MONSAERT
ActiveSummary
MONSAERT has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3.53M and a net result of €245k. Equity is growing by ~25% per year across the filed fiscal years. Its solvency ranks better than 33% of 14128 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability37▲+9
Solvency36▲+3
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €200k at 30 days acceptable
Liquidity ample (current ratio 9.35 against 10.67 in 2024; short-term debt: 3.4% and cash: 0.7% of total assets), but 89.1% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
10.9%
Return on assets
0.8%
Age of the figures
9 mo
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
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 30-04-2026, 92 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
92 d early
2024
143 d early
2023
148 d early
2022
122 d early
2021
61 d late
2020
31 d early
2019
31 d late
← before the deadline
after the deadline →
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€3.53M▲ 22.1%
2024 · €2.89M
2018: €604klowest in 8 years
2019: €995k▲ +64.9% vs 2018
2020: €1.18M▲ +19.0% vs 2019
2021: €1.23M▲ +4.1% vs 2020
2022: €1.60M▲ +29.9% vs 2021
2023: €1.84M▲ +15.0% vs 2022
2024: €2.89M▲ +57.0% vs 2023
2025: €3.53M▲ +22.1% vs 2024highest in 8 years
2018 → 2025
Total assets
€32.34M▼ 9.6%
2024 · €35.79M
2018: €7.40Mlowest in 8 years
2019: €8.25M▲ +11.5% vs 2018
2020: €12.82M▲ +55.4% vs 2019
2021: €14.48M▲ +13.0% vs 2020
2022: €18.46M▲ +27.4% vs 2021
2023: €26.15M▲ +41.7% vs 2022
2024: €35.79M▲ +36.8% vs 2023highest in 8 years
2025: €32.34M▼ -9.6% vs 2024
2018 → 2025
Net result
€245k▲ 1,302%
2024 · €17k
2018: €70k
2019: €393k▲ +459% vs 2018highest in 8 years
2020: €190k▼ -51.6% vs 2019
2021: €50k▼ -73.8% vs 2020
2022: €369k▲ +643% vs 2021
2023: €241k▼ -34.7% vs 2022
2024: €17k▼ -92.8% vs 2023lowest in 8 years
2025: €245k▲ +1302% vs 2024
2018 → 2025
Working capital
€9.17M▼ 2.6%
2024 · €9.41M
2018: €-22k
2019: €897k▲ +4249% vs 2018
2020: €-130k▼ -114% vs 2019lowest in 8 years
2021: €330k▲ +355% vs 2020
2022: €847k▲ +156% vs 2021
2023: €864k▲ +1.9% vs 2022
2024: €9.41M▲ +990% vs 2023highest in 8 years
2025: €9.17M▼ -2.6% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€1.23M-€1.60M▲ 29.9%€1.84M▲ 15.0%€2.89M▲ 57.0%€3.53M▲ 22.1%
2021: €1.23Mlowest in 5 years
2022: €1.60M▲ +29.9% vs 2021
2023: €1.84M▲ +15.0% vs 2022
2024: €2.89M▲ +57.0% vs 2023
2025: €3.53M▲ +22.1% vs 2024highest in 5 years
Operating result€288k-€817k▲ 184%€709k▼ 13.2%€471k▼ 33.7%€1.43M▲ 203%
2021: €288klowest in 5 years
2022: €817k▲ +184% vs 2021
2023: €709k▼ -13.2% vs 2022
2024: €471k▼ -33.7% vs 2023
2025: €1.43M▲ +203% vs 2024highest in 5 years
Net result€50k-€369k▲ 643%€241k▼ 34.7%€17k▼ 92.8%€245k▲ 1,302%
2021: €50k
2022: €369k▲ +643% vs 2021highest in 5 years
2023: €241k▼ -34.7% vs 2022
2024: €17k▼ -92.8% vs 2023lowest in 5 years
2025: €245k▲ +1302% vs 2024
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 203% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €32.34M
Fixed assets
€22.07M ▼ 13.1%
Current assets
€10.27M ▼ 1.1%
Equity and liabilities €32.34M
Equity
€3.53M ▲ 22.1%
Debt
€28.81M ▼ 12.4%
Debt's share of the balance-sheet total falls from 91.9% to 89.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€2.44M▲
2024 · €1.42M
Cash flow
€1.25M▲
2024 · €968k
Current ratio
9.35▼
2024 · 10.67
Quick ratio
1.61▼
2024 · 2.11
Debt to equity
8.16▼
2024 · 11.38
ROE
6.9%▲
2024 · 0.6%
ROA
0.8%▲
2024 · 0.0%
Interest coverage
2.11▲
2024 · 1.11
Debt ≤ 1 year
€1.10M▲
2024 · €973k
Debt > 1 year
