MONTANA PROJECTS
ActiveSummary
MONTANA PROJECTS has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €144k and a net result of €4k. Equity is growing by ~9.2% per year across the filed fiscal years. Its solvency ranks better than 65% of 391 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability71▲+1
Solvency76▲+29
Growth52=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €11k at 30 days acceptable
Liquidity ample (current ratio 1.98 against 1.25 in 2024; short-term debt: 49.4% and cash: 48.9% of total assets), and 49.4% 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 59
Relative position
BE, all sectors
reference
Motion picture, video and television programme production, sound recording and music publishing activities (NACE 59)
about 37% fewer 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
50.6%
Return on assets
1.5%
Age of the figures
15 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 31-01-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
on the day
2023
366 d late
2022
35 d early
2021
on the day
2020
32 d early
2019
24 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close25-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€144k▲ 3.0%
2024 · €140k
2019: €78klowest in 7 years
2020: €86k▲ +9.9% vs 2019
2021: €112k▲ +31.3% vs 2020
2022: €120k▲ +6.8% vs 2021
2023: €132k▲ +10.5% vs 2022
2024: €140k▲ +5.4% vs 2023
2025: €144k▲ +3.0% vs 2024highest in 7 years
2019 → 2025
Total assets
€284k▼ 54.9%
2024 · €629k
2019: €495k
2020: €549k▲ +10.9% vs 2019
2021: €621k▲ +13.2% vs 2020
2022: €309k▼ -50.2% vs 2021
2023: €512k▲ +65.6% vs 2022
2024: €629k▲ +22.9% vs 2023highest in 7 years
2025: €284k▼ -54.9% vs 2024lowest in 7 years
2019 → 2025
Net result
€4k▼ 42.0%
2024 · €7k
2019: €18k
2020: €8k▼ -57.0% vs 2019
2021: €27k▲ +246% vs 2020highest in 7 years
2022: €8k▼ -71.5% vs 2021
2023: €13k▲ +64.7% vs 2022
2024: €7k▼ -43.3% vs 2023
2025: €4k▼ -42.0% vs 2024lowest in 7 years
2019 → 2025
Working capital
€137k▲ 13.7%
2024 · €120k
2019: €77klowest in 7 years
2020: €85k▲ +10.6% vs 2019
2021: €111k▲ +30.7% vs 2020
2022: €119k▲ +7.1% vs 2021
2023: €105k▼ -12.2% vs 2022
2024: €120k▲ +15.0% vs 2023
2025: €137k▲ +13.7% vs 2024highest in 7 years
2019 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€112k-€120k▲ 6.8%€132k▲ 10.5%€140k▲ 5.4%€144k▲ 3.0%
2021: €112klowest in 5 years
2022: €120k▲ +6.8% vs 2021
2023: €132k▲ +10.5% vs 2022
2024: €140k▲ +5.4% vs 2023
2025: €144k▲ +3.0% vs 2024highest in 5 years
Operating result€37k-€18k▼ 51.6%€18k▲ 2.5%€15k▼ 18.6%€8k▼ 46.1%
2021: €37khighest in 5 years
2022: €18k▼ -51.6% vs 2021
2023: €18k▲ +2.5% vs 2022
2024: €15k▼ -18.6% vs 2023
2025: €8k▼ -46.1% vs 2024lowest in 5 years
Net result€27k-€8k▼ 71.5%€13k▲ 64.7%€7k▼ 43.3%€4k▼ 42.0%
2021: €27khighest in 5 years
2022: €8k▼ -71.5% vs 2021
2023: €13k▲ +64.7% vs 2022
2024: €7k▼ -43.3% vs 2023
2025: €4k▼ -42.0% vs 2024lowest in 5 years
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 has fallen two years in a row; 2025 is 46% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €284k
Fixed assets
€7k ▼ 63.6%
Current assets
€277k ▼ 54.6%
Equity and liabilities €284k
Equity
€144k ▲ 3.0%
Debt
€140k ▼ 71.4%
Debt's share of the balance-sheet total falls from 77.8% to 49.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€20k▼
2024 · €27k
Cash flow
€16k▼
2024 · €19k
Current ratio
1.98▲
2024 · 1.25
Debt to equity
0.98▼
2024 · 3.51
ROE
2.9%▼
2024 · 5.1%
ROA
1.5%▲
2024 · 1.1%
Interest coverage
19.09▼
2024 · 99.03
Debt ≤ 1 year
€140k▼
2024 · €490k
Income taxes
€4k▼
2024 · €7k
Staff costs
€20k▼
2024 · €41k
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 · 41 lines
Balance sheet
Code20242025
Assets
Total assets20/58€629k€284k▼
Fixed assets21/28€19k€7k▼
Tangible fixed assets22/27€19k€7k▼
Furniture and vehicles24€19k€7k▼
Current assets29/58€610k€277k▼
