Equity
-€91,931
Debts exceed assets in financial year 2025.
MORTENSEN
Lifetime
20 annual accounts with figures on one time axis, 40 filings since 1986peak €484,727 (2017)
€21,002▼ 64.3%
lowest -€138,089 (2022)
-€32,087▼ €46,543
peak €233,355 (2006)
-€91,931▼ €32,087
€577,842▲ 4.2%
peak 2.7 FTE (2006)
-not published
Board3 names since 2017
2 directorsCHUMPI EVENTS and 1 other
Documentsfilings and deeds
29-09-202660 days late
2025micro format
Gross margin from €58,808 to €21,002Loss of €32,087Equity from -€59,843 to -€91,931
Key points
from the 2025 annual accountsChecked score
53
Fair
Financially stronger than 19% of micro companies in real estate (NACE 68)
Probability in this band: 1.5% to 4.2%
Negative equity caps the score at 59.
Bankruptcy probability within 12 months
0.8% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.2% across 26,627 companies (NACE 68, micro).
About 8 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.4%
01-2025: 0.4%● unchanged vs 12-2024
02-2025: 0.4%● unchanged vs 01-2025
03-2025: 0.4%● unchanged vs 02-2025
04-2025: 0.4%● unchanged vs 03-2025
05-2025: 0.4%● unchanged vs 04-2025
06-2025: 0.5%▲ +0.1 percentage points vs 05-2025
07-2025: 0.6%▲ +0.1 percentage points vs 06-2025
08-2025: 0.8%▲ +0.2 percentage points vs 07-2025
09-2025: 0.9%▲ +0.1 percentage points vs 08-2025highest value
10-2025: 0.3%▼ -0.6 percentage points vs 09-2025lowest value
11-2025: 0.3%● unchanged vs 10-2025lowest value
12-2025: 0.3%● unchanged vs 11-2025lowest value
01-2026: 0.3%● unchanged vs 12-2025lowest value
02-2026: 0.3%● unchanged vs 01-2026
03-2026: 0.3%● unchanged vs 02-2026
04-2026: 0.3%● unchanged vs 03-2026
05-2026: 0.3%● unchanged vs 04-2026
06-2026: 0.3%● unchanged vs 05-2026
07-2026: 0.4%▲ +0.1 percentage points vs 06-2026
08-2026: 0.6%▲ +0.2 percentage points vs 07-2026
09-2026: 0.8%▲ +0.2 percentage points vs 08-2026
10-2026: 0.8%● unchanged vs 09-2026
11-2026: 0.8%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Capped at 59: negative equity
Loss of €32,087 (financial year 2025)
Negative equity -€91,931
lowers risk
Size: total assets €485,911
Founded in 1985
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 68, micro). It does better than 10% of them on solvency, 6% on liquidity, 48% on profitability and 11% on growth.
The bankruptcy probability was computed on 10-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 1,242 companies had the same profile as MORTENSEN has now. Each dot stands for 4 companies, two years later.
92.8%
were still trading
4.0%
stopped another way
1.9%
went bankrupt
Another 1.4% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of MORTENSEN itself: 0.8% within 12 months.
Test of the method
The method was tested on the 497,448 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 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
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 1,242 companies, not a prediction for MORTENSEN. 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.
Credit verdict
No credit on open account
Liquidity is insufficient, with a current ratio of 0.08 (0.03 in 2024), below 1. Short-term debt is 118.9% and cash 1.7% of total assets. Equity is negative.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises risk
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€91,931
raises risk · 2025 accounts filed 60 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 29-09-2026, 60 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filingsDeviation from the deadline
2025
60 days late
2024
29 days late
2023
30 days late
2022
30 days late
2021
31 days late
2020
89 days late
2019
92 days late
← before the deadline
after the deadline →
tick = median of all Belgian filings
The company filed its last 7 accounts on average 52 days after the deadline. The Belgian median for financial year 2024 was 4 days before the deadline, and 38% of all filings were late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 31 August (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
11-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0427974688
Appointments: XANTO (director) and Snow & Ice Art Europe (director)
General meeting of 08-12-2023 · Gazette deed
1 director resigning
Snow & Ice Art Europe · Permanent representatives: Frederik Philibert and Francis Vandendorpe · General meeting of 31-08-2020 · Gazette deed
Appointments: XANTO BVBA (manager) and SNOW & ICE EUROPE (manager)
General meeting of 15-09-2017 · Gazette deed
Official details
Source: KBO- Status
- Active since 08-11-1985Normal situation
- Activity
- No activity registered in the KBO
- Joint committee
- 302Hotels and catering · annual accounts 2025
- Establishment unit
- 2.028.499.0388310 Bruges, since 15-12-1985
- Financial year end
- 31 December
- Peppol
- Reachable since 27-02-2026
Insights on MORTENSEN
MORTENSEN files the micro format. That format states no turnover. The gross margin fell from €46,565 in 2006 to €21,002 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about MORTENSEN
- What is the company number of MORTENSEN?
- The company number of MORTENSEN is 0427.974.688. The VAT number is the same number with BE in front: BE 0427.974.688.
- Where is MORTENSEN based?
- The registered office is at Kartuizersstraat 50, 8310 Bruges.Company details
- What is the legal form of MORTENSEN?
- MORTENSEN is a private limited company (BV).
- When was MORTENSEN founded?
- MORTENSEN was founded on 08-11-1985.
- Is MORTENSEN still active?
- Yes, MORTENSEN is an active enterprise in the KBO register.
- Which joint committee does MORTENSEN fall under?
- In its 2025 annual accounts, MORTENSEN states joint committee 302 (Hotels and catering).
- What is the turnover of MORTENSEN?
- The turnover in financial year 2025 is ≈ €160,000. This figure is estimated from the gross margin of €21,002 and 6,296 comparable companies of the same size. It probably lies between €73,000 and €380,000. It is a rough estimate.Financials
- Is MORTENSEN profitable?
- In financial year 2025, MORTENSEN made a loss of €32,087.
- Where can I find the annual accounts of MORTENSEN?
- MORTENSEN filed 40 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of MORTENSEN due?
- MORTENSEN must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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