MOBCO
ActiveFinancials · financial year 2025, full format
2025 annual accounts filed 70 days after the deadline Filed on 9 October 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00557481.
Annual accounts 2025 filed on 09-10-2026 at the NBB all 15 filings
Turnover
€13.7m▼ 17.1%
2024 · €16.5m
EBIT margin
3.7%▲ 3.6pp
2024 · 0.1%
Net result
€471,716
2024 · -€6,297
Working capital
€4.1m▼ 6.0%
2024 · €4.3m
In the rankings
#3 company by total assets in Dilbeek, Telecoms and IT sector#3 company by equity in Dilbeek, Telecoms and IT sector
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
€13.7m
▼ 17.1%
2025
20182025
Operating result
€499,495
▲ 38×
2025
20182025
Net result
€471,716
2025
highest quarter of the sector
20182025
EBIT margin
3.7%
▲ 3.6pp
2025
20182025
Equity
€1.5m
▲ 44.8%
2025
middle half of the sector
20182025
Total assets
€10.2m
▲ 13.1%
2025
highest quarter of the sector
20182025
Debt
€8.7m
▲ 8.9%
2025
20182025
Working capital
€4.1m
▼ 6.0%
2025
highest quarter of the sector
20182025
Solvency
15.0%
▲ 3.3pp
2025
middle half of the sector
20182025
Current ratio
1.74
▼ 0.47
2025
middle half of the sector
20182025
Return on assets (ROA)
4.6%
▲ 4.7pp
2025
middle half of the sector
20182025
Staff (FTE)
19.5
▼ 5.8%
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€12.5m€16.5m▲ 32.1%€13.7m▼ 17.1%
Operating result€0.5m-€0.3m▼ 38.3%€0.6m▲ 81.2%€0.5m▼ 2.7%€0.4m▼ 16.8%-€0.6m€0.01m€0.5m▲ 38×
Net result€0.3m-€0.2m▼ 45.5%€0.4mabove the sector's middle half▲ 131%€0.4mabove the sector's middle half▼ 4.4%€0.4mabove the sector's middle half▼ 8.6%-€0.6mbelow the sector's middle half-€0.006mbelow the sector's middle half▲ 98.9%€0.5mabove the sector's middle half
EBIT margin-4.9%0.1%▲ 5.0pp3.7%▲ 3.6pp
Equity€0.9m-€1.1m▲ 20.6%€1.1mabove the sector's middle half=€1.3mabove the sector's middle half▲ 17.5%€1.6mabove the sector's middle half▲ 29.8%€1.1mwithin the sector's middle half▼ 35.1%€1.1mwithin the sector's middle half▼ 0.6%€1.5mwithin the sector's middle half▲ 44.8%
Total assets€4.2m-€5.1m▲ 21.7%€5.3mabove the sector's middle half▲ 4.3%€6.0mabove the sector's middle half▲ 13.6%€6.9mabove the sector's middle half▲ 14.6%€5.6mabove the sector's middle half▼ 18.8%€9.0mabove the sector's middle half▲ 60.2%€10.2mabove the sector's middle half▲ 13.1%
Debt€3.3m-€4.0m▲ 22.0%€4.2m▲ 5.4%€4.8m▲ 12.6%€5.3m▲ 10.6%€4.6m▼ 13.8%€7.9m▲ 74.3%€8.7m▲ 8.9%
Working capital€2.5m-€3.0m▲ 19.5%€3.3mabove the sector's middle half▲ 11.0%€3.4mabove the sector's middle half▲ 2.6%€3.0mabove the sector's middle half▼ 9.9%€2.0mabove the sector's middle half▼ 33.2%€4.3mabove the sector's middle half▲ 114%€4.1mabove the sector's middle half▼ 6.0%
Solvency21.2%-21.0%▼ 0.2pp20.1%within the sector's middle half▼ 0.9pp20.8%within the sector's middle half▲ 0.7pp23.6%within the sector's middle half▲ 2.8pp18.8%within the sector's middle half▼ 4.7pp11.7%below the sector's middle half▼ 7.1pp15.0%within the sector's middle half▲ 3.3pp
Current ratio2.77-2.60▼ 0.172.94within the sector's middle half▲ 0.342.64within the sector's middle half▼ 0.302.08within the sector's middle half▼ 0.561.93within the sector's middle half▼ 0.152.21within the sector's middle half▲ 0.281.74within the sector's middle half▼ 0.47
