Morjo
ActiveMorjo has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €179k and a net result of €21k. Equity is growing by ~16.5% per year across the filed fiscal years. Its solvency ranks better than 90% of 623 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
88
/ 100
Excellent
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability82▼-1
Solvency100▲+19
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €15k at 30 days acceptable
Liquidity ample (current ratio 7.86 against 2.12 in 2024; short-term debt: 11.8% and cash: 16.2% of total assets), and 11.8% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six 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 74
Relative position
BE, all sectors
reference
Sector 74
lower
← 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
88.2%
Return on assets
10.5%
Age of the figures
15 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 30-06-2025 was due by 31-01-2026 and was filed on 28-01-2026, 3 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
3 d early
2024
3 d late
2023
2 d early
2022
on the day
2021
on the day
2020
on the day
2019
on the day
← before the deadline
after the deadline →
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 close17-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€179k▲ 13.6%
2024 · €158k
2019: €91k
2020: €119k
2021: €79k
2022: €106k
2023: €126k
2024: €158k
2019 → 2025
Total assets
€203k▼ 28.0%
2024 · €282k
2019: €210k
2020: €225k
2021: €190k
2022: €232k
2023: €239k
2024: €282k
2019 → 2025
Net result
€21k▼ 32.9%
2024 · €32k
2019: €28k
2020: €28k
2021: €-40k
2022: €28k
2023: €20k
2024: €32k
2019 → 2025
Working capital
€165k▲ 18.7%
2024 · €139k
2019: €96k
2020: €120k
2021: €79k
2022: €105k
2023: €115k
2024: €139k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€79k-€106k▲ 35.1%€126k▲ 18.4%€158k▲ 25.3%€179k▲ 13.6%
Operating result€-40k-€28k€21k▼ 27.2%€48k▲ 135%€33k▼ 32.1%
Net result€-40k-€28k€20k▼ 29.1%€32k▲ 62.6%€21k▼ 32.9%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 32% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €203k
Fixed assets
€15k▼ 23.7%
Current assets
€189k▼ 28.3%
Equity and liabilities €203k
Equity
€179k▲ 13.6%
Debt
€24k▼ 80.7%
The debt ratio falls from 44.1% to 11.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€39k▼
2024 · €53k
Cash flow
€28k▼
2024 · €36k
Solvency
88.2%▲
2024 · 55.9%
Current ratio
7.86▲
2024 · 2.12
Quick ratio
7.86▲
2024 · 2.12
Debt / equity
0.13▼
2024 · 0.79
ROE
11.9%▼
2024 · 20.2%
ROA
10.5%▼
2024 · 11.3%
Interest coverage
18.80▼
2024 · 249.77
Debt
€24k▼
2024 · €124k
Debt ≤ 1 year
€24k▼
2024 · €124k
Income taxes
€10k▼
2024 · €16k
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€282k€203k▼
Fixed assets21/28€19k€15k▼
Tangible fixed assets22/27€19k€15k▼
Plant, machinery and equipment23€7k€6k▼
Furniture and vehicles24€12k€9k▼
Current assets29/58€263k€189k▼
Amounts receivable within one year40/41€12k€54k▲
Trade receivables40€12k€51k▲
Other amounts receivable41-€2k
Current investments50/53€84k€102k▲
Cash at bank and in hand54/58€167k€33k▼
Equity and liabilities
Total equity and liabilities10/49€282k€203k▼
Equity10/15€158k€179k▲
Contributions10/11€6k€6k=
Reserves13€145k€166k▲
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€143k€164k▲
Profit (loss) carried forward14€7k€7k=
Amounts payable17/49€124k€24k▼
Amounts payable within one year42/48€124k€24k▼
Trade debts44€4k€2k▼
Suppliers440/4€4k€2k▼
Taxes, remuneration and social security45€84k€18k▼
Taxes450/3€27k€10k▼
Remuneration and social security454/9€58k€8k▼
Other amounts payable47/48€36k€4k▼
Income statement
Code20242025
Non-recurring operating income76A-€3k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€5k€6k▲
Other operating charges640/8€2k€2k▲
Gross operating margin9900€55k€41k▼
Operating profit (loss)9901€48k€33k▼
Financial income75/76B€353€710▲
Recurring financial income75€353€710▲
Financial charges65/66B€211€2k▲
Recurring financial charges65€211€2k▲
Profit (loss) for the period before taxes9903€48k€31k▼
Income taxes67/77€16k€10k▼
Profit (loss) for the period9904€32k€21k▼
Profit (loss) for the period to be appropriated9905€32k€21k▼
Appropriation of the result
Profit (loss) to be appropriated9906€39k€28k▼
Profit (loss) brought forward from the previous period14P€7k€7k=
Transfer to equity691/2€32k€21k▼
To other reserves6921€32k€21k▼
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
28-01
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
30-06
Financial
Liquidity quadruplescurrent ratio 7.86
Current ratio from 2.12 to 7.86; short-term debt falls from €124k to €24k.
03-02
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 3 days late
2024
30-06
Financial
Highest result since 2019net €32k ▲62.6%
Operating result €48k, net result €32k, both a record.
30-06
Financial
Equity above €150kEq €158k ▲25.3%
3 profitable years in a row build equity to €158k.
29-01
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-01
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
30-06
Financial
Back to profitnet €28k
Net result €28k after one loss-making year.
30-06
Financial
Equity above €100kEq €106k ▲35.1%
Equity rises from €79k to €106k.
31-01
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-06
Financial
Weakest financial yearnet €-40k ▼245%
Net result drops to €-40k, the lowest in the series; recovery starts the following year.
31-01
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
30-06
Financial
Equity above €100kEq €119k ▲30.6%
2 profitable years in a row build equity to €119k.
31-01
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-01
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
30-01
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
30-01
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.
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, Geraardsbergen · 1 establishment unit since 2011
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.
Grijsdauwe(Sme) 69506 GeraardsbergenGround area
1,544 m²
Building footprint
185 m²
Volume, LiDAR
1,057 m³
Parcel 41065A0511/00D000, Flanders · tallest building 8.7 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
MORJO
since 20112.206.441.677
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41065A0511/00D000 | Flanders | 1,544 m² | 1 · 185 m² | 8.7 m · 2 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.
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Of 1,236 companies in sector 74140 we hold annual accounts for 352. 268 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company (pre-2019)
Founded29-12-2011
Fiscal year end30-06
Activities, NACEBEL
74109Other professional, scientific and technical activities
74140Other specialised design activities
43320Joinery installation
43332Laying of wooden floor and wall coverings
Sources
Crossroads Bank for EnterprisesNational Bank · 13 filingsAddress and cadastre registers
Data from official sources, last processed on 17-09-2026. Scores and ratios are computed by Checked and are not a credit decision.