Equity
€1.2m from €2.0m in 2019
Equity fell by 40% in 6 years.
PIVERO
Lifetime
19 annual accounts with figures on one time axis, 32 filings since 1994peak €806,160 (2015)
€246,767▼ 50.6%
lowest -€875,914 (2011)
-€295,279▼ €257,003
peak €2.0m (2019)
€1.2m▼ 19.4%
€7.0m▼ 2.0%
peak 1 FTE (2007)
-not published
Board5 names since 2016
5 directorsDebrabander Virginie and 4 others
Documentsfilings and deeds
30-01-20261 day before the deadline
2025micro format
Gross margin from €499,873 to €246,767Loss of €295,2793 directors appointed 10-04Equity from €1.5m to €1.2mCash from €84,765 to €0
Key points
from the 2025 annual accountsLosses
-€812,563 in six years
Every financial year from 2020 to 2025 closed with a loss. 2025 was the heaviest.
Debts
€7.0m 79% of the balance sheet
Financial debts 33%Suppliers 0%Other 67%
Of this, €4.8m falls due within a year.
Investments
€4,150 0.0 × depreciation
Green is investment, beige is depreciation.
Filings
32 annual accounts since 1994
Three of the last ten came late. The 2021 accounts came latest: 10 days after the end of the period.
Position in the sector
-€295,279
Lower net result than 95% of companies in real estate. Sector median €5,986 · 17,185 companies.
Checked score
82
Excellent
Financially stronger than 21% of small companies in real estate (NACE 68)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.3% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 6,995 companies (NACE 68, small).
About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.3%
01-2025: 0.5%▲ +0.2 percentage points vs 12-2024
02-2025: 0.7%▲ +0.2 percentage points vs 01-2025highest value
03-2025: 0.1%▼ -0.6 percentage points vs 02-2025
04-2025: 0.1%● unchanged vs 03-2025
05-2025: 0.1%● unchanged vs 04-2025
06-2025: 0.1%● unchanged vs 05-2025lowest value
07-2025: 0.1%● unchanged vs 06-2025lowest value
08-2025: 0.1%● unchanged vs 07-2025
09-2025: 0.1%● unchanged vs 08-2025
10-2025: 0.1%● unchanged vs 09-2025
11-2025: 0.1%● unchanged vs 10-2025
12-2025: 0.1%● unchanged vs 11-2025
01-2026: 0.2%▲ +0.1 percentage points vs 12-2025
02-2026: 0.3%▲ +0.1 percentage points 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: 0.3%● unchanged vs 06-2026
08-2026: 0.3%● unchanged vs 07-2026
09-2026: 0.3%● unchanged vs 08-2026
10-2026: 0.3%● unchanged vs 09-2026
11-2026: 0.3%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Liquidity: current ratio 0.00, cash €0, halved
Equity €1.2m (13.7% of total assets)
lowers risk
Size: total assets €8.9m
Founded in 1992
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 68, small). It does better than 33% of them on solvency, 17% on liquidity, 18% on profitability and 16% 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 30-06-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% 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, 371 companies had the same profile as PIVERO has now. Each dot is one company, two years later.
97.3%
were still trading
2.2%
stopped another way
0.5%
went bankrupt
That fits the bankruptcy probability of PIVERO itself: 0.3% within 12 months.
