ACTIVE

MBG

Export PDF

Financial year 2025 · closed on 31/12/2025

Net result

11,3 M €

-4.2% YoY

Revenue

100,8 M €

-42.5% YoY

Equity

26 M €

+5.2% YoY

Workforce

181,5 ETP

-4.3% YoY

What does MBG do?

MBG is a Public limited company incorporated in 1973. Its registered office is in Antwerpen. It employs on average 181,5 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0413.352.434

Incorporation

03/07/1973

Legal form

Public limited company

Registered office

Laarstraat 16 box b12
2610 Antwerpen · FlandreSee on map

Contributed capital

1 500 000,00 €

Latest accounts

31/12/2025

Average workforce

181,5 ETP

Joint committees (3)

Contacts

3 public details availableLog in to view

Signals

ProfitableLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

Health score

Available with a Rovalta subscriptionTry for 7 days

Recommended credit limit

✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Revenue	100,8 M €	-42.5%	175,5 M €	+8.1%	162,4 M €	+52.6%	106,4 M €	-12.0%	120,9 M €	-3.2%	124,9 M €	-30.6%	179,9 M €	+42.9%	125,9 M €	-1.2%	127,4 M €	-26.9%	174,3 M €	+47.7%	118 M €	+157%	45,8 M €	+51.8%	30,2 M €	-3.1%	31,2 M €	+22.7%	25,4 M €	+21.3%	20,9 M €	-60.2%	52,6 M €	+107%	25,5 M €	+10.2%	23,1 M €
EBITDA	14,2 M €	-8.4%	15,5 M €	+68.2%	9,2 M €	+548%	1,4 M €	-13.1%	1,6 M €	-35.4%	2,5 M €	-60.4%	6,4 M €	+74.2%	3,7 M €	-17.3%	4,4 M €	-10.5%	5 M €	+76.2%	2,8 M €	+138%	1,2 M €	+15701%	7,5 k €	-98.9%	690,4 k €	-2.3%	706,5 k €	+14.6%	616,2 k €	+69.9%	362,7 k €	-77.1%	1,6 M €	+364%	341,1 k €
Operating result	13,5 M €	-1.7%	13,7 M €	+132%	5,9 M €	+156%	2,3 M €	+267%	-1,4 M €	-152%	2,7 M €	-34.2%	4,1 M €	+31.4%	3,1 M €	-14.6%	3,6 M €	-19.9%	4,6 M €	+182%	1,6 M €	+122%	726,9 k €	+386%	-253,8 k €	-141%	625,6 k €	-1.7%	636,5 k €	+21.7%	523,2 k €	+126%	231,8 k €	-83.4%	1,4 M €	+490%	237 k €
Net result	11,3 M €	-4.2%	11,8 M €	+133%	5,1 M €	+179%	1,8 M €	+210%	-1,6 M €	-195%	1,7 M €	-26.0%	2,3 M €	+13.7%	2,1 M €	+2.2%	2 M €	-26.6%	2,7 M €	+77.1%	1,5 M €	+199%	517,9 k €	+354%	-203,9 k €	-146%	443,9 k €	-9.4%	490,1 k €	+41.1%	347,3 k €	+57.3%	220,8 k €	-82.3%	1,2 M €	+444%	229 k €
Balance sheet
Equity	26 M €	+5.2%	24,7 M €	+50.5%	16,4 M €	+14.3%	14,4 M €	+14.4%	12,5 M €	-11.6%	14,2 M €	+0.9%	14,1 M €	+20.0%	11,7 M €	+21.3%	9,7 M €	+26.3%	7,6 M €	+55.9%	4,9 M €	+46.2%	3,4 M €	+18.3%	2,8 M €	-6.7%	3 M €	+1.5%	3 M €	+1.4%	3 M €	+1.6%	2,9 M €	+8.2%	2,7 M €	+86.2%	1,4 M €
Total assets	127,6 M €	+3.6%	123,2 M €	+10.4%	111,6 M €	+40.8%	79,2 M €	+3.7%	76,4 M €	-28.2%	106,3 M €	-4.4%	111,2 M €	+14.5%	97,1 M €	-9.5%	107,3 M €	+10.7%	96,9 M €	-14.6%	113,5 M €	+58.8%	71,5 M €	+99.9%	35,8 M €	-24.4%	47,3 M €	+145%	19,3 M €	-6.6%	20,6 M €	+22.0%	16,9 M €	-61.5%	44 M €	+173%	16,1 M €
Cash	1,2 M €	-33.9%	1,8 M €	-71.1%	6,3 M €	+2.2%	6,1 M €	-46.1%	11,4 M €	-44.3%	20,5 M €	+230%	6,2 M €	+70.6%	3,6 M €	-17.3%	4,4 M €	+45.5%	3 M €	+427%	574,3 k €	+491%	97,1 k €	+672%	12,6 k €	-95.5%	279,1 k €	+204%	91,9 k €	-71.8%	326,1 k €	-37.3%	520,4 k €	-30.1%	744,1 k €	-11.4%	839,9 k €
Debts	43,3 M €	-53.5%	93 M €	+2.0%	91,2 M €	+53.5%	59,4 M €	+7.3%	55,4 M €	-28.0%	76,9 M €	-5.5%	81,3 M €	+17.3%	69,3 M €	-13.1%	79,8 M €	+9.1%	73,2 M €	-18.4%	89,7 M €	+34.6%	66,6 M €	+109%	31,9 M €	-26.3%	43,3 M €	+258%	12,1 M €	+8.9%	11,1 M €	-17.5%	13,5 M €	-67.1%	40,9 M €	+183%	14,5 M €
Other
Workforce	181,5 ETP	-4.3%	189,6 ETP	-4.0%	197,6 ETP	-1.4%	200,5 ETP	-7.0%	215,5 ETP	-4.1%	224,8 ETP	-2.3%	230,0 ETP	+6.1%	216,7 ETP	+1.1%	214,4 ETP	-4.8%	225,1 ETP	+37.2%	164,1 ETP	+167%	61,5 ETP	+5.3%	58,4 ETP	-7.6%	63,2 ETP	+16.6%	54,2 ETP	+6.1%	51,1 ETP	-11.6%	57,8 ETP	-13.3%	66,7 ETP	-9.7%	73,9 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 100 M€ and 250 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 6 active · 60 ended

