NORMAL SITUATION

PASSION DIAM

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Financial year 2025 · closed on 31/12/2025

Net result

-3,3 k €

+97.7% YoY

Gross margin

-20,8 k €

+88.1% YoY

Equity

1,6 M €

-0.2% YoY

Company — Normal situation.

Strike-off: 25 août 2026

What does PASSION DIAM do?

PASSION DIAM is a Private limited company incorporated in 2009.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0819.437.885

Incorporation

08/10/2009

Legal form

Private limited company

Contributed capital

18 600,00 €

Latest accounts

31/12/2025

Joint committees (2)

Signals

Solid equityGood liquidity

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 15 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2017		2015		2013		2012		2011		2010
Income statement
Gross margin	-20,8 k €	+88.1%	-174,6 k €	-988%	19,7 k €	+219%	6,2 k €	-98.9%	562,1 k €	+8.7%	517 k €	+42.9%	361,8 k €	+15.3%	313,7 k €	+392%	-107,6 k €	-105%	-52,4 k €		–		–		–		69,6 k €	+966%	-8 k €
EBITDA	-22,9 k €	+87.1%	-177,3 k €	-1180%	16,4 k €	+216%	5,2 k €	-99.1%	561,2 k €	+8.6%	516,5 k €	+43.4%	360,1 k €	+24.5%	289,2 k €	+365%	-108,9 k €	-49.9%	-72,7 k €	-171%	102,5 k €	+10.7%	92,5 k €	+26.6%	73,1 k €	+19.6%	61,1 k €	+780%	-9 k €
Operating result	-22,9 k €	+87.1%	-177,3 k €	-1180%	16,4 k €	+216%	5,2 k €	-99.1%	561,2 k €	+8.6%	516,5 k €	+43.4%	360,1 k €	+24.5%	289,2 k €	+365%	-108,9 k €	-45.7%	-74,8 k €	-187%	85,8 k €	+11.7%	76,8 k €	+29.8%	59,2 k €	+7.6%	55 k €	+683%	-9,4 k €
Net result	-3,3 k €	+97.7%	-144,5 k €	-478%	38,2 k €	+185%	13,4 k €	-97.6%	569,9 k €	+9.8%	519,1 k €	+45.6%	356,6 k €	+28.2%	278,1 k €	+440%	-81,8 k €	-4.3%	-78,4 k €	-256%	50,2 k €	+21.0%	41,5 k €	+41.7%	29,3 k €	-4.4%	30,6 k €	+412%	-9,8 k €
Balance sheet
Equity	1,6 M €	-0.2%	1,6 M €	-8.1%	1,8 M €	+2.2%	1,8 M €	+0.8%	1,7 M €	+48.8%	1,2 M €	+79.9%	649,6 k €	+122%	293 k €	+1865%	14,9 k €	-98.1%	793 k €	-7.0%	852,2 k €	+673%	110,2 k €	+60.4%	68,7 k €	+74.3%	39,4 k €	+350%	8,8 k €
Total assets	1,6 M €	-1.9%	1,7 M €	-7.4%	1,8 M €	-26.0%	2,5 M €	-5.8%	2,6 M €	-1.8%	2,7 M €	+56.7%	1,7 M €	+312%	410,8 k €	+557%	62,6 k €	-92.1%	794,6 k €	-87.6%	6,4 M €	-4.5%	6,7 M €	-14.3%	7,8 M €	+119%	3,6 M €	+1226%	269,4 k €
Cash	249,2 €	-100.0%	824,4 k €	+13.1%	728,7 k €	+49.6%	487,1 k €	+53.6%	317,2 k €	+44.8%	219,1 k €	+386%	45,1 k €	-35.5%	69,9 k €	+2127%	3,1 k €	-78.2%	14,4 k €	-71.0%	49,5 k €	+300%	12,4 k €	-47.4%	23,5 k €	-73.6%	89,2 k €	+508%	14,7 k €
Debts	6,7 k €	-80.9%	34,9 k €	+44.0%	24,2 k €	-96.5%	701,5 k €	-18.9%	864,6 k €	-41.7%	1,5 M €	+42.2%	1 M €	+784%	117,8 k €	+147%	47,7 k €	+2742%	1,7 k €	-100.0%	5,5 M €	-15.8%	6,6 M €	-15.0%	7,7 M €	+119%	3,5 M €	+1256%	260,7 k €

