ME-TECH
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 17-04-2026 PDF all 3 filings
Turnover
€3.3m
EBIT margin
5.2%
Net result
€67,713▼ 24.1%
2024 · €89,178
Working capital
€14,787▼ 82.2%
2024 · €83,200
In the rankings
#6 employer in Sint-Niklaas, Construction sector
Multi-year overview
2023 to 2025, 3 financial yearsTurnover
no figure
2025
20232025
Operating result
€117,601
▼ 32.2%
2025
20232025
Net result
€67,713
▼ 24.1%
2025
middle half of the sector
20232025
EBIT margin
no figure
2025
20232025
Equity
€338,098
▲ 25.0%
2025
middle half of the sector
20232025
Total assets
€1.3m
▲ 56.7%
2025
middle half of the sector
20232025
Debt
€932,085
▲ 72.6%
2025
20232025
Working capital
€14,787
▼ 82.2%
2025
middle half of the sector
20232025
Solvency
26.6%
▼ 6.7pp
2025
middle half of the sector
20232025
Current ratio
1.02
▼ 0.14
2025
lowest quarter of the sector
20232025
Return on assets (ROA)
5.3%
▼ 5.7pp
2025
middle half of the sector
20232025
Staff (FTE)
33.7
▲ 36.4%
2025
highest quarter of the sector
20232025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202320242025
Turnover€3.3m
Operating result€0.3m-€0.2m▼ 37.7%€0.1m▼ 32.2%
Net result€0.2mwithin the sector's middle half-€0.09mwithin the sector's middle half▼ 49.4%€0.07mwithin the sector's middle half▼ 24.1%
EBIT margin5.2%
Equity€0.2mwithin the sector's middle half-€0.3mwithin the sector's middle half▲ 49.2%€0.3mwithin the sector's middle half▲ 25.0%
Total assets€0.9mwithin the sector's middle half-€0.8mwithin the sector's middle half▼ 8.6%€1.3mwithin the sector's middle half▲ 56.7%
Debt€0.7m-€0.5m▼ 23.5%€0.9m▲ 72.6%
Working capital€0.2mwithin the sector's middle half-€0.08mwithin the sector's middle half▼ 54.7%€0.01mwithin the sector's middle half▼ 82.2%
Solvency20.4%below the sector's middle half-33.4%within the sector's middle half▲ 12.9pp26.6%within the sector's middle half▼ 6.7pp
Current ratio1.39within the sector's middle half-1.15within the sector's middle half▼ 0.231.02below the sector's middle half▼ 0.14
Return on assets (ROA)19.9%above the sector's middle half-11.0%within the sector's middle half▼ 8.9pp5.3%within the sector's middle half▼ 5.7pp
Staff (FTE)15.8above the sector's middle half-24.7above the sector's middle half▲ 56.3%33.7above the sector's middle half▲ 36.4%
above
within
below
The sector band is the middle half of the companies in Civil engineering (NACE 42). 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 32% lower than in 2024 and the lowest since 2023. It is the second fall in a row.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.3m
Fixed assets
€381,273 ▲ 104%
Current assets
€888,911 ▲ 42.6%
Equity and liabilities €1.3m
Equity
€338,098 ▲ 25.0%
Debt
€932,085 ▲ 72.6%
Debt's share of the balance-sheet total rises from 66.6% to 73.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€263,081▲
2024 · €255,850
Cash flow
€213,192▲
2024 · €171,690
Debt to equity
2.76▲
2024 · 2.00
ROE
20.0%▼
2024 · 33.0%
Interest coverage
29.58▲
2024 · 11.42
Debt ≤ 1 year
€874,123▲
2024 · €540,020
Debt > 1 year
€57,962
Income taxes
€40,994▼
2024 · €61,747
Staff costs
€1.9m▲
2024 · €1.0m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|
| Employees at the balance-sheet date | 16 | 26 | 31 |
| full-time | 16 | 26 | 31 |
| part-time | 0 | - | - |
| in full-time equivalents | 16 | 26 | 31 |
| Average over the year, in full-time equivalents | 15.8 | 24.7 | 33.8 |
| On a permanent contract | 16 | 26 | 30 |
| Joined | 77 | 53 | 71 |
| Left | 61 | 43 | 66 |
Source: social balance sheet in the 2023 to 2025 annual accounts
Investments
| Item | 2023 | 2024 | 2025 |
|---|---|---|---|
| Tangible fixed assets | €312,205 | €49,458 | €418,464 |
| Financial fixed assets | €7,200 | €135 | €33,000 |
| Depreciation and write-downs of the year | €92,875 | €82,513 | €145,480 |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2024 to 2025 · 2 entries · €1,480 awarded · €1,435 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €1,027 | €982 |
| 2024 | 1 | €453 | €453 |
Annual accounts
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Turnover70 | - | €3.3m | - | - |
