Moortgat Financial Services

Active

Public limited companyfounded 198541 yrs activeBreendonk-Dorp 58, 2870 Puurs-Sint-Amands, BelgiumKBO/BCE: BE 0427.447.128

Summary

Moortgat Financial Services has been active since 1985 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €34.20M and a net result of €-267k. Equity remains stable across the filed fiscal years (±0.1% per year). The computed 12-month bankruptcy probability is 0.6% (low).

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Checked score

Score 2024

57 / 100

Fair

The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability37▼-1

Solvency65▼-12

Growth41=

Track record100

Bankruptcy probability, 12 months

0.6% Low

0%0.5%1.5%4%10%≥ 25%

Credit up to €1.9M at 30 days acceptable

Liquidity tight (current ratio 1.43 against 1.68 in 2023; short-term debt: 58.7% and cash: 11.5% of total assets), and 59.7% of the assets are financed with debt.

How do we compute the score and the probability?

Credit check for your own amount and term

Signals

Four signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

No NACE activity registered

No NACE activity is registered in the KBO, which is more common among companies that later fail.

KBO · activities

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

Lower-risk legal form

Companies with this legal form statistically fail less often than a BV.

KBO · legal form

A punctual record breaks

This company filed 9 consecutive financial years on time. The year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 01-08-2025, 1 day 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 filings

Deviation from the deadline

2025

not confirmed

2024

1 d late

2023

37 d early

2022

42 d early

2021

75 d early

2020

60 d early

2019

72 d early

← before the deadline after the deadline →

Checked, nothing found (1)

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2024, full schema

Turnover

€282k▲ 10.7%

2021 · €255k

2018: €209k 2019: €264k 2020: €214k 2021: €255k

2018 → 2022

EBIT margin

81.1%▲ 7.0pp

2021 · 74.1%

2018: -66.4% 2019: -39.0% 2020: 32.1% 2021: 74.1%

2018 → 2022

Net result

€-267k

2023 · €77k

2018: €1.29M 2019: €665k 2020: €461k 2021: €815k 2022: €775k 2023: €77k

2018 → 2024

Working capital

€21.29M▲ 1.1%

2023 · €21.06M

2018: €4.05M 2019: €13.31M 2020: €16.14M 2021: €16.96M 2022: €21.75M 2023: €21.06M

2018 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20202021202220232024Trend

Turnover€214k-€255k▲ 18.9%€282k▲ 10.7%

Equity€34.40M-€34.47M▲ 0.2%€34.49M▲ 0.1%€34.47M▼ 0.1%€34.20M▼ 0.8%

Operating result€69k-€189k▲ 174%€229k▲ 21.1%€-37k€-19k▲ 47.6%

Net result€461k-€815k▲ 76.7%€775k▼ 5.0%€77k▼ 90.1%€-267k

Result per fiscal year

Operating resultNet result

The operating result stays negative: a loss of €19k in 2024 against €37k in 2023; the loss shrinks.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €84.85M

16.2%

83.8%

Fixed assets €13.75M ▼ 2.1%

Current assets €71.10M ▲ 36.9%

Equity and liabilities €84.85M

40.3%

59.7%

Equity €34.20M ▼ 0.8%

Debt €50.65M ▲ 60.8%

Debt's share of the balance-sheet total rises from 47.7% to 59.7%. Equity is lower and debt is higher.

