MP@
Dissolved and wound up on 14-04-2026Financials · financial year 2025, micro format
Annual accounts 2025 filed on 20-02-2026 PDF all 20 filings
Turnover
≈ €89,000
Estimated: probably between €41,000 and €210,000
Total assets
€74,229▼ 28.3%
2024 · €103,582
Net result
€4,287
2024 · -€2,790
Working capital
€71,106▲ 21.4%
2024 · €58,572
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€4,229
2025
20182025
Net result
€4,287
2025
20182025
Equity
€71,106
▲ 6.4%
2025
20182025
Total assets
€74,229
▼ 28.3%
2025
20182025
Debt
€3,123
▼ 91.5%
2025
20182025
Working capital
€71,106
▲ 21.4%
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€55,397-€42,576▼ 23.1%-€2,765-€7,349▼ 166%-€12,358▼ 68.2%-€2,202▲ 82.2%-€2,917▼ 32.5%€4,229
Net result€32,557-€25,136▼ 22.8%-€10,212-€10,280▼ 0.7%-€16,653▼ 62.0%-€2,453▲ 85.3%-€2,790▼ 13.7%€4,287
Equity€81,981-€107,116▲ 30.7%€96,905▼ 9.5%€86,625▼ 10.6%€69,972▼ 19.2%€67,519▼ 3.5%€66,819▼ 1.0%€71,106▲ 6.4%
Total assets€194,285-€184,446▼ 5.1%€168,608▼ 8.6%€143,270▼ 15.0%€88,561▼ 38.2%€83,924▼ 5.2%€103,582▲ 23.4%€74,229▼ 28.3%
Debt€112,305-€77,330▼ 31.1%€71,703▼ 7.3%€56,645▼ 21.0%€18,589▼ 67.2%€16,405▼ 11.7%€36,764▲ 124%€3,123▼ 91.5%
Working capital€93,854-€119,413▲ 27.2%€108,452▼ 9.2%€94,589▼ 12.8%€44,684▼ 52.8%€50,943▲ 14.0%€58,572▲ 15.0%€71,106▲ 21.4%
The operating result for 2025 is a profit of €4,229, after a loss of €2,917 in 2024. It is the highest result since 2019.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €74,229
Equity
€71,106 ▲ 6.4%
Debt
€3,123 ▼ 91.5%
Debt's share of the balance-sheet total falls from 35.5% to 4.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€8,833▲
2024 · €5,411
Cash flow
€8,892▲
2024 · €5,539
Current ratio
23.77▲
2024 · 2.59
Debt to equity
0.04▼
2024 · 0.55
ROE
6.0%▲
2024 · -4.2%
ROA
5.8%▲
2024 · -2.7%
Interest coverage
92.98▲
2024 · 59.46
Debt ≤ 1 year
€3,123▼
2024 · €36,764
Income taxes
€66
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Mortgages, amount registered | - | €150,000 | €150,000 | €150,000 | - |
| Carrying value of the mortgaged assets | - | €20,392 | €12,498 | €4,605 | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €2,421 | €1,331 | - | - | - |
| Intangible fixed assets | - | - | - | - | €0 |
| Depreciation and write-downs of the year | €10,239 | €9,850 | €8,713 | €8,328 | €4,605 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €12,011 | €10,869 | €10,168 | €10,239 | €9,850 | €8,713 | €8,328 | €4,605 | ▼ 44.7% |
| Other operating charges640/8 | - | - | - | €3,417 | €2,932 | €2,701 | €3,066 | €2,823 | ▼ 7.9% |
| Gross operating margin9900 | €70,151 | €56,821 | €10,417 | €6,307 | €424 | €9,212 | €8,477 | €11,657 | ▲ 37.5% |
| Operating profit (loss)9901 | €55,397 | €42,576 | -€2,765 | -€7,349 | -€12,358 | -€2,202 | -€2,917 | €4,229 | - |
| Financial income75/76B | - | - | - | €17 | - | €125 | €219 | €219 | ▲ 0.4% |
| Recurring financial income75 | €840 | €656 | €1,092 | €17 | - | €125 | €219 | €219 | ▲ 0.4% |
| Financial charges65/66B | - | - | - | €2,726 | €4,295 | €87 | €91 | €95 | ▲ 4.4% |
| Recurring financial charges65 | €4,132 | €3,717 | €8,538 | €2,726 | €4,295 | €87 | €91 | €95 | ▲ 4.4% |
| Profit (loss) for the period before taxes9903 | €52,106 | €39,515 | -€10,212 | -€10,058 | -€16,653 | -€2,164 | -€2,790 | €4,353 | - |
| Income taxes67/77 | €19,549 | €14,379 | - | €222 | - | €289 | - | €66 | - |
| Profit (loss) for the period9904 | €32,557 | €25,136 | -€10,212 | -€10,280 | -€16,653 | -€2,453 | -€2,790 | €4,287 | - |
| Profit (loss) for the period to be appropriated9905 | €32,557 | €25,136 | -€10,212 | -€10,280 | -€16,653 | -€2,453 | -€2,790 | €4,287 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €194,285 | €184,446 | €168,608 | €143,270 | €88,561 | €83,924 | €103,582 | €74,229 | ▼ 28.3% |
| Fixed assets21/28 | €62,663 | €51,794 | €41,625 | €33,807 | €25,288 | €16,575 | €8,247 | €0 | ▼ 100% |
| Tangible fixed assets22/27 | €62,663 | €51,794 | €41,625 | €33,807 | €25,288 | €16,575 | €8,247 | €0 | ▼ 100% |
| Land and buildings22 | - | - | - | €32,267 | €24,133 | €15,805 | €7,477 | €0 | ▼ 100% |
| Furniture and vehicles24 | - | - | - | €1,540 | €1,155 | €770 | €770 | €0 | ▼ 100% |
