Equity
M2Mcom paid out €16,092 in dividends. That is 24% of the 2025 profit.
The dashed line is the sector median: 0.8% across 527 companies (NACE 61, micro).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 61, micro). It does better than 63% of them on solvency, 61% on liquidity, 64% on profitability and 68% 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).
Liquidity is tight, with a current ratio of 1.28 (1.15 in 2024), below the usual 1.5. Short-term debt is 21.9% and cash 12.2% of total assets. 44.1% of the assets are financed with debt and provisions.
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.
The company filed its last 7 accounts on average 12 days before the deadline. In the sector (NACE 61), the median for financial year 2024 was on the deadline day, and 47% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| M2Mcom Londerzeel | €618,653 | €97,739 | 55.9% | - |
| KEO CONSULTING Sint-Genesius-Rode | €635,189 | €126,582 | 44.9% | - |
| Magikals Stabroek | €573,583 | €91,797 | 9.1% | - |
| TECH MGT Braine-l'Alleud | €469,022 | €102,412 | 79.7% | - |
| DELCROIX BENJAMIN Grobbendonk | €512,888 | €86,186 | 84.0% | - |
| MOBILE PALACE Molenbeek-Saint-Jean | €408,123 | €97,471 | 95.9% | - |
| EFFORTEL Watermael-Boitsfort | €911,271 | €122,894 | 10.1% | 1 |
These companies have the same main activity as M2Mcom: wired, wireless and satellite telecommunications (NACE 61100). They are comparable in size and age: total assets between €408,000 and €911,000, founded between 2005 and 2011.
M2Mcom files the abbreviated format. That format states no turnover. The gross margin rose from €16,899 in 2010 to €97,739 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
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 ≈ €270,000. Estimated: probably between €170,000 and €520,000.
Higher than 64% of 122 companies in 2025.
Higher than 40% of 118 companies in 2025.
Higher than 71% of 117 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: middle half · Working capital: middle half
Staff costs divided by the average number of full-time equivalents.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||||||||
20/58 |
618,653 | 615,156 | 601,528 | 593,055 | 537,768 | 118,527 | 152,283 | 108,284 | 137,829 | 193,928 | 72,945 | 50,846 | 82,032 | 72,313 | 117,026 | 72,142 | |
21/28 |
445,384 | 446,617 | 450,849 | 444,770 | 444,770 | 51,651 | 63,433 | 21,777 | 6,063 | 3,183 | 2,801 | 2,447 | 4,426 | 5,257 | 18,950 | 27,730 | |
21 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 1,038 | 2,965 | |
22/27 |
615 | 1,847 | 3,079 | - | - | 51,651 | 63,383 | 21,727 | 6,013 | 3,133 | 2,751 | 2,397 | 4,376 | 5,207 | 17,887 | 24,765 | |
23 |
- | - | - | - | - | 1,869 | 2,804 | - | - | - | - | - | - | - | - | - | |
24 |
615 | 1,847 | 3,079 | - | - | 66 | 1,266 | 3,087 | 6,013 | 3,133 | 2,751 | 2,397 | 4,376 | 5,207 | 17,887 | 24,765 | |
26 |
- | - | - | - | - | 49,716 | 59,313 | 18,641 | - | - | - | - | - | - | - | - | |
28 |
444,770 | 444,770 | 447,770 | 444,770 | 444,770 | - | 50 | 50 | 50 | 50 | 50 | 50 | 50 | 50 | 25 | - | |
29/58 |
173,269 | 168,539 | 150,679 | 148,285 | 92,998 | 66,876 | 88,850 | 86,506 | 131,766 | 190,745 | 70,144 | 48,400 | 77,606 | 67,056 | 98,076 | 44,412 | |
29 |
3,000 | 3,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
291 |
3,000 | 3,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
3 |
