Summary
MHAL is a financial institution. The bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €53,821 and a net result of €17,309. Equity has been growing by about 4.3% per year since 2018. Its solvency ranks better than 15% of 6,692 sector peers (NACE 64, financial year 2025). The company has been active since 2016 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Overview
Official details
Source: KBO- Status
- Active since 30-11-2016 Normal situation
- Registered office
- 36 active companies are registered at this address Source: KBO register, as of 3 November 2026.
- Activity
- Activities of holding companies NACE 64210
- Establishment unit
- 2.259.995.377 3545 Halen, since 06-12-2016
- Financial year end
- 31 December
- Peppol
- Reachable since 13-01-2026
Board and ownership
Board
- YECO BVDirector · since 21-11-2016
Shareholders
- YECO50%· score 942025 annual accounts of YECO
Financial position
Financial institution: outside the modelBankruptcy probability: sector outside the model
Annual accounts 2025
- Profit
- €17,309
- ▲ 6.7%
- Equity
- €53,821
- ▲ 47.4%
- Total assets
- €441,048
- ▼ 6.7%
Signalsraises riskWeak solvency compared with the sectorneutralLatest accounts filed on timeShow the evidence
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score measures liquidity, leverage and margins against the norms for trading and manufacturing companies. A bank, insurer or financial holding has a very different balance sheet. Those ratios and the score mean nothing here. So there is no financial strength either.
Bankruptcy probability within 12 months
The company is a financial institution: a bank, insurer or financial holding. Its balance sheet works differently from that of a trading or manufacturing company. A bankruptcy probability from the general model would mislead here.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Two signals.
raises riskneutral
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 15% of 6692 sector peers (2025).
NBB · sector comparisonPosition among 6692 sector peers
Solvency
better than 15%
← weakest
strongest →
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 26-05-2026, 66 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
66 days early
2024
44 days early
2023
110 days early
2022
41 days early
2021
53 days early
2020
22 days early
2019
29 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 52 days before the deadline. In the sector (NACE 64), the median for financial year 2024 was 14 days before the deadline, and 28% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 8 June (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
03-11-2026 today31-12-2026 year end31-07-2027 deadline
Financials
Financials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 26-05-2026 PDF all 9 filings
Equity
€53,821▲ 47.4%
2024 · €36,512
Net result
€17,309▲ 6.7%
2024 · €16,228
Total assets
€441,048▼ 6.7%
2024 · €472,908
Solvency
12.2%▲ 4.5pp
2024 · 7.7%
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€27,949
▲ 3.2%
2025
20182025
Net result
€17,309
▲ 6.7%
2025
middle half of the sector
20182025
Equity
€53,821
▲ 47.4%
2025
lowest quarter of the sector
20182025
Total assets
€441,048
▼ 6.7%
2025
lowest quarter of the sector
20182025
Debt
€387,227
▼ 11.3%
2025
20182025
Working capital
-€103,503
▲ 6.3%
2025
middle half of the sector
20182025
Solvency
12.2%
▲ 4.5pp
2025
lowest quarter of the sector
20182025
Current ratio
0.30
=
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
3.9%
