MULTRONIC
ActiveSummary
MULTRONIC has been active since 1981 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €8.3m and a net result of €4.0m. Equity has been growing by about 33% per year since 2018. Its solvency ranks better than 81% of 6,178 sector peers (NACE 46, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 13-10-1981 Normal situation
- Activity
- Agents in the wholesale of industrial machinery, ships and aircraft NACE 46140and 5 others
- Joint committees
- 149 Paritair Comité voor de sectors die aan de metaal-, machine- en elektrische bouw verwant zijn
- 200 Aanvullend Paritair Comité voor de bedienden · annual accounts 2025
- Establishment unit
- 2.157.694.724 3300 Tienen, since 01-12-2006
- Financial year end
- 31 December
- Peppol
- Reachable since 30-09-2025
Board and ownership
Board
- PAUTASSO SilvanoDirector
- Daan van de PASDirector
- Holdings
- Shares in 2 companies Diesel Emission Control and VAAR SYSTEMS
Financial position
- Bankruptcy probabilitywithin 12 months
- < 0.1%
Annual accounts 2025
- Turnover
- €11.5m
- Profit
- €4.0m
- ▲ 104%
- Equity
- €8.3m
- ▲ 57.2%
- Total assets
- €11.0m
- ▲ 31.5%
- Employees on 31-12-2025
- 16
- ▲ 23.1%
- 2025 accounts filed 28 days after the deadline
Net result +104%: other schema
Score breakdownlowers riskLiquidity: current ratio 5.50, cash €3.4mFounded in 1981Equity €8.3m (75.0% of total assets)Profit of €4.0m (financial year 2025)Show the evidence
Checked score
Score 2025
99
/ 100
Excellent
Probability in this band: under 0.55%
Financially stronger than 93% of small companies in wholesale trade (NACE 46)
Financial strength · tick: 2024
Strong
Solvency
100+12
equity 75.0% of total assets
Liquidity
87+21
short-term debt 12.8% · cash 31.3%
Profitability
100+2
return on assets 36.3%
Bankruptcy probability within 12 months
< 0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: < 0.1%
01-2025: < 0.1%● unchanged vs 12-2024
02-2025: < 0.1%● unchanged vs 01-2025
03-2025: < 0.1%● unchanged vs 02-2025
04-2025: < 0.1%● unchanged vs 03-2025
05-2025: < 0.1%● unchanged vs 04-2025
06-2025: < 0.1%● unchanged vs 05-2025
07-2025: 0.1%▲ +0.1 percentage points vs 06-2025highest value
08-2025: < 0.1%▼ -0.1 percentage points vs 07-2025
09-2025: < 0.1%● unchanged vs 08-2025
10-2025: < 0.1%● unchanged vs 09-2025
11-2025: < 0.1%● unchanged vs 10-2025
12-2025: < 0.1%● unchanged vs 11-2025
01-2026: < 0.1%● unchanged vs 12-2025
02-2026: < 0.1%● unchanged vs 01-2026
03-2026: < 0.1%● unchanged vs 02-2026
04-2026: < 0.1%● unchanged vs 03-2026
05-2026: < 0.1%● unchanged vs 04-2026
06-2026: < 0.1%● unchanged vs 05-2026
07-2026: < 0.1%● unchanged vs 06-2026
08-2026: < 0.1%● unchanged vs 07-2026
09-2026: < 0.1%● unchanged vs 08-2026lowest value
10-2026: < 0.1%● unchanged vs 09-2026lowest value
11-2026: < 0.1%● unchanged vs 10-2026lowest value
Credit of up to €800,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 5.5 (3.19 in 2024), above the usual 1.5. Short-term debt is 12.8% and cash 31.3% of total assets. 25% of the assets are financed with debt and provisions.
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 46, small). It does better than 83% of them on solvency, 95% on liquidity, 99% on profitability and 93% 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
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
Five signals.
lowers riskraises risk
raises risk · 2025 accounts filed 28 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filingsDeviation from the deadline
2025
28 days late
2024
2 days early
2023
36 days early
2022
31 days late
2021
34 days early
2020
33 days early
2019
50 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 14 days before the deadline. In the sector (NACE 46), the median for financial year 2024 was 3 days before the deadline, and 39% 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 July (5 of the last 5 accounts filed within 33 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
05-11-2026 today31-12-2026 year end31-07-2027 deadline
Financials
Financials · financial year 2025, full format
2025 annual accounts filed 28 days after the deadline Filed on 28 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00446537.
