MULTI LOGISTICS
ActiveSummary
MULTI LOGISTICS has been active since 1992 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €4.29M and a net result of €-226k. Equity is growing by ~17.2% per year across the filed fiscal years. Its solvency ranks better than 35% of 928 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability50▼-3
Solvency53▼-5
Growth52=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €280k at 30 days acceptable
Liquidity short (current ratio 0.86 against 0.75 in 2024; short-term debt: 10.1% and cash: 7.8% of total assets), and 71.7% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 82
Relative position
BE, all sectors
reference
Office administrative, office support and other business support activities (NACE 82)
about 37% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
28.3%
Return on assets
-1.5%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
19202122232425
2019 to 2025 · latest year €-226k
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
28 d late
2024
30 d late
2023
20 d early
2022
14 d early
2021
60 d early
2020
30 d late
2019
on the day
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-226k▼ 4.9%
2024 · €-215k
2019: €-2k
2020: €468k▲ +27797% vs 2019
2021: €64k▼ -86.4% vs 2020
2022: €132k▲ +107% vs 2021
2023: €2.33M▲ +1662% vs 2022highest in 7 years
2024: €-215k▼ -109% vs 2023
2025: €-226k▼ -4.9% vs 2024lowest in 7 years
2019 → 2025
Working capital
€-209k▲ 38.4%
2024 · €-339k
2019: €-221k
2020: €-306k▼ -38.1% vs 2019
2021: €-198k▲ +35.1% vs 2020
2022: €-2.50M▼ -1158% vs 2021lowest in 7 years
2023: €383k▲ +115% vs 2022highest in 7 years
2024: €-339k▼ -188% vs 2023
2025: €-209k▲ +38.4% vs 2024
2019 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€2.27M-€2.41M▲ 5.8%€4.73M▲ 96.6%€4.52M▼ 4.6%€4.29M▼ 5.0%
2021: €2.27Mlowest in 5 years
2022: €2.41M▲ +5.8% vs 2021
2023: €4.73M▲ +96.6% vs 2022highest in 5 years
2024: €4.52M▼ -4.6% vs 2023
2025: €4.29M▼ -5.0% vs 2024
Operating result€125k-€227k▲ 81.4%€187k▼ 17.6%€-3k€61k
2021: €125k
2022: €227k▲ +81.4% vs 2021highest in 5 years
2023: €187k▼ -17.6% vs 2022
2024: €-3k▼ -102% vs 2023lowest in 5 years
2025: €61k▲ +2071% vs 2024
Net result€64k-€132k▲ 107%€2.33M▲ 1,662%€-215k€-226k▼ 4.9%
2021: €64k
2022: €132k▲ +107% vs 2021
2023: €2.33M▲ +1662% vs 2022highest in 5 years
2024: €-215k▼ -109% vs 2023
2025: €-226k▼ -4.9% vs 2024lowest in 5 years
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €61k after a loss of €3k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €15.14M
Fixed assets
€13.82M ▲ 9.6%
Current assets
€1.32M ▲ 31.9%
Equity and liabilities €15.14M
Equity
€4.29M ▼ 5.0%
Provisions
€643k ▼ 7.5%
Debt
€10.20M ▲ 21.5%
Debt's share of the balance-sheet total rises from 61.7% to 67.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€876k▲
2024 · €814k
Cash flow
€589k▼
2024 · €601k
Current ratio
0.86▲
2024 · 0.75
Debt to equity
2.38▲
2024 · 1.86
ROE
-5.3%▼
2024 · -4.8%
ROA
-1.5%▲
2024 · -1.6%
Interest coverage
3.99▼
2024 · 4.34
Debt ≤ 1 year
€1.53M▲
2024 · €1.34M
Debt > 1 year
€8.67M▲
2024 · €7.06M
Income taxes
€134k▼
2024 · €177k
Staff costs
€42k▲
2024 · €36k
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 · 2025 against 2024 · 62 lines
Balance sheet
Code20242025
Assets
Total assets20/58€13.61M€15.14M▲
Fixed assets21/28€12.61M€13.82M▲
Intangible fixed assets21€4.24M€3.77M▼
Tangible fixed assets22/27€8.37M€10.04M▲
Land and buildings22€8.37M€10.04M▲
Financial fixed assets28€6k€5k▼
Current assets29/58€998k€1.32M▲
Amounts receivable within one year40/41€205k€88k▼
Trade receivables40€39k€87k▲
Other amounts receivable41€166k€781▼
Current investments50/53-€48k
Cash at bank and in hand54/58€787k€1.18M▲
Deferred charges and accrued income490/1€7k€4k▼
Equity and liabilities
Total equity and liabilities10/49€13.61M€15.14M▲
Equity10/15€4.52M€4.29M▼
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Reserves13€4.45M€4.23M▼
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Tax-exempt reserves132€2.09M€1.93M▼
Distributable reserves133€2.36M€2.29M▼
Provisions and deferred taxes16€695k€643k▼
Deferred taxes168€695k€643k▼
Amounts payable17/49€8.40M€10.20M▲
Amounts payable after more than one year17€7.06M€8.67M▲
Financial debts170/4€7.06M€8.67M▲
Amounts payable within one year42/48€1.34M€1.53M▲
