Result
From profit to loss in 2025, after a profit of €99,858 in 2024.
From profit to loss in 2025, after a profit of €99,858 in 2024.
€50,000 of the debts are secured on the company's own assets.
Green is investment, beige is depreciation.
The 2025 accounts came latest: 31 days after the end of the period.
Lower net result than 95% of companies in specialised construction. Sector median €26,643 · 9,942 companies.
The dashed line is the sector median: 0.7% across 47,701 companies (NACE 43, micro).
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
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 43, micro). It does better than 24% of them on solvency, 22% on liquidity, 9% on profitability and 11% on growth.
The bankruptcy probability was computed on 07-11-2026 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 moderate class on 30-06-2025, 2.4% 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).
In July 2024, 1,294 companies had the same profile as PIXELVISION has now. Each dot stands for 4 companies, two years later.
Another 0.4% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of PIXELVISION itself: 2.3% within 12 months.
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 1,294 companies, not a prediction for PIXELVISION. 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.
Liquidity is insufficient, with a current ratio of 0.5 (0.69 in 2024), below 1. Short-term debt is 47.3% and cash 5.5% of total assets. 77.4% of the assets are financed with debt and provisions.
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.
The company filed its last 7 accounts on average 4 days after the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| PIXELVISION Hasselt | €630,796 | €169,949 | 22.6% | 3 |
| BMS ELECTRO Bocholt | €814,399 | €266,464 | 23.5% | 2.8 |
| NOBIS Sint-Truiden | €486,934 | €254,314 | 36.2% | 3.9 |
| ALIAS COMPANY BELGIUM Forest | €620,259 | €210,157 | 67.6% | 2.2 |
| MOERMAN TORRE TECHNIEKEN Evergem | €507,541 | €151,998 | 47.4% | 3.8 |
| DNP Concept Rendeux | €831,906 | €124,557 | 36.1% | 3.3 |
| VVR ELEKTRO Wevelgem | €585,704 | €226,582 | 53.5% | 4.3 |
These companies have the same main activity as PIXELVISION: general electrical installation work (NACE 43211). They are comparable in size and age: total assets between €487,000 and €832,000, founded between 2012 and 2017.
PIXELVISION files the abbreviated format. That format states no turnover. The gross margin rose from -€255 in 2016 to €169,949 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €480,000. Estimated: probably between €360,000 and €590,000.
Higher than 24% of 9,950 companies in 2025.
Higher than 6% of 9,814 companies in 2025.
Higher than 8% of 9,883 companies in 2025.
Net result: bottom quarter · Equity: middle half · Balance sheet total: middle half · Working capital: bottom quarter · Staff: middle half
Staff costs divided by the average number of full-time equivalents.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||
20/58 |
630,796 | 526,422 | 341,643 | 361,042 | 272,356 | 184,040 | 197,912 | 209,355 | 63,085 | 35,379 | |
20 |
- | - | - | - | - | - | 85 | 290 | 495 | 700 | |
21/28 |
480,940 | 350,302 | 237,400 | 134,615 | 100,928 | 95,148 | 101,037 | 93,299 | 32,464 | 1,175 | |
21 |
474,772 | 342,306 | 229,502 | 112,846 | 75,992 | 88,529 | 96,237 | 87,899 | 32,119 | - | |
22/27 |
