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PICANOL

Active
Public limited companyfounded 1928active for 97 yearsSteverlyncklaan 15, 8900 Ieper, BelgiumKBO/BCE: BE 0405.502.362
Summary

PICANOL has been active since 1928 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €148.8m and a net result of €17.2m. Equity is growing by about 3.4% per year across the filed financial years. Its solvency ranks better than 86% of 383 sector peers (NACE 28, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).

Risk analysisFollow ReportCompare
PICANOLActiveChecked score 94/100
Risk analysis ReportCompare

Overview

Activity
Manufacture of machinery and equipment not elsewhere classified
NACE 28940
Largest employer in Ypres, Manufacturing sector1 site
Size
€300.9mturnover 2025
Staff
620.7 FTE
Equity
€148.8m
Profit
€17.2m
Financial health
94 Excellent Checked score 2025
Bankruptcy probabilitywithin 12 months
0.1%
Structure
Parent
Tessenderlo Group · 100%
Board
4 members
Holdings
15
Auditor: KPMG Bedrijfsrevisoren BV2025 accounts 60 days early5 of 33 deeds summarised
Why 94raises riskLiquidity: current ratio 1.72, cash €4.3m, halvedlowers riskSize: turnover €300.9m, 620.7 FTE, total assets €210.8mFounded in 1928Equity €148.8m (70.6% of total assets)Show the evidence

Checked score

Score 2025
94 / 100
Excellent
Probability in this band: under 0.55%
Financially better than 65% of its sector peers (all companies)
Every signal that counts is listed under Signals.
Financial strength · tick = 2024
Strong
Solvency 96+6
equity 70.6% of total assets
Liquidity 42=
short-term debt 27.0% · cash 2.1%
Profitability 66-1
return on assets 8.2%
Bankruptcy probability, 12 months
0.1% Very low
0%0.5%1.5%4%10%≥ 25%

About 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.3% (16 companies, NACE 28, large)
Last 24 months 11-2024: 0.1% 12-2024: 0.1%● unchanged vs 11-2024 01-2025: 0.1%● unchanged vs 12-2024 02-2025: 0.1%● unchanged vs 01-2025 03-2025: 0.1%● unchanged vs 02-2025 04-2025: 0.1%● unchanged vs 03-2025 05-2025: 0.1%● unchanged vs 04-2025 06-2025: 0.1%● unchanged vs 05-2025highest value 07-2025: 0.1%● unchanged vs 06-2025 08-2025: 0.1%● unchanged vs 07-2025 09-2025: 0.1%● unchanged vs 08-2025 10-2025: 0.1%● unchanged vs 09-2025 11-2025: 0.1%● unchanged vs 10-2025 12-2025: 0.1%● unchanged vs 11-2025 01-2026: 0.1%● unchanged vs 12-2025 02-2026: 0.1%● unchanged vs 01-2026 03-2026: 0.1%● unchanged vs 02-2026 04-2026: 0.1%● unchanged vs 03-2026lowest value 05-2026: 0.1%● unchanged vs 04-2026 06-2026: 0.1%● unchanged vs 05-2026 07-2026: 0.1%● unchanged vs 06-2026 08-2026: 0.1%● unchanged vs 07-2026 09-2026: 0.1%● unchanged vs 08-2026 10-2026: 0.1%● unchanged vs 09-2026
Credit of up to €13,950,000 on 30-day terms is acceptable
Liquidity ample (current ratio 1.72, compared with 1.57 in 2024, above the usual 1.5; short-term debt: 27% and cash: 2.1% of total assets), and 29.4% of the assets are financed with debt and provisions.
How it is calculated

The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:

75-100 Excellent under 0.55%
60-74 Healthy 0.55% to 1.5%
45-59 Fair 1.5% to 4.2%
25-44 Weak 4.2% to 15.0%
0-24 Critical over 15.0%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (all companies): better than 82% on solvency, 45% on liquidity, 56% on profitability and 76% on growth.

