Summary
MVCON is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €18,506 and a net result of -€94. Equity is growing by ~15.9% per year across the filed fiscal years. Its solvency ranks better than 12% of 9752 sector peers (fiscal year 2025). The company has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals.
Financials · fiscal year 2025, micro schema
Equity
€18,506▼ 53.1%
2024 · €39,480
Net result
-€94▲ 95.6%
2024 · -€2,116
Total assets
€363,171▲ 0.1%
2024 · €362,825
Solvency
5.1%▼ 5.8pp
2024 · 10.9%
Trend over the years
2021 to 2025, 5 fiscal years 2018 to 2025, 8 fiscal years
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 6% above 2024.
What the company sold each fiscal year and what was left of it. A loss stands below the zero line.
Operating result€15,454
2025
Net result-€94
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€363,171
2025
Equity€18,506
2025
Debt€344,665
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€103,697
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)0.0%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency5.1%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio0.41
2025
Average staff in full-time equivalents (FTE).
Staff (FTE)1
2025
Point at or tap a year, or use the arrow keys on the chart, for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€1,848-€12,926€14,583▲ 12.8%€16,928▲ 16.1%€7,626▼ 54.9%€8,612▲ 12.9%€14,517▲ 68.6%€15,454▲ 6.5%
Net result-€1,848-€9,611€10,578within the sector's middle half▲ 10.1%€12,052within the sector's middle half▲ 13.9%€4,615within the sector's middle half▼ 61.7%€388below the sector's middle half▼ 91.6%-€2,116below the sector's middle half-€94below the sector's middle half▲ 95.6%
Equity€4,352-€13,963▲ 221%€24,541below the sector's middle half▲ 75.8%€36,593below the sector's middle half▲ 49.1%€41,209within the sector's middle half▲ 12.6%€41,596within the sector's middle half▲ 0.9%€39,480within the sector's middle half▼ 5.1%€18,506below the sector's middle half▼ 53.1%
Total assets€6,200-€26,125▲ 321%€29,476below the sector's middle half▲ 12.8%€57,706below the sector's middle half▲ 95.8%€96,221below the sector's middle half▲ 66.7%€379,504within the sector's middle half▲ 294%€362,825within the sector's middle half▼ 4.4%€363,171within the sector's middle half▲ 0.1%
Debt€1,848-€12,162▲ 558%€4,935▼ 59.4%€21,113▲ 328%€55,012▲ 161%€337,908▲ 514%€323,345▼ 4.3%€344,665▲ 6.6%
Working capital€4,352-€13,963▲ 221%€24,541within the sector's middle half▲ 75.8%€37,775within the sector's middle half▲ 53.9%€13,282within the sector's middle half▼ 64.8%-€45,564below the sector's middle half-€62,604below the sector's middle half▼ 37.4%-€103,697below the sector's middle half▼ 65.6%
Solvency70.2%-53.4%▼ 16.8pp83.3%above the sector's middle half▲ 29.8pp63.4%within the sector's middle half▼ 19.8pp42.8%within the sector's middle half▼ 20.6pp11.0%below the sector's middle half▼ 31.9pp10.9%below the sector's middle half▼ 0.1pp5.1%below the sector's middle half▼ 5.8pp
Current ratio3.36-2.15▼ 1.215.97above the sector's middle half▲ 3.822.90within the sector's middle half▼ 3.081.74within the sector's middle half▼ 1.160.49below the sector's middle half▼ 1.250.44below the sector's middle half▼ 0.050.41below the sector's middle half▼ 0.04
Return on assets (ROA)-29.8%-36.8%▲ 66.6pp35.9%above the sector's middle half▼ 0.9pp20.9%within the sector's middle half▼ 15.0pp4.8%within the sector's middle half▼ 16.1pp0.1%below the sector's middle half▼ 4.7pp-0.6%below the sector's middle half▼ 0.7pp0.0%below the sector's middle half▲ 0.6pp
Staff (FTE)11=1=
above
within
below
the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €363,171
Fixed assets
€292,280 ▼ 6.7%
Current assets
€70,891 ▲ 43.3%
Equity and liabilities €363,171
Equity
€18,506 ▼ 53.1%
Debt
€344,665 ▲ 6.6%
Debt's share of the balance-sheet total rises from 89.1% to 94.9%. Equity is lower and debt is higher.
