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 €163k and a net result of €99k. Equity is growing by ~18.6% per year across the filed fiscal years. Its solvency ranks better than 31% of 27965 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 €10k 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
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 →
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.
Companies Code · seven monthsPosition in the running window
30-06-2026 close25-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€163k▲ 13.1%
2024 · €144k
2019: €49k
2020: €29k▼ -41.6% vs 2019lowest in 7 years
2021: €70k▲ +145% vs 2020
2022: €105k▲ +50.2% vs 2021
2023: €125k▲ +18.6% vs 2022
2024: €144k▲ +15.8% vs 2023
2025: €163k▲ +13.1% vs 2024highest in 7 years
2019 → 2025
Total assets
€545k▲ 6.2%
2024 · €513k
2019: €287k
2020: €249k▼ -13.2% vs 2019lowest in 7 years
2021: €569k▲ +129% vs 2020
2022: €598k▲ +5.2% vs 2021
2023: €622k▲ +3.9% vs 2022highest in 7 years
2024: €513k▼ -17.6% vs 2023
2025: €545k▲ +6.2% vs 2024
2019 → 2025
Net result
€99k▲ 401%
2024 · €20k
2019: €27k
2020: €-20k▼ -176% vs 2019lowest in 7 years
2021: €61k▲ +402% vs 2020
2022: €45k▼ -26.5% vs 2021
2023: €35k▼ -23.6% vs 2022
2024: €20k▼ -42.9% vs 2023
2025: €99k▲ +401% vs 2024highest in 7 years
2019 → 2025
Working capital
€87k▲ 23.9%
2024 · €70k
2019: €46k
2020: €64k▲ +37.2% vs 2019
2021: €38k▼ -40.0% vs 2020lowest in 7 years
2022: €38k● +0.0% vs 2021
2023: €50k▲ +30.7% vs 2022
2024: €70k▲ +40.7% vs 2023
2025: €87k▲ +23.9% vs 2024highest in 7 years
2019 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€70k-€105k▲ 50.2%€125k▲ 18.6%€144k▲ 15.8%€163k▲ 13.1%
2021: €70klowest in 5 years
2022: €105k▲ +50.2% vs 2021
2023: €125k▲ +18.6% vs 2022
2024: €144k▲ +15.8% vs 2023
2025: €163k▲ +13.1% vs 2024highest in 5 years
Operating result€70k-€68k▼ 2.7%€53k▼ 21.3%€37k▼ 30.2%€113k▲ 203%
2021: €70k
2022: €68k▼ -2.7% vs 2021
2023: €53k▼ -21.3% vs 2022
2024: €37k▼ -30.2% vs 2023lowest in 5 years
2025: €113k▲ +203% vs 2024highest in 5 years
Net result€61k-€45k▼ 26.5%€35k▼ 23.6%€20k▼ 42.9%€99k▲ 401%
2021: €61k
2022: €45k▼ -26.5% vs 2021
2023: €35k▼ -23.6% vs 2022
2024: €20k▼ -42.9% vs 2023lowest in 5 years
2025: €99k▲ +401% vs 2024highest in 5 years
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 €545k
Fixed assets
€289k ▼ 10.0%
Current assets
€256k ▲ 33.3%
Equity and liabilities €545k
Equity
€163k ▲ 13.1%
Debt
€381k ▲ 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
€139k▲
2024 · €66k
Cash flow
€125k▲
2024 · €48k
Current ratio
1.52▼
2024 · 1.58
Quick ratio
1.47▼
2024 · 1.50
Debt to equity
2.34▼
2024 · 2.55
ROE
60.6%▲
2024 · 13.7%
ROA
18.1%▲
2024 · 3.8%
Interest coverage
19.38▲
2024 · 6.36
Debt ≤ 1 year
€169k▲
2024 · €122k
Debt > 1 year
€199k▼
2024 · €233k
Income taxes
€7k▼
2024 · €8k
Staff costs
€137k▲
2024 · €114k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 50 lines
Balance sheet
Code20242025
Assets
Total assets20/58€513k€545k▲
Fixed assets21/28€321k€289k▼
Tangible fixed assets22/27€320k€288k▼
Land and buildings22€268k€251k▼
Plant, machinery and equipment23€32k€28k▼
Furniture and vehicles24€20k€9k▼
Financial fixed assets28€500€500=
Current assets29/58€192k€256k▲
Stocks and contracts in progress3€10k€8k▼
Stocks30/36€10k€8k▼
Amounts receivable within one year40/41€64k€126k▲
Trade receivables40€50k€109k▲
Other amounts receivable41€15k€17k▲
Cash at bank and in hand54/58€103k€87k▼
Deferred charges and accrued income490/1€15k€35k▲
Equity and liabilities
Total equity and liabilities10/49€513k€545k▲
Equity10/15€144k€163k▲
Contributions10/11€6k€6k=
Reserves13€2k€2k=
Distributable reserves133€2k€2k=
Profit (loss) carried forward14€136k€155k▲
Amounts payable17/49€368k€381k▲
Amounts payable after more than one year17€233k€199k▼
Financial debts170/4€233k€199k▼
Amounts payable within one year42/48€122k€169k▲
Current portion of amounts payable after more than one year42€35k€34k▼
Trade debts44€34k€22k▼
Suppliers440/4€34k€22k▼
Taxes, remuneration and social security45€12k€5k▼
Taxes450/3€8k€178▼
Remuneration and social security454/9€3k€5k▲
Other amounts payable47/48€41k€108k▲
Accrued charges and deferred income492/3€14k€14k▼
Income statement
Code20242025
Remuneration, social security and pensions62€114k€137k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€28k€26k▼
Other operating charges640/8€6k€8k▲
Gross operating margin9900€185k€284k▲
Operating profit (loss)9901€37k€113k▲
Financial income75/76B€554€79▼
Recurring financial income75€554€79▼
Financial charges65/66B€10k€7k▼
Recurring financial charges65€10k€7k▼
Profit (loss) for the period before taxes9903€28k€106k▲
Income taxes67/77€8k€7k▼
Profit (loss) for the period9904€20k€99k▲
Profit (loss) for the period to be appropriated9905€20k€99k▲
Appropriation of the result
Profit (loss) to be appropriated9906€136k€235k▲
Profit (loss) brought forward from the previous period14P€117k€136k▲
Profit to be distributed694/7-€80k
Directors or managers695-€80k
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €85k | €93k | €114k | €137k | ▲ 20.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €20k | €34k | €35k | €28k | €26k | ▼ 8.2% |
| Other operating charges640/8 | - | €3k | €3k | €6k | €8k | ▲ 31.6% |
| Gross operating margin9900 | €148k | €189k | €184k | €185k | €284k | ▲ 53.3% |
| Operating profit (loss)9901 | €70k | €68k | €53k | €37k | €113k | ▲ 203% |
| Financial income75/76B | - | €72 | €362 | €554 | €79 | ▼ 85.8% |
| Recurring financial income75 | €182 | €72 | €362 | €554 | €79 | ▼ 85.8% |
| Financial charges65/66B | - | €11k | €11k | €10k | €7k | ▼ 30.5% |
| Recurring financial charges65 | €5k | €11k | €11k | €10k | €7k | ▼ 30.5% |
| Profit (loss) for the period before taxes9903 | €65k | €57k | €43k | €28k | €106k | ▲ 284% |
| Income taxes67/77 | €4k | €12k | €9k | €8k | €7k | ▼ 10.2% |
| Profit (loss) for the period9904 | €61k | €45k | €35k | €20k | €99k | ▲ 401% |
| Profit (loss) for the period to be appropriated9905 | €61k | €45k | €35k | €20k | €99k | ▲ 401% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €569k | €598k | €622k | €513k | €545k | ▲ 6.2% |
| Fixed assets21/28 | €340k | €363k | €349k | €321k | €289k | ▼ 10.0% |
| Tangible fixed assets22/27 | €339k | €362k | €349k | €320k | €288k | ▼ 10.0% |
| Land and buildings22 | - | €303k | €285k | €268k | €251k | ▼ 6.3% |
| Plant, machinery and equipment23 | - | €41k | €37k | €32k | €28k | ▼ 15.0% |
| Furniture and vehicles24 | - | €18k | €26k | €20k | €9k | ▼ 52.2% |
| Financial fixed assets28 | €500 | €500 | €500 | €500 | €500 | = |
| Current assets29/58 | €229k | €236k | €273k | €192k | €256k | ▲ 33.3% |
| Stocks and contracts in progress3 | €15k | €10k | €15k | €10k | €8k | ▼ 21.4% |
