MFI
ActiveSummary
MFI has been active since 2001 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €184,981 and a net result of €2,149. Equity is shrinking by ~2.5% per year across the filed fiscal years. Its solvency ranks better than 17% of 5046 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability35▼-31
Solvency40▼-3
Growth58=
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €9,000 at 30 days acceptable
Liquidity tight (current ratio 1.01 against 1.08 in 2024; short-term debt: 36.7% and cash: 1% of total assets), and 85% of the assets are financed with debt.
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Signals
Six 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
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 →
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 17% of 5046 sector peers (2025).
NBB · sector comparisonPosition among 5046 sector peers
Solvency
better than 17%
← weakest
strongest →
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year €184,981
neutral · Filed after the deadline
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 23-01-2026, 84 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
84 d late
2024
6 d early
2023
360 d late
2022
30 d late
2021
30 d late
2020
30 d late
2019
64 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 66 days after 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 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close28-09-2026 today31-10-2026 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
€2,149▼ 88.5%
2024 · €18,681
Working capital
€4,866▼ 82.5%
2024 · €27,783
Trend over the years
Click a name to add, emphasise or remove a line.Band: 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.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€87,813▲ 708%-€89,186-€965▲ 98.9%€29,307€28,695▼ 2.1%
Net result€60,537above the sector's middle half▲ 444%-€99,786below the sector's middle half-€13,969below the sector's middle half▲ 86.0%€18,681within the sector's middle half€2,149below the sector's middle half▼ 88.5%
Equity€267,044above the sector's middle half▲ 29.3%€167,258above the sector's middle half▼ 37.4%€153,289within the sector's middle half▼ 8.4%€171,970above the sector's middle half▲ 12.2%€184,981below the sector's middle half▲ 7.6%
Total assets€947,549above the sector's middle half▲ 193%€986,973above the sector's middle half▲ 4.2%€934,966above the sector's middle half▼ 5.3%€936,861above the sector's middle half▲ 0.2%€1.2mbelow the sector's middle half▲ 31.4%
Debt€680,506▲ 480%€819,715▲ 20.5%€781,677▼ 4.6%€764,891▼ 2.1%€1.0m▲ 36.7%
Working capital€170,773above the sector's middle half▼ 28.5%€41,922within the sector's middle half▼ 75.5%€16,794within the sector's middle half▼ 59.9%€27,783within the sector's middle half▲ 65.4%€4,866below the sector's middle half▼ 82.5%
Solvency28.2%within the sector's middle half▼ 35.6pp16.9%within the sector's middle half▼ 11.2pp16.4%within the sector's middle half▼ 0.6pp18.4%within the sector's middle half▲ 2.0pp15.0%below the sector's middle half▼ 3.3pp
Current ratio1.92within the sector's middle half▼ 2.541.12within the sector's middle half▼ 0.801.05within the sector's middle half▼ 0.071.08within the sector's middle half▲ 0.031.01below the sector's middle half▼ 0.07
Return on assets (ROA)6.4%within the sector's middle half▲ 3.0pp-10.1%below the sector's middle half▼ 16.5pp-1.5%within the sector's middle half▲ 8.6pp2.0%within the sector's middle half▲ 3.5pp0.2%within the sector's middle half▼ 1.8pp
Staff (FTE)1=2.4▲ 140%2▼ 16.7%1▼ 50.0%1.3below the sector's middle half▲ 30.0%
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 falls in 2025; 2025 is 2% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.2m
Fixed assets
€774,645 ▲ 40.2%
Current assets
€456,177 ▲ 18.7%
Equity and liabilities €1.2m
Equity
€184,981 ▲ 7.6%
Debt
€1.0m ▲ 36.7%
Debt's share of the balance-sheet total rises from 81.6% to 85.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€57,975▲
2024 · €53,594
Cash flow
€31,429▼
2024 · €42,968
Quick ratio
0.55▲
2024 · 0.25
Debt to equity
5.65▲
2024 · 4.45
ROE
1.2%▼
2024 · 10.9%
Interest coverage
1.88▼
2024 · 5.37
Debt ≤ 1 year
€451,312▲
2024 · €356,573
Debt > 1 year
€594,530▲
2024 · €408,318
Income taxes
€5▼
2024 · €648
Staff costs
€50,750▲
2024 · €37,716
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,980 companies that looked in July 2024 the way this one looks now, 1.1% went bankrupt within 24 months and 96% are still going.