Annual accounts 2025 filed on 28-08-2026 at the NBB all 43 filings
Turnover
€11.5m
EBIT margin
22.9%
Net result
€4.0m▲ 104%
2024 · €2.0m
Working capital
€6.3m▲ 61.0%
2024 · €3.9m
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
€11.5m
2025
20182025
Operating result
€2.6m
▼ 1.1%
2025
20182025
Net result
€4.0m
▲ 104%
2025
highest quarter of the sector
20182025
EBIT margin
22.9%
2025
20182025
Equity
€8.3m
▲ 57.2%
2025
highest quarter of the sector
20182025
Total assets
€11.0m
▲ 31.5%
2025
middle half of the sector
20182025
Debt
€1.5m
▼ 20.9%
2025
20182025
Working capital
€6.3m
▲ 61.0%
2025
highest quarter of the sector
20182025
Solvency
75.0%
▲ 12.3pp
2025
highest quarter of the sector
20182025
Current ratio
5.50
▲ 2.32
2025
highest quarter of the sector
20182025
Return on assets (ROA)
36.3%
▲ 12.9pp
2025
highest quarter of the sector
20182025
Staff (FTE)
13.8
▲ 3.0%
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€11.5m
Operating result€0.1m-€0.1m▲ 5.1%€0.2m▲ 78.3%€0.5m▲ 161%€0.6m▲ 19.0%€2.2m▲ 277%€2.7m▲ 20.5%€2.6m▼ 1.1%
Net result€0.05m-€0.06m▲ 14.2%€0.1mwithin the sector's middle half▲ 112%€0.3mabove the sector's middle half▲ 166%€0.4mabove the sector's middle half▲ 29.1%€1.6mabove the sector's middle half▲ 296%€2.0mabove the sector's middle half▲ 21.7%€4.0mabove the sector's middle half▲ 104%
EBIT margin22.9%
Equity€1.1m-€1.2m▲ 4.9%€1.3mabove the sector's middle half▲ 9.9%€1.6mabove the sector's middle half▲ 23.9%€3.7mabove the sector's middle half▲ 125%€3.3mabove the sector's middle half▼ 10.5%€5.3mabove the sector's middle half▲ 59.7%€8.3mabove the sector's middle half▲ 57.2%
Total assets€3.2m-€2.8m▼ 13.1%€3.0mabove the sector's middle half▲ 7.6%€3.6mabove the sector's middle half▲ 18.4%€6.2mabove the sector's middle half▲ 74.6%€7.2mabove the sector's middle half▲ 15.8%€8.4mabove the sector's middle half▲ 16.8%€11.0mwithin the sector's middle half▲ 31.5%
Debt€2.1m-€1.6m▼ 23.1%€1.7m▲ 6.0%€1.9m▲ 14.2%€2.4m▲ 24.9%€3.4m▲ 40.7%€1.8m▼ 45.3%€1.5m▼ 20.9%
Working capital€1.3m-€1.3m▲ 4.8%€1.4mabove the sector's middle half▲ 6.3%€1.7mabove the sector's middle half▲ 21.6%€1.8mabove the sector's middle half▲ 8.3%€1.6mabove the sector's middle half▼ 15.5%€3.9mabove the sector's middle half▲ 154%€6.3mabove the sector's middle half▲ 61.0%
Solvency35.8%-43.2%▲ 7.4pp44.1%within the sector's middle half▲ 0.9pp46.1%within the sector's middle half▲ 2.0pp59.3%within the sector's middle half▲ 13.2pp45.9%within the sector's middle half▼ 13.5pp62.7%within the sector's middle half▲ 16.8pp75.0%above the sector's middle half▲ 12.3pp
Current ratio1.91-2.36▲ 0.452.26within the sector's middle half▼ 0.102.32within the sector's middle half▲ 0.061.94within the sector's middle half▼ 0.381.48within the sector's middle half▼ 0.463.19within the sector's middle half▲ 1.715.50above the sector's middle half▲ 2.32
Return on assets (ROA)1.5%-2.0%▲ 0.5pp4.0%within the sector's middle half▲ 1.9pp8.9%within the sector's middle half▲ 4.9pp6.6%within the sector's middle half▼ 2.3pp22.5%above the sector's middle half▲ 15.9pp23.4%above the sector's middle half▲ 1.0pp36.3%above the sector's middle half▲ 12.9pp
Staff (FTE)11.1-10.6▼ 4.5%11.6above the sector's middle half▲ 9.4%11.7above the sector's middle half▲ 0.9%15.1above the sector's middle half▲ 29.1%14.4above the sector's middle half▼ 4.6%13.4above the sector's middle half▼ 6.9%13.8within the sector's middle half▲ 3.0%
above
within
below
The sector band is the middle half of the companies in Wholesale trade (NACE 46). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 1% lower than in 2024.
