PIRAAT
ActiveSummary
PIRAAT has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €163,252 and a net result of €98,854. Equity is growing by ~18.6% per year across the filed fiscal years. Its solvency ranks better than 31% of 28374 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.3% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability91▲+17
Solvency55▲+2
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
1.3%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €10,000 at 30 days acceptable
Liquidity ample (current ratio 1.52 against 1.58 in 2024; short-term debt: 31% and cash: 16% of total assets), but 70% 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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% 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
30%
Return on assets
18.1%
Age of the figures
15 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 28-01-2026, 3 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
3 d early
2024
3 d early
2023
7 d early
2022
4 d early
2021
4 d early
2020
2 d early
2019
32 d early
← 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 8 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today. Usually files around 27 January (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-06-2026 close30-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€163,252▲ 13.1%
2024 · €144,398
Total assets
€544,719▲ 6.2%
2024 · €512,777
Net result
€98,854▲ 401%
2024 · €19,715
Working capital
€87,295▲ 23.9%
2024 · €70,440
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€69,755€67,873▼ 2.7%€53,430▼ 21.3%€37,300▼ 30.2%€112,974▲ 203%
Net result€61,432above the sector's middle half€45,158above the sector's middle half▼ 26.5%€34,510above the sector's middle half▼ 23.6%€19,715within the sector's middle half▼ 42.9%€98,854above the sector's middle half▲ 401%
Equity€70,015within the sector's middle half▲ 145%€105,172within the sector's middle half▲ 50.2%€124,683within the sector's middle half▲ 18.6%€144,398above the sector's middle half▲ 15.8%€163,252above the sector's middle half▲ 13.1%
Total assets€569,085above the sector's middle half▲ 129%€598,468above the sector's middle half▲ 5.2%€622,068above the sector's middle half▲ 3.9%€512,777above the sector's middle half▼ 17.6%€544,719above the sector's middle half▲ 6.2%
Debt€499,070▲ 127%€493,296▼ 1.2%€497,385▲ 0.8%€368,380▼ 25.9%€381,467▲ 3.6%
Working capital€38,310within the sector's middle half▼ 40.0%€38,311within the sector's middle half=€50,070within the sector's middle half▲ 30.7%€70,440within the sector's middle half▲ 40.7%€87,295within the sector's middle half▲ 23.9%
Solvency12.3%below the sector's middle half▲ 0.8pp17.6%below the sector's middle half▲ 5.3pp20.0%below the sector's middle half▲ 2.5pp28.2%within the sector's middle half▲ 8.1pp30.0%within the sector's middle half▲ 1.8pp
Current ratio1.20within the sector's middle half▼ 0.531.19within the sector's middle half▼ 0.011.22within the sector's middle half▲ 0.031.58within the sector's middle half▲ 0.351.52within the sector's middle half▼ 0.06
Return on assets (ROA)10.8%within the sector's middle half▲ 19.0pp7.5%within the sector's middle half▼ 3.2pp5.5%within the sector's middle half▼ 2.0pp3.8%within the sector's middle half▼ 1.7pp18.1%above the sector's middle half▲ 14.3pp
Staff (FTE)1.9▼ 24.0%2.1▲ 10.5%
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, 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 recovers in 2025; 2025 is 203% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €544,719
Fixed assets
€288,664 ▼ 10.0%
Current assets
€256,055 ▲ 33.3%
Equity and liabilities €544,719
Equity
€163,252 ▲ 13.1%
Debt
€381,467 ▲ 3.6%
Debt's share of the balance-sheet total falls from 71.8% to 70.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€138,988▲
2024 · €65,634
Cash flow
€124,868▲
2024 · €48,049
Quick ratio
1.47▼
2024 · 1.50
Debt to equity
2.34▼
2024 · 2.55
ROE
60.6%▲
2024 · 13.7%
Interest coverage
19.38▲
2024 · 6.36
Debt ≤ 1 year
€168,760▲
2024 · €121,661
Debt > 1 year
€198,997▼
2024 · €232,771
Income taxes
€7,028▼
2024 · €7,827
Staff costs
€137,001▲
2024 · €113,510
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,684 companies that looked in July 2024 the way this one looks now, 1.3% went bankrupt within 24 months and 97% are still going.
