ACO PASSAVANT
ActiveSummary
ACO PASSAVANT has been active since 1966 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3.13M and a net result of €1.12M. Equity is growing by ~4.5% per year across the filed fiscal years. Its solvency ranks better than 45% of 4867 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
70
/ 100
Healthy
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability79▼-5
Solvency66▲+4
Growth48▼-1
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €210k at 30 days acceptable
Liquidity tight (current ratio 1.34 against 1.27 in 2024; short-term debt: 43.8% and cash: 3.4% of total assets), and 58.9% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
41.1%
Return on assets
14.7%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Sector 46
higher
← fewer bankruptcies
more bankruptcies →
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 31-07-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
15 d early
2023
on the day
2022
17 d early
2021
19 d early
2020
19 d early
2019
17 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Source amounts without an identifiable currency are assumed to be EUR.
Turnover
€19.77M▼ 3.8%
2024 · €20.56M
2018: €17.30M
2019: €17.30M
2020: €18.12M
2021: €21.78M
2022: €21.94M
2023: €20.47M
2024: €20.56M
2018 → 2025
EBIT margin
8.8%▼ 1.9pp
2024 · 10.8%
2018: 14.8%
2019: 13.9%
2020: 13.3%
2021: 12.6%
2022: 12.3%
2023: 12.4%
2024: 10.8%
2018 → 2025
Net result
€1.12M▼ 22.5%
2024 · €1.45M
2018: €1.54M
2019: €1.54M
2020: €1.61M
2021: €1.84M
2022: €1.78M
2023: €1.75M
2024: €1.45M
2018 → 2025
Working capital
€1.14M▲ 12.4%
2024 · €1.02M
2018: €1.07M
2019: €1.07M
2020: €1.31M
2021: €1.01M
2022: €1.15M
2023: €1.25M
2024: €1.02M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€21.78M-€21.94M▲ 0.7%€20.47M▼ 6.7%€20.56M▲ 0.5%€19.77M▼ 3.8%
Equity€2.78M-€2.81M▲ 1.2%€2.96M▲ 5.3%€3.01M▲ 1.5%€3.13M▲ 4.0%
Operating result€2.73M-€2.69M▼ 1.5%€2.53M▼ 5.9%€2.21M▼ 12.7%€1.75M▼ 20.9%
Net result€1.84M-€1.78M▼ 3.2%€1.75M▼ 1.8%€1.45M▼ 17.4%€1.12M▼ 22.5%
Result per fiscal year
Operating resultNet result
The operating result has fallen four years in a row; 2025 is 21% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €7.62M
Fixed assets
€3.14M ▼ 5.7%
Current assets
€4.48M ▼ 5.1%
Equity and liabilities €7.62M
Equity
€3.13M ▲ 4.0%
Provisions
€27k ▼ 26.4%
Debt
€4.46M ▼ 10.9%
Debt's share of the balance-sheet total falls from 62.2% to 58.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€2.04M▼
2024 · €2.50M
Cash flow
€1.41M▼
2024 · €1.73M
Current ratio
1.34▲
2024 · 1.27
Quick ratio
0.82▲
2024 · 0.77
Debt to equity
1.43▼
2024 · 1.66
ROE
35.8%▼
2024 · 48.1%
ROA
14.7%▼
2024 · 18.0%
Interest coverage
38.43▲
2024 · 30.71
Debt ≤ 1 year
€3.33M▼
2024 · €3.70M
Debt > 1 year
€1.09M▼
2024 · €1.25M
Income taxes
€413k▼
2024 · €541k
Staff costs
€3.96M▲
2024 · €3.74M
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 87 lines
Balance sheet
Code20242025
Assets
Total assets20/58€8.05M€7.62M▼
Fixed assets21/28€3.33M€3.14M▼
Tangible fixed assets22/27€3.33M€3.14M▼
Land and buildings22€3.19M€2.98M▼
Plant, machinery and equipment23€23k€29k▲
Furniture and vehicles24€55k€55k▼
Other tangible fixed assets26€65k€78k▲
Financial fixed assets28€1k€1k=
Other financial fixed assets284/8€1k€1k=
Shares284€150€150=
Amounts receivable and cash guarantees285/8€1k€1k=
Current assets29/58€4.72M€4.48M▼
Stocks and contracts in progress3€1.87M€1.74M▼
Stocks30/36€1.87M€1.74M▼
Goods purchased for resale34€1.87M€1.74M▼
Amounts receivable within one year40/41€2.53M€2.46M▼
Trade receivables40€1.79M€2.34M▲
Other amounts receivable41€745k€125k▼
Current investments50/53€505€505=
Other investments51/53€505€505=
Cash at bank and in hand54/58€292k€255k▼
Deferred charges and accrued income490/1€17k€15k▼
Equity and liabilities
Total equity and liabilities10/49€8.05M€7.62M▼
Equity10/15€3.01M€3.13M▲
Contributions10/11€656k€656k=
Capital10€656k€656k=
Issued capital100€656k€656k=
Reserves13€208k€215k▲
Non-distributable reserves130/1€66k€66k=
Legal reserve130€66k€66k=
Tax-exempt reserves132€68k€75k▲
Distributable reserves133€75k€75k=
Profit (loss) carried forward14€2.14M€2.26M▲
Provisions and deferred taxes16€36k€27k▼
