Equity
€116,500 ▲ 5.7%
MTECH has made a profit in every financial year since 2018.
MTECH
Lifetime
8 annual accounts with figures on one time axispeak €54,720 (2024)
€23,383▼ 57.3%
peak €32,724 (2024)
€6,247▼ 80.9%
peak €116,500 (2025)
€116,500▲ 5.7%
€33,410▼ 5.9%
Board1 name since 2017
1 directorVETS Merlijn
Documentsfilings and deeds
23-07-20268 days before the deadline
2025micro format
Gross margin from €54,720 to €23,383Result from €32,724 to €6,247Investments €25,323Cash from €998 to €2,509
Key points
from the 2025 annual accountsTurnover
≈ €190,000 estimated
The micro format states no turnover.
Investments
€41,751 6.3 × depreciation
Green is investment, beige is depreciation.
Liquidity
6.74 was 3.99 in 2024
Short-term debts fell from €33,156 to €17,444.
Filings
8 annual accounts 4 late
The 2020 accounts came latest: 30 days after the end of the period.
Position in the sector
77.7%
Higher solvency than 83% of companies in specialised construction. Sector median 46.7% · 35,156 companies.
Checked score
69
Healthy
Financially stronger than 58% of micro companies in specialised construction (NACE 43)
Probability in this band: 0.55% to 1.5%
Bankruptcy probability within 12 months
0.8% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.7% across 47,696 companies (NACE 43, micro).
About 8 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.9%
01-2025: 0.9%● unchanged vs 12-2024
02-2025: 0.9%● unchanged vs 01-2025
03-2025: 0.9%● unchanged vs 02-2025
04-2025: 1.0%▲ +0.1 percentage points vs 03-2025
05-2025: 1.1%▲ +0.1 percentage points vs 04-2025
06-2025: 1.0%▼ -0.1 percentage points vs 05-2025
07-2025: 1.2%▲ +0.2 percentage points vs 06-2025highest value
08-2025: 1.1%▼ -0.1 percentage points vs 07-2025
09-2025: 1.0%▼ -0.1 percentage points vs 08-2025
10-2025: 1.0%● unchanged vs 09-2025
11-2025: 1.0%● unchanged vs 10-2025
12-2025: 1.0%● unchanged vs 11-2025
01-2026: 1.0%● unchanged vs 12-2025
02-2026: 0.9%▼ -0.1 percentage points vs 01-2026
03-2026: 0.9%● unchanged vs 02-2026
04-2026: 1.0%▲ +0.1 percentage points vs 03-2026
05-2026: 0.9%▼ -0.1 percentage points vs 04-2026
06-2026: 0.9%● unchanged vs 05-2026
07-2026: 0.9%● unchanged vs 06-2026
08-2026: 0.8%▼ -0.1 percentage points vs 07-2026lowest value
09-2026: 0.8%● unchanged vs 08-2026lowest value
10-2026: 0.8%● unchanged vs 09-2026lowest value
11-2026: 0.8%● unchanged vs 10-2026lowest value
Financial strengthStrong
Score breakdown
raises risk
Size: total assets €149,910
Sector: Specialised construction activities (NACE 43)
Liquidity: current ratio 6.74, cash €2,509
lowers risk
Figures for financial year 2025 (filed on 23-07-2026)
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 43, micro). It does better than 90% of them on solvency, 45% on liquidity, 46% on profitability and 48% on growth.
The bankruptcy probability was computed on 10-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 5,047 companies had the same profile as MTECH has now. Each dot stands for 13 companies, two years later.
94.0%
were still trading
3.8%
stopped another way
2.2%
went bankrupt
That fits the bankruptcy probability of MTECH itself: 0.8% within 12 months.
Test of the method
The method was tested on the 497,448 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 5,047 companies, not a prediction for MTECH. 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.
Credit verdict
Credit of up to €8,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 6.74 (3.99 in 2024), above the usual 1.5. Short-term debt is 11.6% and cash 1.7% of total assets. 22.3% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
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 23-07-2026, 8 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
8 days early
2024
13 days early
2023
11 days early
2022
18 days late
2021
22 days late
2020
30 days late
2019
17 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 8 days after the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 23 July (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
11-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- VETS Merlijn founderdeed of 20-12-2017
- LEEMANS Diane Filomena Willy founderdeed of 20-12-2017
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0686560060
Registered office moved from Huishout to Herselt
New registered office: Limberg 122, 2230 Herselt · Previous registered office: Hoogzand 2 bus 2/3, 2235 Huishout, België · General meeting of 27-07-2018 · Gazette deed
Incorporation
Founders: VETS Merlijn and LEEMANS Diane Filomena Willy · Founding capital of €18,550, 186 shares, €6,200.33 paid up · Appointment: VETS Merlijn (statutory manager) · published on 20-12-2017 · Gazette deed
First establishment
Limberg 122, Herselt
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| MTECH Herselt | €149,910 | €23,383 | 77.7% | - |
| JAVERCO Hoogstraten | €154,300 | €22,210 | 28.9% | - |
| D&K Projects Ranst | €129,179 | €25,665 | 95.4% | - |
| DM ELECTRO FLASH Harelbeke | €150,953 | €23,995 | 64.8% | - |
| E-ELEC Asse | €136,185 | €22,115 | 75.5% | - |
| T-LEKTRO Kortrijk | €143,388 | €24,723 | 37.9% | - |
| ELECTRO ASEK Heusden-Zolder | €138,200 | €26,846 | 63.3% | - |
These companies have the same main activity as MTECH: general electrical installation work (NACE 43211). They are comparable in size and age: total assets between €129,000 and €154,000, founded between 2017 and 2018.
Official details
Source: KBO- Status
- Active since 18-12-2017Normal situation
- Activity
- General electrical installation workNACE 43211
- Establishment unit
- 2.271.881.4412230 Herselt, since 18-12-2017
- Financial year end
- 31 December
- Peppol
- Reachable since 15-12-2025
Annual accounts 2025
- €149,910▲ 2.9%
- Filing
- Filed on 23-07-2026, 8 days before the end of the filing period
Insights on MTECH
MTECH files the micro format. That format states no turnover. The gross margin rose from €15,454 in 2018 to €23,383 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about MTECH
- What is the company number of MTECH?
- The company number of MTECH is 0686.560.060. The VAT number is the same number with BE in front: BE 0686.560.060.
- Where is MTECH based?
- The registered office is at Limberg 122, 2230 Herselt.Company details
- What does MTECH do?
- According to the KBO register, the main activity is general electrical installation work (NACE 43211).
- What is the legal form of MTECH?
- MTECH is a private limited company (pre-2019) (BVBA).
- When was MTECH founded?
- MTECH was founded on 18-12-2017.
- Is MTECH still active?
- Yes, MTECH is an active enterprise in the KBO register.
- What is the turnover of MTECH?
- The turnover in financial year 2025 is ≈ €190,000. This figure is estimated from the gross margin of €23,383 and 97 comparable companies (NACE 43211). It probably lies between €130,000 and €410,000. It is a rough estimate.Financials
- Is MTECH profitable?
- In financial year 2025, MTECH made a profit of €6,247.
- Where can I find the annual accounts of MTECH?
- MTECH filed 8 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of MTECH due?
- MTECH must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can trust this company with building work.Contractor check Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Check which of your other customers you can e-invoice via Peppol.Peppol check See which support similar companies received that this one did not.Subsidies
See how customers, suppliers and banks see your own company and what to improve first.