PASSION ENGINEERING
ActiveSummary
PASSION ENGINEERING has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€87,816) and a net result of -€13,247. Equity is shrinking by ~11.4% per year across the filed fiscal years. Its solvency ranks better than 11% of 2610 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability24▼-6
Solvency0=
Growth32=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.09 against 0.11 in 2024; short-term debt: 79% and cash: 1.1% of total assets), and equity is negative.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-31.9%
Return on assets
-4.8%
Age of the figures
9 mo
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 95
Relative position
BE, all sectors
reference
Repair and maintenance of computers, personal and household goods, and motor vehicles and motorcycles (NACE 95)
about 19% fewer bankruptcies
← 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
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€87,816
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 13-08-2026, 13 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
13 d late
2024
27 d late
2023
31 d late
2022
30 d late
2021
31 d late
2020
31 d late
2019
31 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 28 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 47% of the sector filed late.
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. Usually files around 30 August (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
-€87,816▼ 17.8%
2024 · -€74,569
Total assets
€274,965▼ 6.8%
2024 · €295,088
Net result
-€13,247▼ 50.7%
2024 · -€8,791
Working capital
-€197,980▼ 10.9%
2024 · -€178,512
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 95, Repair and maintenance of computers, personal and household goods, and motor vehicles and motorcycles, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€8,076-€3,818€12,220€1,394▼ 88.6%-€4,019
Net result-€1,706within the sector's middle half▲ 88.0%-€12,776below the sector's middle half▼ 649%€2,774within the sector's middle half-€8,791below the sector's middle half-€13,247below the sector's middle half▼ 50.7%
Equity-€55,776below the sector's middle half▼ 3.2%-€68,552below the sector's middle half▼ 22.9%-€65,778below the sector's middle half▲ 4.0%-€74,569below the sector's middle half▼ 13.4%-€87,816below the sector's middle half▼ 17.8%
Total assets€356,623above the sector's middle half▼ 5.4%€327,916within the sector's middle half▼ 8.0%€307,978within the sector's middle half▼ 6.1%€295,088within the sector's middle half▼ 4.2%€274,965within the sector's middle half▼ 6.8%
Debt€412,399▼ 4.3%€396,468▼ 3.9%€373,756▼ 5.7%€369,657▼ 1.1%€362,781▼ 1.9%
Working capital-€151,930below the sector's middle half▼ 4.0%-€165,734below the sector's middle half▼ 9.1%-€164,755below the sector's middle half▲ 0.6%-€178,512below the sector's middle half▼ 8.3%-€197,980below the sector's middle half▼ 10.9%
Solvency-15.6%below the sector's middle half▼ 1.3pp-20.9%below the sector's middle half▼ 5.3pp-21.4%below the sector's middle half▼ 0.5pp-25.3%below the sector's middle half▼ 3.9pp-31.9%below the sector's middle half▼ 6.7pp
Current ratio0.15below the sector's middle half▼ 0.020.10below the sector's middle half▼ 0.050.10below the sector's middle half▼ 0.010.11below the sector's middle half▲ 0.010.09below the sector's middle half▼ 0.02
Return on assets (ROA)-0.5%within the sector's middle half▲ 3.3pp-3.9%below the sector's middle half▼ 3.4pp0.9%within the sector's middle half▲ 4.8pp-3.0%below the sector's middle half▼ 3.9pp-4.8%below the sector's middle half▼ 1.8pp
above
within
below
the middle half (P25 to P75) of NACE 95, Repair and maintenance of computers, personal and household goods, and motor vehicles and motorcycles, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €4,019 after €1,394 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €274,965
Fixed assets
€255,637 ▼ 6.2%
Current assets
€19,329 ▼ 14.0%
Equity and liabilities
Equity-€87,816
Debt€362,781
Equity is negative: debt (€362,781) exceeds the balance-sheet total (€274,965).
Key figures and ratios
EBITDA
€12,953▼
2024 · €18,540
Cash flow
€3,725▼
2024 · €8,355
Quick ratio
0.02▼
2024 · 0.04
Interest coverage
1.40▼
2024 · 1.82
Debt ≤ 1 year
€217,309▲
2024 · €200,992
Debt > 1 year
€145,472▼
2024 · €168,665
No debt to equity: equity is negative, so debt divided by equity means nothing.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,332 companies that looked in July 2024 the way this one looks now, 2.8% went bankrupt within 24 months and 91% are still going.
- Micro
- 10 to 20 years old
- negative equity
- a small loss
2.8%
went bankrupt
5.8%
stopped otherwise
91%
still going
A further 0.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,341 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 2,332 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €20,162 | €20,380 | €18,763 | €17,146 | €16,972 | ▼ 1.0% |
| Other operating charges640/8 | €584 | €4,277 | €4,526 | €3,871 | €3,590 | ▼ 7.3% |
| Gross operating margin9900 | €28,822 | €20,839 | €35,509 | €22,411 | €16,543 | ▼ 26.2% |
| Operating profit (loss)9901 | €8,076 | -€3,818 | €12,220 | €1,394 | -€4,019 | ▼ 388% |
| Financial income75/76B | - | €2 | - | €7 | €0 | ▼ 97.2% |
| Recurring financial income75 | - | €2 | - | €7 | €0 | ▼ 97.2% |
| Financial charges65/66B | €9,782 | €8,960 | €9,446 | €10,192 | €9,228 | ▼ 9.5% |
| Recurring financial charges65 | €9,782 | €8,960 | €9,446 | €10,192 | €9,228 | ▼ 9.5% |
| Profit (loss) for the period before taxes9903 | -€1,706 | -€12,776 | €2,774 | -€8,791 | -€13,247 | ▼ 50.7% |
| Profit (loss) for the period9904 | -€1,706 | -€12,776 | €2,774 | -€8,791 | -€13,247 | ▼ 50.7% |
| Profit (loss) for the period to be appropriated9905 | -€1,706 | -€12,776 | €2,774 | -€8,791 | -€13,247 | ▼ 50.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €356,623 | €327,916 | €307,978 | €295,088 | €274,965 | ▼ 6.8% |
| Fixed assets21/28 | €328,897 | €308,517 | €289,754 | €272,608 | €255,637 | ▼ 6.2% |
| Tangible fixed assets22/27 | €328,897 | €308,517 | €289,754 | €272,608 | €255,637 | ▼ 6.2% |
| Land and buildings22 | €319,341 | €303,214 | €287,205 | €271,312 | €255,419 | ▼ 5.9% |
| Plant, machinery and equipment23 | €7,560 | €3,770 | €1,480 | €690 | €74 | ▼ 89.3% |
| Furniture and vehicles24 | €1,996 | €1,533 | €1,070 | €607 | €144 | ▼ 76.3% |
| Current assets29/58 | €27,726 | €19,399 | €18,224 | €22,480 | €19,329 | ▼ 14.0% |
| Stocks and contracts in progress3 | €14,805 | €14,805 | €14,805 | €14,805 | €14,805 | = |
| Stocks30/36 | €14,805 | €14,805 | €14,805 | €14,805 | €14,805 | = |
| Amounts receivable within one year40/41 | €7,246 | €1,646 | €772 | €2,812 | €1,557 | ▼ 44.6% |
| Trade receivables40 | €7,246 | €1,646 | €772 | €2,812 | €1,557 | ▼ 44.6% |
| Cash at bank and in hand54/58 | €5,675 | €2,948 | €2,647 | €4,863 | €2,967 | ▼ 39.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €356,623 | €327,916 | €307,978 | €295,088 | €274,965 | ▼ 6.8% |
| Equity10/15 | -€55,776 | -€68,552 | -€65,778 | -€74,569 | -€87,816 | ▼ 17.8% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Profit (loss) carried forward14 | -€74,376 | -€87,152 | -€84,378 | -€93,169 | -€106,416 | ▼ 14.2% |
| Amounts payable17/49 | €412,399 | €396,468 | €373,756 | €369,657 | €362,781 | ▼ 1.9% |
| Amounts payable after more than one year17 | €232,743 | €211,335 | €190,777 | €168,665 | €145,472 | ▼ 13.8% |
| Financial debts170/4 | €232,743 | €211,335 | €190,777 | €168,665 | €145,472 | ▼ 13.8% |
| Amounts payable within one year42/48 | €179,656 | €185,133 | €182,979 | €200,992 | €217,309 | ▲ 8.1% |
| Current portion of amounts payable after more than one year42 | €20,633 | €21,408 | €21,082 | €22,112 | €23,193 | ▲ 4.9% |
| Trade debts44 | €1,603 | €4,000 | €2,886 | €1,705 | €3,685 | ▲ 116% |
| Suppliers440/4 | €1,603 | €4,000 | €2,886 | €1,705 | €3,685 | ▲ 116% |
| Taxes, remuneration and social security45 | €1,282 | €1,280 | €1,798 | €1,412 | €2,097 | ▲ 48.5% |
| Taxes450/3 | €1,282 | €1,280 | €1,798 | €1,412 | €2,097 | ▲ 48.5% |
| Other amounts payable47/48 | €156,138 | €158,445 | €157,213 | €175,763 | €188,334 | ▲ 7.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€1,706 | -€12,776 | €2,774 | -€8,791 | -€13,247 | ▼ 50.7% |
| + Depreciation and write-downs630 | €20,162 | €20,380 | €18,763 | €17,146 | €16,972 | ▼ 1.0% |
| Operating cash flow (approximation) | €18,457 | €7,604 | €21,537 | €8,355 | €3,725 | ▼ 55.4% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€2,727 | -€302 | €2,216 | -€1,896 | ▼ 186% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
13-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 13 days late
2025
27-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 27 days late
2024
31-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 31 days late
2023
31-12
Financial
Back to profitnet €2,774
Net result €2,774 after 4 loss-making years.
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
31-12
Financial
Weakest financial yearnet -€14,185
Net result drops to -€14,185, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 31 days late
2019
13-11
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 105 days late
20-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 416 days late
2017
03-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
No directors read yet: 0 of 3 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Mouscron · 1 establishment unit since 2013
Ground area
1,812 m²
Building footprint
176 m²
Parcel 54007B0635/00F000, Wallonia. Linked by address, not a title deed.
1 establishment unit
PASSION ENGINEERING
since 20132.216.845.225
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 54007B0635/00F000 | Wallonia | 1,812 m² | 1 · 176 m² | - |
Linked by address, not proof of ownership
Good to know
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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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 7,377 companies in this sector we hold annual accounts for 2,963. See the whole sector
Company details
Identification
Legal formPrivate limited company
Founded23-01-2013
Fiscal year end31-12
Activities, NACEBEL 2025
95311General maintenance and repair of cars and light vans (up to 3.5 tonnes)
95313Repair and fitting of specific motor vehicle parts
Contact
E-invoicing
Reachable via Peppol
Peppol ID
0208:0502956975
Registered
05-01-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.