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PRECISION LIEGEOISE

Active
Public limited companyfounded 1923active for 102 yearsRue Désiré Janson 59, 4040 Herstal, BelgiumKBO/BCE: BE 0404.415.467

Financials · financial year 2025, full format

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, 2026-00492143.

Annual accounts 2025 filed on 31-08-2026 at the NBB all 49 filings

Turnover
≈ €1.9m
Estimated: probably between €1.1m and €3.2m
EBIT margin
Not included in this filing
Net result
-€81,040
2024 · €103,006
Working capital
€951,314▼ 6.3%
2024 · €1.0m
Trend over the years

2021 to 2025, 5 financial years 2018 to 2025, 8 financial years

The operating result for 2025 is a loss of €75,504, after a profit of €134,730 in 2024. It is the lowest result since 2021.

Operating result-€0.08m 2025 Net result-€0.08m 2025

Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.

Use the arrow keys on the chart for the figures per year.

The sector band is the middle half of the companies in Manufacture of fabricated metal products, except machinery and equipment (NACE 25). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).

Every figure with its change against the financial year before
favourable unfavourable
Line20182019202020212022202320242025
Operating result€0.5m--€0.08m€0.07m€0.3m▲ 418%€0.4m▲ 15.5%€0.2m▼ 60.1%€0.1m▼ 13.6%-€0.08m
Net result€0.3m--€0.07m€0.05mwithin the sector's middle half€0.3mwithin the sector's middle half▲ 373%€0.3mwithin the sector's middle half▲ 11.6%€0.1mwithin the sector's middle half▼ 53.7%€0.1mwithin the sector's middle half▼ 21.5%-€0.08mbelow the sector's middle half
Equity€1.5m-€1.4m▼ 5.0%€1.3mwithin the sector's middle half▼ 5.8%€1.6mwithin the sector's middle half▲ 18.7%€1.6mwithin the sector's middle half▼ 1.1%€1.4mwithin the sector's middle half▼ 10.0%€1.4mwithin the sector's middle half=€1.3mwithin the sector's middle half▼ 5.8%
Total assets€2.8m-€3.2m▲ 15.1%€2.5mwithin the sector's middle half▼ 22.0%€2.4mwithin the sector's middle half▼ 4.6%€2.5mwithin the sector's middle half▲ 4.8%€2.5mwithin the sector's middle half▼ 0.2%€2.6mwithin the sector's middle half▲ 3.1%€2.2mwithin the sector's middle half▼ 15.6%
Debt€1.3m-€1.8m▲ 38.8%€1.2m▼ 35.1%€0.8m▼ 31.9%€0.9m▲ 16.8%€1.1m▲ 16.7%€1.1m▲ 7.2%€0.8m▼ 27.7%
Working capital€1.0m-€0.9m▼ 7.0%€1.0mwithin the sector's middle half▲ 7.1%€1.2mwithin the sector's middle half▲ 22.4%€1.1mwithin the sector's middle half▼ 2.7%€1.0mwithin the sector's middle half▼ 11.4%€1.0mwithin the sector's middle half▼ 0.3%€1.0mwithin the sector's middle half▼ 6.3%
Solvency54.1%-44.6%▼ 9.5pp53.9%within the sector's middle half▲ 9.3pp67.1%above the sector's middle half▲ 13.2pp63.3%above the sector's middle half▼ 3.8pp57.1%within the sector's middle half▼ 6.2pp55.4%within the sector's middle half▼ 1.7pp61.8%within the sector's middle half▲ 6.4pp
Current ratio1.84-1.56▼ 0.282.05within the sector's middle half▲ 0.492.80above the sector's middle half▲ 0.752.38within the sector's middle half▼ 0.431.99within the sector's middle half▼ 0.392.11within the sector's middle half▲ 0.132.48within the sector's middle half▲ 0.37
Return on assets (ROA)11.3%--2.3%▼ 13.6pp2.1%within the sector's middle half▲ 4.5pp10.6%within the sector's middle half▲ 8.5pp11.3%above the sector's middle half▲ 0.7pp5.3%within the sector's middle half▼ 6.1pp4.0%within the sector's middle half▼ 1.3pp-3.7%below the sector's middle half▼ 7.7pp
Staff (FTE)21.5-22.9▲ 6.5%20.4within the sector's middle half▼ 10.9%20.7within the sector's middle half▲ 1.5%20.1within the sector's middle half▼ 2.9%16.6within the sector's middle half▼ 17.4%16.3within the sector's middle half▼ 1.8%14.2within the sector's middle half▼ 12.9%
above within below The sector band is the middle half of the companies in Manufacture of fabricated metal products, except machinery and equipment (NACE 25). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.2m
Fixed assets €580,582 ▼ 10.6%
Current assets €1.6m ▼ 17.3%
Equity and liabilities €2.2m
Equity €1.3m ▼ 5.8%
Debt €830,152 ▼ 27.7%
Debt's share of the balance-sheet total falls from 44.6% to 38.2%. Equity and debt are lower.
Key figures and ratios
2025 value · change against 2024
EBITDA
€12,419▼
2024 · €218,834
Cash flow
€6,883▼
2024 · €187,109
Quick ratio
1.75▲
2024 · 1.69
Debt to equity
0.62▼
2024 · 0.80
ROE
-6.0%▼
2024 · 7.2%
Interest coverage
1.06▼
2024 · 31.11
Debt ≤ 1 year
€641,919▼
2024 · €910,959
Debt > 1 year
€188,143▼
2024 · €220,918
Income taxes
€832▼
2024 · €43,102
Staff costs
€779,315▼
2024 · €822,393
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.

