PASSIVE CONSTRUCT
ActiveSummary
PASSIVE CONSTRUCT has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€21,386) and a net result of -€510. Equity is shrinking by ~2.8% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 1.1% (low).
Financials · fiscal year 2025, micro schema
2021 to 2025, 5 fiscal years 2018 to 2025, 8 fiscal years
The operating result stays negative: a loss of €465 in 2025 against €451 in 2024; the loss grows and 2025 has the lowest result in the available series.
What the company sold each fiscal year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Point at or tap a year, or use the arrow keys on the chart, for the exact figures; the table below gives them all.
Peer companies
Historical observationOf the 1,216 companies that looked in July 2024 the way this one looks now, 1.2% went bankrupt within 24 months and 96% are still going.
- Small
- 10 to 20 years old
- negative equity
- a small loss
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.1% 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 497,472 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 1,216 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.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Other operating charges640/8 | - | - | - | - | - | €80 | - | - | - |
| Gross operating margin9900 | -€1,818 | -€455 | -€1,103 | -€402 | -€348 | -€384 | -€451 | -€465 | ▼ 3.2% |
| Operating profit (loss)9901 | -€1,818 | €10,545 | -€1,103 | -€402 | -€348 | -€464 | -€451 | -€465 | ▼ 3.2% |
| Financial charges65/66B | - | - | - | €349 | €382 | €52 | €45 | €45 | = |
| Recurring financial charges65 | €342 | €232 | €236 | €349 | €382 | €52 | €45 | €45 | = |
| Profit (loss) for the period before taxes9903 | -€2,160 | €10,313 | -€1,339 | -€752 | -€730 | -€517 | -€496 | -€510 | ▼ 2.9% |
| Profit (loss) for the period9904 | -€2,160 | €10,313 | -€1,339 | -€752 | -€730 | -€517 | -€496 | -€510 | ▼ 2.9% |
| Profit (loss) for the period to be appropriated9905 | -€2,160 | €10,313 | -€1,339 | -€752 | -€730 | -€517 | -€496 | -€510 | ▼ 2.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €880,940 | €520,864 | €521,026 | €531,844 | €531,849 | €533,967 | €534,038 | €533,705 | ▼ 0.1% |
| Current assets29/58 | €880,940 | €520,864 | €521,026 | €531,844 | €531,849 | €533,967 | €534,038 | €533,705 | ▼ 0.1% |
| Stocks and contracts in progress3 | €845,500 | €485,170 | €485,170 | €485,170 | €485,170 | €487,270 | €487,270 | €487,270 | = |
| Contracts in progress37 | - | - | - | €485,170 | €485,170 | €487,270 | €487,270 | €487,270 | = |
| Amounts receivable within one year40/41 | €35,350 | €35,674 | €35,674 | €46,674 | €46,674 | €46,350 | €46,350 | €46,350 | = |
| Trade receivables40 | - | - | - | €23,350 | €23,350 | €23,350 | €23,350 | €23,350 | = |
| Other amounts receivable41 | - | - | - | €23,324 | €23,324 | €23,000 | €23,000 | €23,000 | = |
| Cash at bank and in hand54/58 | €89 | €21 | €182 | - | €6 | €346 | €417 | €85 | ▼ 79.6% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €880,940 | €520,864 | €521,026 | €531,844 | €531,849 | €533,967 | €534,038 | €533,705 | ▼ 0.1% |
| Equity10/15 | -€27,356 | -€17,043 | -€18,382 | -€19,133 | -€19,863 | -€20,380 | -€20,876 | -€21,386 | ▼ 2.4% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Profit (loss) carried forward14 | -€45,956 | -€35,643 | -€36,982 | -€37,733 | -€38,463 | -€38,980 | -€39,476 | -€39,986 | ▼ 1.3% |
| Amounts payable17/49 | €908,296 | €537,907 | €539,407 | €550,977 | €551,712 | €554,347 | €554,913 | €555,092 | = |
| Amounts payable within one year42/48 | €908,296 | €537,907 | €539,407 | €550,977 | €551,712 | €554,347 | €554,913 | €555,092 | = |
| Financial debts43 | - | - | - | €5,615 | - | - | - | - | - |
| Credit institutions430/8 | - | - | - | €5,615 | - | - | - | - | - |
| Trade debts44 | €39,104 | €26,984 | €26,984 | €26,984 | €26,984 | €27,369 | €27,372 | €26,984 | ▼ 1.4% |
| Suppliers440/4 | - | - | - | €26,984 | €26,984 | €27,369 | €27,372 | €26,984 | ▼ 1.4% |
| Advances received on contracts in progress46 | - | - | - | €488,306 | €488,306 | €488,306 | €488,306 | €488,306 | = |
| Other amounts payable47/48 | - | - | - | €30,072 | €36,422 | €38,672 | €39,236 | €39,802 | ▲ 1.4% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€2,160 | €10,313 | -€1,339 | -€752 | -€730 | -€517 | -€496 | -€510 | ▼ 2.9% |
| Operating cash flow (approximation) | -€2,160 | €10,313 | -€1,339 | -€752 | -€730 | -€517 | -€496 | -€510 | ▼ 2.9% |
| Change in cash | - | -€68 | €161 | - | - | €341 | €71 | -€332 | ▼ 571% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.