MORGENROOD

Active

Private limited companyfounded 20206 yrs activeTervuursevest 21, 3001 Leuven, BelgiumKBO/BCE: BE 0744.397.596

MORGENROOD has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €7k and a net result of €61k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 14% of 16906 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).

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Checked score

Score 2025

73 / 100

Healthy= vs 2024

The score combines four axes. Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability100=

Solvency19▼-6

Growth58▼-20

Stability100

Bankruptcy probability, 12 months

0.4% Very low

0%0.5%1.5%4%10%≥ 25%

Credit up to €500 at 30 days acceptable

Liquidity tight (current ratio 1.07 against 1.14 in 2024), and 91% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Seven signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Lower-failure-rate sector

In this sector companies fail less often than the Belgian average.

Gazette · bankruptcies per sector, NACE 62

Relative position

BE, all sectors

reference

Sector 62

lower

← fewer bankruptcies more bankruptcies →

Limited track record

This company has not been active as long as an established one and statistically fails somewhat more often.

KBO · incorporation date

Age against the risk zone

Annual accounts: healthy financial profile

The latest annual accounts show a healthy profile in solvency, result and liquidity.

NBB · annual accounts 2025

Solvency, return and age of the figures

Solvency

Return on assets

74%

Age of the figures

11 mo

Weak solvency vs sector

Solvency (equity / total assets) is in the sector's weakest quartile: better than 14% of 16906 sector peers (2025).

NBB · sector comparison

Position among 16906 sector peers

Solvency

better than 14%

← weakest strongest →

Latest accounts filed on time

The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 27-04-2026, 3 days ahead of the deadline.

NBB · 6 filings

Deviation from the deadline

2025

3 d early

2024

23 d early

2023

4 d early

2022

11 d early

2021

1 d early

2020

30 d early

← before the deadline after the deadline →

The next deadline is still running

The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.

Companies Code · seven months

Position in the running window

12-09-2026 today30-09-2026 close30-04-2027 deadline

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2025, micro schema

Equity

€7k▼ 31.3%

2024 · €11k

2020: €8k 2021: €19k 2022: €39k 2023: €46k 2024: €11k

2020 → 2025

Total assets

€83k▲ 25.8%

2024 · €66k

2020: €28k 2021: €42k 2022: €71k 2023: €69k 2024: €66k

2020 → 2025

Net result

€61k▲ 38.5%

2024 · €44k

2020: €7k 2021: €11k 2022: €20k 2023: €33k 2024: €44k

2020 → 2025

Working capital

€5k▼ 26.8%

2024 · €7k

2020: €8k 2021: €19k 2022: €32k 2023: €41k 2024: €7k

2020 → 2025

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20212022202320242025Trend

Equity€19k-€39k▲ 102%€46k▲ 18.1%€11k▼ 76.3%€7k▼ 31.3%

Operating result€14k-€24k▲ 69.6%€42k▲ 73.0%€59k▲ 40.8%€82k▲ 38.1%

Net result€11k-€20k▲ 75.4%€33k▲ 68.7%€44k▲ 33.7%€61k▲ 38.5%

Turnover and EBIT margin not published: the micro schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result has risen four years in a row; 2025 is 38% above 2024 and is the highest year so far.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €83k

97.6%

Fixed assets €2k▼ 41.3%

Current assets €81k▲ 29.4%

Equity and liabilities €83k

91.0%

Equity €7k▼ 31.3%

Debt €75k▲ 37.0%

The debt ratio rises from 83.6% to 91.0%: debt grows while equity shrinks.

Key figures and ratios

2025 value · change against 2024

EBITDA

€83k▲

2024 · €61k

Cash flow

€63k▲

2024 · €46k

Solvency

9.0%▼

2024 · 16.4%

Current ratio

1.07▼

2024 · 1.14

Quick ratio

1.07▼

2024 · 1.14

Debt / equity

10.14▲

2024 · 5.08

ROE

824.0%▲

2024 · 408.6%

ROA

74.0%▲

2024 · 67.2%

Interest coverage

1918.34▲

2024 · 1558.91

Debt

€75k▲

2024 · €55k

Debt ≤ 1 year

€75k▲

2024 · €55k

Income taxes

€21k▲

2024 · €15k

Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.

