Equity
€44,415 from €106,023 in 2020
Equity fell by 58% in 5 years.
M&J
Lifetime
20 annual accounts with figures on one time axis, 25 filings since 2001peak €106,584 (2015)
-€2,077▼ €11,822
lowest -€30,842 (2022)
-€8,999▼ €8,604
peak €106,023 (2020)
€44,415▼ 16.8%
€234,907▼ 5.1%
peak 1 FTE (2019)
-not published
Board1 name since 2019
1 directorHAERINCK John
Documentsfilings and deeds
04-09-202635 days late
2025micro format
Gross margin from €9,745 to -€2,077Loss of €8,999Equity from €53,414 to €44,415Cash from €24,433 to €1,748
Key points
from the 2025 annual accountsLosses
-€9,393 in two years
The 2024 and 2025 financial years closed with a loss. 2025 was the heaviest.
Debts
€234,907 84% of the balance sheet
Suppliers 2%Taxes and wages 0%Other 98%
2025 accounts filed 35 days after the deadlineTurnover not published (micro format)
Checked score
62
Healthy
Financially stronger than 14% of micro companies in repair and installation of machinery (NACE 33)
Probability in this band: 0.55% to 1.5%
Bankruptcy probability within 12 months
1.3% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.7% across 2,397 companies (NACE 33, micro).
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.9%
01-2025: 0.9%● unchanged vs 12-2024
02-2025: 0.9%● unchanged vs 01-2025
03-2025: 0.9%● unchanged vs 02-2025
04-2025: 0.9%● unchanged vs 03-2025
05-2025: 1.1%▲ +0.2 percentage points vs 04-2025
06-2025: 1.0%▼ -0.1 percentage points vs 05-2025
07-2025: 0.9%▼ -0.1 percentage points vs 06-2025
08-2025: 0.4%▼ -0.5 percentage points vs 07-2025
09-2025: 0.4%● unchanged vs 08-2025
10-2025: 0.4%● unchanged vs 09-2025
11-2025: 0.4%● unchanged vs 10-2025
12-2025: 0.4%● unchanged vs 11-2025
01-2026: 0.4%● unchanged vs 12-2025lowest value
02-2026: 0.4%● unchanged vs 01-2026lowest value
03-2026: 0.4%● unchanged vs 02-2026lowest value
04-2026: 0.5%▲ +0.1 percentage points vs 03-2026
05-2026: 0.5%● unchanged vs 04-2026
06-2026: 0.4%▼ -0.1 percentage points vs 05-2026
07-2026: 0.5%▲ +0.1 percentage points vs 06-2026
08-2026: 0.9%▲ +0.4 percentage points vs 07-2026
09-2026: 1.1%▲ +0.2 percentage points vs 08-2026
10-2026: 1.3%▲ +0.2 percentage points vs 09-2026highest value
11-2026: 1.3%● unchanged vs 10-2026highest value
Financial strengthWeak
Score breakdown
raises risk
Last filed accounts filed 35 days late; 1 of the last 3 accounts late
Sector: Repair, maintenance and installation of machinery and equipment (NACE 33)
Liquidity: current ratio 0.97, cash €1,748, halved
lowers risk
Size: total assets €279,322
Calculation
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 33, micro). It does better than 20% of them on solvency, 3% on liquidity, 12% on profitability and 20% on growth.
The bankruptcy probability was computed on 09-11-2026 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 31-12-2025.
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).
Comparable companies, two years later
In July 2024, 2,450 companies had the same profile as M&J has now. Each dot stands for 7 companies, two years later.
93.2%
were still trading
5.0%
stopped another way
1.5%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of M&J itself: 1.3% within 12 months.
Test of the method
The method was tested on the 497,447 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 2,450 companies, not a prediction for M&J. 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.
Credit verdict
Credit of up to €2,500 on 30-day terms is acceptable
Liquidity is insufficient, with a current ratio of 0.97 (1.01 in 2024), below 1. Short-term debt is 84.1% and cash 0.6% of total assets. 84.1% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
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.
Signals
Seven signals.
lowers riskraises riskneutral
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€8,999
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 19% of 1697 sector peers (2025).
NBB · sector comparisonPosition among 1697 sector peers
Solvency
better than 19%
← weakest
strongest →
neutral · A punctual record breaks
This company filed 3 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 04-09-2026, 35 days late. Weigh it accordingly: of the companies that move to filing 1 to 90 days late, 1.41% are now bankrupt, dissolved or in another special legal status, below the 1.66% of all filers. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
35 days late
2024
34 days early
2023
40 days early
2022
4 days early
2021
54 days late
2020
16 days late
2019
4 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 4 days after the deadline. In the sector (NACE 33), the median for financial year 2024 was 3 days before the deadline, and 39% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 27 July (4 of the last 5 accounts filed within 39 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0474174404
Registered office moved within Meulebeke
New registered office: Nijverheidsstraat 28, 8760 Meulebeke · Previous registered office: TIELTSTRAAT 225, 8760 Meulebeke · Board meeting of 26-06-2023 · Gazette deed
Change of role: HAERINCK John, from manager to director
General meeting of 08-03-2022 · Gazette deed
First establishment
Nijverheidsstraat 28, Tielt
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| M&J Tielt | €279,322 | -€2,077 | 15.9% | - |
| AGESYS La Bruyère | €372,167 | -€4,004 | 82.0% | - |
| MEAT ASSISTANCE Sivry-Rance | €165,420 | -€13,278 | 99.0% | - |
| ENGINEER-INC Schaerbeek | €449,901 | -€26,968 | -1.9% | - |
| Na-Tec Waregem | €106,930 | -€36,733 | 62.4% | - |
| PSJ - SOLUTIONS Lommel | €117,530 | -€15,510 | 53.3% | - |
| DUCHATEL Denderleeuw | €103,421 | €284 | 53.1% | - |
These companies have the same main activity as M&J: installation of industrial machinery and equipment (NACE 33200). They are comparable in size and age: total assets between €103,000 and €450,000, founded between 1990 and 2009.
Official details
Source: KBO- Status
- Active since 23-02-2001Normal situation
- Activity
- Installation of industrial machinery and equipmentNACE 33200
- Establishment unit
- 2.093.164.7808760 Tielt, since 18-05-2001
- Financial year end
- 31 December
- Peppol
- Reachable since 01-10-2025
Insights on M&J
M&J files the micro format. That format states no turnover. The gross margin fell from €51,002 in 2006 to -€2,077 in 2025.
The balance sheet grew most from 2012 to 2013 through fixed assets.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about M&J
- What is the company number of M&J?
- The company number of M&J is 0474.174.404. The VAT number is the same number with BE in front: BE 0474.174.404.
- Where is M&J based?
- The registered office is at Nijverheidsstraat 28, 8760 Tielt.Company details
- What does M&J do?
- According to the KBO register, the main activity is installation of industrial machinery and equipment (NACE 33200).
- What is the legal form of M&J?
- M&J is a private limited company (BV).
- When was M&J founded?
- M&J was founded on 23-02-2001.
- Is M&J still active?
- Yes, M&J is an active enterprise in the KBO register.
- How many employees does M&J have?
- M&J had an average of 0.5 full-time equivalents in financial year 2022, according to the filed annual accounts.Financials
- What is the turnover of M&J?
- The annual accounts for financial year 2025 state no turnover. The micro format does not require it.
- Is M&J profitable?
- In financial year 2025, M&J made a loss of €8,999.
- Where can I find the annual accounts of M&J?
- M&J filed 25 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of M&J due?
- M&J must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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