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 5 ended

Active mandates

BARAHIR

Director · since 03 décembre 2025 · 1031.034.180

Represented by Bert Wenes

Active

Ended mandates

Shrowen Shah

Manager · since 01 janvier 2018

Ended

KARAN RAJESH SHAH

Manager · since 15 février 2011

Ended

Karan Rajesh Shah

Manager

Ended

Karan Shah

Manager · until 31 décembre 2017

Ended

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	30/08/2026	30/06/2025	28/06/2024	29/06/2023	01/07/2022	01/07/2021
General meeting	28/08/2026	27/06/2025	27/06/2024	27/06/2023	27/06/2022	27/06/2021
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

16 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	28/08/2026	30/08/2026	Dutch	PDF
Abridged model	31/12/2024	27/06/2025	30/06/2025	Dutch	PDF
Abridged model	31/12/2023	27/06/2024	28/06/2024	Dutch	PDF
Abridged model	31/12/2022	27/06/2023	29/06/2023	Dutch	PDF
Abridged model	31/12/2021	27/06/2022	01/07/2022	Dutch	PDF
Abridged model	31/12/2020	27/06/2021	01/07/2021	Dutch	PDF
Abridged model	31/12/2019	27/06/2020	04/09/2020	Dutch	PDF
Micro model	31/12/2018	27/06/2019	03/07/2019	Dutch	PDF
Micro model	31/12/2017	27/06/2018	23/08/2018	Dutch	PDF
Abridged model	31/03/2017	27/09/2017	31/10/2017	Dutch	PDF
Full model	31/03/2016	27/09/2016	28/09/2016	Dutch	PDF
Full model	31/03/2015	28/09/2015	28/09/2015	Dutch	PDF
Full model	31/12/2013	26/05/2014	05/06/2014	Dutch	PDF
Full model	31/12/2012	27/06/2013	28/08/2013	Dutch	PDF
Abridged model	31/12/2011	27/06/2012	13/07/2012	Dutch	PDF
Abridged model	31/12/2010	27/06/2011	26/08/2011	Dutch	PDF

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 31/12/2025 · 1 active · 5 ended

Active mandates

BARAHIR

Director · since 03 décembre 2025 · 1031.034.180

Represented by Bert Wenes

Active

Ended mandates

Shrowen Shah

Manager · since 01 janvier 2018

Ended

KARAN RAJESH SHAH

Manager · since 15 février 2011

Ended

Karan Rajesh Shah

Manager

Ended

Karan Shah

Manager · until 31 décembre 2017

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Restructuring31/08/2026
Geruisloze fusie (universaliteit) - met fusie door overneming gelijkgestelde
PDF
Restructuring22/06/2026
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Mandates06/02/2026
MAATSCHAPPELIJKE ZETEL - ONTSLAGEN - BENOEMINGEN
PDF
Mandates07/07/2023
WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN
PDF
Registered office25/02/2019
MAATSCHAPPELIJKE ZETEL
PDF
Mandates10/01/2018
MAATSCHAPPELIJKE ZETEL - ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares04/01/2018
KAPITAAL - AANDELEN - BOEKJAAR
PDF
Registered office09/03/2017
MAATSCHAPPELIJKE ZETEL
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 2025-3,3 k €↑
2024
Annual accounts 2024-144,5 k €↓
2023
Annual accounts 202338,2 k €↑
2022
Annual accounts 202213,4 k €↓
2021
Annual accounts 2021569,9 k €↑
2020
Annual accounts 2020519,1 k €↑
2019
Annual accounts 2019356,6 k €↑
2018
Annual accounts 2018278,1 k €↑
2017
Annual accounts 2017-81,8 k €↓
2017
Annual accounts 2017-78,4 k €↓
2015
Annual accounts 201550,2 k €↑
2015
Name changePASSION DIAM
2013
Annual accounts 201341,5 k €↑
2012
Annual accounts 201229,3 k €↓
2011
Annual accounts 201130,6 k €↑
2010
Annual accounts 2010-9,8 k €
2010
Name changeFIRE STONE
08/10/2009
IncorporationPrivate 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

PASSION DIAM

Overview

What does PASSION DIAM 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

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline