M2V
ActiveSummary
M2V has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €637k and a net result of €-3k. Equity is growing by ~5.8% per year across the filed fiscal years. Its solvency ranks better than 29% of 2015 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability49▲+19
Solvency52▼-1
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €40k at 30 days acceptable
Liquidity short (current ratio 0.2 against 0.22 in 2024; short-term debt: 17.2% and cash: 1.8% of total assets), and 72.7% of the assets are financed with debt.
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Signals
Five 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 71
Relative position
BE, all sectors
reference
Architectural and engineering activities; technical testing and analysis (NACE 71)
about 56% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
19202122232425
2019 to 2025 · latest year €-3k
neutral · A punctual record breaks
This company filed 8 consecutive financial years on time. The year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 09-02-2026, 9 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
9 d late
2024
23 d early
2023
on the day
2022
11 d early
2021
3 d early
2020
2 d early
2019
17 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close25-09-2026 today31-01-2027 deadline
History
Financials · fiscal year 2025, abbreviated schema
Equity
€637k▼ 0.5%
2024 · €640k
Total assets
€2.33M▲ 1.1%
2024 · €2.30M
Net result
€-3k▲ 95.0%
2024 · €-59k
Working capital
€-322k▲ 10.3%
2024 · €-359k
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€79k▲ 75.6%€96k▲ 20.8%€169k▲ 75.7%€-11k€40k
Net result€50k▲ 16.4%€62k▲ 24.7%€119k▲ 91.4%€-59k€-3k▲ 95.0%
Equity€539k▲ 7.0%€602k▲ 11.6%€698k▲ 16.1%€640k▼ 8.4%€637k▼ 0.5%
Total assets€2.36M▲ 5.8%€2.39M▲ 1.3%€2.47M▲ 3.1%€2.30M▼ 6.6%€2.33M▲ 1.1%
Debt€1.82M▲ 5.5%€1.79M▼ 1.8%€1.76M▼ 1.8%€1.66M▼ 5.9%€1.68M▲ 1.7%
Working capital€-1.21M▼ 12.3%€-428k▲ 64.6%€-289k▲ 32.5%€-359k▼ 24.2%€-322k▲ 10.3%
Staff (FTE)0.4=0.4=4▲ 900%0.8▼ 80.0%1▲ 25.0%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €40k after a loss of €11k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.33M
Fixed assets
€2.25M ▲ 2.2%
Current assets
€79k ▼ 23.5%
Equity and liabilities €2.33M
Equity
€637k ▼ 0.5%
Provisions
€8k ▼ 3.1%
Debt
€1.68M ▲ 1.7%
Debt's share of the balance-sheet total rises from 71.9% to 72.3%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€155k▲
2024 · €85k
Cash flow
€112k▲
2024 · €37k
Current ratio
0.20▼
2024 · 0.22
Quick ratio
0.18▼
2024 · 0.21
Debt to equity
2.65▲
2024 · 2.59
ROE
-0.5%▲
2024 · -9.2%
ROA
-0.1%▲
2024 · -2.5%
Interest coverage
3.59▲
2024 · 1.77
Debt ≤ 1 year
€401k▼
2024 · €463k
Debt > 1 year
€1.28M▲
2024 · €1.19M
Staff costs
€67k▲
2024 · €44k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €108k | - | - | - |
| Remuneration, social security and pensions62 | - | €14k | €14k | €44k | €67k | ▲ 51.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €74k | €85k | €108k | €96k | €115k | ▲ 19.9% |
| Other operating charges640/8 | - | €16k | €11k | €64k | €13k | ▼ 79.9% |
| Gross operating margin9900 | €183k | €211k | €301k | €193k | €235k | ▲ 21.5% |
| Operating profit (loss)9901 | €79k | €96k | €169k | €-11k | €40k | ▲ 459% |
| Financial income75/76B | - | €0 | €219 | €18 | €6 | ▼ 65.7% |
| Recurring financial income75 | €7 | €0 | €219 | €18 | €6 | ▼ 65.7% |
| Financial charges65/66B | - | €14k | €22k | €48k | €43k | ▼ 10.1% |