- Small
- 5 to 10 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
1.3%
went bankrupt
1.2%
stopped otherwise
97%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.3% 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 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 2,684 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €84,690 | €92,901 | €113,510 | €137,001 | ▲ 20.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €19,731 | €33,831 | €34,645 | €28,334 | €26,014 | ▼ 8.2% |
| Other operating charges640/8 | - | €2,857 | €3,281 | €6,152 | €8,096 | ▲ 31.6% |
| Gross operating margin9900 | €147,864 | €189,251 | €184,256 | €185,296 | €284,086 | ▲ 53.3% |
| Operating profit (loss)9901 | €69,755 | €67,873 | €53,430 | €37,300 | €112,974 | ▲ 203% |
| Financial income75/76B | - | €72 | €362 | €554 | €79 | ▼ 85.8% |
| Recurring financial income75 | €182 | €72 | €362 | €554 | €79 | ▼ 85.8% |
| Financial charges65/66B | - | €10,791 | €10,593 | €10,312 | €7,171 | ▼ 30.5% |
| Recurring financial charges65 | €4,971 | €10,791 | €10,593 | €10,312 | €7,171 | ▼ 30.5% |
| Profit (loss) for the period before taxes9903 | €64,967 | €57,154 | €43,199 | €27,542 | €105,882 | ▲ 284% |
| Income taxes67/77 | €3,535 | €11,996 | €8,689 | €7,827 | €7,028 | ▼ 10.2% |
| Profit (loss) for the period9904 | €61,432 | €45,158 | €34,510 | €19,715 | €98,854 | ▲ 401% |
| Profit (loss) for the period to be appropriated9905 | €61,432 | €45,158 | €34,510 | €19,715 | €98,854 | ▲ 401% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €569,085 | €598,468 | €622,068 | €512,777 | €544,719 | ▲ 6.2% |
| Fixed assets21/28 | €339,987 | €362,585 | €349,012 | €320,677 | €288,664 | ▼ 10.0% |
| Tangible fixed assets22/27 | €339,487 | €362,085 | €348,512 | €320,177 | €288,164 | ▼ 10.0% |
| Land and buildings22 | - | €303,051 | €285,321 | €268,041 | €251,164 | ▼ 6.3% |
| Plant, machinery and equipment23 | - | €40,702 | €37,368 | €32,483 | €27,599 | ▼ 15.0% |
| Furniture and vehicles24 | - | €18,333 | €25,823 | €19,654 | €9,401 | ▼ 52.2% |
| Financial fixed assets28 | €500 | €500 | €500 | €500 | €500 | = |
| Current assets29/58 | €229,098 | €235,883 | €273,056 | €192,100 | €256,055 | ▲ 33.3% |
| Stocks and contracts in progress3 | €15,000 | €9,881 | €14,881 | €10,180 | €8,000 | ▼ 21.4% |
| Stocks30/36 | - | €9,881 | €14,881 | €10,180 | €8,000 | ▼ 21.4% |
| Amounts receivable within one year40/41 | €126,200 | €60,929 | €85,872 | €64,288 | €125,648 | ▲ 95.4% |
| Trade receivables40 | - | €45,646 | €79,994 | €49,552 | €108,795 | ▲ 120% |
| Other amounts receivable41 | - | €15,282 | €5,878 | €14,736 | €16,853 | ▲ 14.4% |
| Cash at bank and in hand54/58 | €86,996 | €161,802 | €168,453 | €103,007 | €87,290 | ▼ 15.3% |
| Deferred charges and accrued income490/1 | - | €3,271 | €3,850 | €14,626 | €35,117 | ▲ 140% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €569,085 | €598,468 | €622,068 | €512,777 | €544,719 | ▲ 6.2% |
| Equity10/15 | €70,015 | €105,172 | €124,683 | €144,398 | €163,252 | ▲ 13.1% |
| Contributions10/11 | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €1,885 | €1,885 | €1,885 | €1,885 | €1,885 | = |
| Non-distributable reserves130/1 | - | €1,885 | €1,885 | - | - | - |
| Reserves not available under the articles1311 | - | €1,885 | €1,885 | - | - | - |
| Distributable reserves133 | - | - | - | €1,885 | €1,885 | = |
| Profit (loss) carried forward14 | €61,930 | €97,087 | €116,598 | €136,313 | €155,167 | ▲ 13.8% |
| Amounts payable17/49 | €499,070 | €493,296 | €497,385 | €368,380 | €381,467 | ▲ 3.6% |
| Amounts payable after more than one year17 | €308,283 | €294,284 | €266,669 | €232,771 | €198,997 | ▼ 14.5% |
| Financial debts170/4 | - | €294,284 | €266,669 | €232,771 | €198,997 | ▼ 14.5% |
| Amounts payable within one year42/48 | €190,788 | €197,572 | €222,986 | €121,661 | €168,760 | ▲ 38.7% |