1,968 | 3,796 | 3,698 | 6,569 | 9,736 | 2,419 | 600 | 1,200 | 346 | 1,175 | |
23 |
1,968 | 3,796 | 3,698 | 5,960 | 8,222 | - | 600 | 1,200 | 346 | 1,175 | |
24 |
- | - | - | 609 | 1,514 | 2,419 | - | - | - | - | |
28 |
4,200 | 4,200 | 4,200 | 15,200 | 15,200 | 4,200 | 4,200 | 4,200 | - | - | |
29/58 |
149,856 | 176,119 | 104,243 | 226,427 | 171,428 | 88,892 | 96,790 | 115,765 | 30,126 | 33,504 | |
3 |
8,789 | 4,010 | 3,442 | 4,130 | 17,018 | 31,492 | 75,715 | 1,993 | 3,006 | 3,751 | |
30/36 |
8,789 | 4,010 | 3,442 | 4,130 | 4,518 | 13,992 | 11,215 | 1,993 | 3,006 | 3,751 | |
37 |
- | - | - | - | 12,500 | 17,500 | 64,500 | - | - | - | |
40/41 |
106,621 | 130,857 | 100,801 | 205,113 | 139,488 | 52,492 | 20,625 | 77,752 | 21,256 | 26,346 | |
40 |
70,373 | 120,458 | 94,547 | 205,113 | 139,485 | 49,962 | 19,531 | 59,939 | 18,758 | 14,355 | |
41 |
36,248 | 10,399 | 6,254 | - | 3 | 2,531 | 1,095 | 17,813 | 2,498 | 11,991 | |
54/58 |
34,446 | - | - | 17,183 | 14,922 | 2,446 | 62 | 20 | 5,611 | 3,407 | |
490/1 |
- | 41,252 | - | - | - | 2,461 | 387 | 36,000 | 252 | - | |
| Balance sheet: equity and liabilities | |||||||||||
10/49 |
630,796 | 526,422 | 341,643 | 361,042 | 272,356 | 184,040 | 197,912 | 209,355 | 63,085 | 35,379 | |
10/15 |
142,369 | 230,338 | 130,479 | 169,698 | 159,212 | 101,757 | 35,252 | 26,073 | -25,403 | -17,165 | |
10/11 |
61,200 | 61,200 | 61,200 | 61,200 | 61,200 | 61,200 | 61,200 | 61,200 | 18,600 | 6,200 | |
100 |
- | - | - | - | - | - | 61,200 | 61,200 | 18,600 | 18,600 | |
101 |
- | - | - | - | - | - | - | - | - | 12,400 | |
14 |
81,169 | 169,138 | 69,279 | 108,498 | 98,012 | 40,557 | -25,948 | -35,127 | -44,003 | -23,365 | |
17/49 |
488,427 | 296,084 | 211,163 | 191,343 | 113,144 | 82,282 | 162,660 | 183,281 | 88,488 | 52,545 | |
17 |
159,508 | - | - | - | - | - | - | - | - | - | |
170/4 |
159,508 | - | - | - | - | - | - | - | - | - | |
42/48 |
298,094 | 254,855 | 159,851 | 191,343 | 113,100 | 80,559 | 162,326 | 179,480 | 88,488 | 52,545 | |
42 |
5,492 | - | - | - | - | - | - | - | - | - | |
43 |
20,654 | 60,886 | 26,452 | - | - | - | 25,000 | 26,104 | 25,000 | - | |
430/8 |
20,654 | 60,886 | 26,452 | - | - | - | 25,000 | 26,104 | 25,000 | - | |
44 |
37,458 | 124,419 | 107,842 | 146,890 | 61,286 | 16,162 | 22,560 | 41,908 | 43,641 | 21,923 | |
440/4 |
37,458 | 124,419 | 107,842 | 146,890 | 61,286 | 16,162 | 22,560 | 41,908 | 43,641 | 21,923 | |
45 |
5 | 267 | - | 18,954 | 9,828 | 9,271 | 253 | 2,550 | 2,285 | 22,029 | |
450/3 |
5 | 267 | - | 18,954 | 9,828 | 9,271 | 253 | 725 | 460 | 1,348 | |
454/9 |
- | - | - | - | - | - | - | 1,825 | 1,825 | 20,681 | |
47/48 |
234,485 | 69,283 | 25,557 | 25,500 | 41,986 | 55,125 | 114,513 | 108,918 | 17,562 | 8,592 | |
492/3 |
30,825 | 41,229 | 51,313 | - | 44 | 1,724 | 334 | 3,802 | - | - | |
| Income statement | |||||||||||
76A |
- | - | - | - | - | - | 1,653 | - | - | - | |
9900 |
169,949 | 362,794 | 132,529 | 112,776 | 134,797 | 148,431 | 102,800 | 86,137 | 37,399 | -255 | |
62 |
171,825 | 167,193 | 120,965 | 63,038 | 35,018 | 39,666 | 56,497 | 45,184 | 44,981 | 7,333 | |
630 |
89,461 | 55,387 | 35,364 | 37,361 | 37,751 | 32,849 | 35,992 | 27,633 | 10,731 | 1,638 | |
631/4 |
- | 1,188 | - | - | - | - | - | - | - | 12,050 | |
640/8 |
278 | 32,287 | 395 | 402 | 1,791 | 1,218 | 212 | 335 | 1,165 | 1,024 | |
66A |
- | - | - | - | - | - | 49 | - | - | - | |
9901 |
