MQB
Annual accounts 2025
micro format, filed on 03-09-2026, 34 days lateTurnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €240,000. Estimated: probably between €160,000 and €410,000.
Balance sheet
balance sheet total €203,535 on 31-12-2025in euro
in euro
Position in the sector
28.4%
Higher than 48% of 2,055 companies in 2025.
0.99
Higher than 48% of 1,955 companies in 2025.
7.2%
Higher than 67% of 1,978 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: middle half · Working capital: middle half
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||
20/58 |
203,535 | 230,270 | 307,144 | 291,736 | 102,477 | 42,591 | 40,475 | 39,313 | |
21/28 |
64,074 | 121,042 | 179,867 | 75,835 | 51,136 | 28,537 | 20,123 | 20,336 | |
22/27 |
64,074 | 121,042 | 179,867 | 75,835 | 51,136 | 28,537 | 20,123 | 20,336 | |
23 |
11,095 | 20,035 | 28,975 | 38,134 | 437 | 656 | 875 | 835 | |
24 |
52,979 | 101,006 | 150,892 | 37,701 | 50,699 | 27,881 | 19,248 | 19,501 | |
29/58 |
139,460 | 109,228 | 127,277 | 215,901 | 51,341 | 14,054 | 20,352 | 18,977 | |
3 |
- | - | 5,874 | - | - | - | - | - | |
30/36 |
- | - | 5,874 | - | - | - | - | - | |
40/41 |
54,847 | 63,688 | 56,343 | 51,143 | 46,044 | 12,887 | 16,192 | 13,161 | |
40 |
12,664 | 22,996 | 19,233 | 51,143 | 43,679 | 10,679 | 15,379 | 6,989 | |
41 |
42,183 | 40,692 | 37,110 | - | 2,365 | 2,208 | 813 | 6,173 | |
54/58 |
84,045 | 44,980 | 64,997 | 164,758 | 5,297 | 1,167 | 4,160 | 5,816 | |
490/1 |
569 | 560 | 62 | - | - | - | - | - | |
| Balance sheet: equity and liabilities | |||||||||
10/49 |
203,535 | 230,270 | 307,144 | 291,736 | 102,477 | 42,591 | 40,475 | 39,313 | |
10/15 |
57,855 | 43,112 | 52,322 | 54,542 | 18,929 | 2,271 | 6,662 | 6,572 | |
10/11 |
6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | |
101 |
- | - | - | - | - | - | 12,400 | 12,400 | |
13 |
51,655 | 36,912 | 46,122 | 48,342 | 12,729 | 462 | 462 | 372 | |
130/1 |
462 | 462 | 462 | 462 | 462 | 462 | - | - | |
130 |
- | - | - | - | - | - | 462 | 372 | |
1311 |
462 | 462 | 462 | 462 | 462 | 462 | - | - | |
133 |
51,193 | 36,450 | 45,660 | 47,880 | 12,267 | - | - | - | |
14 |
- | - | - | - | - | -4,392 | - | - | |
17/49 |
145,679 | 187,158 | 254,822 | 237,193 | 83,547 | 40,320 | 33,813 | 32,741 | |
17 |
4,662 | 32,281 | 59,310 | 85,762 | - | - | - | - | |
170/4 |
4,662 | 32,281 | 59,310 | 85,762 | - | - | - | - | |
42/48 |
141,018 | 154,877 | 195,512 | 149,094 | 83,547 | 40,320 | 33,813 | 32,741 | |
42 |
29,894 | 29,256 | 28,631 | 25,888 | - | - | - | - | |
44 |
5,756 | 19,610 | 51,891 | 3,954 | 11,879 | 183 | - | - | |
440/4 |
5,756 | 19,610 | 51,891 | 3,954 | 11,879 | 183 | - | - | |
45 |
13,295 | 13,878 | 25,409 | 21,940 | 531 | - | 94 | 472 | |
450/3 |
13,295 | 13,878 | 25,409 | 21,940 | 531 | - | 94 | 472 | |
47/48 |
92,073 | 92,133 | 89,581 | 97,312 | 71,137 | 40,137 | 33,718 | 32,269 | |
492/3 |
- | - | - | 2,337 | - | - | - | - | |
| Income statement | |||||||||
76A |
- | - | 1,164 | - | - | - | - | - | |
9900 |
79,615 | 54,521 | 55,790 | 71,475 | 31,368 | 7,948 | 10,850 | 27,403 | |
630 |
56,967 | 58,826 | 52,948 | 20,001 | 13,251 | 11,526 | 10,507 | 25,234 | |
640/8 |
1,004 | 1,180 | 3,573 | 240 | 675 | 585 | 54 | 231 | |
