PASFROST
ActivePASFROST has been active since 1974 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €39.06M and a net result of €14.00M. Equity is growing by ~4% per year across the filed fiscal years. Its solvency ranks better than 49% of 637 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
84
/ 100
Excellent▲ +13 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability83▼-9
Solvency63▲+16
Growth74▼-2
Stability100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2M at 30 days acceptable
Liquidity tight (current ratio 1.13 against 0.97 in 2024), and 61.8% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven 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
38.2%
Return on assets
13.7%
Age of the figures
8 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 10
Relative position
BE, all sectors
reference
Sector 10
higher
← fewer bankruptcies
more bankruptcies →
neutral · Latest accounts filed on time
The financial year that closed on 30-12-2025 was due by 30-07-2026 and was filed on 16-07-2026, 14 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
14 d early
2024
27 d early
2023
27 d early
2021
18 d early
2020
24 d late
2019
80 d late
2018
23 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-12-2026 and is due by 30-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
13-09-2026 today30-12-2026 close30-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€150.49M▲ 2.1%
2024 · €147.42M
2018: €85.19M
2019: €88.99M
2020: €87.58M
2021: €93.68M
2023: €243.64M
2024: €147.42M
2018 → 2025
EBIT margin
10.8%▼ 2.5pp
2024 · 13.4%
2018: 3.8%
2019: 1.2%
2020: 1.9%
2021: 3.7%
2023: 5.0%
2024: 13.4%
2018 → 2025
Net result
€14.00M▼ 20.7%
2024 · €17.65M
2018: €2.43M
2019: €1.04M
2020: €1.07M
2021: €3.33M
2023: €10.96M
2024: €17.65M
2018 → 2025
Working capital
€7.14M
2024 · €-1.93M
2018: €816k
2019: €502k
2020: €4.38M
2021: €8.50M
2023: €5.89M
2024: €-1.93M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202320242025Trend
Turnover€87.58M-€93.68M▲ 7.0%€243.64M▲ 160%€147.42M▼ 39.5%€150.49M▲ 2.1%
Equity€28.79M-€31.00M▲ 7.7%€34.68M▲ 11.9%€32.56M▼ 6.1%€39.06M▲ 20.0%
Operating result€1.66M-€3.45M▲ 108%€12.15M▲ 252%€19.69M▲ 62.0%€16.32M▼ 17.1%
Net result€1.07M-€3.33M▲ 211%€10.96M▲ 229%€17.65M▲ 61.0%€14.00M▼ 20.7%
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 17% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €102.12M
Fixed assets
€40.29M▼ 4.5%
Current assets
€61.83M▼ 4.1%
Equity and liabilities €102.12M
Equity
€39.06M▲ 20.0%
Provisions
€2.43M▲ 710%
Debt
€60.63M▼ 17.8%
The debt ratio falls from 69.2% to 59.4%: equity grows while debt is paid down.
Key figures and ratios
EBITDA
€23.05M▼
2024 · €26.84M
Cash flow
€20.72M▼
2024 · €24.80M
Solvency
38.2%▲
2024 · 30.5%
Current ratio
1.13▲
2024 · 0.97
Quick ratio
0.85▲
2024 · 0.75
Debt / equity
1.55▼
2024 · 2.27
ROE
35.8%▼
2024 · 54.2%
ROA
13.7%▼
2024 · 16.6%
Interest coverage
93.66▲
2024 · 75.15
Debt
€60.63M▼
2024 · €73.76M
Debt ≤ 1 year
€54.69M▼
2024 · €66.37M
Debt > 1 year
€5.80M▼
2024 · €7.25M
Income taxes
€2.41M▲
2024 · €2.16M
Staff costs
€9.68M▲
2024 · €8.40M
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€106.62M€102.12M▼
Fixed assets21/28€42.17M€40.29M▼
Tangible fixed assets22/27€42.11M€40.23M▼
Land and buildings22€27.39M€28.55M▲
Plant, machinery and equipment23€13.96M€10.45M▼
Furniture and vehicles24€765k€1.23M▲
Financial fixed assets28€58k€58k=
Other financial fixed assets284/8€58k€58k=
Amounts receivable and cash guarantees285/8€58k€58k=
Current assets29/58€64.45M€61.83M▼
Stocks and contracts in progress3€14.67M€15.29M▲
Stocks30/36€14.67M€15.29M▲
Raw materials and consumables30/31€129k€129k=
Finished goods33€14.54M€15.16M▲
Amounts receivable within one year40/41€39.11M€28.29M▼
Trade receivables40€28.02M€25.87M▼
Other amounts receivable41€11.09M€2.42M▼
Current investments50/53-€4.00M
Other investments51/53-€4.00M
Cash at bank and in hand54/58€10.29M€14.20M▲
Deferred charges and accrued income490/1€371k€59k▼
Equity and liabilities
Total equity and liabilities10/49€106.62M€102.12M▼
Equity10/15€32.56M€39.06M▲
Contributions10/11€9.02M€9.02M=
Capital10€9.02M€9.02M=
Issued capital100€9.02M€9.02M=
Reserves13€23.52M€30.02M▲
Non-distributable reserves130/1€902k€902k=
Legal reserve130€902k€902k=
Tax-exempt reserves132€3.18M€3.18M=
Distributable reserves133€19.44M€25.94M▲
Investment grants15€18k€18k=
Provisions and deferred taxes16€300k€2.43M▲
Provisions for liabilities and charges160/5€300k€2.43M▲
Other liabilities and charges164/5€300k€2.43M▲
Amounts payable17/49€73.76M€60.63M▼
Amounts payable after more than one year17€7.25M€5.80M▼
Financial debts170/4€7.25M€5.80M▼
Credit institutions173€7.25M€5.80M▼
Amounts payable within one year42/48€66.37M€54.69M▼
Current portion of amounts payable after more than one year42€1.78M€1.45M▼
