MTB TECHNICS
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 24-12-2025 PDF all 14 filings
Turnover
≈ €470,000
Estimated: probably between €310,000 and €730,000
Total assets
€433,238▼ 5.5%
2024 · €458,578
Net result
€35,937▼ 21.0%
2024 · €45,475
Working capital
€23,741▼ 24.5%
2024 · €31,445
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€57,922
▼ 20.2%
2025
20192025
Net result
€35,937
▼ 21.0%
2025
middle half of the sector
20192025
Equity
€112,460
▼ 2.1%
2025
middle half of the sector
20192025
Total assets
€433,238
▼ 5.5%
2025
highest quarter of the sector
20192025
Debt
€320,778
▼ 6.7%
2025
20192025
Working capital
€23,741
▼ 24.5%
2025
middle half of the sector
20192025
Solvency
26.0%
▲ 0.9pp
2025
middle half of the sector
20192025
Current ratio
1.18
▼ 0.08
2025
middle half of the sector
20192025
Return on assets (ROA)
8.3%
▼ 1.6pp
2025
middle half of the sector
20192025
Staff (FTE)
1
▼ 33.3%
2025
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€18,090-€25,450▲ 40.7%€35,058▲ 37.8%€19,136▼ 45.4%€37,979▲ 98.5%€72,584▲ 91.1%€57,922▼ 20.2%
Net result€3,999-€10,642within the sector's middle half▲ 166%€19,606within the sector's middle half▲ 84.2%€8,137within the sector's middle half▼ 58.5%€22,867within the sector's middle half▲ 181%€45,475above the sector's middle half▲ 98.9%€35,937within the sector's middle half▼ 21.0%
Equity€64,465-€64,795within the sector's middle half▲ 0.5%€54,072within the sector's middle half▼ 16.5%€55,550within the sector's middle half▲ 2.7%€73,431within the sector's middle half▲ 32.2%€114,908within the sector's middle half▲ 56.5%€112,460within the sector's middle half▼ 2.1%
Total assets€656,324-€674,218above the sector's middle half▲ 2.7%€609,586above the sector's middle half▼ 9.6%€500,424above the sector's middle half▼ 17.9%€529,651above the sector's middle half▲ 5.8%€458,578above the sector's middle half▼ 13.4%€433,238above the sector's middle half▼ 5.5%
Debt€591,859-€609,423▲ 3.0%€555,514▼ 8.8%€444,873▼ 19.9%€456,220▲ 2.6%€343,670▼ 24.7%€320,778▼ 6.7%
Working capital-€24,285--€17,797below the sector's middle half▲ 26.7%€3,317below the sector's middle half€42,688within the sector's middle half▲ 13×€6,977within the sector's middle half▼ 83.7%€31,445within the sector's middle half▲ 351%€23,741within the sector's middle half▼ 24.5%
Solvency9.8%-9.6%below the sector's middle half▼ 0.2pp8.9%below the sector's middle half▼ 0.7pp11.1%below the sector's middle half▲ 2.2pp13.9%below the sector's middle half▲ 2.8pp25.1%within the sector's middle half▲ 11.2pp26.0%within the sector's middle half▲ 0.9pp
Current ratio0.87-0.93below the sector's middle half▲ 0.051.01below the sector's middle half▲ 0.091.28within the sector's middle half▲ 0.271.04below the sector's middle half▼ 0.251.26within the sector's middle half▲ 0.221.18within the sector's middle half▼ 0.08
Return on assets (ROA)0.6%-1.6%within the sector's middle half▲ 1.0pp3.2%within the sector's middle half▲ 1.6pp1.6%below the sector's middle half▼ 1.6pp4.3%within the sector's middle half▲ 2.7pp9.9%within the sector's middle half▲ 5.6pp8.3%within the sector's middle half▼ 1.6pp
Staff (FTE)1.11.6▲ 45.5%2.4▲ 50.0%1.5▼ 37.5%1▼ 33.3%
above
within
below
The sector band is the middle half of the companies in Repair, maintenance and installation of machinery and equipment (NACE 33). 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 20% lower than in 2024.
Turnover and EBIT margin are not published. The 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 €433,238
Fixed assets
€274,963 ▼ 10.2%
Current assets
€158,275 ▲ 4.0%
Equity and liabilities €433,238
Equity
€112,460 ▼ 2.1%
Debt
€320,778 ▼ 6.7%
Debt's share of the balance-sheet total falls from 74.9% to 74.0%. Equity and debt are lower.
