Equity
Equity fell by 92% in 5 years.
Equity fell by 92% in 5 years.
Of this, €73,844 falls due within a year.
Seven of the last ten came late. The 2021 accounts came latest: 29 days after the end of the period.
In July 2024, 1,448 companies had the same profile as MORE has now. Each dot stands for 4 companies, two years later.
Another 0.3% stopped without a precise date, possibly only after those two years.
The method was tested on the 497,762 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 | 2.9% | 3.1% |
| 10 | 5.6% | 6.1% |
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 1,448 companies, not a prediction for MORE. 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.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
| Company | ||||
|---|---|---|---|---|
| MORE Schoten | €491,767 | €85,461 | 2.6% | - |
| EUROPALLIANCE Namur | €448,818 | €92,096 | 80.6% | - |
| B & ML Bonheiden | €479,607 | €137,625 | 88.5% | 1 |
| ANCHORAGE Antwerp | €448,395 | €50,226 | 33.0% | - |
| VANHOUTTE CONSTRUCT Zwevegem | €702,813 | €89,434 | 6.0% | - |
| Idea on Air Gembloux | €409,092 | €63,483 | -1.8% | - |
| ZionMedia Evergem | €423,654 | €141,944 | 85.6% | - |
These companies have the same main activity as MORE: market research and public opinion polling (NACE 73200). They are comparable in size and age: total assets between €409,000 and €703,000, founded between 2007 and 2011.
MORE files the micro format. That format states no turnover. The gross margin rose from €61,223 in 2009 to €85,461 in 2025.
The balance sheet grew most in 2024 through fixed assets, financed with long-term debt.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €180,000. Estimated: probably between €160,000 and €240,000.
Higher than 15% of 9,119 companies in 2025.
Higher than 16% of 8,757 companies in 2025.
Higher than 29% of 8,885 companies in 2025.
Net result: middle half · Equity: bottom quarter · Balance sheet total: top quarter · Working capital: bottom quarter
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||||||||
20/58 |
491,767 | 525,749 | 208,149 | 248,756 | 251,904 | 416,202 | 298,246 | 343,134 | 195,789 | 190,187 | 188,542 | 174,549 | 203,331 | 202,457 | 216,794 | 211,972 | 84,117 | |
21/28 |
439,493 | 485,128 | 157,788 | 182,308 | 205,809 | 377,088 | 292,471 | 312,966 | 187,183 | 165,341 | 173,982 | 155,398 | 164,613 | 184,081 | 190,101 | 191,164 | 46,022 | |
22/27 |
439,493 | 485,128 | 157,788 | 182,308 | 205,809 | 222,088 | 137,471 | 157,966 | 32,183 | 10,341 | 18,982 | 398 | 9,613 | 29,081 | 35,101 | 36,164 | 46,022 | |
22 |
369,573 | 381,850 | 114,978 | 119,149 | 123,319 | 127,489 | 131,659 | 135,830 | - | - | - | - | - | - | - | - | - | |
23 |
16,251 | 19,793 | 7,974 | 10,016 | 12,058 | 9,500 | 5,812 | 6,707 | 1,007 | 217 | - | 104 | 4,223 | 11,432 | 18,819 | 24,559 | 12,816 | |
24 |
