Summary
PIPA ELITE BREEDING has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €1.45M and a net result of €596k. Equity is growing by ~65.8% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
No current score
Figures too old
The available figures for FY 2024 are too old to assess current financial health.
Axes, FY 2024 · tick = 2023
Profitability100=
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit check for your own amount and term
Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 01
Relative position
BE, all sectors
reference
Crop and animal production, hunting and related service activities (NACE 01)
about 70% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
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 · 7 filingsDeviation from the deadline
2025
1 d early
2024
29 d early
2023
1 d early
2022
on the day
2021
1 d late
2020
1 d late
2019
4 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · 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 monthsPosition in the running window
30-06-2026 close25-09-2026 today31-01-2027 deadline
Financials · fiscal year 2024, abbreviated schema
Equity
€1.45M▲ 29.1%
2023 · €1.12M
2019: €145klowest in 6 years
2020: €228k▲ +57.7% vs 2019
2021: €202k▼ -11.3% vs 2020
2022: €659k▲ +225% vs 2021
2023: €1.12M▲ +70.4% vs 2022
2024: €1.45M▲ +29.1% vs 2023highest in 6 years
2019 → 2024
Total assets
€1.77M▲ 30.3%
2023 · €1.36M
2019: €233klowest in 6 years
2020: €313k▲ +33.9% vs 2019
2021: €507k▲ +62.1% vs 2020
2022: €892k▲ +76.0% vs 2021
2023: €1.36M▲ +52.1% vs 2022
2024: €1.77M▲ +30.3% vs 2023highest in 6 years
2019 → 2024
Net result
€596k▼ 11.8%
2023 · €676k
2019: €47klowest in 6 years
2020: €92k▲ +96.0% vs 2019
2021: €216k▲ +136% vs 2020
2022: €644k▲ +198% vs 2021
2023: €676k▲ +5.0% vs 2022highest in 6 years
2024: €596k▼ -11.8% vs 2023
2019 → 2024
Working capital
€830k▲ 34.3%
2023 · €618k
2019: €83k
2020: €101k▲ +21.8% vs 2019
2021: €42k▼ -58.6% vs 2020lowest in 6 years
2022: €364k▲ +775% vs 2021
2023: €618k▲ +69.9% vs 2022
2024: €830k▲ +34.3% vs 2023highest in 6 years
2019 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€228k-€202k▼ 11.3%€659k▲ 225%€1.12M▲ 70.4%€1.45M▲ 29.1%
2020: €228k
2021: €202k▼ -11.3% vs 2020lowest in 5 years
2022: €659k▲ +225% vs 2021
2023: €1.12M▲ +70.4% vs 2022
2024: €1.45M▲ +29.1% vs 2023highest in 5 years
Operating result€134k-€291k▲ 118%€862k▲ 196%€905k▲ 5.0%€789k▼ 12.8%
2020: €134klowest in 5 years
2021: €291k▲ +118% vs 2020
2022: €862k▲ +196% vs 2021
2023: €905k▲ +5.0% vs 2022highest in 5 years
2024: €789k▼ -12.8% vs 2023
Net result€92k-€216k▲ 136%€644k▲ 198%€676k▲ 5.0%€596k▼ 11.8%
2020: €92klowest in 5 years
2021: €216k▲ +136% vs 2020
2022: €644k▲ +198% vs 2021
2023: €676k▲ +5.0% vs 2022highest in 5 years
2024: €596k▼ -11.8% vs 2023
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 13% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.77M
Fixed assets
€619k ▲ 22.3%
Current assets
€1.15M ▲ 35.2%
Equity and liabilities €1.77M
Equity
€1.45M ▲ 29.1%
Debt
€319k ▲ 36.5%
Debt's share of the balance-sheet total rises from 17.2% to 18.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€1.11M▲
2023 · €1.10M
Cash flow
€920k▲
2023 · €876k
Current ratio
3.60▼
2023 · 3.66
Quick ratio
2.75▼
2023 · 2.85
Debt to equity
0.22▲
2023 · 0.21
ROE
41.2%▼
2023 · 60.2%
ROA
33.7%▼
2023 · 49.8%
Interest coverage
1380.33▼
2023 · 1538.33
Debt ≤ 1 year
€319k▲
2023 · €232k
Income taxes
€202k▼
2023 · €229k
Staff costs
€64k▲
2023 · €57k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 50 lines
Balance sheet
Code20232024
Assets
Total assets20/58€1.36M€1.77M▲
Fixed assets21/28€506k€619k▲
Tangible fixed assets22/27€506k€619k▲
Plant, machinery and equipment23€478k€593k▲
Furniture and vehicles24€21k€15k▼
Other tangible fixed assets26€8k€10k▲
Current assets29/58€851k€1.15M▲
Stocks and contracts in progress3€190k€272k▲
Stocks30/36€190k€272k▲
Amounts receivable within one year40/41€215k€225k▲
Trade receivables40€199k€223k▲
Other amounts receivable41€16k€2k▼
Current investments50/53€250k€250k=
Cash at bank and in hand54/58€191k€397k▲
Deferred charges and accrued income490/1€5k€5k▼
Equity and liabilities
Total equity and liabilities10/49€1.36M€1.77M▲
Equity10/15€1.12M€1.45M▲
Contributions10/11€100k€100k=
Reserves13€1.02M€1.35M▲
Distributable reserves133€1.02M€1.35M▲
Profit (loss) carried forward14-€0
Amounts payable17/49€234k€319k▲