Key figures and ratios

2024 value · change against 2023

Current ratio

1.43▼

2023 · 1.68

Debt to equity

1.48▲

2023 · 0.91

ROE

-0.8%▼

2023 · 0.2%

ROA

-0.3%▼

2023 · 0.1%

Debt ≤ 1 year

€49.81M▲

2023 · €30.86M

Income taxes

€-9k▼

2023 · €174k

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 · 61 lines

Balance sheet Code20232024

Assets

Total assets20/58€65.97M€84.85M▲

Fixed assets21/28€14.05M€13.75M▼

Financial fixed assets28€14.05M€13.75M▼

Affiliated companies280/1€11.51M€10.41M▼

Participating interests280€5k€5k=

Amounts receivable281€11.50M€10.41M▼

Companies linked by participating interests282/3€2.54M€3.34M▲

Participating interests282€2.54M€3.34M▲

Current assets29/58€51.92M€71.10M▲

Amounts receivable within one year40/41€48.06M€61.06M▲

Other amounts receivable41€48.06M€61.06M▲

Cash at bank and in hand54/58€3.61M€9.74M▲

Deferred charges and accrued income490/1€242k€296k▲

Equity and liabilities

Total equity and liabilities10/49€65.97M€84.85M▲

Equity10/15€34.47M€34.20M▼

Contributions10/11€33.50M€33.50M=

Capital10€33.50M€33.50M=

Issued capital100€33.50M€33.50M=

Reserves13€970k€970k=

Non-distributable reserves130/1€951k€951k=

Legal reserve130€951k€951k=

Distributable reserves133€18k€18k=

Profit (loss) carried forward14-€-267k

Amounts payable17/49€31.50M€50.65M▲

Amounts payable within one year42/48€30.86M€49.81M▲

Trade debts44€20k€19k▼

Suppliers440/4€20k€19k▼

Taxes, remuneration and social security45€66k-

Taxes450/3€66k-

Other amounts payable47/48€30.78M€49.79M▲

Accrued charges and deferred income492/3€638k€845k▲

Income statement Code20232024

Operating income70/76A€37k€34k▼

Other operating income74€37k€34k▼

Operating charges60/66A€73k€53k▼

Services and other goods61€85k€77k▼

Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€-13k€-25k▼

Other operating charges640/8€1k€1k▲

Operating profit (loss)9901€-37k€-19k▲

Financial income75/76B€1.40M€1.58M▲

Recurring financial income75€1.40M€1.58M▲

Income from current assets751€1.38M€1.52M▲

Other financial income752/9€18k€62k▲

Financial charges65/66B€1.11M€1.84M▲

Recurring financial charges65€686k€730k▲

Debt charges650€662k€697k▲

Other financial charges652/9€24k€33k▲

Non-recurring financial charges66B€425k€1.11M▲

Profit (loss) for the period before taxes9903€251k€-276k▼

Income taxes67/77€174k€-9k▼

Taxes670/3€174k-

Tax adjustments and reversals of tax provisions77-€9k

Profit (loss) for the period9904€77k€-267k▼

Profit (loss) for the period to be appropriated9905€77k€-267k▼

Appropriation of the result

Profit (loss) to be appropriated9906€90k€-267k▼

Profit (loss) brought forward from the previous period14P€13k-

Transfer from equity791/2€14k-

From reserves792€14k-

Transfer to equity691/2€4k-

To the legal reserve6920€4k-

Profit to be distributed694/7€100k-

Return on contributions (dividend)694€100k-

The notes to these accounts (24 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 27Financial 1Gazette 16Filings 10

2026

10-07

State Gazette act Reappointment: Moore Audit BV (statutory auditor)

Permanent representative: Guy De Roover3 facts ▸

General meeting, 27-04-2026
Auditor reappointment, Moore Audit BV (statutory auditor)
Permanent representative, Guy De Roover

2025

17-10

State Gazette act Resignation: Krug BV (director)

Permanent representative: Daniël Krug3 facts ▸

General meeting, 28-04-2025
Director resignation, Krug BV (director)
Permanent representative, Daniël Krug

01-08

NBB filing Annual accounts filed

fiscal year 2024 · full schema · 1 day late

2024

31-12

Financial Weakest financial yearnet €-267k ▼447%

Net result drops to €-267k, the lowest in the series.

