Summary
MG SERVICES has a registered holding activity and consists mainly of financial fixed assets; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2024 annual accounts show equity of €4.0m and a net result of €13,869. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 72% of 9742 sector peers (fiscal year 2024). The company has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Holding: general score not applicable
The company has a registered holding activity and financial fixed assets account for more than half of its assets. The general operating-company model is unsuitable for this profile, so we show no financial axes either. Filed figures remain available.
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 15-06-2026, 46 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
46 d early
2024
12 d late
2023
12 d late
2022
42 d early
2021
32 d early
2020
24 d early
2019
29 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 21 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 29 June (4 of the last 5 filed years within 44 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2024, abbreviated schema
Equity
€4.0m▲ 0.3%
2023 · €4.0m
Total assets
€6.9m▼ 4.6%
2023 · €7.2m
Net result
€13,869▼ 85.1%
2023 · €93,067
Working capital
-€569,562▲ 2.7%
2023 · -€585,639
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result-€55,723▼ 440%€78,207€134,582▲ 72.1%€276,827▲ 106%€182,084▼ 34.2%
Net result€72,350within the sector's middle half▼ 58.6%€111,375within the sector's middle half▲ 53.9%€44,891within the sector's middle half▼ 59.7%€93,067within the sector's middle half▲ 107%€13,869within the sector's middle half▼ 85.1%
Equity€5.3mabove the sector's middle half▼ 60.0%€3.9mabove the sector's middle half▼ 26.3%€3.9mabove the sector's middle half▲ 1.2%€4.0mabove the sector's middle half▲ 2.4%€4.0mabove the sector's middle half▲ 0.3%
Total assets€15.8mabove the sector's middle half▼ 7.5%€8.3mabove the sector's middle half▼ 47.7%€7.3mabove the sector's middle half▼ 11.6%€7.2mabove the sector's middle half▼ 1.0%€6.9mabove the sector's middle half▼ 4.6%
Debt€10.5m▲ 172%€4.4m▼ 58.4%€3.4m▼ 23.0%€3.2m▼ 4.9%€2.9m▼ 10.7%
Working capital€661,914above the sector's middle half▼ 92.3%-€721,766below the sector's middle half-€677,412below the sector's middle half▲ 6.1%-€585,639below the sector's middle half▲ 13.5%-€569,562below the sector's middle half▲ 2.7%
Solvency33.4%within the sector's middle half▼ 43.9pp47.0%within the sector's middle half▲ 13.6pp53.8%within the sector's middle half▲ 6.8pp55.7%within the sector's middle half▲ 1.8pp58.5%within the sector's middle half▲ 2.9pp
Current ratio1.06within the sector's middle half▼ 2.150.84within the sector's middle half▼ 0.230.80within the sector's middle half▼ 0.040.82within the sector's middle half▲ 0.020.80within the sector's middle half▼ 0.02
Return on assets (ROA)0.5%within the sector's middle half▼ 0.6pp1.3%within the sector's middle half▲ 0.9pp0.6%within the sector's middle half▼ 0.7pp1.3%within the sector's middle half▲ 0.7pp0.2%within the sector's middle half▼ 1.1pp
Staff (FTE)0.3below the sector's middle half1within the sector's middle half▲ 233%1within the sector's middle half=1.3within the sector's middle half▲ 30.0%
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 34% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €6.9m
Fixed assets
€4.6m ▼ 0.1%
Current assets
€2.3m ▼ 12.5%
Equity and liabilities €6.9m
Equity
€4.0m ▲ 0.3%
Debt
€2.9m ▼ 10.7%
Debt's share of the balance-sheet total falls from 44.3% to 41.5%. Equity is higher and debt is lower.
