Multi
ActiveSummary
Multi has been active since 1993 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.4m and a net result of €158,717. Equity has been growing by about 14% per year since 2019. Its solvency ranks better than 30% of 2,816 sector peers (NACE 82, financial year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 07-12-1993 Normal situation
- Registered office
- 20 active companies are registered at this address 1 started in the 12 months before. Source: KBO register, as of 4 November 2026.
- Activity
- Other business support services NACE 82990and 3 others
- Establishment unit
- 2.064.843.750 9300 Aalst, since 27-12-1993
- Financial year end
- 30 September
- Peppol
- Reachable since 10-06-2025
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.4%
- Gross margin
- €648,575
- ▲ 63.7%
- Turnover
- ≈ €970,000
- estimated
- Profit
- €158,717
- Equity
- €1.4m
- ▲ 12.8%
- Total assets
- €7.1m
- ▲ 6.8%
- Staff
- ≈ 1.1 FTE
- estimated
- 2025 accounts filed 27 days after the deadline
Score breakdownraises riskLiquidity: current ratio 0.73, cash €10,655Last filed accounts filed 27 days late; 2 of the last 3 accounts latelowers riskSize: total assets €7.1mFounded in 1993Show the evidence
Checked score
About 4 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 82, small). It does better than 28% of them on solvency, 13% on liquidity, 34% on profitability and 67% on growth.
The bankruptcy probability was computed on 04-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 7 accounts on average 33 days after the deadline. In the sector (NACE 82), the median for financial year 2024 was 7 days before the deadline, and 35% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, abbreviated format
2025 annual accounts filed 27 days after the deadline Filed on 27 May 2026, deadline 30 April 2026 (7 months after the close on 30 September 2025, Companies Code art. 3:10). Source: NBB, 2026-00122620.
Annual accounts 2025 filed on 27-05-2026 PDF all 7 filings
Every figure per financial year
The operating result for 2025 is nearly 3.7 times that of 2024. It is a recovery after the fall in 2024.
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.
Investments
| Item | 30-09-2021 | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €1.1m | €703,127 | €786,189 | €503,847 | €87,760 |
| Financial fixed assets | - | €10,000 | - | - | - |
| Depreciation and write-downs of the year | €203,190 | €170,331 | €187,502 | €168,965 | €130,727 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | €1,224 | - |
| Remuneration, social security and pensions62 | - | - | €48,860 | €53,714 | €54,923 | €58,372 | €63,526 | ▲ 8.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €419,083 | €56,586 | €203,190 | €170,331 | €187,502 | €168,965 | €130,727 | ▼ 22.6% |
| Other operating charges640/8 | - | - | €57,653 | €61,025 | €62,890 | €67,012 | €82,418 | ▲ 23.0% |
| Gross operating margin9900 | €646,958 | €407,081 | €456,405 | €776,608 | €426,594 | €396,121 | €648,575 | ▲ 63.7% |
| Operating profit (loss)9901 | €137,431 | €263,838 | €146,701 | €491,537 | €121,279 | €101,771 | €371,903 | ▲ 265% |
| Financial income75/76B | - | - | €25,096 | €23,284 | €21,569 | €19,517 | €17,969 | ▼ 7.9% |
| Recurring financial income75 | €51,007 | €26,832 | €25,096 | €23,284 | €21,569 | €19,517 | €17,969 | ▼ 7.9% |
| Financial charges65/66B | - | - | €40,514 | €45,392 | €66,089 | €123,825 | €161,505 | ▲ 30.4% |
| Recurring financial charges65 | €87,159 | €49,936 | €40,514 | €45,392 | €66,089 | €123,825 | €161,505 | ▲ 30.4% |