Amounts payable within one year42/48€232k€319k▲
Trade debts44€16k€45k▲
Suppliers440/4€16k€45k▲
Taxes, remuneration and social security45€4k€4k▼
Taxes450/3€476€260▼
Remuneration and social security454/9€4k€4k▼
Other amounts payable47/48€212k€270k▲
Accrued charges and deferred income492/3€2k€0▼
Income statement
Code20232024
Remuneration, social security and pensions62€57k€64k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€199k€323k▲
Other operating charges640/8€13k€8k▼
Gross operating margin9900€1.17M€1.18M▲
Operating profit (loss)9901€905k€789k▼
Financial income75/76B€1k€9k▲
Recurring financial income75€1k€9k▲
Financial charges65/66B€718€806▲
Recurring financial charges65€718€806▲
Profit (loss) for the period before taxes9903€905k€798k▼
Income taxes67/77€229k€202k▼
Profit (loss) for the period9904€676k€596k▼
Profit (loss) for the period to be appropriated9905€676k€596k▼
Appropriation of the result
Profit (loss) to be appropriated9906€676k€596k▼
Transfer to equity691/2€464k€326k▼
To other reserves6921€464k€326k▼
Profit to be distributed694/7€212k€270k▲
Return on contributions (dividend)694€200k€250k▲
Employees696€12k€20k▲
Social balance
Average headcount (FTE)90871.01.0=
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €55k | €57k | €64k | ▲ 12.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €77k | €104k | €126k | €199k | €323k | ▲ 62.1% |
| Other operating charges640/8 | - | - | €9k | €13k | €8k | ▼ 39.7% |
| Gross operating margin9900 | €263k | €463k | €1.05M | €1.17M | €1.18M | ▲ 0.9% |
| Operating profit (loss)9901 | €134k | €291k | €862k | €905k | €789k | ▼ 12.8% |
| Financial income75/76B | - | - | - | €1k | €9k | ▲ 753% |
| Recurring financial income75 | - | €18 | - | €1k | €9k | ▲ 753% |
| Financial charges65/66B | - | - | €2k | €718 | €806 | ▲ 12.3% |
| Recurring financial charges65 | €2k | €1k | €2k | €718 | €806 | ▲ 12.3% |
| Profit (loss) for the period before taxes9903 | €132k | €290k | €860k | €905k | €798k | ▼ 11.9% |
| Income taxes67/77 | €40k | €74k | €217k | €229k | €202k | ▼ 12.1% |
| Profit (loss) for the period9904 | €92k | €216k | €644k | €676k | €596k | ▼ 11.8% |
| Profit (loss) for the period to be appropriated9905 | €92k | €216k | €644k | €676k | €596k | ▼ 11.8% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €313k | €507k | €892k | €1.36M | €1.77M | ▲ 30.3% |
| Formation expenses20 | €5k | €3k | €2k | - | - | - |
| Fixed assets21/28 | €159k | €173k | €293k | €506k | €619k | ▲ 22.3% |
| Tangible fixed assets22/27 | €159k | €173k | €293k | €506k | €619k | ▲ 22.3% |
| Plant, machinery and equipment23 | - | - | €285k | €478k | €593k | ▲ 24.2% |
| Furniture and vehicles24 | - | - | - | €21k | €15k | ▼ 26.1% |
| Other tangible fixed assets26 | - | - | €9k | €8k | €10k | ▲ 34.8% |
| Current assets29/58 | €149k | €330k | €597k | €851k | €1.15M | ▲ 35.2% |
| Stocks and contracts in progress3 | €39k | €91k | €213k | €190k | €272k | ▲ 43.5% |
| Stocks30/36 | - | - | €213k | €190k | €272k | ▲ 43.5% |
| Amounts receivable within one year40/41 | €60k | €82k | €127k | €215k | €225k | ▲ 4.8% |
| Trade receivables40 | - | - | €126k | €199k | €223k | ▲ 12.2% |
| Other amounts receivable41 | - | - | €234 | €16k | €2k | ▼ 86.9% |
| Current investments50/53 | - | - | - | €250k | €250k | = |
| Cash at bank and in hand54/58 | €46k | €157k | €256k | €191k | €397k | ▲ 108% |
| Deferred charges and accrued income490/1 | - | - | €550 | €5k | €5k | ▼ 7.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €313k | €507k | €892k | €1.36M | €1.77M | ▲ 30.3% |
| Equity10/15 | €228k | €202k | €659k | €1.12M | €1.45M | ▲ 29.1% |
| Contributions10/11 | - | - | €100k | €100k | €100k | = |
| Reserves13 | €128k | €102k | €559k | €1.02M | €1.35M | ▲ 31.9% |
| Distributable reserves133 | - | - | €559k | €1.02M | €1.35M | ▲ 31.9% |
| Profit (loss) carried forward14 | - | - | - | - | €0 | - |
| Amounts payable17/49 | €84k | €304k | €233k | €234k | €319k | ▲ 36.5% |
| Amounts payable after more than one year17 | €36k | €16k | - | - | - | - |
| Amounts payable within one year42/48 | €48k | €289k | €233k | €232k | €319k | ▲ 37.5% |
| Current portion of amounts payable after more than one year42 | - | - | €16k | - | - | - |
| Trade debts44 | €5k | €12k | €9k | €16k | €45k | ▲ 190% |
| Suppliers440/4 | - | - | €9k | €16k | €45k | ▲ 190% |
| Taxes, remuneration and social security45 | - | - | €21k | €4k | €4k | ▼ 9.1% |
| Taxes450/3 | - | - | €18k | €476 | €260 | ▼ 45.5% |
| Remuneration and social security454/9 | - | - | €3k | €4k | €4k | ▼ 4.5% |
| Other amounts payable47/48 | - | - | €187k | €212k | €270k | ▲ 27.2% |
| Accrued charges and deferred income492/3 | - | - | - | €2k | €0 | ▼ 100% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €92k | €216k | €644k | €676k | €596k | ▼ 11.8% |
| + Depreciation and write-downs630 | €77k | €104k | €126k | €199k | €323k | ▲ 62.1% |
| Operating cash flow (approximation) | €168k | €320k | €770k | €876k | €920k | ▲ 5.1% |
| Investment in fixed assets (approximation) | - | €-119k | €-246k | €-412k | €-436k | ▼ 5.8% |
| Change in cash | - | €111k | €99k | €-65k | €207k | ▲ 417% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
27-03
State Gazette act
Resignations: Pipa Holding BV (director) and Thomas Gyselbrecht (director)Appointment: Pipa 2.0 BV (director) · Permanent representative: Philippe Huyzentruyt · Mandate compensation11 facts ▸
State Gazette act
Resignations: Pipa Holding BV (director) and Thomas Gyselbrecht (director)
Appointment: Pipa 2.0 BV (director) · Permanent representative: Philippe Huyzentruyt · Mandate compensation11 facts ▸
- General meeting, 27 febrauri 2026
- Director resignation, Pipa Holding BV (director)
- Director resignation, Thomas Gyselbrecht (director)
- Director appointment, Pipa 2.0 BV (director)
- Permanent representative, Philippe Huyzentruyt
- Mandate compensation, Pipa 2.0 BV
- Power of attorney, Four and Five Law BV
- Board meeting, 27 febrauri 2026
- Director resignation, Pipa Holding BV (managing director)
- Director resignation, Thomas Gyselbrecht (managing director)
- Power of attorney, Four and Five Law BV
30-01
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
02-01
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
30-01
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-06
Financial
Highest result since 2019net €676k ▲5%
Operating result €905k, net result €676k, both a record.
30-06
Financial
Equity above €1MEq €1.12M ▲70.4%
5 profitable years in a row build equity to €1.12M.
31-01
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
30-06
Financial
Liquidity doublescurrent ratio 2.56
Current ratio from 1.14 to 2.56; short-term debt falls from €289k to €233k.
30-06
Financial
Equity above €500kEq €659k ▲225%
4 profitable years in a row build equity to €659k.
01-02
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 1 day late
2021
01-02
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 1 day late
2020
30-06
Financial
Equity above €200kEq €228k ▲57.7%
2 profitable years in a row build equity to €228k.
27-01
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 6 acts read
About the unread acts
Of the 6 Belgian State Gazette acts we know for this company, 1 has been read. The other 5 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 director, last change in 2026
Pipa 2.0
CurrentDirector · since 27-03-2026 · Private limited company · perm. rep.: Philippe Huyzentruyt
27-03-2026
Pipa 2.0: Appointed as Director
27-03-2026
Pipa Holding BV: Resigned as Director
27-03-2026
Pipa Holding BV: Resigned as Managing director
27-03-2026
Thomas Gyselbrecht: Resigned as Director
27-03-2026
Thomas Gyselbrecht: Resigned as Managing director
Not every act has been read: a resignation may be missing here
5 of this company's 6 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Aalter · 1 establishment unit since 2018
Ground area
2,178 m²
Building footprint
236 m²
Volume, LiDAR
1,268 m³
Parcel 44029A0553/00G000, Flanders · tallest building 8.8 m, ±2 floors. Linked by address, not a title deed.
8
companies at this address
See who is registered here
1 establishment unit
Eentveldstraat 18, 9910 Aalter
since 20182.273.161.148
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44029A0553/00G000 | Flanders | 2,178 m² | 1 · 236 m² | 8.8 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Connections & network
2 connected companiesLinked via shared directors
Shared corporate director
→
Shared corporate director
→
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Of 1,704 companies in sector 01480 we hold annual accounts for 161. 63 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded22-02-2018
Fiscal year end30-06
Activities, NACEBEL 2025
01480Raising of other animals
Scores and ratios are computed by Checked and are not a credit decision.