MUTEC
ActiveSummary
MUTEC has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.38M and a net result of €30k. Equity is growing by ~7.1% per year across the filed fiscal years. Its solvency ranks better than 46% of 2056 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability55▼-3
Solvency65▲+2
Growth52▼-3
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €140k at 30 days acceptable
Liquidity ample (current ratio 1.9 against 1.77 in 2024; short-term debt: 49% and cash: 13.1% of total assets), but 60.3% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four 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 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% 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
39.7%
Return on assets
0.5%
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 15-07-2026, 16 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
16 d early
2024
37 d early
2023
7 d early
2022
14 d early
2021
20 d early
2020
76 d late
2019
18 d early
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€13.42M▼ 10.8%
2024 · €15.03M
2018: €9.60Mlowest in 8 years
2019: €11.52M▲ +20.1% vs 2018
2020: €13.00M▲ +12.9% vs 2019
2021: €14.24M▲ +9.6% vs 2020
2022: €17.90M▲ +25.7% vs 2021highest in 8 years
2023: €17.04M▼ -4.8% vs 2022
2024: €15.03M▼ -11.8% vs 2023
2025: €13.42M▼ -10.8% vs 2024
2018 → 2025
EBIT margin
0.7%▼ 0.8pp
2024 · 1.6%
2018: 6.7%
2019: 5.4%▼ -19.3% vs 2018
2020: 5.5%▲ +2.1% vs 2019
2021: 1.3%▼ -75.9% vs 2020
2022: 10.7%▲ +703% vs 2021highest in 8 years
2023: 4.4%▼ -59.1% vs 2022
2024: 1.6%▼ -63.6% vs 2023
2025: 0.7%▼ -52.9% vs 2024lowest in 8 years
2018 → 2025
Net result
€30k▼ 83.8%
2024 · €184k
2018: €374k
2019: €417k▲ +11.7% vs 2018
2020: €527k▲ +26.3% vs 2019
2021: €129k▼ -75.5% vs 2020
2022: €1.41M▲ +995% vs 2021highest in 8 years
2023: €537k▼ -62.0% vs 2022
2024: €184k▼ -65.7% vs 2023
2025: €30k▼ -83.8% vs 2024lowest in 8 years
2018 → 2025
Working capital
€2.64M▲ 1.7%
2024 · €2.60M
2018: €894klowest in 8 years
2019: €1.25M▲ +39.7% vs 2018
2020: €1.83M▲ +46.6% vs 2019
2021: €2.01M▲ +9.8% vs 2020
2022: €3.48M▲ +73.3% vs 2021highest in 8 years
2023: €2.03M▼ -41.6% vs 2022
2024: €2.60M▲ +27.6% vs 2023
2025: €2.64M▲ +1.7% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€14.24M-€17.90M▲ 25.7%€17.04M▼ 4.8%€15.03M▼ 11.8%€13.42M▼ 10.8%
2021: €14.24M
2022: €17.90M▲ +25.7% vs 2021highest in 5 years
2023: €17.04M▼ -4.8% vs 2022
2024: €15.03M▼ -11.8% vs 2023
2025: €13.42M▼ -10.8% vs 2024lowest in 5 years
Equity€2.21M-€3.63M▲ 64.0%€2.16M▼ 40.3%€2.35M▲ 8.5%€2.38M▲ 1.3%
2021: €2.21M
2022: €3.63M▲ +64.0% vs 2021highest in 5 years
2023: €2.16M▼ -40.3% vs 2022lowest in 5 years
2024: €2.35M▲ +8.5% vs 2023
2025: €2.38M▲ +1.3% vs 2024
Operating result€189k-€1.91M▲ 909%€744k▼ 61.1%€239k▼ 67.9%€100k▼ 58.0%
2021: €189k
2022: €1.91M▲ +909% vs 2021highest in 5 years
2023: €744k▼ -61.1% vs 2022
2024: €239k▼ -67.9% vs 2023
2025: €100k▼ -58.0% vs 2024lowest in 5 years
Net result€129k-€1.41M▲ 995%€537k▼ 62.0%€184k▼ 65.7%€30k▼ 83.8%
2021: €129k
2022: €1.41M▲ +995% vs 2021highest in 5 years
2023: €537k▼ -62.0% vs 2022
2024: €184k▼ -65.7% vs 2023
2025: €30k▼ -83.8% vs 2024lowest in 5 years
Result per fiscal year
Operating resultNet result
The operating result has fallen three years in a row; 2025 is 58% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €5.98M
Fixed assets
€412k ▲ 59.8%
Current assets
€5.57M ▼ 6.8%
Equity and liabilities €5.98M
Equity
€2.38M ▲ 1.3%
Debt
€3.60M ▼ 7.2%
Debt's share of the balance-sheet total falls from 62.3% to 60.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€212k▼
2024 · €311k
Cash flow
€142k▼
2024 · €256k
Current ratio
1.90▲
2024 · 1.77
Quick ratio
1.58▼
2024 · 1.62
Debt to equity
1.52▼
2024 · 1.65
ROE
1.3%▼
2024 · 7.8%
ROA