▲ 0.5pp
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€43,222-€12,437▼ 71.2%€13,305▲ 7.0%€33,340▲ 151%€19,445▼ 41.7%€26,198▲ 34.7%€27,093▲ 3.4%€27,949▲ 3.2%
Net result€27,675-€3,326▼ 88.0%€4,420within the sector's middle half▲ 32.9%€19,265within the sector's middle half▲ 336%€9,574within the sector's middle half▼ 50.3%€14,950within the sector's middle half▲ 56.1%€16,228within the sector's middle half▲ 8.6%€17,309within the sector's middle half▲ 6.7%
Equity€92,750-€96,075▲ 3.6%€100,495within the sector's middle half▲ 4.6%€119,760below the sector's middle half▲ 19.2%€129,334below the sector's middle half▲ 8.0%€144,284below the sector's middle half▲ 11.6%€36,512below the sector's middle half▼ 74.7%€53,821below the sector's middle half▲ 47.4%
Total assets€638,539-€607,530▼ 4.9%€569,867within the sector's middle half▼ 6.2%€557,871below the sector's middle half▼ 2.1%€530,425below the sector's middle half▼ 4.9%€503,378below the sector's middle half▼ 5.1%€472,908below the sector's middle half▼ 6.1%€441,048below the sector's middle half▼ 6.7%
Debt€545,790-€511,454▼ 6.3%€469,372▼ 8.2%€438,111▼ 6.7%€401,091▼ 8.4%€359,094▼ 10.5%€436,397▲ 21.5%€387,227▼ 11.3%
Working capital-€7,272--€10,090▼ 38.7%-€12,495within the sector's middle half▼ 23.8%-€725within the sector's middle half▲ 94.2%€674within the sector's middle half€6,771within the sector's middle half▲ 905%-€110,516within the sector's middle half-€103,503within the sector's middle half▲ 6.3%
Solvency14.5%-15.8%▲ 1.3pp17.6%below the sector's middle half▲ 1.8pp21.5%below the sector's middle half▲ 3.8pp24.4%within the sector's middle half▲ 2.9pp28.7%within the sector's middle half▲ 4.3pp7.7%below the sector's middle half▼ 20.9pp12.2%below the sector's middle half▲ 4.5pp
Current ratio0.83-0.77▼ 0.060.66within the sector's middle half▼ 0.100.98within the sector's middle half▲ 0.321.02within the sector's middle half▲ 0.031.17within the sector's middle half▲ 0.150.29below the sector's middle half▼ 0.870.30below the sector's middle half=
Return on assets (ROA)4.3%-0.5%▼ 3.8pp0.8%within the sector's middle half▲ 0.2pp3.5%within the sector's middle half▲ 2.7pp1.8%within the sector's middle half▼ 1.6pp3.0%within the sector's middle half▲ 1.2pp3.4%within the sector's middle half▲ 0.5pp3.9%within the sector's middle half▲ 0.5pp
above
within
below
The sector band is the middle half of the companies in Financial service activities, except insurance and pension funding (NACE 64). 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 3% higher than in 2024. It is the third rise in a row, after the fall in 2022.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €441,048
Fixed assets
€397,389 ▼ 6.9%
Current assets
€43,659 ▼ 5.0%
Equity and liabilities €441,048
Equity
€53,821 ▲ 47.4%
Debt
€387,227 ▼ 11.3%
Debt's share of the balance-sheet total falls from 92.3% to 87.8%. Equity is higher and debt is lower.
Key figures and ratios
ROE
32.2%▼
2024 · 44.4%
Debt ≤ 1 year
€147,162▼
2024 · €156,492
Debt > 1 year
€240,003▼
2024 · €279,843
Income taxes
€5,746▲
2024 · €5,386
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €432,117 | €395,079 | €357,359 | €318,963 | €279,843 |
| Mortgages, amount registered | €700,000 | €700,000 | €50,000 | €50,000 | €50,000 |
| Mortgage mandates | - | - | €650,000 | €650,000 | €650,000 |
| Carrying value of the mortgaged assets | €515,563 | €486,020 | €456,476 | €426,932 | €397,389 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €29,544 | €29,544 | €29,544 | €29,544 | €29,544 | €29,544 | €29,544 | €29,544 | = |
