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Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Figures corrected NBB
Corrected annual account filed for 2024.
Financials
Financial year 2025
MORGENSTERN from Tongeren-Borgloon, company number BE0417405648, closed financial year 2025 with a result of € 5,208 after tax. For that financial year MORGENSTERN recorded a gross margin of € 19,929 and equity of € 99,328. Compared with financial year 2024, the result moved from € 25,558 to € 5,208. The company is profitable. The buffer is growing. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on October 9, 2026.
€ 99,328
▲ 6% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 5,208
▼ 80% vs 2024
Profit after tax over the fiscal year.
€ 799
▲ 36% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € -66,724.
People and assets in 2025
€ 1,722
▼ 42% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 271,372
▼ 23% vs 2024
Loans from banks and other lenders, long and short.
€ 4,270
▲ 74% vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 9,479 | € 18,456 | € 44,313 | € 19,929 | ▼ 55% |
| Profit after taxes | € -6,994 | € -1,079 | € 25,558 | € 5,208 | ▼ 80% |
| Equity | € 69,642 | € 68,562 | € 94,120 | € 99,328 | ▲ 6% |
| Total debts | € 353,048 | € 338,662 | € 362,124 | € 278,121 | ▼ 23% |
| Cash | € 4,598 | € 2 | € 588 | € 799 | ▲ 36% |
| Land & buildings | € 379,409 | € 374,357 | € 372,135 | € 366,782 | ▼ 1% |
| Retained profit | € -96,410 | € -97,489 | € -71,931 | € -66,724 | ▲ € 5,208 |
| Bank debt | € 344,362 | € 335,439 | € 354,117 | € 271,372 | ▼ 23% |
| Balance sheet total | € 422,690 | € 407,225 | € 456,244 | € 377,449 | ▼ 17% |
Key figures of MORGENSTERN, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to MORGENSTERN?
What happened at MORGENSTERN in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Joseph Janssen stepped down as director. NBB
- Franz Janssen stepped down as director. NBB
- Paul Janssen stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 5,208 (▼ 80% vs 2024). filed late Source: NBB ↗
- Joseph Janssen became a director. NBB
- Franz Janssen became a director. NBB
- Paul Janssen became a director. NBB
- New establishment in Tongeren-Borgloon. KBO
In short
From € 6,994 loss in 2022 to € 5,208 profit in 2025.
Paid € 5,014 in corporate taxes since 2022.
Best year ever: 2024, with € 25,558 profit.
Management
Directors
According to the 2025 annual accounts
Joseph Janssen
Director
since 2023 · until 2029
Franz Janssen
Managing director
since 2023 · until 2029
Paul Janssen
Director
since 2023 · until 2029
Establishments
Establishment units
Physical locations of this company
Jaminéstraat 7 box 4
3700 Tongeren-Borgloon
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0417.405.648
- VAT number
- BE 0417.405.648
- Registered office
- Jaminéstraat 7 bus 4, 3700 Tongeren-Borgloon
- Names & denominations
- MORGENSTERN
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 27 July 1977
- Peppol
- Active · Active since 30 Dec 2025