PIC EFIMO

Active

Public limited companyfounded 20233 yrs activeRue de la Besace, Our 14, 6852 Paliseul, BelgiumKBO/BCE: BE 0803.395.372

Summary

PIC EFIMO has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €10.65M and a net result of €1.42M. Equity is growing by ~54.8% per year across the filed fiscal years. Its solvency ranks better than 48% of 4556 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).

Risk analysis Watch Report Compare

PIC EFIMOActiveChecked score 70/100

Risk analysis Report Compare

Checked score

Score 2025

70 / 100

Healthy

Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability75▼-25

Solvency61▼-2

Growth78=

Track record94

Bankruptcy probability, 12 months

0.5% Low

0%0.5%1.5%4%10%≥ 25%

Credit up to €700k at 30 days acceptable

Liquidity ample (current ratio 17.95 against 2.29 in 2024; short-term debt: 3.5% and cash: 7.8% of total assets), but 63.7% of the assets are financed with debt.

Credit check for your own amount and term

Signals

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

−lowers risk+raises risk○neutral

Limited track record

This company has not been active as long as an established one and statistically fails somewhat more often.

KBO · incorporation date

Age against the risk zone

Lower-failure-rate sector

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

Gazette · bankruptcies per sector, NACE 68

Relative position

BE, all sectors

reference

Real estate activities (NACE 68)

about 43% fewer bankruptcies

← fewer bankruptcies more bankruptcies →

Annual accounts: healthy financial profile

The latest annual accounts show a healthy profile in solvency, result and liquidity.

NBB · annual accounts 2025

Solvency, return and age of the figures

Solvency

36.3%

Return on assets

4.8%

Age of the figures

9 mo

Lower-risk legal form

Companies with this legal form statistically fail less often than a BV.

KBO · legal form

Higher-failure-rate region

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

KBO · registered office

Filed after the deadline

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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 · 3 filings

Deviation from the deadline

2025

31 d late

2024

22 d early

2023

19 d early

← before the deadline after the deadline →

Checked, nothing found (2)

The next deadline is still running

The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.

Companies Code · seven months

Position in the running window

25-09-2026 today31-12-2026 close31-07-2027 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, full schema

Turnover

Not included in this filing

EBIT margin

Not included in this filing

Net result

€1.42M▼ 83.6%

2024 · €8.69M

2023: €-218klowest in 3 years 2024: €8.69M▲ +4088% vs 2023highest in 3 years 2025: €1.42M▼ -83.6% vs 2024

2023 → 2025

Working capital

€17.61M▲ 149%

2024 · €7.08M

2023: €2.57Mlowest in 3 years 2024: €7.08M▲ +175% vs 2023 2025: €17.61M▲ +149% vs 2024highest in 3 years

2023 → 2025

Trend over the years

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line202320242025Trend

Equity€537k-€9.23M▲ 1,617%€10.65M▲ 15.4% 2023: €537klowest in 3 years 2024: €9.23M▲ +1617% vs 2023 2025: €10.65M▲ +15.4% vs 2024highest in 3 years

Operating result€584k-€12.27M▲ 2,002%€2.09M▼ 83.0% 2023: €584klowest in 3 years 2024: €12.27M▲ +2002% vs 2023highest in 3 years 2025: €2.09M▼ -83.0% vs 2024

Net result€-218k-€8.69M€1.42M▼ 83.6% 2023: €-218klowest in 3 years 2024: €8.69M▲ +4088% vs 2023highest in 3 years 2025: €1.42M▼ -83.6% vs 2024

Result per fiscal year

Operating resultNet result

The operating result falls in 2025; 2025 is 83% below 2024.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €29.36M

36.5%

63.5%

Fixed assets €10.72M ▼ 6.3%

Current assets €18.65M ▲ 48.4%

Equity and liabilities €29.37M

36.3%

63.7%

Equity €10.65M ▲ 15.4%

Debt €18.72M ▲ 26.6%

Debt's share of the balance-sheet total rises from 61.6% to 63.7%. Equity and debt are higher.