The bankruptcy probability was computed on 25-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Signals

Five signals.
lowers riskraises riskneutral
lowers risk · Size: turnover €300.9m, 620.7 FTE, total assets €210.8m
Companies of this size fail less often; how much that weighs depends on the rest of its profile.
NBB · annual accounts
raises risk · Liquidity: current ratio 1.72, cash €4.3m, halved
NBB · annual accounts
lowers risk · Founded in 1928
Companies that have existed this long fail less often; how much that weighs depends on the rest of its profile.
KBO
lowers risk · Equity €148.8m (70.6% of total assets)
NBB · annual accounts
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 01-06-2026, 60 days ahead of the deadline.
NBB · 7 filings
Deviation from the deadline
2025
60 days early
2024
58 days early
2023
69 days early
2022
76 days early
2021
74 days early
2020
67 days early
2019
37 days early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 7 accounts on average 63 days before the deadline; the sector median (NACE 28) for financial year 2024 is 11 days before the deadline, and 32% of those companies filed late.

Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 24 May (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Where today falls in the filing period
26-10-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
Searched since 2021.
KBO publications · our coverage
  1. Annual accounts filedfinancial year 2025 · full…
  2. Annual accounts filedfinancial year 2024 · full…
  3. Appointments: Geert Ostyn (gevolmachtigde van het…Resignations: Geert Ostyn (gevolmachtigde van…

Key points

  • Positive: Largest employer in Ypres, Manufacturing sectorin the Checked rankings No. 1 View
  • Result fell in 20252024 carried a one-off income of €253.5m ▼ 93.7% View
  • Controlled by Tessenderlo Groupultimately: OOSTIEP GROUP 100% View
  • Positive: 8 profitable years in a rowprofit 2025: €17.2m 8 years View
  • Flemish supportawarded from 2022 to 2025 €1.3m View
  • Active since 1928founded 22-11-1928 97 years View
  • Positive: Always filed on timeaccounts within the deadline every year 7 years View

By topic

Financials

Financial year
2025
Turnover
€300.9m
Profit
€17.2m
Solvency
70.6%
Turnover▲ 10.5%
Net result
20182025
Go to Financials

Board & ownership

Board
4 members
Parent
Tessenderlo Group · 100%
Auditor
KPMG Bedrijfsrevisoren BV
  • Catherine DefoorDirector
  • Johan VerstraeteDirector
  • Sandra HoeylaertsDirector
  • Luc TackDirector
Go to Board & ownership

Network & group

Group
OOSTIEP GROUP
Subsidiaries, all levels
15
Mergers and asset contributions
1

15 subsidiaries

Go to Network & group

Timeline

Events
82
Since
1978
Next accounts
by 31-07-2027
  1. 31-12-2024Highest result from 2018 to 2025
  2. 09-09-2024Reappointments: Luc Tack (uitvoerend,niet onafhankelijk bestuurder) and…
  3. 13-06-2024Resignation: Stefaan Haspeslagh (director)
Go to Timeline

Company details

Sites
1
Legal form
Public limited company
Activity
Manufacture of machinery and equipment not elsewhere classifiedNACE 28940
Founded
22-11-1928
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

Key facts about PICANOL

What is the company number of PICANOL?
0405.502.362. In Belgium the VAT number is the company number with BE in front: BE 0405.502.362.
Where is PICANOL based?
The registered office is at Steverlyncklaan 15, 8900 Ieper.Company details
What does PICANOL do?
According to the KBO register, the main activity is manufacture of machinery and equipment not elsewhere classified (NACE 28940).
What is the legal form of PICANOL?
Public limited company (NV).
When was PICANOL founded?
On 22-11-1928.
Is PICANOL still active?
Yes, PICANOL is an active enterprise in the KBO register.
How many employees does PICANOL have?
On average 620.7 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
What is the turnover of PICANOL?
€300.9m in financial year 2025, according to the filed annual accounts.
Is PICANOL profitable?
In financial year 2025, PICANOL made a profit of €17.2m.
Where can I find the annual accounts of PICANOL?
PICANOL filed 75 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
When are the next annual accounts of PICANOL due?
By 31-07-2027, for financial year 2026.Timeline

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