MGR
ActiveSummary
MGR has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €200k and a net result of €107k. Equity is growing by ~46.2% per year across the filed fiscal years. Its solvency ranks better than 60% of 7780 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency87▲+9
Growth78=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €17k at 30 days acceptable
Liquidity ample (current ratio 2.62 against 2.09 in 2024; short-term debt: 37.8% and cash: 73.6% of total assets), and 37.8% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 82
Relative position
BE, all sectors
reference
Office administrative, office support and other business support activities (NACE 82)
about 37% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
62.2%
Return on assets
33.1%
Age of the figures
12 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 08-04-2026, 22 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
22 d early
2024
5 d late
2023
1 d early
2022
6 d early
2021
2 d late
2020
on the day
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today30-09-2026 close30-04-2027 deadline
History
Financials · fiscal year 2025, micro schema
Equity
€200k▲ 55.7%
2024 · €129k
Total assets
€322k▲ 31.7%
2024 · €244k
Net result
€107k▲ 23.4%
2024 · €86k
Working capital
€198k▲ 56.0%
2024 · €127k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€17k▼ 33.9%€59k▲ 246%€70k▲ 20.2%€115k▲ 63.8%€140k▲ 21.4%
Net result€10k▼ 42.2%€40k▲ 317%€49k▲ 23.9%€86k▲ 76.1%€107k▲ 23.4%
Equity€41k▲ 26.8%€80k▲ 94.2%€128k▲ 60.3%€129k▲ 0.3%€200k▲ 55.7%
Total assets€107k▲ 22.6%€121k▲ 13.1%€164k▲ 35.3%€244k▲ 48.9%€322k▲ 31.7%
Debt€66k▲ 20.1%€41k▼ 37.4%€36k▼ 13.0%€116k▲ 222%€122k▲ 5.2%
Working capital€31k▲ 36.2%€70k▲ 125%€119k▲ 70.0%€127k▲ 6.6%€198k▲ 56.0%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2025 is 21% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €322k
Fixed assets
€3k ▲ 31.0%
Current assets
€319k ▲ 31.8%
Equity and liabilities €322k
Equity
€200k ▲ 55.7%
Debt
€122k ▲ 5.2%
Debt's share of the balance-sheet total falls from 47.4% to 37.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€141k▲
2024 · €124k
Cash flow
€108k▲
2024 · €95k
Current ratio
2.62▲
2024 · 2.09
Quick ratio
2.17▲
2024 · 1.62
Debt to equity
0.61▼
2024 · 0.90
ROE
53.2%▼
2024 · 67.2%
ROA
33.1%▼
2024 · 35.3%
Interest coverage
46.93▼
2024 · 67.91
Debt ≤ 1 year
€122k▲
2024 · €116k
Income taxes
€31k▲
2024 · €27k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €3k | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €11k | €11k | €11k | €9k | €1k | ▼ 87.4% |
| Other operating charges640/8 | €2k | €2k | €3k | €2k | €1k | ▼ 48.3% |
| Gross operating margin9900 | €30k | €71k | €84k | €126k | €142k | ▲ 12.7% |
| Operating profit (loss)9901 | €17k | €59k | €70k | €115k | €140k | ▲ 21.4% |
| Financial income75/76B | €200 | €3 | - | €270 | €984 | ▲ 265% |
| Recurring financial income75 | €200 | €3 | - | €270 | €984 | ▲ 265% |
| Financial charges65/66B | €2k | €2k | €994 | €2k | €3k | ▲ 64.6% |
| Recurring financial charges65 | €2k | €2k | €994 | €2k | €3k | ▲ 64.6% |
| Profit (loss) for the period before taxes9903 | €15k | €57k | €69k | €114k | €138k | ▲ 21.3% |
| Income taxes67/77 | €6k | €17k | €20k | €27k | €31k | ▲ 14.6% |
| Profit (loss) for the period9904 | €10k | €40k | €49k | €86k | €107k | ▲ 23.4% |
| Profit (loss) for the period to be appropriated9905 | €10k | €40k | €49k | €86k | €107k | ▲ 23.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €107k | €121k | €164k | €244k | €322k | ▲ 31.7% |
| Fixed assets21/28 | €30k | €19k | €9k | €2k | €3k | ▲ 31.0% |
| Tangible fixed assets22/27 | €30k | €19k | €9k | €2k | €3k | ▲ 31.0% |
| Plant, machinery and equipment23 | €869 | €690 | €2k | €1k | €783 | ▼ 33.5% |
| Furniture and vehicles24 | €29k | €18k | €8k | €822 | €2k | ▲ 124% |
| Current assets29/58 | €78k | €102k | €155k | €242k | €319k | ▲ 31.8% |
| Stocks and contracts in progress3 | €32k | €52k | €52k | €55k | €55k | = |
| Stocks30/36 | €32k | €52k | €52k | €55k | €55k | = |
| Amounts receivable within one year40/41 | €3k | €16k | €23k | €23k | €23k | ▼ 1.3% |
