MENTOR
ActiveSummary
MENTOR has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €571,412 and a net result of €49,454. Equity remains stable across the filed fiscal years (±1.6% per year). Its solvency ranks better than 69% of 5071 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability76▼-11
Solvency88▲+5
Growth32=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €40,000 at 30 days acceptable
Liquidity ample (current ratio 2.36 against 2.14 in 2024; short-term debt: 34.9% and cash: 8.8% of total assets), and 37.1% 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 · 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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
62.9%
Return on assets
5.4%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 09-06-2026, 52 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
52 d early
2024
34 d early
2023
44 d early
2022
28 d early
2021
160 d early
2020
66 d early
2019
65 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 64 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 23 June (4 of the last 4 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€49,454▼ 66.0%
2024 · €145,633
Working capital
€432,518▲ 0.5%
2024 · €430,491
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€501,993▲ 28.5%€568,046▲ 13.2%€281,276▼ 50.5%€190,551▼ 32.3%€63,596▼ 66.6%
Net result€373,149within the sector's middle half▲ 31.0%€419,906within the sector's middle half▲ 12.5%€223,731within the sector's middle half▼ 46.7%€145,633within the sector's middle half▼ 34.9%€49,454within the sector's middle half▼ 66.0%
Equity€708,727within the sector's middle half▲ 11.6%€563,286within the sector's middle half▼ 20.5%€583,453within the sector's middle half▲ 3.6%€575,522within the sector's middle half▼ 1.4%€571,412within the sector's middle half▼ 0.7%
Total assets€1.5mwithin the sector's middle half▲ 10.9%€1.2mwithin the sector's middle half▼ 18.9%€1.1mwithin the sector's middle half▼ 3.1%€985,072below the sector's middle half▼ 14.2%€907,797below the sector's middle half▼ 7.8%
Debt€747,000▲ 10.2%€616,893▼ 17.4%€559,725▼ 9.3%€405,865▼ 27.5%€333,745▼ 17.8%
Working capital€529,263within the sector's middle half▲ 24.1%€409,305within the sector's middle half▼ 22.7%€425,294within the sector's middle half▲ 3.9%€430,491within the sector's middle half▲ 1.2%€432,518within the sector's middle half▲ 0.5%
Solvency48.5%within the sector's middle half▲ 0.3pp47.6%within the sector's middle half▼ 1.0pp50.8%within the sector's middle half▲ 3.3pp58.4%within the sector's middle half▲ 7.6pp62.9%within the sector's middle half▲ 4.5pp
Current ratio1.74within the sector's middle half▲ 0.071.68within the sector's middle half▼ 0.061.82within the sector's middle half▲ 0.142.14within the sector's middle half▲ 0.322.36within the sector's middle half▲ 0.23
Return on assets (ROA)25.5%above the sector's middle half▲ 3.9pp35.5%above the sector's middle half▲ 9.9pp19.5%above the sector's middle half▼ 16.0pp14.8%above the sector's middle half▼ 4.7pp5.4%within the sector's middle half▼ 9.3pp
Staff (FTE)5.7within the sector's middle half▲ 7.5%5.7within the sector's middle half=5.2within the sector's middle half▼ 8.8%5.2within the sector's middle half=5.4within the sector's middle half▲ 3.8%
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result has fallen three years in a row; 2025 is 67% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €907,797
Fixed assets
€158,376 ▼ 9.8%
Current assets
€749,421 ▼ 7.4%
Equity and liabilities €907,797
Equity
€571,412 ▼ 0.7%
Provisions
€2,640 ▼ 28.4%
Debt
€333,745 ▼ 17.8%
Debt's share of the balance-sheet total falls from 41.2% to 36.8%. Equity and debt are lower.
