MINDSTRETCH
ActiveSummary
MINDSTRETCH has been active since 1973 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €229,399 and a net result of €3,979. Equity is shrinking by ~7% per year across the filed fiscal years. Its solvency ranks better than 20% of 3243 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability69▲+69
Solvency42▲+2
Growth32=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €14,000 at 30 days acceptable
Liquidity short (current ratio 0.02 against 0.22 in 2024; short-term debt: 64.5% and cash: 0.6% of total assets), and 82.8% of the assets are financed with debt.
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Signals
Six 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 · 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
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
17.2%
Return on assets
0.3%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 20% of 3243 sector peers (2025).
NBB · sector comparisonPosition among 3243 sector peers
Solvency
better than 20%
← 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 09-07-2026, 22 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
22 d early
2024
6 d early
2023
26 d late
2022
28 d late
2021
25 d late
2020
27 d late
2019
28 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 15 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed 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 25 August (4 of the last 5 filed years within 31 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, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€3,979
2024 · -€534,463
Working capital
-€847,678▼ 37.2%
2024 · -€617,679
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€28,945-€24,237-€17,591▲ 27.4%-€533,729▼ 2,934%€4,106
Net result€18,296within the sector's middle half-€28,797below the sector's middle half-€19,500below the sector's middle half▲ 32.3%-€534,463below the sector's middle half▼ 2,641%€3,979within the sector's middle half
Equity€330,930within the sector's middle half▲ 5.9%€302,133above the sector's middle half▼ 8.7%€282,632above the sector's middle half▼ 6.5%€225,419within the sector's middle half▼ 20.2%€229,399within the sector's middle half▲ 1.8%
Total assets€1.1mwithin the sector's middle half▼ 6.6%€1.0mabove the sector's middle half▼ 4.4%€1.0mabove the sector's middle half▼ 0.8%€1.5mwithin the sector's middle half▲ 48.1%€1.3mwithin the sector's middle half▼ 11.8%
Debt€746,382▼ 11.2%€727,867▼ 2.5%€738,995▲ 1.5%€787,261▲ 6.5%€1.1m▲ 40.3%
Working capital-€558,234below the sector's middle half▼ 5.2%-€624,580below the sector's middle half▼ 11.9%-€615,468below the sector's middle half▲ 1.5%-€617,679below the sector's middle half▼ 0.4%-€847,678below the sector's middle half▼ 37.2%
Solvency30.7%within the sector's middle half▲ 3.6pp29.3%within the sector's middle half▼ 1.4pp27.7%within the sector's middle half▼ 1.7pp14.9%below the sector's middle half▼ 12.8pp17.2%below the sector's middle half▲ 2.3pp
Current ratio0.19below the sector's middle half▼ 0.060.14below the sector's middle half▼ 0.050.17below the sector's middle half▲ 0.030.22below the sector's middle half▲ 0.050.02below the sector's middle half▼ 0.20
Return on assets (ROA)1.7%within the sector's middle half▲ 6.2pp-2.8%below the sector's middle half▼ 4.5pp-1.9%below the sector's middle half▲ 0.9pp-35.3%below the sector's middle half▼ 33.4pp0.3%within the sector's middle half▲ 35.6pp
Staff (FTE)0.5below the sector's middle half=0.7▲ 40.0%0within the sector's middle half0below the sector's middle half
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Why a figure moved sharply
- 2024 Net result -2,641% on 2023. The accounts now follow the abbreviated schema, last year the micro schema.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €4,106 after a loss of €533,729 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.3m
Fixed assets
€1.3m ▼ 1.7%
Current assets
€13,049 ▼ 92.3%
Equity and liabilities €1.3m
Equity
€229,399 ▲ 1.8%
Provisions
€0 ▼ 100%
Debt
€1.1m ▲ 40.3%
Debt's share of the balance-sheet total rises from 52.0% to 82.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€35,835▲
2024 · -€501,477
Cash flow
€35,708▲
2024 · -€502,211
Debt to equity
4.81▲
2024 · 3.49
ROE
1.7%▲
2024 · -237.1%
Interest coverage
47.31▲
2024 · -966.42
Debt ≤ 1 year
€860,727▲
2024 · €787,261
Debt > 1 year
€243,426
Income taxes
€266▲
2024 · €217
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 4,681 companies that looked in July 2024 the way this one looks now, 1.1% went bankrupt within 24 months and 97% are still going.
