CONTEXT
ActiveSummary
CONTEXT has been active since 1987 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €12.4m and a net result of €54,022, of which €251,795 non-recurring income. Equity is growing by about 8.1% per year across the filed financial years. Its solvency ranks better than 68% of 5,019 sector peers (NACE 47, financial year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Overview
- Equity
- €12.4m
- Profit
- €54,022
- Holdings
- 2
Why 85raises riskLiquidity: current ratio 2.96, cash €56,115Last filed accounts filed 83 days late; 3 of the last 3 latelowers riskFounded in 1987Size: total assets €23.2mShow the evidence
Checked score
About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 47, medium-sized): better than 78% on solvency, 72% on liquidity, 25% on profitability and 40% on growth.
The bankruptcy probability was computed on 27-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 7 accounts on average 55 days after the deadline; the sector median (NACE 47) for financial year 2024 is on the deadline day, and 47% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · full…
- Annual accounts filedfinancial year 2024 · abbreviated…
- Capital & shares · RestructuringResignation: MPH Factory (bestuurders) ·…
Financials · financial year 2025, full format
2025 annual accounts filed late (83 days) Filed on 22 October 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00566294.
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result has fallen two years in a row; 2025 is 18% below 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 47, Retail trade: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
- 2024 Net result -99% on 2023. The previous financial year ran 23 months, this one 12.
- 2023 Net result +6,133% on 2022. This financial year ran 23 months, the previous one 12.
Peer companies
Historical observationOf the 1,887 companies that looked in July 2024 the way this one looks now, 0.1% went bankrupt within 24 months and 97.9% are still going.
- Medium-sized
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
For this company itself Checked computes a bankruptcy probability of 0.3% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,445 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 1,887 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €5.0m | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.09m | €0.09m | €0.09m | €0.08m | €0.5m | €0.4m | €0.4m | ▲ 1.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | -€0.2m | - | - | - |
| Other operating charges640/8 | - | - | - | €0.02m | €0.04m | €0.07m | €0.2m | ▲ 127% |
| Non-recurring operating charges66A | - | - | - | - | €0.2m | - | - | - |
| Gross operating margin9900 | €0.07m | €0.1m | €0.1m | €0.1m | €5.6m | €0.6m | €0.6m | ▲ 12.2% |
| Operating profit (loss)9901 | -€0.09m | €0.03m | -€0.01m | -€0.001m | €5.0m | €0.1m | €0.09m | ▼ 18.5% |
| Financial income75/76B | - | - | - | €0.1m | €0.2m | €0.2m | €0.4m | ▲ 169% |
| Recurring financial income75 | €0.2m | €0.1m | €0.07m | €0.1m | €0.2m | €0.2m | €0.2m | ▲ 10.6% |
| Non-recurring financial income76B | - | - | - | €0.002m | €1 | €4 | €0.3m | ▲ 69,175× |
| Financial charges65/66B | - | - | - | €0.03m | €0.04m | €0.2m | €0.2m | ▲ 7.0% |
| Recurring financial charges65 | €0.2m | €0.1m | €0.07m | €0.03m | €0.04m | €0.2m | €0.2m | ▲ 7.0% |
| Profit (loss) for the period before taxes9903 | -€0.07m | €0.05m | -€0.01m | €0.07m | €5.2m | €0.05m | €0.3m | ▲ 482% |
| Transfer from deferred taxes780 | - | - | - | - | €0.03m | €0.06m | €0.06m | ▲ 1.9% |
| Transfer to deferred taxes680 | - | - | - | - | €1.3m | - | €0.2m | - |
| Income taxes67/77 | €0.1m | €0.05m | - | €0.01m | €0.08m | €0.08m | €0.1m | ▲ 47.7% |
| Profit (loss) for the period9904 | -€0.2m | €0.005m | -€0.01m | €0.06m | €3.9m | €0.03m | €0.05m | ▲ 84.3% |
| Transfer from tax-exempt reserves789 | - | - | - | - | €0.09m | €0.2m | €0.2m | ▲ 1.9% |
| Transfer to tax-exempt reserves689 | - | - | - | - | €3.8m | - | €0.5m | - |
| Profit (loss) for the period to be appropriated9905 | -€0.2m | €0.005m | -€0.01m | €0.06m | €0.2m | €0.2m | -€0.3m | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €14.9m | €13.7m | €12.5m | €11.6m | €21.0m | €21.3m | €23.2m | ▲ 9.1% |
