Summary
MUGGE is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2024 annual accounts show equity of €390,521 and a net result of €33,708. Equity is growing by ~53.8% per year across the filed fiscal years. Its solvency ranks better than 54% of 6155 sector peers (fiscal year 2024). The company has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
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 04-06-2025, 57 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
not confirmed
2024
57 d early
2023
29 d early
2022
12 d early
2021
25 d early
2020
32 d early
2019
29 d early
← 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 31 days before the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, abbreviated schema
Equity
€390,521▲ 9.4%
2023 · €356,813
Net result
€33,708▼ 58.8%
2023 · €81,774
Total assets
€691,062▲ 1.4%
2023 · €681,422
Solvency
56.5%▲ 4.1pp
2023 · 52.4%
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, 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
Line20202021202220232024
Operating result€56,491▲ 220%€102,203▲ 80.9%€130,843▲ 28.0%€111,443▼ 14.8%€51,031▼ 54.2%
Net result€42,566within the sector's middle half▲ 244%€78,426within the sector's middle half▲ 84.2%€100,187within the sector's middle half▲ 27.7%€81,774within the sector's middle half▼ 18.4%€33,708within the sector's middle half▼ 58.8%
Equity€96,427below the sector's middle half▲ 79.0%€174,853within the sector's middle half▲ 81.3%€275,039within the sector's middle half▲ 57.3%€356,813within the sector's middle half▲ 29.7%€390,521within the sector's middle half▲ 9.4%
Total assets€477,103below the sector's middle half▲ 18.4%€548,213below the sector's middle half▲ 14.9%€611,918within the sector's middle half▲ 11.6%€681,422within the sector's middle half▲ 11.4%€691,062within the sector's middle half▲ 1.4%
Debt€380,677▲ 9.0%€373,361▼ 1.9%€336,879▼ 9.8%€324,610▼ 3.6%€300,542▼ 7.4%
Working capital€10,194€68,328▲ 570%€146,044▲ 114%€141,047▼ 3.4%€166,887▲ 18.3%
Solvency20.2%below the sector's middle half▲ 6.8pp31.9%within the sector's middle half▲ 11.7pp44.9%within the sector's middle half▲ 13.1pp52.4%within the sector's middle half▲ 7.4pp56.5%within the sector's middle half▲ 4.1pp
above
within
below
the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, 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 fallen two years in a row; 2024 is 54% below 2023 and is the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €691,062
Fixed assets
€427,588 ▼ 3.7%
Current assets
€263,475 ▲ 11.1%
Equity and liabilities €691,062
Equity
€390,521 ▲ 9.4%
Debt
€300,542 ▼ 7.4%
Debt's share of the balance-sheet total falls from 47.6% to 43.5%. Equity is higher and debt is lower.
Key figures and ratios
ROE
8.6%▼
2023 · 22.9%
ROA
4.9%▼
2023 · 12.0%
Debt ≤ 1 year
€96,588▲
2023 · €96,176
Debt > 1 year
€203,954▼
2023 · €228,433
Income taxes
€9,057▼
2023 · €21,069
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,254 | €1,512 | €1,571 | €14,849 | €16,611 | ▲ 11.9% |
| Other operating charges640/8 | - | €411 | €270 | €623 | €427 | ▼ 31.4% |
| Gross operating margin9900 | €57,854 | €104,125 | €132,684 | €126,915 | €68,069 | ▼ 46.4% |
| Operating profit (loss)9901 | €56,491 | €102,203 | €130,843 | €111,443 | €51,031 | ▼ 54.2% |
| Financial income75/76B | - | €1 | €0 | €4,002 | €4,160 | ▲ 4.0% |
| Recurring financial income75 | - | €1 | €0 | €4,002 | €4,160 | ▲ 4.0% |
| Financial charges65/66B | - | €4,015 | €3,928 | €12,602 | €12,427 | ▼ 1.4% |
| Recurring financial charges65 | €2,942 | €4,015 | €3,928 | €12,602 | €12,427 | ▼ 1.4% |
| Profit (loss) for the period before taxes9903 | €53,549 | €98,189 | €126,915 | €102,843 | €42,765 | ▼ 58.4% |
| Income taxes67/77 | €10,983 | €19,763 | €26,729 | €21,069 | €9,057 | ▼ 57.0% |
| Profit (loss) for the period9904 | €42,566 | €78,426 | €100,187 | €81,774 | €33,708 | ▼ 58.8% |
| Profit (loss) for the period to be appropriated9905 | €42,566 | €78,426 | €100,187 | €81,774 | €33,708 | ▼ 58.8% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €477,103 | €548,213 | €611,918 | €681,422 | €691,062 | ▲ 1.4% |
| Fixed assets21/28 | €380,625 | €379,113 | €378,684 | €444,199 | €427,588 | ▼ 3.7% |
| Tangible fixed assets22/27 | €3,900 | €2,388 | €1,959 | €67,473 | €50,862 | ▼ 24.6% |
| Plant, machinery and equipment23 | - | - | €1,082 | €854 | €626 | ▼ 26.7% |
| Furniture and vehicles24 | - | €2,388 | €876 | €66,619 | €50,237 | ▼ 24.6% |
| Financial fixed assets28 | €376,725 | €376,725 | €376,725 | €376,725 | €376,725 | = |
