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EXPLOITATIEMAATSCHAPPIJ MB

Active
Private limited companyfounded 20179 yrs activeMonnikenwerve 17-19, 8000 Brugge, BelgiumKBO/BCE: BE 0670.958.896
Summary

EXPLOITATIEMAATSCHAPPIJ MB has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €204,039 and a net result of €16,858. Equity is growing by ~7.7% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.7% (low).

Risk analysisWatch ReportCompare
EXPLOITATIEMAATSCHAPPIJ MBActiveChecked score 62/100
Risk analysis ReportCompare

Checked score

Score 2024
62 / 100
Healthy
Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability71▼-2
Solvency46▼-11
Growth52=
Track record100
Bankruptcy probability, 12 months
0.7% Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €12,000 at 30 days acceptable
Liquidity tight (current ratio 1.21 against 1.41 in 2023; short-term debt: 78.9% and cash: 29.3% of total assets), and 78.9% of the assets are financed with debt.
Credit check for your own amount and term

Show the recommended maximum : and see how the verdict changes with amount, term and advance.

Signals

Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 55
Relative position
BE, all sectors
reference
Accommodation (NACE 55)
about 6% more bankruptcies
← fewer bankruptcies more bankruptcies →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 12-06-2026, 49 days ahead of the deadline.
NBB · 8 filings
Deviation from the deadline
2025
49 d early
2024
9 d early
2023
33 d early
2022
32 d early
2021
18 d early
2020
17 d early
2019
55 d late
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 7 accounts on average 15 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 45% of the sector filed late.

Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 29 June (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Position in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

History

On 10 February 2017, EXPLOITATIEMAATSCHAPPIJ MB was incorporated.1 Total assets went from EUR 556,757 in 2018 to EUR 965,028 in 2024 and headcount from 11.3 to 10.9 full-time equivalents.2

  1. 1Crossroads Bank for Enterprises
  2. 2National Bank, annual accounts 2018 and 2024

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Investigating this company? Keep it with today's facts in a case file.

Financials · fiscal year 2024, abbreviated schema, 2025 accounts filed, figures not processed yet

Equity
€204,039▲ 9.0%
2023 · €187,181
Total assets
€965,028▲ 63.8%
2023 · €589,258
Net result
€16,858▼ 24.2%
2023 · €22,232
Working capital
€156,288▼ 6.0%
2023 · €166,332
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.

Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 55, Accommodation, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).

