M.ORE
ActiveSummary
The computed 12-month bankruptcy probability of M.ORE is 3.6% (moderate). The 2025 annual accounts show negative equity (-€417,754) and a net result of -€233,439. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 5% of 1042 sector peers (fiscal year 2025). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability0=
Solvency0=
Growth32=
Track record100
Bankruptcy probability, 12 months
3.6%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.28 against 0.58 in 2024; short-term debt: 331.3% and cash: 2% of total assets), and equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
+raises risk○neutral
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
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
-231.5%
Return on assets
-129.4%
Age of the figures
15 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 25
Relative position
BE, all sectors
reference
Manufacture of fabricated metal products, except machinery and equipment (NACE 25)
about 50% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
2122232425
2021 to 2025 · latest year -€417,754
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 30-01-2026, 1 day ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
1 d early
2024
38 d late
2023
29 d late
2022
1 d early
2021
4 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 12 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 35% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today. Usually files around 30 January (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-06-2026 close29-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
-€417,754▼ 127%
2024 · -€184,314
Total assets
€180,447▼ 28.8%
2024 · €253,560
Net result
-€233,439▼ 16.0%
2024 · -€201,292
Working capital
-€430,137▼ 139%
2024 · -€180,192
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 25, Manufacture of fabricated metal products, except machinery and equipment, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€63,401--€42,857€7,851-€199,726-€232,063▼ 16.2%
Net result€50,594within the sector's middle half--€43,248below the sector's middle half€6,231below the sector's middle half-€201,292below the sector's middle half-€233,439below the sector's middle half▼ 16.0%
Equity€55,594below the sector's middle half-€10,747below the sector's middle half▼ 80.7%€16,978below the sector's middle half▲ 58.0%-€184,314below the sector's middle half-€417,754below the sector's middle half▼ 127%
Total assets€258,097below the sector's middle half-€356,147below the sector's middle half▲ 38.0%€293,610below the sector's middle half▼ 17.6%€253,560below the sector's middle half▼ 13.6%€180,447below the sector's middle half▼ 28.8%
Debt€202,502-€345,400▲ 70.6%€276,632▼ 19.9%€437,875▲ 58.3%€598,201▲ 36.6%
Working capital€47,641below the sector's middle half--€5,911below the sector's middle half€3,871below the sector's middle half-€180,192below the sector's middle half-€430,137below the sector's middle half▼ 139%
Solvency21.5%below the sector's middle half-3.0%below the sector's middle half▼ 18.5pp5.8%below the sector's middle half▲ 2.8pp-72.7%below the sector's middle half▼ 78.5pp-231.5%below the sector's middle half▼ 158.8pp
Current ratio1.24within the sector's middle half-0.98below the sector's middle half▼ 0.251.01below the sector's middle half▲ 0.030.58below the sector's middle half▼ 0.440.28below the sector's middle half▼ 0.30
Return on assets (ROA)19.6%above the sector's middle half--12.1%below the sector's middle half▼ 31.7pp2.1%within the sector's middle half▲ 14.3pp-79.4%below the sector's middle half▼ 81.5pp-129.4%below the sector's middle half▼ 50.0pp
Staff (FTE)1below the sector's middle half1below the sector's middle half=2below the sector's middle half▲ 100%4within the sector's middle half▲ 100%
above
within
below
the middle half (P25 to P75) of NACE 25, Manufacture of fabricated metal products, except machinery and equipment, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €232,063 in 2025 against €199,726 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €180,447
Fixed assets
€12,761 ▲ 76.1%
Current assets
€167,686 ▼ 31.9%
Key figures and ratios
EBITDA
-€228,214▼
2024 · -€193,846
Cash flow
-€229,591▼
2024 · -€195,412
Quick ratio
0.17▼
2024 · 0.36
Debt to equity
-1.43▲
2024 · -2.38
Interest coverage
-191.59▼
2024 · -147.24
Debt ≤ 1 year
€597,823▲
2024 · €426,508
Income taxes
€214▼
2024 · €250
Staff costs
€151,516▲
2024 · €104,153
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,010 companies that looked in July 2024 the way this one looks now, 7.9% went bankrupt within 24 months and 83% are still going.