Key figures and ratios
ROE
-0.5%▲
2024 · -5.4%
Debt ≤ 1 year
€174,588▲
2024 · €112,087
Debt > 1 year
€168,699▼
2024 · €209,292
Income taxes
€2,852▲
2024 · €1,999
Staff costs
€45,698▲
2024 · €26,287
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | - | - | €34,506 | €26,287 | €45,698 | ▲ 73.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | - | €12,409 | €20,666 | €22,854 | €23,214 | ▲ 1.6% |
| Other operating charges640/8 | - | - | - | €449 | €1,431 | €1,715 | €2,021 | €1,090 | ▼ 46.1% |
| Gross operating margin9900 | -€1,798 | €13,371 | €15,030 | €17,376 | €21,466 | €65,498 | €65,679 | €85,455 | ▲ 30.1% |
| Operating profit (loss)9901 | -€1,848 | €12,926 | €14,583 | €16,928 | €7,626 | €8,612 | €14,517 | €15,454 | ▲ 6.5% |
| Financial income75/76B | - | - | - | €0 | €0 | - | €0 | €0 | ▼ 100% |
| Recurring financial income75 | - | - | - | €0 | €0 | - | €0 | €0 | ▼ 100% |
| Financial charges65/66B | - | - | - | €119 | €1,084 | €5,819 | €14,635 | €12,696 | ▼ 13.2% |
| Recurring financial charges65 | - | €235 | €100 | €119 | €1,084 | €5,819 | €14,635 | €12,696 | ▼ 13.2% |
| Profit (loss) for the period before taxes9903 | -€1,848 | €12,691 | €14,483 | €16,809 | €6,542 | €2,792 | -€117 | €2,758 | ▲ 2,449% |
| Income taxes67/77 | - | €3,081 | €3,905 | €4,756 | €1,927 | €2,405 | €1,999 | €2,852 | ▲ 42.7% |
| Profit (loss) for the period9904 | -€1,848 | €9,611 | €10,578 | €12,052 | €4,615 | €388 | -€2,116 | -€94 | ▲ 95.6% |
| Profit (loss) for the period to be appropriated9905 | -€1,848 | €9,611 | €10,578 | €12,052 | €4,615 | €388 | -€2,116 | -€94 | ▲ 95.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €6,200 | €26,125 | €29,476 | €57,706 | €96,221 | €379,504 | €362,825 | €363,171 | ▲ 0.1% |
| Fixed assets21/28 | - | - | - | - | €64,881 | €336,196 | €313,342 | €292,280 | ▼ 6.7% |
| Tangible fixed assets22/27 | - | - | - | - | €64,881 | €81,196 | €58,342 | €37,280 | ▼ 36.1% |
| Furniture and vehicles24 | - | - | - | - | €64,881 | €81,196 | €58,342 | €37,280 | ▼ 36.1% |
| Financial fixed assets28 | - | - | - | - | - | €255,000 | €255,000 | €255,000 | = |
| Current assets29/58 | €6,200 | €26,125 | €29,476 | €57,706 | €31,340 | €43,308 | €49,483 | €70,891 | ▲ 43.3% |
| Amounts receivable within one year40/41 | - | - | €7,816 | €7,673 | €10,944 | €30,748 | €32,813 | €51,314 | ▲ 56.4% |
| Trade receivables40 | - | - | - | €7,673 | €9,663 | €20,873 | €26,217 | €36,715 | ▲ 40.0% |
| Other amounts receivable41 | - | - | - | €0 | €1,280 | €9,875 | €6,597 | €14,599 | ▲ 121% |
| Cash at bank and in hand54/58 | €6,200 | €26,076 | €19,456 | €49,120 | €20,396 | €12,560 | €16,372 | €19,577 | ▲ 19.6% |
