MPRA

Open bankruptcy

Public limited companyfounded 2015Hospitaalweg(Mar) 1 C, 8510 Kortrijk, BelgiumKBO/BCE: BE 0629.754.583

A bankruptcy procedure is open for MPRA according to publications in the Belgian State Gazette; curator: GUY DELABIE. The file additionally contains 2 judicial reorganisations. The 2025 annual accounts show equity of €394k and a net result of €393k.

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Signals

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

+raises risk○neutral

Weak solvency vs sector

Solvency (equity / total assets) is in the sector's weakest quartile: better than 22% of 238 sector peers (2025).

NBB · sector comparison

Position among 238 sector peers

Solvency

better than 22%

← weakest strongest →

The KBO register records the legal situation: open bankruptcy (code 050). This is today's state according to the register itself; the register carries no start date.

KBO · legal situation

Open bankruptcy

Active bankruptcy procedure in the Belgisch Staatsblad. Claims are handled by the appointed curator.

Belgian State Gazette

Latest accounts filed on time

The financial year that closed on 31-10-2025 was due by 31-05-2026 and was filed on 29-05-2026, 2 days ahead of the deadline.

NBB · 9 filings

Deviation from the deadline

2025

2 d early

2024

30 d late

2023

29 d early

2022

29 d early

2021

on the day

2019

35 d early

2018

36 d early

← before the deadline after the deadline →

The next deadline is still running

The next financial year closes on 31-10-2026 and is due by 31-05-2027. Nothing is late today.

Companies Code · seven months

Position in the running window

22-09-2026 today31-10-2026 close31-05-2027 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, abbreviated schema

Equity

€394k▲ 40,662%

2024 · €966

2018: €313k 2019: €338k 2021: €-45k 2022: €54k 2023: €126k 2024: €966

2018 → 2025

Total assets

€2.99M▼ 3.1%

2024 · €3.09M

2018: €2.77M 2019: €2.61M 2021: €3.06M 2022: €2.92M 2023: €3.27M 2024: €3.09M

2018 → 2025

Net result

€393k

2024 · €-125k

2018: €752 2019: €25k 2021: €-883k 2022: €99k 2023: €72k 2024: €-125k

2018 → 2025

Working capital

€746k▲ 221%

2024 · €232k

2018: €-152k 2019: €-113k 2021: €589k 2022: €379k 2023: €444k 2024: €232k

2018 → 2025

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20212022202320242025Trend

Equity€-45k-€54k€126k▲ 132%€966▼ 99.2%€394k▲ 40,662%

Operating result€-810k-€137k€154k▲ 12.7%€-2k€484k

Net result€-883k-€99k€72k▼ 27.6%€-125k€393k

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

Result per fiscal year

Operating resultNet result

The operating result returns to profit in 2025: €484k after a loss of €2k in 2024, the highest result in the available series.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €2.99M

92.4%

Fixed assets €226k▼ 31.5%

Current assets €2.76M▲ 0.3%

Equity and liabilities €2.99M

13.2%

86.8%

Equity €394k▲ 40,662%

Debt €2.60M▼ 15.8%

The debt ratio falls from 100.0% to 86.8%. Equity is higher and debt is lower.

