MPG
ActiveSummary
MPG has been active since 2022 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €218,634 and a net result of €15,243. Equity is growing by about 7.5% per year across the filed financial years. The computed 12-month bankruptcy probability is 0.2% (very low).
Financials · financial year 2025, micro format
Equity
€218,634▲ 7.5%
2024 · €203,391
Total assets
€644,073▼ 1.6%
2024 · €654,222
Net result
€15,243▼ 10.9%
2024 · €17,100
Working capital
-€195,560▲ 2.5%
2024 · -€200,657
Trend over the years
2022 to 2025, 4 financial years
The operating result falls in 2025; 2025 is 10% below 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€33,057
2025
Net result€15,243
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€644,073
2025
Equity€218,634
2025
Debt€425,440
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€195,560
2025
Use the arrow keys on the chart for the figures per year.
Every figure with its change against the financial year before
favourable
unfavourable
Line2022202320242025
Operating result-€14,270-€20,716€36,581▲ 76.6%€33,057▼ 9.6%
Net result-€14,306-€10,358€17,100▲ 65.1%€15,243▼ 10.9%
Equity€175,933-€186,291▲ 5.9%€203,391▲ 9.2%€218,634▲ 7.5%
Total assets€649,827-€657,132▲ 1.1%€654,222▼ 0.4%€644,073▼ 1.6%
Debt€473,895-€470,841▼ 0.6%€450,831▼ 4.2%€425,440▼ 5.6%
Working capital-€473,676--€207,187▲ 56.3%-€200,657▲ 3.2%-€195,560▲ 2.5%
Turnover and EBIT margin not published: the micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €644,073
Fixed assets
€613,232 ▼ 2.1%
Current assets
€30,841 ▲ 11.1%
Equity and liabilities €644,073
Equity
€218,634 ▲ 7.5%
Debt
€425,440 ▼ 5.6%
Debt's share of the balance-sheet total falls from 68.9% to 66.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€46,278▼
2024 · €46,505
Cash flow
€28,464▲
2024 · €27,024
Current ratio
0.14▲
2024 · 0.12
Debt to equity
1.95▼
2024 · 2.22
ROE
7.0%▼
2024 · 8.4%
ROA
2.4%▼
2024 · 2.6%
Interest coverage
3.63▲
2024 · 3.08
Debt ≤ 1 year
€226,401▼
2024 · €228,425
Debt > 1 year
€197,061▼
2024 · €220,428
Income taxes
€5,081▲
2024 · €4,384
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13,232 | €13,232 | €9,924 | €13,221 | ▲ 33.2% |
| Other operating charges640/8 | - | €9,820 | €10,218 | €10,738 | ▲ 5.1% |
| Gross operating margin9900 | -€1,038 | €43,767 | €56,723 | €57,017 | ▲ 0.5% |
| Operating profit (loss)9901 | -€14,270 | €20,716 | €36,581 | €33,057 | ▼ 9.6% |
| Financial charges65/66B | €36 | €10,357 | €15,097 | €12,734 | ▼ 15.7% |
| Recurring financial charges65 | €36 | €10,357 | €15,097 | €12,734 | ▼ 15.7% |
| Profit (loss) for the period before taxes9903 | -€14,306 | €10,358 | €21,485 | €20,323 | ▼ 5.4% |
| Income taxes67/77 | - | - | €4,384 | €5,081 | ▲ 15.9% |
| Profit (loss) for the period9904 | -€14,306 | €10,358 | €17,100 | €15,243 | ▼ 10.9% |
| Profit (loss) for the period to be appropriated9905 | -€14,306 | €10,358 | €17,100 | €15,243 | ▼ 10.9% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €649,827 | €657,132 | €654,222 | €644,073 | ▼ 1.6% |
| Fixed assets21/28 | €649,609 | €636,377 | €626,453 | €613,232 | ▼ 2.1% |
| Tangible fixed assets22/27 | €177,007 | €163,775 | €153,851 | €140,630 | ▼ 8.6% |
| Land and buildings22 | €177,007 | €163,775 | €153,851 | €140,630 | ▼ 8.6% |
| Financial fixed assets28 | €472,602 | €472,602 | €472,602 | €472,602 | = |
| Current assets29/58 | €218 | €20,755 | €27,768 | €30,841 | ▲ 11.1% |
| Amounts receivable within one year40/41 | - | €4,179 | €5,428 | €10,452 | ▲ 92.6% |
| Trade receivables40 | - | - | €633 | €658 | ▲ 3.9% |
| Other amounts receivable41 | - | €4,179 | €4,794 | €9,794 | ▲ 104% |
| Cash at bank and in hand54/58 | €218 | €16,576 | €22,341 | €20,389 | ▼ 8.7% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €649,827 | €657,132 | €654,222 | €644,073 | ▼ 1.6% |
| Equity10/15 | €175,933 | €186,291 | €203,391 | €218,634 | ▲ 7.5% |
| Contributions10/11 | €11,635 | €11,635 | €11,635 | €11,635 | = |
| Reserves13 | €178,604 | €188,962 | €206,062 | €206,999 | ▲ 0.5% |
| Non-distributable reserves130/1 | €1,163 | €1,163 | €1,163 | €1,163 | = |
| Reserves not available under the articles1311 | €1,163 | €1,163 | €1,163 | €1,163 | = |
| Tax-exempt reserves132 | €134,080 | €134,080 | €134,080 | €134,080 | = |
| Distributable reserves133 | €43,361 | €53,719 | €70,819 | €71,756 | ▲ 1.3% |
| Profit (loss) carried forward14 | -€14,306 | -€14,306 | -€14,306 | - | - |
| Amounts payable17/49 | €473,895 | €470,841 | €450,831 | €425,440 | ▼ 5.6% |
| Amounts payable after more than one year17 | - | €242,900 | €220,428 | €197,061 | ▼ 10.6% |
| Financial debts170/4 | - | €242,900 | €220,428 | €197,061 | ▼ 10.6% |
| Amounts payable within one year42/48 | €473,895 | €227,941 | €228,425 | €226,401 | ▼ 0.9% |
| Current portion of amounts payable after more than one year42 | - | €21,604 | €22,472 | €23,367 | ▲ 4.0% |
| Trade debts44 | - | €384 | - | - | - |
| Suppliers440/4 | - | €384 | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €81 | - |
| Taxes450/3 | - | - | - | €81 | - |
| Other amounts payable47/48 | €473,895 | €205,953 | €205,953 | €202,953 | ▼ 1.5% |
| Accrued charges and deferred income492/3 | - | - | €1,978 | €1,978 | = |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€14,306 | €10,358 | €17,100 | €15,243 | ▼ 10.9% |
| + Depreciation and write-downs630 | €13,232 | €13,232 | €9,924 | €13,221 | ▲ 33.2% |
| Operating cash flow (approximation) | -€1,074 | €23,590 | €27,024 | €28,464 | ▲ 5.3% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | - |
| Change in cash | - | €16,358 | €5,765 | -€1,952 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (4)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 25-06-2026 | 2026-00206208 |
| 31-12-2024 | micro format | 28-07-2025 | 2025-00334220 |
| 31-12-2023 | micro format | 05-08-2024 | 2024-00332163 |
| 31-12-2022 | micro format | 16-06-2023 | 2023-00137569 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.