PIVABO
ActiveSummary
PIVABO has been active since 1995 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €384,775 and a net result of €58,181. Equity is growing by ~7.2% per year across the filed fiscal years. Its solvency ranks better than 24% of 9046 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability73▲+4
Solvency45▼-5
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €23,000 at 30 days acceptable
Liquidity tight (current ratio 1.06 against 1.11 in 2023; short-term debt: 64.2% and cash: 16.2% of total assets), and 79.8% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 24% of 9046 sector peers (2024).
NBB · sector comparisonPosition among 9046 sector peers
Solvency
better than 24%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-06-2025, 31 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
31 d early
2023
33 d early
2022
31 d early
2021
31 d early
2020
31 d early
2019
31 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 31 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, abbreviated schema
Equity
€384,775▲ 4.8%
2023 · €367,102
Total assets
€1.9m▲ 30.3%
2023 · €1.5m
Net result
€58,181▲ 8,724%
2023 · €659
Working capital
€71,980▼ 20.5%
2023 · €90,509
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€120,401▲ 62.3%€230,822▲ 91.7%€82,673▼ 64.2%€24,650▼ 70.2%€108,839▲ 342%
Net result€71,765within the sector's middle half▲ 88.2%€147,115within the sector's middle half▲ 105%€51,772within the sector's middle half▼ 64.8%€659below the sector's middle half▼ 98.7%€58,181within the sector's middle half▲ 8,724%
Equity€309,884within the sector's middle half▲ 17.4%€399,276within the sector's middle half▲ 28.8%€425,347within the sector's middle half▲ 6.5%€367,102within the sector's middle half▼ 13.7%€384,775within the sector's middle half▲ 4.8%
Total assets€1.6mwithin the sector's middle half▲ 10.7%€1.9mwithin the sector's middle half▲ 18.1%€2.0mwithin the sector's middle half▲ 4.9%€1.5mwithin the sector's middle half▼ 27.9%€1.9mwithin the sector's middle half▲ 30.3%
Debt€1.3m▲ 9.2%€1.5m▲ 15.6%€1.6m▲ 4.5%€1.1m▼ 31.7%€1.5m▲ 38.9%
Working capital€235,619▲ 192%€173,795▼ 26.2%€210,489▲ 21.1%€90,509▼ 57.0%€71,980▼ 20.5%
Solvency18.9%within the sector's middle half▲ 1.1pp20.7%within the sector's middle half▲ 1.7pp21.0%within the sector's middle half▲ 0.3pp25.1%within the sector's middle half▲ 4.1pp20.2%below the sector's middle half▼ 4.9pp
Staff (FTE)4.9within the sector's middle half▲ 32.4%4.3within the sector's middle half▼ 12.2%5.6within the sector's middle half▲ 30.2%5.6within the sector's middle half=5within the sector's middle half▼ 10.7%
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2024; 2024 is 342% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.9m
Fixed assets
€610,359 ▲ 7.6%
Current assets
€1.3m ▲ 44.7%
Equity and liabilities €1.9m
Equity
€384,775 ▲ 4.8%
Debt
€1.5m ▲ 38.9%
Debt's share of the balance-sheet total rises from 74.9% to 79.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€269,681▲
2023 · €167,329
Cash flow
€219,023▲
2023 · €143,338
Current ratio
1.06▼
2023 · 1.11
Quick ratio
0.75▲
2023 · 0.65
Debt to equity
3.95▲
2023 · 2.98
ROE
15.1%▲
2023 · 0.2%
ROA
3.1%▲
2023 · 0.0%
Interest coverage
15.37▲
2023 · 13.07
Debt ≤ 1 year
€1.2m▲
2023 · €804,227
Debt > 1 year
€295,751▲
2023 · €289,495
Income taxes
€33,110▲
2023 · €11,531
Staff costs
€395,743▼
2023 · €424,472
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,972 companies that looked in July 2024 the way this one looks now, 1.2% went bankrupt within 24 months and 96% are still going.
