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Complete company report
Generated 31-07-2026
Active BE 0656.615.863Private limited company (pre-2019)

PASS & CO

· 10 yrs active
Conclusion Checked

The computed 12-month bankruptcy probability of PASS & CO is 4.8% (elevated). The 2022 annual accounts show negative equity (€-200k) and a net result of €-116k. Equity is shrinking by ~63.2% per year across the filed fiscal years. The company has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 5 annual accounts.
Key figures
Equity €-200k
Net result €-116k
Active 10 yrs
Publications 4
Snowflake analysis 5 axes · computed by Checked
Health7Profitability100Solvency33Growth46Stability100
57 / 100

Mixed profile: strong on profitability, weaker on health.

Health 7
Profitability 100
Solvency 33
Growth 46
Stability 100
Bankruptcy probability (12 mo) Checked model v1 · free
4.8% Elevated
0%0,5%1,5%4%10%≥25%
Annual accounts: weaker financial profile +No NACE activity registered +

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Risk Assessment rule-based
0 / 100
Low risk
Trust signals 3 signals
Established
Founded in 2016, 10 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad.
Administratively compliant
No FOD Economie strikeouts (UBO, accounts, address, activity).
Administrative Flags 0 events
No administrative flags
Health barometer FY 2022 · computed
7 / 100 Critical
050100

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Computed by Checked from NBB filings and Belgian State Gazette signals. Indicative, not credit advice.
Financial overview6 NBB filings
Annual accounts filed on 27-09-2023 with the NBB · fiscal year 2022 · micro
€-500k€0€500k€1.00M€1.50MRevenue 2018: €1.50M€1.50MOperating result 2018: €10k€10kNet result 2018: €8k€8kOperating result 2019: €6k€6kNet result 2019: €8k€8kRevenue 2020: €1.68M€1.68MOperating result 2020: €-107k€-107kNet result 2020: €-99k€-99kOperating result 2021: €7k€7kNet result 2021: €7k€7kOperating result 2022: €-116k€-116kNet result 2022: €-116k€-116k20182019202020212022
RevenueOperating resultNet result
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
declining Equity: declining trend of ~63.2%/year over 5 fiscal years, indicative, assuming unchanged policy.
€-400k€-300k€-200k€-100k€02023: €-250k (€-266k - €-234k)2024: €-303k (€-319k - €-287k)2025: €-356k (€-372k - €-340k)2018: €14k2019: €17k2020: €-91k2021: €-84k2022: €-200k20182019202020212022202320242025
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Revenue
€1.68M
+12.1% 18-22
EBITDA
€-112k
- 18-22
Net profit
€-116k
- 18-22
Cash flow
€-113k
- 18-22
Total assets
€59k
-63.4% 18-22
Equity
€-200k
-138.0% 18-22
Working capital
€-211k
-114.2% 18-22
Staff costs
€87k
+94.5% 18-22
Income taxes
€3k
-7.9% 18-22
Debt
€259k
+5.1% 18-22
Debt ≤ 1y
€259k
+5.1% 18-22
Current ratio
0.19
-69.2% 18-22
Quick ratio
0.06
-63.2% 18-22
Solvency
-335.7%
-551.2% 18-22
Debt / equity
-1.30
+55.9% 18-22
ROE
58.0%
- 18-22
ROA
-194.7%
- 18-22
Net margin
-5.9%
- 18-22
EBITDA margin
-6.2%
- 18-22
Interest coverage
-689.95
- 18-22
Figures by fiscal year
Fiscal year2022
Revenue-
EBITDA€-112k
Net profit€-116k
Cash flow€-113k
Staff costs€87k
Income taxes-
Dividends-
Total assets€59k
Equity€-200k
Debt€259k
of which ≤ 1y€259k
of which > 1y-
Working capital€-211k
Employees (FTE)-
Ratios (computed)
2022
Current ratio0.19
Quick ratio0.06
Working capital ratio-355.1%
Solvency-335.7%
Debt / equity-1.30
Long-term debt ratio-
Interest coverage-689.95
Gross margin-
Net margin-
ROA-194.7%
ROE58.0%
EBITDA margin-
Days sales outstanding-
Days payable outstanding-
Inventory turnover-
Days inventory (DSI)-
Balance-sheet composition 2022
Full annual accounts
Filed balance sheet and income statement, exactly as deposited with the NBB.
Line item Code2022
Balance sheet, Assets
TOTAL ASSETS 20/58€59k
Fixed assets 21/28€12k
Intangible fixed assets 21€11k
Tangible fixed assets 22/27€1k
Current assets 29/58€48k
Stocks & contracts in progress 3€32k
Amounts receivable within one year 40/41€12k
Cash & bank 54/58€5k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES 10/49€59k
Equity 10/15€-200k
Contributions / capital 10/11€6k
Reserves 13€2k
Accumulated profits (losses) 14€-208k
Amounts payable 17/49€259k
Amounts payable within one year 42/48€259k
Trade debts payable within one year 44€109k
Income statement
Gross operating margin 9900€-24k
Operating result 9901€-116k
Financial charges 65€163
Result before taxes 9903€-116k
Net result for the period 9904€-116k
Result to be appropriated 9905€-116k
You're seeing the latest fiscal year only. Unlock 4 prior years (figures + ratios) with a paid plan. See plans →
Ratios computed by Checked.
Legal Structure
NACE primary -
Legal form Private limited company (pre-2019)(015)
Incorporation14-06-2016
StatusActive
Postal code-
Real-estate footprint Source: CBE × cadastre

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Brussels 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
21305C0266/00S010 Brussels 124 m² 1 · 124 m² 21.0 m · 6 fl.
Methodology
via registered seat: 1
1 of 1 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates 10 events

A single timeline of everything that happened to this company, publications, insolvency and lifecycle events, administrative changes and filed annual accounts.

