MTJ
ActiveSummary
MTJ has been active since 1984 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€887,874) and a net result of -€93,847. Equity is shrinking by ~6.4% per year across the filed fiscal years. Its solvency ranks better than 6% of 4238 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability14▲+2
Solvency0=
Growth58=
Track record100
Bankruptcy probability, 12 months
1.5%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.72 against 0.68 in 2024; short-term debt: 136.3% and cash: 0.2% of total assets), and equity is negative.
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Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 · 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 2025Solvency, return and age of the figures
Solvency
-36.3%
Return on assets
-3.8%
Age of the figures
20 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year -€887,874
neutral · Filed after the deadline
The financial year that closed on 31-01-2025 was due by 31-08-2025 and was filed on 04-11-2025, 65 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2026
not confirmed
2025
65 d late
2024
51 d late
2023
91 d late
2022
48 d late
2021
58 d late
2020
59 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 62 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 47% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€93,847▲ 2.9%
2024 · -€96,602
Working capital
-€922,596▼ 9.1%
2024 · -€845,926
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€87,388▲ 28.0%€33,637-€4,665-€109,097▼ 2,238%-€102,847▲ 5.7%
Net result-€81,525below the sector's middle half▲ 11.3%€44,813within the sector's middle half€2,422within the sector's middle half▼ 94.6%-€96,602below the sector's middle half-€93,847below the sector's middle half▲ 2.9%
Equity-€744,660below the sector's middle half▼ 12.3%-€699,847below the sector's middle half▲ 6.0%-€697,425below the sector's middle half▲ 0.3%-€794,027below the sector's middle half▼ 13.9%-€887,874below the sector's middle half▼ 11.8%
Total assets€1.4mwithin the sector's middle half▲ 6.7%€1.3mwithin the sector's middle half▼ 3.4%€1.5mwithin the sector's middle half▲ 11.8%€1.9mwithin the sector's middle half▲ 24.3%€2.4mwithin the sector's middle half▲ 31.1%
Debt€2.1m▲ 8.6%€2.0m▼ 4.3%€2.2m▲ 7.6%€2.7m▲ 21.0%€3.3m▲ 25.3%
Working capital-€800,071below the sector's middle half▼ 14.1%-€775,349below the sector's middle half▲ 3.1%-€774,778below the sector's middle half▲ 0.1%-€845,926below the sector's middle half▼ 9.2%-€922,596below the sector's middle half▼ 9.1%
Solvency-53.6%below the sector's middle half▼ 2.7pp-52.1%below the sector's middle half▲ 1.4pp-46.5%below the sector's middle half▲ 5.7pp-42.6%below the sector's middle half▲ 3.9pp-36.3%below the sector's middle half▲ 6.3pp
Current ratio0.63below the sector's middle half▼ 0.020.62below the sector's middle half=0.65below the sector's middle half▲ 0.030.68below the sector's middle half▲ 0.030.72below the sector's middle half▲ 0.04
Return on assets (ROA)-5.9%below the sector's middle half▲ 1.2pp3.3%within the sector's middle half▲ 9.2pp0.2%within the sector's middle half▼ 3.2pp-5.2%below the sector's middle half▼ 5.3pp-3.8%below the sector's middle half▲ 1.3pp
Staff (FTE)3.2within the sector's middle half▼ 25.6%2.8within the sector's middle half▼ 12.5%2.8within the sector's middle half=2.8within the sector's middle half=3.7within the sector's middle half▲ 32.1%
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Staff figure corrected
- 2025 Filed: 140,854.3; shown: 3.7 (source: social balance report). The filed figure means under EUR 100 of staff costs per FTE.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €102,847 in 2025 against €109,097 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.4m
Fixed assets
€34,942 ▼ 32.7%
Current assets
€2.4m ▲ 32.9%
Key figures and ratios
EBITDA
-€72,856▲
2024 · -€79,319
Cash flow
-€63,855▲
2024 · -€66,824
Quick ratio
0.53▲
2024 · 0.44
Debt to equity
-3.75▼
2024 · -3.35
Interest coverage
-5.58▲
2024 · -7.35
Debt ≤ 1 year
€3.3m▲
2024 · €2.7m
Income taxes
€164▲
2024 · €124
Staff costs
€140,854▲
2024 · €105,864
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,795 companies that looked in July 2024 the way this one looks now, 2.1% went bankrupt within 24 months and 90% are still going.