Key figures and ratios
ROE
0.3%▼
2023 · 2.3%
Debt ≤ 1 year
€2.9m▼
2023 · €3.2m
Income taxes
€19,431▼
2023 · €37,815
Staff costs
€154,386▲
2023 · €121,906
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €32,049 | €111,388 | €121,906 | €154,386 | ▲ 26.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,000 | €5,000 | €5,020 | €5,547 | €3,067 | ▼ 44.7% |
| Other operating charges640/8 | - | €357 | €1,983 | €1,244 | €996 | ▼ 20.0% |
| Non-recurring operating charges66A | - | - | - | - | €1,382 | - |
| Gross operating margin9900 | -€50,464 | €115,613 | €252,972 | €405,524 | €341,914 | ▼ 15.7% |
| Operating profit (loss)9901 | -€55,723 | €78,207 | €134,582 | €276,827 | €182,084 | ▼ 34.2% |
| Financial income75/76B | - | €134,909 | €8,535 | €16 | €564 | ▲ 3,412% |
| Recurring financial income75 | €365,369 | €134,909 | €8,535 | €16 | €564 | ▲ 3,412% |
| Financial charges65/66B | - | €60,270 | €78,009 | €145,960 | €149,348 | ▲ 2.3% |
| Recurring financial charges65 | €94,087 | €60,270 | €78,009 | €145,960 | €149,348 | ▲ 2.3% |
| Profit (loss) for the period before taxes9903 | €139,764 | €152,846 | €65,107 | €130,882 | €33,300 | ▼ 74.6% |
| Income taxes67/77 | €67,414 | €41,471 | €20,216 | €37,815 | €19,431 | ▼ 48.6% |
| Profit (loss) for the period9904 | €72,350 | €111,375 | €44,891 | €93,067 | €13,869 | ▼ 85.1% |
| Profit (loss) for the period to be appropriated9905 | €72,350 | €111,375 | €44,891 | €93,067 | €13,869 | ▼ 85.1% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €15.8m | €8.3m | €7.3m | €7.2m | €6.9m | ▼ 4.6% |
| Fixed assets21/28 | €4.6m | €4.6m | €4.6m | €4.6m | €4.6m | ▼ 0.1% |
| Tangible fixed assets22/27 | €14,986 | €9,986 | €10,524 | €12,048 | €9,609 | ▼ 20.2% |
| Plant, machinery and equipment23 | - | €9,986 | €8,861 | €10,946 | €7,375 | ▼ 32.6% |
| Furniture and vehicles24 | - | - | €1,662 | €1,102 | €2,235 | ▲ 103% |
| Financial fixed assets28 | €4.6m | €4.6m | €4.6m | €4.6m | €4.6m | = |
| Current assets29/58 | €11.2m | €3.7m | €2.7m | €2.6m | €2.3m | ▼ 12.5% |
| Stocks and contracts in progress3 | €491,853 | €1.9m | €2.1m | €1.4m | €1.4m | = |
| Stocks30/36 | - | €1.9m | €2.1m | €1.4m | €1.4m | = |
| Amounts receivable within one year40/41 | €10.6m | €1.7m | €440,416 | €805,652 | €812,375 | ▲ 0.8% |
| Trade receivables40 | - | €281,231 | €440,416 | €805,652 | €800,023 | ▼ 0.7% |
| Other amounts receivable41 | - | €1.4m | - | - | €12,352 | - |
| Cash at bank and in hand54/58 | €101,746 | €54,381 | €156,893 | €387,972 | €54,766 | ▼ 85.9% |
| Deferred charges and accrued income490/1 | - | - | €1,677 | €85 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €15.8m | €8.3m | €7.3m | €7.2m | €6.9m | ▼ 4.6% |
| Equity10/15 | €5.3m | €3.9m | €3.9m | €4.0m | €4.0m | ▲ 0.3% |
| Contributions10/11 | €3.0m | €3.0m | €3.0m | €3.0m | €3.0m | = |
| Capital10 | - | €3.0m | €3.0m | €3.0m | €3.0m | = |
| Issued capital100 | - | €3.0m | €3.0m | €3.0m | €3.0m | = |
| Reserves13 | €303,800 | €303,800 | €303,800 | €303,800 | €303,800 | = |
| Non-distributable reserves130/1 | - | €303,800 | €303,800 | €303,800 | €303,800 | = |
| Legal reserve130 | - | €303,800 | €303,800 | €303,800 | €303,800 | = |
| Profit (loss) carried forward14 | €1.9m | €544,636 | €589,527 | €682,594 | €696,463 | ▲ 2.0% |
| Amounts payable17/49 | €10.5m | €4.4m | €3.4m | €3.2m | €2.9m | ▼ 10.7% |
| Amounts payable within one year42/48 | €10.5m | €4.4m | €3.4m | €3.2m | €2.9m | ▼ 10.7% |
