ACTIVE

MTBE

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Financial year 2025 · closed on 31/12/2025

Net result

35,5 k €

-33.8% YoY

Gross margin

376,9 k €

-3.4% YoY

Equity

197,3 k €

+427.6% YoY

Workforce

4,6 ETP

-4.2% YoY

What does MTBE do?

MTBE is a Public limited company incorporated in 2010. Its main activity is: Engineering activities and related technical consultancy. Its registered office is in Seraing. It employs on average 4,6 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0831.935.049

Incorporation

16/12/2010

Legal form

Public limited company

Registered office

Rue Guillaume d'Orange 111
4100 Seraing · WallonieSee on map

Contributed capital

322 014,00 €

Latest accounts

31/12/2025

Average workforce

4,6 ETP

Activities (NACE)

71121Engineering activities and related technical consultancy· main 71121Engineering activities and related technical consultancy

Joint committees (3)

Signals

ProfitableGood liquidityPositive cashflowPositive EBITDA

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✦ Verdict · Analyst summary

Financials

Trend over 15 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011
Income statement
Gross margin	376,9 k €	-3.4%	390,3 k €	+45.0%	269,2 k €	-49.8%	536,2 k €	+12.4%	477 k €	+46.7%	325,1 k €	-4.6%	340,9 k €	+4.8%	325,2 k €	-30.2%	465,6 k €	+11.6%	417,3 k €	+59.1%	262,3 k €	+24.8%	210,1 k €	+76.4%	119,1 k €	+130%	51,8 k €	+2084%	2,4 k €
EBITDA	61,2 k €	-37.0%	97,1 k €	+204%	-93,7 k €	-261%	58,3 k €	+14.2%	51,1 k €	+29.6%	39,4 k €	-13.8%	45,7 k €	+680%	-7,9 k €	-110%	75,6 k €	-1.3%	76,6 k €	+236%	22,8 k €	+67.1%	13,6 k €	+17.2%	11,6 k €	+15.9%	10 k €	+853%	-1,3 k €
Operating result	71 k €	+12.3%	63,3 k €	+141%	-156,2 k €	-1328%	-10,9 k €	-128%	39,7 k €	+31.0%	30,3 k €	-17.2%	36,6 k €	+229%	-28,4 k €	-169%	41,3 k €	-3.5%	42,8 k €	+605%	6,1 k €	+14.6%	5,3 k €	-18.3%	6,5 k €	-21.0%	8,2 k €	+359%	-3,2 k €
Net result	35,5 k €	-33.8%	53,7 k €	+129%	-186,4 k €	-659%	-24,6 k €	-245%	16,9 k €	+478%	2,9 k €	-86.4%	21,5 k €	+158%	-37,1 k €	-399%	12,4 k €	-45.2%	22,6 k €	+167%	-33,7 k €	-200%	-11,2 k €	-548%	2,5 k €	-65.7%	7,3 k €	+299%	-3,7 k €
Balance sheet
Equity	197,3 k €	+428%	-60,2 k €	+47.1%	-113,9 k €	-257%	72,5 k €	-25.3%	97 k €	+21.1%	80,1 k €	+3.8%	77,2 k €	+38.5%	55,7 k €	-40.0%	92,9 k €	+15.4%	80,5 k €	+39.2%	57,8 k €	-36.8%	91,5 k €	-10.9%	102,7 k €	+55.3%	66,1 k €	+12.4%	58,8 k €
Total assets	684,8 k €	-0.8%	690,4 k €	-7.4%	745,7 k €	-12.2%	849,3 k €	-27.3%	1,2 M €	+15.8%	1 M €	+16.6%	865,4 k €	-10.5%	966,3 k €	-54.1%	2,1 M €	-51.6%	4,3 M €	+94.6%	2,2 M €	+201%	741,5 k €	+139%	309,7 k €	+22.4%	253 k €	+2.2%	247,5 k €
Cash	58,5 k €	-10.3%	65,2 k €	+730%	7,9 k €	-89.2%	72,9 k €	+27.9%	56,9 k €	-28.9%	80,1 k €	+117%	37 k €	-46.7%	69,3 k €	-61.4%	179,7 k €	-25.2%	240,2 k €	+30.0%	184,7 k €	+121%	83,5 k €	+47.1%	56,8 k €	-56.7%	131,2 k €	+306%	32,3 k €
Debts	479,8 k €	-34.1%	728 k €	-12.9%	835,5 k €	+9.6%	762,4 k €	-28.1%	1,1 M €	+15.0%	922,6 k €	+18.6%	777,6 k €	-8.6%	850,7 k €	-55.9%	1,9 M €	-54.4%	4,2 M €	+94.3%	2,2 M €	+236%	648,5 k €	+213%	206,9 k €	+10.8%	186,8 k €	+75.2%	106,7 k €
Other
Workforce	4,6 ETP	-4.2%	4,8 ETP	-20.0%	6,0 ETP	-23.1%	7,8 ETP	+6.8%	7,3 ETP	+25.9%	5,8 ETP	-3.3%	6,0 ETP	0.0%	6,0 ETP	-6.3%	6,4 ETP	+23.1%	5,2 ETP	-1.9%	5,3 ETP	+32.5%	4,0 ETP	+42.9%	2,8 ETP	+133%	1,2 ETP	+500%	0,2 ETP

