ACTIVE

PASAT

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Financial year 2025 · closed on 31/12/2025

Net result

21,4 k €

-72.2% YoY

Gross margin

14,8 k €

-76.7% YoY

Equity

5,7 M €

-2.0% YoY

What does PASAT do?

PASAT is a Public limited company incorporated in 1991. Its registered office is in Kruisem.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0444.817.749

Incorporation

07/08/1991

Legal form

Public limited company

Registered office

Eikendreef 1
9772 Kruisem · FlandreSee on map

Contributed capital

3 286 000,01 €

Latest accounts

31/12/2025

Joint committees (3)

14904
218
340

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	14,8 k €	-76.7%	63,5 k €	+251%	18,1 k €	-98.7%	1,4 M €	+464%	250,1 k €	-68.4%	790,7 k €	+14.6%	690,2 k €	+18.5%	582,3 k €	-31.0%	843,7 k €	+37.8%	612,1 k €	-18.3%	748,9 k €	-7.9%	813,6 k €	+3.0%	789,8 k €	+20.6%	655,1 k €	-8.7%	717,8 k €	+11.4%	644,2 k €	-1.9%	656,6 k €	+444%	120,8 k €	+42.6%	84,7 k €	+0.8%	84 k €
EBITDA	7,3 k €	-86.7%	55 k €	+626%	7,6 k €	-99.4%	1,3 M €	+693%	169,2 k €	-74.5%	663,7 k €	+25.8%	527,5 k €	+24.9%	422,2 k €	-38.0%	680,5 k €	+52.1%	447,5 k €	-20.3%	561,7 k €	-19.1%	694,4 k €	+2.6%	676,8 k €	+22.8%	551 k €	-4.0%	573,9 k €	+12.9%	508,4 k €	-6.9%	546,3 k €	+713%	67,2 k €	-6.7%	72,1 k €	+6.8%	67,5 k €
Operating result	-19,9 k €	-165%	30,7 k €	+195%	-32,4 k €	-103%	1,3 M €	+1201%	99,5 k €	-83.9%	616 k €	+82.2%	338,1 k €	+180%	120,5 k €	-68.0%	377 k €	+194%	128,1 k €	-42.6%	223 k €	-33.4%	334,9 k €	+54.9%	216,3 k €	+2.5%	211 k €	-33.1%	315,4 k €	+99.2%	158,3 k €	-17.5%	192 k €	+307%	47,2 k €	-18.7%	58 k €	+0.2%	57,9 k €
Net result	21,4 k €	-72.2%	77,1 k €	-69.3%	251,2 k €	-69.0%	809,1 k €	+968%	75,8 k €	-81.6%	411,6 k €	+52.9%	269,2 k €	+69.6%	158,7 k €	-58.1%	379,1 k €	+500%	-94,7 k €	-128%	336,6 k €	-2.3%	344,4 k €	+87.0%	184,2 k €	+6.6%	172,7 k €	-30.8%	249,5 k €	-21.6%	318,2 k €	+274%	85 k €	+171%	31,4 k €	-65.5%	90,8 k €	+19.0%	76,3 k €
Balance sheet
Equity	5,7 M €	-2.0%	5,9 M €	-1.5%	6 M €	-2.1%	6,1 M €	+8.3%	5,6 M €	-0.6%	5,6 M €	+7.9%	5,2 M €	-12.4%	6 M €	+2.7%	5,8 M €	+7.0%	5,4 M €	-3.5%	5,6 M €	+6.4%	5,3 M €	+7.0%	5 M €	+1.5%	4,9 M €	+3.7%	4,7 M €	+5.6%	4,5 M €	+7.7%	4,1 M €	+2.1%	4,1 M €	+0.8%	4 M €	+467%	710,6 k €
Total assets	5,8 M €	-2.7%	5,9 M €	-3.2%	6,1 M €	-5.6%	6,5 M €	+9.7%	5,9 M €	-2.8%	6,1 M €	+8.7%	5,6 M €	-11.3%	6,3 M €	+0.1%	6,3 M €	+6.8%	5,9 M €	-5.3%	6,2 M €	-0.3%	6,2 M €	-13.3%	7,2 M €	+23.8%	5,8 M €	+4.1%	5,6 M €	+5.6%	5,3 M €	+7.7%	4,9 M €	+13.8%	4,3 M €	+1.4%	4,3 M €	+373%	899,5 k €
Cash	10,7 k €	-93.6%	168,3 k €	+2526%	6,4 k €	-58.2%	15,3 k €	-97.2%	554,5 k €	-32.2%	817,7 k €	-18.8%	1 M €	+63.5%	615,9 k €	-55.2%	1,4 M €	+757%	160,4 k €	-71.0%	553,9 k €	+420%	106,5 k €	-72.2%	383,5 k €	+21.9%	314,5 k €	-51.8%	652,1 k €	+31.2%	497 k €	+62.2%	306,3 k €	+400%	61,2 k €	-70.8%	209,8 k €	-31.4%	306 k €
Debts	7,9 k €	-84.5%	50,9 k €	-67.4%	155,9 k €	-16.0%	185,5 k €	+173%	67,9 k €	-65.2%	195,3 k €	+75.8%	111,1 k €	+52.0%	73,1 k €	-66.3%	216,9 k €	+16.7%	185,9 k €	-40.5%	312,4 k €	-59.3%	767,4 k €	-49.2%	1,5 M €	+678%	194,1 k €	+43.4%	135,4 k €	-1.1%	136,9 k €	-42.4%	237,9 k €	+159%	91,8 k €	+11.8%	82,1 k €	+53.3%	53,6 k €
Other
Workforce	–		–		–		0,9 ETP		–		1,3 ETP	-31.6%	1,9 ETP	0.0%	1,9 ETP	0.0%	1,9 ETP	-5.0%	2,0 ETP	-28.6%	2,8 ETP	0.0%	2,8 ETP	+55.6%	1,8 ETP	0.0%	1,8 ETP	0.0%	1,8 ETP	0.0%	1,8 ETP	+50.0%	1,2 ETP	+71.4%	0,7 ETP		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 8 ended