53,670 | 83,485 | 34,836 | 53,143 | 70,432 | 85,099 | - | 15,430 | 31,176 | 10,124 | 18,982 | 295 | 5,390 | 17,649 | 16,282 | 11,605 | 33,206 | |
28 |
- | - | - | - | - | 155,000 | 155,000 | 155,000 | 155,000 | 155,000 | 155,000 | 155,000 | 155,000 | 155,000 | 155,000 | 155,000 | - | |
29/58 |
52,274 | 40,621 | 50,361 | 66,448 | 46,095 | 39,114 | 5,775 | 30,168 | 8,606 | 24,846 | 14,560 | 19,151 | 38,718 | 18,377 | 26,694 | 20,809 | 38,095 | |
40/41 |
43,933 | 33,972 | 39,810 | 56,800 | 39,033 | 31,244 | 2,591 | 26,054 | 224 | 14,568 | 1,796 | 965 | 30,705 | 12,737 | 26,544 | 10,971 | 14,623 | |
40 |
- | 19,527 | 17,731 | 18,840 | 17,715 | 15,257 | 231 | 284 | 216 | 14,568 | - | 515 | 7,905 | 10,143 | 13,518 | 10,971 | 14,623 | |
41 |
43,933 | 14,445 | 22,079 | 37,960 | 21,318 | 15,987 | 2,359 | 25,770 | 8 | - | 1,796 | 450 | 22,800 | 2,594 | 13,026 | - | - | |
54/58 |
5,982 | 4,087 | 7,736 | 7,237 | 4,822 | 5,791 | 2,422 | 3,376 | 7,102 | 9,348 | 11,861 | 16,697 | 5,858 | 3,019 | 149 | 9,837 | 23,472 | |
490/1 |
2,359 | 2,562 | 2,814 | 2,411 | 2,240 | 2,079 | 762 | 738 | 1,280 | 930 | 903 | 1,489 | 2,155 | 2,621 | - | - | - | |
| Balance sheet: equity and liabilities | ||||||||||||||||||
10/49 |
491,767 | 525,749 | 208,149 | 248,756 | 251,904 | 416,202 | 298,246 | 343,134 | 195,789 | 190,187 | 188,542 | 174,549 | 203,331 | 202,457 | 216,794 | 211,972 | 84,117 | |
10/15 |
12,717 | 8,893 | 9,110 | 8,322 | 34,645 | 165,000 | 102,652 | 83,367 | 97,810 | 81,691 | 59,507 | 24,174 | 42,107 | 51,007 | 28,529 | 57,041 | 39,578 | |
10/11 |
6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | - | - | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | |
13 |
6,517 | 2,910 | 2,910 | 2,122 | 28,445 | 158,800 | 96,452 | 77,167 | 91,610 | 75,491 | 53,307 | 17,974 | 35,907 | 44,807 | 22,329 | 50,841 | 33,378 | |
130/1 |
5,467 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | - | - | - | - | - | - | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | |
1311 |
1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | - | - | - | - | - | - | - | - | - | - | - | |
1319 |
3,607 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
133 |
1,050 | 1,050 | 1,050 | 262 | 26,585 | 156,940 | 94,592 | 75,307 | 89,750 | 73,631 | 51,447 | 16,114 | 34,047 | 42,947 | 20,469 | 48,981 | 31,518 | |
14 |
- | -218 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
17/49 |
479,050 | 516,856 | 199,039 | 240,435 | 217,259 | 251,203 | 195,594 | 259,767 | 97,979 | 108,496 | 129,035 | 150,375 | 161,224 | 151,450 | 188,266 | 154,932 | 44,539 | |
17 |
405,206 | 392,347 | 95,796 | 127,115 | 158,064 | 188,647 | 144,378 | 165,074 | 35,060 | 10,965 | 39,076 | 44,245 | 63,809 | 91,070 | 107,023 | 143,878 | 29,636 | |
170/4 |
405,206 | 392,347 | 95,796 | 127,115 | 158,064 | 188,647 | 144,378 | 165,074 | 35,060 | 10,965 | 39,076 | 44,245 | 63,809 | 91,070 | 107,023 | 143,878 | 29,636 | |