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 371 companies, not a prediction for PIVERO. 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
Credit of up to €100,000 on 30-day terms is acceptable
Liquidity is insufficient, with a current ratio of 0.0 (0.02 in 2024), below 1. Short-term debt is 53.3% and cash 0% of total assets. 86.3% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
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
19202122232425
2019 to 2025 · latest year -€295,279
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 30-01-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 day early
2024
4 days late
2023
1 day early
2022
10 days late
2021
10 days late
2020
3 days early
2019
1 day early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 3 days after the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The financial year that closed on 30-06-2026 is due by 31-01-2027. Nothing is late today. The company usually files around 4 February (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
30-06-2026 year end10-11-2026 today31-01-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0449015572
3 directors appointed
Debrabander Charlotte, Debrabander Céline and Debrabander Virginie · Board meeting of 07-12-2024 · Gazette deed
Purpose change · Amendment of the articles
“Hetverwervenenbeherenvaneenkunstpatrimoniumendatin demeestruimezin; Hetuitbatenvanwinkelsenhandelsruimtes…” (deed in Dutch) · General meeting of 05-12-2023 · Gazette deed
Registered office moved from Knokke to Roeselare
New registered office: Sint-Eloois-Winkelsestraat 83, 8800 Roeselare · Previous registered office: VLAAMS PAD 18-8300 KNOKKE · Appointments: Charlotte Debrabander (director) and Céline Debrabander (director) · General meeting of 21-12-2020 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| PIVERO Roeselare | €8.9m | €246,767 | 13.7% | - |
| VERESTATE Keerbergen | €9.1m | €242,752 | 90.6% | 0 |
| Compagnie fiduciaire et de Gestion Charleroi | €7.8m | €254,757 | 43.3% | 0.5 |
| BORMANS - COLSON Genk | €8.2m | €243,442 | -0.3% | - |
| METROMAD BELGIUM Woluwe-Saint-Pierre | €7.8m | €269,760 | 18.1% | - |
| A.V.J. INVEST Woluwe-Saint-Pierre | €9.4m | €242,534 | 39.4% | 2 |
| Mahy Invest Ghent | €7.2m | €263,023 | 71.1% | - |
These companies have the same main activity as PIVERO: renting and operating of own or leased residential real estate, excluding social housing (NACE 68201). They are comparable in size and age: total assets between €7.2m and €9.4m, founded between 1986 and 1996.
Official details
Source: KBO- Status
- Active since 22-12-1992Normal situation
- Activity
- Renting and operating of own or leased residential real estate, excluding social housingNACE 68201
- Establishment unit
- 2.060.580.5028300 Knokke-Heist, since 03-02-1993
- Financial year end
- 30 June
- Peppol
- Reachable since 05-01-2026
Annual accounts to 30-06-2025
- ≈ €360,000estimated
- €8.9m▼ 5.0%
- Filing
- Filed on 30-01-2026, 1 day before the end of the filing period
Insights on PIVERO
PIVERO files the micro format. That format states no turnover. The gross margin fell from €289,297 in 2008 to €246,767 in 2025.
The balance sheet grew most from 2012 to 2014 through fixed assets, financed with long-term debt.
In April 2025, the Official Gazette published the appointment of Debrabander Virginie as managing director.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about PIVERO
- What is the company number of PIVERO?
- The company number of PIVERO is 0449.015.572. The VAT number is the same number with BE in front: BE 0449.015.572.
- Where is PIVERO based?
- The registered office is at Sint-Eloois-Winkelsestraat 83, 8800 Roeselare.Company details
- What does PIVERO do?
- According to the KBO register, the main activity is renting and operating of own or leased residential real estate, excluding social housing (NACE 68201).
- What is the legal form of PIVERO?
- PIVERO is a public limited company (NV).
- When was PIVERO founded?
- PIVERO was founded on 22-12-1992.
- Is PIVERO still active?
- Yes, PIVERO is an active enterprise in the KBO register.
- What is the turnover of PIVERO?
- The turnover in financial year 2025 is ≈ €360,000. This figure is estimated from the gross margin of €246,767 and 31 comparable companies (NACE 68201). It probably lies between €280,000 and €480,000.Financials
- Is PIVERO profitable?
- In financial year 2025, PIVERO made a loss of €295,279.
- Where can I find the annual accounts of PIVERO?
- PIVERO filed 32 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of PIVERO due?
- PIVERO must file the annual accounts for financial year 2026 by 31-01-2027.Timeline
Next steps
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