | €503 |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
Insights on PIPPA
The operating result for 2025 is 63% lower than in 2024 and the lowest since 2023.
Debt's share of the balance-sheet total rises from 70.6% to 90.6%. Equity and debt are higher.