Checked.be
Active
BE 0761.469.992Private limited company
M-PIBOX
Rue Sur les Bruyères 676 ·4870 Trooz, Belgium· 5 yrs active
Sector: Specialist medical practice
(86220)
Conclusion
M-PIBOX has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €19k and a net result of €32k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 29% of 98 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Based on the State Gazette, CBE and 5 annual accounts.
Key figures
| Equity | €19k |
| Net result | €32k |
| Better than sector | 29% |
| Active | 5 yrs |
Financial profile
56
/ 100
Mixed profile: strong on profitability, weaker on solvency.
All 5 axes are computed from data Checked has read.
Health
46
Profitability
100
Solvency
10
Growth
32
Stability
94
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
More than 3 years active
Founded in 2021, past the statistically most fragile first 3 years.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
46
/ 100
Fair
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€1k
estimate, not credit advice
Score history
85
2021
100
2022
93
2023
2
2024
46
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 0.40 (< 1.0)
-10
Quick ratio
Quick ratio 0.40 (< 0.6)
-5
Leverage
Debt/equity 5.72 (> 3.0)
-10
Profitability
ROE 167% (≥ 10%)
+10
Interest coverage
Interest coverage 2.5×
+3
Profit trend
Net profit up YoY
+5
Equity growth
Equity growing YoY
+3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 30-01-2026 with the NBB · fiscal year 2025 · full schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
volatile
Too volatile to project: the yearly deviation from the trend is ~41% of the level (threshold 35%). We therefore deliberately show no projection line.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 86, Human health activities · compared within the same schema type (full schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 14.9% | 43.6% | |
| Net result | €32k | €49k | |
| Equity | €19k | €111k | |
| Gross operating margin | €106k | €159k | |
| Total assets | €130k | €415k |
€106k
+44.1%
21-25
€32k
-
21-25
€58k
+751.4%
21-25
€130k
-18.2%
21-25
€19k
+867.1%
21-25
€-60k
+31.4%
21-25
€5k
+3.7%
21-25
€355k
-
21-25
€111k
-29.5%
21-25
€101k
-26.3%
21-25
€9k
-51.9%
21-25
0.40
+12.3%
21-25
0.40
+12.3%
21-25
14.9%
+1081.8%
21-25
5.72
-92.7%
21-25
167.2%
-
21-25
24.9%
-
21-25
2.46
+108.0%
21-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Deposit | full schema | full schema | full schema | full schema | full schema |
| Revenue | - | - | - | - | - |
| EBITDA | €106k | €73k | €157k | €293k | €160k |
| Net profit | €32k | €-16k | €93k | €218k | €121k |
| Cash flow | €58k | €7k | €113k | €236k | €126k |
| Staff costs | - | - | - | - | - |
| Income taxes | €5k | €5k | €11k | €58k | €34k |
| Dividends | - | €355k | - | - | - |
| Total assets | €130k | €159k | €472k | €392k | €227k |
| Equity | €19k | €2k | €373k | €306k | €123k |
| Debt | €111k | €157k | €98k | €87k | €104k |
| of which ≤ 1y | €101k | €137k | €81k | €67k | €60k |
| of which > 1y | €9k | €20k | €17k | €19k | €45k |
| Working capital | €-60k | €-88k | €273k | €253k | €90k |
| Employees (FTE) | - | - | - | - | - |
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 0.40 | 0.36 | 4.36 | 4.75 | 2.50 |
| Quick ratio | 0.40 | 0.36 | 4.36 | 4.75 | 2.50 |
| Working capital ratio | -46.4% | -55.3% | 57.8% | 64.4% | 39.5% |
| Solvency | 14.9% | 1.3% | 79.1% | 77.9% | 54.1% |
| Debt / equity | 5.72 | 78.38 | 0.26 | 0.28 | 0.36 |
| Long-term debt ratio | 0.49 | 9.81 | 0.05 | 0.06 | 0.36 |
| Interest coverage | 2.46 | 1.18 | 4.05 | 441.29 | - |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | 24.9% | -10.2% | 19.6% | 55.6% | 53.2% |
| ROE | 167.2% | -808.9% | 24.8% | 71.3% | 98.4% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (23 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €130k | €159k | €472k | €392k | €227k |
| Fixed assets | 21/28 | €89k | €109k | €118k | €72k | €78k |
| Tangible fixed assets | 22/27 | €89k | €109k | €118k | €72k | €78k |
| Current assets | 29/58 | €41k | €49k | €354k | €320k | €149k |
| Amounts receivable within one year | 40/41 | €31k | €24k | €312k | €221k | €60k |
| Cash & bank | 54/58 | €10k | €25k | €41k | €99k | €89k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €130k | €159k | €472k | €392k | €227k |
| Equity | 10/15 | €19k | €2k | €373k | €306k | €123k |
| Contributions / capital | 10/11 | €2k | €2k | €2k | €2k | - |
| Reserves | 13 | €17k | - | - | - | - |
| Accumulated profits (losses) | 14 | - | - | €371k | €304k | €121k |
| Amounts payable | 17/49 | €111k | €157k | €98k | €87k | €104k |
| Amounts payable after one year | 17 | €9k | €20k | €17k | €19k | €45k |
| Amounts payable within one year | 42/48 | €101k | €137k | €81k | €67k | €60k |
| Trade debts payable within one year | 44 | €2k | €13k | €4k | - | - |
| Income statement | ||||||
| Gross operating margin | 9900 | €106k | €74k | €158k | €293k | €160k |
| Operating result | 9901 | €80k | €50k | €137k | €275k | €155k |
| Financial income | 75 | - | - | €5k | €1k | - |
| Financial charges | 65 | €43k | €62k | €39k | €663 | €201 |
| Result before taxes | 9903 | €37k | €-12k | €103k | €276k | €155k |
| Income taxes | 67/77 | €5k | €5k | €11k | €58k | €34k |
| Net result for the period | 9904 | €32k | €-16k | €93k | €218k | €121k |
| Result to be appropriated | 9905 | €32k | €-16k | €93k | €218k | €121k |
Legal Structure
| NACE primary | Specialist medical practice(86220) |
| Legal form | Private limited company(610) |
| Incorporation | 12-01-2021 |
| Status | Active |
| Postal code | 4870 |
Establishment units
M-PIBOX
since 20212.313.296.976
Real-estate footprint
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62041C0328/00D000 | Wallonia | 3,823 m² | 1 · 79 m² | 8.0 m · 2 fl. |
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates
Next filing, fiscal year 2026, expected by
2026
30-01
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
30-06
Financial
Back to profitnet €32k
Net result €32k after one loss-making year.
02-01
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
30-06
Financial
Weakest financial yearnet €-16k ▼117%
Net result drops to €-16k, the lowest in the series; recovery starts the following year.
23-01
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-01
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
30-06
Financial
Highest result since 2021net €218k ▲80.8%
Operating result €275k, net result €218k, both a record.
30-06
Financial
Equity above €200kEq €306k ▲149%
2 profitable years in a row build equity to €306k.
2021
17-12
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
Specialist medical practice86220
Names & trade names
| Legal nameFR | M-PIBOX |
Similar companies
DOKTER JOKE YSENBAERT
BE 0697.728.621 · Roeselare
Dr. Leen Sinnaeve
BE 0716.679.748 · Oostkamp
NEFROLOGIE IEPER
BE 0724.846.158 · Ieper
Dr. Camille Le Moine, Reumatologie
BE 1015.342.748 · Lede
LSANE
BE 0638.889.609 · Kortrijk