Summary
PIRCALCO is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €1.9m and a net result of €36,477. Equity is growing by ~10.2% per year across the filed fiscal years. Its solvency ranks better than 65% of 2473 sector peers (fiscal year 2025). The company has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 14-08-2026, 14 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
14 d late
2024
36 d early
2023
86 d late
2022
31 d late
2021
24 d early
2020
2 d early
2019
42 d late
← 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 16 days after the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% 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 14 August (4 of the last 5 filed years within 50 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
Equity
€1.9m▲ 1.9%
2024 · €1.9m
Net result
€36,477▼ 42.6%
2024 · €63,512
Total assets
€2.5m▲ 13.7%
2024 · €2.2m
Solvency
76.9%▼ 8.8pp
2024 · 85.8%
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 64, Financial service activities, except insurance and pension funding, 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€151,738▲ 182%€127,333▼ 16.1%€69,535▼ 45.4%€109,551▲ 57.5%€74,714▼ 31.8%
Net result€100,469within the sector's middle half▲ 1,513%€69,518within the sector's middle half▼ 30.8%€41,054within the sector's middle half▼ 40.9%€63,512within the sector's middle half▲ 54.7%€36,477within the sector's middle half▼ 42.6%
Equity€1.1mwithin the sector's middle half▲ 9.8%€1.8mwithin the sector's middle half▲ 59.4%€1.8mwithin the sector's middle half▲ 1.1%€1.9mwithin the sector's middle half▲ 3.5%€1.9mwithin the sector's middle half▲ 1.9%
Total assets€1.6mwithin the sector's middle half▲ 4.2%€2.5mwithin the sector's middle half▲ 56.2%€2.4mwithin the sector's middle half▼ 5.3%€2.2mwithin the sector's middle half▼ 8.7%€2.5mbelow the sector's middle half▲ 13.7%
Debt€494,818▼ 6.6%€702,647▲ 42.0%€562,548▼ 19.9%€290,279▼ 48.4%€552,321▲ 90.3%
Working capital-€227,152below the sector's middle half▲ 30.9%-€39,364within the sector's middle half▲ 82.7%-€46,005within the sector's middle half▼ 16.9%€5,968within the sector's middle half-€14,692within the sector's middle half
Solvency69.4%within the sector's middle half▲ 3.6pp70.9%within the sector's middle half▲ 1.4pp75.6%within the sector's middle half▲ 4.8pp85.8%above the sector's middle half▲ 10.1pp76.9%within the sector's middle half▼ 8.8pp
Current ratio0.44within the sector's middle half▲ 0.250.93within the sector's middle half▲ 0.490.90within the sector's middle half▼ 0.031.03within the sector's middle half▲ 0.120.93within the sector's middle half▼ 0.10
Return on assets (ROA)6.2%within the sector's middle half▲ 5.8pp2.7%within the sector's middle half▼ 3.5pp1.7%within the sector's middle half▼ 1.0pp2.9%within the sector's middle half▲ 1.2pp1.5%within the sector's middle half▼ 1.4pp
Staff (FTE)0within the sector's middle half0within the sector's middle half0below the sector's middle half
above
within
below
the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 32% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.5m
Fixed assets
€2.3m ▲ 16.9%
Current assets
€198,329 ▼ 14.1%
Equity and liabilities €2.5m
Equity
€1.9m ▲ 1.9%
Provisions
€20,969 =
Debt
€552,321 ▲ 90.3%
Debt's share of the balance-sheet total rises from 13.3% to 22.2%. Equity and debt are higher.