Active mandates

Lamcy

Director · since 05 janvier 2026 · until 15 avril 2027 · 1030.192.458

Represented by Bruno Lambrecht

Active

Nadine SIMONS

Director · since 31 octobre 2024 · until 15 avril 2027

Active

Bruno Lambrecht

Director · since 01 octobre 2024 · until 05 janvier 2026

Active

Fabien DE JONGE

Director · since 15 avril 2021 · until 15 avril 2027

Active

Luc STUYCK

Director · since 15 avril 2021 · until 15 avril 2027

Active

TROREMA

Director · since 15 avril 2021 · until 15 avril 2027 · 0899.683.413

Represented by Raymund TROST

Active

Ended mandates

Bruno Lambrecht

Director · since 01 octobre 2024 · until 15 avril 2027

Ended

CARDUUS CONSULTING

Director · since 07 juin 2023 · until 31 octobre 2024 · 0849.458.791

Represented by Laurent Eeraerts

Ended

CARDUUS CONSULTING

Director · since 07 juin 2023 · until 07 juin 2027 · 0849.458.791

Represented by Laurent Eeraerts

Ended

AHO Consulting

Director · since 31 mai 2022 · until 01 octobre 2024 · 0536.430.784

Represented by Alexander HODAC

Ended

At this address

Other companies at this address

Company	CBE no.
INFOMAT● Active	0460.190.566
Kerridge Commercial Systems Belgium● Active	0662.902.849
LIYOURA● Active	1032.209.563
NORWAY FOODS (EUROPE)● Active	0420.395.822
THV CFE BOUW VLAANDEREN - BE.MAINTENANCE● Active	0656.625.761
Tijdelijke maatschap Cunha-MBG● Active	0795.223.618
Tijdelijke vennootschap D&E-CFE GBW● Active	0715.887.219
TM MBG - ASK Romein Malle● Active	0776.494.304
TM MBG-CIT● Active	1011.244.103
TM MBG-EVR/Inbo - Arcadis● Active	0783.257.578
TM MBG-VMA● Active	0773.998.038
TM MBG-VMA BN5● Active	1006.446.858
TM MBG-VMA BSB● Active	1035.283.572
TM SCO - MBG● Active	0799.749.162

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Full 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	21/04/2026	15/05/2025	14/05/2024	27/04/2023	27/04/2022	16/04/2021
General meeting	16/04/2026	17/04/2025	18/04/2024	20/04/2023	21/04/2022	15/04/2021
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

Looking for more information about this company?

