MULTITUBES BELGIUM
ActiveSummary
MULTITUBES BELGIUM has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €4.2m and a net result of €106,516. Equity is growing by ~29.6% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability65▲+2
Solvency55▲+3
Growth53▲+1
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €260,000 at 30 days acceptable
Liquidity tight (current ratio 1.13 against 0.98 in 2024; short-term debt: 23.5% and cash: 3% of total assets), and 69.9% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 22
Relative position
BE, all sectors
reference
Manufacture of rubber and plastic products (NACE 22)
about 50% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
30.1%
Return on assets
0.8%
Age of the figures
9 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
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 09-06-2026, 52 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
52 d early
2024
21 d early
2023
33 d early
2022
54 d early
2021
12 d early
2020
171 d early
2019
53 d early
← 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 57 days before the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 34% of the sector filed late.
Checked, nothing found (2)
neutral · 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. Usually files around 29 June (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
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Financials · fiscal year 2025, unclassified schema
In the rankings
#2 fastest grower in Chimay#3 employer in Hainaut, Rubber and plastics sector#5 company by total assets in Chimay
Turnover
€14.3m▲ 6.1%
2024 · €13.5m
EBIT margin
3.1%▼ 0.1pp
2024 · 3.2%
Net result
€106,516▼ 56.3%
2024 · €243,935
Working capital
€420,103
2024 · -€86,716
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 22, Manufacture of rubber and plastic products, 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
Line20212022202320242025
Turnover€13.5m€14.3m▲ 6.1%
Operating result€7,209▼ 99.4%€348,475▲ 4,734%€112,189▼ 67.8%€429,622▲ 283%€444,828▲ 3.5%
Net result-€98,107below the sector's middle half€182,511within the sector's middle half€13,689within the sector's middle half▼ 92.5%€243,935▲ 1,682%€106,516▼ 56.3%
EBIT margin3.2%3.1%▼ 0.1pp
Equity€1.6mwithin the sector's middle half▼ 5.6%€1.8mwithin the sector's middle half▲ 11.1%€3.2mwithin the sector's middle half▲ 77.0%€3.5m▲ 7.5%€4.2m▲ 19.5%
Total assets€7.3mwithin the sector's middle half▲ 8.9%€7.0mwithin the sector's middle half▼ 4.4%€7.7mwithin the sector's middle half▲ 9.9%€13.1m▲ 70.4%€13.8m▲ 5.6%
Debt€5.7m▲ 14.0%€5.2m▼ 8.9%€4.4m▼ 13.9%€9.6m▲ 116%€9.7m▲ 0.5%
Working capital€1.1mwithin the sector's middle half▲ 638%€873,596within the sector's middle half▼ 18.6%€393,328within the sector's middle half▼ 55.0%-€86,716€420,103
Solvency22.5%below the sector's middle half▼ 3.5pp26.1%within the sector's middle half▲ 3.6pp42.1%within the sector's middle half▲ 16.0pp26.6%▼ 15.5pp30.1%▲ 3.5pp
Current ratio1.36within the sector's middle half▲ 0.321.30within the sector's middle half▼ 0.061.10below the sector's middle half▼ 0.200.98▼ 0.121.13▲ 0.15
Return on assets (ROA)-1.3%below the sector's middle half▼ 15.9pp2.6%within the sector's middle half▲ 4.0pp0.2%within the sector's middle half▼ 2.4pp1.9%▲ 1.7pp0.8%▼ 1.1pp
Staff (FTE)49.1within the sector's middle half▲ 4.2%51.2within the sector's middle half▲ 4.3%62.9within the sector's middle half▲ 22.9%74.7▲ 18.8%76.8▲ 2.8%
above
within
below
the middle half (P25 to P75) of NACE 22, Manufacture of rubber and plastic products, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 4% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €13.8m
Fixed assets
€10.2m ▲ 4.7%
Current assets
€3.7m ▲ 8.1%
Equity and liabilities €13.8m
Equity
€4.2m ▲ 19.5%
Debt
€9.7m ▲ 0.5%
Debt's share of the balance-sheet total falls from 73.4% to 69.9%. Equity and debt are higher.
