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M

Active Private limited company (pre-2019)founded 2018active for 8 yearsVoordiedonkenlaan 5, 2820 BonheidenKBO/BCE: BE 0695.488.317 #6 company by total assets in Bonheiden, Telecoms and IT sector
M
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Overview

Lifetime

8 annual accounts with figures on one time axis
peak €256,472 (2019)
€256,026▲ 21.6%
peak €180,870 (2019)
€127,730▲ 153%
peak €461,382 (2024)
€389,111▼ 15.7%
€1.1m▲ 14.2%
Board1 name since 2021
1 directorBoriau Michael
Documentsfilings and deeds
27-08-202627 days late
2025abbreviated format
Gross margin from €210,468 to €256,026Result from €50,511 to €127,730Board meeting · Director reappointment 20-08Merger · Corporate purpose 26-05Merger · Corporate purpose 26-05General meeting · Director reappointment 24-03

Key points

from the 2025 annual accounts

Equity

€389,111 ▼ 15.7%
461,3822024+127,730Profit-200,000Dividend389,1112025

M paid out €200,000 in dividends. That is 157% of the 2025 profit.

Result

€127,730 ▲ 153%
€50,5002024€128,0002025

The result rose in 2025 from €50,511 to €127,730.

Turnover

≈ €670,000 estimated

The accounts state no turnover.

Debts

€1.1m 74% of the balance sheet
Financial debts 64%Suppliers 1%Taxes and wages 5%Other 31%

Of this, €252,372 falls due within a year.

Liquidity

1.09 was 2.96 in 2024

Short-term debts rose from €81,298 to €252,372.

Filings

8 annual accounts 2 late
AprilJune31 JulyOctober20202025

The 2025 accounts came latest: 27 days after the end of the period.

Checked score

91
Excellent
Financially stronger than 31% of micro companies in computer programming and consultancy (NACE 62)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.1% Very low
0%0.5%1.5%4%10%≥ 25%

The dashed line is the sector median: 0.1% across 25,932 companies (NACE 62, micro).

Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Last 24 months 12-2024: < 0.1% 01-2025: < 0.1%● unchanged vs 12-2024lowest value 02-2025: < 0.1%● unchanged vs 01-2025 03-2025: < 0.1%● unchanged vs 02-2025 04-2025: < 0.1%● unchanged vs 03-2025 05-2025: < 0.1%● unchanged vs 04-2025 06-2025: < 0.1%● unchanged vs 05-2025 07-2025: < 0.1%● unchanged vs 06-2025 08-2025: < 0.1%● unchanged vs 07-2025 09-2025: < 0.1%● unchanged vs 08-2025 10-2025: < 0.1%● unchanged vs 09-2025 11-2025: < 0.1%● unchanged vs 10-2025 12-2025: < 0.1%● unchanged vs 11-2025 01-2026: < 0.1%● unchanged vs 12-2025 02-2026: < 0.1%● unchanged vs 01-2026 03-2026: < 0.1%● unchanged vs 02-2026 04-2026: < 0.1%● unchanged vs 03-2026 05-2026: < 0.1%● unchanged vs 04-2026 06-2026: < 0.1%● unchanged vs 05-2026 07-2026: 0.1%▲ +0.1 percentage points vs 06-2026 08-2026: 0.2%▲ +0.1 percentage points vs 07-2026highest value 09-2026: 0.1%▼ -0.1 percentage points vs 08-2026 10-2026: 0.1%● unchanged vs 09-2026 11-2026: 0.1%● unchanged vs 10-2026

Financial strength
Average

51-6equity 26.1% of total assets
52-16short-term debt 16.9% · cash 5.4%
79+6return on assets 8.6%

Score breakdown

raises risk
Liquidity: current ratio 1.09, cash €80,515, halved
lowers risk
Size: total assets €1.5m
Sector: Computer programming, consultancy and related activities (NACE 62)
Figures for financial year 2025 (filed on 28-08-2026)
Calculation

The band follows from the bankruptcy probability. 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 62, micro). It does better than 26% of them on solvency, 34% on liquidity, 39% on profitability and 27% on growth.

The bankruptcy probability was computed on 08-11-2026 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.

The probability rests on the annual accounts with balance sheet date 31-12-2025.

Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.

Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).

