Active BE 0724.556.247Private limited company

DEWITTE-MG PROJECTS

Weidestraat 120 ·8310 Brugge, Belgium· 7 yrs active

Sector: Manufacture of fabricated metal products, except machinery and equipment (25120)

Conclusion Checked

The computed 12-month bankruptcy probability of DEWITTE-MG PROJECTS is 1.6% (moderate). The 2024 annual accounts show equity of €370k and a net result of €67k. Equity is growing by ~21% per year across the filed fiscal years. Its solvency ranks better than 95% of 1223 sector peers (fiscal year 2024). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 5 annual accounts.

Key figures

Equity	€370k
Net result	€67k
Staff (FTE)	3
Better than sector	95%

Financial profile 5 of 5 axes measured · computed by Checked

86 / 100

Exceptional profile, strong across almost every axis.

All 5 axes are computed from data Checked has read.

Health 90

Profitability 90

Solvency 100

Growth 52

Stability 100

Bankruptcy probability (12 mo) Checked model v1 · free

1.6% Moderate

0%0,5%1,5%4%10%≥25%

How do we compute this?

Risk Assessment rule-based

0 / 100

Low risk

Trust signals 2 signals

More than 3 years active

Founded in 2019, past the statistically most fragile first 3 years.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags0 events

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Checked score FY 2024 · computed

90 / 100 Excellent

050100

Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

Indicative credit limit

€35k

estimate, not credit advice

Score history

60 2020

88 2021

100 2022

100 2023

90 2024

purely financial, excl. current insolvency signals

Score components

Liquidity Current ratio 8.77 (≥ 1.5) +10

Quick ratio Quick ratio 8.31 (≥ 1.0) +5

Leverage Debt/equity 0.10 (< 1.0) +10

Profitability ROE 18% (≥ 10%) +10

Interest coverage Interest coverage 145.2× (≥ 3×) +8

Profit trend Net profit down YoY -3

Computed by Checked from the NBB filing for FY 2024. Indicative, not credit advice.

Financial overview5 NBB filings

Annual accounts filed on 12-02-2026 with the NBB · fiscal year 2024 · abbreviated schema

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

growing Equity: growth of ~21%/year over 5 fiscal years, indicative, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2024 · NACE 25, Manufacture of fabricated metal products, except machinery and equipment · compared within the same schema type (abbreviated schema)

Metric	This company	Sector median	Position in the sector
Solvency	90.6%	46.8%	better than 95% of 1223 sector peers
Net result	€67k	€59k	better than 52% of 1223 sector peers
Equity	€370k	€602k	better than 36% of 1223 sector peers
Gross operating margin	€301k	€537k	better than 34% of 1222 sector peers
Staff costs	€173k	€396k	higher than 26% of 1009 sector peers

EBITDA

€120k

-20.4% 20-24

Net profit

€67k

-19.1% 20-24

Cash flow

€101k

-17.3% 20-24

Total assets

€408k

-13.9% 20-24

Equity

€370k

-0.8% 20-24

Working capital

€299k

+10.5% 20-24

Employees (FTE)

3

-9.1% 20-24

Staff costs

€173k

-8.1% 20-24

Income taxes

€19k

-25.2% 20-24

Dividends

€70k

- 20-24

Debt

€39k

-62.1% 20-24

Debt ≤ 1y

€39k

-62.1% 20-24

Debt > 1y

€32k

- 20-24

Current ratio

8.77

+139.3% 20-24

Quick ratio

8.31

+138.8% 20-24

Solvency

90.6%

+15.3% 20-24

Debt / equity

0.10

-61.8% 20-24

ROE

18.0%

-18.4% 20-24

ROA

16.3%

-6.0% 20-24

Interest coverage

145.18

+240.3% 20-24

Figures by fiscal year and ratios

Change versus the prior fiscal year, coloured by direction (green = favourable).

Fiscal year	2024 Δ	2023 Δ	2022 Δ	2021 Δ	2020 Δ
Deposit	abbreviated schema	abbreviated schema	abbreviated schema	abbreviated schema	micro schema
Revenue	-	-	-	-	-
EBITDA	-20.4%	-0.7%	+29.9%	-58.1%	-
Net profit	-19.1%	+2.3%	+47.2%	-63.4%	-
Cash flow	-17.3%	+2.4%	+27.5%	-54.0%	-
Staff costs	-8.1%	-2.4%	+12.3%	-	-
Income taxes	-25.2%	-22.2%	+49.0%	-70.0%	-
Dividends	-	-	-	-	-
Total assets	-13.9%	+14.3%	+4.1%	-8.2%	-
Equity	-0.8%	+28.3%	+38.3%	+35.2%	-
Debt	-62.1%	-18.3%	-34.0%	-32.3%	-
of which ≤ 1y	-62.1%	-18.3%	-34.0%	-22.2%	-
of which > 1y	-	-	-	-	-
Working capital	+10.5%	+70.7%	+305.8%	-	-
Employees (FTE)	-9.1%	0.0%	-5.7%	+20.7%	-

Note: these years are not on the same basis. The filed schemas differ (abbreviated schema, micro schema), so the columns are not directly comparable.

