Financials
- Fiscal year
- 2025
- Turnover
- €57.0m
- Loss
- -€3.7m
- Solvency
- -0.7%
Turnover▲ 6.0%
Net result
20182025
Molenbergnatie
ActiveSummary
The computed 12-month bankruptcy probability of Molenbergnatie is 6.0% (elevated). The 2025 annual accounts show negative equity (-€233,176) and a net result of -€3.7m. Equity is shrinking by ~9.5% per year across the filed fiscal years. Its solvency ranks better than 10% of 846 sector peers (fiscal year 2025). The company has been active since 1888 and the Belgian State Gazette contains no insolvency or warning signals.
Overview
Activity
Warehousing and support activities for transportation
NACE 52249Warehousing and storage NACE 52100NACE 63112
#1 oldest company in Belgium, Transport and storage sector5 sites
Size
€57.0mturnover 2025
- Staff
- 62 FTE
- Equity
- -€233,176
- Loss
- -€3.7m
Structure
- Parent
- ILOMAR HOLDING · 99.99%
- Board
- 4 members
- Holdings
- 2
Auditor: PricewaterhouseCoopers Reviseurs d'EntreprisesAccounts filed 47 d late
Why 34- Negative equity -€233,176- Loss of €3.7m, the second in a row (FY 2025)- Liquidity: current ratio 0.71, cash €3,130- Sector Warehousing and support activities for transportation (NACE 52)Show the evidence
Checked score
Score 2025
34
/ 100
Weak
Probability in this band: 4.2% to 15.0%
Better than 12% of its sector peers (NACE 52, medium-sized)
Performance against the sector, not lower risk
Financial strength · tick = 2024
Weak
Solvency
24-11
equity -0.7% of total assets
Liquidity
0-1
short-term debt 99.7% · cash 0.0%
Profitability
3-12
return on assets -11.7%
Bankruptcy probability, 12 months
6.0%
Elevated
0%0.5%1.5%4%10%≥ 25%
About 6 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
11-2024: 1.7%
12-2024: 1.7%● 0.0% vs 11-2024
01-2025: 1.7%● 0.0% vs 12-2024
02-2025: 1.6%▼ -3.1% vs 01-2025
03-2025: 1.6%▲ +1.2% vs 02-2025
04-2025: 1.6%● 0.0% vs 03-2025
05-2025: 1.6%● 0.0% vs 04-2025
06-2025: 1.7%▲ +2.5% vs 05-2025
07-2025: 1.9%▲ +10.4% vs 06-2025
08-2025: 1.4%▼ -25.4% vs 07-2025
09-2025: 1.4%● 0.0% vs 08-2025
10-2025: 1.4%● 0.0% vs 09-2025
11-2025: 1.4%● 0.0% vs 10-2025
12-2025: 1.4%● 0.0% vs 11-2025
01-2026: 1.4%● 0.0% vs 12-2025
02-2026: 1.3%▼ -3.2% vs 01-2026lowest value
03-2026: 1.4%▲ +1.3% vs 02-2026
04-2026: 1.4%● 0.0% vs 03-2026
05-2026: 1.4%● 0.0% vs 04-2026
06-2026: 1.4%▲ +2.1% vs 05-2026
07-2026: 1.4%▲ +1.4% vs 06-2026
08-2026: 2.1%▲ +53.0% vs 07-2026
09-2026: 2.6%▲ +22.6% vs 08-2026
10-2026: 6.0%▲ +128% vs 09-2026highest value
- Negative equity -€233,176 raises the probability
- Loss of €3.7m, the second in a row (FY 2025) raises the probability
- Liquidity: current ratio 0.71, cash €3,130 raises the probability
- Sector Warehousing and support activities for transportation (NACE 52) raises the probability
No credit on open account
Liquidity short (current ratio 0.71 against 0.87 in 2024; short-term debt: 99.7% and cash: 0% of total assets), and equity is negative.
How it is calculated
The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (NACE 52, medium-sized). Better than this share of them on solvency 11%, liquidity 1%, profitability 5%, growth against the median 31%. That is performance, not lower risk; the band itself always comes from the probability.
Bankruptcy probability: model pd-v3.202610021621, computed on 03-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.
Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.
Credit check for your own amount and term
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Signals
Six signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€233,176
neutral · A punctual record breaks
This company filed 5 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 16-09-2026, 47 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
47 d late
2024
15 d early
2023
20 d early
2022
40 d early
2021
38 d early
2020
37 d early
2019
54 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 7 days before the deadline; the sector median for financial year 2024 is 8 days before the deadline, and 36% of the sector filed late.
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. Usually files around 12 July (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
04-10-2026 today31-12-2026 close31-07-2027 deadline
- Annual accounts filedfiscal year 2025 · full…
- Resignation: Hervé Sahores (director)Appointment: Erwan Saint M'Leux (director)…
- Resignation: Davy Gorselé Advocaat BV (director)Permanent representative: Davy Gorselé ·…
Key points
- Risk: Negative equityfiscal year 2025: debts exceed assets -€233,176 View
- Risk: 5 loss-making years in a rowloss fiscal year 2025 -€3.7m View
- Caution: Result fell in 2025from -€1.2m to -€3.7m ▼ 210% View
- Caution: Among the weakest 5% on net resultsector median €111,762 · 839 companies -€3.7m View
- Board changedlatest change 07-07-2026 · 4 in office 3 joined · 3 left View
- Controlled by ILOMAR HOLDINGultimately: LOUIS DREYFUS COMPANY B.V. 99.99% View
- Active since 1888founded 24-02-1888 138 years View
By topic
Board & ownership
- Board
- 4 members
- Parent
- ILOMAR HOLDING · 99.99%
- Auditor
- PricewaterhouseCoopers Reviseurs d'Entreprises
Go to Board & ownership
Network & group
- Group
- LOUIS DREYFUS COMPANY B.V.
- Subsidiaries
- 1
- Holdings
- 2
- Connected companies
- 11
2 holdings
Timeline
- Events
- 47
- Since
- 2005
- Next accounts
- by 31-07-2027
- 16-09-2026Annual accounts filed
- 07-08-2026Resignation: Hervé Sahores (director)
- 02-04-2026Resignation: Davy Gorselé Advocaat BV (director)
Company details
- Sites
- 5
- Legal form
- Public limited company
- Activity
- Warehousing and support activities for transportationNACE 52249
- Founded
- 24-02-1888
- Year ends
- 31-12
- Peppol
- Reachable for e-invoices
Articles of association
- Provisions read
- 1
- Purpose
- Het leveren van volgende diensten met betrekking tot, allerhande goederen en koopwaren…
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