MTH Advisory
ActiveSummary
MTH Advisory has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €212k and a net result of €105k. Equity is growing by ~22.5% per year across the filed fiscal years. Its solvency ranks better than 60% of 7780 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+4
Solvency87▼-13
Growth52=
Track record94
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €17k at 30 days acceptable
Liquidity ample (current ratio 2.62 against 5.81 in 2024; short-term debt: 37.6% and cash: 93.4% of total assets), and 37.6% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+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
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 82
Relative position
BE, all sectors
reference
Office administrative, office support and other business support activities (NACE 82)
about 37% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
62.4%
Return on assets
30.9%
Age of the figures
9 mo
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 23-03-2026, 130 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
130 d early
2024
120 d early
2023
28 d early
2022
88 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€212k▼ 25.2%
2024 · €283k
2022: €140klowest in 4 years
2023: €212k▲ +50.9% vs 2022
2024: €283k▲ +33.7% vs 2023highest in 4 years
2025: €212k▼ -25.2% vs 2024
2022 → 2025
Total assets
€340k▼ 0.3%
2024 · €341k
2022: €234klowest in 4 years
2023: €261k▲ +11.3% vs 2022
2024: €341k▲ +30.7% vs 2023highest in 4 years
2025: €340k▼ -0.3% vs 2024
2022 → 2025
Net result
€105k▲ 43.4%
2024 · €73k
2022: €155khighest in 4 years
2023: €73k▼ -52.7% vs 2022lowest in 4 years
2024: €73k● +0.0% vs 2023
2025: €105k▲ +43.4% vs 2024
2022 → 2025
Working capital
€207k▼ 24.7%
2024 · €275k
2022: €126klowest in 4 years
2023: €205k▲ +62.6% vs 2022
2024: €275k▲ +34.3% vs 2023highest in 4 years
2025: €207k▼ -24.7% vs 2024
2022 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2022202320242025Trend
Equity€140k-€212k▲ 50.9%€283k▲ 33.7%€212k▼ 25.2%
2022: €140klowest in 4 years
2023: €212k▲ +50.9% vs 2022
2024: €283k▲ +33.7% vs 2023highest in 4 years
2025: €212k▼ -25.2% vs 2024
Operating result€220k-€102k▼ 53.6%€93k▼ 9.0%€134k▲ 44.8%
2022: €220khighest in 4 years
2023: €102k▼ -53.6% vs 2022
2024: €93k▼ -9.0% vs 2023lowest in 4 years
2025: €134k▲ +44.8% vs 2024
Net result€155k-€73k▼ 52.7%€73k=€105k▲ 43.4%
2022: €155khighest in 4 years
2023: €73k▼ -52.7% vs 2022lowest in 4 years
2024: €73k● +0.0% vs 2023
2025: €105k▲ +43.4% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 45% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €340k
Fixed assets
€5k ▼ 41.4%
Current assets
€335k ▲ 0.7%
Equity and liabilities €340k
Equity
€212k ▼ 25.2%
Debt
€128k ▲ 123%
Debt's share of the balance-sheet total rises from 16.8% to 37.6%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€139k▲
2024 · €103k
Cash flow
€110k▲
2024 · €84k
Current ratio
2.62▼
2024 · 5.81
Debt to equity
0.60▲
2024 · 0.20
ROE
49.5%▲
2024 · 25.8%
ROA
30.9%▲
2024 · 21.5%
Interest coverage
2173.87▲
2024 · 1692.63
Debt ≤ 1 year
€128k▲
2024 · €57k
Income taxes
€30k▲
2024 · €20k
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 · 2025 against 2024 · 44 lines
Balance sheet
Code20242025
Assets
Total assets20/58€341k€340k▼
Fixed assets21/28€8k€5k▼
Tangible fixed assets22/27€8k€5k▼
Plant, machinery and equipment23€2k€2k▼
Furniture and vehicles24€6k€3k▼
Current assets29/58€332k€335k▲
Amounts receivable within one year40/41€26k€16k▼
Trade receivables40€6k€15k▲
Other amounts receivable41€20k€1k▼
Cash at bank and in hand54/58€304k€317k▲
Deferred charges and accrued income490/1€2k€1k▼
Equity and liabilities
Total equity and liabilities10/49€341k€340k▼
Equity10/15€283k€212k▼
Contributions10/11€1€1=
Reserves13€212k€212k=
Distributable reserves133€212k€212k=
Profit (loss) carried forward14€71k€0▼
Amounts payable17/49€57k€128k▲
Amounts payable within one year42/48€57k€128k▲
Trade debts44€2k€465▼
Suppliers440/4€2k€465▼
Taxes, remuneration and social security45€54k€22k▼
Taxes450/3€54k€22k▼
Remuneration and social security454/9€0-
Other amounts payable47/48€1k€106k▲
Accrued charges and deferred income492/3€0-
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€11k€5k▼
Other operating charges640/8€64€853▲
Gross operating margin9900€103k€140k▲
Operating profit (loss)9901€93k€134k▲
Financial income75/76B€0€0▼
Recurring financial income75€0€0▼
Financial charges65/66B€61€64▲
Recurring financial charges65€61€64▲
Profit (loss) for the period before taxes9903€93k€134k▲
Income taxes67/77€20k€30k▲
Profit (loss) for the period9904€73k€105k▲
Profit (loss) for the period to be appropriated9905€73k€105k▲
Appropriation of the result