Financial debts43€0-
Credit institutions430/8€0-
Trade debts44€41.44M€41.96M▲
Suppliers440/4€41.44M€41.96M▲
Taxes, remuneration and social security45€1.68M€1.67M▼
Taxes450/3€284k€176k▼
Remuneration and social security454/9€1.40M€1.50M▲
Other amounts payable47/48€21.47M€9.61M▼
Accrued charges and deferred income492/3€133k€135k▲
Income statement
Code20242025
Operating income70/76A€147.67M€150.86M▲
Turnover70€147.42M€150.49M▲
Other operating income74€254k€364k▲
Non-recurring operating income76A€0€5k▲
Operating charges60/66A€127.99M€134.54M▲
Goods for resale, raw materials and consumables60€83.69M€83.86M▲
Purchases600/8€84.24M€84.47M▲
Change in stocks: decrease (increase)609€-548k€-614k▼
Services and other goods61€28.07M€31.36M▲
Remuneration, social security and pensions62€8.40M€9.68M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€7.15M€6.72M▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€6k€-300▼
Provisions for liabilities and charges: additions (uses and reversals)635/8€0€2.13M▲
Other operating charges640/8€671k€780k▲
Non-recurring operating charges66A-€7k
Operating profit (loss)9901€19.69M€16.32M▼
Financial income75/76B€522k€413k▼
Recurring financial income75€522k€413k▼
Income from current assets751€468k€371k▼
Other financial income752/9€54k€43k▼
Financial charges65/66B€400k€322k▼
Recurring financial charges65€400k€322k▼
Debt charges650€357k€246k▼
Other financial charges652/9€42k€76k▲
Profit (loss) for the period before taxes9903€19.81M€16.41M▼
Income taxes67/77€2.16M€2.41M▲
Taxes670/3€2.16M€2.41M▲
Tax adjustments and reversals of tax provisions77€0€129▲
Profit (loss) for the period9904€17.65M€14.00M▼
Profit (loss) for the period to be appropriated9905€17.65M€14.00M▼
Appropriation of the result
Profit (loss) to be appropriated9906€17.65M€14.00M▼
Transfer from equity791/2€2.12M€0▼
From reserves792€2.12M€0▼
Transfer to equity691/2€0€6.50M▲
To the legal reserve6920€0-
To other reserves6921€0€6.50M▲
Profit to be distributed694/7€19.77M€7.50M▼
Return on contributions (dividend)694€8.27M€0▼
Directors or managers695€11.50M€7.50M▼
Social balance
Average headcount (FTE)9087128.8143.1▲
The notes to these accounts (59 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
16-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
03-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
30-12
Financial
Highest result since 2018net €17.65M ▲61%
Operating result €19.69M, net result €17.65M, both a record.
03-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2022
13-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
24-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 24 days late
2020
19-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 80 days late
2019
31-12
Financial
Weakest financial yearnet €1.04M ▼57.2%
Net result drops to €1.04M, the lowest in the series; recovery starts the following year.
08-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
20-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
28-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
25-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 25 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
12 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, Zonnebeke · 1 establishment unit since 1974
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.
Passendalestraat 808980 ZonnebekeGround area
6.0 ha
Building footprint
5,565 m²
Volume, LiDAR
72,587 m³
Parcel 33019C0594/00W000, Flanders · tallest building 16.6 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
Passendalestraat 80, 8980 Zonnebeke
since 19742.039.419.258
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 33019C0594/00W000 | Flanders | 6.0 ha | 1 · 5,565 m² | 16.6 m · 4 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.
Public money · subsidies and aid
Flemish government
2025 · 1 entry · 415,657 EUR awarded| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 415,657 EUR | 0 EUR |
Schemes
GREEN-investeringssteun (Groener en Efficiënter Energieverbruik)
Recognitions · licences · registrations
Food safety, FASFC
1 siteZonnebeke2.039.419.258
Legal Entity Identifier
5493004PQF0AQDNQNA30
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Ardooie · Eq €36.96M
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HESBAYEFROST
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Of 30 companies in sector 10393 we hold annual accounts for 26. 19 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded07-06-1974
Fiscal year end30-12
Activities, NACEBEL
10393Manufacture of food products
15332
Sources
Crossroads Bank for EnterprisesNational Bank · 44 filingsAddress and cadastre registers
Data from official sources, last processed on 12-09-2026. Scores and ratios are computed by Checked and are not a credit decision.