| Fixed assets21/28 | €9.6m | €9.6m | €9.5m | €9.4m | €15.6m | €16.3m | €17.6m | ▲ 7.8% |
| Intangible fixed assets21 | - | - | - | - | - | €0.07m | €0.07m | ▼ 10.0% |
| Tangible fixed assets22/27 | €3.0m | €2.9m | €2.8m | €2.8m | €8.7m | €8.4m | €10.3m | ▲ 23.0% |
| Land and buildings22 | - | - | - | €1.1m | €6.0m | €5.8m | €7.9m | ▲ 36.2% |
| Plant, machinery and equipment23 | - | - | - | €0.03m | €0.03m | €0.03m | €0.03m | ▲ 14.4% |
| Other tangible fixed assets26 | - | - | - | - | €2.7m | €2.5m | €2.3m | ▼ 7.5% |
| Assets under construction and advance payments27 | - | - | - | €1.7m | - | - | - | - |
| Financial fixed assets28 | €6.6m | €6.6m | €6.6m | €6.6m | €6.9m | €7.9m | €7.2m | ▼ 8.2% |
| Current assets29/58 | €5.3m | €4.1m | €3.0m | €2.2m | €5.4m | €5.0m | €5.7m | ▲ 13.2% |
| Amounts receivable after more than one year29 | - | - | - | - | - | €0.6m | €0.6m | = |
| Other amounts receivable291 | - | - | - | - | - | €0.6m | €0.6m | = |
| Amounts receivable within one year40/41 | €5.0m | €2.5m | €2.4m | €2.0m | €4.9m | €3.6m | €3.9m | ▲ 8.8% |
| Trade receivables40 | - | - | - | €0.3m | €1.5m | €1.5m | €0.04m | ▼ 97.5% |
| Other amounts receivable41 | - | - | - | €1.7m | €3.3m | €2.1m | €3.9m | ▲ 86.8% |
| Current investments50/53 | €0.03m | €0.03m | €0.03m | €0.03m | €0.09m | €0.2m | €0.4m | ▲ 63.1% |
| Cash at bank and in hand54/58 | €0.009m | €1.1m | €0.005m | €0.02m | €0.02m | €0.002m | €0.06m | ▲ 28× |
| Deferred charges and accrued income490/1 | - | - | - | €0.2m | €0.4m | €0.5m | €0.7m | ▲ 26.2% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €14.9m | €13.7m | €12.5m | €11.6m | €21.0m | €21.3m | €23.2m | ▲ 9.1% |
| Equity10/15 | €8.4m | €8.4m | €8.4m | €8.4m | €12.3m | €12.4m | €12.4m | ▲ 0.4% |
| Contributions10/11 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Capital10 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Issued capital100 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Reserves13 | €0.01m | €0.01m | €0.01m | €0.01m | €3.7m | €3.5m | €3.8m | ▲ 9.4% |
| Non-distributable reserves130/1 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Legal reserve130 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Tax-exempt reserves132 | - | - | - | - | €3.7m | €3.5m | €3.8m | ▲ 9.5% |
| Distributable reserves133 | - | - | - | €0.004m | €0.004m | €0.004m | €0.004m | = |
| Profit (loss) carried forward14 | €8.3m | €8.3m | €8.3m | €8.3m | €8.6m | €8.8m | €8.5m | ▼ 3.1% |
| Provisions and deferred taxes16 | €0.1m | €0.1m | €0.1m | €0.1m | €1.4m | €1.3m | €1.4m | ▲ 8.4% |
| Provisions for liabilities and charges160/5 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Pensions and similar obligations160 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Deferred taxes168 | - | - | - | - | €1.2m | €1.2m | €1.3m | ▲ 9.5% |
| Amounts payable17/49 | €6.4m | €5.1m | €3.9m | €3.0m | €7.3m | €7.7m | €9.4m | ▲ 23.1% |
| Amounts payable after more than one year17 | €2.0m | €1.8m | €1.8m | €1.6m | €6.1m | €5.8m | €7.2m | ▲ 25.3% |
| Financial debts170/4 | - | - | - | €1.6m | €6.1m | €5.8m | €7.2m | ▲ 25.3% |
| Amounts payable within one year42/48 | €4.1m | €3.0m | €1.8m | €1.1m | €1.0m | €1.6m | €1.9m | ▲ 17.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | ▼ 17.2% |
| Trade debts44 | €0.2m | €0.1m | €0.2m | €0.2m | €0.07m | €0.4m | €0.5m | ▲ 20.3% |
| Suppliers440/4 | - | - | - | €0.1m | €0.07m | €0.4m | €0.5m | ▲ 20.3% |
| Bills of exchange payable441 | - | - | - | €0.06m | - | - | - | - |
| Advances received on contracts in progress46 | - | - | - | €0.002m | - | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €0.01m | €0.1m | €0.2m | €0.2m | ▲ 18.2% |
| Taxes450/3 | - | - | - | €0.01m | €0.1m | €0.2m | €0.2m | ▲ 18.2% |
| Other amounts payable47/48 | - | - | - | €0.7m | €0.5m | €0.7m | €0.9m | ▲ 31.1% |
| Accrued charges and deferred income492/3 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | ▲ 6.4% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€0.2m | €0.005m | -€0.01m | €0.06m | €3.9m | €0.03m | €0.05m | ▲ 84.3% |
| + Depreciation and write-downs630 | €0.09m | €0.09m | €0.09m | €0.08m | €0.5m | €0.4m | €0.4m | ▲ 1.6% |
