PASSION WORKS!
ActiveSummary
PASSION WORKS! has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3.32M and a net result of €733k. Equity is growing by ~25.7% per year across the filed fiscal years. Its solvency ranks better than 77% of 217 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (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
Profitability75▼-2
Solvency89▲+2
Growth67▲+5
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €260k at 30 days acceptable
Liquidity ample (current ratio 2.83 against 2.73 in 2024; short-term debt: 34.2% and cash: 47.1% of total assets), and 36% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
64%
Return on assets
14.1%
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 78
Relative position
BE, all sectors
reference
Sector 78
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
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 27-07-2026, 4 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
4 d early
2024
1 d early
2023
16 d early
2022
10 d early
2021
11 d early
2020
32 d early
2019
on the day
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€13.81M▲ 9.8%
2024 · €12.57M
2023: €12.71M
2024: €12.57M
2023 → 2025
EBIT margin
7.3%▼ 0.2pp
2024 · 7.5%
2023: 9.4%
2024: 7.5%
2023 → 2025
Net result
€733k▲ 5.0%
2024 · €698k
2018: €387k
2019: €506k
2020: €512k
2021: €248k
2022: €727k
2023: €897k
2024: €698k
2018 → 2025
Working capital
€3.25M▲ 30.5%
2024 · €2.49M
2018: €576k
2019: €1.06M
2020: €1.59M
2021: €1.76M
2022: €1.41M
2023: €1.98M
2024: €2.49M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€12.71M€12.57M▼ 1.1%€13.81M▲ 9.8%
Equity€1.86M-€1.44M▼ 22.7%€2.04M▲ 41.5%€2.59M▲ 26.9%€3.32M▲ 28.3%
Operating result€306k-€922k▲ 201%€1.19M▲ 29.5%€941k▼ 21.2%€1.00M▲ 6.8%
Net result€248k-€727k▲ 193%€897k▲ 23.5%€698k▼ 22.2%€733k▲ 5.0%
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 7% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €5.19M
Fixed assets
€167k ▼ 26.8%
Current assets
€5.02M ▲ 27.8%
Equity and liabilities €5.19M
Equity
€3.32M ▲ 28.3%
Debt
€1.87M ▲ 19.0%
Debt's share of the balance-sheet total falls from 37.8% to 36.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€1.07M▲
2024 · €1.00M
Cash flow
€800k▲
2024 · €761k
Current ratio
2.83▲
2024 · 2.73
Debt to equity
0.56▼
2024 · 0.61
ROE
22.1%▼
2024 · 27.0%
ROA
14.1%▼
2024 · 16.8%
Interest coverage
663.09▲
2024 · 558.49
Debt ≤ 1 year
€1.77M▲
2024 · €1.44M
Debt > 1 year
€94k▼
2024 · €126k
Income taxes
€282k▲
2024 · €265k
Staff costs
€12.24M▲
2024 · €11.01M
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 75 lines
Balance sheet
Code20242025
Assets
Total assets20/58€4.16M€5.19M▲
Fixed assets21/28€228k€167k▼
Intangible fixed assets21€2k€37▼
Tangible fixed assets22/27€226k€166k▼
Furniture and vehicles24€52k€30k▼
Other tangible fixed assets26€173k€137k▼
Financial fixed assets28€460€460=
Other financial fixed assets284/8€460€460=
Amounts receivable and cash guarantees285/8€460€460=
Current assets29/58€3.93M€5.02M▲
Amounts receivable after more than one year29€46k€24k▼
Other amounts receivable291€46k€24k▼
Amounts receivable within one year40/41€1.81M€2.55M▲
Trade receivables40€1.72M€2.37M▲
Other amounts receivable41€96k€183k▲
Current investments50/53€1.50M-
Other investments51/53€1.50M-
Cash at bank and in hand54/58€521k€2.44M▲
Deferred charges and accrued income490/1€46k€3k▼
Equity and liabilities
Total equity and liabilities10/49€4.16M€5.19M▲
Equity10/15€2.59M€3.32M▲
Contributions10/11€150k€150k=
Reserves13€563k€563k=
Non-distributable reserves130/1€15k€15k=
Reserves not available under the articles1311€15k€15k=
Tax-exempt reserves132€211k-
Distributable reserves133€337k€548k▲
Profit (loss) carried forward14€1.87M€2.61M▲
Amounts payable17/49€1.57M€1.87M▲
Amounts payable after more than one year17€126k€94k▼
Financial debts170/4€126k€94k▼
Credit institutions173€126k€94k▼
Amounts payable within one year42/48€1.44M€1.77M▲
Current portion of amounts payable after more than one year42€34k€34k▲
Trade debts44€209k€336k▲
Suppliers440/4€209k€336k▲
Taxes, remuneration and social security45€1.05M€1.40M▲
Taxes450/3€380k€466k▲
Remuneration and social security454/9€666k€938k▲
Other amounts payable47/48€151k-
Accrued charges and deferred income492/3€4k-
Income statement
Code20242025
Operating income70/76A€13.12M€14.47M▲
Turnover70€12.57M€13.81M▲
Other operating income74€552k€658k▲
Operating charges60/66A€12.18M€13.46M▲
Services and other goods61€1.10M€1.16M▲
