Multi Logistics Group

Summary

Conclusion

the dossier summarised in one paragraph

The computed 12-month bankruptcy probability of Multi Logistics Group is 0.7% (low). The 2025 annual accounts show equity of €22.28M and a net result of €-576k. Equity remains stable across the filed fiscal years (±0.5% per year). Its solvency ranks better than 75% of 61 sector peers (fiscal year 2025). The company has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 3 annual accounts.

Bankruptcy probability (12 mo)

Checked model v1 · free for everyone

0.7% Low

0%0,5%1,5%4%10%≥25%

Young company +Lower-failure-rate sector −Annual accounts: healthy financial profile −

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Signals

1 signal · with evidence

Strong solvency vs sector

Solvency is in the sector's strongest quartile: better than 75% of 61 peers (2025). A comfortable equity buffer.

View the sector comparison

Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.

Filing behaviour

From the deposit records, complete market-wide

Latest accounts filed on time

The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 27-01-2026, 4 days ahead of the deadline. This speaks to administrative punctuality and says nothing about the financial position.

The next deadline is still running

The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.

How we compute the deadline

The year end is derived from 3 filed financial years, each closing on 30-06. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 30-06-2025, that is 31-01-2026.

Deadline per financial year

Year closed	Due by	Filed	Variance	Reference
30-06-2025	31-01-2026	27-01-2026	4 d early	2026-00019210
30-06-2024	31-01-2025	27-03-2025	55 d late	2025-00055781
30-06-2023	31-01-2024	08-12-2023	54 d early	2023-00525606

Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.

Trust signals

2 signals

More than 3 years active

Founded in 2022, past the statistically most fragile first 3 years.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Financials

Turnover€1.42M-6.0%

EBIT margin-13.7%+21.1pp

Net result€-576k

Working capital€-1.70M+40.8%

CSV export

Annual accounts & ratios

Source: NBB · 2025

Annual accounts filed on 27-01-2026 with the NBB · fiscal year 2025 · volledig

RevenueOperating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

stable Equity: stable across 3 fiscal years (±0.5%/year).

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2025 · NACE 82 · compared within the same schema type (full schema)

Metric	This company	Sector median	Position in the sector
Solvency	63.9%	41.5%	better than 75% of 61 sector peers
Net result	€-576k	€28k	better than 5% of 62 sector peers
Equity	€22.28M	€361k	better than 92% of 61 sector peers
Employees (FTE)	3.8	4.9	better than 45% of 30 sector peers
Total assets	€34.86M	€922k	better than 90% of 62 sector peers

Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.

Sector position over time

Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).

Solvency P75

Stable position over 2023-2025 · n=61-197

Net result P5

Weakening position over 2023-2025 · n=62-197

Equity P92

Stable position over 2023-2025 · n=61-197

Employees (FTE) P45

Improving position over 2023-2025 · n=30-87

Describes the position versus peers, not a forecast.

Revenue

€1.42M

-6.0% 23-25

EBITDA

€-187k

+64.0% 23-25

Net profit

€-576k

- 23-25

Cash flow

€-569k

- 23-25

Total assets

€34.86M

+2.7% 23-25

Equity

€22.28M

-2.5% 23-25

Working capital

€-1.70M

+40.8% 23-25

Employees (FTE)

4

-5.0% 23-25

Staff costs

€436k

-4.7% 23-25

Income taxes

€1k

+277.5% 23-25

Debt

€12.58M

+13.4% 23-25

Debt ≤ 1y

€9.17M

+36.2% 23-25

Debt > 1y

€3.36M

-22.4% 23-25

Current ratio

0.81

+42.1% 23-25

Quick ratio

0.81

+42.1% 23-25

Solvency

63.9%

-5.1% 23-25

Debt / equity

0.56

+16.3% 23-25

ROE

-2.6%

- 23-25

ROA

-1.7%

- 23-25

Net margin

-40.7%

- 23-25

EBITDA margin

-13.2%

+61.7% 23-25

Interest coverage

-0.31

+68.4% 23-25

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2025
Deposit	volledig
Revenue	€1.42M
EBITDA	€-187k
Net profit	€-576k
Cash flow	€-569k
Staff costs	€436k
Income taxes	€1k
Dividends	-
Total assets	€34.86M
Equity	€22.28M
Debt	€12.58M
of which ≤ 1y	€9.17M
of which > 1y	€3.36M
Working capital	€-1.70M
Employees (FTE)	3.8

