M GILLAIN CONSTRUCT
ActiveSummary
M GILLAIN CONSTRUCT has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €62,411 and a net result of -€15,694. Equity is growing by ~12.2% per year across the filed fiscal years. Its solvency ranks better than 56% of 28374 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.4% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability2▼-87
Solvency77▲+15
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
1.4%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3,000 at 30 days acceptable
Liquidity tight (current ratio 1.44 against 1.68 in 2024; short-term debt: 46.7% and cash: 16.9% of total assets), and 47.8% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
52.2%
Return on assets
-13.1%
Age of the figures
12 mo
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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 23-04-2026, 7 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
7 d early
2024
2 d early
2023
5 d early
2022
5 d early
2021
2 d early
2020
15 d early
2019
23 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 8 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
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. Usually files around 26 April (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 close30-09-2026 today30-04-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€62,411▼ 20.1%
2024 · €78,106
Total assets
€119,542▼ 44.0%
2024 · €213,564
Net result
-€15,694
2024 · €34,269
Working capital
€24,741▼ 64.4%
2024 · €69,566
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€12,573▲ 94.4%€4,502▼ 64.2%€16,988▲ 277%€38,333▲ 126%-€21,971
Net result€8,061within the sector's middle half▲ 1,106%€1,082within the sector's middle half▼ 86.6%€10,877within the sector's middle half▲ 905%€34,269above the sector's middle half▲ 215%-€15,694below the sector's middle half
Equity€42,546within the sector's middle half▲ 23.4%€43,628within the sector's middle half▲ 2.5%€43,837within the sector's middle half▲ 0.5%€78,106within the sector's middle half▲ 78.2%€62,411within the sector's middle half▼ 20.1%
Total assets€127,992within the sector's middle half▲ 8.3%€120,759within the sector's middle half▼ 5.7%€152,325within the sector's middle half▲ 26.1%€213,564within the sector's middle half▲ 40.2%€119,542within the sector's middle half▼ 44.0%
Debt€85,446▲ 2.1%€77,131▼ 9.7%€108,488▲ 40.7%€135,458▲ 24.9%€57,131▼ 57.8%
Working capital-€19,943below the sector's middle half▲ 23.3%-€7,276below the sector's middle half▲ 63.5%-€5,533below the sector's middle half▲ 24.0%€69,566within the sector's middle half€24,741within the sector's middle half▼ 64.4%
Solvency33.2%within the sector's middle half▲ 4.1pp36.1%within the sector's middle half▲ 2.9pp28.8%within the sector's middle half▼ 7.3pp36.6%within the sector's middle half▲ 7.8pp52.2%within the sector's middle half▲ 15.6pp
Current ratio0.68below the sector's middle half▲ 0.230.89below the sector's middle half▲ 0.210.95below the sector's middle half▲ 0.061.68within the sector's middle half▲ 0.731.44within the sector's middle half▼ 0.23
Return on assets (ROA)6.3%within the sector's middle half▲ 5.7pp0.9%within the sector's middle half▼ 5.4pp7.1%within the sector's middle half▲ 6.2pp16.0%within the sector's middle half▲ 8.9pp-13.1%below the sector's middle half▼ 29.2pp
Staff (FTE)1.7▲ 70.0%2.3▲ 35.3%2.1▼ 8.7%4.3▲ 105%1.6▼ 62.8%
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €21,971 after €38,333 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €119,542
Fixed assets
€39,026 ▼ 5.1%
Current assets
€80,516 ▼ 53.3%
Equity and liabilities €119,542
Equity
