Losses
-€21,453 in two years
The 2024 and 2025 financial years closed with a loss. 2025 was the heaviest.
PITCHER
Overview
Lifetime
2 annual accounts with figures on one time axispeak -€4,310 (2024)
-€14,921▼ €10,611
lowest -€16,995 (2025)
-€16,995▼ €12,537
peak €17,542 (2024)
€547▼ 96.9%
€18,341▲ 23×
Board3 names since 2024
3 directorsBERHOLD and 2 others
Documentsfilings and deeds
31-08-202631 days late
2025micro format
Gross margin from -€4,310 to -€14,921Loss of €16,995Equity from €17,542 to €547Debts from €810 to €18,341
Key points
from the 2025 annual accountsDebts
€18,341 97% of the balance sheet
Investments
€1,007 6.1 × depreciation
Green is investment, beige is depreciation.
Liquidity
0.98 was 22.67 in 2024
Short-term debts rose from €810 to €18,341.
Starting capital
€22,000
At the same address
11 companies
2025 accounts filed 31 days after the deadlineTurnover not published (micro format)
Checked score
54
Fair
Financially stronger than 27% of micro companies in beverages (NACE 11)
Probability in this band: 1.5% to 4.2%
A net loss of at least half of total assets or of the equity at the start of the financial year caps the score at 59.
Bankruptcy probability within 12 months
1.0% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.7% across 550 companies (NACE 11, micro).
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
02-2025: 1.0%
03-2025: 1.0%● unchanged vs 02-2025
04-2025: 1.0%● unchanged vs 03-2025
05-2025: 1.1%▲ +0.1 percentage points vs 04-2025
06-2025: 1.1%● unchanged vs 05-2025
07-2025: 1.3%▲ +0.2 percentage points vs 06-2025highest value
08-2025: 0.2%▼ -1.1 percentage points vs 07-2025
09-2025: 0.2%● unchanged vs 08-2025
10-2025: 0.2%● unchanged vs 09-2025
11-2025: 0.2%● unchanged vs 10-2025
12-2025: 0.2%● unchanged vs 11-2025lowest value
01-2026: 0.3%▲ +0.1 percentage points vs 12-2025
02-2026: 0.3%● unchanged vs 01-2026
03-2026: 0.3%● unchanged vs 02-2026
04-2026: 0.3%● unchanged vs 03-2026
05-2026: 0.3%● unchanged vs 04-2026
06-2026: 0.3%● unchanged vs 05-2026
07-2026: 0.4%▲ +0.1 percentage points vs 06-2026
08-2026: 0.7%▲ +0.3 percentage points vs 07-2026
09-2026: 1.0%▲ +0.3 percentage points vs 08-2026
10-2026: 1.0%● unchanged vs 09-2026
11-2026: 1.0%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Capped at 59: a net loss of at least half of total assets or of the equity at the start of the financial year
Last filed accounts filed 31 days late; 1 of the last 3 accounts late
lowers risk
Sector: Manufacture of beverages (NACE 11)
Liquidity: current ratio 0.98, cash €6,127
Size: total assets €18,888
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 11, micro). It does better than 38% of them on solvency, 47% on liquidity, 13% on profitability and 10% on growth.
The bankruptcy probability was computed on 09-11-2026 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, 757 companies had the same profile as PITCHER has now. Each dot stands for 2 companies, two years later.
86.7%
were still trading
4.8%
stopped another way
7.9%
went bankrupt
Another 0.7% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of PITCHER itself is lower: 1.0% within 12 months. It rests on far more data about PITCHER than the profile alone.
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 757 companies, not a prediction for PITCHER. 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
No publishable credit limit, so credit only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity is insufficient, with a current ratio of 0.98 (22.67 in 2024), below 1. Short-term debt is 97.1% and cash 32.4% of total assets. 97.1% 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
Seven signals.
lowers riskraises risk
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
2425
2024 to 2025 · latest year -€16,995
raises risk · Young company
Founded in 2024, 2 years ago. Young companies fail more often than established ones; the risk is highest 2 to 8 years after founding.
KBO · incorporation dateAge against the risk zone
raises risk · 2025 accounts filed 31 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 2 filingsDeviation from the deadline
2025
31 days late
2024
2 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 2 accounts on average 15 days after the deadline. In the sector (NACE 11), the median for financial year 2024 was 2 days before the deadline, and 43% 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.
