Solar Pi

Active

Private limited companyfounded 201313 yrs activeNoordstraat 59, 1000 Brussel, BelgiumKBO/BCE: BE 0535.751.883

Solar Pi has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-3k) and a net result of €58k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 5% of 16511 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).

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Checked score

Score 2025

59 / 100

Fair

The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Negative equity caps the score. Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability100▲+40

Solvency23▼-13

Growth78=

Track record100

Bankruptcy probability, 12 months

0.2% Very low

0%0.5%1.5%4%10%≥ 25%

No credit on open account

Liquidity short (current ratio 0.66 against 0.26 in 2024; short-term debt: 27.1% and cash: 14.8% of total assets), and equity is negative.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Eight signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Lower-failure-rate sector

In this sector companies fail less often than the Belgian average.

Gazette · bankruptcies per sector, NACE 86

Relative position

BE, all sectors

reference

Sector 86

lower

← fewer bankruptcies more bankruptcies →

Higher-failure-rate region

In this region companies fail more often than in the rest of the country.

KBO · registered office

Annual accounts: weaker financial profile

The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.

NBB · annual accounts 2025

Solvency, return and age of the figures

Solvency

-1.6%

Return on assets

29.3%

Age of the figures

15 mo

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

Weak solvency vs sector

Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 16511 sector peers (2025).

NBB · sector comparison

Position among 16511 sector peers

Solvency

better than 5%

← weakest strongest →

Filed after the deadline

The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 16-02-2026, 16 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.

NBB · 10 filings

Deviation from the deadline

2025

16 d late

2024

43 d early

2023

1 d early

2022

7 d late

2021

7 d early

2020

109 d late

2019

13 d late

← before the deadline after the deadline →

The next deadline is still running

The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.

Companies Code · seven months

Position in the running window

30-06-2026 close20-09-2026 today31-01-2027 deadline

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2025, micro schema

Turnover

Not included in this filing

EBIT margin

Not included in this filing

Net result

€58k▲ 1,356,373%

2024 · €4

2019: €-7k 2020: €-28k 2021: €-30k 2022: €-3k 2023: €4k 2024: €4

2019 → 2025

Working capital

€-18k▲ 48.1%

2024 · €-36k

2019: €-5k 2020: €-699 2021: €-15k 2022: €-28k 2023: €-31k 2024: €-36k

2019 → 2025

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20212022202320242025Trend

Equity€-62k-€25k€29k▲ 14.6%€29k=€-3k

Operating result€-18k-€6k€11k▲ 91.9%€7k▼ 39.9%€64k▲ 833%

Net result€-30k-€-3k▲ 91.1%€4k€4▼ 99.9%€58k▲ 1,356,373%

Result per fiscal year

Operating resultNet result

The operating result recovers in 2025; 2025 is 833% above 2024 and is the highest result in the available series.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €198k

82.2%

17.8%

Fixed assets €162k▼ 35.0%

Current assets €35k▲ 176%

Key figures and ratios

2025 value · change against 2024

EBITDA

€76k▲

2024 · €33k

Cash flow

€70k▲

2024 · €27k

Solvency

-1.6%▼

2024 · 11.0%

Current ratio

0.66▲

2024 · 0.26

Quick ratio

0.65▲

2024 · 0.25

Debt / equity

-64.70▼

2024 · 8.06

ROA

29.3%▲

2024 · 0.0%

Interest coverage

12.60▲

2024 · 4.89

Debt

€201k▼

2024 · €234k

Debt ≤ 1 year

€54k▲

2024 · €48k

Debt > 1 year

€145k▼

2024 · €182k

Staff costs

€43k▲

2024 · €42k

Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.