Key figures and ratios
EBITDA
€1.6m▲
2024 · €920,775
Cash flow
€1.3m▲
2024 · €735,088
Quick ratio
0.43▲
2024 · 0.28
Debt to equity
2.32▼
2024 · 2.76
ROE
2.6%▼
2024 · 7.0%
Interest coverage
5.33▼
2024 · 15.47
Debt ≤ 1 year
€3.2m▼
2024 · €3.5m
Debt > 1 year
€6.4m▲
2024 · €6.1m
Income taxes
€78,798▼
2024 · €109,534
Staff costs
€4.6m▲
2024 · €4.2m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 542 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 93% are still going.
- Medium-sized
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
0.2%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 0.7% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 542 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €13.8m | €15.0m | ▲ 9.0% |
| Turnover70 | - | - | - | €13.5m | €14.3m | ▲ 6.1% |
| Own construction capitalised72 | - | - | - | - | €270,756 | - |
| Other operating income74 | - | - | - | €279,871 | €427,487 | ▲ 52.7% |
| Non-recurring operating income76A | - | - | €767,277 | €0 | - | - |
| Operating charges60/66A | - | - | - | €13.4m | €14.6m | ▲ 9.1% |
| Goods for resale, raw materials and consumables60 | - | - | - | €5.4m | €5.6m | ▲ 3.3% |
| Purchases600/8 | - | - | - | €5.3m | €5.4m | ▲ 2.3% |
| Change in stocks: decrease (increase)609 | - | - | - | €109,637 | €168,562 | ▲ 53.7% |
| Services and other goods61 | - | - | - | €3.1m | €3.1m | ▲ 0.7% |
| Remuneration, social security and pensions62 | €2.4m | €2.7m | €3.5m | €4.2m | €4.6m | ▲ 11.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €355,450 | €406,287 | €440,974 | €491,153 | €1.2m | ▲ 142% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €39,487 | €71,312 | €110,386 | €97,066 | -€20,037 | ▼ 121% |
| Other operating charges640/8 | €31,668 | €22,086 | €41,949 | €72,947 | €47,496 | ▼ 34.9% |
| Non-recurring operating charges66A | - | - | €260,365 | €0 | €1,200 | ▲ 1,999,900% |
| Gross operating margin9900 | €2.8m | €3.5m | €4.5m | - | - | - |
| Operating profit (loss)9901 | €7,209 | €348,475 | €112,189 | €429,622 | €444,828 | ▲ 3.5% |
| Financial income75/76B | €0 | €0 | - | - | €62,960 | - |
| Recurring financial income75 | €0 | €0 | - | - | €62,960 | - |
| Other financial income752/9 | - | - | - | - | €62,960 | - |
| Financial charges65/66B | €100,972 | €88,705 | €67,546 | €76,153 | €322,474 | ▲ 323% |
| Recurring financial charges65 | €100,972 | €88,705 | €67,546 | €76,153 | €322,474 | ▲ 323% |
| Debt charges650 | - | - | - | €59,504 | €306,657 | ▲ 415% |
| Other financial charges652/9 | - | - | - | €16,648 | €15,817 | ▼ 5.0% |
| Profit (loss) for the period before taxes9903 | -€93,763 | €259,771 | €44,643 | €353,469 | €185,314 | ▼ 47.6% |
| Income taxes67/77 | €4,344 | €77,260 | €30,955 | €109,534 | €78,798 | ▼ 28.1% |
| Taxes670/3 | - | - | - | €109,534 | €78,798 | ▼ 28.1% |
| Profit (loss) for the period9904 | -€98,107 | €182,511 | €13,689 | €243,935 | €106,516 | ▼ 56.3% |
| Profit (loss) for the period to be appropriated9905 | -€98,107 | €182,511 | €13,689 | €243,935 | €106,516 | ▼ 56.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €7.3m | €7.0m | €7.7m | €13.1m | €13.8m | ▲ 5.6% |
| Fixed assets21/28 | €3.3m | €3.2m | €3.2m | €9.7m | €10.2m | ▲ 4.7% |
| Intangible fixed assets21 | €3,250 | €2,250 | €1,250 | €250 | €0 | ▼ 100% |
| Tangible fixed assets22/27 | €3.3m | €3.2m | €3.2m | €9.7m | €10.2m | ▲ 4.7% |
| Land and buildings22 | - | €4,158 | €3,965 | €3,773 | €3,580 | ▼ 5.1% |
| Plant, machinery and equipment23 | €860,774 | €969,882 | €992,081 | €8.1m | €8.8m | ▲ 8.7% |