Amounts receivable within one year40/41€267k€138k▼
Trade receivables40€261k€135k▼
Other amounts receivable41€6k€3k▼
Cash at bank and in hand54/58€301k€139k▼
Deferred charges and accrued income490/1€42k-
Equity and liabilities
Total equity and liabilities10/49€629k€284k▼
Equity10/15€140k€144k▲
Contributions10/11€19k€19k=
Reserves13€121k€125k▲
Distributable reserves133€121k€125k▲
Amounts payable17/49€490k€140k▼
Amounts payable within one year42/48€490k€140k▼
Current portion of amounts payable after more than one year42€10k€6k▼
Trade debts44€351k€100k▼
Suppliers440/4€351k€100k▼
Taxes, remuneration and social security45€19k€15k▼
Taxes450/3€8k€5k▼
Remuneration and social security454/9€12k€10k▼
Other amounts payable47/48€110k€19k▼
Income statement
Code20242025
Remuneration, social security and pensions62€41k€20k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€12k€12k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€7k-
Other operating charges640/8€10k€12k▲
Gross operating margin9900€85k€53k▼
Operating profit (loss)9901€15k€8k▼
Financial income75/76B€3€914▲
Recurring financial income75€3€914▲
Financial charges65/66B€271€1k▲
Recurring financial charges65€271€1k▲
Profit (loss) for the period before taxes9903€14k€8k▼
Income taxes67/77€7k€4k▼
Profit (loss) for the period9904€7k€4k▼
Profit (loss) for the period to be appropriated9905€7k€4k▼
Appropriation of the result
Profit (loss) to be appropriated9906€7k€4k▼
Transfer to equity691/2€7k€4k▼
To other reserves6921€7k€4k▼
The notes to these accounts (4 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €22k | €41k | €20k | ▼ 49.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €729 | €281 | €7k | €12k | €12k | ▲ 1.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €7k | - | - |
| Other operating charges640/8 | - | €7k | €21k | €10k | €12k | ▲ 15.4% |
| Gross operating margin9900 | €56k | €25k | €68k | €85k | €53k | ▼ 38.0% |
| Operating profit (loss)9901 | €37k | €18k | €18k | €15k | €8k | ▼ 46.1% |
| Financial income75/76B | - | €18 | €0 | €3 | €914 | ▲ 28,911% |
| Recurring financial income75 | €95 | €18 | €0 | €3 | €914 | ▲ 28,911% |
| Financial charges65/66B | - | €6k | €233 | €271 | €1k | ▲ 291% |
| Recurring financial charges65 | €9k | €6k | €233 | €271 | €1k | ▲ 291% |
| Profit (loss) for the period before taxes9903 | €27k | €12k | €18k | €14k | €8k | ▼ 46.2% |
| Income taxes67/77 | €597 | €4k | €5k | €7k | €4k | ▼ 50.2% |
| Profit (loss) for the period9904 | €27k | €8k | €13k | €7k | €4k | ▼ 42.0% |
| Profit (loss) for the period to be appropriated9905 | €27k | €8k | €13k | €7k | €4k | ▼ 42.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €621k | €309k | €512k | €629k | €284k | ▼ 54.9% |
| Fixed assets21/28 | €1k | €843 | €28k | €19k | €7k | ▼ 63.6% |
| Tangible fixed assets22/27 | €1k | €843 | €28k | €19k | €7k | ▼ 63.6% |
| Furniture and vehicles24 | - | €843 | €28k | €19k | €7k | ▼ 63.6% |
| Current assets29/58 | €620k | €308k | €484k | €610k | €277k | ▼ 54.6% |
| Stocks and contracts in progress3 | €330k | - | - | - | - | - |
| Amounts receivable within one year40/41 | €169k | €137k | €238k | €267k | €138k | ▼ 48.3% |
| Trade receivables40 | - | €131k | €213k | €261k | €135k | ▼ 48.3% |
| Other amounts receivable41 | - | €6k | €26k | €6k | €3k | ▼ 51.3% |
| Cash at bank and in hand54/58 | €121k | €171k | €246k | €301k | €139k | ▼ 53.8% |
| Deferred charges and accrued income490/1 | - | - | - | €42k | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €621k | €309k | €512k | €629k | €284k | ▼ 54.9% |
| Equity10/15 | €112k | €120k | €132k | €140k | €144k | ▲ 3.0% |
| Contributions10/11 | - | €19k | €19k | €19k | €19k | = |
| Reserves13 | €94k | €101k | €114k | €121k | €125k | ▲ 3.4% |
| Non-distributable reserves130/1 | - | €2k | - | - | - | - |
| Reserves not available under the articles1311 | - | €2k | - | - | - | - |
