MINDELO
ActiveSummary
MINDELO has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €325k and a net result of €110k. Equity is growing by ~10.8% per year across the filed fiscal years. Its solvency ranks better than 73% of 31791 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency100▲+23
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €30k at 30 days acceptable
Liquidity ample (current ratio 3.51 against 1.47 in 2024; short-term debt: 21.5% and cash: 51.7% of total assets), and 22.5% of the assets are financed with debt.
Credit check 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 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% 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
77.5%
Return on assets
26.2%
Age of the figures
9 mo
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
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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 · 7 filingsDeviation from the deadline
2025
31 d late
2024
31 d late
2023
31 d late
2022
31 d late
2021
17 d late
2020
27 d late
2019
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€325k▲ 51.1%
2024 · €215k
2019: €104klowest in 7 years
2020: €179k▲ +73.0% vs 2019
2021: €265k▲ +48.1% vs 2020
2022: €275k▲ +3.8% vs 2021
2023: €265k▼ -3.8% vs 2022
2024: €215k▼ -18.8% vs 2023
2025: €325k▲ +51.1% vs 2024highest in 7 years
2019 → 2025
Total assets
€419k▲ 0.9%
2024 · €415k
2019: €127klowest in 7 years
2020: €198k▲ +56.5% vs 2019
2021: €276k▲ +39.2% vs 2020
2022: €403k▲ +45.9% vs 2021
2023: €465k▲ +15.6% vs 2022highest in 7 years
2024: €415k▼ -10.8% vs 2023
2025: €419k▲ +0.9% vs 2024
2019 → 2025
Net result
€110k▼ 12.5%
2024 · €125k
2019: €85k
2020: €76k▼ -11.0% vs 2019lowest in 7 years
2021: €86k▲ +13.9% vs 2020
2022: €115k▲ +33.1% vs 2021
2023: €150k▲ +30.6% vs 2022highest in 7 years
2024: €125k▼ -16.2% vs 2023
2025: €110k▼ -12.5% vs 2024
2019 → 2025
Working capital
€226k▲ 142%
2024 · €93k
2019: €88klowest in 7 years
2020: €171k▲ +94.0% vs 2019
2021: €157k▼ -8.1% vs 2020
2022: €175k▲ +11.4% vs 2021
2023: €168k▼ -4.0% vs 2022
2024: €93k▼ -44.7% vs 2023
2025: €226k▲ +142% vs 2024highest in 7 years
2019 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€265k-€275k▲ 3.8%€265k▼ 3.8%€215k▼ 18.8%€325k▲ 51.1%
2021: €265k
2022: €275k▲ +3.8% vs 2021
2023: €265k▼ -3.8% vs 2022
2024: €215k▼ -18.8% vs 2023lowest in 5 years
2025: €325k▲ +51.1% vs 2024highest in 5 years
Operating result€109k-€151k▲ 37.9%€194k▲ 28.7%€155k▼ 19.8%€146k▼ 5.7%
2021: €109klowest in 5 years
2022: €151k▲ +37.9% vs 2021
2023: €194k▲ +28.7% vs 2022highest in 5 years
2024: €155k▼ -19.8% vs 2023
2025: €146k▼ -5.7% vs 2024
Net result€86k-€115k▲ 33.1%€150k▲ 30.6%€125k▼ 16.2%€110k▼ 12.5%
2021: €86klowest in 5 years
2022: €115k▲ +33.1% vs 2021
2023: €150k▲ +30.6% vs 2022highest in 5 years
2024: €125k▼ -16.2% vs 2023
2025: €110k▼ -12.5% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 6% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €419k
Fixed assets
€103k ▼ 16.5%
Current assets
€316k ▲ 8.2%
Equity and liabilities €419k
Equity
€325k ▲ 51.1%
Debt
€94k ▼ 53.0%
Debt's share of the balance-sheet total falls from 48.2% to 22.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€168k▼
2024 · €176k
Cash flow
€132k▼
2024 · €146k
Current ratio
3.51▲
2024 · 1.47
Debt to equity
0.29▼
2024 · 0.93
ROE
33.8%▼
2024 · 58.3%
ROA
26.2%▼
2024 · 30.2%
Interest coverage
57.50▼
2024 · 493.49
Debt ≤ 1 year
€90k▼
2024 · €199k
Income taxes
€39k▲
2024 · €37k
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 · 45 lines
Balance sheet
Code20242025
Assets
Total assets20/58€415k€419k▲
Fixed assets21/28€123k€103k▼
Tangible fixed assets22/27€123k€103k▼
Furniture and vehicles24€87k€70k▼
Other tangible fixed assets26€36k€33k▼