| Operating cash flow (approximation) | -€0.09m | €0.09m | €0.08m | €0.1m | €4.4m | €0.4m | €0.5m | ▲ 7.2% |
| Investment in fixed assets (approximation) | - | -€0.05m | -€0.006m | -€0.001m | -€6.7m | -€1.1m | -€1.7m | ▼ 57.2% |
| Change in cash | - | €1.1m | -€1.1m | €0.02m | -€0.008m | -€0.01m | €0.05m | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 36 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | full format | 22-10-2026 | 2026-00566294 |
| 31-12-2024 | abbreviated format | 27-10-2025 | 2025-00551621 |
| 31-12-2023 | abbreviated format | 22-10-2024 | 2024-00512621 |
| 31-01-2022 | abbreviated format | 20-10-2022 | 2022-20470848 |
| 31-01-2021 | abbreviated format | 28-10-2021 | 2021-74100122 |
| 31-01-2020 | abbreviated format | 29-09-2020 | 2020-57000077 |
| 31-01-2019 | abbreviated format | 26-08-2019 | 2019-50600132 |
| 31-01-2018 | abbreviated format | 27-09-2018 | 2018-65300336 |
| 31-01-2017 | abbreviated format | 02-10-2017 | 2017-65500530 |
| 31-01-2016 | abbreviated format | 06-01-2017 | 2017-00500191 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| MPH FACTORY |
|
Owners and capital
Owners
No owners or capital events in the accounts and acts we read.
Group and network
Holdings and subsidiaries
2 holdingsHoldings 2
Source for every holding own accounts 2025
- Equity €585,554Result -€16,34250%
- Equity €13.0mResult -€251,31640.38%
Stated earlier (1)
An older source named these holdings; newer accounts no longer list them.
-
100%
According to the 2025 annual accounts of CONTEXT and those of the other companies, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not include these statements in its annual accounts, or does not have to, is not listed.
Connections & network
The board mandates are listed below; here you explore them as a network.
Board mandates elsewhere
2 board mandatesAcquisitions and mergers
1 transactionHistory
Acts, filings and financial milestones
02-09
Gazette deed
Capital & shares · RestructuringResignation: MPH Factory (bestuurders) · Merger · Shareholding15 facts ▸
- General meeting, 12-08-2025
- Merger, “met fusie door overneming gelijkgestelde verrichting, de overnemende vennootschap geniet er het voordeel van, respectievelijk instaat voor de vereffening ervan” (deed in Dutch)
- Shareholding
- Share cancellation, “ingetrokken en vernietigd, fusie door overneming” (deed in Dutch)
- Declaration, “geen nieuwe aandelen uitgegeven, artikel 12:57 van het Wetboek van vennootschappen en verenigingen” (deed in Dutch)
- Declaration, “geen bevoorrechte aandelen of effecten waaraan bijzondere rechten werden toegekend” (deed in Dutch)
- Declaration, “geen bijzondere voordelen toegekend aan de bestuurders van de fuserende vennootschappen” (deed in Dutch)
- Custody of records, “het archief van de over te nemen vennootschappen omvattende alle boeken en bescheiden die zij wettelijk verplicht zijn te houden en te bewaren” (deed in Dutch)
- Declaration, “pand op aandelen, de over te nemen vennootschappen verklaren dat hun respectieve aandelen niet in pand werden gegeven” (deed in Dutch)
- Accounting effect, “boekhoudkundige verwerking, de overgegane actief- en passiefbestanddelen van de over te nemen vennootschappen worden in de boekhouding van de overnemende vennoo…” (deed in Dutch)
- Power of attorney, LAUREYS Tim
- Power of attorney
- +3 further facts in this act
11-06
Gazette deed
RestructuringMerger · Shareholding · Accounting effect4 facts ▸
- Merger, “met fusie door overneming gelijkgestelde verrichting, art.12:50 WVV” (deed in Dutch)
- Shareholding
- Accounting effect, 31-12-2024
- Other provision, “bijzondere voordelen bestuursorganen” (deed in Dutch)
24-04
Gazette deed
Registered officeRegistered-office move2 facts ▸
- Board meeting, 01-02-2024
- Registered-office move, 9940 EVERGEM,Noorwegenstraat 17
Show earlier events
About the unread acts
Of the 9 Belgian Official Gazette deeds we know for this company, 3 have been read. The other 6 have not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 44019B0621/00A000 | Flanders | 1.1 ha | 1 · 5,967 m² | 15.2 m · 3 |
How the parcels are linked
Articles of association
- PurposeThe activities the company may carry out under its articles.
