Passe-Muraille
ActivePasse-Muraille has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €491k and a net result of €-37k. Equity is growing by ~20.4% per year across the filed fiscal years. Its solvency ranks better than 90% of 1413 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is < 0.1% (very low).
Checked score
Score 2025
80
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability11▼-80
Solvency100=
Growth65▼-16
Track record100
Bankruptcy probability, 12 months
< 0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €35k at 30 days acceptable
Liquidity ample (current ratio 6.56 against 5.89 in 2024; short-term debt: 13.9% and cash: 62.9% of total assets), and 16.7% 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 · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 62
Relative position
BE, all sectors
reference
Sector 62
lower
← fewer bankruptcies
more bankruptcies →
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
83.3%
Return on assets
-6.4%
Age of the figures
9 mo
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 14-07-2026, 17 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
17 d early
2024
23 d early
2023
48 d early
2022
84 d early
2021
74 d early
2020
37 d early
2019
24 d late
← 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
22-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€172k▲ 16.7%
2018 · €147k
2018: €147k
2018 → 2019
EBIT margin
3.5%▲ 1.4pp
2018 · 2.2%
2018: 2.2%
2018 → 2019
Net result
€-37k
2024 · €111k
2018: €3k
2019: €6k
2020: €8k
2021: €26k
2022: €25k
2023: €57k
2024: €111k
2018 → 2025
Working capital
€457k▼ 6.2%
2024 · €488k
2018: €96k
2019: €71k
2020: €151k
2021: €278k
2022: €329k
2023: €372k
2024: €488k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€302k-€363k▲ 20.3%€419k▲ 15.5%€529k▲ 26.3%€491k▼ 7.2%
Operating result€26k-€25k▼ 2.6%€50k▲ 97.4%€110k▲ 119%€-39k
Net result€26k-€25k▼ 3.8%€57k▲ 129%€111k▲ 95.5%€-37k
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €39k after €110k in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €590k
Fixed assets
€51k▲ 20.8%
Current assets
€539k▼ 8.2%
Equity and liabilities €590k
Equity
€491k▼ 7.2%
Debt
€99k▼ 1.3%
The debt ratio rises from 15.9% to 16.7%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-24k▼
2024 · €123k
Cash flow
€-22k▼
2024 · €123k
Solvency
83.3%▼
2024 · 84.1%
Current ratio
6.56▲
2024 · 5.89
Quick ratio
6.56▲
2024 · 5.89
Debt / equity
0.20▲
2024 · 0.19
ROE
-7.6%▼
2024 · 21.0%
ROA
-6.4%▼
2024 · 17.6%
Interest coverage
-18.01▼
2024 · 183.74
Debt
€99k▼
2024 · €100k
Debt ≤ 1 year
€82k▼
2024 · €100k
Staff costs
€622k▲
2024 · €548k
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€629k€590k▼
Fixed assets21/28€42k€51k▲
Intangible fixed assets21€22k€23k▲
Tangible fixed assets22/27€14k€23k▲
Plant, machinery and equipment23€14k€14k▼
Furniture and vehicles24-€9k
Financial fixed assets28€5k€5k=
Current assets29/58€587k€539k▼
Amounts receivable within one year40/41€49k€88k▲
Trade receivables40€35k€44k▲
Other amounts receivable41€14k€44k▲
Cash at bank and in hand54/58€459k€371k▼
Deferred charges and accrued income490/1€79k€80k▲
Equity and liabilities
Total equity and liabilities10/49€629k€590k▼
Equity10/15€529k€491k▼
Contributions10/11€121k€121k=
Capital10€121k€121k=
Reserves13€255k€238k▼
Profit (loss) carried forward14€151k€131k▼
Investment grants15€2k€1k▼
Amounts payable17/49€100k€99k▼
Amounts payable within one year42/48€100k€82k▼
Trade debts44€24k€25k▲
Suppliers440/4€24k€25k▲
Taxes, remuneration and social security45€76k€57k▼
Taxes450/3€2k-
Remuneration and social security454/9€74k€57k▼
Accrued charges and deferred income492/3-€16k
Income statement
Code20242025
Remuneration, social security and pensions62€548k€622k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€13k€15k▲
Other operating charges640/8€65€1k▲
Non-recurring operating charges66A€3k€1k▼
Gross operating margin9900€673k€601k▼
Operating profit (loss)9901€110k€-39k▼
Financial income75/76B€1k€3k▲
Recurring financial income75€1k€3k▲
Non-recurring financial income76B-€367
Financial charges65/66B€668€1k▲