Key figures and ratios

2025 value · change against 2024

EBITDA

€599k▲

2024 · €113k

Cash flow

€508k▲

2024 · €-11k

Solvency

13.2%▲

2024 · 0.0%

Current ratio

1.37▲

2024 · 1.09

Quick ratio

0.19▲

2024 · 0.09

Debt / equity

6.59

ROE

99.8%

ROA

13.1%▲

2024 · -4.1%

Interest coverage

6.14▲

2024 · 0.82

Debt

€2.60M▼

2024 · €3.08M

Debt ≤ 1 year

€2.02M▼

2024 · €2.52M

Debt > 1 year

€578k▲

2024 · €545k

Income taxes

€577▼

2024 · €667

Staff costs

€897k▼

2024 · €1.04M

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€3.09M€2.99M▼

Fixed assets21/28€330k€226k▼

Intangible fixed assets21€198k€148k▼

Tangible fixed assets22/27€103k€48k▼

Plant, machinery and equipment23€88k€32k▼

Furniture and vehicles24€15k€16k▲

Financial fixed assets28€30k€30k=

Current assets29/58€2.76M€2.76M▲

Stocks and contracts in progress3€2.54M€2.39M▼

Stocks30/36€1.36M€1.14M▼

Contracts in progress37€1.18M€1.25M▲

Amounts receivable within one year40/41€141k€323k▲

Trade receivables40€125k€286k▲

Other amounts receivable41€16k€37k▲

Cash at bank and in hand54/58€3k€6k▲

Deferred charges and accrued income490/1€72k€46k▼

Equity and liabilities

Total equity and liabilities10/49€3.09M€2.99M▼

Equity10/15€966€394k▲

Contributions10/11€900k€900k=

Capital10€900k€900k=

Issued capital100€900k€900k=

Profit (loss) carried forward14€-899k€-506k▲

Amounts payable17/49€3.08M€2.60M▼

Amounts payable after more than one year17€545k€578k▲

Financial debts170/4€545k€578k▲

Amounts payable within one year42/48€2.52M€2.02M▼

Current portion of amounts payable after more than one year42€311k€88k▼

Financial debts43€1.28M€1.25M▼

Credit institutions430/8€1.28M€1.25M▼

Trade debts44€841k€395k▼

Suppliers440/4€841k€395k▼

Taxes, remuneration and social security45€49k€248k▲

Taxes450/3€17k€122k▲

Remuneration and social security454/9€32k€126k▲

Other amounts payable47/48€36k€36k▼

Accrued charges and deferred income492/3€16k€0▼

Income statement Code20242025

Non-recurring operating income76A-€1.10M

Remuneration, social security and pensions62€1.04M€897k▼

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€115k€115k▲

Other operating charges640/8€15k€23k▲

Gross operating margin9900€1.17M€1.52M▲

Operating profit (loss)9901€-2k€484k▲

Financial income75/76B€15k€7k▼

Recurring financial income75€15k€7k▼

Financial charges65/66B€137k€98k▼

Recurring financial charges65€137k€98k▼

Profit (loss) for the period before taxes9903€-125k€393k▲

Income taxes67/77€667€577▼

Profit (loss) for the period9904€-125k€393k▲

Profit (loss) for the period to be appropriated9905€-125k€393k▲

Appropriation of the result

Profit (loss) to be appropriated9906€-899k€-506k▲

Profit (loss) brought forward from the previous period14P€-774k€-899k▼

Social balance

Average headcount (FTE)908719.819.0▼

The notes to these accounts (27 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 17Signals 3Financial 5Filings 9

Next filing, fiscal year 2026, expected by 31-05-2027

2026

29-06

Bankruptcy Opening

Ondernemingsrechtbank Gent, afdeling Kortrijk · MPRA NV HOSPITAALWEG- (MAR) 1C, 8510 KORTRIJK-MARKE · event 23-06-2026

29-05

NBB filing Annual accounts filed

fiscal year 2025 · abbreviated schema

2025

31-10

Financial Back to profitnet €393k

Net result €393k after one loss-making year.

31-10

Financial Equity above €200kEq €394k ▲40662%

Equity rises from €966 to €394k.

21-10

Judicial reorganisation Plan homologation

Ondernemingsrechtbank Gent · 20250005 · event 10-10-2025

30-06

NBB filing Annual accounts filed

fiscal year 2024 · abbreviated schema · 30 days late

13-06

Judicial reorganisation Opening

Ondernemingsrechtbank Gent · collectif · event 10-06-2025

2024

02-05

NBB filing Annual accounts filed

fiscal year 2023 · abbreviated schema

2023

31-10

Financial Equity above €100kEq €126k ▲132%

2 profitable years in a row build equity to €126k.

02-05

NBB filing Annual accounts filed

fiscal year 2022 · abbreviated schema

2022

31-10

Financial Back to profitnet €99k

Net result €99k after one loss-making year.

31-05

NBB filing Annual accounts filed

fiscal year 2021 · abbreviated schema

2021

31-10

Financial Weakest financial yearnet €-883k ▼3682%

Net result drops to €-883k, the lowest in the series.

2020

26-06

NBB filing Annual accounts filed

fiscal year 2019 · abbreviated schema

2019

25-06

NBB filing Annual accounts filed

fiscal year 2018 · abbreviated schema

2018

29-03

NBB filing Annual accounts filed

fiscal year 2017 · abbreviated schema

2017

29-06

NBB filing Annual accounts filed

fiscal year 2016 · abbreviated schema

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

Directors · office · real estate

Directors

4 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, Kortrijk · 1 establishment unit since 2015

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.

Hospitaalweg(Mar) 1 C8510 Kortrijk

Ground area

5,539 m²

Building footprint

3,588 m²

Volume, LiDAR

23,168 m³

2 parcels, Flanders · tallest building 10.0 m, ±2 floors. Linked by address, not a title deed.

1 establishment unit

FIBROCIT

Hospitaalweg(Mar) 1C, 8510 KortrijkManufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials

since 20152.241.585.371

2 parcels

Flanders 2 (100%)