Checked.be
Active
BE 0508.706.996Private limited company
MFH
Amel,Engelbrücke 6 ·4770 Amel, Belgium· 13 yrs active
Sector: Activities of head offices
(70100)
Conclusion
MFH has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €4.35M and a net result of €394k. Equity is growing by ~9.3% per year across the filed fiscal years. Its solvency ranks better than 94% of 8388 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Based on the State Gazette, CBE and 5 annual accounts.
Key figures
| Equity | €4.35M |
| Net result | €394k |
| Better than sector | 94% |
| Active | 13 yrs |
Financial profile
83
/ 100
Exceptional profile, strong across almost every axis.
All 5 axes are computed from data Checked has read.
Health
91
Profitability
45
Solvency
100
Growth
78
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Established
Founded in 2012, 13 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
91
/ 100
Excellent
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€400k
estimate, not credit advice
Score history
56
2021
100
2022
86
2023
86
2024
91
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 7.44 (≥ 1.5)
+10
Quick ratio
Quick ratio 7.44 (≥ 1.0)
+5
Leverage
Debt/equity 0.03 (< 1.0)
+10
Profitability
ROE 9%
+3
Interest coverage
Interest coverage 2142.1× (≥ 3×)
+8
Profit trend
Net profit up YoY
+5
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 09-07-2026 with the NBB · fiscal year 2025 · abbreviated schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Equity: growth of ~9.3%/year over 5 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 70, Activities of head offices; management consultancy activities · compared within the same schema type (abbreviated schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 97.0% | 53.1% | |
| Net result | €394k | €38k | |
| Equity | €4.35M | €354k | |
| Gross operating margin | €596k | €87k | |
| Total assets | €4.48M | €923k |
€595k
+2.3%
21-25
€394k
+5.2%
21-25
€430k
+5.0%
21-25
€4.48M
-0.7%
21-25
€4.35M
-1.6%
21-25
€863k
-5.8%
21-25
€176k
+3.2%
21-25
€460k
-
21-25
€134k
+44.3%
21-25
€134k
+44.3%
21-25
€0
-100.0%
21-25
7.44
-31.5%
21-25
7.44
-31.5%
21-25
97.0%
-1.0%
21-25
0.03
+46.7%
21-25
9.1%
+6.9%
21-25
8.8%
+5.9%
21-25
2142.12
+242.6%
21-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Deposit | abbreviated schema | full schema | full schema | full schema | full schema |
| Revenue | - | - | - | - | - |
| EBITDA | €595k | €581k | €559k | €528k | €334k |
| Net profit | €394k | €375k | €376k | €752k | €202k |
| Cash flow | €430k | €410k | €403k | €781k | €231k |
| Staff costs | - | - | - | - | - |
| Income taxes | €176k | €171k | €152k | €140k | €92k |
| Dividends | €460k | - | - | - | - |
| Total assets | €4.48M | €4.52M | €4.27M | €4.03M | €3.79M |
| Equity | €4.35M | €4.42M | €4.05M | €3.67M | €2.92M |
| Debt | €134k | €93k | €220k | €362k | €866k |
| of which ≤ 1y | €134k | €93k | €220k | €266k | €594k |
| of which > 1y | - | - | €0 | €96k | €272k |
| Working capital | €863k | €916k | €507k | €260k | €-345k |
| Employees (FTE) | - | - | - | - | - |
Note: these years are not on the same basis. The filed schemas differ (abbreviated schema, full schema), so the columns are not directly comparable.
