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Complete company report
Generated 16-08-2026
Active BE 0681.446.675Private limited companyOpen bankruptcy

M & M Elektro

· 8 yrs active
Sector: Bouw van water- en gasdistributienetten (42211)
Conclusion Checked

A bankruptcy procedure is open for M & M Elektro according to publications in the Belgian State Gazette. The file additionally contains 1 administrative flag. The 2023 annual accounts show equity of €397k and a net result of €135k.

Based on the State Gazette, CBE and 2 annual accounts.
Key figures
Equity €397k
Net result €135k
Staff (FTE) 1.1
Better than sector 59%
Financial profile 5 of 5 axes measured · computed by Checked
Health24Profitability100Solvency80Growth78Stability0
56 / 100

Mixed profile: strong on profitability, weaker on stability.

All 5 axes are computed from data Checked has read.

Health 24
Profitability 100
Solvency 80
Growth 78
Stability 0
Bankruptcy probability (12 mo) Checked model v1 · free

Bankruptcy opened

A bankruptcy procedure is already open, a probability score is no longer meaningful. See the insolvency timeline for the state of the procedure.

Risk Assessment rule-based
53 / 100
High riskRegister: open bankruptcy
This score counts publications in the Belgian State Gazette only. The KBO register additionally records legal situation 050 for this company; it does not feed the figure above.
Components
· Open bankruptcy (+50)
· 1 administrative flag (+3)
Trust signals 2 signals
Register: open bankruptcy
The KBO register records legal situation 050 for this company. This is today's state according to the register itself; the register carries no start date.
Open bankruptcy
Active bankruptcy procedure in the Belgisch Staatsblad. Claims are handled by the appointed curator.
Administrative Flags1 events
Address struck
Health barometer FY 2023 · computed
24 / 100 Critical
050100
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.

See plans →
Computed by Checked from the NBB filing for FY 2023 and an insolvency signal from the Belgian State Gazette. Indicative, not credit advice.
Financial overview6 NBB filings
Annual accounts filed on 29-10-2024 with the NBB · fiscal year 2023 · verkort
€0€50k€100k€150kOperating result 2022: €93k€93kNet result 2022: €66k€66kOperating result 2023: €148k€148kNet result 2023: €135k€135k20222023
Operating resultNet result
Sector comparison
Fiscal year 2023 · NACE 42 · compared within the same schema type (abbreviated schema)
Metric This company Sector median Position in the sector
Solvency 45.3% 38.1%
better than 59% of 68 sector peers
Net result €135k €34k
better than 81% of 68 sector peers
Equity €397k €138k
better than 69% of 68 sector peers
Gross operating margin €235k €349k
better than 45% of 68 sector peers
Staff costs €40k €386k
higher than 5% of 42 sector peers
Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.
EBITDA
€190k
+42.7% 22-23
Net profit
€135k
+105.2% 22-23
Cash flow
€177k
+66.6% 22-23
Total assets
€876k
+67.1% 22-23
Equity
€397k
+51.6% 22-23
Working capital
€238k
+26.2% 22-23
Employees (FTE)
1
-8.3% 22-23
Staff costs
€40k
-22.9% 22-23
Show 11 other metrics
Income taxes
€6k
-69.5% 22-23
Debt
€479k
+82.7% 22-23
Debt ≤ 1y
€432k
+135.2% 22-23
Debt > 1y
€47k
-39.9% 22-23
Current ratio
1.55
-23.5% 22-23
Quick ratio
1.55
-23.5% 22-23
Solvency
45.3%
-9.3% 22-23
Debt / equity
1.21
+20.6% 22-23
ROE
34.0%
+35.4% 22-23
ROA
15.4%
+22.7% 22-23
Interest coverage
29.56
+25.8% 22-23
Figures by fiscal year
Fiscal year2023
Depositverkort
Revenue-
EBITDA€190k
Net profit€135k
Cash flow€177k
Staff costs€40k
Income taxes€6k
Dividends-
Total assets€876k
Equity€397k
Debt€479k
of which ≤ 1y€432k
of which > 1y€47k
Working capital€238k
Employees (FTE)1.1
Ratios (computed)
2023
Current ratio1.55
Quick ratio1.55
Working capital ratio27.1%
Solvency45.3%
Debt / equity1.21
Long-term debt ratio0.12
Interest coverage29.56
Gross margin-
Net margin-
ROA15.4%
ROE34.0%
EBITDA margin-
Days sales outstanding-
Days payable outstanding177d
Inventory turnover-
Days inventory (DSI)-
Balance-sheet composition 2023
Full annual accounts (22 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
Line item Code2023
Balance sheet, Assets
TOTAL ASSETS 20/58€876k
Fixed assets 21/28€207k
Tangible fixed assets 22/27€201k
Financial fixed assets 28€6k
Current assets 29/58€669k
Amounts receivable within one year 40/41€351k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES 10/49€876k
Equity 10/15€397k
Contributions / capital 10/11€7k
Reserves 13€2k
Accumulated profits (losses) 14€389k
Amounts payable 17/49€479k
Amounts payable after one year 17€47k
Amounts payable within one year 42/48€432k
Trade debts payable within one year 44€376k
Income statement
Gross operating margin 9900€235k
Operating result 9901€148k
Financial charges 65€6k
Result before taxes 9903€142k
Income taxes 67/77€6k
Net result for the period 9904€135k
Result to be appropriated 9905€135k
This table shows the latest fiscal year. 1 prior year, with figures and ratios, belongs to a paid plan. See plans →
Ratios computed by Checked.
Directors & mandates 2 directors
Current directors & mandates
  • Tonoglu Hasan
    Director
    State Gazette act 24134034 (16-09-2024)
    Current
    01-07-2024 → present
Former directors (1)
  • Delibalta Mustafa
    Director
    State Gazette act 24134034 (16-09-2024)
    Former
    - → 01-07-2024
Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.This list is read straight from this company's published acts, not from the officer register.
Directors & mandates2 persons
Role Name Tenure Source
Curator ANN NOE
PAALSESTEENWEG 131, 3583 05 BERINGEN- PAAL
 16-01-2025 → present Belgian State Gazette
Curator BERT VANDENREYT
PAALSE- STEENWEG 131, 3583 05 BERINGEN-PAAL-
 16-01-2025 → present Belgian State Gazette
Legal Structure
NACE primary Bouw van water- en gasdistributienetten(42211)
Legal form Private limited company(610)
Incorporation15-09-2017
StatusActive
Postal code-
First BS signal 22-01-2025
Latest BS signal 22-01-2025
Establishment units 1 location
Musa Garage
Krijgsbaan 247, 9140 TemseBouw van water- en gasdistributienetten
since 20172.268.727.555
Physical sites registered in the Crossroads Bank for Enterprises (CBE).
Real-estate footprint Source: CBE × cadastre