| Furniture and vehicles24 | €8,085 | €20,679 | €54,120 | €80,409 | €60,562 | ▼ 24.7% |
| Leasing and similar rights25 | €2.0m | €1.9m | €1.6m | €1.0m | €640,224 | ▼ 36.3% |
| Other tangible fixed assets26 | €308,730 | €302,487 | €473,344 | €496,610 | €629,912 | ▲ 26.8% |
| Assets under construction and advance payments27 | €132,300 | €0 | - | - | - | - |
| Financial fixed assets28 | €423 | €423 | €0 | - | - | - |
| Current assets29/58 | €4.0m | €3.8m | €4.5m | €3.4m | €3.7m | ▲ 8.1% |
| Stocks and contracts in progress3 | €2.9m | €2.6m | €2.6m | €2.4m | €2.3m | ▼ 6.1% |
| Stocks30/36 | €2.9m | €2.6m | €2.6m | €2.4m | €2.3m | ▼ 6.1% |
| Raw materials and consumables30/31 | - | - | - | €1.0m | €883,527 | ▼ 12.4% |
| Finished goods33 | - | - | - | €1.1m | €1.1m | ▼ 2.0% |
| Goods purchased for resale34 | - | - | - | €314,164 | €312,585 | ▼ 0.5% |
| Amounts receivable within one year40/41 | €1.0m | €1.0m | €1.3m | €535,402 | €887,929 | ▲ 65.8% |
| Trade receivables40 | €701,412 | €931,962 | €776,738 | €461,116 | €709,569 | ▲ 53.9% |
| Other amounts receivable41 | €321,038 | €70,357 | €502,655 | €74,286 | €178,361 | ▲ 140% |
| Cash at bank and in hand54/58 | €95,213 | €133,069 | €535,319 | €349,743 | €419,395 | ▲ 19.9% |
| Deferred charges and accrued income490/1 | €20,478 | €69,473 | €72,378 | €78,429 | €79,446 | ▲ 1.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €7.3m | €7.0m | €7.7m | €13.1m | €13.8m | ▲ 5.6% |
| Equity10/15 | €1.6m | €1.8m | €3.2m | €3.5m | €4.2m | ▲ 19.5% |
| Contributions10/11 | €6,200 | €6,200 | €1.4m | €1.4m | €1.4m | = |
| Reserves13 | €1.6m | €1.8m | €1.8m | €2.1m | €2.2m | ▲ 5.1% |
| Non-distributable reserves130/1 | €0 | - | - | - | - | - |
| Reserves not available under the articles1311 | €0 | - | - | - | - | - |
| Tax-exempt reserves132 | €18,750 | €18,750 | €18,750 | €18,750 | €18,750 | = |
| Distributable reserves133 | €1.6m | €1.8m | €1.8m | €2.1m | €2.2m | ▲ 5.2% |
| Investment grants15 | - | - | - | - | €573,040 | - |
| Amounts payable17/49 | €5.7m | €5.2m | €4.4m | €9.6m | €9.7m | ▲ 0.5% |
| Amounts payable after more than one year17 | €2.7m | €2.2m | €321,179 | €6.1m | €6.4m | ▲ 4.6% |
| Financial debts170/4 | €2.7m | €2.2m | €321,179 | €6.1m | €6.4m | ▲ 4.6% |
| Leasing and similar obligations172 | - | - | - | €74,219 | €59,921 | ▼ 19.3% |
| Credit institutions173 | - | - | - | - | €318,686 | - |
| Other loans174 | - | - | - | €6.1m | €6.0m | ▼ 0.4% |
| Amounts payable within one year42/48 | €3.0m | €2.9m | €4.1m | €3.5m | €3.2m | ▼ 6.7% |
| Current portion of amounts payable after more than one year42 | €514,271 | €660,708 | €455,516 | €272,128 | €68,253 | ▼ 74.9% |
| Financial debts43 | €616,479 | €687,721 | €976,160 | €896,115 | €1.0m | ▲ 12.9% |
| Credit institutions430/8 | €616,479 | €687,721 | €976,160 | €896,115 | €1.0m | ▲ 12.9% |
| Trade debts44 | €1.1m | €763,169 | €1.2m | €765,424 | €943,696 | ▲ 23.3% |
| Suppliers440/4 | €1.1m | €763,169 | €1.2m | €765,424 | €943,696 | ▲ 23.3% |
| Taxes, remuneration and social security45 | €311,261 | €495,786 | €611,103 | €477,307 | €649,810 | ▲ 36.1% |
| Taxes450/3 | €55,238 | €65,341 | €8,398 | €8,787 | €89,293 | ▲ 916% |
| Remuneration and social security454/9 | €256,023 | €430,445 | €602,705 | €468,520 | €560,517 | ▲ 19.6% |
| Other amounts payable47/48 | €410,636 | €324,996 | €877,958 | €1.1m | €572,300 | ▼ 46.3% |
| Accrued charges and deferred income492/3 | - | €9,813 | €0 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€98,107 | €182,511 | €13,689 | €243,935 | €106,516 | ▼ 56.3% |