€27.71M▼
2024 · €31.92M
Income taxes
€29k▲
2024 · €23k
Staff costs
€149k▲
2024 · €94k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 57 lines
Balance sheet
Code20242025
Assets
Total assets20/58€35.79M€32.34M▼
Fixed assets21/28€25.40M€22.07M▼
Tangible fixed assets22/27€24.52M€20.48M▼
Land and buildings22€24.04M€20.06M▼
Plant, machinery and equipment23€107k€104k▼
Furniture and vehicles24€371k€312k▼
Financial fixed assets28€876k€1.59M▲
Current assets29/58€10.39M€10.27M▼
Stocks and contracts in progress3€8.33M€8.50M▲
Stocks30/36€8.33M€8.50M▲
Amounts receivable within one year40/41€1.79M€1.51M▼
Trade receivables40€1.05M€1.21M▲
Other amounts receivable41€739k€307k▼
Cash at bank and in hand54/58€260k€241k▼
Deferred charges and accrued income490/1€9k€14k▲
Equity and liabilities
Total equity and liabilities10/49€35.79M€32.34M▼
Equity10/15€2.89M€3.53M▲
Contributions10/11€1.08M€1.48M▲
Reserves13€1.81M€2.05M▲
Non-distributable reserves130/1€5k€5k=
Reserves not available under the articles1311€5k€5k=
Distributable reserves133€1.80M€2.05M▲
Profit (loss) carried forward14€907€907=
Amounts payable17/49€32.89M€28.81M▼
Amounts payable after more than one year17€31.92M€27.71M▼
Financial debts170/4€31.92M€27.71M▼
Amounts payable within one year42/48€973k€1.10M▲
Current portion of amounts payable after more than one year42€615k€761k▲
Financial debts43€24k-
Credit institutions430/8€24k-
Trade debts44€255k€99k▼
Suppliers440/4€255k€99k▼
Taxes, remuneration and social security45€79k€85k▲
Taxes450/3€79k€85k▲
Other amounts payable47/48€8€154k▲
Accrued charges and deferred income492/3€350-
Income statement
Code20242025
Remuneration, social security and pensions62€94k€149k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€950k€1.01M▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€8k
Other operating charges640/8€72k€174k▲
Gross operating margin9900€1.59M€2.77M▲
Operating profit (loss)9901€471k€1.43M▲
Financial income75/76B€851k€48▼
Recurring financial income75€851k€48▼
Financial charges65/66B€1.28M€1.15M▼
Recurring financial charges65€1.28M€1.15M▼
Profit (loss) for the period before taxes9903€41k€274k▲
Income taxes67/77€23k€29k▲
Profit (loss) for the period9904€17k€245k▲
Transfer from tax-exempt reserves789€211k-
Profit (loss) for the period to be appropriated9905€228k€245k▲
Appropriation of the result
Profit (loss) to be appropriated9906€229k€246k▲
Profit (loss) brought forward from the previous period14P€907€907=
Transfer to equity691/2€227k€245k▲
To other reserves6921€227k€245k▲
Profit to be distributed694/7€833-
Return on contributions (dividend)694€833-
The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €941k | €1.81M | - | - | - | - |
| Remuneration, social security and pensions62 | €32k | €34k | €74k | €94k | €149k | ▲ 59.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €587k | €932k | €1.06M | €950k | €1.01M | ▲ 6.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €8k | - |
| Other operating charges640/8 | €37k | €53k | €34k | €72k | €174k | ▲ 140% |
| Non-recurring operating charges66A | €1k | - | - | - | - | - |
| Gross operating margin9900 | €944k | €1.83M | €1.88M | €1.59M | €2.77M | ▲ 74.3% |
| Operating profit (loss)9901 | €288k | €817k | €709k | €471k | €1.43M | ▲ 203% |
| Financial income75/76B | €3k | €3k | €263k | €851k | €48 | ▼ 100.0% |
| Recurring financial income75 | €3k | €3k | €263k | €851k | €48 | ▼ 100.0% |
| Financial charges65/66B | €232k | €300k | €688k | €1.28M | €1.15M | ▼ 10.1% |
| Recurring financial charges65 | €232k | €300k | €688k | €1.28M | €1.15M | ▼ 10.1% |