Every figure with its change against the fiscal year before
favourable unfavourable
Line20202021202220232024
Operating result€543▼ 98.6%€576▲ 6.1%€38,236▲ 6,541%€34,840▼ 8.9%€28,033▼ 19.5%
Net result-€251within the sector's middle half-€1,080within the sector's middle half▼ 330%€25,251within the sector's middle half€22,232within the sector's middle half▼ 12.0%€16,858within the sector's middle half▼ 24.2%
Equity€151,894within the sector's middle half▼ 0.2%€150,814within the sector's middle half▼ 0.7%€176,065within the sector's middle half▲ 16.7%€187,181within the sector's middle half▲ 6.3%€204,039within the sector's middle half▲ 9.0%
Total assets€375,430below the sector's middle half▼ 26.4%€378,378below the sector's middle half▲ 0.8%€581,591below the sector's middle half▲ 53.7%€589,258below the sector's middle half▲ 1.3%€965,028within the sector's middle half▲ 63.8%
Debt€223,535▼ 37.5%€227,564▲ 1.8%€405,526▲ 78.2%€402,077▼ 0.9%€760,990▲ 89.3%
Working capital€89,988within the sector's middle half▲ 74.6%€119,424within the sector's middle half▲ 32.7%€156,512within the sector's middle half▲ 31.1%€166,332within the sector's middle half▲ 6.3%€156,288within the sector's middle half▼ 6.0%
Solvency40.5%within the sector's middle half▲ 10.6pp39.9%within the sector's middle half▼ 0.6pp30.3%within the sector's middle half▼ 9.6pp31.8%within the sector's middle half▲ 1.5pp21.1%within the sector's middle half▼ 10.6pp
Current ratio1.40within the sector's middle half▲ 0.261.54within the sector's middle half▲ 0.131.39within the sector's middle half▼ 0.151.41within the sector's middle half▲ 0.031.21within the sector's middle half▼ 0.21
Return on assets (ROA)-0.1%within the sector's middle half▼ 4.3pp-0.3%within the sector's middle half▼ 0.2pp4.3%within the sector's middle half▲ 4.6pp3.8%within the sector's middle half▼ 0.6pp1.7%within the sector's middle half▼ 2.0pp
Staff (FTE)15.5above the sector's middle half▼ 17.6%16.2above the sector's middle half▲ 4.5%15.8above the sector's middle half▼ 2.5%13.2within the sector's middle half▼ 16.5%10.9within the sector's middle half▼ 17.4%
above within below the middle half (P25 to P75) of NACE 55, Accommodation, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
-€10,000€0€10,000€20,000€30,000€40,000Operating result 2020: €543€543Net result 2020: -€251-€251Operating result 2021: €576€576Net result 2021: -€1,080-€1,080Operating result 2022: €38,236€38,236Net result 2022: €25,251€25,251Operating result 2023: €34,840€34,840Net result 2023: €22,232€22,232Operating result 2024: €28,033€28,033Net result 2024: €16,858€16,85820202021202220232024€0€10,000€20,000€30,000€40,000Operating result 2022: €38,236€38,200Net result 2022: €25,251€25,300Operating result 2023: €34,840€34,800Net result 2023: €22,232€22,200Operating result 2024: €28,033€28,000Net result 2024: €16,858€16,900202220232024
The operating result has fallen two years in a row; 2024 is 20% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €965,028
Fixed assets €47,750 ▲ 129%
Current assets €917,278 ▲ 61.4%
Equity and liabilities €965,028
Equity €204,039 ▲ 9.0%
Debt €760,990 ▲ 89.3%
Debt's share of the balance-sheet total rises from 68.2% to 78.9%. Equity and debt are higher.
Key figures and ratios
2024 value · change against 2023
EBITDA
€37,935▼
2023 · €41,324
Cash flow
€26,760▼
2023 · €28,717
Quick ratio
1.20▼
2023 · 1.38
Debt to equity
3.73▲
2023 · 2.15
ROE
8.3%▼
2023 · 11.9%
Interest coverage
29.16▼
2023 · 53.49
Debt ≤ 1 year
€760,990▲
2023 · €402,077
Income taxes
€10,345▼
2023 · €12,959
Staff costs
€571,434▼
2023 · €626,573
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 2,372 companies that looked in July 2024 the way this one looks now, 1.9% went bankrupt within 24 months and 97% are still going.

  • Small
  • 5 to 10 years old
  • solvency 10 to 30%
  • a profit under 5% of the balance sheet
1.9% went bankrupt
1.4% stopped otherwise
97% still going

A further 0.1% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a bankruptcy probability of 0.7% 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 497,341 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.

The companies in ten equal groups, from lowest to highest expected share.
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% 1.0%
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% 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 2,372 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.

Annual accounts
Filed annual accounts As filed with the NBB · 2024 against 2023 · 52 lines
Balance sheet Code20232024
Assets
Total assets20/58€589,258€965,028▲
Fixed assets21/28€20,849€47,750▲
Tangible fixed assets22/27€20,849€47,750▲
Plant, machinery and equipment23€17,312€44,445▲
Furniture and vehicles24€3,537€3,305▼
Current assets29/58€568,408€917,278▲
Stocks and contracts in progress3€11,996€7,678▼
Stocks30/36€11,996€7,678▼
Amounts receivable within one year40/41€167,626€185,563▲
Trade receivables40€130,956€160,896▲
Other amounts receivable41€36,670€24,667▼
Current investments50/53-€410,000
Cash at bank and in hand54/58€369,995€282,340▼
Deferred charges and accrued income490/1€18,790€31,697▲
Equity and liabilities
Total equity and liabilities10/49€589,258€965,028▲
Equity10/15€187,181€204,039▲
Contributions10/11€100,000€100,000=
Reserves13€87,181€104,039▲
Non-distributable reserves130/1€0€843▲
Reserves not available under the articles1311€0€843▲
Distributable reserves133€87,181€103,196▲
Profit (loss) carried forward14€0€0=
Amounts payable17/49€402,077€760,990▲
Amounts payable within one year42/48€402,077€760,990▲
Trade debts44€168,552€151,919▼
Suppliers440/4€168,552€151,919▼
Taxes, remuneration and social security45€70,035€82,180▲
Taxes450/3€734€4,104▲
Remuneration and social security454/9€69,301€78,076▲
Other amounts payable47/48€163,490€526,890▲
Accrued charges and deferred income492/3€0-
Income statement Code20232024
Remuneration, social security and pensions62€626,573€571,434▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€6,485€9,902▲
Other operating charges640/8€401,587€369,732▼
Non-recurring operating charges66A€1,674€0▼
Gross operating margin9900€1.1m€979,101▼
Operating profit (loss)9901€34,840€28,033▼
Financial income75/76B€1,124€470▼
Recurring financial income75€1,124€470▼
Financial charges65/66B€773€1,301▲
Recurring financial charges65€773€1,301▲
Profit (loss) for the period before taxes9903€35,191€27,203▼
Income taxes67/77€12,959€10,345▼
Profit (loss) for the period9904€22,232€16,858▼
Profit (loss) for the period to be appropriated9905€22,232€16,858▼
Appropriation of the result
Profit (loss) to be appropriated9906€22,232€16,858▼
Transfer to equity691/2€11,116€16,858▲
To the legal reserve6920€0€843▲
To other reserves6921€11,116€16,015▲
Profit to be distributed694/7€11,116€0▼
Return on contributions (dividend)694€11,116€0▼
Social balance
Average headcount (FTE)908713.210.9▼

