ACTIVE

MG Real Estate

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Financial year 2025 · Closed on 31/12/2025

Net result16,7 M €+850,7 %over 1 year

Revenue13,7 M €-20,1 %over 1 year

Equity165,4 M €-2,0 %over 1 year

Workforce14,0 ETP-11,9 %over 1 year

Identity

Source · BCE/KBO

MG Real Estate is a Public limited company incorporated in 2003. Its main activity is: Development of building projects. Its registered office is in Gent. It employs on average 14,0 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0861.589.434
Incorporation: 12/11/2003
Legal form: Public limited company
Registered office: Esplanade Oscar Van de Voorde 1
9000 Gent · FlandreSee on map
Contributed capital: 93 667 220,31 €
Latest accounts: 31/12/2025
Average workforce: 14,0 ETP

Activities (NACE)

41102Development of building projects· main 64200Activities of holding companies 64210Activities of holding companies 68122Buying and selling of own real estate 70200Management consultancy activities 70220Business and other management consultancy activities

Joint committees (5)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowHealthy social debtsHigh revenue

Financials

Source · NBB, 22 filings

Trend over 19 financial years

	2025		2024		2023		2022		2021
Income statement
Revenue	13,7 M €	-20.1%	17,1 M €	-10.9%	19,2 M €	+4.5%	18,4 M €	+43.7%	12,8 M €
EBITDA	-8,7 M €	-272%	-2,3 M €	+56.6%	-5,4 M €	-192%	5,8 M €	+250%	1,7 M €
Operating result	-9,3 M €	-224%	-2,9 M €	+51.6%	-5,9 M €	-208%	5,4 M €	+296%	1,4 M €
Net result	16,7 M €	+851%	1,8 M €	-77.9%	7,9 M €	-60.0%	19,8 M €	-20.8%	25 M €
Balance sheet
Equity	165,4 M €	-2.0%	168,7 M €	+1.1%	166,9 M €	+5.0%	159 M €	+14.2%	139,2 M €
Total assets	378,2 M €	+22.5%	308,8 M €	+21.8%	253,5 M €	+13.4%	223,5 M €	+16.6%	191,7 M €
Cash	7,7 M €	+106%	3,7 M €	-38.1%	6 M €	+0.7%	6 M €	+109%	2,9 M €
Debts	212,8 M €	+51.8%	140,2 M €	+69.5%	82,7 M €	+28.2%	64,5 M €	+23.0%	52,5 M €
Other
Workforce	14,0 ETP	-11.9%	15,9 ETP	-4.2%	16,6 ETP	-7.3%	17,9 ETP	+37.7%	13,0 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 100 M€ and 250 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

5 active · 10 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
MG RE Investment1003.164.892Represented by Ignace De Paepe	Managing director01/01/2024 → 09/06/2028
Ayers Invest0807.932.103Represented by Karel Gielen	Director01/12/2007 → 09/06/2028
MEA VOTA ONE0562.896.146Represented by Anja Tackaert	Director10/06/2022 → 09/06/2028
PRODIT0500.655.404Represented by Ignace Tytgat	Director04/07/2018 → 09/06/2028
SCS0808.803.717Represented by Stacey Smits	Director21/05/2014 → 09/06/2028

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
MG INVESTMENT0540.841.316Represented by Ignace De Paepe	Managing director01/06/2022 → 2022 accounts
Anja Tackaert	Director10/06/2016 → 2021 accounts
Kanma BVBA0465.750.547Represented by Karel Gielen	Director10/06/2016 → 30/11/2017

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Full financial information

Source · NBB

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full 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	16/06/2026	12/08/2025	12/08/2024	19/06/2023	30/06/2022	07/07/2021
General meeting	12/06/2026	13/06/2025	14/06/2024	09/06/2023	17/06/2022	11/06/2021
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

