ACTIVE

PIEWAL

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Financial year 2024 · closed on 31/12/2024

Net result

-120,3 k €

-336.5% YoY

Gross margin

427,4 k €

-45.3% YoY

Equity

220,5 k €

-35.3% YoY

Workforce

10,2 ETP

-38.6% YoY

What does PIEWAL do?

PIEWAL is a Public limited company incorporated in 1963. Its main activity is: Rental and operating of own or leased real estate. Its registered office is in Chaudfontaine. It employs on average 10,2 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0403.930.566

Incorporation

18/04/1963

Legal form

Public limited company

Registered office

Source de la Lèche 43
4053 Chaudfontaine · WallonieSee on map

Contributed capital

75 000,00 €

Latest accounts

31/12/2024

Average workforce

10,2 ETP

Activities (NACE)

68201Rental and operating of own or leased real estate· main

Joint committees (3)

Signals

Solid equityHealthy social debts

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	427,4 k €	-45.3%	780,8 k €	-6.3%	833,1 k €	-0.4%	836,1 k €	+39.9%	597,8 k €	-52.1%	1,2 M €	+3.4%	1,2 M €	-10.4%	1,3 M €	-9.9%	1,5 M €	-11.6%	1,7 M €	-8.4%	1,8 M €	+5.3%	1,8 M €	-1.6%	1,8 M €	+14.6%	1,6 M €	+2.6%	1,5 M €	+14.1%	1,3 M €	+4.2%	1,3 M €	+0.3%	1,3 M €	-17.8%	1,5 M €
EBITDA	-51,9 k €	-236%	38 k €	-52.5%	80,1 k €	-18.0%	97,6 k €	+181%	-120,3 k €	-254%	78,3 k €	-20.8%	98,9 k €	+3558%	-2,9 k €	-105%	52,5 k €	-0.4%	52,7 k €	+385%	10,9 k €	-90.4%	112,6 k €	-32.7%	167,3 k €	+347%	-67,6 k €	-201%	66,7 k €	+1.4%	65,8 k €	+4.0%	63,3 k €	+239%	-45,6 k €	-131%	148,3 k €
Operating result	-73,4 k €	-1996%	3,9 k €	-91.4%	45,3 k €	-30.1%	64,7 k €	+142%	-155,8 k €	-667%	27,5 k €	-11.7%	31,1 k €	+160%	-52,1 k €	-277%	-13,8 k €	+25.5%	-18,6 k €	+57.7%	-43,8 k €	-208%	40,8 k €	-55.1%	90,8 k €	+161%	-148,3 k €	-733%	23,4 k €	-31.3%	34,1 k €	-7.3%	36,8 k €	+148%	-76,1 k €	-185%	89,1 k €
Net result	-120,3 k €	-337%	-27,6 k €	-252%	18,2 k €	-46.8%	34,2 k €	+119%	-180,9 k €	-5640%	3,3 k €	-64.2%	9,1 k €	+113%	-71 k €	-126%	-31,4 k €	+10.9%	-35,3 k €	+44.9%	-64 k €	-214%	56,4 k €	-19.1%	69,7 k €	+141%	-169,7 k €	-2704%	6,5 k €	-66.9%	19,7 k €	-0.3%	19,7 k €	+121%	-95,8 k €	-270%	56,2 k €
Balance sheet
Equity	220,5 k €	-35.3%	340,8 k €	-7.5%	368,4 k €	+5.2%	350,2 k €	+10.8%	316,1 k €	-36.4%	496,9 k €	+0.7%	493,7 k €	+1.9%	484,5 k €	+136%	205,6 k €	-13.3%	237 k €	-12.9%	272,2 k €	-19.0%	336,2 k €	+20.1%	279,8 k €	+33.1%	210,2 k €	-44.7%	379,9 k €	+1.7%	373,4 k €	+5.6%	353,7 k €	+2.8%	344 k €	-21.8%	439,8 k €
Total assets	555,4 k €	-56.9%	1,3 M €	+8.8%	1,2 M €	-7.0%	1,3 M €	+4.8%	1,2 M €	-22.6%	1,6 M €	+18.5%	1,3 M €	-11.5%	1,5 M €	+8.6%	1,4 M €	+5.7%	1,3 M €	-22.1%	1,7 M €	+46.7%	1,1 M €	+7.8%	1,1 M €	-18.3%	1,3 M €	-8.6%	1,4 M €	+45.9%	975,6 k €	-21.9%	1,2 M €	+32.5%	942,6 k €	+3.7%	909,4 k €
Cash	16,7 k €	-4.0%	17,4 k €	-33.2%	26 k €	+192%	8,9 k €	-28.3%	12,4 k €	-63.7%	34,3 k €	+64.2%	20,9 k €	-64.4%	58,5 k €	-2.2%	59,9 k €	+11.9%	53,5 k €	+156%	20,9 k €	-61.4%	54,1 k €	+187%	18,9 k €	-67.3%	57,7 k €	+65.3%	34,9 k €	+122%	15,8 k €	-80.6%	81,1 k €	+46.2%	55,5 k €	+178%	20 k €
Debts	331,5 k €	-64.4%	931,2 k €	+14.6%	812,6 k €	-11.3%	916 k €	+2.1%	897,3 k €	-16.3%	1,1 M €	+29.0%	831,4 k €	-17.5%	1 M €	-14.2%	1,2 M €	+10.0%	1,1 M €	-24.0%	1,4 M €	+74.0%	807,9 k €	+3.7%	779,2 k €	-28.4%	1,1 M €	+5.0%	1 M €	+72.3%	601,3 k €	-32.8%	894,5 k €	+49.7%	597,4 k €	+27.2%	469,6 k €
Other
Workforce	10,2 ETP	-38.6%	16,6 ETP	-3.5%	17,2 ETP	-14.9%	20,2 ETP	-12.2%	23,0 ETP	-8.7%	25,2 ETP	-11.6%	28,5 ETP	-12.0%	32,4 ETP	-18.6%	39,8 ETP	-7.7%	43,1 ETP	0.0%	43,1 ETP	+3.4%	41,7 ETP	-4.4%	43,6 ETP	+6.6%	40,9 ETP	+19.9%	34,1 ETP	+8.3%	31,5 ETP	-2.5%	32,3 ETP	-0.6%	32,5 ETP	-11.0%	36,5 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2024 · 2 active · 14 ended