The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20202021202220232024Change
Remuneration, social security and pensions62-€601,299€707,875€626,573€571,434▼ 8.8%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€43,176€28,733€19,215€6,485€9,902▲ 52.7%
Other operating charges640/8-€318,152€375,196€401,587€369,732▼ 7.9%
Non-recurring operating charges66A---€1,674€0▼ 100%
Gross operating margin9900€620,692€948,759€1.1m€1.1m€979,101▼ 8.6%
Operating profit (loss)9901€543€576€38,236€34,840€28,033▼ 19.5%
Financial income75/76B-€0€191€1,124€470▼ 58.2%
Recurring financial income75€0€0€191€1,124€470▼ 58.2%
Financial charges65/66B-€1,393€3,985€773€1,301▲ 68.4%
Recurring financial charges65€794€1,393€3,985€773€1,301▲ 68.4%
Profit (loss) for the period before taxes9903-€251-€817€34,443€35,191€27,203▼ 22.7%
Income taxes67/77€0€264€9,192€12,959€10,345▼ 20.2%
Profit (loss) for the period9904-€251-€1,080€25,251€22,232€16,858▼ 24.2%
Profit (loss) for the period to be appropriated9905-€251-€1,080€25,251€22,232€16,858▼ 24.2%
Line20202021202220232024Change
Assets
Total assets20/58€375,430€378,378€581,591€589,258€965,028▲ 63.8%
Fixed assets21/28€61,907€36,114€21,908€20,849€47,750▲ 129%
Tangible fixed assets22/27€61,907€36,114€21,908€20,849€47,750▲ 129%
Plant, machinery and equipment23-€30,716€17,440€17,312€44,445▲ 157%
Furniture and vehicles24-€5,398€4,468€3,537€3,305▼ 6.6%
Current assets29/58€313,523€342,264€559,683€568,408€917,278▲ 61.4%
Stocks and contracts in progress3€27,328€14,889€12,067€11,996€7,678▼ 36.0%
Stocks30/36-€14,889€12,067€11,996€7,678▼ 36.0%
Amounts receivable within one year40/41€191,022€98,948€159,014€167,626€185,563▲ 10.7%
Trade receivables40-€81,734€138,546€130,956€160,896▲ 22.9%
Other amounts receivable41-€17,214€20,467€36,670€24,667▼ 32.7%
Current investments50/53----€410,000-
Cash at bank and in hand54/58€83,322€212,759€365,213€369,995€282,340▼ 23.7%
Deferred charges and accrued income490/1-€15,667€23,390€18,790€31,697▲ 68.7%
Equity and liabilities
Total equity and liabilities10/49€375,430€378,378€581,591€589,258€965,028▲ 63.8%
Equity10/15€151,894€150,814€176,065€187,181€204,039▲ 9.0%
Contributions10/11-€100,000€100,000€100,000€100,000=
Reserves13€51,894€50,814€76,065€87,181€104,039▲ 19.3%
Non-distributable reserves130/1-€3,607€4,870€0€843-
Reserves not available under the articles1311-€3,607€4,870€0€843-
Distributable reserves133-€47,207€71,195€87,181€103,196▲ 18.4%
Profit (loss) carried forward14---€0€0-
Amounts payable17/49€223,535€227,564€405,526€402,077€760,990▲ 89.3%
Amounts payable within one year42/48€223,535€222,840€403,171€402,077€760,990▲ 89.3%
Trade debts44€152,042€106,073€149,972€168,552€151,919▼ 9.9%
Suppliers440/4-€106,073€149,972€168,552€151,919▼ 9.9%
Taxes, remuneration and social security45-€83,285€92,649€70,035€82,180▲ 17.3%
Taxes450/3-€1,401€12,796€734€4,104▲ 459%
Remuneration and social security454/9-€81,884€79,853€69,301€78,076▲ 12.7%
Other amounts payable47/48-€33,482€160,549€163,490€526,890▲ 222%
Accrued charges and deferred income492/3-€4,724€2,355€0--
Line20202021202220232024Change
Profit (loss) for the period9904-€251-€1,080€25,251€22,232€16,858▼ 24.2%
+ Depreciation and write-downs630€43,176€28,733€19,215€6,485€9,902▲ 52.7%
Operating cash flow (approximation)€42,925€27,652€44,465€28,717€26,760▼ 6.8%
Investment in fixed assets (approximation)--€2,940-€5,008-€5,426-€36,803▼ 578%
Change in cash-€129,436€152,454€4,783-€87,655▼ 1,933%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

