PASSYST is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €668k and a net result of €63k. Equity is growing by ~39.7% per year across the filed fiscal years. Its solvency ranks better than 49% of 5527 sector peers (fiscal year 2025). The company has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The health score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
Credit advice for your own amount and term
Signals
Three signals. The signal on the left, the evidence on the right.
○neutral
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 12-08-2026, 12 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
12 d late
2024
15 d late
2023
29 d late
2022
16 d late
2021
27 d early
2020
48 d early
2019
1 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
23-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€668k▲ 10.5%
2024 · €604k
2019: €100k
2020: €125k
2021: €222k
2022: €277k
2023: €328k
2024: €604k
2019 → 2025
Net result
€63k▼ 77.1%
2024 · €276k
2019: €26k
2020: €25k
2021: €97k
2022: €55k
2023: €51k
2024: €276k
2019 → 2025
Total assets
€1.33M▼ 7.3%
2024 · €1.43M
2019: €195k
2020: €310k
2021: €460k
2022: €1.30M
2023: €1.28M
2024: €1.43M
2019 → 2025
Solvency
50.2%▲ 8.1pp
2024 · 42.1%
2019: 51.2%
2020: 40.2%
2021: 48.1%
2022: 21.3%
2023: 25.7%
2024: 42.1%
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€222k-€277k▲ 25.0%€328k▲ 18.5%€604k▲ 84.2%€668k▲ 10.5%
Operating result€58k-€78k▲ 34.8%€92k▲ 18.9%€91k▼ 1.3%€91k▼ 0.6%
Net result€97k-€55k▼ 42.8%€51k▼ 7.7%€276k▲ 440%€63k▼ 77.1%
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 1% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.33M
Fixed assets
€1.03M▼ 2.3%
Current assets
€296k▼ 21.3%
Equity and liabilities €1.33M
Equity
€668k▲ 10.5%
Debt
€662k▼ 20.2%
The debt ratio falls from 57.9% to 49.8%. Equity is higher and debt is lower.
Key figures and ratios
Solvency
50.2%▲
2024 · 42.1%
ROE
9.5%▼
2024 · 45.7%
ROA
4.8%▼
2024 · 19.3%
Debt
€662k▼
2024 · €830k
Debt ≤ 1 year
€308k▼
2024 · €360k
Debt > 1 year
€355k▼
2024 · €470k
Income taxes
€17k▼
2024 · €41k
Staff costs
€983▼
2024 · €1k
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€1.43M€1.33M▼
Fixed assets21/28€1.06M€1.03M▼
Tangible fixed assets22/27€93k€69k▼
Plant, machinery and equipment23€93k€69k▼
Furniture and vehicles24€75-
Financial fixed assets28€965k€965k=
Current assets29/58€376k€296k▼
Amounts receivable within one year40/41€99k€196k▲
Trade receivables40€99k€196k▲
Current investments50/53€30k€55k▲
Cash at bank and in hand54/58€244k€41k▼
Deferred charges and accrued income490/1€4k€4k=
Equity and liabilities
Total equity and liabilities10/49€1.43M€1.33M▼
Equity10/15€604k€668k▲
Contributions10/11€30k€30k=
Reserves13€276k€276k=
Distributable reserves133€276k€276k=
Profit (loss) carried forward14€298k€362k▲
Amounts payable17/49€830k€662k▼
Amounts payable after more than one year17€470k€355k▼
Financial debts170/4€470k€355k▼
Amounts payable within one year42/48€360k€308k▼
Current portion of amounts payable after more than one year42€113k€116k▲
Trade debts44€44k€43k▼
Suppliers440/4€44k€43k▼
Taxes, remuneration and social security45€52k€41k▼
Taxes450/3€52k€41k▼
Other amounts payable47/48€150k€107k▼
Income statement
Code20242025
Remuneration, social security and pensions62€1k€983▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€26k€24k▼
Other operating charges640/8€1k€1k▲
Gross operating margin9900€120k€117k▼
Operating profit (loss)9901€91k€91k▼
Financial income75/76B€253k€2k▼
Recurring financial income75€253k€2k▼
Financial charges65/66B€27k€13k▼
Recurring financial charges65€27k€13k▼
Profit (loss) for the period before taxes9903€317k€80k▼
Income taxes67/77€41k€17k▼
Profit (loss) for the period9904€276k€63k▼
Profit (loss) for the period to be appropriated9905€276k€63k▼
Appropriation of the result
Profit (loss) to be appropriated9906€571k€362k▼
Profit (loss) brought forward from the previous period14P€295k€298k▲
Transfer to equity691/2€273k-
To other reserves6921€273k-
The notes to these accounts (12 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
12-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 12 days late
05-08
State Gazette act
General meeting · Demerger
Net-asset statement · Capital decrease
2025
15-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 15 days late
2024
31-12
Financial
Highest result since 2019net €276k ▲440%
Net result €276k, the highest in the series.
31-12
Financial
Liquidity doublescurrent ratio 1.05
Current ratio from 0.49 to 1.05; short-term debt falls from €365k to €360k.
31-12
Financial
Equity above €500kEq €604k ▲84.2%
6 profitable years in a row build equity to €604k.
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 29 days late
2023
16-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 16 days late
2022
04-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Liquidity doublescurrent ratio 1.81
Current ratio from 0.90 to 1.81; short-term debt falls from €175k to €81k.
31-12
Financial
Equity above €200kEq €222k ▲77.7%
3 profitable years in a row build equity to €222k.
2020
14-12
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
30-06
Financial
Weakest financial yearnet €25k ▼4%
Net result drops to €25k, the lowest in the series; recovery starts the following year.
30-06
Financial
Equity above €100kEq €125k ▲25.1%
2 profitable years in a row build equity to €125k.
30-01
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
03-01
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
19-02
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 19 days late
2016
30-12
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 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, Büllingen · 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.
Mürringen,Zur runden Heide 244760 Büllingen1 establishment unit
PASSYST
since 20112.194.184.243
Similar companies · same sector, comparable size
OPEN MINDIT
BE 0809.165.288
Leopoldsburg · Eq €667k
AHF INVEST
BE 0541.339.281
Brecht · Eq €668k
LEWAX HOLDING
BE 1016.953.146
Thimister-Clermont · Eq €667k
De Smet Brussels Automotive
BE 0723.834.388
Halle · Eq €668k
BAVANOS
BE 0743.863.603
Kortrijk · Eq €668k
Of 24,728 companies in sector 64210 we hold annual accounts for 19,764. 13,370 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded08-12-2010
Fiscal year end31-12
Activities, NACEBEL
64200Holdings
64210Activities of holding companies
70100Activities of head offices
Sources
Crossroads Bank for EnterprisesNational Bank · 14 filings
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.