Active mandates

Ann VAN BIERVLIET

Director

Active

Peter VAN BIERVLIET

Managing director

Active

Sabine MAHIEU

Director

Active

Ended mandates

Sabine MAHIEU

Managing director · since 01 janvier 2014

Ended

Ann VAN BIERVLIET

Director · since 08 juin 2012

Ended

BANDAMED

Director · since 30 mars 2007 · until 26 mai 2009 · 0426.925.407

Represented by Peter Van Biervliet

Ended

BANDAMED

Director · since 30 mars 2007 · 0426.925.407

Represented by Peter VAN BIERVLIET

Ended

At this address

Other companies at this address

Company	CBE no.
MAHAL● Active	0723.978.207
TAJ● Active	0723.664.738

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	29/05/2026	23/05/2025	05/06/2024	11/07/2023	01/07/2022	29/06/2021
General meeting	02/05/2026	02/05/2025	03/05/2024	05/05/2023	10/06/2022	11/06/2021
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

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	02/05/2026	29/05/2026	Dutch	PDF
Abridged model	31/12/2024	02/05/2025	23/05/2025	Dutch	PDF
Abridged model	31/12/2023	03/05/2024	05/06/2024	Dutch	PDF
Abridged model	31/12/2022	05/05/2023	11/07/2023	Dutch	PDF
Abridged model	31/12/2021	10/06/2022	01/07/2022	Dutch	PDF
Abridged model	31/12/2020	11/06/2021	29/06/2021	Dutch	PDF
Abridged model	31/12/2019	12/06/2020	31/07/2020	Dutch	PDF
Abridged model	31/12/2018	14/06/2019	31/07/2019	Dutch	PDF
Abridged model	31/12/2017	08/06/2018	27/07/2018	Dutch	PDF
Abridged model	31/12/2016	09/06/2017	28/07/2017	Dutch	PDF
Abridged model	31/12/2015	10/06/2016	05/07/2016	Dutch	PDF
Abridged model	31/12/2014	12/06/2015	28/08/2015	Dutch	PDF
Abridged model	31/12/2013	13/06/2014	28/08/2014	Dutch	PDF
Abridged model	31/12/2012	14/06/2013	29/08/2013	Dutch	PDF
Abridged model	31/12/2011	08/06/2012	29/08/2012	Dutch	PDF
Abridged model	31/12/2010	10/06/2011	29/08/2011	Dutch	PDF
Abridged model	31/12/2009	11/06/2010	27/08/2010	Dutch	PDF
Abridged model	31/12/2008	22/05/2009	09/06/2009	Dutch	PDF
Abridged model	31/12/2007	13/06/2008	07/08/2008	Dutch	PDF
Abridged model	31/12/2006	08/06/2007	03/07/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 M€

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 31/12/2025 · 3 active · 8 ended

Active mandates

Ann VAN BIERVLIET

Director

Active

Peter VAN BIERVLIET

Managing director

Active

Sabine MAHIEU

Director

Active

Ended mandates

Sabine MAHIEU

Managing director · since 01 janvier 2014

Ended

Ann VAN BIERVLIET

Director · since 08 juin 2012

Ended

BANDAMED

Director · since 30 mars 2007 · until 26 mai 2009 · 0426.925.407

Represented by Peter Van Biervliet

Ended

BANDAMED

Director · since 30 mars 2007 · 0426.925.407

Represented by Peter VAN BIERVLIET

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates30/01/2023
BENAMING - ONTSLAGEN - BENOEMINGEN - ALGEMENE VERGADERING
PDF
Capital / shares10/04/2019
KAPITAAL - AANDELEN
PDF
Mandates25/06/2018
ONTSLAGEN - BENOEMINGEN
PDF
Mandates06/01/2014
KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates09/01/2013
ONTSLAGEN - BENOEMINGEN - MAATSCHAPPELIJKE ZETEL
PDF
Mandates27/09/2012
ONTSLAGEN - BENOEMINGEN
PDF
Restructuring05/06/2009
MAATSCHAPPELIJKE ZETEL - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring24/03/2009
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF

Source: Belgian Official Gazette

Competition

Similar companies

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

See the Business plan

2025
Annual accounts 202521,4 k €↓
2024
Annual accounts 202477,1 k €↓
2023
Annual accounts 2023251,2 k €↓
2022
Annual accounts 2022809,1 k €↑
2022
Name changePASAT
2021
Annual accounts 202175,8 k €↓
2021
Name changeBANDAMED
2020
Annual accounts 2020411,6 k €↑
2019
Annual accounts 2019269,2 k €↑
2018
Annual accounts 2018158,7 k €↓
2017
Annual accounts 2017379,1 k €↑
2016
Annual accounts 2016-94,7 k €↓
2015
Annual accounts 2015336,6 k €↓
2014
Annual accounts 2014344,4 k €↑
2013
Annual accounts 2013184,2 k €↑
2012
Annual accounts 2012172,7 k €↓
2011
Annual accounts 2011249,5 k €↓
2010
Annual accounts 2010318,2 k €↑
2009
Annual accounts 200985 k €↑
2008
Annual accounts 200831,4 k €↓
2007
Annual accounts 200790,8 k €↑
2006
Annual accounts 200676,3 k €
07/08/1991
IncorporationPublic limited company

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

PASAT

Overview

What does PASAT do?

Trend over 20 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline