MonaVisa
ActiveSummary
MonaVisa has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €261,865 and a net result of €228,121. Equity is growing by ~6.1% per year across the filed fiscal years. Its solvency ranks better than 12% of 7940 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability79▲+25
Solvency34=
Growth32=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €14,000 at 30 days acceptable
Liquidity short (current ratio 0.94 against 1.07 in 2024; short-term debt: 75.7% and cash: 14.2% of total assets), and 90.7% 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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more 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
9.3%
Return on assets
8.1%
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 12% of 7940 sector peers (2025).
NBB · sector comparisonPosition among 7940 sector peers
Solvency
better than 12%
← weakest
strongest →
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 20-07-2026, 11 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
11 d early
2024
18 d late
2023
30 d late
2022
31 d late
2021
30 d late
2020
31 d early
2019
120 d early
← 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 8 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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. Usually files around 30 August (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€261,865▲ 14.5%
2024 · €228,744
Total assets
€2.8m▲ 4.9%
2024 · €2.7m
Net result
€228,121
2024 · -€2,150
Working capital
-€133,030
2024 · €125,915
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction 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
Operating result€327,992▲ 498%€50,969▼ 84.5%€130,555▲ 156%€25,451▼ 80.5%€265,710▲ 944%
Net result€299,162above the sector's middle half▲ 971%€21,677within the sector's middle half▼ 92.8%€111,230within the sector's middle half▲ 413%-€2,150below the sector's middle half€228,121above the sector's middle half
Equity€202,987within the sector's middle half▲ 32.0%€224,664within the sector's middle half▲ 10.7%€230,894within the sector's middle half▲ 2.8%€228,744within the sector's middle half▼ 0.9%€261,865within the sector's middle half▲ 14.5%
Total assets€1.9mabove the sector's middle half▲ 0.5%€1.8mabove the sector's middle half▼ 6.5%€2.1mabove the sector's middle half▲ 15.0%€2.7mabove the sector's middle half▲ 31.0%€2.8mabove the sector's middle half▲ 4.9%
Debt€1.7m▼ 2.3%€1.6m▼ 8.5%€1.8m▲ 16.7%€2.5m▲ 35.0%€2.6m▲ 4.0%
Working capital€414,361within the sector's middle half▼ 5.5%€314,002within the sector's middle half▼ 24.2%€212,119within the sector's middle half▼ 32.4%€125,915within the sector's middle half▼ 40.6%-€133,030below the sector's middle half
Solvency10.6%below the sector's middle half▲ 2.5pp12.6%below the sector's middle half▲ 2.0pp11.3%below the sector's middle half▼ 1.3pp8.5%below the sector's middle half▼ 2.7pp9.3%below the sector's middle half▲ 0.8pp
Current ratio1.50within the sector's middle half▼ 0.121.39within the sector's middle half▼ 0.101.19within the sector's middle half▼ 0.211.07below the sector's middle half▼ 0.120.94below the sector's middle half▼ 0.13
Return on assets (ROA)15.7%above the sector's middle half▲ 14.2pp1.2%below the sector's middle half▼ 14.5pp5.4%within the sector's middle half▲ 4.2pp-0.1%below the sector's middle half▼ 5.5pp8.1%within the sector's middle half▲ 8.2pp
Staff (FTE)21.8above the sector's middle half▼ 4.8%20above the sector's middle half▼ 8.3%21.3above the sector's middle half▲ 6.5%21.3above the sector's middle half=17.7above the sector's middle half▼ 16.9%
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction 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 recovers in 2025; 2025 is 944% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.8m
Fixed assets
€817,384 ▲ 30.6%
Current assets
€2.0m ▼ 2.9%
Equity and liabilities €2.8m
Equity
€261,865 ▲ 14.5%
Debt
€2.6m ▲ 4.0%
Debt's share of the balance-sheet total falls from 91.5% to 90.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€378,774▲
2024 · €147,692
Cash flow
€341,185▲
2024 · €120,091
Quick ratio
0.65▼
2024 · 0.81
Debt to equity
9.77▼
2024 · 10.75
ROE
87.1%▲
2024 · -0.9%
Interest coverage
7.64▲
2024 · 4.26
Debt ≤ 1 year
€2.1m▲
2024 · €1.9m
Debt > 1 year
€400,563▼
2024 · €515,003
Income taxes
€903▼
2024 · €7,738
Staff costs
€1.6m▼
2024 · €1.7m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 496 companies that looked in July 2024 the way this one looks now, 1.2% went bankrupt within 24 months and 95% are still going.