Key figures and ratios
EBITDA
€122,572▼
2024 · €138,054
Cash flow
€100,588▼
2024 · €110,944
Quick ratio
0.99▼
2024 · 1.10
Debt to equity
2.85▼
2024 · 2.99
ROE
32.0%▼
2024 · 39.6%
Interest coverage
23.10▲
2024 · 15.73
Debt ≤ 1 year
€134,534▲
2024 · €120,800
Debt > 1 year
€186,048▼
2024 · €222,871
Income taxes
€16,681▼
2024 · €21,107
Staff costs
€61,417▲
2024 · €55,946
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 2 | 2 | 2 | - |
| full-time | 2 | 2 | 2 | - |
| in full-time equivalents | 2 | 2 | 2 | - |
| Average over the year, in full-time equivalents | 1.6 | 2.4 | 1.5 | 1 |
| On a permanent contract | 1 | 1 | 1 | - |
| Joined | 1 | 2 | 1 | 5 |
| Left | 1 | 2 | 1 | 6 |
Source: social balance sheet in the 2022 to 2025 annual accounts
Securities and guarantees
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Mortgages, amount registered | €590,000 | €590,000 | €590,000 | €590,000 |
| Carrying value of the mortgaged assets | €260,650 | €245,738 | €213,390 | €181,042 |
Source: notes to the 2022 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €3,802 | €88,042 | €46,419 | €33,280 |
| Depreciation and write-downs of the year | €76,095 | €69,943 | €65,470 | €64,650 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | €26,715 | - | - |
| Remuneration, social security and pensions62 | - | - | - | €49,219 | €56,374 | €55,946 | €61,417 | ▲ 9.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €83,803 | €82,889 | €78,396 | €76,095 | €69,943 | €65,470 | €64,650 | ▼ 1.3% |
| Other operating charges640/8 | - | - | - | €10,126 | €3,612 | €4,618 | €3,966 | ▼ 14.1% |
| Gross operating margin9900 | €105,968 | €111,691 | €153,730 | €154,577 | €167,908 | €198,618 | €187,955 | ▼ 5.4% |
| Operating profit (loss)9901 | €18,090 | €25,450 | €35,058 | €19,136 | €37,979 | €72,584 | €57,922 | ▼ 20.2% |
| Financial income75/76B | - | - | - | €12 | €54 | €2,771 | €4 | ▼ 99.9% |
| Recurring financial income75 | €69 | €2 | €14 | €12 | €54 | €2,771 | €4 | ▼ 99.9% |
| Financial charges65/66B | - | - | - | €7,541 | €6,860 | €8,774 | €5,307 | ▼ 39.5% |
| Recurring financial charges65 | €12,679 | €11,525 | €8,260 | €7,541 | €6,860 | €8,774 | €5,307 | ▼ 39.5% |
| Profit (loss) for the period before taxes9903 | €5,480 | €13,928 | €26,813 | €11,607 | €31,173 | €66,581 | €52,619 | ▼ 21.0% |
| Income taxes67/77 | €1,482 | €3,286 | €7,207 | €3,470 | €8,305 | €21,107 | €16,681 | ▼ 21.0% |
| Profit (loss) for the period9904 | €3,999 | €10,642 | €19,606 | €8,137 | €22,867 | €45,475 | €35,937 | ▼ 21.0% |
| Profit (loss) for the period to be appropriated9905 | €3,999 | €10,642 | €19,606 | €8,137 | €22,867 | €45,475 | €35,937 | ▼ 21.0% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €656,324 | €674,218 | €609,586 | €500,424 | €529,651 | €458,578 | €433,238 | ▼ 5.5% |
| Fixed assets21/28 | €488,099 | €446,086 | €379,578 | €307,285 | €325,384 | €306,333 | €274,963 | ▼ 10.2% |
| Intangible fixed assets21 | €10,500 | €3,500 | - | - | - | - | - | - |
| Tangible fixed assets22/27 | €477,364 | €442,351 | €379,343 | €307,050 | €325,149 | €306,099 | €274,729 | ▼ 10.2% |
| Land and buildings22 | - | - | - | €260,650 | €245,738 | €213,390 | €181,042 | ▼ 15.2% |
| Plant, machinery and equipment23 | - | - | - | €31,241 | €75,032 | €52,131 | €63,753 | ▲ 22.3% |
| Furniture and vehicles24 | - | - | - | €15,159 | €4,379 | €40,578 | €29,934 | ▼ 26.2% |
| Financial fixed assets28 | €235 | €235 | €235 | €235 | €235 | €235 | €235 | = |
| Current assets29/58 | €168,225 | €228,132 | €230,008 | €193,139 | €204,267 | €152,244 | €158,275 | ▲ 4.0% |
| Stocks and contracts in progress3 | €4,405 | €56,842 | €23,142 | €36,610 | €39,114 | €18,910 | €24,702 | ▲ 30.6% |
| Stocks30/36 | - | - | - | €10,610 | €15,525 | €12,546 | €11,611 | ▼ 7.5% |
| Contracts in progress37 | - | - | - | €26,000 | €23,589 | €6,364 | €13,091 | ▲ 106% |
| Amounts receivable within one year40/41 | €99,238 | €125,365 | €107,880 | €83,853 | €148,640 | €77,296 | €98,416 | ▲ 27.3% |