Recurring financial charges65€668€1k▲
Profit (loss) for the period before taxes9903€111k€-37k▼
Profit (loss) for the period9904€111k€-37k▼
Profit (loss) for the period to be appropriated9905€111k€-37k▼
Appropriation of the result
Profit (loss) to be appropriated9906€262k€114k▼
Profit (loss) brought forward from the previous period14P€151k€151k=
From contributions791-€17k
To contributions691€111k-
Social balance
Average headcount (FTE)90878.79.1▲
The notes to these accounts (11 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
19-08
State Gazette act
Resignations & appointmentsGeneral meeting · Director reappointment · Member confirmation5 facts ▸
State Gazette act
Resignations & appointments
General meeting · Director reappointment · Member confirmation5 facts ▸
- General meeting, 2026-08-11
- Director reappointment, Laurent DUFRASNE (administrateur)
- Director reappointment, François SCHILTZ (administrateur)
- Director reappointment, Hubert SIEMES (administrateur)
- Member confirmation, membre effectif sans mandat d'administrateur
14-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Weakest financial yearnet €-37k ▼134%
Net result drops to €-37k, the lowest in the series.
08-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Highest result since 2018net €111k ▲95.5%
Operating result €110k, net result €111k, both a record.
31-12
Financial
Equity above €500kEq €529k ▲26.3%
7 profitable years in a row build equity to €529k.
13-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
08-05
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
18-05
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Equity above €200kEq €302k ▲66.8%
4 profitable years in a row build equity to €302k.
24-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Equity above €150kEq €181k ▲100%
3 profitable years in a row build equity to €181k.
24-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 24 days late
2019
05-09
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 36 days late
2018
25-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
09-05
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
under verification
This board is reconstructed from a single act (26106610). A Gazette act generally publishes only CHANGES, not a full roll call, so directors unchanged since then may be missing here. The KBO register holds the complete list of function holders.
François SCHILTZ
CurrentDirector
Hubert SIEMES
CurrentDirector
Laurent DUFRASNE
CurrentDirector
Location & real-estate footprint
Registered office, Mons · 1 establishment unit since 1998
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.
Avenue Edison 27000 Mons1 establishment unit
Passe-Muraille
since 19982.156.108.179
Public money · subsidies and aid
Wallonia-Brussels Federation
2023 to 2025 · 11 entries · 846,927 EUR in total| Year | Entries | paid |
|---|---|---|
| 2025 | 4 | 302,064 EUR |
| 2024 | 4 | 277,311 EUR |
| 2023 | 3 | 267,552 EUR |
Budget allocations
Subventions aux associations reconnues à durée indéterminée dans le cadre du décret du 17 juillet 2003
Subventions aux associations reconnues à durée déterminée et indéterminée dans le cadre du décret du 17 juillet 2003
Sub. - PV : Opér. de formation
Similar companies · same sector, comparable size
MDInforce
BE 0837.275.294
Keerbergen · Eq €492k
Go Vocal
BE 0638.901.287
Brussel · Eq €491k
Doktr
BE 0787.949.212
Schaarbeek · Eq €492k
AUDITSTAGE
BE 1009.226.404
Kampenhout · Eq €493k
VERBOLIA
BE 0698.736.233
Nivelles · Eq €493k
Of 16,887 companies in sector 62100 we hold annual accounts for 8,777. 5,505 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formNon-profit association
Founded12-02-1998
Fiscal year end31-12
Activities, NACEBEL
62010Computer programming, consultancy and related activities
62100Computer programming
85593Socio-cultural adult education
71111Activities of building architects
85599Other education
Sources
Crossroads Bank for EnterprisesNational Bank · 12 filings
Data from official sources, last processed on 22-09-2026. Scores and ratios are computed by Checked and are not a credit decision.