MC Projects
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 06-01-2026 PDF all 9 filings
Turnover
≈ €240,000
Estimated: probably between €190,000 and €340,000
Total assets
€416,456▲ 50.4%
2024 · €276,970
Net result
€114,230▲ 30.3%
2024 · €87,665
Working capital
€346,132▲ 40.5%
2024 · €246,296
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€159,316
▲ 33.2%
2025
20192025
Net result
€114,230
▲ 30.3%
2025
highest quarter of the sector
20192025
Equity
€368,716
▲ 44.9%
2025
middle half of the sector
20192025
Total assets
€416,456
▲ 50.4%
2025
middle half of the sector
20192025
Debt
€47,740
▲ 112%
2025
20192025
Working capital
€346,132
▲ 40.5%
2025
highest quarter of the sector
20192025
Solvency
88.5%
▼ 3.3pp
2025
highest quarter of the sector
20192025
Current ratio
8.25
▼ 3.70
2025
highest quarter of the sector
20192025
Return on assets (ROA)
27.4%
▼ 4.2pp
2025
highest quarter of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result-€5,556-€24,970€61,737▲ 147%€64,876▲ 5.1%€76,583▲ 18.0%€119,565▲ 56.1%€159,316▲ 33.2%
Net result-€4,758-€16,849within the sector's middle half€44,824within the sector's middle half▲ 166%€46,305within the sector's middle half▲ 3.3%€55,547within the sector's middle half▲ 20.0%€87,665within the sector's middle half▲ 57.8%€114,230above the sector's middle half▲ 30.3%
Equity€23,137-€39,986below the sector's middle half▲ 72.8%€84,810within the sector's middle half▲ 112%€131,114within the sector's middle half▲ 54.6%€177,302within the sector's middle half▲ 35.2%€254,486within the sector's middle half▲ 43.5%€368,716within the sector's middle half▲ 44.9%
Total assets€24,417-€47,246below the sector's middle half▲ 93.5%€96,845below the sector's middle half▲ 105%€148,191below the sector's middle half▲ 53.0%€198,611below the sector's middle half▲ 34.0%€276,970below the sector's middle half▲ 39.5%€416,456within the sector's middle half▲ 50.4%
Debt€1,280-€7,260▲ 467%€12,036▲ 65.8%€17,077▲ 41.9%€21,309▲ 24.8%€22,484▲ 5.5%€47,740▲ 112%
Working capital€23,137-€39,986within the sector's middle half▲ 72.8%€81,218within the sector's middle half▲ 103%€126,843within the sector's middle half▲ 56.2%€172,343within the sector's middle half▲ 35.9%€246,296within the sector's middle half▲ 42.9%€346,132above the sector's middle half▲ 40.5%
Solvency94.8%-84.6%above the sector's middle half▼ 10.1pp87.6%above the sector's middle half▲ 2.9pp88.5%above the sector's middle half▲ 0.9pp89.3%above the sector's middle half▲ 0.8pp91.9%above the sector's middle half▲ 2.6pp88.5%above the sector's middle half▼ 3.3pp
Current ratio19.08-6.51above the sector's middle half▼ 12.577.75above the sector's middle half▲ 1.248.43above the sector's middle half▲ 0.689.09above the sector's middle half▲ 0.6611.95above the sector's middle half▲ 2.878.25above the sector's middle half▼ 3.70
Return on assets (ROA)-19.5%-35.7%above the sector's middle half▲ 55.2pp46.3%above the sector's middle half▲ 10.6pp31.2%above the sector's middle half▼ 15.0pp28.0%above the sector's middle half▼ 3.3pp31.7%above the sector's middle half▲ 3.7pp27.4%above the sector's middle half▼ 4.2pp
above
within
below
The sector band is the middle half of the companies in Office administrative, office support and other business support activities (NACE 82). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 33% higher than in 2024 and the highest since 2021. It is the fourth rise in a row.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €416,456
