MONERI
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 30-10-2025 PDF all 14 filings
Turnover
≈ €76,000
Estimated: probably between €37,000 and €150,000
Total assets
€1.1m▲ 6.6%
2024 · €1.1m
Net result
€539▼ 99.1%
2024 · €62,360
Working capital
€829,248▲ 21.8%
2024 · €680,862
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
-€3,663
▲ 88.1%
2025
20192025
Net result
€539
▼ 99.1%
2025
lowest quarter of the sector
20192025
Equity
€821,710
▲ 0.1%
2025
highest quarter of the sector
20192025
Total assets
€1.1m
▲ 6.6%
2025
highest quarter of the sector
20192025
Debt
€317,212
▲ 28.5%
2025
20192025
Working capital
€829,248
▲ 21.8%
2025
highest quarter of the sector
20192025
Solvency
72.1%
▼ 4.7pp
2025
middle half of the sector
20192025
Current ratio
13.42
▲ 8.11
2025
highest quarter of the sector
20192025
Return on assets (ROA)
0.0%
▼ 5.8pp
2025
lowest quarter of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€0.007m-€0.01m▲ 74.1%€0.03m▲ 156%€0.2m▲ 493%€0.2m▲ 11.4%-€0.03m-€0.004m▲ 88.1%
Net result€0.001m--€0.06mbelow the sector's middle half€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%
Equity€0.2m-€0.5mabove the sector's middle half▲ 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%
Total assets€0.4m-€0.7mabove the sector's middle half▲ 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%
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%
Working capital€0.2m-€0.4mabove the sector's middle half▲ 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%
Solvency36.8%-73.5%within the sector's middle half▲ 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▼ 4.7pp
Current ratio2.02-3.42within the sector's middle half▲ 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▲ 8.11
Return on assets (ROA)0.2%--7.9%below the sector's middle half▼ 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
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 2025 is a loss of €3,663, smaller than the loss of €30,679 in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.1m
Fixed assets
€242,915 ▲ 6.0%
Current assets
€896,007 ▲ 6.8%
Equity and liabilities €1.1m
Equity
€821,710 ▲ 0.1%
Debt
€317,212 ▲ 28.5%
Debt's share of the balance-sheet total rises from 23.1% to 27.9%. Equity and debt are higher.
Key figures and ratios
EBITDA
€12,326▲
2024 · -€12,717
Cash flow
€16,528▼
2024 · €80,322
Debt to equity
0.39▲
2024 · 0.30
ROE
0.1%▼
2024 · 7.6%
Interest coverage
2.52▲
2024 · -0.44
Debt ≤ 1 year
€66,760▼
2024 · €158,031
Debt > 1 year
€80,125▼
2024 · €88,860
Income taxes
€1,735▼
2024 · €34,806
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 31-03-2020 | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €33,929 | - | - | €176,220 | €29,735 |
| Financial fixed assets | €5 | - | - | - | - |
| Depreciation and write-downs of the year | €15,957 | €15,957 | €15,957 | €17,962 | €15,989 |
Source: notes to the 2020 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 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 | ▼ 11.0% |
| 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 | ▼ 82.2% |
| Non-recurring operating charges66A | - | €434 | - | - | - | - | - | - |
| Gross operating margin9900 | €25,733 | -€14,299 | €51,441 | €214,789 | €237,245 | €9,323 | €16,249 | ▲ 74.3% |
| Operating profit (loss)9901 | €7,439 | €12,950 | €33,189 | €196,751 | €219,208 | -€30,679 | -€3,663 | ▲ 88.1% |
| Financial income75/76B | - | €133,658 | - | €2,866 | €103 | €156,594 | €10,822 | ▼ 93.1% |
| Recurring financial income75 | €238 | €133,543 | €79,024 | €2,866 | €103 | €156,594 | €10,822 | ▼ 93.1% |
| Non-recurring financial income76B | - | €115 | - | - | - | - | - | - |
| Financial charges65/66B | - | €203,324 | - | €61,349 | €57,131 | €28,749 | €4,886 | ▼ 83.0% |
| Recurring financial charges65 | €6,361 | €203,324 | €87,420 | €61,349 | €57,131 | €28,749 | €4,886 | ▼ 83.0% |
| Profit (loss) for the period before taxes9903 | €1,315 | -€56,716 | €24,792 | €138,268 | €162,180 | €97,166 | €2,273 | ▼ 97.7% |
| Income taxes67/77 | €360 | €365 | €2,331 | €31,570 | €45,639 | €34,806 | €1,735 | ▼ 95.0% |
