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M. & Co

Active
Private limited companyfounded 199333 yrs activeBeekmeersstraat(Ned) 9, 9636 Zwalm, BelgiumKBO/BCE: BE 0450.349.917
Summary

M. & Co has been active since 1993 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €219,814 and a net result of -€1,651. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 74% of 661 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).

Checked score

Score 2025
Axes · tick = 2024
Profitability36▲+20
Solvency93▼-7
Growth52=
Track record100
Bankruptcy probability, 12 months
0.3% Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €14,000 at 30 days acceptable
Liquidity ample (current ratio 1.96; short-term debt: 32% and cash: 7.3% of total assets), and 32% of the assets are financed with debt.
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Signals

Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation date
Age against the risk zone
highest failure risk from 2 to 8 years 33 years 0 40 y
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 32
Relative position
BE, all sectors
reference
Other manufacturing (NACE 32)
about 28% fewer bankruptcies
← fewer bankruptcies more bankruptcies →
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025
Net result per financial year
1819202122232425
2018 to 2025 · latest year -€1,651
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 30-07-2026, 1 day ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
1 d early
2024
13 d early
2023
12 d early
2022
32 d early
2021
30 d early
2020
30 d early
2019
7 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 18 days before the deadline; the sector median for financial year 2024 is 2 days before the deadline, and 40% 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 18 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Position in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

History

On 23 June 1993, M. & Co was incorporated.1 Total assets went from EUR 256,812 in 2023 to EUR 323,334 in 2025.2

  1. 1Crossroads Bank for Enterprises
  2. 2National Bank, annual accounts 2023 and 2025

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Financials · fiscal year 2025, micro schema

Equity
€219,814▼ 0.7%
2024 · €221,465
Total assets
€323,334▲ 45.7%
2024 · €221,852
Net result
-€1,651▲ 91.4%
2024 · -€19,169
Working capital
€99,075▼ 55.3%
2024 · €221,465
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.

Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 32, Other manufacturing, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).

Every figure with its change against the fiscal year before
favourable unfavourable
Line20212022202320242025
Operating result-€941▼ 0.1%-€942▼ 0.2%-€3,390▼ 260%-€19,126▼ 464%-€1,406▲ 92.6%
Net result-€1,007within the sector's middle half▼ 7.2%-€981within the sector's middle half▲ 2.6%-€3,442below the sector's middle half▼ 251%-€19,169below the sector's middle half▼ 457%-€1,651within the sector's middle half▲ 91.4%
Equity-€11,561below the sector's middle half▼ 9.5%-€12,542below the sector's middle half▼ 8.5%€240,634above the sector's middle half€221,465above the sector's middle half▼ 8.0%€219,814above the sector's middle half▼ 0.7%
Total assets€56below the sector's middle half▲ 146%€544below the sector's middle half▲ 871%€256,812within the sector's middle half▲ 47,104%€221,852within the sector's middle half▼ 13.6%€323,334within the sector's middle half▲ 45.7%
Debt€11,617▲ 9.8%€13,086▲ 12.6%€16,178▲ 23.6%€387▼ 97.6%€103,520▲ 26,626%
Working capital-€11,561below the sector's middle half▼ 9.5%-€12,542below the sector's middle half▼ 8.5%€240,634above the sector's middle half€221,465above the sector's middle half▼ 8.0%€99,075within the sector's middle half▼ 55.3%
Solvency93.7%above the sector's middle half99.8%above the sector's middle half▲ 6.1pp68.0%within the sector's middle half▼ 31.8pp
Current ratio15.87above the sector's middle half1.96within the sector's middle half
Return on assets (ROA)-1.3%within the sector's middle half-8.6%below the sector's middle half▼ 7.3pp-0.5%within the sector's middle half▲ 8.1pp
above within below the middle half (P25 to P75) of NACE 32, Other manufacturing, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
-€20,000-€15,000-€10,000-€5,000€0Operating result 2021: -€941-€941Net result 2021: -€1,007-€1,007Operating result 2022: -€942-€942Net result 2022: -€981-€981Operating result 2023: -€3,390-€3,390Net result 2023: -€3,442-€3,442Operating result 2024: -€19,126-€19,126Net result 2024: -€19,169-€19,169Operating result 2025: -€1,406-€1,406Net result 2025: -€1,651-€1,65120212022202320242025-€20,000-€15,000-€10,000-€5,000€0Operating result 2023: -€3,390-€3,390Net result 2023: -€3,442-€3,440Operating result 2024: -€19,126-€19,100Net result 2024: -€19,169-€19,200Operating result 2025: -€1,406-€1,410Net result 2025: -€1,651-€1,650202320242025
The operating result stays negative: a loss of €1,406 in 2025 against €19,126 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €323,334
Fixed assets €120,739
Current assets €202,595
Equity and liabilities €323,334
Equity €219,814 ▼ 0.7%
Debt €103,520 ▲ 26,626%
Debt's share of the balance-sheet total rises from 0.2% to 32.0%. Equity is lower and debt is higher.
Key figures and ratios
2025 value · change against 2024
Debt to equity
0.47▲
2024 · 0.00
ROE
-0.8%▲
2024 · -8.7%
Debt ≤ 1 year
€103,520▲
2024 · €387
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 12,321 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 90% are still going.

  • Micro
  • 20 years or older
  • solvency 30% or more
  • a small loss
0.7% went bankrupt
8.6% stopped otherwise
90% still going

A further 0.5% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a bankruptcy probability of 0.3% over twelve months; the group does not contradict it.

How reliable is this rule?

Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.

The companies in ten equal groups, from lowest to highest expected share.
Group Expected Actual
1 0.2% 0.2%
2 0.3% 0.5%
3 0.5% 0.6%
4 0.7% 0.8%
5 0.9% 1.0%
6 1.3% 1.5%
7 1.6% 1.8%
8 1.8% 1.8%
9 3.0% 3.1%
10 5.6% 6.2%

The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.

An observation about 12,321 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.

Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 29 lines
Balance sheet Code20242025
Assets
Total assets20/58€221,852€323,334▲
Fixed assets21/28-€120,739
Financial fixed assets28-€120,739
Current assets29/58€221,852€202,595▼
Amounts receivable within one year40/41€191,022€179,062▼
Other amounts receivable41€191,022€179,062▼
Cash at bank and in hand54/58€30,830€23,533▼
Equity and liabilities
Total equity and liabilities10/49€221,852€323,334▲
Equity10/15€221,465€219,814▼
Contributions10/11€300,000€300,000=
Reserves13€4,338€4,338=
Non-distributable reserves130/1€4,338€4,338=
Reserves not available under the articles1311€4,338€4,338=
Profit (loss) carried forward14-€82,873-€84,524▼
Amounts payable17/49€387€103,520▲
Amounts payable within one year42/48€387€103,520▲
Trade debts44€387-
Suppliers440/4€387-
Other amounts payable47/48-€103,520
Income statement Code20242025
Other operating charges640/8€528€544▲
Gross operating margin9900-€18,598-€862▲
Operating profit (loss)9901-€19,126-€1,406▲
Financial charges65/66B€44€245▲
Recurring financial charges65€44€245▲
Profit (loss) for the period before taxes9903-€19,169-€1,651▲
Profit (loss) for the period9904-€19,169-€1,651▲
Profit (loss) for the period to be appropriated9905-€19,169-€1,651▲
Appropriation of the result
Profit (loss) to be appropriated9906-€82,873-€84,524▼
Profit (loss) brought forward from the previous period14P-€63,704-€82,873▼