- Micro
- 20 years or older
- solvency 10 to 30%
- a profit under 5% of the balance sheet
1.1%
went bankrupt
2.2%
stopped otherwise
96%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.5% 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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 3,980 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 | - | €104,088 | €81,335 | €37,716 | €50,750 | ▲ 34.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €22,600 | €57,668 | €24,406 | €24,287 | €29,280 | ▲ 20.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €760 | €28,496 | -€12,243 | -€25,183 | ▼ 106% |
| Other operating charges640/8 | - | €5,659 | €5,731 | €4,120 | €27,983 | ▲ 579% |
| Gross operating margin9900 | €156,976 | €78,989 | €139,004 | €83,188 | €111,525 | ▲ 34.1% |
| Operating profit (loss)9901 | €87,813 | -€89,186 | -€965 | €29,307 | €28,695 | ▼ 2.1% |
| Financial income75/76B | - | €730 | €600 | €8 | €4,266 | ▲ 55,809% |
| Recurring financial income75 | €876 | €730 | €600 | €8 | €4,266 | ▲ 55,809% |
| Financial charges65/66B | - | €11,480 | €13,604 | €9,986 | €30,807 | ▲ 209% |
| Recurring financial charges65 | €8,529 | €11,480 | €13,604 | €9,986 | €30,807 | ▲ 209% |
| Profit (loss) for the period before taxes9903 | €80,160 | -€99,936 | -€13,969 | €19,329 | €2,154 | ▼ 88.9% |
| Income taxes67/77 | €19,623 | -€150 | - | €648 | €5 | ▼ 99.3% |
| Profit (loss) for the period9904 | €60,537 | -€99,786 | -€13,969 | €18,681 | €2,149 | ▼ 88.5% |
| Profit (loss) for the period to be appropriated9905 | €60,537 | -€99,786 | -€13,969 | €18,681 | €2,149 | ▼ 88.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €947,549 | €986,973 | €934,966 | €936,861 | €1.2m | ▲ 31.4% |
| Fixed assets21/28 | €590,511 | €595,946 | €572,825 | €552,505 | €774,645 | ▲ 40.2% |
| Intangible fixed assets21 | €387 | €35 | - | - | €240,411 | - |
| Tangible fixed assets22/27 | €590,124 | €595,911 | €572,825 | €552,505 | €534,234 | ▼ 3.3% |
| Land and buildings22 | - | €572,127 | €556,516 | €539,604 | €522,691 | ▼ 3.1% |
| Plant, machinery and equipment23 | - | €12,015 | €10,474 | €8,934 | €7,393 | ▼ 17.2% |
| Furniture and vehicles24 | - | €11,769 | €5,835 | €3,968 | €4,149 | ▲ 4.6% |
| Current assets29/58 | €357,039 | €391,027 | €362,141 | €384,356 | €456,177 | ▲ 18.7% |
| Stocks and contracts in progress3 | €181,805 | €240,244 | €211,465 | €296,971 | €208,650 | ▼ 29.7% |
| Stocks30/36 | - | €240,244 | €211,465 | €296,971 | €208,650 | ▼ 29.7% |
| Amounts receivable within one year40/41 | €174,105 | €110,180 | €146,157 | €87,379 | €233,964 | ▲ 168% |
| Trade receivables40 | - | €100,180 | €135,557 | €76,779 | €214,919 | ▲ 180% |
| Other amounts receivable41 | - | €10,000 | €10,600 | €10,600 | €19,045 | ▲ 79.7% |
| Cash at bank and in hand54/58 | €1,128 | €39,179 | €4,288 | €6 | €12,686 | ▲ 205,845% |
| Deferred charges and accrued income490/1 | - | €1,424 | €232 | - | €877 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €947,549 | €986,973 | €934,966 | €936,861 | €1.2m | ▲ 31.4% |
| Equity10/15 | €267,044 | €167,258 | €153,289 | €171,970 | €184,981 | ▲ 7.6% |
| Contributions10/11 | - | €112,530 | €112,530 | €112,530 | €102,300 | ▼ 9.1% |
| Reserves13 | €69,959 | €69,959 | €69,959 | €69,959 | €80,189 | ▲ 14.6% |
| Non-distributable reserves130/1 | - | - | - | - | €10,230 | - |
| Reserves not available under the articles1311 | - | - | - | - | €10,230 | - |
| Tax-exempt reserves132 | - | €15,418 | €15,418 | €15,418 | €15,418 | = |
| Distributable reserves133 | - | €54,542 | €54,542 | €54,542 | €54,542 | = |
| Profit (loss) carried forward14 | €84,555 | -€15,231 | -€29,201 | -€10,520 | -€8,370 | ▲ 20.4% |
| Investment grants15 | - | - | - | - | €10,862 | - |
| Amounts payable17/49 | €680,506 | €819,715 | €781,677 | €764,891 | €1.0m | ▲ 36.7% |