0.5%▼
2024 · 3.0%
Interest coverage
8.36▼
2024 · 124.83
Debt ≤ 1 year
€2.93M▼
2024 · €3.38M
Debt > 1 year
€665k▲
2024 · €500k
Income taxes
€45k▼
2024 · €79k
Staff costs
€2.23M▲
2024 · €1.99M
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 71 lines
Balance sheet
Code20242025
Assets
Total assets20/58€6.23M€5.98M▼
Fixed assets21/28€258k€412k▲
Tangible fixed assets22/27€258k€412k▲
Land and buildings22€8k€6k▼
Plant, machinery and equipment23€10k€18k▲
Furniture and vehicles24€240k€388k▲
Current assets29/58€5.97M€5.57M▼
Stocks and contracts in progress3€516k€933k▲
Stocks30/36€516k€659k▲
Goods purchased for resale34€516k€659k▲
Contracts in progress37-€274k
Amounts receivable within one year40/41€4.88M€3.84M▼
Trade receivables40€4.06M€3.43M▼
Other amounts receivable41€820k€413k▼
Cash at bank and in hand54/58€551k€782k▲
Deferred charges and accrued income490/1€25k€11k▼
Equity and liabilities
Total equity and liabilities10/49€6.23M€5.98M▼
Equity10/15€2.35M€2.38M▲
Contributions10/11€219k€219k=
Reserves13€2.00M€2.00M=
Distributable reserves133€2.00M€2.00M=
Profit (loss) carried forward14€129k€159k▲
Amounts payable17/49€3.88M€3.60M▼
Amounts payable after more than one year17€500k€665k▲
Other amounts payable178/9€500k€665k▲
Amounts payable within one year42/48€3.38M€2.93M▼
Trade debts44€2.44M€2.75M▲
Suppliers440/4€2.44M€2.75M▲
Advances received on contracts in progress46€778k€0▼
Taxes, remuneration and social security45€157k€180k▲
Taxes450/3€10k€13k▲
Remuneration and social security454/9€147k€166k▲
Other amounts payable47/48€0-
Accrued charges and deferred income492/3€6k€9k▲
Income statement
Code20242025
Operating income70/76A€15.10M€14.57M▼
Turnover70€15.03M€13.42M▼
Change in stocks of work in progress, finished goods and contracts in progress71€-31k€1.05M▲
Other operating income74€91k€98k▲
Non-recurring operating income76A€4k€6k▲
Operating charges60/66A€14.86M€14.47M▼
Goods for resale, raw materials and consumables60€9.90M€9.16M▼
Purchases600/8€10.03M€9.30M▼
Change in stocks: decrease (increase)609€-131k€-143k▼
Services and other goods61€2.87M€2.90M▲
Remuneration, social security and pensions62€1.99M€2.23M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€72k€112k▲
Other operating charges640/8€19k€13k▼
Non-recurring operating charges66A€6k€53k▲
Operating profit (loss)9901€239k€100k▼
Financial income75/76B€26k€3k▼
Recurring financial income75€26k€3k▼
Income from current assets751€24k€0▼
Other financial income752/9€2k€3k▲
Financial charges65/66B€2k€28k▲
Recurring financial charges65€2k€28k▲
Debt charges650-€25k
Other financial charges652/9€2k€3k▲
Profit (loss) for the period before taxes9903€263k€75k▼
Income taxes67/77€79k€45k▼
Taxes670/3€79k€45k▼
Profit (loss) for the period9904€184k€30k▼
Profit (loss) for the period to be appropriated9905€184k€30k▼
Appropriation of the result
Profit (loss) to be appropriated9906€229k€159k▼
Profit (loss) brought forward from the previous period14P€45k€129k▲
Transfer from equity791/2€0-
From reserves792€0-
Transfer to equity691/2€100k€0▼
To other reserves6921€100k€0▼
Profit to be distributed694/7€0-
Return on contributions (dividend)694€0-
Social balance
Average headcount (FTE)908730.331.2▲
The notes to these accounts (96 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | €14.64M | €17.62M | €16.93M | €15.10M | €14.57M | ▼ 3.5% |
| Turnover70 | €14.24M | €17.90M | €17.04M | €15.03M | €13.42M | ▼ 10.8% |
| Change in stocks of work in progress, finished goods and contracts in progress71 | €329k | €-392k | €-259k | €-31k | €1.05M | ▲ 3,544% |
| Other operating income74 | €69k | €111k | €153k | €91k | €98k | ▲ 7.8% |
| Non-recurring operating income76A | €0 | €4k | €1k | €4k | €6k | ▲ 56.6% |
| Operating charges60/66A | €14.45M | €15.71M | €16.19M | €14.86M | €14.47M | ▼ 2.6% |