Large changes and their cause
- 2025 Net result +104% on 2024. The accounts now follow the full format, last year the abbreviated format.
- 2023 Net result +296% on 2022. Partial demerger to MULTRONIC IMMO, Official Gazette 07-11-2022, in the previous financial year. That operation now counts for a full year for the first time.
- 2022 Equity +125% on 2021. Partial demerger to MULTRONIC IMMO, Official Gazette 07-11-2022.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €11.0m
Fixed assets
€3.3m ▲ 23.7%
Current assets
€7.8m ▲ 35.1%
Equity and liabilities €11.0m
Equity
€8.3m ▲ 57.2%
Provisions
€1.3m ▲ 1.3%
Debt
€1.5m ▼ 20.9%
Debt's share of the balance-sheet total falls from 21.9% to 13.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€2.8m▲
2024 · €2.8m
Cash flow
€4.2m▲
2024 · €2.1m
Quick ratio
3.94▲
2024 · 2.17
Debt to equity
0.18▼
2024 · 0.35
ROE
48.5%▲
2024 · 37.4%
Interest coverage
over 100▲
2024 · 96.03
Debt ≤ 1 year
€1.4m▼
2024 · €1.8m
Debt > 1 year
€47,177▲
2024 · €39,765
Income taxes
€688,929=
2024 · €688,680
Customer credit
33 days
Supplier credit
42 days
Staff costs
€1.3m▲
2024 · €1.1m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 12 | 16 | 13 | 13 | 16 |
| full-time | 11 | 16 | 12 | 12 | 14 |
| part-time | 1 | - | 1 | 1 | 2 |
| in full-time equivalents | 11.8 | 16 | 12.5 | 12.5 | 15.3 |
| Average over the year, in full-time equivalents | 11.7 | 15.1 | 14.4 | 13.4 | 13.8 |
| On a permanent contract | 11 | 16 | 13 | 13 | 16 |
| Joined | 1 | 9 | 0 | 3 | 8 |
| Left | 2 | 5 | 3 | 3 | 5 |
| Agency workers, average number | - | - | - | - | 0.1 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €504,001 | €545,243 | €207,077 | €104,213 | - |
| Mortgages, amount registered | €50,000 | - | - | - | - |
| Mortgage mandates | €430,000 | - | - | - | - |
| Carrying value of the mortgaged assets | €373,360 | - | - | - | - |
| Pledge on the business | €581,762 | €581,762 | - | €581,762 | - |
| Mandates to pledge the business | €580,000 | €580,000 | - | €580,000 | - |
| Carrying value of the other pledged assets | €72,900 | €140,525 | €93,926 | €60,026 | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €139,315 | €232,377 | €99,133 | €59,548 | €575,047 |
| Intangible fixed assets | €50,000 | - | - | - | - |
| Financial fixed assets | - | €2.1m | - | €300,480 | - |
| Depreciation and write-downs of the year | €118,248 | €130,208 | €107,634 | €114,147 | €148,220 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2025 · 1 entry · €381 awarded · €381 paidEuropean research
1 project · €636,600 EU contributionProgrammes
Projects
Promoting Innovation in the Inland Waterways Transport Sector
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | - | - | - | - | €11.6m | - |
| Turnover70 | - | - | - | - | - | - | - | €11.5m | - |
| Other operating income74 | - | - | - | - | - | - | - | €0.08m | - |
| Non-recurring operating income76A | - | - | - | - | €0.003m | €0.005m | €0.003m | €0.02m | ▲ 508% |
| Operating charges60/66A | - | - | - | - | - | - | - | €9.0m | - |
| Goods for resale, raw materials and consumables60 | - | - | - | - | - | - | - | €5.1m | - |
| Purchases600/8 | - | - | - | - | - | - | - | €5.5m | - |
| Change in stocks: decrease (increase)609 | - | - | - | - | - | - | - | -€0.4m | - |
| Services and other goods61 | - | - | - | - | - | - | - | €2.4m | - |