Current portion of amounts payable after more than one year42€869k€1.07M▲
Financial debts43€20k€34k▲
Credit institutions430/8€20k€34k▲
Trade debts44€27k€8k▼
Suppliers440/4€27k€8k▼
Taxes, remuneration and social security45€106k€95k▼
Taxes450/3€98k€86k▼
Remuneration and social security454/9€8k€9k▲
Other amounts payable47/48€316k€319k▲
Accrued charges and deferred income492/3€3k€3k▲
Income statement
Code20242025
Remuneration, social security and pensions62€36k€42k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€817k€815k▼
Other operating charges640/8€92k€70k▼
Gross operating margin9900€941k€988k▲
Operating profit (loss)9901€-3k€61k▲
Financial income75/76B€65k€14k▼
Recurring financial income75€65k€14k▼
Non-recurring financial income76B€0-
Financial charges65/66B€187k€220k▲
Recurring financial charges65€187k€220k▲
Profit (loss) for the period before taxes9903€-126k€-144k▼
Transfer from deferred taxes780€87k€52k▼
Transfer to deferred taxes680€0-
Income taxes67/77€177k€134k▼
Profit (loss) for the period9904€-215k€-226k▼
Transfer from tax-exempt reserves789€261k€156k▼
Transfer to tax-exempt reserves689€0-
Profit (loss) for the period to be appropriated9905€45k€-70k▼
Appropriation of the result
Profit (loss) to be appropriated9906€45k€-70k▼
Transfer from equity791/2€0€70k▲
Transfer to equity691/2€45k€0▼
To other reserves6921€45k€0▼
Social balance
Average headcount (FTE)90871.01.0=
The notes to these accounts (24 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €41k | €30k | €35k | €36k | €42k | ▲ 17.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €113k | €175k | €237k | €817k | €815k | ▼ 0.2% |
| Other operating charges640/8 | €29k | €30k | €41k | €92k | €70k | ▼ 23.8% |
| Gross operating margin9900 | €308k | €462k | €501k | €941k | €988k | ▲ 5.0% |
| Operating profit (loss)9901 | €125k | €227k | €187k | €-3k | €61k | ▲ 2,071% |
| Financial income75/76B | €0 | - | €3.13M | €65k | €14k | ▼ 77.7% |
| Recurring financial income75 | €0 | - | €3.13M | €65k | €14k | ▼ 77.7% |
| Non-recurring financial income76B | - | - | €3.13M | €0 | - | - |
| Financial charges65/66B | €40k | €51k | €193k | €187k | €220k | ▲ 17.4% |
| Recurring financial charges65 | €40k | €51k | €193k | €187k | €220k | ▲ 17.4% |
| Profit (loss) for the period before taxes9903 | €85k | €176k | €3.12M | €-126k | €-144k | ▼ 14.8% |
| Transfer from deferred taxes780 | - | - | - | €87k | €52k | ▼ 40.1% |
| Transfer to deferred taxes680 | - | - | €782k | €0 | - | - |
| Income taxes67/77 | €22k | €44k | €16k | €177k | €134k | ▼ 24.2% |
| Profit (loss) for the period9904 | €64k | €132k | €2.33M | €-215k | €-226k | ▼ 4.9% |
| Transfer from tax-exempt reserves789 | - | - | - | €261k | €156k | ▼ 40.1% |
| Transfer to tax-exempt reserves689 | - | - | €2.35M | €0 | - | - |
| Profit (loss) for the period to be appropriated9905 | €64k | €132k | €-22k | €45k | €-70k | ▼ 255% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €5.56M | €13.22M | €14.43M | €13.61M | €15.14M | ▲ 11.2% |
| Fixed assets21/28 | €5.18M | €13.06M | €12.84M | €12.61M | €13.82M | ▲ 9.6% |
| Intangible fixed assets21 | - | - | - | €4.24M | €3.77M | ▼ 11.1% |
| Tangible fixed assets22/27 | €5.18M | €5.56M | €5.34M | €8.37M | €10.04M | ▲ 20.1% |
| Land and buildings22 | €5.18M | €5.56M | €5.34M | €8.37M | €10.04M | ▲ 20.1% |
| Financial fixed assets28 | €5k | €7.51M | €7.51M | €6k | €5k | ▼ 9.1% |
| Current assets29/58 | €378k | €161k | €1.58M | €998k | €1.32M | ▲ 31.9% |
| Amounts receivable within one year40/41 | €108k | €45k | €93k | €205k | €88k | ▼ 57.2% |
| Trade receivables40 | €9k | €10k | €7k | €39k | €87k | ▲ 124% |
| Other amounts receivable41 | €99k | €36k | €87k | €166k | €781 | ▼ 99.5% |
| Current investments50/53 | - | - | - | - | €48k | - |
| Cash at bank and in hand54/58 | €269k | €115k | €1.49M | €787k | €1.18M | ▲ 49.7% |
| Deferred charges and accrued income490/1 | €2k | €0 | - | €7k | €4k | ▼ 40.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €5.56M | €13.22M | €14.43M | €13.61M | €15.14M | ▲ 11.2% |
| Equity10/15 | €2.27M | €2.41M | €4.73M | €4.52M | €4.29M | ▼ 5.0% |
| Contributions10/11 | €62k | €62k | €62k | €62k | €62k | = |
| Capital10 | €62k | €62k | €62k | €62k | €62k | = |
| Issued capital100 | €62k | €62k | €62k | €62k | €62k | = |
