Turnover
≈ €180,000 estimated
The micro format states no turnover.
PIPPA
Overview
Lifetime
3 annual accounts with figures on one time axispeak €48,671 (2024)
€36,971▼ 24.0%
peak €37,269 (2024)
€2,766▼ 92.6%
peak €65,155 (2025)
€65,155▲ 4.4%
€630,057▲ 321%
Board1 name since 2023
1 directorDENS Cato
Documentsfilings and deeds
07-07-202624 days before the deadline
2025micro format
Gross margin from €48,671 to €36,971Result from €37,269 to €2,766Registered office moved within Schilde 03-09Debts from €149,800 to €630,057Investments €453,767Cash from €55,521 to €84,114
Key points
from the 2025 annual accountsDebts
€630,057 91% of the balance sheet
Financial debts 92%Suppliers 1%Taxes and wages 3%Other 4%
Of this, €51,460 falls due within a year.
Securities
€324,500
Mortgage mandates, new in 2025. 5.0 times equity · not in the 2024 accounts.
Investments
€453,767 23.2 × depreciation
Green is investment, beige is depreciation. Machinery stands 322.0% higher than in 2024.
Liquidity
5.00 was 1.39 in 2024
Short-term debts fell from €149,800 to €51,460.
Filings
3 annual accounts 1 late
The 2023 accounts came 27 days late. The other two were filed on time.
Checked score
65
Healthy
Financially stronger than 45% of micro companies in retail trade (NACE 47)
Probability in this band: 0.55% to 1.5%
Bankruptcy probability within 12 months
1.3% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.6% across 40,280 companies (NACE 47, micro).
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 1.1%
01-2025: 1.1%● unchanged vs 12-2024
02-2025: 1.1%● unchanged vs 01-2025
03-2025: 1.2%▲ +0.1 percentage points vs 02-2025
04-2025: 1.3%▲ +0.1 percentage points vs 03-2025
05-2025: 1.3%● unchanged vs 04-2025
06-2025: 1.3%● unchanged vs 05-2025
07-2025: 1.3%● unchanged vs 06-2025
08-2025: 0.8%▼ -0.5 percentage points vs 07-2025lowest value
09-2025: 0.8%● unchanged vs 08-2025
10-2025: 1.2%▲ +0.4 percentage points vs 09-2025
11-2025: 1.2%● unchanged vs 10-2025
12-2025: 1.2%● unchanged vs 11-2025
01-2026: 1.2%● unchanged vs 12-2025
02-2026: 1.2%● unchanged vs 01-2026
03-2026: 1.2%● unchanged vs 02-2026
04-2026: 1.4%▲ +0.2 percentage points vs 03-2026
05-2026: 1.8%▲ +0.4 percentage points vs 04-2026
06-2026: 1.7%▼ -0.1 percentage points vs 05-2026
07-2026: 1.8%▲ +0.1 percentage points vs 06-2026highest value
08-2026: 1.2%▼ -0.6 percentage points vs 07-2026
09-2026: 1.2%● unchanged vs 08-2026
10-2026: 1.3%▲ +0.1 percentage points vs 09-2026
11-2026: 1.3%● unchanged vs 10-2026
Financial strengthAverage
Score breakdown
raises risk
Founded in 2023
1 change of registered office in 24 months
Equity €65,155 (9.4% of total assets)
lowers risk
Figures for financial year 2025 (filed on 07-07-2026)
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 47, micro). It does better than 26% of them on solvency, 72% on liquidity, 31% on profitability and 51% on growth.
The bankruptcy probability was computed on 06-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 1,514 companies had the same profile as PIPPA has now. Each dot stands for 4 companies, two years later.
95.8%
were still trading
1.5%
stopped another way
2.4%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of PIPPA itself: 1.3% within 12 months.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 1,514 companies, not a prediction for PIPPA. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €4,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 5.0 (1.39 in 2024), above the usual 1.5. Short-term debt is 7.4% and cash 12.1% of total assets. However, 90.6% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
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 07-07-2026, 24 days ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2025
24 days early
2024
6 days early
2023
27 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 3 accounts on average 1 day before the deadline. In the sector (NACE 47), the median for financial year 2024 was on the deadline day, and 47% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 25 July (3 of the last 3 accounts filed within 34 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
07-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0804877294
Registered office moved within Schilde
New registered office: Turnhoutsebaan 326-2970 Schilde · Previous registered office: Turnhoutsebaan 260, 2970 Schilde · Gazette deed
Incorporation
Founding capital of €5,000, 100 shares · Founder: DENS Cato (comparant) · Appointment: DENS Cato (director) · published on 21-08-2023 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| PIPPA Schilde | €695,212 | €36,971 | 9.4% | - |
| FEROMO Retie | €318,402 | €24,462 | 12.0% | - |
| RaFoLL Frasnes-lez-Anvaing | €378,559 | €65,284 | 6.1% | - |
| Doremi Colembie Ronse | €507,015 | €38,623 | 14.4% | - |
| Schoenen VEGRID Geel | €444,651 | €105,849 | 39.3% | - |
| HP81 Sint-Pieters-Leeuw | €974,896 | €66,150 | 36.0% | - |
| SCHOENEN MARREL Brecht | €574,113 | €146,444 | 1.9% | 2.7 |
These companies have the same main activity as PIPPA: retail sale of footwear (NACE 47721). They are comparable in size and age: total assets between €318,000 and €975,000, founded between 2020 and 2024.
