MONFEE
ActiveSummary
MONFEE has been active since 2022 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €33,615 and a net result of €32,757. Equity has been growing by about 47% per year since 2022. Its solvency ranks better than 49% of 34,954 sector peers (NACE 43, financial year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 25-02-2022 Normal situation
- Activity
- General electrical installation work NACE 43211and 5 others
- Establishment unit
- 2.328.326.335 9700 Oudenaarde, since 25-02-2022
- Financial year end
- 30 June
- Peppol
- Reachable since 07-11-2025
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.4%
- Gross margin
- €47,726
- ▲ 108%
- Turnover
- ≈ €220,000
- estimated
- Profit
- €32,757
- ▲ 39.8%
- Equity
- €33,615
- ▼ 41.1%
- Total assets
- €73,174
- ▲ 4.8%
Score breakdownraises riskFounded in 2022Size: total assets €73,174lowers riskLiquidity: current ratio 1.85, cash €32,736Equity €33,615 (45.9% of total assets)Show the evidence
Checked score
About 4 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 43, micro). It does better than 50% of them on solvency, 71% on liquidity, 92% on profitability and 11% on growth.
The bankruptcy probability was computed on 03-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 4 accounts on average 29 days before the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 17-11-2025 PDF all 4 filings
Every figure per financial year
The operating result for 2025 is 111% higher than in 2024 and the highest since 2022. It is a recovery after the fall 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.
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €8,252 | - | - | - |
| Depreciation and write-downs of the year | €175 | €2,063 | €0 | - |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €175 | €2,063 | €0 | - | - |
| Other operating charges640/8 | €100 | €482 | €772 | €998 | ▲ 29.3% |
| Gross operating margin9900 | €6,544 | €37,904 | €22,911 | €47,726 | ▲ 108% |
| Operating profit (loss)9901 | €6,268 | €35,359 | €22,139 | €46,728 | ▲ 111% |
| Financial income75/76B | - | - | €9,986 | €0 | ▼ 100.0% |
| Recurring financial income75 | - | - | €9,986 | €0 | ▼ 100.0% |
| Non-recurring financial income76B | - | - | €9,986 | €0 | ▼ 100% |
| Financial charges65/66B | €9 | €53 | €2,691 | €4,519 | ▲ 67.9% |
| Recurring financial charges65 | €9 | €53 | €2,691 | €4,519 | ▲ 67.9% |
| Profit (loss) for the period before taxes9903 | €6,260 | €35,306 | €29,434 | €42,209 | ▲ 43.4% |
| Income taxes67/77 | €1,671 | €9,679 | €6,008 | €9,452 | ▲ 57.3% |
| Profit (loss) for the period9904 | €4,589 | €25,627 | €23,425 | €32,757 | ▲ 39.8% |
| Profit (loss) for the period to be appropriated9905 | €4,589 | €25,627 | €23,425 | €32,757 | ▲ 39.8% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €22,291 | €51,908 | €69,850 | €73,174 | ▲ 4.8% |
| Fixed assets21/28 | €8,077 | €6,014 | €0 | - | - |
| Tangible fixed assets22/27 | €8,077 | €6,014 | €0 | - | - |
| Furniture and vehicles24 | €8,077 | €6,014 | €0 | - | - |
| Current assets29/58 | €14,215 | €45,895 | €69,850 | €73,174 | ▲ 4.8% |
| Amounts receivable within one year40/41 | €13,260 | €0 | €19,441 | €20,908 | ▲ 7.5% |
| Trade receivables40 | €13,260 | €0 | €19,360 | €19,360 | = |
| Other amounts receivable41 | - | - | €81 | €1,548 | ▲ 19× |
| Current investments50/53 | - | - | - | €18,703 | - |
| Cash at bank and in hand54/58 | €574 | €45,306 | €49,530 | €32,736 | ▼ 33.9% |
| Deferred charges and accrued income490/1 | €380 | €589 | €879 | €827 | ▼ 5.9% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €22,291 | €51,908 | €69,850 | €73,174 | ▲ 4.8% |
| Equity10/15 | €8,789 | €33,615 | €57,041 | €33,615 | ▼ 41.1% |
| Contributions10/11 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Reserves13 | €3,789 | €28,615 | €52,041 | €28,615 | ▼ 45.0% |
| Distributable reserves133 | €3,789 | €28,615 | €52,041 | €28,615 | ▼ 45.0% |
| Profit (loss) carried forward14 | €0 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €13,503 | €18,293 | €12,810 | €39,559 | ▲ 209% |
| Amounts payable within one year42/48 | €13,503 | €18,293 | €12,810 | €39,559 | ▲ 209% |
| Trade debts44 | €8,250 | €681 | €91 | €162 | ▲ 78.5% |
| Suppliers440/4 | €8,250 | €681 | €91 | €162 | ▲ 78.5% |
| Taxes, remuneration and social security45 | €3,239 | €15,123 | €11,049 | €5,323 | ▼ 51.8% |
| Taxes450/3 | €3,239 | €15,123 | €11,049 | €5,323 | ▼ 51.8% |
| Other amounts payable47/48 | €2,014 | €2,490 | €1,670 | €34,074 | ▲ 20× |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €4,589 | €25,627 | €23,425 | €32,757 | ▲ 39.8% |
| + Depreciation and write-downs630 | €175 | €2,063 | €0 | - | - |
| Operating cash flow (approximation) | €4,764 | €27,690 | €23,425 | €32,757 | ▲ 39.8% |
| Investment in fixed assets (approximation) | - | €0 | €6,014 | - | - |
| Change in cash | - | €44,732 | €4,224 | -€16,794 | - |
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, 39,278 companies had the same profile as MONFEE has now. Two years later, 95.8% were still going and 1.8% had gone bankrupt.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of MONFEE itself: 0.4% 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 39,278 companies, not a prediction for MONFEE. 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.
Board & ownership
Directors
Owners and capital
Shareholders
- Wouter De Merlier 500 shares (100%) · €5,000
Capital transactions
- 01-03-2022 Incorporation · €5,000 · 500 shares
Articles of association
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “1”
- Statutory auditorA statutory auditor is a registered auditor who checks the annual accounts. Small companies need not have one. According to the deed, the legal criteria do not require one here.
- No statutory auditor
Articles of association, deed of 01-03-2022 (in Dutch)
Network & group
Connections & network
1 connected companyThe connected companies are in the list below.
Timeline
Acts, filings and financial milestones
01-03
Gazette deed
IncorporationStarting capital €5,000 · Appointment: Wouter De Merlier (director) · Registered office clause · Pre-incorporation commitments8 points ▸
- Registered office clause, “9700 Oudenaarde(Melden),Berchemweg 256” (deed in Dutch)
- Director appointment, Wouter De Merlier (director)
- Pre-incorporation commitments, “takeover, alle verbintenissen en verplichtingen en alle activiteiten in naam en voor rekening van vennootschap in oprichting” (deed in Dutch)
- Incorporation, “MONFEE” (deed in Dutch)
- Founder, Wouter De Merlier
- Founding capital, €5,000
- Bank account, “BE57 0019 2464 8435, vennootschap in oprichting” (deed in Dutch)
- Other provision, “bewaring bewijs deponering en financieel plan, ten kantore in dossier van vennootschap” (deed in Dutch)
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
Invoicing and payment
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0782.647.765
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 45023A0513/00A002 | Flanders | 1,006 m² | 1 · 206 m² | 10.9 m · 1 |