M
ActiveSummary
M has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €389,111 and a net result of €127,730. Equity is growing by ~12.5% per year across the filed fiscal years. Its solvency ranks better than 33% of 2715 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability79▲+6
Solvency51▼-6
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25,000 at 30 days acceptable
Liquidity tight (current ratio 1.09 against 2.96 in 2024; short-term debt: 16.9% and cash: 5.4% of total assets), and 73.9% of the assets are financed with debt.
Credit check for your own amount and term
Open the credit simulator : see how the verdict changes with amount, term and advance.
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 62
Relative position
BE, all sectors
reference
Computer programming, consultancy and related activities (NACE 62)
about 64% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
26.1%
Return on assets
8.6%
Age of the figures
9 mo
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 27-08-2026, 27 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 8 filingsDeviation from the deadline
2025
27 d late
2024
20 d early
2023
19 d early
2022
4 d late
2021
30 d early
2020
15 d early
2019
15 d early
← 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 10 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 33% 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, abbreviated schema
In the rankings
#6 company by total assets in Bonheiden, Telecoms and IT sector
Equity
€389,111▼ 15.7%
2024 · €461,382
Total assets
€1.5m▲ 4.5%
2024 · €1.4m
Net result
€127,730▲ 153%
2024 · €50,511
Working capital
€23,088▼ 85.5%
2024 · €159,453
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€104,847▼ 23.0%€177,199▲ 69.0%€183,309▲ 3.4%€79,335▼ 56.7%€184,370▲ 132%
Net result€75,897▼ 27.4%€129,977▲ 71.3%€134,458▲ 3.4%€50,511▼ 62.4%€127,730▲ 153%
Equity€446,436▲ 24.7%€276,413▼ 38.1%€410,871▲ 48.6%€461,382▲ 12.3%€389,111▼ 15.7%
Total assets€822,295▲ 77.0%€804,397▼ 2.2%€890,558▲ 10.7%€1.4m▲ 60.2%€1.5m▲ 4.5%
Debt€375,859▲ 253%€527,984▲ 40.5%€479,687▼ 9.1%€965,713▲ 101%€1.1m▲ 14.2%
Working capital€357,262▲ 1.9%€184,623▼ 48.3%€292,196▲ 58.3%€159,453▼ 45.4%€23,088▼ 85.5%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Why a figure moved sharply
- 2024 Total assets +60% on 2023. Cause not known from the registers.
- 2021 Total assets +77% on 2020. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 132% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.5m
Fixed assets
€1.2m ▲ 2.5%
Current assets
€275,460 ▲ 14.4%
Equity and liabilities €1.5m
Equity
€389,111 ▼ 15.7%
Debt
€1.1m ▲ 14.2%
Debt's share of the balance-sheet total rises from 67.7% to 73.9%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€245,732▲
2024 · €205,758
Cash flow
€189,092▲
2024 · €176,933
Current ratio
1.09▼
2024 · 2.96
Debt to equity
2.83▲
2024 · 2.09
ROE
32.8%▲
2024 · 10.9%
ROA
8.6%▲
2024 · 3.5%
Interest coverage
12.99▼
2024 · 15.99
Debt ≤ 1 year
€252,372▲
2024 · €81,298
Debt > 1 year
€850,515▼
2024 · €884,415
Income taxes
€38,653▲
2024 · €16,480
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,677 companies that looked in July 2024 the way this one looks now, 1.3% went bankrupt within 24 months and 97% are still going.
