M Sales
M Sales has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-175k) and a net result of €3k. Equity is shrinking by ~52.4% per year across the filed fiscal years. Its solvency ranks better than 8% of 7728 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
| Equity | €-175k |
| Net result | €3k |
| Staff (FTE) | 0.4 |
| Better than sector | 8% |
Fragile profile, watch profitability in particular.
All 5 axes are computed from data Checked has read.
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).
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | -31.0% | 44.7% | |
| Net result | €3k | €31k | |
| Equity | €-175k | €398k | |
| Gross operating margin | €87k | €211k | |
| Staff costs | €10k | €189k |
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Deposit | abbreviated schema | abbreviated schema | abbreviated schema | micro schema |
| Revenue | - | - | - | - |
| EBITDA | €77k | €-28k | €-57k | €59k |
| Net profit | €3k | €-79k | €-118k | €14k |
| Cash flow | €4k | €-78k | €-117k | €16k |
| Staff costs | €10k | €3k | - | - |
| Income taxes | €-7 | €3k | €6k | €6k |
| Dividends | - | - | - | - |
| Total assets | €566k | €470k | €466k | €356k |
| Equity | €-175k | €-179k | €-100k | €19k |
| Debt | €741k | €649k | €565k | €337k |
| of which ≤ 1y | €280k | €348k | €337k | €233k |
| of which > 1y | €435k | €290k | €228k | €104k |
| Working capital | €280k | €114k | €123k | €121k |
| Employees (FTE) | 0.4 | 0.2 | - | - |
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Current ratio | 2.00 | 1.33 | 1.36 | 1.52 |
| Quick ratio | 0.73 | 0.59 | 0.72 | 0.73 |
| Working capital ratio | 49.5% | 24.2% | 26.4% | 33.9% |
| Solvency | -31.0% | -38.0% | -21.4% | 5.3% |
| Debt / equity | -4.22 | -3.63 | -5.68 | 17.89 |
| Long-term debt ratio | -2.48 | -1.62 | -2.30 | 5.52 |
| Interest coverage | 1.04 | -0.60 | -1.05 | 1.50 |
| Gross margin | - | - | - | - |
| Net margin | - | - | - | - |
| ROA | 0.6% | -16.9% | -25.4% | 3.9% |
| ROE | -1.9% | 44.3% | 119.0% | 74.2% |
| EBITDA margin | - | - | - | - |
| Days sales outstanding | - | - | - | - |
| Days payable outstanding | - | - | - | - |
| Inventory turnover | - | - | - | - |
| Days inventory (DSI) | - | - | - | - |
Full annual accounts (27 line items)
| Line item | Code | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Balance sheet, Assets | |||||
| TOTAL ASSETS | 20/58 | €566k | €470k | €466k | €356k |
| Fixed assets | 21/28 | €6k | €8k | €6k | €3k |
| Intangible fixed assets | 21 | - | - | €515 | €2k |
| Tangible fixed assets | 22/27 | €4k | €3k | €550 | €1k |
| Financial fixed assets | 28 | €1k | €5k | €5k | - |
| Current assets | 29/58 | €560k | €462k | €460k | €354k |
| Stocks & contracts in progress | 3 | €355k | €256k | €218k | €183k |
| Amounts receivable within one year | 40/41 | €198k | €197k | €233k | €157k |
| Investments | 50/53 | - | €1k | €1k | €1k |
| Cash & bank | 54/58 | €2k | €3k | €2k | €5k |
| Balance sheet, Equity & liabilities | |||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €566k | €470k | €466k | €356k |
| Equity | 10/15 | €-175k | €-179k | €-100k | €19k |
| Contributions / capital | 10/11 | €500 | €500 | €500 | €500 |
| Reserves | 13 | €1k | €1k | €1k | €1k |
| Accumulated profits (losses) | 14 | €-177k | €-180k | €-101k | €17k |
| Amounts payable | 17/49 | €741k | €649k | €565k | €337k |
| Amounts payable after one year | 17 | €435k | €290k | €228k | €104k |
| Amounts payable within one year | 42/48 | €280k | €348k | €337k | €233k |
| Trade debts payable within one year | 44 | €136k | €120k | €98k | €37k |
| Income statement | |||||
| Gross operating margin | 9900 | €87k | €-9k | €-56k | €63k |
| Operating result | 9901 | €77k | €-29k | €-59k | €58k |
| Financial income | 75 | €709 | €313 | €62 | €1k |
