MORTENSEN
ActiveSummary
MORTENSEN has been active since 1985 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show negative equity (€-60k) and a net result of €14k. Equity is shrinking by ~62.5% per year across the filed fiscal years. Its solvency ranks better than 12% of 19356 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability72▲+7
Solvency13▲+3
Growth32=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.03 against 0.01 in 2023; short-term debt: 112.1% and cash: 2.1% of total assets), and equity is negative.
Credit check for your own amount and term
Open the credit simulator : see how the verdict changes with amount, term and advance.
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
-12.1%
Return on assets
2.9%
Age of the figures
21 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 12% of 19356 sector peers (2024).
NBB · sector comparisonPosition among 19356 sector peers
Solvency
better than 12%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-08-2025, 29 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
29 d late
2023
30 d late
2022
30 d late
2021
31 d late
2020
89 d late
2019
92 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€-60k▲ 19.5%
2023 · €-74k
Total assets
€495k▼ 3.3%
2023 · €512k
Net result
€14k
2023 · €-14k
Working capital
€-536k▲ 6.7%
2023 · €-574k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€9k▼ 50.9%€-43k€-118k▼ 178%€-13k▲ 89.1%€15k
Net result€2k€-44k€-138k▼ 213%€-14k▲ 90.0%€14k
Equity€122k▲ 1.8%€78k▼ 36.3%€-61k€-74k▼ 22.7%€-60k▲ 19.5%
Total assets€744k▼ 5.9%€651k▼ 12.4%€602k▼ 7.6%€512k▼ 14.9%€495k▼ 3.3%
Debt€622k▼ 7.3%€574k▼ 7.8%€662k▲ 15.4%€586k▼ 11.5%€555k▼ 5.4%
Working capital€-426k▼ 13.1%€-463k▼ 8.6%€-581k▼ 25.5%€-574k▲ 1.2%€-536k▲ 6.7%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2024: €15k after a loss of €13k in 2023, the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €495k
Fixed assets
€476k ▼ 5.6%
Current assets
€19k ▲ 151%
Key figures and ratios
EBITDA
€53k▲
2023 · €25k
Cash flow
€52k▲
2023 · €25k
Solvency
-12.1%▲
2023 · -14.5%
Current ratio
0.03▲
2023 · 0.01
Debt to equity
-9.27▼
2023 · -7.89
ROA
2.9%▲
2023 · -2.7%
Interest coverage
114.41▲
2023 · 32.04
Debt ≤ 1 year
€555k▼
2023 · €582k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €39k | €42k | €39k | €38k | €38k | ▼ 2.1% |
| Other operating charges640/8 | - | €60k | €73k | €24k | €6k | ▼ 73.3% |
| Gross operating margin9900 | €55k | €59k | €-6k | €49k | €59k | ▲ 19.9% |
| Operating profit (loss)9901 | €9k | €-43k | €-118k | €-13k | €15k | ▲ 215% |
| Financial income75/76B | - | €46 | - | - | €2 | - |
| Recurring financial income75 | - | €46 | - | - | €2 | - |
| Financial charges65/66B | - | €2k | €20k | €795 | €459 | ▼ 42.3% |
| Recurring financial charges65 | €7k | €2k | €20k | €795 | €459 | ▼ 42.3% |
| Profit (loss) for the period before taxes9903 | €2k | €-44k | €-138k | €-14k | €14k | ▲ 205% |
| Income taxes67/77 | €217 | - | - | - | - | - |
| Profit (loss) for the period9904 | €2k | €-44k | €-138k | €-14k | €14k | ▲ 205% |
| Profit (loss) for the period to be appropriated9905 | €2k | €-44k | €-138k | €-14k | €14k | ▲ 205% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €744k | €651k | €602k | €512k | €495k | ▼ 3.3% |
| Fixed assets21/28 | €608k | €580k | €543k | €504k | €476k | ▼ 5.6% |
| Tangible fixed assets22/27 | €606k | €579k | €541k | €503k | €475k | ▼ 5.6% |
| Land and buildings22 | - | €568k | €533k | €497k | €461k | ▼ 7.2% |
| Plant, machinery and equipment23 | - | €11k | €8k | €6k | €13k | ▲ 129% |
| Financial fixed assets28 | €2k | €2k | €2k | €2k | €2k | = |
| Current assets29/58 | €136k | €71k | €59k | €7k | €19k | ▲ 151% |
| Amounts receivable within one year40/41 | €128k | €56k | €56k | €876 | €8k | ▲ 840% |
| Trade receivables40 | - | €52k | €53k | - | €8k | - |
| Other amounts receivable41 | - | €4k | €4k | €876 | - | - |
| Cash at bank and in hand54/58 | €8k | €15k | €3k | €7k | €10k | ▲ 58.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €744k | €651k | €602k | €512k | €495k | ▼ 3.3% |