- Micro
- 20 years or older
- negative equity
- a small loss
2.1%
went bankrupt
6.0%
stopped otherwise
90%
still going
A further 1.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.5% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 2,795 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €3,331 | - | €2 | €1,321 | ▲ 72,460% |
| Remuneration, social security and pensions62 | - | €91,861 | €111,485 | €105,864 | €140,854 | ▲ 33.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | €29,778 | €29,991 | ▲ 0.7% |
| Other operating charges640/8 | - | €1,790 | €8,219 | €2,833 | €72,359 | ▲ 2,454% |
| Non-recurring operating charges66A | - | - | - | - | €9 | - |
| Gross operating margin9900 | -€8,202 | €127,288 | €115,038 | €29,377 | €140,366 | ▲ 378% |
| Operating profit (loss)9901 | -€87,388 | €33,637 | -€4,665 | -€109,097 | -€102,847 | ▲ 5.7% |
| Financial income75/76B | - | €20,334 | €20,012 | €23,412 | €22,215 | ▼ 5.1% |
| Recurring financial income75 | €19,664 | €20,334 | €20,012 | €23,412 | €22,215 | ▼ 5.1% |
| Financial charges65/66B | - | €8,974 | €12,778 | €10,794 | €13,050 | ▲ 20.9% |
| Recurring financial charges65 | €13,801 | €8,974 | €12,778 | €10,794 | €13,050 | ▲ 20.9% |
| Profit (loss) for the period before taxes9903 | -€81,525 | €44,997 | €2,568 | -€96,479 | -€93,682 | ▲ 2.9% |
| Income taxes67/77 | - | €184 | €146 | €124 | €164 | ▲ 33.1% |
| Profit (loss) for the period9904 | -€81,525 | €44,813 | €2,422 | -€96,602 | -€93,847 | ▲ 2.9% |
| Profit (loss) for the period to be appropriated9905 | -€81,525 | €44,813 | €2,422 | -€96,602 | -€93,847 | ▲ 2.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.4m | €1.3m | €1.5m | €1.9m | €2.4m | ▲ 31.1% |
| Fixed assets21/28 | €56,691 | €75,502 | €78,002 | €51,899 | €34,942 | ▼ 32.7% |
| Intangible fixed assets21 | €997 | €997 | €997 | €321 | - | - |
| Tangible fixed assets22/27 | €54,894 | €73,705 | €76,205 | €50,778 | €34,142 | ▼ 32.8% |
| Plant, machinery and equipment23 | - | €9,354 | €9,354 | €5,385 | €1,736 | ▼ 67.8% |
| Furniture and vehicles24 | - | €32,932 | €32,932 | €26,102 | €18,462 | ▼ 29.3% |
| Leasing and similar rights25 | - | €15,270 | €15,270 | €7,911 | €551 | ▼ 93.0% |
| Other tangible fixed assets26 | - | €16,149 | €18,649 | €11,380 | €13,393 | ▲ 17.7% |
| Financial fixed assets28 | €800 | €800 | €800 | €800 | €800 | = |
| Current assets29/58 | €1.3m | €1.3m | €1.4m | €1.8m | €2.4m | ▲ 32.9% |
| Stocks and contracts in progress3 | €979,536 | €732,141 | €688,228 | €647,405 | €638,539 | ▼ 1.4% |
| Stocks30/36 | - | €732,141 | €688,228 | €647,405 | €638,539 | ▼ 1.4% |
| Amounts receivable within one year40/41 | €338,896 | €516,671 | €722,861 | €1.2m | €1.8m | ▲ 52.6% |
| Trade receivables40 | - | €325,612 | €529,026 | €930,394 | €1.5m | ▲ 63.7% |
| Other amounts receivable41 | - | €191,058 | €193,835 | €220,167 | €233,236 | ▲ 5.9% |
| Cash at bank and in hand54/58 | €6,607 | €9,583 | €9,571 | €5,355 | €5,734 | ▲ 7.1% |
| Deferred charges and accrued income490/1 | - | €8,473 | €2,318 | €9,859 | €9,908 | ▲ 0.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.4m | €1.3m | €1.5m | €1.9m | €2.4m | ▲ 31.1% |
| Equity10/15 | -€744,660 | -€699,847 | -€697,425 | -€794,027 | -€887,874 | ▼ 11.8% |
| Contributions10/11 | €573,950 | €573,950 | €573,950 | €573,950 | €573,950 | = |
| Capital10 | - | €573,950 | €573,950 | €573,950 | €573,950 | = |
| Issued capital100 | - | €573,950 | €573,950 | €573,950 | €573,950 | = |
| Reserves13 | €39,248 | €39,248 | €39,248 | €39,248 | €39,248 | = |
| Non-distributable reserves130/1 | - | €12,395 | €12,395 | €12,395 | €12,395 | = |
| Legal reserve130 | - | €12,395 | €12,395 | €12,395 | €12,395 | = |
| Tax-exempt reserves132 | - | €26,853 | €26,853 | €26,853 | €26,853 | = |
| Profit (loss) carried forward14 | -€1.4m | -€1.3m | -€1.3m | -€1.4m | -€1.5m | ▼ 6.7% |
| Amounts payable17/49 | €2.1m | €2.0m | €2.2m | €2.7m | €3.3m | ▲ 25.3% |
| Amounts payable within one year42/48 | €2.1m | €2.0m | €2.2m | €2.7m | €3.3m | ▲ 25.3% |
| Trade debts44 | €50,239 | €65,506 | €105,836 | €112,165 | €72,342 | ▼ 35.5% |
| Suppliers440/4 | - | €65,506 | €105,836 | €112,165 | €72,342 | ▼ 35.5% |
| Taxes, remuneration and social security45 | - | €403,195 | €32,315 | €36,014 | €61,914 | ▲ 71.9% |
| Taxes450/3 | - | €385,989 | €11,279 | €22,866 | €39,448 | ▲ 72.5% |
| Remuneration and social security454/9 | - | €17,207 | €21,036 | €13,148 | €22,466 | ▲ 70.9% |
| Other amounts payable47/48 | - | €1.6m | €2.1m | €2.5m | €3.2m | ▲ 27.4% |
| Accrued charges and deferred income492/3 | - | - | €649 | - | €219 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€81,525 | €44,813 | €2,422 | -€96,602 | -€93,847 | ▲ 2.9% |
| + Depreciation and write-downs630 | - | - | - | €29,778 | €29,991 | ▲ 0.7% |
| Operating cash flow (approximation) | -€81,525 | €44,813 | €2,422 | -€66,824 | -€63,855 | ▲ 4.4% |
| Investment in fixed assets (approximation) | - | -€18,810 | -€2,501 | -€3,674 | -€13,034 | ▼ 255% |
| Change in cash | - | €2,976 | -€12 | -€4,216 | €378 | ▲ 109% |
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
2025
04-11
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 65 days late
2024
21-10
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 51 days late
2023
30-11
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 91 days late
2022
18-10
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 48 days late
31-01
Financial
Back to profitnet €44,813
Net result €44,813 after 3 loss-making years.
2021
28-10
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 58 days late
2020
29-10
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 59 days late
2019
30-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 30 days late
2018
01-10
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 31 days late
2017
29-09
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 29 days late
2016
26-09
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 26 days late
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, Ukkel · 2 establishment units since 1984
Ground area
2,727 m²
Building footprint
586 m²
Volume, LiDAR
6,823 m³
3 parcels, Brussels, Wallonia · tallest building 15.6 m, ±4 floors. Linked by address, not a title deed.
15
companies at this address
See who is registered here
2 establishment units
Rue de la Tuilerie 107, 4030 Liège
since 19842.024.536.092
Rue de l'Yser 421, 4430 Ans
since 20032.124.655.336
3 parcels
Wallonia
2
(66.7%)
Brussels
1
(33.3%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21612C0174/00C005 | Brussels | 1,400 m² | 1 · 378 m² | 15.6 m · 4 fl. |
| 62302C0098/00T003 | Wallonia | 878 m² | 1 · 76 m² | 9.0 m · 2 fl. |
| 62332B0026/00F003 | Wallonia | 449 m² | 1 · 132 m² | 13.7 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
3 of 3 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 1,035 companies in sector 47721 we hold annual accounts for 583. 183 are within a factor 10 of this headcount. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded17-04-1984
Fiscal year end31-01
Activities, NACEBEL 2025
47721Retail sale of footwear
46425Wholesale trade
47722Retail trade
E-invoicing
Reachable via Peppol
Peppol ID
0208:0425645205
Also
9925:BE0425645205
Registered
08-01-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.