Passion4Excellence
ActiveSummary
Passion4Excellence has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €2.40M and a net result of €1.64M. Equity is growing by ~13.6% per year across the filed fiscal years. Its solvency ranks better than 89% of 37956 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2024
89
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability100▲+7
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €210k at 30 days acceptable
Liquidity ample (current ratio 10.54 against 9.64 in 2023; short-term debt: 9.2% and cash: 5.8% of total assets), and 9.2% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Sector 70
lower
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
90.8%
Return on assets
62.2%
Age of the figures
21 mo
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 31-12-2024 was due by 31-07-2025 and was filed on 01-07-2025, 30 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
30 d early
2023
27 d early
2022
7 d early
2021
2 d early
2020
31 d early
2019
130 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€2.40M▲ 181%
2023 · €854k
2018: €423k
2019: €558k
2020: €631k
2021: €671k
2022: €795k
2023: €854k
2018 → 2024
Total assets
€2.64M▲ 180%
2023 · €946k
2018: €467k
2019: €601k
2020: €695k
2021: €741k
2022: €872k
2023: €946k
2018 → 2024
Net result
€1.64M▲ 677%
2023 · €212k
2018: €96k
2019: €135k
2020: €144k
2021: €136k
2022: €124k
2023: €212k
2018 → 2024
Working capital
€2.33M▲ 194%
2023 · €790k
2018: €385k
2019: €517k
2020: €598k
2021: €632k
2022: €770k
2023: €790k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€631k-€671k▲ 6.5%€795k▲ 18.5%€854k▲ 7.4%€2.40M▲ 181%
Operating result€190k-€165k▼ 13.0%€227k▲ 37.6%€268k▲ 17.9%€304k▲ 13.3%
Net result€144k-€136k▼ 5.5%€124k▼ 8.7%€212k▲ 70.7%€1.64M▲ 677%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2021 the operating result has climbed three years in a row; 2024 is 13% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €2.64M
Fixed assets
€75k ▲ 16.3%
Current assets
€2.57M ▲ 191%
Equity and liabilities €2.64M
Equity
€2.40M ▲ 181%
Debt
€244k ▲ 166%
Debt's share of the balance-sheet total falls from 9.7% to 9.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€315k▲
2023 · €276k
Cash flow
€1.65M▲
2023 · €219k
Current ratio
10.54▲
2023 · 9.64
Debt to equity
0.10▼
2023 · 0.11
ROE
68.5%▲
2023 · 24.8%
ROA
62.2%▲
2023 · 22.4%
Interest coverage
14.22▲
2023 · -9.28
Debt ≤ 1 year
€244k▲
2023 · €91k
Income taxes
€763k▲
2023 · €89k
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 · 2024 against 2023 · 49 lines
Balance sheet
Code20232024
Assets
Total assets20/58€946k€2.64M▲
Fixed assets21/28€64k€75k▲
Tangible fixed assets22/27€64k€75k▲
Furniture and vehicles24€5k€3k▼
Other tangible fixed assets26€59k€71k▲
Current assets29/58€882k€2.57M▲
Amounts receivable within one year40/41€59k€66k▲
Trade receivables40€41k€41k▲
Other amounts receivable41€18k€25k▲
Current investments50/53€642k€2.35M▲
Cash at bank and in hand54/58€176k€154k▼
Deferred charges and accrued income490/1€5k€3k▼
Equity and liabilities
Total equity and liabilities10/49€946k€2.64M▲
Equity10/15€854k€2.40M▲
Contributions10/11€6k€6k=
Reserves13€848k€2.39M▲
Non-distributable reserves130/1€2k€0▼
Reserves not available under the articles1311€2k€0▼
Distributable reserves133€846k€2.39M▲
Profit (loss) carried forward14€0€0=
Amounts payable17/49€92k€244k▲
Amounts payable within one year42/48€91k€244k▲
Trade debts44€16k€9k▼
Suppliers440/4€16k€9k▼
Taxes, remuneration and social security45€57k€215k▲
Taxes450/3€57k€212k▲
Remuneration and social security454/9€0€3k▲
Other amounts payable47/48€19k€20k▲
Accrued charges and deferred income492/3€180€188▲
Income statement
Code20232024
Non-recurring operating income76A€0-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€8k€11k▲
Other operating charges640/8€1k€2k▲
Non-recurring operating charges66A€0€526▲
Gross operating margin9900€277k€317k▲
Operating profit (loss)9901€268k€304k▲
Financial income75/76B€3k€2.13M▲
Recurring financial income75€3k€2.13M▲
Financial charges65/66B€-30k€22k▲
Recurring financial charges65€-30k€22k▲
Profit (loss) for the period before taxes9903€301k€2.41M▲
Income taxes67/77€89k€763k▲
Profit (loss) for the period9904€212k€1.64M▲
Profit (loss) for the period to be appropriated9905€212k€1.64M▲
Appropriation of the result
Profit (loss) to be appropriated9906€212k€1.64M▲
Transfer from equity791/2€153k€98k▼
Transfer to equity691/2€212k€1.64M▲
To other reserves6921€212k€1.64M▲
Profit to be distributed694/7€153k€98k▼
Return on contributions (dividend)694€153k€98k▼
The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
01-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2018net €1.64M ▲677%
Operating result €304k, net result €1.64M, both a record.
31-12
Financial
Equity above €2MEq €2.40M ▲181%
7 profitable years in a row build equity to €2.40M.
04-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
24-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
29-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
23-03
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Equity above €500kEq €558k ▲31.9%
2 profitable years in a row build equity to €558k.
21-11
State Gazette act
General meeting · Auditor appointment
Permanent representative
04-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
24-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
29-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
01-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
3 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, Brugge · 1 establishment unit since 2011
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.
Torhoutse Steenweg 5018200 BruggeGround area
920 m²
Building footprint
164 m²
Volume, LiDAR
1,249 m³
Parcel 31030A0272/00X005, Flanders · tallest building 10.7 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Passion4Excellence
since 20112.197.036.142
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31030A0272/00X005 | Flanders | 920 m² | 1 · 164 m² | 10.7 m · 3 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.
Recognitions · licences · registrations
Legal Entity Identifier
8755009IJBVPBNIFL129
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Of 5,699 companies in sector 70100 we hold annual accounts for 3,494. 1,504 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
Founded01-03-2011
Fiscal year end31-12
Activities, NACEBEL 2025
70100Activities of head offices
Sources
Crossroads Bank for EnterprisesNational Bank · 13 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.