MV-Development
ActiveSummary
MV-Development has been active since 2016 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €225,315 and a net result of €14,898. Equity has been growing by about 18% per year since 2018. Its solvency ranks better than 18% of 10,818 sector peers (NACE 70, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 16-08-2016 Normal situation
- Activity
- Business and other management consultancy NACE 70200and 1 other
- Establishment unit
- 2.256.608.394 2930 Brasschaat, since 16-08-2016
- Financial year end
- 31 December
- Peppol
- Reachable
Board and ownership
- VANHALME MaximDirector
- Holdings
- Shares in 4 companies including RENIVAN and VANHALME
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.1%
- Gross margin
- -€34,941
- Profit
- €14,898
- ▼ 78.7%
- Equity
- €225,315
- ▲ 7.1%
- Total assets
- €1.6m
- ▲ 14.1%
Score breakdownraises riskLiquidity: current ratio 0.72, cash €27,299, halvedlowers riskSize: total assets €1.6mSector: Activities of head offices; management consultancy activities (NACE 70)Figures for financial year 2025 (filed on 04-06-2026)Show the evidence
Checked score
About 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 70, micro). It does better than 20% of them on solvency, 7% on liquidity, 14% on profitability and 54% on growth.
The bankruptcy probability was computed on 02-11-2026 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.
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
The company filed its last 7 accounts on average 48 days before the deadline. In the sector (NACE 70), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 04-06-2026 PDF all 9 filings
Every figure per financial year
The operating result for 2025 is a loss of €42,802, after a profit of €47,883 in 2024. It is the lowest result since 2021.
Turnover and EBIT margin are not published. The abbreviated format does not require them.
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts guaranteed by Belgian public bodies | - | €16,665 | - | - | - |
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 | €18,218 | €8,250 | €11,097 | €43,741 | €45,828 |
| Financial fixed assets | €25,000 | €74,400 | - | €567,572 | - |
| Depreciation and write-downs of the year | €2,461 | €2,677 | €2,460 | €9,374 | €4,930 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2023 · 2 entries · €1,826 awarded · €1,826 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2023 | 1 | €252 | €252 |
| 2022 | 1 | €1,574 | €1,574 |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €0 | €8,950 | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,447 | €2,339 | €1,346 | €2,461 | €2,677 | €2,460 | €9,374 | €4,930 | ▼ 47.4% |
| Other operating charges640/8 | - | - | - | €761 | €173 | €202 | €771 | €2,931 | ▲ 280% |
| Non-recurring operating charges66A | - | - | - | €1,217 | €2,589 | €1,323 | €0 | - | - |
| Gross operating margin9900 | €31,885 | €76,318 | €64,115 | €41,039 | €37,127 | €66,559 | €58,028 | -€34,941 | - |
| Operating profit (loss)9901 | €21,153 | €71,472 | €54,733 | €36,600 | €31,687 | €62,574 | €47,883 | -€42,802 | - |
| Financial income75/76B | - | - | - | €53,215 | €13,182 | €70,436 | €52,467 | €189,481 | ▲ 261% |
| Recurring financial income75 | €0 | €3,838 | €4,000 | €53,215 | €13,182 | €70,436 | €52,467 | €189,481 | ▲ 261% |
| Financial charges65/66B | - | - | - | €19,112 | €13,928 | €19,655 | €16,232 | €131,453 | ▲ 710% |
| Recurring financial charges65 | €1,749 | €1,769 | €6,376 | €19,112 | €13,928 | €19,655 | €16,232 | €131,453 | ▲ 710% |
| Profit (loss) for the period before taxes9903 | €19,404 | €73,541 | €52,357 | €70,703 | €30,942 | €113,356 | €84,118 | €15,226 | ▼ 81.9% |
| Income taxes67/77 | €9,582 | €23,343 | €14,521 | €9,721 | €9,500 | €16,664 | €14,039 | €328 | ▼ 97.7% |
| Profit (loss) for the period9904 | €9,822 | €50,198 | €37,836 | €60,982 | €21,442 | €96,692 | €70,079 | €14,898 | ▼ 78.7% |
| Profit (loss) for the period to be appropriated9905 | €9,822 | €50,198 | €37,836 | €60,982 | €21,442 | €96,692 | €70,079 | €14,898 | ▼ 78.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.2m | €0.3m | €0.5m | €0.5m | €0.5m | €0.6m | €1.4m | €1.6m | ▲ 14.1% |
| Fixed assets21/28 | €0.2m | €0.2m | €0.2m | €0.1m | €0.2m | €0.2m | €0.8m | €0.8m | ▲ 1.9% |