Filed annual accounts

As filed with the NBB · 2025 against 2024

Balance sheet Code20242025

Assets

Total assets20/58€66k€83k▲

Fixed assets21/28€3k€2k▼

Tangible fixed assets22/27€3k€2k▼

Furniture and vehicles24€3k€2k▼

Current assets29/58€62k€81k▲

Amounts receivable within one year40/41€11k€12k▲

Trade receivables40€11k€12k▲

Cash at bank and in hand54/58€51k€68k▲

Deferred charges and accrued income490/1€722€945▲

Equity and liabilities

Total equity and liabilities10/49€66k€83k▲

Equity10/15€11k€7k▼

Contributions10/11€1k€1k=

Reserves13€10k€6k▼

Distributable reserves133€10k€6k▼

Amounts payable17/49€55k€75k▲

Amounts payable within one year42/48€55k€75k▲

Trade debts44€108€110▲

Suppliers440/4€108€110▲

Taxes, remuneration and social security45€13k€17k▲

Taxes450/3€13k€17k▲

Other amounts payable47/48€42k€58k▲

Income statement Code20242025

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1k€1k=

Other operating charges640/8€670€641▼

Gross operating margin9900€61k€84k▲

Operating profit (loss)9901€59k€82k▲

Financial charges65/66B€39€44▲

Recurring financial charges65€39€44▲

Profit (loss) for the period before taxes9903€59k€82k▲

Income taxes67/77€15k€21k▲

Profit (loss) for the period9904€44k€61k▲

Profit (loss) for the period to be appropriated9905€44k€61k▲

Appropriation of the result

Profit (loss) to be appropriated9906€44k€61k▲

Transfer from equity791/2€35k€10k▼

Transfer to equity691/2€132€6k▲

To other reserves6921€132€6k▲

Profit to be distributed694/7€79k€65k▼

Return on contributions (dividend)694€79k€65k▼

The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 7Financial 1Filings 6

Next filing, fiscal year 2026, expected by 30-04-2027

2026

27-04

NBB filing Annual accounts filed

fiscal year 2025 · micro schema

2025

30-09

Financial Highest result since 2020net €61k ▲38.5%

Operating result €82k, net result €61k, both a record.

07-04

NBB filing Annual accounts filed

fiscal year 2024 · micro schema

2024

26-04

NBB filing Annual accounts filed

fiscal year 2023 · micro schema

2023

19-04

NBB filing Annual accounts filed

fiscal year 2022 · micro schema

2022

29-04

NBB filing Annual accounts filed

fiscal year 2021 · micro schema

2021

31-03

NBB filing Annual accounts filed

fiscal year 2020 · micro schema

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

1 act for this company is 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, Leuven · 1 establishment unit since 2020

establishment The establishment unit on the map

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Tervuursevest 213001 Leuven

Ground area

2,369 m²

Building footprint

501 m²

Volume, LiDAR

28,217 m³

Parcel 24432D0158/00K000, Flanders · tallest building 58.8 m, ±19 floors. Linked by address, not a title deed.

1 establishment unit

MORGENROOD

Tervuursevest 21, 3001 LeuvenGeneral electrical installation work

since 20202.299.721.134

1 parcel

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
24432D0158/00K000	Flanders	2,369 m²	1 · 501 m²	58.8 m · 19 fl.

Linked by address, not proof of ownership

Methodology

via registered seat: 1

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

CLAIRSOFT

BE 1005.870.105

Sint-Gillis (bij-Brussel) · Eq €7k

Of 3,203 companies in sector 62900 we hold annual accounts for 1,735. 727 are within a factor 10 of this equity.See the whole sector

Company data · Crossroads Bank

Identification

Legal formPrivate limited company

Founded24-02-2020

Fiscal year end30-09

Activities, NACEBEL

62900Other information technology and computer services

62020IT consultancy

62200Computer consultancy and computer facilities management

70200Business and other management consultancy

70220Business consulting

Sources

Crossroads Bank for EnterprisesNational Bank · 6 filingsAddress and cadastre registers

Data from official sources, last processed on 12-09-2026. Scores and ratios are computed by Checked and are not a credit decision.