MORTITECH
ActiveSummary
MORTITECH has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €463k and a net result of €49k. Equity is growing by ~6.9% per year across the filed fiscal years. Its solvency ranks better than 83% of 7445 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability79▼-14
Solvency99▲+38
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €35k at 30 days acceptable
Liquidity ample (current ratio 5.1 against 1.55 in 2023; short-term debt: 15% and cash: 8.4% of total assets), and 26.3% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more 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
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 02-07-2025, 29 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
29 d early
2023
36 d early
2022
32 d early
2021
54 d early
2020
2 d early
2019
34 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, abbreviated schema
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€463k▲ 11.9%
2023 · €414k
2018: €270klowest in 7 years
2019: €359k▲ +32.9% vs 2018
2020: €466k▲ +29.7% vs 2019
2021: €691k▲ +48.2% vs 2020
2022: €695k▲ +0.6% vs 2021highest in 7 years
2023: €414k▼ -40.4% vs 2022
2024: €463k▲ +11.9% vs 2023
2018 → 2024
Total assets
€628k▼ 45.5%
2023 · €1.15M
2018: €525klowest in 7 years
2019: €565k▲ +7.6% vs 2018
2020: €690k▲ +22.2% vs 2019
2021: €912k▲ +32.0% vs 2020
2022: €1.20M▲ +31.9% vs 2021highest in 7 years
2023: €1.15M▼ -4.2% vs 2022
2024: €628k▼ -45.5% vs 2023
2018 → 2024
Net result
€49k▼ 77.5%
2023 · €219k
2018: €61k
2019: €89k▲ +45.7% vs 2018
2020: €107k▲ +20.2% vs 2019
2021: €225k▲ +111% vs 2020highest in 7 years
2022: €219k▼ -2.4% vs 2021
2023: €219k▼ -0.1% vs 2022
2024: €49k▼ -77.5% vs 2023lowest in 7 years
2018 → 2024
Working capital
€386k▲ 8.9%
2023 · €355k
2018: €228klowest in 7 years
2019: €322k▲ +41.1% vs 2018
2020: €413k▲ +28.4% vs 2019
2021: €631k▲ +52.9% vs 2020
2022: €632k▲ +0.1% vs 2021highest in 7 years
2023: €355k▼ -43.9% vs 2022
2024: €386k▲ +8.9% vs 2023
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€466k-€691k▲ 48.2%€695k▲ 0.6%€414k▼ 40.4%€463k▲ 11.9%
2020: €466k
2021: €691k▲ +48.2% vs 2020
2022: €695k▲ +0.6% vs 2021highest in 5 years
2023: €414k▼ -40.4% vs 2022lowest in 5 years
2024: €463k▲ +11.9% vs 2023
Operating result€159k-€294k▲ 85.1%€299k▲ 1.7%€289k▼ 3.2%€58k▼ 80.1%
2020: €159k
2021: €294k▲ +85.1% vs 2020
2022: €299k▲ +1.7% vs 2021highest in 5 years
2023: €289k▼ -3.2% vs 2022
2024: €58k▼ -80.1% vs 2023lowest in 5 years
Net result€107k-€225k▲ 111%€219k▼ 2.4%€219k▼ 0.1%€49k▼ 77.5%
2020: €107k
2021: €225k▲ +111% vs 2020highest in 5 years
2022: €219k▼ -2.4% vs 2021
2023: €219k▼ -0.1% vs 2022
2024: €49k▼ -77.5% vs 2023lowest in 5 years
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2024 is 80% below 2023 and is the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €628k
Fixed assets
€148k ▲ 0.7%
Current assets
€481k ▼ 52.2%
Equity and liabilities €628k
Equity
€463k ▲ 11.9%
Debt
€165k ▼ 77.6%
Debt's share of the balance-sheet total falls from 64.1% to 26.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€64k▼
2023 · €309k
Cash flow
€55k▼
2023 · €239k
Current ratio
5.10▲
2023 · 1.55
Quick ratio
4.05▲
2023 · 1.34
Debt to equity
0.36▼
2023 · 1.78
ROE
10.6%▼
2023 · 52.9%
ROA
7.8%▼
2023 · 19.0%
Interest coverage
22.52▼
2023 · 103.19
Debt ≤ 1 year
€94k▼
2023 · €651k
Debt > 1 year
€71k▼
2023 · €88k
Income taxes
€17k▼
2023 · €73k
Staff costs
€227▼
2023 · €925
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 52 lines
Balance sheet
Code20232024
Assets
Total assets20/58€1.15M€628k▼
Fixed assets21/28€147k€148k▲
Tangible fixed assets22/27€147k€148k▲
Land and buildings22€136k€134k▼
Plant, machinery and equipment23€35€8k▲
Furniture and vehicles24€11k€6k▼
Current assets29/58€1.01M€481k▼
Stocks and contracts in progress3€135k€99k▼
Stocks30/36€135k€99k▼
Amounts receivable within one year40/41€192k€148k▼
Trade receivables40€149k€130k▼
Other amounts receivable41€43k€18k▼
Current investments50/53-€176k
Cash at bank and in hand54/58€674k€53k▼
