M.G. Concept
Open bankruptcyA bankruptcy procedure is open for M.G. Concept according to publications in the Belgian State Gazette; curator: OLIVIER VALANGE. The 2024 annual accounts show equity of €26k and a net result of €4k.
Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 15-09-2025, 46 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 · 2 filingsDeviation from the deadline
2025
not confirmed
2024
46 d late
2023
30 d late
← before the deadline
after the deadline →
Financials · fiscal year 2024, micro schema
Equity
€26k▲ 17.7%
2023 · €22k
2023: €22k
2023 → 2024
Total assets
€38k▲ 42.3%
2023 · €26k
2023: €26k
2023 → 2024
Net result
€4k
2023 · €-821
2023: €-821
2023 → 2024
Working capital
€25k▲ 23.3%
2023 · €20k
2023: €20k
2023 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20232024Trend
Equity€22k-€26k▲ 17.7%
Operating result€501-€9k▲ 1,611%
Net result€-821-€4k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result rises in 2024; 2024 is 1,611% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €38k
Fixed assets
€821▼ 52.3%
Current assets
€37k▲ 48.9%
Equity and liabilities €38k
Equity
€26k▲ 17.7%
Debt
€12k▲ 155%
The debt ratio rises from 17.9% to 32.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€9k▲
2023 · €1k
Cash flow
€5k▲
2023 · €-38
Solvency
67.9%▼
2023 · 82.1%
Current ratio
3.05▼
2023 · 5.30
Quick ratio
3.05▼
2023 · 5.30
Debt / equity
0.47▲
2023 · 0.22
ROE
15.1%▲
2023 · -3.8%
ROA
10.2%▲
2023 · -3.1%
Interest coverage
15.71▲
2023 · 2.17
Debt
€12k▲
2023 · €5k
Debt ≤ 1 year
€12k▲
2023 · €5k
Income taxes
€5k▲
2023 · €2k
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€26k€38k▲
Fixed assets21/28€2k€821▼
Tangible fixed assets22/27€2k€821▼
Plant, machinery and equipment23€348€197▼
Furniture and vehicles24€1k€624▼
Current assets29/58€25k€37k▲
Amounts receivable within one year40/41€21k€27k▲
Trade receivables40€7k€905▼
Other amounts receivable41€14k€26k▲
Cash at bank and in hand54/58€3k€9k▲
Deferred charges and accrued income490/1€1k€2k▲
Equity and liabilities
Total equity and liabilities10/49€26k€38k▲
Equity10/15€22k€26k▲
Contributions10/11€25k€25k=
Profit (loss) carried forward14€-3k€791▲
Amounts payable17/49€5k€12k▲
Amounts payable within one year42/48€5k€12k▲
Trade debts44-€40
Suppliers440/4-€40
Advances received on contracts in progress46-€4k
Taxes, remuneration and social security45€5k€8k▲
Taxes450/3€5k€8k▲
Accrued charges and deferred income492/3€81-
Income statement
Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€783€901▲
Other operating charges640/8€2k€838▼
Gross operating margin9900€4k€10k▲
Operating profit (loss)9901€501€9k▲
Financial income75/76B€848€1k▲
Recurring financial income75€848€1k▲
Financial charges65/66B€593€603▲
Recurring financial charges65€593€603▲
Profit (loss) for the period before taxes9903€757€9k▲
Income taxes67/77€2k€5k▲
Profit (loss) for the period9904€-821€4k▲
Profit (loss) for the period to be appropriated9905€-821€4k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-3k€791▲
Profit (loss) brought forward from the previous period14P€-2k€-3k▼
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
04-06
Bankruptcy
Opening
Tribunal de l’entreprise de Liège, division Namur · M.G. CONCEPT SRL RUE DEL’ VAUX 27, 5031 GRAND-LEEZ · event 28-05-2026
2025
15-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 46 days late
2024
31-12
Financial
Back to profitnet €4k
Net result €4k after one loss-making year.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · 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
2 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, Gembloux · 1 establishment unit since 1990
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.
Rue del'vaux, Gd-L. 275031 GemblouxGround area
578 m²
Building footprint
138 m²
Volume, LiDAR
747 m³
2 parcels, Wallonia · tallest building 12.5 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
Avenue Paul Pastur 149, 6032 Charleroi
since 19902.050.768.456
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92056E0249/00V000 | Wallonia | 313 m² | 1 · 69 m² | - |
| 52050A0578/00M008 | Wallonia | 265 m² | 1 · 69 m² | 12.4 m · 4 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 | OLIVIER VALANGE RUE NICOLAS HAUZEUR 8,
5590 CINEY |
28-05-2026 → present |
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Of 619 companies in sector 31002 we hold annual accounts for 349. 197 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded14-12-1990
Fiscal year end31-12
Activities, NACEBEL
31002Manufacture of furniture
43320Joinery installation
Sources
Crossroads Bank for EnterprisesNational Bank · 2 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.