Fixed assets
€22,585 ▲ 176%
Current assets
€393,871 ▲ 46.5%
Equity and liabilities €416,456
Equity
€368,716 ▲ 44.9%
Debt
€47,740 ▲ 112%
Debt's share of the balance-sheet total rises from 8.1% to 11.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€162,171▲
2024 · €122,015
Cash flow
€117,085▲
2024 · €90,115
Debt to equity
0.13▲
2024 · 0.09
ROE
31.0%▼
2024 · 34.4%
Interest coverage
over 100
2024 · over 100
Debt ≤ 1 year
€47,740▲
2024 · €22,484
Income taxes
€51,737▲
2024 · €37,273
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €2,077 | €2,445 | €5,680 | €17,250 |
| Depreciation and write-downs of the year | €1,397 | €1,757 | €2,450 | €2,855 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | €112 | €1,397 | €1,757 | €2,450 | €2,855 | ▲ 16.5% |
| Other operating charges640/8 | - | - | - | €573 | €529 | €642 | €592 | ▼ 7.7% |
| Gross operating margin9900 | -€4,712 | €25,588 | €62,360 | €66,846 | €78,869 | €122,657 | €162,763 | ▲ 32.7% |
| Operating profit (loss)9901 | -€5,556 | €24,970 | €61,737 | €64,876 | €76,583 | €119,565 | €159,316 | ▲ 33.2% |
| Financial income75/76B | - | - | - | - | €1,381 | €5,606 | €6,818 | ▲ 21.6% |
| Recurring financial income75 | €957 | €1,440 | €425 | - | €1,381 | €5,606 | €6,818 | ▲ 21.6% |
| Financial charges65/66B | - | - | - | €75 | €282 | €233 | €168 | ▼ 28.0% |
| Recurring financial charges65 | €159 | €139 | €128 | €75 | €282 | €233 | €168 | ▼ 28.0% |
| Profit (loss) for the period before taxes9903 | -€4,758 | €26,271 | €62,033 | €64,801 | €77,682 | €124,938 | €165,967 | ▲ 32.8% |
| Income taxes67/77 | - | €9,422 | €17,210 | €18,496 | €22,135 | €37,273 | €51,737 | ▲ 38.8% |
| Profit (loss) for the period9904 | -€4,758 | €16,849 | €44,824 | €46,305 | €55,547 | €87,665 | €114,230 | ▲ 30.3% |
| Profit (loss) for the period to be appropriated9905 | -€4,758 | €16,849 | €44,824 | €46,305 | €55,547 | €87,665 | €114,230 | ▲ 30.3% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €24,417 | €47,246 | €96,845 | €148,191 | €198,611 | €276,970 | €416,456 | ▲ 50.4% |
| Fixed assets21/28 | - | - | €3,592 | €4,271 | €4,960 | €8,190 | €22,585 | ▲ 176% |
| Tangible fixed assets22/27 | - | - | €3,592 | €4,271 | €4,960 | €8,190 | €22,585 | ▲ 176% |
| Plant, machinery and equipment23 | - | - | - | €1,907 | €2,490 | €1,293 | €2,161 | ▲ 67.2% |
| Furniture and vehicles24 | - | - | - | €2,365 | €2,469 | €2,800 | €15,688 | ▲ 460% |
| Other tangible fixed assets26 | - | - | - | - | - | €4,097 | €4,736 | ▲ 15.6% |
| Current assets29/58 | €24,417 | €47,246 | €93,253 | €143,920 | €193,652 | €268,780 | €393,871 | ▲ 46.5% |
| Amounts receivable after more than one year29 | - | - | - | - | €170,000 | €170,000 | €170,000 | = |
| Other amounts receivable291 | - | - | - | - | €170,000 | €170,000 | €170,000 | = |
| Amounts receivable within one year40/41 | €15,092 | €28,419 | €18,018 | €16,645 | €21,446 | €36,564 | €192,223 | ▲ 426% |
| Trade receivables40 | - | - | - | €15,511 | €18,749 | €27,773 | €156,514 | ▲ 464% |
| Other amounts receivable41 | - | - | - | €1,134 | €2,697 | €8,791 | €35,709 | ▲ 306% |