-91,615 | 106,739 | -24,195 | 11,974 | 60,236 | 74,697 | 10,099 | 12,986 | -19,478 | -22,301 | |
75/76B |
16,100 | 303 | 50 | 103 | 36 | 281 | 1,771 | 1 | 76 | 255 | |
75 |
120 | 303 | 50 | 103 | 36 | 281 | 117 | 1 | 76 | 255 | |
76B |
15,980 | - | - | - | - | - | 1,653 | - | - | - | |
65/66B |
12,454 | 7,184 | 15,074 | 1,591 | 2,818 | 8,473 | 2,690 | 4,111 | 1,108 | 1,319 | |
65 |
12,454 | 7,184 | 15,074 | 1,591 | 1,913 | 8,473 | 2,641 | 4,111 | 1,108 | 1,319 | |
66B |
- | - | - | - | 904 | - | 49 | - | - | - | |
9903 |
-87,969 | 99,858 | -39,219 | 10,486 | 57,455 | 66,505 | 9,179 | 8,876 | -20,510 | -23,365 | |
67/77 |
- | - | - | - | - | - | - | - | 128 | - | |
9904 |
-87,969 | 99,858 | -39,219 | 10,486 | 57,455 | 66,505 | 9,179 | 8,876 | -20,638 | -23,365 | |
9905 |
-87,969 | 99,858 | -39,219 | 10,486 | 57,455 | 66,505 | 9,179 | 8,876 | -20,638 | -23,365 | |
| Appropriation of the result | |||||||||||
9906 |
81,169 | 169,138 | 69,279 | 108,498 | 98,012 | 40,557 | -25,948 | -35,127 | -44,003 | -23,365 | |
14P |
169,138 | 69,279 | 108,498 | 98,012 | 40,557 | - | - | - | - | - | |
| Social balance sheet | |||||||||||
9087 |
3 | 3.4 | 3 | 1.8 | 1.2 | 1.2 | 1.6 | 1.3 | 1.5 | 1 | |
Hours worked1013 |
5,355 | 6,009 | 5,032 | 3,036 | 1,932 | 1,726 | 2,888 | 2,150 | 2,561 | 532 | |
| Document | |||||||||||
The notes to these accounts have 20 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.
2025 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, 2026-00460011.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 31-08-2026 | 2026-00460011 | |
| 31-12-2024 | abbreviated format | 23-07-2025 | 2025-00296621 | |
| 31-12-2023 | abbreviated format | 14-08-2024 | 2024-00343773 | |
| 31-12-2022 | micro format | 18-07-2023 | 2023-00243523 | |
| 31-12-2021 | micro format | 30-08-2022 | 2022-20346150 | |
| 31-12-2020 | abbreviated format | 05-07-2021 | 2021-30100056 | |
| 31-12-2019 | abbreviated format | 29-07-2020 | 2020-35200167 | |
| 31-12-2018 | abbreviated format | 30-07-2019 | 2019-39700369 | |
| 31-12-2017 | abbreviated format | 24-08-2018 | 2018-48800102 | |
| 31-12-2016 | abbreviated format | 15-06-2017 | 2017-18500163 |
| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 2 | €0 | €43,460 |
| 2024 | 1 | €0 | €85,000 |
| 2023 | 1 | €213,460 | €85,000 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| -2,154 | 162,127 | 11,169 | 49,335 | 97,988 | 107,547 | 46,091 | 40,619 | -8,747 | -20,662 | ||
| 1,492 | 155,246 | -3,855 | 47,847 | 95,206 | 99,354 | 45,171 | 36,509 | -9,907 | -21,727 | ||
| 220,098 | 168,290 | 149,149 | 71,048 | 43,532 | 26,875 | 43,525 | 88,263 | 41,815 | 2,489 | ||
| - | - | - | 2,261 | 12,477 | 2,383 | 42 | -5,591 | 2,204 | - | ||
| -148,238 | -78,736 | -55,608 | 35,083 | 58,328 | 8,333 | -65,536 | -63,715 | -58,362 | -19,041 | ||
| 22.6% | 43.8% | 38.2% | 47.0% | 58.5% | 55.3% | 17.8% | 12.5% | -40.3% | -48.5% | ||
| 0.50 | 0.69 | 0.65 | 1.18 | 1.52 | 1.10 | 0.60 | 0.65 | 0.34 | 0.64 | ||
| 0.47 | 0.68 | 0.63 | 1.16 | 1.37 | 0.71 | 0.13 | 0.63 | 0.31 | 0.57 | ||
| 3.43 | 1.29 | 1.62 | 1.13 | 0.71 | 0.81 | 4.61 | 7.03 | - | - | ||
| -61.8% | 43.4% | -30.1% | 6.2% | 36.1% | 65.4% | 26.0% | 34.0% | - | - | ||
| -13.9% | 19.0% | -11.5% | 2.9% | 21.1% | 36.1% | 4.6% | 4.2% | -32.7% | -66.0% | ||
| -0.17 | 22.57 | 0.74 | 31.02 | 51.21 | - | - | - | - | - |
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.
