PASSUS-PROJECTS
ActivePASSUS-PROJECTS has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-236k) and a net result of €-300k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 6% of 9095 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
7
/ 100
Critical▼ -57 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability100▲+58
Solvency33▲+14
Growth32▼-46
Stability100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.5 against 1.04 in 2024), and equity is negative.
Credit advice for your own amount and term
Signals
Six 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 68
Relative position
BE, all sectors
reference
Sector 68
lower
← fewer bankruptcies
more bankruptcies →
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
-38%
Return on assets
-48.4%
Age of the figures
8 mo
raises risk · Negative equity
Equity is negative for financial year 2025: liabilities exceed assets. This is the trigger point of the alarm-bell procedure (Belgian CAC).
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€236k
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 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 · 8 filingsDeviation from the deadline
2025
28 d late
2024
7 d early
2023
47 d early
2022
9 d late
2021
47 d early
2020
50 d early
2019
42 d early
← 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
13-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€-236k
2024 · €64k
2018: €11k
2019: €11k
2020: €13k
2021: €-37k
2022: €54k
2023: €59k
2024: €64k
2018 → 2025
Total assets
€620k▼ 2.8%
2024 · €638k
2018: €79k
2019: €68k
2020: €61k
2021: €72k
2022: €155k
2023: €395k
2024: €638k
2018 → 2025
Net result
€-300k
2024 · €5k
2018: €-7k
2019: €151
2020: €2k
2021: €-50k
2022: €91k
2023: €5k
2024: €5k
2018 → 2025
Working capital
€-274k
2024 · €11k
2018: €7k
2019: €7k
2020: €11k
2021: €-47k
2022: €40k
2023: €20k
2024: €11k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€-37k-€54k€59k▲ 9.5%€64k▲ 9.3%€-236k
Operating result€-49k-€105k€14k▼ 86.7%€23k▲ 63.2%€-279k
Net result€-50k-€91k€5k▼ 94.4%€5k▲ 7.1%€-300k
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €279k after €23k in 2024, the lowest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €620k
Fixed assets
€350k▼ 7.5%
Current assets
€271k▲ 4.1%
Key figures and ratios
EBITDA
€-227k▼
2024 · €68k
Cash flow
€-248k▼
2024 · €50k
Solvency
-38.0%▼
2024 · 10.0%
Current ratio
0.50▼
2024 · 1.04
Quick ratio
0.36▼
2024 · 0.66
Debt / equity
-3.63▼
2024 · 8.97
ROE
127.1%▲
2024 · 8.5%
ROA
-48.4%▼
2024 · 0.8%
Interest coverage
-9.50▼
2024 · 4.42
Debt
€856k▲
2024 · €574k
Debt ≤ 1 year
€545k▲
2024 · €249k
Debt > 1 year
€306k▼
2024 · €325k
Income taxes
€0▼
2024 · €3k
Staff costs
€240k▲
2024 · €177k
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€638k€620k▼
Fixed assets21/28€378k€350k▼
Tangible fixed assets22/27€376k€348k▼
Land and buildings22€264k€246k▼
Plant, machinery and equipment23€29k€43k▲
Furniture and vehicles24€39k€24k▼
Leasing and similar rights25€44k€34k▼
Financial fixed assets28€2k€2k▲
Current assets29/58€260k€271k▲
Stocks and contracts in progress3€94k€76k▼
Stocks30/36€49k€76k▲
Contracts in progress37€46k€0▼
Amounts receivable within one year40/41€143k€186k▲
Trade receivables40€133k€169k▲
Other amounts receivable41€10k€17k▲
Cash at bank and in hand54/58€16k€483▼
Deferred charges and accrued income490/1€7k€9k▲
Equity and liabilities
Total equity and liabilities10/49€638k€620k▼
Equity10/15€64k€-236k▼
Contributions10/11€19k€19k=
Profit (loss) carried forward14€45k€-255k▼
Amounts payable17/49€574k€856k▲
Amounts payable after more than one year17€325k€306k▼
Financial debts170/4€325k€306k▼
Amounts payable within one year42/48€249k€545k▲
Current portion of amounts payable after more than one year42€22k€18k▼
Financial debts43€122k€118k▼
Credit institutions430/8€122k€118k▼
Trade debts44€70k€338k▲
Suppliers440/4€70k€338k▲
Taxes, remuneration and social security45€14k€26k▲
Taxes450/3€5k€3k▼
Remuneration and social security454/9€8k€23k▲
Other amounts payable47/48€22k€44k▲
Accrued charges and deferred income492/3-€6k
Income statement
Code20242025
Non-recurring operating income76A-€6k
Remuneration, social security and pensions62€177k€240k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€45k€52k▲
Other operating charges640/8€5k€9k▲
Non-recurring operating charges66A-€7k
Gross operating margin9900€250k€29k▼
Operating profit (loss)9901€23k€-279k▼
Financial income75/76B€732€3k▲
Recurring financial income75€732€3k▲
Financial charges65/66B€15k€24k▲
Recurring financial charges65€15k€24k▲
Profit (loss) for the period before taxes9903€8k€-300k▼
Income taxes67/77€3k€0▼
Profit (loss) for the period9904€5k€-300k▼
Profit (loss) for the period to be appropriated9905€5k€-300k▼
Appropriation of the result
Profit (loss) to be appropriated9906€45k€-255k▼
Profit (loss) brought forward from the previous period14P€40k€45k▲
Social balance
Average headcount (FTE)9087-4.0
The notes to these accounts (25 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
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 28 days late
2025
31-12
Financial
Weakest financial yearnet €-300k ▼5634%
Net result drops to €-300k, the lowest in the series.
24-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
14-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
09-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 9 days late
2022
31-12
Financial
Back to profitnet €91k
Net result €91k after one loss-making year.
31-12
Financial
Liquidity triplescurrent ratio 1.42
Current ratio from 0.52 to 1.42; short-term debt falls from €98k to €95k.
14-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
11-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
19-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Back to profitnet €151
Net result €151 after one loss-making year.
17-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
Financial milestoneNBB 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, Vosselaar · 1 establishment unit since 2017
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.
Heieinde 1292350 VosselaarGround area
709 m²
Building footprint
414 m²
Volume, LiDAR
2,081 m³
Parcel 13046C0512/00N000, Flanders · tallest building 8.6 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
PASSUS-PROJECTS
since 20172.262.943.385
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13046C0512/00N000 | Flanders | 709 m² | 1 · 414 m² | 8.6 m · 1 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.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 3 entries · 1,110 EUR awarded · 1,326 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 807 EUR | 807 EUR |
| 2024 | 1 | 0 EUR | 269 EUR |
| 2022 | 1 | 303 EUR | 250 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 1,286 companies in sector 68122 we hold annual accounts for 896. 499 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded21-02-2017
Fiscal year end31-12
Activities, NACEBEL
68122Development of non-residential building projects
43992Specialised construction activities
81220Other building cleaning and industrial cleaning
16110Sawmilling and planing of wood
43221Plumbing work
43222Installation of electric heating, air conditioning, cooling and ventilation
46832Wholesale of timber
47529Retail trade
Sources
Crossroads Bank for EnterprisesNational Bank · 8 filingsAddress and cadastre registers
Data from official sources, last processed on 12-09-2026. Scores and ratios are computed by Checked and are not a credit decision.