Ratios (computed)

	2024	2023	2022	2021	2020
Current ratio	8.77	3.66	2.28	1.21	0.92
Quick ratio	8.31	3.48	2.14	1.12	0.85
Working capital ratio	73.3%	57.1%	38.2%	9.8%	-4.2%
Solvency	90.6%	78.6%	70.0%	52.7%	35.8%
Debt / equity	0.10	0.27	0.43	0.90	0.20
Long-term debt ratio	-	-	-	-	0.20
Interest coverage	145.18	42.66	274.56	66.50	-
Gross margin	-	-	-	-	-
Net margin	-	-	-	-	-
ROA	16.3%	17.3%	19.4%	13.7%	34.4%
ROE	18.0%	22.1%	27.7%	26.0%	96.0%
EBITDA margin	-	-	-	-	-
Days sales outstanding	-	-	-	-	-
Days payable outstanding	-	-	-	-	-
Inventory turnover	-	-	-	-	-
Days inventory (DSI)	-	-	-	-	-

Balance-sheet composition 2024

Assets

Fixed assets €71k · 17.3% Current assets €338k · 82.7%

Equity & liabilities

Equity €370k · 90.6% Debt €39k · 9.4%

Full annual accounts (25 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2024	2023	2022	2021	2020
Balance sheet, Assets
TOTAL ASSETS	20/58	€408k	€475k	€415k	€399k	€434k
Fixed assets	21/28	€71k	€102k	€132k	€171k	€210k
Intangible fixed assets	21	€53k	€66k	€78k	€91k	€103k
Tangible fixed assets	22/27	€17k	€36k	€54k	€80k	€107k
Current assets	29/58	€338k	€373k	€283k	€228k	€224k
Stocks & contracts in progress	3	€17k	€19k	€17k	€17k	€18k
Amounts receivable within one year	40/41	€62k	€45k	€60k	€59k	€17k
Cash & bank	54/58	€259k	€309k	€206k	€152k	€186k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€408k	€475k	€415k	€399k	€434k
Equity	10/15	€370k	€373k	€291k	€210k	€155k
Contributions / capital	10/11	€6k	€6k	€6k	€6k	€6k
Reserves	13	€284k	€284k	€284k	€204k	€149k
Accumulated profits (losses)	14	€80k	€83k	€340	€340	€223
Amounts payable	17/49	€39k	€102k	€124k	€189k	€279k
Amounts payable after one year	17	-	-	-	-	€32k
Amounts payable within one year	42/48	€39k	€102k	€124k	€189k	€242k
Trade debts payable within one year	44	€29k	€63k	€60k	€106k	€45k
Income statement
Gross operating margin	9900	€301k	€342k	€347k	€284k	€611k
Operating result	9901	€85k	€110k	€112k	€77k	€224k
Financial income	75	€2k	€1k	€2k	€1k	€2k
Financial charges	65	€824	€4k	€551	€2k	€3k
Result before taxes	9903	€86k	€108k	€113k	€77k	€223k
Income taxes	67/77	€19k	€26k	€33k	€22k	€74k
Net result for the period	9904	€67k	€82k	€80k	€55k	€149k
Result to be appropriated	9905	€67k	€82k	€80k	€55k	€149k

Legal Structure

NACE primary	Manufacture of fabricated metal products, except machinery and equipment(25120)
Legal form	Private limited company(610)
Incorporation	04-04-2019
Status	Active
Postal code	8310

Establishment units 1 location

DEWITTE-MG PROJECTS

Weidestraat 120, 8310 BruggeManufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials

since 20192.288.517.535

Real-estate footprint Source: CBE × cadastre

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
31434C0017/00A007	Flanders	478 m²	1 · 113 m²	10.6 m · 2 fl.

Methodology

via registered seat: 1

1 of 1 parcel with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Updates 6 events

All 9Financial 3Gazette 1Filings 5

2026

12-02

NBB filing Annual accounts filed

fiscal year 2024 · abbreviated schema · 196 days late

2024

31-12

Financial Liquidity doublescurrent ratio 8.77

Current ratio from 3.66 to 8.77; short-term debt falls from €102k to €39k.

04-10

NBB filing Annual accounts filed

fiscal year 2023 · abbreviated schema · 65 days late

2023

28-12

State Gazette act Director changes

Gert DE KESEL

16-10

NBB filing Annual accounts filed

fiscal year 2022 · abbreviated schema · 77 days late

2022

15-11

NBB filing Annual accounts filed

fiscal year 2021 · abbreviated schema · 107 days late

2021

31-12

Financial Weakest financial yearnet €55k ▼63.4%

Net result drops to €55k, the lowest in the series; recovery starts the following year.

31-12

Financial Equity above €200kEq €210k ▲35.2%

2 profitable years in a row build equity to €210k.

07-09

NBB filing Annual accounts filed

fiscal year 2020 · micro schema · 38 days late

Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Belgian State Gazette reading coverage 0 of 3 acts read

We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.

Belgisch Staatsblad, acts 1 acts

All acts · 1 updated 2 years ago

2023

28-12-2023 Discharge granted to the board Director changes·Gert DE KESEL

Notary: Gert DE KESEL · Brugge

Original publication ↗

Technical details

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Credit advice verdict per customer and amount

Company registry (CBE) Crossroads Bank

Activities

Manufacture of fabricated metal products, except machinery and equipment25120Joinery installation43320Activities of interior architects71112Design of textile patterns, clothing, jewellery, furniture and decorative items74111

Names & trade names

Legal nameNL

DEWITTE-MG PROJECTS

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