ACTIVE

M2M

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Financial year 2025 · closed on 31/12/2025

Net result

295,9 k €

+32.8% YoY

Gross margin

443,6 k €

+38.2% YoY

Equity

4,1 M €

+7.7% YoY

Workforce

0,0 ETP

What does M2M do?

M2M is a Public limited company incorporated in 1999. Its main activity is: Management consultancy activities. Its registered office is in Antwerpen.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0469.230.669

Incorporation

31/12/1999

Legal form

Public limited company

Registered office

Zuidervelodroom 104 box 301
2018 Antwerpen · FlandreSee on map

Contributed capital

2 384 000,00 €

Latest accounts

31/12/2025

Average workforce

0,0 ETP

Activities (NACE)

70200Management consultancy activities· main 70220Business and other management consultancy activities 74142Specialised design activities 47690Retail sale of cultural and recreation goods in specialised stores 47787Other retail sale of new goods in specialised stores 64200Activities of holding companies+8

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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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	443,6 k €	+38.2%	321 k €	+8.2%	296,6 k €	-36.1%	464,1 k €	+56.6%	296,4 k €	+5.2%	281,9 k €	+85.1%	152,3 k €	+14.9%	132,5 k €	-56.7%	305,9 k €	+21.9%	250,9 k €	-5.9%	266,7 k €	+27.9%	208,5 k €	+80.6%	115,5 k €	+19.6%	96,6 k €	-43.1%	169,8 k €	+26.8%	133,9 k €	+9.7%	122,1 k €	-26.8%	166,8 k €	+54.4%	108 k €	-8.4%	117,9 k €
EBITDA	437,7 k €	+42.0%	308,3 k €	+11.3%	277 k €	-34.1%	420,4 k €	+49.3%	281,6 k €	+5.3%	267,3 k €	+117%	123,2 k €	+5.5%	116,8 k €	-60.0%	291,7 k €	+21.4%	240,3 k €	-6.2%	256,2 k €	+31.1%	195,5 k €	+85.0%	105,7 k €	+21.0%	87,3 k €	-46.0%	161,8 k €	+24.3%	130,1 k €	+10.2%	118 k €	-26.4%	160,4 k €	+57.6%	101,8 k €	-12.2%	116 k €
Operating result	383,9 k €	+50.5%	255,2 k €	+17.6%	217 k €	-44.1%	387,9 k €	+52.4%	254,6 k €	+7.0%	238 k €	+247%	68,7 k €	-4.8%	72,1 k €	-70.5%	244,8 k €	+49.4%	163,8 k €	-6.3%	174,8 k €	+25.3%	139,6 k €	+126%	61,8 k €	+77.4%	34,8 k €	-68.8%	111,8 k €	+25.7%	89 k €	+14.2%	77,9 k €	-38.5%	126,6 k €	+67.7%	75,5 k €	-15.4%	89,3 k €
Net result	295,9 k €	+32.8%	222,8 k €	+35.6%	164,3 k €	-38.3%	266,3 k €	+53.9%	173 k €	+18.2%	146,4 k €	+410%	28,7 k €	-3.2%	29,7 k €	-76.6%	126,8 k €	+58.4%	80,1 k €	-4.7%	84 k €	+11.7%	75,2 k €	+83.8%	40,9 k €	+170%	15,2 k €	-99.1%	1,6 M €	+703%	199,6 k €	+261%	55,3 k €	-40.5%	92,9 k €	+64.4%	56,5 k €	-14.1%	65,8 k €
Balance sheet
Equity	4,1 M €	+7.7%	3,8 M €	+6.2%	3,6 M €	+4.8%	3,5 M €	+8.3%	3,2 M €	+5.7%	3 M €	+5.1%	2,9 M €	+1.0%	2,8 M €	+1.1%	2,8 M €	+4.7%	2,7 M €	+3.1%	2,6 M €	+3.3%	2,5 M €	+3.1%	2,4 M €	-8.1%	2,7 M €	+0.6%	2,6 M €	+152%	1,1 M €	+23.4%	852,3 k €	+6.9%	797 k €	+13.2%	704,1 k €	+8.7%	647,5 k €
Total assets	4,3 M €	+5.4%	4,1 M €	+3.2%	3,9 M €	-1.8%	4 M €	+6.7%	3,8 M €	+0.3%	3,8 M €	+3.6%	3,6 M €	-1.1%	3,7 M €	-1.4%	3,7 M €	+3.4%	3,6 M €	-0.4%	3,6 M €	+1.6%	3,5 M €	+3.2%	3,4 M €	-7.1%	3,7 M €	-12.4%	4,2 M €	+271%	1,1 M €	+29.5%	878 k €	+4.6%	839,2 k €	+15.5%	726,9 k €	+10.3%	659,1 k €
Cash	587,1 k €	-42.3%	1 M €	+577%	150,2 k €	-35.1%	231,5 k €	-74.4%	903,7 k €	-2.9%	930,9 k €	+13.2%	822,5 k €	-15.1%	969,1 k €	+13.3%	855,2 k €	+174%	312,3 k €	+29.3%	241,5 k €	-2.3%	247,2 k €	+319%	59 k €	-83.7%	361 k €	-58.4%	868,5 k €	+2620%	31,9 k €	+500%	5,3 k €	-83.8%	32,9 k €	-90.3%	339,2 k €	+39.3%	243,5 k €
Debts	143,3 k €	-35.6%	222,6 k €	-30.0%	318,1 k €	-42.8%	555,7 k €	+0.6%	552,6 k €	-21.2%	700,8 k €	-1.5%	711,8 k €	-8.6%	778,5 k €	-7.1%	837,6 k €	-1.9%	853,6 k €	-9.6%	944 k €	-2.4%	966,9 k €	+5.2%	919 k €	-5.3%	970,3 k €	-38.2%	1,6 M €	+1767%	84,1 k €	+243%	24,6 k €	-39.2%	40,4 k €	+77.0%	22,8 k €	+96.0%	11,6 k €
Other
Workforce	0,0 ETP		0,0 ETP		–		0,0 ETP		–		–		0,2 ETP	-33.3%	0,3 ETP		–		–		–		–		–		–		–		–		–		–		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€

