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Multiply

Active Risk: not assessed
Private limited companyfounded 2018active for 8 yearsDorpsstraat 18, 3550 Heusden-Zolder, BelgiumKBO/BCE: BE 0697.565.404
Summary

Multiply is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €19,572 and a net result of €201,091. Equity is shrinking by about 27% per year across the filed financial years. Its solvency ranks better than 12% of 6,676 sector peers (NACE 64, financial year 2025). The company has been active since 2018 and the Belgian Official Gazette contains no insolvency or warning signals.

Overview

Activity
Activities of holding companies
NACE 64210
1 site
Size
≈ €350,000turnover 2025, estimated
Equity
€19,572
Profit
€201,091
Turnover estimated from the gross margin
Financial health
Financial institution: outside the modelBankruptcy probability: sector outside the model
Structure
2025 accounts 122 days early1 of 3 deeds summarised
Signalsraises riskWeak solvency vs sectorneutralLatest accounts filed on timeShow the evidence

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.
Bankruptcy probability, 12 months

This is a financial institution (bank, insurer or financial holding). A bank balance sheet works differently from that of an ordinary trading or manufacturing company. We therefore show no bankruptcy probability rather than a misleading figure.

Credit check for your own amount and term

Show the recommended maximum and see how the verdict changes with amount, term and advance.

Signals

Two signals.
raises riskneutral
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 12% of 6676 sector peers (2025).
NBB · sector comparison
Position among 6676 sector peers
Solvency
better than 12%
← weakest strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-03-2026, 122 days ahead of the deadline.
NBB · 7 filings
Deviation from the deadline
2025
122 days early
2024
34 days early
2023
33 days early
2022
32 days early
2021
31 days early
2020
13 days late
2019
5 days late
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 7 accounts on average 33 days before the deadline; the sector median (NACE 64) for financial year 2024 is 14 days before the deadline, and 28% of those companies filed late.

Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 29 June (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Where today falls in the filing period
30-10-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
Searched since 2021.
KBO publications · our coverage
  1. Annual accounts filedfinancial year 2025 · abbreviated…
  2. Annual accounts filedfinancial year 2024 · abbreviated…
  3. Highest result from 2019 to 2025net €216,213 ▲15.3%

Financials · financial year 2025, abbreviated format

Equity
€19,572▼ 4.4%
2024 · €20,481
Net result
€201,091▼ 7.0%
2024 · €216,213
Total assets
€252,712▼ 20.1%
2024 · €316,221
Solvency
7.7%▲ 1.3pp
2024 · 6.5%
Trend over the years

2021 to 2025, 5 financial years 2019 to 2025, 7 financial years

The operating result falls in 2025; 2025 is 6% below 2024.

What the company sold each financial year and what was left of it. A loss stands below the zero line.

Operating result€263,297 2025 Net result€201,091 2025

Use the arrow keys on the chart for the figures per year.

Sector: the middle half of NACE 64, Financial service activities, except insurance and pension funding: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).

