Checked.be
Active
BE 0464.431.050Private limited company
M.T.S.
Voetweg 7 ·3900 Pelt, Belgium· 27 yrs active
Sector: Manufacture of electrical equipment
(27900)
Conclusion
M.T.S. has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €261k and a net result of €16k. Equity is growing by ~15.1% per year across the filed fiscal years. Its solvency ranks better than 92% of 181 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Based on the State Gazette, CBE and 5 annual accounts.
Key figures
| Equity | €261k |
| Net result | €16k |
| Better than sector | 92% |
| Active | 27 yrs |
Financial profile
79
/ 100
Exceptional profile, strong across almost every axis.
All 5 axes are computed from data Checked has read.
Health
86
Profitability
30
Solvency
100
Growth
78
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Long-established
Founded in 1998, 27 years in business.
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
86
/ 100
Excellent
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
€22k
estimate, not credit advice
Score history
86
2021
94
2022
100
2023
93
2024
86
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 8.40 (≥ 1.5)
+10
Quick ratio
Quick ratio 8.40 (≥ 1.0)
+5
Leverage
Debt/equity 0.11 (< 1.0)
+10
Profitability
ROE 6%
+3
Interest coverage
Interest coverage 114.0× (≥ 3×)
+8
Profit trend
Net profit down YoY
-3
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 31-08-2026 with the NBB · fiscal year 2025 · micro schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Equity: growth of ~15.1%/year over 5 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
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 27, Manufacture of electrical equipment · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 89.9% | 50.4% | |
| Net result | €16k | €6k | |
| Equity | €261k | €69k | |
| Gross operating margin | €44k | €29k | |
| Total assets | €291k | €165k |
€43k
-45.7%
21-25
€16k
-41.2%
21-25
€38k
-2.7%
21-25
€291k
+0.1%
21-25
€261k
+5.7%
21-25
€218k
+18.6%
21-25
€16k
+904.5%
21-25
€9k
-79.3%
21-25
€2k
-50.2%
21-25
€29k
-31.8%
21-25
€29k
-31.8%
21-25
8.40
+59.8%
21-25
8.40
+59.8%
21-25
89.9%
+5.6%
21-25
0.11
-35.4%
21-25
6.0%
-44.4%
21-25
5.4%
-41.3%
21-25
113.98
-26.5%
21-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema | micro schema | abbreviated schema |
| Revenue | - | - | - | - | - |
| EBITDA | €43k | €80k | €68k | €19k | €13k |
| Net profit | €16k | €27k | €55k | €16k | €6k |
| Cash flow | €38k | €39k | €69k | €19k | €13k |
| Staff costs | - | - | €16k | €2k | €28k |
| Income taxes | €9k | €41k | - | - | - |
| Dividends | €2k | €3k | - | - | - |
| Total assets | €291k | €290k | €303k | €221k | €192k |
| Equity | €261k | €247k | €224k | €168k | €152k |
| Debt | €29k | €43k | €50k | €53k | €40k |
| of which ≤ 1y | €29k | €43k | €50k | €53k | €40k |
| of which > 1y | - | - | - | - | - |
| Working capital | €218k | €184k | €216k | €164k | €145k |
| Employees (FTE) | - | - | - | - | - |
Note: these years are not on the same basis. The filed schemas differ (micro schema, abbreviated schema), so the columns are not directly comparable.
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 8.40 | 5.26 | 5.33 | 4.10 | 4.64 |
| Quick ratio | 8.40 | 5.26 | 5.33 | 4.10 | 4.63 |
| Working capital ratio | 75.1% | 63.4% | 71.4% | 74.1% | 75.4% |
| Solvency | 89.9% | 85.1% | 73.9% | 76.1% | 79.3% |
| Debt / equity | 0.11 | 0.17 | 0.22 | 0.31 | 0.26 |
| Long-term debt ratio | - | - | - | - | - |
| Interest coverage | 113.98 | 155.19 | 169.13 | 129.05 | 292.33 |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | 5.4% | 9.2% | 18.3% | 7.3% | 3.4% |
| ROE | 6.0% | 10.8% | 24.8% | 9.6% | 4.2% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (26 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 | €291k | €290k | €303k | €221k | €192k |
| Fixed assets | 21/28 | €43k | €63k | €37k | €4k | €7k |
| Tangible fixed assets | 22/27 | €43k | €63k | €37k | €4k | €7k |
| Financial fixed assets | 28 | €50 | €50 | €50 | €50 | €50 |
| Current assets | 29/58 | €248k | €227k | €266k | €217k | €184k |
| Stocks & contracts in progress | 3 | €50 | €50 | €50 | €50 | €100 |
| Amounts receivable within one year | 40/41 | €37k | €48k | €85k | €58k | €39k |
| Investments | 50/53 | - | €100k | - | - | - |
| Cash & bank | 54/58 | €208k | €77k | €181k | €159k | €146k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €291k | €290k | €303k | €221k | €192k |
| Equity | 10/15 | €261k | €247k | €224k | €168k | €152k |
| Contributions / capital | 10/11 | €19k | €19k | €19k | €19k | €19k |
| Reserves | 13 | €44k | €28k | €2k | €2k | €2k |
| Accumulated profits (losses) | 14 | €198k | €200k | €203k | €148k | €132k |
| Provisions & deferred taxes | 16 | - | - | €29k | - | - |
| Amounts payable | 17/49 | €29k | €43k | €50k | €53k | €40k |
| Amounts payable within one year | 42/48 | €29k | €43k | €50k | €53k | €40k |
| Trade debts payable within one year | 44 | €28k | €29k | €47k | €43k | €35k |
| Income statement | ||||||
| Gross operating margin | 9900 | €44k | €57k | €116k | €22k | €42k |
| Operating result | 9901 | €21k | €67k | €54k | €16k | €6k |
| Financial income | 75 | €4k | €1k | €2k | €15 | €0 |
| Financial charges | 65 | €379 | €512 | €401 | €150 | €45 |
| Result before taxes | 9903 | €24k | €68k | €55k | €16k | €6k |
| Income taxes | 67/77 | €9k | €41k | - | - | - |
| Net result for the period | 9904 | €16k | €27k | €55k | €16k | €6k |
| Result to be appropriated | 9905 | €16k | €27k | €55k | €16k | €6k |
Legal Structure
| NACE primary | Manufacture of electrical equipment(27900) |
| Legal form | Private limited company(610) |
| Incorporation | 23-10-1998 |
| Status | Active |
| Postal code | 3900 |
Establishment units
Voetweg 7, 3900 Pelt
since 19982.089.702.969
Real-estate footprint
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 72502E0584/00B009 | Flanders | 772 m² | 1 · 194 m² | - |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
30-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 30 days late
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
31-12
Financial
Highest result since 2021net €55k ▲243%
Net result €55k, the highest in the series.
31-12
Financial
Equity above €200kEq €224k ▲32.9%
3 profitable years in a row build equity to €224k.
17-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
27-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 31 days late
2020
14-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 30 days late
07-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 372 days late
2017
10-04
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated 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
Manufacture of electrical equipment2790031622
Names & trade names
| Legal nameNL | M.T.S. |
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