- Micro
- 5 to 10 years old
- negative equity
- a loss of 10% of the balance sheet or more
7.9%
went bankrupt
8.4%
stopped otherwise
83%
still going
A further 0.8% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 3.6% 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 497,338 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% | 1.9% |
| 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 6,010 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €1,492 | - |
| Remuneration, social security and pensions62 | - | €4,469 | €61,288 | €104,153 | €151,516 | ▲ 45.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,179 | €4,599 | €6,305 | €5,880 | €3,848 | ▼ 34.5% |
| Other operating charges640/8 | - | €253 | €518 | €592 | €2,254 | ▲ 280% |
| Gross operating margin9900 | €65,682 | -€33,536 | €75,962 | -€89,101 | -€74,444 | ▲ 16.4% |
| Operating profit (loss)9901 | €63,401 | -€42,857 | €7,851 | -€199,726 | -€232,063 | ▼ 16.2% |
| Financial income75/76B | - | €290 | €73 | - | €29 | - |
| Recurring financial income75 | €92 | €290 | €73 | - | €29 | - |
| Financial charges65/66B | - | €664 | €1,478 | €1,317 | €1,191 | ▼ 9.5% |
| Recurring financial charges65 | €601 | €664 | €1,478 | €1,317 | €1,191 | ▼ 9.5% |
| Profit (loss) for the period before taxes9903 | €62,892 | -€43,231 | €6,446 | -€201,042 | -€233,225 | ▼ 16.0% |
| Income taxes67/77 | €12,298 | €17 | €214 | €250 | €214 | ▼ 14.3% |
| Profit (loss) for the period9904 | €50,594 | -€43,248 | €6,231 | -€201,292 | -€233,439 | ▼ 16.0% |
| Profit (loss) for the period to be appropriated9905 | €50,594 | -€43,248 | €6,231 | -€201,292 | -€233,439 | ▼ 16.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €258,097 | €356,147 | €293,610 | €253,560 | €180,447 | ▼ 28.8% |
| Formation expenses20 | €684 | €0 | - | - | - | - |
| Fixed assets21/28 | €7,269 | €16,658 | €13,124 | €7,245 | €12,761 | ▲ 76.1% |
| Intangible fixed assets21 | €7,269 | €9,402 | €6,714 | €3,653 | €2,162 | ▼ 40.8% |
| Tangible fixed assets22/27 | - | €7,255 | €6,410 | €3,592 | €10,599 | ▲ 195% |
| Plant, machinery and equipment23 | - | €7,255 | €6,410 | €3,592 | €5,099 | ▲ 42.0% |
| Assets under construction and advance payments27 | - | - | - | - | €5,500 | - |
| Current assets29/58 | €250,143 | €339,489 | €280,485 | €246,316 | €167,686 | ▼ 31.9% |
| Stocks and contracts in progress3 | €35,171 | €91,429 | €93,624 | €91,504 | €64,132 | ▼ 29.9% |
| Stocks30/36 | - | €33,700 | €43,739 | €44,322 | €58,632 | ▲ 32.3% |
| Contracts in progress37 | - | €57,729 | €49,885 | €47,181 | €5,500 | ▼ 88.3% |
| Amounts receivable within one year40/41 | €151,993 | €233,573 | €132,460 | €150,245 | €95,399 | ▼ 36.5% |
| Trade receivables40 | - | €213,049 | €132,294 | €150,245 | €95,399 | ▼ 36.5% |
| Other amounts receivable41 | - | €20,524 | €166 | - | - | - |
| Cash at bank and in hand54/58 | €3,464 | €9,096 | €49,297 | €3,532 | €3,571 | ▲ 1.1% |
| Deferred charges and accrued income490/1 | - | €5,392 | €5,104 | €1,035 | €4,584 | ▲ 343% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €258,097 | €356,147 | €293,610 | €253,560 | €180,447 | ▼ 28.8% |
| Equity10/15 | €55,594 | €10,747 | €16,978 | -€184,314 | -€417,754 | ▼ 127% |
| Contributions10/11 | - | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Reserves13 | €50,594 | €48,994 | €48,994 | - | - | - |
| Distributable reserves133 | - | €48,994 | €48,994 | - | - | - |
| Profit (loss) carried forward14 | - | -€43,248 | -€37,017 | -€189,314 | -€422,754 | ▼ 123% |
| Amounts payable17/49 | €202,502 | €345,400 | €276,632 | €437,875 | €598,201 | ▲ 36.6% |
| Amounts payable within one year42/48 | €202,502 | €345,400 | €276,614 | €426,508 | €597,823 | ▲ 40.2% |
| Financial debts43 | - | - | - | - | €3,592 | - |
| Credit institutions430/8 | - | - | - | - | €3,592 | - |
| Trade debts44 | €161,707 | €312,562 | €230,679 | €149,363 | €315,961 | ▲ 112% |
| Suppliers440/4 | - | €312,562 | €230,679 | €149,363 | €315,961 | ▲ 112% |