Active mandates

Eric WALHIN

Managing director · since 25 mai 2023 · until 29 juin 2029

Active

Joëlle PIERSON

Director · since 25 mai 2023 · until 29 juin 2029

Active

Ended mandates

Eric WALHIN

Managing director · since 25 mai 2023 · until 25 mai 2029

Ended

Joëlle PIERSON

Director · since 25 mai 2023 · until 25 mai 2029

Ended

Eric WALHIN

Managing director · since 25 juillet 2017 · until 25 mai 2023

Ended

Eric WALHIN

Managing director · since 27 mai 2017 · until 25 mai 2023

Ended

Annual accounts

Full financial information

	2024	2023	2022	2021	2020	2019
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020	01/01/2019
Closing of the financial year	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020	31/12/2019
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	29/08/2025	26/07/2024	21/08/2023	31/08/2022	26/07/2021	30/09/2020
General meeting	30/06/2025	24/06/2024	29/06/2023	26/05/2022	30/06/2021	27/08/2020
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

19 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2024	30/06/2025	29/08/2025	French	PDF
Abridged model	31/12/2023	24/06/2024	26/07/2024	French	PDF
Abridged model	31/12/2022	29/06/2023	21/08/2023	French	PDF
Abridged model	31/12/2021	26/05/2022	31/08/2022	French	PDF
Abridged model	31/12/2020	30/06/2021	26/07/2021	French	PDF
Abridged model	31/12/2019	27/08/2020	30/09/2020	French	PDF
Abridged model	31/12/2018	23/05/2019	12/09/2019	French	PDF
Abridged model	31/12/2017	29/06/2018	29/08/2018	French	PDF
Abridged model	31/12/2016	25/05/2017	25/08/2017	French	PDF
Abridged model	31/12/2015	26/05/2016	29/08/2016	French	PDF
Abridged model	31/12/2014	22/05/2015	24/08/2015	French	PDF
Abridged model	31/12/2013	23/05/2014	12/08/2014	French	PDF
Abridged model	31/12/2012	24/05/2013	13/08/2013	French	PDF
Abridged model	31/12/2011	25/05/2012	16/08/2012	French	PDF
Abridged model	31/12/2010	27/05/2011	26/08/2011	French	PDF
Abridged model	31/12/2009	28/05/2010	23/08/2010	French	PDF
Abridged model	31/12/2008	22/05/2009	06/08/2009	French	PDF
Abridged model	31/12/2007	23/05/2008	02/07/2008	French	PDF
Abridged model	31/12/2006	22/06/2007	20/07/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 k€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2024 · 2 active · 14 ended

Active mandates

Eric WALHIN

Managing director · since 25 mai 2023 · until 29 juin 2029

Active

Joëlle PIERSON

Director · since 25 mai 2023 · until 29 juin 2029

Active

Ended mandates

Eric WALHIN

Managing director · since 25 mai 2023 · until 25 mai 2029

Ended

Joëlle PIERSON

Director · since 25 mai 2023 · until 25 mai 2029

Ended

Eric WALHIN

Managing director · since 25 juillet 2017 · until 25 mai 2023

Ended

Eric WALHIN

Managing director · since 27 mai 2017 · until 25 mai 2023

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates30/08/2024
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - DENOMINATION
PDF
Other24/11/2023
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - ASSEMBLEE GENERALE
PDF
Mandates07/09/2023
DEMISSIONS, NOMINATIONS
PDF
Mandates13/10/2017
DEMISSIONS, NOMINATIONS
PDF
Mandates25/09/2017
DEMISSIONS, NOMINATIONS
PDF
Mandates13/09/2011
DEMISSIONS, NOMINATIONS
PDF
Mandates27/10/2006
DEMISSIONS, NOMINATIONS - ASSEMBLEE GENERALE - CAPITAL, ACTIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates07/10/2005
DEMISSIONS, NOMINATIONS - CAPITAL, ACTIONS - DIVERS
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2024
Annual accounts 2024-120,3 k €↓
2024
Name changePIEWAL
2023
Annual accounts 2023-27,6 k €↓
2022
Annual accounts 202218,2 k €↓
2021
Annual accounts 202134,2 k €↑
2021
Name changeEntreprises de peintures Walhin
2020
Annual accounts 2020-180,9 k €↓
2019
Annual accounts 20193,3 k €↓
2018
Annual accounts 20189,1 k €↑
2017
Annual accounts 2017-71 k €↓
2016
Annual accounts 2016-31,4 k €↑
2015
Annual accounts 2015-35,3 k €↑
2014
Annual accounts 2014-64 k €↓
2013
Annual accounts 201356,4 k €↓
2012
Annual accounts 201269,7 k €↑
2011
Annual accounts 2011-169,7 k €↓
2010
Annual accounts 20106,5 k €↓
2009
Annual accounts 200919,7 k €↓
2008
Annual accounts 200819,7 k €↑
2007
Annual accounts 2007-95,8 k €↓
2006
Annual accounts 200656,2 k €
18/04/1963
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

PIEWAL

Overview

What does PIEWAL do?

Trend over 19 financial years

Indicative valuation

Board of directors

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline