ACTIVE

MGC Subcontracting

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Financial year 2025 · closed on 31/12/2025
Net result
486,3 k €
+59.5% YoY
Gross margin
2,7 M €
+7.6% YoY
Equity
4,6 M €
+8.4% YoY
Workforce
15,2 ETP
-10.6% YoY

What does MGC Subcontracting do?

MGC Subcontracting is a Private limited company incorporated in 1976. Its main activity is: Preparation and spinning of textile fibres. Its registered office is in Waregem. It employs on average 15,2 ETP workers (FTE).

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0415.808.415
Incorporation
01/01/1976
Legal form
Private limited company
Registered office
Leemputstraat 108
8792 Waregem · FlandreSee on map
Contributed capital
1 550 000,00 €
Latest accounts
31/12/2025
Average workforce
15,2 ETP
Activities (NACE)
13100Preparation and spinning of textile fibres· main13100Preparation and spinning of textile fibres17110Manufacture of pulp28940Manufacture of machinery for textile, apparel and leather production28940Manufacture of machinery for textile, apparel and leather production
Joint committees (5)
  • 111
  • 1110
  • 120
  • 209
  • 2090
Signals
ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts
View the BCE/KBO Public Search record →
Health score
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Recommended credit limit
✦ Verdict · Analyst summary
Financials

Trend over 18 financial years

202520242023202220212018201720162015201420132012201120102009200820072006
Income statement
Gross margin2,7 M €2,5 M €2,6 M €2,4 M €1,8 M €1,5 M €1,3 M €1,2 M €–––––––-14,8 k €-17,1 k €15,5 k €
EBITDA1,3 M €1,1 M €1,3 M €1,1 M €826,9 k €451,2 k €587,3 k €576,3 k €494,6 k €474,8 k €393 k €350,8 k €402,4 k €171,9 k €248,8 k €-16,3 k €-23,3 k €9,8 k €
Operating result642,7 k €471,2 k €512,8 k €679,7 k €598,2 k €85,2 k €166,7 k €102,5 k €-10,2 k €89 k €20,8 k €7,5 k €196,9 k €61,6 k €210,7 k €-16,6 k €-23,7 k €9,4 k €
Net result486,3 k €304,9 k €350,8 k €505,1 k €452,7 k €57,1 k €110,7 k €61,8 k €-10,5 k €37,5 k €4,2 k €-1,5 k €190,4 k €61,9 k €78,5 k €-9,7 k €-22,6 k €5,1 k €
Balance sheet
Equity4,6 M €4,2 M €3,9 M €2 M €1,5 M €790 k €942,9 k €850,3 k €788,5 k €799 k €761,5 k €757,3 k €758,8 k €568,4 k €506,5 k €428 k €437,7 k €82,5 k €
Total assets6,3 M €6,4 M €6,9 M €5,5 M €2,8 M €2,2 M €2,4 M €2 M €2,1 M €1,9 M €1,9 M €1,8 M €1,9 M €1,4 M €716 k €435,6 k €454,1 k €96,1 k €
Cash592,7 k €447,7 k €335,8 k €457,2 k €380,1 k €249,8 k €201,7 k €223,1 k €201,1 k €188,9 k €229,7 k €143,9 k €128,9 k €196,3 k €21,9 k €37,7 k €115,9 k €42 k €
Debts1,6 M €2,1 M €2,9 M €3,3 M €1,1 M €1,3 M €1,4 M €1,1 M €1,2 M €1 M €993,5 k €939,8 k €989,1 k €697,1 k €70,4 k €7,6 k €16,4 k €13,6 k €
Other
Workforce15,2 ETP17,0 ETP18,0 ETP18,1 ETP15,3 ETP16,9 ETP11,8 ETP11,4 ETP10,6 ETP9,9 ETP10,1 ETP8,8 ETP8,5 ETP6,8 ETP0,9 ETP–––
Estimate

Indicative valuation

As an indication, this company is worth

between 5 M€ and 10 M€
See the valuation
Governance

Board of directors

Seen on filing of 31/12/2025 · 4 active · 9 ended

Active mandates

Bloom Management

Director · since 30 juin 2025 · 1005.440.731

Represented by Charlotte Matthys

Active
JME Solutions

Director · since 30 juin 2025 · 1005.441.127

Represented by Justin Matthys

Active
Valmaco

Director · since 30 juin 2025 · 1009.588.371

Represented by Valérie Matthys

Active
MWM

Director · 0454.725.112

Represented by Wim Matthys

Active

Ended mandates

MWM

Manager · since 22 septembre 2008 · until 31 décembre 2008 · 0454.725.112

Represented by Wim Matthys

Ended
MWM

Director · since 22 septembre 2008 · 0454.725.112

Represented by Wim Matthys

Ended
MWM

Manager · since 22 septembre 2008 · 0454.725.112

Represented by Wim Matthys

Ended
Michel DE WITTE

Manager · since 01 janvier 2008 · until 22 septembre 2008

Ended
Annual accounts

Full financial information

202520242023202220212020
Type of accountAbridged modelAbridged modelAbridged modelAbridged modelAbridged modelAbridged model
Start of the financial year01/01/202501/01/202401/01/202301/01/202201/01/202101/01/2020
Closing of the financial year31/12/202531/12/202431/12/202331/12/202231/12/202131/12/2020
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date09/06/202616/07/202504/06/202420/06/202307/06/202207/06/2021
General meeting06/06/202630/06/202501/06/202403/06/202304/06/202205/06/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls
Ratios