| Stocks30/36 | - | €10k | €15k | €10k | €8k | ▼ 21.4% |
| Amounts receivable within one year40/41 | €126k | €61k | €86k | €64k | €126k | ▲ 95.4% |
| Trade receivables40 | - | €46k | €80k | €50k | €109k | ▲ 120% |
| Other amounts receivable41 | - | €15k | €6k | €15k | €17k | ▲ 14.4% |
| Cash at bank and in hand54/58 | €87k | €162k | €168k | €103k | €87k | ▼ 15.3% |
| Deferred charges and accrued income490/1 | - | €3k | €4k | €15k | €35k | ▲ 140% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €569k | €598k | €622k | €513k | €545k | ▲ 6.2% |
| Equity10/15 | €70k | €105k | €125k | €144k | €163k | ▲ 13.1% |
| Contributions10/11 | - | €6k | €6k | €6k | €6k | = |
| Reserves13 | €2k | €2k | €2k | €2k | €2k | = |
| Non-distributable reserves130/1 | - | €2k | €2k | - | - | - |
| Reserves not available under the articles1311 | - | €2k | €2k | - | - | - |
| Distributable reserves133 | - | - | - | €2k | €2k | = |
| Profit (loss) carried forward14 | €62k | €97k | €117k | €136k | €155k | ▲ 13.8% |
| Amounts payable17/49 | €499k | €493k | €497k | €368k | €381k | ▲ 3.6% |
| Amounts payable after more than one year17 | €308k | €294k | €267k | €233k | €199k | ▼ 14.5% |
| Financial debts170/4 | - | €294k | €267k | €233k | €199k | ▼ 14.5% |
| Amounts payable within one year42/48 | €191k | €198k | €223k | €122k | €169k | ▲ 38.7% |
| Current portion of amounts payable after more than one year42 | - | €36k | €40k | €35k | €34k | ▼ 3.1% |
| Trade debts44 | €32k | €49k | €46k | €34k | €22k | ▼ 35.0% |
| Suppliers440/4 | - | €49k | €46k | €34k | €22k | ▼ 35.0% |
| Advances received on contracts in progress46 | - | - | €24k | - | - | - |
| Taxes, remuneration and social security45 | - | €24k | €19k | €12k | €5k | ▼ 59.3% |
| Taxes450/3 | - | €14k | €10k | €8k | €178 | ▼ 97.9% |
| Remuneration and social security454/9 | - | €11k | €9k | €3k | €5k | ▲ 33.7% |
| Other amounts payable47/48 | - | €88k | €94k | €41k | €108k | ▲ 163% |
| Accrued charges and deferred income492/3 | - | €1k | €8k | €14k | €14k | ▼ 1.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €61k | €45k | €35k | €20k | €99k | ▲ 401% |
| + Depreciation and write-downs630 | €20k | €34k | €35k | €28k | €26k | ▼ 8.2% |
| Operating cash flow (approximation) | €81k | €79k | €69k | €48k | €125k | ▲ 160% |
| Investment in fixed assets (approximation) | - | €-56k | €-21k | €0 | €6k | - |
| Change in cash | - | €75k | €7k | €-65k | €-16k | ▲ 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 €99k ▲401%
Operating result €113k, net result €99k, both a record.
30-06
Financial
Equity above €150kEq €163k ▲13.1%
5 profitable years in a row build equity to €163k.
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 €100kEq €105k ▲50.2%
2 profitable years in a row build equity to €105k.
27-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-06
Financial
Back to profitnet €61k
Net result €61k after one loss-making year.
29-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-06
Financial
Weakest financial yearnet €-20k
Net result drops to €-20k, 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 |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 20,018 companies in sector 43320 we hold annual accounts for 9,132. 7,567 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
Scores and ratios are computed by Checked and are not a credit decision.