Minkey
ActiveSummary
Minkey has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €546,732 and a net result of €54,152. Equity is growing by ~15.5% per year across the filed fiscal years. Its solvency ranks better than 95% of 18606 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability81▼-3
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €40,000 at 30 days acceptable
Liquidity ample (current ratio 21.58 against 7.54 in 2024; short-term debt: 4.6% and cash: 8.1% of total assets), and 4.6% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
95.4%
Return on assets
9.4%
Age of the figures
9 mo
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 31-12-2025 was due by 31-07-2026 and was filed on 30-06-2026, 31 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
31 d early
2024
23 d early
2023
33 d early
2022
31 d early
2021
30 d early
2020
37 d early
2019
19 d early
← 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 29 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 46% 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 30 June (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
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Financials · fiscal year 2025, micro schema
Equity
€546,732▲ 11.0%
2024 · €492,580
Total assets
€573,296▲ 6.7%
2024 · €537,343
Net result
€54,152▼ 17.8%
2024 · €65,900
Working capital
€546,709▲ 86.7%
2024 · €292,858
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, 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€53,686▼ 14.2%€59,431▲ 10.7%€82,072▲ 38.1%€88,746▲ 8.1%€14,860▼ 83.3%
Net result€39,315above the sector's middle half▼ 11.0%€47,104above the sector's middle half▲ 19.8%€59,897above the sector's middle half▲ 27.2%€65,900above the sector's middle half▲ 10.0%€54,152above the sector's middle half▼ 17.8%
Equity€319,679above the sector's middle half▲ 14.0%€366,783above the sector's middle half▲ 14.7%€426,680above the sector's middle half▲ 16.3%€492,580above the sector's middle half▲ 15.4%€546,732above the sector's middle half▲ 11.0%
Total assets€346,050above the sector's middle half▲ 15.4%€395,828above the sector's middle half▲ 14.4%€466,516above the sector's middle half▲ 17.9%€537,343above the sector's middle half▲ 15.2%€573,296above the sector's middle half▲ 6.7%
Debt€26,371▲ 35.7%€29,045▲ 10.1%€39,836▲ 37.2%€44,763▲ 12.4%€26,564▼ 40.7%
Working capital€207,072above the sector's middle half▼ 26.1%€168,944above the sector's middle half▼ 18.4%€227,437above the sector's middle half▲ 34.6%€292,858above the sector's middle half▲ 28.8%€546,709above the sector's middle half▲ 86.7%
Solvency92.4%above the sector's middle half▼ 1.1pp92.7%above the sector's middle half▲ 0.3pp91.5%above the sector's middle half▼ 1.2pp91.7%above the sector's middle half▲ 0.2pp95.4%above the sector's middle half▲ 3.7pp
Current ratio8.85above the sector's middle half▼ 6.576.82above the sector's middle half▼ 2.046.71above the sector's middle half▼ 0.117.54above the sector's middle half▲ 0.8321.58above the sector's middle half▲ 14.04
Return on assets (ROA)11.4%within the sector's middle half▼ 3.4pp11.9%above the sector's middle half▲ 0.5pp12.8%above the sector's middle half▲ 0.9pp12.3%within the sector's middle half▼ 0.6pp9.4%within the sector's middle half▼ 2.8pp
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 83% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €573,296
Fixed assets
€23 ▼ 100.0%
Current assets
€573,273 ▲ 69.8%
Equity and liabilities €573,296
Equity
€546,732 ▲ 11.0%
Debt
€26,564 ▼ 40.7%
Debt's share of the balance-sheet total falls from 8.3% to 4.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€15,026▼
2024 · €88,912
Cash flow
€54,318▼
2024 · €66,066
Debt to equity
0.05▼
2024 · 0.09
ROE
9.9%▼
2024 · 13.4%
Interest coverage
484.71▼
2024 · 935.92
Debt ≤ 1 year
€26,564▼
2024 · €44,763
Income taxes
€10,328▼
2024 · €26,152
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 20,129 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
4.7%
stopped otherwise
95%
still going
For this company itself Checked computes a bankruptcy probability of 0.5% 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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 20,129 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | €144 | €166 | €166 | = |
| Other operating charges640/8 | €449 | €449 | €493 | €505 | €520 | ▲ 3.0% |
| Gross operating margin9900 | €54,135 | €59,880 | €82,709 | €89,417 | €15,546 | ▼ 82.6% |
| Operating profit (loss)9901 | €53,686 | €59,431 | €82,072 | €88,746 | €14,860 | ▼ 83.3% |
| Financial income75/76B | €1,342 | €5,250 | €2,065 | €3,401 | €49,651 | ▲ 1,360% |
| Recurring financial income75 | €1,342 | €5,250 | €2,065 | €3,401 | €49,651 | ▲ 1,360% |
