MONACA
ActiveSummary
MONACA has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €7,382 and a net result of €20,594. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 17% of 542 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability79▼-21
Solvency28▲+7
Growth52▲+14
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days acceptable
Liquidity ample (current ratio 3.83 against 6.55 in 2024; short-term debt: 14.2% and cash: 23.3% of total assets), but 97.2% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 90
Relative position
BE, all sectors
reference
Arts creation and performing arts activities (NACE 90)
about 58% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
2.8%
Return on assets
7.9%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 17% of 542 sector peers (2025).
NBB · sector comparisonPosition among 542 sector peers
Solvency
better than 17%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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 · 10 filingsDeviation from the deadline
2025
31 d late
2024
71 d late
2023
19 d early
2022
24 d early
2021
31 d late
2020
17 d late
2019
67 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 25 days after the deadline; the sector median for financial year 2024 is 4 days before the deadline, and 38% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Turnover
€48,750▼ 37.5%
2019 · €78,000
EBIT margin
270.7%▲ 282.1pp
2019 · -11.3%
Net result
€20,594▼ 73.0%
2024 · €76,176
Working capital
€104,919▼ 31.2%
2024 · €152,501
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 90, Arts creation and performing arts activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover
Operating result-€19,415-€161,062▼ 730%€15,477€89,210▲ 476%€33,312▼ 62.7%
Net result-€56,237below the sector's middle half-€169,586below the sector's middle half▼ 202%€12,982within the sector's middle half€76,176within the sector's middle half▲ 487%€20,594within the sector's middle half▼ 73.0%
EBIT margin
Equity€67,216within the sector's middle half▼ 45.6%-€102,370below the sector's middle half-€89,388below the sector's middle half▲ 12.7%-€13,212below the sector's middle half▲ 85.2%€7,382below the sector's middle half
Total assets€541,948within the sector's middle half▲ 10.0%€207,515below the sector's middle half▼ 61.7%€330,091within the sector's middle half▲ 59.1%€301,733within the sector's middle half▼ 8.6%€260,758within the sector's middle half▼ 13.6%
Debt€474,732▲ 28.5%€309,885▼ 34.7%€419,479▲ 35.4%€314,946▼ 24.9%€253,376▼ 19.5%
Working capital-€101,249below the sector's middle half▼ 304%-€132,483below the sector's middle half▼ 30.8%€172,629within the sector's middle half€152,501within the sector's middle half▼ 11.7%€104,919within the sector's middle half▼ 31.2%
Solvency12.4%below the sector's middle half▼ 12.6pp-49.3%below the sector's middle half▼ 61.7pp-27.1%below the sector's middle half▲ 22.3pp-4.4%below the sector's middle half▲ 22.7pp2.8%below the sector's middle half▲ 7.2pp
Current ratio0.79below the sector's middle half▼ 0.130.57below the sector's middle half▼ 0.217.03above the sector's middle half▲ 6.466.55above the sector's middle half▼ 0.483.83above the sector's middle half▼ 2.72
Return on assets (ROA)-10.4%below the sector's middle half▼ 35.4pp-81.7%below the sector's middle half▼ 71.3pp3.9%within the sector's middle half▲ 85.7pp25.2%above the sector's middle half▲ 21.3pp7.9%within the sector's middle half▼ 17.3pp
Staff (FTE)0below the sector's middle half0below the sector's middle half0below the sector's middle half
above
within
below
the middle half (P25 to P75) of NACE 90, Arts creation and performing arts activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 63% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €260,758
Fixed assets
€118,815 ▼ 2.4%
Current assets
€141,943 ▼ 21.1%
Equity and liabilities €260,758
Equity
€7,382
Debt
€253,376
Debt finances 97.2% of the balance-sheet total.
