Summary
M.C.E. is a financial institution. The bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €1.5m and a net result of -€53,111. Equity has been stable since 2019 (±0.7% per year). Its solvency ranks better than 30% of 6,692 sector peers (NACE 64, financial year 2025). The company has been active since 1997 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Overview
Official details
Source: KBO- Status
- Active since 18-07-1997 Normal situation
- Activity
- Activities of holding companies NACE 64210and 2 others
- Establishment unit
- 2.082.860.709 8647 Lo-Reninge, since 04-08-1997
- Financial year end
- 30 September
- Peppol
- Reachable since 25-12-2025
Board and ownership
Board
- Capoen LieveDirector
- Markey LucDirector
- Holdings
- Shares in 3 companies including INNOVENT and LUMATEC
Financial position
Financial institution: outside the modelBankruptcy probability: sector outside the model
Annual accounts to 30-09-2025
- Loss
- €53,111
- ▼ 68.0%
- Equity
- €1.5m
- ▼ 3.5%
- Total assets
- €5.2m
- ▲ 5.2%
- 2025 accounts filed 22 days after the deadline
Signalsraises risk2025 accounts filed 22 days lateShow the evidence
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score measures liquidity, leverage and margins against the norms for trading and manufacturing companies. A bank, insurer or financial holding has a very different balance sheet. Those ratios and the score mean nothing here. So there is no financial strength either.
Bankruptcy probability within 12 months
The company is a financial institution: a bank, insurer or financial holding. Its balance sheet works differently from that of a trading or manufacturing company. A bankruptcy probability from the general model would mislead here.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
1 signal.
raises risk
raises risk · 2025 accounts filed 22 days late
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 22-05-2026, 22 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 · 10 filingsDeviation from the deadline
2025
22 days late
2024
3 days early
2023
14 days late
2022
2 days late
2021
5 days late
2020
4 days late
2019
5 days late
← 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 7 days after the deadline. In the sector (NACE 64), the median for financial year 2024 was 14 days before the deadline, and 28% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The financial year that closed on 30-09-2026 is due by 30-04-2027. Nothing is late today. The company usually files around 5 May (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
30-09-2026 year end04-11-2026 today30-04-2027 deadline
Financials
Financials · financial year 2025, abbreviated format
2025 annual accounts filed 22 days after the deadline Filed on 22 May 2026, deadline 30 April 2026 (7 months after the close on 30 September 2025, Companies Code art. 3:10). Source: NBB, 2026-00121303.
Annual accounts 2025 filed on 22-05-2026 PDF all 28 filings
Equity
€1.5m▼ 3.5%
2024 · €1.5m
Net result
-€53,111▲ 68.0%
2024 · -€166,162
Total assets
€5.2m▲ 5.2%
2024 · €4.9m
Solvency
28.4%▼ 2.6pp
2024 · 30.9%
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
-€23,579
▲ 85.9%
2025
20192025
Net result
-€53,111
▲ 68.0%
2025