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- BERHOLD 100 sharesdeed of 15-01-2024
- GEENS Guy 100 sharesdeed of 15-01-2024
- WINKELS David 100 sharesdeed of 15-01-2024
Recent changes
Incorporation
Founding capital of €22,000 · Founders: BERHOLD, GEENS Guy, WINKELS David and 7 others · Appointments: BERHOLD, DOUBLE YOU and GEENS Guy · published on 15-01-2024 · Gazette deed
First establishment
Trekschurenstraat 126, Hasselt
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| PITCHER Hasselt | €18,888 | -€14,921 | 2.9% | - |
| BRASSERIE GRAAL Herve | €15,124 | -€2,478 | 71.1% | - |
| CHEERS & BUDDIES Namur | €20,699 | €1,695 | 95.1% | - |
| Augist Mol | €11,831 | -€5,505 | -30.1% | - |
| REAL-EVENT Mettet | €23,391 | €865 | 88.5% | - |
| D³SL Bassenge | €17,696 | €1,661 | 13.6% | - |
| CAVE A TERTOUS Tournai | €35,516 | €478 | -1.6% | - |
These companies have the same main activity as PITCHER: manufacture of beer (NACE 11050). They are comparable in size and age: total assets between €11,800 and €35,500, founded between 2023 and 2024.
Official details
Source: KBO- Status
- Active since 11-01-2024Normal situation
- Registered office
- 12 active companies are registered at this addressSource: KBO register, as of 10 November 2026.
- Activity
- Manufacture of beerNACE 11050and 1 other
- Establishment unit
- 2.355.050.7263500 Hasselt, since 11-01-2024
- Financial year end
- 31 December
- Peppol
- Reachable
Annual accounts 2025
- -€14,921▼ 246%
- €16,995▲ 281%
- €547▼ 96.9%
- €18,888▲ 2.9%
- Filing
- Filed on 31-08-2026
Insights on PITCHER
The annual accounts of PITCHER for financial year 2025 show a net loss of 90% of total assets and of 97% of the equity at the start of that year. The 2025 annual accounts show equity of €547 and a net result of -€16,995.
Its solvency ranks better than 40% of 380 sector peers (NACE 11, financial year 2025). The company has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals.
The computed 12-month bankruptcy probability is 1.0% (low).
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Financials
Annual accounts 2025
micro format, filed on 31-08-2026, 31 days late-€14,921
▼ €10,611
-€15,800
▼ €11,490
-€16,995
▼ €12,537
-€295
▼ €17,838
2.9%
▼ 92.7 percentage points
0.98
▼ 21.69
Turnover and EBIT margin are not published. The micro format does not require them.
Balance sheet
balance sheet total €18,888 on 31-12-2025What the company ownsHow it is paid for
in euro
in euro
Position in the sector
2.9%
Higher than 40% of 380 companies in 2025.
0.98
Higher than 40% of 365 companies in 2025.
-90.0%
Lower than 95% of 367 companies in 2025.
PITCHER
Middle half of the sector
80% of the sector
Micro accounts in beverages (NACE 11)
Net result: bottom quarter · Equity: middle half · Balance sheet total: bottom quarter · Working capital: middle half
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 |
|---|---|---|---|
| Balance sheet: assets | |||
20/58 |
18,888 | 18,352 | |
21/28 |
843 | - | |
22/27 |
843 | - | |
23 |
843 | - | |
29/58 |
18,046 | 18,352 | |
3 |
4,705 | 1,424 | |
30/36 |
4,705 | 1,424 | |
40/41 |
2,435 | 3,828 | |
40 |
1,906 | 1,625 | |
41 |
529 | 2,203 | |
54/58 |
6,127 | 7,084 | |
490/1 |
4,779 | 6,015 | |
| Balance sheet: equity and liabilities | |||
10/49 |
18,888 | 18,352 | |
10/15 |
547 | 17,542 | |
10/11 |
22,000 | 22,000 | |
14 |
-21,453 | -4,458 | |
17/49 |
18,341 | 810 | |
42/48 |
18,341 | 810 | |
44 |
2,341 | 810 | |
440/4 |
2,341 | 810 | |
47/48 |
16,000 | - | |
| Income statement | |||
9900 |
-14,921 | -4,310 | |
630 |
164 | - | |
640/8 |
714 | - | |
9901 |
-15,800 | -4,310 | |
75/76B |
1 | - | |
75 |
1 | - | |
65/66B |
1,196 | 148 | |
65 |
1,196 | 148 | |
9903 |
-16,995 | -4,458 | |
9904 |
-16,995 | -4,458 | |
9905 |
-16,995 | -4,458 | |
| Appropriation of the result | |||
9906 |
-21,453 | -4,458 | |
14P |
-4,458 | - | |
| Document | |||
The notes to these accounts have 5 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 31-08-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank2025 annual accounts filed 31 days after the deadline. Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00456841.
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 |
|---|---|---|---|
| -15,636 | - | ||
| -16,831 | - | ||
| 1,007 | - | ||
| -957 | - | ||
| -295 | 17,542 | ||
| 2.9% | 95.6% | ||
| 0.98 | 22.67 | ||
| 0.73 | 20.91 | ||
| - | 0.05 | ||
| - | -25.4% | ||
| -90.0% | -24.3% | ||
| -13.08 | - |
The equity ratios are withheld because equity of €547 is too small for a meaningful ratio.
