MONERI
ActiveFinancials · financial year 2026, micro format
2026 annual accounts filed 2 days after the deadline Filed on 2 November 2026, deadline 31 October 2026 (7 months after the close on 31 March 2026, Companies Code art. 3:10). Source: NBB, 2026-00598468.
Annual accounts 2026 filed on 02-11-2026 at the NBB all 15 filings
Equity
€819,770▼ 0.2%
2025 · €821,710
Total assets
€1.2m▲ 1.0%
2025 · €1.1m
Net result
-€1,940
2025 · €539
Working capital
€812,515▼ 2.0%
2025 · €829,248
Multi-year overview
2019 to 2026, 8 financial yearsOperating result
-€26,730
▼ 630%
2026
20192026
Net result
-€1,940
2026
20192026
Equity
€819,770
▼ 0.2%
2026
20192026
Total assets
€1.2m
▲ 1.0%
2026
20192026
Debt
€330,798
▲ 4.3%
2026
20192026
Working capital
€812,515
▼ 2.0%
2026
20192026
Solvency
71.2%
▼ 0.9pp
2026
20192026
Current ratio
11.08
▼ 2.34
2026
20192026
Return on assets (ROA)
-0.2%
▼ 0.2pp
2026
20192026
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20192020202120222023202420252026
Operating result€0.007m-€0.01m▲ 74.1%€0.03m▲ 156%€0.2m▲ 493%€0.2m▲ 11.4%-€0.03m-€0.004m▲ 88.1%-€0.03m▼ 630%
Net result€0.001m--€0.06m€0.02mwithin the sector's middle half€0.1mabove the sector's middle half▲ 375%€0.1mabove the sector's middle half▲ 9.2%€0.06mwithin the sector's middle half▼ 46.5%€0.001mbelow the sector's middle half▼ 99.1%-€0.002m
Equity€0.2m-€0.5m▲ 241%€0.6mabove the sector's middle half▲ 4.2%€0.7mabove the sector's middle half▲ 17.6%€0.8mabove the sector's middle half▲ 16.5%€0.8mabove the sector's middle half▲ 8.2%€0.8mabove the sector's middle half▲ 0.1%€0.8m▼ 0.2%
Total assets€0.4m-€0.7m▲ 70.9%€0.7mabove the sector's middle half▼ 3.9%€1.0mabove the sector's middle half▲ 47.9%€1.1mabove the sector's middle half▲ 6.9%€1.1mabove the sector's middle half▼ 2.8%€1.1mabove the sector's middle half▲ 6.6%€1.2m▲ 1.0%
Debt€0.2m-€0.2m▼ 13.2%€0.1m▼ 26.5%€0.4m▲ 167%€0.3m▼ 9.6%€0.2m▼ 27.3%€0.3m▲ 28.5%€0.3m▲ 4.3%
Working capital€0.2m-€0.4m▲ 142%€0.5mabove the sector's middle half▲ 5.5%€0.7mabove the sector's middle half▲ 66.3%€0.7mabove the sector's middle half▼ 8.2%€0.7mabove the sector's middle half▼ 1.0%€0.8mabove the sector's middle half▲ 21.8%€0.8m▼ 2.0%
Solvency36.8%-73.5%▲ 36.7pp79.7%above the sector's middle half▲ 6.2pp63.4%within the sector's middle half▼ 16.3pp69.1%within the sector's middle half▲ 5.7pp76.9%within the sector's middle half▲ 7.8pp72.1%within the sector's middle half▼ 4.7pp71.2%▼ 0.9pp
Current ratio2.02-3.42▲ 1.404.20within the sector's middle half▲ 0.784.93above the sector's middle half▲ 0.733.03within the sector's middle half▼ 1.905.31above the sector's middle half▲ 2.2813.42above the sector's middle half▲ 8.1111.08▼ 2.34
Return on assets (ROA)0.2%--7.9%▼ 8.1pp3.2%within the sector's middle half▲ 11.1pp10.4%within the sector's middle half▲ 7.2pp10.6%within the sector's middle half▲ 0.2pp5.8%within the sector's middle half▼ 4.8pp0.0%below the sector's middle half▼ 5.8pp-0.2%▼ 0.2pp
above
within
below
The sector band is the middle half of the companies in Activities of head offices; management consultancy activities (NACE 70). 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 2026 is a loss of €26,730, larger than the loss of €3,663 in 2025.