| Other operating charges640/8 | - | - | - | €464 | €680 | €531 | €534 | €549 | ▲ 2.8% |
| Gross operating margin9900 | €73,302 | €46,025 | €46,579 | €63,348 | €49,669 | €56,273 | €57,171 | €58,042 | ▲ 1.5% |
| Operating profit (loss)9901 | €43,222 | €12,437 | €13,305 | €33,340 | €19,445 | €26,198 | €27,093 | €27,949 | ▲ 3.2% |
| Financial income75/76B | - | - | - | €1,153 | €1,060 | €966 | €872 | €710 | ▼ 18.6% |
| Recurring financial income75 | €1,421 | €1,333 | €1,247 | €1,153 | €1,060 | €966 | €872 | €710 | ▼ 18.6% |
| Financial charges65/66B | - | - | - | €8,363 | €7,775 | €7,130 | €6,351 | €5,603 | ▼ 11.8% |
| Recurring financial charges65 | €10,480 | €9,651 | €9,040 | €8,363 | €7,775 | €7,130 | €6,351 | €5,603 | ▼ 11.8% |
| Profit (loss) for the period before taxes9903 | €34,163 | €4,120 | €5,512 | €26,130 | €12,730 | €20,034 | €21,614 | €23,055 | ▲ 6.7% |
| Income taxes67/77 | €6,489 | €794 | €1,093 | €6,865 | €3,156 | €5,084 | €5,386 | €5,746 | ▲ 6.7% |
| Profit (loss) for the period9904 | €27,675 | €3,326 | €4,420 | €19,265 | €9,574 | €14,950 | €16,228 | €17,309 | ▲ 6.7% |
| Profit (loss) for the period to be appropriated9905 | €27,675 | €3,326 | €4,420 | €19,265 | €9,574 | €14,950 | €16,228 | €17,309 | ▲ 6.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €638,539 | €607,530 | €569,867 | €557,871 | €530,425 | €503,378 | €472,908 | €441,048 | ▼ 6.7% |
| Fixed assets21/28 | €604,194 | €574,650 | €545,107 | €515,563 | €486,020 | €456,476 | €426,932 | €397,389 | ▼ 6.9% |
| Tangible fixed assets22/27 | €604,194 | €574,650 | €545,107 | €515,563 | €486,020 | €456,476 | €426,932 | €397,389 | ▼ 6.9% |
| Land and buildings22 | - | - | - | €515,563 | €486,020 | €456,476 | €426,932 | €397,389 | ▼ 6.9% |
| Current assets29/58 | €34,345 | €32,879 | €24,760 | €42,308 | €44,405 | €46,902 | €45,976 | €43,659 | ▼ 5.0% |
| Amounts receivable within one year40/41 | €13,939 | €7,192 | €7,886 | €23,389 | €10,228 | €21,833 | €13,326 | €13,462 | ▲ 1.0% |
| Trade receivables40 | - | - | - | €21,045 | €9,560 | €21,222 | €12,659 | €12,813 | ▲ 1.2% |
| Other amounts receivable41 | - | - | - | €2,343 | €668 | €611 | €667 | €649 | ▼ 2.7% |
| Cash at bank and in hand54/58 | €20,406 | €25,687 | €16,875 | €18,919 | €34,177 | €25,069 | €32,650 | €30,197 | ▼ 7.5% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €638,539 | €607,530 | €569,867 | €557,871 | €530,425 | €503,378 | €472,908 | €441,048 | ▼ 6.7% |
| Equity10/15 | €92,750 | €96,075 | €100,495 | €119,760 | €129,334 | €144,284 | €36,512 | €53,821 | ▲ 47.4% |
| Contributions10/11 | €20,000 | €20,000 | - | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | €72,750 | €76,075 | €80,495 | €99,760 | €109,334 | €124,284 | €16,512 | €33,821 | ▲ 105% |
| Non-distributable reserves130/1 | - | - | - | €2,000 | €0 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €2,000 | €0 | - | - | - | - |
| Distributable reserves133 | - | - | - | €97,760 | €109,334 | €124,284 | €16,512 | €33,821 | ▲ 105% |
| Profit (loss) carried forward14 | - | - | - | - | - | - | €0 | €0 | - |
| Amounts payable17/49 | €545,790 | €511,454 | €469,372 | €438,111 | €401,091 | €359,094 | €436,397 | €387,227 | ▼ 11.3% |
| Amounts payable after more than one year17 | €504,172 | €468,485 | €432,117 | €395,079 | €357,359 | €318,963 | €279,843 | €240,003 | ▼ 14.2% |
| Financial debts170/4 | - | - | - | €395,079 | €357,359 | €318,963 | €279,843 | €240,003 | ▼ 14.2% |
