MAINLAND
ActiveSummary
The computed 12-month bankruptcy probability of MAINLAND is 4.3% (elevated). The 2024 annual accounts show negative equity (€-10k) and a net result of €5k. Equity is shrinking by ~78.8% per year across the filed fiscal years. Its solvency ranks better than 15% of 397 sector peers (fiscal year 2024). The company has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability83▲+83
Solvency1▲+1
Growth38=
Track record100
Bankruptcy probability, 12 months
4.3%
Elevated
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.5 against 0.36 in 2023; short-term debt: 120.7% and cash: 0.2% of total assets), and equity is negative.
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Signals
Six signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 61
Relative position
BE, all sectors
reference
Telecommunications (NACE 61)
about 159% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
-24.1%
Return on assets
11.7%
Age of the figures
21 mo
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 15% of 397 sector peers (2024).
NBB · sector comparisonPosition among 397 sector peers
Solvency
better than 15%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 19-06-2025, 42 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
not confirmed
2024
42 d early
2023
54 d early
2022
12 d early
2021
26 d late
2020
54 d late
2019
68 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Turnover
€9k▼ 51.9%
2019 · €19k
EBIT margin
-71.1%▼ 19.5pp
2019 · -51.6%
Net result
€5k
2023 · €-8k
Working capital
€-26k▲ 21.5%
2023 · €-33k
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
Line20202021202220232024
Turnover€9k▼ 51.9%
Operating result€-6k▲ 33.7%€-14k▼ 126%€-16k▼ 12.7%€-9k▲ 46.3%€4k
Net result€-5k▲ 38.3%€-13k▼ 145%€-15k▼ 22.4%€-8k▲ 51.0%€5k
EBIT margin-71.1%▼ 19.5pp
Equity€23k▼ 20.4%€10k▼ 57.5%€-6k€-14k▼ 140%€-10k▲ 28.6%
Total assets€50k▼ 16.9%€44k▼ 12.8%€42k▼ 4.6%€40k▼ 5.9%€43k▲ 8.0%
Debt€24k▼ 13.8%€32k▲ 30.4%€46k▲ 45.2%€52k▲ 13.8%€52k▼ 1.2%
Working capital€-3k€-13k▼ 382%€-27k▼ 103%€-33k▼ 21.6%€-26k▲ 21.5%
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2024: €4k after a loss of €9k in 2023, the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €43k
Fixed assets
€17k ▼ 16.4%
Current assets
€26k ▲ 34.3%
Key figures and ratios
EBITDA
€7k▲
2023 · €-5k
Cash flow
€8k▲
2023 · €-4k
Solvency
-24.1%▲
2023 · -36.5%
Current ratio
0.50▲
2023 · 0.36
Debt to equity
-5.01▼
2023 · -3.62
ROA
11.7%▲
2023 · -19.1%
Interest coverage
93.42▲
2023 · -35.41
Debt ≤ 1 year
€52k▼
2023 · €52k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €9k | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3k | €3k | €3k | €3k | €3k | = |
| Other operating charges640/8 | - | €1k | - | €58 | €64 | ▲ 10.0% |
| Gross operating margin9900 | €-3k | €-10k | €-13k | €-5k | €7k | ▲ 238% |
| Operating profit (loss)9901 | €-6k | €-14k | €-16k | €-9k | €4k | ▲ 144% |
| Financial income75/76B | - | €2k | €921 | €892 | €859 | ▼ 3.7% |
| Recurring financial income75 | €859 | €2k | €921 | €892 | €859 | ▼ 3.7% |
| Financial charges65/66B | - | €290 | €228 | €150 | €77 | ▼ 48.6% |
| Recurring financial charges65 | €31 | €290 | €228 | €150 | €77 | ▼ 48.6% |
| Profit (loss) for the period before taxes9903 | €-6k | €-13k | €-15k | €-8k | €5k | ▲ 158% |
| Transfer from deferred taxes780 | - | €361 | - | €361 | €361 | = |
| Profit (loss) for the period9904 | €-5k | €-13k | €-15k | €-8k | €5k | ▲ 166% |
| Transfer from tax-exempt reserves789 | - | - | €361 | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €-5k | €-13k | €-15k | €-8k | €5k | ▲ 166% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €50k | €44k | €42k | €40k | €43k | ▲ 8.0% |
