POLISHING ADVANCED SYSTEMS
ActivePOLISHING ADVANCED SYSTEMS has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €116k and a net result of €4k. Equity remains stable across the filed fiscal years (±1.4% per year). Its solvency ranks better than 68% of 7931 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
74
/ 100
Healthy
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability71▲+3
Solvency88▲+8
Growth78=
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €8k at 30 days acceptable
Liquidity ample (current ratio 2.71 against 2.2 in 2024; short-term debt: 36.4% and cash: 10.1% of total assets), and 37.5% of the assets are financed with debt.
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 · 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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Sector 46
higher
← 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 2025Solvency, return and age of the figures
Solvency
62.5%
Return on assets
2%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 26-08-2026, 26 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
26 d late
2024
28 d late
2023
28 d late
2022
30 d late
2021
31 d late
2020
30 d late
2019
91 d late
← 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
17-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€116k▲ 3.3%
2024 · €112k
2018: €103k
2019: €106k
2020: €109k
2021: €109k
2022: €109k
2023: €110k
2024: €112k
2018 → 2025
Total assets
€186k▼ 8.4%
2024 · €203k
2018: €217k
2019: €206k
2020: €214k
2021: €245k
2022: €243k
2023: €176k
2024: €203k
2018 → 2025
Net result
€4k▲ 87.1%
2024 · €2k
2018: €689
2019: €3k
2020: €3k
2021: €14k
2022: €6k
2023: €2k
2024: €2k
2018 → 2025
Working capital
€116k▲ 6.7%
2024 · €108k
2018: €132k
2019: €122k
2020: €107k
2021: €109k
2022: €105k
2023: €109k
2024: €108k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€109k-€109k=€110k▲ 1.6%€112k▲ 1.8%€116k▲ 3.3%
Operating result€21k-€8k▼ 63.7%€4k▼ 49.1%€6k▲ 53.6%€7k▲ 24.1%
Net result€14k-€6k▼ 60.9%€2k▼ 68.2%€2k▲ 12.4%€4k▲ 87.1%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 24% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €186k
Fixed assets
€3k▼ 38.0%
Current assets
€183k▼ 7.7%
Equity and liabilities €186k
Equity
€116k▲ 3.3%
Debt
€70k▼ 22.9%
The debt ratio falls from 44.5% to 37.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€9k▲
2024 · €7k
Cash flow
€5k▲
2024 · €3k
Solvency
62.5%▲
2024 · 55.5%
Current ratio
2.71▲
2024 · 2.20
Quick ratio
0.74▲
2024 · 0.36
Debt / equity
0.60▼
2024 · 0.80
ROE
3.2%▲
2024 · 1.8%
ROA
2.0%▲
2024 · 1.0%
Interest coverage
8.13▲
2024 · 5.74
Debt
€70k▼
2024 · €90k
Debt ≤ 1 year
€68k▼
2024 · €90k
Income taxes
€2k▼
2024 · €3k
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€203k€186k▼
Fixed assets21/28€4k€3k▼
Tangible fixed assets22/27€4k€3k▼
Plant, machinery and equipment23€2k€2k▼
Furniture and vehicles24€2k€1k▼
Current assets29/58€199k€183k▼
Stocks and contracts in progress3€166k€133k▼
Stocks30/36€166k€133k▼
Amounts receivable within one year40/41€16k€31k▲
Trade receivables40€12k€27k▲
Other amounts receivable41€4k€4k▼
Cash at bank and in hand54/58€17k€19k▲
Equity and liabilities
Total equity and liabilities10/49€203k€186k▼
Equity10/15€112k€116k▲
Contributions10/11€6k€6k=
Reserves13€106k€110k▲
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€104k€108k▲
Amounts payable17/49€90k€70k▼
Amounts payable within one year42/48€90k€68k▼
Trade debts44€79k€57k▼
Suppliers440/4€79k€57k▼
Taxes, remuneration and social security45€186€186=
Taxes450/3€186€186=
Other amounts payable47/48€11k€11k=
Accrued charges and deferred income492/3-€2k
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1k€2k▲
Other operating charges640/8€528€544▲
Gross operating margin9900€8k€9k▲
Operating profit (loss)9901€6k€7k▲
Financial income75/76B€36€6▼
Recurring financial income75€36€6▼
Financial charges65/66B€1k€1k▼
Recurring financial charges65€1k€1k▼
Profit (loss) for the period before taxes9903€5k€6k▲
Income taxes67/77€3k€2k▼
Profit (loss) for the period9904€2k€4k▲
Profit (loss) for the period to be appropriated9905€2k€4k▲
Appropriation of the result
Profit (loss) to be appropriated9906€2k€4k▲
Transfer to equity691/2€2k€4k▲
To other reserves6921€2k€4k▲
The notes to these accounts (4 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
26-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 26 days late
2025
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 28 days late
2024
28-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 28 days late
2023
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 30 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 31 days late
2021
31-12
Financial
Highest result since 2018net €14k ▲376%
Operating result €21k, net result €14k, both a record.
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
2020
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 91 days late
2019
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 29 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 30 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
6 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, Geraardsbergen · 1 establishment unit since 2007
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.
Dagmoedstraat(Sch) 94B9500 Geraardsbergen1 establishment unit
polishing advanced systems
since 20072.158.656.311
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Of 470 companies in sector 46442 we hold annual accounts for 333. 221 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded05-01-2007
Fiscal year end31-12
Abbreviation FR
P.A.S.
Activities, NACEBEL
46442Wholesale trade
51442
47783Retail trade
47784Retail trade
52488
Sources
Crossroads Bank for EnterprisesNational Bank · 19 filings
Data from official sources, last processed on 16-09-2026. Scores and ratios are computed by Checked and are not a credit decision.