M-CONSTRUCTION
ActiveSummary
M-CONSTRUCTION has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €104k and a net result of €-74. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 95% of 14128 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability37▲+2
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6k at 30 days acceptable
cash: 0.1% of total assets, and 0% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 29-04-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
on the day
2023
on the day
2022
30 d late
2021
2 d late
2020
on the day
2019
on the day
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€104k▼ 0.1%
2024 · €104k
2018: €-15k
2019: €-45k▼ -189% vs 2018
2020: €-5k▲ +87.9% vs 2019
2021: €-73k▼ -1248% vs 2020lowest in 8 years
2022: €10k▲ +114% vs 2021
2023: €105k▲ +940% vs 2022highest in 8 years
2024: €104k▼ -0.8% vs 2023
2025: €104k▼ -0.1% vs 2024
2018 → 2025
Total assets
€104k▼ 0.1%
2024 · €104k
2018: €1.24M
2019: €1.48M▲ +19.3% vs 2018highest in 8 years
2020: €1.10M▼ -25.9% vs 2019
2021: €701k▼ -36.0% vs 2020
2022: €634k▼ -9.6% vs 2021
2023: €113k▼ -82.1% vs 2022
2024: €104k▼ -8.1% vs 2023
2025: €104k▼ -0.1% vs 2024lowest in 8 years
2018 → 2025
Net result
€-74▲ 91.3%
2024 · €-843
2018: €-1k
2019: €-29k▼ -2623% vs 2018
2020: €39k▲ +234% vs 2019
2021: €-68k▼ -272% vs 2020lowest in 8 years
2022: €83k▲ +223% vs 2021
2023: €95k▲ +14.4% vs 2022highest in 8 years
2024: €-843▼ -101% vs 2023
2025: €-74▲ +91.3% vs 2024
2018 → 2025
Working capital
€105k
2022 · €-458k
2018: €-272k
2019: €-284k▼ -4.3% vs 2018
2020: €-724k▼ -155% vs 2019
2021: €-768k▼ -6.1% vs 2020lowest in 6 years
2022: €-458k▲ +40.4% vs 2021
2023: €105k▲ +123% vs 2022highest in 6 years
2018 → 2023
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€-73k-€10k€105k▲ 940%€104k▼ 0.8%€104k▼ 0.1%
2021: €-73klowest in 5 years
2022: €10k▲ +114% vs 2021
2023: €105k▲ +940% vs 2022highest in 5 years
2024: €104k▼ -0.8% vs 2023
2025: €104k▼ -0.1% vs 2024
Operating result€-67k-€83k€128k▲ 53.8%€-774
2021: €-67klowest in 4 years
2022: €83k▲ +225% vs 2021
2023: €128k▲ +53.8% vs 2022highest in 4 years
2024: €-774▼ -101% vs 2023
Net result€-68k-€83k€95k▲ 14.4%€-843€-74▲ 91.3%
2021: €-68klowest in 5 years
2022: €83k▲ +223% vs 2021
2023: €95k▲ +14.4% vs 2022highest in 5 years
2024: €-843▼ -101% vs 2023
2025: €-74▲ +91.3% vs 2024
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2024: a loss of €774 after €128k in 2023.
Key figures and ratios
Solvency
100.0%=
2024 · 100.0%
ROE
-0.1%▲
2024 · -0.8%
ROA
-0.1%▲
2024 · -0.8%
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 21 lines
Balance sheet
Code20242025
Assets
Total assets20/58€104k€104k▼
Current assets29/58€104k€104k▼
Amounts receivable within one year40/41€104k€104k=
Other amounts receivable41€104k€104k=
Cash at bank and in hand54/58€162€88▼
Equity and liabilities
Total equity and liabilities10/49€104k€104k▼
Equity10/15€104k€104k▼
Contributions10/11€6k€6k=
Reserves13€98k€98k▼
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€96k€96k▼
Income statement
Code20242025
Gross operating margin9900€-774-
Operating profit (loss)9901€-774-
Financial charges65/66B€69€74▲
Recurring financial charges65€69€74▲
Profit (loss) for the period before taxes9903€-843€-74▲
Profit (loss) for the period9904€-843€-74▲
Profit (loss) for the period to be appropriated9905€-843€-74▲
Appropriation of the result
Profit (loss) to be appropriated9906€-843€-74▲
Transfer from equity791/2€843€74▼
The notes to these accounts (1 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €70k | €136k | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €23k | - | - | - | - | - |
| Other operating charges640/8 | €2k | €2k | €3k | - | - | - |
| Gross operating margin9900 | €-41k | €85k | €132k | €-774 | - | - |
| Operating profit (loss)9901 | €-67k | €83k | €128k | €-774 | - | - |
| Financial charges65/66B | €148 | €124 | €239 | €69 | €74 | ▲ 6.5% |
| Recurring financial charges65 | €148 | €124 | €239 | €69 | €74 | ▲ 6.5% |
| Profit (loss) for the period before taxes9903 | €-67k | €83k | €128k | €-843 | €-74 | ▲ 91.3% |
| Income taxes67/77 | €558 | €254 | €33k | - | - | - |
| Profit (loss) for the period9904 | €-68k | €83k | €95k | €-843 | €-74 | ▲ 91.3% |
| Profit (loss) for the period to be appropriated9905 | €-68k | €83k | €95k | €-843 | €-74 | ▲ 91.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €701k | €634k | €113k | €104k | €104k | ▼ 0.1% |
| Fixed assets21/28 | €697k | €468k | - | - | - | - |
| Tangible fixed assets22/27 | €697k | €468k | - | - | - | - |
| Land and buildings22 | €696k | €468k | - | - | - | - |