Current assets29/58€292k€316k▲
Amounts receivable within one year40/41€74k€80k▲
Trade receivables40€13k€36k▲
Other amounts receivable41€60k€44k▼
Current investments50/53€17k€17k=
Cash at bank and in hand54/58€200k€217k▲
Deferred charges and accrued income490/1€862€2k▲
Equity and liabilities
Total equity and liabilities10/49€415k€419k▲
Equity10/15€215k€325k▲
Contributions10/11€19k€19k=
Reserves13€12k€12k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€10k€10k=
Profit (loss) carried forward14€185k€294k▲
Amounts payable17/49€200k€94k▼
Amounts payable within one year42/48€199k€90k▼
Trade debts44€7k€11k▲
Suppliers440/4€7k€11k▲
Taxes, remuneration and social security45€16k€9k▼
Taxes450/3€16k€9k▼
Other amounts payable47/48€175k€70k▼
Accrued charges and deferred income492/3€2k€4k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€21k€22k▲
Other operating charges640/8€680€638▼
Gross operating margin9900€177k€169k▼
Operating profit (loss)9901€155k€146k▼
Financial income75/76B€7k€6k▼
Recurring financial income75€7k€6k▼
Financial charges65/66B€357€3k▲
Recurring financial charges65€357€3k▲
Profit (loss) for the period before taxes9903€162k€149k▼
Income taxes67/77€37k€39k▲
Profit (loss) for the period9904€125k€110k▼
Profit (loss) for the period to be appropriated9905€125k€110k▼
Appropriation of the result
Profit (loss) to be appropriated9906€360k€294k▼
Profit (loss) brought forward from the previous period14P€234k€185k▼
Profit to be distributed694/7€175k€0▼
Return on contributions (dividend)694€175k€0▼
Directors or managers695€200€0▼
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10k | €15k | €16k | €21k | €22k | ▲ 5.0% |
| Other operating charges640/8 | €314 | €896 | €600 | €680 | €638 | ▼ 6.1% |
| Gross operating margin9900 | €119k | €166k | €210k | €177k | €169k | ▼ 4.4% |
| Operating profit (loss)9901 | €109k | €151k | €194k | €155k | €146k | ▼ 5.7% |
| Financial income75/76B | €0 | - | €2k | €7k | €6k | ▼ 21.3% |
| Recurring financial income75 | €0 | - | €2k | €7k | €6k | ▼ 21.3% |
| Financial charges65/66B | €140 | €189 | €404 | €357 | €3k | ▲ 720% |
| Recurring financial charges65 | €140 | €189 | €404 | €357 | €3k | ▲ 720% |
| Profit (loss) for the period before taxes9903 | €109k | €150k | €195k | €162k | €149k | ▼ 8.0% |
| Income taxes67/77 | €23k | €36k | €46k | €37k | €39k | ▲ 7.2% |
| Profit (loss) for the period9904 | €86k | €115k | €150k | €125k | €110k | ▼ 12.5% |
| Profit (loss) for the period to be appropriated9905 | €86k | €115k | €150k | €125k | €110k | ▼ 12.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €276k | €403k | €465k | €415k | €419k | ▲ 0.9% |
| Fixed assets21/28 | €110k | €101k | €98k | €123k | €103k | ▼ 16.5% |
| Tangible fixed assets22/27 | €110k | €101k | €98k | €123k | €103k | ▼ 16.5% |
| Furniture and vehicles24 | €110k | €101k | €89k | €87k | €70k | ▼ 19.4% |
| Other tangible fixed assets26 | - | - | €9k | €36k | €33k | ▼ 9.3% |
| Current assets29/58 | €166k | €301k | €367k | €292k | €316k | ▲ 8.2% |
| Amounts receivable after more than one year29 | - | €65k | €0 | - | - | - |
| Other amounts receivable291 | - | €65k | €0 | - | - | - |
| Amounts receivable within one year40/41 | €4k | €24k | €51k | €74k | €80k | ▲ 8.5% |
| Trade receivables40 | €4k | €13k | €9k | €13k | €36k | ▲ 171% |
| Other amounts receivable41 | €293 | €11k | €42k | €60k | €44k | ▼ 27.5% |
| Current investments50/53 | - | - | €17k | €17k | €17k | = |
| Cash at bank and in hand54/58 | €158k | €209k | €298k | €200k | €217k | ▲ 8.3% |
| Deferred charges and accrued income490/1 | €5k | €3k | €1k | €862 | €2k | ▲ 122% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €276k | €403k | €465k | €415k | €419k | ▲ 0.9% |