Key figures and ratios

2025 value · change against 2024

EBITDA

€2.66M▼

2024 · €12.79M

Cash flow

€1.99M▼

2024 · €9.21M

Current ratio

17.95▲

2024 · 2.29

Quick ratio

9.10▲

2024 · 2.24

Debt to equity

1.76▲

2024 · 1.60

ROE

13.4%▼

2024 · 94.2%

ROA

4.8%▼

2024 · 36.2%

Interest coverage

9.25▼

2024 · 14.49

Debt ≤ 1 year

€1.04M▼

2024 · €5.49M

Debt > 1 year

€17.58M▲

2024 · €9.25M

Income taxes

€367k▼

2024 · €2.73M

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

As filed By statement

Filed annual accounts As filed with the NBB · 2025 against 2024 · 64 lines

Balance sheet Code20242025

Assets

Total assets20/58€24.01M€29.37M▲

Formation expenses20€7k€5k▼

Fixed assets21/28€11.44M€10.72M▼

Tangible fixed assets22/27€10.30M€9.70M▼

Land and buildings22€10.03M€9.47M▼

Plant, machinery and equipment23€18k€16k▼

Leasing and similar rights25€160k€126k▼

Other tangible fixed assets26€76k€76k=

Assets under construction and advance payments27€14k€17k▲

Financial fixed assets28€1.14M€1.01M▼

Current assets29/58€12.56M€18.65M▲

Amounts receivable after more than one year29€1.83M€1.67M▼

Trade receivables290€1.83M€1.67M▼

Stocks and contracts in progress3€252k€9.19M▲

Stocks30/36€252k€9.19M▲

Amounts receivable within one year40/41€4.61M€5.36M▲

Trade receivables40€366k€486k▲

Other amounts receivable41€4.25M€4.87M▲

Cash at bank and in hand54/58€5.86M€2.29M▼

Deferred charges and accrued income490/1€8k€143k▲

Equity and liabilities

Total equity and liabilities10/49€24.01M€29.37M▲

Equity10/15€9.23M€10.65M▲

Contributions10/11€749k€749k=

Capital10€749k€749k=

Issued capital100€749k€749k=

Reserves13€75k€1.07M▲

Non-distributable reserves130/1€75k€75k=

Legal reserve130€75k€75k=

Tax-exempt reserves132-€998k

Profit (loss) carried forward14€8.40M€8.83M▲

Amounts payable17/49€14.78M€18.72M▲

Amounts payable after more than one year17€9.25M€17.58M▲

Financial debts170/4€8.25M€16.58M▲

Other amounts payable178/9€1.00M€1.00M=

Amounts payable within one year42/48€5.49M€1.04M▼

Current portion of amounts payable after more than one year42€467k€467k=

Trade debts44€351k€404k▲

Suppliers440/4€351k€404k▲

Advances received on contracts in progress46€36k€17k▼

Taxes, remuneration and social security45€4.55M€63k▼

Taxes450/3€4.55M€63k▼

Other amounts payable47/48€82k€88k▲

Accrued charges and deferred income492/3€46k€93k▲

Income statement Code20242025

Non-recurring operating income76A€12.28M€1.30M▼

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€518k€566k▲

Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€15k€11k▼

Other operating charges640/8€216k€161k▼

Non-recurring operating charges66A-€98k

Gross operating margin9900€13.02M€2.93M▼

Operating profit (loss)9901€12.27M€2.09M▼

Financial income75/76B€34k€134k▲

Recurring financial income75€34k€134k▲

Financial charges65/66B€882k€434k▼

Recurring financial charges65€882k€287k▼

Non-recurring financial charges66B€38€147k▲

Profit (loss) for the period before taxes9903€11.42M€1.79M▼

Income taxes67/77€2.73M€367k▼

Profit (loss) for the period9904€8.69M€1.42M▼

Transfer to tax-exempt reserves689-€998k

Profit (loss) for the period to be appropriated9905€8.69M€426k▼

Appropriation of the result

Profit (loss) to be appropriated9906€8.47M€8.83M▲

Profit (loss) brought forward from the previous period14P€-218k€8.40M▲

Transfer to equity691/2€69k-

To the legal reserve6920€69k-

The notes to these accounts (20 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Accounts by statement