| Trade debts44 | - | €334,839 | €25,269 | €73,202 | €35,833 | ▼ 51.0% |
| Suppliers440/4 | - | €334,839 | €25,269 | €73,202 | €35,833 | ▼ 51.0% |
| Taxes, remuneration and social security45 | - | €102,182 | €82,413 | €73,893 | €36,004 | ▼ 51.3% |
| Taxes450/3 | - | €99,008 | €73,590 | €62,140 | €24,203 | ▼ 61.1% |
| Remuneration and social security454/9 | - | €3,174 | €8,823 | €11,753 | €11,800 | ▲ 0.4% |
| Other amounts payable47/48 | - | €3.9m | €3.3m | €3.1m | €2.8m | ▼ 8.7% |
| Accrued charges and deferred income492/3 | - | - | - | €231 | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €72,350 | €111,375 | €44,891 | €93,067 | €13,869 | ▼ 85.1% |
| + Depreciation and write-downs630 | €5,000 | €5,000 | €5,020 | €5,547 | €3,067 | ▼ 44.7% |
| Operating cash flow (approximation) | €77,350 | €116,375 | €49,911 | €98,614 | €16,936 | ▼ 82.8% |
| Investment in fixed assets (approximation) | - | -€55 | -€5,557 | -€7,071 | -€628 | ▲ 91.1% |
| Change in cash | - | -€47,364 | €102,511 | €231,079 | -€333,206 | ▼ 244% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
11-08
State Gazette act
Reappointment: Ernst & Young Bedrijfsrevisoren (statutory auditor)Appointments: MG RE Investment BV, Prodit BV and 3 others · Permanent representatives: Ignace De Paepe, Ignace Tytgat and 3 others17 facts ▸
State Gazette act
Reappointment: Ernst & Young Bedrijfsrevisoren (statutory auditor)
Appointments: MG RE Investment BV, Prodit BV and 3 others · Permanent representatives: Ignace De Paepe, Ignace Tytgat and 3 others17 facts ▸
- General meeting, 13-06-2025
- Auditor reappointment, Ernst & Young Bedrijfsrevisoren
- General meeting, 22-06-2026
- Other statement, niet-statutaire bestuurder, alle op heden in functie zijnde bestuurders
- Director appointment, MG RE Investment BV (non-statutory director)
- Permanent representative, Ignace De Paepe (permanent representative)
- Director appointment, Prodit BV (non-statutory director)
- Permanent representative, Ignace Tytgat (permanent representative)
- Director appointment, SCS BV (non-statutory director)
- Permanent representative, Stacey Smits (permanent representative)
- Director appointment, Mea Vota One BV (non-statutory director)
- Permanent representative, Anja Tackaert (permanent representative)
- +5 further facts in this act
15-06
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
12-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 12 days late
2024
31-12
Financial
Weakest financial yearnet €13,869 ▼85.1%
Net result drops to €13,869, the lowest in the series.
12-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 12 days late
2023
19-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
29-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
07-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
02-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
02-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
28-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
26-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 12 acts read
About the unread acts
Of the 12 Belgian State Gazette acts we know for this company, 1 has been read. The other 11 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
under verification, last change in 2026
This board is reconstructed from a single act (26352033). A Gazette act generally publishes only CHANGES, not a full roll call, so directors unchanged since then may be missing here. The KBO register holds the complete list of function holders.
Board 6
9000 Estate
CurrentNon-statutory director · since 22-06-2026 · Private limited company · perm. rep.: Guillaume De Paepe
MEA VOTA ONE
CurrentNon-statutory director · since 22-06-2026 · Private limited company · perm. rep.: Anja Tackaert
MG RE Investment
CurrentNon-statutory director · since 22-06-2026 · Private limited company · perm. rep.: Ignace De Paepe
PRODIT
CurrentNon-statutory director · since 22-06-2026 · Private limited company · perm. rep.: Ignace Tytgat
SCS
CurrentNon-statutory director · since 22-06-2026 · Legal entity · perm. rep.: Stacey Smits
SCS BV
CurrentNon-statutory director · since 11-08-2026 · Legal entity · from a recent act
Day-to-day management 1
MG RE Investment
CurrentManaging director · since 11-08-2026 · Private limited company · perm. rep.: Ignace De Paepe
Permanent representatives 5
Anja Tackaert
CurrentPermanent representative · since 22-06-2026 · for MEA VOTA ONE
Guillaume De Paepe
CurrentPermanent representative · since 22-06-2026 · for 9000 Estate
Ignace De Paepe
CurrentPermanent representative · since 22-06-2026 · for MG RE Investment
Ignace Tytgat
CurrentPermanent representative · since 22-06-2026 · for PRODIT
Stacey Smits
CurrentPermanent representative · since 22-06-2026 · for SCS
Statutory auditor 1
Ernst & Young Bedrijfsrevisoren
CurrentAuditor · since 11-08-2026 · perm. rep.: Christophe Boschmans
"From a recent act": read from a Gazette act not yet processed into our list of directors.
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
11 of this company's 12 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Gent · 2 establishment units since 2007
Ground area
3,175 m²
Building footprint
1,010 m²
Volume, LiDAR
1,563 m³
2 parcels, Flanders · tallest building 8.5 m, ±2 floors. Linked by address, not a title deed.
96
companies at this address
See who is registered here
2 establishment units
MG Services
since 20072.161.943.027
MG Services
since 20212.318.623.563
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44809I0649/52A002 | Flanders | 1,701 m² | 1 · 822 m² | 4.8 m |
| 44049E0339/00B000 | Flanders | 1,474 m² | 1 · 189 m² | 8.5 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Mandate history
7 people since 2026, 7 in office
- Board
- Day-to-day management
- Statutory auditor
| Name | Functions and periods |
|---|---|
| 9000 Estate |
|
| MEA VOTA ONE |
|
| MG RE Investment |
|
| PRODIT |
|
| SCS |
|
| SCS BVfrom an act |
|
| Ernst & Young Bedrijfsrevisoren |
|
Structure & network
Part of the group
MG RE Invest S.A.
40 companies
Group, risk and exposure
Owners and holdings
2 owners · 3 holdingsChain of control
- Mg Re InvestLU
- MG Real Estate
- MG SERVICES
Highest known parent: Mg Re Invest (Luxembourg). The sources do not say who stands above it.
Owners 2
-
98.39%
- Mg Re Invest S.A.LUSourceown accounts 20241.61%
Holdings 3
-
99.81%
-
99.5%
-
99.35%
According to the 2024 annual accounts of MG SERVICES and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
5 current directorsThe group is listed under Ownership & control below; here you explore it as a network.
This company
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Shareholding
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Identification & contact
Identification
Legal formPublic limited company
Founded19-03-2007
Fiscal year end31-12
Activities, NACEBEL 2025
68110Buying and selling of own real estate
68321Property management for co-owned buildings (syndics)
52249Warehousing and support activities for transportation
64210Activities of holding companies
68310Real estate agency activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0888065880
Registered
26-08-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Business parks
1 parkManages business park:Oostzavelland/De Hulst_a