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MUNO

Active Risk: not assessed Private limited companyfounded 1996active for 30 yearsBallingsweg 16, 9620 ZottegemKBO/BCE: BE 0458.271.253 #2 company by total assets in Zottegem, Finance and insurance sector
Heads the group MUNO 13 companies in 3 countries
See the group

Lifetime

18 annual accounts with figures on one time axis, 28 filings since 1997
peak €1.5m (2025)
€1.5m▲ 217%
lowest -€75,342 (2022)
€437,485▼ 16.7%
peak €9.5m (2025)
€9.5m▲ 4.6%
€10.6m▲ 377%
peak 32.6 FTE (2025)
32.6 FTE▲ 16×
Board8 names since 2019
3 directorsMarie-Christine Forrez and 2 others
Documentsfilings and deeds
31-10-2025on the last day
2025financial year
Turnover from €472,350 to €1.5mStaff from 2 FTE to 32.6 FTEDemerger proposal: Muno splits off to VASTIUM 17-11Merger: NORISC takes over BENVELC 05-09Merger proposal: NORISC takes over BENVELC 23-06Debts from €2.2m to €10.6m

Key points

from the 2025 annual accounts

Turnover

€1.5m ▲ 217%
€472,0002024€1.5m2025

Turnover rose in 2025 from €472,350 to €1.5m.

Debts

€10.6m ▲ 377%
Other debts
+8.5
Taxes and wages
+0.6
Suppliers
+0.2
The rest
-0.9

Debts rose by €8.4m in 2025.

Investments

€839,866 21.5 × depreciation
20232025

Green is investment, beige is depreciation.

Payment terms

142 days to suppliers
Suppliers
48 to 142
Customers
0 to 32

MUNO pays its suppliers 94 days later than in 2024. Customers pay 32 days later.

Group

12 companies controlled

Heads a group.

Restructuring

2
  • 11-06-2025 merger with BENVELC
  • 19-01-2026 contribution to VASTIUM

2 restructurings since 2025. Latest: branch transferred to VASTIUM.

2026 accounts not filed, 11 days past the deadlineFinancial institution: outside the modelBankruptcy probability: sector outside the model

Checked score

Outside the general model
Model not applicable to financial institutions
The Checked score measures liquidity, leverage and margins against the norms for trading and manufacturing companies. A bank, insurer or financial holding has a very different balance sheet. Those ratios and the score mean nothing here. So there is no financial strength either.

Bankruptcy probability within 12 months

The company is a financial institution: a bank, insurer or financial holding. Its balance sheet works differently from that of a trading or manufacturing company. A bankruptcy probability from the general model would mislead here.

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The scores and ratios are Checked's own calculations, not a credit decision.

Signals

1 signal, which does not raise the risk
1 signal.
neutral
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 31-10-2025, 0 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2026
not filed
2025
on the day
2024
20 days early
2023
35 days early
2022
14 days early
2020
22 days early
2019
14 days early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

The company filed its last 6 accounts on average 18 days before the deadline. In the sector (NACE 64), the median for financial year 2024 was 14 days before the deadline, and 28% of those companies filed late.

Searched, nothing found (1)
neutral · No strike-offs in the KBO publications
That holds for every publication since 2021.
KBO publications

Board and ownership

W
Daily manager, Geert Mertens
MC
Director, since 12-03-2021
OW
Director
MG
Director
  • VASTIUMdeed of 19-01-2026

Shares in 1 company, BENVELC

Board & ownership

Recent changes

Registered in the Peppol Directory Reachable for e-invoices through 0208:0458271253
1 director appointed, 1 resignation Change of role: Wevano BV, from director to day-to-day manager · Resignation: Marie Christine Forrez · Appointment: MAGNA GROUP B.V. (director) · General meeting of 03-06-2026 · Gazette deed
Demerger: MUNO splits off to VASTIUM Founding capital of €50,000 · Capital decrease of €4,109,727 to €4,378,865.01 · Capital from €8,488,592.01 to €4,378,865.01 · Appointments: WEVANO (director) and Marie-Christine Forrez (director) · Gazette deed
Demerger proposal: Muno splits off to VASTIUM Permanent representative: Geert Mertens · Appointments: Marie-Christine Forrez (director) and OBV WEVANO (director) · Founding capital of €4,109,727, 639,750 shares · Gazette deed
All 48 events

Comparable companies

same main activity, similar in size and age
Company
MUNO Zottegem €1.5m -3.9% 47.1% 32.6
FALCON TRADE Mettet €1.9m -2.2% 55.2% 19.2
DE BREE Maldegem €3.1m 8.6% 38.9% 17.6
INGA Deerlijk €2.4m -24.7% 56.5% 18.7
ASPRIA BELGIUM Woluwe-Saint-Lambert €2.5m 59.3% 93.4% 15.8
HOLDING PCS Ans €4.5m -9.3% 39.6% 33.5
WALDING Beveren-Kruibeke-Zwijndrecht €1.6m 25.5% 98.2% 11.8
-10%0%10%20%€2m€20m€200mMUNOEBIT margin

Grey: the largest companies of the sector (financial services (NACE 64)), without their names. Blue: the sector peers from the table.

These companies have the same main activity as MUNO: activities of holding companies (NACE 64210). They are comparable in size and age: total assets between €14m and €32m, founded between 1992 and 2001.

Official details

Source: KBO
Status
Active since 21-06-1996Normal situation
Activity
Activities of holding companiesNACE 64210and 1 other
Joint committees
100Auxiliary committee for blue-collar workers
200Auxiliary committee for white-collar workers · annual accounts 31-03-2024
Establishment unit
2.343.131.9018900 Ypres, since 01-01-2023
Financial year end
31 March
Peppol
Reachable since 29-09-2026
Company details

Annual accounts to 31-03-2025

€20.1m▲ 78.2%
Filing
Filed on 31-10-2025
Financials

Insights on MUNO

MUNO has existed since 1996. The present size dates from 2025. Turnover rose that year from €472,350 to €1.5m and staff from 2 to 32.6 full-time equivalents.

Turnover has grown every year since 2022. Solvency fell in 2025 from 80.2% to 47.1%.

Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.

Key facts about MUNO

What is the company number of MUNO?
The company number of MUNO is 0458.271.253. The VAT number is the same number with BE in front: BE 0458.271.253.
Where is MUNO based?
The registered office is at Ballingsweg 16, 9620 Zottegem.Company details
What does MUNO do?
According to the KBO register, the main activity is activities of holding companies (NACE 64210).
What is the legal form of MUNO?
MUNO is a private limited company (BV).
When was MUNO founded?
MUNO was founded on 21-06-1996.
Is MUNO still active?
Yes, MUNO is an active enterprise in the KBO register.
How many employees does MUNO have?
MUNO had an average of 32.6 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
Which joint committee does MUNO fall under?
In its 31-03-2024 annual accounts, MUNO states joint committees 100 (Auxiliary committee for blue-collar workers) and 200 (Auxiliary committee for white-collar workers).
What is the turnover of MUNO?
The turnover of MUNO was €1.5m in financial year 2025, according to the filed annual accounts.
Is MUNO profitable?
In financial year 2025, MUNO made a profit of €437,485.
Where can I find the annual accounts of MUNO?
MUNO filed 28 annual accounts with the National Bank of Belgium, the latest for financial year 2025.

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