Every figure with its change against the financial year before
favourable unfavourable
Line2019202020212022202320242025
Operating result€107,227-€51,793▼ 51.7%€130,439▲ 152%€201,050▲ 54.1%€243,971▲ 21.3%€279,009▲ 14.4%€263,297▼ 5.6%
Net result€83,147-€39,668within the sector's middle half▼ 52.3%€100,551within the sector's middle half▲ 153%€154,754within the sector's middle half▲ 53.9%€187,549within the sector's middle half▲ 21.2%€216,213above the sector's middle half▲ 15.3%€201,091above the sector's middle half▼ 7.0%
Equity€95,547-€135,215below the sector's middle half▲ 41.5%€235,766within the sector's middle half▲ 74.4%€40,519below the sector's middle half▼ 82.8%€54,268below the sector's middle half▲ 33.9%€20,481below the sector's middle half▼ 62.3%€19,572below the sector's middle half▼ 4.4%
Total assets€130,722-€199,386below the sector's middle half▲ 52.5%€304,378below the sector's middle half▲ 52.7%€432,759below the sector's middle half▲ 42.2%€271,348below the sector's middle half▼ 37.3%€316,221below the sector's middle half▲ 16.5%€252,712below the sector's middle half▼ 20.1%
Debt€35,175-€64,171▲ 82.4%€68,612▲ 6.9%€392,239▲ 472%€217,079▼ 44.7%€295,739▲ 36.2%€233,140▼ 21.2%
Working capital€86,959-€121,666within the sector's middle half▲ 39.9%€224,213within the sector's middle half▲ 84.3%€40,219within the sector's middle half▼ 82.1%€52,347within the sector's middle half▲ 30.2%€18,155within the sector's middle half▼ 65.3%-€193within the sector's middle half
Solvency73.1%-67.8%within the sector's middle half▼ 5.3pp77.5%above the sector's middle half▲ 9.6pp9.4%below the sector's middle half▼ 68.1pp20.0%below the sector's middle half▲ 10.6pp6.5%below the sector's middle half▼ 13.5pp7.7%below the sector's middle half▲ 1.3pp
Current ratio4.02-3.44above the sector's middle half▼ 0.584.70above the sector's middle half▲ 1.261.10within the sector's middle half▼ 3.601.24within the sector's middle half▲ 0.141.06within the sector's middle half▼ 0.181.00within the sector's middle half▼ 0.06
Return on assets (ROA)63.6%-19.9%above the sector's middle half▼ 43.7pp33.0%above the sector's middle half▲ 13.1pp35.8%above the sector's middle half▲ 2.7pp69.1%above the sector's middle half▲ 33.4pp68.4%above the sector's middle half▼ 0.7pp79.6%above the sector's middle half▲ 11.2pp
above within below the middle half of NACE 64, Financial service activities, except insurance and pension funding: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin 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
Assets €252,712
Fixed assets €19,770 ▲ 670%
Current assets €232,942 ▼ 25.7%
Equity and liabilities €252,712
Equity €19,572 ▼ 4.4%
Debt €233,140 ▼ 21.2%
Debt's share of the balance-sheet total falls from 93.5% to 92.3%. Equity and debt are lower.
Key figures and ratios
2025 value · change against 2024
Debt ≤ 1 year
€233,135▼
2024 · €295,499
Income taxes
€61,707▼
2024 · €66,805
A ratio outside any meaningful range has been withheld (balance sheet total €252,712, equity €19,572).
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 40 lines
Balance sheet Code20242025
Assets
Total assets20/58€316,221€252,712▼
Fixed assets21/28€2,567€19,770▲
Tangible fixed assets22/27€2,567€19,770▲
Furniture and vehicles24€2,567€19,770▲
Current assets29/58€313,654€232,942▼
Amounts receivable within one year40/41€133,144€118,899▼
Trade receivables40€129,908€104,828▼
Other amounts receivable41€3,236€14,071▲
Current investments50/53€149,030€62,621▼
Cash at bank and in hand54/58€29,714€50,499▲
Deferred charges and accrued income490/1€1,766€924▼
Equity and liabilities
Total equity and liabilities10/49€316,221€252,712▼
Equity10/15€20,481€19,572▼
Contributions10/11€18,600€18,600=
Reserves13€1,881€972▼
Distributable reserves133€1,881€972▼
Amounts payable17/49€295,739€233,140▼
Amounts payable within one year42/48€295,499€233,135▼
Trade debts44€1,076€13▼
Suppliers440/4€1,076€13▼
Taxes, remuneration and social security45€81,759€61,422▼
Taxes450/3€81,759€61,422▼
Other amounts payable47/48€212,664€171,700▼
Accrued charges and deferred income492/3€241€4▼
Income statement Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€736€2,492▲
Other operating charges640/8€617€595▼
Gross operating margin9900€280,362€266,384▼
Operating profit (loss)9901€279,009€263,297▼
Financial income75/76B€4,312€841▼
Recurring financial income75€4,312€841▼
Financial charges65/66B€304€1,340▲
Recurring financial charges65€304€1,340▲
Profit (loss) for the period before taxes9903€283,017€262,798▼
Income taxes67/77€66,805€61,707▼
Profit (loss) for the period9904€216,213€201,091▼
Profit (loss) for the period to be appropriated9905€216,213€201,091▼
Appropriation of the result
Profit (loss) to be appropriated9906€216,213€201,091▼
Transfer from equity791/2€33,787€909▼
Profit to be distributed694/7€250,000€202,000▼
Return on contributions (dividend)694€250,000€202,000▼