| Profit (loss) for the period before taxes9903 | €101,278 | €240,733 | €131,283 | €469,429 | €76,758 | -€2,537 | €228,367 | - |
| Transfer from deferred taxes780 | - | - | - | €15,300 | €15,300 | €3,808 | €3,808 | = |
| Transfer to deferred taxes680 | - | - | - | €125,672 | - | - | - | - |
| Income taxes67/77 | €15,255 | €68,664 | €44,731 | €7,571 | €32,961 | €5,747 | €73,457 | ▲ 13× |
| Profit (loss) for the period9904 | €86,024 | €172,069 | €86,552 | €351,487 | €59,098 | -€4,476 | €158,717 | - |
| Transfer from tax-exempt reserves789 | - | - | - | €45,899 | €45,899 | €11,425 | €11,425 | = |
| Transfer to tax-exempt reserves689 | - | - | - | €377,015 | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €86,024 | €172,069 | €86,552 | €20,371 | €104,997 | €6,949 | €170,142 | ▲ 24× |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €3.2m | €3.2m | €4.2m | €4.8m | €5.7m | €6.6m | €7.1m | ▲ 6.8% |
| Fixed assets21/28 | €2.3m | €2.2m | €3.1m | €3.4m | €3.9m | €4.3m | €4.2m | ▼ 1.5% |
| Tangible fixed assets22/27 | €2.3m | €2.2m | €3.1m | €3.3m | €3.9m | €4.3m | €4.2m | ▼ 1.5% |
| Land and buildings22 | - | - | €3.1m | €3.3m | €3.9m | €4.2m | €4.2m | ▼ 1.3% |
| Plant, machinery and equipment23 | - | - | - | - | €0.04m | €0.03m | €0.03m | ▼ 19.3% |
| Furniture and vehicles24 | - | - | - | - | €0.001m | €0.001m | €0.001m | ▼ 32.8% |
| Financial fixed assets28 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Current assets29/58 | €1.0m | €1.0m | €1.1m | €1.4m | €1.7m | €2.4m | €2.9m | ▲ 21.9% |
| Amounts receivable after more than one year29 | - | - | €0.7m | €0.7m | €0.6m | €0.5m | €0.5m | ▼ 12.5% |
| Other amounts receivable291 | - | - | €0.7m | €0.7m | €0.6m | €0.5m | €0.5m | ▼ 12.5% |
| Amounts receivable within one year40/41 | €0.06m | €0.09m | €0.4m | €0.7m | €1.1m | €1.8m | €2.3m | ▲ 33.5% |
| Trade receivables40 | - | - | €0.3m | €0.1m | €0.07m | €0.3m | €0.4m | ▲ 26.3% |
| Other amounts receivable41 | - | - | €0.06m | €0.6m | €1.0m | €1.4m | €1.9m | ▲ 35.3% |
| Current investments50/53 | €494 | €494 | €494 | €494 | €494 | €494 | €494 | = |
| Cash at bank and in hand54/58 | €0.07m | €0.06m | €0.02m | €0.02m | €0.02m | €0.02m | €0.01m | ▼ 36.3% |
| Deferred charges and accrued income490/1 | - | - | €0.007m | €0.007m | €0.04m | €0.03m | €0.04m | ▲ 7.8% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €3.2m | €3.2m | €4.2m | €4.8m | €5.7m | €6.6m | €7.1m | ▲ 6.8% |
| Equity10/15 | €0.6m | €0.7m | €0.8m | €1.2m | €1.2m | €1.2m | €1.4m | ▲ 12.8% |
| Contributions10/11 | €0.6m | - | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | = |
| Capital10 | - | - | - | - | - | - | €0.6m | - |
| Issued capital100 | - | - | - | - | - | - | €0.6m | - |
| Contributions outside capital11 | - | - | €0.6m | - | €0.6m | - | - | - |
| Share premium1100/10 | - | - | €8 | - | €8 | - | - | - |
| Other1109/19 | - | - | €0.6m | - | €0.6m | - | - | - |
| Reserves13 | €0.04m | €0.2m | €0.3m | €0.6m | €0.6m | €0.5m | €0.5m | ▼ 2.1% |
| Tax-exempt reserves132 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | ▼ 4.2% |
| Distributable reserves133 | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Profit (loss) carried forward14 | €0.02m | €0.02m | €0.02m | €0.03m | €0.1m | €0.1m | €0.3m | ▲ 124% |
| Provisions and deferred taxes16 | - | - | - | €0.1m | €0.1m | €0.09m | €0.09m | ▼ 4.2% |
| Provisions for liabilities and charges160/5 | - | - | - | - | - | - | €0.09m | - |
| Major repairs and maintenance162 | - | - | - | - | - | - | €0.09m | - |
| Deferred taxes168 | - | - | - | €0.1m | €0.1m | €0.09m | - | - |
| Amounts payable17/49 | €2.6m | €2.4m | €3.4m | €3.5m | €4.3m | €5.3m | €5.6m | ▲ 5.6% |
