MINERVA
ActiveSummary
MINERVA has been active since 2001 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-270k) and a net result of €102k. Equity is growing by ~12.1% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability70▲+21
Solvency7▲+6
Growth78=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.85 against 0.81 in 2024; short-term debt: 117.4% and cash: 5.7% of total assets), and equity is negative.
Credit check for your own amount and term
Signals
Three 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
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 29-04-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
8 d late
2023
7 d early
2022
5 d early
2021
1 d early
2020
3 d early
2019
1 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€-270k▲ 27.3%
2024 · €-372k
Total assets
€1.48M▼ 4.0%
2024 · €1.54M
Net result
€102k▲ 72.7%
2024 · €59k
Working capital
€-261k▲ 28.1%
2024 · €-363k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202022202320242025
Operating result€384k€-3k-€-112k▼ 4,326%€88k€126k▲ 44.2%
Net result€384k€-3k-€-141k▼ 5,464%€59k€102k▲ 72.7%
Equity€-281k▲ 57.8%€-290k-€-431k▼ 48.7%€-372k▲ 13.6%€-270k▲ 27.3%
Total assets€483k▲ 15.7%€474k-€1.35M▲ 186%€1.54M▲ 14.2%€1.48M▼ 4.0%
Debt€753k▼ 29.7%€752k-€1.77M▲ 136%€1.91M▲ 7.5%€1.74M▼ 8.6%
Working capital€-270k▲ 58.7%€-278k-€-419k▼ 50.8%€-363k▲ 13.2%€-261k▲ 28.1%
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 44% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.48M
Fixed assets
€3k ▼ 21.4%
Current assets
€1.48M ▼ 4.0%
Key figures and ratios
EBITDA
€127k▲
2024 · €88k
Cash flow
€102k▲
2024 · €59k
Solvency
-18.2%▲
2024 · -24.1%
Current ratio
0.85▲
2024 · 0.81
Quick ratio
0.05▼
2024 · 0.09
Debt to equity
-6.44▼
2024 · -5.12
ROA
6.9%▲
2024 · 3.8%
Interest coverage
5.11▲
2024 · 3.04
Debt ≤ 1 year
€1.74M▼
2024 · €1.90M
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €3k | - | €113k | €165k | ▲ 45.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | €234 | €740 | ▲ 216% |
| Other operating charges640/8 | - | €2k | €5k | €9k | €11k | ▲ 23.4% |
| Non-recurring operating charges66A | - | - | - | - | €340 | - |
| Gross operating margin9900 | €385k | €-566 | €-107k | €97k | €138k | ▲ 43.1% |
| Operating profit (loss)9901 | €384k | €-3k | €-112k | €88k | €126k | ▲ 44.2% |
| Financial income75/76B | - | - | €90 | €0 | €0 | ▼ 92.5% |
| Recurring financial income75 | - | - | €90 | €0 | €0 | ▼ 92.5% |
| Financial charges65/66B | - | - | €29k | €29k | €25k | ▼ 13.8% |
| Recurring financial charges65 | €56 | - | €29k | €29k | €25k | ▼ 13.8% |
| Profit (loss) for the period before taxes9903 | €384k | €-3k | €-141k | €59k | €102k | ▲ 72.7% |
| Profit (loss) for the period9904 | €384k | €-3k | €-141k | €59k | €102k | ▲ 72.7% |
| Profit (loss) for the period to be appropriated9905 | €384k | €-3k | €-141k | €59k | €102k | ▲ 72.7% |
| Line | 2020 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €483k | €474k | €1.35M | €1.54M | €1.48M | ▼ 4.0% |
| Fixed assets21/28 | - | - | - | €3k | €3k | ▼ 21.4% |
| Tangible fixed assets22/27 | - | - | - | €3k | €3k | ▼ 21.4% |
| Furniture and vehicles24 | - | - | - | €3k | €3k | ▼ 21.4% |
| Current assets29/58 | €483k | €474k | €1.35M | €1.54M | €1.48M | ▼ 4.0% |
| Stocks and contracts in progress3 | €428k | €428k | €1.28M | €1.36M | €1.39M | ▲ 2.4% |
| Stocks30/36 | - | €428k | €1.28M | €1.36M | €1.39M | ▲ 2.4% |
| Amounts receivable within one year40/41 | €5k | €7k | €5k | €77k | €914 | ▼ 98.8% |
| Trade receivables40 | - | - | €5k | - | €914 | - |
| Other amounts receivable41 | - | €7k | - | €77k | - | - |
| Cash at bank and in hand54/58 | €50k | €39k | €73k | €103k | €84k | ▼ 18.3% |
| Deferred charges and accrued income490/1 | - | €677 | €368 | €672 | €692 | ▲ 2.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €483k | €474k | €1.35M | €1.54M | €1.48M | ▼ 4.0% |
