MPM
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 26-05-2026 PDF all 19 filings
Turnover
≈ €81,000
Estimated: probably between €42,000 and €160,000
Total assets
€605,588▼ 13.9%
2024 · €703,254
Net result
-€25,871▲ 40.2%
2024 · -€43,260
Working capital
-€3,303
2024 · €28,542
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€18,323
▲ 56.2%
2025
20182025
Net result
-€25,871
▲ 40.2%
2025
lowest quarter of the sector
20182025
Equity
€435,641
▼ 8.4%
2025
highest quarter of the sector
20182025
Total assets
€605,588
▼ 13.9%
2025
highest quarter of the sector
20182025
Debt
€169,947
▼ 25.3%
2025
20182025
Working capital
-€3,303
2025
lowest quarter of the sector
20182025
Solvency
71.9%
▲ 4.3pp
2025
middle half of the sector
20182025
Current ratio
0.91
▼ 0.43
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
-4.3%
▲ 1.9pp
2025
lowest quarter of the sector
20182025
Staff (FTE)
no figure
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€0.04m-€0.04m▲ 15.2%€0.02m▼ 52.3%€0.02m▼ 3.7%€0.001m▼ 96.4%€0.3m▲ 376×-€0.04m-€0.02m▲ 56.2%
Net result€0.01m-€0.01m▲ 26.6%-€0.001mwithin the sector's middle half-€0.004mbelow the sector's middle half▼ 538%-€0.02mbelow the sector's middle half▼ 396%€0.2mabove the sector's middle half-€0.04mbelow the sector's middle half-€0.03mbelow the sector's middle half▲ 40.2%
Equity€0.3m-€0.3m▲ 4.5%€0.3mwithin the sector's middle half▲ 1.9%€0.3mwithin the sector's middle half▼ 1.1%€0.3mwithin the sector's middle half▼ 5.5%€0.5mabove the sector's middle half▲ 64.7%€0.5mabove the sector's middle half▼ 8.3%€0.4mabove the sector's middle half▼ 8.4%
Total assets€1.1m-€1.0m▼ 5.6%€1.0mwithin the sector's middle half▼ 1.4%€0.9mwithin the sector's middle half▼ 6.8%€0.9mwithin the sector's middle half▼ 6.6%€0.8mabove the sector's middle half▼ 10.1%€0.7mabove the sector's middle half▼ 10.0%€0.6mabove the sector's middle half▼ 13.9%
Debt€0.7m-€0.7m▼ 9.5%€0.7m▼ 3.2%€0.6m▼ 10.0%€0.5m▼ 8.3%€0.3m▼ 51.4%€0.2m▼ 13.3%€0.2m▼ 25.3%
Working capital€0.03m-€0.06m▲ 133%€0.06mwithin the sector's middle half▲ 4.2%€0.07mwithin the sector's middle half▲ 19.5%€0.07mwithin the sector's middle half▼ 8.2%€0.1mabove the sector's middle half▲ 71.0%€0.03mwithin the sector's middle half▼ 74.9%-€0.003mbelow the sector's middle half
Solvency29.5%-32.7%▲ 3.1pp33.8%within the sector's middle half▲ 1.1pp35.9%within the sector's middle half▲ 2.1pp36.3%within the sector's middle half▲ 0.4pp66.4%within the sector's middle half▲ 30.2pp67.6%within the sector's middle half▲ 1.2pp71.9%within the sector's middle half▲ 4.3pp
Current ratio1.26-1.63▲ 0.371.65within the sector's middle half▲ 0.021.78within the sector's middle half▲ 0.141.58within the sector's middle half▼ 0.212.10within the sector's middle half▲ 0.521.35within the sector's middle half▼ 0.750.91below the sector's middle half▼ 0.43
Return on assets (ROA)1.0%-1.4%▲ 0.4pp-0.1%within the sector's middle half▼ 1.5pp-0.4%below the sector's middle half▼ 0.3pp-2.1%below the sector's middle half▼ 1.7pp26.1%within the sector's middle half▲ 28.2pp-6.2%below the sector's middle half▼ 32.2pp-4.3%below the sector's middle half▲ 1.9pp
Staff (FTE)1.6-1.2▼ 25.0%2within the sector's middle half▲ 66.7%2within the sector's middle half=2within the sector's middle half=
above
within
below
The sector band is the middle half of the companies in Office administrative, office support and other business support activities (NACE 82). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a loss of €18,323, smaller than the loss of €41,840 in 2024.
Turnover and EBIT margin are not published. The abbreviated or 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
Assets €605,588
Fixed assets
€570,815 ▼ 3.7%
Current assets
€34,773 ▼ 68.6%
Equity and liabilities €605,588
Equity
€435,641 ▼ 8.4%
Debt
€169,947 ▼ 25.3%
Debt's share of the balance-sheet total falls from 32.4% to 28.1%. Equity and debt are lower.
