ACTIVE

MF CONSULT

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Financial year 2025 · closed on 30/06/2025

Net result

1,2 M €

+37.8% YoY

Gross margin

4,7 M €

+21.1% YoY

Equity

4,5 M €

+14.4% YoY

Workforce

1,0 ETP

0.0% YoY

What does MF CONSULT do?

MF CONSULT is a Private limited company incorporated in 1988. Its main activity is: Management consultancy activities. Its registered office is in Bruxelles. It employs on average 1,0 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0434.483.982

Incorporation

02/06/1988

Legal form

Private limited company

Registered office

Quai aux Briques 32 box 20
1000 Bruxelles · BruxellesSee on map

Contributed capital

323 000,00 €

Latest accounts

30/06/2025

Average workforce

1,0 ETP

Activities (NACE)

70200Management consultancy activities· main 70220Business and other management consultancy activities 74142Specialised design activities 77391Rental and leasing of other machinery, equipment and tangible goods n.e.c.77391Rental and leasing of other machinery, equipment and tangible goods n.e.c.

Joint committees (2)

Signals

ProfitableSolid equityPositive cashflowPositive EBITDAHealthy social debts

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Health score

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✦ 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
Gross margin	4,7 M €	+21.1%	3,9 M €	+3.1%	3,8 M €	+43.2%	2,6 M €	+66.0%	1,6 M €	-21.6%	2 M €	-18.2%	2,5 M €	-5.5%	2,6 M €	+2.3%	2,5 M €	-5.7%	2,7 M €	+21.4%	2,2 M €	+11.4%	2 M €	-1.9%	2 M €	+31.9%	1,5 M €	+13.1%	1,4 M €	+7.2%	1,3 M €	+21.1%	1 M €	+16.1%	903,6 k €	+37.8%	656 k €
EBITDA	4,5 M €	+21.0%	3,8 M €	+4.6%	3,6 M €	+44.0%	2,5 M €	+66.8%	1,5 M €	-22.7%	1,9 M €	-18.6%	2,4 M €	-5.7%	2,5 M €	+3.8%	2,4 M €	-6.9%	2,6 M €	+22.4%	2,1 M €	+9.3%	1,9 M €	-0.2%	2 M €	+31.5%	1,5 M €	+13.1%	1,3 M €	+7.3%	1,2 M €	+21.1%	1 M €	+16.7%	864,9 k €	+40.0%	617,9 k €
Operating result	1,7 M €	+23.1%	1,4 M €	+6.4%	1,3 M €	+216%	404,7 k €	+548%	-90,3 k €	-124%	376,3 k €	+1.8%	369,7 k €	+37.5%	269 k €	-43.8%	478,6 k €	+4.9%	456,3 k €	+73.8%	262,5 k €	-20.6%	330,6 k €	-11.4%	373,3 k €	+33.7%	279,2 k €	+47.0%	189,9 k €	-30.1%	271,7 k €	+10.6%	245,6 k €	+18.8%	206,8 k €	+85.1%	111,7 k €
Net result	1,2 M €	+37.8%	843,7 k €	-2.1%	861,6 k €	+234%	258,1 k €	+355%	-101,3 k €	-137%	276,6 k €	+26.5%	218,7 k €	+96.4%	111,3 k €	-61.8%	291,3 k €	+15.2%	252,8 k €	+69.0%	149,6 k €	-10.0%	166,2 k €	-17.9%	202,5 k €	+113%	94,9 k €	+30.4%	72,8 k €	-44.6%	131,3 k €	+46.5%	89,6 k €	+67.1%	53,6 k €	+834%	5,7 k €
Balance sheet
Equity	4,5 M €	+14.4%	3,9 M €	+27.4%	3,1 M €	+38.9%	2,2 M €	+13.2%	2 M €	-4.9%	2,1 M €	+12.5%	1,8 M €	+14.0%	1,6 M €	+7.5%	1,5 M €	+24.2%	1,2 M €	+26.6%	949 k €	+16.9%	811,6 k €	+19.5%	679 k €	+42.5%	476,5 k €	+24.9%	381,6 k €	+23.6%	308,8 k €	+74.0%	177,5 k €	+102%	87,8 k €	+157%	34,2 k €
Total assets	13,8 M €	+17.6%	11,8 M €	+22.8%	9,6 M €	+6.1%	9 M €	+36.6%	6,6 M €	+6.4%	6,2 M €	-6.3%	6,6 M €	-19.2%	8,2 M €	-4.8%	8,6 M €	+15.2%	7,5 M €	+0.5%	7,4 M €	+11.9%	6,6 M €	+5.0%	6,3 M €	+10.8%	5,7 M €	+27.2%	4,5 M €	-0.6%	4,5 M €	+34.7%	3,4 M €	+18.4%	2,8 M €	+20.6%	2,3 M €
Cash	113,6 k €	+11.3%	102,1 k €	-15.4%	120,6 k €	-10.5%	134,7 k €	+161%	51,6 k €	-65.5%	149,7 k €	-12.9%	172 k €	+65.9%	103,6 k €	+290%	26,6 k €	-59.7%	65,9 k €	-22.9%	85,6 k €	+298%	21,5 k €	-47.5%	40,9 k €	+152%	16,2 k €	-53.5%	34,8 k €	+54.9%	22,5 k €	+19.3%	18,8 k €	-60.7%	47,9 k €	+40.3%	34,2 k €
Debts	9,1 M €	+20.4%	7,6 M €	+19.1%	6,4 M €	-4.7%	6,7 M €	+47.7%	4,5 M €	+15.6%	3,9 M €	-16.1%	4,7 M €	-27.5%	6,4 M €	-7.2%	6,9 M €	+14.2%	6,1 M €	-4.0%	6,3 M €	+11.2%	5,7 M €	+2.5%	5,6 M €	+7.4%	5,2 M €	+27.7%	4,1 M €	-2.4%	4,2 M €	+32.9%	3,1 M €	+17.1%	2,7 M €	+16.1%	2,3 M €
Other
Workforce	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 25 M€ and 50 M€