- Small
- 20 years or older
- solvency under 10%
- a profit of 5% of the balance sheet or more
1.2%
went bankrupt
3.2%
stopped otherwise
95%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% 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 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 496 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 | €16,493 | €0 | €37,962 | €3,306 | €387,052 | ▲ 11,608% |
| Remuneration, social security and pensions62 | €1.4m | €1.4m | €1.7m | €1.7m | €1.6m | ▼ 7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €105,159 | €91,007 | €96,646 | €122,241 | €113,065 | ▼ 7.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | -€33,983 | -€35,442 | €0 | -€5,774 | -€5,048 | ▲ 12.6% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | €0 | - | - | - | - | - |
| Other operating charges640/8 | €67,886 | €50,754 | €15,219 | €20,845 | €17,511 | ▼ 16.0% |
| Non-recurring operating charges66A | €577 | €3,171 | €2,775 | €1,175 | €11,502 | ▲ 879% |
| Gross operating margin9900 | €1.8m | €1.6m | €1.9m | €1.9m | €2.0m | ▲ 6.3% |
| Operating profit (loss)9901 | €327,992 | €50,969 | €130,555 | €25,451 | €265,710 | ▲ 944% |
| Financial income75/76B | €18,203 | €11,323 | €12,346 | €14,816 | €12,886 | ▼ 13.0% |
| Recurring financial income75 | €18,203 | €11,323 | €12,346 | €14,816 | €12,886 | ▼ 13.0% |
| Financial charges65/66B | €19,270 | €19,393 | €24,495 | €34,679 | €49,572 | ▲ 42.9% |
| Recurring financial charges65 | €19,270 | €19,393 | €24,495 | €34,679 | €49,572 | ▲ 42.9% |
| Profit (loss) for the period before taxes9903 | €326,925 | €42,899 | €118,407 | €5,588 | €229,024 | ▲ 3,999% |
| Income taxes67/77 | €27,763 | €21,222 | €7,177 | €7,738 | €903 | ▼ 88.3% |
| Profit (loss) for the period9904 | €299,162 | €21,677 | €111,230 | -€2,150 | €228,121 | ▲ 10,708% |
| Profit (loss) for the period to be appropriated9905 | €299,162 | €21,677 | €111,230 | -€2,150 | €228,121 | ▲ 10,708% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.9m | €1.8m | €2.1m | €2.7m | €2.8m | ▲ 4.9% |
| Fixed assets21/28 | €660,685 | €670,628 | €694,568 | €625,672 | €817,384 | ▲ 30.6% |
| Intangible fixed assets21 | €14,138 | €42,522 | €29,658 | €21,415 | €43,551 | ▲ 103% |
| Tangible fixed assets22/27 | €646,534 | €628,094 | €664,897 | €604,245 | €773,820 | ▲ 28.1% |
| Land and buildings22 | €572,742 | €525,431 | €479,341 | €433,251 | €146,024 | ▼ 66.3% |
| Plant, machinery and equipment23 | €18,627 | €17,788 | €16,373 | €16,912 | €60,616 | ▲ 258% |
| Furniture and vehicles24 | €25,231 | €74,273 | €128,522 | €117,061 | €112,091 | ▼ 4.2% |
| Leasing and similar rights25 | €29,934 | €10,603 | €40,662 | €30,814 | €20,965 | ▼ 32.0% |
| Other tangible fixed assets26 | - | - | - | €6,206 | €434,124 | ▲ 6,895% |
| Financial fixed assets28 | €13 | €13 | €13 | €13 | €13 | = |
| Current assets29/58 | €1.2m | €1.1m | €1.4m | €2.1m | €2.0m | ▼ 2.9% |
| Stocks and contracts in progress3 | €280,556 | €524,800 | €447,160 | €496,848 | €619,128 | ▲ 24.6% |
| Stocks30/36 | €280,556 | €356,969 | €396,506 | €345,711 | €351,875 | ▲ 1.8% |
| Contracts in progress37 | - | €167,831 | €50,654 | €151,137 | €267,253 | ▲ 76.8% |
| Amounts receivable within one year40/41 | €357,198 | €419,798 | €622,775 | €625,983 | €678,851 | ▲ 8.4% |
| Trade receivables40 | €314,304 | €389,678 | €563,907 | €544,049 | €619,777 | ▲ 13.9% |
| Other amounts receivable41 | €42,894 | €30,120 | €58,868 | €81,934 | €59,074 | ▼ 27.9% |
| Current investments50/53 | - | - | - | - | €266,035 | - |
| Cash at bank and in hand54/58 | €567,832 | €147,175 | €262,960 | €923,673 | €400,250 | ▼ 56.7% |
| Deferred charges and accrued income490/1 | €42,067 | €22,336 | €24,575 | €15,461 | €38,357 | ▲ 148% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.9m | €1.8m | €2.1m | €2.7m | €2.8m | ▲ 4.9% |
| Equity10/15 | €202,987 | €224,664 | €230,894 | €228,744 | €261,865 | ▲ 14.5% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €135,225 | €135,225 | €135,225 | €135,225 | €135,225 | = |
| Tax-exempt reserves132 | €37,912 | €37,912 | €37,912 | €37,912 | €37,912 | = |
| Distributable reserves133 | €97,312 | €97,312 | €97,312 | €97,312 | €97,312 | = |
| Profit (loss) carried forward14 | €49,162 | €70,839 | €77,070 | €74,919 | €108,040 | ▲ 44.2% |
| Amounts payable17/49 | €1.7m | €1.6m | €1.8m | €2.5m | €2.6m | ▲ 4.0% |
| Amounts payable after more than one year17 | €869,116 | €759,966 | €673,841 | €515,003 | €400,563 | ▼ 22.2% |
| Financial debts170/4 | €869,116 | €759,966 | €673,841 | €515,003 | €400,563 | ▼ 22.2% |
| Amounts payable within one year42/48 | €833,293 | €800,107 | €1.1m | €1.9m | €2.1m | ▲ 10.3% |
| Current portion of amounts payable after more than one year42 | €158,107 | €161,586 | €185,127 | €1.0m | €1.0m | ▼ 1.7% |
| Financial debts43 | €494 | €204 | €146,577 | €294,234 | €1,628 | ▼ 99.4% |