| Amounts payable after more than one year17 | €494,240 | €470,610 | €436,330 | €408,318 | €594,530 | ▲ 45.6% |
| Financial debts170/4 | - | €470,610 | €436,330 | €408,318 | €594,530 | ▲ 45.6% |
| Amounts payable within one year42/48 | €186,266 | €349,105 | €345,347 | €356,573 | €451,312 | ▲ 26.6% |
| Current portion of amounts payable after more than one year42 | - | €35,422 | €34,732 | €29,202 | €59,742 | ▲ 105% |
| Financial debts43 | - | €125,021 | €125,015 | €168,964 | €125,000 | ▼ 26.0% |
| Credit institutions430/8 | - | €125,021 | €125,015 | €168,964 | €125,000 | ▼ 26.0% |
| Trade debts44 | €89,225 | €141,230 | €106,748 | €94,564 | €72,592 | ▼ 23.2% |
| Suppliers440/4 | - | €141,230 | €106,748 | €94,564 | €72,592 | ▼ 23.2% |
| Advances received on contracts in progress46 | - | - | - | - | €50,000 | - |
| Taxes, remuneration and social security45 | - | €47,026 | €49,066 | €35,092 | €117,572 | ▲ 235% |
| Taxes450/3 | - | €33,053 | €39,395 | €24,577 | €107,921 | ▲ 339% |
| Remuneration and social security454/9 | - | €13,973 | €9,671 | €10,515 | €9,652 | ▼ 8.2% |
| Other amounts payable47/48 | - | €407 | €29,786 | €28,751 | €26,405 | ▼ 8.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €60,537 | -€99,786 | -€13,969 | €18,681 | €2,149 | ▼ 88.5% |
| + Depreciation and write-downs630 | €22,600 | €57,668 | €24,406 | €24,287 | €29,280 | ▲ 20.6% |
| Operating cash flow (approximation) | €83,137 | -€42,117 | €10,437 | €42,968 | €31,429 | ▼ 26.9% |
| Investment in fixed assets (approximation) | - | -€63,104 | -€1,285 | -€3,968 | -€251,420 | ▼ 6,237% |
| Change in cash | - | €38,051 | -€34,892 | -€4,282 | €12,680 | ▲ 396% |
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
23-01
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 84 days late
2024
25-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
25-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 360 days late
31-03
Financial
Back to profitnet €18,681
Net result €18,681 after 2 loss-making years.
2022
30-11
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
31-03
Financial
Weakest financial yearnet -€99,786
Net result drops to -€99,786, the lowest in the series; recovery starts the following year.
2021
30-11
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
31-03
Financial
Highest result since 2019net €60,537 ▲444%
Operating result €87,813, net result €60,537, both a record.
2020
30-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
31-03
Financial
Back to profitnet €11,128
Net result €11,128 after one loss-making year.
31-03
Financial
Equity above €200,000Eq €206,507 ▲5.7%
Equity rises from €195,379 to €206,507.
2019
28-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Show earlier events
2018
02-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
28-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
26-09
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 10 acts read
About the unread acts
We know of 10 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
10 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, Ouffet · 1 establishment unit since 2001
Ground area
1,966 m²
Parcel 61048I0117/00B003, Wallonia. Linked by address, not a title deed.
1 establishment unit
MFI
since 20012.098.550.854
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 61048I0117/00B003 | Wallonia | 1,965 m² | - | - |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 1,903 companies in sector 46460 we hold annual accounts for 1,126. 683 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
Founded23-05-2001
Fiscal year end31-03
Activities, NACEBEL 2025
46460Wholesale of pharmaceutical and medical goods
64210Activities of holding companies
70200Business and other management consultancy
82990Other business support services
Contact
E-invoicing
Reachable via Peppol
Peppol ID
0208:0474868250
Registered
08-12-2025
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.