- | - | - | 1,500 | 1,500 | 3,544 | 6,593 | - | 5,078 | 21,541 | - | - | - | - | - | - | |
30/36 |
- | - | - | 1,500 | 1,500 | 3,544 | 6,593 | - | 5,078 | 21,541 | - | - | - | - | - | - | |
40/41 |
95,036 | 107,848 | 94,966 | 85,951 | 59,173 | 54,605 | 49,814 | 31,205 | 56,351 | 78,989 | 51,870 | 31,063 | 54,947 | 43,288 | 51,843 | 42,342 | |
40 |
91,666 | 104,478 | 91,596 | 57,581 | 54,277 | 49,111 | 44,320 | 27,835 | 52,310 | 59,673 | 48,474 | 24,260 | 40,577 | 27,776 | 45,547 | 40,852 | |
41 |
3,370 | 3,370 | 3,370 | 28,370 | 4,896 | 5,494 | 5,494 | 3,370 | 4,041 | 19,316 | 3,396 | 6,802 | 14,370 | 15,512 | 6,297 | 1,490 | |
54/58 |
75,233 | 57,691 | 55,714 | 60,835 | 29,307 | 7,344 | 21,875 | 55,301 | 70,337 | 90,215 | 18,274 | 17,337 | 22,659 | 19,895 | 46,233 | 2,070 | |
490/1 |
- | - | - | - | 3,018 | 1,383 | 10,568 | - | - | - | - | - | - | 3,873 | - | - | |
| Balance sheet: equity and liabilities | |||||||||||||||||
10/49 |
618,653 | 615,156 | 601,528 | 593,055 | 537,768 | 118,527 | 152,283 | 108,284 | 137,829 | 193,928 | 72,945 | 50,846 | 82,032 | 72,313 | 117,026 | 72,142 | |
10/15 |
345,657 | 295,020 | 239,043 | 156,526 | 88,447 | 48,346 | 64,604 | 53,776 | 41,896 | 41,143 | 41,818 | 34,437 | 34,774 | 34,898 | 29,676 | 21,155 | |
10/11 |
21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | |
100 |
- | - | - | - | - | - | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 | |
13 |
324,657 | 274,020 | 218,043 | 135,526 | 67,447 | 27,346 | 43,604 | 32,776 | 20,896 | 20,143 | 20,818 | 13,437 | 13,774 | 13,898 | 8,676 | 155 | |
130/1 |
- | - | - | - | 2,100 | - | - | - | - | - | - | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 2,100 | 2,100 | 2,100 | 2,100 | 2,100 | 2,100 | 2,100 | 2,100 | 2,100 | 155 | |
1311 |
- | - | - | - | 2,100 | - | - | - | - | - | - | - | - | - | - | - | |
133 |
324,657 | 274,020 | 218,043 | 135,526 | 65,347 | 27,346 | 41,504 | 30,676 | 18,796 | 18,043 | 18,718 | 11,337 | 11,674 | 11,798 | 6,576 | - | |
17/49 |
272,996 | 320,136 | 362,485 | 436,529 | 449,321 | 70,180 | 87,678 | 54,508 | 95,933 | 152,785 | 31,127 | 16,409 | 47,259 | 37,415 | 87,351 | 50,987 | |
17 |
137,779 | 172,976 | 212,743 | 251,946 | 290,597 | 31,782 | 38,730 | - | - | - | - | - | - | - | 4,675 | 11,399 | |
170/4 |
137,779 | 172,976 | 212,743 | 251,946 | 290,597 | 31,782 | 38,730 | - | - | - | - | - | - | - | 4,675 | 11,399 | |
42/48 |
135,217 | 147,160 | 149,742 | 184,583 | 158,724 | 38,398 | 48,948 | 54,508 | 95,933 | 152,785 | 31,127 | 16,409 | 47,259 | 37,415 | 77,434 | 39,588 | |
42 |
35,197 | 39,767 | 39,203 | 38,650 | 38,104 | 6,948 | 6,807 | - | - | - | - | - | - | 4,675 | 6,724 | 6,520 | |
44 |
21,626 | 14,275 | 11,647 | 26,226 | 15,979 | 18,129 | 37,387 | 42,847 | 92,935 | 149,783 | 23,681 | 9,397 | 38,670 | 27,042 | 56,735 | 27,250 | |
440/4 |
21,626 | 14,275 | 11,647 | 26,226 | 15,979 | 18,129 | 37,387 | 42,847 | 92,935 | 149,783 | 23,681 | 9,397 | 38,670 | 27,042 | 56,735 | 27,250 | |
45 |
19,070 | 15,685 | 32,793 | 44,012 | 28,846 | 13,321 | 4,754 | 11,661 | 2,998 | 3,002 | 7,446 | 7,012 | 8,588 | 698 | 3,975 | 5,819 | |
450/3 |
19,070 | 15,685 | 32,793 | 43,923 | 23,330 | 10,139 | 1,450 | 11,661 | 2,998 | 3,002 | 4,936 | 2,205 | 3,049 | - | 2,014 | 3,430 | |
454/9 |
- | - | - | 89 | 5,517 | 3,182 | 3,304 | - | - | - | 2,510 | 4,808 | 5,540 | 698 | 1,961 | 2,388 | |
47/48 |