| Financial charges | 65 | €74k | €47k | €54k | €40k |
| Result before taxes | 9903 | €3k | €-76k | €-113k | €20k |
| Income taxes | 67/77 | €-7 | €3k | €6k | €6k |
| Net result for the period | 9904 | €3k | €-79k | €-118k | €14k |
| Result to be appropriated | 9905 | €3k | €-79k | €-118k | €14k |
-
Matthew van GeffenDirectorState Gazette act 22322794 (05-04-2022)Current05-04-2022 → present
2 events
- 05-04-2022 Appointed· Director
- 05-04-2022 Resigned· Manager
| NACE primary | Non-specialised wholesale trade(46900) |
| Legal form | Private limited company(610) |
| Incorporation | 25-09-2007 |
| Status | Active |
| Postal code | 2000 |
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11807G0154/00T003 | Flanders | 197 m² | 1 · 174 m² | 23.4 m · 7 fl. |
We know of 6 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
31-05-2023 Registered office moved from Brasschaat to Antwerpen
- Frilinglei 131 te 2930 Brasschaat → August Michielsstraat 14 bus 12/001 te 2000 Antwerpen
Technical details
{
"events": [
{
"kind": "zetel_transfer",
"seat_type": "siege_social",
"new_address": {
"raw": "August Michielsstraat 14 bus 12/001 te 2000 Antwerpen",
"city": "Antwerpen",
"region": "vlaams_gewest",
"street": "August Michielsstraat",
"country": "BE",
"postcode": "2000",
"box_number": "12/001",
"street_number": "14",
"locality_suffix": null
},
"old_address": {
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"city": "Brasschaat",
"region": "vlaams_gewest",
"street": "Frilinglei",
"country": "BE",
"postcode": "2930",
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"street_number": "131",
"locality_suffix": null
},
"effective_date": "2023-01-01",
"evidence_quote": "",
"region_changed": false,
"is_statute_change": true,
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"old_address_source": "header_volledig_adres",
"statute_clause_text": null,
"statute_article_number": null,
"effective_date_qualifier": "absolute",
"statutaire_vs_werkelijke": "statutaire",
"linguistic_region_changed": false,
"court_jurisdiction_changed": false,
"effective_date_is_approximate": false
}
],
"notary": {
"name": null,
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"is_associated": false
},
"act_meta": {
"language": "nl",
"pub_date": "2023-05-31",
"filing_date": "2023-05-15",
"act_kind_objet": "Onderwerp akte:"
},
"decision": {
"body": "enige_bestuurder",
"date": "2023-05-15",
"unanimous": null
},
"subject_company": {
"kbo": "0892.305.077",
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"legal_form": "BV",
"_kbo_filled_from_list": true
},
"publication_proxy": {
"kind": "org",
"org_kbo": null,
"org_name": "B\u0026L accounting",
"person_name": null,
"org_rep_person_name": "Steve Rau",
"person_role_at_subject": null
},
"co_filed_documents": [
"Uittreksel uit het verslag van de bestuurder d.d. 19/04/2023"
]
}05-04-2022 1 director appointed, 1 resigning
- Matthew van Geffen, Bestuurder
- Matthew van Geffen, Zaakvoerder
Technical details
{
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"name": "B\u0026L Accounting",
"address": "Miksebaan 150 A, 2930 Brasschaat",
"country": "BE",
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}
],
"notary": {
"name": "Marie Neut",
"firm_city": null,
"firm_name": null,
"office_city": "Antwerpen-Ekeren",
"is_associated": false
},
"act_meta": {
"language": "nl",
"pub_date": "2022-04-05",
"filing_date": "2022-04-01",
"act_kind_objet": "WIJZIGING RECHTSVORM, ONTSLAGEN, BENOEMINGEN"
},
"decisions": [
{
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"co_filed_documents": [
"volledig afschrift",
"geco\u00F6rdineerde statuten",
"verslag bestuursorgaan inzake omzetting",
"verslag bedrijfsrevisor inzake omzetting"
],
"corrected_publication_numac": null
}| Legal nameNL | M Sales |