| Item | 31-12-2025 | 31-12-2024 | 31-12-2023 | 31-12-2022 | 31-12-2021 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 3 | 3 | 3 | 3 | 1 |
| full-time | 3 | 3 | 3 | 3 | 1 |
| in full-time equivalents | 3 | 3 | 3 | 3 | 1 |
| 3 | 3.4 | 3 | 1.8 | 1.2 | |
| On a permanent contract | 3 | 3 | 3 | 3 | 1 |
| Joined | - | 3 | - | 2 | 2 |
| Left | - | 3 | - | 0 | 2 |
Source: social balance sheet in the 2021 to 2025 annual accounts
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €50,000 | - | - | - | - |
| Debts guaranteed by Belgian public bodies | €93,750 | - | - | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €1,857 | - | - | €9,203 |
| Intangible fixed assets | €220,098 | €166,433 | €149,149 | €71,048 | €23,328 |
| Financial fixed assets | - | - | - | - | €11,000 |
| €89,461 | €55,387 | €35,364 | €37,361 | €37,751 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a loss of €91,615, after a profit of €106,739 in 2024. It is the lowest result since 2016.
Debt's share of the balance-sheet total rises from 56.2% to 77.4%. Equity is lower and debt is higher.
Source: lists of holdings in the owners' accounts
Source: list of holdings in its own 2022 accounts. The amounts are in that list and come from the holdings' accounts at 30-06-2022, in their own currency.
| DPG Media
establishment since 29-12-2017 · founded in 1987 · group EPIFIN |
1,156 FTE (2025) 0432.306.234 |
| JOBMATCH
establishment since 15-11-2016 · founded in 1978 |
1,320 FTE (2025) 0418.737.419 |
| LIMBURG DIEPENBEEK CAMPUS
registered office since 12-07-1989 · founded in 1989 |
total assets €36.4m (2025) 0437.711.213 |
| Resillion Belgium
registered office since 12-09-2000 · founded in 2000 · accounts filed late |
111 FTE (2024) 0471.560.055 |
| Cubigo International
registered office since 09-09-2011 · founded in 2011 |
23 FTE (2025) 0838.815.319 |
| axsminds
registered office since 27-03-2024 · founded in 2024 |
total assets €6.4m (2025) 1007.629.268 |
| QOMPIUM
registered office since 18-01-2016 · founded in 2014 · group POMIN |
14 FTE (2025) 0559.981.592 |
| Shield
registered office since 14-11-2023 · founded in 2023 |
total assets €5.2m (2025) 1002.259.428 |
| BlooLoc
registered office since 01-04-2016 · founded in 2014 |
10 FTE (2025) 0506.804.610 |
| EVEREST ADVOCATEN GENT
establishment since 01-02-2026 · founded in 2012 |
10 FTE (2025) 0843.239.014 |
The network starts from the directors of PIXELVISION. Every other company they run is a node.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Kempische steenweg 303 registered office 3500 Hasselt 4321102 General electrical installation work | 14-05-2015 | 2.241.555.974 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 71322A0540/00B002 | 3,380 m² | - | - |
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0628.964.232
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