The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line2019202020212022202320242025Change
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€11,589€7,091€8,843€236€162€736€2,492▲ 239%
Other operating charges640/8--€1,495€788€630€617€595▼ 3.5%
Non-recurring operating charges66A--€139-€340---
Gross operating margin9900€120,181€63,998€140,916€202,074€245,102€280,362€266,384▼ 5.0%
Operating profit (loss)9901€107,227€51,793€130,439€201,050€243,971€279,009€263,297▼ 5.6%
Financial income75/76B--€149€279€2,364€4,312€841▼ 80.5%
Recurring financial income75€17€150€149€279€2,364€4,312€841▼ 80.5%
Financial charges65/66B--€430€317€277€304€1,340▲ 341%
Recurring financial charges65€268€592€430€317€277€304€1,340▲ 341%
Profit (loss) for the period before taxes9903€106,977€51,351€130,157€201,011€246,058€283,017€262,798▼ 7.1%
Income taxes67/77€23,830€11,683€29,607€46,257€58,510€66,805€61,707▼ 7.6%
Profit (loss) for the period9904€83,147€39,668€100,551€154,754€187,549€216,213€201,091▼ 7.0%
Profit (loss) for the period to be appropriated9905€83,147€39,668€100,551€154,754€187,549€216,213€201,091▼ 7.0%
Line2019202020212022202320242025Change
Assets
Total assets20/58€130,722€199,386€304,378€432,759€271,348€316,221€252,712▼ 20.1%
Fixed assets21/28€14,969€27,881€19,607€340€2,064€2,567€19,770▲ 670%
Tangible fixed assets22/27€14,969€27,881€19,607€340€2,064€2,567€19,770▲ 670%
Furniture and vehicles24--€19,607€340€2,064€2,567€19,770▲ 670%
Current assets29/58€115,753€171,505€284,771€432,419€269,284€313,654€232,942▼ 25.7%
Amounts receivable after more than one year29---€50,000----
Other amounts receivable291---€50,000----
Amounts receivable within one year40/41€14,624€12,705€49,610€71,885€91,513€133,144€118,899▼ 10.7%
Trade receivables40--€49,610€64,511€87,725€129,908€104,828▼ 19.3%
Other amounts receivable41---€7,375€3,788€3,236€14,071▲ 335%
Current investments50/53€50,000€50,135€50,238€67,794€62,847€149,030€62,621▼ 58.0%
Cash at bank and in hand54/58€50,081€108,240€183,986€241,771€113,979€29,714€50,499▲ 70.0%
Deferred charges and accrued income490/1--€937€969€945€1,766€924▼ 47.7%
Equity and liabilities
Total equity and liabilities10/49€130,722€199,386€304,378€432,759€271,348€316,221€252,712▼ 20.1%
Equity10/15€95,547€135,215€235,766€40,519€54,268€20,481€19,572▼ 4.4%
Contributions10/11--€12,400€12,400€18,600€18,600€18,600=
Reserves13€83,147€122,815€223,366€28,119€35,668€1,881€972▼ 48.3%
Distributable reserves133--€223,366€28,119€35,668€1,881€972▼ 48.3%
Amounts payable17/49€35,175€64,171€68,612€392,239€217,079€295,739€233,140▼ 21.2%
Amounts payable after more than one year17€6,346€14,237€7,965-----
Financial debts170/4--€7,965-----
Amounts payable within one year42/48€28,794€49,839€60,558€392,201€216,937€295,499€233,135▼ 21.1%
Current portion of amounts payable after more than one year42--€6,271-----
Trade debts44€73€513€15-€162€1,076€13▼ 98.8%
Suppliers440/4--€15-€162€1,076€13▼ 98.8%
Taxes, remuneration and social security45--€53,663€94,701€63,343€81,759€61,422▼ 24.9%
Taxes450/3--€53,663€94,701€63,343€81,759€61,422▼ 24.9%
Other amounts payable47/48--€608€297,500€153,433€212,664€171,700▼ 19.3%
Accrued charges and deferred income492/3--€89€39€142€241€4▼ 98.2%
Line2019202020212022202320242025Change
Profit (loss) for the period9904€83,147€39,668€100,551€154,754€187,549€216,213€201,091▼ 7.0%
+ Depreciation and write-downs630€11,589€7,091€8,843€236€162€736€2,492▲ 239%
Operating cash flow (approximation)€94,736€46,759€109,394€154,990€187,711€216,949€203,583▼ 6.2%
Investment in fixed assets (approximation)--€20,002-€569€19,032-€1,886-€1,239-€19,695▼ 1,490%
Change in cash-€58,159€75,746€57,785-€127,792-€84,266€20,785-