Income statement Balance sheet Cash flow

Line	2023	2024	2025	Change
Non-recurring operating income76A	€433k	€12.28M	€1.30M	▼ 89.4%
Remuneration, social security and pensions62	€318	-	-	-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630	€1.13M	€518k	€566k	▲ 9.3%
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4	€689	€15k	€11k	▼ 26.9%
Other operating charges640/8	€139k	€216k	€161k	▼ 25.4%
Non-recurring operating charges66A	€169k	-	€98k	-
Gross operating margin9900	€2.02M	€13.02M	€2.93M	▼ 77.5%
Operating profit (loss)9901	€584k	€12.27M	€2.09M	▼ 83.0%
Financial income75/76B	€95k	€34k	€134k	▲ 293%
Recurring financial income75	€95k	€34k	€134k	▲ 293%
Financial charges65/66B	€854k	€882k	€434k	▼ 50.9%
Recurring financial charges65	€854k	€882k	€287k	▼ 67.5%
Non-recurring financial charges66B	-	€38	€147k	▲ 390,567%
Profit (loss) for the period before taxes9903	€-175k	€11.42M	€1.79M	▼ 84.3%
Income taxes67/77	€43k	€2.73M	€367k	▼ 86.6%
Profit (loss) for the period9904	€-218k	€8.69M	€1.42M	▼ 83.6%
Transfer to tax-exempt reserves689	-	-	€998k	-
Profit (loss) for the period to be appropriated9905	€-218k	€8.69M	€426k	▼ 95.1%

Line	2023	2024	2025	Change
Assets
Total assets20/58	€27.39M	€24.01M	€29.37M	▲ 22.3%
Formation expenses20	€9k	€7k	€5k	▼ 28.7%
Fixed assets21/28	€22.47M	€11.44M	€10.72M	▼ 6.3%
Intangible fixed assets21	€0	-	-	-
Tangible fixed assets22/27	€19.06M	€10.30M	€9.70M	▼ 5.8%
Land and buildings22	€18.76M	€10.03M	€9.47M	▼ 5.6%
Plant, machinery and equipment23	€19k	€18k	€16k	▼ 11.1%
Leasing and similar rights25	€194k	€160k	€126k	▼ 21.3%
Other tangible fixed assets26	€76k	€76k	€76k	=
Assets under construction and advance payments27	€13k	€14k	€17k	▲ 28.7%
Financial fixed assets28	€3.41M	€1.14M	€1.01M	▼ 11.1%
Current assets29/58	€4.92M	€12.56M	€18.65M	▲ 48.4%
Amounts receivable after more than one year29	€2.00M	€1.83M	€1.67M	▼ 8.8%
Trade receivables290	€2.00M	€1.83M	€1.67M	▼ 8.8%
Stocks and contracts in progress3	€252k	€252k	€9.19M	▲ 3,542%
Stocks30/36	€252k	€252k	€9.19M	▲ 3,542%
Amounts receivable within one year40/41	€573k	€4.61M	€5.36M	▲ 16.1%
Trade receivables40	€560k	€366k	€486k	▲ 32.7%
Other amounts receivable41	€13k	€4.25M	€4.87M	▲ 14.6%
Cash at bank and in hand54/58	€1.67M	€5.86M	€2.29M	▼ 61.0%
Deferred charges and accrued income490/1	€431k	€8k	€143k	▲ 1,623%
Equity and liabilities
Total equity and liabilities10/49	€27.39M	€24.01M	€29.37M	▲ 22.3%
Equity10/15	€537k	€9.23M	€10.65M	▲ 15.4%
Contributions10/11	€749k	€749k	€749k	=
Capital10	€749k	€749k	€749k	=
Issued capital100	€749k	€749k	€749k	=
Reserves13	€6k	€75k	€1.07M	▲ 1,332%
Non-distributable reserves130/1	€6k	€75k	€75k	=
Legal reserve130	€6k	€75k	€75k	=
Tax-exempt reserves132	-	-	€998k	-
Profit (loss) carried forward14	€-218k	€8.40M	€8.83M	▲ 5.1%
Amounts payable17/49	€26.86M	€14.78M	€18.72M	▲ 26.6%
Amounts payable after more than one year17	€24.32M	€9.25M	€17.58M	▲ 90.1%
Financial debts170/4	€15.32M	€8.25M	€16.58M	▲ 101%
Other amounts payable178/9	€9.00M	€1.00M	€1.00M	=
Amounts payable within one year42/48	€2.34M	€5.49M	€1.04M	▼ 81.1%
Current portion of amounts payable after more than one year42	€467k	€467k	€467k	=
Trade debts44	€102k	€351k	€404k	▲ 15.2%
Suppliers440/4	€102k	€351k	€404k	▲ 15.2%
Advances received on contracts in progress46	€27k	€36k	€17k	▼ 51.7%
Taxes, remuneration and social security45	€28k	€4.55M	€63k	▼ 98.6%
Taxes450/3	€28k	€4.55M	€63k	▼ 98.6%
Other amounts payable47/48	€1.72M	€82k	€88k	▲ 6.8%
Accrued charges and deferred income492/3	€191k	€46k	€93k	▲ 104%

