ACTIVE

PIP-MARGRAFF (SA)

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Financial year 2025 · closed on 31/12/2025

Net result

84,8 k €

-42.6% YoY

Gross margin

1,7 M €

+0.8% YoY

Equity

2,2 M €

+3.4% YoY

Workforce

48,4 ETP

-4.2% YoY

What does PIP-MARGRAFF do?

PIP-MARGRAFF is a Public limited company incorporated in 2003. Its main activity is: Hotels and similar accommodation. Its registered office is in Sankt Vith. It employs on average 48,4 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0862.373.649

Incorporation

23/12/2003

Legal form

Public limited company

Registered office

Hauptstrasse 7
4780 Sankt Vith · WallonieSee on map

Contributed capital

150 000,00 €

Latest accounts

31/12/2025

Average workforce

48,4 ETP

Activities (NACE)

55100Hotels and similar accommodation· main 55100Hotels and similar accommodation 55101Hotels and similar accommodation 55522Accommodation 56101Restaurants and mobile food service activities 56111Restaurants and mobile food service activities+2

Joint committees (1)

Signals

ProfitableSolid equityLow riskPositive cashflowPositive EBITDAHealthy social debts

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	1,7 M €	+0.8%	1,7 M €	+7.5%	1,5 M €	+13.8%	1,4 M €	-3.8%	1,4 M €	+51.1%	933,3 k €	-8.4%	1 M €	+1.5%	1 M €	+5.7%	949,7 k €	+11.7%	850 k €	+4.0%	817,5 k €	+2.0%	801,4 k €	+7.1%	748,5 k €	+13.0%	662,2 k €	+10.8%	597,9 k €	+11.2%	537,5 k €	-1.0%	543,2 k €	+18.6%	457,9 k €	+10.1%	415,9 k €	+9.2%	380,7 k €
EBITDA	561,1 k €	-5.1%	591,2 k €	-1.2%	598,5 k €	+12.8%	530,5 k €	-32.7%	788,7 k €	+66.6%	473,3 k €	+21.6%	389,3 k €	+13.7%	342,5 k €	-4.6%	359,1 k €	+12.9%	318 k €	-15.5%	376,1 k €	+5.0%	358,4 k €	+14.2%	313,8 k €	+13.4%	276,7 k €	+24.2%	222,8 k €	+21.1%	184 k €	-20.6%	231,6 k €	+31.4%	176,2 k €	+7.0%	164,7 k €	+20.7%	136,5 k €
Operating result	126,4 k €	-37.3%	201,6 k €	-4.5%	211 k €	+19.6%	176,4 k €	-63.1%	478,6 k €	+174%	174,6 k €	+93.6%	90,2 k €	+56.4%	57,7 k €	+88.2%	30,7 k €	+261%	8,5 k €	-95.7%	196,1 k €	+5.6%	185,6 k €	+60.9%	115,4 k €	+29.1%	89,4 k €	+79.3%	49,8 k €	+426%	9,5 k €	-81.0%	49,9 k €	+76.5%	28,3 k €	+10715%	261,7 €	+102%	-17 k €