Key figures and ratios
EBITDA
€40,606▼
2024 · €95,757
Cash flow
€27,888▼
2024 · €82,722
Debt to equity
34.33▲
2024 · -23.84
ROE
279.0%
Interest coverage
8.33▼
2024 · 13.55
Debt ≤ 1 year
€37,024▲
2024 · €27,476
Debt > 1 year
€216,353▼
2024 · €287,128
Income taxes
€7,841▲
2024 · €5,966
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,324 companies that looked in July 2024 the way this one looks now, 1.3% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency under 10%
- a profit of 5% of the balance sheet or more
1.3%
went bankrupt
3.1%
stopped otherwise
95%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 1,324 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €211 | €14,423 | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €12,372 | €4,466 | €5,881 | €6,547 | €7,294 | ▲ 11.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €41,322 | €0 | -€41,322 | €0 | ▲ 100% |
| Other operating charges640/8 | €5,516 | €1,422 | €1,804 | €1,643 | €1,466 | ▼ 10.7% |
| Non-recurring operating charges66A | - | €94,008 | €12,837 | €1,198 | €0 | ▼ 100% |
| Gross operating margin9900 | -€1,527 | -€19,844 | €36,000 | €57,276 | €42,072 | ▼ 26.5% |
| Operating profit (loss)9901 | -€19,415 | -€161,062 | €15,477 | €89,210 | €33,312 | ▼ 62.7% |
| Financial income75/76B | €3,292 | €0 | €11 | €0 | - | - |
| Recurring financial income75 | €3,292 | €0 | €11 | €0 | - | - |
| Financial charges65/66B | €1,529 | €8,209 | €2,506 | €7,068 | €4,877 | ▼ 31.0% |
| Recurring financial charges65 | €1,529 | €1,990 | €2,506 | €7,068 | €4,877 | ▼ 31.0% |
| Non-recurring financial charges66B | - | €6,220 | €0 | - | - | - |
| Profit (loss) for the period before taxes9903 | -€17,652 | -€169,271 | €12,982 | €82,142 | €28,435 | ▼ 65.4% |
| Income taxes67/77 | €38,585 | €315 | €0 | €5,966 | €7,841 | ▲ 31.4% |
| Profit (loss) for the period9904 | -€56,237 | -€169,586 | €12,982 | €76,176 | €20,594 | ▼ 73.0% |
| Profit (loss) for the period to be appropriated9905 | -€56,237 | -€169,586 | €12,982 | €76,176 | €20,594 | ▼ 73.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €541,948 | €207,515 | €330,091 | €301,733 | €260,758 | ▼ 13.6% |
| Fixed assets21/28 | €168,465 | €30,113 | €128,844 | €121,756 | €118,815 | ▼ 2.4% |
| Tangible fixed assets22/27 | €68,219 | €30,113 | €128,844 | €121,756 | €118,815 | ▼ 2.4% |
| Land and buildings22 | - | - | €31,125 | €31,125 | €31,125 | = |
| Plant, machinery and equipment23 | €15,972 | €12,484 | €9,750 | €6,145 | €2,924 | ▼ 52.4% |
| Furniture and vehicles24 | €41,909 | €8,729 | €3,903 | €2,709 | €5,280 | ▲ 94.9% |
| Other tangible fixed assets26 | €10,337 | €8,900 | €84,066 | €81,776 | €79,486 | ▼ 2.8% |
| Financial fixed assets28 | €100,247 | €0 | - | - | - | - |
| Current assets29/58 | €373,483 | €177,402 | €201,247 | €179,978 | €141,943 | ▼ 21.1% |
| Amounts receivable within one year40/41 | €344,102 | €164,145 | €188,479 | €165,690 | €81,311 | ▼ 50.9% |
| Trade receivables40 | €105,003 | €21,345 | €13,494 | €1,047 | €6,794 | ▲ 549% |
| Other amounts receivable41 | €239,099 | €142,800 | €174,984 | €164,643 | €74,517 | ▼ 54.7% |
| Cash at bank and in hand54/58 | €29,380 | €13,039 | €10,485 | €13,097 | €60,631 | ▲ 363% |
| Deferred charges and accrued income490/1 | - | €218 | €2,283 | €1,191 | €0 | ▼ 100% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €541,948 | €207,515 | €330,091 | €301,733 | €260,758 | ▼ 13.6% |
| Equity10/15 | €67,216 | -€102,370 | -€89,388 | -€13,212 | €7,382 | ▲ 156% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Profit (loss) carried forward14 | €48,616 | -€120,970 | -€107,988 | -€31,812 | -€11,218 | ▲ 64.7% |
| Amounts payable17/49 | €474,732 | €309,885 | €419,479 | €314,946 | €253,376 | ▼ 19.5% |
| Amounts payable after more than one year17 | €0 | - | €390,862 | €287,128 | €216,353 | ▼ 24.6% |