Turnover and EBIT margin are not published. The micro format does not require them.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €1.2m
Fixed assets
€257,421 ▲ 6.0%
Current assets
€893,147 ▼ 0.3%
Equity and liabilities €1.2m
Equity
€819,770 ▼ 0.2%
Debt
€330,798 ▲ 4.3%
Debt's share of the balance-sheet total rises from 27.9% to 28.8%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€12,105▼
2025 · €12,326
Cash flow
€12,685▼
2025 · €16,528
Debt to equity
0.40▲
2025 · 0.39
ROE
-0.2%▼
2025 · 0.1%
Interest coverage
-2.58▼
2025 · 2.52
Debt ≤ 1 year
€80,632▲
2025 · €66,760
Debt > 1 year
€71,033▼
2025 · €80,125
Income taxes
€5,422▲
2025 · €1,735
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | €176,220 | €29,735 | €29,131 |
| Depreciation and write-downs of the year | €15,957 | €15,957 | €17,962 | €15,989 | €14,624 |
Source: notes to the 2022 to 2026 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €3,306 | - | - | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,824 | €15,957 | €15,957 | €15,957 | €15,957 | €17,962 | €15,989 | €14,624 | ▼ 8.5% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | -€46,510 | - | - | - | - | - | - | - |
| Other operating charges640/8 | - | €2,870 | - | €2,081 | €2,080 | €22,040 | €3,922 | €3,939 | ▲ 0.4% |
| Non-recurring operating charges66A | - | €434 | - | - | - | - | - | - | - |
| Gross operating margin9900 | €25,733 | -€14,299 | €51,441 | €214,789 | €237,245 | €9,323 | €16,249 | -€8,166 | - |
| Operating profit (loss)9901 | €7,439 | €12,950 | €33,189 | €196,751 | €219,208 | -€30,679 | -€3,663 | -€26,730 | ▼ 630% |
| Financial income75/76B | - | €133,658 | - | €2,866 | €103 | €156,594 | €10,822 | €34,898 | ▲ 222% |
| Recurring financial income75 | €238 | €133,543 | €79,024 | €2,866 | €103 | €156,594 | €10,822 | €34,898 | ▲ 222% |
| Non-recurring financial income76B | - | €115 | - | - | - | - | - | - | - |
| Financial charges65/66B | - | €203,324 | - | €61,349 | €57,131 | €28,749 | €4,886 | €4,686 | ▼ 4.1% |
| Recurring financial charges65 | €6,361 | €203,324 | €87,420 | €61,349 | €57,131 | €28,749 | €4,886 | €4,686 | ▼ 4.1% |
| Profit (loss) for the period before taxes9903 | €1,315 | -€56,716 | €24,792 | €138,268 | €162,180 | €97,166 | €2,273 | €3,482 | ▲ 53.2% |
| Income taxes67/77 | €360 | €365 | €2,331 | €31,570 | €45,639 | €34,806 | €1,735 | €5,422 | ▲ 213% |
| Profit (loss) for the period9904 | €956 | -€57,081 | €22,461 | €106,698 | €116,541 | €62,360 | €539 | -€1,940 | - |
| Profit (loss) for the period to be appropriated9905 | €956 | -€57,081 | €22,461 | €106,698 | €116,541 | €62,360 | €539 | -€1,940 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.4m | €0.7m | €0.7m | €1.0m | €1.1m | €1.1m | €1.1m | €1.2m | ▲ 1.0% |
| Fixed assets21/28 | €0.07m | €0.1m | €0.1m | €0.09m | €0.07m | €0.2m | €0.2m | €0.3m | ▲ 6.0% |
| Tangible fixed assets22/27 | €0.07m | €0.1m | €0.1m | €0.09m | €0.07m | €0.2m | €0.2m | €0.3m | ▲ 6.0% |
| Land and buildings22 | - | €0.09m | - | €0.07m | €0.06m | €0.2m | €0.2m | €0.3m | ▲ 6.0% |
| Furniture and vehicles24 | - | €0.03m | - | €0.01m | €0.007m | - | - | - | - |
| Other tangible fixed assets26 | - | €0.001m | - | €0.001m | €425 | €261 | €96 | - | - |
| Financial fixed assets28 | - | €5 | €5 | €5 | €5 | €5 | €5 | €5 | = |
| Current assets29/58 | €0.3m | €0.6m | €0.6m | €0.9m | €1.0m | €0.8m | €0.9m | €0.9m | ▼ 0.3% |
| Amounts receivable within one year40/41 | €0.07m | €0.03m | €0.02m | €0.03m | - | €0.002m | €0.03m | €0.04m | ▲ 17.0% |
| Trade receivables40 | - | €0.03m | - | €0.03m | - | - | €0.01m | €0.02m | ▲ 125% |
| Other amounts receivable41 | - | €1 | - | - | - | €0.002m | €0.02m | €0.02m | ▼ 34.6% |
| Current investments50/53 | €0.3m | €0.5m | €0.2m | €0.3m | €0.2m | €0.6m | €0.8m | €0.7m | ▼ 4.9% |
