Mindshare Consulting
ActiveSummary
Mindshare Consulting has been active since 1997 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€77,454) and a net result of -€8,238. Equity is shrinking by ~28.8% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability13=
Solvency0=
Growth58=
Track record100
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.09 against 0.1 in 2024; short-term debt: 146.3% and cash: 0.8% of total assets), and equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
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
-46.3%
Return on assets
-4.9%
Age of the figures
9 mo
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
18192122232425
2018 to 2025 · latest year -€77,454
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 · 10 filingsDeviation from the deadline
2025
66 d early
2024
13 d late
2023
19 d late
2022
30 d late
2021
3 d late
2019
91 d late
2018
86 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 25 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
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. Usually files around 13 August (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
-€77,454▼ 11.9%
2024 · -€69,215
Total assets
€167,211▼ 0.4%
2024 · €167,817
Net result
-€8,238▼ 8.9%
2024 · -€7,566
Working capital
-€221,923▼ 3.6%
2024 · -€214,116
Trend over the years
In euros
In euros
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€16,670--€17,173▼ 3.0%-€8,723▲ 49.2%-€7,277▲ 16.6%-€7,921▼ 8.8%
Net result-€22,419--€17,731▲ 20.9%-€9,020▲ 49.1%-€7,566▲ 16.1%-€8,238▼ 8.9%
Equity-€34,898--€52,629▼ 50.8%-€61,649▼ 17.1%-€69,215▼ 12.3%-€77,454▼ 11.9%
Total assets€167,409-€171,896▲ 2.7%€168,357▼ 2.1%€167,817▼ 0.3%€167,211▼ 0.4%
Debt€202,307-€224,525▲ 11.0%€230,007▲ 2.4%€237,032▲ 3.1%€244,665▲ 3.2%
Working capital-€177,740--€193,532▼ 8.9%-€205,582▼ 6.2%-€214,116▼ 4.2%-€221,923▼ 3.6%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €7,921 in 2025 against €7,277 in 2024; the loss grows.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €167,211
Fixed assets
€144,470 ▼ 0.3%
Current assets
€22,741 ▼ 0.8%
Key figures and ratios
EBITDA
-€7,491▼
2024 · -€6,847
Cash flow
-€7,807▼
2024 · -€7,135
Solvency
-46.3%▼
2024 · -41.2%
Current ratio
0.09▼
2024 · 0.10
Quick ratio
0.01▼
2024 · 0.01
Debt to equity
-3.16▲
2024 · -3.42
ROA
-4.9%▼
2024 · -4.5%
Interest coverage
-23.60▲
2024 · -23.74
Debt ≤ 1 year
€244,665▲
2024 · €237,032
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,795 companies that looked in July 2024 the way this one looks now, 2.1% went bankrupt within 24 months and 90% are still going.
- Micro
- 20 years or older
- negative equity
- a small loss
2.1%
went bankrupt
6.0%
stopped otherwise
90%
still going
A further 1.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.2% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 2,795 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €1,399 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €461 | - | €497 | €431 | €431 | = |
| Other operating charges640/8 | €1,748 | €2,845 | €1,852 | €931 | €450 | ▼ 51.7% |
| Gross operating margin9900 | -€14,461 | -€14,328 | -€6,373 | -€5,916 | -€7,041 | ▼ 19.0% |
| Operating profit (loss)9901 | -€16,670 | -€17,173 | -€8,723 | -€7,277 | -€7,921 | ▼ 8.8% |
| Financial income75/76B | €0 | €97 | - | - | €1 | - |
| Recurring financial income75 | €0 | €97 | - | - | €1 | - |
| Financial charges65/66B | €225 | €274 | €298 | €288 | €317 | ▲ 10.0% |
| Recurring financial charges65 | €225 | €274 | €298 | €288 | €317 | ▲ 10.0% |
| Profit (loss) for the period before taxes9903 | -€16,895 | -€17,350 | -€9,020 | -€7,566 | -€8,238 | ▼ 8.9% |
| Income taxes67/77 | €5,525 | €382 | - | - | - | - |
| Profit (loss) for the period9904 | -€22,419 | -€17,731 | -€9,020 | -€7,566 | -€8,238 | ▼ 8.9% |
| Profit (loss) for the period to be appropriated9905 | -€22,419 | -€17,731 | -€9,020 | -€7,566 | -€8,238 | ▼ 8.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €167,409 | €171,896 | €168,357 | €167,817 | €167,211 | ▼ 0.4% |