| Financial debts170/4 | - | - | €390,862 | €287,128 | €216,353 | ▼ 24.6% |
| Trade debts175 | €0 | - | - | - | - | - |
| Amounts payable within one year42/48 | €474,732 | €309,885 | €28,617 | €27,476 | €37,024 | ▲ 34.7% |
| Current portion of amounts payable after more than one year42 | - | - | €12,478 | €13,034 | €13,601 | ▲ 4.3% |
| Financial debts43 | €370 | €18 | €18 | €20 | €71 | ▲ 255% |
| Credit institutions430/8 | €370 | €18 | €18 | €20 | €71 | ▲ 255% |
| Trade debts44 | €13,972 | €4,956 | €5,132 | €345 | €3,098 | ▲ 797% |
| Suppliers440/4 | €13,972 | €4,956 | €5,132 | €345 | €3,098 | ▲ 797% |
| Advances received on contracts in progress46 | - | - | €162 | €0 | - | - |
| Taxes, remuneration and social security45 | €41,960 | €1,129 | €630 | €3,974 | €10,151 | ▲ 155% |
| Taxes450/3 | €41,960 | €1,129 | €630 | €3,974 | €10,151 | ▲ 155% |
| Remuneration and social security454/9 | €0 | - | - | - | - | - |
| Other amounts payable47/48 | €418,430 | €303,782 | €10,197 | €10,103 | €10,103 | = |
| Accrued charges and deferred income492/3 | - | - | - | €342 | €0 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€56,237 | -€169,586 | €12,982 | €76,176 | €20,594 | ▼ 73.0% |
| + Depreciation and write-downs630 | €12,372 | €4,466 | €5,881 | €6,547 | €7,294 | ▲ 11.4% |
| Operating cash flow (approximation) | -€43,865 | -€165,121 | €18,864 | €82,722 | €27,888 | ▼ 66.3% |
| Investment in fixed assets (approximation) | - | €133,886 | -€104,612 | €542 | -€4,353 | ▼ 904% |
| Change in cash | - | -€16,342 | -€2,553 | €2,612 | €47,534 | ▲ 1,720% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 31 days late
2025
10-10
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 71 days late
2024
12-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Back to profitnet €12,982
Net result €12,982 after 2 loss-making years.
31-12
Financial
Liquidity times 12current ratio 7.03
Current ratio from 0.57 to 7.03; short-term debt falls from €309,885 to €28,617.
07-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Weakest financial yearnet -€169,586
Net result drops to -€169,586, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 31 days late
2021
17-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 17 days late
2020
31-12
Financial
Back to profitnet €123,488
Net result €123,488 after one loss-making year.
31-12
Financial
Equity above €100,000Eq €123,453
Equity rises from -€35 to €123,453.
06-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 67 days late
Show earlier events
2019
28-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
26-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
25-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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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, Zedelgem · 1 establishment unit since 2008
Ground area
5,158 m²
Building footprint
189 m²
Volume, LiDAR
1,073 m³
Parcel 31001C1072/00P000, Flanders · tallest building 8.0 m, ±2 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
MONACA
since 20082.191.441.618
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31001C1072/00P000 | Flanders | 5,158 m² | 1 · 189 m² | 8.0 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
1 holdingOwners 0
The accounts to 31-12-2023 list no shareholders, and no other source names one.
Holdings 1
-
33.33%
According to the 2023 annual accounts of MONACA and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 3,531 companies in sector 90391 we hold annual accounts for 684. 329 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded20-08-2008
Fiscal year end31-12
Activities, NACEBEL 2025
90391Promotion and organisation of arts and performing arts events
56210Event catering
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0806405639
Also
9925:BE0806405639
Registered
23-12-2025
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.