Staff

social balance sheet
Item31-12-202131-12-202231-12-202331-12-202431-12-2025
Employees at the balance-sheet date2122161713
full-time2021151511
part-time11122
in full-time equivalents20.421.415.416.312.3
Average over the year, in full-time equivalents20.720.116.616.114.2
On a permanent contract1920151613
Joined16232
Left15826

Source: social balance sheet in the 2021 to 2025 annual accounts

Securities and guarantees

on own assets and for others
Item20212022202320242025
Pledge on the business€100,000€100,000€100,000€100,000€100,000
Carrying value of the other pledged assets€94,292€92,084---

Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)

Investments

fixed assets acquired
Item20212022202320242025
Tangible fixed assets€30,186€46,900€4,358€283,911€35,924
Depreciation and write-downs of the year€81,289€78,699€75,088€84,104€87,923

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 58 lines
Balance sheet Code20242025
Assets
Total assets20/58€2.6m€2.2m▼
Fixed assets21/28€0.6m€0.6m▼
Tangible fixed assets22/27€0.6m€0.6m▼
Land and buildings22€0.3m€0.3m▼
Plant, machinery and equipment23€0.2m€0.2m▼
Furniture and vehicles24€0.06m€0.07m▲
Financial fixed assets28€0.01m€0.01m=
Current assets29/58€1.9m€1.6m▼
Stocks and contracts in progress3€0.4m€0.5m▲
Stocks30/36€0.4m€0.5m▲
Amounts receivable within one year40/41€0.9m€0.7m▼
Trade receivables40€0.7m€0.6m▼
Other amounts receivable41€0.2m€0.07m▼
Current investments50/53€0.4m€0.1m▼
Cash at bank and in hand54/58€0.3m€0.3m▲
Deferred charges and accrued income490/1€0.01m€0.001m▼
Equity and liabilities
Total equity and liabilities10/49€2.6m€2.2m▼
Equity10/15€1.4m€1.3m▼
Contributions10/11€1.1m€1.1m=
Capital10€1.1m€1.1m=
Issued capital100€1.1m€1.1m=
Reserves13€0.1m€0.1m=
Non-distributable reserves130/1€0.1m€0.1m=
Legal reserve130€0.1m€0.1m=
Profit (loss) carried forward14€0.2m€0.1m▼
Investment grants15€0.02m€0.02m▼
Amounts payable17/49€1.1m€0.8m▼
Amounts payable after more than one year17€0.2m€0.2m▼
Financial debts170/4€0.2m€0.2m▼
Amounts payable within one year42/48€0.9m€0.6m▼
Current portion of amounts payable after more than one year42€0.08m€0.07m▼
Trade debts44€0.6m€0.3m▼
Suppliers440/4€0.5m€0.3m▼
Bills of exchange payable441€0.006m€0.002m▼
Taxes, remuneration and social security45€0.1m€0.1m▲
Taxes450/3€0.01m€0.02m▲
Remuneration and social security454/9€0.1m€0.1m▼
Other amounts payable47/48€0.1m€0.1m▲
Accrued charges and deferred income492/3€0.02m€89▼
Income statement Code20242025
Remuneration, social security and pensions62€0.8m€0.8m▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.08m€0.09m▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€0.002m
Other operating charges640/8€0.01m€0.01m▼
Gross operating margin9900€1.1m€0.8m▼
Operating profit (loss)9901€0.1m-€0.08m▼
Financial income75/76B€0.02m€0.007m▼
Recurring financial income75€0.02m€0.007m▼
Financial charges65/66B€0.007m€0.01m▲
Recurring financial charges65€0.007m€0.01m▲
Profit (loss) for the period before taxes9903€0.1m-€0.08m▼
Income taxes67/77€0.04m€0.001m▼
Profit (loss) for the period9904€0.1m-€0.08m▼
Profit (loss) for the period to be appropriated9905€0.1m-€0.08m▼
Appropriation of the result
Profit (loss) to be appropriated9906€0.3m€0.1m▼
Profit (loss) brought forward from the previous period14P€0.2m€0.2m▲
Profit to be distributed694/7€0.1m-
Return on contributions (dividend)694€0.1m-
Social balance sheet
Average headcount (FTE)908716.314.2▼

The notes to these accounts have 14 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.

