Pyrie
ActiveFinancials · financial year 2025, abbreviated format
2025 annual accounts filed 73 days after the deadline Filed on 12 October 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00554094.
Annual accounts 2025 filed on 12-10-2026 at the NBB all 27 filings
Turnover
≈ €120,000
Estimated: probably between €66,000 and €790,000
Total assets
€33,916▼ 53.0%
2024 · €72,099
Net result
-€14,210▲ 86.4%
2024 · -€104,650
Working capital
-€679,226▲ 4.0%
2024 · -€707,648
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€14,000
▲ 86.6%
2025
20182025
Net result
-€14,210
▲ 86.4%
2025
lowest quarter of the sector
20182025
Equity
-€664,525
▼ 2.2%
2025
lowest quarter of the sector
20182025
Total assets
€33,916
▼ 53.0%
2025
lowest quarter of the sector
20182025
Debt
€698,442
▼ 3.3%
2025
20182025
Working capital
-€679,226
▲ 4.0%
2025
lowest quarter of the sector
20182025
Solvency
no figure
2025
20182025
Current ratio
0.03
▲ 0.01
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
-41.9%
▲ 103.2pp
2025
lowest quarter of the sector
20182025
Staff (FTE)
no figure
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€53--€225,000▼ 425,231%-€10,025▲ 95.5%-€1,568▲ 84.4%-€75,500▼ 4,714%-€155,495▼ 106%-€104,314▲ 32.9%-€14,000▲ 86.6%
Net result-€92--€225,134▼ 244,345%-€10,067below the sector's middle half▲ 95.5%-€1,613within the sector's middle half▲ 84.0%-€77,000below the sector's middle half▼ 4,672%-€155,969below the sector's middle half▼ 103%-€104,650below the sector's middle half▲ 32.9%-€14,210below the sector's middle half▲ 86.4%
Equity-€75,882--€301,015▼ 297%-€311,082below the sector's middle half▼ 3.3%-€312,696below the sector's middle half▼ 0.5%-€389,696below the sector's middle half▼ 24.6%-€545,665below the sector's middle half▼ 40.0%-€650,315below the sector's middle half▼ 19.2%-€664,525below the sector's middle half▼ 2.2%
Total assets€226,335-€12▼ 100.0%€137below the sector's middle half▲ 12×€848below the sector's middle half▲ 521%€173,161within the sector's middle half▲ 204×€109,573below the sector's middle half▼ 36.7%€72,099below the sector's middle half▼ 34.2%€33,916below the sector's middle half▼ 53.0%
Debt€302,217-€301,027▼ 0.4%€311,219▲ 3.4%€313,544▲ 0.7%€562,857▲ 79.5%€655,238▲ 16.4%€722,413▲ 10.3%€698,442▼ 3.3%
Working capital€225,098--€301,015-€311,082below the sector's middle half▼ 3.3%-€312,696below the sector's middle half▼ 0.5%-€518,947below the sector's middle half▼ 66.0%-€632,260below the sector's middle half▼ 21.8%-€707,648below the sector's middle half▼ 11.9%-€679,226below the sector's middle half▲ 4.0%
Solvency-33.5%--225.0%below the sector's middle half-498.0%below the sector's middle half▼ 272.9pp-902.0%below the sector's middle half▼ 404.0pp
Current ratio0.08below the sector's middle half0.04below the sector's middle half▼ 0.040.02below the sector's middle half▼ 0.010.03below the sector's middle half▲ 0.01
Return on assets (ROA)0.0%--44.5%below the sector's middle half-142.3%below the sector's middle half▼ 97.9pp-145.1%below the sector's middle half▼ 2.8pp-41.9%below the sector's middle half▲ 103.2pp
Staff (FTE)10.8▼ 20.0%
above
within
below
The sector band is the middle half of the companies in Crop and animal production, hunting and related service activities (NACE 01). 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 operating result for 2025 is a loss of €14,000, smaller than the loss of €104,314 in 2024.
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.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €33,916
Fixed assets
€14,712 ▼ 74.3%
Current assets
€19,204 ▲ 30.2%
Equity and liabilities
Equity-€664,525
Debt€698,442
Equity is negative. Debt (€698,442) exceeds the balance-sheet total (€33,916).