| Tangible fixed assets22/27 | €0.1m | €0.1m | €0.03m | €0.04m | €0.04m | €0.05m | €0.09m | €0.1m | ▲ 48.1% |
| Land and buildings22 | - | - | - | €0.03m | €0.02m | €0.02m | €0.06m | €0.1m | ▲ 72.4% |
| Plant, machinery and equipment23 | - | - | - | €0.002m | €0.001m | €0.004m | €0.003m | €0.005m | ▲ 48.5% |
| Furniture and vehicles24 | - | - | - | €0.01m | €0.005m | €0.01m | €0.007m | €0.005m | ▼ 34.7% |
| Other tangible fixed assets26 | - | - | - | - | €0.008m | €0.008m | €0.02m | €0.02m | ▼ 5.3% |
| Financial fixed assets28 | €0.07m | €0.07m | €0.2m | €0.1m | €0.2m | €0.2m | €0.7m | €0.7m | ▼ 3.4% |
| Current assets29/58 | €0.06m | €0.1m | €0.3m | €0.3m | €0.3m | €0.4m | €0.6m | €0.7m | ▲ 31.9% |
| Amounts receivable after more than one year29 | - | - | - | €0.1m | €0.03m | €0.03m | €0.3m | €0 | ▼ 100% |
| Trade receivables290 | - | - | - | €0.1m | €0.03m | €0.03m | €0 | - | - |
| Other amounts receivable291 | - | - | - | - | - | - | €0.3m | €0 | ▼ 100% |
| Amounts receivable within one year40/41 | €0.004m | €0.03m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.7m | ▲ 229% |
| Trade receivables40 | - | - | - | €0.03m | €0.005m | €0.02m | €0.01m | €0.03m | ▲ 160% |
| Other amounts receivable41 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.7m | ▲ 233% |
| Current investments50/53 | €0.03m | - | - | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €0.03m | €0.07m | €0.1m | €0.01m | €0.08m | €0.1m | €0.06m | €0.03m | ▼ 51.1% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | - | - | €0.001m | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.2m | €0.3m | €0.5m | €0.5m | €0.5m | €0.6m | €1.4m | €1.6m | ▲ 14.1% |
| Equity10/15 | €0.07m | €0.1m | €0.05m | €0.1m | €0.1m | €0.1m | €0.2m | €0.2m | ▲ 7.1% |
| Contributions10/11 | €0.01m | €0.01m | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Reserves13 | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €0.002m | €0.002m | €0 | - | - | - |
| Distributable reserves133 | - | - | - | - | - | €0.002m | €0.002m | €0.002m | = |
| Profit (loss) carried forward14 | €0.06m | €0.1m | €0.03m | €0.09m | €0.1m | €0.1m | €0.2m | €0.2m | ▲ 7.8% |
| Amounts payable17/49 | €0.2m | €0.1m | €0.5m | €0.4m | €0.4m | €0.4m | €1.2m | €1.4m | ▲ 15.4% |
| Amounts payable after more than one year17 | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | ▼ 0.2% |
| Financial debts170/4 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | ▼ 0.3% |
| Other amounts payable178/9 | - | - | - | - | - | - | - | €210 | - |
| Amounts payable within one year42/48 | €0.2m | €0.1m | €0.2m | €0.06m | €0.05m | €0.1m | €0.9m | €1.0m | ▲ 21.2% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | ▲ 2.4% |
| Trade debts44 | - | €0.001m | €0.002m | €0.002m | €0.01m | €0.003m | €0.005m | €0.002m | ▼ 70.2% |
| Suppliers440/4 | - | - | - | €0.002m | €0.01m | €0.003m | €0.005m | €0.002m | ▼ 70.2% |
| Advances received on contracts in progress46 | - | - | - | - | €0.006m | €0 | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €0.03m | €0 | €0.03m | €0.002m | €0.009m | ▲ 452% |
| Taxes450/3 | - | - | - | €0.03m | €0 | €0.03m | €0.002m | €0.009m | ▲ 452% |
| Other amounts payable47/48 | - | - | - | €0.03m | €0.03m | €0.1m | €0.8m | €1.0m | ▲ 20.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €9,822 | €50,198 | €37,836 | €60,982 | €21,442 | €96,692 | €70,079 | €14,898 | ▼ 78.7% |
| + Depreciation and write-downs630 | €1,447 | €2,339 | €1,346 | €2,461 | €2,677 | €2,460 | €9,374 | €4,930 | ▼ 47.4% |
| Operating cash flow (approximation) | €11,268 | €52,538 | €39,183 | €63,443 | €24,119 | €99,152 | €79,453 | €19,828 | ▼ 75.0% |
| Investment in fixed assets (approximation) | - | -€2,841 | -€24,458 | €59,098 | -€75,130 | -€9,775 | -€611,142 | -€20,828 | ▲ 96.6% |
| Change in cash | - | €34,633 | €32,510 | -€84,650 | €71,337 | €23,550 | -€52,507 | -€28,516 | ▲ 45.7% |
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, 4,107 companies had the same profile as MV-Development has now. Two years later, 98.0% were still going and 1.0% had gone bankrupt.
- Small
- 10 to 20 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of MV-Development 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 4,107 companies, not a prediction for MV-Development. 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.
