ACTIVE

Pinus Mugo

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Financial year 2025 · closed on 31/12/2025
Net result
1,1 M €
+163.4% YoY
Revenue
5,4 M €
Equity
42,2 M €
+3105.8% YoY

What does Pinus Mugo do?

Pinus Mugo is a Public limited company incorporated in 2016. Its main activity is: Rental and operating of own or leased real estate. Its registered office is in Bruxelles.

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0664.615.096
Incorporation
13/10/2016
Legal form
Public limited company
Registered office
Avenue Marnix 23
1000 Bruxelles · BruxellesSee on map
Contributed capital
43 815 412,00 €
Latest accounts
31/12/2025
Activities (NACE)
68203Rental and operating of own or leased real estate· main
Signals
ProfitableSolid equityGood liquidityPositive cashflowPositive EBITDAHigh revenue
View the BCE/KBO Public Search record →
Health score
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Recommended credit limit
✦ Verdict · Analyst summary
Financials

Trend over 9 financial years

202520242023202220212020201920182017
Income statement
Revenue5,4 M €––––––––
EBITDA5,2 M €4,2 M €1,6 M €140,7 k €64,4 k €-4,8 k €-3,9 k €-1,4 k €-3,5 k €
Operating result2,9 M €2,2 M €870 k €-28,7 k €64,4 k €-4,8 k €-3,9 k €-1,4 k €-3,5 k €
Net result1,1 M €-1,8 M €-530,2 k €-322,7 k €-89,8 k €-2,7 k €-2,1 k €450,9 €-3,2 k €
Balance sheet
Equity42,2 M €1,3 M €-888,9 k €-358,6 k €-35,9 k €53,9 k €56,7 k €58,7 k €58,3 k €
Total assets84,1 M €85,9 M €73,4 M €31,7 M €28,9 M €53,9 k €59,2 k €58,7 k €58,3 k €
Cash2,7 M €3,4 M €1,3 M €236,7 k €154 k €2,6 k €5 k €6,5 k €8 k €
Debts40,4 M €83,1 M €72,8 M €32 M €28,9 M €–2,5 k €––
Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€
See the valuation
Governance

Board of directors

Seen on filing of 31/12/2025 · 7 active · 19 ended

Active mandates

Christophe Eric Peter TANS

Director · since 24 mars 2025 · until 14 juin 2030

Active
Irene Gabriela FLORESCU

Director · since 24 mars 2025 · until 14 juin 2030

Active
Jacques Andre SCHULTE

Director · since 24 mars 2025 · until 14 juin 2030

Active
MG RE Investment

Managing director · since 01 janvier 2024 · until 24 mars 2025 · 1003.164.892

Represented by Ignace De Paepe

Active
MEA VOTA ONE

Director · since 10 juin 2022 · until 24 mars 2025 · 0562.896.146

Represented by Anja Tackaert

Active
PRODIT

Director · since 10 juin 2022 · until 24 mars 2025 · 0500.655.404

Represented by Ignace Tytgat

Active
SCS

Director · since 10 juin 2022 · until 24 mars 2025 · 0808.803.717

Represented by Stacey Smits

Active

Ended mandates

MG RE Investment

Managing director · since 01 janvier 2024 · until 09 juin 2028 · 1003.164.892

Represented by Ignace De Paepe

Ended
MG RE Investment

Managing director · since 01 janvier 2024 · until 09 juin 2028 · 1003.164.892

Represented by Ignace De Paepe

Ended
MEA VOTA ONE

Director · since 10 juin 2022 · until 09 juin 2028 · 0562.896.146

Represented by Anja Tackaert

Ended
MG INVESTMENT

Managing director · since 10 juin 2022 · until 09 juin 2028 · 0540.841.316

Represented by Ignace De Paepe

Ended
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Annual accounts

Full financial information

202520242023202220212020
Type of accountFull 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 date03/06/202612/03/202520/11/202419/06/202329/06/202207/07/2021
General meeting28/05/202607/03/202514/06/202409/06/202317/06/202211/06/2021
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

10 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Full model31/12/202528/05/202603/06/2026DutchPDF
Abridged model31/12/202407/03/202512/03/2025DutchPDF
Abridged modelCorrection31/12/202314/06/202420/11/2024DutchPDF
Abridged model31/12/202314/06/202412/08/2024DutchPDF
Abridged model31/12/202209/06/202319/06/2023DutchPDF
Abridged model31/12/202117/06/202229/06/2022DutchPDF
Abridged model31/12/202011/06/202107/07/2021DutchPDF
Abridged model31/12/201912/06/202002/07/2020DutchPDF
Abridged model31/12/201814/06/201902/07/2019DutchPDF
Abridged model31/12/201708/06/201828/06/2018DutchPDF
Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 k€

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 · 7 active · 19 ended

Active mandates

Christophe Eric Peter TANS

Director · since 24 mars 2025 · until 14 juin 2030

Active
Irene Gabriela FLORESCU

Director · since 24 mars 2025 · until 14 juin 2030

Active
Jacques Andre SCHULTE

Director · since 24 mars 2025 · until 14 juin 2030

Active
MG RE Investment

Managing director · since 01 janvier 2024 · until 24 mars 2025 · 1003.164.892

Represented by Ignace De Paepe

Active
MEA VOTA ONE

Director · since 10 juin 2022 · until 24 mars 2025 · 0562.896.146

Represented by Anja Tackaert

Active
PRODIT

Director · since 10 juin 2022 · until 24 mars 2025 · 0500.655.404

Represented by Ignace Tytgat

Active
SCS

Director · since 10 juin 2022 · until 24 mars 2025 · 0808.803.717

Represented by Stacey Smits

Active

Ended mandates

MG RE Investment

Managing director · since 01 janvier 2024 · until 09 juin 2028 · 1003.164.892

Represented by Ignace De Paepe

Ended
MG RE Investment

Managing director · since 01 janvier 2024 · until 09 juin 2028 · 1003.164.892

Represented by Ignace De Paepe

Ended
MEA VOTA ONE

Director · since 10 juin 2022 · until 09 juin 2028 · 0562.896.146

Represented by Anja Tackaert

Ended
MG INVESTMENT

Managing director · since 10 juin 2022 · until 09 juin 2028 · 0540.841.316

Represented by Ignace De Paepe

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Mandates27/03/2025
    STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …) - MAATSCHAPPELIJKE ZETEL - DOEL - KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN
    PDF
  • Other13/03/2025
    DIVERSEN
    PDF
  • Mandates10/01/2025
    STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …) - KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates27/02/2023
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates23/07/2019
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates23/08/2018
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates11/01/2017
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Other17/10/2016
    RUBRIEK OPRICHTING (NIEUWE RECHTSPERSOON, OPENING BIJKANTOOR, ENZ...)
    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 20251,1 M €↑
  2. 24/03/2025
    nominationIrene Gabriela FLORESCU — bestuurder
  3. 24/03/2025
    nominationJacques Andre SCHULTE — bestuurder
  4. 24/03/2025
    nominationChristophe Eric Peter TANS — bestuurder
  5. 24/03/2025
    nominationBE AUDIT — commissaris
  6. 24/03/2025
    augmentation_capital
  7. 2024
    Annual accounts 2024-1,8 M €↓
  8. 18/12/2024
    nominationMG RE Investment — bestuurder
  9. 18/12/2024
    nominationChristophe Boschmans — vaste vertegenwoordiger van de commissaris
  10. 18/12/2024
    augmentation_capital
  11. 2023
    Annual accounts 2023-530,2 k €↓
  12. 2022
    Annual accounts 2022-322,7 k €↓
  13. 17/06/2022
    nominationMea Vota One BV — bestuurder
  14. 2021
    Annual accounts 2021-89,8 k €↓
  15. 2020
    Annual accounts 2020-2,7 k €↓
  16. 2019
    Annual accounts 2019-2,1 k €↓
  17. 2018
    Annual accounts 2018450,9 €↑
  18. 2017
    Annual accounts 2017-3,2 k €
  19. 13/10/2016
    IncorporationPublic limited company