MMHA GROUP

Active

Private limited companyfounded 20214 yrs activeFransmanstraat 58, 1020 Brussel, BelgiumKBO/BCE: BE 0776.376.122

The computed 12-month bankruptcy probability of MMHA GROUP is 5.0% (elevated). The 2024 annual accounts show equity of €34k and a net result of €9k. Equity is growing by ~30% per year across the filed fiscal years. Its solvency ranks better than 71% of 26046 sector peers (fiscal year 2024). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.

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Checked score

Score 2024

59 / 100

Fair

The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. An elevated bankruptcy probability caps the score. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability89=

Solvency83▼-14

Growth52=

Track record94

Bankruptcy probability, 12 months

5.0% Elevated

0%0.5%1.5%4%10%≥ 25%

Credit up to €1.5k at 30 days only on tighter terms

Liquidity tight (current ratio 1.26 against 2.2 in 2023; short-term debt: 41.9% and cash: 12.2% of total assets), and 41.9% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Seven signals. The signal on the left, the evidence on the right.

+raises risk○neutral

Limited track record

This company has not been active as long as an established one and statistically fails somewhat more often.

KBO · incorporation date

Age against the risk zone

Higher-failure-rate region

In this region companies fail more often than in the rest of the country.

KBO · registered office

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

Sector 47

higher

← fewer bankruptcies more bankruptcies →

Multiple establishment units

Several establishment units mean more fixed costs, and such companies fail more often than a company with one establishment.

KBO · establishment units

Annual accounts: weaker financial profile

The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.

NBB · annual accounts 2024

Solvency, return and age of the figures

Solvency

58.1%

Return on assets

15.8%

Age of the figures

21 mo

Filed after the deadline

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 15-08-2025, 15 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 filings

Deviation from the deadline

2025

not confirmed

2024

15 d late

2023

83 d late

2022

32 d late

← before the deadline after the deadline →

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2024, micro schema

Equity

€34k▲ 37.4%

2023 · €25k

2022: €19k 2023: €25k

2022 → 2024

Total assets

€58k▲ 70.3%

2023 · €34k

2022: €37k 2023: €34k

2022 → 2024

Net result

€9k▲ 65.8%

2023 · €6k

2022: €15k 2023: €6k

2022 → 2024

Working capital

€6k▼ 45.1%

2023 · €11k

2022: €13k 2023: €11k

2022 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line202220232024Trend

Equity€19k-€25k▲ 29.1%€34k▲ 37.4%

Operating result€15k-€6k▼ 61.0%€9k▲ 62.2%

Net result€15k-€6k▼ 63.0%€9k▲ 65.8%

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 2024; 2024 is 62% above 2023.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €58k

47.2%

52.8%

Fixed assets €27k▲ 110%

Current assets €31k▲ 45.7%

Equity and liabilities €58k

58.1%

41.9%

Equity €34k▲ 37.4%

Debt €24k▲ 155%

The debt ratio rises from 28.0% to 41.9%. Equity and debt are higher.

Key figures and ratios

2024 value · change against 2023

EBITDA

€19k▲

2023 · €7k

Cash flow

€18k▲

2023 · €7k

Solvency

58.1%▼

2023 · 72.0%

Current ratio

1.26▼

2023 · 2.20

Quick ratio

1.22▼

2023 · 2.11

Debt / equity

0.72▲

2023 · 0.39

ROE

27.2%▲

2023 · 22.6%

ROA

15.8%▼

2023 · 16.3%

Interest coverage

90.49▲

2023 · 27.93

Debt

€24k▲

2023 · €10k

Debt ≤ 1 year

€24k▲

2023 · €10k

Staff costs

€43k▼

2023 · €72k

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 · 2024 against 2023

Balance sheet Code20232024

Assets

Total assets20/58€34k€58k▲

Fixed assets21/28€13k€27k▲

Tangible fixed assets22/27€13k€27k▲

Furniture and vehicles24€13k€9k▼

Other tangible fixed assets26-€19k

Current assets29/58€21k€31k▲

Stocks and contracts in progress3€890€890=

Stocks30/36€890€890=

Amounts receivable within one year40/41€10k€23k▲

Trade receivables40€8k€8k=

Other amounts receivable41€2k€14k▲

Cash at bank and in hand54/58€10k€7k▼

Equity and liabilities

Total equity and liabilities10/49€34k€58k▲

Equity10/15€25k€34k▲

Contributions10/11€4k€4k=

Profit (loss) carried forward14€20k€30k▲

Amounts payable17/49€10k€24k▲

Amounts payable within one year42/48€10k€24k▲

Trade debts44€3k€12k▲

Suppliers440/4€3k€12k▲

Taxes, remuneration and social security45€7k€13k▲

Taxes450/3€82€1k▲

Remuneration and social security454/9€7k€11k▲

Income statement Code20232024

Remuneration, social security and pensions62€72k€43k▼

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1k€9k▲

Other operating charges640/8€3k€4k▲

Gross operating margin9900€82k€66k▼

Operating profit (loss)9901€6k€9k▲

Financial charges65/66B€249€205▼

Recurring financial charges65€249€205▼

Profit (loss) for the period before taxes9903€6k€9k▲

Profit (loss) for the period9904€6k€9k▲

Profit (loss) for the period to be appropriated9905€6k€9k▲

Appropriation of the result

Profit (loss) to be appropriated9906€20k€30k▲

Profit (loss) brought forward from the previous period14P€15k€20k▲

The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 4Financial 1Filings 3

2025

15-08

NBB filing Annual accounts filed

fiscal year 2024 · micro schema · 15 days late

2024

22-10

NBB filing Annual accounts filed

fiscal year 2023 · micro schema · 83 days late

2023

31-12

Financial Weakest financial yearnet €6k ▼63%

Net result drops to €6k, the lowest in the series; recovery starts the following year.

01-09

NBB filing Annual accounts filed

fiscal year 2022 · micro schema · 32 days late

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

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, Brussel · 2 establishment units since 2021

establishment All 2 establishment units on the map

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.

Fransmanstraat 581020 Brussel

Ground area

198 m²

Building footprint

293 m²

Volume, LiDAR

3,342 m³

2 parcels, Brussels · tallest building 19.1 m, ±4 floors. Linked by address, not a title deed.

2 establishment units

MMHA GROUP

Fransmanstraat 58, 1020 BrusselRetail sale of bread and pastry (bakery outlets)

since 20212.323.944.311

GUEST

Picardstraat 86, 1080 Sint-Jans-MolenbeekFood and beverage service activities

since 20242.363.370.554

2 parcels

Brussels 2 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
21012A0132/02Z000	Brussels	113 m²	1 · 208 m²	19.1 m · 2 fl.
21816C0091/00W002	Brussels	85 m²	1 · 85 m²	15.0 m · 4 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.

Recognitions · licences · registrations

Food safety, FASFC

1 site

Brussel2.323.944.311

1 permission

Toelating · Detailhandel met verwerking · since 14-12-2022

Similar companies · same sector, comparable size

Houthalen-Helchteren · Eq €34k

Of 2,407 companies in sector 47241 we hold annual accounts for 1,100. 911 are within a factor 10 of this equity.See the whole sector

Company data · Crossroads Bank

Identification

Legal formPrivate limited company

Founded22-10-2021

Fiscal year end31-12

Activities, NACEBEL

47241Retail sale of bread and pastry (bakery outlets)

47252Retail sale of beverages, general range

Sources

Crossroads Bank for EnterprisesNational Bank · 3 filingsAddress and cadastre registers

Data from official sources, last processed on 22-09-2026. Scores and ratios are computed by Checked and are not a credit decision.