ACTIVE

EXPLOITATIEMAATSCHAPPIJ MO

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Financial year 2025 · closed on 31/12/2025

Net result

43,3 k €

+988.5% YoY

Gross margin

1,5 M €

-18.4% YoY

Equity

291,7 k €

+17.4% YoY

Workforce

13,6 ETP

-13.9% YoY

What does EXPLOITATIEMAATSCHAPPIJ MO do?

EXPLOITATIEMAATSCHAPPIJ MO is a Public limited company incorporated in 1963. Its main activity is: Hotels and similar accommodation. Its registered office is in Brugge. It employs on average 13,6 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0405.286.982

Incorporation

16/12/1963

Legal form

Public limited company

Registered office

Monnikenwerve 17-19
8000 Brugge · FlandreSee on map

Contributed capital

100 000,00 €

Latest accounts

31/12/2025

Average workforce

13,6 ETP

Activities (NACE)

55100Hotels and similar accommodation· main 55100Hotels and similar accommodation 55101Hotels and similar accommodation 55102Hotels and similar accommodation

Joint committees (1)

Signals

ProfitablePositive cashflowPositive EBITDAHealthy social debts

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	1,5 M €	-18.4%	1,8 M €	-26.1%	2,5 M €	+39.9%	1,8 M €	+37.6%	1,3 M €	+33.0%	961,5 k €	-46.0%	1,8 M €	-4.7%	1,9 M €	-0.9%	1,9 M €	+14.3%	1,7 M €	-5.0%	1,7 M €	+58.8%	1,1 M €	-11.0%	1,2 M €		–		–		–		–		–		–		–
EBITDA	113,6 k €	-2.9%	117 k €	-31.9%	171,8 k €	-6.8%	184,3 k €	+62.6%	113,3 k €	-3.9%	117,9 k €	-26.7%	160,9 k €	+27.3%	126,4 k €	-24.9%	168,4 k €	+3.8%	162,2 k €	-30.8%	234,6 k €	+1959%	11,4 k €	-86.1%	81,7 k €	-70.9%	280,8 k €	-8.6%	307,2 k €	+10.8%	277,3 k €	+20.8%	229,5 k €	+21.9%	188,2 k €	-6.9%	202,2 k €	-40.1%	337,7 k €
Operating result	70,1 k €	+2811%	2,4 k €	-91.0%	26,7 k €	+4.4%	25,6 k €	-33.5%	38,5 k €	+269%	10,4 k €	-86.0%	74,6 k €	+59.9%	46,6 k €	-50.9%	95 k €	-1.1%	96,1 k €	-42.7%	167,8 k €	+929%	-20,2 k €	-1333%	-1,4 k €	-101%	109,4 k €	-14.9%	128,7 k €	+32.3%	97,3 k €	+92.4%	50,5 k €	+474%	8,8 k €	+343%	2 k €	-98.1%	102,2 k €
Net result	43,3 k €	+988%	-4,9 k €	-131%	16 k €	+1.5%	15,7 k €	-55.9%	35,7 k €	+192%	12,2 k €	-74.8%	48,4 k €	+6.5%	45,4 k €	-72.9%	167,5 k €	+83.1%	91,5 k €	-60.1%	229,1 k €	+30.3%	175,8 k €	-60.8%	448,6 k €	+497%	75,1 k €	-30.7%	108,4 k €	+82.6%	59,4 k €	+582%	-12,3 k €	+86.0%	-88 k €	+45.2%	-160,6 k €	-503%	39,9 k €
Balance sheet
Equity	291,7 k €	+17.4%	248,4 k €	-1.9%	253,3 k €	+3.3%	245,3 k €	+6.8%	229,6 k €	+18.4%	193,9 k €	+6.7%	181,7 k €	+36.3%	133,3 k €	-91.8%	1,6 M €	+4.3%	1,6 M €	+6.2%	1,5 M €	+18.5%	1,2 M €	+16.6%	1,1 M €	+73.4%	611,6 k €	+318%	146,4 k €	+285%	38 k €	+278%	-21,4 k €	-136%	-9,1 k €	-111%	79 k €	-67.0%	239,5 k €
Total assets	1,3 M €	+27.6%	1 M €	-45.1%	1,9 M €	+103%	931,1 k €	+0.0%	931,1 k €	+31.3%	708,9 k €	-35.8%	1,1 M €	+5.0%	1,1 M €	-59.5%	2,6 M €	+3.4%	2,5 M €	+1.6%	2,5 M €	-69.6%	8,1 M €	+54.1%	5,3 M €	+431%	992,9 k €	-61.4%	2,6 M €	+8.3%	2,4 M €	+7.6%	2,2 M €	+9.4%	2 M €	+3.2%	2 M €	+2.8%	1,9 M €
Cash	1,1 M €	+213%	364,8 k €	-59.0%	890,7 k €	+99.8%	445,8 k €	+21.0%	368,6 k €	+81.9%	202,7 k €	-58.8%	491,5 k €	+18.6%	414,2 k €	-11.2%	466,2 k €	-38.7%	761,1 k €	+48.8%	511,3 k €	-45.4%	936 k €	+881%	95,4 k €	+780%	10,8 k €	+98.4%	5,5 k €	-52.9%	11,6 k €	-42.7%	20,2 k €	+388%	4,1 k €	-99.1%	454,1 k €	+50.2%	302,3 k €
Debts	1 M €	+32.5%	778,5 k €	-52.2%	1,6 M €	+146%	662,5 k €	-0.2%	663,8 k €	+31.2%	506 k €	-44.6%	912,9 k €	+0.6%	907,2 k €	+1.3%	895,9 k €	+2.2%	876,2 k €	-10.2%	975,9 k €	-85.8%	6,9 M €	+63.6%	4,2 M €	+1003%	381,4 k €	-84.3%	2,4 M €	+3.8%	2,3 M €	+4.8%	2,2 M €	+10.0%	2 M €	+9.5%	1,9 M €	+17.4%	1,6 M €
Other
Workforce	13,6 ETP	-13.9%	15,8 ETP	-1.2%	16,0 ETP	-26.6%	21,8 ETP	0.0%	21,8 ETP	+10.7%	19,7 ETP	-11.3%	22,2 ETP	+1.4%	21,9 ETP	-1.8%	22,3 ETP	+6.2%	21,0 ETP	+8.2%	19,4 ETP	-4.9%	20,4 ETP	-1.4%	20,7 ETP	-1.4%	21,0 ETP	-1.4%	21,3 ETP	+1.4%	21,0 ETP	-0.9%	21,2 ETP	-6.6%	22,7 ETP	-1.3%	23,0 ETP	+3.6%	22,2 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 54 ended

