M CONSTRUCT
Open bankruptcyA bankruptcy procedure is open for M CONSTRUCT according to publications in the Belgian State Gazette; curator: LISA HEUNINCK. The 2024 annual accounts show equity of €11k and a net result of €5k.
Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 23-07-2025, 8 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
not confirmed
2024
8 d early
2023
31 d late
2022
11 d early
2021
29 d late
2020
44 d early
2019
98 d late
← before the deadline
after the deadline →
Financials · fiscal year 2024, micro schema
Turnover
€168k▼ 5.1%
2022 · €177k
2021: €68k
2022: €177k
2021 → 2023
EBIT margin
-7.4%▼ 8.8pp
2022 · 1.4%
2021: 14.5%
2022: 1.4%
2021 → 2023
Net result
€5k
2023 · €-13k
2018: €2k
2019: €1k
2020: €1k
2021: €6k
2022: €2k
2023: €-13k
2018 → 2024
Working capital
€8k▼ 39.4%
2023 · €13k
2018: €9k
2019: €9k
2020: €11k
2021: €17k
2022: €16k
2023: €13k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Turnover€68k€177k▲ 162%€168k▼ 5.1%
Equity€11k-€17k▲ 57.0%€19k▲ 9.5%€6k▼ 66.9%€11k▲ 73.9%
Operating result€4k-€10k▲ 126%€3k▼ 74.4%€-12k€5k
Net result€1k-€6k▲ 408%€2k▼ 74.0%€-13k€5k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2024: €5k after a loss of €12k in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €31k
Fixed assets
€3k
Current assets
€28k
Equity and liabilities €31k
Equity
€11k▲ 73.9%
Debt
€21k▲ 15.0%
The debt ratio falls from 74.3% to 65.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€6k▲
2023 · €-10k
Cash flow
€6k▲
2023 · €-10k
Solvency
34.3%▲
2023 · 25.7%
Current ratio
1.38▼
2023 · 2.15
Quick ratio
1.38▼
2023 · 2.15
Debt / equity
1.91▼
2023 · 2.89
ROE
42.5%▲
2023 · -202.2%
ROA
14.6%▲
2023 · -51.9%
Interest coverage
12.89▲
2023 · -49.57
Debt
€21k▲
2023 · €18k
Debt ≤ 1 year
€21k▲
2023 · €11k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€24k€31k▲
Fixed assets21/28€0€3k▲
Tangible fixed assets22/27€0€3k▲
Furniture and vehicles24€0€3k▲
Financial fixed assets28€0-
Current assets29/58€24k€28k▲
Amounts receivable within one year40/41€24k€28k▲
Trade receivables40€14k€12k▼
Other amounts receivable41€10k€17k▲
Cash at bank and in hand54/58€481-
Equity and liabilities
Total equity and liabilities10/49€24k€31k▲
Equity10/15€6k€11k▲
Contributions10/11€6k€6k=
Outside capital11€6k€6k=
Other1109/19€6k€6k=
Profit (loss) carried forward14€9€5k▲
Amounts payable17/49€18k€21k▲
Amounts payable within one year42/48€11k€21k▲
Financial debts43-€3k
Credit institutions430/8-€3k
Trade debts44€11k€14k▲
Suppliers440/4€11k€10k▼
Bills of exchange payable441-€3k
Taxes, remuneration and social security45€596€4k▲
Taxes450/3€596€4k▲
Accrued charges and deferred income492/3€7k-
Income statement
Code20232024
Turnover70€168k-
Non-recurring operating income76A€0-
Goods, raw materials, services and sundry goods60/61€178k-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2k€977▼
Other operating charges640/8€99€290▲
Gross operating margin9900€-10k€6k▲
Operating profit (loss)9901€-12k€5k▲
Financial income75/76B€0€0▲
Recurring financial income75€0€0▲
Financial charges65/66B€205€468▲
Recurring financial charges65€205€468▲
Profit (loss) for the period before taxes9903€-13k€5k▲
Income taxes67/77€0-
Profit (loss) for the period9904€-13k€5k▲
Profit (loss) for the period to be appropriated9905€-13k€5k▲
Appropriation of the result
Profit (loss) to be appropriated9906€9€5k▲
Profit (loss) brought forward from the previous period14P€13k€9▼
The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2026
03-06
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Dendermonde · M CONSTRUCT BV PROVIN- CIALE BAAN (BAA) 145/5, 9200 DENDERMONDE · event 26-05-2026
2025
23-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €5k
Net result €5k after one loss-making year.
31-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 31 days late
2023
31-12
Financial
Weakest financial yearnet €-13k ▼874%
Net result drops to €-13k, the lowest in the series.
20-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
29-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 29 days late
2021
31-12
Financial
Highest result since 2018net €6k ▲408%
Operating result €10k, net result €6k, both a record.
17-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Liquidity times 5current ratio 11.77
Current ratio from 2.57 to 11.77; short-term debt falls from €6k to €1k.
06-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 98 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
7 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Dendermonde · 1 establishment unit since 2018
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Provinciale baan (BAA) 1459200 DendermondeGround area
2,357 m²
Building footprint
413 m²
Volume, LiDAR
1,794 m³
2 parcels, Flanders · tallest building 10.3 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Hoogstraat 57, 9308 Aalst
since 20182.274.312.478
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 42002C0575/00X000 | Flanders | 1,743 m² | 1 · 229 m² | 6.9 m · 1 fl. |
| 41029A1150/00B000 | Flanders | 614 m² | 1 · 184 m² | 10.3 m · 1 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | LISA HEUNINCK INDUSTRIEPARK-WEST 75, 9100 SINT-
NIKLAAS |
26-05-2026 → present |
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Of 6,156 companies in sector 46190 we hold annual accounts for 2,571. 1,335 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded09-01-2018
Fiscal year end31-12
Activities, NACEBEL
46190Agents in non-specialised wholesale trade
43230Insulation installation
43291Specialised construction activities
43350Other building finishing work
43910Bricklaying and masonry work
43994Specialised construction activities
49410Freight transport by road
81220Other building cleaning and industrial cleaning
81300Landscape service activities
Sources
Crossroads Bank for EnterprisesNational Bank · 7 filingsAddress and cadastre registers
Data from official sources, last processed on 20-09-2026. Scores and ratios are computed by Checked and are not a credit decision.