Return on assets (ROA)8.0%-3.6%▼ 4.4pp7.9%within the sector's middle half▲ 4.4pp6.7%within the sector's middle half▼ 1.3pp5.3%within the sector's middle half▼ 1.4pp-10.2%below the sector's middle half▼ 15.5pp-0.1%below the sector's middle half▲ 10.1pp4.6%within the sector's middle half▲ 4.7pp
Staff (FTE)15.2-17.9▲ 17.8%16.1above the sector's middle half▼ 10.1%18.6above the sector's middle half▲ 15.5%19.9above the sector's middle half▲ 7.0%22.2within the sector's middle half▲ 11.6%20.7within the sector's middle half▼ 6.8%19.5within the sector's middle half▼ 5.8%
above
within
below
The sector band is the middle half of the companies in Computer programming, consultancy and related activities (NACE 62). 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 38 times that of 2024. It is the second rise in a row, after the fall in 2023.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €10.2m
Fixed assets
€573,955 ▼ 47.1%
Current assets
€9.6m ▲ 21.3%
Equity and liabilities €10.2m
Equity
€1.5m ▲ 44.8%
Debt
€8.7m ▲ 8.9%
Debt's share of the balance-sheet total falls from 88.3% to 85.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€1.2m▲
2024 · €809,801
Cash flow
€1.1m▲
2024 · €790,315
Quick ratio
1.74▼
2024 · 2.21
Debt to equity
5.68▼
2024 · 7.55
ROE
30.9%▲
2024 · -0.6%
Interest coverage
68.47▲
2024 · 46.77
Debt ≤ 1 year
€5.5m▲
2024 · €3.6m
Income taxes
€10,759▲
2024 · €3,649
Customer credit
166 days▲
2024 · 67 days
Supplier credit
168 days▲
2024 · 85 days
Staff costs
€2.2m▼
2024 · €2.3m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 20 | 21 | 21 | 21 | 19 |
| full-time | 17 | 19 | 17 | 17 | 15 |
| part-time | 3 | 2 | 4 | 4 | 4 |
| in full-time equivalents | 19.6 | 20.7 | 20.4 | 20.4 | 18.2 |
| Average over the year, in full-time equivalents | 18.6 | 19.9 | 22.2 | 20.7 | 19.5 |
| On a permanent contract | 20 | 21 | 21 | 21 | 19 |
| Joined | 4 | 6 | 4 | 1 | 3 |
| Left | 0 | 5 | 4 | 1 | 5 |
| Training hours | 8 | - | - | - | - |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €20,098 | €11,201 | €22,003 | - | - |
| Intangible fixed assets | €460,012 | €844,081 | €959,306 | €465,584 | €140,765 |
| Financial fixed assets | €39,900 | - | - | - | - |
| Depreciation and write-downs of the year | €231,083 | €386,284 | €653,867 | €796,611 | €650,835 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Auditor
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Fee for the audit | - | - | €26,852 | €24,500 | €26,000 |
Source: notes to the 2021 to 2025 annual accounts (relations with the auditor)
Subsidies and aid
Flemish government
2022 to 2025 · 5 entries · €41,080 awarded · €41,080 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €10,071 | €10,071 |
| 2024 | 1 | €9,723 | €9,723 |
| 2023 | 1 | €9,338 | €9,338 |
| 2022 | 2 | €11,948 | €11,948 |
Public contracts
4 awards · 2023
TABLETTES ET SMARTPHONES 2023-2024: Equipements iOS
TABLETTES ET SMARTPHONES 2023-2024: Equipements Android