Key figures and ratios
EBITDA
€9,727▲
2024 · -€50,817
Cash flow
€9,516▲
2024 · -€51,153
Interest coverage
over 100▲
2024 · -265.15
Debt ≤ 1 year
€698,430▼
2024 · €722,402
Income taxes
€146▲
2024 · €144
A ratio outside any meaningful range has been withheld (balance sheet total €33,916, equity -€664,525).
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2022 | 31-12-2023 |
|---|---|---|
| Employees at the balance-sheet date | 2 | - |
| full-time | 1 | - |
| part-time | 1 | - |
| in full-time equivalents | 1.5 | - |
| Average over the year, in full-time equivalents | 1 | 0.8 |
| On a permanent contract | 2 | - |
| Joined | 3 | 0 |
| Left | 1 | 2 |
Source: social balance sheet in the 2022 to 2023 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €155,944 | €9,306 | €46,759 | - |
| Financial fixed assets | - | €5,000 | - | €500 | - |
| Depreciation and write-downs of the year | - | €31,436 | €52,219 | €53,497 | €23,727 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | - | €40,761 | €43,191 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | - | €31,436 | €52,219 | €53,497 | €23,727 | ▼ 55.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | - | -€450,000 | - | - |
| Other operating charges640/8 | - | - | - | - | €1,135 | €437 | €450,344 | €14,932 | ▼ 96.7% |
| Non-recurring operating charges66A | - | - | - | - | - | - | €13,280 | - | - |
| Gross operating margin9900 | -€53 | - | -€10,025 | -€1,568 | -€2,168 | -€59,648 | -€37,192 | €24,659 | - |
| Operating profit (loss)9901 | -€53 | -€225,000 | -€10,025 | -€1,568 | -€75,500 | -€155,495 | -€104,314 | -€14,000 | ▲ 86.6% |
| Financial income75/76B | - | - | - | - | - | €0 | €0 | - | - |
| Recurring financial income75 | - | - | - | - | - | €0 | €0 | - | - |
| Financial charges65/66B | - | - | - | €45 | €1,409 | €310 | €192 | €65 | ▼ 66.1% |
| Recurring financial charges65 | €39 | €134 | €42 | €45 | €1,409 | €310 | €192 | €65 | ▼ 66.1% |
| Profit (loss) for the period before taxes9903 | -€92 | -€225,134 | -€10,067 | -€1,613 | -€76,909 | -€155,805 | -€104,506 | -€14,065 | ▲ 86.5% |
| Income taxes67/77 | - | - | - | - | €91 | €164 | €144 | €146 | ▲ 1.0% |
| Profit (loss) for the period9904 | -€92 | -€225,134 | -€10,067 | -€1,613 | -€77,000 | -€155,969 | -€104,650 | -€14,210 | ▲ 86.4% |
| Profit (loss) for the period to be appropriated9905 | -€92 | -€225,134 | -€10,067 | -€1,613 | -€77,000 | -€155,969 | -€104,650 | -€14,210 | ▲ 86.4% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €226,335 | €12 | €137 | €848 | €173,161 | €109,573 | €72,099 | €33,916 | ▼ 53.0% |
| Fixed assets21/28 | - | - | - | - | €129,508 | €86,595 | €57,344 | €14,712 | ▼ 74.3% |
| Tangible fixed assets22/27 | - | - | - | - | €124,508 | €81,595 | €56,844 | €14,212 | ▼ 75.0% |
| Plant, machinery and equipment23 | - | - | - | - | €87,418 | €58,694 | €42,930 | €10,846 | ▼ 74.7% |
| Furniture and vehicles24 | - | - | - | - | €31,367 | €18,291 | €6,758 | - | - |
| Other tangible fixed assets26 | - | - | - | - | €5,724 | €4,610 | €7,156 | €3,366 | ▼ 53.0% |
| Financial fixed assets28 | - | - | - | - | €5,000 | €5,000 | €500 | €500 | = |
| Current assets29/58 | €226,335 | €12 | €137 | €848 | €43,653 | €22,978 | €14,754 | €19,204 | ▲ 30.2% |
| Amounts receivable within one year40/41 | €1,240 | - | - | €347 | €28,325 | €13,813 | €10,662 | €13,418 | ▲ 25.8% |
| Trade receivables40 | - | - | - | €347 | €27,488 | €7,536 | €10,662 | €13,418 | ▲ 25.8% |
| Other amounts receivable41 | - | - | - | - | €837 | €6,277 | - | - | - |
