Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Negative equity NBB
More debt than assets in 4 of the last 4 fiscal years.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
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Busy address KBO
57 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
Passport Belgium from Brussel, company number BE0692691648, closed financial year 2025 with a result of € -6.5 million after tax. For that financial year Passport Belgium recorded a gross margin of € 5.1 million and equity of € -28.5 million. Compared with financial year 2024, the result moved from € -16.6 million to € -6.5 million. The company made a loss. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on April 10, 2026.
€ -28.5 million
▼ € 6.5 million vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -6.5 million
▲ 61 % less loss than in 2024
Profit after tax over the fiscal year.
€ 1.5 million
▲ 106% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -38.6 million.
Debts at end 2025
€ 113.7 million
€ 519,750 is repaid this year. At this pace the long-term loan is gone in ≈ 219 years.
€ 379,209
▼ 59% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 231,349
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 6,906,775 | - | - | - | |
| Gross margin | - | € 5,681,878 | € 4,709,696 | € 5,085,425 | ▲ 8% |
| Profit after taxes | € -2,175,174 | € -1,990,264 | € -16,584,461 | € -6,545,195 | ▲ € 10 million |
| Equity | € -3,403,021 | € -5,393,285 | € -21,977,745 | € -28,522,940 | ▼ € 6.5 million |
| Total debts | € 118,143,865 | € 116,908,163 | € 116,555,483 | € 120,876,850 | ▲ 4% |
| Cash | € 1,833,469 | € 1,933,837 | € 734,355 | € 1,515,443 | ▲ 106% |
| Land & buildings | € 112,145,915 | € 108,199,619 | € 93,112,195 | € 87,096,750 | ▼ 6% |
| Retained profit | € -13,464,521 | € -15,454,785 | € -32,039,245 | € -38,584,440 | ▼ € 6.5 million |
| Bank debt | € 117,250,000 | € 116,050,000 | € 113,322,972 | € 113,738,118 | |
| Balance sheet total | € 114,740,844 | € 111,514,879 | € 94,577,737 | € 92,353,910 | ▼ 2% |
Key figures of Passport Belgium, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to Passport Belgium?
What happened at Passport Belgium in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- CSC Financial Services (Belgium) SRL stepped down as director. NBB
- Dimitri Boyer stepped down as director. NBB
- CSC Global Solutions (BELGIUM) SRL stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 6.5 million. Source: NBB ↗
- CSC Financial Services (Belgium) SRL became a director. NBB
- Dimitri Boyer became a director. NBB
- CSC Global Solutions (BELGIUM) SRL became a director. NBB
- New establishment in Brussel. KBO
In short
From € 2.2 million loss in 2022 to € 6.5 million loss in 2025.
A new publication or filing at Passport Belgium? We notify you, reason included.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The shares are held by Passport Luxembourg SARL (100%) and UP Europe Private Real Estate Fund I (0%).
Directors
According to the 2025 annual accounts
Dimitri Boyer
Administrateur
since 2025 · until 2031
CSC Financial Services (Belgium) SRL
Administrateur · represented by Christophe Tans
Also active at: CPIV, CPIS, Auto ABS Belgium Loans 2019, MERCURIUS FUNDING, CPIW, DSFB, Avocent Belgium Limited, Magritte CMBS +1 more
since 2025 · until 2031
CSC Global Solutions (BELGIUM) SRL
Administrateur · represented by Irène Florescu
Also active at: HUDSON GLOBAL RESOURCES BELGIUM, ROSPA BELGIUM, PROLOGIS MEXICO HOLDING II (A), PROLOGIS MEXICO HOLDING (A), GELASE, CPIV, CPIS, Covent Garden JV General Partner +30 more
since 2023 · until 2029
Shareholders
Passport Luxembourg SARL
100%
UP Europe Private Real Estate Fund I
0%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Marnixlaan 23
1000 Brussel
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 57 companies are registered at this address.
All companies at this address →TELEFLEX MEDICAL
€ 18.7 million revenue · 2025
CUSHMAN & WAKEFIELD WINSSINGER TIE LEUNG
€ 218,925 revenue · 2024
Paardekooper België
Sunparks Oostduinkerke
€ 3.9 million revenue · 2025
CUSHMAN & WAKEFIELD BELGIUM
€ 14.4 million revenue · 2024
+52 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0692.691.648
- VAT number
- BE 0692.691.648
- Registered office
- Marnixlaan 23, 1000 Brussel
- Names & denominations
- Passport Belgium
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 19 March 2018
- Peppol
- Active · Active since 27 Jan 2026
- Activities · NACE
Verhuur en exploitatie van eigen of geleased residentieel onroerend goed, exclusief sociale woningen