Profit (loss) to be appropriated9906€73k€176k▲
Profit (loss) brought forward from the previous period14P-€71k
Transfer to equity691/2€0-
To other reserves6921€0-
Profit to be distributed694/7€2k€176k▲
Return on contributions (dividend)694€2k€176k▲
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7k | €9k | €11k | €5k | ▼ 55.3% |
| Other operating charges640/8 | €91 | €302 | €64 | €853 | ▲ 1,237% |
| Gross operating margin9900 | €227k | €112k | €103k | €140k | ▲ 35.4% |
| Operating profit (loss)9901 | €220k | €102k | €93k | €134k | ▲ 44.8% |
| Financial income75/76B | - | - | €0 | €0 | ▼ 100% |
| Recurring financial income75 | - | - | €0 | €0 | ▼ 100% |
| Financial charges65/66B | €106 | €83 | €61 | €64 | ▲ 4.8% |
| Recurring financial charges65 | €106 | €83 | €61 | €64 | ▲ 4.8% |
| Profit (loss) for the period before taxes9903 | €220k | €102k | €93k | €134k | ▲ 44.8% |
| Income taxes67/77 | €65k | €29k | €20k | €30k | ▲ 50.2% |
| Profit (loss) for the period9904 | €155k | €73k | €73k | €105k | ▲ 43.4% |
| Profit (loss) for the period to be appropriated9905 | €155k | €73k | €73k | €105k | ▲ 43.4% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €234k | €261k | €341k | €340k | ▼ 0.3% |
| Fixed assets21/28 | €20k | €18k | €8k | €5k | ▼ 41.4% |
| Tangible fixed assets22/27 | €20k | €18k | €8k | €5k | ▼ 41.4% |
| Plant, machinery and equipment23 | €3k | €3k | €2k | €2k | ▼ 25.7% |
| Furniture and vehicles24 | €17k | €15k | €6k | €3k | ▼ 47.7% |
| Current assets29/58 | €215k | €243k | €332k | €335k | ▲ 0.7% |
| Amounts receivable within one year40/41 | - | €11k | €26k | €16k | ▼ 38.0% |
| Trade receivables40 | - | €9k | €6k | €15k | ▲ 132% |
| Other amounts receivable41 | - | €1k | €20k | €1k | ▼ 93.2% |
| Cash at bank and in hand54/58 | €203k | €220k | €304k | €317k | ▲ 4.5% |
| Deferred charges and accrued income490/1 | €11k | €13k | €2k | €1k | ▼ 48.0% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €234k | €261k | €341k | €340k | ▼ 0.3% |
| Equity10/15 | €140k | €212k | €283k | €212k | ▼ 25.2% |
| Contributions10/11 | €1 | €1 | €1 | €1 | = |
| Reserves13 | €140k | €212k | €212k | €212k | = |
| Distributable reserves133 | €140k | €212k | €212k | €212k | = |
| Profit (loss) carried forward14 | - | €0 | €71k | €0 | ▼ 100% |
| Amounts payable17/49 | €94k | €49k | €57k | €128k | ▲ 123% |
| Amounts payable within one year42/48 | €89k | €38k | €57k | €128k | ▲ 123% |
| Trade debts44 | - | €177 | €2k | €465 | ▼ 74.5% |
| Suppliers440/4 | - | €177 | €2k | €465 | ▼ 74.5% |
| Taxes, remuneration and social security45 | €69k | €37k | €54k | €22k | ▼ 60.2% |
| Taxes450/3 | €69k | €37k | €54k | €22k | ▼ 60.2% |
| Remuneration and social security454/9 | - | €30 | €0 | - | - |
| Other amounts payable47/48 | €19k | €1k | €1k | €106k | ▲ 7,426% |
| Accrued charges and deferred income492/3 | €5k | €11k | €0 | - | - |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €155k | €73k | €73k | €105k | ▲ 43.4% |
| + Depreciation and write-downs630 | €7k | €9k | €11k | €5k | ▼ 55.3% |
| Operating cash flow (approximation) | €161k | €83k | €84k | €110k | ▲ 31.0% |
| Investment in fixed assets (approximation) | - | €-7k | €-1k | €-1k | ▼ 7.4% |
| Change in cash | - | €16k | €84k | €14k | ▼ 83.8% |
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
Next filing, fiscal year 2026, expected by
2026
23-03
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
02-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
03-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet €73k ▼52.7%
Net result drops to €73k, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity triplescurrent ratio 6.36
Current ratio from 2.42 to 6.36; short-term debt falls from €89k to €38k.
31-12
Financial
Equity above €200kEq €212k ▲50.9%
2 profitable years in a row build equity to €212k.
04-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Bierbeek · 1 establishment unit since 2021
Ground area
1,383 m²
Building footprint
156 m²
Volume, LiDAR
1,139 m³
Parcel 24053B0011/00D000, Flanders · tallest building 10.9 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
MTH Advisory
since 20212.316.117.302
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24053B0011/00D000 | Flanders | 1,383 m² | 1 · 156 m² | 10.9 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 24,497 companies in sector 82990 we hold annual accounts for 9,406. 6,871 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
Founded08-04-2021
Fiscal year end31-12
Activities, NACEBEL 2025
82990Other business support services
Contact
E-mail
haritjamwal@mthadvisory.beBierbeek
Scores and ratios are computed by Checked and are not a credit decision.