42/48 |
73,844 | 124,508 | 103,243 | 113,320 | 59,195 | 62,556 | 51,118 | 94,605 | 62,919 | 97,531 | 78,779 | 106,130 | 97,413 | 60,380 | 81,243 | 9,121 | 13,178 | |
42 |
51,793 | 32,763 | 37,986 | 37,605 | 37,250 | 50,707 | 29,696 | 22,700 | 19,061 | 26,111 | 27,219 | 27,439 | 37,261 | 26,478 | 32,816 | - | - | |
43 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 262 | - | - | |
430/8 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 262 | - | - | |
44 |
1,568 | 70,727 | 8,234 | 1,099 | 1,231 | 1,532 | 1,204 | 4,437 | 3,492 | 1,708 | 1,029 | 3,394 | 2,083 | 2,657 | 4,114 | 1,339 | 7,653 | |
440/4 |
1,568 | 70,727 | 8,234 | 1,099 | 1,231 | 1,532 | 1,204 | 4,437 | 3,492 | 1,708 | 1,029 | 3,394 | 2,083 | 2,657 | 4,114 | 1,339 | 7,653 | |
45 |
20,482 | 21,018 | 31,123 | 32,616 | 20,715 | 10,317 | 20,218 | 42,968 | 36,224 | 42,649 | 40,459 | 46,805 | 33,069 | 31,244 | 31,030 | 6,409 | 5,177 | |
450/3 |
20,482 | 21,018 | 31,123 | 32,616 | 20,715 | 10,317 | 20,218 | 42,968 | 36,224 | 42,649 | 40,459 | 46,805 | 33,069 | 31,244 | 31,030 | 3,123 | 1,862 | |
454/9 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 3,286 | 3,315 | |
47/48 |
- | - | 25,900 | 42,000 | - | - | - | 24,500 | 4,141 | 27,063 | 10,072 | 28,491 | 25,000 | - | 13,021 | 1,373 | 348 | |
492/3 |
- | - | - | - | - | - | 98 | 88 | - | - | 11,180 | - | 2 | - | - | 1,934 | 1,725 | |
| Income statement | ||||||||||||||||||
76A |
- | - | - | - | - | 14,000 | - | 10,000 | - | - | 8,000 | - | - | 13,223 | 2,500 | - | - | |
9900 |
85,461 | 82,416 | 77,875 | 71,941 | 59,759 | 93,877 | 57,292 | 73,181 | 66,501 | 53,970 | 66,769 | 53,253 | 71,599 | 50,479 | 55,828 | 62,463 | 61,223 | |
630 |
45,635 | 32,509 | 24,519 | 24,905 | 24,324 | 6,881 | 20,495 | 20,920 | 25,570 | 9,916 | 9,726 | 9,215 | 20,135 | 20,740 | 27,671 | 28,993 | 24,921 | |
640/8 |
7,876 | 36,155 | 2,158 | 1,735 | 1,982 | 2,108 | 2,434 | 17,110 | 2,948 | 1,887 | 4,360 | 4,755 | 3,591 | 2,644 | 5,181 | 827 | 1,008 | |
66A |
- | - | - | - | 154,999 | - | - | - | - | 402 | - | 7,000 | - | - | - | - | - | |
9901 |
31,950 | 13,751 | 51,198 | 45,301 | -121,545 | 84,888 | 34,363 | 35,151 | 37,983 | 41,764 | 52,682 | 39,283 | 47,874 | 27,095 | 22,977 | 32,643 | 35,293 | |
75/76B |
1,271 | 981 | 1,600 | 1,822 | 1,172 | 901 | 937 | 664 | 1 | 0 | 233 | 6 | 19 | 942 | 85 | 28 | - | |
75 |
1,271 | 981 | 1,600 | 1,822 | 1,172 | 901 | 937 | 664 | 1 | 0 | 233 | 6 | 19 | 942 | 85 | 28 | - | |
65/66B |
18,025 | 12,709 | 2,794 | 2,755 | 2,312 | 2,841 | 3,199 | 1,997 | 1,974 | 2,674 | 3,323 | 3,231 | 3,693 | 4,353 | 4,660 | 2,001 | 1,915 | |
65 |
18,025 | 12,709 | 2,794 | 2,755 | 2,312 | 2,841 | 3,199 | 1,997 | 1,974 | 2,562 | 3,323 | 3,231 | 3,693 | 4,353 | 4,660 | 2,001 | 1,915 | |
66B |