| Trade receivables40 | €3k | €16k | €23k | €23k | €23k | ▲ 1.9% |
| Other amounts receivable41 | €66 | €61 | €152 | €936 | €196 | ▼ 79.0% |
| Current investments50/53 | - | - | €50k | €110k | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €39k | €31k | €27k | €50k | €237k | ▲ 377% |
| Deferred charges and accrued income490/1 | €4k | €4k | €4k | €4k | €4k | ▲ 2.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €107k | €121k | €164k | €244k | €322k | ▲ 31.7% |
| Equity10/15 | €41k | €80k | €128k | €129k | €200k | ▲ 55.7% |
| Contributions10/11 | €1k | €1k | €1k | €1k | €1k | = |
| Reserves13 | €40k | €79k | €127k | €127k | €127k | = |
| Non-distributable reserves130/1 | - | - | €100 | €100 | - | - |
| Other1319 | - | - | €100 | €100 | - | - |
| Distributable reserves133 | €40k | €79k | €127k | €127k | €127k | ▲ 0.1% |
| Profit (loss) carried forward14 | €84 | €84 | €137 | €520 | €72k | ▲ 13,771% |
| Amounts payable17/49 | €66k | €41k | €36k | €116k | €122k | ▲ 5.2% |
| Amounts payable after more than one year17 | €20k | €9k | - | - | - | - |
| Financial debts170/4 | €20k | €9k | - | - | - | - |
| Amounts payable within one year42/48 | €47k | €32k | €36k | €116k | €122k | ▲ 5.2% |
| Current portion of amounts payable after more than one year42 | €10k | €11k | €9k | - | - | - |
| Financial debts43 | - | - | €3k | €5k | €0 | ▼ 100% |
| Other loans439 | - | - | €3k | €5k | €0 | ▼ 100% |
| Trade debts44 | €4k | €5k | €6k | €12k | €6k | ▼ 52.3% |
| Suppliers440/4 | €4k | €5k | €6k | €12k | €6k | ▼ 52.3% |
| Taxes, remuneration and social security45 | €12k | €15k | €18k | €26k | €24k | ▼ 7.4% |
| Taxes450/3 | €12k | €15k | €18k | €26k | €24k | ▼ 7.4% |
| Other amounts payable47/48 | €19k | €2k | €709 | €73k | €92k | ▲ 26.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €10k | €40k | €49k | €86k | €107k | ▲ 23.4% |
| + Depreciation and write-downs630 | €11k | €11k | €11k | €9k | €1k | ▼ 87.4% |
| Operating cash flow (approximation) | €20k | €50k | €60k | €95k | €108k | ▲ 13.3% |
| Investment in fixed assets (approximation) | - | €0 | €-1k | €-1k | €-2k | ▼ 41.8% |
| Change in cash | - | €-8k | €-4k | €23k | €187k | ▲ 719% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
More with these figures Sector benchmark What changed Value indication
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
08-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-09
Financial
Highest result since 2020net €107k ▲23.4%
Operating result €140k, net result €107k, both a record.
30-09
Financial
Equity above €200kEq €200k ▲55.7%
6 profitable years in a row build equity to €200k.
05-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 5 days late
2024
29-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-09
Financial
Equity above €100kEq €128k ▲60.3%
4 profitable years in a row build equity to €128k.
24-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
02-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 2 days late
2021
30-09
Financial
Weakest financial yearnet €10k ▼42.2%
Net result drops to €10k, the lowest in the series; recovery starts the following year.
30-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Sint-Lievens-Houtem · 1 establishment unit since 2018
Ground area
826 m²
Building footprint
187 m²
Volume, LiDAR
1,070 m³
Parcel 41063C0326/00T004, Flanders · tallest building 9.3 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
MGR
since 20182.281.841.361
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41063C0326/00T004 | Flanders | 826 m² | 1 · 187 m² | 9.3 m · 2 fl. |
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 11,220 companies in sector 82100 we hold annual accounts for 3,511. 2,463 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
Founded15-10-2018
Fiscal year end30-09
Activities, NACEBEL 2025
82100Office administrative and support services
01430Raising of horses and other equines
63920Other information service activities
70200Business and other management consultancy
82990Other business support services
93127Equestrian clubs
Scores and ratios are computed by Checked and are not a credit decision.