MINDSCAPE
ActiveFrom the official registers: KBO 19 annual accounts at the National Bank publications in the Belgian Official Gazette
Summary
MINDSCAPE has been active since 2005 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €106,816 and a net result of €13,505. Equity has been shrinking by about 12% per year since 2019. Its solvency ranks better than 43% of 538 sector peers (NACE 62, financial year 2026). The computed 12-month bankruptcy probability is below 0.1% (very low).
Overview
Official details
KBO- Status
- Active since 02-08-2005 Normal situation
- Legal form
- Private limited company
- Registered office
- Willekensmolenstraat 90, 3500 Hasselt
- Activity
- Computer programming NACE 62100and 3 others
- Establishment unit
- 2.235.803.181 3500 Hasselt, since 02-08-2005
- Financial year end
- 31 March
- Peppol
- Reachable since 16-12-2025
Financial position
- Bankruptcy probabilitywithin 12 months
- < 0.1%
- Gross margin
- €67,808
- ▲ 10.8%
- Turnover
- ≈ €160,000
- estimated
- Profit
- €13,505
- ▼ 5.2%
- Equity
- €106,816
- ▼ 14.3%
- Total assets
- €171,916
- ▼ 19.8%
- Staff
- 1 FTE
- =
Score breakdownraises riskFigures for financial year 2025 (filed on 28-10-2025)lowers riskLiquidity: current ratio 2.64, cash €90,616Sector: Computer programming, consultancy and related activities (NACE 62)Size: total assets €171,916Show the evidence
Checked score
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 62, micro). It does better than 54% of them on solvency, 66% on liquidity, 23% on profitability and 28% on growth.
The bankruptcy probability was computed on 31-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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Signals
The company filed its last 6 accounts on average on the deadline day. In the sector (NACE 62), the median for financial year 2024 was 9 days before the deadline, and 33% of those companies filed late.
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Financials · financial year 2025, micro format
Annual accounts 2025
- Financial year ended
- 31-03-2025
- Filed on
- 28-10-2025
- Format
- micro format
- Reference
- 2025-00550738
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result for 2025 is 2% lower than in 2024. It is the second fall in a row.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Average staff per financial year, in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Computer programming, consultancy and related activities (NACE 62). 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 dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).
Companies with the same profile, two years later
Historical observationIn July 2024, 31,368 companies had the same profile as MINDSCAPE has now. Two years later, 0.5% had gone bankrupt and 93.5% were still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of MINDSCAPE itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,445 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 31,368 companies, not a prediction for MINDSCAPE. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €25,349 | €27,274 | €39,081 | €46,090 | ▲ 17.9% |
| Other operating charges640/8 | - | - | - | €817 | €708 | €805 | €834 | ▲ 3.6% |
| Gross operating margin9900 | €55,117 | €70,343 | €41,547 | €43,066 | €60,504 | €61,203 | €67,808 | ▲ 10.8% |
| Operating profit (loss)9901 | €54,484 | €47,616 | €19,927 | €16,900 | €32,522 | €21,316 | €20,885 | ▼ 2.0% |
| Financial income75/76B | - | - | - | - | - | €425 | €522 | ▲ 22.8% |
| Recurring financial income75 | €1,325 | €906 | €14 | - | - | €425 | €522 | ▲ 22.8% |
| Financial charges65/66B | - | - | - | €103 | €101 | €125 | €152 | ▲ 21.5% |
| Recurring financial charges65 | €4 | €4,874 | €24 | €103 | €101 | €125 | €152 | ▲ 21.5% |
| Profit (loss) for the period before taxes9903 | €55,805 | €43,647 | €19,917 | €16,797 | €32,421 | €21,616 | €21,254 | ▼ 1.7% |