lowest quarter of the sector
20192025
Equity
€1.5m
▼ 3.5%
2025
middle half of the sector
20192025
Total assets
€5.2m
▲ 5.2%
2025
highest quarter of the sector
20192025
Debt
€3.7m
▲ 9.1%
2025
20192025
Working capital
-€2.9m
▲ 1.5%
2025
lowest quarter of the sector
20192025
Solvency
28.4%
▼ 2.6pp
2025
middle half of the sector
20192025
Current ratio
0.22
▲ 0.08
2025
lowest quarter of the sector
20192025
Return on assets (ROA)
-1.0%
▲ 2.4pp
2025
lowest quarter of the sector
20192025
Staff (FTE)
no figure
2025
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€0.2m-€0.2m▼ 15.8%€0.3m▲ 90.4%-€0.02m€0.02m-€0.2m-€0.02m▲ 85.9%
Net result€0.3m-€0.1mwithin the sector's middle half▼ 69.4%€0.2mabove the sector's middle half▲ 90.4%€0.001mbelow the sector's middle half▼ 99.5%€0.01mwithin the sector's middle half▲ 15×-€0.2mbelow the sector's middle half-€0.05mbelow the sector's middle half▲ 68.0%
Equity€1.4m-€1.5mwithin the sector's middle half▲ 7.4%€1.7mwithin the sector's middle half▲ 13.1%€1.7mwithin the sector's middle half▲ 0.1%€1.7mwithin the sector's middle half▲ 0.8%€1.5mwithin the sector's middle half▼ 9.9%€1.5mwithin the sector's middle half▼ 3.5%
Total assets€3.1m-€3.2mwithin the sector's middle half▲ 4.8%€3.3mwithin the sector's middle half▲ 0.7%€3.3mwithin the sector's middle half▲ 1.3%€4.0mwithin the sector's middle half▲ 21.6%€4.9mabove the sector's middle half▲ 22.6%€5.2mabove the sector's middle half▲ 5.2%
Debt€1.7m-€1.8m▲ 2.7%€1.6m▼ 9.8%€1.6m▲ 2.7%€2.3m▲ 43.1%€3.4m▲ 46.2%€3.7m▲ 9.1%
Working capital-€0.7m--€1.2mbelow the sector's middle half▼ 78.2%-€1.0mbelow the sector's middle half▲ 16.1%-€1.0mbelow the sector's middle half▼ 4.1%-€1.6mbelow the sector's middle half▼ 55.3%-€2.9mbelow the sector's middle half▼ 83.0%-€2.9mbelow the sector's middle half▲ 1.5%
Solvency44.7%-45.8%within the sector's middle half▲ 1.1pp51.4%within the sector's middle half▲ 5.6pp50.8%within the sector's middle half▼ 0.6pp42.1%within the sector's middle half▼ 8.7pp30.9%within the sector's middle half▼ 11.1pp28.4%within the sector's middle half▼ 2.6pp
Current ratio0.46-0.13below the sector's middle half▼ 0.320.23below the sector's middle half▲ 0.100.29below the sector's middle half▲ 0.060.29below the sector's middle half=0.14below the sector's middle half▼ 0.150.22below the sector's middle half▲ 0.08
Return on assets (ROA)10.8%-3.2%within the sector's middle half▼ 7.6pp6.0%within the sector's middle half▲ 2.8pp0.0%below the sector's middle half▼ 5.9pp0.3%below the sector's middle half▲ 0.3pp-3.4%below the sector's middle half▼ 3.7pp-1.0%below the sector's middle half▲ 2.4pp
Staff (FTE)1-1within the sector's middle half=0.9within the sector's middle half▼ 10.0%
above
within
below
The sector band is the middle half of the companies in Financial service activities, except insurance and pension funding (NACE 64). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a loss of €23,579, smaller than the loss of €167,220 in 2024.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €5.2m
Fixed assets
€4.3m ▼ 2.2%
Current assets
€828,127 ▲ 74.6%
Equity and liabilities €5.2m
Equity
€1.5m ▼ 3.5%
Debt
€3.7m ▲ 9.1%
Debt's share of the balance-sheet total rises from 69.1% to 71.6%. Equity is lower and debt is higher.