- Small
- 5 to 10 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
1.3%
went bankrupt
1.2%
stopped otherwise
97%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
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 2,677 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
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €2,992 | €3,088 | €2,693 | €2,513 | €2,334 | ▼ 7.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €65,209 | €21,892 | €25,060 | €126,422 | €61,362 | ▼ 51.5% |
| Other operating charges640/8 | €1,925 | €3,002 | €6,477 | €4,711 | €10,294 | ▲ 119% |
| Gross operating margin9900 | €171,981 | €202,093 | €214,846 | €210,468 | €256,026 | ▲ 21.6% |
| Operating profit (loss)9901 | €104,847 | €177,199 | €183,309 | €79,335 | €184,370 | ▲ 132% |
| Financial income75/76B | €5 | - | - | €520 | €926 | ▲ 77.9% |
| Recurring financial income75 | €5 | - | - | €520 | €926 | ▲ 77.9% |
| Financial charges65/66B | €4,689 | €6,752 | €6,095 | €12,865 | €18,914 | ▲ 47.0% |
| Recurring financial charges65 | €4,689 | €6,752 | €6,095 | €12,865 | €18,914 | ▲ 47.0% |
| Profit (loss) for the period before taxes9903 | €100,163 | €170,447 | €177,213 | €66,991 | €166,382 | ▲ 148% |
| Income taxes67/77 | €24,266 | €40,470 | €42,756 | €16,480 | €38,653 | ▲ 135% |
| Profit (loss) for the period9904 | €75,897 | €129,977 | €134,458 | €50,511 | €127,730 | ▲ 153% |
| Profit (loss) for the period to be appropriated9905 | €75,897 | €129,977 | €134,458 | €50,511 | €127,730 | ▲ 153% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €822,295 | €804,397 | €890,558 | €1.4m | €1.5m | ▲ 4.5% |
| Fixed assets21/28 | €391,877 | €380,244 | €392,648 | €1.2m | €1.2m | ▲ 2.5% |
| Tangible fixed assets22/27 | €391,877 | €380,244 | €392,648 | €1.2m | €1.2m | ▲ 2.5% |
| Land and buildings22 | €378,628 | €371,314 | €383,821 | €1.2m | €1.2m | ▲ 1.8% |
| Plant, machinery and equipment23 | €4,040 | €2,160 | €343 | - | - | - |
| Furniture and vehicles24 | €9,209 | €6,770 | €8,484 | €5,184 | €14,197 | ▲ 174% |
| Current assets29/58 | €430,418 | €424,153 | €497,910 | €240,750 | €275,460 | ▲ 14.4% |
| Amounts receivable within one year40/41 | €97,355 | €38,653 | €65,022 | €34,214 | €54,945 | ▲ 60.6% |
| Trade receivables40 | €30,417 | €38,653 | €35,467 | €32,854 | €39,280 | ▲ 19.6% |
| Other amounts receivable41 | €66,938 | - | €29,555 | €1,360 | €15,665 | ▲ 1,052% |
| Current investments50/53 | - | - | - | - | €140,000 | - |
| Cash at bank and in hand54/58 | €333,063 | €385,500 | €432,888 | €206,536 | €80,515 | ▼ 61.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €822,295 | €804,397 | €890,558 | €1.4m | €1.5m | ▲ 4.5% |
| Equity10/15 | €446,436 | €276,413 | €410,871 | €461,382 | €389,111 | ▼ 15.7% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Outside capital11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Other1109/19 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €427,836 | €257,813 | €392,271 | €442,782 | €370,511 | ▼ 16.3% |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | €425,976 | €255,953 | €390,411 | €440,922 | €368,651 | ▼ 16.4% |
| Amounts payable17/49 | €375,859 | €527,984 | €479,687 | €965,713 | €1.1m | ▲ 14.2% |
| Amounts payable after more than one year17 | €302,703 | €288,454 | €273,974 | €884,415 | €850,515 | ▼ 3.8% |
| Financial debts170/4 | €302,703 | €288,454 | €273,974 | €734,415 | €700,515 | ▼ 4.6% |
| Other amounts payable178/9 | - | - | - | €150,000 | €150,000 | = |
| Amounts payable within one year42/48 | €73,156 | €239,531 | €205,714 | €81,298 | €252,372 | ▲ 210% |
| Current portion of amounts payable after more than one year42 | €15,183 | €15,429 | €15,676 | €34,284 | €36,687 | ▲ 7.0% |
| Trade debts44 | €16,617 | €2,958 | €13,002 | €11,082 | €5,533 | ▼ 50.1% |
| Suppliers440/4 | €16,617 | €2,958 | €13,002 | €11,082 | €5,533 | ▼ 50.1% |
| Taxes, remuneration and social security45 | €41,356 | €43,579 | €5,606 | €33,769 | €54,490 | ▲ 61.4% |
| Taxes450/3 | €41,356 | €43,579 | €5,606 | €33,769 | €54,490 | ▲ 61.4% |
