M-Engin

Active

Private limited companyfounded 20197 yrs activeHoegaardenstraat 23, 3300 Tienen, BelgiumKBO/BCE: BE 0733.883.489

The computed 12-month bankruptcy probability of M-Engin is 1.8% (moderate). The 2024 annual accounts show equity of €173k and a net result of €42k. Equity is growing by ~28.4% per year across the filed fiscal years. Its solvency ranks better than 56% of 1630 sector peers (fiscal year 2024). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.

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Checked score

Score 2024

88 / 100

Excellent▼ -5 vs 2023

The score combines four axes. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability100=

Solvency82▼-16

Growth78=

Stability100

Bankruptcy probability, 12 months

1.8% Moderate

0%0.5%1.5%4%10%≥ 25%

Credit up to €15k at 30 days acceptable

Liquidity tight (current ratio 1.39 against 2.32 in 2023), and 48.4% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Four signals. The signal on the left, the evidence on the right.

+raises risk○neutral

Limited track record

This company has not been active as long as an established one and statistically fails somewhat more often.

KBO · incorporation date

Age against the risk zone

Higher-failure-rate sector

In this sector companies fail more often than the Belgian average.

Gazette · bankruptcies per sector, NACE 33

Relative position

BE, all sectors

reference

Sector 33

higher

← fewer bankruptcies more bankruptcies →

Latest accounts filed on time

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 01-07-2025, 30 days ahead of the deadline.

NBB · 5 filings

Deviation from the deadline

2025

not confirmed

2024

30 d early

2023

40 d early

2022

11 d early

2021

4 d early

2020

1 d early

← before the deadline after the deadline →

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

Financials · fiscal year 2024, micro schema

Equity

€173k▲ 32.4%

2023 · €130k

2020: €36k 2021: €65k 2022: €118k 2023: €130k

2020 → 2024

Total assets

€334k▲ 50.7%

2023 · €222k

2020: €69k 2021: €110k 2022: €358k 2023: €222k

2020 → 2024

Net result

€42k▼ 3.1%

2023 · €44k

2020: €31k 2021: €29k 2022: €53k 2023: €44k

2020 → 2024

Working capital

€63k▼ 47.9%

2023 · €121k

2020: €34k 2021: €64k 2022: €17k 2023: €121k

2020 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20202021202220232024Trend

Equity€36k-€65k▲ 81.0%€118k▲ 81.6%€130k▲ 10.6%€173k▲ 32.4%

Operating result€41k-€39k▼ 6.0%€72k▲ 87.1%€59k▼ 17.6%€59k▼ 0.2%

Net result€31k-€29k▼ 5.8%€53k▲ 82.3%€44k▼ 17.8%€42k▼ 3.1%

Turnover and EBIT margin not published: the micro schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result has fallen two years in a row; 2024 is 0% below 2023.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €334k

32.8%

67.2%

Fixed assets €110k▲ 1,038%

Current assets €225k▲ 5.8%

Equity and liabilities €334k

51.6%

48.4%

Equity €173k▲ 32.4%

Debt €162k▲ 76.7%

The debt ratio rises from 41.3% to 48.4%: debt grows faster than equity.