- Micro
- 20 years or older
- solvency 10 to 30%
- a profit under 5% of the balance sheet
1.2%
went bankrupt
2.2%
stopped otherwise
96%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.5% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
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 3,972 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €3,000 | €7,500 | - | €11,550 | - |
| Remuneration, social security and pensions62 | - | €276,553 | €371,229 | €424,472 | €395,743 | ▼ 6.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €110,659 | €114,424 | €132,193 | €142,679 | €160,842 | ▲ 12.7% |
| Other operating charges640/8 | - | €17,121 | €13,455 | €14,380 | €14,854 | ▲ 3.3% |
| Gross operating margin9900 | €507,721 | €638,920 | €599,550 | €606,180 | €680,277 | ▲ 12.2% |
| Operating profit (loss)9901 | €120,401 | €230,822 | €82,673 | €24,650 | €108,839 | ▲ 342% |
| Financial income75/76B | - | €531 | €1,259 | €341 | - | - |
| Recurring financial income75 | €1,122 | €531 | €1,259 | €341 | - | - |
| Financial charges65/66B | - | €11,637 | €9,428 | €12,801 | €17,547 | ▲ 37.1% |
| Recurring financial charges65 | €15,095 | €11,637 | €9,428 | €12,801 | €17,547 | ▲ 37.1% |
| Profit (loss) for the period before taxes9903 | €106,429 | €219,715 | €74,504 | €12,190 | €91,292 | ▲ 649% |
| Income taxes67/77 | €34,664 | €72,601 | €22,731 | €11,531 | €33,110 | ▲ 187% |
| Profit (loss) for the period9904 | €71,765 | €147,115 | €51,772 | €659 | €58,181 | ▲ 8,724% |
| Profit (loss) for the period to be appropriated9905 | €71,765 | €147,115 | €51,772 | €659 | €58,181 | ▲ 8,724% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.6m | €1.9m | €2.0m | €1.5m | €1.9m | ▲ 30.3% |
| Fixed assets21/28 | €594,145 | €618,545 | €652,017 | €567,240 | €610,359 | ▲ 7.6% |
| Tangible fixed assets22/27 | €594,145 | €618,545 | €652,017 | €567,240 | €610,359 | ▲ 7.6% |
| Land and buildings22 | - | €208,025 | €168,293 | €133,045 | €108,620 | ▼ 18.4% |
| Plant, machinery and equipment23 | - | €31,479 | €135,040 | €105,627 | €75,674 | ▼ 28.4% |
| Furniture and vehicles24 | - | €121,572 | €122,027 | €132,726 | €261,037 | ▲ 96.7% |
| Other tangible fixed assets26 | - | €257,469 | €226,656 | €195,843 | €165,029 | ▼ 15.7% |
| Current assets29/58 | €1.0m | €1.3m | €1.4m | €894,736 | €1.3m | ▲ 44.7% |
| Stocks and contracts in progress3 | €200,713 | €182,585 | €270,883 | €375,834 | €373,496 | ▼ 0.6% |
| Stocks30/36 | - | €182,585 | €270,883 | €375,834 | €373,496 | ▼ 0.6% |
| Amounts receivable within one year40/41 | €707,720 | €1.1m | €964,409 | €255,716 | €591,724 | ▲ 131% |
| Trade receivables40 | - | €1.1m | €956,548 | €250,527 | €591,355 | ▲ 136% |
| Other amounts receivable41 | - | €4,841 | €7,861 | €5,189 | €369 | ▼ 92.9% |
| Current investments50/53 | €275 | €275 | €275 | €275 | €275 | = |
| Cash at bank and in hand54/58 | €117,839 | €51,680 | €121,589 | €225,779 | €308,118 | ▲ 36.5% |
| Deferred charges and accrued income490/1 | - | €18,051 | €18,312 | €37,132 | €21,186 | ▼ 42.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.6m | €1.9m | €2.0m | €1.5m | €1.9m | ▲ 30.3% |
| Equity10/15 | €309,884 | €399,276 | €425,347 | €367,102 | €384,775 | ▲ 4.8% |
| Contributions10/11 | - | €12,395 | €12,395 | €12,395 | €12,395 | = |
| Reserves13 | €297,489 | €386,881 | €412,953 | €354,707 | €372,380 | ▲ 5.0% |
| Non-distributable reserves130/1 | - | €1,859 | €1,859 | - | - | - |
| Reserves not available under the articles1311 | - | €1,859 | €1,859 | - | - | - |
| Distributable reserves133 | - | €385,022 | €411,093 | €354,707 | €372,380 | ▲ 5.0% |
| Amounts payable17/49 | €1.3m | €1.5m | €1.6m | €1.1m | €1.5m | ▲ 38.9% |
