MTP Projects
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 18-05-2026 PDF all 8 filings
Turnover
≈ €77,000
Estimated: probably between €45,000 and €110,000
Total assets
€2.4m▲ 1.7%
2024 · €2.4m
Net result
€60,781▼ 75.2%
2024 · €245,452
Working capital
€2.4m▲ 2.6%
2024 · €2.4m
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€25,393
▼ 81.5%
2025
20182025
Net result
€60,781
▼ 75.2%
2025
middle half of the sector
20182025
Equity
€2.4m
▲ 2.6%
2025
highest quarter of the sector
20182025
Total assets
€2.4m
▲ 1.7%
2025
highest quarter of the sector
20182025
Debt
€22,701
▼ 46.2%
2025
20182025
Working capital
€2.4m
▲ 2.6%
2025
highest quarter of the sector
20182025
Solvency
99.1%
▲ 0.8pp
2025
highest quarter of the sector
20182025
Current ratio
no figure
2025
20182025
Return on assets (ROA)
2.5%
▼ 7.8pp
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€0.5m-€0.3m▼ 30.0%€0.5m▲ 33.1%€0.7m▲ 61.0%€0.6m▼ 15.8%€0.4m▼ 40.0%€0.1m▼ 63.6%€0.03m▼ 81.5%
Net result€0.3m-€0.2m▼ 25.1%€0.3mabove the sector's middle half▲ 41.5%€0.5mabove the sector's middle half▲ 60.4%€0.4mabove the sector's middle half▼ 24.9%€0.4mabove the sector's middle half▼ 2.6%€0.2mabove the sector's middle half▼ 33.8%€0.06mwithin the sector's middle half▼ 75.2%
Equity€0.3m-€0.5m▲ 71.9%€0.8mabove the sector's middle half▲ 59.2%€1.4mabove the sector's middle half▲ 59.6%€1.7mabove the sector's middle half▲ 28.1%€2.1mabove the sector's middle half▲ 21.3%€2.4mabove the sector's middle half▲ 11.6%€2.4mabove the sector's middle half▲ 2.6%
Total assets€0.5m-€0.7m▲ 28.4%€1.0mabove the sector's middle half▲ 55.7%€1.5mabove the sector's middle half▲ 44.0%€1.8mabove the sector's middle half▲ 21.0%€2.2mwithin the sector's middle half▲ 23.0%€2.4mabove the sector's middle half▲ 8.1%€2.4mabove the sector's middle half▲ 1.7%
Debt€0.2m-€0.1m▼ 36.9%€0.2m▲ 41.4%€0.1m▼ 28.4%€0.06m▼ 51.4%€0.1m▲ 68.5%€0.04m▼ 60.9%€0.02m▼ 46.2%
Working capital€0.3m-€0.5m▲ 71.9%€0.8mabove the sector's middle half▲ 59.2%€1.4mabove the sector's middle half▲ 59.6%€1.7mabove the sector's middle half▲ 28.1%€2.1mabove the sector's middle half▲ 21.3%€2.4mabove the sector's middle half▲ 11.6%€2.4mabove the sector's middle half▲ 2.6%
Solvency60.0%-80.4%▲ 20.3pp82.2%above the sector's middle half▲ 1.8pp91.1%above the sector's middle half▲ 9.0pp96.4%above the sector's middle half▲ 5.3pp95.1%above the sector's middle half▼ 1.3pp98.2%above the sector's middle half▲ 3.1pp99.1%above the sector's middle half▲ 0.8pp
Current ratio2.50-5.09▲ 2.595.61above the sector's middle half▲ 0.5211.27above the sector's middle half▲ 5.6628.10above the sector's middle half▲ 16.8320.51above the sector's middle half▼ 7.5856.79above the sector's middle half▲ 36.28
Return on assets (ROA)57.6%-33.6%▼ 24.0pp30.6%above the sector's middle half▼ 3.1pp34.0%above the sector's middle half▲ 3.5pp21.1%within the sector's middle half▼ 12.9pp16.7%above the sector's middle half▼ 4.4pp10.2%within the sector's middle half▼ 6.5pp2.5%within the sector's middle half▼ 7.8pp
above
within
below
The sector band is the middle half of the companies in Activities of head offices; management consultancy activities (NACE 70). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 82% lower than in 2024 and the lowest since 2021. It is the fourth fall in a row.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €2.4m
Equity
€2.4m ▲ 2.6%
Debt
€22,701 ▼ 46.2%
Debt's share of the balance-sheet total falls from 1.8% to 0.9%. Equity is higher and debt is lower.
Key figures and ratios
Debt to equity
0.01▼
2024 · 0.02
ROE
2.5%▼
2024 · 10.4%
Debt ≤ 1 year
€22,701▼
2024 · €42,169
Income taxes
€30,735▼
2024 · €118,238
A ratio outside any meaningful range has been withheld (balance sheet total €2.4m, equity €2.4m).
