Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Two loss years in a row NBB
Negative result in 2024 and 2025.
Financials
Financial year 2025
MUPHI from Walcourt, company number BE0795709707, closed financial year 2025 with a result of € -4,137 after tax. For that financial year MUPHI recorded a gross margin of € 265,277 and equity of € 1.1 million. Compared with financial year 2024, the result moved from € -158,078 to € -4,137. The company made a loss. The company holds a healthy buffer. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on July 15, 2026.
€ 1.1 million
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -4,137
▲ 97 % less loss than in 2024
Profit after tax over the fiscal year.
€ 34,063
▲ 20% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -2.4 million.
People and assets in 2025
€ 2,877
▼ 93% vs 2024
Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 2,156
▼ 99% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 1.4 million
▼ 3% vs 2024
€ 40,520 is repaid this year. At this pace the long-term loan is gone in ≈ 35 years.
€ 12,050
▲ 42% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 43,225
▲ 284% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € -1,774 | € 92,386 | € 95,784 | € 265,277 | ▲ 177% |
| Profit after taxes | € -1,846 | € -68,021 | € -158,078 | € -4,137 | ▲ € 153,941 |
| Equity | € 1,341,858 | € 1,273,837 | € 1,115,759 | € 1,111,622 | |
| Total debts | € 5,350 | € 670,897 | € 1,520,388 | € 1,540,608 | ▲ 1% |
| Cash | - | € 43,425 | € 28,269 | € 34,063 | ▲ 20% |
| Land & buildings | - | € 1,411,841 | € 2,301,256 | € 2,200,425 | ▼ 4% |
| Retained profit | € -1,845,047 | € -2,315,940 | € -2,455,133 | € -2,440,386 | ▲ € 14,748 |
| Bank debt | € 0 | € 554,261 | € 1,444,123 | € 1,404,415 | ▼ 3% |
| Balance sheet total | € 1,347,208 | € 1,944,734 | € 2,636,147 | € 2,652,230 | ▲ 1% |
| Employees (FTE) | - | 0.5 | - | - |
Key figures of MUPHI, 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 MUPHI?
What happened at MUPHI in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 4,137. Source: NBB ↗
- New establishment in Walcourt. KBO
- Start of the company according to the CBE. KBO
- Philippe Bolle became a director. NBB
- Muriel Keutgen became a director. NBB
In short
From € 1,846 loss in 2022 to € 4,137 loss in 2025.
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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
Behind MUPHI are Philippe Bolle and Muriel Keutgen. It owns Laser 2000 Benelux itself.
Directors
According to the 2025 annual accounts
since 2022
Muriel Keutgen
Director
since 2022
Establishments
Establishment units
Physical locations of this company
Rue du Moulin (Fra) 20
5650 Walcourt
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0795.709.707
- VAT number
- BE 0795.709.707
- Registered office
- Rue du Moulin (Fra) 20, 5650 Walcourt
- Names & denominations
- MUPHI
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 4 January 2023
- Peppol
- Active · Active since 5 Jan 2026
- Activities · NACE
Activiteiten van syndici van onroerend goed
Verhuur en exploitatie van eigen of geleased residentieel onroerend goed, exclusief sociale woningen