| Income taxes67/77 | €16,118 | €13,958 | €6,424 | €5,689 | €10,367 | €7,365 | €7,749 | ▲ 5.2% |
| Profit (loss) for the period9904 | €39,687 | €29,689 | €13,493 | €11,108 | €22,054 | €14,251 | €13,505 | ▼ 5.2% |
| Profit (loss) for the period to be appropriated9905 | €39,687 | €29,689 | €13,493 | €11,108 | €22,054 | €14,251 | €13,505 | ▼ 5.2% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €258,843 | €294,947 | €269,941 | €210,392 | €230,093 | €214,372 | €171,916 | ▼ 19.8% |
| Current assets29/58 | €258,843 | €294,947 | €269,941 | €210,392 | €230,093 | €214,372 | €171,916 | ▼ 19.8% |
| Amounts receivable within one year40/41 | €15,543 | €18,460 | €7,200 | €19,704 | €18,728 | €19,110 | €15,192 | ▼ 20.5% |
| Trade receivables40 | - | - | - | €14,282 | €17,589 | €14,923 | €14,434 | ▼ 3.3% |
| Other amounts receivable41 | - | - | - | €5,421 | €1,139 | €4,187 | €758 | ▼ 81.9% |
| Current investments50/53 | €228,255 | €254,644 | €252,156 | €174,376 | €100,000 | €100,000 | €65,365 | ▼ 34.6% |
| Cash at bank and in hand54/58 | €15,045 | €21,843 | €9,842 | €15,569 | €110,624 | €94,519 | €90,616 | ▼ 4.1% |
| Deferred charges and accrued income490/1 | - | - | - | €742 | €742 | €742 | €742 | = |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €258,843 | €294,947 | €269,941 | €210,392 | €230,093 | €214,372 | €171,916 | ▼ 19.8% |
| Equity10/15 | €225,466 | €238,353 | €185,577 | €167,201 | €151,702 | €124,665 | €106,816 | ▼ 14.3% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €219,266 | €232,153 | €179,377 | €161,001 | €145,502 | €118,465 | €100,616 | ▼ 15.1% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | - | - | - |
| Distributable reserves133 | - | - | - | €159,141 | €143,642 | €118,465 | €100,616 | ▼ 15.1% |
| Amounts payable17/49 | €33,377 | €56,595 | €84,364 | €43,191 | €78,392 | €89,706 | €65,100 | ▼ 27.4% |
| Amounts payable within one year42/48 | €33,377 | €56,595 | €84,364 | €43,191 | €78,392 | €89,706 | €65,100 | ▼ 27.4% |
| Trade debts44 | €133 | €3,122 | €420 | €133 | €1,689 | €133 | €2,696 | ▲ 20× |
| Suppliers440/4 | - | - | - | €133 | €1,689 | €133 | €2,696 | ▲ 20× |
| Taxes, remuneration and social security45 | - | - | - | €13,444 | €15,889 | €16,199 | €17,063 | ▲ 5.3% |
| Taxes450/3 | - | - | - | €10,015 | €12,262 | €10,892 | €10,645 | ▼ 2.3% |
| Remuneration and social security454/9 | - | - | - | €3,428 | €3,627 | €5,307 | €6,418 | ▲ 20.9% |
| Other amounts payable47/48 | - | - | - | €29,615 | €60,814 | €73,374 | €45,342 | ▼ 38.2% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €39,687 | €29,689 | €13,493 | €11,108 | €22,054 | €14,251 | €13,505 | ▼ 5.2% |
| Operating cash flow (approximation) | €39,687 | €29,689 | €13,493 | €11,108 | €22,054 | €14,251 | €13,505 | ▼ 5.2% |
| Change in cash | - | €6,798 | -€12,000 | €5,727 | €95,054 | -€16,105 | -€3,902 | ▲ 75.8% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 19 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2025 | micro format | 28-10-2025 | 2025-00550738 | |
| 31-03-2024 | micro format | 28-10-2024 | 2024-00515661 | |
| 31-03-2023 | micro format | 20-10-2023 | 2023-00489166 | |
| 31-03-2022 | micro format | 24-10-2022 | 2022-20472368 | |
| 31-03-2021 | micro format | 27-10-2021 | 2021-73800250 | |
| 31-03-2020 | micro format | 28-11-2020 | 2020-73200234 | |
| 31-03-2019 | micro format | 17-10-2019 | 2019-70600577 | |
| 31-03-2018 | micro format | 23-10-2018 | 2018-70000037 | |
| 31-03-2017 | micro format | 19-10-2017 | 2017-67500022 | |
| 31-03-2016 | abbreviated format | 27-09-2016 | 2016-61500142 |
Comparable companies
These companies have the same main activity as MINDSCAPE: computer programming (NACE 62100). They are comparable in size and age: total assets between €211,000 and €230,000, founded between 2004 and 2008.