Next filing, fiscal year 2026, expected by 31-07-2027
2026
12-06
NBB filing Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
22-07
NBB filing Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial Equity above €200,000Eq €204,039 ▲9%
3 profitable years in a row build equity to €204,039.
28-06
NBB filing Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
29-06
NBB filing Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial Back to profitnet €25,251
Net result €25,251 after 2 loss-making years.
13-07
NBB filing Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial Weakest financial yearnet -€1,080
Net result drops to -€1,080, the lowest in the series; recovery starts the following year.
14-07
NBB filing Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
24-09
NBB filing Annual accounts filed
fiscal year 2019 · abbreviated schema · 55 days late
2019
31-12
Financial Equity above €150,000Eq €152,146 ▲16.7%
2 profitable years in a row build equity to €152,146.
17-07
NBB filing Annual accounts filed
fiscal year 2018 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 13 acts read
About the unread acts

We know of 13 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.

Have them read with priority Sign in to place this company at the front of the reading queue.

Directors · office · real estate

Directors
No directors read yet: 0 of 13 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Brugge · 1 establishment unit since 2017
seat establishment The establishment unit on the map
Ground area
5,232 m²
Building footprint
1,474 m²
Volume, LiDAR
10,816 m³
2 parcels, Flanders · tallest building 11.5 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
EXPLOITATIEMAATSCHAPPIJ MB
Koning Leopold III Plein 17, 8370 BlankenbergeHotels and similar accommodation
since 20172.262.084.936
2 parcels
Flanders 2 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
31808K0324/00E002 Flanders 4,736 m² 1 · 1,212 m² 11.5 m · 3 fl.
31602B0374/00A000 Flanders 496 m² 1 · 262 m² -
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.

Structure & network

Owners and holdings

2 owners

Chain of control

  1. Bricks & Support 100%
  2. EXPLOITATIEMAATSCHAPPIJ MB

Highest known parent: Bricks & Support. The sources do not say who stands above it.

Owners 2

Holdings 0

No holding stated in the accounts, acts or LEI register we read.

According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. 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 fill in these statements, or need not, is missing.

Connections & network

No current directors or connected companies found in the register.

Recognitions · licences · registrations

Food safety, FASFC

1 site
Blankenberge2.262.084.936
2 permissions
Toelating · Eetgelegenheid · since 13-07-2017
Kamer met ontbijt · since 15-06-2017

Dual-learning approval

4 ended
Hotelreceptionist duaal (so)
ended · 2020 to 2025
Hulpkelner (so)
ended · 2017 to 2022
Hulpkelner (vwo)
ended · 2017 to 2022
Hulpkelner duaal (so)
ended · 2017 to 2022

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Company details

Identification
Legal formPrivate limited company
Founded10-02-2017
Fiscal year end31-12
Activities, NACEBEL 2025
55100Hotels and similar accommodation
Contact
Phone 050/60.00.00Blankenberge
E-invoicing
Reachable via Peppol
Peppol ID 0208:0670958896
Registered 27-03-2026

If you follow this company, Checked tells you the day it leaves the Peppol register.

Register as of 1 October 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.

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