Line20182019202020212022202320242025Change
Remuneration, social security and pensions62---€0.7m€0.9m€0.8m€0.8m€0.8m▼ 5.2%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.1m€0.2m€0.1m€0.08m€0.08m€0.08m€0.08m€0.09m▲ 4.5%
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4---€0.01m---€0.002m-
Other operating charges640/8---€0.006m€0.01m€0.01m€0.01m€0.01m▼ 3.4%
Non-recurring operating charges66A---€0.02m-----
Gross operating margin9900€1.6m€1.2m€0.9m€1.1m€1.4m€1.1m€1.1m€0.8m▼ 23.6%
Operating profit (loss)9901€0.5m-€0.08m€0.07m€0.3m€0.4m€0.2m€0.1m-€0.08m-
Financial income75/76B---€0.01m€0.002m€0.03m€0.02m€0.007m▼ 61.7%
Recurring financial income75€0.02m€0.01m€0.008m€0.01m€0.002m€0.03m€0.02m€0.007m▼ 61.7%
Financial charges65/66B---€0.006m€0.005m€0.003m€0.007m€0.01m▲ 67.0%
Recurring financial charges65€0.008m€0.004m€0.01m€0.006m€0.005m€0.003m€0.007m€0.01m▲ 67.0%
Profit (loss) for the period before taxes9903€0.5m-€0.07m€0.06m€0.3m€0.4m€0.2m€0.1m-€0.08m-
Income taxes67/77€0.1m€480€0.009m€0.09m€0.1m€0.05m€0.04m€0.001m▼ 98.1%
Profit (loss) for the period9904€0.3m-€0.07m€0.05m€0.3m€0.3m€0.1m€0.1m-€0.08m-
Profit (loss) for the period to be appropriated9905€0.3m-€0.07m€0.05m€0.3m€0.3m€0.1m€0.1m-€0.08m-
Line20182019202020212022202320242025Change
Assets
Total assets20/58€2.8m€3.2m€2.5m€2.4m€2.5m€2.5m€2.6m€2.2m▼ 15.6%
Fixed assets21/28€0.7m€0.7m€0.6m€0.6m€0.5m€0.4m€0.6m€0.6m▼ 10.6%
Intangible fixed assets21€0.002m€0.001m€0.001m------
Tangible fixed assets22/27€0.7m€0.7m€0.6m€0.5m€0.5m€0.4m€0.6m€0.6m▼ 10.8%
Land and buildings22---€0.4m€0.4m€0.4m€0.3m€0.3m▼ 11.7%
Plant, machinery and equipment23---€0.06m€0.04m€0.03m€0.2m€0.2m▼ 19.4%
Furniture and vehicles24---€0.04m€0.05m€0.03m€0.06m€0.07m▲ 32.2%
Financial fixed assets28€0.01m€0.01m€0.01m€0.01m€0.01m€0.01m€0.01m€0.01m=
Current assets29/58€2.1m€2.5m€1.9m€1.8m€2.0m€2.0m€1.9m€1.6m▼ 17.3%
Stocks and contracts in progress3€0.2m€0.2m€0.2m€0.3m€0.3m€0.4m€0.4m€0.5m▲ 21.5%
Stocks30/36---€0.3m€0.3m€0.4m€0.4m€0.5m▲ 21.5%
Amounts receivable within one year40/41€1.3m€1.3m€1.1m€0.5m€0.8m€0.8m€0.9m€0.7m▼ 22.8%
Trade receivables40---€0.5m€0.7m€0.6m€0.7m€0.6m▼ 15.6%
Other amounts receivable41---€0.08m€0.1m€0.2m€0.2m€0.07m▼ 55.2%
Current investments50/53€0.3m€0.6m€0.08m€0.4m€0.4m€0.004m€0.4m€0.1m▼ 61.3%
Cash at bank and in hand54/58€0.2m€0.3m€0.4m€0.6m€0.4m€0.9m€0.3m€0.3m▲ 6.8%
Deferred charges and accrued income490/1---€0.01m€0.01m€0.01m€0.01m€0.001m▼ 87.5%
Equity and liabilities
Total equity and liabilities10/49€2.8m€3.2m€2.5m€2.4m€2.5m€2.5m€2.6m€2.2m▼ 15.6%
Equity10/15€1.5m€1.4m€1.3m€1.6m€1.6m€1.4m€1.4m€1.3m▼ 5.8%
Contributions10/11€1.1m€1.1m€1.1m€1.1m€1.1m€1.1m€1.1m€1.1m=
Capital10---€1.1m€1.1m€1.1m€1.1m€1.1m=
Issued capital100---€1.1m€1.1m€1.1m€1.1m€1.1m=
Reserves13€0.1m€0.1m€0.1m€0.1m€0.1m€0.1m€0.1m€0.1m=
Non-distributable reserves130/1---€0.1m€0.1m€0.1m€0.1m€0.1m=
Legal reserve130---€0.1m€0.1m€0.1m€0.1m€0.1m=
Profit (loss) carried forward14€0.3m€0.2m€0.2m€0.4m€0.4m€0.2m€0.2m€0.1m▼ 35.1%
Investment grants15---€0.02m€0.02m€0.03m€0.02m€0.02m▼ 10.2%
Amounts payable17/49€1.3m€1.8m€1.2m€0.8m€0.9m€1.1m€1.1m€0.8m▼ 27.7%
Amounts payable after more than one year17€0.1m€0.1m€0.2m€0.1m€0.08m€0.03m€0.2m€0.2m▼ 14.8%
Financial debts170/4---€0.1m€0.08m€0.03m€0.2m€0.2m▼ 14.8%
Amounts payable within one year42/48€1.1m€1.6m€0.9m€0.7m€0.8m€1.0m€0.9m€0.6m▼ 29.5%
Current portion of amounts payable after more than one year42---€0.1m€0.09m€0.05m€0.08m€0.07m▼ 15.2%
Trade debts44€0.9m€1.3m€0.5m€0.4m€0.5m€0.8m€0.6m€0.3m▼ 48.4%
Suppliers440/4---€0.4m€0.5m€0.8m€0.5m€0.3m▼ 48.2%
Bills of exchange payable441---€0.03m€179€0.03m€0.006m€0.002m▼ 71.3%
Taxes, remuneration and social security45---€0.1m€0.2m€0.1m€0.1m€0.1m▲ 3.2%
Taxes450/3---€0.04m€0.07m€0.01m€0.01m€0.02m▲ 138%
Remuneration and social security454/9---€0.09m€0.2m€0.1m€0.1m€0.1m▼ 7.3%
Other amounts payable47/48---€217-€0.04m€0.1m€0.1m▲ 4.8%
Accrued charges and deferred income492/3----€0.002m€0.008m€0.02m€89▼ 99.5%
Line20182019202020212022202320242025Change
Profit (loss) for the period9904€315,383-€74,600€53,678€253,927€283,465€131,286€103,006-€81,040-
+ Depreciation and write-downs630€146,067€163,988€118,331€81,289€78,699€75,088€84,104€87,923▲ 4.5%
Operating cash flow (approximation)€461,449€89,387€172,009€335,217€362,164€206,374€187,109€6,883▼ 96.3%
Investment in fixed assets (approximation)--€200,796-€29,683-€9,686-€46,900-€4,358-€283,911-€19,282▲ 93.2%
Change in cash-€96,643€59,655€176,566-€181,327€481,407-€570,946€20,014-