€62,411 ▼ 20.1%
Debt
€57,131 ▼ 57.8%
Debt's share of the balance-sheet total falls from 63.4% to 47.8%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€5,414▼
2024 · €51,861
Cash flow
€863▼
2024 · €47,797
Debt to equity
0.92▼
2024 · 1.73
ROE
-25.1%▼
2024 · 43.9%
Interest coverage
-3.31▼
2024 · 34.23
Debt ≤ 1 year
€55,775▼
2024 · €102,868
Income taxes
-€7,119▼
2024 · €2,713
Staff costs
€88,340▼
2024 · €140,873
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,592 companies that looked in July 2024 the way this one looks now, 3.0% went bankrupt within 24 months and 87% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a loss of 10% of the balance sheet or more
3.0%
went bankrupt
9.5%
stopped otherwise
87%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.4% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 3,592 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €74,451 | €115,024 | €114,712 | €140,873 | €88,340 | ▼ 37.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €19,580 | €18,890 | €16,345 | €13,528 | €16,557 | ▲ 22.4% |
| Other operating charges640/8 | - | €1,488 | €176 | €128 | €772 | ▲ 503% |
| Non-recurring operating charges66A | - | €2,200 | - | - | - | - |
| Gross operating margin9900 | €106,604 | €142,104 | €148,221 | €192,862 | €83,698 | ▼ 56.6% |
| Operating profit (loss)9901 | €12,573 | €4,502 | €16,988 | €38,333 | -€21,971 | ▼ 157% |
| Financial income75/76B | €39 | €160 | €410 | €164 | €796 | ▲ 385% |
| Recurring financial income75 | €39 | €160 | €410 | €164 | €796 | ▲ 385% |
| Financial charges65/66B | €3,351 | €2,596 | €2,255 | €1,515 | €1,638 | ▲ 8.1% |
| Recurring financial charges65 | €3,351 | €2,596 | €2,255 | €1,515 | €1,638 | ▲ 8.1% |
| Profit (loss) for the period before taxes9903 | €9,261 | €2,066 | €15,143 | €36,982 | -€22,813 | ▼ 162% |
| Income taxes67/77 | €1,200 | €984 | €4,266 | €2,713 | -€7,119 | ▼ 362% |
| Profit (loss) for the period9904 | €8,061 | €1,082 | €10,877 | €34,269 | -€15,694 | ▼ 146% |
| Profit (loss) for the period to be appropriated9905 | €8,061 | €1,082 | €10,877 | €34,269 | -€15,694 | ▼ 146% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €127,992 | €120,759 | €152,325 | €213,564 | €119,542 | ▼ 44.0% |
| Fixed assets21/28 | €85,332 | €63,742 | €54,658 | €41,130 | €39,026 | ▼ 5.1% |
| Intangible fixed assets21 | €65,000 | €55,000 | €45,000 | €35,000 | €25,000 | ▼ 28.6% |
| Tangible fixed assets22/27 | €20,332 | €8,742 | €9,658 | €6,130 | €14,026 | ▲ 129% |
| Plant, machinery and equipment23 | €1,048 | €416 | €5,293 | €3,998 | €7,068 | ▲ 76.8% |
| Furniture and vehicles24 | €19,284 | €8,326 | €4,365 | €2,132 | €6,958 | ▲ 226% |
| Current assets29/58 | €42,660 | €57,017 | €97,667 | €172,434 | €80,516 | ▼ 53.3% |
| Amounts receivable within one year40/41 | €32,430 | €23,997 | €29,632 | €59,966 | €14,274 | ▼ 76.2% |
| Trade receivables40 | €28,428 | €17,636 | €8,283 | €55,475 | €145 | ▼ 99.7% |
| Other amounts receivable41 | €4,002 | €6,361 | €21,349 | €4,491 | €14,129 | ▲ 215% |
| Cash at bank and in hand54/58 | €8,742 | €32,242 | €67,117 | €108,171 | €20,184 | ▼ 81.3% |
| Deferred charges and accrued income490/1 | €1,488 | €778 | €918 | €4,297 | €46,058 | ▲ 972% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €127,992 | €120,759 | €152,325 | €213,564 | €119,542 | ▼ 44.0% |
| Equity10/15 | €42,546 | €43,628 | €43,837 | €78,106 | €62,411 | ▼ 20.1% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Capital10 | €18,600 | €18,600 | - | - | - | - |
| Issued capital100 | €18,600 | €18,600 | - | - | - | - |