| Cash at bank and in hand54/58 | €95 | €12 | €137 | €501 | €8,264 | €5,769 | €453 | €3,841 | ▲ 749% |
| Deferred charges and accrued income490/1 | - | - | - | - | €7,064 | €3,396 | €3,640 | €1,946 | ▼ 46.5% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €226,335 | €12 | €137 | €848 | €173,161 | €109,573 | €72,099 | €33,916 | ▼ 53.0% |
| Equity10/15 | -€75,882 | -€301,015 | -€311,082 | -€312,696 | -€389,696 | -€545,665 | -€650,315 | -€664,525 | ▼ 2.2% |
| Contributions10/11 | €86,763 | €86,763 | €86,763 | €86,763 | €86,763 | €86,763 | €86,763 | €86,763 | = |
| Capital10 | - | - | - | €86,763 | €86,763 | €86,763 | €86,763 | €86,763 | = |
| Issued capital100 | - | - | - | €86,763 | €86,763 | €86,763 | €86,763 | €86,763 | = |
| Profit (loss) carried forward14 | -€162,644 | -€387,778 | -€397,845 | -€399,458 | -€476,459 | -€632,428 | -€737,078 | -€751,288 | ▼ 1.9% |
| Amounts payable17/49 | €302,217 | €301,027 | €311,219 | €313,544 | €562,857 | €655,238 | €722,413 | €698,442 | ▼ 3.3% |
| Amounts payable within one year42/48 | €1,237 | €301,027 | €311,219 | €313,544 | €562,600 | €655,238 | €722,402 | €698,430 | ▼ 3.3% |
| Trade debts44 | €1,237 | €1,237 | €675 | - | €9,025 | €4,209 | €7,289 | €14,193 | ▲ 94.7% |
| Suppliers440/4 | - | - | - | - | €9,025 | €4,209 | €7,289 | €14,193 | ▲ 94.7% |
| Taxes, remuneration and social security45 | - | - | - | - | €18,627 | €2,323 | €2,267 | €5,355 | ▲ 136% |
| Taxes450/3 | - | - | - | - | €2,940 | €1,178 | €2,267 | €5,355 | ▲ 136% |
| Remuneration and social security454/9 | - | - | - | - | €15,687 | €1,145 | - | - | - |
| Other amounts payable47/48 | - | - | - | €313,544 | €534,948 | €648,706 | €712,846 | €678,882 | ▼ 4.8% |
| Accrued charges and deferred income492/3 | - | - | - | - | €257 | - | €11 | €11 | = |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€92 | -€225,134 | -€10,067 | -€1,613 | -€77,000 | -€155,969 | -€104,650 | -€14,210 | ▲ 86.4% |
| + Depreciation and write-downs630 | - | - | - | - | €31,436 | €52,219 | €53,497 | €23,727 | ▼ 55.6% |
| Operating cash flow (approximation) | -€92 | -€225,134 | -€10,067 | -€1,613 | -€45,564 | -€103,751 | -€51,153 | €9,516 | - |
| Investment in fixed assets (approximation) | - | - | - | - | - | -€9,306 | -€24,246 | €18,905 | - |
| Change in cash | - | -€83 | €125 | €364 | €7,763 | -€2,495 | -€5,317 | €3,388 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 6,619 companies had the same profile as Pyrie has now. Two years later, 84.5% were still going and 4.5% had gone bankrupt.
- Micro
- 20 years or older
- negative equity
- a loss of 10% of the balance sheet or more
84.5%
was still going
10.0%
stopped otherwise
4.5%
went bankrupt
Another 1.0% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Pyrie itself: 1.0% 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.
| 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 6,619 companies, not a prediction for Pyrie. 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 27 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 12-10-2026 | 2026-00554094 | |
| 31-12-2024 | micro format | 26-09-2025 | 2025-00511119 | |
| 31-12-2023 | micro format | 03-12-2024 | 2024-00610514 | |
| 31-12-2022 | micro format | 01-09-2023 | 2023-00433387 | |
| 31-12-2021 | micro format | 29-08-2022 | 2022-20378410 | |
| 31-12-2020 | micro format | 29-09-2021 | 2021-69500220 | |
| 31-12-2019 | micro format | 29-09-2021 | 2021-69400504 | |
| 31-12-2018 | micro format | 23-06-2019 | 2019-22800446 | |
| 31-12-2017 | micro format | 13-08-2018 | 2018-45200429 | |
| 31-12-2016 | micro format | 30-08-2017 | 2017-54400080 |