| Advances received on contracts in progress46 | - | €25,290 | €20,768 | - | - | - |
| Taxes, remuneration and social security45 | - | €5,159 | €18,462 | €29,818 | €37,491 | ▲ 25.7% |
| Taxes450/3 | - | €1,837 | €7,883 | €14,823 | €14,489 | ▼ 2.3% |
| Remuneration and social security454/9 | - | €3,322 | €10,579 | €14,994 | €23,002 | ▲ 53.4% |
| Other amounts payable47/48 | - | €2,389 | €6,705 | €247,327 | €240,778 | ▼ 2.6% |
| Accrued charges and deferred income492/3 | - | - | €18 | €11,367 | €378 | ▼ 96.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €50,594 | -€43,248 | €6,231 | -€201,292 | -€233,439 | ▼ 16.0% |
| + Depreciation and write-downs630 | €2,179 | €4,599 | €6,305 | €5,880 | €3,848 | ▼ 34.5% |
| Operating cash flow (approximation) | €52,774 | -€38,649 | €12,536 | -€195,412 | -€229,591 | ▼ 17.5% |
| Investment in fixed assets (approximation) | - | -€13,987 | -€2,772 | €0 | -€9,365 | - |
| Change in cash | - | €5,632 | €40,201 | -€45,765 | €39 | ▲ 100% |
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
24-07
State Gazette act
Algemene Vergadering - BoekjaarStatutes amendment · Power of attorney · Shareholding6 facts ▸
State Gazette act
Algemene Vergadering - Boekjaar
Statutes amendment · Power of attorney · Shareholding6 facts ▸
- General meeting, 23-06-2026
- Statutes amendment
- Power of attorney, KMG CONSILIUM BV
- Power of attorney, Norgay accountants
- Power of attorney, Coopman & Partners Boekhouding En Fiscaliteit BV
- Shareholding, bestuurder, artikelen 2:8 § 4 en 2:12 van het Wetboek van Vennootschappen en Verenigingen
30-01
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
30-06
Financial
Weakest financial yearnet -€233,439
Net result drops to -€233,439, the lowest in the series.
10-03
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 38 days late
2024
29-02
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 29 days late
2023
30-06
Financial
Back to profitnet €6,231
Net result €6,231 after one loss-making year.
30-01
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
27-01
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 3 acts read
About the unread acts
Of the 3 Belgian State Gazette acts we know for this company, 1 has been read. The other 2 have not 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 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Mechelen · 1 establishment unit since 2020
Ground area
7,030 m²
Building footprint
3,911 m²
Volume, LiDAR
27,129 m³
Parcel 12402A0095/02B000, Flanders · tallest building 8.2 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
M.ORE
since 20202.308.127.668
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12402A0095/02B000 | Flanders | 7,030 m² | 1 · 3,911 m² | 8.2 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.
Articles of association
Financial year
From 1 January to 31 December
Annual meeting
Third Thursday of June at 18:00
Structure & network
Owners and holdings
1 ownerChain of control
- YUNIKON
- M.ORE
Highest known parent: YUNIKON. The sources do not say who stands above it.
Owners 1
- YUNIKONparentSourceaccounts YUNIKON 2025100%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 909 companies in sector 25120 we hold annual accounts for 678. 231 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
Founded21-09-2020
Fiscal year end30-06
Activities, NACEBEL 2025
25120Manufacture of fabricated metal products, except machinery and equipment
25110Manufacture of metal structures and parts of structures
43120Site preparation
43211General electrical installation work
43212Electrical installation work in industrial facilities
46841Wholesale trade
71121Engineering and related technical consultancy, excluding land surveyors
95210Repair and maintenance of computers, personal and household goods, and motor vehicles and motorcycles
E-invoicing
Reachable via Peppol
Peppol ID
0208:0754653862
Also
9925:BE0754653862
Registered
02-07-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.