| Goods for resale, raw materials and consumables60 | €10.99M | €11.58M | €11.46M | €9.90M | €9.16M | ▼ 7.5% |
| Purchases600/8 | €11.55M | €11.37M | €11.46M | €10.03M | €9.30M | ▼ 7.3% |
| Change in stocks: decrease (increase)609 | €-569k | €205k | €1k | €-131k | €-143k | ▼ 9.3% |
| Services and other goods61 | €1.77M | €2.35M | €2.85M | €2.87M | €2.90M | ▲ 1.0% |
| Remuneration, social security and pensions62 | €1.57M | €1.68M | €1.76M | €1.99M | €2.23M | ▲ 12.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €110k | €86k | €72k | €72k | €112k | ▲ 55.9% |
| Other operating charges640/8 | €16k | €16k | €40k | €19k | €13k | ▼ 28.3% |
| Non-recurring operating charges66A | €1k | €5k | €13k | €6k | €53k | ▲ 779% |
| Operating profit (loss)9901 | €189k | €1.91M | €744k | €239k | €100k | ▼ 58.0% |
| Financial income75/76B | €2k | €2k | €1k | €26k | €3k | ▼ 89.2% |
| Recurring financial income75 | €2k | €2k | €1k | €26k | €3k | ▼ 89.2% |
| Income from current assets751 | €2k | €2k | €1k | €24k | €0 | ▼ 100% |
| Other financial income752/9 | €0 | €47 | €0 | €2k | €3k | ▲ 22.6% |
| Financial charges65/66B | €6k | €4k | €4k | €2k | €28k | ▲ 1,041% |
| Recurring financial charges65 | €6k | €4k | €4k | €2k | €28k | ▲ 1,041% |
| Debt charges650 | €812 | €2k | €0 | - | €25k | - |
| Other financial charges652/9 | €5k | €2k | €4k | €2k | €3k | ▲ 20.0% |
| Profit (loss) for the period before taxes9903 | €185k | €1.91M | €741k | €263k | €75k | ▼ 71.6% |
| Income taxes67/77 | €56k | €494k | €204k | €79k | €45k | ▼ 42.8% |
| Taxes670/3 | €56k | €494k | €204k | €79k | €45k | ▼ 42.8% |
| Profit (loss) for the period9904 | €129k | €1.41M | €537k | €184k | €30k | ▼ 83.8% |
| Profit (loss) for the period to be appropriated9905 | €129k | €1.41M | €537k | €184k | €30k | ▼ 83.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €7.04M | €7.28M | €7.75M | €6.23M | €5.98M | ▼ 4.0% |
| Fixed assets21/28 | €207k | €147k | €141k | €258k | €412k | ▲ 59.8% |
| Tangible fixed assets22/27 | €207k | €147k | €141k | €258k | €412k | ▲ 59.8% |
| Land and buildings22 | - | - | €10k | €8k | €6k | ▼ 28.5% |
| Plant, machinery and equipment23 | €67k | €44k | €24k | €10k | €18k | ▲ 80.3% |
| Furniture and vehicles24 | €140k | €103k | €106k | €240k | €388k | ▲ 61.9% |
| Financial fixed assets28 | €0 | - | - | - | - | - |
| Other financial fixed assets284/8 | €0 | - | - | - | - | - |
| Amounts receivable and cash guarantees285/8 | €0 | - | - | - | - | - |
| Current assets29/58 | €6.84M | €7.13M | €7.61M | €5.97M | €5.57M | ▼ 6.8% |
| Stocks and contracts in progress3 | €591k | €387k | €386k | €516k | €933k | ▲ 80.7% |
| Stocks30/36 | €591k | €387k | €386k | €516k | €659k | ▲ 27.7% |
| Goods purchased for resale34 | €591k | €387k | €386k | €516k | €659k | ▲ 27.7% |
| Contracts in progress37 | - | - | - | - | €274k | - |
| Amounts receivable within one year40/41 | €3.50M | €3.35M | €4.66M | €4.88M | €3.84M | ▼ 21.3% |
| Trade receivables40 | €2.89M | €2.90M | €4.21M | €4.06M | €3.43M | ▼ 15.5% |
| Other amounts receivable41 | €611k | €449k | €441k | €820k | €413k | ▼ 49.7% |
| Cash at bank and in hand54/58 | €2.75M | €3.39M | €2.55M | €551k | €782k | ▲ 41.9% |
| Deferred charges and accrued income490/1 | - | €1k | €19k | €25k | €11k | ▼ 56.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €7.04M | €7.28M | €7.75M | €6.23M | €5.98M | ▼ 4.0% |
| Equity10/15 | €2.21M | €3.63M | €2.16M | €2.35M | €2.38M | ▲ 1.3% |
| Contributions10/11 | €219k | €219k | €219k | €219k | €219k | = |
| Reserves13 | €1.99M | €3.40M | €1.90M | €2.00M | €2.00M | = |
| Non-distributable reserves130/1 | €22k | €22k | €0 | - | - | - |
| Reserves not available under the articles1311 | €22k | €22k | €0 | - | - | - |