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Other operating charges640/8 | - | - | - | €468 | €990 | €1,339 | €1,108 | €1,143 | ▲ 3.1% |
| Gross operating margin9900 | €500,130 | €350,035 | €466,202 | €750,138 | €631,909 | €379,868 | €138,716 | €26,535 | ▼ 80.9% |
| Operating profit (loss)9901 | €499,824 | €349,903 | €465,735 | €749,670 | €630,920 | €378,529 | €137,608 | €25,393 | ▼ 81.5% |
| Financial income75/76B | - | - | - | €0 | - | €172,026 | €226,144 | €66,201 | ▼ 70.7% |
| Recurring financial income75 | €0 | €2 | €25 | €0 | - | €172,026 | €226,144 | €66,201 | ▼ 70.7% |
| Financial charges65/66B | - | - | - | €7,680 | €89,444 | €55 | €62 | €78 | ▲ 26.3% |
| Recurring financial charges65 | €295 | €0 | €1,265 | €7,680 | €89,444 | €55 | €62 | €78 | ▲ 26.3% |
| Profit (loss) for the period before taxes9903 | €499,529 | €349,904 | €464,495 | €741,991 | €541,476 | €550,499 | €363,690 | €91,516 | ▼ 74.8% |
| Income taxes67/77 | €201,587 | €126,750 | €148,645 | €235,396 | €160,839 | €179,863 | €118,238 | €30,735 | ▼ 74.0% |
| Profit (loss) for the period9904 | €297,943 | €223,154 | €315,850 | €506,594 | €380,637 | €370,636 | €245,452 | €60,781 | ▼ 75.2% |
| Profit (loss) for the period to be appropriated9905 | €297,943 | €223,154 | €315,850 | €506,594 | €380,637 | €370,636 | €245,452 | €60,781 | ▼ 75.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.5m | €0.7m | €1.0m | €1.5m | €1.8m | €2.2m | €2.4m | €2.4m | ▲ 1.7% |
| Current assets29/58 | €0.5m | €0.7m | €1.0m | €1.5m | €1.8m | €2.2m | €2.4m | €2.4m | ▲ 1.7% |
| Amounts receivable within one year40/41 | €0.08m | €0.03m | €0.2m | €0.2m | €0.1m | €0.05m | €0.008m | €0.008m | ▼ 4.5% |
| Trade receivables40 | - | - | - | €0.2m | €0.09m | €0.05m | €0.008m | €0.008m | ▼ 4.0% |
| Other amounts receivable41 | - | - | - | - | €0.01m | €0 | €45 | €0 | ▼ 100% |
| Current investments50/53 | €31 | €31 | €0.5m | €0.9m | €1.3m | €1.9m | €2.1m | €2.2m | ▲ 2.9% |
| Cash at bank and in hand54/58 | €0.4m | €0.6m | €0.4m | €0.4m | €0.4m | €0.2m | €0.2m | €0.2m | ▼ 9.2% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | €0.007m | €0.007m | €0.007m | ▲ 5.1% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.5m | €0.7m | €1.0m | €1.5m | €1.8m | €2.2m | €2.4m | €2.4m | ▲ 1.7% |
| Equity10/15 | €0.3m | €0.5m | €0.8m | €1.4m | €1.7m | €2.1m | €2.4m | €2.4m | ▲ 2.6% |
| Contributions10/11 | €0.01m | €0.01m | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Reserves13 | €0.3m | €0.5m | €0.8m | €1.3m | €1.7m | €2.1m | €2.3m | €2.4m | ▲ 2.6% |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €0.002m | €0.002m | €0 | - | - | - |
| Distributable reserves133 | - | - | - | €1.3m | €1.7m | €2.1m | €2.3m | €2.4m | ▲ 2.6% |
| Amounts payable17/49 | €0.2m | €0.1m | €0.2m | €0.1m | €0.06m | €0.1m | €0.04m | €0.02m | ▼ 46.2% |
| Amounts payable within one year42/48 | €0.2m | €0.1m | €0.2m | €0.1m | €0.06m | €0.1m | €0.04m | €0.02m | ▼ 46.2% |
| Trade debts44 | €0.003m | €0.004m | €0.004m | €26 | €0.007m | €0.006m | €261 | €0.003m | ▲ 12× |
| Suppliers440/4 | - | - | - | €26 | €0.007m | €0.006m | €261 | €0.003m | ▲ 12× |
| Taxes, remuneration and social security45 | - | - | - | €0.1m | €0.06m | €0.1m | €0.04m | €0.02m | ▼ 53.8% |
| Taxes450/3 | - | - | - | €0.1m | €0.06m | €0.1m | €0.04m | €0.02m | ▼ 53.8% |
| Other amounts payable47/48 | - | - | - | €0.001m | €0.001m | €0.001m | €495 | €467 | ▼ 5.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €297,943 | €223,154 | €315,850 | €506,594 | €380,637 | €370,636 | €245,452 | €60,781 | ▼ 75.2% |
| Operating cash flow (approximation) | €297,943 | €223,154 | €315,850 | €506,594 | €380,637 | €370,636 | €245,452 | €60,781 | ▼ 75.2% |
| Change in cash | - | €196,707 | -€276,651 | €42,764 | -€6,721 | -€152,265 | -€4,725 | -€21,708 | ▼ 359% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 1,639 companies had the same profile as MTP Projects has now. Two years later, 95.5% were still going and 0.5% had gone bankrupt.
- Small
- 5 to 10 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
95.5%
was still going
3.7%
stopped otherwise
0.5%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of MTP Projects itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 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 1,639 companies, not a prediction for MTP Projects. 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.
Filings with the National Bank (8)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 18-05-2026 | 2026-00117320 | |
| 31-12-2024 | micro format | 30-04-2025 | 2025-00085038 | |
| 31-12-2023 | abbreviated format | 20-06-2024 | 2024-00157998 | |
| 31-12-2022 | micro format | 27-06-2023 | 2023-00176461 | |
| 31-12-2021 | micro format | 08-11-2022 | 2022-20518095 | |
| 31-12-2020 | micro format | 29-06-2021 | 2021-27300197 | |
| 31-12-2019 | micro format | 28-05-2020 | 2020-13200487 | |
| 31-12-2018 | micro format | 03-06-2019 | 2019-15200352 |