MVT Projects
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 30-06-2026 at the NBB all 5 filings
Turnover
≈ €80,000
Estimated: probably between €46,000 and €110,000
Total assets
€162,145▲ 2.2%
2024 · €158,668
Net result
€14,561▼ 61.7%
2024 · €37,974
Working capital
-€28,472▼ 667%
2024 · -€3,710
Multi-year overview
2021 to 2025, 5 financial yearsOperating result
€19,720
▼ 60.0%
2025
20212025
Net result
€14,561
▼ 61.7%
2025
middle half of the sector
20212025
Equity
€105,762
▼ 22.6%
2025
middle half of the sector
20212025
Total assets
€162,145
▲ 2.2%
2025
middle half of the sector
20212025
Debt
€56,384
▲ 157%
2025
20212025
Working capital
-€28,472
▼ 667%
2025
lowest quarter of the sector
20212025
Solvency
65.2%
▼ 20.9pp
2025
middle half of the sector
20212025
Current ratio
0.50
▼ 0.34
2025
lowest quarter of the sector
20212025
Return on assets (ROA)
9.0%
▼ 15.0pp
2025
middle half of the sector
20212025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20212022202320242025
Operating result€58,334-€47,383▼ 18.8%€51,152▲ 8.0%€49,266▼ 3.7%€19,720▼ 60.0%
Net result€45,665within the sector's middle half-€36,545within the sector's middle half▼ 20.0%€40,516within the sector's middle half▲ 10.9%€37,974within the sector's middle half▼ 6.3%€14,561within the sector's middle half▼ 61.7%
Equity€46,665within the sector's middle half-€83,210within the sector's middle half▲ 78.3%€123,726within the sector's middle half▲ 48.7%€136,701within the sector's middle half▲ 10.5%€105,762within the sector's middle half▼ 22.6%
Total assets€67,150below the sector's middle half-€103,881within the sector's middle half▲ 54.7%€150,343within the sector's middle half▲ 44.7%€158,668within the sector's middle half▲ 5.5%€162,145within the sector's middle half▲ 2.2%
Debt€20,484-€20,671▲ 0.9%€26,616▲ 28.8%€21,967▼ 17.5%€56,384▲ 157%
Working capital€44,584within the sector's middle half-€25,098within the sector's middle half▼ 43.7%€26,924within the sector's middle half▲ 7.3%-€3,710below the sector's middle half-€28,472below the sector's middle half▼ 667%
Solvency69.5%within the sector's middle half-80.1%above the sector's middle half▲ 10.6pp82.3%above the sector's middle half▲ 2.2pp86.2%above the sector's middle half▲ 3.9pp65.2%within the sector's middle half▼ 20.9pp
Current ratio3.18within the sector's middle half-2.21within the sector's middle half▼ 0.962.01within the sector's middle half▼ 0.200.83below the sector's middle half▼ 1.180.50below the sector's middle half▼ 0.34
Return on assets (ROA)68.0%above the sector's middle half-35.2%above the sector's middle half▼ 32.8pp26.9%within the sector's middle half▼ 8.2pp23.9%within the sector's middle half▼ 3.0pp9.0%within the sector's middle half▼ 15.0pp
above
within
below
The sector band is the middle half of the companies in Activities of head offices; management consultancy activities (NACE 70). 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 60% lower than in 2024 and the lowest since 2021. It is the second fall in a row.
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 €162,145
Fixed assets
€134,234 ▼ 4.4%
Current assets
€27,911 ▲ 52.9%
Equity and liabilities €162,145
Equity
€105,762 ▼ 22.6%
Debt
€56,384 ▲ 157%
Debt's share of the balance-sheet total rises from 13.8% to 34.8%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€26,476▼
2024 · €54,420
Cash flow
€21,317▼
2024 · €43,128
Debt to equity
0.53▲
2024 · 0.16
ROE
13.8%▼
2024 · 27.8%
Interest coverage
27.56▼
2024 · 58.74
Debt ≤ 1 year
€56,384▲
2024 · €21,967
Income taxes
€4,198▼
2024 · €10,350
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €3,017 | €63,688 | €41,363 | €48,800 | €1,070 |
| Depreciation and write-downs of the year | €936 | €7,657 | €2,672 | €5,154 | €6,756 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2025 · 1 entry · €264 awarded · €264 paidAnnual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €936 | €7,657 | €2,672 | €5,154 | €6,756 | ▲ 31.1% |
| Other operating charges640/8 | €1,361 | €390 | €597 | €615 | €432 | ▼ 29.8% |
| Non-recurring operating charges66A | - | - | - | - | €490 | - |
| Gross operating margin9900 | €60,630 | €55,431 | €54,421 | €55,035 | €27,398 | ▼ 50.2% |
| Operating profit (loss)9901 | €58,334 | €47,383 | €51,152 | €49,266 | €19,720 | ▼ 60.0% |