- Small
- 20 years or older
- solvency 10 to 30%
- a profit under 5% of the balance sheet
1.1%
went bankrupt
2.0%
stopped otherwise
97%
still going
For this company itself Checked computes a bankruptcy probability of 0.1% 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 4,681 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 | - | - | - | €0 | €500,000 | - |
| Remuneration, social security and pensions62 | €7,505 | €10,267 | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €37,432 | €32,700 | €33,236 | €32,252 | €31,728 | ▼ 1.6% |
| Other operating charges640/8 | €3,228 | €2,816 | €3,373 | €3,423 | €4,239 | ▲ 23.8% |
| Non-recurring operating charges66A | - | - | - | €500,000 | €500,000 | = |
| Gross operating margin9900 | €77,111 | €21,546 | €19,018 | €1,946 | €540,074 | ▲ 27,651% |
| Operating profit (loss)9901 | €28,945 | -€24,237 | -€17,591 | -€533,729 | €4,106 | ▲ 101% |
| Financial income75/76B | €22 | €1 | €0 | €2 | €897 | ▲ 44,288% |
| Recurring financial income75 | €22 | €1 | €0 | €2 | €897 | ▲ 44,288% |
| Financial charges65/66B | €5,686 | €4,394 | €1,680 | €519 | €757 | ▲ 46.0% |
| Recurring financial charges65 | €5,686 | €4,394 | €1,680 | €519 | €757 | ▲ 46.0% |
| Profit (loss) for the period before taxes9903 | €23,282 | -€28,630 | -€19,270 | -€534,246 | €4,246 | ▲ 101% |
| Income taxes67/77 | €4,986 | €167 | €230 | €217 | €266 | ▲ 22.9% |
| Profit (loss) for the period9904 | €18,296 | -€28,797 | -€19,500 | -€534,463 | €3,979 | ▲ 101% |
| Profit (loss) for the period to be appropriated9905 | €18,296 | -€28,797 | -€19,500 | -€534,463 | €3,979 | ▲ 101% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.1m | €1.0m | €1.0m | €1.5m | €1.3m | ▼ 11.8% |
| Fixed assets21/28 | €948,142 | €930,868 | €898,101 | €1.3m | €1.3m | ▼ 1.7% |
| Tangible fixed assets22/27 | €948,092 | €930,868 | €898,101 | €1.3m | €1.3m | ▼ 1.7% |
| Land and buildings22 | €941,296 | €920,215 | €890,881 | €1.3m | €1.3m | ▼ 1.5% |
| Furniture and vehicles24 | €6,795 | €10,653 | €7,220 | €4,301 | €1,949 | ▼ 54.7% |
| Financial fixed assets28 | €50 | €0 | - | - | - | - |
| Current assets29/58 | €129,170 | €99,131 | €123,526 | €169,582 | €13,049 | ▼ 92.3% |
| Amounts receivable within one year40/41 | €85,652 | €84,240 | €122,619 | €156,100 | €3,385 | ▼ 97.8% |
| Trade receivables40 | €74,803 | €81,397 | €118,957 | €156,100 | €3,385 | ▼ 97.8% |
| Other amounts receivable41 | €10,849 | €2,843 | €3,662 | €0 | - | - |
| Cash at bank and in hand54/58 | €41,962 | €14,151 | €39 | €12,445 | €8,616 | ▼ 30.8% |
| Deferred charges and accrued income490/1 | €1,556 | €741 | €868 | €1,036 | €1,047 | ▲ 1.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.1m | €1.0m | €1.0m | €1.5m | €1.3m | ▼ 11.8% |
| Equity10/15 | €330,930 | €302,133 | €282,632 | €225,419 | €229,399 | ▲ 1.8% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Revaluation surpluses12 | - | - | - | €477,250 | €477,250 | = |
| Reserves13 | €88,060 | €88,060 | €88,060 | €65,804 | €65,804 | = |
| Non-distributable reserves130/1 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Legal reserve130 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Tax-exempt reserves132 | €59,604 | €59,604 | €59,604 | €59,604 | €59,604 | = |
| Distributable reserves133 | €22,257 | €22,257 | €22,257 | €0 | - | - |
| Profit (loss) carried forward14 | €180,870 | €152,072 | €132,572 | -€379,634 | -€375,655 | ▲ 1.0% |
| Provisions and deferred taxes16 | - | - | - | €500,000 | €0 | ▼ 100% |
| Provisions for liabilities and charges160/5 | - | - | - | €500,000 | €0 | ▼ 100% |
| Environmental obligations163 | - | - | - | €500,000 | €0 | ▼ 100% |
| Amounts payable17/49 | €746,382 | €727,867 | €738,995 | €787,261 | €1.1m | ▲ 40.3% |
| Amounts payable after more than one year17 | €58,681 | €4,139 | €0 | - | €243,426 | - |
| Financial debts170/4 | €58,681 | €4,139 | €0 | - | €243,426 | - |
| Amounts payable within one year42/48 | €687,405 | €723,711 | €738,995 | €787,261 | €860,727 | ▲ 9.3% |
