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DE PAS

Active
Private limited company·Stukadoorswerk· 19 yrs active
Industrieweg 2 ·3840 Tongeren-Borgloon, Belgium
KBO/BCE: BE 0888.780.019
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Age19 yrs
Real estate1 parcel · 1,505 m²

Summary

Conclusion

the dossier summarised in one paragraph

The file of DE PAS contains 2 judicial reorganisations, as published in the Belgian State Gazette. The computed 12-month bankruptcy probability is 16.6% (high). The 2023 annual accounts show negative equity (€-96k) and a net result of €67k. The figures fluctuate too strongly year-on-year for a reliable trend projection.

Based on the State Gazette, CBE and 4 annual accounts.

Bankruptcy probability (12 mo)

Checked model v1 · free for everyone
16.6% High
0%0,5%1,5%4%10%≥25%
Judicial reorganisation on record +Annual accounts: weaker financial profile +Higher-failure-rate sector +

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Insolvency timeline

2 events
03-06-2021
Judicial reorganisation Plan homologation
Date: 27-05-2021 · Ondernemingsrechtbank Antwerpen · 20200003 · Publications in State Gazette ↗
24-11-2020
Judicial reorganisation Opening
Date: 13-11-2020 · Ondernemingsrechtbank Antwerpen · collectif · Publications in State Gazette ↗

Filing behaviour

From the deposit records, complete market-wide
Deadline passed, not yet counted as missing
The deadline for the year that closed on 31-12-2025 passed on 31-07-2026, 13 days ago. Our copy of the deposit register trails the National Bank (measured: median 14 days, p99 45 days), so we only call this filing missing from 45 days past the deadline.
Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 28-08-2025, 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.
How we compute the deadline
The year end is derived from 10 filed financial years, each closing on 31-12. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 31-12-2024, that is 31-07-2025.
Deadline per financial year
Year closed Due by Filed Variance Reference
31-12-2025 31-07-2026 nothing on record not filed -
31-12-2024 31-07-2025 28-08-2025 28 d late 2025-00429888
31-12-2023 31-07-2024 30-08-2024 30 d late 2024-00405258
31-12-2022 31-07-2023 29-08-2023 29 d late 2023-00369209
31-12-2021 31-07-2022 02-08-2022 2 d late 2022-20261420
31-12-2020 31-07-2021 18-08-2021 18 d late 2021-49400406
31-12-2019 31-07-2020 07-09-2020 38 d late 2020-51800200
31-12-2018 31-07-2019 30-10-2019 91 d late 2019-72700015
31-12-2017 31-07-2018 29-08-2018 29 d late 2018-57700104
31-12-2016 31-07-2017 17-08-2017 17 d late 2017-45200217
31-12-2015 31-07-2016 12-12-2016 134 d late 2016-69800314

Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.

Trust signals

1 signal
Earlier reorganisation (closed)
Involved in a judicial reorganisation procedure in the past. No current open procedure.

Administrative Flags

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Financials

TurnoverNot published (abbreviated filing)
EBIT marginNot published (abbreviated filing)
Net result€67k+525.8%
Working capital€-62k+53.9%

Annual accounts & ratios

Source: NBB · 2023
Annual accounts filed on 28-08-2025 with the NBB · fiscal year 2024 · micro
€-400k€-200k€0Operating result 2018: €-6k€-6kNet result 2018: €23k€23kOperating result 2020: €-331k€-331kNet result 2020: €-381k€-381kOperating result 2022: €18k€18kNet result 2022: €11k€11kOperating result 2023: €70k€70kNet result 2023: €67k€67k2018202020222023
Operating resultNet result
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
volatile Too volatile to project: the yearly deviation from the trend is ~79% of the level (threshold 35%). We therefore deliberately show no projection line.
€-400k€-200k€02018: €43k2020: €-360k2022: €-163k2023: €-96k2018202020222023
How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