2024
06-08-2024
State Gazette act Capital & shares
18-04-2024
State Gazette act Capital & shares
2023
10-11-2023
State Gazette act Capital & shares
27-09-2023
NBB filing Annual accounts filed
fiscal year 2022 · micro
09-01-2023
State Gazette act Capital & shares
2022
31-10-2022
NBB filing Annual accounts filed
fiscal year 2021 · volledig
31-01-2022
NBB filing Annual accounts filed
fiscal year 2020 · volledig
2020
28-11-2020
NBB filing Annual accounts filed
fiscal year 2019 · volledig
08-05-2020
NBB filing Annual accounts filed
fiscal year 2018 · volledig
2018
31-08-2018
NBB filing Annual accounts filed
fiscal year 2017 · volledig
Belgisch Staatsblad, acts 4 acts
Capital history · 4
06-08-2024
Capital change
18-04-2024
Capital change
10-11-2023
Capital change
09-01-2023
Capital change
All acts · 4 updated 1 year ago
2024
06-08-2024 All shares are now held by a single shareholder Capital & shares
Technical details 
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          "kind": "person",
          "name": "TSHIBWABWA BEYA",
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        },
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  },
  "act_meta": {
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    "pub_date": "2024-08-06",
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  "subject_company": {
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18-04-2024 All shares are now held by a single shareholder Capital & shares
Technical details 
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          "kind": "person",
          "name": "TSHIBWABWA BEYA",
          "share_class": "Sociales",
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          "contribution_amount_eur": null
        }
      ],
      "decrease_purpose": null,
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    }
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  "notary": {
    "name": null,
    "firm_city": null,
    "firm_name": null,
    "office_city": "Bruxelles",
    "is_associated": false
  },
  "act_meta": {
    "language": "mixed",
    "pub_date": "2024-04-18",
    "filing_date": "1966-01-01",
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  "decision": {
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    "act_date": "2024-03-27",
    "unanimous": true,
    "under_authorized_capital": false,
    "underlying_resolution_date": "2024-03-27"
  },
  "bedrijfsrevisor": null,
  "subject_company": {
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    "name_full": "PASS\u0026CO",
    "legal_form": "Soci\u00E9t\u00E9 priv\u00E9e \u00E0 responsabilit\u00E9 limit\u00E9e",
    "is_foreign_registered": false
  },
  "publication_proxy": {
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  },
  "co_filed_documents": [],
  "shareholders_after": [
    {
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      "share_class": "Sociales"
    }
  ],
  "share_classes_after": [
    {
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      "capital_share_eur": null,
      "voting_rights_per_share": null
    }
  ]
}
2023
10-11-2023 All shares are now held by a single shareholder Capital & shares
Technical details 
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      "subscribers": [
        {
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          "kind": "person",
          "name": "RIBEIRO FONTANIVE Alexandre Matthaeus",
          "share_class": null,
          "liberation_pct": null,
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        },
        {
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  "notary": {
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  "act_meta": {
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    "pub_date": "2023-11-10",
    "filing_date": null,
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  "decision": {
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    "unanimous": null,
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  },
  "bedrijfsrevisor": null,
  "subject_company": {
    "kbo": "0656.615.863",
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    "legal_form": "Soci\u00E9t\u00E9 priv\u00E9e \u00E0 responsabilit\u00E9 limit\u00E9e",
    "_kbo_filled_from_list": true,
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  "publication_proxy": {
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}
09-01-2023 Transaction in capital or shares Capital & shares
Technical details 
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          "name": "AKRAM Mohammad",
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        },
        {
          "kbo": null,
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          "kind": "person",
          "name": "NAWAZ Muhammad",
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        },
        {
          "kbo": null,
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          "kind": "person",
          "name": "AKRAM Mohammad Ali",
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  },
  "act_meta": {
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    "pub_date": "2023-01-09",
    "filing_date": "2022-12-30",
    "act_kind_objet": "Cession d\u0027actions"
  },
  "decision": {
    "body": "algemene_vergadering",
    "act_date": "2022-12-19",
    "unanimous": null,
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  },
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  },
  "co_filed_documents": [],
  "shareholders_after": [
    {
      "kbo": null,
      "pct": null,
      "kind": "person",
      "name": "FAROOQ Azam",
      "role": "g\u00E9rant_statutaire",
      "n_shares": 50,
      "share_class": null
    },
    {
      "kbo": null,
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      "kind": "person",
      "name": "AKRAM Mohammad",
      "role": "aandeelhouder",
      "n_shares": 20,
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    },
    {
      "kbo": null,
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      "kind": "person",
      "name": "ANSARI Mohammad",
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    },
    {
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      "kind": "person",
      "name": "NAWAZ Muhammad",
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}
Credit advice verdict per customer and amount

Should this customer buy amount X on invoice? Enter the amount and payment terms, you get an instant GREEN/AMBER/RED verdict, with a suggested ceiling and concrete conditions.

Based on official sources (NBB, CBE, State Gazette). Indicative, not credit advice.
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Generate a structured, factual brief from every signal in this dossier: risk, financial health, ownership, mandates and sector comparison.

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Company registry (CBE) Crossroads Bank
Names & trade names
Legal nameFR PASS & CO
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.
Source: Belgian State Gazette, CBE, NBB · generated via checked.be · indicative