59,323 | 77,432 | 66,099 | 75,695 | 75,795 | - | - | - | - | - | - | - | - | 5,000 | 10,000 | - | |
492/3 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 5,241 | - | |
| Income statement | |||||||||||||||||
9900 |
97,739 | 89,797 | 125,104 | 105,619 | 74,383 | -205 | 34,243 | 25,761 | 8,633 | 4,959 | 17,988 | 41,999 | 47,111 | 35,774 | 39,028 | 16,899 | |
62 |
- | - | - | - | - | 125 | - | - | - | - | 4,072 | 36,144 | 40,604 | 4,979 | - | - | |
630 |
1,232 | 1,232 | 618 | - | 66 | 14,204 | 17,583 | 7,587 | 2,926 | 1,353 | 1,158 | 1,980 | 1,980 | 3,265 | 9,274 | 13,549 | |
640/8 |
473 | 458 | 348 | - | 14,371 | 1,179 | 1,990 | 1,423 | 1,897 | 790 | 1,164 | 1,318 | 2,611 | 9,702 | 570 | 1,341 | |
9901 |
96,034 | 88,107 | 124,139 | 105,619 | 59,945 | -15,714 | 14,671 | 16,751 | 3,810 | 2,816 | 11,595 | 2,557 | 1,916 | 17,828 | 29,185 | 2,008 | |
75/76B |
305 | 110 | - | - | - | 819 | 5 | 43 | - | 23 | 41 | 8 | 83 | 342 | - | 286 | |
75 |
305 | 110 | - | - | - | 819 | 5 | 43 | - | 23 | 41 | 8 | 83 | 342 | - | 286 | |
65/66B |
2,948 | 9,024 | 7,721 | 9,453 | 5,356 | 1,040 | 1,173 | 79 | 59 | 506 | 560 | 694 | 973 | 533 | 650 | 1,210 | |
65 |
2,948 | 9,024 | 7,721 | 9,453 | 5,356 | 1,040 | 1,173 | 79 | 59 | 506 | 560 | 694 | 973 | 533 | 650 | 1,210 | |
9903 |
93,390 | 79,194 | 116,418 | 96,166 | 54,588 | -15,936 | 13,503 | 16,715 | 3,751 | 2,333 | 11,076 | 1,870 | 1,026 | 17,637 | 28,534 | 1,085 | |
67/77 |
26,662 | 23,217 | 33,900 | 28,087 | 14,488 | 323 | 2,675 | 4,835 | 2,998 | 3,007 | 3,695 | 2,207 | 1,150 | 7,415 | 10,013 | 930 | |
9904 |
66,729 | 55,977 | 82,518 | 68,079 | 40,100 | -16,258 | 10,828 | 11,880 | 753 | -675 | 7,381 | -336 | -124 | 10,222 | 18,521 | 155 | |
9905 |
66,729 | 55,977 | 82,518 | 68,079 | 40,100 | -16,258 | 10,828 | 11,880 | 753 | -675 | 7,381 | -336 | -124 | 10,222 | 18,521 | 155 | |
| Appropriation of the result | |||||||||||||||||
9906 |
66,729 | 55,977 | 82,518 | 68,079 | 40,100 | -16,258 | 10,828 | 11,880 | 753 | -675 | 7,381 | -336 | -124 | 10,222 | 18,521 | 155 | |
791/2 |
16,092 | - | - | - | - | 16,258 | - | - | - | 675 | - | 336 | 124 | - | - | - | |
691/2 |
66,729 | 55,977 | 82,518 | 68,079 | 40,100 | - | 10,828 | 11,880 | 753 | - | 7,381 | - | - | 5,222 | 8,521 | 155 | |
6920 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 1,945 | 155 | |
6921 |
66,729 | 55,977 | 82,518 | 68,079 | 40,100 | - | 10,828 | 11,880 | 753 | - | 7,381 | - | - | 5,222 | 6,576 | - | |
694/7 |
16,092 | - | - | - | - | - | - | - | - | - | - | - | - | 5,000 | 10,000 | - | |
694 |
16,092 | - | - | - | - | - | - | - | - | - | - | - | - | 5,000 | 10,000 | - | |
| Social balance sheet | |||||||||||||||||
9087 |
- | - | - | - | - | - | - | - | - | - | 0.1 | 1 | 1 | 0.3 | - | - | |
Hours worked1013 |
- | - | - | - | - | - | - | - | - | - | 100 | 1,760 | 1,760 | 250 | - | - | |
| Document | |||||||||||||||||
The notes to these accounts have 9 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 14-07-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 14-07-2026 | 2026-00291486 | |
| 31-12-2024 | micro format | 18-07-2025 | 2025-00283335 | |
| 31-12-2023 | micro format | 17-07-2024 | 2024-00252032 | |
| 31-12-2022 | abbreviated format | 17-07-2023 | 2023-00240190 | |
| 31-12-2021 | abbreviated format | 15-07-2022 | 2022-20197455 | |
| 31-12-2020 | micro format | 22-07-2021 | 2021-38000135 | |
| 31-12-2019 | micro format | 30-07-2020 | 2020-35900234 | |