See the valuation

Governance

Board of directors

Seen on filing of 30/06/2025 · 2 active · 2 ended

Active mandates

Michael FORIERS

Mandate

Active

Michel Foriers

Mandate

Active

Ended mandates

Michael FORIERS

Manager · since 10 octobre 2020

Ended

Michel Foriers

Manager · since 29 juin 1988

Ended

At this address

Other companies at this address

Company	CBE no.
CHAUFFAGE ET SANITAIRE A. COLLET● Active	0417.728.619
Flamingo● Active	0422.464.692
FORIERS ASSOCIATES AND COMPANY● Active	0417.925.488
JANKAT● Active	0463.077.901
MASSINVEST● Active	0775.937.345

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	01/07/2024	01/07/2023	01/07/2022	01/07/2021	01/07/2020	01/07/2019
Closing of the financial year	30/06/2025	30/06/2024	30/06/2023	30/06/2022	30/06/2021	30/06/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	22/11/2025	20/12/2024	14/11/2023	11/12/2022	19/12/2021	15/11/2020
General meeting	17/11/2025	08/12/2024	10/11/2023	28/11/2022	16/11/2021	10/10/2020
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

19 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	30/06/2025	17/11/2025	22/11/2025	French	PDF
Abridged model	30/06/2024	08/12/2024	20/12/2024	French	PDF
Abridged model	30/06/2023	10/11/2023	14/11/2023	French	PDF
Abridged model	30/06/2022	28/11/2022	11/12/2022	French	PDF
Abridged model	30/06/2021	16/11/2021	19/12/2021	French	PDF
Abridged model	30/06/2020	10/10/2020	15/11/2020	French	PDF
Abridged model	30/06/2019	06/12/2019	12/12/2019	French	PDF
Abridged model	30/06/2018	01/12/2018	03/12/2018	French	PDF
Abridged model	30/06/2017	22/12/2017	28/12/2017	French	PDF
Abridged model	30/06/2016	17/12/2016	21/12/2016	French	PDF
Abridged model	30/06/2015	14/12/2015	29/12/2015	French	PDF
Abridged model	30/06/2014	23/12/2014	31/01/2015	French	PDF
Abridged model	30/06/2013	17/12/2013	28/12/2013	French	PDF
Abridged model	30/06/2012	07/12/2012	27/12/2012	French	PDF
Abridged model	30/06/2011	02/12/2011	23/12/2011	French	PDF
Abridged model	30/06/2010	18/12/2010	31/12/2010	French	PDF
Abridged model	30/06/2009	19/12/2009	27/12/2009	French	PDF
Abridged model	30/06/2008	20/12/2008	19/01/2009	French	PDF
Abridged model	30/06/2007	19/12/2007	21/01/2008	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 25 M€ and 50 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 30/06/2025 · 2 active · 2 ended

Active mandates

Michael FORIERS

Mandate

Active

Michel Foriers

Mandate

Active

Ended mandates

Michael FORIERS

Manager · since 10 octobre 2020

Ended

Michel Foriers

Manager · since 29 juin 1988

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates17/11/2023
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE - DEMISSIONS, NOMINATIONS
PDF
Mandates14/12/2020
DEMISSIONS, NOMINATIONS
PDF
Registered office14/05/2018
SIEGE SOCIAL
PDF
Capital / shares25/06/2014
CAPITAL, ACTIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
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 20251,2 M €↑
2024
Annual accounts 2024843,7 k €↓
2023
Annual accounts 2023861,6 k €↑
2022
Annual accounts 2022258,1 k €↑
2021
Annual accounts 2021-101,3 k €↓
2020
Annual accounts 2020276,6 k €↑
2019
Annual accounts 2019218,7 k €↑
2018
Annual accounts 2018111,3 k €↓
2017
Annual accounts 2017291,3 k €↑
2016
Annual accounts 2016252,8 k €↑
2015
Annual accounts 2015149,6 k €↓
2014
Annual accounts 2014166,2 k €↓
2013
Annual accounts 2013202,5 k €↑
2012
Annual accounts 201294,9 k €↑
2011
Annual accounts 201172,8 k €↓
2010
Annual accounts 2010131,3 k €↑
2009
Annual accounts 200989,6 k €↑
2008
Annual accounts 200853,6 k €↑
2007
Annual accounts 20075,7 k €
02/06/1988
IncorporationPrivate 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

MF CONSULT

Overview

What does MF CONSULT 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