Comparable companies, two years later

In July 2024, 2,684 companies had the same profile as M has now. Each dot stands for 7 companies, two years later.

97.3%
were still trading
1.2%
stopped another way
1.3%
went bankrupt
  • Small
  • 5 to 10 years old
  • solvency 10 to 30%
  • a profit of 5% of the balance sheet or more

Another 0.1% stopped without a precise date, possibly only after those two years.

The bankruptcy probability of M itself is lower: 0.1% within 12 months. It rests on far more data about M than the profile alone.

Test of the method

The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.

The companies in ten equal groups, from the lowest to the 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% 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%

A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.

This is an observation about 2,684 companies, not a prediction for M. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.

Credit verdict

Credit of up to €35,000 on 30-day terms is acceptable

Liquidity is tight, with a current ratio of 1.09 (2.96 in 2024), below the usual 1.5. Short-term debt is 16.9% and cash 5.4% of total assets. 73.9% of the assets are financed with debt and provisions.

Credit check for an amount and term of your choice

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

The scores and ratios are Checked's own calculations, not a credit decision.

Signals

Five signals.
lowers riskraises risk
lowers risk · Size: total assets €1.5m
Companies of this size fail less often. How much that weighs depends on the rest of the company's profile.
NBB · annual accounts
lowers risk · Sector: Computer programming, consultancy and related activities (NACE 62)
KBO
lowers risk · Figures for financial year 2025 (filed on 28-08-2026)
NBB · annual accounts
raises risk · Liquidity: current ratio 1.09, cash €80,515, halved
NBB · annual accounts
raises risk · 2025 accounts filed 27 days late
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. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 8 filings
Deviation from the deadline
2025
27 days late
2024
20 days early
2023
19 days early
2022
4 days late
2021
30 days early
2020
15 days early
2019
15 days early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

The company filed its last 7 accounts on average 10 days before the deadline. In the sector (NACE 62), the median for financial year 2024 was 9 days before the deadline, and 33% of those companies filed late.

Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 13 July (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven months
Where today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
That holds for every publication since 2021.
KBO publications

Board and ownership

BM
Boriau Michael
Director
Board & ownership

Recent changes

Director resignation · Permanent representative Gazette deed
General meeting · Director reappointment Gazette deed
Registered in the Peppol Directory Reachable for e-invoices through 0208:0695488317
Board meeting · Director reappointment Gazette deed
All 35 events

Comparable companies

same main activity, similar in size and age
Company
M Bonheiden €1.5m €256,026 26.1% -
ROOT Company Wavre €1.5m €283,689 62.1% 3.2
AWELL HEALTH Ghent €1.4m €279,764 54.2% 3.1
HAWC Merelbeke-Melle €1.7m €262,525 18.7% 4.4
GD CONSULTANCY Kalmthout €1.5m €302,413 21.2% -
XGTech Kontich €2.0m €247,717 72.5% 4.4
Avit Systems België Antwerp €1.3m €336,834 -270.3% 4.4

These companies have the same main activity as M: computer consultancy and computer facilities management (NACE 62200). They are comparable in size and age: total assets between €1.3m and €2m, founded between 2016 and 2018.

Official details

Source: KBO
Status
Active since 26-04-2018Normal situation
Activity
Computer consultancy and computer facilities managementNACE 62200
Establishment unit
2.275.891.8952820 Bonheiden, since 26-04-2018
Financial year end
31 December
Peppol
Reachable since 30-01-2026
Company details

Annual accounts 2025

€256,026▲ 21.6%
€127,730▲ 153%
€389,111▼ 15.7%
€1.5m▲ 4.5%
Filing
Filed on 27-08-2026
Financials

Insights on M

M files the abbreviated format. That format states no turnover. The gross margin rose from €84,815 in 2018 to €256,026 in 2025.

The balance sheet grew most from 2019 to 2021 through fixed assets.

Sources: KBO register, filings at the National Bank, Belgian Official Gazette.

Financials

Annual accounts 2025

abbreviated format, filed on 27-08-2026, 27 days late
€256,026
▲ 21.6%
€184,370
▲ 132%
€127,730
▲ 153%
€23,088
▼ 85.5%
26.1%
▼ 6.3 percentage points
1.09
▼ 1.87

Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.

Turnover ≈ €670,000. Estimated: probably between €460,000 and €1.1m.

In the rankings #6 company by total assets in Bonheiden, Telecoms and IT sector

Balance sheet

balance sheet total €1.5m on 31-12-2025
What the company ownsHow it is paid for

in euro

in euro

Position in the sector

Compare with sector

26.1%

Higher than 33% of 3,405 companies in 2025.

1.09

Higher than 27% of 3,266 companies in 2025.

8.6%

Higher than 53% of 3,314 companies in 2025.

M Middle half of the sector 80% of the sector Abbreviated accounts in computer programming and consultancy (NACE 62)

Net result: top quarter · Equity: middle half · Balance sheet total: top quarter · Working capital: middle half

Filed annual accounts

as filed with the National Bank, click a year to choose it
Line Trend20252024202320222021202020192018
Balance sheet: assets
20/58 1.5m1.4m890,558804,397822,295464,599323,426115,882
21/28 1.2m1.2m392,648380,244391,8777,5171,834425
22/27 1.2m1.2m392,648380,244391,8777,5171,834425
22 1.2m1.2m383,821371,314378,628---
23 --3432,1604,0404,1581,509-
24 14,1975,1848,4846,7709,2093,359325425
29/58 275,460240,750497,910424,153430,418457,082321,592115,457
40/41 54,94534,21465,02238,65397,35572,34935,85122,688
40 39,28032,85435,46738,65330,41748,36825,20822,688
41 15,6651,36029,555-66,93823,98210,643-
50/53 140,000-------
54/58 80,515206,536432,888385,500333,063384,733285,74192,769
Balance sheet: equity and liabilities
10/49 1.5m1.4m890,558804,397822,295464,599323,426115,882
10/15 389,111461,382410,871276,413446,436358,138253,56572,695
10/11 18,60018,60018,60018,60018,6006,2006,2006,200
100 ------18,60018,600
101 ------12,40012,400
11 18,60018,60018,60018,60018,600---
1109/19 18,60018,60018,60018,60018,600---
13 370,511442,782392,271257,813427,836351,938247,36566,495
130/1 1,8601,8601,8601,8601,8601,860--
130 ------1,8601,860
1311 1,8601,8601,8601,8601,8601,860--
133 368,651440,922390,411255,953425,976350,078245,50564,635
17/49 1.1m965,713479,687527,984375,859106,46169,86143,186
17 850,515884,415273,974288,454302,703---
170/4 700,515734,415273,974288,454302,703---
178/9 150,000150,000------
42/48 252,37281,298205,714239,53173,156106,46169,86138,638
42 36,68734,28415,67615,42915,183---
44 5,53311,08213,0022,95816,6171064301,406
440/4 5,53311,08213,0022,95816,6171064301,406
45 54,49033,7695,60643,57941,356106,35569,43135,666
450/3 54,49033,7695,60643,57941,356103,01769,43132,328
454/9 -----3,338-3,338
47/48 155,6622,162171,430177,564---1,565
492/3 -------4,548
Income statement
76A 2,3342,5132,6933,0882,992---
9900 256,026210,468214,846202,093171,981138,065256,47284,815
630 61,362126,42225,06021,89265,2091,09185475
640/8 10,2944,7116,4773,0021,9258086,949315
9901 184,37079,335183,309177,199104,847136,167248,66984,425
75/76B 926520--5-170
75 926520--5-170
65/66B 18,91412,8656,0956,7524,6892861,205124
65 18,91412,8656,0956,7524,6892861,205124
9903 166,38266,991177,213170,447100,163135,881247,48184,301
67/77 38,65316,48042,75640,47024,26631,30866,61117,806
9904 127,73050,511134,458129,97775,897104,573180,87066,495
9905 127,73050,511134,458129,97775,897104,573180,87066,495
Appropriation of the result
9906 127,73050,511134,458129,97775,897104,573180,87066,495
791/2 200,000--300,000----
691/2 127,73050,511134,458129,97775,897104,573180,87066,495
6920 -------1,860
6921 127,73050,511134,458129,97775,897104,573180,87064,635
694/7 200,000--300,000----
694 200,000--300,000----
Document PDFPDFPDFPDFPDFPDFPDFPDF

The notes to these accounts have 5 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.

