Warning lights
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 2023.
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Busy address KBO
57 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
Pinus Mugo from Brussel, company number BE0664615096, closed financial year 2025 with a result of € 1.1 million after tax. For that financial year Pinus Mugo recorded revenue of € 5.4 million and equity of € 42.2 million. Compared with financial year 2024, the result moved from € -1.8 million to € 1.1 million. Profitable, and profit is growing. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on June 3, 2026.
€ 42.2 million
▲ € 40.9 million vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 1.1 million
▲ still € 1.8 million loss in 2024
Profit after tax over the fiscal year.
€ 2.7 million
▼ 22% 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 € -1.6 million.
Debts at end 2025
€ 40 million
▼ 43% vs 2024
Loans from banks and other lenders, long and short.
€ 101,922
▼ 91% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 84 days on average.
€ 268,861
▲ 2% vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | - | - | - | € 5,366,664 | |
| Gross margin | € 140,899 | € 1,779,084 | € 4,518,230 | - | |
| Profit after taxes | € -322,745 | € -530,248 | € -1,794,467 | € 1,137,801 | ▲ € 2.9 million |
| Equity | € -358,645 | € -888,892 | € 1,316,641 | € 42,208,354 | ▲ € 40.9 million |
| Total debts | € 32,032,203 | € 74,255,957 | € 84,613,388 | € 41,917,249 | ▼ 50% |
| Cash | € 236,676 | € 1,308,972 | € 3,439,211 | € 2,679,771 | ▼ 22% |
| Land & buildings | - | € 44,007,127 | € 82,277,536 | € 79,428,428 | ▼ 3% |
| Retained profit | € -420,145 | € -950,392 | € -2,744,859 | € -1,607,058 | ▲ € 1.1 million |
| Bank debt | € 25,792,313 | € 59,069,100 | € 70,084,569 | € 40,000,000 | ▼ 43% |
| Balance sheet total | € 31,673,558 | € 73,367,065 | € 85,930,028 | € 84,125,602 | ▼ 2% |
Key figures of Pinus Mugo, 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 Pinus Mugo?
What happened at Pinus Mugo in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Irene Gabriela FLORESCU stepped down as director. NBB
- Christophe Eric Peter TANS stepped down as director. NBB
- Jacques Andre SCHULTE stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 1.1 million. Source: NBB ↗
- Irene Gabriela FLORESCU became a director. NBB
- Mea Vota One stepped down as director. NBB
- Christophe Eric Peter TANS became a director. NBB
- Mg Re Investment stepped down as director. NBB
In short
From € 322,745 loss in 2022 to € 1.1 million profit in 2025.
Paid € 11,455 in corporate taxes since 2022.
Best year ever: 2025, with € 1.1 million profit.
Pays suppliers within 84 days on average.
A new publication or filing at Pinus Mugo? We notify you, reason included.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The stake of MG Real Estate, Magnifera comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
Pinus MugoThe shares are held by MG Real Estate (90.9%) and Magnifera (9.1%).
Directors
According to the 2025 annual accounts
Irene Gabriela FLORESCU
Director
Also active at: PEGAMO V, PEGAMO I, PEGARE, PEGAMO III, PEGATRIM, PEGAPARK, PEGACOSMOS, PEGALAND +1 more
since 2025 · until 2030
Director · represented by Anja Tackaert
Also active at: MG CITY STATION, Maple Land, Celtis Julianae, ABIES ALBA, DULLE GRIET GARDEN, SASAELLA, FAGIUS, PRUNUS +36 more
since 2022 · until 2025
Christophe Eric Peter TANS
Director
Also active at: PEGAMO V, PEGAMO I, PEGARE, PEGATRIM, PEGASON, PEGAPARK, PEGACOSMOS, PEGALAND +1 more
since 2025 · until 2030
Managing director · represented by Ignace De Paepe
Also active at: MG CITY STATION, PAULOWNIA, STASIMO, Maple Land, Celtis Julianae, ABIES ALBA, Selas, DULLE GRIET GARDEN +48 more
since 2024 · until 2025
Director · represented by Stacey Smits
Also active at: MG CITY STATION, Maple Land, Celtis Julianae, ABIES ALBA, DULLE GRIET GARDEN, SASAELLA, FAGIUS, PRUNUS +38 more
since 2022 · until 2025
Director · represented by Ignace Tytgat
Also active at: MG CITY STATION, STASIMO, Maple Land, Celtis Julianae, ABIES ALBA, DULLE GRIET GARDEN, SASAELLA, FAGIUS +42 more
since 2022 · until 2025
Jacques Andre SCHULTE
Director
since 2025 · until 2030
Shareholders
90.9%
9.1%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Marnixlaan 23
1000 Brussel
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 57 companies are registered at this address.
All companies at this address →TELEFLEX MEDICAL
€ 18.7 million revenue · 2025
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€ 218,925 revenue · 2024
Paardekooper België
Sunparks Oostduinkerke
€ 3.9 million revenue · 2025
CUSHMAN & WAKEFIELD BELGIUM
€ 14.4 million revenue · 2024
+52 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0664.615.096
- VAT number
- BE 0664.615.096
- Registered office
- Marnixlaan 23, 1000 Brussel
- Names & denominations
- Pinus Mugo
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 13 October 2016
- Peppol
- Active · Active since 1 Jan 2001
- Activities · NACE
Verhuur en exploitatie van eigen of geleased niet-residentieel onroerend goed, exclusief terreinen