Key figures and ratios
ROE
1.9%▼
2024 · 3.4%
Debt ≤ 1 year
€213,021▼
2024 · €224,820
Debt > 1 year
€331,145▲
2024 · €40,446
Income taxes
€18,548▼
2024 · €31,191
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €26,936 | €0 | €1,120 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €35,369 | €57,114 | €59,496 | €60,775 | €116,558 | ▲ 91.8% |
| Other operating charges640/8 | €5,299 | €16,663 | €21,246 | €28,269 | €18,303 | ▼ 35.3% |
| Gross operating margin9900 | €192,405 | €201,111 | €150,278 | €198,595 | €209,574 | ▲ 5.5% |
| Operating profit (loss)9901 | €151,738 | €127,333 | €69,535 | €109,551 | €74,714 | ▼ 31.8% |
| Financial income75/76B | - | €1,815 | €30 | €90 | €16 | ▼ 82.4% |
| Recurring financial income75 | - | €1,815 | €30 | €90 | €16 | ▼ 82.4% |
| Financial charges65/66B | €15,719 | €16,531 | €18,216 | €14,938 | €19,705 | ▲ 31.9% |
| Recurring financial charges65 | €15,719 | €16,531 | €18,216 | €14,938 | €19,705 | ▲ 31.9% |
| Profit (loss) for the period before taxes9903 | €136,019 | €112,618 | €51,350 | €94,703 | €55,025 | ▼ 41.9% |
| Transfer from deferred taxes780 | - | €43,893 | €13,253 | €0 | - | - |
| Income taxes67/77 | €35,550 | €86,993 | €23,549 | €31,191 | €18,548 | ▼ 40.5% |
| Profit (loss) for the period9904 | €100,469 | €69,518 | €41,054 | €63,512 | €36,477 | ▼ 42.6% |
| Transfer from tax-exempt reserves789 | - | €69,632 | €39,760 | €0 | - | - |
| Profit (loss) for the period to be appropriated9905 | €100,469 | €139,150 | €80,814 | €63,512 | €36,477 | ▼ 42.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.6m | €2.5m | €2.4m | €2.2m | €2.5m | ▲ 13.7% |
| Fixed assets21/28 | €1.4m | €2.0m | €2.0m | €2.0m | €2.3m | ▲ 16.9% |
| Tangible fixed assets22/27 | €1.4m | €2.0m | €2.0m | €2.0m | €2.3m | ▲ 16.9% |
| Land and buildings22 | €1.4m | €2.0m | €2.0m | €2.0m | €2.3m | ▲ 16.8% |
| Plant, machinery and equipment23 | - | - | - | - | €2,077 | - |
| Current assets29/58 | €178,677 | €510,958 | €424,520 | €230,788 | €198,329 | ▼ 14.1% |
| Amounts receivable within one year40/41 | €170,489 | €188,581 | €124,816 | €97,018 | €18,556 | ▼ 80.9% |
| Trade receivables40 | €126,065 | €110,390 | €34,369 | €87,018 | €17,102 | ▼ 80.3% |
| Other amounts receivable41 | €44,424 | €78,191 | €90,447 | €10,000 | €1,454 | ▼ 85.5% |
| Cash at bank and in hand54/58 | €8,188 | €319,800 | €296,713 | €129,916 | €175,829 | ▲ 35.3% |
| Deferred charges and accrued income490/1 | - | €2,577 | €2,991 | €3,853 | €3,945 | ▲ 2.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.6m | €2.5m | €2.4m | €2.2m | €2.5m | ▲ 13.7% |
| Equity10/15 | €1.1m | €1.8m | €1.8m | €1.9m | €1.9m | ▲ 1.9% |
| Contributions10/11 | €695,000 | €1.1m | €1.1m | €1.1m | €1.1m | = |
| Capital10 | €695,000 | €1.1m | €1.1m | €1.1m | €1.1m | = |
| Issued capital100 | €695,000 | €1.1m | €1.1m | €1.1m | €1.1m | = |
| Revaluation surpluses12 | - | €28,508 | €28,508 | €28,508 | €28,508 | = |
| Reserves13 | €429,446 | €686,113 | €706,167 | €769,679 | €806,156 | ▲ 4.7% |
| Non-distributable reserves130/1 | €21,472 | €21,472 | €25,790 | €28,966 | €30,790 | ▲ 6.3% |
| Legal reserve130 | €21,472 | €21,472 | €25,790 | €28,966 | €30,790 | ▲ 6.3% |
| Tax-exempt reserves132 | - | €79,500 | €39,741 | €39,741 | €39,741 | = |
| Distributable reserves133 | €407,974 | €585,140 | €640,636 | €700,972 | €735,625 | ▲ 4.9% |
| Profit (loss) carried forward14 | - | - | €0 | €0 | - | - |
| Provisions and deferred taxes16 | - | €34,223 | €20,969 | €20,969 | €20,969 | = |
| Deferred taxes168 | - | €34,223 | €20,969 | €20,969 | €20,969 | = |
| Amounts payable17/49 | €494,818 | €702,647 | €562,548 | €290,279 | €552,321 | ▲ 90.3% |
| Amounts payable after more than one year17 | €74,966 | €139,807 | €78,739 | €40,446 | €331,145 | ▲ 719% |
| Financial debts170/4 | €74,966 | €139,807 | €78,739 | €40,446 | €331,145 | ▲ 719% |
| Amounts payable within one year42/48 | €405,829 | €550,322 | €470,525 | €224,820 | €213,021 | ▼ 5.2% |
| Current portion of amounts payable after more than one year42 | €33,336 | €58,438 | €58,770 | €36,393 | €62,096 | ▲ 70.6% |