Financial ratios

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Filings

Annual accounts filings

20 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Abridged model31/12/202506/06/202609/06/2026DutchPDF
Abridged model31/12/202430/06/202516/07/2025DutchPDF
Abridged model31/12/202301/06/202404/06/2024DutchPDF
Abridged model31/12/202203/06/202320/06/2023DutchPDF
Abridged model31/12/202104/06/202207/06/2022DutchPDF
Abridged model31/12/202005/06/202107/06/2021DutchPDF
Abridged model31/12/201906/06/202008/06/2020DutchPDF
Abridged model31/12/201801/06/201928/06/2019DutchPDF
Abridged model31/12/201702/06/201806/06/2018DutchPDF
Abridged model31/12/201630/06/201720/07/2017DutchPDF
Full model31/12/201504/06/201607/06/2016DutchPDF
Full model31/12/201406/06/201510/07/2015DutchPDF
Full model31/12/201307/06/201419/06/2014DutchPDF
Full model31/12/201201/06/201314/06/2013DutchPDF
Full model31/12/201102/06/201230/08/2012DutchPDF
Full model31/12/201004/06/201128/07/2011DutchPDF
Full model31/12/200907/06/201014/06/2010DutchPDF
Abridged model31/12/200813/06/200923/06/2009DutchPDF
Abridged model31/12/200714/06/200820/06/2008DutchPDF
Abridged model31/12/200609/06/200724/08/2007DutchPDF
Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 5 M€ and 10 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 · 4 active · 9 ended

Active mandates

Bloom Management

Director · since 30 juin 2025 · 1005.440.731

Represented by Charlotte Matthys

Active
JME Solutions

Director · since 30 juin 2025 · 1005.441.127

Represented by Justin Matthys

Active
Valmaco

Director · since 30 juin 2025 · 1009.588.371

Represented by Valérie Matthys

Active
MWM

Director · 0454.725.112

Represented by Wim Matthys

Active

Ended mandates

MWM

Manager · since 22 septembre 2008 · until 31 décembre 2008 · 0454.725.112

Represented by Wim Matthys

Ended
MWM

Director · since 22 septembre 2008 · 0454.725.112

Represented by Wim Matthys

Ended
MWM

Manager · since 22 septembre 2008 · 0454.725.112

Represented by Wim Matthys

Ended
Michel DE WITTE

Manager · since 01 janvier 2008 · until 22 septembre 2008

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Restructuring08/09/2026
    MET SPLITSING GELIJKGESTELDE VERRICHTING IN DE ZIN VAN ARTIKEL
    PDF
  • Restructuring10/06/2026
    RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
    PDF
  • Mandates24/09/2025
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates06/02/2023
    WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN
    PDF
  • Other17/05/2016
    DOEL - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …)
    PDF
  • Other04/03/2010
    BENAMING - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …)
    PDF
  • Mandates07/10/2008
    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

Timeline

  1. 2025
    Annual accounts 2025486,3 k €↑
  2. 2024
    Annual accounts 2024304,9 k €↓
  3. 2023
    Annual accounts 2023350,8 k €↓
  4. 2022
    Annual accounts 2022505,1 k €↑
  5. 2021
    Annual accounts 2021452,7 k €↑
  6. 2018
    Annual accounts 201857,1 k €↓
  7. 2017
    Annual accounts 2017110,7 k €↑
  8. 2016
    Annual accounts 201661,8 k €↑
  9. 2015
    Annual accounts 2015-10,5 k €↓
  10. 2014
    Annual accounts 201437,5 k €↑
  11. 2013
    Annual accounts 20134,2 k €↑
  12. 2012
    Annual accounts 2012-1,5 k €↓
  13. 2011
    Annual accounts 2011190,4 k €↑
  14. 2010
    Annual accounts 201061,9 k €↓
  15. 2009
    Annual accounts 200978,5 k €↑
  16. 2008
    Annual accounts 2008-9,7 k €↑
  17. 2007
    Annual accounts 2007-22,6 k €↓
  18. 2006
    Annual accounts 20065,1 k €
  19. 01/01/1976
    IncorporationPrivate limited company