MB-15
ActiveSummary
MB-15 has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €80k and a net result of €42k. Equity is shrinking by ~5.7% per year across the filed fiscal years. Its solvency ranks better than 22% of 31791 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability81▼-1
Solvency44▼-4
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €5k at 30 days acceptable
Liquidity short (current ratio 0.73 against 0.54 in 2024; short-term debt: 44.1% and cash: 9.1% of total assets), and 81.5% of the assets are financed with debt.
Credit check for your own amount and term
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 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% 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 · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 22% of 31791 sector peers (2025).
NBB · sector comparisonPosition among 31791 sector peers
Solvency
better than 22%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 31-10-2025, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
31 d early
2023
40 d early
2022
5 d early
2021
41 d early
2020
52 d early
2019
28 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 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close25-09-2026 today31-10-2026 deadline
Financials · fiscal year 2025, micro schema
Equity
€80k▼ 10.4%
2024 · €90k
2019: €77k
2020: €110k▲ +43.9% vs 2019
2021: €131k▲ +18.7% vs 2020highest in 7 years
2022: €103k▼ -21.2% vs 2021
2023: €70k▼ -32.1% vs 2022lowest in 7 years
2024: €90k▲ +28.1% vs 2023
2025: €80k▼ -10.4% vs 2024
2019 → 2025
Total assets
€434k▲ 11.5%
2024 · €389k
2019: €374klowest in 7 years
2020: €462k▲ +23.6% vs 2019
2021: €465k▲ +0.7% vs 2020highest in 7 years
2022: €399k▼ -14.3% vs 2021
2023: €405k▲ +1.6% vs 2022
2024: €389k▼ -4.0% vs 2023
2025: €434k▲ +11.5% vs 2024
2019 → 2025
Net result
€42k▲ 2.4%
2024 · €41k
2019: €33klowest in 7 years
2020: €65k▲ +96.8% vs 2019
2021: €86k▲ +31.8% vs 2020highest in 7 years
2022: €35k▼ -58.8% vs 2021
2023: €37k▲ +4.8% vs 2022
2024: €41k▲ +11.8% vs 2023
2025: €42k▲ +2.4% vs 2024
2019 → 2025
Working capital
€-52k▲ 31.9%
2024 · €-76k
2019: €27khighest in 7 years
2020: €22k▼ -16.9% vs 2019
2021: €3k▼ -85.7% vs 2020
2022: €-43k▼ -1428% vs 2021
2023: €-88k▼ -106% vs 2022lowest in 7 years
2024: €-76k▲ +13.4% vs 2023
2025: €-52k▲ +31.9% vs 2024
2019 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€131k-€103k▼ 21.2%€70k▼ 32.1%€90k▲ 28.1%€80k▼ 10.4%
2021: €131khighest in 5 years
2022: €103k▼ -21.2% vs 2021
2023: €70k▼ -32.1% vs 2022lowest in 5 years
2024: €90k▲ +28.1% vs 2023
2025: €80k▼ -10.4% vs 2024
Operating result€108k-€49k▼ 54.9%€53k▲ 7.6%€60k▲ 14.5%€64k▲ 7.0%
2021: €108khighest in 5 years
2022: €49k▼ -54.9% vs 2021lowest in 5 years
2023: €53k▲ +7.6% vs 2022
2024: €60k▲ +14.5% vs 2023
2025: €64k▲ +7.0% vs 2024
Net result€86k-€35k▼ 58.8%€37k▲ 4.8%€41k▲ 11.8%€42k▲ 2.4%
2021: €86khighest in 5 years
2022: €35k▼ -58.8% vs 2021lowest in 5 years
2023: €37k▲ +4.8% vs 2022
2024: €41k▲ +11.8% vs 2023
2025: €42k▲ +2.4% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 7% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €434k
Fixed assets
€294k ▼ 2.1%
Current assets
€140k ▲ 57.5%
Equity and liabilities €434k
Equity
€80k ▼ 10.4%
Debt
€353k ▲ 18.1%
Debt's share of the balance-sheet total rises from 77.0% to 81.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€100k▲
2024 · €91k
Cash flow
€78k▲
2024 · €72k
Current ratio
0.73▲
2024 · 0.54
Quick ratio
0.66▲
2024 · 0.45
Debt to equity
4.40▲
2024 · 3.34
ROE
52.8%▲
2024 · 46.1%
ROA
9.8%▼
2024 · 10.6%
Interest coverage
9.08▼
2024 · 14.41
Debt ≤ 1 year
€191k▲
2024 · €165k
Debt > 1 year
€156k▲
2024 · €131k
Income taxes
€13k▲
2024 · €13k
Staff costs
€10k▲
2024 · €7k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 58 lines
Balance sheet
Code20242025
Assets
Total assets20/58€389k€434k▲
Fixed assets21/28€300k€294k▼
Tangible fixed assets22/27€300k€294k▼
Land and buildings22€240k€235k▼
Plant, machinery and equipment23€9k€6k▼
Furniture and vehicles24€43k€49k▲
Other tangible fixed assets26€8k€4k▼
Current assets29/58€89k€140k▲
Stocks and contracts in progress3€15k€14k▼