| Amounts payable after more than one year17 | €338,884 | €392,430 | €436,765 | €289,495 | €295,751 | ▲ 2.2% |
| Financial debts170/4 | - | €392,430 | €436,765 | €289,495 | €295,751 | ▲ 2.2% |
| Amounts payable within one year42/48 | €806,326 | €1.1m | €1.2m | €804,227 | €1.2m | ▲ 52.0% |
| Current portion of amounts payable after more than one year42 | - | €111,896 | €147,897 | €147,270 | €132,418 | ▼ 10.1% |
| Financial debts43 | - | €8,364 | €8,364 | - | - | - |
| Credit institutions430/8 | - | €8,364 | €8,364 | - | - | - |
| Trade debts44 | €355,036 | €594,339 | €701,164 | €359,097 | €778,442 | ▲ 117% |
| Suppliers440/4 | - | €594,339 | €701,164 | €359,097 | €778,442 | ▲ 117% |
| Advances received on contracts in progress46 | - | €134,775 | €44,379 | €37,295 | €30,465 | ▼ 18.3% |
| Taxes, remuneration and social security45 | - | €180,642 | €164,107 | €143,507 | €177,962 | ▲ 24.0% |
| Taxes450/3 | - | €157,905 | €125,135 | €73,344 | €92,631 | ▲ 26.3% |
| Remuneration and social security454/9 | - | €22,736 | €38,972 | €70,163 | €85,332 | ▲ 21.6% |
| Other amounts payable47/48 | - | €110,044 | €99,067 | €117,058 | €103,531 | ▼ 11.6% |
| Accrued charges and deferred income492/3 | - | €634 | €393 | €1,152 | €1,813 | ▲ 57.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €71,765 | €147,115 | €51,772 | €659 | €58,181 | ▲ 8,724% |
| + Depreciation and write-downs630 | €110,659 | €114,424 | €132,193 | €142,679 | €160,842 | ▲ 12.7% |
| Operating cash flow (approximation) | €182,424 | €261,538 | €183,965 | €143,338 | €219,023 | ▲ 52.8% |
| Investment in fixed assets (approximation) | - | -€138,824 | -€165,664 | -€57,902 | -€203,961 | ▼ 252% |
| Change in cash | - | -€66,159 | €69,909 | €104,191 | €82,338 | ▼ 21.0% |
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
2025
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
28-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Weakest financial yearnet €659 ▼98.7%
Net result drops to €659, the lowest in the series; recovery starts the following year.
30-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
30-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Highest result since 2018net €147,115 ▲105%
Operating result €230,822, net result €147,115, both a record.
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
30-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
28-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
29-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
30-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
30-06
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Kortrijk · 1 establishment unit since 1998
Ground area
2,584 m²
Building footprint
1,074 m²
Volume, LiDAR
5,238 m³
Parcel 34022E0632/00F002, Flanders · tallest building 7.6 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
PIVABO
since 19982.074.983.715
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34022E0632/00F002 | Flanders | 2,584 m² | 1 · 1,074 m² | 7.6 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.
Public money · subsidies and aid
Flemish government
2022 · 1 entry · 179 EUR awarded · 179 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 1 | 179 EUR | 179 EUR |
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Of 805 companies in sector 46610 we hold annual accounts for 566. 469 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
Founded28-12-1995
Fiscal year end31-12
Activities, NACEBEL 2025
46610Wholesale trade
Contact
E-invoicing
Reachable via Peppol
Peppol ID
0208:0456779532
Registered
29-01-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.