Provisions for liabilities and charges160/5€0-
Other liabilities and charges164/5€0-
Deferred taxes168€36k€27k▼
Amounts payable17/49€5.01M€4.46M▼
Amounts payable after more than one year17€1.25M€1.09M▼
Financial debts170/4€1.25M€1.09M▼
Other loans174€1.25M€1.09M▼
Amounts payable within one year42/48€3.70M€3.33M▼
Current portion of amounts payable after more than one year42€156k€156k=
Trade debts44€1.48M€1.48M▼
Suppliers440/4€1.48M€1.48M▼
Advances received on contracts in progress46€0-
Taxes, remuneration and social security45€662k€699k▲
Taxes450/3€0€16▲
Remuneration and social security454/9€662k€699k▲
Other amounts payable47/48€1.40M€1.00M▼
Accrued charges and deferred income492/3€57k€37k▼
Income statement
Code20242025
Operating income70/76A€20.95M€20.04M▼
Turnover70€20.56M€19.77M▼
Other operating income74€274k€263k▼
Non-recurring operating income76A€107k€0▼
Operating charges60/66A€18.73M€18.29M▼
Goods for resale, raw materials and consumables60€11.47M€11.07M▼
Purchases600/8€11.94M€10.88M▼
Change in stocks: decrease (increase)609€-463k€191k▲
Services and other goods61€2.82M€2.89M▲
Remuneration, social security and pensions62€3.74M€3.96M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€286k€288k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€-630€-41k▼
Other operating charges640/8€415k€121k▼
Operating profit (loss)9901€2.21M€1.75M▼
Financial income75/76B€65k€26k▼
Recurring financial income75€65k€26k▼
Income from current assets751€54k€20k▼
Other financial income752/9€11k€6k▼
Financial charges65/66B€301k€250k▼
Recurring financial charges65€301k€250k▼
Debt charges650€81k€53k▼
Other financial charges652/9€220k€197k▼
Profit (loss) for the period before taxes9903€1.98M€1.52M▼
Transfer from deferred taxes780€10k€10k=
Income taxes67/77€541k€413k▼
Taxes670/3€541k€421k▼
Tax adjustments and reversals of tax provisions77€0€8k▲
Profit (loss) for the period9904€1.45M€1.12M▼
Transfer from tax-exempt reserves789€18k€18k=
Transfer to tax-exempt reserves689-€25k
Profit (loss) for the period to be appropriated9905€1.46M€1.11M▼
Appropriation of the result
Profit (loss) to be appropriated9906€3.54M€3.26M▼
Profit (loss) brought forward from the previous period14P€2.08M€2.14M▲
Profit to be distributed694/7€1.40M€1.00M▼
Return on contributions (dividend)694€1.40M€1.00M▼
Social balance
Average headcount (FTE)908735.536.8▲
The notes to these accounts (82 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Weakest financial yearnet €1.12M ▼22.5%
Net result drops to €1.12M, the lowest in the series.
16-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
14-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
12-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Highest result since 2018net €1.84M ▲14.1%
Operating result €2.73M, net result €1.84M, both a record.
12-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
14-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
11-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
16-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
13-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
11 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Merchtem · 1 establishment unit since 1967
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Preenakker 61785 MerchtemGround area
1.2 ha
Building footprint
6,470 m²
Volume, LiDAR
42,775 m³
Parcel 23602I0092/00G000, Flanders · tallest building 8.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Preenakker 8, 1785 Merchtem
since 19672.001.172.554
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23602I0092/00G000 | Flanders | 1.2 ha | 2 · 6,470 m² | 8.8 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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PONCELET SIGNALISATION
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Of 395 companies in sector 46839 we hold annual accounts for 251. 120 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded19-02-1966
Fiscal year end31-12
Activities, NACEBEL 2025
46649Wholesale of other machinery and equipment
46839Wholesale trade
43990Other specialised construction activities
Sources
Crossroads Bank for EnterprisesNational Bank · 48 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.