| Other amounts payable47/48 | - | €177,564 | €171,430 | €2,162 | €155,662 | ▲ 7,101% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €75,897 | €129,977 | €134,458 | €50,511 | €127,730 | ▲ 153% |
| + Depreciation and write-downs630 | €65,209 | €21,892 | €25,060 | €126,422 | €61,362 | ▼ 51.5% |
| Operating cash flow (approximation) | €141,106 | €151,869 | €159,518 | €176,933 | €189,092 | ▲ 6.9% |
| Investment in fixed assets (approximation) | - | -€10,259 | -€37,464 | -€920,119 | -€91,556 | ▲ 90.0% |
| Change in cash | - | €52,437 | €47,388 | -€226,352 | -€126,021 | ▲ 44.3% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
27-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 27 days late
14-08
State Gazette act
General meeting · Director reappointment
Permanent representative · Auditor appointment
2025
20-08
State Gazette act
Board meeting · General meeting
Director reappointment · Permanent representative
11-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
26-05
State Gazette act
Merger · Accounting effect
Power of attorney · Merger valuation · Philippe Caeymaex
24-03
State Gazette act
General meeting · Board meeting
Director reappointment · Permanent representative
2024
31-12
Financial
Weakest financial yearnet €50,511 ▼62.4%
Net result drops to €50,511, the lowest in the series; recovery starts the following year.
30-07
State Gazette act
General meeting · Director reappointment
Permanent representative · Power of attorney
25-07
State Gazette act
General meeting · Board meeting
Director reappointment · Director appointment
12-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
04-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 4 days late
26-06
State Gazette act
Board meeting · Merger
Corporate purpose · Permanent representative
Show earlier events
2022
01-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
16-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
16-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Highest result since 2018net €180,870 ▲172%
Operating result €248,669, net result €180,870, both a record.
31-12
Financial
Equity above €200,000Eq €253,565 ▲249%
2 profitable years in a row build equity to €253,565.
16-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
14-03
State Gazette act
General meeting · Board meeting
Director appointment · Permanent representative
22-01
State Gazette act
General meeting · Director resignation
Director appointment · Permanent representative
16-01
State Gazette act
General meeting · Director resignation
Director appointment · Director reappointment
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not 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
1 act for this company is in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Bonheiden · 1 establishment unit since 2018
Ground area
982 m²
Building footprint
162 m²
Volume, LiDAR
780 m³
Parcel 12005A0164/00A003, Flanders · tallest building 8.1 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
M
since 20182.275.891.895
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12005A0164/00A003 | Flanders | 981 m² | 1 · 162 m² | 8.1 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Connections & network
The group is listed under Ownership & control below; here you explore it as a network.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, scroll to zoom.
Ownership & control
4 board mandatesBoard mandates of this companythis company sits on their board4
Similar companies · same sector, comparable size
High-SEA
BE 0806.380.893
Wavre · Eq €389,435
CounterFort
BE 0627.835.468
Oudenaarde · Eq €388,738
Security People
BE 0729.565.209
Etterbeek · Eq €388,734
Edor Soft
BE 0881.846.596
Lierde · Eq €389,537
Xameco
BE 0538.922.595
Chastre · Eq €388,678
Of 30,007 companies in sector 62200 we hold annual accounts for 18,396. 12,931 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded26-04-2018
Fiscal year end31-12
Activities, NACEBEL 2025
62200Computer consultancy and computer facilities management
E-invoicing
Reachable via Peppol
Peppol ID
0208:0695488317
Also
9925:BE0695488317
Registered
30-01-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.