| Equity10/15 | €265k | €275k | €265k | €215k | €325k | ▲ 51.1% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €2k | €12k | €12k | €12k | €12k | = |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | €2k | €2k | €2k | €2k | €2k | = |
| Distributable reserves133 | - | €10k | €10k | €10k | €10k | = |
| Profit (loss) carried forward14 | €245k | €245k | €234k | €185k | €294k | ▲ 59.5% |
| Amounts payable17/49 | €11k | €127k | €201k | €200k | €94k | ▼ 53.0% |
| Amounts payable within one year42/48 | €9k | €126k | €199k | €199k | €90k | ▼ 54.7% |
| Trade debts44 | €2k | €6k | €390 | €7k | €11k | ▲ 49.0% |
| Suppliers440/4 | €2k | €6k | €390 | €7k | €11k | ▲ 49.0% |
| Taxes, remuneration and social security45 | €7k | €14k | €39k | €16k | €9k | ▼ 44.8% |
| Taxes450/3 | €7k | €14k | €39k | €16k | €9k | ▼ 44.8% |
| Other amounts payable47/48 | - | €106k | €160k | €175k | €70k | ▼ 59.8% |
| Accrued charges and deferred income492/3 | €2k | €2k | €2k | €2k | €4k | ▲ 166% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €86k | €115k | €150k | €125k | €110k | ▼ 12.5% |
| + Depreciation and write-downs630 | €10k | €15k | €16k | €21k | €22k | ▲ 5.0% |
| Operating cash flow (approximation) | €96k | €130k | €166k | €146k | €132k | ▼ 10.0% |
| Investment in fixed assets (approximation) | - | €-7k | €-13k | €-46k | €-2k | ▲ 96.4% |
| Change in cash | - | €51k | €89k | €-98k | €17k | ▲ 117% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
31-12
Financial
Liquidity doublescurrent ratio 3.51
Current ratio from 1.47 to 3.51; short-term debt falls from €199k to €90k.
31-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 31 days late
2024
31-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 31 days late
2023
31-12
Financial
Highest result since 2019net €150k ▲30.6%
Operating result €194k, net result €150k, both a record.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
17-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 17 days late
2021
31-12
Financial
Equity above €200kEq €265k ▲48.1%
3 profitable years in a row build equity to €265k.
27-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 27 days late
2020
31-12
Financial
Weakest financial yearnet €76k ▼11%
Net result drops to €76k, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity doublescurrent ratio 11.11
Current ratio from 5.07 to 11.11; short-term debt falls from €22k to €17k.
31-12
Financial
Equity above €150kEq €179k ▲73%
2 profitable years in a row build equity to €179k.
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 31 days late
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.
Have them read with priority
Sign in to place this company at the front of the reading queue.
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-Pieters-Woluwe · 1 establishment unit since 2018
Ground area
495 m²
Building footprint
119 m²
Volume, LiDAR
771 m³
Parcel 21682C0137/00K004, Brussels · tallest building 9.8 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
MINDELO
since 20182.274.941.691
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21682C0137/00K004 | Brussels | 495 m² | 1 · 119 m² | 9.8 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.
Similar companies · same sector, comparable size
SADEGO
BE 0686.634.690
Sint-Lambrechts-Woluwe · Eq €324,803
Advanced Energy Technologies 2
BE 0729.642.314
Gent · Eq €324,785
Octille
BE 0804.387.148
Sint-Pieters-Woluwe · Eq €324,783
YENTING
BE 0454.093.721
Pajottegem · Eq €324,810
KARASU CONSULT
BE 0716.631.149
Pittem · Eq €324,810
Of 82,553 companies in sector 70200 we hold annual accounts for 52,585. 37,672 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 (pre-2019)
Founded21-02-2018
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
Scores and ratios are computed by Checked and are not a credit decision.