NORMAL SITUATION

PASEC

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Financial year 2021 · closed on 31/12/2021

Net result

3,5 M €

+121.7% YoY

Revenue

20,2 M €

+11.2% YoY

Equity

6,9 M €

+96.5% YoY

Workforce

30,8 ETP

-63.2% YoY

Company — Normal situation.

What does PASEC do?

PASEC is a company registered in Belgium. It employs on average 30,8 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0418.314.082

Legal form

Public limited company

Contributed capital

1 985 139,91 €

Latest accounts

31/12/2021

Average workforce

30,8 ETP

Joint committees (2)

Signals

ProfitableSolid equityGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

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✦ Verdict · Analyst summary

Financials

Trend over 15 financial years

	2021		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Revenue	20,2 M €	+11.2%	18,2 M €	-40.7%	30,7 M €	-3.9%	31,9 M €	+12.3%	28,4 M €	+6.9%	26,6 M €	+1.0%	26,3 M €	+6.6%	24,7 M €	-2.0%	25,2 M €	-15.7%	29,9 M €	+1.0%	29,6 M €	+9.6%	27 M €	-21.5%	34,4 M €	-11.3%	38,8 M €	+21.9%	31,8 M €
EBITDA	3,9 M €	+233%	-2,9 M €	-35.0%	-2,1 M €	-12.2%	-1,9 M €	-2215%	-82,8 k €	-4295%	-1,9 k €	+97.6%	-77,2 k €	-128%	271,6 k €	-66.7%	815,4 k €	-34.7%	1,2 M €	-31.6%	1,8 M €	-29.3%	2,6 M €	+6.1%	2,4 M €	-13.5%	2,8 M €	+138%	1,2 M €
Operating result	3,7 M €	+211%	-3,3 M €	-34.6%	-2,5 M €	-0.2%	-2,5 M €	-323%	-583,8 k €	+4.3%	-610,2 k €	+23.4%	-796,1 k €	-5.6%	-754 k €	-552%	166,7 k €	-79.0%	794,9 k €	-40.8%	1,3 M €	-36.8%	2,1 M €	-1.6%	2,2 M €	-7.9%	2,3 M €	+206%	767,2 k €
Net result	3,5 M €	+122%	1,6 M €	+166%	-2,4 M €	+2.7%	-2,5 M €	-327%	-578,7 k €	+1.3%	-586,2 k €	+23.4%	-765,8 k €	-21.3%	-631,1 k €	-282%	346,4 k €	-61.8%	907,6 k €	-12.6%	1 M €	-34.0%	1,6 M €	+11.6%	1,4 M €	-12.9%	1,6 M €	+179%	579,2 k €
Balance sheet
Equity	6,9 M €	+96.5%	3,5 M €	-12.7%	4 M €	-37.4%	6,4 M €	-27.8%	8,9 M €	-6.1%	9,5 M €	-5.8%	10,1 M €	-7.1%	10,8 M €	-5.5%	11,5 M €	+3.1%	11,1 M €	+8.9%	10,2 M €	+11.3%	9,2 M €	+20.7%	7,6 M €	+22.8%	6,2 M €	+35.5%	4,6 M €
Total assets	8,5 M €	-32.6%	12,7 M €	-17.9%	15,4 M €	+9.1%	14,1 M €	+4.0%	13,6 M €	-1.0%	13,7 M €	-2.6%	14,1 M €	-4.5%	14,7 M €	-3.1%	15,2 M €	-1.7%	15,5 M €	+2.9%	15,1 M €	+10.8%	13,6 M €	+9.2%	12,4 M €	-13.5%	14,4 M €	-2.3%	14,7 M €
Cash	567,8 k €	+3162%	17,4 k €	-98.4%	1,1 M €	+69.8%	633,9 k €	-52.6%	1,3 M €	-17.3%	1,6 M €	-4.2%	1,7 M €	+3.8%	1,6 M €	-18.4%	2 M €	+87.4%	1,1 M €	-57.4%	2,5 M €	+0.1%	2,5 M €	+917%	245 k €	+32.3%	185,2 k €	+1543%	11,3 k €
Debts	1,6 M €	-80.6%	8,4 M €	-24.9%	11,2 M €	+49.8%	7,5 M €	+69.8%	4,4 M €	+10.0%	4 M €	+14.5%	3,5 M €	-4.0%	3,6 M €	+3.9%	3,5 M €	-4.5%	3,7 M €	-8.8%	4 M €	+12.2%	3,6 M €	-7.2%	3,9 M €	-46.6%	7,2 M €	-22.4%	9,3 M €
Other
Workforce	30,8 ETP	-63.2%	83,6 ETP	-42.4%	145,1 ETP	+22.6%	118,4 ETP	+5.2%	112,5 ETP	+4.2%	108,0 ETP	-4.1%	112,6 ETP	-4.9%	118,4 ETP	-8.6%	129,6 ETP	-0.5%	130,2 ETP	+3.3%	126,1 ETP	-1.0%	127,4 ETP	-8.6%	139,4 ETP	+0.4%	138,8 ETP	+6.1%	130,8 ETP

