M&H CONSTRUCTS
ActiveSummary
The computed 12-month bankruptcy probability of M&H CONSTRUCTS is 1.6% (moderate). The 2025 annual accounts show equity of €29k and a net result of €503. Equity is growing by ~14.5% per year across the filed fiscal years. Its solvency ranks better than 52% of 4522 sector peers (fiscal year 2025). The company has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability39▼-6
Solvency67▲+2
Growth52=
Track record100
Bankruptcy probability, 12 months
1.6%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €1k at 30 days acceptable
Liquidity ample (current ratio 1.7 against 1.64 in 2024; short-term debt: 57.8% and cash: 15.2% of total assets), but 57.8% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+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 81
Relative position
BE, all sectors
reference
Services to buildings and landscape activities (NACE 81)
about 79% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
42.2%
Return on assets
0.7%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-07-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
28 d late
2023
20 d late
2022
149 d late
2021
92 d late
2020
92 d late
2019
69 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
€111k▼ 20.1%
2023 · €139k
2022: €161khighest in 3 years
2023: €139k▼ -13.5% vs 2022
2024: €111k▼ -20.1% vs 2023lowest in 3 years
2022 → 2024
EBIT margin
3.2%▼ 12.0pp
2023 · 15.2%
2022: 20.6%highest in 3 years
2023: 15.2%▼ -26.2% vs 2022
2024: 3.2%▼ -78.8% vs 2023lowest in 3 years
2022 → 2024
Net result
€503▼ 77.7%
2024 · €2k
2019: €-452
2020: €-5k▼ -928% vs 2019lowest in 7 years
2021: €-3k▲ +26.1% vs 2020
2022: €29k▲ +958% vs 2021highest in 7 years
2023: €20k▼ -33.2% vs 2022
2024: €2k▼ -88.5% vs 2023
2025: €503▼ -77.7% vs 2024
2019 → 2025
Working capital
€28k▲ 1.8%
2024 · €27k
2019: €15k
2020: €11k▼ -30.2% vs 2019
2021: €7k▼ -35.4% vs 2020lowest in 7 years
2022: €21k▲ +209% vs 2021
2023: €25k▲ +17.7% vs 2022
2024: €27k▲ +9.0% vs 2023
2025: €28k▲ +1.8% vs 2024highest in 7 years
2019 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€161k€139k▼ 13.5%€111k▼ 20.1%
2022: €161khighest in 3 years
2023: €139k▼ -13.5% vs 2022
2024: €111k▼ -20.1% vs 2023lowest in 3 years
Equity€7k-€22k▲ 199%€26k▲ 21.6%€29k▲ 8.5%€29k▲ 1.8%
2021: €7klowest in 5 years
2022: €22k▲ +199% vs 2021
2023: €26k▲ +21.6% vs 2022
2024: €29k▲ +8.5% vs 2023
2025: €29k▲ +1.8% vs 2024highest in 5 years
Operating result€-3k-€33k€21k▼ 36.1%€4k▼ 83.0%€2k▼ 35.0%
2021: €-3klowest in 5 years
2022: €33k▲ +1107% vs 2021highest in 5 years
2023: €21k▼ -36.1% vs 2022
2024: €4k▼ -83.0% vs 2023
2025: €2k▼ -35.0% vs 2024
Net result€-3k-€29k€20k▼ 33.2%€2k▼ 88.5%€503▼ 77.7%
2021: €-3klowest in 5 years
2022: €29k▲ +958% vs 2021highest in 5 years
2023: €20k▼ -33.2% vs 2022
2024: €2k▼ -88.5% vs 2023
2025: €503▼ -77.7% vs 2024
Result per fiscal year
Operating resultNet result
The operating result has fallen three years in a row; 2025 is 35% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €69k
Fixed assets
€900 =
Current assets
€68k ▼ 3.6%
Equity and liabilities €69k
Equity
€29k ▲ 1.8%
Debt
€40k ▼ 7.0%
Debt's share of the balance-sheet total falls from 60.0% to 57.8%. Equity is higher and debt is lower.