| Amounts payable within one year42/48 | €41,618 | €42,969 | €37,255 | €43,033 | €43,732 | €40,131 | €156,492 | €147,162 | ▼ 6.0% |
| Current portion of amounts payable after more than one year42 | - | - | - | €37,038 | €37,720 | €38,396 | €39,120 | €39,840 | ▲ 1.8% |
| Trade debts44 | €63 | - | - | €37 | €40 | €136 | €701 | €4,190 | ▲ 497% |
| Suppliers440/4 | - | - | - | €37 | €40 | €136 | €701 | €4,190 | ▲ 497% |
| Taxes, remuneration and social security45 | - | - | - | €5,958 | €5,865 | €1,584 | €1,970 | €1,132 | ▼ 42.5% |
| Taxes450/3 | - | - | - | €5,958 | €5,865 | €1,584 | €1,970 | €1,132 | ▼ 42.5% |
| Other amounts payable47/48 | - | - | - | - | €107 | €15 | €114,700 | €102,000 | ▼ 11.1% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | €62 | €62 | = |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €27,675 | €3,326 | €4,420 | €19,265 | €9,574 | €14,950 | €16,228 | €17,309 | ▲ 6.7% |
| + Depreciation and write-downs630 | €29,544 | €29,544 | €29,544 | €29,544 | €29,544 | €29,544 | €29,544 | €29,544 | = |
| Operating cash flow (approximation) | €57,219 | €32,869 | €33,963 | €48,808 | €39,118 | €44,493 | €45,772 | €46,853 | ▲ 2.4% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €5,281 | -€8,813 | €2,045 | €15,258 | -€9,108 | €7,581 | -€2,453 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Filings with the National Bank (9)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 26-05-2026 | 2026-00120214 | |
| 31-12-2024 | abbreviated format | 17-06-2025 | 2025-00143281 | |
| 31-12-2023 | abbreviated format | 12-04-2024 | 2024-00061978 | |
| 31-12-2022 | abbreviated format | 20-06-2023 | 2023-00139056 | |
| 31-12-2021 | abbreviated format | 08-06-2022 | 2022-20050329 | |
| 31-12-2020 | micro format | 09-07-2021 | 2021-33400051 | |
| 31-12-2019 | micro format | 02-07-2020 | 2020-25600267 | |
| 31-12-2018 | micro format | 28-06-2019 | 2019-24600240 | |
| 31-12-2017 | micro format | 10-07-2018 | 2018-31300050 |
Board & ownership
Directors
Directors
1 director, last change in 2022
YECO BV
Current
Director · since 21-11-2016 · Legal entity · listed in the 2025 annual accounts, filed on 26-05-2026
Owners and capital
Shareholders
1 ownerOwners 1
- Sourceaccounts YECO 2025Equity €496,080 Profit of €32,434 in 2025 (profit of €153,596 in 2024) Checked score 9450%
Capital transactions
Capital over time
- 30-06-2022 Converted to unavailable equity
Mandate history
2 people, 1 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| YECO BV |
|
| FRECOM |
|
Articles of association
- Kind of sharesThe articles set which classes of shares exist and what rights each class carries.
- “600, gelijk recht in winstverdeling”
Articles of association, deed of 30-06-2022 (in Dutch)
Network & group
Companies at the same address
35 other companies- BBQbase Establishment · since 2025 0681486861
- LA BUENA TIERRA Establishment · since 2023 0864851802
- Vereniging van mede-eigenaars van KMO-park Meldertsestraat 8 Registered office · since 2023 0804205719
- D-CONSTRUCT Registered office · since 2022 0779988183
- GEJAVAN Registered office · since 2021 0772793654
- Cappa, Ann (sole trader) Establishment · since 2020 0759844748
- Double-D Establishment · since 2020 0536574108
- DBG Projects Registered office · since 2020 0742874005
- BS PROJECTS Registered office · since 2019 0732683362
- YB AUTOSERVICE Registered office · since 2019 0722800844
Connections & network
1 current directorThe network starts from the directors of MHAL. Every other company they run is a node.
