Minga Recyclage
ActiveMinga Recyclage has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €85k and a net result of €31k. Equity is growing by ~46% per year across the filed fiscal years. Its solvency ranks better than 52% of 174 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.4% (low).
Checked score
Score 2025
65
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability86=
Solvency62▼-4
Growth52=
Track record94
Bankruptcy probability, 12 months
1.4%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €5k at 30 days acceptable
Liquidity ample (current ratio 5.16 against 1.18 in 2024; short-term debt: 11.1% and cash: 0.2% of total assets), but 63% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
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
37%
Return on assets
13.6%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 38
Relative position
BE, all sectors
reference
Sector 38
higher
← fewer bankruptcies
more bankruptcies →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 09-09-2026, 40 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 · 3 filingsDeviation from the deadline
2025
40 d late
2024
25 d late
2023
89 d late
← before the deadline
after the deadline →
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
19-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€85k▲ 57.9%
2024 · €54k
2023: €35k
2024: €54k
2023 → 2025
Total assets
€229k▲ 75.6%
2024 · €130k
2023: €43k
2024: €130k
2023 → 2025
Net result
€31k▲ 70.0%
2024 · €18k
2023: €33k
2024: €18k
2023 → 2025
Working capital
€106k▲ 912%
2024 · €10k
2023: €35k
2024: €10k
2023 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line202320242025Trend
Equity€35k-€54k▲ 51.7%€85k▲ 57.9%
Operating result€33k-€18k▼ 44.6%€42k▲ 128%
Net result€33k-€18k▼ 44.4%€31k▲ 70.0%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 128% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €229k
Fixed assets
€98k▲ 59.4%
Current assets
€131k▲ 89.9%
Equity and liabilities €229k
Equity
€85k▲ 57.9%
Debt
€144k▲ 88.0%
The debt ratio rises from 58.8% to 63.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€61k▲
2024 · €34k
Cash flow
€50k▲
2024 · €34k
Solvency
37.0%▼
2024 · 41.2%
Current ratio
5.16▲
2024 · 1.18
Quick ratio
5.01▲
2024 · 1.18
Debt / equity
1.70▲
2024 · 1.43
ROE
36.7%▲
2024 · 34.1%
ROA
13.6%▼
2024 · 14.0%
Interest coverage
14.02▼
2024 · 2526.32
Debt
€144k▲
2024 · €77k
Debt ≤ 1 year
€25k▼
2024 · €59k
Debt > 1 year
€119k▲
2024 · €18k
Income taxes
€6k
Staff costs
€590
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€130k€229k▲
Fixed assets21/28€61k€98k▲
Tangible fixed assets22/27€61k€98k▲
Land and buildings22-€2k
Plant, machinery and equipment23-€26k
Furniture and vehicles24€61k€68k▲
Other tangible fixed assets26-€1k
Current assets29/58€69k€131k▲
Stocks and contracts in progress3-€4k
Stocks30/36-€4k
Amounts receivable within one year40/41€56k€59k▲
Trade receivables40€49k€52k▲
Other amounts receivable41€7k€7k▲
Cash at bank and in hand54/58€13k€474▼
Deferred charges and accrued income490/1-€67k
Equity and liabilities
Total equity and liabilities10/49€130k€229k▲
Equity10/15€54k€85k▲
Contributions10/11€3k€3k=
Profit (loss) carried forward14€51k€82k▲
Amounts payable17/49€77k€144k▲
Amounts payable after more than one year17€18k€119k▲
Financial debts170/4€18k€119k▲
Amounts payable within one year42/48€59k€25k▼
Current portion of amounts payable after more than one year42-€17k
Trade debts44€35k€3k▼
Suppliers440/4€35k€3k▼
Taxes, remuneration and social security45€14k€5k▼
Taxes450/3€14k€5k▼
Other amounts payable47/48€9k-
Income statement
Code20242025
Remuneration, social security and pensions62-€590
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€15k€19k▲
Other operating charges640/8€353€3k▲
Gross operating margin9900€34k€64k▲
Operating profit (loss)9901€18k€42k▲
Financial income75/76B€1€34▲
Recurring financial income75€1€34▲
Financial charges65/66B€13€4k▲
Recurring financial charges65€13€4k▲
Profit (loss) for the period before taxes9903€18k€37k▲
Income taxes67/77-€6k
Profit (loss) for the period9904€18k€31k▲
Profit (loss) for the period to be appropriated9905€18k€31k▲
Appropriation of the result
Profit (loss) to be appropriated9906€51k€82k▲
Profit (loss) brought forward from the previous period14P€33k€51k▲
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
09-09
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 40 days late
2025
31-12
Financial
Liquidity quadruplescurrent ratio 5.16
Current ratio from 1.18 to 5.16; short-term debt falls from €59k to €25k.
25-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 25 days late
2024
31-12
Financial
Weakest financial yearnet €18k ▼44.4%
Net result drops to €18k, the lowest in the series; recovery starts the following year.
28-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 89 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Maasmechelen · 1 establishment unit since 2022
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Heirstraat(M) 5133630 MaasmechelenGround area
6,488 m²
Building footprint
1,185 m²
Volume, LiDAR
5,221 m³
2 parcels, Flanders · tallest building 9.7 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Minga Recyclage
since 20222.337.733.058
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 73048B1029/00B000 | Flanders | 6,190 m² | 1 · 1,039 m² | 7.0 m · 2 fl. |
| 73060D0186/00Y000 | Flanders | 298 m² | 1 · 146 m² | 9.7 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels 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
2024 · 1 entry · 397 EUR awarded · 397 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 397 EUR | 397 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 393 companies in sector 38110 we hold annual accounts for 202. 112 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded28-10-2022
Fiscal year end31-12
Abbreviation NL
M.R
Activities, NACEBEL
38110Waste collection, recovery and disposal activities
Sources
Crossroads Bank for EnterprisesNational Bank · 3 filingsAddress and cadastre registers
Data from official sources, last processed on 18-09-2026. Scores and ratios are computed by Checked and are not a credit decision.