MORGALINE
ActiveSummary
MORGALINE has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €2.68M and a net result of €22k. Equity is growing by ~17.2% per year across the filed fiscal years. Its solvency ranks better than 59% of 37956 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
78
/ 100
Excellent
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability65▲+3
Solvency92▲+3
Growth52=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €200k at 30 days acceptable
Liquidity short (current ratio 0.98 against 1.29 in 2023; short-term debt: 5.3% and cash: 1.5% of total assets), and 33.3% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Sector 70
lower
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
66.7%
Return on assets
0.5%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 12-06-2025, 49 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
49 d early
2023
30 d early
2022
49 d early
2021
19 d early
2020
51 d early
2019
46 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€2.68M▲ 0.8%
2023 · €2.66M
2018: €978k
2019: €1.21M
2020: €2.52M
2021: €2.53M
2022: €2.51M
2023: €2.66M
2018 → 2024
Total assets
€4.01M▼ 3.7%
2023 · €4.16M
2018: €3.99M
2019: €4.03M
2020: €4.10M
2021: €4.54M
2022: €4.32M
2023: €4.16M
2018 → 2024
Net result
€22k▲ 58.1%
2023 · €14k
2018: €170k
2019: €233k
2020: €1.30M
2021: €14k
2022: €-17k
2023: €14k
2018 → 2024
Working capital
€-4k
2023 · €59k
2018: €-1.07M
2019: €-511k
2020: €1.06M
2021: €777k
2022: €441k
2023: €59k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€2.52M-€2.53M▲ 0.5%€2.51M▼ 0.7%€2.66M▲ 5.6%€2.68M▲ 0.8%
Operating result€647k-€68k▼ 89.5%€27k▼ 59.6%€56k▲ 104%€71k▲ 27.5%
Net result€1.30M-€14k▼ 98.9%€-17k€14k€22k▲ 58.1%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 28% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €4.01M
Fixed assets
€3.80M ▼ 2.4%
Current assets
€207k ▼ 21.5%
Equity and liabilities €4.01M
Equity
€2.68M ▲ 0.8%
Provisions
€26k ▼ 3.3%
Debt
€1.31M ▼ 11.7%
Debt's share of the balance-sheet total falls from 35.6% to 32.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€226k▲
2023 · €214k
Cash flow
€177k▲
2023 · €172k
Current ratio
0.98▼
2023 · 1.29
Debt to equity
0.49▼
2023 · 0.56
ROE
0.8%▲
2023 · 0.5%
ROA
0.5%▲
2023 · 0.3%
Interest coverage
5.51▲
2023 · 5.12
Debt ≤ 1 year
€211k▲
2023 · €205k
Debt > 1 year
€1.09M▼
2023 · €1.27M
Income taxes
€13k▲
2023 · €4k
Staff costs
€42k▲
2023 · €29k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 51 lines
Balance sheet
Code20232024
Assets
Total assets20/58€4.16M€4.01M▼
Fixed assets21/28€3.90M€3.80M▼
Tangible fixed assets22/27€3.90M€3.80M▼
Land and buildings22€3.85M€3.77M▼
Furniture and vehicles24€51k€31k▼
Current assets29/58€264k€207k▼
Amounts receivable within one year40/41€38k-
Trade receivables40€37k-
Other amounts receivable41€527-
Current investments50/53€200k€141k▼
Cash at bank and in hand54/58€21k€60k▲
Deferred charges and accrued income490/1€6k€6k▲
Equity and liabilities
Total equity and liabilities10/49€4.16M€4.01M▼
Equity10/15€2.66M€2.68M▲
Contributions10/11€149k€149k=
Reserves13€2.51M€2.53M▲
Tax-exempt reserves132€81k€78k▼
Distributable reserves133€2.43M€2.45M▲
Provisions and deferred taxes16€27k€26k▼
Deferred taxes168€27k€26k▼
Amounts payable17/49€1.48M€1.31M▼
Amounts payable after more than one year17€1.27M€1.09M▼
Financial debts170/4€846k€666k▼
Other amounts payable178/9€427k€426k▼
Amounts payable within one year42/48€205k€211k▲
Current portion of amounts payable after more than one year42€147k€126k▼
Trade debts44€2k€6k▲
Suppliers440/4€2k€6k▲
Taxes, remuneration and social security45€24k€36k▲
Taxes450/3€20k€32k▲
Remuneration and social security454/9€4k€4k▼
Other amounts payable47/48€32k€44k▲
Accrued charges and deferred income492/3€3k€5k▲
Income statement
Code20232024
Remuneration, social security and pensions62€29k€42k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€158k€155k▼
Other operating charges640/8€19k€19k▲
Gross operating margin9900€262k€288k▲
Operating profit (loss)9901€56k€71k▲
Financial income75/76B€2k€3k▲
Recurring financial income75€2k€3k▲
Financial charges65/66B€42k€41k▼
Recurring financial charges65€42k€41k▼
Profit (loss) for the period before taxes9903€17k€34k▲
Transfer from deferred taxes780€903€903=
Income taxes67/77€4k€13k▲
Profit (loss) for the period9904€14k€22k▲
Transfer from tax-exempt reserves789€3k€3k=
Profit (loss) for the period to be appropriated9905€16k€24k▲
Appropriation of the result
Profit (loss) to be appropriated9906€16k€24k▲
Transfer to equity691/2€16k€24k▲
To other reserves6921€16k€24k▲
The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
12-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
01-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €14k
Net result €14k after one loss-making year.
12-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Weakest financial yearnet €-17k ▼227%
Net result drops to €-17k, the lowest in the series; recovery starts the following year.
12-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
10-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Highest result since 2018net €1.30M ▲458%
Operating result €647k, net result €1.30M, both a record.
31-12
Financial
Liquidity times 7current ratio 3.90
Current ratio from 0.58 to 3.90; short-term debt falls from €1.23M to €366k.
31-12
Financial
Equity above €2MEq €2.52M ▲108%
3 profitable years in a row build equity to €2.52M.
15-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Equity above €1MEq €1.21M ▲23.9%
2 profitable years in a row build equity to €1.21M.
Show earlier events
04-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
11-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
08-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
19-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
4 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Evere · 1 establishment unit since 2007
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Leuvensesteenweg 9231140 EvereGround area
165 m²
Building footprint
119 m²
Volume, LiDAR
1,384 m³
Parcel 21372C0076/00V002, Brussels · tallest building 14.1 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
Leuvensesteenweg 923, 1140 Evere
since 20072.166.338.810
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21372C0076/00V002 | Brussels | 165 m² | 1 · 119 m² | 14.1 m · 4 fl. |
Linked by address, not proof of ownership
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.
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TJE INVEST
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Of 82,562 companies in sector 70200 we hold annual accounts for 52,574. 16,977 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded14-08-2007
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
Sources
Crossroads Bank for EnterprisesNational Bank · 17 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.