24-06

NBB filing Annual accounts filed

fiscal year 2023 · full schema

2023

24-11

State Gazette act Reappointments: Lema BV, Krug BV and 2 others

Permanent representatives: Michel Moortgat, Daniël Krug and 2 others · Mandate term12 facts ▸

General meeting, 24-04-2023
Director reappointment, Lema BV (director)
Permanent representative, Michel Moortgat
Director reappointment, Krug BV (director)
Permanent representative, Daniël Krug
Director reappointment, LP Invest BV (director)
Permanent representative, Victor Moortgat
Mandate term, onmiddellijk na de gewone algemene vergadering die zal beraadslagen over de goedkeuring van de jaarrekening met betrekking tot het boekjaar eindigend op 31 dece…
Mandate term, onmiddellijk na de gewone algemene vergadering die zal beraadslagen over de goedkeuring van de jaarrekening met betrekking tot het boekjaar eindigend op 31 dece…
Mandate term, onmiddellijk na de gewone algemene vergadering die zal beraadslagen over de goedkeuring van de jaarrekening met betrekking tot het boekjaar eindigend op 31 dece…
Auditor reappointment, De Roover & Partners Bedrijfsrevisoren (statutory auditor)
Permanent representative, Guy De Roover

19-06

NBB filing Annual accounts filed

fiscal year 2022 · full schema

23-01

State Gazette act Resignations: LEMA NV (director) and LP INVEST NV (director)

Appointments: LEMA BV (director) and LP INVEST BV (director) · Permanent representatives: Michel Moortgat and Victor Philippe Moortgat8 facts ▸

Director resignation, LEMA NV (director)
Director resignation, LEMA NV (managing director)
Director appointment, LEMA BV (director)
Director appointment, LEMA BV (managing director)
Permanent representative, Michel Moortgat
Director resignation, LP INVEST NV (director)
Director appointment, LP INVEST BV (director)
Permanent representative, Victor Philippe Moortgat

2022

17-05

NBB filing Annual accounts filed

fiscal year 2021 · full schema

2021

01-06

NBB filing Annual accounts filed

fiscal year 2020 · full schema

2020

06-10

State Gazette act Reappointment: De Roover & Partners Bedrijfsrevisoren (statutory auditor)

Permanent representative: Guy De Roover3 facts ▸

General meeting, 27-04-2020
Auditor reappointment, De Roover & Partners Bedrijfsrevisoren (statutory auditor)
Permanent representative, Guy De Roover

20-05

NBB filing Annual accounts filed

fiscal year 2019 · full schema

Show earlier events

2019

08-07

State Gazette act Reappointment: De Roover & Partners Bedrijfsrevisoren BVBA (statutory auditor)

2 facts ▸

General meeting, 29-04-2019
Auditor reappointment, De Roover & Partners Bedrijfsrevisoren BVBA

24-05

NBB filing Annual accounts filed

fiscal year 2018 · full schema

2018

06-06

NBB filing Annual accounts filed

fiscal year 2017 · full schema

17-01

State Gazette act Reappointments: Lema NV, LP Invest NV and Krug BVBA

Permanent representatives: Michel Moortgat, Victor Philippe Moortgat and Daniel Krug · Mandate end condition10 facts ▸

General meeting, 24-04-2017
Director reappointment, Lema NV (director)
Permanent representative, Michel Moortgat
Director reappointment, LP Invest NV (director)
Permanent representative, Victor Philippe Moortgat
Director reappointment, Krug BVBA (director)
Permanent representative, Daniel Krug
Mandate end condition, onmiddellijk na de gewone algemene vergadering die zal beraadslagen over de goedkeuring van de jaarrekening met betrekking tot het boekjaar eindigend op 31 dece…
Mandate end condition, onmiddellijk na de gewone algemene vergadering die zal beraadslagen over de goedkeuring van de jaarrekening met betrekking tot het boekjaar eindigend op 31 dece…
Mandate end condition, onmiddellijk na de gewone algemene vergadering die zal beraadslagen over de goedkeuring van de jaarrekening met betrekking tot het boekjaar eindigend op 31 dece…

2017

15-12

State Gazette act Capital & shares

Capital decrease · Statutes amendment3 facts ▸

Capital decrease, €86.500.000
Statutes amendment
Statutes amendment

22-09

State Gazette act Reappointment: De Roover & Co. Bedrijfsrevisoren BVBA (statutory auditor)