- | - | - | - | - | - | - | - | - | 112 | - | - | - | - | - | - | - | |
9903 |
15,197 | 2,023 | 50,004 | 44,367 | -122,685 | 82,948 | 32,101 | 33,819 | 36,009 | 39,090 | 57,592 | 29,057 | 44,200 | 36,908 | 20,901 | 30,670 | 33,378 | |
67/77 |
11,372 | 2,241 | 12,215 | 10,690 | 7,670 | 20,600 | 12,817 | 13,261 | 19,891 | 16,906 | 22,259 | 14,990 | 19,767 | 14,429 | 12,324 | 13,207 | - | |
9904 |
3,825 | -218 | 37,789 | 33,677 | -130,355 | 62,348 | 19,285 | 20,558 | 16,118 | 22,184 | 35,333 | 14,067 | 24,433 | 22,479 | 8,577 | 17,463 | 33,378 | |
9905 |
3,825 | -218 | 37,789 | 33,677 | -130,355 | 62,348 | 19,285 | 20,558 | 16,118 | 22,184 | 35,333 | 14,067 | 24,433 | 22,479 | 8,577 | 17,463 | 33,378 | |
| Appropriation of the result | ||||||||||||||||||
9906 |
3,607 | -218 | 37,789 | 33,677 | -130,355 | 62,348 | 19,285 | 20,558 | 16,118 | 22,184 | 35,333 | 14,067 | 24,433 | 22,479 | 8,577 | 17,463 | 33,378 | |
14P |
-218 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
791/2 |
- | - | - | 26,323 | 130,355 | - | - | 14,442 | - | - | - | 17,933 | 8,900 | - | 7,904 | - | - | |
691/2 |
3,607 | - | 789 | - | - | 62,348 | 19,285 | - | 16,118 | 22,184 | 35,333 | - | - | 22,479 | - | 17,463 | 33,378 | |
6921 |
3,607 | - | 789 | - | - | 62,348 | 19,285 | - | 16,118 | 22,184 | 35,333 | - | - | 22,479 | - | 17,463 | 33,378 | |
694/7 |
- | - | 37,000 | 60,000 | - | - | - | 35,000 | - | - | - | 32,000 | 33,333 | - | 16,482 | - | - | |
694 |
- | - | 37,000 | 60,000 | - | - | - | 35,000 | - | - | - | 32,000 | 33,333 | - | 16,482 | - | - | |
| Document | ||||||||||||||||||
The notes to these accounts have 7 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 28-07-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 28-07-2026 | 2026-00380811 | |
| 31-12-2024 | micro format | 24-08-2025 | 2025-00399221 | |
| 31-12-2023 | micro format | 27-08-2024 | 2024-00385994 | |
| 31-12-2022 | micro format | 19-06-2023 | 2023-00144580 | |
| 31-12-2021 | micro format | 29-08-2022 | 2022-20387470 | |
| 31-12-2020 | micro format | 26-08-2021 | 2021-55700390 | |
| 31-12-2019 | micro format | 06-08-2020 | 2020-39700050 | |
| 31-12-2018 | micro format | 19-08-2019 | 2019-48500322 | |
| 31-12-2017 | micro format | 24-07-2018 | 2018-36800280 | |
| 31-12-2016 | micro format | 08-08-2017 | 2017-43400075 | |
| 31-12-2015 | abbreviated format | 22-08-2016 | 2016-45600263 | |
| 31-12-2014 | abbreviated format | 10-08-2015 | 2015-41900491 | |
| 31-12-2013 | abbreviated format | 25-08-2014 | 2014-45100489 | |
| 31-12-2012 | abbreviated format | 25-07-2013 | 2013-35000288 | |
| 31-12-2011 | abbreviated format | 03-08-2012 | 2012-37800091 | |
| 31-12-2010 | abbreviated format | 23-07-2011 | 2011-33200107 | |
| 31-12-2009 | abbreviated format | 16-08-2010 | 2010-40800569 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 77,585 | 46,261 | 75,718 | 70,206 | -97,222 | 91,769 | 54,858 | 56,071 | 63,553 | 51,680 | 62,408 | 48,498 | 68,008 | 47,835 | 50,647 | 61,636 | 60,214 | ||