Key figures and ratios

2024 value · change against 2023

EBITDA

€65k▲

2023 · €62k

Cash flow

€48k▲

2023 · €47k

Solvency

51.6%▼

2023 · 58.7%

Current ratio

1.39▼

2023 · 2.32

Quick ratio

1.39▼

2023 · 2.32

Debt / equity

0.94▲

2023 · 0.70

ROE

24.5%▼

2023 · 33.4%

ROA

12.6%▼

2023 · 19.6%

Interest coverage

249.59▲

2023 · 61.65

Debt

€162k▲

2023 · €92k

Debt ≤ 1 year

€162k▲

2023 · €92k

Income taxes

€17k▲

2023 · €16k

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€222k€334k▲

Fixed assets21/28€10k€110k▲

Tangible fixed assets22/27€10k€10k▲

Plant, machinery and equipment23€5k€4k▼

Furniture and vehicles24€5k€6k▲

Financial fixed assets28-€100k

Current assets29/58€212k€225k▲

Amounts receivable after more than one year29€51k-

Other amounts receivable291€51k-

Amounts receivable within one year40/41€138k€205k▲

Trade receivables40€138k€205k▲

Cash at bank and in hand54/58€22k€20k▼

Equity and liabilities

Total equity and liabilities10/49€222k€334k▲

Equity10/15€130k€173k▲

Contributions10/11€5k€5k=

Profit (loss) carried forward14€125k€168k▲

Amounts payable17/49€92k€162k▲

Amounts payable within one year42/48€92k€162k▲

Trade debts44€65€1k▲

Suppliers440/4€65€1k▲

Taxes, remuneration and social security45€34k€28k▼

Taxes450/3€34k€28k▼

Other amounts payable47/48€58k€132k▲

Accrued charges and deferred income492/3-€64

Income statement Code20232024

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€3k€6k▲

Other operating charges640/8€760€445▼

Gross operating margin9900€63k€65k▲

Operating profit (loss)9901€59k€59k▼

Financial income75/76B€1k-

Recurring financial income75€1k-

Financial charges65/66B€1k€260▼

Recurring financial charges65€1k€260▼

Profit (loss) for the period before taxes9903€59k€59k▼

Income taxes67/77€16k€17k▲

Profit (loss) for the period9904€44k€42k▼

Profit (loss) for the period to be appropriated9905€44k€42k▼

Appropriation of the result

Profit (loss) to be appropriated9906€156k€168k▲

Profit (loss) brought forward from the previous period14P€113k€125k▲

Profit to be distributed694/7€31k-

Return on contributions (dividend)694€31k-

The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 10Financial 5Filings 5

2025

01-07

NBB filing Annual accounts filed

fiscal year 2024 · micro schema

2024

31-12

Financial Equity above €150kEq €173k ▲32.4%

5 profitable years in a row build equity to €173k.

21-06

NBB filing Annual accounts filed

fiscal year 2023 · micro schema

2023

31-12

Financial Liquidity doublescurrent ratio 2.32

Current ratio from 1.07 to 2.32; short-term debt falls from €240k to €92k.

20-07

NBB filing Annual accounts filed

fiscal year 2022 · micro schema

2022

31-12

Financial Highest result since 2020net €53k ▲82.3%

Operating result €72k, net result €53k, both a record.

31-12

Financial Equity above €100kEq €118k ▲81.6%

3 profitable years in a row build equity to €118k.

27-07

NBB filing Annual accounts filed

fiscal year 2021 · micro schema

2021

31-12

Financial Weakest financial yearnet €29k ▼5.8%

Net result drops to €29k, the lowest in the series; recovery starts the following year.

30-07

NBB filing Annual accounts filed

fiscal year 2020 · micro schema

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

1 act for this company is 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, Tienen · 1 establishment unit since 2019

establishment The establishment unit on the map

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.

Hoegaardenstraat 233300 Tienen

Ground area

800 m²

Building footprint

384 m²

Volume, LiDAR

2,719 m³

Parcel 24593G0476/00B003, Flanders · tallest building 12.2 m, ±3 floors. Linked by address, not a title deed.

1 establishment unit

M-Engin

Hoegaardenstraat 23, 3300 TienenManufacture of other builders' carpentry and joinery

since 20192.293.666.057

1 parcel

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
24593G0476/00B003	Flanders	800 m²	1 · 384 m²	12.2 m · 3 fl.

Linked by address, not proof of ownership

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.

Similar companies · same sector, comparable size

BLACK ICE

BE 0781.689.346

Flémalle · Eq €171k

ONZE LAADPAAL EXPERT!

Of 1,221 companies in sector 33200 we hold annual accounts for 675. 522 are within a factor 10 of this equity.See the whole sector

Company data · Crossroads Bank

Identification

Legal formPrivate limited company

Founded10-09-2019

Fiscal year end31-12

Activities, NACEBEL

33200Installation of industrial machinery and equipment

16230Manufacture of other builders' carpentry and joinery

43230Insulation installation

43240Other construction installation

43291Specialised construction activities

43299Specialised construction activities

43331Floor and wall tiling

71121Engineering and related technical consultancy, excluding land surveyors

Sources

Crossroads Bank for EnterprisesNational Bank · 5 filingsAddress and cadastre registers

Data from official sources, last processed on 14-09-2026. Scores and ratios are computed by Checked and are not a credit decision.