Equity
Equity fell by 84% in 1 year.
Equity fell by 84% in 1 year.
Green is investment, beige is depreciation.
In 2025, 7 people joined and 9 left.
Higher net result than 91% of companies in food products. Sector median €8,233 · 1,909 companies.
The dashed line is the sector median: 1.1% across 3,083 companies (NACE 10, micro).
About 9 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 10, micro). It does better than 24% of them on solvency, 47% on liquidity, 85% on profitability and 7% on growth.
The bankruptcy probability was computed on 04-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 30-06-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 513 companies had the same profile as M&F Meat has now. Each dot stands for 2 companies, two years later.
That fits the bankruptcy probability of M&F Meat itself: 0.9% within 12 months.
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 513 companies, not a prediction for M&F Meat. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Liquidity is tight, with a current ratio of 1.07 (2.13 in 2024), below the usual 1.5. Short-term debt is 93.1% and cash 78.7% of total assets. 93.1% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 4 accounts on average 54 days before the deadline. In the sector (NACE 10), the median for financial year 2024 was 4 days before the deadline, and 38% of those companies filed late.
| Company | Total assets | Gross margin | Solvency | Staff |
|---|---|---|---|---|
| M&F Meat Lochristi | €447,469 | €0.6m | 6.9% | - |
| COMEX Ghent | €505,154 | €0.5m | 51.5% | 7.3 |
| L&M EVOLUTION Geel | €429,484 | €1.0m | -37.0% | - |
| KVH SOLUTIONS Maldegem | €354,260 | €1.0m | 53.3% | - |
| BEGLOBAL Ghent | €395,509 | €1.2m | 41.6% | 20 |
| Aicha Express Lede | €361,777 | €0.6m | 57.7% | - |
| SCHIFFLER Theux | €824,451 | €0.4m | -11.3% | 9.2 |
These companies have the same main activity as M&F Meat: manufacture of food products (NACE 10111). They are comparable in size and age: total assets between €354,000 and €824,000, founded between 2020 and 2024.
M&F Meat files the micro format. That format states no turnover. The gross margin rose from €1,059 in 2022 to €627,789 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
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