| Distributable reserves133 | €1.97M | €3.38M | €1.90M | €2.00M | €2.00M | = |
| Profit (loss) carried forward14 | €654 | €6k | €45k | €129k | €159k | ▲ 23.1% |
| Amounts payable17/49 | €4.83M | €3.65M | €5.58M | €3.88M | €3.60M | ▼ 7.2% |
| Amounts payable after more than one year17 | - | - | - | €500k | €665k | ▲ 33.0% |
| Other amounts payable178/9 | - | - | - | €500k | €665k | ▲ 33.0% |
| Amounts payable within one year42/48 | €4.83M | €3.65M | €5.57M | €3.38M | €2.93M | ▼ 13.2% |
| Current portion of amounts payable after more than one year42 | €0 | - | - | - | - | - |
| Trade debts44 | €4.57M | €2.93M | €2.54M | €2.44M | €2.75M | ▲ 12.6% |
| Suppliers440/4 | €4.57M | €2.93M | €2.54M | €2.44M | €2.75M | ▲ 12.6% |
| Advances received on contracts in progress46 | €95k | €488k | €747k | €778k | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | €165k | €225k | €286k | €157k | €180k | ▲ 14.1% |
| Taxes450/3 | €61k | €113k | €160k | €10k | €13k | ▲ 29.9% |
| Remuneration and social security454/9 | €103k | €112k | €126k | €147k | €166k | ▲ 13.0% |
| Other amounts payable47/48 | - | - | €2.00M | €0 | - | - |
| Accrued charges and deferred income492/3 | €6k | €6k | €12k | €6k | €9k | ▲ 61.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €129k | €1.41M | €537k | €184k | €30k | ▼ 83.8% |
| + Depreciation and write-downs630 | €110k | €86k | €72k | €72k | €112k | ▲ 55.9% |
| Operating cash flow (approximation) | €239k | €1.50M | €609k | €256k | €142k | ▼ 44.6% |
| Investment in fixed assets (approximation) | - | €-26k | €-65k | €-189k | €-266k | ▼ 40.8% |
| Change in cash | - | €644k | €-844k | €-2.00M | €231k | ▲ 112% |
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
15-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Weakest financial yearnet €30k ▼83.8%
Net result drops to €30k, the lowest in the series.
24-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
24-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
17-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Highest result since 2018net €1.41M ▲995%
Operating result €1.91M, net result €1.41M, both a record.
11-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
15-10
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 76 days late
2020
31-12
Financial
Equity above €2MEq €2.08M ▲33.9%
3 profitable years in a row build equity to €2.08M.
13-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
30-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
20-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
28-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 11 acts read
About the unread acts
We know of 11 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
11 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, Waregem · 1 establishment unit since 2009
Ground area
1.4 ha
Building footprint
8,493 m²
Volume, LiDAR
54,844 m³
Parcel 34452B0893/00D004, Flanders · tallest building 8.5 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Mutec
since 20092.177.115.708
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34452B0893/00D004 | Flanders | 1.4 ha | 1 · 8,493 m² | 8.5 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.
Recognitions · licences · registrations
Recognised contractor
2 categoriesMUTEC BV40358
Legal Entity Identifier
984500IBFO651CEE9709
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Identification & contact
Identification
Legal formPrivate limited company
Founded13-03-2009
Fiscal year end31-12
Activities, NACEBEL 2025
43410Roofing work
41001General construction of residential buildings
68121Development of residential building projects
46831Wholesale of construction materials, general range
85599Other education
Scores and ratios are computed by Checked and are not a credit decision.