9901 |
21,645 | -5,484 | -731 | 51,234 | 17,442 | -4,162 | 289 | 1,939 | |
75/76B |
0 | 3 | 70 | - | - | - | - | 1 | |
75 |
0 | 3 | 0 | - | - | - | - | 1 | |
76B |
- | - | 70 | - | - | - | - | - | |
65/66B |
1,462 | 2,208 | 2,386 | 2,808 | 252 | 229 | 192 | 199 | |
65 |
1,462 | 2,208 | 2,386 | 2,808 | 252 | 229 | 192 | 199 | |
9903 |
20,183 | -7,689 | -3,048 | 48,426 | 17,190 | -4,392 | 97 | 1,740 | |
67/77 |
5,440 | 1,521 | -827 | 12,813 | 531 | - | 7 | 88 | |
9904 |
14,743 | -9,210 | -2,220 | 35,613 | 16,659 | -4,392 | 90 | 1,652 | |
9905 |
14,743 | -9,210 | -2,220 | 35,613 | 16,659 | -4,392 | 90 | 1,652 | |
| Appropriation of the result | |||||||||
9906 |
14,743 | -9,210 | -2,220 | 35,613 | 12,267 | -4,392 | 90 | 1,652 | |
14P |
- | - | - | - | -4,392 | - | - | - | |
791/2 |
- | 9,210 | 2,220 | - | - | - | - | - | |
691/2 |
14,743 | - | - | 35,613 | 12,267 | - | 90 | 372 | |
6920 |
- | - | - | - | - | - | 90 | 372 | |
6921 |
14,743 | - | - | 35,613 | 12,267 | - | - | - | |
694/7 |
- | - | - | - | - | - | - | 1,280 | |
694 |
- | - | - | - | - | - | - | 1,280 | |
| Document | |||||||||
The notes to these accounts have 5 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 03-09-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank2025 annual accounts filed 34 days after the deadline. Filed on 3 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00497268.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 03-09-2026 | 2026-00497268 | |
| 31-12-2024 | micro format | 29-08-2025 | 2025-00473135 | |
| 31-12-2023 | micro format | 30-09-2024 | 2024-00481032 | |
| 31-12-2022 | micro format | 01-10-2023 | 2023-00471780 | |
| 31-12-2021 | micro format | 26-08-2022 | 2022-20383632 | |
| 31-12-2020 | micro format | 31-08-2021 | 2021-66000198 | |
| 31-12-2019 | micro format | 31-10-2020 | 2020-67100361 | |
| 31-12-2018 | micro format | 20-08-2019 | 2019-48500517 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| 78,612 | 53,341 | 52,217 | 71,235 | 30,693 | 7,364 | 10,795 | 27,173 | ||
| 71,711 | 49,615 | 50,727 | 55,614 | 29,909 | 7,134 | 10,597 | 26,886 | ||
| 0 | 0 | 156,980 | 44,700 | 35,850 | 19,940 | 10,293 | 45,570 | ||
| 39,065 | -20,017 | -99,761 | 159,461 | 4,130 | -2,994 | -1,655 | - | ||
| -1,557 | -45,649 | -68,235 | 66,807 | -32,207 | -26,266 | -13,460 | -13,764 | ||
| 28.4% | 18.7% | 17.0% | 18.7% | 18.5% | 5.3% | 16.5% | 16.7% | ||
| 0.99 | 0.71 | 0.65 | 1.45 | 0.61 | 0.35 | 0.60 | 0.58 | ||
| 0.99 | 0.71 | 0.62 | 1.45 | 0.61 | 0.35 | 0.60 | 0.58 | ||
| 2.52 | 4.34 | 4.87 | 4.35 | 4.41 | 17.76 | 5.08 | 4.98 | ||
| 25.5% | -21.4% | -4.2% | 65.3% | 88.0% | -193.4% | 1.4% | 25.1% | ||
| 7.2% | -4.0% | -0.7% | 12.2% | 16.3% | -10.3% | 0.2% | 4.2% | ||
| 53.79 | 24.16 | 21.88 | 25.37 | over 100 | - | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | €156,980 | €44,700 | €35,850 |
| €56,967 | €58,826 | €52,948 | €20,001 | €13,251 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Insights on MQB
The operating result for 2025 is a profit of €21,645, after a loss of €5,484 in 2024. It is the highest result since 2022.
Debt's share of the balance-sheet total falls from 81.3% to 71.6%. Equity is higher and debt is lower.