| Company | Founded | Total assets | Equity | Gross margin | Turnover | Net result | FTE | Financial year |
|---|---|---|---|---|---|---|---|---|
| MINDSCAPE Hasselt | 2005 | €200,188 | €109,320 | €74,646 | - | €17,663 | - | 2026 |
| GeOpus Bilzen-Hoeselt | 2005 | €229,746 | €165,869 | €70,027 | - | €35,695 | - | 2025 |
| YESS Wellen | 2007 | €220,346 | €110,212 | €62,702 | - | €45,257 | - | 2025 |
| TELESEMINAR Zottegem | 2004 | €217,793 | €91,653 | €75,360 | €133,234 | -€6,186 | - | 2025 |
| Clavis Computing Harelbeke | 2006 | €220,690 | €156,294 | €74,956 | - | €49,393 | - | 2025 |
| Misc.IT Meise | 2008 | €211,011 | €174,926 | €73,157 | - | €57,521 | - | 2025 |
| 2 Advice Elsene | 2008 | €223,055 | €35,855 | €68,254 | - | €1,031 | 1 | 2025 |
They were chosen from the 9,111 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| MARTENS Jan |
|
The board according to the articles of association
Board and representation
- Signing authorityThe articles say who may bind the company, for example by signing a contract.
- Each director alone
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “Bestuursorgaan, een of meer bestuurders”“Algemene kosten,los van representatie-,reis- en verplaatsingskosten, algemene vergadering”
Audit, dissolution and liquidation
- Dissolution ruleThe articles set when and by whom the company can be dissolved.
- “Algemene vergadering beslissende in vormen vereist voor statutenwijziging, op elk moment”
- Liquidation ruleIn a liquidation the creditors are paid first. What is left goes to the shareholders.
- “Indien geen andere vereffenaar zou zijn benoemd, bestuurder(s) in functie als vereffenaar(s) krachtens statuten”
Articles of association, deed of 02-01-2024
Owners and capital
Capital transactions
- 02-01-2024 Capital stated in the deed · 100 shares
Shares according to the articles of association
Capital, shares and profit
- Kind of sharesThe articles set which classes of shares exist and what rights each class carries.
- “Vruchtgebruiker en blote eigenaar afzonderlijk ingeschreven met respectievelijke rechten, overdrachten en overgangen slechts uitwerking…”
- Transfer restrictionThis rule says whether shareholders may sell their shares freely or need approval first.
- “Helft overdrager,helft koper(s) naar evenredigheid, zelfde formaliteiten indien geen aandeelhouder van rechtswege”
- Share issue ruleThe articles set how and by whom new shares are issued.
- “Ten minste vijftien dagen te rekenen van openstelling intekening, eerst aan bestaande aandeelhouders naar evenredigheid aantal aandelen”
Other provisionsThese rules from the articles cover subjects other than the board, the shares, the purpose and the meetings.
Articles of association, deed of 02-01-2024 (in Dutch)
Group and network
Connections & network
1 current directorThe network starts from the directors of MINDSCAPE. Every other company they run is a node.