Governance

Board of directors

Seen on filing of 31/12/2021 · 2 active · 52 ended

Active mandates

FORESCO GROUP

Managing director · since 29 septembre 2020 · until 25 juin 2026 · 0738.732.204

Represented by Cédric De Quinnemar

Active

Jan Ponnet

Managing director · since 29 septembre 2020 · until 25 juin 2026

Active

Ended mandates

Corlignum BV

Director · since 31 mai 2019 · until 31 mai 2022

Represented by I.G.C. Faber

Ended

Faber Halbertsma Groep BV

Director · since 31 mai 2019 · until 31 mai 2022

Represented by Constantijn Marie Franciscus Peeters

Ended

Frederik Egbert Frank Faber

Director · since 31 mai 2019 · until 31 mai 2022

Ended

Frederik Egbert Frank Faber

Director · since 02 janvier 2018 · until 31 mai 2019

Ended

Annual accounts

Full financial information

	2021	2020	2019	2018	2017	2016
Type of account	Full model	Full model	Full model	m121-f-p	m121-f-p	m121-f-p
Start of the financial year	01/01/2021	01/01/2020	01/01/2019	01/01/2018	01/01/2017	01/01/2016
Closing of the financial year	31/12/2021	31/12/2020	31/12/2019	31/12/2018	31/12/2017	31/12/2016
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	23/05/2022	13/12/2021	28/04/2020	04/06/2019	24/07/2018	20/07/2017
General meeting	27/04/2022	24/06/2021	15/04/2020	20/05/2019	24/04/2018	11/05/2017
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

28 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2021	27/04/2022	23/05/2022	Dutch	PDF
Full modelCorrection	31/12/2020	24/06/2021	13/12/2021	Dutch	PDF
Full model	31/12/2020	24/06/2021	28/07/2021	Dutch	PDF
Full model	31/12/2019	15/04/2020	28/04/2020	Dutch	PDF
Full model	31/12/2018	31/05/2019	03/06/2019	Dutch	PDF
m121-f-p	31/12/2018	20/05/2019	04/06/2019	English	PDF
Full model	31/12/2017	31/05/2018	13/06/2018	Dutch	PDF
m121-f-p	31/12/2017	24/04/2018	24/07/2018	English	PDF
Full model	31/12/2016	26/05/2017	30/05/2017	Dutch	PDF
m121-f-p	31/12/2016	11/05/2017	20/07/2017	English	PDF
Full model	31/12/2015	26/05/2016	13/06/2016	Dutch	PDF
m121-f-p	31/12/2015	17/06/2016	20/07/2016	Dutch	PDF
Full model	31/12/2014	28/05/2015	01/06/2015	Dutch	PDF
m121-f-p	31/12/2014	01/06/2015	04/08/2015	Dutch	PDF
Full model	31/12/2013	02/06/2014	11/06/2014	Dutch	PDF
m121-f-p	31/12/2013	12/05/2014	25/06/2014	Dutch	PDF
Full model	31/12/2012	30/05/2013	05/06/2013	Dutch	PDF
m121-f-p	31/12/2012	21/05/2013	13/06/2013	Dutch	PDF
Full model	31/12/2011	31/05/2012	12/06/2012	Dutch	PDF
m121-f-p	31/12/2011	15/05/2012	12/06/2012	Dutch	PDF
Full model	31/12/2010	26/05/2011	31/05/2011	Dutch	PDF
m121-f-p	31/12/2010	09/05/2011	21/06/2011	Dutch	PDF
Full model	31/12/2009	27/05/2010	01/06/2010	Dutch	PDF
m121-f-p	31/12/2009	19/05/2010	02/11/2010	Dutch	PDF

View all 28 filings

Estimate

Indicative valuation

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2021 · 2 active · 52 ended

Active mandates

FORESCO GROUP

Managing director · since 29 septembre 2020 · until 25 juin 2026 · 0738.732.204

Represented by Cédric De Quinnemar

Active

Jan Ponnet

Managing director · since 29 septembre 2020 · until 25 juin 2026

Active

Ended mandates

Corlignum BV

Director · since 31 mai 2019 · until 31 mai 2022

Represented by I.G.C. Faber

Ended

Faber Halbertsma Groep BV

Director · since 31 mai 2019 · until 31 mai 2022

Represented by Constantijn Marie Franciscus Peeters

Ended

Frederik Egbert Frank Faber

Director · since 31 mai 2019 · until 31 mai 2022

Ended

Frederik Egbert Frank Faber

Director · since 02 janvier 2018 · until 31 mai 2019

Ended

Shareholders

Ownership and network

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Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2021
Annual accounts 20213,5 M €↑
2019
Annual accounts 20191,6 M €↑
2018
Annual accounts 2018-2,4 M €↑
2017
Annual accounts 2017-2,5 M €↓
2016
Annual accounts 2016-578,7 k €↑
2015
Annual accounts 2015-586,2 k €↑
2014
Annual accounts 2014-765,8 k €↓
2013
Annual accounts 2013-631,1 k €↓
2012
Annual accounts 2012346,4 k €↓
2011
Annual accounts 2011907,6 k €↓
2010
Annual accounts 20101 M €↓
2009
Annual accounts 20091,6 M €↑
2008
Annual accounts 20081,4 M €↓
2007
Annual accounts 20071,6 M €↑
2006
Annual accounts 2006579,2 k €

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

PASEC

Overview

What does PASEC do?

Trend over 15 financial years

Board of directors

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Similar companies

Similar companies

Timeline