TABLETTES ET SMARTPHONES 2023-2024: Equipements iOS
TABLETTES ET SMARTPHONES 2023-2024: Equipements Android
Source: TED (Tenders Electronic Daily), Publications Office of the European Union. The values are as the buyer published them. For a framework agreement, the value is a ceiling.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | - | - | €13.0m | €16.8m | €13.8m | ▼ 17.8% |
| Turnover70 | - | - | - | - | - | €12.5m | €16.5m | €13.7m | ▼ 17.1% |
| Own construction capitalised72 | - | - | - | - | - | €0.5m | €0.3m | €0.1m | ▼ 60.1% |
| Other operating income74 | - | - | - | - | - | €0.06m | €0.07m | €0.07m | ▼ 6.2% |
| Operating charges60/66A | - | - | - | - | - | €13.6m | €16.8m | €13.3m | ▼ 20.7% |
| Goods for resale, raw materials and consumables60 | - | - | - | - | - | €9.6m | €12.7m | €9.1m | ▼ 28.5% |
| Purchases600/8 | - | - | - | - | - | €9.6m | €12.7m | €9.1m | ▼ 28.5% |
| Change in stocks: decrease (increase)609 | - | - | - | - | - | -€393 | €0.006m | €0.005m | ▼ 17.0% |
| Services and other goods61 | - | - | - | - | - | €1.1m | €1.1m | €1.4m | ▲ 29.9% |
| Remuneration, social security and pensions62 | - | - | - | €1.5m | €1.7m | €2.2m | €2.3m | €2.2m | ▼ 1.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.2m | €0.2m | €0.2m | €0.2m | €0.4m | €0.7m | €0.8m | €0.7m | ▼ 18.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €0 | - | - | - | - | - |
| Other operating charges640/8 | - | - | - | €0.006m | €0.006m | €0.006m | €0.001m | €0.002m | ▲ 84.6% |
| Non-recurring operating charges66A | - | - | - | €0.01m | €0 | - | - | - | - |
| Gross operating margin9900 | €1.7m | €2.0m | €2.1m | €2.3m | €2.5m | - | - | - | - |
| Operating profit (loss)9901 | €0.5m | €0.3m | €0.6m | €0.5m | €0.4m | -€0.6m | €0.01m | €0.5m | ▲ 38× |
| Financial income75/76B | - | - | - | €0.01m | €0.03m | €0.06m | €0.03m | €0.02m | ▼ 40.7% |
| Recurring financial income75 | €0.02m | €0.006m | €0.04m | €0.01m | €0.03m | €0.003m | €0.03m | €0.02m | ▼ 40.7% |
| Income from current assets751 | - | - | - | - | - | €0.001m | €0.007m | €0.005m | ▼ 33.8% |
| Other financial income752/9 | - | - | - | - | - | €0.002m | €0.02m | €0.01m | ▼ 43.2% |
| Non-recurring financial income76B | - | - | - | - | - | €0.06m | €0 | - | - |
| Financial charges65/66B | - | - | - | €0.02m | €0.03m | €0.02m | €0.04m | €0.03m | ▼ 22.6% |
| Recurring financial charges65 | €0.02m | €0.01m | €0.02m | €0.02m | €0.03m | €0.02m | €0.04m | €0.03m | ▼ 22.6% |
| Debt charges650 | - | - | - | - | - | €0.01m | €0.02m | €0.02m | ▼ 3.0% |
| Other financial charges652/9 | - | - | - | - | - | €0.005m | €0.02m | €0.02m | ▼ 36.3% |
| Profit (loss) for the period before taxes9903 | €0.5m | €0.3m | €0.6m | €0.5m | €0.4m | -€0.6m | -€0.003m | €0.5m | - |
| Income taxes67/77 | €0.2m | €0.1m | €0.1m | €0.1m | €0.08m | €0.004m | €0.004m | €0.01m | ▲ 195% |
| Taxes670/3 | - | - | - | - | - | €0.004m | €0.004m | €0.01m | ▲ 195% |
| Profit (loss) for the period9904 | €0.3m | €0.2m | €0.4m | €0.4m | €0.4m | -€0.6m | -€0.006m | €0.5m | - |