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Flanders 2 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
46302D1262/00V002 Flanders 7,626 m² 1 · 3,667 m² -
71025A0073/00R089 Flanders 361 m² 1 · 220 m² 10.1 m · 1 fl.
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.
Updates 12 events

A single timeline of everything that happened to this company, publications, insolvency and lifecycle events, administrative changes and filed annual accounts.

2025
22-01-2025
Bankruptcy Opening
Ondernemingsrechtbank Antwerpen, afdeling Hasselt · M & M ELEKTRO BV LINDE- LAAN 55 K8, 3550 HEUSDEN-ZOLDER · event 16-01-2025
17-01-2025
KBO administration Address struck
2024
29-10-2024
NBB filing Annual accounts filed
fiscal year 2023 · verkort
16-09-2024
State Gazette act Capital & shares
2023
29-09-2023
NBB filing Annual accounts filed
fiscal year 2022 · verkort
21-09-2023
State Gazette act Registered-office change
2022
17-10-2022
NBB filing Annual accounts filed
fiscal year 2021 · micro
28-06-2022
State Gazette act Registered-office change
2021
31-08-2021
NBB filing Annual accounts filed
fiscal year 2020 · verkort
2020
24-08-2020
NBB filing Annual accounts filed
fiscal year 2019 · verkort
2019
18-11-2019
NBB filing Annual accounts filed
fiscal year 2018 · verkort
Lifecycle & Insolvency Signals2 events
22-01-2025
Bankruptcy Opening
Date: 16-01-2025 · Ondernemingsrechtbank Antwerpen, afdeling Hasselt · M & M ELEKTRO BV LINDE- LAAN 55 K8, 3550 HEUSDEN-ZOLDER · Publications in State Gazette ↗
Full insolvency chronology

The full chronology lists every recorded event with its date, the competent court and the appointed liquidator or administrator. It answers at which stage the proceedings stand and whether they are still running.

We hold 1 further earlier event in this file, covering 16-01-2025 to 17-01-2025.

Available in Kantoor S. See plans →
Time machine, BS events + macro context 2021, 2026
COVID lockdownEnergiecrisisECB hikes2021202220232024202520262025-01-17 · KBO administration · Address struck2025-01-22 · Bankruptcy · Opening
Macro context
2020-Q2/Q3 COVID lockdown
2022 energy crisis
2023-2024 ECB rate hikes
Legend
Bankruptcy
Interim / reorg
KBO event
Belgian State Gazette reading coverage 0 of 7 acts read

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.