| 31-12-2018 | micro format | 18-07-2019 | 2019-33900429 | |
| 31-12-2017 | micro format | 18-07-2018 | 2018-33900342 | |
| 31-12-2016 | micro format | 19-07-2017 | 2017-32400329 | |
| 31-12-2015 | abbreviated format | 18-07-2016 | 2016-31900141 | |
| 31-12-2014 | abbreviated format | 15-07-2015 | 2015-31100023 | |
| 31-12-2013 | abbreviated format | 10-07-2014 | 2014-29700136 | |
| 31-12-2012 | abbreviated format | 21-06-2013 | 2013-19300433 | |
| 31-12-2011 | abbreviated format | 07-08-2012 | 2012-38300109 | |
| 31-12-2010 | abbreviated format | 13-07-2011 | 2011-28300380 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 97,266 | 89,339 | 124,756 | - | 60,011 | -1,510 | 32,254 | 24,338 | 6,736 | 4,169 | 12,753 | 4,537 | 3,895 | 21,093 | 38,458 | 15,558 | ||
| 67,961 | 57,209 | 83,136 | - | 40,167 | -2,054 | 28,411 | 19,467 | 3,679 | 678 | 8,538 | 1,643 | 1,855 | 13,487 | 27,795 | 13,704 | ||
| 0 | -3,000 | 6,697 | - | 444,770 | 2,473 | 59,239 | 23,301 | 4,346 | 1,735 | 1,512 | 0 | 1,149 | 4,289 | 494 | 41,279 | ||
| 17,542 | 1,977 | -5,121 | 31,527 | 21,964 | -14,532 | -33,426 | -15,036 | -19,878 | 71,941 | 936 | -5,322 | 2,764 | -26,338 | 44,163 | - | ||
| 38,052 | 21,379 | 937 | -36,298 | -65,727 | 28,477 | 39,902 | 31,999 | 35,833 | 37,960 | 39,017 | 31,991 | 30,347 | 29,641 | 20,642 | 4,824 | ||
| 55.9% | 48.0% | 39.7% | 26.4% | 16.4% | 40.8% | 42.4% | 49.7% | 30.4% | 21.2% | 57.3% | 67.7% | 42.4% | 48.3% | 25.4% | 29.3% | ||
| 1.28 | 1.15 | 1.01 | 0.80 | 0.59 | 1.74 | 1.82 | 1.59 | 1.37 | 1.25 | 2.25 | 2.95 | 1.64 | 1.79 | 1.27 | 1.12 | ||
| 1.28 | 1.15 | 1.01 | 0.80 | 0.58 | 1.65 | 1.68 | 1.59 | 1.32 | 1.11 | 2.25 | 2.95 | 1.64 | 1.79 | 1.27 | 1.12 | ||
| 0.79 | 1.09 | 1.52 | 2.79 | 5.08 | 1.45 | 1.36 | 1.01 | 2.29 | 3.71 | 0.74 | 0.48 | 1.36 | 1.07 | 2.94 | 2.41 | ||
| 19.3% | 19.0% | 34.5% | 43.5% | 45.3% | -33.6% | 16.8% | 22.1% | 1.8% | -1.6% | 17.6% | -1.0% | -0.4% | 29.3% | 62.4% | 0.7% | ||
| 10.8% | 9.1% | 13.7% | 11.5% | 7.5% | -13.7% | 7.1% | 11.0% | 0.5% | -0.3% | 10.1% | -0.7% | -0.2% | 14.1% | 15.8% | 0.2% | ||
| 32.99 | 9.90 | 16.16 | - | 11.20 | - | - | - | - | - | - | - | - | - | - | - |
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.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | €3,697 | - | - |
| Financial fixed assets | - | - | €3,000 | - | €444,770 |
| €1,232 | €1,232 | €618 | - | €66 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 9% higher than in 2024. It is a recovery after the fall in 2024.
Debt's share of the balance-sheet total falls from 52.0% to 44.1%. Equity is higher and debt is lower.
Source: list of holdings in its own 2025 accounts. Every holding stands with its own latest accounts.
| FARMA DE HEIDE
registered office since 08-02-2000 · founded in 1999 |
1.4 FTE (2025) 0467.719.053 |
| BTW Eenheid Farma
registered office since 01-05-2024 |
founded in 2024 1007.570.375 |
| Name | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| FARMA DE HEIDE | 100% | ||||
Source: list of holdings in its own accounts
The network starts from the directors of M2Mcom. Every other company they run is a node.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Topmolen 126 registered office 1840 Londerzeel | 06-04-2009 | 2.177.408.686 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 23045C0022/00K000 | 1,023 m² | 1 · 204 m² | 9.3 m · 2 |
If something looks wrong or is missing, please tell us.