| Financial charges65/66B | €43 | €48 | €55 | €95 | €31 | ▼ 67.4% |
| Recurring financial charges65 | €43 | €48 | €55 | €95 | €31 | ▼ 67.4% |
| Profit (loss) for the period before taxes9903 | €54,985 | €64,633 | €84,082 | €92,052 | €64,480 | ▼ 30.0% |
| Income taxes67/77 | €15,670 | €17,529 | €24,185 | €26,152 | €10,328 | ▼ 60.5% |
| Profit (loss) for the period9904 | €39,315 | €47,104 | €59,897 | €65,900 | €54,152 | ▼ 17.8% |
| Profit (loss) for the period to be appropriated9905 | €39,315 | €47,104 | €59,897 | €65,900 | €54,152 | ▼ 17.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €346,050 | €395,828 | €466,516 | €537,343 | €573,296 | ▲ 6.7% |
| Fixed assets21/28 | €112,607 | €197,839 | €199,243 | €199,722 | €23 | ▼ 100.0% |
| Tangible fixed assets22/27 | - | - | €355 | €189 | €23 | ▼ 87.8% |
| Plant, machinery and equipment23 | - | - | €355 | €189 | €23 | ▼ 87.8% |
| Financial fixed assets28 | €112,607 | €197,839 | €198,888 | €199,533 | - | - |
| Current assets29/58 | €233,443 | €197,989 | €267,273 | €337,621 | €573,273 | ▲ 69.8% |
| Amounts receivable within one year40/41 | €6,324 | €12,782 | €14,199 | €15,348 | €11,924 | ▼ 22.3% |
| Trade receivables40 | €6,324 | €12,782 | €14,199 | €15,348 | - | - |
| Other amounts receivable41 | - | - | - | - | €11,924 | - |
| Current investments50/53 | €125,000 | €146,806 | €197,184 | €248,869 | €515,036 | ▲ 107% |
| Cash at bank and in hand54/58 | €102,119 | €38,401 | €55,890 | €73,404 | €46,313 | ▼ 36.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €346,050 | €395,828 | €466,516 | €537,343 | €573,296 | ▲ 6.7% |
| Equity10/15 | €319,679 | €366,783 | €426,680 | €492,580 | €546,732 | ▲ 11.0% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €301,079 | €348,183 | €408,080 | €473,980 | €528,132 | ▲ 11.4% |
| Non-distributable reserves130/1 | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | €299,219 | €346,323 | €408,080 | €473,980 | €528,132 | ▲ 11.4% |
| Amounts payable17/49 | €26,371 | €29,045 | €39,836 | €44,763 | €26,564 | ▼ 40.7% |
| Amounts payable within one year42/48 | €26,371 | €29,045 | €39,836 | €44,763 | €26,564 | ▼ 40.7% |
| Trade debts44 | €65 | - | €67 | €71 | €90 | ▲ 26.8% |
| Suppliers440/4 | €65 | - | €67 | €71 | €90 | ▲ 26.8% |
| Taxes, remuneration and social security45 | €17,807 | €18,412 | €27,695 | €31,768 | €10,326 | ▼ 67.5% |
| Taxes450/3 | €17,807 | €18,412 | €27,695 | €31,768 | €10,326 | ▼ 67.5% |
| Other amounts payable47/48 | €8,499 | €10,633 | €12,074 | €12,924 | €16,148 | ▲ 24.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €39,315 | €47,104 | €59,897 | €65,900 | €54,152 | ▼ 17.8% |
| + Depreciation and write-downs630 | - | - | €144 | €166 | €166 | = |
| Operating cash flow (approximation) | €39,315 | €47,104 | €60,041 | €66,066 | €54,318 | ▼ 17.8% |
| Investment in fixed assets (approximation) | - | -€85,232 | -€1,548 | -€645 | €199,533 | ▲ 31,035% |
| Change in cash | - | -€63,718 | €17,489 | €17,514 | -€27,091 | ▼ 255% |
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
30-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Liquidity triplescurrent ratio 21.58
Current ratio from 7.54 to 21.58; short-term debt falls from €44,763 to €26,564.
31-12
Financial
Equity above €500,000Eq €546,732 ▲11%
8 profitable years in a row build equity to €546,732.
08-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2018net €65,900 ▲10%
Operating result €88,746, net result €65,900, both a record.
28-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
01-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
24-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
12-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
24-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
28-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
08-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro 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 2006
Ground area
230 m²
Building footprint
106 m²
Volume, LiDAR
760 m³
Parcel 11513C0265/00G002, Flanders · tallest building 11.0 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Minkey
since 20062.151.789.996
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11513C0265/00G002 | Flanders | 230 m² | 1 · 106 m² | 11.0 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.
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Of 2,342 companies in sector 47621 we hold annual accounts for 1,246. 783 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded07-02-2006
Fiscal year end31-12
Activities, NACEBEL 2025
47621Retail sale of newspapers and periodicals
E-invoicing
Reachable via Peppol
Peppol ID
0208:0879184640
Also
9925:BE0879184640
Registered
30-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.