Key figures and ratios
ROE
-3.6%▲
2024 · -10.9%
Debt ≤ 1 year
€3.7m▲
2024 · €3.4m
Income taxes
€142▼
2024 · €154
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 30-09-2021 |
|---|---|
| Average over the year, in full-time equivalents | 0.9 |
| Joined | 0 |
| Left | 1 |
Source: social balance sheet in the 2021 annual accounts
Investments
| Item | 30-09-2021 | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €15,446 | €23,288 | €9,773 | €1.2m | €38,637 |
| Financial fixed assets | - | - | €600,000 | - | - |
| Depreciation and write-downs of the year | €106,515 | €107,514 | €100,604 | €205,590 | €135,248 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €61,994 | - | - | - |
| Remuneration, social security and pensions62 | - | - | €48,252 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €74,682 | €201,464 | €106,515 | €107,514 | €100,604 | €205,590 | €135,248 | ▼ 34.2% |
| Other operating charges640/8 | - | - | €5,289 | €5,372 | €4,365 | €11,311 | €9,514 | ▼ 15.9% |
| Gross operating margin9900 | €335,872 | €422,211 | €482,537 | €96,761 | €124,566 | €49,681 | €121,183 | ▲ 144% |
| Operating profit (loss)9901 | €201,249 | €169,364 | €322,481 | -€16,124 | €19,597 | -€167,220 | -€23,579 | ▲ 85.9% |
| Financial income75/76B | - | - | €567 | €4,813 | €1,902 | €2,779 | €16,753 | ▲ 503% |
| Recurring financial income75 | €196,212 | €200 | €567 | €4,813 | €1,902 | €2,779 | €16,753 | ▲ 503% |
| Financial charges65/66B | - | - | €26,537 | €660 | €5,132 | €1,567 | €46,142 | ▲ 29× |
| Recurring financial charges65 | €15,363 | €23,226 | €26,537 | €660 | €5,132 | €1,567 | €46,142 | ▲ 29× |
| Profit (loss) for the period before taxes9903 | €382,099 | €146,338 | €296,512 | -€11,971 | €16,368 | -€166,008 | -€52,969 | ▲ 68.1% |
| Income taxes67/77 | €49,607 | €44,590 | €102,816 | -€12,859 | €3,328 | €154 | €142 | ▼ 7.7% |
| Profit (loss) for the period9904 | €332,492 | €101,749 | €193,695 | €888 | €13,040 | -€166,162 | -€53,111 | ▲ 68.0% |
| Profit (loss) for the period to be appropriated9905 | €332,492 | €101,749 | €193,695 | €888 | €13,040 | -€166,162 | -€53,111 | ▲ 68.0% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €3.1m | €3.2m | €3.3m | €3.3m | €4.0m | €4.9m | €5.2m | ▲ 5.2% |
| Fixed assets21/28 | €2.5m | €3.0m | €3.0m | €2.9m | €3.4m | €4.4m | €4.3m | ▼ 2.2% |
| Tangible fixed assets22/27 | €1.5m | €2.0m | €1.9m | €1.8m | €1.7m | €2.8m | €2.7m | ▼ 3.5% |
| Land and buildings22 | - | - | €1.8m | €1.7m | €1.6m | €2.6m | €2.6m | ▼ 2.5% |
| Plant, machinery and equipment23 | - | - | €0.06m | €0.06m | €0.06m | €0.07m | €0.06m | ▼ 11.3% |
| Furniture and vehicles24 | - | - | €0.03m | €0.03m | €0.02m | €0.08m | €0.06m | ▼ 28.2% |
| Financial fixed assets28 | €1.1m | €1.1m | €1.1m | €1.1m | €1.7m | €1.7m | €1.7m | = |
| Current assets29/58 | €0.6m | €0.2m | €0.3m | €0.4m | €0.7m | €0.5m | €0.8m | ▲ 74.6% |
| Amounts receivable within one year40/41 | €0.09m | €0.08m | €0.2m | €0.1m | €0.4m | €0.3m | €0.3m | ▲ 19.2% |
| Trade receivables40 | - | - | €0.1m | €0.1m | €0.3m | €0.2m | €0.3m | ▲ 43.9% |
| Other amounts receivable41 | - | - | €0.04m | €0.04m | €0.06m | €0.06m | €0.02m | ▼ 61.2% |
| Current investments50/53 | - | €0.03m | €0.05m | €0.08m | €0.1m | €0.1m | €0.1m | = |