Key figures and ratios
EBITDA
€100,266▼
2024 · €226,914
Cash flow
€86,125▼
2024 · €181,997
Quick ratio
1.58▼
2024 · 1.67
Debt to equity
0.58▼
2024 · 0.71
ROE
8.7%▼
2024 · 25.3%
Interest coverage
24.41▼
2024 · 50.53
Debt ≤ 1 year
€316,903▼
2024 · €378,946
Debt > 1 year
€16,842▼
2024 · €26,918
Income taxes
€14,903▼
2024 · €47,967
Staff costs
€232,084▲
2024 · €194,338
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,371 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.5%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.4% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 31,371 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €313,050 | €205,612 | €194,338 | €232,084 | ▲ 19.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €43,128 | €52,782 | €38,220 | €36,363 | €36,670 | ▲ 0.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €2,628 | - | - | -€2,628 | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | -€810 | €495 | -€1,100 | -€1,045 | ▲ 5.0% |
| Other operating charges640/8 | - | €18,890 | €13,580 | €12,172 | €19,508 | ▲ 60.3% |
| Gross operating margin9900 | €744,587 | €954,587 | €539,184 | €432,324 | €348,185 | ▼ 19.5% |
| Operating profit (loss)9901 | €501,993 | €568,046 | €281,276 | €190,551 | €63,596 | ▼ 66.6% |
| Financial income75/76B | - | €5,426 | €3,564 | €7,540 | €4,869 | ▼ 35.4% |
| Recurring financial income75 | €4,487 | €5,426 | €3,564 | €7,540 | €4,869 | ▼ 35.4% |
| Financial charges65/66B | - | €2,725 | €3,382 | €4,490 | €4,108 | ▼ 8.5% |
| Recurring financial charges65 | €3,920 | €2,725 | €3,382 | €4,490 | €4,108 | ▼ 8.5% |
| Profit (loss) for the period before taxes9903 | €502,561 | €570,747 | €281,458 | €193,600 | €64,357 | ▼ 66.8% |
| Income taxes67/77 | €129,412 | €150,842 | €57,727 | €47,967 | €14,903 | ▼ 68.9% |
| Profit (loss) for the period9904 | €373,149 | €419,906 | €223,731 | €145,633 | €49,454 | ▼ 66.0% |
| Transfer from tax-exempt reserves789 | - | €46,500 | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €373,149 | €466,406 | €223,731 | €145,633 | €49,454 | ▼ 66.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.5m | €1.2m | €1.1m | €985,072 | €907,797 | ▼ 7.8% |
| Fixed assets21/28 | €216,191 | €169,735 | €202,150 | €175,634 | €158,376 | ▼ 9.8% |
| Intangible fixed assets21 | - | - | - | €1,459 | €17,318 | ▲ 1,087% |
| Tangible fixed assets22/27 | €211,383 | €165,847 | €193,782 | €168,603 | €135,485 | ▼ 19.6% |
| Land and buildings22 | - | €145,025 | €137,905 | €113,960 | €90,015 | ▼ 21.0% |
| Plant, machinery and equipment23 | - | €6,472 | €51,459 | €53,919 | €44,273 | ▼ 17.9% |
| Furniture and vehicles24 | - | €14,350 | €4,418 | €724 | €1,196 | ▲ 65.3% |
| Financial fixed assets28 | €4,808 | €3,888 | €8,368 | €5,573 | €5,573 | = |
| Current assets29/58 | €1.2m | €1.0m | €945,813 | €809,438 | €749,421 | ▼ 7.4% |
| Stocks and contracts in progress3 | €149,990 | €168,858 | €185,897 | €175,885 | €249,668 | ▲ 41.9% |
| Stocks30/36 | - | €168,858 | €185,897 | €175,885 | €249,668 | ▲ 41.9% |
| Amounts receivable within one year40/41 | €690,351 | €486,240 | €558,591 | €388,759 | €417,698 | ▲ 7.4% |
| Trade receivables40 | - | €485,372 | €531,571 | €360,042 | €405,320 | ▲ 12.6% |
| Other amounts receivable41 | - | €867 | €27,020 | €28,717 | €12,378 | ▼ 56.9% |
| Cash at bank and in hand54/58 | €404,287 | €356,844 | €197,384 | €238,333 | €79,650 | ▼ 66.6% |
| Deferred charges and accrued income490/1 | - | €2,793 | €3,940 | €6,460 | €2,405 | ▼ 62.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.5m | €1.2m | €1.1m | €985,072 | €907,797 | ▼ 7.8% |
| Equity10/15 | €708,727 | €563,286 | €583,453 | €575,522 | €571,412 | ▼ 0.7% |
| Contributions10/11 | - | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €272,109 | €112,109 | €112,109 | €112,109 | €112,109 | = |
| Tax-exempt reserves132 | - | €18,750 | €18,750 | €18,750 | €18,750 | = |
| Distributable reserves133 | - | €93,359 | €93,359 | €93,359 | €93,359 | = |
| Profit (loss) carried forward14 | €389,475 | €409,381 | €433,112 | €428,746 | €428,200 | ▼ 0.1% |
| Investment grants15 | - | €23,204 | €19,640 | €16,075 | €12,511 | ▼ 22.2% |
| Provisions and deferred taxes16 | €5,100 | €4,290 | €4,785 | €3,685 | €2,640 | ▼ 28.4% |
| Provisions for liabilities and charges160/5 | - | €4,290 | €4,785 | €3,685 | €2,640 | ▼ 28.4% |
| Environmental obligations163 | - | €4,290 | €4,785 | €3,685 | €2,640 | ▼ 28.4% |