| Current assets29/58 | €96,478 | €169,100 | €233,233 | €237,224 | €263,475 | ▲ 11.1% |
| Amounts receivable within one year40/41 | €1,413 | €237 | €148,671 | €176,996 | €169,535 | ▼ 4.2% |
| Trade receivables40 | - | - | €48,400 | €72,725 | €55,375 | ▼ 23.9% |
| Other amounts receivable41 | - | €237 | €100,271 | €104,271 | €114,160 | ▲ 9.5% |
| Cash at bank and in hand54/58 | €95,065 | €168,713 | €84,356 | €59,836 | €93,542 | ▲ 56.3% |
| Deferred charges and accrued income490/1 | - | €150 | €206 | €391 | €398 | ▲ 1.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €477,103 | €548,213 | €611,918 | €681,422 | €691,062 | ▲ 1.4% |
| Equity10/15 | €96,427 | €174,853 | €275,039 | €356,813 | €390,521 | ▲ 9.4% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €77,827 | €156,253 | €256,439 | €338,213 | €371,921 | ▲ 10.0% |
| Non-distributable reserves130/1 | - | €1,763 | €1,763 | €0 | - | - |
| Reserves not available under the articles1311 | - | €1,763 | €1,763 | €0 | - | - |
| Distributable reserves133 | - | €154,489 | €254,676 | €338,213 | €371,921 | ▲ 10.0% |
| Amounts payable17/49 | €380,677 | €373,361 | €336,879 | €324,610 | €300,542 | ▼ 7.4% |
| Amounts payable after more than one year17 | €294,392 | €272,589 | €249,689 | €228,433 | €203,954 | ▼ 10.7% |
| Other amounts payable178/9 | - | €272,589 | €249,689 | €228,433 | €203,954 | ▼ 10.7% |
| Amounts payable within one year42/48 | €86,284 | €100,772 | €87,189 | €96,176 | €96,588 | ▲ 0.4% |
| Current portion of amounts payable after more than one year42 | - | €21,804 | €22,899 | €23,866 | €24,479 | ▲ 2.6% |
| Trade debts44 | €973 | €501 | €1,185 | €866 | €704 | ▼ 18.7% |
| Suppliers440/4 | - | €501 | €1,185 | €866 | €704 | ▼ 18.7% |
| Taxes, remuneration and social security45 | - | €22,824 | €7,459 | €25,046 | €15,204 | ▼ 39.3% |
| Taxes450/3 | - | €18,842 | €7,459 | €21,051 | €13,145 | ▼ 37.6% |
| Remuneration and social security454/9 | - | €3,982 | €0 | €3,995 | €2,059 | ▼ 48.5% |
| Other amounts payable47/48 | - | €55,643 | €55,646 | €46,399 | €56,200 | ▲ 21.1% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €42,566 | €78,426 | €100,187 | €81,774 | €33,708 | ▼ 58.8% |
| + Depreciation and write-downs630 | €1,254 | €1,512 | €1,571 | €14,849 | €16,611 | ▲ 11.9% |
| Operating cash flow (approximation) | €43,821 | €79,937 | €101,758 | €96,623 | €50,319 | ▼ 47.9% |
| Investment in fixed assets (approximation) | - | €0 | -€1,142 | -€80,364 | €0 | ▲ 100% |
| Change in cash | - | €73,648 | -€84,357 | -€24,520 | €33,706 | ▲ 237% |
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
04-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
02-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
19-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Highest result since 2018net €100,187 ▲27.7%
Operating result €130,843, net result €100,187, both a record.
31-12
Financial
Equity above €200,000Eq €275,039 ▲57.3%
5 profitable years in a row build equity to €275,039.
06-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Equity above €150,000Eq €174,853 ▲81.3%
4 profitable years in a row build equity to €174,853.
29-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Liquidity doublescurrent ratio 1.12
Current ratio from 0.52 to 1.12.
02-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
04-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
05-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
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, Veurne · 1 establishment unit since 2016
Ground area
227 m²
Building footprint
123 m²
Volume, LiDAR
908 m³
Parcel 38025A0517/00E000, Flanders · tallest building 11.9 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Mugge
since 20162.259.392.294
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 38025A0517/00E000 | Flanders | 227 m² | 1 · 123 m² | 11.9 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.
Structure & network
Owners and holdings
2 holdingsOwners 0
The accounts to 31-12-2024 list no shareholders, and no other source names one.
Holdings 2
-
100%
-
99.6%
According to the 2024 annual accounts of MUGGE 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.
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Of 24,729 companies in sector 64210 we hold annual accounts for 19,799. 13,772 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
Founded22-12-2016
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
E-invoicing
Reachable via Peppol
Peppol ID
0208:0668362167
Also
9925:BE0668362167
Registered
28-11-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.