| Distributable reserves133 | - | €99k | €114k | €121k | €125k | ▲ 3.4% |
| Amounts payable17/49 | €509k | €189k | €380k | €490k | €140k | ▼ 71.4% |
| Amounts payable within one year42/48 | €509k | €189k | €380k | €490k | €140k | ▼ 71.4% |
| Current portion of amounts payable after more than one year42 | - | - | €14k | €10k | €6k | ▼ 38.7% |
| Trade debts44 | €116k | €50k | €241k | €351k | €100k | ▼ 71.5% |
| Suppliers440/4 | - | €50k | €241k | €351k | €100k | ▼ 71.5% |
| Taxes, remuneration and social security45 | - | €7k | €34k | €19k | €15k | ▼ 21.5% |
| Taxes450/3 | - | €7k | €14k | €8k | €5k | ▼ 36.2% |
| Remuneration and social security454/9 | - | - | €20k | €12k | €10k | ▼ 12.0% |
| Other amounts payable47/48 | - | €132k | €90k | €110k | €19k | ▼ 82.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €27k | €8k | €13k | €7k | €4k | ▼ 42.0% |
| + Depreciation and write-downs630 | €729 | €281 | €7k | €12k | €12k | ▲ 1.5% |
| Operating cash flow (approximation) | €27k | €8k | €19k | €19k | €16k | ▼ 14.6% |
| Investment in fixed assets (approximation) | - | €0 | €-34k | €-4k | €0 | ▲ 100% |
| Change in cash | - | €51k | €75k | €55k | €-162k | ▼ 396% |
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
31-01
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
30-06
Financial
Weakest financial yearnet €4k ▼42%
Net result drops to €4k, the lowest in the series.
31-01
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
31-01
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 366 days late
2022
27-12
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
31-01
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-06
Financial
Highest result since 2019net €27k ▲246%
Operating result €37k, net result €27k, both a record.
30-06
Financial
Equity above €100kEq €112k ▲31.3%
3 profitable years in a row build equity to €112k.
2020
30-12
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
07-01
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
29-01
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
30-01
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
24-01
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Vorselaar · 1 establishment unit since 2004
Ground area
1,004 m²
Building footprint
184 m²
Volume, LiDAR
854 m³
Parcel 13044E0210/00R000, Flanders · tallest building 7.0 m, ±2 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
Montana Media
since 20042.137.967.793
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13044E0210/00R000 | Flanders | 1,004 m² | 1 · 184 m² | 7.0 m · 2 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.
Similar companies · same sector, comparable size
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BE 0847.824.837
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Of 484 companies in sector 59112 we hold annual accounts for 248. 190 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
Founded20-04-2004
Fiscal year end30-06
Activities, NACEBEL 2025
59112Motion picture, video and television programme production, sound recording and music publishing activities
59113Video and film production, excluding cinema and television films
59114Motion picture, video and television programme production, sound recording and music publishing activities
59130Motion picture, video and television programme production, sound recording and music publishing activities
64210Activities of holding companies
68110Buying and selling of own real estate
68310Real estate agency activities
68322Real estate appraisal on a fee or contract basis
73300Public relations and communication consultancy
82300Organisation of conventions and trade shows
82990Other business support services
90202Performing arts by artistic ensembles
90312Arts creation and performing arts activities
Scores and ratios are computed by Checked and are not a credit decision.