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

Download as CSV

Filings with the National Bank (7)
Financial year Type Filed Reference
31-12-2025 abbreviated format 31-03-2026 2026-00070459
31-12-2024 abbreviated format 27-06-2025 2025-00212206
31-12-2023 abbreviated format 28-06-2024 2024-00192837
31-12-2022 abbreviated format 29-06-2023 2023-00183560
31-12-2021 abbreviated format 30-06-2022 2022-20152898
31-12-2020 abbreviated format 13-08-2021 2021-48400504
31-12-2019 micro format 05-08-2020 2020-39200057

Similar companies · same sector, comparable size

Of the 24,455 active companies whose main activity is activities of holding companies (NACE 64210), figures are known for 20,124. 7,634 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector

Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.

Directors

Directors
no sitting director read yet, last change in 2022
No directors read yet: 1 of 3 Gazette acts processed. See the directors and other office holders in the KBO →

Mandate history

1 person since 2022, 0 in office
Show
  • Board
  • began earlier
Mandates per person, with start and end dates
Name Functions and periods
STEVENS,Tom Pierre Francine
  • Director, until 29-07-2022
See the board, name and registered office on a given date →

Owners and capital

Owners

No owners or capital events in the accounts and acts we read.

History

On 1 June 2018, Multiply was incorporated.1 Total assets went from €130,722 in 2019 to €252,712 in 2025.2

  1. 1KBO register
  2. 2National Bank, annual accounts 2019 and 2025

Acts, filings and financial milestones

Next filing, financial year 2026, expected by 31-07-2027
2026
31-03
NBB filing Annual accounts filed
financial year 2025 · abbreviated format
2025
27-06
NBB filing Annual accounts filed
financial year 2024 · abbreviated format
2024
31-12
Financial Highest result from 2019 to 2025net €216,213 ▲15.3%
Operating result €279,009, net result €216,213, both a record.
28-06
NBB filing Annual accounts filed
financial year 2023 · abbreviated format
2023
29-06
NBB filing Annual accounts filed
financial year 2022 · abbreviated format
2022
03-08
Gazette deed Resignation: STEVENS Tom Pierre Francine (director)
Purpose change · Director discharge5 facts ▸
  • General meeting, 29-07-2022
  • Other provision, 27-07-2022
  • Purpose change
  • Director resignation, STEVENS Tom Pierre Francine (director)
  • Director discharge, STEVENS Tom Pierre Francine
30-06
NBB filing Annual accounts filed
financial year 2021 · abbreviated format
2021
31-12
Financial Equity above €200,000equity €235,766 ▲74.4%
A profit in every financial year since 2019 builds equity to €235,766.
13-08
NBB filing Annual accounts filed
financial year 2020 · abbreviated format · 13 days late
2020
31-12
Financial Weakest financial yearnet €39,668 ▼52.3%
Net result drops to €39,668, the lowest in the series; recovery starts the following year.
31-12
Financial Equity above €100,000equity €135,215 ▲41.5%
A profit in every financial year since 2019 builds equity to €135,215.
05-08
NBB filing Annual accounts filed
financial year 2019 · micro format · 5 days late
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
1 of 3 deeds read
About the unread acts

Of the 3 Belgian Official Gazette deeds we know for this company, 1 has been read. The other 2 have not been read yet: what they contain is neither established nor disproved here.

