MV Technics
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 13-04-2026 PDF all 4 filings
Turnover
≈ €640,000
Estimated: probably between €510,000 and €770,000
Total assets
€533,394▲ 20.0%
2024 · €444,616
Net result
€115,916▲ 7.3%
2024 · €108,069
Working capital
-€57,403
2024 · €208,500
Multi-year overview
2022 to 2025, 4 financial yearsOperating result
€163,601
▲ 12.3%
2025
20222025
Net result
€115,916
▲ 7.3%
2025
highest quarter of the sector
20222025
Equity
€2,000
▼ 99.3%
2025
lowest quarter of the sector
20222025
Total assets
€533,394
▲ 20.0%
2025
highest quarter of the sector
20222025
Debt
€531,394
▲ 262%
2025
20222025
Working capital
-€57,403
2025
lowest quarter of the sector
20222025
Solvency
0.4%
▼ 66.6pp
2025
lowest quarter of the sector
20222025
Current ratio
0.88
▼ 2.28
2025
lowest quarter of the sector
20222025
Return on assets (ROA)
21.7%
▼ 2.6pp
2025
highest quarter of the sector
20222025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2022202320242025
Operating result€124,562-€115,170▼ 7.5%€145,732▲ 26.5%€163,601▲ 12.3%
Net result€100,850above the sector's middle half-€87,766above the sector's middle half▼ 13.0%€108,069above the sector's middle half▲ 23.1%€115,916above the sector's middle half▲ 7.3%
Equity€102,850within the sector's middle half-€190,616above the sector's middle half▲ 85.3%€297,826above the sector's middle half▲ 56.2%€2,000below the sector's middle half▼ 99.3%
Total assets€235,898within the sector's middle half-€387,233above the sector's middle half▲ 64.2%€444,616above the sector's middle half▲ 14.8%€533,394above the sector's middle half▲ 20.0%
Debt€133,048-€196,617▲ 47.8%€146,791▼ 25.3%€531,394▲ 262%
Working capital€124,080above the sector's middle half-€86,829within the sector's middle half▼ 30.0%€208,500above the sector's middle half▲ 140%-€57,403below the sector's middle half
Solvency43.6%within the sector's middle half-49.2%within the sector's middle half▲ 5.6pp67.0%within the sector's middle half▲ 17.8pp0.4%below the sector's middle half▼ 66.6pp
Current ratio3.82above the sector's middle half-1.68within the sector's middle half▼ 2.143.17within the sector's middle half▲ 1.480.88below the sector's middle half▼ 2.28
Return on assets (ROA)42.8%above the sector's middle half-22.7%above the sector's middle half▼ 20.1pp24.3%above the sector's middle half▲ 1.6pp21.7%above the sector's middle half▼ 2.6pp
above
within
below
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). 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 12% higher than in 2024 and the highest since 2022. It is the second rise in a row, after the fall in 2023.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €533,394
Fixed assets
€99,346 ▼ 29.0%
Current assets
€434,048 ▲ 42.5%
Equity and liabilities €533,394
Equity
€2,000 ▼ 99.3%
Debt
€531,394 ▲ 262%
Debt's share of the balance-sheet total rises from 33.0% to 99.6%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€204,197▲
2024 · €185,356
Cash flow
€156,512▲
2024 · €147,693
Quick ratio
0.75▼
2024 · 3.01
Interest coverage
15.36▼
2024 · 42.43
Debt ≤ 1 year
€491,451▲
2024 · €96,174
Debt > 1 year
€30,072▼
2024 · €50,212
Income taxes
€34,754▲
2024 · €33,600
A ratio outside any meaningful range has been withheld (balance sheet total €533,394, equity €2,000).
