MTELECOM
ActiveSummary
The annual accounts of MTELECOM for fiscal year 2024 show a net loss of 63% of the equity at the start of that year. The 2024 annual accounts show equity of €46k and a net result of €-79k. Equity is growing by ~7% per year across the filed fiscal years. Its solvency ranks better than 13% of 20780 sector peers (fiscal year 2024). The company has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2024
59
/ 100
Fair
A net loss of at least half of total assets or of the equity at the start of the financial year caps the score. A confirmed filing finding caps the score. Each of these causes sets the same score on its own. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability67▲+8
Solvency36▼-14
Growth32▼-20
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1k at 30 days only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity ample (current ratio 2.42 against 3.45 in 2023; short-term debt: 17.7% and cash: 8.8% of total assets), but 88.9% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 62
Relative position
BE, all sectors
reference
Computer programming, consultancy and related activities (NACE 62)
about 64% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
11.1%
Return on assets
-19.1%
Age of the figures
21 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2024Net result per financial year
18192021222324
2018 to 2024 · latest year €-79k
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 13% of 20780 sector peers (2024).
NBB · sector comparisonPosition among 20780 sector peers
Solvency
better than 13%
← weakest
strongest →
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 01-01-2026, 154 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
154 d late
2023
519 d late
2022
885 d late
2021
1250 d late
2020
139 d late
2019
122 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Turnover
€13k
EBIT margin
-366.7%
Net result
€-79k▼ 109%
2023 · €-38k
2018: €-15k
2019: €179▲ +101% vs 2018
2020: €10k▲ +5485% vs 2019
2021: €81k▲ +714% vs 2020highest in 7 years
2022: €1k▼ -98.5% vs 2021
2023: €-38k▼ -3178% vs 2022
2024: €-79k▼ -109% vs 2023lowest in 7 years
2018 → 2024
Working capital
€104k▼ 31.0%
2023 · €151k
2018: €46klowest in 7 years
2019: €62k▲ +34.1% vs 2018
2020: €83k▲ +34.4% vs 2019
2021: €197k▲ +139% vs 2020highest in 7 years
2022: €150k▼ -24.1% vs 2021
2023: €151k▲ +1.2% vs 2022
2024: €104k▼ -31.0% vs 2023
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Turnover€13k
Equity€80k-€161k▲ 102%€163k▲ 0.8%€125k▼ 23.2%€46k▼ 63.3%
2020: €80k
2021: €161k▲ +102% vs 2020
2022: €163k▲ +0.8% vs 2021highest in 5 years
2023: €125k▼ -23.2% vs 2022
2024: €46k▼ -63.3% vs 2023lowest in 5 years
Operating result€13k-€87k▲ 548%€33k▼ 62.4%€-37k€-47k▼ 27.3%
2020: €13k
2021: €87k▲ +548% vs 2020highest in 5 years
2022: €33k▼ -62.4% vs 2021
2023: €-37k▼ -214% vs 2022
2024: €-47k▼ -27.3% vs 2023lowest in 5 years
Net result€10k-€81k▲ 714%€1k▼ 98.5%€-38k€-79k▼ 109%
2020: €10k
2021: €81k▲ +714% vs 2020highest in 5 years
2022: €1k▼ -98.5% vs 2021
2023: €-38k▼ -3178% vs 2022
2024: €-79k▼ -109% vs 2023lowest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €47k in 2024 against €37k in 2023; the loss grows and 2024 has the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €413k
Fixed assets
€236k ▼ 18.3%
Current assets
€178k ▼ 16.6%
Equity and liabilities €413k
Equity
€46k ▼ 63.3%
Debt
€368k ▼ 2.4%
Debt's share of the balance-sheet total rises from 75.1% to 88.9%. Equity and debt are lower.
Key figures and ratios
EBITDA
€14k▼
2023 · €24k
Cash flow
€-18k▼
2023 · €24k
Current ratio
2.42▼
2023 · 3.45
Debt to equity
8.03▲
2023 · 3.02
ROE
-172.5%▼
2023 · -30.3%
ROA
-19.1%▼
2023 · -7.5%
Interest coverage
17.92▼
2023 · 32.69
Debt ≤ 1 year
€73k▲
2023 · €62k
Debt > 1 year
€274k▼
2023 · €315k
Income taxes
€31k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 46 lines
Balance sheet
Code20232024
Assets
Total assets20/58€501k€413k▼
Fixed assets21/28€288k€236k▼
Tangible fixed assets22/27€288k€227k▼
Land and buildings22€268k€218k▼
Furniture and vehicles24€11k€3k▼
Other tangible fixed assets26€8k€5k▼
Financial fixed assets28€699€9k▲
Current assets29/58€213k€178k▼
Amounts receivable within one year40/41€101k€142k▲
Trade receivables40€42k€44k▲
Other amounts receivable41€59k€98k▲
Cash at bank and in hand54/58€91k€36k▼
Deferred charges and accrued income490/1€21k-
Equity and liabilities
Total equity and liabilities10/49€501k€413k▼
Equity10/15€125k€46k▼
Contributions10/11€6k€6k=
Reserves13€2k€2k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Profit (loss) carried forward14€117k€38k▼
Amounts payable17/49€377k€368k▼
Amounts payable after more than one year17€315k€274k▼
Financial debts170/4€315k€274k▼
Amounts payable within one year42/48€62k€73k▲
Current portion of amounts payable after more than one year42€840€3k▲
Trade debts44€29k€23k▼
Suppliers440/4€29k€23k▼
Taxes, remuneration and social security45€31k€23k▼
Taxes450/3€31k€23k▼
Other amounts payable47/48-€24k
Accrued charges and deferred income492/3-€20k
Income statement
Code20232024
Turnover70-€13k
Non-recurring operating income76A-€29k
Goods, raw materials, services and sundry goods60/61-€28k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€61k€61k▼
Other operating charges640/8-€63
Gross operating margin9900€24k€14k▼
Operating profit (loss)9901€-37k€-47k▼
Financial charges65/66B€744€766▲
Recurring financial charges65€744€766▲
Profit (loss) for the period before taxes9903€-38k€-48k▼
Income taxes67/77-€31k
Profit (loss) for the period9904€-38k€-79k▼
Profit (loss) for the period to be appropriated9905€-38k€-79k▼
Appropriation of the result
Profit (loss) to be appropriated9906€117k€38k▼
Profit (loss) brought forward from the previous period14P€154k€117k▼
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | - | €13k | - |
| Non-recurring operating income76A | - | - | - | - | €29k | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | - | €28k | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €29k | €29k | €55k | €61k | €61k | ▼ 0.8% |
| Other operating charges640/8 | - | €1k | €3k | - | €63 | - |
| Gross operating margin9900 | €43k | €117k | €91k | €24k | €14k | ▼ 43.3% |
| Operating profit (loss)9901 | €13k | €87k | €33k | €-37k | €-47k | ▼ 27.3% |
| Financial charges65/66B | - | €5k | €25k | €744 | €766 | ▲ 3.0% |
| Recurring financial charges65 | €3k | €5k | €25k | €744 | €766 | ▲ 3.0% |
| Profit (loss) for the period before taxes9903 | €10k | €81k | €8k | €-38k | €-48k | ▼ 26.8% |
| Income taxes67/77 | - | - | €7k | - | €31k | - |
| Profit (loss) for the period9904 | €10k | €81k | €1k | €-38k | €-79k | ▼ 109% |
| Profit (loss) for the period to be appropriated9905 | €10k | €81k | €1k | €-38k | €-79k | ▼ 109% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €324k | €385k | €569k | €501k | €413k | ▼ 17.5% |
| Fixed assets21/28 | €161k | €132k | €348k | €288k | €236k | ▼ 18.3% |
| Tangible fixed assets22/27 | €160k | €131k | €347k | €288k | €227k | ▼ 21.2% |
| Land and buildings22 | - | €116k | €318k | €268k | €218k | ▼ 18.6% |
| Furniture and vehicles24 | - | €992 | €18k | €11k | €3k | ▼ 71.4% |
| Other tangible fixed assets26 | - | €14k | €11k | €8k | €5k | ▼ 36.4% |
| Financial fixed assets28 | €1k | €1k | €699 | €699 | €9k | ▲ 1,171% |
| Current assets29/58 | €163k | €253k | €221k | €213k | €178k | ▼ 16.6% |
| Amounts receivable within one year40/41 | €92k | €75k | €106k | €101k | €142k | ▲ 39.9% |
| Trade receivables40 | - | €61k | €64k | €42k | €44k | ▲ 4.7% |
| Other amounts receivable41 | - | €14k | €42k | €59k | €98k | ▲ 65.1% |
| Cash at bank and in hand54/58 | €59k | €152k | €115k | €91k | €36k | ▼ 60.2% |