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 7.44 | 10.87 | 3.31 | 1.98 | 0.42 |
| Quick ratio | 7.44 | 10.87 | 3.31 | 1.98 | 0.42 |
| Working capital ratio | 19.2% | 20.3% | 11.9% | 6.5% | -9.1% |
| Solvency | 97.0% | 97.9% | 94.9% | 91.0% | 77.1% |
| Debt / equity | 0.03 | 0.02 | 0.05 | 0.10 | 0.30 |
| Long-term debt ratio | - | - | 0.00 | 0.03 | 0.09 |
| Interest coverage | 2142.12 | 625.25 | 138.08 | 69.89 | 31.07 |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | 8.8% | 8.3% | 8.8% | 18.6% | 5.3% |
| ROE | 9.1% | 8.5% | 9.3% | 20.5% | 6.9% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (24 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €4.48M | €4.52M | €4.27M | €4.03M | €3.79M |
| Fixed assets | 21/28 | €3.49M | €3.51M | €3.54M | €3.51M | €3.54M |
| Tangible fixed assets | 22/27 | €569k | €588k | €623k | €590k | €619k |
| Financial fixed assets | 28 | €2.92M | €2.92M | €2.92M | €2.92M | €2.92M |
| Current assets | 29/58 | €997k | €1.01M | €726k | €526k | €249k |
| Amounts receivable within one year | 40/41 | €569k | €512k | €626k | €179k | €79k |
| Investments | 50/53 | €400k | €450k | - | - | - |
| Cash & bank | 54/58 | €27k | €46k | €99k | €346k | €169k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €4.48M | €4.52M | €4.27M | €4.03M | €3.79M |
| Equity | 10/15 | €4.35M | €4.42M | €4.05M | €3.67M | €2.92M |
| Contributions / capital | 10/11 | €12k | €12k | €12k | €12k | €12k |
| Reserves | 13 | €4.34M | €4.41M | €4.04M | €3.66M | €2.91M |
| Amounts payable | 17/49 | €134k | €93k | €220k | €362k | €866k |
| Amounts payable after one year | 17 | - | - | €0 | €96k | €272k |
| Amounts payable within one year | 42/48 | €134k | €93k | €220k | €266k | €594k |
| Trade debts payable within one year | 44 | €82k | €106 | €63k | €45k | €353 |
| Income statement | ||||||
| Gross operating margin | 9900 | €596k | €583k | €561k | €530k | €335k |
| Operating result | 9901 | €559k | €546k | €532k | €499k | €305k |
| Financial income | 75 | €12k | €495 | €9 | €400k | - |
| Financial charges | 65 | €278 | €930 | €4k | €8k | €11k |
| Result before taxes | 9903 | €571k | €546k | €528k | €892k | €294k |
| Income taxes | 67/77 | €176k | €171k | €152k | €140k | €92k |
| Net result for the period | 9904 | €394k | €375k | €376k | €752k | €202k |
| Result to be appropriated | 9905 | €394k | €375k | €376k | €752k | €202k |
Legal Structure
| NACE primary | Activities of head offices(70100) |
| Legal form | Private limited company(610) |
| Incorporation | 24-12-2012 |
| Status | Active |
| Postal code | 4770 |
Establishment units
Amel,Engelbrücke 5, 4770 Amel
since 20122.215.392.106
Updates
Next filing, fiscal year 2026, expected by
2026
09-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
14-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Liquidity triplescurrent ratio 10.87
Current ratio from 3.31 to 10.87; short-term debt falls from €220k to €93k.
26-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 29 days late
2022
31-12
Financial
Highest result since 2021net €752k ▲271%
Net result €752k, the highest in the series.
31-12
Financial
Liquidity times 5current ratio 1.98
Current ratio from 0.42 to 1.98; short-term debt falls from €594k to €266k.
26-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 26 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 31 days late
2020
19-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 80 days late
2019
31-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 31 days late
2018
29-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 29 days late
2017
29-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 29 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
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.
Credit advice
Company registry (CBE)
Activities
Activities of head offices70100
Names & trade names
| Legal nameFR | MFH |
Similar companies
R-PACK TRADING
BE 0454.238.033 · Herve
DIX
BE 0653.843.148 · Antwerpen
BIALIM BELGIQUE
BE 0889.487.525 · Brussel
Renewi Shared Services Center
BE 0448.106.643 · Lommel
Luxven
BE 0827.494.528 · Schoten