| Equity10/15 | €-281k | €-290k | €-431k | €-372k | €-270k | ▲ 27.3% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Outside capital11 | - | €19k | €19k | €19k | €19k | = |
| Other1109/19 | - | €19k | €19k | €19k | €19k | = |
| Reserves13 | €26k | €26k | €26k | €26k | €26k | = |
| Non-distributable reserves130/1 | - | €2k | €2k | - | - | - |
| Reserves not available under the articles1311 | - | €2k | €2k | - | - | - |
| Tax-exempt reserves132 | - | €3k | €3k | €3k | €3k | = |
| Distributable reserves133 | - | €21k | €21k | €23k | €23k | = |
| Profit (loss) carried forward14 | €-326k | €-334k | €-475k | €-417k | €-315k | ▲ 24.4% |
| Provisions and deferred taxes16 | €11k | €11k | €11k | €11k | €11k | = |
| Provisions for liabilities and charges160/5 | - | €11k | €11k | €11k | €11k | = |
| Environmental obligations163 | - | €11k | €11k | €11k | €11k | = |
| Amounts payable17/49 | €753k | €752k | €1.77M | €1.91M | €1.74M | ▼ 8.6% |
| Amounts payable within one year42/48 | €753k | €751k | €1.77M | €1.90M | €1.74M | ▼ 8.6% |
| Current portion of amounts payable after more than one year42 | - | €552k | €552k | €1.10M | €550k | ▼ 50.1% |
| Financial debts43 | - | - | €550k | - | - | - |
| Credit institutions430/8 | - | - | €550k | - | - | - |
| Trade debts44 | €169k | €167k | €167k | €166k | €4k | ▼ 97.6% |
| Suppliers440/4 | - | €167k | €167k | €166k | €4k | ▼ 97.6% |
| Advances received on contracts in progress46 | - | - | - | €5k | €5k | = |
| Taxes, remuneration and social security45 | - | - | €31k | €69 | €1k | ▲ 2,001% |
| Taxes450/3 | - | - | €31k | €69 | €1k | ▲ 2,001% |
| Other amounts payable47/48 | - | €33k | €472k | €631k | €1.18M | ▲ 86.9% |
| Accrued charges and deferred income492/3 | - | €1k | €1k | €1k | €1k | = |
| Line | 2020 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €384k | €-3k | €-141k | €59k | €102k | ▲ 72.7% |
| + Depreciation and write-downs630 | - | - | - | €234 | €740 | ▲ 216% |
| Operating cash flow (approximation) | €384k | €-3k | €-141k | €59k | €102k | ▲ 73.3% |
| Investment in fixed assets (approximation) | - | - | - | - | €0 | - |
| Change in cash | - | - | €34k | €30k | €-19k | ▼ 162% |
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
29-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
08-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 8 days late
2024
30-09
Financial
Back to profitnet €59k
Net result €59k after 2 loss-making years.
23-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-09
Financial
Weakest financial yearnet €-141k
Net result drops to €-141k, the lowest in the series; recovery starts the following year.
25-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
29-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
27-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-09
Financial
Back to profitnet €384k
Net result €384k after 2 loss-making years.
29-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
25-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
26-04
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
28-04
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
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.
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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, Mortsel · 1 establishment unit since 2002
Ground area
8,018 m²
Building footprint
7,927 m²
Volume, LiDAR
61,715 m³
Parcel 11512B0005/00S008, Flanders · tallest building 14.7 m, ±3 floors. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
Krijgsbaan 51, 2640 Mortsel
since 20022.095.662.333
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11512B0005/00S008 | Flanders | 8,018 m² | 1 · 7,927 m² | 14.7 m · 3 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
Founded26-11-2001
Fiscal year end30-09
Scores and ratios are computed by Checked and are not a credit decision.