| Remuneration, social security and pensions62 | - | - | - | €0.8m | €1.1m | €1.2m | €1.1m | €1.3m | ▲ 19.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.1m | €0.1m | €0.09m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | ▲ 29.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | -€0.08m | - | - | - | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | - | €0.1m | €0.4m | €0.8m | €0.02m | ▼ 97.8% |
| Other operating charges640/8 | - | - | - | €0.01m | €0.02m | €0.01m | €0.01m | €0.01m | ▲ 4.7% |
| Non-recurring operating charges66A | - | - | - | - | - | - | - | €0.006m | - |
| Gross operating margin9900 | €1.2m | €1.0m | €1.2m | €1.5m | €1.9m | €3.9m | €4.7m | - | - |
| Operating profit (loss)9901 | €0.1m | €0.1m | €0.2m | €0.5m | €0.6m | €2.2m | €2.7m | €2.6m | ▼ 1.1% |
| Financial income75/76B | - | - | - | €0.001m | €0.03m | €0.002m | €0.01m | €2.1m | ▲ 213× |
| Recurring financial income75 | €0.002m | €0.008m | €0.001m | €0.001m | €0.03m | €0.002m | €0.01m | €2.1m | ▲ 213× |
| Income from financial fixed assets750 | - | - | - | - | - | - | - | €2.0m | - |
| Income from current assets751 | - | - | - | - | - | - | - | €0.08m | - |
| Other financial income752/9 | - | - | - | - | - | - | - | €0.006m | - |
| Financial charges65/66B | - | - | - | €0.03m | €0.04m | €0.04m | €0.03m | €0.04m | ▲ 25.7% |
| Recurring financial charges65 | €0.02m | €0.03m | €0.03m | €0.03m | €0.04m | €0.04m | €0.03m | €0.04m | ▲ 25.7% |
| Debt charges650 | - | - | - | - | - | - | - | €0.005m | - |
| Other financial charges652/9 | - | - | - | - | - | - | - | €0.03m | - |
| Profit (loss) for the period before taxes9903 | €0.08m | €0.09m | €0.2m | €0.5m | €0.6m | €2.2m | €2.7m | €4.7m | ▲ 76.9% |
| Income taxes67/77 | €0.03m | €0.03m | €0.04m | €0.2m | €0.2m | €0.6m | €0.7m | €0.7m | = |
| Taxes670/3 | - | - | - | - | - | - | - | €0.7m | - |
| Profit (loss) for the period9904 | €0.05m | €0.06m | €0.1m | €0.3m | €0.4m | €1.6m | €2.0m | €4.0m | ▲ 104% |
| Profit (loss) for the period to be appropriated9905 | €0.05m | €0.06m | €0.1m | €0.3m | €0.4m | €1.6m | €2.0m | €4.0m | ▲ 104% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €3.2m | €2.8m | €3.0m | €3.6m | €6.2m | €7.2m | €8.4m | €11.0m | ▲ 31.5% |
| Fixed assets21/28 | €0.6m | €0.5m | €0.5m | €0.6m | €2.4m | €2.4m | €2.6m | €3.3m | ▲ 23.7% |
| Intangible fixed assets21 | - | - | - | €0.04m | €0.03m | €0.02m | €0.01m | €0.003m | ▼ 77.0% |
| Tangible fixed assets22/27 | €0.6m | €0.5m | €0.5m | €0.5m | €0.3m | €0.3m | €0.2m | €0.6m | ▲ 162% |
| Land and buildings22 | - | - | - | €0.4m | - | - | - | - | - |
| Plant, machinery and equipment23 | - | - | - | €0.1m | €0.09m | €0.1m | €0.1m | €0.3m | ▲ 153% |
| Furniture and vehicles24 | - | - | - | €0.04m | €0.2m | €0.1m | €0.1m | €0.3m | ▲ 173% |
| Financial fixed assets28 | - | - | - | - | €2.1m | €2.1m | €2.4m | €2.7m | ▲ 10.8% |
| Affiliated companies280/1 | - | - | - | - | - | - | - | €2.1m | - |
| Participating interests280 | - | - | - | - | - | - | - | €2.1m | - |
| Companies linked by participating interests282/3 | - | - | - | - | - | - | - | €0.6m | - |
| Participating interests282 | - | - | - | - | - | - | - | €480 | - |
| Amounts receivable283 | - | - | - | - | - | - | - | €0.6m | - |
| Current assets29/58 | €2.6m | €2.3m | €2.5m | €3.0m | €3.8m | €4.8m | €5.7m | €7.8m | ▲ 35.1% |
| Amounts receivable after more than one year29 | - | - | - | €0.04m | €0.04m | - | €0.2m | €0.2m | = |
| Other amounts receivable291 | - | - | - | €0.04m | €0.04m | - | €0.2m | €0.2m | = |
| Stocks and contracts in progress3 | €1.4m | €1.4m | €1.6m | €1.4m | €1.5m | €1.3m | €1.8m | €2.2m | ▲ 20.1% |
| Stocks30/36 | - | - | - | €1.4m | €1.5m | €1.3m | €1.8m | €2.2m | ▲ 20.1% |
| Goods purchased for resale34 | - | - | - | - | - | - | - | €2.2m | - |
| Amounts receivable within one year40/41 | €1.1m | €0.7m | €0.8m | €0.7m | €0.8m | €1.8m | €2.1m | €1.8m | ▼ 15.4% |
| Trade receivables40 | - | - | - | €0.7m | €0.7m | €1.7m | €1.6m | €1.1m | ▼ 35.1% |
| Other amounts receivable41 | - | - | - | €0.07m | €0.1m | €0.1m | €0.5m | €0.7m | ▲ 47.8% |
| Cash at bank and in hand54/58 | €0.06m | €0.1m | €0.1m | €0.8m | €1.4m | €1.7m | €1.5m | €3.4m | ▲ 124% |
| Deferred charges and accrued income490/1 | - | - | - | €0.008m | €0.02m | €0.01m | €0.02m | €0.09m | ▲ 254% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €3.2m | €2.8m | €3.0m | €3.6m | €6.2m | €7.2m | €8.4m | €11.0m | ▲ 31.5% |
| Equity10/15 | €1.1m | €1.2m | €1.3m | €1.6m | €3.7m | €3.3m | €5.3m | €8.3m | ▲ 57.2% |
| Contributions10/11 | €0.1m | €0.1m | €0.1m | €0.1m | €2.2m | €2.2m | €2.2m | €2.2m | = |
| Capital10 | - | - | - | €0.1m | €2.2m | €2.2m | €2.2m | €2.2m | = |
| Issued capital100 | - | - | - | €0.1m | €2.2m | €2.2m | €2.2m | €2.2m | = |
| Reserves13 | €0.2m | €0.3m | €0.3m | €0.6m | €0.6m | €0.6m | €0.7m | €0.4m | ▼ 41.3% |
| Non-distributable reserves130/1 | - | - | - | €0.03m | €0.04m | €0.1m | €0.2m | €0.2m | = |
| Legal reserve130 | - | - | - | €0.03m | €0.04m | €0.1m | €0.2m | €0.2m | = |
| Distributable reserves133 | - | - | - | €0.5m | €0.5m | €0.5m | €0.5m | €0.2m | ▼ 59.8% |
| Profit (loss) carried forward14 | €0.8m | €0.8m | €0.9m | €0.9m | €0.9m | €0.5m | €2.3m | €5.6m | ▲ 142% |
| Provisions and deferred taxes16 | - | - | - | - | €0.1m | €0.5m | €1.3m | €1.3m | ▲ 1.3% |
| Provisions for liabilities and charges160/5 | - | - | - | - | €0.1m | €0.5m | €1.3m | €1.3m | ▲ 1.3% |
| Other liabilities and charges164/5 | - | - | - | - | €0.1m | €0.5m | €1.3m | €1.3m | ▲ 1.3% |
| Amounts payable17/49 | €2.1m | €1.6m | €1.7m | €1.9m | €2.4m | €3.4m | €1.8m | €1.5m | ▼ 20.9% |
| Amounts payable after more than one year17 | €0.7m | €0.6m | €0.6m | €0.6m | €0.4m | €0.1m | €0.04m | €0.05m | ▲ 18.6% |
| Financial debts170/4 | - | - | - | €0.6m | €0.4m | €0.1m | €0.04m | €0.05m | ▲ 18.6% |
| Credit institutions173 | - | - | - | - | - | - | - | €0.05m | - |
| Amounts payable within one year42/48 | €1.4m | €1.0m | €1.1m | €1.3m | €2.0m | €3.2m | €1.8m | €1.4m | ▼ 21.8% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | ▼ 7.3% |
| Financial debts43 | - | - | - | €0.07m | €0.07m | €0.04m | - | - | - |
| Credit institutions430/8 | - | - | - | €0.07m | €0.07m | - | - | - | - |
| Other loans439 | - | - | - | - | - | €0.04m | - | - | - |
| Trade debts44 | €0.8m | €0.6m | €0.6m | €1.0m | €1.2m | €0.6m | €1.2m | €0.9m | ▼ 30.1% |
| Suppliers440/4 | - | - | - | €1.0m | €1.2m | €0.6m | €1.2m | €0.9m | ▼ 30.1% |
| Advances received on contracts in progress46 | - | - | - | - | €0.2m | - | €0.2m | €0.3m | ▲ 64.3% |
| Taxes, remuneration and social security45 | - | - | - | €0.2m | €0.4m | €1.0m | €0.3m | €0.2m | ▼ 39.7% |
| Taxes450/3 | - | - | - | €0.05m | €0.2m | €0.9m | €0.2m | €0.07m | ▼ 72.0% |
| Remuneration and social security454/9 | - | - | - | €0.1m | €0.2m | €0.1m | €0.1m | €0.1m | ▲ 38.0% |
| Other amounts payable47/48 | - | - | - | €0.004m | €0.004m | €1.5m | - | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €0.004m | €0.02m | €0.03m | €38 | €0 | ▼ 100% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.05m | €0.06m | €0.1m | €0.3m | €0.4m | €1.6m | €2.0m | €4.0m | ▲ 104% |
| + Depreciation and write-downs630 | €0.1m | €0.1m | €0.09m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | ▲ 29.9% |
| Operating cash flow (approximation) | €0.1m | €0.2m | €0.2m | €0.4m | €0.5m | €1.7m | €2.1m | €4.2m | ▲ 99.8% |
| Investment in fixed assets (approximation) | - | -€0.03m | -€0.08m | -€0.2m | -€2.0m | -€0.1m | -€0.4m | -€0.8m | ▼ 115% |
| Change in cash | - | €0.06m | -€0.005m | €0.7m | €0.6m | €0.3m | -€0.2m | €1.9m | - |
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, 20,136 companies had the same profile as MULTRONIC has now. Two years later, 95.0% were still going and 0.2% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.0%
was still going
4.7%
stopped otherwise
0.2%
went bankrupt
That fits the bankruptcy probability of MULTRONIC itself: < 0.1% 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 20,136 companies, not a prediction for MULTRONIC. 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.
Latest 10 of 43 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 28-08-2026 | 2026-00446537 | |
| 31-12-2024 | abbreviated format | 29-07-2025 | 2025-00324187 | |
| 31-12-2023 | abbreviated format | 25-06-2024 | 2024-00161576 | |
| 31-12-2022 | abbreviated format | 31-08-2023 | 2023-00397985 | |
| 31-12-2021 | abbreviated format | 27-06-2022 | 2022-20095713 | |
| 31-12-2020 | abbreviated format | 28-06-2021 | 2021-25700546 | |
| 31-12-2019 | abbreviated format | 11-06-2020 | 2020-16100039 | |
| 31-12-2018 | abbreviated format | 20-06-2019 | 2019-19800546 | |
| 31-12-2017 | abbreviated format | 28-06-2018 | 2018-23800085 | |
| 31-12-2016 | abbreviated format | 28-06-2017 | 2017-22000104 |
Board & ownership
Directors
Directors
2 directors, last change in 2024
PAUTASSO Silvano
Current
Director · appointed in the act of 23-01-2023 · also on the board of 2 other companies
Daan van de PAS
Current
Director · appointed in the act of 17-10-2024 · term until the 2026 general meeting
Owners and capital
Capital transactions
Capital over time
- 17-10-2024 Capital stated in the deed · €2,209,767 · 50,660 shares
- 17-01-2023 Capital reduction of €26,850 · to €108,199.85 · in a demerger
- 17-01-2023 Capital increase of €2,101,567.15 · to €2,209,767 · 29,710 new shares · in kind
- 17-01-2023 Capital increase · to €2,209,767
- 07-11-2022 Incorporation · €367,053.34 · 20,950 shares
Mandate history
4 people, 2 in office
- Board
- mandate already running before its first mention
| Name | Functions and periods |
|---|---|
| PAUTASSO Silvano |
|
| Daan van de PAS |
|
| Emilia VERLINDEN |
|
| Pieter VAN MULLEM |
|
Articles of association
- Transfer restrictionThis rule says whether shareholders may sell their shares freely or need approval first.