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 22 filings

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	12/06/2026	16/06/2026	Dutch	PDF
Full model	31/12/2024	13/06/2025	12/08/2025	Dutch	PDF
Full model	31/12/2023	14/06/2024	12/08/2024	Dutch	PDF
Full model	31/12/2022	09/06/2023	19/06/2023	Dutch	PDF
Full model	31/12/2021	17/06/2022	30/06/2022	Dutch	PDF
Abridged model	31/12/2020	11/06/2021	07/07/2021	Dutch	PDF
Abridged model	31/12/2019	25/06/2020	02/07/2020	Dutch	PDF
Abridged model	31/12/2018	14/06/2019	03/07/2019	Dutch	PDF
Full model	31/12/2017	08/06/2018	28/06/2018	Dutch	PDF
Full model	31/12/2016	09/06/2017	26/06/2017	Dutch	PDF
Abridged model	31/12/2015	10/06/2016	29/07/2016	Dutch	PDF
Abridged model	30/09/2014	13/03/2015	31/03/2015	Dutch	PDF
Abridged model	30/09/2013	14/03/2014	30/04/2014	Dutch	PDF
Abridged model	30/09/2012	08/03/2013	30/04/2013	Dutch	PDF
Abridged model	30/09/2011	09/03/2012	28/04/2012	Dutch	PDF
Abridged model	30/09/2010	26/11/2010	30/04/2011	Dutch	PDF
Abridged model	30/09/2009	12/03/2010	30/04/2010	Dutch	PDF
Abridged model	30/09/2008	13/03/2009	29/04/2009	Dutch	PDF
Abridged model	30/09/2007	14/03/2008	28/03/2008	Dutch	PDF
Abridged modelCorrection	31/12/2005	09/06/2006	13/09/2006	Dutch	PDF
Abridged model	31/12/2005	09/06/2006	17/08/2006	Dutch	PDF
Abridged model	31/12/2004	10/06/2005	01/08/2005	Dutch	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 M€ and 250 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.

Board of directors

Source · NBB, accounts to 31/12/2025

5 active · 10 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
MG RE Investment1003.164.892Represented by Ignace De Paepe	Managing director01/01/2024 → 09/06/2028
Ayers Invest0807.932.103Represented by Karel Gielen	Director01/12/2007 → 09/06/2028
MEA VOTA ONE0562.896.146Represented by Anja Tackaert	Director10/06/2022 → 09/06/2028
PRODIT0500.655.404Represented by Ignace Tytgat	Director04/07/2018 → 09/06/2028
SCS0808.803.717Represented by Stacey Smits	Director21/05/2014 → 09/06/2028

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
MG INVESTMENT0540.841.316Represented by Ignace De Paepe	Managing director01/06/2022 → 2022 accounts
Anja Tackaert	Director10/06/2016 → 2021 accounts
Kanma BVBA0465.750.547Represented by Karel Gielen	Director10/06/2016 → 30/11/2017

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Mandates30/09/2026
ONTSLAGEN, BENOEMINGEN
PDF
Mandates11/08/2026
ONTSLAGEN, BENOEMINGEN
PDF
Other29/08/2025
DIVERSEN
PDF
Mandates13/03/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates24/02/2023
ONTSLAGEN - BENOEMINGEN
PDF
Restructuring01/09/2021
DOEL - KAPITAAL - AANDELEN - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring27/05/2021
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Mandates09/07/2020
ONTSLAGEN - BENOEMINGEN
PDF

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

Timeline

Source · CBE, NBB annual accounts

Year

Identity

Incorporation

Name

Registered office

Annual accounts

Filings19 filings

Mandates

MG RE Investment

PRODIT

MEA VOTA ONE

Ayers Invest

SCS

MG INVESTMENT

Kanma BVBA

Sirius Consult BVBA

VINCEMMA

Anja Tackaert

Glint

Glint BV

Show the 3 other mandates

20032004200520062007200820092010201120122013201420152016201720182019202020212022202320242025202620272028

MG Real Estate

Esplanade Oscar Van de Voorde 1, 9000 Gent

Managing director

Director

Managing director

Director

CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
Esplanade Oscar Van de Voorde 1, 9000 GentCurrent	accounts 2021 → 2025	Accounts 2025 · 2026-00164106

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
MG Real EstateCurrent	accounts 2021 → 2025	Accounts 2025 · 2026-00164106

Events

2025
Annual accounts 202516,7 M €↑
2024
Annual accounts 20241,8 M €↓
01/01/2024
nominationMG RE Investment BV · niet-statutaire bestuurder
2023
Annual accounts 20237,9 M €↓
2022
Annual accounts 202219,8 M €↓
17/06/2022
nominationMea Vota One BV · bestuurder
2021
Annual accounts 202125 M €↑
2020
Annual accounts 20201,5 M €↑
2019
Annual accounts 2019-1,3 M €↓
2018
Annual accounts 20182,7 M €↑
2017
Annual accounts 2017-1,3 M €↓
2016
Annual accounts 20164,9 M €↑
2015
Annual accounts 2015966,1 k €↑
2014
Annual accounts 201476 k €↓
2013
Annual accounts 2013285,1 k €↓
2012
Annual accounts 2012447,4 k €↑
2011
Annual accounts 201141,5 k €↑
2010
Annual accounts 201036 k €↓
2009
Annual accounts 2009922,7 k €↑
2008
Annual accounts 2008311,4 k €↑
2007
Annual accounts 2007-44,5 k €
12/11/2003
IncorporationPublic limited company

MG Real Estate

Overview

Identity

Financials

Valuation

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

Timeline

Registered offices

Company names

Events