| Profit (loss) for the period before taxes9903 | €59k | €520k | €284k | €41k | €274k | ▲ 573% |
| Income taxes67/77 | €9k | €151k | €43k | €23k | €29k | ▲ 25.6% |
| Profit (loss) for the period9904 | €50k | €369k | €241k | €17k | €245k | ▲ 1,302% |
| Transfer from tax-exempt reserves789 | - | - | - | €211k | - | - |
| Transfer to tax-exempt reserves689 | - | €133k | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €50k | €236k | €241k | €228k | €245k | ▲ 7.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €14.48M | €18.46M | €26.15M | €35.79M | €32.34M | ▼ 9.6% |
| Fixed assets21/28 | €13.80M | €17.17M | €24.73M | €25.40M | €22.07M | ▼ 13.1% |
| Tangible fixed assets22/27 | €12.92M | €16.29M | €23.86M | €24.52M | €20.48M | ▼ 16.5% |
| Land and buildings22 | €12.82M | €16.08M | €23.63M | €24.04M | €20.06M | ▼ 16.6% |
| Plant, machinery and equipment23 | €89k | €113k | €111k | €107k | €104k | ▼ 2.5% |
| Furniture and vehicles24 | €16k | €98k | €111k | €371k | €312k | ▼ 16.0% |
| Financial fixed assets28 | €876k | €876k | €876k | €876k | €1.59M | ▲ 81.4% |
| Current assets29/58 | €684k | €1.29M | €1.42M | €10.39M | €10.27M | ▼ 1.1% |
| Stocks and contracts in progress3 | - | - | - | €8.33M | €8.50M | ▲ 2.0% |
| Stocks30/36 | - | - | - | €8.33M | €8.50M | ▲ 2.0% |
| Amounts receivable within one year40/41 | €361k | €586k | €861k | €1.79M | €1.51M | ▼ 15.2% |
| Trade receivables40 | - | - | - | €1.05M | €1.21M | ▲ 15.3% |
| Other amounts receivable41 | €361k | €586k | €861k | €739k | €307k | ▼ 58.4% |
| Cash at bank and in hand54/58 | €292k | €696k | €551k | €260k | €241k | ▼ 7.2% |
| Deferred charges and accrued income490/1 | €31k | €7k | €8k | €9k | €14k | ▲ 56.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €14.48M | €18.46M | €26.15M | €35.79M | €32.34M | ▼ 9.6% |
| Equity10/15 | €1.23M | €1.60M | €1.84M | €2.89M | €3.53M | ▲ 22.1% |
| Contributions10/11 | €50k | €50k | €50k | €1.08M | €1.48M | ▲ 36.4% |
| Capital10 | €50k | €50k | - | - | - | - |
| Issued capital100 | €50k | €50k | - | - | - | - |
| Reserves13 | €1.18M | €1.55M | €1.79M | €1.81M | €2.05M | ▲ 13.5% |
| Non-distributable reserves130/1 | €5k | €5k | €5k | €5k | €5k | = |
| Legal reserve130 | €5k | €5k | - | - | - | - |
| Reserves not available under the articles1311 | - | - | €5k | €5k | €5k | = |
| Tax-exempt reserves132 | €78k | €211k | €211k | - | - | - |
| Distributable reserves133 | €1.10M | €1.34M | €1.58M | €1.80M | €2.05M | ▲ 13.6% |
| Profit (loss) carried forward14 | €907 | €907 | €907 | €907 | €907 | = |
| Amounts payable17/49 | €13.25M | €16.86M | €24.31M | €32.89M | €28.81M | ▼ 12.4% |
| Amounts payable after more than one year17 | €12.90M | €16.41M | €23.75M | €31.92M | €27.71M | ▼ 13.2% |
| Financial debts170/4 | €12.90M | €16.41M | €23.75M | €31.92M | €27.71M | ▼ 13.2% |
| Amounts payable within one year42/48 | €354k | €441k | €557k | €973k | €1.10M | ▲ 12.8% |
| Current portion of amounts payable after more than one year42 | €137k | €286k | €326k | €615k | €761k | ▲ 23.6% |
| Financial debts43 | €17k | €18k | €38k | €24k | - | - |
| Credit institutions430/8 | - | - | €113 | €24k | - | - |
| Other loans439 | €17k | €18k | €37k | - | - | - |
| Trade debts44 | €136k | €107k | €148k | €255k | €99k | ▼ 61.3% |
| Suppliers440/4 | €136k | €107k | €148k | €255k | €99k | ▼ 61.3% |
| Taxes, remuneration and social security45 | €28k | €29k | €43k | €79k | €85k | ▲ 7.6% |
| Taxes450/3 | €26k | €27k | €38k | €79k | €85k | ▲ 7.6% |