| Reserves13 | €2.21M | €2.34M | €4.67M | €4.45M | €4.23M | ▼ 5.1% |
| Non-distributable reserves130/1 | €6k | €6k | €6k | €6k | €6k | = |
| Legal reserve130 | €6k | €6k | €6k | €6k | €6k | = |
| Tax-exempt reserves132 | - | - | €2.35M | €2.09M | €1.93M | ▼ 7.5% |
| Distributable reserves133 | €2.21M | €2.34M | €2.32M | €2.36M | €2.29M | ▼ 3.0% |
| Provisions and deferred taxes16 | - | - | €782k | €695k | €643k | ▼ 7.5% |
| Deferred taxes168 | - | - | €782k | €695k | €643k | ▼ 7.5% |
| Amounts payable17/49 | €3.29M | €10.82M | €8.91M | €8.40M | €10.20M | ▲ 21.5% |
| Amounts payable after more than one year17 | €2.71M | €8.16M | €7.71M | €7.06M | €8.67M | ▲ 22.9% |
| Financial debts170/4 | €2.71M | €8.16M | €7.71M | €7.06M | €8.67M | ▲ 22.9% |
| Amounts payable within one year42/48 | €577k | €2.66M | €1.20M | €1.34M | €1.53M | ▲ 14.1% |
| Current portion of amounts payable after more than one year42 | €251k | €828k | €868k | €869k | €1.07M | ▲ 23.3% |
| Financial debts43 | - | €6k | €0 | €20k | €34k | ▲ 66.6% |
| Credit institutions430/8 | - | - | - | €20k | €34k | ▲ 66.6% |
| Other loans439 | - | €6k | €0 | - | - | - |
| Trade debts44 | €6k | €5k | €11k | €27k | €8k | ▼ 70.3% |
| Suppliers440/4 | €6k | €5k | €11k | €27k | €8k | ▼ 70.3% |
| Taxes, remuneration and social security45 | €13k | €8k | €9k | €106k | €95k | ▼ 10.8% |
| Taxes450/3 | €2k | €826 | €902 | €98k | €86k | ▼ 12.7% |
| Remuneration and social security454/9 | €12k | €7k | €8k | €8k | €9k | ▲ 12.2% |
| Other amounts payable47/48 | €307k | €1.81M | €313k | €316k | €319k | ▲ 1.0% |
| Accrued charges and deferred income492/3 | €3k | €3k | €4k | €3k | €3k | ▲ 1.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €64k | €132k | €2.33M | €-215k | €-226k | ▼ 4.9% |
| + Depreciation and write-downs630 | €113k | €175k | €237k | €817k | €815k | ▼ 0.2% |
| Operating cash flow (approximation) | €176k | €307k | €2.56M | €601k | €589k | ▼ 2.0% |
| Investment in fixed assets (approximation) | - | €-8.06M | €-18k | €-585k | €-2.02M | ▼ 246% |
| Change in cash | - | €-153k | €1.38M | €-703k | €391k | ▲ 156% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 28 days late
2025
31-12
Financial
Weakest financial yearnet €-226k
Net result drops to €-226k, the lowest in the series.
30-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 30 days late
2024
11-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Highest result since 2019net €2.33M ▲1,662%
Net result €2.33M, the highest in the series.
31-12
Financial
Liquidity times 22current ratio 1.32
Current ratio from 0.06 to 1.32; short-term debt falls from €2.66M to €1.20M.
17-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
01-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 30 days late
2020
31-12
Financial
Back to profitnet €468k
Net result €468k after one loss-making year.
31-12
Financial
Equity above €2MEq €2.21M ▲26.8%
Equity rises from €1.74M to €2.21M.
2019
31-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
Show earlier events
2018
31-10
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2017
31-10
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2016
27-10
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.
0 of 5 acts read
About the unread acts
We know of 5 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
5 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, Pittem · 1 establishment unit since 1992
Ground area
1.5 ha
Building footprint
1.0 ha
Volume, LiDAR
58,263 m³
Parcel 37003C0226/00A002, Flanders · tallest building 9.6 m, ±2 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
Multi Logistics
since 19922.057.542.422
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 37003C0226/00A002 | Flanders | 1.5 ha | 1 · 1.0 ha | 9.6 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
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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Of 11,218 companies in sector 82100 we hold annual accounts for 3,511. 721 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded31-03-1992
Fiscal year end31-12
Activities, NACEBEL 2025
47120Other non-specialised retail sale
82100Office administrative and support services
Scores and ratios are computed by Checked and are not a credit decision.