Official details
Source: KBO- Status
- Active since 17-08-2023Normal situation
- Activity
- Retail sale of footwearNACE 47721and 6 others
- Establishment unit
- 2.348.328.3292970 Schilde, since 17-08-2023
- Financial year end
- 31 December
- Peppol
- Reachable since 19-12-2025
Annual accounts 2025
- €36,971▼ 24.0%
- €2,766▼ 92.6%
- €65,155▲ 4.4%
- €695,212▲ 228%
- Filing
- Filed on 07-07-2026, 24 days before the end of the filing period
Insights on PIPPA
PIPPA files the micro format. That format states no turnover. The gross margin rose from €25,658 in 2023 to €36,971 in 2025.
The balance sheet grew most from 2024 to 2025 through fixed assets.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Financials
Annual accounts 2025
micro format, filed on 07-07-2026, 24 days before the deadline€36,971
▼ 24.0%
€17,422
▼ 62.9%
€2,766
▼ 92.6%
€205,739
▲ 251%
9.4%
▼ 20.0 percentage points
5.00
▲ 3.61
Turnover 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 31-12-2025What the company ownsHow it is paid for
in 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.
PIPPA
Middle half of the sector
80% of the sector
Micro accounts in retail trade (NACE 47)
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.
Board & ownership
Board
1 director, since incorporationDirector
since 01-08-2023
term without a fixed end
listed in the 2025 annual accounts, filed on 07-07-2026
Mandates through the years
1 name, the dashed line is todayControl
Capital
- Contribution
- €5,000
- Shares
- 100
- Contribution per share
- €50
- Equity per share
- €652 in 2025
- Source
- deed of 21-08-2023
Articles of association
deed of 21-08-2023 (in Dutch)- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimited
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- 1 director
- Transfer restrictionThis rule says whether shareholders may sell their shares freely or need approval first.
- “Helft overdrager,helft koper(s) naar evenredigheid aantal bij meerdere kopers, elke overdracht of overgang onder bijzondere of algemene…”
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- Second Monday of June at 17:00
- Statutory auditorA statutory auditor is a registered auditor who checks the annual accounts. Small companies need not have one. According to the deed, the legal criteria do not require one here.
- No statutory auditor
- Dissolution ruleThe articles set when and by whom the company can be dissolved.
- “Artikel 32, niet langer vaststaat dat vennootschap volgens redelijkerwijs te verwachten ontwikkelingen in staat zal zijn om gedurende…”
Shareholders
At incorporation
deed of 21-08-2023 ↗
- DENS Cato 100 shares (100%) · €5,000 in cash
Network & group
No group
PIPPA has no parent and no holdings in its annual accounts. DENS Cato is the only director. PIPPA shares no director with another company.
Timeline
Timeline
10 events since 2023Filings
Financial
Establishments
Address
2023202420252026
Deadline for the 2026 accounts: 31-07-2027
2026
Annual accounts 2025 filed NBBmicro format · 24 days before the deadline
2025
Weakest financial year net €2,766 ▼92.6% The net result drops to €2,766, the lowest from 2023 to 2025.
Liquidity more than triples current ratio 5.00 The current ratio rises from 1.39 to 5.00. Short-term debt falls from €149,800 to €51,460.
Registered in the Peppol Directory Reachable for e-invoices through 0208:0804877294
Registered office moved within SchildeNew registered office: Turnhoutsebaan 326-2970 Schilde · Previous registered office: Turnhoutsebaan 260, 2970 Schilde1 point ▸
- Registered-office move, Turnhoutsebaan 326-2970 Schilde
- The deed holds 1 more point.
Annual accounts 2024 filed PDFmicro format · 6 days before the deadline
2024
Highest result from 2023 to 2025 net €37,269 ▲85.2% The operating result of €46,968 and the net result of €37,269 are both a record.