Active mandates

Chavalie De Lodder

Director · since 01 juin 2025 · until 01 juin 2031

Active

Belgian Coast Hotels

Managing director · since 17 octobre 2023 · until 26 juin 2029 · 0795.423.655

Represented by Joachim Debucquoy

Active

Ended mandates

Idgie Maeckelbergh

Director · since 18 mars 2024 · until 18 mars 2030

Ended

Robin Dedeurwaerder

Director · since 18 mars 2024 · until 18 mars 2030

Ended

Bricks & Support

Managing director · since 17 octobre 2023 · until 26 juin 2029 · 0552.534.170

Represented by Joachim DEBUCQUOY

Ended

Pieter Debree

Director · since 01 avril 2023 · until 31 mars 2029

Ended

At this address

Other companies at this address

Company	CBE no.
Alysee Projectontwikkeling● Active	0831.759.855
ARCHIMEDES OOSTENDE● Active	0477.454.784
Belgian Coast Hotels● Active	0795.423.655
BLANKENBERGE DEVELOPMENT COMPANY● Active	0678.537.566
Bricks & Support● Active	0552.534.170
BRUSSELS DEVELOPMENT COMPANY● Active	0735.665.519
Dienstencentrum voor de Sport● Liquidation	0459.438.421
DORMA HUPPE● Active	0407.204.713
dormakaba Belgium● Active	0455.986.706
EXCELSIOR IC● Active	0746.723.816
EXPLOITATIEMAATSCHAPPIJ HBAZ● Active	1007.015.396
EXPLOITATIEMAATSCHAPPIJ IBA● Active	0678.421.265
EXPLOITATIEMAATSCHAPPIJ IBB● Active	0687.872.827
EXPLOITATIEMAATSCHAPPIJ ISB● Active	0801.421.324
EXPLOITATIEMAATSCHAPPIJ ISZ● Active	0845.017.280
EXPLOITATIEMAATSCHAPPIJ MB● Active	0670.958.896
EXPLOITATIEMAATSCHAPPIJ PBAZ● Active	1007.009.260
FIRENZE● Liquidation	0446.033.120
FJORD REAL ESTATE DEVELOPMENT● Active	0755.460.249
HOLIDAY SUITES● Active	0834.230.286