| Amounts payable after more than one year17 | €1.9m | €1.7m | €2.4m | €2.1m | €2.0m | €1.9m | €1.6m | ▼ 16.1% |
| Financial debts170/4 | - | - | €2.4m | €2.1m | €2.0m | €1.9m | €1.6m | ▼ 16.1% |
| Amounts payable within one year42/48 | €0.7m | €0.7m | €1.0m | €1.4m | €2.3m | €3.3m | €3.9m | ▲ 17.1% |
| Current portion of amounts payable after more than one year42 | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | ▼ 1.0% |
| Financial debts43 | - | - | €0.3m | €0.5m | €0.5m | €1.8m | €2.7m | ▲ 52.0% |
| Credit institutions430/8 | - | - | €0.3m | €0.5m | €0.5m | €1.8m | €2.7m | ▲ 52.0% |
| Trade debts44 | €0.06m | €0.06m | €0.06m | €0.09m | €0.1m | €0.1m | €0.1m | ▲ 9.6% |
| Suppliers440/4 | - | - | €0.06m | €0.09m | €0.1m | €0.1m | €0.1m | ▲ 9.6% |
| Taxes, remuneration and social security45 | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.2m | ▲ 53.2% |
| Taxes450/3 | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.2m | ▲ 57.7% |
| Remuneration and social security454/9 | - | - | €0.008m | €0.008m | €0.01m | €0.02m | €0.03m | ▲ 27.9% |
| Other amounts payable47/48 | - | - | €0.2m | €0.4m | €1.3m | €1.0m | €0.6m | ▼ 41.9% |
| Accrued charges and deferred income492/3 | - | - | €0.009m | €0.02m | €0.03m | €0.1m | €0.1m | ▲ 23.8% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.09m | €0.2m | €0.09m | €0.4m | €0.06m | -€0.004m | €0.2m | - |
| + Depreciation and write-downs630 | €0.4m | €0.06m | €0.2m | €0.2m | €0.2m | €0.2m | €0.1m | ▼ 22.6% |
| Operating cash flow (approximation) | €0.5m | €0.2m | €0.3m | €0.5m | €0.2m | €0.2m | €0.3m | ▲ 76.0% |
| Investment in fixed assets (approximation) | - | €0 | -€1.1m | -€0.5m | -€0.8m | -€0.5m | -€0.07m | ▲ 86.6% |
| Change in cash | - | -€0.01m | -€0.04m | €0.005m | -€0.005m | -€0.003m | -€0.006m | ▼ 104% |
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, 733 companies had the same profile as Multi has now. Two years later, 97.3% were still going and 1.0% had gone bankrupt.
- Medium-sized
- 20 years or older
- solvency 10 to 30%
- a profit under 5% of the balance sheet
Another 0.4% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Multi itself: 0.4% 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 733 companies, not a prediction for Multi. 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 (7)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | abbreviated format | 27-05-2026 | 2026-00122620 | |
| 30-09-2024 | abbreviated format | 31-05-2025 | 2025-00112236 | |
| 30-09-2023 | micro format | 31-05-2024 | 2024-00112813 | |
| 30-09-2022 | micro format | 01-05-2023 | 2023-00081803 | |
| 30-09-2021 | micro format | 31-05-2022 | 2022-20039614 | |
| 30-09-2020 | micro format | 15-07-2021 | 2021-35800153 | |
| 30-09-2019 | micro format | 31-05-2020 | 2020-14900555 |
Timeline
Acts, filings and financial milestones
23-05
Gazette deed
Registered office moved from Aalst to Sint-Agantha-BergemNew seat: Technologiestraat 11B te 1082 Sint-Agantha-Bergem · Previous seat: Beekstraat 11 te 9300 Aalst2 points ▸
- General meeting, 01-04-2024
- Registered-office move, Technologiestraat 11B te 1082 Sint-Agantha-Bergem
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
1 former office
- Beekstraat 11, 9300 Aalst until 01-04-2024 · act of 23-05-2024
Activities
NACEBEL 2025Codes under NACEBEL 2008
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the addresses
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 41304F0069/00E000 | Flanders | 3,543 m² | 1 · 379 m² | 10.1 m · 2 |
| 21003A0335/00V003 | Brussels | 1,438 m² | 1 · 1,458 m² | 13.0 m · 2 |