| Deferred charges and accrued income490/1 | - | €26k | - | €21k | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €324k | €385k | €569k | €501k | €413k | ▼ 17.5% |
| Equity10/15 | €80k | €161k | €163k | €125k | €46k | ▼ 63.3% |
| Contributions10/11 | - | €6k | €6k | €6k | €6k | = |
| Reserves13 | €2k | €2k | €2k | €2k | €2k | = |
| Non-distributable reserves130/1 | - | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | - | €2k | €2k | €2k | €2k | = |
| Profit (loss) carried forward14 | €72k | €153k | €154k | €117k | €38k | ▼ 67.7% |
| Amounts payable17/49 | €244k | €224k | €406k | €377k | €368k | ▼ 2.4% |
| Amounts payable after more than one year17 | €159k | €146k | €315k | €315k | €274k | ▼ 13.0% |
| Financial debts170/4 | - | €146k | €315k | €315k | €274k | ▼ 13.0% |
| Amounts payable within one year42/48 | €80k | €56k | €71k | €62k | €73k | ▲ 18.9% |
| Current portion of amounts payable after more than one year42 | - | €15k | €27k | €840 | €3k | ▲ 257% |
| Trade debts44 | €39k | €20k | €30k | €29k | €23k | ▼ 20.4% |
| Suppliers440/4 | - | €20k | €30k | €29k | €23k | ▼ 20.4% |
| Taxes, remuneration and social security45 | - | €21k | €14k | €31k | €23k | ▼ 25.6% |
| Taxes450/3 | - | €21k | €14k | €31k | €23k | ▼ 25.6% |
| Other amounts payable47/48 | - | - | - | - | €24k | - |
| Accrued charges and deferred income492/3 | - | €21k | €20k | - | €20k | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €10k | €81k | €1k | €-38k | €-79k | ▼ 109% |
| + Depreciation and write-downs630 | €29k | €29k | €55k | €61k | €61k | ▼ 0.8% |
| Operating cash flow (approximation) | €39k | €110k | €57k | €24k | €-18k | ▼ 177% |
| Investment in fixed assets (approximation) | - | €0 | €-271k | €-2k | €-8k | ▼ 385% |
| Change in cash | - | €93k | €-37k | €-24k | €-55k | ▼ 127% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2026
01-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 154 days late
01-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 519 days late
01-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 885 days late
01-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 1250 days late
2024
31-12
Financial
Weakest financial yearnet €-79k
Net result drops to €-79k, the lowest in the series.
2021
31-12
Financial
Highest result since 2018net €81k ▲714%
Operating result €87k, net result €81k, both a record.
31-12
Financial
Liquidity doublescurrent ratio 4.51
Current ratio from 2.03 to 4.51; short-term debt falls from €80k to €56k.
31-12
Financial
Equity above €150kEq €161k ▲102%
3 profitable years in a row build equity to €161k.
17-12
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 139 days late
2020
30-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 122 days late
2019
31-12
Financial
Back to profitnet €179
Net result €179 after one loss-making year.
31-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 92 days late
Show earlier events
2018
26-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 57 days late
2017
08-11
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 100 days late
2016
07-10
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 68 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 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, Etterbeek · 1 establishment unit since 2007
Ground area
3,170 m²
Building footprint
2,221 m²
Volume, LiDAR
21,757 m³
Parcel 21363B0348/00A002, Brussels · tallest building 12.0 m, ±3 floors. Linked by address, not a title deed.
93
companies at this address
See who is registered here
1 establishment unit
MTelecom - MShop - MSecurity - MHosting
since 20072.162.331.720
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21363B0348/00A002 | Brussels | 3,170 m² | 1 · 2,221 m² | 12.0 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 29,993 companies in sector 62200 we hold annual accounts for 18,396. 15,214 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded30-03-2007
Fiscal year end31-12
Activities, NACEBEL 2025
62200Computer consultancy and computer facilities management
43214Specialised construction activities
62900Other information technology and computer services
62100Computer programming
63100Computing infrastructure, data processing, hosting and related activities
Scores and ratios are computed by Checked and are not a credit decision.