MIT
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 31-10-2025 PDF all 17 filings
Turnover
≈ €26,000
Estimated: probably between €15,000 and €52,000
Total assets
€71,115▲ 4.4%
2024 · €68,104
Net result
-€9,570
2024 · €3,237
Working capital
-€18,390
2024 · €12,519
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
-€9,465
2025
20192025
Net result
-€9,570
2025
lowest quarter of the sector
20192025
Equity
€2,948
▼ 76.4%
2025
lowest quarter of the sector
20192025
Total assets
€71,115
▲ 4.4%
2025
middle half of the sector
20192025
Debt
€68,167
▲ 22.6%
2025
20192025
Working capital
-€18,390
2025
lowest quarter of the sector
20192025
Solvency
4.1%
▼ 14.2pp
2025
lowest quarter of the sector
20192025
Current ratio
0.73
▼ 0.49
2025
lowest quarter of the sector
20192025
Return on assets (ROA)
-13.5%
▼ 18.2pp
2025
lowest quarter of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€42,806--€11,295€60,290€26,779▼ 55.6%€17,766▼ 33.7%€3,418▼ 80.8%-€9,465
Net result€42,760--€9,175below the sector's middle half€60,202above the sector's middle half€26,650within the sector's middle half▼ 55.7%€17,676within the sector's middle half▼ 33.7%€3,237within the sector's middle half▼ 81.7%-€9,570below the sector's middle half
Equity-€86,072--€95,247below the sector's middle half▼ 10.7%-€35,045below the sector's middle half▲ 63.2%-€8,394below the sector's middle half▲ 76.0%€9,282below the sector's middle half€12,519below the sector's middle half▲ 34.9%€2,948below the sector's middle half▼ 76.4%
Total assets€78,893-€71,504within the sector's middle half▼ 9.4%€68,977within the sector's middle half▼ 3.5%€61,792within the sector's middle half▼ 10.4%€62,666within the sector's middle half▲ 1.4%€68,104within the sector's middle half▲ 8.7%€71,115within the sector's middle half▲ 4.4%
Debt€164,965-€166,751▲ 1.1%€104,022▼ 37.6%€70,187▼ 32.5%€53,384▼ 23.9%€55,586▲ 4.1%€68,167▲ 22.6%
Working capital€44,510-€38,144within the sector's middle half▼ 14.3%€37,216within the sector's middle half▼ 2.4%-€12,264below the sector's middle half€9,282within the sector's middle half€12,519within the sector's middle half▲ 34.9%-€18,390below the sector's middle half
Solvency-109.1%--133.2%below the sector's middle half▼ 24.1pp-50.8%below the sector's middle half▲ 82.4pp-13.6%below the sector's middle half▲ 37.2pp14.8%below the sector's middle half▲ 28.4pp18.4%below the sector's middle half▲ 3.6pp4.1%below the sector's middle half▼ 14.2pp
Current ratio3.35-2.75within the sector's middle half▼ 0.602.55within the sector's middle half▼ 0.200.83below the sector's middle half▼ 1.721.17within the sector's middle half▲ 0.351.23within the sector's middle half▲ 0.050.73below the sector's middle half▼ 0.49
Return on assets (ROA)54.2%--12.8%below the sector's middle half▼ 67.0pp87.3%above the sector's middle half▲ 100.1pp43.1%above the sector's middle half▼ 44.2pp28.2%above the sector's middle half▼ 14.9pp4.8%within the sector's middle half▼ 23.5pp-13.5%below the sector's middle half▼ 18.2pp
above
within
below
The sector band is the middle half of the companies in Office administrative, office support and other business support activities (NACE 82). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a loss of €9,465, after a profit of €3,418 in 2024. It is the lowest result since 2020.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €71,115
Fixed assets
€21,338
Current assets
€49,777
Equity and liabilities €71,115
Equity
€2,948 ▼ 76.4%
Debt
€68,167 ▲ 22.6%
Debt's share of the balance-sheet total rises from 81.6% to 95.9%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€4,146
Cash flow
-€4,252
Debt to equity
23.12▲
2024 · 4.44
ROE
-324.6%▼
2024 · 25.9%
Interest coverage
-39.21
Debt ≤ 1 year
€68,167▲
2024 · €55,586
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 |
|---|---|---|---|---|
| Tangible fixed assets | - | - | - | €26,656 |
| Depreciation and write-downs of the year | €3,870 | €3,870 | - | €5,319 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | €10,331 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,870 | €3,870 | €3,870 | €3,870 | €3,870 | - | €5,319 | - |
| Other operating charges640/8 | - | - | - | €215 | €238 | €180 | €9,067 | ▲ 50× |
| Gross operating margin9900 | €47,196 | -€7,221 | €65,578 | €30,864 | €21,873 | €3,598 | €4,921 | ▲ 36.8% |
| Operating profit (loss)9901 | €42,806 | -€11,295 | €60,290 | €26,779 | €17,766 | €3,418 | -€9,465 | - |
| Financial charges65/66B | - | - | - | €129 | €90 | €181 | €106 | ▼ 41.5% |
| Recurring financial charges65 | €46 | €44 | €88 | €129 | €90 | €181 | €106 | ▼ 41.5% |
| Profit (loss) for the period before taxes9903 | €42,760 | -€9,175 | €60,202 | €26,650 | €17,676 | €3,237 | -€9,570 | - |
| Profit (loss) for the period9904 | €42,760 | -€9,175 | €60,202 | €26,650 | €17,676 | €3,237 | -€9,570 | - |
| Profit (loss) for the period to be appropriated9905 | €42,760 | -€9,175 | €60,202 | €26,650 | €17,676 | €3,237 | -€9,570 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €78,893 | €71,504 | €68,977 | €61,792 | €62,666 | €68,104 | €71,115 | ▲ 4.4% |
| Fixed assets21/28 | €15,479 | €11,609 | €7,739 | €3,870 | - | - | €21,338 | - |
| Tangible fixed assets22/27 | €15,479 | €11,609 | €7,739 | €3,870 | - | - | €21,338 | - |
| Furniture and vehicles24 | - | - | - | €3,870 | - | - | €21,338 | - |
| Current assets29/58 | €63,414 | €59,895 | €61,238 | €57,923 | €62,666 | €68,104 | €49,777 | ▼ 26.9% |
| Amounts receivable within one year40/41 | €56,540 | €57,932 | €52,210 | €52,059 | €51,895 | €66,347 | €48,237 | ▼ 27.3% |
| Trade receivables40 | - | - | - | €51,895 | €51,895 | €65,780 | €42,996 | ▼ 34.6% |
| Other amounts receivable41 | - | - | - | €164 | - | €566 | €5,241 | ▲ 825% |
| Cash at bank and in hand54/58 | €6,824 | €1,963 | €9,027 | €5,864 | €10,770 | €1,758 | €1,540 | ▼ 12.4% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €78,893 | €71,504 | €68,977 | €61,792 | €62,666 | €68,104 | €71,115 | ▲ 4.4% |
| Equity10/15 | -€86,072 | -€95,247 | -€35,045 | -€8,394 | €9,282 | €12,519 | €2,948 | ▼ 76.4% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | -€106,532 | -€115,707 | -€55,505 | -€28,854 | -€11,178 | -€7,941 | -€17,512 | ▼ 121% |
| Amounts payable17/49 | €164,965 | €166,751 | €104,022 | €70,187 | €53,384 | €55,586 | €68,167 | ▲ 22.6% |
| Amounts payable after more than one year17 | €145,000 | €145,000 | €80,000 | - | - | - | - | - |
| Amounts payable within one year42/48 | €18,904 | €21,751 | €24,022 | €70,187 | €53,384 | €55,586 | €68,167 | ▲ 22.6% |
| Trade debts44 | €1,403 | €257 | €1,050 | €1,228 | €3,049 | €876 | €90 | ▼ 89.7% |
| Suppliers440/4 | - | - | - | €1,228 | €3,049 | €876 | €90 | ▼ 89.7% |
| Taxes, remuneration and social security45 | - | - | - | - | €4,877 | - | - | - |
| Taxes450/3 | - | - | - | - | €4,877 | - | - | - |
| Other amounts payable47/48 | - | - | - | €68,959 | €45,459 | €54,710 | €68,077 | ▲ 24.4% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €42,760 | -€9,175 | €60,202 | €26,650 | €17,676 | €3,237 | -€9,570 | - |
| + Depreciation and write-downs630 | €3,870 | €3,870 | €3,870 | €3,870 | €3,870 | - | €5,319 | - |
| Operating cash flow (approximation) | €46,630 | -€5,305 | €64,072 | €30,520 | €21,546 | €3,237 | -€4,252 | - |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | - | - | - | - |
| Change in cash | - | -€4,861 | €7,065 | -€3,164 | €4,907 | -€9,013 | -€218 | ▲ 97.6% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 540 companies had the same profile as MIT has now. Two years later, 85.9% were still going and 5.2% had gone bankrupt.
- Micro
- 20 years or older
- solvency under 10%
- a loss of 10% of the balance sheet or more
85.9%
was still going
8.3%
stopped otherwise
5.2%
went bankrupt
Another 0.6% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of MIT itself: 1.9% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 540 companies, not a prediction for MIT. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 17 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2025 | micro format | 31-10-2025 | 2025-00556024 | |
| 31-03-2024 | micro format | 27-11-2024 | 2024-00607962 | |
| 31-03-2023 | micro format | 30-11-2023 | 2023-00519562 | |
| 31-03-2022 | micro format | 30-09-2022 | 2022-20456023 | |
| 31-03-2021 | micro format | 29-10-2021 | 2021-75500165 | |
| 31-03-2020 | micro format | 25-11-2020 | 2020-71900085 | |
| 31-03-2019 | abbreviated format | 16-09-2019 | 2019-64500177 | |
| 31-03-2018 | abbreviated format | 26-06-2018 | 2018-24800336 | |
| 31-03-2017 | abbreviated format | 14-09-2017 | 2017-61100026 | |
| 31-03-2016 | abbreviated format | 19-09-2016 | 2016-60300560 |