| Fixed assets21/28 | €29k | €26k | €23k | €20k | €17k | ▼ 16.4% |
| Intangible fixed assets21 | €5k | €5k | €4k | €3k | €3k | ▼ 20.0% |
| Tangible fixed assets22/27 | €20k | €18k | €16k | €13k | €10k | ▼ 20.5% |
| Furniture and vehicles24 | - | - | €694 | €520 | €347 | ▼ 33.3% |
| Other tangible fixed assets26 | - | €18k | €15k | €13k | €10k | ▼ 20.0% |
| Financial fixed assets28 | €4k | €4k | €4k | €4k | €4k | = |
| Current assets29/58 | €21k | €18k | €19k | €19k | €26k | ▲ 34.3% |
| Amounts receivable within one year40/41 | €16k | €18k | €18k | €18k | €25k | ▲ 41.3% |
| Trade receivables40 | - | €748 | - | €2k | €10k | ▲ 307% |
| Other amounts receivable41 | - | €17k | €18k | €16k | €16k | ▼ 0.3% |
| Cash at bank and in hand54/58 | €6k | €384 | €793 | €1k | €75 | ▼ 92.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €50k | €44k | €42k | €40k | €43k | ▲ 8.0% |
| Equity10/15 | €23k | €10k | €-6k | €-14k | €-10k | ▲ 28.6% |
| Contributions10/11 | - | €30k | €30k | €30k | €30k | = |
| Outside capital11 | - | €30k | €30k | - | - | - |
| Other1109/19 | - | €30k | €30k | - | - | - |
| Profit (loss) carried forward14 | €-13k | €-26k | €-41k | €-49k | €-44k | ▲ 10.2% |
| Investment grants15 | - | €6k | €5k | €4k | €3k | ▼ 20.0% |
| Provisions and deferred taxes16 | €3k | €3k | €2k | €2k | €1k | ▼ 20.0% |
| Deferred taxes168 | - | €3k | €2k | €2k | €1k | ▼ 20.0% |
| Amounts payable17/49 | €24k | €32k | €46k | €52k | €52k | ▼ 1.2% |
| Amounts payable within one year42/48 | €24k | €32k | €46k | €52k | €52k | ▼ 1.2% |
| Trade debts44 | €5k | €5k | €772 | €2k | €2k | ▲ 13.6% |
| Suppliers440/4 | - | €5k | €772 | €2k | €2k | ▲ 13.6% |
| Other amounts payable47/48 | - | €27k | €45k | €50k | €49k | ▼ 1.7% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-5k | €-13k | €-15k | €-8k | €5k | ▲ 166% |
| + Depreciation and write-downs630 | €3k | €3k | €3k | €3k | €3k | = |
| Operating cash flow (approximation) | €-2k | €-9k | €-12k | €-4k | €8k | ▲ 299% |
| Investment in fixed assets (approximation) | - | €0 | €-867 | €-450 | €0 | ▲ 100% |
| Change in cash | - | €-5k | €409 | €212 | €-930 | ▼ 539% |
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
2025
19-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €5k
Net result €5k after 5 loss-making years.
07-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
19-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet €-15k
Net result drops to €-15k, the lowest in the series; recovery starts the following year.
26-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 26 days late
2021
23-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 54 days late
2020
07-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 68 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Brussel · 1 establishment unit since 2018
Ground area
762 m²
Building footprint
481 m²
Volume, LiDAR
7,488 m³
2 parcels, Brussels · tallest building 21.6 m, ±6 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
Antwerpsesteenweg 17, 1000 Brussel
since 20182.278.103.891
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21813A0484/00B002 | Brussels | 655 m² | 1 · 375 m² | 19.2 m · 5 fl. |
| 21812N1394/00_000 | Brussels | 106 m² | 1 · 106 m² | 21.6 m · 6 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.
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Of 1,372 companies in sector 61100 we hold annual accounts for 583. 262 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
Founded02-07-2018
Fiscal year end31-12
Activities, NACEBEL 2025
61100Wired, wireless and satellite telecommunications
56111Full-service restaurants
Scores and ratios are computed by Checked and are not a credit decision.