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	17/06/2026	22/07/2025	16/07/2024	28/06/2023	19/07/2022	14/09/2021
General meeting	16/06/2026	18/07/2025	12/07/2024	27/06/2023	14/07/2022	16/08/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	16/06/2026	17/06/2026	Dutch	PDF
Abridged model	31/12/2024	18/07/2025	22/07/2025	Dutch	PDF
Abridged model	31/12/2023	12/07/2024	16/07/2024	Dutch	PDF
Abridged model	31/12/2022	27/06/2023	28/06/2023	Dutch	PDF
Abridged model	31/12/2021	14/07/2022	19/07/2022	Dutch	PDF
Abridged model	31/12/2020	16/08/2021	14/09/2021	Dutch	PDF
Abridged model	31/12/2019	30/06/2020	08/10/2020	Dutch	PDF
Abridged model	31/12/2018	25/06/2019	01/07/2019	Dutch	PDF
Abridged model	31/12/2017	29/06/2018	03/08/2018	Dutch	PDF
Abridged modelCorrection	31/12/2016	30/06/2017	14/09/2017	Dutch	PDF
Abridged model	31/12/2016	30/06/2017	17/08/2017	Dutch	PDF
Abridged model	31/12/2015	29/06/2016	19/07/2016	Dutch	PDF
Abridged model	31/12/2014	31/07/2015	27/08/2015	Dutch	PDF
Abridged model	31/12/2013	20/05/2014	29/08/2014	Dutch	PDF
Full model	31/12/2012	21/05/2013	30/05/2013	Dutch	PDF
Full model	31/12/2011	22/05/2012	14/06/2012	Dutch	PDF
Full model	31/12/2010	30/06/2011	11/07/2011	Dutch	PDF
Full model	31/12/2009	30/06/2010	28/07/2010	Dutch	PDF
Full model	31/12/2008	05/05/2009	06/07/2009	Dutch	PDF
Full model	31/12/2007	06/05/2008	28/05/2008	Dutch	PDF
Full model	31/12/2006	02/05/2007	11/06/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 54 ended

Active mandates

Chavalie De Lodder

Director · since 01 juin 2025 · until 01 juin 2031

Active

Belgian Coast Hotels

Managing director · since 17 octobre 2023 · until 26 juin 2029 · 0795.423.655

Represented by Joachim Debucquoy

Active

Ended mandates

Idgie Maeckelbergh

Director · since 18 mars 2024 · until 18 mars 2030

Ended

Robin Dedeurwaerder

Director · since 18 mars 2024 · until 18 mars 2030

Ended

Bricks & Support

Managing director · since 17 octobre 2023 · until 26 juin 2029 · 0552.534.170

Represented by Joachim DEBUCQUOY

Ended

Pieter Debree

Director · since 01 avril 2023 · until 31 mars 2029

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates19/12/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates14/06/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates28/11/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates22/02/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates16/12/2022
ONTSLAGEN - BENOEMINGEN
PDF
Registered office20/01/2021
MAATSCHAPPELIJKE ZETEL
PDF
Mandates02/07/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates26/03/2020
ONTSLAGEN - BENOEMINGEN
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 202543,3 k €↑
2024
Annual accounts 2024-4,9 k €↓
2023
Annual accounts 202316 k €↑
2022
Annual accounts 202215,7 k €↓
2021
Annual accounts 202135,7 k €↑
2020
Annual accounts 202012,2 k €↓
2019
Annual accounts 201948,4 k €↑
2018
Annual accounts 201845,4 k €↓
2018
Name changeExploitatiemaatschappij Mo
2017
Annual accounts 2017167,5 k €↑
2016
Annual accounts 201691,5 k €↓
2015
Annual accounts 2015229,1 k €↑
2014
Annual accounts 2014175,8 k €↓
2013
Annual accounts 2013448,6 k €↑
2012
Annual accounts 201275,1 k €↓
2011
Annual accounts 2011108,4 k €↑
2010
Annual accounts 201059,4 k €↑
2009
Annual accounts 2009-12,3 k €↑
2008
Annual accounts 2008-88 k €↑
2007
Annual accounts 2007-160,6 k €↓
2006
Annual accounts 200639,9 k €
2006
Name changeHotel Riff
16/12/1963
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

EXPLOITATIEMAATSCHAPPIJ MO

Overview

What does EXPLOITATIEMAATSCHAPPIJ MO do?

Trend over 20 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline