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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Negative equity NBB
More debt than assets in 4 of the last 4 fiscal years.
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Two loss years in a row NBB
Negative result in 2023 and 2024.
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Tight liquidity NBB
Cash and receivables cover 59 % of short-term debt in 2024; threshold 65 %.
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Figures corrected NBB
Corrected annual account filed for 2022, 2023.
Financials
Financial year 2024
MINOTAURUS from Sint-Gillis (bij-Brussel), company number BE0832663935, closed financial year 2024 with a result of € -506,384 after tax. For that financial year MINOTAURUS recorded revenue of € 12.3 million and equity of € -16.7 million. Compared with financial year 2023, the result moved from € -1.1 million to € -506,384. The company made a loss. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on August 31, 2025.
€ -16.7 million
▼ € 506,384 vs 2023
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -506,384
▲ 52 % less loss than in 2023
Profit after tax over the fiscal year.
€ 2.2 million
▲ 69% vs 2023
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -20.2 million.
People and assets in 2024
54.5
▲ 3.6 vs 2023
Average over the fiscal year, from the social balance sheet.
€ 3.1 million
▲ 6% vs 2023
€ 57,400 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.
€ 26.1 million
▼ 4% vs 2023
Of which on lease € 24.6 million.
Debts at end 2024
€ 42.6 million
€ 2.9 million is repaid this year. At this pace the long-term loan is gone in ≈ 14 years.
€ 2.1 million
▼ 4% vs 2023
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 110 days on average.
€ 368,415
▲ 19% vs 2023
Taxes, VAT and social contributions still to pay.
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| 2021 | 2022 | 2023 | 2024 | Change 2023 → 2024 | |
|---|---|---|---|---|---|
| Revenue | € 2,911,272 | € 7,682,352 | € 10,302,758 | € 12,344,098 | ▲ 20% |
| Profit after taxes | € -2,874,909 | € -1,078,145 | € -1,062,221 | € -506,384 | ▲ € 555,837 |
| Equity | € -14,082,710 | € -15,160,855 | € -16,223,077 | € -16,729,461 | ▼ € 506,384 |
| Total debts | € 46,660,785 | € 46,650,933 | € 46,590,158 | € 46,809,602 | |
| Cash | € 2,007,429 | € 1,719,674 | € 1,288,956 | € 2,178,585 | ▲ 69% |
| Retained profit | € -17,582,710 | € -18,660,855 | € -19,723,077 | € -20,229,461 | ▼ € 506,384 |
| Bank debt | € 43,240,734 | € 42,960,887 | € 42,487,373 | € 42,648,902 | |
| Balance sheet total | € 32,578,075 | € 31,490,078 | € 30,367,082 | € 30,080,141 | ▼ 1% |
| Employees (FTE) | 45.4 | 46.9 | 50.9 | 54.5 | ▲ 3.6 |
Key figures of MINOTAURUS, fiscal years 2021 to 2024, from the annual accounts filed with the National Bank of Belgium.The annual account for fiscal year 2025 has not been filed yet; it was expected before 31 July 2026.
What happened to MINOTAURUS?
What happened at MINOTAURUS in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- FRANKRIJK INVEST SA stepped down as director. NBB
- HOTEPAR SA stepped down as director. NBB
- BOISSEE FINANCES SAS stepped down as director. NBB
- SOCIETE HE SÀRL stepped down as director. NBB
- BETWEEN SRL stepped down as director. NBB
- New annual accounts for financial year 2024: loss of € 506,384. filed late Source: NBB ↗
- BETWEEN SRL became a director. NBB
- FRANKRIJK INVEST SA became a director. NBB
In short
From € 2.9 million loss in 2021 to € 506,384 loss in 2024.
Paid € 848 in corporate taxes since 2021.
Pays suppliers within 110 days on average.
A new publication or filing at MINOTAURUS? 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 FRANKRIJK INVEST comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
MINOTAURUSThe shares are held by FRANKRIJK INVEST (20%).
Directors
According to the 2024 annual accounts
Director · represented by Pierre MOLINARI
since 2017 · until 2029
HOTEPAR SA
Director · represented by Stanislas ROLLIN
since 2017 · until 2029
BOISSEE FINANCES SAS
Director, Managing director · represented by Eric ROLLIN
Also active at: BELGIPAR
since 2017 · until 2029
SOCIETE HE SÀRL
Director · represented by Pierre ESNEE
since 2017 · until 2029
Director, Managing director · represented by Martine OCTAVE - BELVAUX
Also active at: FRANKRIJK INVEST, CARTONDUL EUROPE, SOCIETE DE COOPERATION FRANCO-BELGE, HFR International, MIDDLEBURY INVESTMENT, EGLAIS, GLOBAL LINK, BELGIPAR
since 2019 · until 2029
Shareholders
20%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Victor Hortaplein 1
1060 Sint-Gillis (bij-Brussel)
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 1 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.
Details
- Company number
- 0832.663.935
- VAT number
- BE 0832.663.935
- Registered office
- Victor Hortaplein 1, 1060 Sint-Gillis (bij-Brussel)
- Names & denominations
- MINOTAURUS
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 11 January 2011
- Peppol
- Active · Active since 7 May 2026
- Activities · NACE
Hotels en dergelijke accommodatie
Verhuur en exploitatie van eigen of geleased residentieel onroerend goed, exclusief sociale woningen
Verhuur en exploitatie van eigen of geleased niet-residentieel onroerend goed, exclusief terreinen
Handel in eigen onroerend goed