| Current assets29/58 | €131,623 | €132,653 | €126,982 | €109,463 | €63,273 | €67,349 | €95,335 | €74,229 | ▼ 22.1% |
| Amounts receivable within one year40/41 | €2,751 | €4,531 | €10,204 | €1,685 | €15,052 | €16,900 | €39,400 | €4,121 | ▼ 89.5% |
| Trade receivables40 | - | - | - | - | €14,800 | €16,900 | €36,246 | €4,050 | ▼ 88.8% |
| Other amounts receivable41 | - | - | - | €1,685 | €252 | - | €3,154 | €71 | ▼ 97.8% |
| Current investments50/53 | €90,585 | €90,585 | €116,007 | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €36,733 | €36,744 | - | €106,979 | €47,489 | €49,258 | €55,074 | €69,221 | ▲ 25.7% |
| Deferred charges and accrued income490/1 | - | - | - | €799 | €732 | €1,190 | €861 | €887 | ▲ 3.0% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €194,285 | €184,446 | €168,608 | €143,270 | €88,561 | €83,924 | €103,582 | €74,229 | ▼ 28.3% |
| Equity10/15 | €81,981 | €107,116 | €96,905 | €86,625 | €69,972 | €67,519 | €66,819 | €71,106 | ▲ 6.4% |
| Contributions10/11 | €18,700 | €18,700 | €18,700 | €18,700 | €18,700 | €18,700 | €18,700 | €18,700 | = |
| Capital10 | - | - | - | €18,700 | €18,700 | - | - | - | - |
| Issued capital100 | - | - | - | €18,700 | €18,700 | - | - | - | - |
| Reserves13 | €54,427 | €79,563 | €79,563 | €79,563 | €79,563 | €79,563 | €79,563 | €79,563 | = |
| Non-distributable reserves130/1 | - | - | - | €1,870 | €1,870 | €1,870 | €1,870 | €1,870 | = |
| Legal reserve130 | - | - | - | €1,870 | €1,870 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | - | - | €1,870 | €1,870 | €1,870 | = |
| Tax-exempt reserves132 | - | - | - | €15,000 | €15,000 | €15,000 | €15,000 | €15,000 | = |
| Distributable reserves133 | - | - | - | €62,693 | €62,693 | €62,693 | €62,693 | €62,693 | = |
| Profit (loss) carried forward14 | €8,854 | €8,854 | -€1,358 | -€11,638 | -€28,291 | -€30,744 | -€31,444 | -€27,157 | ▲ 13.6% |
| Amounts payable17/49 | €112,305 | €77,330 | €71,703 | €56,645 | €18,589 | €16,405 | €36,764 | €3,123 | ▼ 91.5% |
| Amounts payable after more than one year17 | €74,536 | €64,090 | €53,172 | €41,772 | - | - | - | - | - |
| Financial debts170/4 | - | - | - | €41,772 | - | - | - | - | - |
| Amounts payable within one year42/48 | €37,769 | €13,240 | €18,531 | €14,874 | €18,589 | €16,405 | €36,764 | €3,123 | ▼ 91.5% |
| Current portion of amounts payable after more than one year42 | - | - | - | €11,401 | - | - | - | - | - |
| Trade debts44 | €2,770 | €2,239 | €1,537 | €2,151 | €2,107 | €606 | €500 | €2,420 | ▲ 384% |
| Suppliers440/4 | - | - | - | €2,151 | €2,107 | €606 | €500 | €2,420 | ▲ 384% |
| Advances received on contracts in progress46 | - | - | - | - | €14,800 | €15,300 | €36,246 | - | - |
| Taxes, remuneration and social security45 | - | - | - | €823 | €1,241 | €58 | - | €703 | - |
| Taxes450/3 | - | - | - | - | €1,241 | €58 | - | €703 | - |
| Remuneration and social security454/9 | - | - | - | €823 | - | - | - | - | - |
| Other amounts payable47/48 | - | - | - | €498 | €441 | €441 | €18 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €32,557 | €25,136 | -€10,212 | -€10,280 | -€16,653 | -€2,453 | -€2,790 | €4,287 | - |
| + Depreciation and write-downs630 | €12,011 | €10,869 | €10,168 | €10,239 | €9,850 | €8,713 | €8,328 | €4,605 | ▼ 44.7% |
| Operating cash flow (approximation) | €44,568 | €36,005 | -€43 | -€41 | -€6,803 | €6,260 | €5,539 | €8,892 | ▲ 60.5% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€2,421 | -€1,331 | €0 | €0 | €3,642 | - |
| Change in cash | - | €11 | - | - | -€59,490 | €1,770 | €5,816 | €14,146 | ▲ 143% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 20 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 20-02-2026 | 2026-00041071 | |
| 31-12-2024 | micro format | 17-06-2025 | 2025-00153310 | |
| 31-12-2023 | micro format | 26-09-2024 | 2024-00473400 | |
| 31-12-2022 | micro format | 13-07-2023 | 2023-00233228 | |
| 31-12-2021 | micro format | 25-07-2022 | 2022-20218608 | |
| 31-12-2020 | micro format | 31-08-2021 | 2021-60700053 | |
| 31-12-2019 | micro format | 03-11-2020 | 2020-67900358 | |
| 31-12-2018 | micro format | 02-07-2019 | 2019-27600087 | |
| 31-12-2017 | micro format | 30-07-2018 | 2018-39800323 | |
| 31-12-2016 | micro format | 12-06-2017 | 2017-16600279 |