PASCO
ActivePASCO has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €411k and a net result of €375k. Equity is growing by ~8.1% per year across the filed fiscal years. Its solvency ranks better than 24% of 670 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
74
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability97▼-3
Solvency49▲+3
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €30k at 30 days acceptable
Liquidity tight (current ratio 1.29 against 1.26 in 2024; short-term debt: 75.5% and cash: 35.8% of total assets), and 75.6% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight 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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 25
Relative position
BE, all sectors
reference
Sector 25
higher
← fewer bankruptcies
more bankruptcies →
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
24.4%
Return on assets
22.3%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 24% of 670 sector peers (2025).
NBB · sector comparisonPosition among 670 sector peers
Solvency
better than 24%
← weakest
strongest →
neutral · A punctual record breaks
This company filed 9 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
31 d late
2024
23 d early
2023
127 d early
2022
18 d early
2021
13 d early
2020
24 d early
2019
7 d early
← before the deadline
after the deadline →
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
19-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€375k▼ 48.7%
2024 · €732k
2018: €391k
2019: €143k
2020: €491k
2021: €234k
2022: €937k
2023: €507k
2024: €732k
2018 → 2025
Working capital
€368k▲ 2.3%
2024 · €359k
2018: €228k
2019: €255k
2020: €252k
2021: €217k
2022: €227k
2023: €230k
2024: €359k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€242k-€242k=€243k▲ 0.2%€375k▲ 54.1%€411k▲ 9.7%
Operating result€256k-€943k▲ 269%€519k▼ 45.0%€840k▲ 61.9%€479k▼ 43.0%
Net result€234k-€937k▲ 300%€507k▼ 45.9%€732k▲ 44.4%€375k▼ 48.7%
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 43% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.68M
Fixed assets
€45k▲ 93.1%
Current assets
€1.64M▼ 5.3%
Equity and liabilities €1.68M
Equity
€411k▲ 9.7%
Debt
€1.27M▼ 7.7%
The debt ratio falls from 78.6% to 75.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€489k▼
2024 · €846k
Cash flow
€386k▼
2024 · €738k
Solvency
24.4%▲
2024 · 21.4%
Current ratio
1.29▲
2024 · 1.26
Quick ratio
0.56▼
2024 · 0.83
Debt / equity
3.10▼
2024 · 3.68
ROE
91.3%▼
2024 · 195.3%
ROA
22.3%▼
2024 · 41.7%
Interest coverage
318.77▲
2024 · 251.98
Debt
€1.27M▼
2024 · €1.38M
Debt ≤ 1 year
€1.27M▼
2024 · €1.37M
Income taxes
€103k▼
2024 · €106k
Staff costs
€313k▼
2024 · €340k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€1.75M€1.68M▼
Fixed assets21/28€23k€45k▲
Tangible fixed assets22/27€14k€35k▲
Land and buildings22€0-
Plant, machinery and equipment23€3k€7k▲
Furniture and vehicles24€11k€14k▲
Other tangible fixed assets26€323€15k▲
Financial fixed assets28€10k€10k=
Current assets29/58€1.73M€1.64M▼
Amounts receivable after more than one year29€0-
Other amounts receivable291€0-
Stocks and contracts in progress3€594k€930k▲
Stocks30/36€594k€930k▲
Amounts receivable within one year40/41€416k€100k▼
Trade receivables40€401k€69k▼
Other amounts receivable41€14k€31k▲
Cash at bank and in hand54/58€722k€603k▼
Deferred charges and accrued income490/1€0€7k▲
Equity and liabilities
Total equity and liabilities10/49€1.75M€1.68M▼
Equity10/15€375k€411k▲
Contributions10/11€183k€183k=
Capital10€182k€182k=
Issued capital100€182k€182k=
Outside capital11€214€214=
Share premium1100/10€214€214=
Reserves13€191k€226k▲
Non-distributable reserves130/1€18k€18k=
Legal reserve130€18k€18k=
Distributable reserves133€173k€208k▲
Profit (loss) carried forward14€680€2k▲
Amounts payable17/49€1.38M€1.27M▼
Amounts payable within one year42/48€1.37M€1.27M▼
Trade debts44€690k€40k▼
Suppliers440/4€690k€40k▼
Taxes, remuneration and social security45€44k€36k▼
Taxes450/3€6k€8k▲
Remuneration and social security454/9€38k€28k▼
Other amounts payable47/48€638k€1.20M▲
Accrued charges and deferred income492/3€8k€1k▼
Income statement
Code20242025
Remuneration, social security and pensions62€340k€313k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€6k€10k▲
Other operating charges640/8€8k€23k▲
Gross operating margin9900€1.19M€825k▼
Operating profit (loss)9901€840k€479k▼
Financial income75/76B€972€1k▲
Recurring financial income75€972€1k▲
Financial charges65/66B€3k€2k▼
Recurring financial charges65€3k€2k▼
Profit (loss) for the period before taxes9903€838k€478k▼
Income taxes67/77€106k€103k▼
Profit (loss) for the period9904€732k€375k▼
Profit (loss) for the period to be appropriated9905€732k€375k▼
Appropriation of the result
Profit (loss) to be appropriated9906€733k€376k▼
Profit (loss) brought forward from the previous period14P€1k€680▼
Transfer to equity691/2€132k€35k▼
To other reserves6921€132k€35k▼
Profit to be distributed694/7€600k€339k▼
Return on contributions (dividend)694€180k€270k▲
Directors or managers695€420k€69k▼
Social balance
Average headcount (FTE)90875.55.6▲
The notes to these accounts (10 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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 31 days late
2025
08-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
26-03
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
13-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Highest result since 2018net €937k ▲300%
Operating result €943k, net result €937k, both a record.
18-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
07-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
24-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Weakest financial yearnet €143k ▼63.3%
Net result drops to €143k, the lowest in the series; recovery starts the following year.
08-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
25-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
13-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
4 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, Zele · 1 establishment unit since 1990
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.
Touwslagerstraat 49240 ZeleGround area
8,129 m²
Building footprint
2,629 m²
Volume, LiDAR
12,959 m³
Parcel 42028B0759/00V000, Flanders · tallest building 12.9 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
PASCO NV
since 19902.048.692.161
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 42028B0759/00V000 | Flanders | 8,129 m² | 1 · 2,629 m² | 12.9 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.
Recognitions · licences · registrations
Dual-learning approval
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Of 18 companies in sector 25910 we hold annual accounts for 14. 8 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded06-06-1990
Fiscal year end31-12
Activities, NACEBEL
25910Manufacture of fabricated metal products, except machinery and equipment
Sources
Crossroads Bank for EnterprisesNational Bank · 36 filingsAddress and cadastre registers
Data from official sources, last processed on 19-09-2026. Scores and ratios are computed by Checked and are not a credit decision.