MUNIN
ActiveMUNIN has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €87k and a net result of €18k. Equity is growing by ~18.3% per year across the filed fiscal years. Its solvency ranks better than 49% of 1309 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
67
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability81▲+32
Solvency70▲+11
Growth52=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €5k at 30 days acceptable
Liquidity short (current ratio 0.78 against 0.66 in 2024; short-term debt: 25.5% and cash: 0.7% of total assets), and 55.1% of the assets are financed with debt.
Credit advice for your own amount and term
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 33
Relative position
BE, all sectors
reference
Sector 33
higher
← 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
44.9%
Return on assets
9.4%
Age of the figures
9 mo
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 23-07-2026, 8 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
8 d early
2024
24 d early
2023
19 d early
2022
31 d early
2021
20 d early
2020
16 d early
2019
21 d early
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
23-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€87k▲ 26.6%
2024 · €68k
2019: €35k
2020: €50k
2021: €63k
2022: €92k
2023: €107k
2024: €68k
2019 → 2025
Total assets
€193k▼ 3.1%
2024 · €199k
2019: €43k
2020: €244k
2021: €310k
2022: €148k
2023: €202k
2024: €199k
2019 → 2025
Net result
€18k▲ 59.4%
2024 · €11k
2019: €29k
2020: €15k
2021: €13k
2022: €29k
2023: €15k
2024: €11k
2019 → 2025
Working capital
€-11k▲ 52.6%
2024 · €-22k
2019: €35k
2020: €234k
2021: €46k
2022: €30k
2023: €21k
2024: €-22k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€63k-€92k▲ 46.0%€107k▲ 16.9%€68k▼ 36.0%€87k▲ 26.6%
Operating result€22k-€38k▲ 73.6%€25k▼ 33.6%€35k▲ 40.2%€31k▼ 11.0%
Net result€13k-€29k▲ 131%€15k▼ 46.4%€11k▼ 26.3%€18k▲ 59.4%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 11% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €193k
Fixed assets
€154k▼ 1.0%
Current assets
€39k▼ 10.4%
Equity and liabilities €193k
Equity
€87k▲ 26.6%
Debt
€106k▼ 18.6%
The debt ratio falls from 65.6% to 55.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€38k▼
2024 · €44k
Cash flow
€25k▲
2024 · €20k
Solvency
44.9%▲
2024 · 34.4%
Current ratio
0.78▲
2024 · 0.66
Quick ratio
0.78▲
2024 · 0.66
Debt / equity
1.23▼
2024 · 1.91
ROE
21.0%▲
2024 · 16.7%
ROA
9.4%▲
2024 · 5.7%
Interest coverage
6.43▲
2024 · 2.72
Debt
€106k▼
2024 · €131k
Debt ≤ 1 year
€49k▼
2024 · €66k
Debt > 1 year
€57k▼
2024 · €65k
Income taxes
€7k▼
2024 · €8k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€199k€193k▼
Fixed assets21/28€156k€154k▼
Tangible fixed assets22/27€156k€154k▼
Land and buildings22€137k€134k▼
Plant, machinery and equipment23€5k€4k▼
Furniture and vehicles24€2k€6k▲
Other tangible fixed assets26€12k€10k▼
Current assets29/58€43k€39k▼
Amounts receivable within one year40/41€28k€28k▼
Trade receivables40€22k€23k▲
Other amounts receivable41€6k€4k▼
Current investments50/53€12k€9k▼
Cash at bank and in hand54/58€2k€1k▼
Deferred charges and accrued income490/1€695€731▲
Equity and liabilities
Total equity and liabilities10/49€199k€193k▼
Equity10/15€68k€87k▲
Contributions10/11€6k€6k=
Reserves13€62k€80k▲
Distributable reserves133€62k€80k▲
Profit (loss) carried forward14€0€0=
Amounts payable17/49€131k€106k▼
Amounts payable after more than one year17€65k€57k▼
Financial debts170/4€65k€57k▼
Amounts payable within one year42/48€66k€49k▼
Current portion of amounts payable after more than one year42€8k€8k▲
Financial debts43€3k€313▼
Credit institutions430/8€3k€313▼
Trade debts44€1k€593▼
Suppliers440/4€1k€593▼
Taxes, remuneration and social security45€7k€6k▼
Taxes450/3€7k€6k▼
Other amounts payable47/48€47k€34k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€8k€7k▼
Other operating charges640/8€1k€2k▲
Gross operating margin9900€45k€40k▼
Operating profit (loss)9901€35k€31k▼
Financial income75/76B€1€0▼
Recurring financial income75€1€0▼
Financial charges65/66B€16k€6k▼
Recurring financial charges65€16k€6k▼
Profit (loss) for the period before taxes9903€19k€26k▲
Income taxes67/77€8k€7k▼
Profit (loss) for the period9904€11k€18k▲
Profit (loss) for the period to be appropriated9905€11k€18k▲
Appropriation of the result
Profit (loss) to be appropriated9906€111k€18k▼
Profit (loss) brought forward from the previous period14P€99k€0▼
Transfer to equity691/2€61k€18k▼
To other reserves6921€61k€18k▼
Profit to be distributed694/7€50k€0▼
Return on contributions (dividend)694€50k€0▼
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
23-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
07-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet €11k ▼26.3%
Net result drops to €11k, the lowest in the series; recovery starts the following year.
12-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Equity above €100kEq €107k ▲16.9%
5 profitable years in a row build equity to €107k.
30-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
11-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
15-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Liquidity quadruplescurrent ratio 23.91
Current ratio from 5.51 to 23.91.
10-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
3 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Gent · 1 establishment unit since 2018
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Jan van Aelbroecklaan 269050 GentGround area
497 m²
Building footprint
137 m²
Volume, LiDAR
814 m³
Parcel 44362B0183/00W000, Flanders · tallest building 11.2 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
MUNIN
since 20182.271.869.959
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44362B0183/00W000 | Flanders | 497 m² | 1 · 137 m² | 11.2 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Legal Entity Identifier
875500BBFI7YLMPUCQ16
Similar companies · same sector, comparable size
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UWT
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UwWaterman.be
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MB COOPER & PARTNERS
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Of 1,225 companies in sector 33200 we hold annual accounts for 676. 516 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded05-01-2018
Fiscal year end31-12
Activities, NACEBEL
33200Installation of industrial machinery and equipment
62010Computer programming, consultancy and related activities
62020IT consultancy
62900Other information technology and computer services
62100Computer programming
62200Computer consultancy and computer facilities management
71209Other technical testing and analysis
74909Other professional, scientific and technical activities
74999Other professional, scientific and technical activities
Sources
Crossroads Bank for EnterprisesNational Bank · 7 filingsAddress and cadastre registers
Data from official sources, last processed on 23-09-2026. Scores and ratios are computed by Checked and are not a credit decision.