2 facts ▸

General meeting, 24-04-2017
Auditor reappointment, De Roover & Co. Bedrijfsrevisoren BVBA (statutory auditor)

09-06

NBB filing Annual accounts filed

fiscal year 2016 · full schema

2016

31-05

NBB filing Annual accounts filed

fiscal year 2015 · full schema

2015

09-09

State Gazette act Capital & shares · Statutes amendment

Capital increase1 fact ▸

Capital increase, €49.520.000

2014

01-07

State Gazette act Reappointment: De Roover & Co. Bedrijfsrevisoren BVBA (statutory auditor)

2 facts ▸

General meeting, 28-04-2014
Auditor reappointment, De Roover & Co. Bedrijfsrevisoren BVBA (statutory auditor)

28-01

State Gazette act Capital & shares

Capital increase1 fact ▸

Capital increase, €50.850.000

2013

10-01

State Gazette act Capital & shares

Capital increase · Statutes amendment · Inbreng in natura5 facts ▸

Capital increase, €6.095.075,94
Capital increase, €9.159.924,06
Statutes amendment
Inbreng in natura, overge vorderingen
Issue premium, 9159924.06, onbeschikbare reserverekening Uitgiftepremies

2012

13-07

State Gazette act Reappointments: LEMA NV, LP INVEST NV and 2 others

Permanent representatives: Michel Moortgat, Victor Philippe and 2 others9 facts ▸

General meeting, 26-04-2011
Director reappointment, LEMA NV (director)
Permanent representative, Michel Moortgat
Director reappointment, LP INVEST NV (director)
Permanent representative, Victor Philippe
Director reappointment, KRUG BVBA (director)
Permanent representative, Daniël Krug
Auditor reappointment, De Roover & C° Bedrijfrevisoren BVBA (statutory auditor)
Permanent representative, Guy de Roover

2010

06-01

State Gazette act Restructuring

Merger · Capital increase · Accounting effect8 facts ▸

General meeting, 17-12-2009
Merger
Capital increase, €75.000
Accounting effect, 01-01-2009
Power of attorney, Wilfried Geeraert
Power of attorney, Herbert De Loose
Exchange ratio, 1 aandeel NV FREYA'S DELI FRUIT voor 1 aandeel NV MOORTGAT FINANCIAL SERVICES of 3.000 nieuwe aandelen NV MOORTGAT FINANCIAL SERVICES
Expert report, 17-11-2009

2005

13-06

State Gazette act Reappointments: Lema n.v., LP Invest n.v. and 2 others

Permanent representatives: Michel Moortgat, Victor Philippe Moortgat and 2 others · Appointment: Lema n.v. (gedelegeerd bestuurder)11 facts ▸

General meeting, 25-04-2005
Director reappointment, Lema n.v. (director)
Permanent representative, Michel Moortgat
Director reappointment, LP Invest n.v. (director)
Permanent representative, Victor Philippe Moortgat
Director reappointment, Krug b.v.b.a. (director)
Permanent representative, Daniel Krug
Auditor reappointment, b.v.b.a. De Roover & C°, Bedrijfsrevisoren (statutory auditor)
Permanent representative, Guy De Roover
Board meeting, 25-04-2005
Director appointment, Lema n.v. (gedelegeerd bestuurder)

Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

11 directors, no change since 2025

Krug BV

Director · since 24-04-2023 · Legal entity · perm. rep.: Daniël Krug

Current

Lema BV

Director · since 24-04-2023 · Legal entity · perm. rep.: Michel Moortgat

Current

LP Invest BV

Director · since 24-04-2023 · Legal entity · perm. rep.: Victor Moortgat

Current

LEMA

Director · since 08-06-2022 · Private limited company · perm. rep.: Michel Moortgat

Current

LP Invest

Director · since 08-06-2022 · Private limited company · perm. rep.: Victor Philippe Moortgat

Current

KRUG BVBA

Director · since 26-04-2011 · Legal entity · perm. rep.: Daniël Krug

Not recently confirmed

5 other directors

Lema nv

Director · since 26-04-2011 · Legal entity · perm. rep.: Michel Moortgat

Not recently confirmed

LP Invest NV

Director · since 26-04-2011 · Legal entity · perm. rep.: Victor Philippe

Not recently confirmed

Krug b v.b.a.