Key figures and ratios
EBITDA
€10,849▲
2024 · -€13,393
Cash flow
€3,301▲
2024 · -€14,814
Debt to equity
0.39▼
2024 · 0.48
ROE
-5.9%▲
2024 · -9.1%
Interest coverage
1.32▲
2024 · -1.51
Debt ≤ 1 year
€38,075▼
2024 · €82,243
Debt > 1 year
€129,617▼
2024 · €143,270
Income taxes
-€384▼
2024 · €6
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 |
|---|---|---|
| Employees at the balance-sheet date | 2 | 2 |
| full-time | 2 | 2 |
| in full-time equivalents | 2 | 2 |
| Average over the year, in full-time equivalents | 2 | 2 |
| On a permanent contract | 2 | 2 |
Source: social balance sheet in the 2021 to 2022 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €7,840 | €17,344 | - | €57,331 | €7,519 |
| Depreciation and write-downs of the year | €85,843 | €76,296 | €31,665 | €28,447 | €29,172 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2025 · 1 entry · €1,742 awarded · €1,742 paidAnnual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | €18,539 | €5,780 | €0 | ▼ 100% |
| Remuneration, social security and pensions62 | - | - | - | €67,805 | €111,966 | €53,163 | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €92,599 | €91,288 | €93,799 | €85,843 | €76,296 | €31,665 | €28,447 | €29,172 | ▲ 2.5% |
| Other operating charges640/8 | - | - | - | €2,502 | €2,417 | €2,780 | €3,595 | €2,982 | ▼ 17.1% |
| Non-recurring operating charges66A | - | - | - | - | - | €91,099 | €0 | - | - |
| Gross operating margin9900 | €210,567 | €204,493 | €173,426 | €176,362 | €191,403 | €451,198 | -€9,798 | €13,831 | - |
| Operating profit (loss)9901 | €38,189 | €44,012 | €20,983 | €20,212 | €724 | €272,491 | -€41,840 | -€18,323 | ▲ 56.2% |
| Financial income75/76B | - | - | - | - | - | €8,718 | €7,432 | €273 | ▼ 96.3% |
| Recurring financial income75 | - | - | - | - | - | €8,718 | €7,432 | €273 | ▼ 96.3% |
| Financial charges65/66B | - | - | - | €20,176 | €14,191 | €7,796 | €8,846 | €8,205 | ▼ 7.2% |
| Recurring financial charges65 | €20,710 | €19,938 | €17,589 | €20,176 | €14,191 | €7,796 | €8,846 | €8,205 | ▼ 7.2% |
| Profit (loss) for the period before taxes9903 | €17,479 | €24,074 | €3,394 | €36 | -€13,467 | €273,413 | -€43,254 | -€26,255 | ▲ 39.3% |
| Income taxes67/77 | €6,253 | €9,858 | €3,976 | €3,751 | €4,944 | €69,559 | €6 | -€384 | - |
| Profit (loss) for the period9904 | €11,226 | €14,216 | -€582 | -€3,715 | -€18,411 | €203,853 | -€43,260 | -€25,871 | ▲ 40.2% |
| Profit (loss) for the period to be appropriated9905 | €11,226 | €14,216 | -€582 | -€3,715 | -€18,411 | €203,853 | -€43,260 | -€25,871 | ▲ 40.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.1m | €1.0m | €1.0m | €0.9m | €0.9m | €0.8m | €0.7m | €0.6m | ▼ 13.9% |
| Fixed assets21/28 | €0.9m | €0.9m | €0.8m | €0.8m | €0.7m | €0.6m | €0.6m | €0.6m | ▼ 3.7% |
| Tangible fixed assets22/27 | €0.9m | €0.9m | €0.8m | €0.8m | €0.7m | €0.6m | €0.6m | €0.6m | ▼ 3.7% |
| Land and buildings22 | - | - | - | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | ▼ 2.9% |
| Plant, machinery and equipment23 | - | - | - | €0.1m | €0.09m | €0 | €0.003m | €0.003m | ▼ 10.6% |
| Furniture and vehicles24 | - | - | - | €0.02m | €232 | €0 | €0.02m | €0.02m | ▼ 21.5% |
| Current assets29/58 | €0.1m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.1m | €0.03m | ▼ 68.6% |
| Amounts receivable within one year40/41 | €0.1m | €0.1m | €0.1m | €0.1m | €0.2m | €0.2m | €0.1m | €0.03m | ▼ 71.3% |
| Trade receivables40 | - | - | - | €0.03m | €0.02m | €0.01m | €0.008m | €0 | ▼ 100% |
| Other amounts receivable41 | - | - | - | €0.1m | €0.2m | €0.2m | €0.09m | €0.03m | ▼ 68.7% |
| Cash at bank and in hand54/58 | - | €0.005m | €0.03m | €0.02m | - | €0.002m | €0.01m | €0.006m | ▼ 39.5% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | €0 | €0.001m | €0 | ▼ 100% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.1m | €1.0m | €1.0m | €0.9m | €0.9m | €0.8m | €0.7m | €0.6m | ▼ 13.9% |
| Equity10/15 | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.5m | €0.5m | €0.4m | ▼ 8.4% |