| Remuneration and social security454/9 | €2k | €3k | €5k | - | - | - |
| Other amounts payable47/48 | €36k | - | €2k | €8 | €154k | ▲ 2,039,841% |
| Accrued charges and deferred income492/3 | - | - | €350 | €350 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €50k | €369k | €241k | €17k | €245k | ▲ 1,302% |
| + Depreciation and write-downs630 | €587k | €932k | €1.06M | €950k | €1.01M | ▲ 6.2% |
| Operating cash flow (approximation) | €637k | €1.30M | €1.30M | €968k | €1.25M | ▲ 29.6% |
| Investment in fixed assets (approximation) | - | €-4.30M | €-8.62M | €-1.62M | €2.32M | ▲ 244% |
| Change in cash | - | €404k | €-145k | €-292k | €-19k | ▲ 93.6% |
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
09-09
State Gazette act
Incorporation · Founder
Founding capital · Legal form clause
30-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
10-03
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet €17k ▼92.8%
Net result drops to €17k, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity quadruplescurrent ratio 10.67
Current ratio from 2.55 to 10.67.
31-12
Financial
Equity above €2MEq €2.89M ▲57%
7 profitable years in a row build equity to €2.89M.
05-03
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-03
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 61 days late
2021
31-12
Financial
Liquidity doublescurrent ratio 1.93
Current ratio from 0.80 to 1.93; short-term debt falls from €650k to €354k.
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Equity above €1MEq €1.18M ▲19%
3 profitable years in a row build equity to €1.18M.
Show earlier events
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 31 days late
2019
31-12
Financial
Highest result since 2018net €393k ▲459%
Net result €393k, the highest in the series.
31-12
Financial
Liquidity quadruplescurrent ratio 4.14
Current ratio from 0.93 to 4.14; short-term debt falls from €307k to €286k.
30-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
30-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
05-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 10 acts read
About the unread acts
We know of 10 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
10 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, Gent · 1 establishment unit since 2011
Ground area
354 m²
Building footprint
396 m²
Volume, LiDAR
5,102 m³
Parcel 44803C0496/00K000, Flanders · tallest building 18.7 m, ±4 floors. Linked by address, not a title deed.
10
companies at this address
See who is registered here
1 establishment unit
MONSAERT
since 20112.197.395.735
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44803C0496/00K000 | Flanders | 354 m² | 1 · 396 m² | 18.7 m · 4 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.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
Structure & network
Ownership & control
1 board mandateBoard mandates of this companythis company sits on their board1
1 location
Public money · subsidies and aid
Flemish government
2023 to 2025 · 3 entries · 200,000 EUR awarded · 200,000 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 0 EUR | 100,000 EUR |
| 2024 | 1 | 0 EUR | 100,000 EUR |
| 2023 | 1 | 200,000 EUR | 0 EUR |
Schemes
Erfgoedpremie voor beschermde monumenten en landschappen - standaardprocedure
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Identification & contact
Identification
Legal formPrivate limited company
Founded21-03-2011
Fiscal year end31-12
Activities, NACEBEL 2025
68110Buying and selling of own real estate
Scores and ratios are computed by Checked and are not a credit decision.