ACTIVE

M.H.C.

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Financial year 2025 · closed on 31/12/2025

Net result

-252,6 k €

-108.3% YoY

Gross margin

-44,1 k €

-185.3% YoY

Equity

623 k €

-28.9% YoY

Workforce

0,0 ETP

What does M.H.C. do?

M.H.C. is a Public limited company incorporated in 1982. Its main activity is: Buying and selling of own real estate. Its registered office is in Knokke-Heist.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0423.393.815

Incorporation

22/12/1982

Legal form

Public limited company

Registered office

Zeedijk-Albertstrand 505 box 32
8300 Knokke-Heist · FlandreSee on map

Contributed capital

62 000,00 €

Latest accounts

31/12/2025

Average workforce

0,0 ETP

Activities (NACE)

68110Buying and selling of own real estate· main

Signals

Solid equity

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	-44,1 k €	-185%	51,7 k €	+20.5%	42,9 k €	+214%	-37,6 k €	-104%	1 M €	+361%	221,6 k €	+63.9%	135,3 k €	-16.5%	162,1 k €	+39.7%	116 k €	+35.8%	85,4 k €	+22.4%	69,8 k €	+6.5%	65,5 k €	-16.9%	78,9 k €	-7.4%	85,1 k €	+8.9%	78,2 k €	-3.5%	81 k €	-15.7%	96 k €	+11.8%	85,9 k €	-1.9%	87,6 k €
EBITDA	-111 k €	-361%	42,6 k €	+23.5%	34,5 k €	+174%	-46,8 k €	-105%	1 M €	+363%	218,6 k €	+69.2%	129,2 k €	-17.6%	156,8 k €	+43.1%	109,6 k €	+39.3%	78,7 k €	+25.5%	62,7 k €	+7.8%	58,2 k €	-19.5%	72,3 k €	-8.3%	78,8 k €	+8.5%	72,6 k €	+1.1%	71,8 k €	-15.5%	85 k €	+7.8%	78,9 k €	-2.1%	80,5 k €
Operating result	-175,6 k €	-696%	-22 k €	-21.1%	-18,2 k €	+79.9%	-90,4 k €	-109%	977,3 k €	+592%	141,1 k €	+76.7%	79,9 k €	-27.1%	109,5 k €	+75.1%	62,6 k €	+93.4%	32,3 k €	+68.9%	19,2 k €	+22.5%	15,6 k €	-45.3%	28,6 k €	-35.1%	44,1 k €	+16.4%	37,9 k €	+2.1%	37,1 k €	-26.3%	50,3 k €	+14.0%	44,2 k €	-3.6%	45,8 k €
Net result	-252,6 k €	-108%	-121,3 k €	-14.7%	-105,7 k €	-2.5%	-103,2 k €	-116%	636,1 k €	+463%	112,9 k €	+32.4%	85,3 k €	+14.1%	74,7 k €	+105%	36,5 k €	+104%	17,9 k €	+776%	-2,6 k €	+93.8%	-42,4 k €	-392%	14,5 k €	-34.9%	22,3 k €	+21.7%	18,3 k €	+19.2%	15,4 k €	-8.0%	16,7 k €	+38.8%	12 k €	+25.0%	9,6 k €
Balance sheet
Equity	623 k €	-28.9%	875,6 k €	-12.2%	996,9 k €	-9.6%	1,1 M €	-8.6%	1,2 M €	+112%	569,7 k €	+62.4%	350,7 k €	+32.1%	265,5 k €	+39.2%	190,7 k €	+23.7%	154,2 k €	+13.1%	136,4 k €	-1.9%	139 k €	-23.4%	181,4 k €	+8.7%	166,9 k €	+15.4%	144,6 k €	+14.5%	126,3 k €	+13.8%	110,9 k €	+17.7%	94,3 k €	+14.6%	82,2 k €
Total assets	1,4 M €	-61.5%	3,8 M €	+0.2%	3,8 M €	+13.1%	3,3 M €	-10.8%	3,7 M €	+65.6%	2,2 M €	+126%	997 k €	-6.1%	1,1 M €	-4.2%	1,1 M €	+15.4%	960,6 k €	-9.9%	1,1 M €	-5.6%	1,1 M €	+39.9%	807,6 k €	+13.0%	714,9 k €	+52.7%	468,1 k €	-10.9%	525,5 k €	-9.9%	583,4 k €	-3.5%	604,8 k €	-4.5%	633,4 k €
Cash	80,4 k €	+1085%	6,8 k €	+47.9%	4,6 k €	-98.8%	369,6 k €	-57.7%	874,5 k €	+4253%	20,1 k €		–		7 €	-97.9%	326,2 €	-44.7%	590 €	-84.8%	3,9 k €	-89.6%	37,4 k €	+135%	15,9 k €	-65.8%	46,5 k €	+457%	8,3 k €	+30.5%	6,4 k €	-71.1%	22,1 k €	+37.7%	16,1 k €	-10.9%	18 k €
Debts	826,6 k €	-71.4%	2,9 M €	+4.7%	2,8 M €	+24.3%	2,2 M €	-11.8%	2,5 M €	+50.0%	1,7 M €	+160%	645,8 k €	-18.9%	796,1 k €	-13.2%	917,3 k €	+13.8%	805,9 k €	-13.0%	926,5 k €	-6.4%	989,5 k €	+58.1%	625,7 k €	+14.3%	547,4 k €	+69.6%	322,7 k €	-19.0%	398,3 k €	-15.1%	468,9 k €	-7.5%	507 k €	-7.4%	547,5 k €
Other
Workforce	0,0 ETP		0,0 ETP		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 500 k€ and 1 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 4 ended

Active mandates

Hildegarde Cuykx

Managing director · since 08 juin 2007 · until 14 juin 2030

Active

Ended mandates

Cecilia Verhaeghe

Director · since 08 juin 2007 · until 14 juin 2024

Ended

Cecilia VERHAEGHE

Director

Ended

Hildegarde CUYKX

Managing director

Ended

Hilodegarde CUYKX

Managing director

Ended

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	08/07/2026	18/07/2025	03/07/2024	04/07/2023	08/07/2022	15/06/2021
General meeting	12/06/2026	13/06/2025	14/06/2024	09/06/2023	10/06/2022	11/06/2021
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

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	12/06/2026	08/07/2026	Dutch	PDF
Abridged model	31/12/2024	13/06/2025	18/07/2025	Dutch	PDF
Abridged model	31/12/2023	14/06/2024	03/07/2024	Dutch	PDF
Abridged model	31/12/2022	09/06/2023	04/07/2023	Dutch	PDF
Abridged model	31/12/2021	10/06/2022	08/07/2022	Dutch	PDF
Abridged model	31/12/2020	11/06/2021	15/06/2021	Dutch	PDF
Abridged model	31/12/2019	12/06/2020	19/06/2020	Dutch	PDF
Abridged model	31/12/2018	14/06/2019	17/06/2019	Dutch	PDF
Abridged model	31/12/2017	08/06/2018	27/06/2018	Dutch	PDF
Abridged model	31/12/2016	09/06/2017	26/06/2017	Dutch	PDF
Abridged model	31/12/2015	10/06/2016	13/06/2016	Dutch	PDF
Abridged model	31/12/2014	12/06/2015	18/08/2015	Dutch	PDF
Abridged model	31/12/2013	13/06/2014	04/07/2014	Dutch	PDF
Abridged model	31/12/2012	14/06/2013	08/08/2013	Dutch	PDF
Abridged model	31/12/2011	08/06/2012	27/08/2012	Dutch	PDF
Abridged model	31/12/2010	10/06/2011	18/08/2011	Dutch	PDF
Abridged model	31/12/2009	11/06/2010	24/08/2010	Dutch	PDF
Abridged model	31/12/2008	12/06/2009	13/08/2009	Dutch	PDF
Abridged model	31/12/2007	13/06/2008	19/08/2008	Dutch	PDF
Abridged model	31/12/2006	08/06/2007	27/08/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 k€ and 1 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 · 1 active · 4 ended

Active mandates

Hildegarde Cuykx

Managing director · since 08 juin 2007 · until 14 juin 2030

Active

Ended mandates

Cecilia Verhaeghe

Director · since 08 juin 2007 · until 14 juin 2024

Ended

Cecilia VERHAEGHE

Director

Ended

Hildegarde CUYKX

Managing director

Ended

Hilodegarde CUYKX

Managing director

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Registered office23/01/2026
MAATSCHAPPELIJKE ZETEL
PDF
Mandates30/06/2025
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares25/01/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - KAPITAAL - AANDELEN - ALGEMENE VERGADERING
PDF
Mandates11/12/2019
ONTSLAGEN - BENOEMINGEN
PDF
Mandates31/01/2014
ONTSLAGEN - BENOEMINGEN
PDF
Other14/01/2013
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates29/01/2008
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

2025
Annual accounts 2025-252,6 k €↓
2024
Annual accounts 2024-121,3 k €↓
2023
Annual accounts 2023-105,7 k €↓
2022
Annual accounts 2022-103,2 k €↓
2021
Annual accounts 2021636,1 k €↑
2020
Annual accounts 2020112,9 k €↑
2018
Annual accounts 201885,3 k €↑
2017
Annual accounts 201774,7 k €↑
2016
Annual accounts 201636,5 k €↑
2015
Annual accounts 201517,9 k €↑
2014
Annual accounts 2014-2,6 k €↑
2013
Annual accounts 2013-42,4 k €↓
2012
Annual accounts 201214,5 k €↓
2011
Annual accounts 201122,3 k €↑
2010
Annual accounts 201018,3 k €↑
2009
Annual accounts 200915,4 k €↓
2008
Annual accounts 200816,7 k €↑
2007
Annual accounts 200712 k €↑
2006
Annual accounts 20069,6 k €
22/12/1982
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

M.H.C.

Overview

What does M.H.C. do?

Trend over 19 financial years

Indicative valuation

Board of directors

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