Source: Annual accounts 2025 at the NBB, filed on 27-08-2026.

Download as CSV

Filings

each dot is a set of accounts, on the day it reached the National Bank

2025 annual accounts filed 27 days after the deadline. Filed on 27 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00437275.

Financial year Type Filed Reference Document
31-12-2025 abbreviated format 27-08-2026 2026-00437275 PDF
31-12-2024 micro format 11-07-2025 2025-00275448 PDF
31-12-2023 micro format 12-07-2024 2024-00255026 PDF
31-12-2022 micro format 04-08-2023 2023-00313208 PDF
31-12-2021 micro format 01-07-2022 2022-20129481 PDF
31-12-2020 micro format 16-07-2021 2021-37200494 PDF
31-12-2019 micro format 16-07-2020 2020-31500509 PDF
31-12-2018 micro format 16-07-2019 2019-34100101 PDF

Key figures and ratios

per financial year, computed from the annual accounts
Line Trend20252024202320222021202020192018
245,732205,758208,369199,092170,056137,257249,52384,500
189,092176,933159,518151,869141,106105,663181,72566,570
91,556920,11937,46410,259449,5696,7742,263500
-126,021-226,35247,38852,437-51,67098,992192,972-
23,088159,453292,196184,623357,262350,621251,73276,819
26.1%32.3%46.1%34.4%54.3%77.1%78.4%62.7%
1.092.962.421.775.884.294.602.99
2.832.091.171.910.840.300.280.59
32.8%10.9%32.7%47.0%17.0%29.2%71.3%91.5%
8.6%3.5%15.1%16.2%9.2%22.5%55.9%57.4%
12.9915.9934.1829.4936.27---

A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.

Investments

fixed assets acquired
Item20252024202320222021
Tangible fixed assets€91,556€920,119€37,464€10,259€449,569
€61,362€126,422€25,060€21,892€65,209

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Insights on M

The operating result for 2025 is 132% higher than in 2024 and the highest since 2019. It is a recovery after the fall in 2024.

Debt's share of the balance-sheet total rises from 67.7% to 73.9%. Equity is lower and debt is higher.

Board & ownership

Board

1 director
Boriau Michael
Director
listed in the 2025 annual accounts, filed on 27-08-2026

Office holders in the KBO →

Mandates through the years

1 name, the dashed line is today
Boriau Michael
Director
Boardmandate already running before its first mention
Mandates as a list
  • Boriau Michael
    • Director, since before 31-12-2021

See the board, name and registered office on a given date →

Control

See the annual accounts at the National Bank and the publications in the Belgian Official Gazette.

Capital

Contribution
€18,600
Source
2025 annual accounts

Network & group

No group

M has no parent and no holdings in its annual accounts. Boriau Michael is the only director.

Board mandates elsewhere

7 board mandates
Board mandates of MM sits on their board7
Viabuild Africa
Managing director, Director
Founded in 2020 · 57 FTE (2024) · group ViAc Holding · accounts filed late
VIABUILD
Managing director, Director · 4 locations
Founded in 1956 · 378 FTE (2025) · group ViAc Holding
VIABUILD GROUP
Director, Managing director · 2 locations
Founded in 1988 · turnover €1.8m (2025) · group ViAc Holding
Square Group
Director
Founded in 2012 · 31 FTE (2025) · group LT CAPITAL & ADVICE
SigTraCo
Director, Managing director · 2 locations
Founded in 1988 · 48 FTE (2025) · group ViAc Holding
viabuild special services
Director, Managing director
Founded in 1985 · 89 FTE (2025) · group ViAc Holding
Show 1 more
VIABUILD IMMO
Director, Managing director
Founded in 2008 · turnover €1.0m (2025) · group ViAc Holding

Connections & network

1 connected company
Depth

The connected companies are in the list below.