| Contributions10/11 | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | = |
| Reserves13 | €0.2m | €0.2m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.2m | ▼ 5.6% |
| Non-distributable reserves130/1 | - | - | - | €0.02m | €0.02m | €0.002m | €0.002m | €0.002m | = |
| Other1319 | - | - | - | €0.02m | €0.02m | €0.002m | €0.002m | €0.002m | = |
| Distributable reserves133 | - | - | - | €0.2m | €0.2m | €0.3m | €0.3m | €0.2m | ▼ 5.6% |
| Profit (loss) carried forward14 | €0.02m | - | -€0.001m | -€0.004m | -€0.02m | €0.2m | €0.1m | €0.1m | ▼ 18.8% |
| Provisions and deferred taxes16 | €0.01m | €0.006m | €0.007m | €0.008m | €0.01m | - | - | - | - |
| Provisions for liabilities and charges160/5 | - | - | - | €0.008m | €0.01m | - | - | - | - |
| Other liabilities and charges164/5 | - | - | - | €0.008m | €0.01m | - | - | - | - |
| Amounts payable17/49 | €0.7m | €0.7m | €0.7m | €0.6m | €0.5m | €0.3m | €0.2m | €0.2m | ▼ 25.3% |
| Amounts payable after more than one year17 | €0.6m | €0.6m | €0.6m | €0.5m | €0.4m | €0.2m | €0.1m | €0.1m | ▼ 9.5% |
| Financial debts170/4 | - | - | - | €0.5m | €0.4m | €0.2m | €0.1m | €0.1m | ▼ 9.5% |
| Amounts payable within one year42/48 | €0.1m | €0.09m | €0.09m | €0.09m | €0.1m | €0.1m | €0.08m | €0.04m | ▼ 53.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.07m | €0.08m | €0.03m | €0.01m | €0.01m | ▲ 4.1% |
| Financial debts43 | - | - | - | - | €0.01m | €0 | - | - | - |
| Credit institutions430/8 | - | - | - | - | €0.01m | €0 | - | - | - |
| Trade debts44 | €0.007m | - | €0.007m | €0.01m | €0.01m | €0.004m | €0.001m | €0.006m | ▲ 340% |
| Suppliers440/4 | - | - | - | €0.01m | €0.01m | €0.004m | €0.001m | €0.006m | ▲ 340% |
| Taxes, remuneration and social security45 | - | - | - | €0.008m | €0.02m | €0.07m | €0.07m | €95 | ▼ 99.9% |
| Taxes450/3 | - | - | - | €0.008m | €0.004m | €0.07m | €0.07m | €95 | ▼ 99.9% |
| Remuneration and social security454/9 | - | - | - | - | €0.01m | €0 | - | - | - |
| Other amounts payable47/48 | - | - | - | - | - | - | - | €0.02m | - |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | €0.002m | €0.002m | ▲ 12.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €11,226 | €14,216 | -€582 | -€3,715 | -€18,411 | €203,853 | -€43,260 | -€25,871 | ▲ 40.2% |
| + Depreciation and write-downs630 | €92,599 | €91,288 | €93,799 | €85,843 | €76,296 | €31,665 | €28,447 | €29,172 | ▲ 2.5% |
| Operating cash flow (approximation) | €103,825 | €105,504 | €93,217 | €82,128 | €57,885 | €235,519 | -€14,814 | €3,301 | - |
| Investment in fixed assets (approximation) | - | -€3,207 | -€75,229 | -€7,840 | €2,336 | €91,099 | -€57,331 | -€7,519 | ▲ 86.9% |
| Change in cash | - | - | €20,127 | -€7,817 | - | - | €7,908 | -€3,867 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 2,686 companies had the same profile as MPM has now. Two years later, 93.7% were still going and 0.6% had gone bankrupt.
- Small
- 10 to 20 years old
- solvency 30% or more
- a small loss
93.7%
was still going
5.4%
stopped otherwise
0.6%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of MPM itself: 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 2,686 companies, not a prediction for MPM. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 19 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 26-05-2026 | 2026-00125192 | |
| 31-12-2024 | micro format | 15-05-2025 | 2025-00100111 | |
| 31-12-2023 | micro format | 25-07-2024 | 2024-00305498 | |
| 31-12-2022 | abbreviated format | 23-09-2023 | 2023-00452039 | |
| 31-12-2021 | abbreviated format | 26-07-2022 | 2022-20232434 | |
| 31-12-2020 | abbreviated format | 28-10-2021 | 2021-73900533 | |
| 31-12-2019 | abbreviated format | 22-09-2020 | 2020-54700184 | |
| 31-12-2018 | abbreviated format | 04-09-2019 | 2019-62700287 | |
| 31-12-2017 | abbreviated format | 19-09-2018 | 2018-63400578 | |
| 31-12-2016 | abbreviated format | 10-08-2017 | 2017-42500313 |