Checked.be
Active
BE 0883.924.277Private limited company
M PLUS
Soldatenstraat 111 ·1082 Sint-Agatha-Berchem, Belgium· 19 yrs active
Sector: Agents in the wholesale of industrial machinery, ships and aircraft
(46140)
Conclusion
M PLUS has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €615k and a net result of €50k. Equity is growing by ~5.4% per year across the filed fiscal years. Its solvency ranks better than 95% of 10877 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.0% (low).
Based on the State Gazette, CBE and 5 annual accounts.
Key figures
| Equity | €615k |
| Net result | €50k |
| Better than sector | 95% |
| Active | 19 yrs |
Financial profile
80
/ 100
Exceptional profile, strong across almost every axis.
All 5 axes are computed from data Checked has read.
Health
83
Profitability
41
Solvency
100
Growth
78
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Established
Founded in 2006, 19 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
83
/ 100
Excellent
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€50k
estimate, not credit advice
Score history
86
2021
100
2022
100
2023
93
2024
83
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 43.03 (≥ 1.5)
+10
Quick ratio
Quick ratio 43.03 (≥ 1.0)
+5
Leverage
Debt/equity 0.02 (< 1.0)
+10
Profitability
ROE 8%
+3
Interest coverage
Interest coverage 290.9× (≥ 3×)
+8
Profit trend
Net profit down YoY
-3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 30-07-2026 with the NBB · fiscal year 2025 · micro schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Equity: growth of ~5.4%/year over 5 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 46, Wholesale trade · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 97.8% | 42.6% | |
| Net result | €50k | €6k | |
| Equity | €615k | €60k | |
| Gross operating margin | €85k | €29k | |
| Total assets | €629k | €175k |
€84k
-42.8%
21-25
€50k
-47.9%
21-25
€62k
-43.2%
21-25
€629k
-7.2%
21-25
€615k
-7.3%
21-25
€593k
-5.8%
21-25
€25k
-36.5%
21-25
€98k
+87.3%
21-25
€14k
-1.0%
21-25
€14k
-1.0%
21-25
€0
-100.0%
21-25
43.03
-4.7%
21-25
43.03
-4.7%
21-25
97.8%
-0.1%
21-25
0.02
+6.8%
21-25
8.1%
-43.8%
21-25
7.9%
-43.9%
21-25
290.93
+75.4%
21-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema | micro schema | micro schema |
| Revenue | - | - | - | - | - |
| EBITDA | €84k | €147k | €168k | €130k | €74k |
| Net profit | €50k | €96k | €113k | €87k | €47k |
| Cash flow | €62k | €109k | €122k | €96k | €53k |
| Staff costs | - | - | - | - | - |
| Income taxes | €25k | €40k | €46k | €35k | €20k |
| Dividends | €98k | €53k | €53k | €63k | €51k |
| Total assets | €629k | €677k | €652k | €593k | €565k |
| Equity | €615k | €663k | €620k | €560k | €535k |
| Debt | €14k | €14k | €32k | €33k | €30k |
| of which ≤ 1y | €14k | €14k | €32k | €30k | €17k |
| of which > 1y | - | - | €0 | €3k | €12k |
| Working capital | €593k | €629k | €603k | €540k | €517k |
| Employees (FTE) | - | - | - | - | - |
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 43.03 | 45.14 | 19.99 | 18.87 | 30.59 |
| Quick ratio | 43.03 | 45.14 | 19.99 | 18.87 | 30.59 |
| Working capital ratio | 94.3% | 92.9% | 92.5% | 91.0% | 91.6% |
| Solvency | 97.8% | 97.9% | 95.1% | 94.4% | 94.8% |
| Debt / equity | 0.02 | 0.02 | 0.05 | 0.06 | 0.06 |
| Long-term debt ratio | - | - | 0.00 | 0.01 | 0.02 |
| Interest coverage | 290.93 | 165.83 | 185.71 | 92.06 | 53.78 |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | 7.9% | 14.1% | 17.3% | 14.7% | 8.3% |
| ROE | 8.1% | 14.4% | 18.2% | 15.6% | 8.8% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (25 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €629k | €677k | €652k | €593k | €565k |
| Fixed assets | 21/28 | €21k | €34k | €17k | €23k | €30k |
| Tangible fixed assets | 22/27 | €21k | €34k | €13k | €20k | €27k |
| Financial fixed assets | 28 | €0 | €75 | €4k | €4k | €3k |
| Current assets | 29/58 | €607k | €644k | €635k | €570k | €535k |