Stocks30/36€15k€14k▼
Amounts receivable within one year40/41€41k€84k▲
Trade receivables40€41k€39k▼
Other amounts receivable41€238€45k▲
Cash at bank and in hand54/58€32k€39k▲
Deferred charges and accrued income490/1€1k€2k▲
Equity and liabilities
Total equity and liabilities10/49€389k€434k▲
Equity10/15€90k€80k▼
Contributions10/11€19k€19k=
Reserves13€71k€62k▼
Non-distributable reserves130/1€0-
Reserves not available under the articles1311€0-
Distributable reserves133€71k€62k▼
Profit (loss) carried forward14€0€0=
Amounts payable17/49€299k€353k▲
Amounts payable after more than one year17€131k€156k▲
Financial debts170/4€131k€156k▲
Amounts payable within one year42/48€165k€191k▲
Current portion of amounts payable after more than one year42€34k€51k▲
Financial debts43€499€284▼
Credit institutions430/8€499€0▼
Other loans439-€284
Trade debts44€10k€0▼
Suppliers440/4€10k€0▼
Taxes, remuneration and social security45€15k€12k▼
Taxes450/3€14k€11k▼
Remuneration and social security454/9€2k€932▼
Other amounts payable47/48€104k€129k▲
Accrued charges and deferred income492/3€4k€6k▲
Income statement
Code20242025
Remuneration, social security and pensions62€7k€10k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€30k€35k▲
Other operating charges640/8€3k€3k▼
Non-recurring operating charges66A€410€0▼
Gross operating margin9900€101k€113k▲
Operating profit (loss)9901€60k€64k▲
Financial income75/76B€461€2k▲
Recurring financial income75€461€2k▲
Financial charges65/66B€6k€11k▲
Recurring financial charges65€6k€11k▲
Profit (loss) for the period before taxes9903€54k€55k▲
Income taxes67/77€13k€13k▲
Profit (loss) for the period9904€41k€42k▲
Profit (loss) for the period to be appropriated9905€41k€42k▲
Appropriation of the result
Profit (loss) to be appropriated9906€41k€42k▲
Transfer from equity791/2€0€52k▲
Transfer to equity691/2€20k€42k▲
To other reserves6921€20k€42k▲
Profit to be distributed694/7€22k€52k▲
Return on contributions (dividend)694€22k€52k▲
The notes to these accounts (12 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €4k | €6k | €7k | €10k | ▲ 37.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €34k | €36k | €19k | €30k | €35k | ▲ 16.4% |
| Other operating charges640/8 | - | €3k | €3k | €3k | €3k | ▼ 8.3% |
| Non-recurring operating charges66A | - | - | €619 | €410 | €0 | ▼ 100% |
| Gross operating margin9900 | €149k | €92k | €81k | €101k | €113k | ▲ 10.9% |
| Operating profit (loss)9901 | €108k | €49k | €53k | €60k | €64k | ▲ 7.0% |
| Financial income75/76B | - | €935 | €233 | €461 | €2k | ▲ 346% |
| Recurring financial income75 | €133 | €935 | €233 | €461 | €2k | ▲ 346% |
| Financial charges65/66B | - | €5k | €4k | €6k | €11k | ▲ 74.8% |
| Recurring financial charges65 | €4k | €5k | €4k | €6k | €11k | ▲ 74.8% |
| Profit (loss) for the period before taxes9903 | €105k | €45k | €49k | €54k | €55k | ▲ 2.0% |
| Income taxes67/77 | €19k | €10k | €12k | €13k | €13k | ▲ 0.7% |
| Profit (loss) for the period9904 | €86k | €35k | €37k | €41k | €42k | ▲ 2.4% |
| Profit (loss) for the period to be appropriated9905 | €86k | €35k | €37k | €41k | €42k | ▲ 2.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €465k | €399k | €405k | €389k | €434k | ▲ 11.5% |
| Fixed assets21/28 | €336k | €317k | €324k | €300k | €294k | ▼ 2.1% |
| Tangible fixed assets22/27 | €336k | €317k | €324k | €300k | €294k | ▼ 2.1% |
| Land and buildings22 | - | €254k | €246k | €240k | €235k | ▼ 2.1% |
| Plant, machinery and equipment23 | - | €10k | €11k | €9k | €6k | ▼ 29.0% |
| Furniture and vehicles24 | - | €37k | €55k | €43k | €49k | ▲ 13.3% |
| Other tangible fixed assets26 | - | €17k | €12k | €8k | €4k | ▼ 52.7% |
| Current assets29/58 | €130k | €82k | €82k | €89k | €140k | ▲ 57.5% |
| Stocks and contracts in progress3 | €12k | €14k | €13k | €15k | €14k | ▼ 2.4% |
| Stocks30/36 | - | €14k | €13k | €15k | €14k | ▼ 2.4% |
| Amounts receivable within one year40/41 | €42k | €15k | €25k | €41k | €84k | ▲ 105% |
| Trade receivables40 | - | €11k | €25k | €41k | €39k | ▼ 4.4% |
| Other amounts receivable41 | - | €4k | €175 | €238 | €45k | ▲ 18,886% |