| Reserves13 | €23,946 | €25,028 | €25,237 | €59,506 | €43,811 | ▼ 26.4% |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Legal reserve130 | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | €22,086 | €23,168 | €23,377 | €57,646 | €41,951 | ▼ 27.2% |
| Amounts payable17/49 | €85,446 | €77,131 | €108,488 | €135,458 | €57,131 | ▼ 57.8% |
| Amounts payable after more than one year17 | €22,843 | €12,838 | €5,288 | - | - | - |
| Financial debts170/4 | €22,843 | €12,838 | €5,288 | - | - | - |
| Amounts payable within one year42/48 | €62,603 | €64,293 | €103,200 | €102,868 | €55,775 | ▼ 45.8% |
| Current portion of amounts payable after more than one year42 | €13,100 | €10,005 | €7,550 | €5,288 | - | - |
| Financial debts43 | - | €7,335 | - | - | €477 | - |
| Credit institutions430/8 | - | €7,335 | - | - | €477 | - |
| Trade debts44 | €29,192 | €35,936 | €49,931 | €55,515 | €41,018 | ▼ 26.1% |
| Suppliers440/4 | €29,192 | €35,936 | €49,931 | €55,515 | €41,018 | ▼ 26.1% |
| Advances received on contracts in progress46 | €9,316 | €5,500 | €23,834 | €500 | - | - |
| Taxes, remuneration and social security45 | €4,664 | €5,517 | €12,817 | €18,427 | €2,027 | ▼ 89.0% |
| Taxes450/3 | €2,120 | €1,000 | €9,961 | €11,477 | €2,027 | ▼ 82.3% |
| Remuneration and social security454/9 | €2,544 | €4,517 | €2,856 | €6,950 | - | - |
| Other amounts payable47/48 | €6,332 | - | €9,068 | €23,138 | €12,253 | ▼ 47.0% |
| Accrued charges and deferred income492/3 | - | - | - | €32,590 | €1,356 | ▼ 95.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €8,061 | €1,082 | €10,877 | €34,269 | -€15,694 | ▼ 146% |
| + Depreciation and write-downs630 | €19,580 | €18,890 | €16,345 | €13,528 | €16,557 | ▲ 22.4% |
| Operating cash flow (approximation) | €27,641 | €19,972 | €27,222 | €47,797 | €863 | ▼ 98.2% |
| Investment in fixed assets (approximation) | - | €2,700 | -€7,261 | €0 | -€14,453 | - |
| Change in cash | - | €23,500 | €34,875 | €41,054 | -€87,987 | ▼ 314% |
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
23-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-09
Financial
Weakest financial yearnet -€15,694
Net result drops to -€15,694, the lowest in the series.
28-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-09
Financial
Highest result since 2019net €34,269 ▲215%
Operating result €38,333, net result €34,269, both a record.
25-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
25-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
28-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
15-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
07-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro 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, Ham-sur-Heure-Nalinnes · 1 establishment unit since 2018
Ground area
1,587 m²
Building footprint
184 m²
Volume, LiDAR
962 m³
Parcel 56058A0332/00M000, Wallonia · tallest building 7.1 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
M GILLAIN CONSTRUCT
since 20182.278.374.107
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 56058A0332/00M000 | Wallonia | 1,587 m² | 1 · 184 m² | 7.1 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 8,576 companies in sector 43410 we hold annual accounts for 4,371. 3,760 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
Founded26-07-2018
Fiscal year end30-09
Activities, NACEBEL 2025
43410Roofing work
43120Site preparation
43230Insulation installation
43421Specialised construction activities
Contact
E-mail
gillain.toitures@gmail.comHam-sur-Heure-Nalinnes
Phone
0484983662Ham-sur-Heure-Nalinnes
E-invoicing
Reachable via Peppol
Peppol ID
0208:0700414729
Registered
03-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.