| Credit institutions430/8 | €494 | €204 | €146,577 | €294,234 | €1,628 | ▼ 99.4% |
| Trade debts44 | €187,928 | €179,696 | €293,863 | €164,751 | €265,553 | ▲ 61.2% |
| Suppliers440/4 | €187,928 | €179,696 | €293,863 | €164,751 | €265,553 | ▲ 61.2% |
| Advances received on contracts in progress46 | €101,126 | €314,336 | €228,535 | €319,440 | €530,624 | ▲ 66.1% |
| Taxes, remuneration and social security45 | €135,637 | €144,285 | €186,249 | €131,654 | €134,047 | ▲ 1.8% |
| Taxes450/3 | €17,755 | €25,538 | €30,971 | €18,176 | €16,659 | ▼ 8.3% |
| Remuneration and social security454/9 | €117,882 | €118,747 | €155,278 | €113,478 | €117,388 | ▲ 3.4% |
| Other amounts payable47/48 | €250,000 | €0 | €105,000 | €0 | €195,000 | - |
| Accrued charges and deferred income492/3 | €2,942 | €0 | €1,952 | €7,841 | €21,926 | ▲ 180% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €299,162 | €21,677 | €111,230 | -€2,150 | €228,121 | ▲ 10,708% |
| + Depreciation and write-downs630 | €105,159 | €91,007 | €96,646 | €122,241 | €113,065 | ▼ 7.5% |
| Operating cash flow (approximation) | €404,321 | €112,684 | €207,876 | €120,091 | €341,185 | ▲ 184% |
| Investment in fixed assets (approximation) | - | -€100,951 | -€120,586 | -€53,345 | -€304,776 | ▼ 471% |
| Change in cash | - | -€420,657 | €115,784 | €660,714 | -€523,424 | ▼ 179% |
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
20-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
26-06
State Gazette act
Permanent representative: Francis De NolfRegistered-office move4 facts ▸
State Gazette act
Permanent representative: Francis De Nolf
Registered-office move4 facts ▸
- Board meeting, 27-03-2026
- Registered-office move, 8800 Roeselare,Hof ter Weze 6-8
- Director in office, ALAUDA NV (managing director)
- Permanent representative, Francis De Nolf (permanent representative)
2025
31-12
Financial
Back to profitnet €228,121
Net result €228,121 after one loss-making year.
18-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 18 days late
2024
31-12
Financial
Weakest financial yearnet -€2,150
Net result drops to -€2,150, the lowest in the series; recovery starts the following year.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 30 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 31 days late
2022
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 30 days late
2021
31-12
Financial
Equity above €200,000Eq €202,987 ▲32%
4 profitable years in a row build equity to €202,987.
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
02-04
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Highest result since 2018net €403,362 ▲30%
Operating result €505,330, net result €403,362, both a record.
Show earlier events
23-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
30-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
30-05
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 15 acts read
About the unread acts
Of the 15 Belgian State Gazette acts we know for this company, 1 has been read. The other 14 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
15 acts for this company are in the Belgian State Gazette, of which we have read 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Roeselare · 1 establishment unit since 2014
Ground area
2,566 m²
Parcel 36302B1230/00Y000, Flanders. Linked by address, not a title deed.
1 establishment unit
MONA VISA
since 20142.241.232.906
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 36302B1230/00Y000 | Flanders | 2,566 m² | - | - |
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 ownerChain of control
Highest known parent: ALAUDA. The sources do not say who stands above it.
Owners 1
- DaLinciparentSourceaccounts DaLinci 2025100%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts 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.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 4 entries · 9,463 EUR awarded · 8,021 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 2,552 EUR | 1,052 EUR |
| 2024 | 1 | 5,282 EUR | 5,340 EUR |
| 2023 | 1 | 467 EUR | 467 EUR |
| 2022 | 1 | 1,162 EUR | 1,162 EUR |
Recognitions · licences · registrations
Recognised contractor
2 categoriesMonaVisa BV42839
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Of 7,302 companies in sector 43350 we hold annual accounts for 2,363. 1,679 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
Founded08-10-2004
Fiscal year end31-12
Activities, NACEBEL 2025
43350Other building finishing work
43990Other specialised construction activities
43320Joinery installation
43332Laying of wooden floor and wall coverings
46180Agents specialised in the wholesale of other particular products
46900Non-specialised wholesale trade
47781Retail sale of solid, liquid and gaseous fuels, excluding motor fuels
E-invoicing
Reachable via Peppol
Peppol ID
0208:0867710431
Registered
17-02-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.