Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Tight liquidity NBB
Cash and receivables cover 33 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
PIPE CONSTRUCT from Frameries, company number BE0449888869, closed financial year 2025 with a result of € 2.4 million after tax. For that financial year PIPE CONSTRUCT recorded revenue of € 10.6 million and equity of € 3.2 million. Compared with financial year 2024, the result moved from € 1.4 million to € 2.4 million. Profitable, and profit is growing. The buffer is growing. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on October 14, 2026.
€ 3.2 million
▲ 284% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 2.4 million
▲ 76% vs 2024
Profit after tax over the fiscal year.
€ 988,370
▲ 165% 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 € 3.1 million.
People and assets in 2025
8.8
▲ 1.4 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 643,161
▲ 34% vs 2024
€ 73,100 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.
€ 477,180
▲ 96% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 1,972
Loans from banks and other lenders, long and short.
€ 1 million
▲ 29% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 33 days on average.
€ 285,127
▲ 172% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 2,775,161 | € 6,158,565 | € 9,174,956 | € 10,581,526 | ▲ 15% |
| Profit after taxes | € -39,232 | € 1,175,629 | € 1,362,673 | € 2,391,829 | ▲ 76% |
| Equity | € 1,307,104 | € 480,104 | € 840,149 | € 3,229,350 | ▲ 284% |
| Total debts | € 1,686,076 | € 8,978,068 | € 6,759,477 | € 8,819,919 | ▲ 30% |
| Cash | € 1,343,427 | € 839,369 | € 373,447 | € 988,370 | ▲ 165% |
| Land & buildings | € 397,086 | € 351,164 | € 334,450 | € 288,107 | ▼ 14% |
| Retained profit | € 1,137,465 | € 313,093 | € 675,767 | € 3,067,596 | ▲ € 2.4 million |
| Dividend | € 4,500,000 | € 2,000,000 | € 1,000,000 | € 0 | ▼ 100% |
| Bank debt | € 23,381 | € 5,881 | € 0 | € 1,972 | |
| Balance sheet total | € 3,040,904 | € 9,684,988 | € 8,460,905 | € 12,750,604 | ▲ 51% |
| Employees (FTE) | 8 | 8.1 | 7.4 | 8.8 | ▲ 1.4 |
Key figures of PIPE CONSTRUCT, 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 July 2027.
What happened to PIPE CONSTRUCT?
What happened at PIPE CONSTRUCT in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 2.4 million (▲ 76% vs 2024). filed late Source: NBB ↗
- Nordine BENABDERRAHMANE stepped down as director. NBB
- Claude-Maximilien PIRSON stepped down as director. NBB
- Gaäl HANON stepped down as director. NBB
- Nordine BENABDERRAHMANE became a director. NBB
- Claude-Maximilien PIRSON became a director. NBB
- Gaäl HANON became a director. NBB
- New establishment in Frameries. KBO
In short
From € 39,232 loss in 2022 to € 2.4 million profit in 2025.
Paid € 2 million in corporate taxes since 2022.
Best year ever: 2025, with € 2.4 million profit.
Paid out € 7.5 million in dividends to the owners in total.
Management
The shares are held by SCT STEEL CONSTRUCTION TECHNOLOGY AG (100%). It owns 100% of PC ROHRLEITUNGSBAU GMBH, en liquidation itself.
Directors
According to the 2025 annual accounts
Nordine BENABDERRAHMANE
Director
since 2025 · until 2026
Claude-Maximilien PIRSON
Managing director
Also active at: Pirson - Montage, AVIMO, INTERNATIONAL MECHANICAL ELECTRICAL COMPANY, PARTNER, PIRSON INTERNATIONAL, PIRSON MONTAGE HAINAUT
since 2025 · until 2026
Gaäl HANON
Director
since 2025 · until 2026
Shareholders
SCT STEEL CONSTRUCTION TECHNOLOGY AG
100%
Participations
PC ROHRLEITUNGSBAU GMBH, en liquidation
100%
Establishments
Establishment units
Physical locations of this company
Rue de l'Europe 17
7080 Frameries
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 1 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0449.888.869
- VAT number
- BE 0449.888.869
- Registered office
- Rue de l'Europe 17, 7080 Frameries
- Names & denominations
- PIPE CONSTRUCT
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 15 April 1993
- Peppol
- Active · Active since 20 Nov 2020
- Activities · NACE
Vervaardiging van radiatoren, stoomketels en ketels voor centrale verwarming
Vervaardiging van stoomketels
Vervaardiging van metalen constructiewerken en delen daarvan
Vervaardiging van metalen constructiewerken en onderdelen daarvan
Vervaardiging van stoomketels, exclusief warmwaterketels voor centrale verwarming