Director · since 25-04-2005 · Legal entity · perm. rep.: Daniel Krug

Not recently confirmed

Lema n.v.

Director · since 25-04-2005 · Legal entity · perm. rep.: Michel Moortgat

Not recently confirmed

LP Invest n.v.

Director · since 25-04-2005 · Legal entity · perm. rep.: Victor Philippe Moortgat

Not recently confirmed

17-01-2025 KRUG: Resigned as Director

24-04-2023 Krug BV: Mandate renewed as Director

24-04-2023 Lema BV: Mandate renewed as Director

24-04-2023 LP Invest BV: Mandate renewed as Director

08-06-2022 LEMA: Appointed as Director

Full history in the Timeline (17 changes) →

Location & real-estate footprint

Registered office, Puurs-Sint-Amands · 1 establishment unit since 1985

establishment The establishment unit on the map

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.

Breendonk-Dorp 582870 Puurs-Sint-Amands

Ground area

6.7 ha

Building footprint

4,465 m²

Volume, LiDAR

34,963 m³

Parcel 12008A0470/00Z000, Flanders · tallest building 21.4 m, ±2 floors. Linked by address, not a title deed.

1 establishment unit

Breendonk-Dorp 58, 2870 Puurs-Sint-Amands

NACE 6523601

since 19852.028.028.191

1 parcel

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
12008A0470/00Z000	Flanders	6.7 ha	1 · 4,465 m²	21.4 m · 2 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.

Statutory auditor

1 auditor

BV MOORE AUDITCurrent

Statutory auditor · represented by Guy De Roover

27-04-2026 → present

Show 2 earlier auditors

DE ROOVER & C° BEDRIJFSREVISOR Statutory auditor succeeded by De Roover & Partners Bedrijfsrevisoren in 2019	25-04-2005 → 29-04-2019
De Roover & Partners Bedrijfsrevisoren Statutory auditor · represented by Guy De Roover succeeded by BV MOORE AUDIT in 2026	29-04-2019 → 27-04-2026

Structure & network

Connections & network

3 connected companies

Shared directors

Linked via shared directors

BRASSERIE D'ACHOUFFE

Shared corporate director

→

Brouwerij De Koninck

Shared corporate director

→

LOTUS BAKERIES

Shared corporate director

→

Ownership & control

1 parent company

Control over this companyparent company per the LEI register1

DUVEL MOORTGAT

Puurs-Sint-Amands

controls

Moortgat Financial ServicesBE 0427.447.128

Acquisitions and mergers

1 transaction

Took over:FREYA'S DELI FRUIT

BE 0450.258.657State Gazette act of 06-01-2010

Capital and shareholders

Capital over the years

15-12-2017 Capital reduction of 86,500,000 EUR · to 33,500,000 EUR · repaid to the shareholders
09-09-2015 Capital increase of 49,520,000 EUR · to 120,000,000 EUR · in cash
28-01-2014 Capital increase of 50,850,000 EUR · to 70,480,000 EUR · 483,544 new shares
10-01-2013 Capital increase of 6,095,075.94 EUR · to 10,470,075.94 EUR · 108,666 new shares · in kind
10-01-2013 Capital increase of 9,159,924.06 EUR · to 19,630,000 EUR · from reserves
06-01-2010 Capital increase of 75,000 EUR · to 4,375,000 EUR

Recognitions · licences · registrations

Legal Entity Identifier

5493004ERPM8NJCLI823

live in the LEI register

Company data · Crossroads Bank

Identification

Legal formPublic limited company

Founded24-06-1985

Fiscal year end31-12

Abbreviation NL M.F.S.

Sources

Crossroads Bank for EnterprisesNational Bank · 39 filingsAddress and cadastre registers

Scores and ratios are computed by Checked and are not a credit decision.