The notes to these accounts (3 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20212022202320242025Change
Other operating charges640/8€120€469€516€528€544▲ 3.0%
Gross operating margin9900-€821-€473-€2,874-€18,598-€862▲ 95.4%
Operating profit (loss)9901-€941-€942-€3,390-€19,126-€1,406▲ 92.6%
Financial charges65/66B€67€39€52€44€245▲ 463%
Recurring financial charges65€67€39€52€44€245▲ 463%
Profit (loss) for the period before taxes9903-€1,007-€981-€3,442-€19,169-€1,651▲ 91.4%
Profit (loss) for the period9904-€1,007-€981-€3,442-€19,169-€1,651▲ 91.4%
Profit (loss) for the period to be appropriated9905-€1,007-€981-€3,442-€19,169-€1,651▲ 91.4%
Line20212022202320242025Change
Assets
Total assets20/58€56€544€256,812€221,852€323,334▲ 45.7%
Fixed assets21/28----€120,739-
Financial fixed assets28----€120,739-
Current assets29/58€56€544€256,812€221,852€202,595▼ 8.7%
Amounts receivable within one year40/41---€191,022€179,062▼ 6.3%
Other amounts receivable41---€191,022€179,062▼ 6.3%
Cash at bank and in hand54/58€56€544€256,812€30,830€23,533▼ 23.7%
Equity and liabilities
Total equity and liabilities10/49€56€544€256,812€221,852€323,334▲ 45.7%
Equity10/15-€11,561-€12,542€240,634€221,465€219,814▼ 0.7%
Contributions10/11€43,381€43,381€300,000€300,000€300,000=
Reserves13€4,338€4,338€4,338€4,338€4,338=
Non-distributable reserves130/1€4,338€4,338€4,338€4,338€4,338=
Reserves not available under the articles1311€4,338€4,338€4,338€4,338€4,338=
Profit (loss) carried forward14-€59,280-€60,261-€63,704-€82,873-€84,524▼ 2.0%
Amounts payable17/49€11,617€13,086€16,178€387€103,520▲ 26,626%
Amounts payable within one year42/48€11,617€13,086€16,178€387€103,520▲ 26,626%
Trade debts44-€348€384€387--
Suppliers440/4-€348€384€387--
Other amounts payable47/48€11,617€12,739€15,793-€103,520-
Line20212022202320242025Change
Profit (loss) for the period9904-€1,007-€981-€3,442-€19,169-€1,651▲ 91.4%
Operating cash flow (approximation)-€1,007-€981-€3,442-€19,169-€1,651▲ 91.4%
Change in cash-€488€256,268-€225,982-€7,297▲ 96.8%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

Next filing, fiscal year 2026, expected by 31-07-2027
2026
30-07
NBB filing Annual accounts filed
fiscal year 2025 · micro schema
2025
18-07
NBB filing Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial Weakest financial yearnet -€19,169
Net result drops to -€19,169, the lowest in the series; recovery starts the following year.
31-12
Financial Liquidity times 36current ratio 572.76
Current ratio from 15.87 to 572.76; short-term debt falls from €16,178 to €387.
19-07
NBB filing Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial Liquidity times 382current ratio 15.87
Current ratio from 0.04 to 15.87.
31-12
Financial Equity above €200,000Eq €240,634
Equity rises from -€12,542 to €240,634.
29-06
NBB filing Annual accounts filed
fiscal year 2022 · micro schema
2022
01-07
NBB filing Annual accounts filed
fiscal year 2021 · micro schema
2021
01-07
NBB filing Annual accounts filed
fiscal year 2020 · micro schema
2020
24-07
NBB filing Annual accounts filed
fiscal year 2019 · micro schema
2019
01-07
NBB filing Annual accounts filed
fiscal year 2018 · micro schema
2018
28-06
NBB filing Annual accounts filed
fiscal year 2017 · micro schema
2017
29-06
NBB filing Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts

We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.

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Directors · office · real estate

Directors
No directors read yet: 0 of 2 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Zwalm · 1 establishment unit since 1993
seat establishment The establishment unit on the map
Ground area
1.0 ha
Building footprint
284 m²
Volume, LiDAR
1,333 m³
Parcel 45030B0406/00D000, Flanders · tallest building 7.2 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
M. & Co
Beekmeersstraat(Ned) 9, 9636 ZwalmNACE 28520
since 19932.062.776.561
1 parcel
Flanders 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
45030B0406/00D000 Flanders 1.0 ha 1 · 284 m² 7.2 m · 2 fl.
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.

Structure & network

Owners and holdings

1 holding

Owners 0

The accounts to 31-12-2025 list no shareholders, and no other source names one.

Holdings 1

According to the 2025 annual accounts of M. & Co 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

No current directors or connected companies found in the register.

Similar companies · same sector, comparable size

Of 910 companies in this sector we hold annual accounts for 163. 111 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector

Company details

Identification
Legal formPrivate limited company
Founded23-06-1993
Fiscal year end31-12
Activities, NACEBEL 2025
32990Other manufacturing not elsewhere classified
E-invoicing
Reachable via Peppol
Peppol ID 0208:0450349917
Also 9925:BE0450349917
Registered 19-02-2025

If you follow this company, Checked tells you the day it leaves the Peppol register.

Register as of 30 September 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.