MTF Group
ActiveThe file of MTF Group contains 2 judicial reorganisation notices, as published in the Belgian State Gazette.
Summary
The computed 12-month bankruptcy probability is ≥ 25% (high). The 2024 annual accounts show negative equity (-€521,618) and a net result of -€999,385. Equity is shrinking by ~82.6% per year across the filed fiscal years. Its solvency ranks better than 9% of 1413 sector peers (fiscal year 2024).
Checked score
Score 2024
Axes · tick = 2023
Profitability0▼-57
Solvency0▼-43
Growth32▼-46
Track record54
Bankruptcy probability, 12 months
≥ 25%
High
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.21 against 0.1 in 2023; short-term debt: 55.1% and cash: 3.1% of total assets), and equity is negative.
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Signals
Six signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
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
-42.6%
Return on assets
-81.6%
Age of the figures
21 mo
raises risk · Negative equity
The 2024 annual accounts show negative equity and a net loss.
NBB · annual accounts 2024Equity per financial year
222324
2022 to 2024 · latest year -€521,618
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 18-06-2025, 43 days ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2025
not confirmed
2024
43 d early
2023
27 d early
2022
54 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 3 accounts on average 41 days before the deadline; the sector median for financial year 2024 is 6 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, abbreviated schema
Equity
-€521,618
2023 · €477,766
Total assets
€1.2m▼ 54.6%
2023 · €2.7m
Net result
-€999,385
2023 · €210,519
Working capital
-€532,788▲ 45.6%
2023 · -€980,031
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 73, Advertising, market research and public relations activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line202220232024
Operating result-€49,519-€51,182€126,718▲ 148%
Net result-€65,919below the sector's middle half-€210,519above the sector's middle half-€999,385below the sector's middle half
Equity€267,248within the sector's middle half-€477,766within the sector's middle half▲ 78.8%-€521,618below the sector's middle half
Total assets€1.1mwithin the sector's middle half-€2.7mabove the sector's middle half▲ 140%€1.2mwithin the sector's middle half▼ 54.6%
Debt€857,616-€2.2m▲ 158%€1.7m▼ 21.2%
Working capital-€565,253below the sector's middle half--€980,031below the sector's middle half▼ 73.4%-€532,788below the sector's middle half▲ 45.6%
Solvency23.8%within the sector's middle half-17.7%below the sector's middle half▼ 6.0pp-42.6%below the sector's middle half▼ 60.3pp
Current ratio0.07below the sector's middle half-0.10below the sector's middle half▲ 0.030.21below the sector's middle half▲ 0.11
Return on assets (ROA)-5.9%below the sector's middle half-7.8%within the sector's middle half▲ 13.7pp-81.6%below the sector's middle half▼ 89.4pp
Staff (FTE)0below the sector's middle half0below the sector's middle half
above
within
below
the middle half (P25 to P75) of NACE 73, Advertising, market research and public relations activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen two years in a row; 2024 is 148% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.2m
Fixed assets
€1.1m ▼ 58.1%
Current assets
€141,447 ▲ 27.0%
Key figures and ratios
Debt to equity
-3.35▼
2023 · 4.64
Debt ≤ 1 year
€674,235▼
2023 · €1.1m
Debt > 1 year
€1.0m▼
2023 · €1.1m
Staff costs
€97,323▲
2023 · €46,654
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|
| Remuneration, social security and pensions62 | €49,441 | €46,654 | €97,323 | ▲ 109% |
| Other operating charges640/8 | €62 | €127 | €1,030 | ▲ 711% |
| Gross operating margin9900 | -€16 | €97,963 | €225,070 | ▲ 130% |
| Operating profit (loss)9901 | -€49,519 | €51,182 | €126,718 | ▲ 148% |
| Financial income75/76B | - | €203,761 | €0 | ▼ 100.0% |
| Recurring financial income75 | - | €203,761 | €0 | ▼ 100.0% |
| Financial charges65/66B | €16,400 | €44,425 | €1.1m | ▲ 2,435% |
| Recurring financial charges65 | €16,400 | €44,425 | €71,103 | ▲ 60.1% |
| Non-recurring financial charges66B | - | - | €1.1m | - |
| Profit (loss) for the period before taxes9903 | -€65,919 | €210,519 | -€999,385 | ▼ 575% |
| Profit (loss) for the period9904 | -€65,919 | €210,519 | -€999,385 | ▼ 575% |
| Profit (loss) for the period to be appropriated9905 | -€65,919 | €210,519 | -€999,385 | ▼ 575% |
| Line | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €1.1m | €2.7m | €1.2m | ▼ 54.6% |
| Fixed assets21/28 | €1.1m | €2.6m | €1.1m | ▼ 58.1% |
| Financial fixed assets28 | €1.1m | €2.6m | €1.1m | ▼ 58.1% |
| Current assets29/58 | €41,696 | €111,398 | €141,447 | ▲ 27.0% |
| Amounts receivable within one year40/41 | €34,026 | €88,519 | €103,016 | ▲ 16.4% |
| Trade receivables40 | €23,900 | €83,523 | €1,288 | ▼ 98.5% |
| Other amounts receivable41 | €10,126 | €4,996 | €101,728 | ▲ 1,936% |
| Cash at bank and in hand54/58 | €7,670 | €22,704 | €38,235 | ▲ 68.4% |
| Deferred charges and accrued income490/1 | - | €175 | €196 | ▲ 11.7% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €1.1m | €2.7m | €1.2m | ▼ 54.6% |
| Equity10/15 | €267,248 | €477,766 | -€521,618 | ▼ 209% |
| Contributions10/11 | €333,167 | €333,167 | €333,167 | = |
| Reserves13 | - | €144,599 | €144,599 | = |
| Distributable reserves133 | - | €144,599 | €144,599 | = |
| Profit (loss) carried forward14 | -€65,919 | €0 | -€999,385 | - |
| Amounts payable17/49 | €857,616 | €2.2m | €1.7m | ▼ 21.2% |
| Amounts payable after more than one year17 | €250,667 | €1.1m | €1.0m | ▼ 6.0% |
| Financial debts170/4 | €250,667 | €1.1m | €1.0m | ▼ 6.0% |
| Amounts payable within one year42/48 | €606,949 | €1.1m | €674,235 | ▼ 38.2% |
| Current portion of amounts payable after more than one year42 | €32,000 | €116,963 | €119,731 | ▲ 2.4% |
| Financial debts43 | €455,000 | €700,000 | €210,000 | ▼ 70.0% |
| Credit institutions430/8 | €455,000 | €700,000 | €210,000 | ▼ 70.0% |
| Trade debts44 | €33,639 | €52,654 | €162,360 | ▲ 208% |
| Suppliers440/4 | €33,639 | €52,654 | €162,360 | ▲ 208% |
| Taxes, remuneration and social security45 | €6,180 | €11,996 | €14,232 | ▲ 18.6% |
| Taxes450/3 | - | €1,697 | €69 | ▼ 95.9% |
| Remuneration and social security454/9 | €6,180 | €10,299 | €14,163 | ▲ 37.5% |
| Other amounts payable47/48 | €80,131 | €209,816 | €167,912 | ▼ 20.0% |
| Accrued charges and deferred income492/3 | - | €8,948 | €22,593 | ▲ 153% |
| Line | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | -€65,919 | €210,519 | -€999,385 | ▼ 575% |
| Operating cash flow (approximation) | -€65,919 | €210,519 | -€999,385 | ▼ 575% |
| Investment in fixed assets (approximation) | - | -€1.5m | €1.5m | ▲ 200% |
| Change in cash | - | €15,033 | €15,532 | ▲ 3.3% |
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
22-06
State Gazette act
Merger · Accounting effect
2025
22-10
Judicial reorganisation
Plan homologation
Ondernemingsrechtbank Antwerpen · event 17-10-2025
18-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
15-05
Judicial reorganisation
Opening
Ondernemingsrechtbank Antwerpen · collective agreement · event 09-05-2025
2024
31-12
Financial
Weakest financial yearnet -€999,385
Net result drops to -€999,385, the lowest in the series.
04-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Back to profitnet €210,519
Net result €210,519 after one loss-making year.
07-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
SignalFinancial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Hasselt · 1 establishment unit since 2021
Ground area
5,788 m²
Building footprint
3,672 m²
Volume, LiDAR
18,398 m³
Parcel 71322A0248/00D000, Flanders · tallest building 6.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
MTF Group
since 20212.322.858.307
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71322A0248/00D000indicative | Flanders | 5,788 m² | 1 · 3,671 m² | 6.4 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
0 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
1 owner · 2 holdingsChain of control
- MANOFEX
- MTF Group
Highest known parent: MANOFEX. The sources do not say who stands above it.
Owners 1
- MANOFEXparent55%
Holdings 2
-
100%
- M.T.F. Metal Frame and Profile ExpertssubsidiarySourceown accounts 2024Equity €183,291Result -€106,843100%
According to the 2024 annual accounts of MTF Group and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Acquisitions and mergers
1 transactionTaken over by:MANOFEX
Public money · subsidies and aid
Flemish government
2023 · 1 entry · 1,800 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 0 EUR | 1,800 EUR |
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Of 13,417 companies in sector 73300 we hold annual accounts for 6,906. 4,227 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
Founded11-10-2021
Fiscal year end31-12
Activities, NACEBEL 2025
73300Public relations and communication consultancy
70200Business and other management consultancy
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0775599231
Registered
20-11-2025
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.