M PROJECT
Open bankruptcyA bankruptcy procedure is open for M PROJECT according to publications in the Belgian State Gazette; curator: LIES DEWAEL.
Summary
The 2023 annual accounts show equity of €18k and a net result of €9k.
Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2023 was due by 31-07-2024 and was filed on 31-07-2024, 0 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
on the day
2022
3 d early
2021
25 d early
2020
24 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2023, micro schema
Equity
€18k▲ 92.2%
2022 · €10k
2020: €62k
2021: €85k
2022: €10k
2020 → 2023
Total assets
€301k▲ 14.0%
2022 · €264k
2020: €273k
2021: €310k
2022: €264k
2020 → 2023
Net result
€9k
2022 · €-75k
2020: €61k
2021: €22k
2022: €-75k
2020 → 2023
Working capital
€1k
2022 · €-20k
2020: €41k
2021: €62k
2022: €-20k
2020 → 2023
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2020202120222023Trend
Equity€62k-€85k▲ 35.9%€10k▼ 88.7%€18k▲ 92.2%
Operating result€73k-€33k▼ 55.1%€-65k€26k
Net result€61k-€22k▼ 63.2%€-75k€9k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2023: €26k after a loss of €65k in 2022.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €301k
Fixed assets
€72k ▼ 9.1%
Current assets
€229k ▲ 23.9%
Equity and liabilities €301k
Equity
€18k ▲ 92.2%
Debt
€282k ▲ 11.1%
Debt's share of the balance-sheet total falls from 96.4% to 93.9%. Equity and debt are higher.
Key figures and ratios
EBITDA
€33k▲
2022 · €-45k
Cash flow
€16k▲
2022 · €-55k
Current ratio
1.01▲
2022 · 0.90
Quick ratio
0.67▲
2022 · 0.60
Debt to equity
15.29▼
2022 · 26.46
ROE
48.0%▲
2022 · -782.3%
ROA
2.9%▲
2022 · -28.5%
Interest coverage
1.77▲
2022 · -4.02
Debt ≤ 1 year
€228k▲
2022 · €205k
Debt > 1 year
€54k▲
2022 · €47k
Staff costs
€792▼
2022 · €39k
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 · 2023 against 2022 · 54 lines
Balance sheet
Code20222023
Assets
Total assets20/58€264k€301k▲
Fixed assets21/28€79k€72k▼
Intangible fixed assets21€7k€5k▼
Tangible fixed assets22/27€63k€67k▲
Plant, machinery and equipment23€44k€40k▼
Furniture and vehicles24€5k€921▼
Other tangible fixed assets26€14k€25k▲
Financial fixed assets28€9k-
Current assets29/58€185k€229k▲
Amounts receivable after more than one year29€30k€30k=
Other amounts receivable291€30k€30k=
Stocks and contracts in progress3€61k€76k▲
Stocks30/36€26k€41k▲
Contracts in progress37€35k€35k=
Amounts receivable within one year40/41€93k€112k▲
Trade receivables40€69k€90k▲
Other amounts receivable41€24k€22k▼
Cash at bank and in hand54/58-€143
Deferred charges and accrued income490/1€710€11k▲
Equity and liabilities
Total equity and liabilities10/49€264k€301k▲
Equity10/15€10k€18k▲
Contributions10/11€2k€2k=
Reserves13€8k€17k▲
Distributable reserves133€8k€17k▲
Amounts payable17/49€254k€282k▲
Amounts payable after more than one year17€47k€54k▲
Financial debts170/4€47k€54k▲
Amounts payable within one year42/48€205k€228k▲
Current portion of amounts payable after more than one year42€47k€59k▲
Financial debts43€35k-
Credit institutions430/8€35k-
Trade debts44€110k€158k▲
Suppliers440/4€110k€158k▲
Taxes, remuneration and social security45€13k€11k▼
Taxes450/3€13k€11k▼
Accrued charges and deferred income492/3€2k€480▼
Income statement
Code20222023
Non-recurring operating income76A€1k€7k▲
Remuneration, social security and pensions62€39k€792▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€21k€8k▼
Other operating charges640/8€3k€2k▼
Non-recurring operating charges66A€3k€3k▲
Gross operating margin9900€-303€39k▲
Operating profit (loss)9901€-65k€26k▲
Financial income75/76B€1k€2k▲
Recurring financial income75€1k€2k▲
Financial charges65/66B€11k€19k▲
Recurring financial charges65€11k€19k▲
Profit (loss) for the period before taxes9903€-75k€9k▲
Profit (loss) for the period9904€-75k€9k▲
Profit (loss) for the period to be appropriated9905€-75k€9k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-75k€9k▲
Transfer from equity791/2€75k-
Transfer to equity691/2-€9k
To other reserves6921-€9k
The notes to these accounts (14 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
12-02
Bankruptcy
Opening
Ondernemingsrechtbank Antwerpen, afdeling Hasselt · M PROJECT BV MASTSTRAAT 1, 3920 LOMMEL · event 06-02-2025
2024
31-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €9k
Net result €9k after one loss-making year.
28-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet €-75k ▼436%
Net result drops to €-75k, the lowest in the series.
06-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
07-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
1 act for this company is 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, Lommel · 2 establishment units since 2019
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Maststraat 13920 LommelGround area
2,588 m²
Building footprint
182 m²
Volume, LiDAR
361 m³
2 parcels, Flanders · tallest building 7.0 m, ±2 floors. Linked by address, not a title deed.
2 establishment units
M PROJECT
since 20192.296.792.130
M PROJECT
since 20202.309.974.034
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 72020C1399/00G011 | Flanders | 1,729 m² | 1 · 80 m² | 7.0 m · 2 fl. |
| 72342A1241/00S032 | Flanders | 859 m² | 1 · 101 m² | - |
Linked by address, not proof of ownership
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.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | LIES DEWAEL ZOUTLEEUWSTRAAT 52, 3404 ATTEN-
HOVEN |
06-02-2025 → present |
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Of 22,821 companies in sector 43211 we hold annual accounts for 10,326. 7,035 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded04-12-2019
Fiscal year end31-12
Activities, NACEBEL 2025
43211General electrical installation work
43320Joinery installation
Sources
Crossroads Bank for EnterprisesNational Bank · 4 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.