Annual accounts 2023 filed PDFmicro format · 27 days late
2023
IncorporationFounding capital of €5,000, 100 shares · Founder: DENS Cato (comparant) · Appointment: DENS Cato (director) · published on 21-08-20235 points ▸
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Identity
- Enterprise number
- 0804.877.294
- VAT number
- BE 0804.877.294
- Peppol ID
- 0208:0804877294
- Other Peppol ID
- 9925:BE0804877294
- Legal form
- Private limited company
- Status
- Active, normal situation
- Founded
- 17-08-2023
- Financial year
- ends on 31 December
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- Second Monday of June at 17:00deed of 21-08-2023 (in Dutch)
- Website
- www.pippakinderschoenen.be
- Peppol
- Reachable since 19-12-2025Follow this company and you will hear the next morning if it leaves the Peppol register.
- Name
- PIPPA in Dutch
- Entity type
- Legal entity
- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimiteddeed of 21-08-2023 (in Dutch)
- Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
- “Vlaams Gewest”deed of 21-08-2023 (in Dutch)
Activities
NACEBEL 2025VAT activities
47721
Retail sale of footwear main activity
47715
Retail trade
47722
Retail trade
85599
Other education
Social security (RSZ) activities
47721
Retail sale of footwear main activity
Codes under NACEBEL 2008
47721
Retail trade main activity
- PurposeThe purpose describes the activities the company may carry out under its articles.
- “Klein- en groothandel (waaronder begrepen het exploiteren van winkels) in,im- en export van alle soorten…”deed of 21-08-2023 (in Dutch)
13 activities
- Klein- en groothandel (waaronder begrepen het exploiteren van winkels) in,im- en export van alle soorten schoenen,laarzen,reisartikelen,lederwaren en aanverwanten;
- Vervaardiging en reparatie van alle soorten schoenen,laarzen,reisartikelen en dergelijke van leer of van elk ander soort materiaal;
- Klein- en groothandel (waaronder begrepen het exploiteren van winkels) in alle soorten kleding,lingerie,onderkleding,kousen en baby- en kinderkleding;
- Klein- en groothandel (waaronder begrepen het exploiteren van winkels) in alle soorten modeartikelen en accessoires en huishoudelijke artikelen;
- Klein- en groothandel (waaronder begrepen het exploiteren van winkels) in alle soorten fournituren/kleine textielwaren,gebruiksartikelen en benodigdheden voor het vervaardigen van alle soorten textielwaren,schoenen,laarzen en reisartikelen;
- Opslag van alle soorten goederen in distributiecentra of andere soorten opslag
- Het verlenen van alle diensten op het vlak van adviesverstrekking,expertise,enzovoort,van om het even welke aard die rechtstreeks of onrechtstreeks op het voorgaande betrekking hebben;
- Het verlenen van adviezen van financiële,technische,commerciële of administratieve aard,in de ruimste zin bijstand en diensten verlenen,rechtstreeks of onrechtstreeks op het vlak van administratie en financiën,verkoop,productie en algemeen bestuur.
- Alsook vastgoedhandelaar,en de opbouw en het beheer van eigen patrimonium,evenals het beheer van een onroerend of roerend vermogen en de huur-financiering van roerende en onroerende goederen aan derden,het aankopen,verkopen,ruilen,bouwen- en verbouwen,onderhouden,verhuren,huren en uitbaten van onroerende goederen.
- De vennootschap kan participeren in,of een fusie aangaan met andere vennootschappen of ondernemingen,die zij het rechtstreeks of onrechtstreeks bijdragen tot het bereiken van het doel van de vennootschap.
- De vennootschap mag het mandaat van bestuurder,zaakvoerder en vereffenaar waarnemen in vennootschappen waarin zij een belang of deelneming heeft.
- De vennootschap kan tenslotte voorschotten toestaan,krediet verlenen en hypothecaire en andere zekerheden verstrekken,zelfs ten gunste van natuurlijke personen en ten aanzien van vennootschappen waarin zij geen belang of deelneming heeft,één en ander evenwel slechts in zoverre daartoe geen erkenning,vergunning en/of machtiging van overheidswege vereist is.
- De vennootschap kan alle verrichtingen uitvoeren die nodig of nuttig zijn voor de verwezenlijking van zijn voorwerp.
Registered office and establishments
1 establishment| Establishment | Since | Unit number |
|---|---|---|
| Cato Dens registered office Turnhoutsebaan 326, 2970 Schilde | 17-08-2023 | 2.348.328.329 |
Buildings and parcels at the address
- Ground area
- 620 m²
- Buildings
- 299 m²
- Volume, LiDAR
- 1,989 m³
- Tallest building
- 14.2 m
Buildings to scale, each on its own parcel
Parcels
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 11922B0550/00L003 | 620 m² | 1 · 299 m² | 14.2 m · 2 |
Contact
E-mail
catodens@hotmail.com
Phone
+32 477 03 23 60