MT Project
ActiveFinancials · financial year 2026, micro format
Annual accounts 2026 filed on 10-09-2026 at the NBB all 3 filings
Every figure per financial year
The operating result for 2026 is 12% lower than in 2025 and the lowest since 2024. It is the second fall in a row.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Overdue debts
| Item | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|
| Overdue tax debts | - | - | €309 |
Source: notes to the 2024 to 2026 annual accounts (statement of debts)
Investments
| Item | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|
| Tangible fixed assets | €5,909 | €13,354 | €749 |
| Depreciation and write-downs of the year | €1,514 | €602 | €3,367 |
Source: notes to the 2024 to 2026 annual accounts (statement of fixed assets)
| Line | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|
| Non-recurring operating income76A | €2,548 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,514 | €602 | €3,367 | ▲ 459% |
| Other operating charges640/8 | €8,374 | €8,541 | €8,115 | ▼ 5.0% |
| Gross operating margin9900 | €39,666 | €26,411 | €26,698 | ▲ 1.1% |
| Operating profit (loss)9901 | €29,778 | €17,268 | €15,215 | ▼ 11.9% |
| Financial charges65/66B | €771 | €1,533 | €1,549 | ▲ 1.0% |
| Recurring financial charges65 | €771 | €1,533 | €1,549 | ▲ 1.0% |
| Profit (loss) for the period before taxes9903 | €29,007 | €15,735 | €13,666 | ▼ 13.1% |
| Income taxes67/77 | €7,920 | €5,283 | €5,025 | ▼ 4.9% |
| Profit (loss) for the period9904 | €21,087 | €10,452 | €8,642 | ▼ 17.3% |
| Profit (loss) for the period to be appropriated9905 | €21,087 | €10,452 | €8,642 | ▼ 17.3% |
| Line | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €79,541 | €73,821 | €38,514 | ▼ 47.8% |
| Fixed assets21/28 | €187 | €12,939 | €6,585 | ▼ 49.1% |
| Tangible fixed assets22/27 | €187 | €12,939 | €6,585 | ▼ 49.1% |
| Plant, machinery and equipment23 | €187 | €915 | €1,124 | ▲ 22.8% |
| Furniture and vehicles24 | - | €12,024 | €5,461 | ▼ 54.6% |
| Current assets29/58 | €79,354 | €60,882 | €31,929 | ▼ 47.6% |
| Stocks and contracts in progress3 | - | - | €3,500 | - |
| Stocks30/36 | - | - | €3,500 | - |
| Amounts receivable within one year40/41 | €74,434 | €30,436 | €15,146 | ▼ 50.2% |
| Trade receivables40 | €28,782 | €19,771 | €9,895 | ▼ 50.0% |
| Other amounts receivable41 | €45,652 | €10,665 | €5,251 | ▼ 50.8% |
| Cash at bank and in hand54/58 | €4,604 | €30,130 | €12,306 | ▼ 59.2% |
| Deferred charges and accrued income490/1 | €316 | €316 | €977 | ▲ 209% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €79,541 | €73,821 | €38,514 | ▼ 47.8% |
| Equity10/15 | €36,791 | €12,742 | €21,383 | ▲ 67.8% |
| Contributions10/11 | €500 | €500 | €500 | = |
| Profit (loss) carried forward14 | €36,291 | €12,242 | €20,883 | ▲ 70.6% |
| Amounts payable17/49 | €42,750 | €61,079 | €17,131 | ▼ 72.0% |
| Amounts payable within one year42/48 | €42,750 | €61,079 | €17,131 | ▼ 72.0% |
| Trade debts44 | €28,130 | €42,702 | €9,844 | ▼ 76.9% |
| Suppliers440/4 | €28,130 | €42,702 | €9,844 | ▼ 76.9% |
| Taxes, remuneration and social security45 | €14,620 | €18,377 | €7,288 | ▼ 60.3% |
| Taxes450/3 | €7,920 | €14,977 | €5,320 | ▼ 64.5% |
| Remuneration and social security454/9 | €6,700 | €3,400 | €1,968 | ▼ 42.1% |
| Line | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €21,087 | €10,452 | €8,642 | ▼ 17.3% |
| + Depreciation and write-downs630 | €1,514 | €602 | €3,367 | ▲ 459% |
| Operating cash flow (approximation) | €22,601 | €11,054 | €12,009 | ▲ 8.6% |
| Investment in fixed assets (approximation) | - | -€13,354 | €2,987 | - |
| Change in cash | - | €25,526 | -€17,824 | - |
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, 26,972 companies had the same profile as MT Project has now. Two years later, 94.9% were still going and 1.6% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of MT Project itself: 0.5% 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 26,972 companies, not a prediction for MT Project. 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.