| Profit (loss) for the period to be appropriated9905 | €0.3m | €0.2m | €0.4m | €0.4m | €0.4m | -€0.6m | -€0.006m | €0.5m | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €4.2m | €5.1m | €5.3m | €6.0m | €6.9m | €5.6m | €9.0m | €10.2m | ▲ 13.1% |
| Formation expenses20 | €0 | - | - | - | - | - | - | - | - |
| Fixed assets21/28 | €0.3m | €0.3m | €0.3m | €0.6m | €1.1m | €1.4m | €1.1m | €0.6m | ▼ 47.1% |
| Intangible fixed assets21 | €0.01m | €0.05m | €0.2m | €0.5m | €1.0m | €1.3m | €1.0m | €0.5m | ▼ 49.9% |
| Tangible fixed assets22/27 | €0.3m | €0.2m | €0.1m | €0.05m | €0.03m | €0.03m | €0.02m | €0.006m | ▼ 61.7% |
| Plant, machinery and equipment23 | - | - | - | €0.02m | €0.02m | €0.02m | €0.01m | €0.002m | ▼ 79.7% |
| Furniture and vehicles24 | - | - | - | €0.02m | €0.002m | €0.001m | €236 | €0 | ▼ 100% |
| Other tangible fixed assets26 | - | - | - | €0.01m | €0.01m | €0.009m | €0.006m | €0.004m | ▼ 32.0% |
| Financial fixed assets28 | €0.003m | €0.003m | €0.01m | €0.05m | €0.05m | €0.06m | €0.06m | €0.06m | = |
| Other financial fixed assets284/8 | - | - | - | - | - | €0.06m | €0.06m | €0.06m | = |
| Amounts receivable and cash guarantees285/8 | - | - | - | - | - | €0.06m | €0.06m | €0.06m | = |
| Current assets29/58 | €3.9m | €4.8m | €5.0m | €5.4m | €5.8m | €4.2m | €7.9m | €9.6m | ▲ 21.3% |
| Stocks and contracts in progress3 | €0.005m | €0.001m | €0.009m | €0.01m | €0.02m | €0.02m | €0.01m | €0.005m | ▼ 49.2% |
| Stocks30/36 | - | - | - | €0.01m | €0.02m | €0.02m | €0.01m | €0.005m | ▼ 49.2% |
| Goods purchased for resale34 | - | - | - | - | - | €0.02m | €0.01m | €0.005m | ▼ 49.2% |
| Amounts receivable within one year40/41 | €2.0m | €2.1m | €2.3m | €3.1m | €3.3m | €2.4m | €3.7m | €6.8m | ▲ 86.5% |
| Trade receivables40 | - | - | - | €3.0m | €3.3m | €2.3m | €3.0m | €6.2m | ▲ 104% |
| Other amounts receivable41 | - | - | - | €0.08m | €0.03m | €0.1m | €0.6m | €0.6m | ▲ 0.2% |
| Current investments50/53 | €0 | €0.001m | €0.001m | €0.001m | €0 | - | - | - | - |
| Cash at bank and in hand54/58 | €1.0m | €1.7m | €1.3m | €1.1m | €1.0m | €0.3m | €1.8m | €0.4m | ▼ 80.1% |
| Deferred charges and accrued income490/1 | - | - | - | €1.2m | €1.5m | €1.4m | €2.5m | €2.4m | ▼ 2.3% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €4.2m | €5.1m | €5.3m | €6.0m | €6.9m | €5.6m | €9.0m | €10.2m | ▲ 13.1% |
| Equity10/15 | €0.9m | €1.1m | €1.1m | €1.3m | €1.6m | €1.1m | €1.1m | €1.5m | ▲ 44.8% |
| Contributions10/11 | €0.01m | €0.01m | - | €0.01m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Reserves13 | €0.7m | €0.9m | €0.9m | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | = |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Reserves not available under the articles1311 | - | - | - | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Tax-exempt reserves132 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Distributable reserves133 | - | - | - | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | = |
| Profit (loss) carried forward14 | €0.2m | €0.2m | €0.2m | €0.6m | €1.0m | €0.4m | €0.4m | €0.9m | ▲ 120% |
| Provisions and deferred taxes16 | €0 | - | - | - | - | - | - | - | - |