| Current portion of amounts payable after more than one year42 | - | €35,802 | €40,219 | €34,848 | €33,774 | ▼ 3.1% |
| Trade debts44 | €32,410 | €49,228 | €46,138 | €33,789 | €21,978 | ▼ 35.0% |
| Suppliers440/4 | - | €49,228 | €46,138 | €33,789 | €21,978 | ▼ 35.0% |
| Advances received on contracts in progress46 | - | - | €23,743 | - | - | - |
| Taxes, remuneration and social security45 | - | €24,283 | €18,759 | €11,835 | €4,815 | ▼ 59.3% |
| Taxes450/3 | - | €13,525 | €10,218 | €8,367 | €178 | ▼ 97.9% |
| Remuneration and social security454/9 | - | €10,758 | €8,542 | €3,468 | €4,637 | ▲ 33.7% |
| Other amounts payable47/48 | - | €88,259 | €94,127 | €41,189 | €108,193 | ▲ 163% |
| Accrued charges and deferred income492/3 | - | €1,440 | €7,730 | €13,948 | €13,710 | ▼ 1.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €61,432 | €45,158 | €34,510 | €19,715 | €98,854 | ▲ 401% |
| + Depreciation and write-downs630 | €19,731 | €33,831 | €34,645 | €28,334 | €26,014 | ▼ 8.2% |
| Operating cash flow (approximation) | €81,164 | €78,989 | €69,155 | €48,049 | €124,868 | ▲ 160% |
| Investment in fixed assets (approximation) | - | -€56,429 | -€21,071 | €0 | €6,000 | - |
| Change in cash | - | €74,806 | €6,652 | -€65,446 | -€15,718 | ▲ 76.0% |
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
28-01
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-06
Financial
Highest result since 2019net €98,854 ▲401%
Operating result €112,974, net result €98,854, both a record.
30-06
Financial
Equity above €150,000Eq €163,252 ▲13.1%
5 profitable years in a row build equity to €163,252.
28-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
24-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
27-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-06
Financial
Equity above €100,000Eq €105,172 ▲50.2%
2 profitable years in a row build equity to €105,172.
27-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-06
Financial
Back to profitnet €61,432
Net result €61,432 after one loss-making year.
29-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-06
Financial
Weakest financial yearnet -€20,368
Net result drops to -€20,368, the lowest in the series; recovery starts the following year.
2019
30-12
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
18-12
NBB filing
Annual accounts filed
fiscal year 2018 · 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, Sint-Niklaas · 2 establishment units since 2017
Ground area
3,975 m²
Building footprint
1,581 m²
Volume, LiDAR
973 m³
3 parcels, Flanders · tallest building 10.7 m, ±3 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
2 establishment units
Piraat BVBA
since 20172.263.261.606
Pastoor De Meerleerstraat 24J, 9100 Sint-Niklaas
since 20232.345.615.002
3 parcels
Flanders
3
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46444D2441/00A000 | Flanders | 2,466 m² | 1 · 1,410 m² | - |
| 46002C0132/00C000 | Flanders | 1,227 m² | 1 · 131 m² | 7.3 m · 2 fl. |
| 46443E1199/00G000 | Flanders | 281 m² | 1 · 40 m² | 10.7 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
3 of 3 parcels 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
2022 to 2023 · 2 entries · 1,056 EUR awarded · 1,056 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 606 EUR | 606 EUR |
| 2022 | 1 | 450 EUR | 450 EUR |
Similar companies · same sector, comparable size
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CONSTRUCTIE DERIJCKE
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Danny Nouwen
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Of 20,025 companies in sector 43320 we hold annual accounts for 9,140. 7,575 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
Founded22-02-2017
Fiscal year end30-06
Activities, NACEBEL 2025
43320Joinery installation
E-invoicing
Reachable via Peppol
Peppol ID
0208:0671729552
Also
9925:BE0671729552
Registered
30-01-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.