| Non-recurring operating income76A | - | €0.003m | €0.01m | ▲ 272% |
| Goods, raw materials, services and sundry goods60/61 | - | €2.0m | - | - |
| Remuneration, social security and pensions62 | €0.8m | €1.0m | €1.9m | ▲ 84.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.09m | €0.08m | €0.1m | ▲ 76.3% |
| Other operating charges640/8 | €0.02m | €0.02m | €0.02m | ▲ 4.7% |
| Gross operating margin9900 | €1.2m | €1.3m | €2.1m | ▲ 66.7% |
| Operating profit (loss)9901 | €0.3m | €0.2m | €0.1m | ▼ 32.2% |
| Financial income75/76B | €0 | - | - | - |
| Recurring financial income75 | €0 | - | - | - |
| Financial charges65/66B | €0.04m | €0.02m | €0.009m | ▼ 60.3% |
| Recurring financial charges65 | €0.04m | €0.02m | €0.009m | ▼ 60.3% |
| Profit (loss) for the period before taxes9903 | €0.2m | €0.2m | €0.1m | ▼ 28.0% |
| Income taxes67/77 | €0.06m | €0.06m | €0.04m | ▼ 33.6% |
| Profit (loss) for the period9904 | €0.2m | €0.09m | €0.07m | ▼ 24.1% |
| Profit (loss) for the period to be appropriated9905 | €0.2m | €0.09m | €0.07m | ▼ 24.1% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €0.9m | €0.8m | €1.3m | ▲ 56.7% |
| Formation expenses20 | - | €0 | €0 | - |
| Fixed assets21/28 | €0.2m | €0.2m | €0.4m | ▲ 104% |
| Tangible fixed assets22/27 | €0.2m | €0.2m | €0.3m | ▲ 89.6% |
| Land and buildings22 | - | €0.003m | €0.007m | ▲ 129% |
| Plant, machinery and equipment23 | €0.06m | €0.06m | €0.2m | ▲ 191% |
| Furniture and vehicles24 | €0.1m | €0.08m | €0.1m | ▲ 60.0% |
| Leasing and similar rights25 | €0.05m | €0.03m | €0.03m | ▼ 24.0% |
| Financial fixed assets28 | €0.007m | €0.007m | €0.04m | ▲ 450% |
| Current assets29/58 | €0.7m | €0.6m | €0.9m | ▲ 42.6% |
| Amounts receivable within one year40/41 | €0.5m | €0.3m | €0.8m | ▲ 153% |
| Trade receivables40 | €0.3m | €0.2m | €0.5m | ▲ 161% |
| Other amounts receivable41 | €0.2m | €0.1m | €0.3m | ▲ 141% |
| Cash at bank and in hand54/58 | €0.1m | €0.3m | €0.05m | ▼ 81.7% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €0.9m | €0.8m | €1.3m | ▲ 56.7% |
| Equity10/15 | €0.2m | €0.3m | €0.3m | ▲ 25.0% |
| Contributions10/11 | €0.005m | €0.005m | €0.005m | = |
| Reserves13 | - | €0.1m | €0.1m | = |
| Distributable reserves133 | - | €0.1m | €0.1m | = |
| Profit (loss) carried forward14 | €0.2m | €0.2m | €0.2m | ▲ 40.9% |
| Amounts payable17/49 | €0.7m | €0.5m | €0.9m | ▲ 72.6% |
| Amounts payable after more than one year17 | - | - | €0.06m | - |
| Financial debts170/4 | - | - | €0.06m | - |
| Amounts payable within one year42/48 | €0.5m | €0.5m | €0.9m | ▲ 61.9% |
| Current portion of amounts payable after more than one year42 | - | - | €0.1m | - |
| Trade debts44 | €0.4m | €0.5m | €0.8m | ▲ 66.2% |
| Suppliers440/4 | €0.4m | €0.5m | €0.8m | ▲ 66.2% |
| Advances received on contracts in progress46 | €0.01m | €0.01m | - | - |
| Taxes, remuneration and social security45 | €0.08m | €0.06m | - | - |
| Taxes450/3 | €0.06m | €0.06m | - | - |
| Remuneration and social security454/9 | €0.02m | - | - | - |
| Other amounts payable47/48 | €0.01m | €0.01m | - | - |
| Accrued charges and deferred income492/3 | €0.2m | - | - | - |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €176,208 | €89,178 | €67,713 | ▼ 24.1% |
| + Depreciation and write-downs630 | €92,875 | €82,513 | €145,480 | ▲ 76.3% |
| Operating cash flow (approximation) | €269,083 | €171,690 | €213,192 | ▲ 24.2% |
| Investment in fixed assets (approximation) | - | -€43,168 | -€339,567 | ▼ 687% |
| Change in cash | - | €145,057 | -€239,494 | - |
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, 1,602 companies had the same profile as ME-TECH has now. Two years later, 96.6% were still going and 2.3% had gone bankrupt.
- Small
- 2 to 5 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
96.6%
was still going
0.9%
stopped otherwise
2.3%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of ME-TECH itself: 1.6% within 12 months.
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 1,602 companies, not a prediction for ME-TECH. 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.