| + Depreciation and write-downs630 | €355,450 | €406,287 | €440,974 | €491,153 | €1.2m | ▲ 142% |
| Operating cash flow (approximation) | €257,343 | €588,798 | €454,663 | €735,088 | €1.3m | ▲ 76.1% |
| Investment in fixed assets (approximation) | - | -€323,608 | -€417,230 | -€7.0m | -€1.6m | ▲ 76.7% |
| Change in cash | - | €37,856 | €402,251 | -€185,577 | €69,652 | ▲ 138% |
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
Next filing, fiscal year 2026, expected by
2026
09-06
NBB filing
Annual accounts filed
fiscal year 2025 · unclassified schema
08-06
State Gazette act
Permanent representatives: Albert Rensen and Rob RensenDeclaration5 facts ▸
State Gazette act
Permanent representatives: Albert Rensen and Rob Rensen
Declaration5 facts ▸
- General meeting, 23-03-2026
- Permanent representative, Albert Rensen (permanent representative)
- Permanent representative, Rob Rensen (permanent representative)
- Declaration, acceptation du mandat
- Other statement, 01-01-2026, ratification des actes accomplis
2025
10-07
NBB filing
Annual accounts filed
fiscal year 2024 · unclassified schema
2024
28-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Equity above €2mEq €3.2m ▲77%
2 profitable years in a row build equity to €3.2m.
07-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Back to profitnet €182,511
Net result €182,511 after one loss-making year.
19-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Weakest financial yearnet -€98,107
Net result drops to -€98,107, the lowest in the series; recovery starts the following year.
10-02
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Highest result since 2018net €980,574 ▲156%
Operating result €1.2m, net result €980,574, both a record.
31-12
Financial
Equity above €1mEq €1.7m ▲128%
3 profitable years in a row build equity to €1.7m.
Show earlier events
08-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Equity above €500,000Eq €763,350 ▲101%
2 profitable years in a row build equity to €763,350.
29-04
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
14-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
17-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 10 acts read
About the unread acts
Of the 10 Belgian State Gazette acts we know for this company, 1 has been read. The other 9 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
10 acts for this company are in the Belgian State Gazette, of which we have read 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Chimay · 1 establishment unit since 2015
Ground area
4.8 ha
Building footprint
494 m²
Volume, LiDAR
3,153 m³
Parcel 56016B0291/00N000, Wallonia · tallest building 7.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Multitubes
since 20152.241.239.537
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 56016B0291/00N000 | Wallonia | 4.8 ha | 1 · 494 m² | 7.0 m · 2 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.
Articles of association
Who signs
Each director alone
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Of 371 companies in sector 22210 we hold annual accounts for 294. 160 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
Founded26-03-2015
Fiscal year end31-12
Activities, NACEBEL 2025
22210Manufacture of rubber and plastic products
22220Manufacture of rubber and plastic products
E-invoicing
Reachable via Peppol
Peppol ID
0208:0627617318
Also
9925:BE0627617318
Registered
31-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.