History
Acts, filings and financial milestones
02-01
Gazette deed
Resignation: MARTENS Jan (manager)Appointment: MARTENS Jan (director) · Purpose change · Amendment of the articles14 points ▸
- General meeting, 20-12-2023
- Purpose change
- Amendment of the articles, mentioned 2 times in the deed
- Legal-form conversion, “besloten vennootschap” (deed in Dutch)
- Capital conversion, “van rechtswege omgezet”, 01-01-2020 (deed in Dutch)
- Reserve release, “beschikbare reserve” (deed in Dutch)
- Capital
- Power of attorney, mentioned 2 times in the deed
- Director resignation, MARTENS Jan (manager)
- Director appointment, MARTENS Jan (director (not named in the articles))
- Director discharge, MARTENS Jan
- Registered office clause, “3500 Hasselt, Willekensmolenstraat 90” (deed in Dutch)
- The act holds 2 more points.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 202515 activities
- Het opstellen,installeren,verwerken,wijzigen,aanpassen,aankopen en verkopen van computergegevens en -programma’s,informaticasystemen en multimedia- en communicatiesystemen
- De aankoop,de verkoop,het huren en verhuren,het leveren,onderhouden en herstellen van software en hardware informaticaproducten,-gegevens,-(rand)apparatuur en materialen in de ruimste zin van het woord
- Het maken en ontwikkelen van computerprogramma’s,de verdeling van informaticamateriaal,hardware,software,het zelf samenstellen van computerconfiguraties en de assemblage,import,export,aan- en verkoop van virtual reality,internet en toebehoren,het herstellen van hardware,het onderrichten van eindgebruikers,het verdelen van computermagazines,computerboeken en computermeubilair,dit alles in de meest ruime zin van het woord
- Het verstrekken van adviezen,het verlenen van diensten,het optreden als consulent,training en opleiding in verband met aangelegenheden of activiteiten die enig verband houden met het voorgaande,in de ruimste zin van het woord
- Algemene projectcoördinatie
- Coaching/begeleiding/training in diverse thema’s
- Gidsen
- Het in de plaats treden van personen(loontrekkend,ambtenaar of zelfstandige)of vennootschappen,zowel voor management als voor administratie,organisatie,marketing en public relations en het tot stand brengen van samenwerkingsovereenkomsten tussen vennootschappen,loontrekkenden en zelfstandigen of tussen gelijke partijen,het opvolgen hiervan en het bemiddelen,bijsturen,optimaliseren of beëindigen van voornoemde samen-werkingsovereenkomsten
- Het leveren van diensten en het verstrekken van adviezen in de ruimste zin van het woord die enig rechtstreeks of onrechtstreeks verband houden met het voorgaande
- De uitbating van een horeca-zaak,omvattende ondermeer drankgelegenheid,kleine snacks,bereiding van maaltijden,levering aan huis van zelfbereide maaltijden,restaurant,traiteur-banketaanneming,amusementsspelen en alle hoofd- en nevenactiviteiten die in soortgelijke aangelegenheden of plaatsen georganiseerd of uitgebaat kunnen worden
- Vervoer van personen
- Verhuur en lease van motorvoertuigen
- Uitbaten van vakantieverblijven en andere accommodatie voor kort verblijf
- Verhuur van wellness-faciliteiten,zoals sauna’s,solaria,baden,enzovoort
- Alle handelingen op het vlak van vastgoed en immobiliën,onder meer de aankoop,verkoop,ruil,beheer,verhuur,leasing en eventuele financiële of andere technieken om onroerende goederen te verwerven en te verhandelen,doch enkel in het kader van het beheer en de gebeurlijke uitbreiding van een eigen patrimonium
Invoicing and payment
Financial year and general meeting
Accounts at the NBBThe scores and ratios are Checked's own calculations, not a credit decision.
Recognitions · licences · registrations
Legal Entity Identifier
Environmental permits: No permit applications found in Flanders.
Sites & property
1 establishment unit
Buildings and parcels at the address
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 71323C0080/00D002 | Flanders | 495 m² | 1 · 83 m² | 11.8 m · 3 |