| Cash at bank and in hand54/58 | €0.001m | €0.1m | €0.4m | €0.6m | €0.8m | €0.3m | €0.09m | €0.1m | ▲ 33.2% |
| Deferred charges and accrued income490/1 | - | €0.001m | - | - | - | - | - | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.4m | €0.7m | €0.7m | €1.0m | €1.1m | €1.1m | €1.1m | €1.2m | ▲ 1.0% |
| Equity10/15 | €0.2m | €0.5m | €0.6m | €0.7m | €0.8m | €0.8m | €0.8m | €0.8m | ▼ 0.2% |
| Contributions10/11 | €0.006m | €0.3m | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Reserves13 | €0.1m | €0.2m | €0.2m | €0.3m | €0.4m | €0.5m | €0.5m | €0.5m | = |
| Distributable reserves133 | - | €0.2m | - | €0.3m | €0.4m | €0.5m | €0.5m | €0.5m | = |
| Profit (loss) carried forward14 | - | - | €0.002m | €0.01m | €0.02m | €0.02m | €0.02m | €0.02m | ▼ 9.4% |
| Provisions and deferred taxes16 | €0.05m | - | - | - | - | - | - | - | - |
| Amounts payable17/49 | €0.2m | €0.2m | €0.1m | €0.4m | €0.3m | €0.2m | €0.3m | €0.3m | ▲ 4.3% |
| Amounts payable after more than one year17 | €0.05m | €0.01m | - | - | - | €0.09m | €0.08m | €0.07m | ▼ 11.3% |
| Financial debts170/4 | - | €0.01m | - | - | - | €0.09m | €0.08m | €0.07m | ▼ 11.3% |
| Amounts payable within one year42/48 | €0.2m | €0.2m | €0.1m | €0.2m | €0.3m | €0.2m | €0.07m | €0.08m | ▲ 20.8% |
| Current portion of amounts payable after more than one year42 | - | €0.03m | - | - | - | €0.008m | €0.009m | €0.009m | ▲ 3.9% |
| Trade debts44 | €0.03m | €0.02m | €0.006m | €0.002m | €0.004m | €0.02m | €0.006m | €0.002m | ▼ 64.1% |
| Suppliers440/4 | - | €0.02m | - | €0.002m | €0.004m | €0.02m | €0.006m | €0.002m | ▼ 64.1% |
| Taxes, remuneration and social security45 | - | €0.005m | - | €0.05m | €0.02m | €0.03m | - | €0.001m | - |
| Taxes450/3 | - | €0.005m | - | €0.05m | €0.02m | €0.03m | - | €0.001m | - |
| Other amounts payable47/48 | - | €0.1m | - | €0.1m | €0.3m | €0.1m | €0.05m | €0.07m | ▲ 31.4% |
| Accrued charges and deferred income492/3 | - | €3 | - | €0.2m | - | - | €0.2m | €0.2m | ▲ 5.2% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €956 | -€57,081 | €22,461 | €106,698 | €116,541 | €62,360 | €539 | -€1,940 | - |
| + Depreciation and write-downs630 | €6,824 | €15,957 | €15,957 | €15,957 | €15,957 | €17,962 | €15,989 | €14,624 | ▼ 8.5% |
| Operating cash flow (approximation) | €7,780 | -€41,124 | €38,418 | €122,655 | €132,498 | €80,322 | €16,528 | €12,685 | ▼ 23.3% |
| Investment in fixed assets (approximation) | - | -€61,776 | €0 | €0 | €0 | -€176,220 | -€29,735 | -€29,131 | ▲ 2.0% |
| Change in cash | - | €125,880 | €293,417 | €167,122 | €192,450 | -€518,634 | -€173,906 | €28,981 | - |
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, 2,686 companies had the same profile as MONERI has now. Two years later, 93.7% were still going and 0.6% had gone bankrupt.
- Small
- 10 to 20 years old
- solvency 30% or more
- a small loss
93.7%
was still going
5.4%
stopped otherwise
0.6%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of MONERI itself: < 0.1% 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 2,686 companies, not a prediction for MONERI. 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 |
|---|---|---|---|---|
| 31-03-2026 | micro format | 02-11-2026 | 2026-00598468 | |
| 31-03-2025 | micro format | 30-10-2025 | 2025-00554167 | |
| 31-03-2024 | micro format | 30-10-2024 | 2024-00519787 | |
| 31-03-2023 | micro format | 27-10-2023 | 2023-00494197 | |
| 31-03-2022 | micro format | 28-11-2022 | 2022-20526482 | |
| 31-03-2021 | micro format | 05-11-2021 | 2021-76600055 | |
| 31-03-2020 | micro format | 24-11-2020 | 2020-72000122 | |
| 31-03-2019 | micro format | 30-10-2019 | 2019-72300226 | |
| 31-03-2018 | micro format | 31-10-2018 | 2018-71000426 | |
| 31-03-2017 | micro format | 29-09-2017 | 2017-64900179 |