Deferred charges and accrued income490/1€4k€4k▲
Equity and liabilities
Total equity and liabilities10/49€1.15M€628k▼
Equity10/15€414k€463k▲
Contributions10/11€12k€12k=
Reserves13€402k€451k▲
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Tax-exempt reserves132€16k€16k=
Distributable reserves133€383k€433k▲
Amounts payable17/49€738k€165k▼
Amounts payable after more than one year17€88k€71k▼
Financial debts170/4€88k€71k▼
Amounts payable within one year42/48€651k€94k▼
Current portion of amounts payable after more than one year42€16k€17k▲
Trade debts44€92k€73k▼
Suppliers440/4€92k€73k▼
Taxes, remuneration and social security45€41k€3k▼
Taxes450/3€41k€3k▼
Other amounts payable47/48€500k€1k▼
Income statement
Code20232024
Remuneration, social security and pensions62€925€227▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€20k€6k▼
Other operating charges640/8€4k€3k▼
Gross operating margin9900€315k€67k▼
Operating profit (loss)9901€289k€58k▼
Financial income75/76B€5k€11k▲
Recurring financial income75€5k€11k▲
Financial charges65/66B€3k€3k▼
Recurring financial charges65€3k€3k▼
Profit (loss) for the period before taxes9903€292k€66k▼
Income taxes67/77€73k€17k▼
Profit (loss) for the period9904€219k€49k▼
Profit (loss) for the period to be appropriated9905€219k€49k▼
Appropriation of the result
Profit (loss) to be appropriated9906€219k€49k▼
Transfer from equity791/2€300k-
Transfer to equity691/2€19k€49k▲
To other reserves6921€19k€49k▲
Profit to be distributed694/7€500k-
Return on contributions (dividend)694€500k-
The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €12k | - | - | - | - |
| Remuneration, social security and pensions62 | - | €40k | €12k | €925 | €227 | ▼ 75.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €18k | €19k | €20k | €20k | €6k | ▼ 70.2% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | €-10k | - | - | - | - |
| Other operating charges640/8 | - | €5k | €3k | €4k | €3k | ▼ 33.6% |
| Gross operating margin9900 | €223k | €348k | €333k | €315k | €67k | ▼ 78.8% |
| Operating profit (loss)9901 | €159k | €294k | €299k | €289k | €58k | ▼ 80.1% |
| Financial income75/76B | - | €3k | €1k | €5k | €11k | ▲ 106% |
| Recurring financial income75 | €802 | €3k | €1k | €5k | €11k | ▲ 106% |
| Financial charges65/66B | - | €4k | €3k | €3k | €3k | ▼ 5.8% |
| Recurring financial charges65 | €4k | €4k | €3k | €3k | €3k | ▼ 5.8% |
| Profit (loss) for the period before taxes9903 | €156k | €293k | €297k | €292k | €66k | ▼ 77.4% |
| Income taxes67/77 | €49k | €68k | €78k | €73k | €17k | ▼ 77.2% |
| Profit (loss) for the period9904 | €107k | €225k | €219k | €219k | €49k | ▼ 77.5% |
| Profit (loss) for the period to be appropriated9905 | €134k | €225k | €219k | €219k | €49k | ▼ 77.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €690k | €912k | €1.20M | €1.15M | €628k | ▼ 45.5% |
| Fixed assets21/28 | €199k | €179k | €167k | €147k | €148k | ▲ 0.7% |
| Tangible fixed assets22/27 | €199k | €179k | €167k | €147k | €148k | ▲ 0.7% |
| Land and buildings22 | - | €156k | €150k | €136k | €134k | ▼ 1.2% |
| Plant, machinery and equipment23 | - | €756 | €395 | €35 | €8k | ▲ 22,156% |
| Furniture and vehicles24 | - | €23k | €17k | €11k | €6k | ▼ 45.9% |
| Current assets29/58 | €492k | €732k | €1.04M | €1.01M | €481k | ▼ 52.2% |
| Stocks and contracts in progress3 | €33k | €78k | €122k | €135k | €99k | ▼ 26.4% |
| Stocks30/36 | - | €78k | €122k | €135k | €99k | ▼ 26.4% |
| Amounts receivable within one year40/41 | €143k | €208k | €315k | €192k | €148k | ▼ 22.9% |
| Trade receivables40 | - | €172k | €216k | €149k | €130k | ▼ 12.8% |
| Other amounts receivable41 | - | €36k | €99k | €43k | €18k | ▼ 58.0% |
| Current investments50/53 | - | - | - | - | €176k | - |
| Cash at bank and in hand54/58 | €292k | €439k | €596k | €674k | €53k | ▼ 92.2% |
| Deferred charges and accrued income490/1 | - | €8k | €3k | €4k | €4k | ▲ 13.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €690k | €912k | €1.20M | €1.15M | €628k | ▼ 45.5% |
| Equity10/15 | €466k | €691k | €695k | €414k | €463k | ▲ 11.9% |