Have them read with priority Sign in to place this company at the front of the reading queue.

Register details

Identification
Legal formPrivate limited company
Founded01-06-2018
Financial year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID 0208:0697565404
Also 9925:BE0697565404
Registered 21-08-2025

If you follow this company, Checked tells you the day it leaves the Peppol register.

Register as of 30 October 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.

Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.

Sites & property

Location & real-estate footprint
Registered office, Heusden-Zolder · 1 establishment unit since 2018
registered office establishment approximate The establishment unit on the map
Ground area
173 m²
Building footprint
82 m²
Building volume
629 m³
Parcel 71065B0179/00S000, Flanders · tallest building 9.0 m. Linked by address, not a title deed.
1 establishment unit
Multiply
Dorpsstraat 18, 3550 Heusden-ZolderActivities of holding companies
since 2018unit no. 2.276.948.702
1 parcel
Flanders 1 (100%)
Cadastral parcel Region Area Buildings Height / floors
71065B0179/00S000 Flanders 173 m² 1 · 82 m² 9.0 m · 3
How the parcels are linked
Good to know
The parcel matches the address exactly.

Articles of association

PurposeThe activities the company may carry out under its articles.
“De participatie,onder welke vorm het ook zij,in de oprichting,ontwikkeling,commerciële,financiële,industriële of andere,alsook de verwerving…” (deed in Dutch)
20 activities (deed in Dutch)
  1. De participatie,onder welke vorm het ook zij,in de oprichting,ontwikkeling,commerciële,financiële,industriële of andere,alsook de verwerving van eender welke titels of rechten door middel van participatie,inbreng,onderschrijving,koop,aankoopoptie,verhandeling of op iedere andere wijze;
  2. Het verlenen van technische,administratieve,financiële en commerciële bijstand,in de meest ruime zin genomen,aan derden;
  3. Het waarnemen,bekleden en uitoefenen van mandaten en functies van bestuur en/of controle in en over vennootschappen of bedrijven;
  4. Managementactiviteiten van holdings,het tussenkomen in het dagelijks bestuur,het vertegenwoordigen van bedrijven op grond van het bezit of de controle over het maatschappelijk kapitaal en alle andere managementactiviteiten;
  5. Projectontwikkeling voor de nieuwbouw of renovatie van individuele woningen,appartements- en kantoorgebouwen;
  6. Projectontwikkeling voor de bouw of aanleg van commerciële en industriële centra,industriezones en markten,hotels en stadswijken;
  7. Projectontwikkeling voor grond- en ruilverkavelingen;
  8. De handel in eigen onroerende goederen:woningen,appartements- en kantoorgebouwen,industriële gebouwen,gronden en terreinen;
  9. De verhuur van niet-residentiële gebouwen zoals kantoorgebouwen,handelspanden,tentoonstellingsruimtes,enzovoort;
  10. De verhuur van gronden en terreinen,zowel bebouwd als onbebouwd;
  11. De verhuur van garageboxen en staanplaatsen voor auto’s;
  12. De verhuur van al dan niet gemeubelde huizen en appartementen;
  13. De verhuur van appartementen in hotels;
  14. Het bemiddelen bij de aankoop,verkoop en verhuur van onroerende goederen;
  15. Het vormen en beheren van een onroerend en/of roerend patrimonium bestaande uit lichamelijke of onlichamelijke onroerende en/of roerende goederen;
  16. Het huren,verhuren,in erfpacht of gebruik nemen van onroerende en/of roerende goederen en onroerende leasing;
  17. Het verwerven en beheren van onroerende goederen of zakelijke rechten daarop,in België of in het buitenland;
  18. Het optreden als gevolmachtigde van derden;
  19. Het verlenen van borgstellingen in het voordeel van derden;
  20. Het toestaan van leningen en kredietopeningen,onder eender welke vorm,aan derden.

The full purpose is in the deed

Read from the deeds: 1 provision, deed of 03-08-2022