Filed annual accounts

As filed with the NBB · 2025 against 2024

Balance sheet Code20242025

Assets

Total assets20/58€263k€198k▼

Fixed assets21/28€250k€162k▼

Intangible fixed assets21€0-

Tangible fixed assets22/27€250k€162k▼

Land and buildings22€248k€158k▼

Plant, machinery and equipment23€1k€4k▲

Financial fixed assets28€50€50=

Current assets29/58€13k€35k▲

Stocks and contracts in progress3€540€540=

Stocks30/36€540€540=

Amounts receivable within one year40/41€3k€759▼

Trade receivables40€3k€759▼

Cash at bank and in hand54/58€8k€29k▲

Deferred charges and accrued income490/1€2k€5k▲

Equity and liabilities

Total equity and liabilities10/49€263k€198k▼

Equity10/15€29k€-3k▼

Contributions10/11€40k€40k=

Revaluation surpluses12€90k-

Profit (loss) carried forward14€-101k€-43k▲

Amounts payable17/49€234k€201k▼

Amounts payable after more than one year17€182k€145k▼

Financial debts170/4€182k€145k▼

Amounts payable within one year42/48€48k€54k▲

Current portion of amounts payable after more than one year42€35k€36k▲

Trade debts44€1k€5k▲

Suppliers440/4€1k€5k▲

Taxes, remuneration and social security45€9k€6k▼

Taxes450/3€136-

Remuneration and social security454/9€9k€6k▼

Other amounts payable47/48€4k€7k▲

Accrued charges and deferred income492/3€3k€2k▼

Income statement Code20242025

Non-recurring operating income76A-€52k

Remuneration, social security and pensions62€42k€43k▲

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€27k€12k▼

Other operating charges640/8€3k€3k▲

Gross operating margin9900€78k€121k▲

Operating profit (loss)9901€7k€64k▲

Financial income75/76B€2€65▲

Recurring financial income75€2€65▲

Financial charges65/66B€7k€6k▼

Recurring financial charges65€7k€6k▼

Profit (loss) for the period before taxes9903€4€58k▲

Profit (loss) for the period9904€4€58k▲

Profit (loss) for the period to be appropriated9905€4€58k▲

Appropriation of the result

Profit (loss) to be appropriated9906€-101k€-43k▲

Profit (loss) brought forward from the previous period14P€-101k€-101k=

The notes to these accounts (13 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 13Financial 3Filings 10

Next filing, fiscal year 2026, expected by 31-01-2027

2026

16-02

NBB filing Annual accounts filed

fiscal year 2025 · micro schema · 16 days late

2025

30-06

Financial Highest result since 2019net €58k ▲1356373%

Operating result €64k, net result €58k, both a record.

2024

19-12

NBB filing Annual accounts filed

fiscal year 2024 · micro schema

30-01

NBB filing Annual accounts filed

fiscal year 2023 · micro schema

2023

30-06

Financial Back to profitnet €4k

Net result €4k after 4 loss-making years.

07-02

NBB filing Annual accounts filed

fiscal year 2022 · micro schema · 7 days late

2022

24-01

NBB filing Annual accounts filed

fiscal year 2021 · micro schema

2021

30-06

Financial Weakest financial yearnet €-30k

Net result drops to €-30k, the lowest in the series; recovery starts the following year.

20-05

NBB filing Annual accounts filed

fiscal year 2020 · full schema · 109 days late

2020

13-02

NBB filing Annual accounts filed

fiscal year 2019 · full schema · 13 days late

03-02

NBB filing Annual accounts filed

fiscal year 2018 · full schema · 368 days late

2018

31-01

NBB filing Annual accounts filed

fiscal year 2017 · full schema

2017

25-01

NBB filing Annual accounts filed

fiscal year 2016 · full schema

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

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, Brussel · 1 establishment unit since 2013

establishment The establishment unit on the map

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Noordstraat 591000 Brussel

Ground area

1,374 m²

Building footprint

682 m²

Volume, LiDAR

7,494 m³

2 parcels, Brussels · tallest building 19.6 m, ±6 floors. Linked by address, not a title deed.

1 establishment unit

Solar Pi

Lievevrouwbroersstraat 14, 1000 BrusselRenting and operating of own or leased residential real estate, excluding social housing

since 20132.224.045.001

2 parcels

Brussels 2 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
21803C0360/00F000 ProtectedMonumentHuizen rond het BarricadenpleinSource ↗	Brussels	1,208 m²	1 · 532 m²	17.5 m · 2 fl.
21004A0217/00B000 ProtectedMonumentHuis de Roest d'AlkemadeSource ↗	Brussels	166 m²	1 · 149 m²	19.6 m · 6 fl.