This company Company Director Shareholding +N: links not shown yet Click a node to look further, drag to arrange, zoom with the mouse wheel.
Linked via shared directors
VIABUILD BETON EN ASFALT
via BORIAU Michael · Director (not named in the articles) · deed of 12-02-2024
Founded in 1990 · 14 FTE (2025) · group ViAc Holding
→

Timeline

Timeline

35 events since 2018

Deadline for the 2026 accounts: 31-07-2027

2026
Director resignation · Permanent representative PDFDirector reappointment · Declaration
Annual accounts 2025 filed NBBabbreviated format · 27 days late
General meeting · Director reappointment PDFPermanent representative · Auditor appointment
Registered in the Peppol Directory Reachable for e-invoices through 0208:0695488317
2025
Board meeting · Director reappointment PDFPermanent representative · Director appointment
Annual accounts 2024 filed PDFmicro format · 20 days before the deadline
Merger · Corporate purpose PDFBoard composition · Permanent representative
General meeting · Director reappointment PDFPermanent representative · Board meeting
2024
Weakest financial year net €50,511 ▼62.4% The net result drops to €50,511, the lowest from 2018 to 2025. It recovers the following year.
General meeting · Director reappointment PDFPermanent representative · Board meeting
General meeting · Director reappointment PDFPermanent representative · Board meeting
Annual accounts 2023 filed PDFmicro format · 19 days before the deadline
2023
General meeting · Director resignation PDFPermanent representative · Kind of shares
Annual accounts 2022 filed PDFmicro format · 4 days late
Merger · Corporate purpose PDFBoard composition · Permanent representative
Merger · Board meeting PDFCorporate purpose · Board composition
2022
General meeting · Director resignation PDFDirector discharge · Permanent representative
Board meeting · Director resignation PDFPermanent representative
Annual accounts 2021 filed PDFmicro format · 30 days before the deadline
2021
Annual accounts 2020 filed PDFmicro format · 15 days before the deadline
General meeting · Kind of shares PDFOther provision · Name change
General meeting · First financial year PDFAnnual general meeting · Board meeting
2020
Founder · Incorporation PDFFounding capital · Other provision
Annual accounts 2019 filed PDFmicro format · 15 days before the deadline
2019
Highest result from 2018 to 2025 net €180,870 ▲172% The operating result of €248,669 and the net result of €180,870 are both a record.
Equity above €200,000 equity €253,565 ▲249% With a profit in every financial year since 2018, equity grows to €253,565.
Annual accounts 2018 filed PDFmicro format · 15 days before the deadline
General meeting · Director appointment PDFPermanent representative · Board meeting
General meeting · Director resignation PDFPermanent representative · Director appointment
General meeting · Director resignation PDFPermanent representative · Director appointment
General meeting · Board meeting PDFDirector resignation · Permanent representative
General meeting · Director resignation PDFPermanent representative · Director appointment
General meeting · Board meeting PDFDirector resignation · Director appointment
2018
Incorporation PDFpublished on 08-05-2018
First establishment Voordiedonkenlaan 5, Bonheiden

Financial milestones sit on the financial year-end date, not the filing date.

Sources: Publications in the Belgian Official GazetteFilings with the National Bank

History

M was incorporated on 26 April 2018.1 Total assets rose from €115,882 in 2018 to €1.5m in 2025.2

  1. 1KBO register
  2. 2National Bank, annual accounts 2018 and 2025

Company details

Identity

Enterprise number
0695.488.317
VAT number
BE 0695.488.317
Peppol ID
0208:0695488317
Other Peppol ID
9925:BE0695488317
Legal form
Private limited company (pre-2019)
Status
Active, normal situation
Founded
26-04-2018
Financial year
ends on 31 December
Peppol
Reachable since 30-01-2026Follow this company and you will hear the next morning if it leaves the Peppol register.
Name
M in Dutch
Entity type
Legal entity

Activities

NACEBEL 2025
62200 Computer consultancy and computer facilities management main activity
Codes under NACEBEL 2008
62020 IT consultancy main activity

Registered office and establishments

1 establishment
Establishment Since Unit number
Voordiedonkenlaan 5 registered office 2820 Bonheiden 70200 Business and other management consultancy 26-04-2018 2.275.891.895

Buildings and parcels at the address

Ground area
982 m²
Buildings
162 m²
Volume, LiDAR
780 m³
Tallest building
8.1 m
Buildings to scale, each on its own parcel
162 m², 8.1 m 162 m², 8.1 m

Location

registered office establishment The establishment unit on the map

Parcels

Cadastral parcelArea Buildings Height / floors
12005A0164/00A003981 m² 1 · 162 m² 8.1 m · 2

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