| Equity10/15 | €122k | €78k | €-61k | €-74k | €-60k | ▲ 19.5% |
| Contributions10/11 | - | €19k | €19k | €19k | €19k | = |
| Reserves13 | €103k | €84k | €84k | €84k | €84k | = |
| Non-distributable reserves130/1 | - | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | - | €2k | €2k | €2k | €2k | = |
| Distributable reserves133 | - | €82k | €82k | €82k | €82k | = |
| Profit (loss) carried forward14 | - | €-25k | €-163k | €-177k | €-163k | ▲ 8.2% |
| Amounts payable17/49 | €622k | €574k | €662k | €586k | €555k | ▼ 5.4% |
| Amounts payable after more than one year17 | €57k | €40k | €22k | €5k | - | - |
| Financial debts170/4 | - | €40k | €22k | €5k | - | - |
| Amounts payable within one year42/48 | €562k | €534k | €640k | €582k | €555k | ▼ 4.6% |
| Current portion of amounts payable after more than one year42 | - | €17k | €17k | €18k | €5k | ▼ 74.7% |
| Trade debts44 | €3k | €292k | €291k | €304k | €300k | ▼ 1.2% |
| Suppliers440/4 | - | €292k | €291k | €304k | €300k | ▼ 1.2% |
| Taxes, remuneration and social security45 | - | €17k | €18k | €1k | €1k | ▲ 28.5% |
| Taxes450/3 | - | €7k | €8k | €1k | €1k | ▲ 28.5% |
| Remuneration and social security454/9 | - | €10k | €10k | - | - | - |
| Other amounts payable47/48 | - | €208k | €314k | €259k | €249k | ▼ 4.0% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2k | €-44k | €-138k | €-14k | €14k | ▲ 205% |
| + Depreciation and write-downs630 | €39k | €42k | €39k | €38k | €38k | ▼ 2.1% |
| Operating cash flow (approximation) | €41k | €-2k | €-99k | €25k | €52k | ▲ 111% |
| Investment in fixed assets (approximation) | - | €-14k | €-2k | €0 | €-9k | - |
| Change in cash | - | €7k | €-12k | €4k | €4k | ▼ 0.7% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
31-12
Financial
Back to profitnet €14k
Net result €14k after 3 loss-making years.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
2022
31-12
Financial
Weakest financial yearnet €-138k
Net result drops to €-138k, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
28-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 89 days late
2020
31-12
Financial
Back to profitnet €2k
Net result €2k after one loss-making year.
31-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 92 days late
2019
31-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 31 days late
2018
24-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 24 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 31 days late
2016
31-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
7 acts for this company are 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, Brugge · 1 establishment unit since 1985
Ground area
314 m²
Building footprint
274 m²
Volume, LiDAR
894 m³
Parcel 31029C0621/00S007, Flanders · tallest building 10.2 m, ±1 floor. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
Mortensen
since 19852.028.499.038
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31029C0621/00S007 | Flanders | 314 m² | 1 · 274 m² | 10.2 m · 1 fl. |
Linked by address, not proof of ownership
Good to know
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
KASTEELBEEK
BE 0674.965.194
Wielsbeke · Eq €77,576
DAFINIMMO
BE 0402.848.621
Watermaal-Bosvoorde · Eq €77,594
BEAGLE ESTATE
BE 0645.637.839
Ukkel · Eq €77,327
SCHRIEK BEHEER
BE 0844.875.938
Essen · Eq €77,325
SAFE STORE GENT
BE 0684.984.504
Gent · Eq €77,324
Of 12,041 companies in sector 68203 we hold annual accounts for 5,989. 3,552 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded08-11-1985
Fiscal year end31-12
Activities, NACEBEL 2025
68203Renting and operating of own or leased non-residential real estate, excluding land
56111Full-service restaurants
56112Limited-service restaurants, excluding mobile food services
56301Cafés and bars
68201Renting and operating of own or leased residential real estate, excluding social housing
Scores and ratios are computed by Checked and are not a credit decision.