EBITDA
€71k
+205.5% 18-23
Net profit
€67k
+525.8% 18-23
Cash flow
€67k
+322.4% 18-23
Total assets
€107k
+43.2% 18-23
Equity
€-96k
+40.9% 18-23
Working capital
€-62k
+53.9% 18-23
Employees (FTE)
0
- 18-23
Debt
€170k
-16.8% 18-23
Debt ≤ 1y
€164k
-19.4% 18-23
Debt > 1y
€37k
- 18-23
Current ratio
0.62
+82.8% 18-23
Quick ratio
0.62
+333.3% 18-23
Solvency
-89.7%
+58.8% 18-23
Debt / equity
-1.76
-40.8% 18-23
ROE
-69.3%
-959.7% 18-23
ROA
62.2%
+336.9% 18-23
Interest coverage
20.87
+705.9% 18-23
Figures by fiscal year
Fiscal year2023
Depositmicro
Revenue-
EBITDA€71k
Net profit€67k
Cash flow€67k
Staff costs-
Income taxes-
Dividends-
Total assets€107k
Equity€-96k
Debt€170k
of which ≤ 1y€164k
of which > 1y-
Working capital€-62k
Employees (FTE)-
Ratios (computed)
2023
Current ratio0.62
Quick ratio0.62
Working capital ratio-57.8%
Solvency-89.7%
Debt / equity-1.76
Long-term debt ratio-
Interest coverage20.87
Gross margin-
Net margin-
ROA62.2%
ROE-69.3%
EBITDA margin-
Days sales outstanding-
Days payable outstanding-
Inventory turnover-
Days inventory (DSI)-
Balance-sheet composition 2023
Full annual accounts
Filed balance sheet and income statement, exactly as deposited with the NBB.
Line item Code2023
Balance sheet, Assets
TOTAL ASSETS 20/58€107k
Fixed assets 21/28€5k
Tangible fixed assets 22/27€414
Financial fixed assets 28€5k
Current assets 29/58€102k
Stocks & contracts in progress 3€0
Amounts receivable within one year 40/41€99k
Cash & bank 54/58€4k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES 10/49€107k
Equity 10/15€-96k
Contributions / capital 10/11€191k
Reserves 13€2k
Accumulated profits (losses) 14€-289k
Provisions & deferred taxes 16€34k
Amounts payable 17/49€170k
Amounts payable within one year 42/48€164k
Trade debts payable within one year 44€75k
Income statement
Gross operating margin 9900€72k
Operating result 9901€70k
Financial income 75€102
Financial charges 65€3k
Result before taxes 9903€67k
Net result for the period 9904€67k
Result to be appropriated 9905€67k
You're seeing the latest fiscal year only. Unlock 3 prior years (figures + ratios) with a paid plan. See plans →
Ratios computed by Checked.

Health barometer

FY 2023 · computed
1 / 100 Critical
050100
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

Unlock the full score breakdown, per-year score history and the indicative credit limit from Kantoor S.

See plans →
Computed by Checked from the NBB filing for FY 2023 and an insolvency signal from the Belgian State Gazette. Indicative, not credit advice.

Structure & network

Locations & real estate

Registered office

from the Crossroads Bank
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.

Industrieweg 23840 Tongeren-Borgloon

Establishment units

1 location
DE PAS
Industrieweg 2, 3840 Tongeren-Borgloonde bouw van autowegen, straten en andere wegen en paden voor voertuigen en voetgangers (inclusief het plaatsen van vangrails)
since 20072.167.667.908
Physical sites registered in the Crossroads Bank for Enterprises (CBE).
Parcels1
Ground area1,505 m²
Buildings1
Building footprint565 m²
Volume (LiDAR)2,486 m³
Tallest building6.2 m · ±1 fl.

Real-estate footprint

Source: CBE × cadastre · address linking

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Flanders 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
73009B0449/00V000 Flanders 1,505 m² 1 · 565 m² 6.2 m · 1 fl.
Methodology
via registered seat: 1
1 of 1 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.

Publications

Lifecycle & Insolvency Signals

2 events from the State Gazette
03-06-2021
Judicial reorganisation Plan homologation
Date: 27-05-2021 · Ondernemingsrechtbank Antwerpen · 20200003 · Publications in State Gazette ↗
24-11-2020
Judicial reorganisation Opening
Date: 13-11-2020 · Ondernemingsrechtbank Antwerpen · collectif · Publications in State Gazette ↗

Time machine: BS events + macro context

2020-2026
COVID lockdownEnergiecrisisECB hikes20202021202220232024202520262020-11-24 · Judicial reorganisation · Opening2021-06-03 · Judicial reorganisation · Plan homologation
Macro context
2020-Q2/Q3 COVID lockdown
2022 energy crisis
2023-2024 ECB rate hikes
Legend
Bankruptcy
Interim / reorg
KBO event

Belgian State Gazette · acts

No structured acts for this company yet

That means one of two things: the company has published no company deeds, or its deeds are still queued for reading. The insolvency signals above come from a separate source; the KBO register is the second source and appears as the legal situation on this page.

Analysis

Snowflake analysis

financial profile on 5 axes
Health1Profitability0Solvency36Growth58Stability60
31 / 100

Fragile profile, watch profitability in particular.

All 5 axes are computed from data Checked has read.

Health 1
Profitability 0
Solvency 36
Growth 58
Stability 60

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Credit advice

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Should this customer buy amount X on invoice? Enter the amount and payment terms, you get an instant GREEN/AMBER/RED verdict, with a suggested ceiling and concrete conditions.

Based on official sources (NBB, CBE, State Gazette). Indicative, not credit advice.

Similar

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Comparable size, same sector
We hold annual accounts for 443 of the 3,994 companies in this sector. 396 of them are within a factor 10 of this company's equity.

Company registry

Company registry (CBE)

Crossroads Bank
Activities
Stukadoorswerk43310Stukadoorswerk43310Stukadoorswerk45410
Primary activity highlighted.
Names & trade names
Legal nameNL DE PAS
Registered office
Industrieweg 2
3840 Tongeren-Borgloon, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.