ACTIVE

MNF-Tech

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Financial year 2025 · closed on 31/12/2025
Net result
2,4 M €
+81.6% YoY
Revenue
22,2 M €
+12.2% YoY
Equity
3,7 M €
+32.2% YoY
Workforce
110,9 ETP
+13.6% YoY

What does MNF-Tech do?

MNF-Tech is a Private limited company incorporated in 2010. Its main activity is: Construction of utility projects for fluids. Its registered office is in Lokeren. It employs on average 110,9 ETP workers (FTE).

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0826.704.274
Incorporation
16/06/2010
Legal form
Private limited company
Registered office
Metaalbewerkersstraat 5
9160 Lokeren · FlandreSee on map
Contributed capital
18 600,00 €
Latest accounts
31/12/2025
Average workforce
110,9 ETP
Activities (NACE)
42211Construction of utility projects for fluids· main42211Construction of utility projects for fluids43120Site preparation43120Site preparation42212Construction of utility projects for fluids42212Construction of utility projects for fluids+4
Joint committees (5)
  • 100
  • 124
  • 1240
  • 200
  • 2000
Signals
ProfitableSolid equityLow riskPositive cashflowPositive EBITDAHealthy social debtsHigh revenue
View the BCE/KBO Public Search record →
Health score
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✦ Verdict · Analyst summary
Financials

Trend over 15 financial years

202520242023202220212020201920182017201620152014201320122011
Income statement
Revenue22,2 M €19,8 M €–––––––––––287,7 k €299,4 k €
EBITDA4,8 M €3,1 M €2,6 M €2,8 M €2,2 M €1,3 M €830,6 k €602,4 k €311,7 k €215,7 k €202,2 k €146,2 k €28,7 k €19 k €52 k €
Operating result3,5 M €2 M €1,8 M €2,1 M €1,6 M €976,3 k €513,2 k €325,1 k €132,9 k €65,8 k €103,8 k €75,9 k €20,6 k €17,2 k €48,3 k €
Net result2,4 M €1,3 M €1,2 M €1,5 M €1,3 M €705,9 k €371 k €189,1 k €104,9 k €35 k €65,4 k €46,4 k €11,9 k €11,8 k €27,7 k €
Balance sheet
Equity3,7 M €2,8 M €4,7 M €3,5 M €2,4 M €1,2 M €661,7 k €440,7 k €321,6 k €216,7 k €181,7 k €116,4 k €70 k €58,1 k €46,3 k €
Total assets12 M €9,5 M €8,6 M €6,9 M €4,5 M €3,4 M €2,5 M €1,9 M €1,5 M €1,1 M €669,9 k €461,6 k €119,1 k €78,2 k €84 k €
Cash978,9 k €1,1 M €1,8 M €726,9 k €487,1 k €526,5 k €556,2 k €558,1 k €178,6 k €7,5 k €189,6 k €153,1 k €24,4 k €30,1 k €30,6 k €
Debts7,9 M €6,5 M €3,9 M €3,4 M €2 M €2,3 M €1,8 M €1,4 M €1,1 M €904,8 k €443,7 k €345,3 k €49,1 k €20,1 k €37,7 k €
Other
Workforce110,9 ETP97,6 ETP69,3 ETP62,3 ETP63,5 ETP50,6 ETP46,6 ETP36,0 ETP22,3 ETP14,2 ETP11,0 ETP9,4 ETP5,6 ETP2,0 ETP–
Estimate

Indicative valuation

As an indication, this company is worth

between 10 M€ and 25 M€
See the valuation
Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 3 ended

Active mandates

ARSA

Director · since 28 mars 2024 · 0861.805.804

Represented by Selami TOP

Active

Ended mandates

ARSA

Director · since 28 mars 2024 · 0861.805.804

Represented by Selami TOP

Ended
Fathi Kandemir

Director · until 28 mars 2024

Ended
Fatih Kandemir

Manager

Ended
Annual accounts

Full financial information

202520242023202220212020
Type of accountFull modelFull 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 date16/07/202618/07/202512/07/202406/07/202323/06/202210/02/2021
General meeting19/06/202620/06/202521/06/202431/05/202317/06/202209/02/2021
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

15 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Full model31/12/202519/06/202616/07/2026DutchPDF
Full model31/12/202420/06/202518/07/2025DutchPDF
Abridged model31/12/202321/06/202412/07/2024DutchPDF
Abridged model31/12/202231/05/202306/07/2023DutchPDF
Abridged model31/12/202117/06/202223/06/2022DutchPDF
Abridged model31/12/202009/02/202110/02/2021DutchPDF
Abridged model31/12/201919/06/202029/07/2020DutchPDF
Abridged model31/12/201821/06/201924/06/2019DutchPDF
Abridged model31/12/201715/06/201803/07/2018DutchPDF
Abridged model31/12/201616/06/201727/06/2017DutchPDF
Abridged model31/12/201515/02/201623/02/2016DutchPDF
Abridged model31/12/201419/06/201515/07/2015DutchPDF
Abridged model31/12/201320/06/201425/06/2014DutchPDF
Abridged model31/12/201221/06/201307/07/2013DutchPDF
Abridged model31/12/201115/06/201229/06/2012DutchPDF
Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 10 M€ and 25 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 · 3 ended

Active mandates

ARSA

Director · since 28 mars 2024 · 0861.805.804

Represented by Selami TOP

Active

Ended mandates

ARSA

Director · since 28 mars 2024 · 0861.805.804

Represented by Selami TOP

Ended
Fathi Kandemir

Director · until 28 mars 2024

Ended
Fatih Kandemir

Manager

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Mandates25/04/2024
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Registered office04/11/2022
    MAATSCHAPPELIJKE ZETEL
    PDF
  • Mandates01/04/2022
    STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …) - WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN
    PDF
  • Capital / shares08/06/2018
    KAPITAAL - AANDELEN
    PDF
  • Capital / shares18/01/2017
    KAPITAAL - AANDELEN
    PDF
  • Registered office04/12/2012
    MAATSCHAPPELIJKE ZETEL
    PDF
  • Registered office14/11/2011
    MAATSCHAPPELIJKE ZETEL
    PDF
  • Other18/06/2010
    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 20252,4 M €↑
  2. 2024
    Annual accounts 20241,3 M €↑
  3. 2023
    Annual accounts 20231,2 M €↓
  4. 2022
    Annual accounts 20221,5 M €↑
  5. 2021
    Annual accounts 20211,3 M €↑
  6. 2020
    Annual accounts 2020705,9 k €↑
  7. 2019
    Annual accounts 2019371 k €↑
  8. 2018
    Annual accounts 2018189,1 k €↑
  9. 2017
    Annual accounts 2017104,9 k €↑
  10. 2016
    Annual accounts 201635 k €↓
  11. 2015
    Annual accounts 201565,4 k €↑
  12. 2014
    Annual accounts 201446,4 k €↑
  13. 2013
    Annual accounts 201311,9 k €↑
  14. 2012
    Annual accounts 201211,8 k €↓
  15. 2011
    Annual accounts 201127,7 k €
  16. 16/06/2010
    IncorporationPrivate limited company