Net result	84,8 k €	-42.6%	147,8 k €	-29.6%	210 k €	+16.2%	180,7 k €	-52.8%	383,2 k €	+124%	171 k €	+140%	71,3 k €	+12.9%	63,1 k €	+14.1%	55,4 k €	+531%	8,8 k €	-93.7%	139,6 k €	-2.2%	142,7 k €	+11.0%	128,6 k €	+73.1%	74,3 k €	+136%	31,5 k €	+262%	-19,4 k €	-136%	53,3 k €	+25.1%	42,6 k €	+155%	16,7 k €	+272%	-9,7 k €
Balance sheet
Equity	2,2 M €	+3.4%	2,1 M €	+9.1%	1,9 M €	+12.2%	1,7 M €	+9.7%	1,6 M €	+34.0%	1,2 M €	+16.9%	1 M €	+6.1%	950,2 k €	+8.7%	874,5 k €	-37.9%	1,4 M €	+0.2%	1,4 M €	+10.3%	1,3 M €	+11.8%	1,1 M €	+14.4%	996,9 k €	+8.5%	919 k €	+4.3%	881 k €	-2.7%	905,7 k €	-32.8%	1,3 M €	+3.0%	1,3 M €	+1.1%	1,3 M €
Total assets	3,6 M €	-4.4%	3,8 M €	-4.5%	4 M €	+0.7%	3,9 M €	+27.5%	3,1 M €	+9.0%	2,8 M €	+9.2%	2,6 M €	+0.2%	2,6 M €	-8.5%	2,8 M €	+15.9%	2,4 M €	+17.6%	2,1 M €	+1.5%	2 M €	-0.7%	2,1 M €	+8.2%	1,9 M €	+2.6%	1,9 M €	-5.8%	2 M €	-3.5%	2 M €	+0.8%	2 M €	+14.8%	1,8 M €	+2.8%	1,7 M €
Cash	147,6 k €	-82.8%	859,5 k €	+39.8%	614,7 k €	-12.7%	704,1 k €	-3.4%	729,2 k €	+105%	354,9 k €	-19.2%	439 k €	+13.8%	385,9 k €	-1.1%	390,3 k €	+22.1%	319,6 k €	-12.2%	364,1 k €	+36.0%	267,8 k €	+28.7%	208 k €	+128%	91,1 k €	+258%	25,4 k €	+146%	10,4 k €	-5.6%	11 k €	+169%	4,1 k €	+398%	818,6 €	-40.2%	1,4 k €
Debts	1,4 M €	-14.4%	1,7 M €	-17.6%	2 M €	-8.5%	2,2 M €	+46.7%	1,5 M €	-8.8%	1,6 M €	+4.4%	1,6 M €	-3.2%	1,6 M €	-16.2%	1,9 M €	+91.4%	1 M €	+56.1%	647,1 k €	-13.2%	745,9 k €	-16.6%	894,1 k €	+1.6%	880,2 k €	-3.0%	907,3 k €	-14.6%	1,1 M €	-4.4%	1,1 M €	+70.5%	651,7 k €	+52.0%	428,7 k €	+8.5%	395 k €
Other
Workforce	48,4 ETP	-4.2%	50,5 ETP	-4.4%	52,8 ETP	-1.5%	53,6 ETP	+6.8%	50,2 ETP	+8.7%	46,2 ETP	-6.1%	49,2 ETP	+10.8%	44,4 ETP	+17.5%	37,8 ETP	+3.3%	36,6 ETP	+15.8%	31,6 ETP	+18.8%	26,6 ETP	+32.3%	20,1 ETP	+46.7%	13,7 ETP	+10.5%	12,4 ETP	+5.1%	11,8 ETP	+6.3%	11,1 ETP	+1.8%	10,9 ETP	-5.2%	11,5 ETP	+2.7%	11,2 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 14 ended