Filings with the National Bank (9)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 04-06-2026 | 2026-00136685 | |
| 31-12-2024 | abbreviated format | 30-05-2025 | 2025-00111330 | |
| 31-12-2023 | abbreviated format | 05-06-2024 | 2024-00113709 | |
| 31-12-2022 | abbreviated format | 22-06-2023 | 2023-00152721 | |
| 31-12-2021 | abbreviated format | 27-06-2022 | 2022-20102426 | |
| 31-12-2020 | abbreviated format | 07-06-2021 | 2021-17800003 | |
| 31-12-2019 | abbreviated format | 26-06-2020 | 2020-21300200 | |
| 31-12-2018 | abbreviated format | 28-06-2019 | 2019-26500316 | |
| 31-12-2017 | abbreviated format | 20-06-2018 | 2018-20400118 |
Board & ownership
Directors
Owners and capital
Capital transactions
- 22-09-2023 Converted to unavailable equity
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| VANHALME Maxim |
|
Articles of association
Board and representation
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “Bestuursorgaan, algemene vergadering die bestuurder(s) benoemt”
Capital, shares and profit
- Kind of sharesThe articles set which classes of shares exist and what rights each class carries.
- “100, gelijk recht in winstverdeling en vereffeningsaldo”
- Transfer restrictionThis rule says whether shareholders may sell their shares freely or need approval first.
- “Helft overdrager en helft koper(s) naar evenredigheid verworven aantal, elke overdracht onder levenden ten bezwarende als kosteloze titel…”
- Share issue ruleThe articles set how and by whom new shares are issued.
- “Ten minste vijftien dagen te rekenen van dag openstelling intekening, in geld”
Articles of association, deed of 22-09-2023 (in Dutch)
Network & group
Holdings and subsidiaries
4 holdingsHoldings 4
Source for every holding own accounts 2025
- RENIVANsubsidiaryEquity €148,209 Profit of €98,209 in 2025 Checked score 98100%
- VANHALMEsubsidiaryEquity €682,186 Profit of €182,227 in 2025 (profit of €25,807 in 2024) Checked score 94100%
- Equity €110,740 Profit of €12,213 in 2025 (profit of €2,192 in 2024) Checked score 8125%
- Equity €362,109 Profit of €102,583 in 2025 (profit of €10,154 in 2024) Checked score 8510%
Companies at the same address
6 other companies- Studievan Registered office · since 2025 1024269223
- RENIVAN Registered office · since 2024 1016488041
- SPV Ecohuis-Vanhalme Registered office · since 2024 1023286751
- Notariële bestuursvennootschap Sophie Goossens Registered office · since 2021 0736657392
- LANT Development Registered office · since 2020 0741542432
- VANHALME Registered office · since 2005 0875426582
Connections & network
1 current directorThe network starts from the directors of MV-Development. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
06-03
Gazette deed
Registered office moved from Antwerpen to BrasschaatNew seat: Lage Kaart 45-2930 Brasschaat · Previous seat: Jan Vanhoenackerstraat 16 bus 21.04-2000 Antwerpen · Director in office3 points ▸
- Board meeting, 28-12-2023
- Registered-office move, Lage Kaart 45-2930 Brasschaat
- Director in office, Maxim Vanhalme (sole director)
22-09
Gazette deed
Change of role: VANHALME Maxim, from manager to directorLegal form clause · Capital conversion · Reserve release12 points ▸
- General meeting, 08-09-2023
- Legal form clause, 01-01-2020, “besloten vennootschap” (deed in Dutch)
- Capital conversion, “statutair onbeschikbare eigen vermogensrekening van de Vennootschap” (deed in Dutch)
- Other provision, “statutair onbeschikbare eigen vermogensrekening: bedrag en samenstelling”, EUR (deed in Dutch)
- Reserve release, “geen statutair onbeschikbaar eigen vermogen vastleggen, alle eigen vermogensbestanddelen beschikbaar” (deed in Dutch)
- Power of attorney
- Other provision, “alle bestaande aandelen vertegenwoordigen een gelijk deel van het eigen vermogen van de Vennootschap, gelijk deel eigen vermogen per aandeel” (deed in Dutch)
- Other provision, “schrapping vermelding handelsaard van de vennootschap, geen onderscheid meer tussen vennootschappen met handelsaard of burgerlijke aard” (deed in Dutch)
- Other provision, “goedkeuring agendapunten onder 3 van 1 tot en met 20 voor verwerking in nieuwe statuten” (deed in Dutch)
- Amendment of the articles
- Director resignation, VANHALME Maxim (manager)
- Director appointment, VANHALME Maxim (director)
09-12
Gazette deed
Registered office moved within AntwerpenNew seat: Jan Vanhoenackerstraat 16 bus 21.04 - 2000 Antwerpen · Previous seat: Verviersstraat 1 bus 12- 2000 Antwerpen3 points ▸
- Registered-office move, Jan Vanhoenackerstraat 16 bus 21.04 - 2000 Antwerpen
- Board meeting, “De bestuurder” (deed in Dutch)
- General meeting, 10-11-2022
Show earlier events
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
1 former office
- Jan Vanhoenackerstraat 16 bus 21.04, 2000 Antwerpen until 01-01-2024 · act of 06-03-2024
Activities
NACEBEL 2025Codes under NACEBEL 2008
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 11323F0094/00A005 | Flanders | 1,483 m² | 1 · 226 m² | 8.6 m · 2 |