- “ARTIKEL TWAALF, vrij”
Articles of association, deed of 23-01-2023 (in Dutch)
Network & group
Holdings and subsidiaries
2 holdingsHoldings 2
Source for every holding own accounts 2025
- Diesel Emission ControlGBsubsidiaryEquity GBP 387,277Result GBP 255,622100%
- Equity -€77,666 Loss of €79,666 in 2025 Checked score 5124%
Holdings through the years 2022 to 2025
| Name | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Diesel Emission ControlGB | 100% | |||
| VAAR SYSTEMS | 24% | |||
Source: list of holdings in its own accounts
Acquisitions and mergers
1 transactionSplit off to:MULTRONIC IMMO
Companies at the same address
1 other companyConnections & network
2 connected companiesThe connected companies are in the list below.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Linked via shared directors
BATIA MOSA SHIPYARD MONSIN
via PAUTASSO Silvano · Director (not named in the articles)
Founded in 2022 · 12 FTE (2025)
→
BATIA MOSA SHIPYARD ANDENNE
via PAUTASSO Silvano · Director (not named in the articles)
Founded in 2023 · 19 FTE (2025)
→
Timeline
Acts, filings and financial milestones
Deadline for the 2026 accounts:
2026
28-08
full format · 28 days late
2025
31-12
Financial
Highest result from 2018 to 2025net €4.0m ▲104%
The net result of €4.0m is the highest of those years.
29-07
abbreviated format · 2 days before the deadline
2024
31-12
Financial
Liquidity more than doubledcurrent ratio 3.19
The current ratio rises from 1.48 to 3.19. Short-term debt falls from €3.2m to €1.8m.
31-12
Financial
Equity above €5mequity €5.3m ▲59.7%
With a profit in every financial year since 2018, equity grows to €5.3m.
17-10
Gazette deed
Appointment: Daan van de PAS (director)Capital of €2,209,767, 50,660 shares3 points ▸
Gazette deed
Appointment: Daan van de PAS (director)
Capital of €2,209,767, 50,660 shares3 points ▸
- General meeting, 28-06-2024
- Capital, €2,209,767, 50,660 shares
- Director appointment, Daan van de PAS
- The act holds 4 more points.
25-06
abbreviated format · 36 days before the deadline
2023
31-08
abbreviated format · 31 days late
23-01
Gazette deed
1 director appointed, 2 directors resigningResignations: Pieter VAN MULLEM (director) and Emilia VERLINDEN (director) · Appointment: Silvano PAUTASSO (director) · “2.Het aanleggen,het oordeelkundig uitbouwen en beheren van een eigen onroerend vermogen;alle verrichtingen met…” (deed in Dutch)5 points ▸
Gazette deed
1 director appointed, 2 directors resigning
Resignations: Pieter VAN MULLEM (director) and Emilia VERLINDEN (director) · Appointment: Silvano PAUTASSO (director) · “2.Het aanleggen,het oordeelkundig uitbouwen en beheren van een eigen onroerend vermogen;alle verrichtingen met…” (deed in Dutch)5 points ▸
- General meeting, 13-01-2023
- Purpose change, “2.Het aanleggen,het oordeelkundig uitbouwen en beheren van een eigen onroerend vermogen;alle verrichtingen met betrekking tot onroerende goederen en onroerende…” (deed in Dutch)
- Director resignation, Pieter VAN MULLEM
- Director resignation, Emilia VERLINDEN
- Director appointment, Silvano PAUTASSO
- The act holds 4 more points.
17-01
Gazette deed
Capital increase · Amendment of the articlesCapital from €135,000 to €108,199.85 · Capital from €108,199.85 to €2,209,767, 29,710 new shares · Capital after the increase: €2,209,7675 points ▸
Gazette deed
Capital increase · Amendment of the articles
Capital from €135,000 to €108,199.85 · Capital from €108,199.85 to €2,209,767, 29,710 new shares · Capital after the increase: €2,209,7675 points ▸
- General meeting, 29-12-2022
- Capital decrease, €26,850
- Capital increase, €2,101,567.15
- Capital increase, €2,209,767
- Capital, €2,209,767, 50,660 shares
- The act holds 20 more points.
2022
31-12
Financial
Equity above €2mequity €3.7m ▲125%
With a profit in every financial year since 2018, equity grows to €3.7m.