| Financial income75/76B | €15 | - | €1,435 | €23 | - | - |
| Recurring financial income75 | €15 | - | €1,435 | €23 | - | - |
| Financial charges65/66B | €1,014 | €1,186 | €1,546 | €965 | €961 | ▼ 0.5% |
| Recurring financial charges65 | €1,014 | €1,186 | €1,546 | €926 | €961 | ▲ 3.7% |
| Non-recurring financial charges66B | - | - | - | €39 | - | - |
| Profit (loss) for the period before taxes9903 | €57,335 | €46,197 | €51,041 | €48,324 | €18,759 | ▼ 61.2% |
| Income taxes67/77 | €11,670 | €9,652 | €10,525 | €10,350 | €4,198 | ▼ 59.4% |
| Profit (loss) for the period9904 | €45,665 | €36,545 | €40,516 | €37,974 | €14,561 | ▼ 61.7% |
| Profit (loss) for the period to be appropriated9905 | €45,665 | €36,545 | €40,516 | €37,974 | €14,561 | ▼ 61.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €67,150 | €103,881 | €150,343 | €158,668 | €162,145 | ▲ 2.2% |
| Fixed assets21/28 | €2,081 | €58,112 | €96,803 | €140,410 | €134,234 | ▼ 4.4% |
| Tangible fixed assets22/27 | €2,081 | €58,112 | €96,803 | €140,410 | €134,234 | ▼ 4.4% |
| Land and buildings22 | - | €20,000 | €20,000 | €130,770 | €127,353 | ▼ 2.6% |
| Furniture and vehicles24 | €2,081 | €3,112 | €5,647 | €9,641 | €6,881 | ▼ 28.6% |
| Assets under construction and advance payments27 | - | €35,000 | €71,156 | - | - | - |
| Current assets29/58 | €65,069 | €45,769 | €53,540 | €18,257 | €27,911 | ▲ 52.9% |
| Amounts receivable within one year40/41 | €26,784 | €19,865 | €16,188 | €1,738 | €15,291 | ▲ 780% |
| Trade receivables40 | €26,784 | €19,865 | €16,188 | - | - | - |
| Other amounts receivable41 | - | - | - | €1,738 | €15,291 | ▲ 780% |
| Cash at bank and in hand54/58 | €36,771 | €23,722 | €35,079 | €11,835 | €8,583 | ▼ 27.5% |
| Deferred charges and accrued income490/1 | €1,515 | €2,181 | €2,273 | €4,684 | €4,038 | ▼ 13.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €67,150 | €103,881 | €150,343 | €158,668 | €162,145 | ▲ 2.2% |
| Equity10/15 | €46,665 | €83,210 | €123,726 | €136,701 | €105,762 | ▼ 22.6% |
| Contributions10/11 | €1,000 | €1,000 | €1,000 | €1,000 | €1,000 | = |
| Reserves13 | €45,665 | €82,210 | €122,726 | €135,701 | €104,762 | ▼ 22.8% |
| Distributable reserves133 | €45,665 | €82,210 | €122,726 | €135,701 | €104,762 | ▼ 22.8% |
| Amounts payable17/49 | €20,484 | €20,671 | €26,616 | €21,967 | €56,384 | ▲ 157% |
| Amounts payable within one year42/48 | €20,484 | €20,671 | €26,616 | €21,967 | €56,384 | ▲ 157% |
| Financial debts43 | - | - | - | - | €1,683 | - |
| Credit institutions430/8 | - | - | - | - | €1,683 | - |
| Trade debts44 | €175 | €722 | €2,451 | €957 | €841 | ▼ 12.1% |
| Suppliers440/4 | €175 | €722 | €2,451 | €957 | €841 | ▼ 12.1% |
| Taxes, remuneration and social security45 | €19,588 | €18,512 | €22,169 | €14,968 | €6,670 | ▼ 55.4% |
| Taxes450/3 | €19,588 | €18,512 | €22,169 | €14,968 | €6,670 | ▼ 55.4% |
| Other amounts payable47/48 | €722 | €1,437 | €1,996 | €6,042 | €47,190 | ▲ 681% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €45,665 | €36,545 | €40,516 | €37,974 | €14,561 | ▼ 61.7% |
| + Depreciation and write-downs630 | €936 | €7,657 | €2,672 | €5,154 | €6,756 | ▲ 31.1% |
| Operating cash flow (approximation) | €46,601 | €44,202 | €43,188 | €43,128 | €21,317 | ▼ 50.6% |
| Investment in fixed assets (approximation) | - | -€63,688 | -€41,363 | -€48,761 | -€580 | ▲ 98.8% |
| Change in cash | - | -€13,048 | €11,357 | -€23,244 | -€3,253 | ▲ 86.0% |
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, 26,972 companies had the same profile as MVT Projects has now. Two years later, 94.9% were still going and 1.6% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
94.9%
was still going
3.4%
stopped otherwise
1.6%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of MVT Projects itself: 0.6% 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 26,972 companies, not a prediction for MVT Projects. 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 (5)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 30-06-2026 | 2026-00235332 | |
| 31-12-2024 | micro format | 31-07-2025 | 2025-00348110 | |
| 31-12-2023 | micro format | 31-07-2024 | 2024-00321572 | |
| 31-12-2022 | micro format | 30-06-2023 | 2023-00180812 | |
| 31-12-2021 | micro format | 31-08-2022 | 2022-20411546 |