Line	2023	2024	2025	Change
Profit (loss) for the period9904	€-218k	€8.69M	€1.42M	▼ 83.6%
+ Depreciation and write-downs630	€1.13M	€518k	€566k	▲ 9.3%
Operating cash flow (approximation)	€913k	€9.21M	€1.99M	▼ 78.4%
Investment in fixed assets (approximation)	-	€10.51M	€155k	▼ 98.5%
Change in cash	-	€4.19M	€-3.57M	▼ 185%

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

All 7Financial 4Filings 3

Next filing, fiscal year 2026, expected by 31-07-2027

2026

31-08

NBB filing Annual accounts filed

fiscal year 2025 · full schema · 31 days late

2025

31-12

Financial Liquidity times 8current ratio 17.95

Current ratio from 2.29 to 17.95; short-term debt falls from €5.49M to €1.04M.

31-12

Financial Equity above €10MEq €10.65M ▲15.4%

2 profitable years in a row build equity to €10.65M.

09-07

NBB filing Annual accounts filed

fiscal year 2024 · full schema

2024

31-12

Financial Back to profitnet €8.69M

Net result €8.69M after one loss-making year.

31-12

Financial Equity above €5MEq €9.23M ▲1,617%

Equity rises from €537k to €9.23M.

12-07

NBB filing Annual accounts filed

fiscal year 2023 · full schema

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

0 of 3 acts read

About the unread acts

We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.

Have them read with priority Sign in to place this company at the front of the reading queue.

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, Paliseul · 1 establishment unit since 2023

seat establishment The establishment unit on the map

Ground area

7,070 m²

Building footprint

397 m²

Volume, LiDAR

2,367 m³

Parcel 84048A0054/00P000, Wallonia · tallest building 9.4 m, ±2 floors. Linked by address, not a title deed.

1 establishment unit

Pic Efimo sa

Rue de la Besace, Our 14, 6852 PaliseulReal estate activities

since 20232.348.069.595

1 parcel

Wallonia 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
84048A0054/00P000	Wallonia	7,070 m²	1 · 397 m²	9.4 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.

Similar companies · same sector, comparable size

Oostende · Eq €10.56M

KORYS REAL ESTATE

BE 0885.969.888

Halle · Eq €10.75M

Of 9,136 companies in sector 68201 we hold annual accounts for 6,765. 2,109 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector

Identification & contact

Identification

Legal formPublic limited company

Founded30-06-2023

Fiscal year end31-12

Activities, NACEBEL 2025

68201Renting and operating of own or leased residential real estate, excluding social housing

68110Buying and selling of own real estate

68203Renting and operating of own or leased non-residential real estate, excluding land

68204Real estate activities

71121Engineering and related technical consultancy, excluding land surveyors

74999Other professional, scientific and technical activities

Contact

E-mail compta-tp-holding@thomas-piron.eu

Phone +3281232612

Scores and ratios are computed by Checked and are not a credit decision.