| Current portion of amounts payable after more than one year42 | €79,533 | €8,292 | €4,139 | €0 | €56,574 | - |
| Financial debts43 | €0 | €9 | €838 | €0 | - | - |
| Credit institutions430/8 | €0 | €9 | €838 | €0 | - | - |
| Trade debts44 | €58,039 | €76,668 | €48,420 | €81,194 | €20,194 | ▼ 75.1% |
| Suppliers440/4 | €58,039 | €76,668 | €48,420 | €81,194 | €20,194 | ▼ 75.1% |
| Advances received on contracts in progress46 | €4,443 | €17,538 | €7,650 | €0 | - | - |
| Taxes, remuneration and social security45 | €554 | €1,158 | €1,541 | €609 | €714 | ▲ 17.2% |
| Taxes450/3 | €166 | €1,158 | €1,541 | €609 | €714 | ▲ 17.2% |
| Remuneration and social security454/9 | €388 | €0 | - | - | - | - |
| Other amounts payable47/48 | €544,835 | €620,047 | €676,406 | €705,458 | €783,244 | ▲ 11.0% |
| Accrued charges and deferred income492/3 | €297 | €16 | €0 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €18,296 | -€28,797 | -€19,500 | -€534,463 | €3,979 | ▲ 101% |
| + Depreciation and write-downs630 | €37,432 | €32,700 | €33,236 | €32,252 | €31,728 | ▼ 1.6% |
| Operating cash flow (approximation) | €55,728 | €3,903 | €13,736 | -€502,211 | €35,708 | ▲ 107% |
| Investment in fixed assets (approximation) | - | -€15,426 | -€469 | -€477,250 | -€9,132 | ▲ 98.1% |
| Change in cash | - | -€27,812 | -€14,111 | €12,406 | -€3,829 | ▼ 131% |
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
03-09
State Gazette act
Registered officeRegistered-office move2 facts ▸
State Gazette act
Registered office
Registered-office move2 facts ▸
- Registered-office move, Klapstraat 57, 9831 Sint-Martens-Latem
- Board meeting, 23-07-2026
09-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Back to profitnet €3,979
Net result €3,979 after 3 loss-making years.
25-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Weakest financial yearnet -€534,463
Net result drops to -€534,463, the lowest in the series; recovery starts the following year.
26-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 26 days late
2023
28-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 28 days late
2022
25-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 25 days late
2021
31-12
Financial
Back to profitnet €18,296
Net result €18,296 after 2 loss-making years.
27-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 27 days late
2020
28-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 28 days late
2019
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 28 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 30 days late
2017
11-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 11 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 6 acts read
About the unread acts
Of the 6 Belgian State Gazette acts we know for this company, 1 has been read. The other 5 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
6 acts for this company are in the Belgian State Gazette, of which we have read 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Sint-Martens-Latem · 1 establishment unit since 1998
Ground area
814 m²
Building footprint
106 m²
Parcel 44015B0267/00W002, Flanders. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Klapstraat 57, 9831 Sint-Martens-Latem
since 19982.008.380.644
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44015B0267/00W002 | Flanders | 814 m² | 1 · 106 m² | - |
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.
Public money · subsidies and aid
Flemish government
2025 · 1 entry · 2,530 EUR awarded · 2,530 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 2,530 EUR | 2,530 EUR |
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Of 82,641 companies in sector 70200 we hold annual accounts for 52,636. 39,324 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded24-02-1973
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
85599Other education
Contact
E-mail
fred@mindstretch.eu
E-invoicing
Reachable via Peppol
Peppol ID
0208:0412986804
Also
9925:BE0412986804
Registered
09-12-2025
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.