| Furniture and vehicles24 | €1k | - | - | - | - | - |
| Current assets29/58 | €4k | €165k | €113k | €104k | €104k | ▼ 0.1% |
| Amounts receivable within one year40/41 | €318 | €1k | €476 | €104k | €104k | = |
| Other amounts receivable41 | €318 | €1k | €476 | €104k | €104k | = |
| Cash at bank and in hand54/58 | €3k | €164k | €113k | €162 | €88 | ▼ 45.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €701k | €634k | €113k | €104k | €104k | ▼ 0.1% |
| Equity10/15 | €-73k | €10k | €105k | €104k | €104k | ▼ 0.1% |
| Contributions10/11 | €6k | €6k | €6k | €6k | €6k | = |
| Reserves13 | €35k | €35k | €99k | €98k | €98k | ▼ 0.1% |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | €2k | €2k | €2k | €2k | €2k | = |
| Distributable reserves133 | €33k | €33k | €97k | €96k | €96k | ▼ 0.1% |
| Profit (loss) carried forward14 | €-114k | €-31k | - | - | - | - |
| Amounts payable17/49 | €774k | €623k | €8k | - | - | - |
| Amounts payable within one year42/48 | €772k | €623k | €8k | - | - | - |
| Trade debts44 | €3k | €2k | €55 | - | - | - |
| Suppliers440/4 | €3k | €2k | €55 | - | - | - |
| Taxes, remuneration and social security45 | €558 | €254 | €8k | - | - | - |
| Taxes450/3 | €558 | €254 | €8k | - | - | - |
| Other amounts payable47/48 | €769k | €621k | - | - | - | - |
| Accrued charges and deferred income492/3 | €2k | - | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-68k | €83k | €95k | €-843 | €-74 | ▲ 91.3% |
| + Depreciation and write-downs630 | €23k | - | - | - | - | - |
| Operating cash flow (approximation) | €-44k | €83k | €95k | €-843 | €-74 | ▲ 91.3% |
| Investment in fixed assets (approximation) | - | €229k | - | - | - | - |
| Change in cash | - | €161k | €-51k | €-113k | €-74 | ▲ 99.9% |
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
29-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-04
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
30-04
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-09
Financial
Highest result since 2018net €95k ▲14.4%
Net result €95k, the highest in the series.
30-09
Financial
Liquidity times 51current ratio 13.52
Current ratio from 0.27 to 13.52; short-term debt falls from €623k to €8k.
30-09
Financial
Equity above €100kEq €105k ▲940%
2 profitable years in a row build equity to €105k.
30-05
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 30 days late
2022
30-09
Financial
Back to profitnet €83k
Net result €83k after one loss-making year.
02-05
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 2 days late
2021
30-09
Financial
Weakest financial yearnet €-68k
Net result drops to €-68k, the lowest in the series; recovery starts the following year.
30-04
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
30-09
Financial
Back to profitnet €39k
Net result €39k after 2 loss-making years.
Show earlier events
30-04
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
30-04
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
29-05
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 29 days late
2017
30-03
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 3 acts read
About the unread acts
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.
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Directors · office · real estate
Directors
3 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, Ninove · 1 establishment unit since 2011
Ground area
1,055 m²
Building footprint
476 m²
Volume, LiDAR
4,492 m³
2 parcels, Flanders · tallest building 15.2 m, ±4 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
M-CONSTRUCTION
since 20112.195.785.040
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41362B1025/00D000 | Flanders | 609 m² | 1 · 353 m² | 15.0 m · 3 fl. |
| 23352F0146/00Z000 | Flanders | 446 m² | 1 · 122 m² | 15.2 m · 4 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.
Similar companies · same sector, comparable size
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VASTGOED 't WATERHUYS
BE 0474.172.028
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CCIC - Contigo Real Estate
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Of 9,698 companies in sector 68121 we hold annual accounts for 7,384. 5,314 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded18-01-2011
Fiscal year end30-09
Activities, NACEBEL 2025
68121Development of residential building projects
41001General construction of residential buildings
68122Development of non-residential building projects
68110Buying and selling of own real estate
Scores and ratios are computed by Checked and are not a credit decision.