Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Tight liquidity NBB
Cash and receivables cover 6 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
M-Holding from Antwerpen, company number BE0665641417, closed financial year 2025 with a result of € 468,923 after tax. For that financial year M-Holding recorded revenue of € 105,000 and equity of € 3.2 million. Compared with financial year 2024, the result moved from € 430,256 to € 468,923. 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 21, 2026.
€ 3.2 million
▲ 17% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 468,923
▲ 9% vs 2024
Profit after tax over the fiscal year.
€ 3,645
▲ 128% 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 € 2.1 million.
Debts at end 2025
€ 2.3 million
▼ 16% vs 2024
€ 555,000 is repaid this year. At this pace the long-term loan is gone in ≈ 4 years.
€ 533
▼ 4% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 1,647
▲ 36% 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 | € 118,473 | € 94,500 | € 109,500 | € 105,000 | ▼ 4% |
| Profit after taxes | € 4,989 | € 405,175 | € 430,256 | € 468,923 | ▲ 9% |
| Equity | € 1,878,464 | € 2,283,639 | € 2,713,895 | € 3,182,818 | ▲ 17% |
| Total debts | € 4,608,264 | € 4,218,350 | € 3,929,778 | € 3,354,377 | ▼ 15% |
| Cash | € 9,539 | € 6,301 | € 1,598 | € 3,645 | ▲ 128% |
| Retained profit | € 842,464 | € 1,247,639 | € 1,677,895 | € 2,146,818 | ▲ 28% |
| Bank debt | € 3,467,575 | € 3,124,718 | € 2,681,861 | € 2,250,732 | ▼ 16% |
| Balance sheet total | € 6,486,727 | € 6,501,989 | € 6,643,673 | € 6,537,195 | ▼ 2% |
Key figures of M-Holding, 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 M-Holding?
What happened at M-Holding in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Patrick Albert Leo Mortier stepped down as director. NBB
- Celine Mortier stepped down as director. NBB
- Michel Martin stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 468,923 (▲ 9% vs 2024). Source: NBB ↗
- New establishment in Antwerpen. KBO
- Start of the company according to the CBE. KBO
In short
From € 4,989 profit in 2022 to € 468,923 profit in 2025.
Best year ever: 2025, with € 468,923 profit.
Pays suppliers within 20 days on average.
A new publication or filing at M-Holding? 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 CEMO comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
M-HoldingThe shares are held by CEMO (80%). It owns 98% of Alpha Marine Systems, 11.8% of Martin & C° and 0% of Marine Software Development itself.
Directors
According to the 2025 annual accounts
Patrick Albert Leo Mortier
Director
· until 2028
Celine Mortier
Managing director
Also active at: MARTIN EN CO, ALPHA MARINE SYSTEMS, BOGERD MARTIN, MARINE SOFTWARE DEVELOPMENT, CEMO, LM Build
· until 2028
Michel Martin
Director
· until 2028
Shareholders
80%
Participations
Establishments
Establishment units
Physical locations of this company
Maasstraat 65
2060 Antwerpen
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 4 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Website
Technologies
Hosting & Email
Email provider
Microsoft 365
Hosting
COMBELL-AS, BE
Domain
Domain
bogerdmartin.com
Registered
2019-10-22
Registrar
Ascio Technologies, Inc. Danmark - Filial af Ascio technologies, Inc. USA
Expires
2026-10-22
Website info
Features
Security
Details
- Company number
- 0665.641.417
- VAT number
- BE 0665.641.417
- Registered office
- Maasstraat 65, 2060 Antwerpen
- Names & denominations
- M-Holding
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 26 October 2016
- Peppol
- Active · Active since 27 Mar 2026
- Contact
- bogerdmartin.com
- Activities · NACE
Activiteiten van holdings
Holdings