Try for 7 days

Filings

Annual accounts filings

19 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	16/04/2026	21/04/2026	Dutch	PDF
Full model	31/12/2024	17/04/2025	15/05/2025	Dutch	PDF
Full model	31/12/2023	18/04/2024	14/05/2024	Dutch	PDF
Full model	31/12/2022	20/04/2023	27/04/2023	Dutch	PDF
Full model	31/12/2021	21/04/2022	27/04/2022	Dutch	PDF
Full model	31/12/2020	15/04/2021	16/04/2021	Dutch	PDF
Full model	31/12/2019	18/05/2020	18/05/2020	Dutch	PDF
Full model	31/12/2018	18/04/2019	23/04/2019	Dutch	PDF
Full model	31/12/2017	19/04/2018	20/04/2018	Dutch	PDF
Full model	31/12/2016	20/04/2017	20/04/2017	Dutch	PDF
Full model	31/12/2015	21/04/2016	12/05/2016	Dutch	PDF
Full model	31/12/2014	16/04/2015	08/06/2015	French	PDF
Full model	31/12/2013	17/04/2014	21/05/2014	French	PDF
Full model	31/12/2012	18/04/2013	26/06/2013	French	PDF
Full model	31/12/2011	03/05/2012	30/05/2012	French	PDF
Full model	31/12/2010	05/05/2011	17/06/2011	French	PDF
Full model	31/12/2009	07/05/2010	06/07/2010	French	PDF
Full model	31/12/2008	07/05/2009	30/06/2009	French	PDF
Full model	30/06/2007	08/11/2007	20/12/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 M€ and 250 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 · 6 active · 60 ended

Active mandates

Lamcy

Director · since 05 janvier 2026 · until 15 avril 2027 · 1030.192.458

Represented by Bruno Lambrecht

Active

Nadine SIMONS

Director · since 31 octobre 2024 · until 15 avril 2027

Active

Bruno Lambrecht

Director · since 01 octobre 2024 · until 05 janvier 2026

Active

Fabien DE JONGE

Director · since 15 avril 2021 · until 15 avril 2027

Active

Luc STUYCK

Director · since 15 avril 2021 · until 15 avril 2027

Active

TROREMA

Director · since 15 avril 2021 · until 15 avril 2027 · 0899.683.413

Represented by Raymund TROST

Active

Ended mandates

Bruno Lambrecht

Director · since 01 octobre 2024 · until 15 avril 2027

Ended

CARDUUS CONSULTING

Director · since 07 juin 2023 · until 31 octobre 2024 · 0849.458.791

Represented by Laurent Eeraerts

Ended

CARDUUS CONSULTING

Director · since 07 juin 2023 · until 07 juin 2027 · 0849.458.791

Represented by Laurent Eeraerts

Ended

AHO Consulting

Director · since 31 mai 2022 · until 01 octobre 2024 · 0536.430.784

Represented by Alexander HODAC

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates21/05/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates04/02/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates21/05/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates04/12/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates17/07/2024
ONTSLAGEN - BENOEMINGEN
PDF
Other20/12/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates11/07/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates06/06/2023
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

16/04/2026
reconductionLamcy BV — bestuurder
05/01/2026
nominationLamcy BV — bestuurder
2025
Annual accounts 202511,3 M €↓
17/04/2025
reconductionBruno Lambrecht — bestuurder
17/04/2025
reconductionNadine Simons — bestuurder
2024
Annual accounts 202411,8 M €↑
31/10/2024
nominationNadine Simons — bestuurder
01/10/2024
nominationBruno Lambrecht — bestuurder
18/04/2024
reconductionEY Bedrijfsrevisoren BV — commissaris
2023
Annual accounts 20235,1 M €↑
07/06/2023
nominationCarduus Consulting BV — bestuurder
20/04/2023
reconductionAHO Consulting BV, vast vertegenwoordigd door Alexander HODAC — bestuurder
2022
Annual accounts 20221,8 M €↑
31/05/2022
nominationAHO Consulting BV — bestuurder
2021
Annual accounts 2021-1,6 M €↓
2020
Annual accounts 20201,7 M €↓
2019
Annual accounts 20192,3 M €↑
2018
Annual accounts 20182,1 M €↑
2017
Annual accounts 20172 M €↓
2016
Annual accounts 20162,7 M €↑
2015
Annual accounts 20151,5 M €↑
2014
Annual accounts 2014517,9 k €↑
2013
Annual accounts 2013-203,9 k €↓
2012
Annual accounts 2012443,9 k €↓
2011
Annual accounts 2011490,1 k €↑
2010
Annual accounts 2010347,3 k €↑
2009
Annual accounts 2009220,8 k €↓
2008
Annual accounts 20081,2 M €↑
2007
Annual accounts 2007229 k €
03/07/1973
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

MBG

Overview

What does MBG do?

Trend over 19 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