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.
Investments
fixed assets acquired| Item | 2025 | 2024 |
|---|---|---|
| Tangible fixed assets | €1,007 | - |
| €164 | - |
Source: notes to the 2024 to 2025 annual accounts (statement of fixed assets)
Insights on PITCHER
The operating result for 2025 is a loss of €15,800, larger than the loss of €4,310 in 2024.
Debt's share of the balance-sheet total rises from 4.4% to 97.1%. Equity is lower and debt is higher.
Board & ownership
Board
3 directors, since incorporationBERHOLD BV
Director, permanent representative BALIS Bart Albert Nicolaas
since 11-01-2024
term without a fixed end
listed in the 2025 annual accounts, filed on 31-08-2026
DOUBLE YOU BV
Director, permanent representative WINKELS David
since 11-01-2024
term without a fixed end
listed in the 2025 annual accounts, filed on 31-08-2026
Director
since 11-01-2024
term without a fixed end
listed in the 2025 annual accounts, filed on 31-08-2026
Permanent representatives 2
Mandates through the years
3 names, the dashed line is todayBoard
Mandates as a list
- BERHOLD
- Director, from 11-01-2024 to date
- DOUBLE YOU
- Director, from 11-01-2024 to date
- GEENS Guy
- Director, from 11-01-2024 to date
Control
Capital
- Contribution
- €22,000
- Source
- deed of 15-01-2024
Articles of association
deed of 15-01-2024 (in Dutch)- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimited
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- Second Friday of June at 18:00
- 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
Shareholders
At incorporation
deed of 15-01-2024 ↗
- BERHOLD (BE 0668.525.582) 100 shares · €2,000
- GEENS Guy 100 shares · €2,000
- WINKELS David 100 shares · €2,000
- HEENE Holger Stipe Armand 100 shares · €2,000
- GEURTS Rudi Lambert Pierre 100 shares · €2,000
- HOUBEN Guillaume Hubert Jozef 100 shares · €2,000
- VANDERHOVEN Danny Hubertus Jan Peter 100 shares · €2,000
- RAINERI Gianfranco 100 shares · €2,000
- BROUWERS Daniël Leon 100 shares · €2,000
- MARTENS Tom 100 shares · €2,000
- MEULDERMANS Steven Willem Herman 100 shares · €2,000
Network & group
No group
PITCHER has no parent and no holdings in its annual accounts.
At the same address
Trekschurenstraat 126, 3500 Hasselt · 11 other companies| LCA-Accomed
registered office since 08-06-2009 · founded in 2009 · group ENTERHOLD S.A. |
27 FTE (2025) 0812.067.073 |
| Dr. VRANCKX Jan, plastische chirurgie
registered office since 04-09-2008 · founded in 2008 |
total assets €1.6m (2025) 0806.425.435 |
| DR JOYCE PENNINGS
registered office since 20-03-2012 · founded in 2012 |
total assets €1.2m (2025) 0844.702.130 |
| Suite Escape
registered office since 27-01-2017 · founded in 2017 · negative equity (2025) |
total assets €556,813 (2025) 0670.465.978 |
| at Pine and Pike
registered office since 05-07-2021 · founded in 2021 |
total assets €395,711 (2025) 0770.721.517 |
| JALIMA
registered office since 16-12-2003 · founded in 2003 |
total assets €359,192 (2025) 0862.232.208 |
| EUROLINK-S
registered office since 20-02-2004 · founded in 2004 |
total assets €254,739 (2025) 0863.561.108 |
| ARPA
registered office since 12-11-2004 · founded in 2004 · negative equity (2026) |
total assets €121,600 (2026) 0869.951.527 |
| EUROTIS BELGIUM
registered office since 24-02-2023 · founded in 2023 |
1 FTE (2025) 0798.806.678 |
| INCHI PINCHI
registered office since 23-11-2017 |
founded in 2017 0684.955.404 |
Connections & network
2 connected companiesThe connected companies are in the list below.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Linked via shared directors
BROUWLAND
via BERHOLD · Director (not named in the articles) · deed of 09-01-2023
Founded in 1972 · 38 FTE (2025) · negative equity
→
Brewbar Hasselt
via BERHOLD · Director (not named in the articles) · deed of 24-08-2021
No longer active · founded in 2021 · total assets €851 (2025)
→
Timeline
Timeline
4 events since 2024Filings
Establishments
202420252026
Deadline for the 2026 accounts: 31-07-2027
2026
Annual accounts 2025 filed NBBmicro format · 31 days late
2025
Annual accounts 2024 filed PDFmicro format · 2 days before the deadline
2024
IncorporationFounding capital of €22,000 · Founders: BERHOLD, GEENS Guy, WINKELS David and 7 others · Appointments: BERHOLD, DOUBLE YOU and GEENS Guy · published on 15-01-202417 points ▸
- Founder, BERHOLD
- Founder, GEENS Guy
- Founder, WINKELS David
- Founder, HEENE Holger Stipe Armand
- Founder, GEURTS Rudi Lambert Pierre
- Founder, HOUBEN Guillaume Hubert Jozef
- Founder, VANDERHOVEN Danny Hubertus Jan Peter
- Founder, RAINERI Gianfranco
- Founder, BROUWERS Daniël Leon
- Founder, MARTENS Tom
- Founding capital, €22,000
- Director appointment, BERHOLD
- Permanent representative, BALIS Bart Albert Nicolaas
- Director appointment, DOUBLE YOU
- Permanent representative, WINKELS David
- Director appointment, GEENS Guy
- 1,100 shares
- The deed holds 3 more points.
