Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Shrinking team NBB
FTE fell two years in a row, from 220.8 to 19.2.
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Busy address KBO
11 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
Exploitatiemaatschappij MHSL from Gent, company number BE0691750649, closed financial year 2025 with a result of € 115,684 after tax. For that financial year Exploitatiemaatschappij MHSL recorded a gross margin of € 1.7 million and equity of € 114,064. Compared with financial year 2024, the result moved from € 48,110 to € 115,684. Profitable, and profit is growing. The buffer is growing. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on June 25, 2026.
€ 114,064
▲ 5% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 115,684
▲ 140% vs 2024
Profit after tax over the fiscal year.
€ 230,494
▼ 26% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 110,000 paid out
95 % of the profit went to the shareholders, mostly to NESTIA HOSPITALITY GROUP (100 % of the shares). That is where the money ends up.
People and assets in 2025
19.2
▼ 1.2 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 888,359
▼ 1% vs 2024
€ 46,300 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 265,128
▼ 98% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 59,071
▼ 22% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 1,339,454 | € 1,479,324 | € 1,570,721 | € 1,664,069 | ▲ 6% |
| Profit after taxes | € -42,842 | € -65,193 | € 48,110 | € 115,684 | ▲ 140% |
| Equity | € 125,463 | € 60,270 | € 108,380 | € 114,064 | ▲ 5% |
| Total debts | € 12,826,294 | € 12,132,804 | € 11,812,537 | € 11,408,949 | ▼ 3% |
| Cash | € 247,496 | € 78,137 | € 309,626 | € 230,494 | ▼ 26% |
| Retained profit | € 25,463 | € -39,730 | € 8,380 | € 14,064 | ▲ 68% |
| Dividend | € 0 | € 0 | € 0 | € 110,000 | |
| Balance sheet total | € 12,951,757 | € 12,193,074 | € 11,920,917 | € 11,523,013 | ▼ 3% |
| Employees (FTE) | 14.7 | 220.8 | 20.4 | 19.2 | ▼ 1.2 |
Key figures of Exploitatiemaatschappij MHSL, 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 Exploitatiemaatschappij MHSL?
What happened at Exploitatiemaatschappij MHSL in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 115,684 (▲ 140% vs 2024). Source: NBB ↗
- UNIBRICKS BV became a director. NBB
- NESTIA HOSPITALITY GROUP NV became a director. NBB
- New establishment in Rochefort. KBO
- New establishment in Gent. KBO
- Start of the company according to the CBE. KBO
In short
From € 42,842 loss in 2022 to € 115,684 profit in 2025.
Paid € 461 in corporate taxes since 2022.
Best year ever: 2025, with € 115,684 profit.
On average € 86,700 of value added per employee in 2025.
A new publication or filing at Exploitatiemaatschappij MHSL? 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 NESTIA HOSPITALITY GROUP comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
Exploitatiemaatschappij MHSLBehind Exploitatiemaatschappij MHSL are UNIBRICKS BV and NESTIA HOSPITALITY GROUP NV. The shares are held by NESTIA HOSPITALITY GROUP (100%).
Directors
According to the 2025 annual accounts
Director · represented by Thomas LECLUSE
Also active at: BRICKS & LEISURE VASTGOED, BRICKS FINANCIAL SERVICES, Bricks & Leisure Projectontwikkeling, EXPLOITATIEMAATSCHAPPIJ IBJ, Atratus, European Realty Company, Waterfront Development Company, DVG Development +7 more
since 2024
Director · represented by Jonathan DEBUCQUOY
Also active at: EXPLOITATIEMAATSCHAPPIJ IBJ, RESTAURANT BALMORAL, EXPLOITATIEMAATSCHAPPIJ RAL, UNEST STUDENT HOUSING, EXPLOITATIEMAATSCHAPPIJ RSB, Exploitatiemaatschappij Green Resort Limburg
since 2024
Shareholders
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Pieter Brueghellaan 1
9051 Gent
Rue Joseph Lamotte, Han 16
5580 Rochefort
Active since 1 September 2020
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 11 companies are registered at this address.
All companies at this address →BRICKS FINANCIAL SERVICES same network
€ 133,227 gross margin · 2025
Bricks & Leisure Projectontwikkeling same network
€ -6,027 gross margin · 2025
EXPLOITATIEMAATSCHAPPIJ IBJ same network
€ 714,994 gross margin · 2025
Atratus same network
€ 84,114 gross margin · 2025
European Realty Company same network
€ 85,082 gross margin · 2025
+6 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
- 0691.750.649
- VAT number
- BE 0691.750.649
- Registered office
- Pieter Brueghellaan 1, 9051 Gent
- Names & denominations
- Exploitatiemaatschappij MHSL · Exploitatiemaatschappij ISHSL
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 6 March 2018
- Peppol
- Active · Active since 27 Mar 2026
- Contact
- [email protected] 093943990
- Activities · NACE
Hotels en dergelijke accommodatie