| Cash at bank and in hand54/58 | €0.5m | €0.06m | €0.07m | €0.2m | €0.2m | €0.09m | €0.4m | ▲ 347% |
| Deferred charges and accrued income490/1 | - | - | €0.009m | €0.009m | €0.009m | €0.009m | €0.01m | ▲ 34.3% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €3.1m | €3.2m | €3.3m | €3.3m | €4.0m | €4.9m | €5.2m | ▲ 5.2% |
| Equity10/15 | €1.4m | €1.5m | €1.7m | €1.7m | €1.7m | €1.5m | €1.5m | ▼ 3.5% |
| Contributions10/11 | €0.02m | €0.02m | €0.01m | €0.01m | €0.01m | €0.02m | €0.02m | = |
| Contributions outside capital11 | - | - | €0.01m | €0.01m | - | - | - | - |
| Other1109/19 | - | - | €0.01m | €0.01m | - | - | - | - |
| Reserves13 | €1.4m | €1.5m | €1.7m | €1.7m | €1.7m | €1.6m | €1.6m | = |
| Tax-exempt reserves132 | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Distributable reserves133 | - | - | €1.6m | €1.6m | €1.6m | €1.5m | €1.5m | = |
| Profit (loss) carried forward14 | - | - | - | - | - | -€0.05m | -€0.1m | ▼ 104% |
| Amounts payable17/49 | €1.7m | €1.8m | €1.6m | €1.6m | €2.3m | €3.4m | €3.7m | ▲ 9.1% |
| Amounts payable after more than one year17 | €0.5m | €0.4m | €0.3m | €0.2m | €0.08m | - | - | - |
| Financial debts170/4 | - | - | €0.3m | €0.2m | €0.08m | - | - | - |
| Amounts payable within one year42/48 | €1.2m | €1.4m | €1.3m | €1.4m | €2.2m | €3.4m | €3.7m | ▲ 9.1% |
| Trade debts44 | €0.05m | €0.02m | €0.006m | €0.009m | €0.1m | €0.07m | €0.08m | ▲ 11.8% |
| Suppliers440/4 | - | - | €0.006m | €0.009m | €0.1m | €0.07m | €0.08m | ▲ 11.8% |
| Taxes, remuneration and social security45 | - | - | €0.05m | €0.005m | €0.009m | €0.009m | €0.01m | ▲ 61.6% |
| Taxes450/3 | - | - | €0.05m | €0.005m | €0.009m | €0.009m | €0.01m | ▲ 61.6% |
| Other amounts payable47/48 | - | - | €1.2m | €1.4m | €2.1m | €3.3m | €3.6m | ▲ 9.0% |
| Accrued charges and deferred income492/3 | - | - | €0.02m | - | - | - | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.3m | €0.1m | €0.2m | €0.001m | €0.01m | -€0.2m | -€0.05m | ▲ 68.0% |
| + Depreciation and write-downs630 | €0.07m | €0.2m | €0.1m | €0.1m | €0.1m | €0.2m | €0.1m | ▼ 34.2% |
| Operating cash flow (approximation) | €0.4m | €0.3m | €0.3m | €0.1m | €0.1m | €0.04m | €0.08m | ▲ 108% |
| Investment in fixed assets (approximation) | - | -€0.7m | -€0.02m | -€0.02m | -€0.6m | -€1.3m | -€0.04m | ▲ 97.0% |
| Change in cash | - | -€0.4m | €0.007m | €0.1m | -€0.03m | -€0.08m | €0.3m | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 28 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | abbreviated format | 22-05-2026 | 2026-00121303 | |
| 30-09-2024 | abbreviated format | 27-04-2025 | 2025-00078003 | |
| 30-09-2023 | abbreviated format | 14-05-2024 | 2024-00088361 | |
| 30-09-2022 | abbreviated format | 02-05-2023 | 2023-00076115 | |
| 30-09-2021 | abbreviated format | 05-05-2022 | 2022-20021017 | |
| 30-09-2020 | abbreviated format | 04-05-2021 | 2021-13100316 | |
| 30-09-2019 | abbreviated format | 05-05-2020 | 2020-11500235 | |
| 30-09-2018 | abbreviated format | 08-05-2019 | 2019-12800030 | |
| 30-09-2017 | abbreviated format | 02-05-2018 | 2018-12000096 | |
| 30-09-2016 | abbreviated format | 08-05-2017 | 2017-11600029 |
Board & ownership
Directors
Directors
2 directors
Capoen Lieve
Current
Director · listed in the 2025 annual accounts, filed on 22-05-2026
Markey Luc
Current
