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 16.6 to 14.
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Busy address KBO
79 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
MG Real Estate from Gent, company number BE0861589434, closed financial year 2025 with a result of € 16.7 million after tax. For that financial year MG Real Estate recorded revenue of € 13.7 million and equity of € 165.4 million. Compared with financial year 2024, the result moved from € 1.8 million to € 16.7 million. Profitable, and profit is growing. 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 June 16, 2026.
€ 165.4 million
▼ 2% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 16.7 million
▲ € 14.9 million vs 2024
Profit after tax over the fiscal year.
€ 7.7 million
▲ 106% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 20 million paid out
More than the year’s profit went to the shareholders; reserves fell.
People and assets in 2025
14
▼ 1.9 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 2.3 million
▲ 13% vs 2024
€ 164,800 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.
€ 739,751
▼ 5% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 38.7 million
▲ 25% vs 2024
Loans from banks and other lenders, long and short.
€ 9.8 million
▲ 79% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 178 days on average.
€ 1.5 million
▲ 15% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 18,377,300 | € 19,209,722 | € 17,116,699 | € 13,676,463 | ▼ 20% |
| Profit after taxes | € 19,808,983 | € 7,925,676 | € 1,754,707 | € 16,681,854 | ▲ € 14.9 million |
| Equity | € 158,978,441 | € 166,904,117 | € 168,659,158 | € 165,350,878 | ▼ 2% |
| Total debts | € 64,564,298 | € 86,596,368 | € 140,187,436 | € 212,892,237 | ▲ 52% |
| Cash | € 5,971,090 | € 6,012,922 | € 3,724,048 | € 7,682,568 | ▲ 106% |
| Land & buildings | € 1,285,914 | € 1,290,433 | € 1,149,506 | € 2,422,409 | ▲ 111% |
| Retained profit | € 53,052,428 | € 60,978,104 | € 62,733,145 | € 59,424,865 | ▼ 5% |
| Dividend | € 0 | € 0 | € 0 | € 20,000,000 | |
| Bank debt | € 12,692,251 | € 27,692,251 | € 30,892,251 | € 38,700,000 | ▲ 25% |
| Balance sheet total | € 223,542,738 | € 253,500,485 | € 308,846,594 | € 378,243,115 | ▲ 22% |
| Employees (FTE) | 17.9 | 16.6 | 15.9 | 14 | ▼ 1.9 |
Key figures of MG Real Estate, 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 MG Real Estate?
What happened at MG Real Estate in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Mea Vota One stepped down as director. NBB
- Mg Re Investment stepped down as director. NBB
- Scs stepped down as director. NBB
- Prodit stepped down as director. NBB
- Ayers Invest stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 16.7 million (▲ € 14.9 million vs 2024). Source: NBB ↗
- Mg Re Investment became a director. NBB
- Mea Vota One became a director. NBB
In short
From € 19.8 million profit in 2022 to € 16.7 million profit in 2025.
Paid € 3.6 million in corporate taxes since 2022.
Best year ever: 2022, with € 19.8 million profit.
Paid out € 20 million in dividends to the owners in total.
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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 shares are held by Mg Re Invest S.A. (100%) and Ignace De Paepe (0%). It owns 100% of Cedrus, 100% of Sorbus Alia, 100% of Sasaella, 100% of Tilia Dila, 100% of Picea Pungens and 100% of Abies Alba Two itself.
Directors
According to the 2025 annual accounts
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 2028
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 2028
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 2028
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 2028
Director · represented by Karel Gielen
Also active at: CROP'S, LOWWOOD N.V., VH ASSET MANAGEMENT, WESTVLEES GROUP, 6 AM, 6 AM Energy Belgium, HOTEL HUNGARIA, BELGIAN PORK GROUP +1 more
since 2022 · until 2028
Shareholders
Mg Re Invest S.A.
100%
Ignace De Paepe
0%
Participations
100%
100%
100%
100%
100%
100%
100%
MG Projekter APS
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
99.9%
99.8%
98.8%
98.4%
94.2%
90%
90%
90%
90%
90%
90%
90%
90%
90%
90%
90%
90%
90%
75%
33.3%
19.4%
10%
1.9%
0.5%
0.2%
DP Real Estate SARL
MG Projects France
Establishments
Establishment units
Physical locations of this company
Esplanade Oscar Van de Voorde 1
9000 Gent
Bijlkenstraat 13
9850 Deinze
Active since 10 June 2016
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 79 companies are registered at this address.
All companies at this address →VDL-INTERASS
€ 2.8 million gross margin · 2025
MG CITY STATION same network
€ 27,077 gross margin · 2025
PAULOWNIA same network
€ 2.7 million gross margin · 2025
STASIMO same network
€ -16,816 gross margin · 2025
NEVIMO
€ 2.8 million gross margin · 2025
+74 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
- 0861.589.434
- VAT number
- BE 0861.589.434
- Registered office
- Esplanade Oscar Van de Voorde 1, 9000 Gent
- Names & denominations
- MG Real Estate
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 12 November 2003
- Peppol
- Active · Active since 4 Jul 2025
- Activities · NACE
Ontwikkeling van niet-residentiële bouwprojecten
Activiteiten van holdings
Holdings
Activiteiten van adviesbureaus op het gebied van bedrijfsvoering en overig managementadvies
Overige adviesbureaus op het gebied van bedrijfsbeheer; adviesbureaus op het gebied van bedrijfsvoering