| Fixed assets21/28 | €143,674 | €143,674 | €143,933 | €144,901 | €144,470 | ▼ 0.3% |
| Tangible fixed assets22/27 | €143,674 | €143,674 | €143,933 | €144,901 | €144,470 | ▼ 0.3% |
| Land and buildings22 | €143,213 | €143,213 | €143,213 | €143,213 | €143,213 | = |
| Furniture and vehicles24 | €461 | €461 | €720 | €1,688 | €1,257 | ▼ 25.5% |
| Current assets29/58 | €23,734 | €28,221 | €24,424 | €22,916 | €22,741 | ▼ 0.8% |
| Stocks and contracts in progress3 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Contracts in progress37 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Amounts receivable within one year40/41 | €2,345 | €4,194 | €1,011 | €1,336 | €1,380 | ▲ 3.3% |
| Trade receivables40 | €930 | €3,121 | - | - | - | - |
| Other amounts receivable41 | €1,414 | €1,073 | €1,011 | €1,336 | €1,380 | ▲ 3.3% |
| Cash at bank and in hand54/58 | €781 | €3,342 | €3,184 | €834 | €1,362 | ▲ 63.2% |
| Deferred charges and accrued income490/1 | €609 | €686 | €229 | €746 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €167,409 | €171,896 | €168,357 | €167,817 | €167,211 | ▼ 0.4% |
| Equity10/15 | -€34,898 | -€52,629 | -€61,649 | -€69,215 | -€77,454 | ▼ 11.9% |
| Contributions10/11 | €131,305 | €131,305 | €131,305 | €131,305 | €131,305 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | -€168,063 | -€185,794 | -€194,815 | -€202,381 | -€210,619 | ▼ 4.1% |
| Amounts payable17/49 | €202,307 | €224,525 | €230,007 | €237,032 | €244,665 | ▲ 3.2% |
| Amounts payable within one year42/48 | €201,474 | €221,753 | €230,007 | €237,032 | €244,665 | ▲ 3.2% |
| Trade debts44 | €1,513 | €621 | €1,419 | €2,678 | €400 | ▼ 85.1% |
| Suppliers440/4 | €1,513 | €621 | €1,419 | €2,678 | €400 | ▼ 85.1% |
| Taxes, remuneration and social security45 | €5,675 | €5,906 | - | - | - | - |
| Taxes450/3 | €5,675 | €5,906 | - | - | - | - |
| Other amounts payable47/48 | €194,286 | €215,226 | €228,588 | €234,354 | €244,265 | ▲ 4.2% |
| Accrued charges and deferred income492/3 | €832 | €2,772 | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€22,419 | -€17,731 | -€9,020 | -€7,566 | -€8,238 | ▼ 8.9% |
| + Depreciation and write-downs630 | €461 | - | €497 | €431 | €431 | = |
| Operating cash flow (approximation) | -€21,958 | -€17,731 | -€8,523 | -€7,135 | -€7,807 | ▼ 9.4% |
| Investment in fixed assets (approximation) | - | €0 | -€756 | -€1,399 | €0 | ▲ 100% |
| Change in cash | - | €2,561 | -€158 | -€2,349 | €527 | ▲ 122% |
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
26-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
13-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 13 days late
2024
19-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 19 days late
2023
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
2022
03-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 3 days late
2020
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 91 days late
2019
31-12
Financial
Weakest financial yearnet -€37,249
Net result drops to -€37,249, the lowest in the series; recovery starts the following year.
25-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 86 days late
2017
29-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 60 days late
2016
27-12
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 149 days late
2014
14-11
NBB filing
Annual accounts filed
fiscal year 2013 · abbreviated schema · 106 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Tremelo · 1 establishment unit since 2001
Ground area
1,390 m²
Building footprint
159 m²
Volume, LiDAR
942 m³
Parcel 24109A0285/00Y000, Flanders · tallest building 8.9 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
MSC TradCo
since 20012.080.772.239
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24109A0285/00Y000 | Flanders | 1,390 m² | 1 · 159 m² | 8.9 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.
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded05-02-1997
Fiscal year end31-12
E-invoicing
Reachable via Peppol
Peppol ID
0208:0459972218
Also
9925:BE0459972218
Registered
25-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.