| Cash at bank and in hand54/58 | €74k | €52k | €42k | €32k | €39k | ▲ 24.0% |
| Deferred charges and accrued income490/1 | - | €1k | €1k | €1k | €2k | ▲ 45.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €465k | €399k | €405k | €389k | €434k | ▲ 11.5% |
| Equity10/15 | €131k | €103k | €70k | €90k | €80k | ▼ 10.4% |
| Contributions10/11 | - | €19k | €19k | €19k | €19k | = |
| Reserves13 | €112k | €84k | €51k | €71k | €62k | ▼ 13.2% |
| Non-distributable reserves130/1 | - | €2k | €2k | €0 | - | - |
| Reserves not available under the articles1311 | - | €2k | €2k | €0 | - | - |
| Distributable reserves133 | - | €83k | €49k | €71k | €62k | ▼ 13.2% |
| Profit (loss) carried forward14 | - | €0 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €335k | €296k | €335k | €299k | €353k | ▲ 18.1% |
| Amounts payable after more than one year17 | €208k | €171k | €165k | €131k | €156k | ▲ 19.2% |
| Financial debts170/4 | - | €171k | €165k | €131k | €156k | ▲ 19.2% |
| Amounts payable within one year42/48 | €126k | €125k | €169k | €165k | €191k | ▲ 16.3% |
| Current portion of amounts payable after more than one year42 | - | €37k | €34k | €34k | €51k | ▲ 48.6% |
| Financial debts43 | - | €305 | €4k | €499 | €284 | ▼ 43.0% |
| Credit institutions430/8 | - | €305 | €4k | €499 | €0 | ▼ 100% |
| Other loans439 | - | - | - | - | €284 | - |
| Trade debts44 | €9k | €21k | €7k | €10k | €0 | ▼ 100% |
| Suppliers440/4 | - | €21k | €7k | €10k | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | - | €184 | €10k | €15k | €12k | ▼ 23.8% |
| Taxes450/3 | - | €184 | €9k | €14k | €11k | ▼ 21.7% |
| Remuneration and social security454/9 | - | €0 | €670 | €2k | €932 | ▼ 41.6% |
| Other amounts payable47/48 | - | €66k | €114k | €104k | €129k | ▲ 23.4% |
| Accrued charges and deferred income492/3 | - | - | €1k | €4k | €6k | ▲ 54.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €86k | €35k | €37k | €41k | €42k | ▲ 2.4% |
| + Depreciation and write-downs630 | €34k | €36k | €19k | €30k | €35k | ▲ 16.4% |
| Operating cash flow (approximation) | €120k | €71k | €55k | €72k | €78k | ▲ 8.3% |
| Investment in fixed assets (approximation) | - | €-17k | €-26k | €-7k | €-29k | ▼ 318% |
| Change in cash | - | €-23k | €-10k | €-10k | €8k | ▲ 173% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2025
31-10
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2024
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2023
21-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2022
26-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2021
20-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
31-03
Financial
Highest result since 2019net €86k ▲31.8%
Operating result €108k, net result €86k, both a record.
2020
09-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
31-03
Financial
Equity above €100kEq €110k ▲43.9%
2 profitable years in a row build equity to €110k.
2019
03-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
24-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
31-10
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
16-09
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
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, Ronse · 2 establishment units since 2015
Ground area
739 m²
Building footprint
371 m²
Volume, LiDAR
3,664 m³
2 parcels, Flanders · tallest building 15.7 m, ±4 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
2 establishment units
MB-15
since 20152.239.053.572
Marie Fleurie
since 20162.255.189.424
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 45422D1125/00B002 | Flanders | 611 m² | 1 · 190 m² | 13.9 m · 3 fl. |
| 45423E0485/00P000 | Flanders | 127 m² | 1 · 181 m² | 15.7 m · 4 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 82,553 companies in sector 70200 we hold annual accounts for 52,585. 40,129 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
Founded06-02-2015
Fiscal year end31-03
Activities, NACEBEL 2025
47761Retail sale of flowers, plants, seeds and fertilisers
70200Business and other management consultancy
47559Retail sale of other household articles
Scores and ratios are computed by Checked and are not a credit decision.