Multhi

Active

Private limited companyfounded 20232 yrs activeBoulognestraat(Kok) 7, 8670 Koksijde, BelgiumKBO/BCE: BE 1003.955.641

The computed 12-month bankruptcy probability of Multhi is 3.4% (moderate). The 2025 annual accounts show equity of €123k and a net result of €66k. Its solvency ranks better than 62% of 13061 sector peers (fiscal year 2025). The company has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals.

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Checked score

Score 2025

89 / 100

Excellent▲ +36 vs 2024

The score combines four axes. Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability100=

Solvency72▲+37

Growth78

Stability82

Bankruptcy probability, 12 months

3.4% Moderate

0%0.5%1.5%4%10%≥ 25%

Credit up to €11k at 30 days only on tighter terms

Liquidity tight (current ratio 1.23 against 0.64 in 2024), and 56.2% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Six signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Higher-failure-rate sector

In this sector companies fail more often than the Belgian average.

Gazette · bankruptcies per sector, NACE 56

Relative position

BE, all sectors

reference

Sector 56

higher

← fewer bankruptcies more bankruptcies →

Young company

A young company has little track record yet and statistically fails more often than an established one.

KBO · incorporation date

Age against the risk zone

Annual accounts: healthy financial profile

The latest annual accounts show a healthy profile in solvency, result and liquidity.

NBB · annual accounts 2025

Solvency, return and age of the figures

Solvency

43.8%

Return on assets

23.5%

Age of the figures

8 mo

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 08-07-2026, 23 days ahead of the deadline.

NBB · 2 filings

Deviation from the deadline

2025

23 d early

2024

27 d early

← before the deadline after the deadline →

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 months

Position in the running window

15-09-2026 today31-12-2026 close31-07-2027 deadline

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2025, micro schema

Equity

€123k▲ 115%

2024 · €57k

2024: €57k

2024 → 2025

Total assets

€280k▲ 34.7%

2024 · €208k

2024: €208k

2024 → 2025

Net result

€66k▲ 25.8%

2024 · €52k

2024: €52k

2024 → 2025

Working capital

€35k

2024 · €-47k

2024: €-47k

2024 → 2025

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20242025Trend

Equity€57k-€123k▲ 115%

Operating result€70k-€87k▲ 23.6%

Net result€52k-€66k▲ 25.8%

Turnover and EBIT margin not published: the micro schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result rises in 2025; 2025 is 24% above 2024.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €280k

34.7%

65.3%

Fixed assets €97k▼ 21.1%

Current assets €183k▲ 116%

Equity and liabilities €280k

43.8%

56.2%

Equity €123k▲ 115%

Debt €157k▲ 4.2%

The debt ratio falls from 72.6% to 56.2%: equity grows faster than debt.

Key figures and ratios

2025 value · change against 2024

EBITDA

€118k▲

2024 · €101k

Cash flow

€98k▲

2024 · €83k

Solvency

43.8%▲

2024 · 27.4%

Current ratio

1.23▲

2024 · 0.64

Quick ratio

1.11▲

2024 · 0.52

Debt / equity

1.28▼

2024 · 2.64

ROE

53.5%▼

2024 · 91.6%

ROA

23.5%▼

2024 · 25.1%

Interest coverage

123.57▲

2024 · 59.53

Debt

€157k▲

2024 · €151k

Debt ≤ 1 year

€148k▲

2024 · €131k

Debt > 1 year

€0▼

2024 · €12k

Income taxes

€20k▲

2024 · €16k

Staff costs

€420k▲

2024 · €396k

Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.

Filed annual accounts

As filed with the NBB · 2025 against 2024

Balance sheet Code20242025

Assets

Total assets20/58€208k€280k▲

Fixed assets21/28€123k€97k▼

Intangible fixed assets21€9k€8k▼

Tangible fixed assets22/27€114k€89k▼

Plant, machinery and equipment23€90k€69k▼

Furniture and vehicles24€24k€17k▼

Other tangible fixed assets26-€3k

Current assets29/58€85k€183k▲

Stocks and contracts in progress3€16k€18k▲

Stocks30/36€16k€18k▲

Amounts receivable within one year40/41€16k€34k▲

Trade receivables40-€422

Other amounts receivable41€16k€33k▲

Cash at bank and in hand54/58€43k€124k▲

Deferred charges and accrued income490/1€10k€7k▼

Equity and liabilities

Total equity and liabilities10/49€208k€280k▲

Equity10/15€57k€123k▲

Contributions10/11€5k€5k=

Reserves13€52k€118k▲

Distributable reserves133€52k€118k▲

Amounts payable17/49€151k€157k▲

Amounts payable after more than one year17€12k€0▼

Financial debts170/4€12k€0▼

Amounts payable within one year42/48€131k€148k▲

Current portion of amounts payable after more than one year42€25k€28k▲

Trade debts44€41k€36k▼

Suppliers440/4€41k€36k▼

Taxes, remuneration and social security45€65k€85k▲

Taxes450/3€14k€35k▲

Remuneration and social security454/9€51k€50k▼

Accrued charges and deferred income492/3€7k€9k▲

Income statement Code20242025

Remuneration, social security and pensions62€396k€420k▲

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€31k€32k▲

Other operating charges640/8€2k€3k▲

Gross operating margin9900€499k€541k▲

Operating profit (loss)9901€70k€87k▲

Financial income75/76B€25€12▼

Recurring financial income75€25€12▼

Financial charges65/66B€2k€958▼

Recurring financial charges65€2k€958▼

Profit (loss) for the period before taxes9903€68k€86k▲

Income taxes67/77€16k€20k▲

Profit (loss) for the period9904€52k€66k▲

Profit (loss) for the period to be appropriated9905€52k€66k▲

Appropriation of the result

Profit (loss) to be appropriated9906€52k€66k▲

Transfer to equity691/2€52k€66k▲

To other reserves6921€52k€66k▲

The notes to these accounts (10 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 3Financial 1Filings 2

Next filing, fiscal year 2026, expected by 31-07-2027

2026

08-07

NBB filing Annual accounts filed

fiscal year 2025 · micro schema

2025

31-12

Financial Equity above €100kEq €123k ▲115%

2 profitable years in a row build equity to €123k.

04-07

NBB filing Annual accounts filed

fiscal year 2024 · micro schema

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.

Location & real-estate footprint

Registered office, Koksijde · 1 establishment unit since 2023

establishment The establishment unit on the map

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Boulognestraat(Kok) 78670 Koksijde

Ground area

437 m²

Building footprint

210 m²

Volume, LiDAR

1,567 m³