MLAE
Annual accounts 2025
micro format, filed on 25-06-2026, 36 days before the deadlineTurnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €270,000. Estimated: probably between €200,000 and €340,000.
Balance sheet
balance sheet total €918,975 on 31-12-2025in euro
in euro
Position in the sector
6.0%
Higher than 12% of 11,794 companies in 2025.
0.43
Higher than 6% of 11,521 companies in 2025.
5.6%
Higher than 36% of 11,605 companies in 2025.
Net result: top quarter · Equity: middle half · Balance sheet total: top quarter · Working capital: bottom quarter
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||
20/58 |
918,975 | 965,491 | 1.1m | 167,724 | 81,030 | |
21/28 |
892,022 | 931,223 | 1.0m | 42,710 | 2,031 | |
22/27 |
892,007 | 931,208 | 1.0m | 42,695 | 2,031 | |
22 |
858,173 | 880,801 | 961,940 | - | - | |
23 |
19,313 | 27,269 | 35,225 | 536 | 2,031 | |
24 |
14,522 | 23,138 | 32,649 | 42,160 | - | |
28 |
15 | 15 | 15 | 15 | - | |
29/58 |
26,953 | 34,268 | 31,256 | 125,014 | 78,999 | |
40/41 |
13,453 | 13,190 | 0 | 14,433 | 9,900 | |
40 |
13,453 | 13,190 | 0 | 14,433 | - | |
41 |
- | - | - | - | 9,900 | |
54/58 |
8,730 | 17,913 | 29,243 | 107,195 | 67,542 | |
490/1 |
4,770 | 3,165 | 2,012 | 3,386 | 1,558 | |
| Balance sheet: equity and liabilities | ||||||
10/49 |
918,975 | 965,491 | 1.1m | 167,724 | 81,030 | |
10/15 |
54,766 | 12,862 | 62,684 | 94,423 | 56,221 | |
10/11 |
3,000 | 3,000 | 3,000 | 3,000 | 3,000 | |
10 |
- | - | - | 3,000 | 3,000 | |
100 |
- | - | - | 3,000 | 3,000 | |
13 |
51,766 | 300 | 300 | 300 | 300 | |
130/1 |
- | - | 0 | 300 | 300 | |
130 |
- | - | - | 300 | 300 | |
1311 |
- | - | 0 | - | - | |
133 |
51,766 | 300 | 300 | - | - | |
14 |
0 | 9,562 | 59,384 | 91,123 | 52,921 | |
17/49 |
864,210 | 952,629 | 998,401 | 73,301 | 24,810 | |
17 |
799,258 | 857,959 | 940,368 | 29,795 | - | |
170/4 |
799,258 | 857,959 | 940,368 | 29,795 | - | |
42/48 |
62,891 | 90,647 | 58,032 | 43,506 | 24,810 | |
42 |
43,702 | 42,409 | 41,157 | 8,403 | - | |
44 |
3,004 | 7,076 | 766 | 1,912 | 556 | |
440/4 |
3,004 | 7,076 | 766 | 1,912 | 556 | |
45 |
8,626 | 9,364 | 14,532 | 33,041 | 23,690 | |
450/3 |
8,626 | 9,364 | 11,682 | 33,041 | 23,690 | |
454/9 |
- | 0 | 2,850 | - | - | |
47/48 |
7,560 | 31,798 | 1,577 | 150 | 564 | |
492/3 |
2,061 | 4,022 | - | - | - | |
| Income statement | ||||||
9900 |
131,379 | 128,294 | 63,965 | 56,676 | 70,853 | |
630 |
42,225 | 100,308 | 77,462 | 6,889 | 2,206 | |
640/8 |
5,595 | 4,771 | 3,334 | 410 | 807 | |
9901 |
83,559 | 23,215 | -16,832 | 49,378 | 67,840 | |
75/76B |
0 | 14 | 140 | - | - | |
75 |
0 | 14 | 140 | - | - | |
65/66B |
28,657 | 32,908 | 14,894 | 549 | 55 | |
65 |
28,657 | 32,908 | 14,894 | 549 | 55 | |
9903 |
54,902 | -9,679 | -31,587 | 48,829 | 67,785 | |
67/77 |
3,136 | 142 | 153 | 10,626 | 14,564 | |
9904 |
51,766 | -9,821 | -31,739 | 38,203 | 53,221 | |
9905 |
51,766 | -9,821 | -31,739 | 38,203 | 53,221 | |
| Appropriation of the result | ||||||
9906 |
61,328 | 49,562 | 59,384 | 91,123 | 53,221 | |
14P |
9,562 | 59,384 | 91,123 | 52,921 | - | |
791/2 |
300 | - | - | - | - | |
691/2 |
51,766 | - | - | - | 300 | |
6920 |
- | - | - | - | 300 | |
6921 |
51,766 | - | - | - | - | |
694/7 |
9,862 | 40,000 | - | - | - | |
694 |
9,862 | 40,000 | - | - | - | |
| Document | ||||||
The notes to these accounts have 15 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 25-06-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 25-06-2026 | 2026-00217697 | |
| 31-12-2024 | micro format | 30-06-2025 | 2025-00197323 | |
| 31-12-2023 | micro format | 05-07-2024 | 2024-00211583 | |
| 31-12-2022 | micro format | 26-08-2023 | 2023-00356717 | |
| 31-12-2021 | micro format | 03-08-2022 | 2022-20265907 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| 125,784 | 123,523 | 60,630 | 56,267 | 70,046 | ||
| 93,990 | 90,486 | 45,723 | 45,092 | 55,426 | ||
| 3,024 | 1,702 | 1.1m | 47,568 | 4,237 | ||
| -9,183 | -11,331 | -77,952 | 39,654 | - | ||
| -35,938 | -56,379 | -26,777 | 81,508 | 54,190 | ||
| 6.0% | 1.3% | 5.9% | 56.3% | 69.4% | ||
| 0.43 | 0.38 | 0.54 | 2.87 | 3.18 | ||
| 15.78 | 74.06 | 15.93 | 0.78 | 0.44 | ||
| 94.5% | -76.4% | -50.6% | 40.5% | 94.7% | ||
| 5.6% | -1.0% | -3.0% | 22.8% | 65.7% | ||
| 4.39 | 3.75 | 4.07 | over 100 | over 100 |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Securities and guarantees
on own assets and for others| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Carrying value of the mortgaged assets | €854,780 | €879,180 | €903,580 | - | - |
| Carrying value of the other pledged assets | €13,628 | €23,138 | €32,649 | €42,160 | - |
| - | - | - | €42,160 | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €3,024 | €1,702 | €1.1m | €47,553 | €4,237 |
| Financial fixed assets | €0 | - | - | €15 | - |
| €42,225 | €100,308 | €77,462 | €6,889 | €2,206 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Insights on MLAE
The operating result for 2025 is 3.6 times that of 2024 and the highest since 2021. It is the second rise in a row, after the fall in 2023.
Debt's share of the balance-sheet total falls from 98.7% to 94.0%. Equity is higher and debt is lower.