M & G

Active

Public limited companyfounded 198937 yrs activeLouizalaan 85, 1050 Brussel, BelgiumKBO/BCE: BE 0438.056.453

Summary

The computed 12-month bankruptcy probability of M & G is 1.9% (moderate). The 2024 annual accounts show equity of €130,334 and a net result of €12,168. Equity is shrinking by ~10.2% per year across the filed fiscal years. The company has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals.

Risk analysisWatch Report Compare

M & GActiveChecked score 54/100

Risk analysis Report Compare

Activity

Activity not known1 site

Size

€724,452total assets 2024

Equity: €130,334
Profit: €12,168

Turnover not published (abridged schema)

Financial health

54 Fair Checked score 2024

Bankruptcy chance 12 m: 1.9%

Structure

Parent: APACHE BELGIUM · 100%

Accounts 66 d overdue0 of 8 deeds read

Why 54- Figures for FY 2024 (filed 11-08-2025)- Liquidity: current ratio 0.01, cash €1,448- 1 financial year not filed after the legal deadline; latest accounts 11 days late; 2 of the last 3 late+ Size: total assets €724,452Show the evidence

Checked score

Score 2024

54 / 100

Fair

Probability in this band: 1.5% to 4.2%

Better than 40% of its sector peers (no NACE code, micro)

Performance against the sector, not lower risk

Every signal that weighs is under Signals.

Financial strength · tick = 2023

Average

Solvency 43+5

equity 18.0% of total assets

Liquidity 43+9

short-term debt 22.0% · cash 0.2%

Profitability 60+19

return on assets 1.7%

Bankruptcy probability, 12 months

1.9% Moderate

0%0.5%1.5%4%10%≥ 25%

About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).

Last 24 months 11-2024: 0.8% 12-2024: 0.8%● 0.0% vs 11-2024 01-2025: 0.8%● 0.0% vs 12-2024 02-2025: 0.8%● 0.0% vs 01-2025 03-2025: 0.8%● 0.0% vs 02-2025 04-2025: 0.8%▼ -2.4% vs 03-2025 05-2025: 0.8%▲ +0.4% vs 04-2025 06-2025: 0.8%▼ -0.9% vs 05-2025 07-2025: 1.1%▲ +30.6% vs 06-2025 08-2025: 1.6%▲ +49.9% vs 07-2025 09-2025: 0.5%▼ -70.8% vs 08-2025lowest value 10-2025: 0.5%● 0.0% vs 09-2025lowest value 11-2025: 0.5%● 0.0% vs 10-2025lowest value 12-2025: 0.5%● 0.0% vs 11-2025lowest value 01-2026: 0.5%● 0.0% vs 12-2025lowest value 02-2026: 0.5%▲ +1.3% vs 01-2026 03-2026: 0.5%▲ +3.4% vs 02-2026 04-2026: 0.5%▼ -2.5% vs 03-2026 05-2026: 0.5%▲ +3.2% vs 04-2026 06-2026: 0.5%▲ +2.9% vs 05-2026 07-2026: 0.5%▲ +8.2% vs 06-2026 08-2026: 1.1%▲ +111% vs 07-2026 09-2026: 1.3%▲ +16.7% vs 08-2026 10-2026: 1.9%▲ +42.7% vs 09-2026highest value

Size: total assets €724,452 lowers the probability for this profile
Figures for FY 2024 (filed 11-08-2025) raises the probability
Liquidity: current ratio 0.01, cash €1,448 raises the probability
1 financial year not filed after the legal deadline; latest accounts 11 days late; 2 of the last 3 late raises the probability

Credit up to €7,000 at 30 days acceptable

Liquidity short (current ratio 0.01 against 0.0 in 2023; short-term debt: 22% and cash: 0.2% of total assets), and 82% of the assets are financed with debt.

How it is calculated

The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.

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%

Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (no NACE code, micro). Better than this share of them on solvency 27%, liquidity 25%, profitability 40%, growth against the median 68%. That is performance, not lower risk; the band itself always comes from the probability.

Bankruptcy probability: model pd-v3.202610021621, computed on 04-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.

Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.

Credit check for your own amount and term

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Signals

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

−lowers risk+raises risk○neutral

Size: total assets €724,452

In the bankruptcy model this factor lowers the probability for this profile.

NBB · annual accounts

Figures for FY 2024 (filed 11-08-2025)

In the bankruptcy model this factor raises the probability.

NBB · annual accounts

Liquidity: current ratio 0.01, cash €1,448

In the bankruptcy model this factor raises the probability.

NBB · annual accounts

1 financial year not filed after the legal deadline; latest accounts 11 days late; 2 of the last 3 late

In the bankruptcy model this factor raises the probability.

NBB · filings

Growing equity

Reported equity is higher than in 2022 and did not fall compared with 2023. These amounts do not establish the cause of the change.

NBB · annual accounts 2024

Equity per financial year

18192021222324

2018 to 2024 · latest year €130,334

Filed after the deadline

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 11-08-2025, 11 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.

NBB · 10 filings

Deviation from the deadline

2025

not confirmed

2024

11 d late

2023

31 d late

2022

31 d late

2021

30 d early

2020

33 d early

2019

105 d late

← before the deadline after the deadline →

tick = median of all Belgian filings

This company filed its last 6 accounts on average 19 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.

Checked, nothing found (1)

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