| Amounts receivable within one year | 40/41 | €13k | €28k | €76k | €48k | €35k |
| Investments | 50/53 | €29k | €50k | €50k | €50k | €83k |
| Cash & bank | 54/58 | €560k | €560k | €507k | €470k | €413k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €629k | €677k | €652k | €593k | €565k |
| Equity | 10/15 | €615k | €663k | €620k | €560k | €535k |
| Contributions / capital | 10/11 | €16k | €16k | €16k | €16k | €16k |
| Reserves | 13 | €461k | €510k | €467k | €407k | €382k |
| Accumulated profits (losses) | 14 | €137k | €137k | €137k | €137k | €137k |
| Amounts payable | 17/49 | €14k | €14k | €32k | €33k | €30k |
| Amounts payable after one year | 17 | - | - | €0 | €3k | €12k |
| Amounts payable within one year | 42/48 | €14k | €14k | €32k | €30k | €17k |
| Trade debts payable within one year | 44 | €2k | €6k | €3k | €3k | €3k |
| Income statement | ||||||
| Gross operating margin | 9900 | €85k | €156k | €168k | €132k | €76k |
| Operating result | 9901 | €72k | €134k | €158k | €121k | €67k |
| Financial income | 75 | €4k | €3k | €1k | €3k | €716 |
| Financial charges | 65 | €289 | €887 | €902 | €1k | €1k |
| Result before taxes | 9903 | €75k | €136k | €158k | €123k | €67k |
| Income taxes | 67/77 | €25k | €40k | €46k | €35k | €20k |
| Net result for the period | 9904 | €50k | €96k | €113k | €87k | €47k |
| Result to be appropriated | 9905 | €50k | €96k | €113k | €87k | €47k |
Directors & mandates
Current directors & mandates
-
MINNE MichelDirectorState Gazette act 22337645 (13-06-2022)Current13-06-2022 → present
Legal Structure
| NACE primary | Agents in the wholesale of industrial machinery, ships and aircraft(46140) |
| Legal form | Private limited company(610) |
| Incorporation | 03-10-2006 |
| Status | Active |
| Postal code | 1082 |
Establishment units
Soldatenstraat 111, 1082 Sint-Agatha-Berchem
since 20062.157.651.766
Dendermondestraat 39, 1785 Merchtem
since 20152.244.887.628
Real-estate footprint
Flanders
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23602H0423/00T000 | Flanders | 431 m² | 1 · 237 m² | 12.0 m · 4 fl. |
| 21003A0113/02G004 | Brussels | 172 m² | 1 · 79 m² | 12.8 m · 3 fl. |
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates
Next filing, fiscal year 2026, expected by
2026
30-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
05-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 5 days late
2024
31-12
Financial
Liquidity doublescurrent ratio 45.14
Current ratio from 19.99 to 45.14; short-term debt falls from €32k to €14k.
22-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 22 days late
2023
31-12
Financial
Highest result since 2021net €113k ▲29.1%
Operating result €158k, net result €113k, both a record.
13-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 13 days late
2022
27-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 27 days late
13-06
State Gazette act
Statutes amendment
v3.2
2021
09-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 9 days late
2020
22-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
02-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
09-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
12-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
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.
Belgisch Staatsblad, acts
All acts · 1
updated 4 years ago
2022
13-06-2022 Articles of association amended
Summary:
v3.2
Technical details
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"subject_company": {
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"name_full": "M PLUS"
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}Credit advice
Company registry (CBE)
Activities
Agents in the wholesale of industrial machinery, ships and aircraft46140Agents in the wholesale of furniture, household goods and hardware46150Retail trade47783Retail trade477845115052488Business and other management consultancy70200Business consulting7022074142
Names & trade names
| Legal nameFR | M PLUS |
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