Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Tight liquidity NBB
Cash and receivables cover 58 % of short-term debt in 2025; threshold 65 %.
-
Shrinking team NBB
FTE fell two years in a row, from 8.8 to 5.4.
Financials
Financial year 2025
PICS from Antwerpen, company number BE0441442644, closed financial year 2025 with a result of € 5,597 after tax. For that financial year PICS recorded a gross margin of € 483,160 and equity of € 153,119. Compared with financial year 2024, the result moved from € 40,646 to € 5,597. The company is profitable. The buffer is growing. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on October 29, 2025.
€ 153,119
▲ 4% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 5,597
▼ 86% vs 2024
Profit after tax over the fiscal year.
€ 66,791
▼ 25% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € -31,881.
People and assets in 2025
5.4
▼ 2.2 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 405,060
▼ 25% vs 2024
€ 75,000 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 7,729
▼ 47% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 589,066
▲ 1% vs 2024
€ 441,160 is repaid this year. At this pace the long-term loan is gone in ≈ 1 years.
€ 344,056
▲ 88% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 109,645
▼ 39% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 596,965 | € 634,181 | € 658,879 | € 483,160 | ▼ 27% |
| Profit after taxes | € 7,639 | € 43,212 | € 40,646 | € 5,597 | ▼ 86% |
| Equity | € 63,665 | € 106,876 | € 147,522 | € 153,119 | ▲ 4% |
| Total debts | € 960,736 | € 1,182,440 | € 959,660 | € 1,058,485 | ▲ 10% |
| Cash | € 66,657 | € 76,486 | € 89,039 | € 66,791 | ▼ 25% |
| Land & buildings | € 244,171 | € 243,042 | € 292,065 | € 357,732 | ▲ 22% |
| Retained profit | € -121,335 | € -78,124 | € -37,478 | € -31,881 | ▲ € 5,597 |
| Bank debt | € 543,330 | € 528,152 | € 581,066 | € 589,066 | ▲ 1% |
| Balance sheet total | € 1,024,400 | € 1,289,316 | € 1,107,182 | € 1,211,603 | ▲ 9% |
| Employees (FTE) | 10.2 | 8.8 | 7.6 | 5.4 | ▼ 2.2 |
Key figures of PICS, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 October 2026.
What happened to PICS?
What happened at PICS in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Annité stepped down as director. NBB
- Urs Heller stepped down as director. NBB
- Koen Mertens stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 5,597 (▼ 86% vs 2024). Source: NBB ↗
- Annité became a director. NBB
- Urs Heller became a director. NBB
- Koen Mertens became a director. NBB
- New establishment in Antwerpen. KBO
In short
From € 7,639 profit in 2022 to € 5,597 profit in 2025.
Paid € 57,158 in corporate taxes since 2022.
Best year ever: 2023, with € 43,212 profit.
On average € 89,500 of value added per employee in 2025.
A new publication or filing at PICS? We notify you, reason included.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
Directors
According to the 2025 annual accounts
Managing director · represented by Rudi VOLCKAERTS
since 2023 · until 2028
Urs Heller
Director
since 2023 · until 2028
Koen Mertens
Managing director
since 2023 · until 2028
Establishments
Establishment units
Physical locations of this company
Middelmolenlaan 110
2100 Antwerpen
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Website
Technologies
Certifications & Partners
Hosting & Email
Email provider
Microsoft 365
Hosting
DUOCAST-AS, NL
Website info
Features
Security
Details
- Company number
- 0441.442.644
- VAT number
- BE 0441.442.644
- Registered office
- Middelmolenlaan 110, 2100 Antwerpen
- Names & denominations
- PICS
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 24 August 1990
- Peppol
- Active · Active since 27 Aug 2025
- Contact
- pics.be [email protected] 033265959
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