| Contributions10/11 | - | €12k | €12k | €12k | €12k | = |
| Reserves13 | €453k | €678k | €683k | €402k | €451k | ▲ 12.3% |
| Non-distributable reserves130/1 | - | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | - | €2k | €2k | €2k | €2k | = |
| Tax-exempt reserves132 | - | €16k | €16k | €16k | €16k | = |
| Distributable reserves133 | - | €660k | €664k | €383k | €433k | ▲ 12.9% |
| Provisions and deferred taxes16 | €10k | - | - | - | - | - |
| Amounts payable17/49 | €215k | €221k | €508k | €738k | €165k | ▼ 77.6% |
| Amounts payable after more than one year17 | €136k | €120k | €104k | €88k | €71k | ▼ 19.1% |
| Financial debts170/4 | - | €120k | €104k | €88k | €71k | ▼ 19.1% |
| Amounts payable within one year42/48 | €79k | €101k | €404k | €651k | €94k | ▼ 85.5% |
| Current portion of amounts payable after more than one year42 | - | €16k | €16k | €16k | €17k | ▲ 2.4% |
| Trade debts44 | €16k | €71k | €132k | €92k | €73k | ▼ 20.5% |
| Suppliers440/4 | - | €71k | €132k | €92k | €73k | ▼ 20.5% |
| Taxes, remuneration and social security45 | - | €4k | €40k | €41k | €3k | ▼ 92.9% |
| Taxes450/3 | - | €3k | €40k | €41k | €3k | ▼ 92.9% |
| Remuneration and social security454/9 | - | €1k | - | - | - | - |
| Other amounts payable47/48 | - | €10k | €215k | €500k | €1k | ▼ 99.8% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €107k | €225k | €219k | €219k | €49k | ▼ 77.5% |
| + Depreciation and write-downs630 | €18k | €19k | €20k | €20k | €6k | ▼ 70.2% |
| Operating cash flow (approximation) | €124k | €244k | €239k | €239k | €55k | ▼ 76.9% |
| Investment in fixed assets (approximation) | - | €0 | €-7k | €0 | €-7k | - |
| Change in cash | - | €147k | €157k | €79k | €-622k | ▼ 889% |
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
02-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Weakest financial yearnet €49k ▼77.5%
Net result drops to €49k, the lowest in the series.
31-12
Financial
Liquidity triplescurrent ratio 5.10
Current ratio from 1.55 to 5.10; short-term debt falls from €651k to €94k.
25-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
29-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
07-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Highest result since 2018net €225k ▲111%
Net result €225k, the highest in the series.
31-12
Financial
Equity above €500kEq €691k ▲48.2%
4 profitable years in a row build equity to €691k.
29-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
27-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
15-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
07-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
16-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 16 days late
2016
12-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 12 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Wingene · 1 establishment unit since 2009
Ground area
1,123 m²
Building footprint
516 m²
Volume, LiDAR
3,541 m³
Parcel 37019C0228/00Y000, Flanders · tallest building 8.6 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Industrieweg 3, 8750 Wingene
since 20092.178.141.235
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 37019C0228/00Y000 | Flanders | 1,123 m² | 1 · 516 m² | 8.6 m · 2 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
FUMISTERIE DUBOIS
BE 0448.120.402
Welkenraedt · Eq €463,251
M.R.P. VAN DORPE
BE 0475.368.195
Lievegem · Eq €463,130
JDS Airconditioning
BE 0676.544.811
Bocholt · Eq €463,346
EURO SCHOEFS
BE 0442.879.630
Tongeren-Borgloon · Eq €462,973
Han Ooms
BE 0839.568.751
Dessel · Eq €462,810
Of 9,528 companies in sector 43222 we hold annual accounts for 5,663. 4,109 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
Founded08-05-2009
Fiscal year end31-12
Activities, NACEBEL 2025
43222Installation of electric heating, air conditioning, cooling and ventilation
33200Installation of industrial machinery and equipment
43211General electrical installation work
43213Specialised construction activities
Scores and ratios are computed by Checked and are not a credit decision.