This company
Company
Director
Shareholding
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Click a node to look further, drag to arrange, zoom with the mouse wheel.
Timeline
Acts, filings and financial milestones
Deadline for the 2026 accounts:
2026
26-05
abbreviated format · 66 days before the deadline
2025
17-06
abbreviated format · 44 days before the deadline
2024
12-04
abbreviated format · 110 days before the deadline
2023
20-06
abbreviated format · 41 days before the deadline
2022
30-06
Gazette deed
Amendment of the articles · Legal-form change · Resignations & appointmentsCapital conversion · Reserve release · Registered office clause8 points ▸
Gazette deed
Amendment of the articles · Legal-form change · Resignations & appointments
Capital conversion · Reserve release · Registered office clause8 points ▸
- General meeting, 23-06-2022
- Amendment of the articles, mentioned 2 times in the deed
- Other provision, “tekstuele aanpassing doel naar voorwerp, voorwerp” (deed in Dutch)
- Capital conversion, “statutair onbeschikbare eigen vermogensrekening” (deed in Dutch)
- Reserve release, “vormen en meerderheden van statutenwijziging, opheffen” (deed in Dutch)
- Other provision, “wijziging overdrachtregeling aandelen en vertegenwoordiging vennootschap, wijzigen” (deed in Dutch)
- Other provision, “vaststelling tekst nieuwe statuten, verklaart en besluit dat tekst luidt als volgt” (deed in Dutch)
- Registered office clause, “3545 Halen (Zelem), Meldertsestraat 8 bus 4015” (deed in Dutch)
21-06
Gazette deed
Resignation: Frecom (director)Permanent representatives: Frédéric Geboers and Jan Wijnen6 points ▸
Gazette deed
Resignation: Frecom (director)
Permanent representatives: Frédéric Geboers and Jan Wijnen6 points ▸
- General meeting, 23-02-2022
- Director resignation, Frecom (director)
- Permanent representative, Frédéric Geboers
- Other provision, “benoeming bijkomende bestuurder, geen bijkomende bestuurder benoemen” (deed in Dutch)
- Board composition, Yeco (sole director)
- Permanent representative, Jan Wijnen
08-06
abbreviated format · 53 days before the deadline
2021
09-07
micro format · 22 days before the deadline
2020
31-12
Financial
Equity above €100,000equity €100,495 ▲4.6%
With a profit in every financial year since 2018, equity grows to €100,495.
02-07
micro format · 29 days before the deadline
2019
31-12
Financial
Weakest financial yearnet €3,326 ▼88%
The net result drops to €3,326, the lowest from 2018 to 2025. It recovers the following year.
28-06
micro format · 33 days before the deadline
2018
10-07
micro format · 21 days before the deadline
2016
16-12
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
MHAL in Dutch
Enterprise number
0666.976.948
Legal form
Private limited company
Status
Active, normale toestand
Founded
30-11-2016
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 30-06-2022 (in Dutch)Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Vlaams Gewest, overbrenging naar tweetalig gebied Brussel Hoofdstad of Nederlands taalgebied bij eenvoudig besluit bestuursorgaan zonder…”
deed of 30-06-2022 (in Dutch)Registered office and establishments
Registered office
Meldertsestraat 8, 3545 Halen, Belgium
Establishment unit
MHAL, Meldertsestraat 8, 3545 Halen since 06-12-2016 · unit number 2.259.995.377
Activities
NACEBEL 202564210
Activities of holding companies main activity
Codes under NACEBEL 2008
64200
Holdings main activity
Invoicing and payment
VAT number
BE 0666.976.948
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
First Friday of June at 16:00
deed of 30-06-2022 (in Dutch)Sites & property
Location
Buildings and parcels at the address
Ground area
1.6 ha
Building footprint
7,805 m²
Building volume
63,560 m³
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 71063B0071/00N015 | Flanders | 1.6 ha | 1 · 7,805 m² | 11.5 m · 3 |