MPOWER
ActiveSummary
MPOWER has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €163k and a net result of €-21k. Equity is shrinking by ~10.1% per year across the filed fiscal years. Its solvency ranks better than 61% of 11389 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability10=
Solvency81▼-3
Growth32=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €8k at 30 days acceptable
Liquidity short (current ratio 0.02 against 0.04 in 2024; short-term debt: 43.7% and cash: 0.5% of total assets), and 43.7% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
+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 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-21k
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 22-07-2026, 9 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
9 d early
2024
2 d early
2023
29 d late
2022
26 d late
2021
26 d late
2020
32 d early
2019
26 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · 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 monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-21k▲ 7.6%
2024 · €-23k
2018: €238khighest in 8 years
2019: €59k▼ -75.2% vs 2018
2020: €-20k▼ -134% vs 2019
2021: €-29k▼ -43.3% vs 2020
2022: €-25k▲ +14.7% vs 2021
2023: €-30k▼ -20.4% vs 2022lowest in 8 years
2024: €-23k▲ +23.8% vs 2023
2025: €-21k▲ +7.6% vs 2024
2018 → 2025
Working capital
€-123k▼ 0.6%
2024 · €-122k
2018: €-259klowest in 8 years
2019: €-160k▲ +38.1% vs 2018
2020: €-114k▲ +28.6% vs 2019
2021: €-105k▲ +8.5% vs 2020highest in 8 years
2022: €-109k▼ -4.2% vs 2021
2023: €-121k▼ -11.1% vs 2022
2024: €-122k▼ -0.9% vs 2023
2025: €-123k▼ -0.6% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€260k-€236k▼ 9.5%€206k▼ 12.6%€184k▼ 11.0%€163k▼ 11.4%
2021: €260khighest in 5 years
2022: €236k▼ -9.5% vs 2021
2023: €206k▼ -12.6% vs 2022
2024: €184k▼ -11.0% vs 2023
2025: €163k▼ -11.4% vs 2024lowest in 5 years
Operating result€-29k-€-24k▲ 14.7%€-30k▼ 20.5%€-22k▲ 23.9%€-21k▲ 7.6%
2021: €-29k
2022: €-24k▲ +14.7% vs 2021
2023: €-30k▼ -20.5% vs 2022lowest in 5 years
2024: €-22k▲ +23.9% vs 2023
2025: €-21k▲ +7.6% vs 2024highest in 5 years
Net result€-29k-€-25k▲ 14.7%€-30k▼ 20.4%€-23k▲ 23.8%€-21k▲ 7.6%
2021: €-29k
2022: €-25k▲ +14.7% vs 2021
2023: €-30k▼ -20.4% vs 2022lowest in 5 years
2024: €-23k▲ +23.8% vs 2023
2025: €-21k▲ +7.6% vs 2024highest in 5 years
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €21k in 2025 against €22k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €289k
Fixed assets
€286k ▼ 6.6%
Current assets
€3k ▼ 36.9%
Equity and liabilities €289k
Equity
€163k ▼ 11.4%
Debt
€126k ▼ 0.8%
Debt's share of the balance-sheet total rises from 40.9% to 43.7%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-648▲
2024 · €-978
Cash flow
€-772▲
2024 · €-1k
Current ratio
0.02▼
2024 · 0.04
Debt to equity
0.78▲
2024 · 0.69
ROE
-12.8%▼
2024 · -12.3%
ROA
-7.2%▲
2024 · -7.3%
Interest coverage
-5.20▲
2024 · -7.46
Debt ≤ 1 year
€126k▼
2024 · €127k
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 · 2025 against 2024 · 31 lines
Balance sheet
Code20242025
Assets
Total assets20/58€311k€289k▼
Fixed assets21/28€306k€286k▼
Tangible fixed assets22/27€306k€286k▼
Land and buildings22€306k€286k▼
Current assets29/58€5k€3k▼
Amounts receivable within one year40/41€343€56▼
Other amounts receivable41€343€56▼
Cash at bank and in hand54/58€3k€2k▼
Deferred charges and accrued income490/1€1k€1k▼
Equity and liabilities
Total equity and liabilities10/49€311k€289k▼
Equity10/15€184k€163k▼
Contributions10/11€12k€12k=
Reserves13€60k€60k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€58k€58k=
Profit (loss) carried forward14€111k€90k▼
Amounts payable17/49€127k€126k▼
Amounts payable within one year42/48€127k€126k▼
Other amounts payable47/48€127k€126k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€21k€20k▼
Other operating charges640/8€4k€4k▲
Gross operating margin9900€3k€3k▲
Operating profit (loss)9901€-22k€-21k▲
Financial charges65/66B€131€125▼
Recurring financial charges65€131€125▼
Profit (loss) for the period before taxes9903€-23k€-21k▲
Profit (loss) for the period9904€-23k€-21k▲
Profit (loss) for the period to be appropriated9905€-23k€-21k▲
Appropriation of the result
Profit (loss) to be appropriated9906€111k€90k▼
Profit (loss) brought forward from the previous period14P€134k€111k▼
The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €33k | €28k | €24k | €21k | €20k | ▼ 6.4% |
| Other operating charges640/8 | €3k | €3k | €4k | €4k | €4k | ▲ 1.6% |
| Gross operating margin9900 | €7k | €7k | €-2k | €3k | €3k | ▲ 14.4% |
| Operating profit (loss)9901 | €-29k | €-24k | €-30k | €-22k | €-21k | ▲ 7.6% |