| Amounts payable17/49 | €3.3m | €4.0m | €4.2m | €4.8m | €5.3m | €4.6m | €7.9m | €8.7m | ▲ 8.9% |
| Amounts payable after more than one year17 | €0.2m | €0.1m | €0.04m | €0.005m | €0 | - | - | - | - |
| Financial debts170/4 | - | - | - | €0.005m | €0 | - | - | - | - |
| Amounts payable within one year42/48 | €1.4m | €1.9m | €1.7m | €2.1m | €2.8m | €2.2m | €3.6m | €5.5m | ▲ 54.4% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.04m | €0.005m | €0 | - | - | - |
| Financial debts43 | - | - | - | - | - | - | €131 | €124 | ▼ 5.1% |
| Credit institutions430/8 | - | - | - | - | - | - | €131 | €0 | ▼ 100% |
| Other loans439 | - | - | - | - | - | - | - | €124 | - |
| Trade debts44 | €1.0m | €1.3m | €0.9m | €1.5m | €2.2m | €1.6m | €3.0m | €4.2m | ▲ 41.2% |
| Suppliers440/4 | - | - | - | €1.5m | €2.2m | €1.6m | €3.0m | €4.2m | ▲ 41.2% |
| Taxes, remuneration and social security45 | - | - | - | €0.5m | €0.6m | €0.5m | €0.5m | €1.1m | ▲ 131% |
| Taxes450/3 | - | - | - | €0.2m | €0.2m | €0.09m | €0.08m | €0.7m | ▲ 742% |
| Remuneration and social security454/9 | - | - | - | €0.3m | €0.3m | €0.4m | €0.4m | €0.4m | ▼ 4.3% |
| Other amounts payable47/48 | - | - | - | €0.009m | €0.02m | €0.07m | €0.2m | €0.3m | ▲ 75.8% |
| Accrued charges and deferred income492/3 | - | - | - | €2.7m | €2.5m | €2.4m | €4.4m | €3.1m | ▼ 28.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.3m | €0.2m | €0.4m | €0.4m | €0.4m | -€0.6m | -€0.006m | €0.5m | - |
| + Depreciation and write-downs630 | €0.2m | €0.2m | €0.2m | €0.2m | €0.4m | €0.7m | €0.8m | €0.7m | ▼ 18.3% |
| Operating cash flow (approximation) | €0.5m | €0.4m | €0.6m | €0.6m | €0.8m | €0.08m | €0.8m | €1.1m | ▲ 42.0% |
| Investment in fixed assets (approximation) | - | -€0.2m | -€0.2m | -€0.5m | -€0.9m | -€1.0m | -€0.5m | -€0.1m | ▲ 69.8% |
| Change in cash | - | €0.7m | -€0.4m | -€0.2m | -€0.2m | -€0.6m | €1.4m | -€1.4m | - |
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, 4,107 companies had the same profile as MOBCO has now. Two years later, 98.0% were still going and 1.0% had gone bankrupt.
- Small
- 10 to 20 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
98.0%
was still going
0.9%
stopped otherwise
1.0%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of MOBCO itself: 0.7% 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 4,107 companies, not a prediction for MOBCO. 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 15 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 09-10-2026 | 2026-00557481 | |
| 31-12-2024 | full format | 18-11-2025 | 2025-00569180 | |
| 31-12-2023 | full format | 02-07-2025 | 2025-00225634 | |
| 31-12-2022 | abbreviated format | 22-11-2023 | 2023-00514350 | |
| 31-12-2021 | abbreviated format | 15-07-2022 | 2022-20197782 | |
| 31-12-2020 | abbreviated format | 16-09-2021 | 2021-67400515 | |
| 31-12-2019 | abbreviated format | 29-10-2020 | 2020-65400311 | |
| 31-12-2018 | abbreviated format | 07-08-2019 | 2019-44600033 | |
| 31-12-2017 | abbreviated format | 23-07-2018 | 2018-36700449 | |
| 31-12-2016 | abbreviated format | 09-06-2017 | 2017-16200568 |