See the valuation

Governance

Board of directors

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

Active mandates

Lev Maesen

Director · since 20 mars 2026

Active

Mark Maesen

Managing director · since 30 juin 2011

Active

Ended mandates

N. Kotowa

Director · since 30 juin 2017 · until 30 juin 2023

Ended

M. Maesen

Managing director · since 03 juin 2011 · until 30 juin 2023

Ended

Mark Maesen

Managing director · since 03 juin 2011 · until 02 juin 2017

Ended

Mark Maesen

Managing director · since 03 juin 2011 · until 03 juin 2017

Ended

At this address

Other companies at this address

Company	CBE no.
CONDOCO● Active	0460.301.523
Pantovel● Active	0727.478.422

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	27/07/2026	31/07/2025	21/08/2024	21/08/2023	11/08/2022	03/08/2021
General meeting	10/07/2026	30/06/2025	07/06/2024	02/06/2023	30/06/2022	30/06/2021
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	10/07/2026	27/07/2026	Dutch	PDF
Abridged model	31/12/2024	30/06/2025	31/07/2025	Dutch	PDF
Abridged model	31/12/2023	07/06/2024	21/08/2024	Dutch	PDF
Abridged model	31/12/2022	02/06/2023	21/08/2023	Dutch	PDF
Abridged model	31/12/2021	30/06/2022	11/08/2022	Dutch	PDF
Abridged model	31/12/2020	30/06/2021	03/08/2021	Dutch	PDF
Abridged model	31/12/2019	31/08/2020	18/09/2020	Dutch	PDF
Abridged model	31/12/2018	30/06/2019	27/08/2019	Dutch	PDF
Abridged model	31/12/2017	30/06/2018	28/09/2018	Dutch	PDF
Abridged model	31/12/2016	30/06/2017	30/08/2017	Dutch	PDF
Abridged model	31/12/2015	03/06/2016	07/06/2016	Dutch	PDF
Abridged model	31/12/2014	05/06/2015	27/07/2015	Dutch	PDF
Abridged model	31/12/2013	06/06/2014	30/06/2014	Dutch	PDF
Abridged model	31/12/2012	07/06/2013	20/06/2013	Dutch	PDF
Abridged model	31/12/2011	01/06/2012	23/08/2012	Dutch	PDF
Abridged model	31/12/2010	03/06/2011	16/06/2011	Dutch	PDF
Abridged model	31/12/2009	04/06/2010	17/06/2010	Dutch	PDF
Abridged model	31/12/2008	05/06/2009	16/06/2009	Dutch	PDF
Abridged model	31/12/2007	06/06/2008	10/06/2008	Dutch	PDF
Abridged model	31/12/2006	01/06/2007	10/07/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 2,5 M€ and 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 · 12 ended

Active mandates

Lev Maesen

Director · since 20 mars 2026

Active

Mark Maesen

Managing director · since 30 juin 2011

Active

Ended mandates

N. Kotowa

Director · since 30 juin 2017 · until 30 juin 2023

Ended

M. Maesen

Managing director · since 03 juin 2011 · until 30 juin 2023

Ended

Mark Maesen

Managing director · since 03 juin 2011 · until 02 juin 2017

Ended

Mark Maesen

Managing director · since 03 juin 2011 · until 03 juin 2017

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Registered office15/09/2026
ZETEL
PDF
Mandates05/05/2026
ONTSLAGEN - BENOEMINGEN
PDF
Other09/12/2022
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates20/09/2017
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares13/11/2013
KAPITAAL - AANDELEN
PDF
Registered office21/12/2012
MAATSCHAPPELIJKE ZETEL
PDF
Other05/01/2012
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates08/09/2011
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 2025295,9 k €↑
2024
Annual accounts 2024222,8 k €↑
2023
Annual accounts 2023164,3 k €↓
2022
Annual accounts 2022266,3 k €↑
2021
Annual accounts 2021173 k €↑
2020
Annual accounts 2020146,4 k €↑
2019
Annual accounts 201928,7 k €↓
2018
Annual accounts 201829,7 k €↓
2017
Annual accounts 2017126,8 k €↑
2016
Annual accounts 201680,1 k €↓
2015
Annual accounts 201584 k €↑
2014
Annual accounts 201475,2 k €↑
2013
Annual accounts 201340,9 k €↑
2012
Annual accounts 201215,2 k €↓
2011
Annual accounts 20111,6 M €↑
2010
Annual accounts 2010199,6 k €↑
2009
Annual accounts 200955,3 k €↓
2008
Annual accounts 200892,9 k €↑
2007
Annual accounts 200756,5 k €↓
2006
Annual accounts 200665,8 k €
31/12/1999
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

M2M

Overview

What does M2M 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