Remuneration, social security and pensions62€11.01M€12.24M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€63k€67k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€-18k€-765▲
Other operating charges640/8€26k€3k▼
Operating profit (loss)9901€941k€1.00M▲
Financial income75/76B€25k€13k▼
Recurring financial income75€25k€13k▼
Income from financial fixed assets750-€266
Income from current assets751€25k€11k▼
Other financial income752/9€48€2k▲
Financial charges65/66B€2k€2k▲
Recurring financial charges65€2k€2k▲
Debt charges650€2k€2k▼
Other financial charges652/9€453€818▲
Profit (loss) for the period before taxes9903€963k€1.02M▲
Income taxes67/77€265k€282k▲
Taxes670/3€352k€282k▼
Tax adjustments and reversals of tax provisions77€87k-
Profit (loss) for the period9904€698k€733k▲
Transfer from tax-exempt reserves789€187k€211k▲
Profit (loss) for the period to be appropriated9905€886k€943k▲
Appropriation of the result
Profit (loss) to be appropriated9906€2.21M€2.82M▲
Profit (loss) brought forward from the previous period14P€1.32M€1.87M▲
Transfer to equity691/2€187k€211k▲
To other reserves6921€187k€211k▲
Profit to be distributed694/7€150k-
Return on contributions (dividend)694€100k-
Directors or managers695€50k-
Social balance
Average headcount (FTE)9087193.8190.1▼
The notes to these accounts (47 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
27-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
30-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
15-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Highest result since 2018net €897k ▲23.5%
Operating result €1.19M, net result €897k, both a record.
31-12
Financial
Equity above €2MEq €2.04M ▲41.5%
6 profitable years in a row build equity to €2.04M.
21-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
20-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Weakest financial yearnet €248k ▼51.5%
Net result drops to €248k, the lowest in the series; recovery starts the following year.
29-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Equity above €1MEq €1.10M ▲83.9%
2 profitable years in a row build equity to €1.10M.
17-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
15-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
18-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 18 days late
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, Nieuwerkerken (Limb.) · 5 establishment units since 2014
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.
Kerkstraat 813850 Nieuwerkerken (Limb.)Ground area
2.6 ha
Building footprint
4,686 m²
Volume, LiDAR
30,454 m³
6 parcels, Flanders · tallest building 28.1 m, ±5 floors. Linked by address, not a title deed.
5 establishment units
Passion Works!
since 20142.235.522.970
Passion Works! Interim & HR Services
since 20162.257.115.764
Passion Works!
since 20182.276.089.954
Passion Works!
since 20212.322.953.723
Passion Works!
since 20252.366.863.544
6 parcels
Flanders
6
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 73302C0109/00M000 | Flanders | 1.5 ha | 1 · 2,541 m² | 9.2 m · 1 fl. |
| 71004A0149/00P002 | Flanders | 7,595 m² | 1 · 169 m² | 9.8 m |
| 71053H0566/00B000 | Flanders | 2,061 m² | 1 · 1,131 m² | 21.2 m · 5 fl. |
| 71045C0269/00G000 | Flanders | 606 m² | 1 · 130 m² | 9.7 m · 3 fl. |
| 71024A0714/00L000 | Flanders | 453 m² | 1 · 378 m² | 4.0 m |
| 71402D1109/00A000 | Flanders | 419 m² | 1 · 337 m² | 28.1 m |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 5
6 of 6 parcels 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
2022 to 2025 · 9 entries · 23,958 EUR awarded · 23,958 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 3 | 3,872 EUR | 3,917 EUR |
| 2024 | 2 | 1,514 EUR | 1,469 EUR |
| 2023 | 3 | 4,256 EUR | 4,256 EUR |
| 2022 | 1 | 14,316 EUR | 14,316 EUR |
Schemes
Vlaamse ondersteuningspremie (VOP) voor werkgevers (uitdovend stelsel)
Individueel Maatwerk
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Vlaams opleidingsverlof (VOV)
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Of 1,014 companies in sector 78200 we hold annual accounts for 645. 185 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded10-10-2014
Fiscal year end31-12
Activities, NACEBEL 2025
78200Temporary employment agencies and other provision of personnel
70200Business and other management consultancy
Sources
Crossroads Bank for EnterprisesNational Bank · 11 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.
Contact details
4 entriesWebsite:www.passionworks.be
E-mail:john@passionworks.be
E-mail:sylvia@passionworks.be
Phone:013 / 42 00 00