Key figures and ratios
Current ratio
1.70▲
2024 · 1.64
Debt to equity
1.37▼
2024 · 1.50
ROE
1.7%▼
2024 · 7.9%
ROA
0.7%▼
2024 · 3.1%
Debt ≤ 1 year
€40k▼
2024 · €43k
Income taxes
€2k▲
2024 · €1k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 35 lines
Balance sheet
Code20242025
Assets
Total assets20/58€72k€69k▼
Formation expenses20€363€363=
Fixed assets21/28€900€900=
Financial fixed assets28€900€900=
Current assets29/58€70k€68k▼
Amounts receivable within one year40/41€49k€57k▲
Trade receivables40€48k€57k▲
Other amounts receivable41€433€16▼
Cash at bank and in hand54/58€22k€10k▼
Equity and liabilities
Total equity and liabilities10/49€72k€69k▼
Equity10/15€29k€29k▲
Contributions10/11€19k€19k=
Profit (loss) carried forward14€10k€11k▲
Amounts payable17/49€43k€40k▼
Amounts payable within one year42/48€43k€40k▼
Trade debts44€20k€16k▼
Suppliers440/4€20k€16k▼
Advances received on contracts in progress46€22k€22k=
Taxes, remuneration and social security45€1k€2k▲
Taxes450/3€1k€2k▲
Income statement
Code20242025
Turnover70€111k-
Goods, raw materials, services and sundry goods60/61€112k-
Other operating charges640/8€764€2k▲
Gross operating margin9900€4k€4k▼
Operating profit (loss)9901€4k€2k▼
Financial income75/76B€1€17▲
Recurring financial income75€1€17▲
Financial charges65/66B€113€80▼
Recurring financial charges65€113€80▼
Profit (loss) for the period before taxes9903€3k€2k▼
Income taxes67/77€1k€2k▲
Profit (loss) for the period9904€2k€503▼
Profit (loss) for the period to be appropriated9905€2k€503▼
Appropriation of the result
Profit (loss) to be appropriated9906€10k€11k▲
Profit (loss) brought forward from the previous period14P€8k€10k▲
The notes to these accounts (2 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | - | €161k | €139k | €111k | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | €129k | €128k | €112k | - | - |
| Other operating charges640/8 | €2k | €265 | €577 | €764 | €2k | ▲ 106% |
| Gross operating margin9900 | €-996 | €33k | €22k | €4k | €4k | ▼ 10.2% |
| Operating profit (loss)9901 | €-3k | €33k | €21k | €4k | €2k | ▼ 35.0% |
| Financial income75/76B | - | - | €0 | €1 | €17 | ▲ 2,256% |
| Recurring financial income75 | - | - | €0 | €1 | €17 | ▲ 2,256% |
| Financial charges65/66B | €141 | €282 | €318 | €113 | €80 | ▼ 28.7% |
| Recurring financial charges65 | €141 | €282 | €318 | €113 | €80 | ▼ 28.7% |
| Profit (loss) for the period before taxes9903 | €-3k | €33k | €21k | €3k | €2k | ▼ 34.8% |
| Income taxes67/77 | - | €3k | €1k | €1k | €2k | ▲ 44.6% |
| Profit (loss) for the period9904 | €-3k | €29k | €20k | €2k | €503 | ▼ 77.7% |
| Profit (loss) for the period to be appropriated9905 | €-3k | €29k | €20k | €2k | €503 | ▼ 77.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €54k | €68k | €61k | €72k | €69k | ▼ 3.5% |
| Formation expenses20 | €363 | €363 | €363 | €363 | €363 | = |
| Fixed assets21/28 | - | - | €900 | €900 | €900 | = |
| Financial fixed assets28 | - | - | €900 | €900 | €900 | = |
| Current assets29/58 | €54k | €68k | €60k | €70k | €68k | ▼ 3.6% |
| Amounts receivable within one year40/41 | €51k | €59k | €55k | €49k | €57k | ▲ 18.2% |
| Trade receivables40 | €37k | €43k | €37k | €48k | €57k | ▲ 19.2% |
| Other amounts receivable41 | €14k | €16k | €18k | €433 | €16 | ▼ 96.4% |
| Cash at bank and in hand54/58 | €3k | €8k | €5k | €22k | €10k | ▼ 52.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €54k | €68k | €61k | €72k | €69k | ▼ 3.5% |
| Equity10/15 | €7k | €22k | €26k | €29k | €29k | ▲ 1.8% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Capital10 | €19k | €19k | €19k | - | - | - |
| Issued capital100 | €19k | €19k | €19k | - | - | - |
| Profit (loss) carried forward14 | €-11k | €3k | €8k | €10k | €11k | ▲ 5.0% |
| Amounts payable17/49 | €47k | €46k | €35k | €43k | €40k | ▼ 7.0% |
| Amounts payable within one year42/48 | €47k | €46k | €35k | €43k | €40k | ▼ 7.0% |
| Trade debts44 | €20k | €15k | €15k | €20k | €16k | ▼ 20.1% |
| Suppliers440/4 | €20k | €15k | €15k | €20k | €16k | ▼ 20.1% |
| Advances received on contracts in progress46 | €8k | - | - | €22k | €22k | = |
| Taxes, remuneration and social security45 | €12k | €10k | €4k | €1k | €2k | ▲ 90.3% |
| Taxes450/3 | €9k | €9k | €4k | €1k | €2k | ▲ 90.3% |
| Remuneration and social security454/9 | €3k | €1k | - | - | - | - |
| Other amounts payable47/48 | €7k | €21k | €15k | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-3k | €29k | €20k | €2k | €503 | ▼ 77.7% |
| Operating cash flow (approximation) | €-3k | €29k | €20k | €2k | €503 | ▼ 77.7% |
| Investment in fixed assets (approximation) | - | - | - | €0 | €0 | - |
| Change in cash | - | €6k | €-4k | €17k | €-11k | ▼ 166% |
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
31-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 28 days late
2024
20-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 20 days late
2023
27-12
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 149 days late
2022
31-12
Financial
Back to profitnet €29k
Net result €29k after 3 loss-making years.
31-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 92 days late
2021
31-10
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 92 days late
2020
31-12
Financial
Weakest financial yearnet €-5k
Net result drops to €-5k, the lowest in the series; recovery starts the following year.
08-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 69 days late
2018
30-11
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 122 days late
2017
27-09
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 58 days late
2016
28-11
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 120 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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
7 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, Sint-Jans-Molenbeek · 1 establishment unit since 2012
Ground area
185 m²
Building footprint
141 m²
Volume, LiDAR
1,687 m³
2 parcels, Brussels · tallest building 17.3 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
M&H constructs
since 20122.210.013.356
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21523B0839/00M008 | Brussels | 117 m² | 1 · 72 m² | 15.7 m · 4 fl. |
| 21442A0069/00X003 | Brussels | 68 m² | 1 · 68 m² | 17.3 m · 5 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 21,213 companies in sector 81300 we hold annual accounts for 4,364. 3,384 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
Founded30-05-2012
Fiscal year end31-12
Activities, NACEBEL 2025
81300Landscape service activities
43990Other specialised construction activities
81210General cleaning of buildings
81220Other building cleaning and industrial cleaning
Scores and ratios are computed by Checked and are not a credit decision.