Active mandates

Tanja PIP

Director · since 01 octobre 2018 · until 18 juin 2027

Active

Franz PIP

Managing director · since 16 décembre 2003 · until 18 juin 2027

Active

Monique GILMAN

Director · since 16 décembre 2003 · until 18 juin 2027

Active

Ended mandates

Tanja PIP

Director · since 01 octobre 2018 · until 18 juin 2021

Ended

Tanja PIP

Director · since 01 octobre 2018

Ended

Franz PIP

Director · since 19 juin 2015

Ended

Franz PIP

Managing director · since 19 juin 2015

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	31/08/2026	27/08/2025	29/07/2024	31/08/2023	16/09/2022	30/08/2021
General meeting	19/06/2026	20/06/2025	21/06/2024	16/06/2023	17/06/2022	18/06/2021
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

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	19/06/2026	31/08/2026	German	PDF
Abridged model	31/12/2024	20/06/2025	27/08/2025	German	PDF
Abridged model	31/12/2023	21/06/2024	29/07/2024	German	PDF
Abridged model	31/12/2022	16/06/2023	31/08/2023	German	PDF
Abridged model	31/12/2021	17/06/2022	16/09/2022	German	PDF
Abridged model	31/12/2020	18/06/2021	30/08/2021	German	PDF
Abridged model	31/12/2019	19/06/2020	27/10/2020	German	PDF
Abridged model	31/12/2018	21/06/2019	27/08/2019	German	PDF
Abridged model	31/12/2017	15/06/2018	30/08/2018	German	PDF
Abridged model	31/12/2016	16/06/2017	29/08/2017	German	PDF
Abridged model	31/12/2015	17/06/2016	23/08/2016	German	PDF
Abridged model	31/12/2014	19/06/2015	30/07/2015	German	PDF
Abridged model	31/12/2013	20/06/2014	20/08/2014	German	PDF
Abridged model	31/12/2012	21/06/2013	01/08/2013	German	PDF
Abridged model	31/12/2011	15/06/2012	14/08/2012	German	PDF
Abridged model	31/12/2010	17/06/2011	27/07/2011	German	PDF
Abridged model	31/12/2009	18/06/2010	17/08/2010	German	PDF
Abridged model	31/12/2008	19/06/2009	31/07/2009	German	PDF
Abridged model	31/12/2007	20/06/2008	21/08/2008	German	PDF
Abridged model	31/12/2006	15/06/2007	24/07/2007	German	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 M€

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 31/12/2025 · 3 active · 14 ended

Active mandates

Tanja PIP

Director · since 01 octobre 2018 · until 18 juin 2027

Active

Franz PIP

Managing director · since 16 décembre 2003 · until 18 juin 2027

Active

Monique GILMAN

Director · since 16 décembre 2003 · until 18 juin 2027

Active

Ended mandates

Tanja PIP

Director · since 01 octobre 2018 · until 18 juin 2021

Ended

Tanja PIP

Director · since 01 octobre 2018

Ended

Franz PIP

Director · since 19 juin 2015

Ended

Franz PIP

Managing director · since 19 juin 2015

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates09/12/2024
ENTLASSUNG - ERNENNUNG
PDF
Other21/11/2023
SATZUNGEN (UEBERSETZUNG, KOORDINATION, ANDERE AENDERUNGEN, )
PDF
Mandates29/10/2021
ENTLASSUNG - ERNENNUNG
PDF
Mandates20/12/2018
ENTLASSUNG - ERNENNUNG
PDF
Capital / shares24/11/2017
KAPITAL - AKTIEN - SATZUNGEN (UEBERSETZUNG, KOORDINATION, ANDERE AENDERUNGEN, )
PDF
Mandates12/08/2015
ENTLASSUNG - ERNENNUNG
PDF
Other18/01/2012
GENERALVERSAMMLUNG - SATZUNGEN (UEBERSETZUNG, KOORDINATION, ANDERE AENDERUNGEN, )
PDF
Capital / shares27/07/2009
KAPITAL - AKTIEN - SATZUNGEN (UEBERSETZUNG, KOORDINATION, ANDERE AENDERUNGEN, )
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

2025
Annual accounts 202584,8 k €↓
2024
Annual accounts 2024147,8 k €↓
2023
Annual accounts 2023210 k €↑
2022
Annual accounts 2022180,7 k €↓
2021
Annual accounts 2021383,2 k €↑
2020
Annual accounts 2020171 k €↑
2019
Annual accounts 201971,3 k €↑
2018
Annual accounts 201863,1 k €↑
2017
Annual accounts 201755,4 k €↑
2016
Annual accounts 20168,8 k €↓
2015
Annual accounts 2015139,6 k €↓
2014
Annual accounts 2014142,7 k €↑
2013
Annual accounts 2013128,6 k €↑
2012
Annual accounts 201274,3 k €↑
2011
Annual accounts 201131,5 k €↑
2010
Annual accounts 2010-19,4 k €↓
2009
Annual accounts 200953,3 k €↑
2008
Annual accounts 200842,6 k €↑
2007
Annual accounts 200716,7 k €↑
2006
Annual accounts 2006-9,7 k €
23/12/2003
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

PIP-MARGRAFF (SA)

Overview

What does PIP-MARGRAFF do?

Trend over 20 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