Result
€19,274 €19,274
Back in profit in 2025, after a loss of €63,379 in 2024.
MNS
Lifetime
19 annual accounts with figures on one time axis, 21 filings since 2004peak €376,893 (2014)
€298,138▲ 1.5%
lowest -€822,789 (2013)
€19,274▲ €82,653
peak €1.7m (2025)
€1.7m▲ €3.4m
€2.9m▼ 54.5%
peak 0.8 FTE (2013)
0 FTE
Board6 names since 2008
3 directorsLaureys Axelle and 2 others
Owners2 names in the annual accounts
Documentsfilings and deeds
24-06-202637 days before the deadline
2025financial year
Back to profit: €19,274Capital increase of €3,337,000 to €4,300,000 27-08Equity from -€1.7m to €1.7mDebts from €6.4m to €2.9mCash from €23,874 to €40,694
Key points
from the 2025 annual accountsChecked score
95
Excellent
Financially stronger than 59% of small companies in real estate (NACE 68)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
< 0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 6,995 companies (NACE 68, small).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.2%
01-2025: 0.2%● unchanged vs 12-2024
02-2025: 0.2%● unchanged vs 01-2025
03-2025: 0.2%● unchanged vs 02-2025
04-2025: 0.2%● unchanged vs 03-2025
05-2025: 0.3%▲ +0.1 percentage points vs 04-2025
06-2025: 0.3%● unchanged vs 05-2025
07-2025: 0.4%▲ +0.1 percentage points vs 06-2025highest value
08-2025: 0.2%▼ -0.2 percentage points vs 07-2025
09-2025: 0.2%● unchanged vs 08-2025
10-2025: 0.2%● unchanged vs 09-2025
11-2025: 0.2%● unchanged vs 10-2025
12-2025: 0.2%● unchanged vs 11-2025
01-2026: 0.2%● unchanged vs 12-2025
02-2026: 0.2%● unchanged vs 01-2026
03-2026: 0.2%● unchanged vs 02-2026
04-2026: 0.2%● unchanged vs 03-2026
05-2026: 0.2%● unchanged vs 04-2026
06-2026: 0.3%▲ +0.1 percentage points vs 05-2026
07-2026: < 0.1%▼ -0.3 percentage points vs 06-2026lowest value
08-2026: < 0.1%● unchanged vs 07-2026lowest value
09-2026: < 0.1%● unchanged vs 08-2026lowest value
10-2026: < 0.1%● unchanged vs 09-2026
11-2026: < 0.1%● unchanged vs 10-2026
Financial strengthAverage
Score breakdown
raises risk
Liquidity: current ratio 0.44, cash €40,694
lowers risk
Size: total assets €4.6m
Figures for financial year 2025 (filed on 24-06-2026)
Legal form: public limited company
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 68, small). It does better than 56% of them on solvency, 38% on liquidity, 47% on profitability and 96% on growth.
The bankruptcy probability was computed on 10-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 14,766 companies had the same profile as MNS has now. Each dot stands for 37 companies, two years later.
96.2%
were still trading
3.5%
stopped another way
0.2%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of MNS itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,448 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 14,766 companies, not a prediction for MNS. 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.
Credit verdict
Credit of up to €150,000 on 30-day terms is acceptable
Liquidity is insufficient, with a current ratio of 0.44 (0.17 in 2024), below 1. Short-term debt is 23.3% and cash 0.9% of total assets. 63.6% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
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 24-06-2026, 37 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
37 days early
2024
13 days early
2023
1 day early
2022
30 days late
2021
16 days early
2020
4 days early
2019
13 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 8 days before the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 25 July (3 of the last 4 accounts filed within 31 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
11-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
Recent changes
Capital increase of €3,337,000 to €4,300,000
Capital from €963,000 to €4,300,000, 3,337 new shares · General meeting of 19-08-2025 · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0862018808
New chair of the board and managing director
Philax Holding CommV appointed, Philax BV resigned · Permanent representative: Laureys Nicolas · Director discharge: Philax BV · General meeting of 11-09-2023 · Gazette deed
Amendment of the articles
Director in office: Philax (managing director) · General meeting of 13-12-2022 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| MNS Merksplas | €4.6m | €298,138 | 36.4% | 0 |
| D'AUSSY Torhout | €5.1m | €232,967 | 65.6% | 0 |
| VLIMMO - INVEST Antwerp | €3.9m | €353,308 | 46.1% | 0 |
| ALBES Hoogstraten | €4.2m | €472,656 | 14.1% | 0 |
| JULMACO Schilde | €6.0m | €190,550 | 94.0% | 0 |
| AMBASSODOR PROPERTIE'S Antwerp | €4.1m | €293,087 | 8.7% | 0 |
| IMMO R.J.S. Grez-Doiceau | €5.8m | €279,233 | 20.5% | 0 |
These companies have the same main activity as MNS: renting and operating of own or leased residential real estate, excluding social housing (NACE 68201). They are comparable in size and age: total assets between €3.9m and €6m, founded between 1991 and 2008.
Official details
Source: KBO- Status
- Active since 04-12-2003Normal situation
- Registered office
- 15 active companies are registered at this addressSource: KBO register, as of 11 November 2026.
- Activity
- Renting and operating of own or leased residential real estate, excluding social housingNACE 68201and 2 others
- Joint committee
- 323Building management, estate agents and domestic staff · annual accounts 30-12-2021
- Establishment unit
- 2.135.409.7652330 Merksplas, since 04-12-2003
- Financial year end
- 31 December
- Peppol
- Reachable since 21-05-2025
Annual accounts 2025
- €4.6m▼ 2.8%
- Filing
- Filed on 24-06-2026, 37 days before the end of the filing period
Insights on MNS
MNS has existed since 2003. In 2020 the gross margin rose from €65,114 to €296,388.
Solvency rose in 2025 from -35.7% to 36.4% because of the retained profit and a capital increase and lower debts.
PHILAX holds 66.67% of the shares. In December 2023, the Official Gazette published the appointment of Philax Holding as managing director.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about MNS
- What is the company number of MNS?
- The company number of MNS is 0862.018.808. The VAT number is the same number with BE in front: BE 0862.018.808.
- Where is MNS based?
- The registered office is at Veldenbergstraat 97, 2330 Merksplas.Company details
- What does MNS do?
- According to the KBO register, the main activity is renting and operating of own or leased residential real estate, excluding social housing (NACE 68201).
- What is the legal form of MNS?
- MNS is a public limited company (NV).
- When was MNS founded?
- MNS was founded on 04-12-2003.
- Is MNS still active?
- Yes, MNS is an active enterprise in the KBO register.
- How many employees does MNS have?
- MNS had an average of 0.7 full-time equivalents in financial year 2021, according to the filed annual accounts.Financials
- Which joint committee does MNS fall under?
- In its 30-12-2021 annual accounts, MNS states joint committee 323 (Building management, estate agents and domestic staff).
- What is the turnover of MNS?
- The turnover in financial year 2025 is ≈ €340,000. This figure is estimated from the gross margin of €298,138 and 38 comparable companies (NACE 68201). It probably lies between €300,000 and €370,000.
- Is MNS profitable?
- In financial year 2025, MNS made a profit of €19,274.
- Where can I find the annual accounts of MNS?
- MNS filed 21 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of MNS due?
- MNS must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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