| Profit (loss) for the period9904 | €956 | -€57,081 | €22,461 | €106,698 | €116,541 | €62,360 | €539 | ▼ 99.1% |
| Profit (loss) for the period to be appropriated9905 | €956 | -€57,081 | €22,461 | €106,698 | €116,541 | €62,360 | €539 | ▼ 99.1% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €0.4m | €0.7m | €0.7m | €1.0m | €1.1m | €1.1m | €1.1m | ▲ 6.6% |
| Fixed assets21/28 | €0.07m | €0.1m | €0.1m | €0.09m | €0.07m | €0.2m | €0.2m | ▲ 6.0% |
| Tangible fixed assets22/27 | €0.07m | €0.1m | €0.1m | €0.09m | €0.07m | €0.2m | €0.2m | ▲ 6.0% |
| Land and buildings22 | - | €0.09m | - | €0.07m | €0.06m | €0.2m | €0.2m | ▲ 6.1% |
| Furniture and vehicles24 | - | €0.03m | - | €0.01m | €0.007m | - | - | - |
| Other tangible fixed assets26 | - | €0.001m | - | €0.001m | €425 | €261 | €96 | ▼ 63.1% |
| Financial fixed assets28 | - | €5 | €5 | €5 | €5 | €5 | €5 | = |
| Current assets29/58 | €0.3m | €0.6m | €0.6m | €0.9m | €1.0m | €0.8m | €0.9m | ▲ 6.8% |
| Amounts receivable within one year40/41 | €0.07m | €0.03m | €0.02m | €0.03m | - | €0.002m | €0.03m | ▲ 17× |
| Trade receivables40 | - | €0.03m | - | €0.03m | - | - | €0.01m | - |
| Other amounts receivable41 | - | €1 | - | - | - | €0.002m | €0.02m | ▲ 11× |
| Current investments50/53 | €0.3m | €0.5m | €0.2m | €0.3m | €0.2m | €0.6m | €0.8m | ▲ 34.6% |
| Cash at bank and in hand54/58 | €0.001m | €0.1m | €0.4m | €0.6m | €0.8m | €0.3m | €0.09m | ▼ 66.6% |
| 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 | ▲ 6.6% |
| Equity10/15 | €0.2m | €0.5m | €0.6m | €0.7m | €0.8m | €0.8m | €0.8m | ▲ 0.1% |
| Contributions10/11 | €0.006m | €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 | = |
| Distributable reserves133 | - | €0.2m | - | €0.3m | €0.4m | €0.5m | €0.5m | = |
| Profit (loss) carried forward14 | - | - | €0.002m | €0.01m | €0.02m | €0.02m | €0.02m | ▲ 2.7% |
| Provisions and deferred taxes16 | €0.05m | - | - | - | - | - | - | - |
| Amounts payable17/49 | €0.2m | €0.2m | €0.1m | €0.4m | €0.3m | €0.2m | €0.3m | ▲ 28.5% |
| Amounts payable after more than one year17 | €0.05m | €0.01m | - | - | - | €0.09m | €0.08m | ▼ 9.8% |
| Financial debts170/4 | - | €0.01m | - | - | - | €0.09m | €0.08m | ▼ 9.8% |
| Amounts payable within one year42/48 | €0.2m | €0.2m | €0.1m | €0.2m | €0.3m | €0.2m | €0.07m | ▼ 57.8% |
| Current portion of amounts payable after more than one year42 | - | €0.03m | - | - | - | €0.008m | €0.009m | ▲ 3.9% |
| Trade debts44 | €0.03m | €0.02m | €0.006m | €0.002m | €0.004m | €0.02m | €0.006m | ▼ 68.7% |
| Suppliers440/4 | - | €0.02m | - | €0.002m | €0.004m | €0.02m | €0.006m | ▼ 68.7% |
| Taxes, remuneration and social security45 | - | €0.005m | - | €0.05m | €0.02m | €0.03m | - | - |
| Taxes450/3 | - | €0.005m | - | €0.05m | €0.02m | €0.03m | - | - |
| Other amounts payable47/48 | - | €0.1m | - | €0.1m | €0.3m | €0.1m | €0.05m | ▼ 46.1% |
| Accrued charges and deferred income492/3 | - | €3 | - | €0.2m | - | - | €0.2m | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €956 | -€57,081 | €22,461 | €106,698 | €116,541 | €62,360 | €539 | ▼ 99.1% |
| + Depreciation and write-downs630 | €6,824 | €15,957 | €15,957 | €15,957 | €15,957 | €17,962 | €15,989 | ▼ 11.0% |
| Operating cash flow (approximation) | €7,780 | -€41,124 | €38,418 | €122,655 | €132,498 | €80,322 | €16,528 | ▼ 79.4% |
| Investment in fixed assets (approximation) | - | -€61,776 | €0 | €0 | €0 | -€176,220 | -€29,735 | ▲ 83.1% |
| Change in cash | - | €125,880 | €293,417 | €167,122 | €192,450 | -€518,634 | -€173,906 | ▲ 66.5% |
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, 6,049 companies had the same profile as MONERI has now. Two years later, 95.9% were still going and 0.4% had gone bankrupt.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
95.9%
was still going
3.6%
stopped otherwise
0.4%
went bankrupt
That fits the bankruptcy probability of MONERI itself: 0.2% 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 6,049 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 14 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 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 | |
| 31-03-2016 | abbreviated format | 14-10-2016 | 2016-65600449 |