Belgisch Staatsblad, acts 3 acts
Capital history · 1
16-09-2024
Capital change
Address history · 2
21-09-2023
Registered-office move
28-06-2022
Registered-office move
All acts · 3 updated 1 year ago
2024
16-09-2024 All shares are now held by a single shareholder Capital & shares
Technical details 
{
  "events": [
    {
      "kind": "share_transfer",
      "after_eur": null,
      "delta_eur": null,
      "before_eur": null,
      "subscribers": [
        {
          "kbo": null,
          "rrn": null,
          "kind": "person",
          "name": "Delibalta Mustafa",
          "share_class": null,
          "liberation_pct": null,
          "contribution_kind": null,
          "n_shares_subscribed": 50,
          "contribution_amount_eur": null
        },
        {
          "kbo": null,
          "rrn": null,
          "kind": "person",
          "name": "Tonoglu Hasan",
          "share_class": null,
          "liberation_pct": null,
          "contribution_kind": null,
          "n_shares_subscribed": 50,
          "contribution_amount_eur": null
        }
      ],
      "decrease_purpose": null,
      "contribution_type": null,
      "paid_up_delta_eur": null,
      "n_shares_destroyed": null,
      "not_yet_called_eur": null,
      "merger_new_shares_n": null,
      "merger_exchange_ratio": null,
      "distribution_amount_eur": null,
      "statutory_unavailable_equity_op": null
    },
    {
      "kind": "eenhoofdigheid_declaration",
      "after_eur": null,
      "delta_eur": null,
      "before_eur": null,
      "decrease_purpose": null,
      "contribution_type": null,
      "paid_up_delta_eur": null,
      "n_shares_destroyed": null,
      "not_yet_called_eur": null,
      "merger_new_shares_n": null,
      "merger_exchange_ratio": null,
      "distribution_amount_eur": null,
      "statutory_unavailable_equity_op": null
    }
  ],
  "notary": {
    "name": null,
    "firm_city": null,
    "firm_name": null,
    "office_city": null,
    "is_associated": false
  },
  "act_meta": {
    "language": "nl",
    "pub_date": null,
    "filing_date": "2024-09-05",
    "act_kind_objet": "Onderwerp akte:"
  },
  "decision": {
    "body": "algemene_vergadering",
    "act_date": "2024-07-01",
    "unanimous": null,
    "under_authorized_capital": false,
    "underlying_resolution_date": "2024-07-01"
  },
  "bedrijfsrevisor": null,
  "subject_company": {
    "kbo": "0681.446.675",
    "name_full": "M \u0026 M Elektro",
    "legal_form": "B.V.",
    "is_foreign_registered": false
  },
  "publication_proxy": {
    "kind": "none",
    "org_kbo": null,
    "org_name": null,
    "person_name": null,
    "org_rep_person_name": null,
    "person_role_at_subject": null
  },
  "co_filed_documents": [],
  "shareholders_after": [
    {
      "kbo": null,
      "pct": null,
      "kind": "person",
      "name": "Delibalta Mustafa",
      "role": "aandeelhouder",
      "n_shares": 0,
      "share_class": null
    },
    {
      "kbo": null,
      "pct": null,
      "kind": "person",
      "name": "Tonoglu Hasan",
      "role": "aandeelhouder",
      "n_shares": 50,
      "share_class": null
    }
  ],
  "share_classes_after": []
}
2023
21-09-2023 Registered office moved within Temse Registered-office change
  • Nijverheidstraat 3, 9140 Temse → Krijgsbaan 247 B5, 9140 Temse
Technical details 
{
  "events": [
    {
      "kind": "zetel_transfer",
      "seat_type": "siege_social",
      "new_address": {
        "raw": "Krijgsbaan 247 B5, 9140 Temse",
        "city": "Temse",
        "region": "vlaams_gewest",
        "street": "Krijgsbaan",
        "country": "BE",
        "postcode": "9140",
        "box_number": "B5",
        "street_number": "247",
        "locality_suffix": null
      },
      "old_address": {
        "raw": "Nijverheidstraat 3, 9140 Temse",
        "city": "Temse",
        "region": "vlaams_gewest",
        "street": "Nijverheidstraat",
        "country": "BE",
        "postcode": "9140",
        "box_number": null,
        "street_number": "3",
        "locality_suffix": null
      },
      "effective_date": "2023-09-12",
      "evidence_quote": "",
      "region_changed": false,
      "is_statute_change": true,
      "nationality_change": false,
      "old_address_source": "header_volledig_adres",
      "statute_clause_text": null,
      "statute_article_number": null,
      "effective_date_qualifier": "absolute",
      "statutaire_vs_werkelijke": "statutaire",
      "linguistic_region_changed": false,
      "court_jurisdiction_changed": false,
      "effective_date_is_approximate": false
    }
  ],
  "notary": {
    "name": null,
    "firm_city": null,
    "firm_name": null,
    "office_city": null,
    "is_associated": false
  },
  "act_meta": {
    "language": "nl",
    "pub_date": "2023-09-21",
    "filing_date": "2023-09-12",
    "act_kind_objet": "Onderwerp akte:"
  },
  "decision": {
    "body": "algemene_vergadering",
    "date": "2023-08-23",
    "unanimous": null
  },
  "subject_company": {
    "kbo": "0681.446.675",
    "name_full": "M\u0026M Elektro",
    "legal_form": "BV",
    "_kbo_filled_from_list": true
  },
  "publication_proxy": {
    "kind": "person",
    "org_kbo": null,
    "org_name": null,
    "person_name": "Delibalta Mustafa",
    "org_rep_person_name": null,
    "person_role_at_subject": "Bestuurder"
  },
  "co_filed_documents": []
}
2022
28-06-2022 Registered office moved from Antwerpen to Temse Registered-office change
  • Lange Lozanastraat 142 bus 1, 2018 Antwerpen → Nijverheidstraat 3, 9140 Temse
Technical details 
{
  "events": [
    {
      "kind": "zetel_transfer",
      "seat_type": "siege_social",
      "new_address": {
        "raw": "Nijverheidstraat 3, 9140 Temse",
        "city": "Temse",
        "region": "vlaams_gewest",
        "street": "Nijverheidstraat",
        "country": "BE",
        "postcode": "9140",
        "box_number": null,
        "street_number": "3",
        "locality_suffix": null
      },
      "old_address": {
        "raw": "Lange Lozanastraat 142 bus 1, 2018 Antwerpen",
        "city": "Antwerpen",
        "region": "vlaams_gewest",
        "street": "Lange Lozanastraat",
        "country": "BE",
        "postcode": "2018",
        "box_number": "1",
        "street_number": "142",
        "locality_suffix": null
      },
      "effective_date": "2022-06-01",
      "evidence_quote": "",
      "region_changed": false,
      "is_statute_change": true,
      "nationality_change": false,
      "old_address_source": "header_volledig_adres",
      "statute_clause_text": null,
      "statute_article_number": null,
      "effective_date_qualifier": "absolute",
      "statutaire_vs_werkelijke": "statutaire",
      "linguistic_region_changed": false,
      "court_jurisdiction_changed": false,
      "effective_date_is_approximate": false
    }
  ],
  "notary": {
    "name": null,
    "firm_city": null,
    "firm_name": null,
    "office_city": null,
    "is_associated": false
  },
  "act_meta": {
    "language": "nl",
    "pub_date": null,
    "filing_date": "2022-06-14",
    "act_kind_objet": "Onderwerp akte:"
  },
  "decision": {
    "body": "algemene_vergadering",
    "date": "2022-06-14",
    "unanimous": null
  },
  "subject_company": {
    "kbo": "0681.446.675",
    "name_full": "M\u0026M Elektro",
    "legal_form": "BV",
    "_kbo_filled_from_list": true
  },
  "publication_proxy": {
    "kind": "org",
    "org_kbo": null,
    "org_name": null,
    "person_name": null,
    "org_rep_person_name": null,
    "person_role_at_subject": null
  },
  "co_filed_documents": [
    "kopie na neerlegging van de akte ter griffie"
  ]
}
Credit advice verdict per customer and amount

May this customer buy amount X on invoice? Enter the amount and the payment term. This page computes a GREEN, AMBER or RED verdict from them, with a suggested ceiling and concrete conditions.

Based on official sources (NBB, CBE, State Gazette). Indicative, not credit advice.
Company registry (CBE) Crossroads Bank
Activities
Bouw van water- en gasdistributienetten42211Bouw van water- en gasdistributienetten42211Bouw van rioleringen42212Bouw van rioleringen42212Bouw van civieltechnische werken voor vloeistoffen, n.e.g.42219Bouw van civieltechnische werken voor vloeistoffen, neg42219Bouw van civieltechnische werken voor elektriciteit en telecommunicatie42220Bouw van civieltechnische werken voor elektriciteit en telecommunicatie42220Overige werkzaamheden in verband met de afwerking van gebouwen43350Overige werkzaamheden in verband met de afwerking van gebouwen43390Detailhandel in auto's en lichte bestelwagens (= 3,5 ton)45113Algemeen onderhoud en reparatie van auto's en lichte bestelwagens (= 3,5 ton)45201Detailhandel in auto's en lichte bestelwagens (<= 3,5 ton)47811Algemeen onderhoud en reparatie van auto's en lichte bestelwagens (<= 3,5 ton)95311
Primary activity highlighted.
Names & trade names
Legal nameNL M & M Elektro
Registration history
  1. 17-01-2025 Address struck
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.
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Source: Belgian State Gazette, CBE, NBB · generated via checked.be · indicative