Ratios (computed)

	2025
Current ratio	0.81
Quick ratio	0.81
Working capital ratio	-4.9%
Solvency	63.9%
Debt / equity	0.56
Long-term debt ratio	0.15
Interest coverage	-0.31
Gross margin	-
Net margin	-40.7%
ROA	-1.7%
ROE	-2.6%
EBITDA margin	-13.2%
Days sales outstanding	396d
Days payable outstanding	-
Inventory turnover	-
Days inventory (DSI)	-

Balance-sheet composition 2025

Assets

Fixed assets €27.39M · 78.6% Current assets €7.47M · 21.4%

Equity & liabilities

Equity €22.28M · 63.9% Debt €12.58M · 36.1%

Full annual accounts

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2025
Balance sheet, Assets
TOTAL ASSETS	20/58	€34.86M
Fixed assets	21/28	€27.39M
Intangible fixed assets	21	€9k
Tangible fixed assets	22/27	€19k
Financial fixed assets	28	€27.36M
Current assets	29/58	€7.47M
Amounts receivable within one year	40/41	€6.11M
Cash & bank	54/58	€1.33M
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€34.86M
Equity	10/15	€22.28M
Contributions / capital	10/11	€22.00M
Reserves	13	€279k
Amounts payable	17/49	€12.58M
Amounts payable after one year	17	€3.36M
Amounts payable within one year	42/48	€9.17M
Trade debts payable within one year	44	€230k
Income statement
Turnover	70	€1.42M
Operating result	9901	€-194k
Financial income	75	€226k
Financial charges	65	€608k
Result before taxes	9903	€-575k
Income taxes	67/77	€1k
Net result for the period	9904	€-576k
Result to be appropriated	9905	€-576k

You're seeing the latest fiscal year only. Unlock 2 prior years (figures + ratios) with a paid plan. See plans →

Ratios computed by Checked.

Health barometer

FY 2025 · computed

17 / 100 Critical

050100

Computed from 6 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

Unlock the full score breakdown, per-year score history and the indicative credit limit from Kantoor S.

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Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.

Directors

Directors & mandates

5 directors

Current directors & mandates

ArtasLegal entity
Director· perm. rep.: Martijn Wanten
State Gazette act 25159242 (17-12-2025)

Current
19-09-2025 → present
HascoLegal entity
Director· perm. rep.: Francis Wanten
State Gazette act 24160810 (12-11-2024)

Current
19-06-2024 → present
ObelixLegal entity
Director· perm. rep.: Eric Noterman
State Gazette act 24075431 (15-05-2024)

Current
29-12-2023 → present

Former directors (2)

BFELIXLegal entity
Director· perm. rep.: Johannes Lagasse de Locht
State Gazette act 25159242 (17-12-2025)

Former
- → 19-09-2025
Francis Wanten
Director
State Gazette act 24160810 (12-11-2024)

Former
- → 19-06-2024

Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.

Statutory auditor

1 auditor

Statutory auditor	IRE/IBR number	Tenure
HLB Dodémont - Van Impe & C°Current Statutory auditor · represented by Patrick van Impe	-	01-07-2025 → present

Appointed statutory auditor from the Belgian State Gazette. The IRE/IBR number refers to the register of the Institute of Registered Auditors.

Insolvency mandates

No insolvency mandates (liquidators, administrators) on record for this company.

Legal Structure

NACE primary	Overige zakelijke dienstverlening, neg(82990)
Legal form	Private limited company(610)
Incorporation	29-06-2022
Status	Active
Postal code	3500

Structure & network

Connections & network

24 connected companies

Group structureShared directors

Group structure

Artas

Sits on the board · 16 subsidiaries · 1 location

Control→

Hasco

Sits on the board · 3 subsidiaries · 2 locations

Control→

Obelix

Sits on the board · 1 subsidiary · 1 location

Control→

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