| Cash at bank and in hand54/58 | €9,325 | €18,827 | €62,217 | €127,274 | €2,206 | €62,216 | €28,776 | ▼ 53.7% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | - | €2,873 | - |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €24,417 | €47,246 | €96,845 | €148,191 | €198,611 | €276,970 | €416,456 | ▲ 50.4% |
| Equity10/15 | €23,137 | €39,986 | €84,810 | €131,114 | €177,302 | €254,486 | €368,716 | ▲ 44.9% |
| Contributions10/11 | €6,200 | - | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €21,696 | €33,786 | €78,610 | €124,914 | €171,102 | €248,286 | €362,516 | ▲ 46.0% |
| Non-distributable reserves130/1 | - | - | - | €1,855 | €1,855 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,855 | €1,855 | - | - | - |
| Distributable reserves133 | - | - | - | €123,059 | €169,247 | €248,286 | €362,516 | ▲ 46.0% |
| Profit (loss) carried forward14 | -€4,758 | - | - | - | - | - | - | - |
| Amounts payable17/49 | €1,280 | €7,260 | €12,036 | €17,077 | €21,309 | €22,484 | €47,740 | ▲ 112% |
| Amounts payable within one year42/48 | €1,280 | €7,260 | €12,036 | €17,077 | €21,309 | €22,484 | €47,740 | ▲ 112% |
| Trade debts44 | €1,280 | €826 | €666 | €1,689 | €961 | €534 | €4,867 | ▲ 812% |
| Suppliers440/4 | - | - | - | €1,689 | €961 | €534 | €4,867 | ▲ 812% |
| Taxes, remuneration and social security45 | - | - | - | €15,387 | €20,348 | €21,950 | €42,873 | ▲ 95.3% |
| Taxes450/3 | - | - | - | €11,957 | €17,116 | €18,404 | €42,873 | ▲ 133% |
| Remuneration and social security454/9 | - | - | - | €3,430 | €3,232 | €3,546 | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€4,758 | €16,849 | €44,824 | €46,305 | €55,547 | €87,665 | €114,230 | ▲ 30.3% |
| + Depreciation and write-downs630 | - | - | €112 | €1,397 | €1,757 | €2,450 | €2,855 | ▲ 16.5% |
| Operating cash flow (approximation) | -€4,758 | €16,849 | €44,935 | €47,702 | €57,304 | €90,115 | €117,085 | ▲ 29.9% |
| Investment in fixed assets (approximation) | - | - | - | -€2,077 | -€2,445 | -€5,680 | -€17,250 | ▼ 204% |
| Change in cash | - | €9,502 | €43,390 | €65,058 | -€125,068 | €60,010 | -€33,440 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 26,972 companies had the same profile as MC Projects has now. Two years later, 94.9% were still going and 1.6% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
94.9%
was still going
3.4%
stopped otherwise
1.6%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of MC Projects itself is lower: 0.1% within 12 months. It rests on far more data about MC Projects than the profile alone.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 26,972 companies, not a prediction for MC Projects. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Filings with the National Bank (9)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | abbreviated format | 06-01-2026 | 2026-00007509 | |
| 30-06-2024 | abbreviated format | 26-12-2024 | 2024-00625383 | |
| 30-06-2023 | abbreviated format | 28-12-2023 | 2023-00538789 | |
| 30-06-2022 | abbreviated format | 13-12-2022 | 2022-20536366 | |
| 30-06-2021 | abbreviated format | 24-12-2021 | 2021-81800474 | |
| 30-06-2020 | abbreviated format | 04-01-2021 | 2021-00300017 | |
| 30-06-2019 | abbreviated format | 07-01-2020 | 2020-00400059 | |
| 30-06-2018 | abbreviated format | 05-02-2019 | 2019-04500541 | |
| 30-06-2017 | abbreviated format | 20-02-2018 | 2018-05200384 |