| Recurring financial charges65 | €16k | €14k | €22k | €48k | €43k | ▼ 10.1% |
| Profit (loss) for the period before taxes9903 | €64k | €82k | €147k | €-59k | €-3k | ▲ 94.6% |
| Transfer from deferred taxes780 | - | - | €3 | €267 | €267 | = |
| Transfer to deferred taxes680 | - | - | €9k | - | - | - |
| Income taxes67/77 | €14k | €20k | €18k | - | - | - |
| Profit (loss) for the period9904 | €50k | €62k | €119k | €-59k | €-3k | ▲ 95.0% |
| Transfer from tax-exempt reserves789 | - | - | €9 | €802 | €802 | = |
| Transfer to tax-exempt reserves689 | - | - | €26k | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €50k | €62k | €93k | €-58k | €-2k | ▲ 96.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.36M | €2.39M | €2.47M | €2.30M | €2.33M | ▲ 1.1% |
| Fixed assets21/28 | €2.24M | €2.22M | €2.21M | €2.20M | €2.25M | ▲ 2.2% |
| Tangible fixed assets22/27 | €2.24M | €2.22M | €2.21M | €2.20M | €2.25M | ▲ 2.2% |
| Land and buildings22 | - | €2.14M | €2.14M | €2.11M | €2.11M | ▼ 0.2% |
| Plant, machinery and equipment23 | - | €50k | €44k | €58k | €57k | ▼ 2.2% |
| Furniture and vehicles24 | - | €2k | €9k | €15k | €75k | ▲ 402% |
| Leasing and similar rights25 | - | €22k | €17k | €12k | €7k | ▼ 41.5% |
| Other tangible fixed assets26 | - | €653 | €653 | €653 | €653 | = |
| Financial fixed assets28 | - | - | €5k | €725 | €725 | = |
| Current assets29/58 | €126k | €176k | €256k | €104k | €79k | ▼ 23.5% |
| Stocks and contracts in progress3 | €3k | €3k | €4k | €6k | €7k | ▲ 20.3% |
| Stocks30/36 | - | €3k | €4k | €6k | €7k | ▲ 20.3% |
| Amounts receivable within one year40/41 | €109k | €151k | €144k | €54k | €22k | ▼ 58.5% |
| Trade receivables40 | - | €37k | €37k | €43k | €20k | ▼ 52.7% |
| Other amounts receivable41 | - | €114k | €107k | €10k | €2k | ▼ 82.5% |
| Cash at bank and in hand54/58 | €8k | €17k | €101k | €37k | €42k | ▲ 14.1% |
| Deferred charges and accrued income490/1 | - | €5k | €7k | €7k | €7k | ▲ 9.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.36M | €2.39M | €2.47M | €2.30M | €2.33M | ▲ 1.1% |
| Equity10/15 | €539k | €602k | €698k | €640k | €637k | ▼ 0.5% |
| Contributions10/11 | - | €19k | €19k | €19k | €19k | = |
| Reserves13 | €521k | €583k | €680k | €621k | €618k | ▼ 0.5% |
| Non-distributable reserves130/1 | - | €2k | €2k | - | - | - |
| Reserves not available under the articles1311 | - | €2k | €2k | - | - | - |
| Tax-exempt reserves132 | - | €129k | €156k | €155k | €154k | ▼ 0.5% |
| Distributable reserves133 | - | €452k | €522k | €466k | €464k | ▼ 0.5% |
| Provisions and deferred taxes16 | - | - | €9k | €9k | €8k | ▼ 3.1% |
| Deferred taxes168 | - | - | €9k | €9k | €8k | ▼ 3.1% |
| Amounts payable17/49 | €1.82M | €1.79M | €1.76M | €1.66M | €1.68M | ▲ 1.7% |
| Amounts payable after more than one year17 | €487k | €1.19M | €1.21M | €1.19M | €1.28M | ▲ 7.4% |
| Financial debts170/4 | - | €458k | €567k | €537k | €571k | ▲ 6.3% |
| Other amounts payable178/9 | - | €728k | €647k | €657k | €712k | ▲ 8.4% |
| Amounts payable within one year42/48 | €1.34M | €605k | €546k | €463k | €401k | ▼ 13.3% |
| Current portion of amounts payable after more than one year42 | - | €51k | €67k | €67k | €74k | ▲ 10.9% |
| Financial debts43 | - | €493k | €428k | €363k | €298k | ▼ 17.9% |
| Credit institutions430/8 | - | €493k | €428k | €363k | €298k | ▼ 17.9% |
| Trade debts44 | €4k | €25k | €17k | €17k | €6k | ▼ 66.2% |