| Financial debts43 | - | €4,912 | €0 | - | - | - |
| Other loans439 | - | €4,912 | €0 | - | - | - |
| Trade debts44 | €5,317 | €83,175 | €78,928 | €18,211 | €3,076 | ▼ 83.1% |
| Suppliers440/4 | €5,317 | €83,175 | €78,928 | €18,211 | €3,076 | ▼ 83.1% |
| Taxes, remuneration and social security45 | €40,206 | €101,300 | €66,058 | €21,120 | €20,934 | ▼ 0.9% |
| Taxes450/3 | €40,206 | €101,300 | €66,058 | €21,120 | €20,934 | ▼ 0.9% |
| Other amounts payable47/48 | €326,970 | €302,497 | €266,769 | €149,096 | €126,915 | ▼ 14.9% |
| Accrued charges and deferred income492/3 | €14,023 | €12,518 | €13,283 | €25,013 | €8,154 | ▼ 67.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €100,469 | €69,518 | €41,054 | €63,512 | €36,477 | ▼ 42.6% |
| + Depreciation and write-downs630 | €35,369 | €57,114 | €59,496 | €60,775 | €116,558 | ▲ 91.8% |
| Operating cash flow (approximation) | €135,838 | €126,632 | €100,551 | €124,287 | €153,035 | ▲ 23.1% |
| Investment in fixed assets (approximation) | - | -€634,467 | -€12,637 | -€45,750 | -€447,536 | ▼ 878% |
| Change in cash | - | €311,612 | -€23,087 | -€166,797 | €45,912 | ▲ 128% |
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
14-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 14 days late
07-05
State Gazette act
Capital & sharesShareholding2 facts ▸
State Gazette act
Capital & shares
Shareholding2 facts ▸
- Shareholding, artikel 2:8 § 4 WVV, vennootschapsdossier
- Other statement, front caption of last page of section B, name and capacity of instrumenting notary or persons authorised to represent legal person vis-à-vis third parties
2025
25-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
25-10
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 86 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 31 days late
2022
07-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Highest result since 2018net €100,469 ▲1,513%
Operating result €151,738, net result €100,469, both a record.
29-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Weakest financial yearnet €6,227 ▼78.6%
Net result drops to €6,227, the lowest in the series; recovery starts the following year.
11-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 42 days late
2019
31-12
Financial
Equity above €1mEq €1.0m ▲2.9%
2 profitable years in a row build equity to €1.0m.
31-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
23-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
28-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 5 acts read
About the unread acts
Of the 5 Belgian State Gazette acts we know for this company, 1 has been read. The other 4 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
No directors read yet: 1 of 5 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Sint-Niklaas · 1 establishment unit since 2009
Ground area
4,529 m²
Building footprint
2,702 m²
Volume, LiDAR
16,641 m³
Parcel 46442C0680/00E000, Flanders · tallest building 16.6 m, ±2 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
PIRCALCO
since 20092.183.053.789
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46442C0680/00E000 | Flanders | 4,529 m² | 1 · 2,702 m² | 16.6 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.
Structure & network
Connections & network
No current directors or connected companies found in the register.
Capital and shareholders
Shareholders according to the acts
Stated in the act
act of 07-05-2026 ↗
- enig aandeelhouder all shares
The Belgian State Gazette names shareholders only when an act mentions them; the share register itself is not published.
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Of 24,721 companies in this sector we hold annual accounts for 19,804. 11,052 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
Identification
Legal formPublic limited company
Founded06-10-2009
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
E-invoicing
Reachable via Peppol
Peppol ID
0208:0819291494
Also
9925:BE0819291494
Registered
02-04-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.