- “De aankoop,verkoop,fabricatie,invoer en uitvoer van textielwaren en lederwaren,fantasiejuwelen en accessoires en alle aanverwante producten…” (deed in Dutch)deed of 11-06-2025
12 activities (deed in Dutch)
- De aankoop,verkoop,fabricatie,invoer en uitvoer van textielwaren en lederwaren,fantasiejuwelen en accessoires en alle aanverwante producten van welke aard ook.
- Het aanleggen en oordeelkundig uitbouwen en beheren van een roerend vermogen,alle verrichtingen met betrekking tot roerende goederen en rechten,van welke aard dan ook.
- Zoals het verwerven door inschrijving of aankoop en het beheren van aandelen,obligaties,kasbons of andere roerende waarden,van welke vorm ook,van Belgische of buitenlandse,bestaande of nog op te richten rechtspersonen en ondernemingen.
- Het aanleggen,het oordeelkundig uitbouwen en beheren van een onroerend vermogen,alle verrichtingen met betrekking tot onroerende goederen en onroerende zakelijke rechten,zoals de huurfinanciering van onroerende goederen aan derden,het aankopen,verkopen,ruilen,renoveren,promoten,bouwen,verbouwen,onderhouden,verhuren,huren,verkavelen,prospecteren en uitbaten van onroerende goederen.
- De aankoop en verkoop,huur en verhuur van roerende goederen,alsmede alle handelingen die rechtstreeks of onrechtstreeks met dit voorwerp in verband staan en die van aard zijn de opbrengst van de roerende en onroerende goederen te bevorderen,alsmede zich borg te stellen voor het goede verloop van verbintenissen door derden aangegaan die het genot zouden hebben van deze roerende en onroerende goederen.
- Zij mag voor eigen rekening of voor rekening van derden alle handelingen verrichten die van aard zijn er de verwezenlijking of de uitbreiding van te vergemakkelijken.
- De Vennootschap zal daarenboven als voorwerp het optreden als studie-,organisatie-,en raadgevend bureau inzake vermogensbeheer hebben met uitzondering van die vermogensbeheeractiviteiten bedoeld in artikel 157 van de Wet van 4 december 1990.
- Tevens kan de Vennootschap optreden als raadgever voor derden betreffende de voormelde activiteiten en meer in het algemeen inzake organisatie van ondernemingen,verrichtingen en algemeen beleid.
- Daartoe kan zij adviezen verlenen van financiële,technische,commerciële of administratieve aard.
- Zij zal door middel van inbreng,versmelting,inschrijving of om het even welke andere wijze,mogen deelnemen aan alle ondernemingen,verenigingen,vennootschappen,die een gelijksoortig of bijhorend voorwerp nastreven of die eenvoudig wettig zijn tot de algehele of gedeeltelijke verwezenlijking van haar voorwerp.
- De Vennootschap mag alle leningen en kredietopeningen toestaan en kan zowel tot waarborg van eigen verbintenissen als tot waarborg van verbintenissen van derden borg stellen,onder meer door haar goederen in hypotheek of in pand te geven,inclusief de eigen handelszaak.
- De vennootschap zal in het algemeen alle commerciële,industriële,financiële,roerende en onroerende handelingen mogen verrichten in rechtstreeks of onrechtstreeks verband met haar voorwerp of welke van die aard zouden zijn dat zij het vergemakkelijken,inbegrepen het borgstellen ten overstaan van derden met het oog op commerciële en financiële verhandelingen van derden.
- Other provisionsOther rules from the articles that fall under none of the themes above.
- 1 more provision in the deed, see the deed of 02-09-2025
Read from the deeds: 2 provisions, deed of 02-09-2025