Equity
-€137,087
Debts exceed assets in financial year 2025.
M.J.
Lifetime
17 annual accounts with figures on one time axis, 48 filings since 1977peak €444,826 (2009)
-€19,098▼ €165,617
lowest -€128,489 (2021)
-€126,876▼ €116,665
peak €517,925 (2012)
-€137,087▼ €126,876
€409,126▼ 5.7%
peak 8.9 FTE (2009)
-not published
Board3 names since 2021
1 directorHenry Corten
Documentsfilings and deeds
21-09-202652 days late
2025abbreviated format
Gross margin from €146,519 to -€19,098Loss of €126,876Purpose change 01-08Equity from -€10,211 to -€137,087Cash from €115,673 to €19,166
Key points
from the 2025 annual accountsLosses
-€137,087 in two years
The 2024 and 2025 financial years closed with a loss. 2025 was the heaviest.
Debts
€409,126 150% of the balance sheet
Financial debts 5%Suppliers 4%Taxes and wages 4%Other 87%
Of this, €403,627 falls due within a year.
Staff
3.1 FTE from 8.9 in 2009
Between 2009 and 2025, 65% of the full-time equivalents disappeared.
Filings
48 annual accounts since 1977
The 2025 accounts came 52 days late. The other nine of the last ten were filed on time.
Position in the sector
-€126,876
Lower net result than 95% of companies in retail trade. Sector median €27,482 · 12,825 companies.
Turnover not published (abbreviated format)Net result -1,143%: 15-month year
Checked score
49
Fair
Financially stronger than 8% of micro companies in retail trade (NACE 47)
Probability in this band: 1.5% to 4.2%
Bankruptcy probability within 12 months
2.6% Moderate
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.6% across 40,280 companies (NACE 47, micro).
About 3 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.1%lowest value
01-2025: 0.1%● unchanged vs 12-2024
02-2025: 0.1%● unchanged vs 01-2025
03-2025: 0.1%● unchanged vs 02-2025
04-2025: 0.1%● unchanged vs 03-2025
05-2025: 1.6%▲ +1.5 percentage points vs 04-2025
06-2025: 1.6%● unchanged vs 05-2025
07-2025: 1.6%● unchanged vs 06-2025
08-2025: 1.6%● unchanged vs 07-2025
09-2025: 1.6%● unchanged vs 08-2025
10-2025: 1.6%● unchanged vs 09-2025
11-2025: 1.6%● unchanged vs 10-2025
12-2025: 1.5%▼ -0.1 percentage points vs 11-2025
01-2026: 1.5%● unchanged vs 12-2025
02-2026: 1.6%▲ +0.1 percentage points vs 01-2026
03-2026: 1.5%▼ -0.1 percentage points vs 02-2026
04-2026: 1.6%▲ +0.1 percentage points vs 03-2026
05-2026: 2.1%▲ +0.5 percentage points vs 04-2026
06-2026: 2.2%▲ +0.1 percentage points vs 05-2026
07-2026: 2.1%▼ -0.1 percentage points vs 06-2026
08-2026: 2.2%▲ +0.1 percentage points vs 07-2026
09-2026: 2.7%▲ +0.5 percentage points vs 08-2026highest value
10-2026: 2.6%▼ -0.1 percentage points vs 09-2026
11-2026: 2.6%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Loss of €126,876, the second in a row (financial year 2025)
Negative equity -€137,087
Sector: Retail trade (NACE 47)
lowers risk
Size: total assets €272,039
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 47, micro). It does better than 6% of them on solvency, 10% on liquidity and 6% on profitability.
The bankruptcy probability was computed on 06-11-2026 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 moderate class on 30-06-2025, 2.4% 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, 6,619 companies had the same profile as M.J. has now. Each dot stands for 17 companies, two years later.
84.5%
were still trading
10.0%
stopped another way
4.5%
went bankrupt
Another 1.0% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of M.J. itself: 2.6% 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 6,619 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
No credit on open account
Liquidity is insufficient, with a current ratio of 0.48 (0.82 in 2024), below 1. Short-term debt is 148.4% and cash 7% of total assets. Equity is negative.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises risk
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year -€137,087
raises risk · 2025 accounts filed 52 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 21-09-2026, 52 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filingsDeviation from the deadline
2025
52 days late
2024
7 days early
2023
84 days early
2022
83 days early
2021
5 days early
2020
on the day
2019
20 days early
← 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 21 days before the deadline. In the sector (NACE 47), the median for financial year 2024 was on the deadline day, and 47% of those companies filed late.
Searched, nothing found (1)
Recent changes
Purpose change
Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0412400547
Capital decrease of €304,381.33 to €109,957.87
Capital from €414,339.20 to €109,957.87 · General meeting of 12-06-2024 · Gazette deed
Resignation: Corten, Tim (director)
Corten Henry Germaine holds all the shares · Director discharge: Corten, Tim · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| M.J. Malle | €272,039 | -€19,098 | -50.4% | - |
| Eral Shoes Management Uccle | €313,409 | -€25,195 | 22.1% | - |
| Fashion Point Maasmechelen | €375,911 | -€229,730 | -113.1% | 1.6 |
| VERDONCK WARENHUIS Balen | €305,279 | -€21,281 | 46.4% | - |
| Juluka Oosterzele | €415,722 | -€69,048 | 37.2% | - |
| BURTLINE FASHION Eeklo | €191,206 | -€3,529 | -236.9% | - |
| DANIEL GAY - SCARPE DI MODA Tervuren | €362,151 | -€3,162 | -69.6% | - |
These companies have the same main activity as M.J.: retail sale of clothing and accessories for women, men, children and babies (general range) (NACE 47716). They are comparable in size and age: total assets between €191,000 and €416,000, founded between 1978 and 1992.
Official details
Source: KBO- Status
- Active since 26-04-1972Normal situation
- Activity
- Retail sale of clothing and accessories for women, men, children and babies (general range)NACE 47716and 3 others
- Joint committee
- 201Independent retail · annual accounts 30-09-2024
- Establishment unit
- 2.007.194.7692390 Malle, since 01-01-1900
- Financial year end
- 31 December
- Peppol
- Reachable since 28-04-2025
Insights on M.J.
M.J. files the abbreviated format. That format states no turnover. The gross margin fell from €444,826 in 2009 to -€19,098 in 2025.
In April 2022, the Official Gazette published the appointment of Henry Corten as managing director.
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 0412.400.547. The VAT number is the same number with BE in front: BE 0412.400.547.
- Where is M.J. based?
- The registered office is at Antwerpsesteenweg 474, 2390 Malle.Company details
- What does M.J. do?
- According to the KBO register, the main activity is retail sale of clothing and accessories for women, men, children and babies (general range) (NACE 47716).
- What is the legal form of M.J.?
- M.J. is a public limited company (NV).
- When was M.J. founded?
- M.J. was founded on 26-04-1972.
- 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 3.1 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does M.J. fall under?
- In its 30-09-2024 annual accounts, M.J. states joint committee 201 (Independent retail).
- What is the turnover of M.J.?
- The annual accounts for financial year 2025 state no turnover. The abbreviated format does not require it.
- Is M.J. profitable?
- In financial year 2025, M.J. made a loss of €126,876.
- Where can I find the annual accounts of M.J.?
- M.J. filed 48 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
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