Checked.be
Active
BE 0822.932.261Private limited company
Morpheus Projects & Management
Kasterlindenstraat 67 ·1082 Sint-Agatha-Berchem, Belgium· 16 yrs active
Sector: Business and other management consultancy
(70200)
Conclusion
Morpheus Projects & Management has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €62k and a net result of €53. Equity is growing by ~4.2% per year across the filed fiscal years. Its solvency ranks better than 23% of 8388 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Based on the State Gazette, CBE and 5 annual accounts.
Key figures
| Equity | €62k |
| Net result | €53 |
| Better than sector | 23% |
| Active | 16 yrs |
Financial profile
41
/ 100
Fragile profile, watch profitability in particular.
All 5 axes are computed from data Checked has read.
Health
36
Profitability
0
Solvency
17
Growth
52
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Established
Founded in 2010, 16 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
36
/ 100
Weak
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€2k
estimate, not credit advice
Score history
43
2021
36
2022
44
2023
36
2024
36
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 0.54 (< 1.0)
-10
Quick ratio
Quick ratio 0.54 (< 0.6)
-5
Leverage
Debt/equity 3.79 (> 3.0)
-10
Profitability
ROE 0%
+3
Interest coverage
Interest coverage 20.8× (≥ 3×)
+8
Profit trend
Net profit down YoY
-3
Equity growth
Equity growing YoY
+3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 09-07-2026 with the NBB · fiscal year 2025 · abbreviated schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
volatile
Too volatile to project: the yearly deviation from the trend is ~54% of the level (threshold 35%). We therefore deliberately show no projection line.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 70, Activities of head offices; management consultancy activities · compared within the same schema type (abbreviated schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 20.9% | 53.1% | |
| Net result | €53 | €38k | |
| Equity | €62k | €354k | |
| Gross operating margin | €12k | €87k | |
| Total assets | €296k | €923k |
€9k
-6.2%
21-25
€53
-77.7%
21-25
€7k
-4.9%
21-25
€296k
-3.2%
21-25
€62k
+0.1%
21-25
€-107k
-3.4%
21-25
€867
-6.2%
21-25
€234k
-4.0%
21-25
€234k
-0.1%
21-25
€10k
-51.9%
21-25
0.54
-2.8%
21-25
0.54
-2.8%
21-25
20.9%
+3.4%
21-25
3.79
-4.1%
21-25
0.1%
-77.7%
21-25
0.0%
-76.9%
21-25
20.82
+24.6%
21-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Deposit | abbreviated schema | micro schema | micro schema | micro schema | micro schema |
| Revenue | - | - | - | - | - |
| EBITDA | €9k | €9k | €17k | €14k | €60k |
| Net profit | €53 | €238 | €5k | €4k | €37k |
| Cash flow | €7k | €8k | €13k | €11k | €45k |
| Staff costs | - | - | - | - | - |
| Income taxes | €867 | €924 | €3k | €2k | €14k |
| Dividends | - | - | - | - | - |
| Total assets | €296k | €306k | €312k | €329k | €341k |
| Equity | €62k | €62k | €61k | €56k | €52k |
| Debt | €234k | €244k | €251k | €273k | €289k |
| of which ≤ 1y | €234k | €234k | €231k | €243k | €248k |
| of which > 1y | - | €10k | €20k | €30k | €41k |
| Working capital | €-107k | €-104k | €-101k | €-104k | €-105k |
| Employees (FTE) | - | - | - | - | - |
Note: these years are not on the same basis. The filed schemas differ (abbreviated schema, micro schema), so the columns are not directly comparable.
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 0.54 | 0.56 | 0.56 | 0.57 | 0.58 |
| Quick ratio | 0.54 | 0.56 | 0.56 | 0.57 | 0.58 |
| Working capital ratio | -36.3% | -34.0% | -32.4% | -31.5% | -30.7% |
| Solvency | 20.9% | 20.2% | 19.7% | 17.0% | 15.3% |
| Debt / equity | 3.79 | 3.95 | 4.08 | 4.87 | 5.53 |
| Long-term debt ratio | - | 0.16 | 0.33 | 0.54 | 0.78 |
| Interest coverage | 20.82 | 16.72 | 25.92 | 17.76 | 66.68 |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | 0.0% | 0.1% | 1.7% | 1.1% | 10.7% |
| ROE | 0.1% | 0.4% | 8.8% | 6.7% | 70.0% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (21 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €296k | €306k | €312k | €329k | €341k |
| Fixed assets | 21/28 | €169k | €175k | €183k | €190k | €198k |
| Tangible fixed assets | 22/27 | €169k | €175k | €183k | €190k | €198k |
| Current assets | 29/58 | €127k | €130k | €130k | €139k | €144k |
| Amounts receivable within one year | 40/41 | €45k | €22k | €453 | €224 | €86 |
| Cash & bank | 54/58 | €82k | €109k | €129k | €139k | €144k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €296k | €306k | €312k | €329k | €341k |
| Equity | 10/15 | €62k | €62k | €61k | €56k | €52k |
| Contributions / capital | 10/11 | €12k | €12k | €12k | €12k | €12k |
| Accumulated profits (losses) | 14 | €49k | €49k | €49k | €44k | €40k |
| Amounts payable | 17/49 | €234k | €244k | €251k | €273k | €289k |
| Amounts payable after one year | 17 | - | €10k | €20k | €30k | €41k |
| Amounts payable within one year | 42/48 | €234k | €234k | €231k | €243k | €248k |
| Trade debts payable within one year | 44 | €418 | €167 | €155 | €1k | €3k |
| Income statement | ||||||
| Gross operating margin | 9900 | €12k | €12k | €19k | €17k | €62k |
| Operating result | 9901 | €1k | €2k | €9k | €7k | €51k |
| Financial charges | 65 | €411 | €546 | €637 | €800 | €896 |
| Result before taxes | 9903 | €920 | €1k | €8k | €6k | €50k |
| Income taxes | 67/77 | €867 | €924 | €3k | €2k | €14k |
| Net result for the period | 9904 | €53 | €238 | €5k | €4k | €37k |
| Result to be appropriated | 9905 | €53 | €238 | €5k | €4k | €37k |
Legal Structure
| NACE primary | Business and other management consultancy(70200) |
| Legal form | Private limited company(610) |
| Incorporation | 05-02-2010 |
| Status | Active |
| Postal code | 1082 |
Establishment units
Morpheus Projects & Management
since 20102.185.093.264
Morpheus Projects & Management
since 20172.261.622.108
Real-estate footprint
Flanders
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21003A0016/00F004 | Brussels | 482 m² | 1 · 97 m² | 12.5 m · 3 fl. |
| 38014E0321/00B000 | Flanders | 356 m² | 1 · 91 m² | 25.3 m · 8 fl. |
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates
Next filing, fiscal year 2026, expected by
2026
09-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Weakest financial yearnet €53 ▼77.7%
Net result drops to €53, the lowest in the series.
29-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
29-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
10-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
27-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
12-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
28-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
02-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
19-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
26-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 57 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
Business and other management consultancy70200Business consulting70220
Names & trade names
| Legal nameNL | Morpheus Projects & Management |
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