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Tangible fixed assets | €72,641 | €127,350 | €6,018 | - |
| Depreciation and write-downs of the year | €4,790 | €17,899 | €39,624 | €40,596 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 · 1 entry · €266 awarded · €266 paidAnnual accounts
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,790 | €17,899 | €39,624 | €40,596 | ▲ 2.5% |
| Other operating charges640/8 | €1,335 | €648 | €2,268 | €1,840 | ▼ 18.8% |
| Gross operating margin9900 | €130,686 | €133,717 | €187,624 | €206,037 | ▲ 9.8% |
| Operating profit (loss)9901 | €124,562 | €115,170 | €145,732 | €163,601 | ▲ 12.3% |
| Financial income75/76B | €392 | €329 | €306 | €360 | ▲ 18.0% |
| Recurring financial income75 | €392 | €329 | €306 | €360 | ▲ 18.0% |
| Financial charges65/66B | €849 | €2,949 | €4,369 | €13,292 | ▲ 204% |
| Recurring financial charges65 | €849 | €2,949 | €4,369 | €13,292 | ▲ 204% |
| Profit (loss) for the period before taxes9903 | €124,105 | €112,551 | €141,669 | €150,670 | ▲ 6.4% |
| Income taxes67/77 | €23,255 | €24,785 | €33,600 | €34,754 | ▲ 3.4% |
| Profit (loss) for the period9904 | €100,850 | €87,766 | €108,069 | €115,916 | ▲ 7.3% |
| Profit (loss) for the period to be appropriated9905 | €100,850 | €87,766 | €108,069 | €115,916 | ▲ 7.3% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €235,898 | €387,233 | €444,616 | €533,394 | ▲ 20.0% |
| Fixed assets21/28 | €67,851 | €173,548 | €139,942 | €99,346 | ▼ 29.0% |
| Tangible fixed assets22/27 | €67,851 | €173,548 | €139,942 | €99,346 | ▼ 29.0% |
| Plant, machinery and equipment23 | €3,598 | €3,759 | €3,948 | €2,424 | ▼ 38.6% |
| Furniture and vehicles24 | €64,253 | €169,790 | €135,994 | €96,922 | ▼ 28.7% |
| Current assets29/58 | €168,047 | €213,684 | €304,675 | €434,048 | ▲ 42.5% |
| Stocks and contracts in progress3 | €18,176 | €53,362 | €15,281 | €64,931 | ▲ 325% |
| Stocks30/36 | €18,176 | €53,362 | €15,281 | €64,931 | ▲ 325% |
| Amounts receivable within one year40/41 | €38,441 | €49,142 | €49,506 | €56,498 | ▲ 14.1% |
| Trade receivables40 | €18,954 | €17,483 | €29,703 | €40,554 | ▲ 36.5% |
| Other amounts receivable41 | €19,487 | €31,659 | €19,803 | €15,944 | ▼ 19.5% |
| Cash at bank and in hand54/58 | €110,166 | €106,430 | €234,087 | €307,305 | ▲ 31.3% |
| Deferred charges and accrued income490/1 | €1,265 | €4,751 | €5,800 | €5,314 | ▼ 8.4% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €235,898 | €387,233 | €444,616 | €533,394 | ▲ 20.0% |
| Equity10/15 | €102,850 | €190,616 | €297,826 | €2,000 | ▼ 99.3% |
| Contributions10/11 | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Reserves13 | €100,850 | €188,616 | €295,826 | €0 | ▼ 100% |
| Distributable reserves133 | €100,850 | €188,616 | €295,826 | €0 | ▼ 100% |
| Profit (loss) carried forward14 | - | - | €0 | €0 | - |
| Amounts payable17/49 | €133,048 | €196,617 | €146,791 | €531,394 | ▲ 262% |
| Amounts payable after more than one year17 | €38,778 | €69,519 | €50,212 | €30,072 | ▼ 40.1% |
| Financial debts170/4 | €38,778 | €69,519 | €50,212 | €30,072 | ▼ 40.1% |
| Amounts payable within one year42/48 | €43,968 | €126,856 | €96,174 | €491,451 | ▲ 411% |
| Current portion of amounts payable after more than one year42 | €8,898 | €18,508 | €19,307 | €20,140 | ▲ 4.3% |
| Financial debts43 | €2,544 | €0 | - | - | - |
| Credit institutions430/8 | €2,544 | €0 | - | - | - |
| Trade debts44 | €13,177 | €83,349 | €65,765 | €97,275 | ▲ 47.9% |
| Suppliers440/4 | €13,177 | €83,349 | €65,765 | €97,275 | ▲ 47.9% |
| Taxes, remuneration and social security45 | €14,924 | €19,906 | €7,014 | €1,100 | ▼ 84.3% |
| Taxes450/3 | €14,924 | €19,906 | €7,014 | €1,100 | ▼ 84.3% |
| Other amounts payable47/48 | €4,426 | €5,092 | €4,089 | €372,935 | ▲ 91× |
| Accrued charges and deferred income492/3 | €50,302 | €242 | €404 | €9,872 | ▲ 24× |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €100,850 | €87,766 | €108,069 | €115,916 | ▲ 7.3% |
| + Depreciation and write-downs630 | €4,790 | €17,899 | €39,624 | €40,596 | ▲ 2.5% |
| Operating cash flow (approximation) | €105,640 | €105,665 | €147,693 | €156,512 | ▲ 6.0% |
| Investment in fixed assets (approximation) | - | -€123,596 | -€6,018 | €0 | - |
| Change in cash | - | -€3,736 | €127,657 | €73,218 | ▼ 42.6% |
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, 875 companies had the same profile as MV Technics has now. Two years later, 96.6% were still going and 1.4% had gone bankrupt.
- Small
- 5 to 10 years old
- solvency under 10%
- a profit of 5% of the balance sheet or more
96.6%
was still going
1.9%
stopped otherwise
1.4%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of MV Technics itself: 0.5% 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 875 companies, not a prediction for MV Technics. 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.