| Suppliers440/4 | - | €25k | €17k | €17k | €6k | ▼ 66.2% |
| Taxes, remuneration and social security45 | - | €30k | €30k | €12k | €19k | ▲ 64.8% |
| Taxes450/3 | - | €29k | €29k | €8k | €12k | ▲ 64.1% |
| Remuneration and social security454/9 | - | €2k | €1k | €4k | €7k | ▲ 66.2% |
| Other amounts payable47/48 | - | €5k | €4k | €4k | €4k | = |
| Accrued charges and deferred income492/3 | - | €1k | €575 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €50k | €62k | €119k | €-59k | €-3k | ▲ 95.0% |
| + Depreciation and write-downs630 | €74k | €85k | €108k | €96k | €115k | ▲ 19.9% |
| Operating cash flow (approximation) | €124k | €148k | €227k | €37k | €112k | ▲ 202% |
| Investment in fixed assets (approximation) | - | €-66k | €-101k | €-86k | €-163k | ▼ 89.1% |
| Change in cash | - | €9k | €85k | €-64k | €5k | ▲ 108% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
More with these figures Sector benchmark What changed Value indication
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
09-02
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 9 days late
2025
08-01
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
30-06
Financial
Weakest financial yearnet €-59k
Net result drops to €-59k, the lowest in the series; recovery starts the following year.
31-01
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-06
Financial
Highest result since 2019net €119k ▲91.4%
Operating result €169k, net result €119k, both a record.
20-01
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
28-01
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
29-01
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
30-06
Financial
Back to profitnet €43k
Net result €43k after one loss-making year.
30-06
Financial
Equity above €500kEq €504k ▲9.3%
Equity rises from €461k to €504k.
14-01
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
28-01
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
17-01
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
07-02
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 7 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
4 acts for this company are 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, Veurne · 2 establishment units since 2006
Ground area
2,885 m²
Building footprint
767 m²
Volume, LiDAR
2,422 m³
2 parcels, Flanders · tallest building 7.4 m, ±2 floors. Linked by address, not a title deed.
2 establishment units
M2V
since 20062.155.977.527
M2V
since 20192.385.549.110
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 38025B0283/00H002 | Flanders | 1,787 m² | 1 · 235 m² | 0.7 m |
| 35005A0675/00X000 | Flanders | 1,098 m² | 1 · 532 m² | 7.4 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 4 entries · 3,002 EUR awarded · 3,002 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 2 | 2,327 EUR | 2,327 EUR |
| 2024 | 1 | 108 EUR | 108 EUR |
| 2022 | 1 | 567 EUR | 567 EUR |
Schemes
Retroactieve investeringspremie voor eigenaars van zonnepanelen na afschaffing van terugdraaiende teller
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 11,571 companies in sector 71121 we hold annual accounts for 6,561. 4,100 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
Founded25-08-2006
Fiscal year end30-06
Activities, NACEBEL 2025
71121Engineering and related technical consultancy, excluding land surveyors
Scores and ratios are computed by Checked and are not a credit decision.