| Financial charges65/66B | €132 | €127 | €125 | €131 | €125 | ▼ 5.0% |
| Recurring financial charges65 | €132 | €127 | €125 | €131 | €125 | ▼ 5.0% |
| Profit (loss) for the period before taxes9903 | €-29k | €-25k | €-30k | €-23k | €-21k | ▲ 7.6% |
| Income taxes67/77 | €16 | - | - | - | - | - |
| Profit (loss) for the period9904 | €-29k | €-25k | €-30k | €-23k | €-21k | ▲ 7.6% |
| Profit (loss) for the period to be appropriated9905 | €-29k | €-25k | €-30k | €-23k | €-21k | ▲ 7.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €440k | €367k | €332k | €311k | €289k | ▼ 7.0% |
| Fixed assets21/28 | €371k | €351k | €327k | €306k | €286k | ▼ 6.6% |
| Tangible fixed assets22/27 | €371k | €351k | €327k | €306k | €286k | ▼ 6.6% |
| Land and buildings22 | €367k | €350k | €327k | €306k | €286k | ▼ 6.6% |
| Plant, machinery and equipment23 | €3k | - | - | - | - | - |
| Furniture and vehicles24 | €1k | €596 | - | - | - | - |
| Current assets29/58 | €68k | €16k | €5k | €5k | €3k | ▼ 36.9% |
| Amounts receivable within one year40/41 | €50k | €287 | €65 | €343 | €56 | ▼ 83.8% |
| Other amounts receivable41 | €50k | €287 | €65 | €343 | €56 | ▼ 83.8% |
| Cash at bank and in hand54/58 | €18k | €14k | €4k | €3k | €2k | ▼ 48.3% |
| Deferred charges and accrued income490/1 | - | €2k | €1k | €1k | €1k | ▼ 0.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €440k | €367k | €332k | €311k | €289k | ▼ 7.0% |
| Equity10/15 | €260k | €236k | €206k | €184k | €163k | ▼ 11.4% |
| Contributions10/11 | €12k | €12k | €12k | €12k | €12k | = |
| Reserves13 | €60k | €60k | €60k | €60k | €60k | = |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | €2k | €2k | €2k | €2k | €2k | = |
| Distributable reserves133 | €58k | €58k | €58k | €58k | €58k | = |
| Profit (loss) carried forward14 | €188k | €163k | €134k | €111k | €90k | ▼ 18.8% |
| Amounts payable17/49 | €179k | €131k | €126k | €127k | €126k | ▼ 0.8% |
| Amounts payable within one year42/48 | €173k | €125k | €126k | €127k | €126k | ▼ 0.8% |
| Trade debts44 | - | - | €46 | - | - | - |
| Suppliers440/4 | - | - | €46 | - | - | - |
| Other amounts payable47/48 | €173k | €125k | €126k | €127k | €126k | ▼ 0.8% |
| Accrued charges and deferred income492/3 | €6k | €6k | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-29k | €-25k | €-30k | €-23k | €-21k | ▲ 7.6% |
| + Depreciation and write-downs630 | €33k | €28k | €24k | €21k | €20k | ▼ 6.4% |
| Operating cash flow (approximation) | €4k | €3k | €-6k | €-1k | €-772 | ▲ 30.4% |
| Investment in fixed assets (approximation) | - | €-8k | €0 | €0 | €0 | - |
| Change in cash | - | €-5k | €-10k | €-568 | €-1k | ▼ 157% |
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
Next filing, fiscal year 2026, expected by
2026
22-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
29-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 29 days late
2023
31-12
Financial
Weakest financial yearnet €-30k
Net result drops to €-30k, the lowest in the series; recovery starts the following year.
26-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 26 days late
2022
26-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 26 days late
2021
29-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
26-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 26 days late
2019
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 29 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, Ciney · 1 establishment unit since 2017
Ground area
7,545 m²
Building footprint
307 m²
Parcel 91030D0163/00G010, Wallonia. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
MPOWER
since 20172.269.277.188
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 91030D0163/00G010 | Wallonia | 7,545 m² | 1 · 307 m² | - |
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
BELGIAN ART COMPANY
BE 0465.346.414
Gent · Eq €162,674
MHK Project
BE 0649.645.325
Elsene · Eq €162,738
D EN D FOOD
BE 0446.747.059
Kortrijk · Eq €162,804
JULANTIQUES
BE 0805.946.472
Hastière · Eq €162,395
INSULO
BE 0429.430.381
Tielt · Eq €162,039
Of 6,155 companies in sector 46190 we hold annual accounts for 2,571. 1,910 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
Founded25-10-2017
Fiscal year end31-12
Activities, NACEBEL 2025
46190Agents in non-specialised wholesale trade
68110Buying and selling of own real estate
70200Business and other management consultancy
79110Travel agency activities
82100Office administrative and support services
86995Nutrition and dietetics services
Contact
E-mail
richardmarsaud@gmail.comCiney
Phone
0475-907.123Ciney
Scores and ratios are computed by Checked and are not a credit decision.