| Deferred charges and accrued income490/1 | - | - | - | €913 | €0 | - | €297 | €0 | ▼ 100% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €6,200 | €26,125 | €29,476 | €57,706 | €96,221 | €379,504 | €362,825 | €363,171 | ▲ 0.1% |
| Equity10/15 | €4,352 | €13,963 | €24,541 | €36,593 | €41,209 | €41,596 | €39,480 | €18,506 | ▼ 53.1% |
| Contributions10/11 | €6,200 | €6,200 | - | €6,200 | €6,200 | €6,200 | €6,200 | €18,600 | ▲ 200% |
| Reserves13 | - | €7,763 | €18,341 | €30,393 | €35,009 | €35,396 | €33,280 | €0 | ▼ 100% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €0 | - | - | - |
| Distributable reserves133 | - | - | - | €28,533 | €33,149 | €35,396 | €33,280 | €0 | ▼ 100% |
| Profit (loss) carried forward14 | -€1,848 | - | - | - | - | - | - | -€94 | - |
| Amounts payable17/49 | €1,848 | €12,162 | €4,935 | €21,113 | €55,012 | €337,908 | €323,345 | €344,665 | ▲ 6.6% |
| Amounts payable after more than one year17 | - | - | - | - | €36,366 | €248,448 | €209,292 | €168,699 | ▼ 19.4% |
| Financial debts170/4 | - | - | - | - | €36,366 | €248,448 | €209,292 | €168,699 | ▼ 19.4% |
| Amounts payable within one year42/48 | €1,848 | €12,162 | €4,935 | €19,931 | €18,058 | €88,872 | €112,087 | €174,588 | ▲ 55.8% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €10,930 | €37,780 | €39,157 | €40,593 | ▲ 3.7% |
| Trade debts44 | €1,848 | €734 | €774 | €926 | €1,474 | €2,962 | €1,870 | €21,512 | ▲ 1,051% |
| Suppliers440/4 | - | - | - | €926 | €1,474 | €2,962 | €1,870 | €21,512 | ▲ 1,051% |
| Taxes, remuneration and social security45 | - | - | - | €17,055 | €5,036 | €12,768 | €15,476 | €22,498 | ▲ 45.4% |
| Taxes450/3 | - | - | - | €15,106 | €5,036 | €5,016 | €9,012 | €16,087 | ▲ 78.5% |
| Remuneration and social security454/9 | - | - | - | €1,949 | €0 | €7,752 | €6,464 | €6,411 | ▼ 0.8% |
| Other amounts payable47/48 | - | - | - | €1,951 | €619 | €35,362 | €55,585 | €89,985 | ▲ 61.9% |
| Accrued charges and deferred income492/3 | - | - | - | €1,181 | €588 | €588 | €1,966 | €1,378 | ▼ 29.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€1,848 | €9,611 | €10,578 | €12,052 | €4,615 | €388 | -€2,116 | -€94 | ▲ 95.6% |
| + Depreciation and write-downs630 | - | - | - | - | €12,409 | €20,666 | €22,854 | €23,214 | ▲ 1.6% |
| Operating cash flow (approximation) | -€1,848 | €9,611 | €10,578 | €12,052 | €17,024 | €21,053 | €20,738 | €23,119 | ▲ 11.5% |
| Investment in fixed assets (approximation) | - | - | - | - | - | -€291,981 | €0 | -€2,151 | - |
| Change in cash | - | €19,876 | -€6,620 | €29,664 | -€28,724 | -€7,836 | €3,812 | €3,205 | ▼ 15.9% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
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