MKK
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 10-06-2026 PDF all 33 filings
Equity
€410,177▼ 3.1%
2024 · €423,431
Total assets
€411,902▼ 3.3%
2024 · €426,022
Net result
-€13,254
2024 · €6,004
Working capital
€410,177▼ 3.1%
2024 · €423,431
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€16,807
2025
20182025
Net result
-€13,254
2025
lowest quarter of the sector
20182025
Equity
€410,177
▼ 3.1%
2025
middle half of the sector
20182025
Total assets
€411,902
▼ 3.3%
2025
lowest quarter of the sector
20182025
Debt
€1,725
▼ 33.5%
2025
20182025
Working capital
€410,177
▼ 3.1%
2025
middle half of the sector
20182025
Solvency
99.6%
▲ 0.2pp
2025
highest quarter of the sector
20182025
Current ratio
no figure
2025
20182025
Return on assets (ROA)
-3.2%
▼ 4.6pp
2025
lowest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€35,251--€32,045▲ 9.1%-€25,439▲ 20.6%-€8,063▲ 68.3%-€30,448▼ 278%-€22,185▲ 27.1%€2,104-€16,807
Net result-€21,893--€8,834▲ 59.6%€5,772within the sector's middle half-€6,121within the sector's middle half-€28,400below the sector's middle half▼ 364%-€17,793below the sector's middle half▲ 37.3%€6,004below the sector's middle half-€13,254below the sector's middle half
Equity€472,803-€463,969▼ 1.9%€469,741within the sector's middle half▲ 1.2%€463,620within the sector's middle half▼ 1.3%€435,220within the sector's middle half▼ 6.1%€417,427within the sector's middle half▼ 4.1%€423,431within the sector's middle half▲ 1.4%€410,177within the sector's middle half▼ 3.1%
Total assets€628,174-€628,837▲ 0.1%€470,532below the sector's middle half▼ 25.2%€469,969below the sector's middle half▼ 0.1%€436,429below the sector's middle half▼ 7.1%€419,352below the sector's middle half▼ 3.9%€426,022below the sector's middle half▲ 1.6%€411,902below the sector's middle half▼ 3.3%
Debt€155,371-€164,868▲ 6.1%€791▼ 99.5%€6,348▲ 702%€1,209▼ 81.0%€1,925▲ 59.2%€2,591▲ 34.6%€1,725▼ 33.5%
Working capital€298,787-€304,294▲ 1.8%€469,741above the sector's middle half▲ 54.4%€463,620within the sector's middle half▼ 1.3%€435,220within the sector's middle half▼ 6.1%€417,427within the sector's middle half▼ 4.1%€423,431within the sector's middle half▲ 1.4%€410,177within the sector's middle half▼ 3.1%
Solvency75.3%-73.8%▼ 1.5pp99.8%above the sector's middle half▲ 26.0pp98.6%above the sector's middle half▼ 1.2pp99.7%above the sector's middle half▲ 1.1pp99.5%above the sector's middle half▼ 0.2pp99.4%above the sector's middle half▼ 0.1pp99.6%above the sector's middle half▲ 0.2pp
Current ratio2.92-2.85▼ 0.0874.03above the sector's middle half
Return on assets (ROA)-3.5%--1.4%▲ 2.1pp1.2%within the sector's middle half▲ 2.6pp-1.3%within the sector's middle half▼ 2.5pp-6.5%below the sector's middle half▼ 5.2pp-4.2%below the sector's middle half▲ 2.3pp1.4%within the sector's middle half▲ 5.7pp-3.2%below the sector's middle half▼ 4.6pp
above
within
below
The sector band is the middle half of the companies in Crop and animal production, hunting and related service activities (NACE 01). 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 €16,807, after a profit of €2,104 in 2024.
Turnover and EBIT margin are not published. The abbreviated format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €411,902
Equity
€410,177 ▼ 3.1%
Debt
€1,725 ▼ 33.5%
Debt's share of the balance-sheet total falls from 0.6% to 0.4%. Equity and debt are lower.
Key figures and ratios
Debt to equity
0.00▼
2024 · 0.01
ROE
-3.2%▼
2024 · 1.4%
Debt ≤ 1 year
€1,725▼
2024 · €2,591
A ratio outside any meaningful range has been withheld (balance sheet total €411,902, equity €410,177).
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €0 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €14,341 | €14,341 | €0 | - | - | - | - | - | - |
| Other operating charges640/8 | - | - | - | €539 | €590 | €583 | €595 | €610 | ▲ 2.4% |
| Gross operating margin9900 | -€19,309 | -€15,932 | -€24,133 | -€7,524 | -€29,858 | -€21,601 | €2,699 | -€16,197 | - |
| Operating profit (loss)9901 | -€35,251 | -€32,045 | -€25,439 | -€8,063 | -€30,448 | -€22,185 | €2,104 | -€16,807 | - |
| Financial income75/76B | - | - | - | €1,979 | €2,086 | €4,431 | €3,944 | €3,593 | ▼ 8.9% |
| Recurring financial income75 | €25,527 | €17,232 | €43,782 | €1,979 | €2,086 | €4,431 | €3,944 | €3,593 | ▼ 8.9% |
| Financial charges65/66B | - | - | - | €37 | €39 | €39 | €44 | €40 | ▼ 7.4% |
| Recurring financial charges65 | €12,169 | -€5,979 | €12,571 | €37 | €39 | €39 | €44 | €40 | ▼ 7.4% |
| Profit (loss) for the period before taxes9903 | -€21,893 | -€8,834 | €5,772 | -€6,121 | -€28,400 | -€17,793 | €6,004 | -€13,254 | - |
| Profit (loss) for the period9904 | -€21,893 | -€8,834 | €5,772 | -€6,121 | -€28,400 | -€17,793 | €6,004 | -€13,254 | - |
| Profit (loss) for the period to be appropriated9905 | -€21,893 | -€8,834 | €5,772 | -€6,121 | -€28,400 | -€17,793 | €6,004 | -€13,254 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €628,174 | €628,837 | €470,532 | €469,969 | €436,429 | €419,352 | €426,022 | €411,902 | ▼ 3.3% |
| Fixed assets21/28 | €174,016 | €159,675 | €0 | - | - | - | - | - | - |
| Tangible fixed assets22/27 | €174,016 | €159,675 | €0 | - | - | - | - | - | - |
| Current assets29/58 | €454,158 | €469,162 | €470,532 | €469,969 | €436,429 | €419,352 | €426,022 | €411,902 | ▼ 3.3% |
| Stocks and contracts in progress3 | €150,000 | €198,000 | €198,000 | €175,000 | €125,000 | €100,000 | €110,000 | €110,000 | = |
| Stocks30/36 | - | - | - | €175,000 | €125,000 | €100,000 | €110,000 | €110,000 | = |
| Amounts receivable within one year40/41 | €4,188 | €3,180 | €2,701 | €0 | €567 | €0 | €1,106 | €1,100 | ▼ 0.5% |
| Other amounts receivable41 | - | - | - | €0 | €567 | €0 | €1,106 | €1,100 | ▼ 0.5% |
| Current investments50/53 | €194,461 | €250,556 | €234,528 | €234,528 | €234,528 | €234,528 | €234,528 | €234,528 | = |
| Cash at bank and in hand54/58 | €105,328 | €17,268 | €35,303 | €60,441 | €76,334 | €84,825 | €80,389 | €66,274 | ▼ 17.6% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €628,174 | €628,837 | €470,532 | €469,969 | €436,429 | €419,352 | €426,022 | €411,902 | ▼ 3.3% |
| Equity10/15 | €472,803 | €463,969 | €469,741 | €463,620 | €435,220 | €417,427 | €423,431 | €410,177 | ▼ 3.1% |
| Contributions10/11 | €618,592 | €618,592 | - | €618,592 | €618,592 | €618,592 | €618,592 | €618,592 | = |
| Reserves13 | €211 | €211 | €211 | €211 | €0 | - | - | - | - |
| Non-distributable reserves130/1 | - | - | - | €211 | €0 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €211 | €0 | - | - | - | - |
| Profit (loss) carried forward14 | -€146,000 | -€154,834 | -€149,062 | -€155,183 | -€183,372 | -€201,165 | -€195,161 | -€208,415 | ▼ 6.8% |
| Amounts payable17/49 | €155,371 | €164,868 | €791 | €6,348 | €1,209 | €1,925 | €2,591 | €1,725 | ▼ 33.5% |
| Amounts payable within one year42/48 | €155,371 | €164,868 | €791 | €6,348 | €1,209 | €1,925 | €2,591 | €1,725 | ▼ 33.5% |
| Trade debts44 | €1,780 | €1,466 | €791 | €0 | €1,209 | €167 | €2,591 | €1,725 | ▼ 33.5% |
| Suppliers440/4 | - | - | - | €0 | €1,209 | €167 | €2,591 | €1,725 | ▼ 33.5% |
| Taxes, remuneration and social security45 | - | - | - | €6,348 | €0 | €1,758 | €0 | - | - |
| Taxes450/3 | - | - | - | €6,348 | €0 | €1,758 | €0 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€21,893 | -€8,834 | €5,772 | -€6,121 | -€28,400 | -€17,793 | €6,004 | -€13,254 | - |
| + Depreciation and write-downs630 | €14,341 | €14,341 | €0 | - | - | - | - | - | - |
| Operating cash flow (approximation) | -€7,552 | €5,507 | €5,772 | -€6,121 | -€28,400 | -€17,793 | €6,004 | -€13,254 | - |
| Investment in fixed assets (approximation) | - | €0 | €159,675 | - | - | - | - | - | - |
| Change in cash | - | -€88,060 | €18,036 | €25,138 | €15,893 | €8,490 | -€4,436 | -€14,115 | ▼ 218% |
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, 12,322 companies had the same profile as MKK has now. Two years later, 90.3% were still going and 0.7% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
90.3%
was still going
8.6%
stopped otherwise
0.7%
went bankrupt
Another 0.5% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of MKK itself: < 0.1% 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 12,322 companies, not a prediction for MKK. 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 33 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 10-06-2026 | 2026-00149031 | |
| 31-12-2024 | abbreviated format | 26-06-2025 | 2025-00178676 | |
| 31-12-2023 | abbreviated format | 17-06-2024 | 2024-00133160 | |
| 31-12-2022 | abbreviated format | 13-06-2023 | 2023-00120849 | |
| 31-12-2021 | abbreviated format | 27-06-2022 | 2022-20092879 | |
| 31-12-2020 | abbreviated format | 15-06-2021 | 2021-19700143 | |
| 31-12-2019 | abbreviated format | 04-06-2020 | 2020-14400196 | |
| 31-12-2018 | abbreviated format | 24-06-2019 | 2019-20500112 | |
| 31-12-2017 | abbreviated format | 19-06-2018 | 2018-19400599 | |
| 31-12-2016 | abbreviated format | 07-08-2017 | 2017-41100459 |