MHW
ActiveSummary
MHW has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €21k and a net result of €-18k. Equity is growing by ~22.8% per year across the filed fiscal years. Its solvency ranks better than 41% of 12707 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
52
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability6▼-88
Solvency72▲+1
Growth52▼-26
Track record94
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1k at 30 days acceptable
Liquidity ample (current ratio 1.8 against 2.09 in 2024; short-term debt: 46.5% and cash: 3.3% of total assets), but 53.1% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 69
Relative position
BE, all sectors
reference
Sector 69
lower
← fewer bankruptcies
more bankruptcies →
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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
46.9%
Return on assets
-40.2%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 27-08-2026, 27 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 · 4 filingsDeviation from the deadline
2025
27 d late
2024
21 d late
2023
26 d late
2022
31 d late
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€21k▼ 46.1%
2024 · €40k
2022: €14k
2023: €22k
2024: €40k
2022 → 2025
Total assets
€45k▼ 46.9%
2024 · €86k
2022: €56k
2023: €77k
2024: €86k
2022 → 2025
Net result
€-18k
2024 · €18k
2022: €12k
2023: €8k
2024: €18k
2022 → 2025
Working capital
€17k▼ 57.1%
2024 · €39k
2022: €8k
2023: €20k
2024: €39k
2022 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2022202320242025Trend
Equity€14k-€22k▲ 52.5%€40k▲ 80.3%€21k▼ 46.1%
Operating result€19k-€15k▼ 17.3%€29k▲ 85.7%€32k▲ 13.1%
Net result€12k-€8k▼ 36.5%€18k▲ 133%€-18k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 13% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €45k
Fixed assets
€7k ▼ 25.8%
Current assets
€38k ▼ 49.6%
Equity and liabilities €45k
Equity
€21k ▼ 46.1%
Debt
€24k ▼ 47.5%
Debt's share of the balance-sheet total falls from 53.7% to 53.1%. Equity and debt are lower.
Key figures and ratios
EBITDA
€35k▲
2024 · €31k
Cash flow
€-16k▼
2024 · €19k
Current ratio
1.80▼
2024 · 2.09
Debt to equity
1.13▼
2024 · 1.16
ROE
-85.6%▼
2024 · 44.5%
ROA
-40.2%▼
2024 · 20.6%
Interest coverage
0.70▼
2024 · 8.12
Debt ≤ 1 year
€21k▼
2024 · €36k
Debt > 1 year
€3k▼
2024 · €10k
Income taxes
€170▼
2024 · €7k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 44 lines
Balance sheet
Code20242025
Assets
Total assets20/58€86k€45k▼
Fixed assets21/28€10k€7k▼
Tangible fixed assets22/27€10k€7k▼
Furniture and vehicles24€6k€3k▼
Other tangible fixed assets26€4k€4k=
Financial fixed assets28€300€500▲
Current assets29/58€76k€38k▼
Amounts receivable within one year40/41€66k€35k▼
Trade receivables40€15k€24k▲
Other amounts receivable41€50k€12k▼
Cash at bank and in hand54/58€9k€2k▼
Deferred charges and accrued income490/1€1k€1k▲
Equity and liabilities
Total equity and liabilities10/49€86k€45k▼
Equity10/15€40k€21k▼
Contributions10/11€3k€3k=
Profit (loss) carried forward14€37k€19k▼
Amounts payable17/49€46k€24k▼
Amounts payable after more than one year17€10k€3k▼
Financial debts170/4€10k€3k▼
Amounts payable within one year42/48€36k€21k▼
Current portion of amounts payable after more than one year42€17k€7k▼
Financial debts43€2k€1k▼
Credit institutions430/8€2k€1k▼
Trade debts44€7k€5k▼
Suppliers440/4€7k€5k▼
Taxes, remuneration and social security45€11k€8k▼
Taxes450/3€11k€8k▼
Accrued charges and deferred income492/3€9€54▲
Income statement
Code20242025
Non-recurring operating income76A€277€0▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2k€3k▲
Other operating charges640/8€387€3k▲
Non-recurring operating charges66A€5k€552▼
Gross operating margin9900€36k€38k▲
Operating profit (loss)9901€29k€32k▲
Financial income75/76B€1€96▲
Recurring financial income75€1€96▲
Financial charges65/66B€4k€51k▲
Recurring financial charges65€4k€51k▲
Profit (loss) for the period before taxes9903€25k€-18k▼
Income taxes67/77€7k€170▼
Profit (loss) for the period9904€18k€-18k▼
Profit (loss) for the period to be appropriated9905€18k€-18k▼
Appropriation of the result
Profit (loss) to be appropriated9906€37k€19k▼
Profit (loss) brought forward from the previous period14P€19k€37k▲
The notes to these accounts (12 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
27-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 27 days late
2025
31-12
Financial
Weakest financial yearnet €-18k ▼204%
Net result drops to €-18k, the lowest in the series.
21-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 21 days late
2024
31-12
Financial
Highest result since 2022net €18k ▲133%
Net result €18k, the highest in the series.
26-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 26 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
5 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, La Hulpe · 1 establishment unit since 2022
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.
Rue St Nicolas 31310 La HulpeGround area
1,683 m²
Building footprint
2,433 m²
Volume, LiDAR
61,492 m³
Parcel 21807G0007/00R000, Brussels · tallest building 35.6 m, ±9 floors. Linked by address, not a title deed.
1 establishment unit
Louizalaan 65, 1050 Elsene
since 20222.330.047.886
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21807G0007/00R000 | Brussels | 1,683 m² | 1 · 2,433 m² | 35.6 m · 9 fl. |
Linked by address, not proof of ownership
Methodology
via establishment units: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Legal Entity Identifier
254900C0Y4NLPF8IME53
Similar companies · same sector, comparable size
MAITE BOUCLIER Notarisvennootschap
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Etterbeek · Eq €21,426
RG Company
BE 1002.444.421
Etterbeek · Eq €21,442
JURISQUARE
BE 0888.702.716
Elsene · Eq €21,444
Benoît Pernet Consulting
BE 0563.327.894
Dilbeek · Eq €21,514
KYBELE
BE 0743.371.079
Sint-Lambrechts-Woluwe · Eq €21,645
Of 2,762 companies in sector 69109 we hold annual accounts for 1,208. 799 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded18-03-2022
Fiscal year end31-12
Activities, NACEBEL 2025
69109Other legal services
70200Business and other management consultancy
73300Public relations and communication consultancy
82990Other business support services
Sources
Crossroads Bank for EnterprisesNational Bank · 4 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.