A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.

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Historical observation

In July 2024, 8,617 companies had the same profile as PRECISION LIEGEOISE has now. Two years later, 0.4% had gone bankrupt and 94.1% were still going.

  • Small
  • 20 years or older
  • solvency 30% or more
  • a small loss
0.4% went bankrupt
5.2% stopped otherwise
94.1% was still going

Another 0.2% stopped without a precise date, possibly only after those two years.

That fits the bankruptcy probability of PRECISION LIEGEOISE itself: 0.3% within 12 months.

Test of the method

The method was tested on the 497,446 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.

The companies in ten equal groups, from the lowest to the highest expected share
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 8,617 companies, not a prediction for PRECISION LIEGEOISE. 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.

Latest 10 of 49 filings with the National Bank
Financial year Type Filed Reference Document
31-12-2025 full format 31-08-2026 2026-00492143 PDF
31-12-2024 full format 25-08-2025 2025-00400020 PDF
31-12-2023 full format 29-09-2024 2024-00485888 PDF
31-12-2022 full format 18-08-2023 2023-00334720 PDF
31-12-2021 full format 31-08-2022 2022-20388639 PDF
31-12-2020 full format 13-10-2021 2021-71800368 PDF
31-12-2019 full format 01-09-2020 2020-50800003 PDF
31-12-2018 full format 13-08-2019 2019-45900447 PDF
31-12-2017 full format 17-07-2018 2018-34100433 PDF
31-12-2016 full format 24-07-2017 2017-37800582 PDF

Show all 49 filings

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