| 49,460 | 32,292 | 62,308 | 58,582 | -106,031 | 69,229 | 39,780 | 41,478 | 41,689 | 32,100 | 45,059 | 23,282 | 44,568 | 43,219 | 36,248 | 46,456 | 58,299 | ||
| 0 | 359,849 | 0 | 1,404 | 8,045 | 91,498 | 0 | 146,703 | 47,413 | 1,878 | 28,310 | 0 | 667 | 14,720 | 24,018 | 174,135 | 70,943 | ||
| 1,895 | -3,650 | 499 | 2,415 | -969 | 3,369 | -954 | -3,725 | -2,246 | -2,513 | -4,836 | 10,840 | 2,838 | 2,870 | -9,688 | -13,634 | - | ||
| -21,570 | -83,888 | -52,882 | -46,871 | -13,100 | -23,441 | -45,343 | -64,437 | -54,313 | -72,685 | -64,219 | -86,979 | -58,695 | -42,003 | -54,549 | 11,688 | 24,917 | ||
| 2.6% | 1.7% | 4.4% | 3.3% | 13.8% | 39.6% | 34.4% | 24.3% | 50.0% | 43.0% | 31.6% | 13.8% | 20.7% | 25.2% | 13.2% | 26.9% | 47.1% | ||
| 0.71 | 0.33 | 0.49 | 0.59 | 0.78 | 0.63 | 0.11 | 0.32 | 0.14 | 0.25 | 0.18 | 0.18 | 0.40 | 0.30 | 0.33 | 2.28 | 2.89 | ||
| 37.67 | 58.12 | 21.85 | 28.89 | 6.27 | 1.52 | 1.91 | 3.12 | 1.00 | 1.33 | 2.17 | 6.22 | 3.83 | 2.97 | 6.60 | 2.72 | 1.13 | ||
| 30.1% | -2.4% | 414.8% | 404.7% | -376.3% | 37.8% | 18.8% | 24.7% | 16.5% | 27.2% | 59.4% | 58.2% | 58.0% | 44.1% | 30.1% | 30.6% | 84.3% | ||
| 0.8% | 0.0% | 18.2% | 13.5% | -51.7% | 15.0% | 6.5% | 6.0% | 8.2% | 11.7% | 18.7% | 8.1% | 12.0% | 11.1% | 4.0% | 8.2% | 39.7% | ||
| 4.30 | 3.64 | 27.10 | 25.48 | -42.05 | - | - | - | - | - | - | - | - | - | - | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Mortgages, amount registered | €180,000 | €180,000 | €155,000 | - | - |
| Carrying value of the mortgaged assets | €262,935 | €381,850 | €114,978 | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €359,849 | - | €1,404 | €8,045 |
| €45,635 | €32,509 | €24,519 | €24,905 | €24,324 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 132% higher than in 2024. It is a recovery after the fall in 2024.
Debt's share of the balance-sheet total falls from 98.3% to 97.4%. Equity is higher and debt is lower.
Source: shareholder structure in its own accounts
Source: list of holdings in its own 2020 accounts. Every holding stands with its own latest accounts.
| Moriau, Felix (sole trader)
establishment since 01-04-2026 |
founded in 2026 1037.699.862 |
| Name | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 |
|---|---|---|---|---|---|---|---|---|---|---|
| 15.5% | ||||||||||
Source: list of holdings in its own accounts
The network starts from the directors of MORE. Every other company they run is a node.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Nerviërslei 29 registered office 2900 Schoten | 27-11-2008 | 2.174.819.083 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 11040D0193/00B005 | 1,970 m² | 1 · 242 m² | 9.7 m · 2 |
If something looks wrong or is missing, please tell us.