07-11
Gazette deed
Demerger: MULTRONIC splits off to MULTRONIC IMMOFounding capital of €367,053.34, 20,950 shares2 points ▸
Gazette deed
Demerger: MULTRONIC splits off to MULTRONIC IMMO
Founding capital of €367,053.34, 20,950 shares2 points ▸
- General meeting, 10-10-2022
- Founding capital, €367,053.34, 20,950 shares
- The act holds 12 more points.
Show earlier events
09-08
Gazette deed
Demerger proposal: Multronic NV splits off to Multronic Immo BV2 points ▸
Gazette deed
Demerger proposal: Multronic NV splits off to Multronic Immo BV
2 points ▸
- Board meeting, 27-07-2022
- Accounting effect, 01-05-2022
- The act holds 13 more points.
27-06
abbreviated format · 34 days before the deadline
2021
28-06
abbreviated format · 33 days before the deadline
2020
11-06
abbreviated format · 50 days before the deadline
2019
20-06
abbreviated format · 41 days before the deadline
2018
28-06
abbreviated format · 33 days before the deadline
2017
28-06
abbreviated format · 33 days before the deadline
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
MULTRONIC in Dutch
Enterprise number
0422.008.297
Legal form
Public limited company
Status
Active, normale toestand
Founded
13-10-1981
Entity type
Legal entity
Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Vlaams Gewest”
deed of 17-01-2023 (in Dutch)Registered office and establishments
Registered office
Leeuwerikweg 8, 3300 Tienen, Belgium
Establishment unit
MULTRONIC PATTON PRODUCTS, Leeuwerikweg 8, 3300 Tienen since 01-12-2006 · unit number 2.157.694.724
Activities
NACEBEL 2025VAT activities
46140
Agents in the wholesale of industrial machinery, ships and aircraft main activity
28110
Manufacture of machinery and equipment not elsewhere classified
33120
Repair and maintenance of machinery
46649
Wholesale of other machinery and equipment
64210
Activities of holding companies
71121
Engineering and related technical consultancy, excluding land surveyors
Social security (RSZ) activities
46649
Wholesale of other machinery and equipment main activity
Codes under NACEBEL 2008
VAT activities
46140
Wholesale trade main activity
28110
Manufacture of machinery and equipment not elsewhere classified
33120
Repair, maintenance and installation of machinery and equipment
46699
Wholesale trade
64200
Holdings
71121
Engineering activities
Social security (RSZ) activities
46699
Wholesale trade main activity
Codes under NACEBEL 2003
VAT activities
34300
main activity
Social security (RSZ) activities
51873
main activity
Joint committees
149 Paritair Comité voor de sectors die aan de metaal-, machine- en elektrische bouw verwant zijn
200 Aanvullend Paritair Comité voor de bedienden annual accounts 2025
PurposeThe purpose describes the activities the company may carry out under its articles.
deed of 17-01-2023 (in Dutch)
“1. de in- en uitvoer van en handel in vloeibaar gas- en andere brandstofsystemen en onderdelen alsmede van alle andere producten…”
2 activities
- 1. de in- en uitvoer van en handel in vloeibaar gas- en andere brandstofsystemen en onderdelen alsmede van alle andere producten, bijhorigheden en diensten welke ermede verband houden;
- 2. handel in tweedehandsvoertuigen. Handel in alle onderdelen en presteren van alle diensten met betrekking tot de automobielbranche, transportmiddelen, en vaar- en voertuigen. Zij mag ook alle financiële, nijverheids- en handelsverrichtingen stellen, die rechtstreeks of onrechtstreeks in verband staan met haar doel.
Invoicing and payment
VAT number
BE 0422.008.297
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Second Monday of June at 20:00
deed of 17-01-2023 (in Dutch)Environmental permits
1 application in Flanders since 2026 · 1 granted
Een grond gebruiken, aanleggen of inrichten; Nieuwe publiciteitsinrichting (met inbegrip van vernieuwen van een bestaande vergunning); Verbouwen en/of uitbreiden zonder functiewijziging en zonder wijziging van aantal woongelegenheden; Verwijderen van vrijstaande bijgebouwen, niet-overdekte lage constructies of andere beperkte handelingen
Source: Omgevingsloket Vlaanderen.
Sites & property
Location
Buildings and parcels at the address
Ground area
3,178 m²
Building footprint
1,156 m²
Building volume
6,446 m³
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 24592D0127/00R000 | Flanders | 3,178 m² | 1 · 1,156 m² | 8.0 m · 2 |