| Amounts payable17/49 | €747,000 | €616,893 | €559,725 | €405,865 | €333,745 | ▼ 17.8% |
| Amounts payable after more than one year17 | €24,322 | €11,055 | €39,198 | €26,918 | €16,842 | ▼ 37.4% |
| Financial debts170/4 | - | €11,055 | €39,198 | €26,918 | €16,842 | ▼ 37.4% |
| Amounts payable within one year42/48 | €715,373 | €605,429 | €520,519 | €378,946 | €316,903 | ▼ 16.4% |
| Current portion of amounts payable after more than one year42 | - | €49,367 | €17,062 | €12,280 | €10,077 | ▼ 17.9% |
| Trade debts44 | €322,811 | €215,206 | €245,062 | €183,114 | €218,603 | ▲ 19.4% |
| Suppliers440/4 | - | €215,206 | €245,062 | €183,114 | €218,603 | ▲ 19.4% |
| Advances received on contracts in progress46 | - | €54,523 | - | - | €413 | - |
| Taxes, remuneration and social security45 | - | €36,332 | €58,394 | €33,553 | €37,810 | ▲ 12.7% |
| Taxes450/3 | - | €18,378 | €42,130 | €13,216 | €13,044 | ▼ 1.3% |
| Remuneration and social security454/9 | - | €17,955 | €16,264 | €20,337 | €24,766 | ▲ 21.8% |
| Other amounts payable47/48 | - | €250,000 | €200,000 | €150,000 | €50,000 | ▼ 66.7% |
| Accrued charges and deferred income492/3 | - | €409 | €8 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €373,149 | €419,906 | €223,731 | €145,633 | €49,454 | ▼ 66.0% |
| + Depreciation and write-downs630 | €43,128 | €52,782 | €38,220 | €36,363 | €36,670 | ▲ 0.8% |
| Operating cash flow (approximation) | €416,277 | €472,688 | €261,952 | €181,997 | €86,125 | ▼ 52.7% |
| Investment in fixed assets (approximation) | - | -€6,327 | -€70,635 | -€9,847 | -€19,412 | ▼ 97.1% |
| Change in cash | - | -€47,444 | -€159,459 | €40,949 | -€158,684 | ▼ 488% |
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
2026
31-08
State Gazette act
Resignation: SRL COTIS (director)Appointment: Denis Bilginer (director)3 facts ▸
State Gazette act
Resignation: SRL COTIS (director)
Appointment: Denis Bilginer (director)3 facts ▸
- General meeting, 05-08-2026
- Director resignation, SRL COTIS (director)
- Director appointment, Denis Bilginer (director)
09-06
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Weakest financial yearnet €49,454 ▼66%
Net result drops to €49,454, the lowest in the series.
27-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
17-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
03-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Highest result since 2019net €419,906 ▲12.5%
Operating result €568,046, net result €419,906, both a record.
2021
24-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2020
26-11
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2019
27-11
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2018
31-10
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2017
13-11
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2016
26-10
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 2 acts read
About the unread acts
Of the 2 Belgian State Gazette acts we know for this company, 1 has been read. The other one has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 director, last change in 2026
Denis Bilginer
CurrentDirector · since 05-08-2026
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
1 of this company's 2 Belgian State Gazette acts has not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Liège · 1 establishment unit since 1999
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Bld de Douai 484020 Liège1 establishment unit
Bld de Douai 48, 4020 Liège
since 19992.090.394.441
Mandate history
2 people since 2026, 1 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Denis Bilginer |
|
| COTIS |
|
Structure & network
Part of the group
PANDO HOLDING
15 companies
Group, risk and exposure
Owners and holdings
1 ownerChain of control
Highest known parent: PANDO HOLDING. The sources do not say who stands above it.
Owners 1
-
100%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
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Shareholding
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Of 2,120 companies in sector 46500 we hold annual accounts for 1,408. 990 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
Founded12-02-1999
Fiscal year end31-12
Activities, NACEBEL 2025
46500Wholesale of information and communication equipment
47551Retail sale of household furniture
Contact
E-invoicing
Reachable via Peppol
Peppol ID
0208:0465192796
Registered
20-11-2020
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.