| Trade receivables40 | - | - | - | €78,315 | €146,313 | €77,177 | €96,337 | ▲ 24.8% |
| Other amounts receivable41 | - | - | - | €5,538 | €2,327 | €119 | €2,079 | ▲ 17× |
| Cash at bank and in hand54/58 | €58,023 | €20,499 | €92,057 | €69,598 | €13,037 | €55,974 | €33,505 | ▼ 40.1% |
| Deferred charges and accrued income490/1 | - | - | - | €3,078 | €3,476 | €64 | €1,652 | ▲ 26× |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €656,324 | €674,218 | €609,586 | €500,424 | €529,651 | €458,578 | €433,238 | ▼ 5.5% |
| Equity10/15 | €64,465 | €64,795 | €54,072 | €55,550 | €73,431 | €114,908 | €112,460 | ▼ 2.1% |
| Contributions10/11 | €6,200 | - | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €58,144 | €58,474 | €47,751 | €49,230 | €67,111 | €108,587 | €106,140 | ▼ 2.3% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | - | - | - | - |
| Distributable reserves133 | - | - | - | €47,370 | €67,111 | €108,587 | €106,140 | ▼ 2.3% |
| Profit (loss) carried forward14 | €121 | €121 | €121 | €121 | €121 | €121 | €121 | = |
| Amounts payable17/49 | €591,859 | €609,423 | €555,514 | €444,873 | €456,220 | €343,670 | €320,778 | ▼ 6.7% |
| Amounts payable after more than one year17 | €399,349 | €363,493 | €328,823 | €294,241 | €258,929 | €222,871 | €186,048 | ▼ 16.5% |
| Financial debts170/4 | - | - | - | €294,241 | €258,929 | €222,871 | €186,048 | ▼ 16.5% |
| Amounts payable within one year42/48 | €192,510 | €245,929 | €226,692 | €150,451 | €197,290 | €120,800 | €134,534 | ▲ 11.4% |
| Current portion of amounts payable after more than one year42 | - | - | - | €34,581 | €35,340 | €36,059 | €38,603 | ▲ 7.1% |
| Trade debts44 | €100,443 | €158,674 | €115,990 | €80,573 | €111,723 | €25,595 | €22,927 | ▼ 10.4% |
| Suppliers440/4 | - | - | - | €80,573 | €111,723 | €25,595 | €22,927 | ▼ 10.4% |
| Taxes, remuneration and social security45 | - | - | - | €11,675 | €26,856 | €34,782 | €21,762 | ▼ 37.4% |
| Taxes450/3 | - | - | - | €9,092 | €22,980 | €30,307 | €18,123 | ▼ 40.2% |
| Remuneration and social security454/9 | - | - | - | €2,583 | €3,876 | €4,475 | €3,639 | ▼ 18.7% |
| Other amounts payable47/48 | - | - | - | €23,622 | €23,372 | €24,364 | €51,241 | ▲ 110% |
| Accrued charges and deferred income492/3 | - | - | - | €181 | - | - | €196 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,999 | €10,642 | €19,606 | €8,137 | €22,867 | €45,475 | €35,937 | ▼ 21.0% |
| + Depreciation and write-downs630 | €83,803 | €82,889 | €78,396 | €76,095 | €69,943 | €65,470 | €64,650 | ▼ 1.3% |
| Operating cash flow (approximation) | €87,802 | €93,531 | €98,002 | €84,232 | €92,810 | €110,944 | €100,588 | ▼ 9.3% |
| Investment in fixed assets (approximation) | - | -€40,876 | -€11,888 | -€3,802 | -€88,042 | -€46,419 | -€33,280 | ▲ 28.3% |
| Change in cash | - | -€37,524 | €71,558 | -€22,458 | -€56,561 | €42,937 | -€22,469 | - |
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, 5,053 companies had the same profile as MTB TECHNICS has now. Two years later, 95.9% were still going and 1.6% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
95.9%
was still going
2.4%
stopped otherwise
1.6%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of MTB TECHNICS itself: 0.3% 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 5,053 companies, not a prediction for MTB TECHNICS. 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 14 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 24-12-2025 | 2025-00589691 | |
| 30-06-2024 | micro format | 30-01-2025 | 2025-00028221 | |
| 30-06-2023 | micro format | 29-01-2024 | 2024-00020208 | |
| 30-06-2022 | micro format | 03-01-2023 | 2023-20551272 | |
| 30-06-2021 | micro format | 24-12-2021 | 2021-81500287 | |
| 30-06-2020 | micro format | 04-01-2021 | 2021-00100109 | |
| 30-06-2019 | micro format | 06-01-2020 | 2020-00200018 | |
| 30-06-2018 | micro format | 21-12-2018 | 2018-75100281 | |
| 30-06-2017 | micro format | 31-01-2018 | 2018-03100108 | |
| 30-06-2016 | abbreviated format | 12-12-2016 | 2016-69600441 |