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 · 1 active · 22 ended

Active mandates

ONEIRA INVEST

Managing director · since 19 juillet 2023 · until 11 juin 2029 · 0836.501.670

Represented by Stéphane VERRAES

Active

Ended mandates

Christophe Burton

Director · since 10 juin 2019 · until 24 janvier 2023

Ended

Christophe Burton

Director · since 10 juin 2019 · until 08 juillet 2025

Ended

Christophe Burton

Director · since 10 juin 2019

Ended

NOVANDO INVEST

Director · since 11 août 2018 · until 11 août 2024 · 0479.563.941

Represented by Alain LESAGE

Ended

At this address

Other companies at this address

Company	CBE no.
IMMORANGE● Active	0676.843.630

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	22/07/2026	19/08/2025	30/08/2024	25/08/2023	29/08/2022	06/08/2021
General meeting	08/06/2026	10/06/2025	19/08/2024	19/07/2023	25/08/2022	07/07/2021
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

15 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	08/06/2026	22/07/2026	French	PDF
Abridged model	31/12/2024	10/06/2025	19/08/2025	French	PDF
Abridged model	31/12/2023	19/08/2024	30/08/2024	French	PDF
Abridged model	31/12/2022	19/07/2023	25/08/2023	French	PDF
Abridged model	31/12/2021	25/08/2022	29/08/2022	French	PDF
Abridged model	31/12/2020	07/07/2021	06/08/2021	French	PDF
Abridged model	31/12/2019	23/06/2020	28/07/2020	French	PDF
Abridged model	31/12/2018	10/06/2019	27/08/2019	French	PDF
Abridged model	31/12/2017	11/06/2018	31/08/2018	French	PDF
Abridged model	31/12/2016	12/06/2017	26/06/2017	French	PDF
Abridged model	31/12/2015	04/07/2016	05/08/2016	French	PDF
Abridged model	31/12/2014	08/06/2015	24/07/2015	French	PDF
Abridged model	31/12/2013	16/06/2014	26/06/2014	French	PDF
Abridged model	31/12/2012	10/06/2013	28/06/2013	French	PDF
Abridged model	31/12/2011	11/06/2012	29/06/2012	French	PDF

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 · 1 active · 22 ended

Active mandates

ONEIRA INVEST

Managing director · since 19 juillet 2023 · until 11 juin 2029 · 0836.501.670

Represented by Stéphane VERRAES

Active

Ended mandates

Christophe Burton

Director · since 10 juin 2019 · until 24 janvier 2023

Ended

Christophe Burton

Director · since 10 juin 2019 · until 08 juillet 2025

Ended

Christophe Burton

Director · since 10 juin 2019

Ended

NOVANDO INVEST

Director · since 11 août 2018 · until 11 août 2024 · 0479.563.941

Represented by Alain LESAGE

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates12/03/2025
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - DIVERS - CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS
PDF
Mandates03/10/2023
DEMISSIONS, NOMINATIONS
PDF
Registered office31/07/2020
SIEGE SOCIAL
PDF
Mandates22/10/2019
DEMISSIONS, NOMINATIONS
PDF
Mandates21/09/2018
DEMISSIONS, NOMINATIONS
PDF
Mandates20/07/2018
DEMISSIONS, NOMINATIONS
PDF
Mandates27/07/2017
DEMISSIONS, NOMINATIONS
PDF
Capital / shares12/09/2013
CAPITAL, ACTIONS
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 202535,5 k €↓
2024
Annual accounts 202453,7 k €↑
2023
Annual accounts 2023-186,4 k €↓
2022
Annual accounts 2022-24,6 k €↓
2021
Annual accounts 202116,9 k €↑
2020
Annual accounts 20202,9 k €↓
2019
Annual accounts 201921,5 k €↑
2018
Annual accounts 2018-37,1 k €↓
2017
Annual accounts 201712,4 k €↓
2016
Annual accounts 201622,6 k €↑
2015
Annual accounts 2015-33,7 k €↓
2014
Annual accounts 2014-11,2 k €↓
2013
Annual accounts 20132,5 k €↓
2012
Annual accounts 20127,3 k €↑
2011
Annual accounts 2011-3,7 k €
16/12/2010
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

MTBE

Overview

What does MTBE do?

Trend over 15 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