MORTREU GUY PROJECTS

Active

Private limited companyfounded 20188 yrs activeBaarledorpstraat 95, 9031 Gent, BelgiumKBO/BCE: BE 0690.865.573

MORTREU GUY PROJECTS has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €47k and a net result of €-37k. Equity is shrinking by ~17.9% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2028. Its solvency ranks better than 23% of 13977 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).

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Checked score

Score 2025

51 / 100

Fair

The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability67▲+2

Solvency27▼-3

Growth32=

Track record100

Bankruptcy probability, 12 months

0.4% Very low

0%0.5%1.5%4%10%≥ 25%

Credit up to €2k at 30 days acceptable

Liquidity short (current ratio 0.04 against 0.04 in 2024; short-term debt: 98.1% and cash: 2.3% of total assets), and 98.1% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Seven signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

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

Sector 68

lower

← fewer bankruptcies more bankruptcies →

Limited track record

This company has not been active as long as an established one and statistically fails somewhat more often.

KBO · incorporation date

Age against the risk zone

Persistent losses

Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.

NBB · annual accounts 2025

Net result per financial year

19202122232425

2019 to 2025 · latest year €-37k

Weak solvency vs sector

Solvency (equity / total assets) is in the sector's weakest quartile: better than 23% of 13977 sector peers (2025).

NBB · sector comparison

Position among 13977 sector peers

Solvency

better than 23%

← weakest strongest →

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 15-07-2026, 16 days ahead of the deadline.

NBB · 7 filings

Deviation from the deadline

2025

16 d early

2024

4 d late

2023

29 d early

2022

38 d early

2021

16 d early

2020

23 d early

2019

15 d early

← before the deadline after the deadline →

The next deadline is still running

The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.

Companies Code · seven months

Position in the running window

19-09-2026 today31-12-2026 close31-07-2027 deadline

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2025, micro schema

Equity

€47k▼ 43.8%

2024 · €84k

2019: €186k 2020: €198k 2021: €147k 2022: €125k 2023: €129k 2024: €84k

2019 → 2025

Total assets

€2.51M▲ 46.1%

2024 · €1.72M

2019: €291k 2020: €809k 2021: €171k 2022: €148k 2023: €153k 2024: €1.72M

2019 → 2025

Net result

€-37k▲ 17.9%

2024 · €-45k

2019: €-14k 2020: €13k 2021: €-51k 2022: €-23k 2023: €4k 2024: €-45k

2019 → 2025

Working capital

€-2.36M▼ 50.5%

2024 · €-1.57M

2019: €186k 2020: €198k 2021: €147k 2022: €125k 2023: €86k 2024: €-1.57M

2019 → 2025

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20212022202320242025Trend

Equity€147k-€125k▼ 15.4%€129k▲ 3.5%€84k▼ 34.8%€47k▼ 43.8%

Operating result€-52k-€-23k▲ 56.2%€4k€-56k€-52k▲ 6.3%

Net result€-51k-€-23k▲ 56.0%€4k€-45k€-37k▲ 17.9%

Turnover and EBIT margin not published: the micro schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result stays negative: a loss of €52k in 2025 against €56k in 2024; the loss shrinks.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €2.51M

96.0%

Fixed assets €2.41M▲ 45.7%

Current assets €101k▲ 56.0%

Equity and liabilities €2.51M

98.1%

Equity €47k▼ 43.8%

Debt €2.46M▲ 50.7%

The debt ratio rises from 95.1% to 98.1%. Equity is lower and debt is higher.

Key figures and ratios

2025 value · change against 2024

EBITDA

€120k▲

2024 · €32k

Cash flow

€136k▲

2024 · €43k

Solvency

1.9%▼

2024 · 4.9%

Current ratio

0.04▲

2024 · 0.04

Quick ratio

0.04▲

2024 · 0.04

Debt / equity

52.11▲

2024 · 19.45

ROE

-77.8%▼

2024 · -53.3%

ROA

-1.5%▲

2024 · -2.6%

Interest coverage

206.82▲

2024 · 68.70

Debt

€2.46M▲

2024 · €1.64M

Debt ≤ 1 year

€2.46M▲

2024 · €1.64M

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€1.72M€2.51M▲

Fixed assets21/28€1.66M€2.41M▲

Tangible fixed assets22/27€1.66M€2.41M▲

Land and buildings22-€2.40M

Furniture and vehicles24-€10k

Assets under construction and advance payments27€1.66M€0▼

Current assets29/58€64k€101k▲

Amounts receivable within one year40/41€53k€43k▼

Trade receivables40€12k€3k▼

Other amounts receivable41€41k€40k▼

Cash at bank and in hand54/58€11k€58k▲

Equity and liabilities

Total equity and liabilities10/49€1.72M€2.51M▲

Equity10/15€84k€47k▼

Contributions10/11€200k€200k=

Profit (loss) carried forward14€-116k€-153k▼

Amounts payable17/49€1.64M€2.46M▲

Amounts payable within one year42/48€1.64M€2.46M▲

Trade debts44€118k€23k▼

Suppliers440/4€118k€23k▼

Advances received on contracts in progress46-€16k

Taxes, remuneration and social security45-€8k

Taxes450/3-€8k

Other amounts payable47/48€1.52M€2.42M▲

Income statement Code20242025

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€88k€172k▲

Other operating charges640/8€4k€1k▼

Gross operating margin9900€36k€121k▲

Operating profit (loss)9901€-56k€-52k▲

Financial income75/76B€11k€16k▲

Recurring financial income75€11k€16k▲

Financial charges65/66B€462€581▲

Recurring financial charges65€462€581▲

Profit (loss) for the period before taxes9903€-45k€-37k▲

Profit (loss) for the period9904€-45k€-37k▲

Profit (loss) for the period to be appropriated9905€-45k€-37k▲

Appropriation of the result

Profit (loss) to be appropriated9906€-116k€-153k▼

Profit (loss) brought forward from the previous period14P€-71k€-116k▼

The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 11Financial 4Filings 7

Next filing, fiscal year 2026, expected by 31-07-2027

2026

15-07

NBB filing Annual accounts filed

fiscal year 2025 · micro schema

2025

04-08

NBB filing Annual accounts filed

fiscal year 2024 · micro schema · 4 days late

2024

02-07

NBB filing Annual accounts filed

fiscal year 2023 · micro schema

2023

31-12

Financial Back to profitnet €4k

Net result €4k after 2 loss-making years.

23-06

NBB filing Annual accounts filed

fiscal year 2022 · micro schema

2022

15-07

NBB filing Annual accounts filed

fiscal year 2021 · micro schema

2021

31-12

Financial Weakest financial yearnet €-51k ▼501%

Net result drops to €-51k, the lowest in the series; recovery starts the following year.

31-12

Financial Liquidity times 5current ratio 7.09

Current ratio from 1.32 to 7.09; short-term debt falls from €611k to €24k.

08-07

NBB filing Annual accounts filed

fiscal year 2020 · micro schema

2020

31-12

Financial Back to profitnet €13k

Net result €13k after one loss-making year.

16-07

NBB filing Annual accounts filed

fiscal year 2019 · micro schema

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

no sitting director, no change since 2020

We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.

13-06-2020 Resigned as Director

Location & real-estate footprint

Registered office, Gent · 1 establishment unit since 2018

establishment The establishment unit on the map

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.

Baarledorpstraat 959031 Gent

Ground area

4,948 m²

Building footprint

184 m²

Volume, LiDAR