Director · listed in the 2025 annual accounts, filed on 22-05-2026
Owners and capital
Owners
Mandate history
2 people, 2 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Capoen Lieve |
|
| Markey Luc |
|
Network & group
Holdings and subsidiaries
3 holdingsHoldings 3
Source for every holding own accounts 30-09-2025
- INNOVENTsubsidiaryEquity €696,816 Loss of €3,403 in 2024 (loss of €5,781 in 2023) Checked score 56100%
- LUMATECsubsidiaryEquity €7.0m Loss of €8,546 in 2025 (profit of €120,660 in 2024) Checked score 5787.36%
- Equity €408,797 Profit of €46,940 in 2024 (profit of €32,266 in 2023) Checked score 57100 shares
Board mandates elsewhere
1 board mandateBoard mandates of M.C.E.M.C.E. sits on their board1
1 location
Companies at the same address
1 other companyConnections & network
2 current directorsThe board mandates are listed under Board mandates elsewhere. The network lets you explore the same ties.
This company
Company
Director
Shareholding
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Timeline
Acts, filings and financial milestones
Deadline for the 2026 accounts:
2026
22-05
abbreviated format · 22 days late
2025
27-04
abbreviated format · 3 days before the deadline
2024
30-09
Financial
Weakest financial yearnet -€166,162
The net result drops to -€166,162, the lowest from 2019 to 2025. It recovers the following year.
14-05
abbreviated format · 14 days late
2023
02-05
abbreviated format · 2 days late
2022
2021
04-05
abbreviated format · 4 days late
2020
05-05
abbreviated format · 5 days late
2019
08-05
abbreviated format · 8 days late
2018
02-05
abbreviated format · 2 days late
2017
08-05
abbreviated format · 8 days late
1997
31-07
Gazette deed
Incorporation
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
M.C.E. in Dutch
Enterprise number
0461.179.372
Legal form
Private limited company (pre-2019)
Status
Active, normale toestand
Founded
18-07-1997
Entity type
Legal entity
Registered office and establishments
Registered office
Dehemlaan 17C, 8900 Ieper, Belgium
Establishment unit
Ooststraat 25, 8647 Lo-Reninge since 04-08-1997 · unit number 2.082.860.7092110001 Manufacture of basic pharmaceutical products and pharmaceutical preparations
Activities
NACEBEL 202564210
Activities of holding companies main activity
46431
Wholesale of electrical household appliances and audio-video equipment
70200
Business and other management consultancy
Codes under NACEBEL 2008
64200
Holdings main activity
46431
Wholesale of electrical household appliances and audio-video equipment
70220
Business consulting
Codes under NACEBEL 2003
51430
main activity
74142
Invoicing and payment
VAT number
BE 0461.179.372
Financial year and general meeting
Accounts at the NBBFinancial year end
30-09
Environmental permits
2 applications in Flanders since 2018 · 2 granted
Bouwen of herbouwen; Verwijderen van vrijstaande gebouwen
Bouwen of herbouwen
Source: Omgevingsloket Vlaanderen.
Sites & property
Location
Buildings and parcels at the addresses
Ground area
6,914 m²
Building footprint
1,522 m²
Building volume
1,685 m³
Tallest building: 11.9 m.
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 33305B1039/00W004 | Flanders | 3,935 m² | 1 · 1,323 m² | 3.2 m |
| 32014C0552/02C005 | Flanders | 2,980 m² | 1 · 198 m² | 11.9 m · 3 |