First establishment Trekschurenstraat 126, Hasselt
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Identity
- Enterprise number
- 1004.557.239
- VAT number
- BE 1004.557.239
- Peppol ID
- 0208:1004557239
- Other Peppol ID
- 9925:BE1004557239
- Legal form
- Private limited company
- Status
- Active, normal situation
- Founded
- 11-01-2024
- Financial year
- ends on 31 December
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- Second Friday of June at 18:00deed of 15-01-2024 (in Dutch)
- Peppol
- Reachable via PeppolFollow this company and you will hear the next morning if it leaves the Peppol register.
- Name
- PITCHER in Dutch
- Entity type
- Legal entity
- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimiteddeed of 15-01-2024 (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.
- “Trekschurenstraat 126, 3500 Hasselt”deed of 15-01-2024 (in Dutch)
Activities
NACEBEL 202511050
Manufacture of beer main activity
Codes under NACEBEL 2008
11050
Manufacture of beer main activity
46349
Wholesale of beverages, general range
- PurposeThe purpose describes the activities the company may carry out under its articles.
- “Het brouwen,het laten brouwen,het kopen,het verkopen,het invoeren,het uitvoeren,het verdelen,het verhandelen,het leveren en de promotie van…”deed of 15-01-2024 (in Dutch)
12 activities
- Het brouwen,het laten brouwen,het kopen,het verkopen,het invoeren,het uitvoeren,het verdelen,het verhandelen,het leveren en de promotie van bieren,alcoholische en niet-alcoholische dranken;
- De inrichting en uitbating van alle drank- en eetgelegenheden,de aan- en verkoop,de bereiding,van alle mogelijke koude en warme gerechten,gebak en confiserie,vlees- en viswaren,belegde broodjes,tapas,ijs:
- Het ontwikkelen,kopen,verkopen,in licentie nemen of geven van octrooien,knowhow en aanverwante immateriële duurzame activa.
- Het opzetten van een netwerk (platform) voor de ondersteuning van ondernemers en de versterking van de samenwerking tussen ondernemers en andere groepen;
- De organisatie en aanbieden van netwerkevents;
- Het organiseren en aanbieden van reizen,(dag-) uitstappen en excursies,zowel van lange als kortere duur;
- Het organiseren en aanbieden van teambuildings en andere groepsactiviteiten;
- De aankoop en verkoop,de huur en verhuur,de groot- en kleinhandel van promotiemateriaal en gadgets;
- De organisatie van en deelname aan workshops,proeverijen,evenementen,beurzen en/of feesten;
- Het ondernemen van activiteiten voor het in stand houden en de promotie van de ambachtelijke biercultuur;
- Het verlenen van bijstand,adviezen van financiële,technische,commerciële of administratieve aard,met betrekking tot voornoemde activiteiten.
- Het geven van diverse cursussen,opleidingen en seminaries zowel voor eigen rekening als voor rekening van derden alsmede het uitgeven van publicaties en cursussen al dan niet op digitale wijze met betrekking tot voormelde activiteiten;
Registered office and establishments
1 establishment| Establishment | Since | Unit number | FASFC approval |
|---|---|---|---|
| Trekschurenstraat 126 registered office 3500 Hasselt | 11-01-2024 | 2.355.050.726 | Food wholesaler - food>3 months |
Buildings and parcels at the address
- Ground area
- 1,785 m²
- Buildings
- 299 m²
- Volume, LiDAR
- 1,671 m³
- Tallest building
- 8.5 m
Buildings to scale, each on its own parcel
Parcels
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 71324E0200/00B002 | 1,785 m² | 1 · 299 m² | 8.5 m · 2 |
Recognitions
Food safety, FASFC
1 siteHasseltunit number 2.355.050.726
Contact
E-mail
info@pitcher.beer