M-Project
ActiveSummary
M-Project has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €82k and a net result of €59k. Equity remains stable across the filed fiscal years (±1.8% per year). Its solvency ranks better than 21% of 27786 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
57
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability86▼-8
Solvency44▼-43
Growth58=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4.5k at 30 days acceptable
Liquidity short (current ratio 0.56 against 2.34 in 2024; short-term debt: 76% of total assets), and 81.1% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Sector 43
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
18.9%
Return on assets
13.5%
Age of the figures
15 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 21% of 27786 sector peers (2025).
NBB · sector comparisonPosition among 27786 sector peers
Solvency
better than 21%
← weakest
strongest →
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 29-01-2026, 2 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
2 d early
2024
1 d early
2023
2 d early
2022
21 d late
2021
28 d late
2020
26 d late
2019
27 d late
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
30-06-2026 close24-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€82k▼ 2.4%
2024 · €84k
2019: €90k
2020: €93k
2021: €89k
2022: €85k
2023: €88k
2024: €84k
2019 → 2025
Total assets
€435k▲ 218%
2024 · €137k
2019: €101k
2020: €105k
2021: €114k
2022: €118k
2023: €121k
2024: €137k
2019 → 2025
Net result
€59k▲ 110%
2024 · €28k
2019: €678
2020: €3k
2021: €-4k
2022: €-4k
2023: €3k
2024: €28k
2019 → 2025
Working capital
€-147k
2024 · €70k
2019: €90k
2020: €93k
2021: €87k
2022: €84k
2023: €80k
2024: €70k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€89k-€85k▼ 4.3%€88k▲ 3.9%€84k▼ 4.9%€82k▼ 2.4%
Operating result€-3k-€-3k▲ 14.2%€5k€28k▲ 520%€88k▲ 211%
Net result€-4k-€-4k▼ 5.6%€3k€28k▲ 735%€59k▲ 110%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2025 is 211% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €435k
Fixed assets
€251k ▲ 1,719%
Current assets
€184k ▲ 49.6%
Equity and liabilities €435k
Equity
€82k ▼ 2.4%
Debt
€353k ▲ 573%
Debt's share of the balance-sheet total rises from 38.4% to 81.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€96k▲
2024 · €30k
Cash flow
€66k▲
2024 · €30k
Current ratio
0.56▼
2024 · 2.34
Debt to equity
4.29▲
2024 · 0.62
ROE
71.5%▲
2024 · 33.2%
ROA
13.5%▼
2024 · 20.5%
Interest coverage
50.92▼
2024 · 61.70
Debt ≤ 1 year
€330k▲
2024 · €52k
Debt > 1 year
€7k
Income taxes
€28k
Staff costs
€39k▲
2024 · €6k
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 · 2025 against 2024 · 53 lines
Balance sheet
Code20242025
Assets
Total assets20/58€137k€435k▲
Fixed assets21/28€14k€251k▲
Tangible fixed assets22/27€8k€247k▲
Land and buildings22-€212k
Plant, machinery and equipment23€3k€13k▲
Furniture and vehicles24€2k€20k▲
Other tangible fixed assets26€3k€3k▼
Financial fixed assets28€6k€4k▼
Current assets29/58€123k€184k▲
Amounts receivable within one year40/41€114k€182k▲
Trade receivables40€108k€137k▲
Other amounts receivable41€6k€45k▲
Cash at bank and in hand54/58€7k-
Deferred charges and accrued income490/1€2k€1k▼
Equity and liabilities
Total equity and liabilities10/49€137k€435k▲
Equity10/15€84k€82k▼
Contributions10/11€6k€6k=
Reserves13€7k€7k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Tax-exempt reserves132€5k€5k=
Profit (loss) carried forward14€71k€69k▼
Amounts payable17/49€52k€353k▲
Amounts payable after more than one year17-€7k
Financial debts170/4-€7k
Amounts payable within one year42/48€52k€330k▲
Current portion of amounts payable after more than one year42-€6k
Financial debts43-€14k
Credit institutions430/8-€14k
Trade debts44€35k€261k▲
Suppliers440/4€35k€261k▲
Taxes, remuneration and social security45€18k€46k▲
Taxes450/3€10k€41k▲
Remuneration and social security454/9€8k€5k▼
Other amounts payable47/48-€3k
Accrued charges and deferred income492/3-€15k
Income statement
Code20242025
Remuneration, social security and pensions62€6k€39k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2k€7k▲
Other operating charges640/8-€901
Gross operating margin9900€36k€136k▲
Operating profit (loss)9901€28k€88k▲
Financial income75/76B€24€19▼
Recurring financial income75€24€19▼
Financial charges65/66B€487€2k▲
Recurring financial charges65€487€2k▲
Profit (loss) for the period before taxes9903€28k€86k▲
Income taxes67/77-€28k
Profit (loss) for the period9904€28k€59k▲
Profit (loss) for the period to be appropriated9905€28k€59k▲
Appropriation of the result
Profit (loss) to be appropriated9906€103k€130k▲
Profit (loss) brought forward from the previous period14P€75k€71k▼
Profit to be distributed694/7€32k€61k▲
Return on contributions (dividend)694€32k€61k▲
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
29-01
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-06
Financial
Highest result since 2019net €59k ▲110%
Operating result €88k, net result €59k, both a record.
30-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
29-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-06
Financial
Back to profitnet €3k
Net result €3k after 2 loss-making years.
21-02
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 21 days late
2022
30-06
Financial
Weakest financial yearnet €-4k
Net result drops to €-4k, the lowest in the series; recovery starts the following year.
28-02
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 28 days late
2021
26-02
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 26 days late
2020
27-02
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 27 days late
2019
27-02
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 27 days late
2018
28-02
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 28 days late
2017
28-02
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 28 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
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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 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Asse · 1 establishment unit since 2010
Ground area
6,140 m²
Building footprint
3,330 m²
Volume, LiDAR
25,682 m³
Parcel 23053B0228/00E002, Flanders · tallest building 9.9 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
L.S.DAKEN/TOITURE
since 20102.189.456.779
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23053B0228/00E002indicative | Flanders | 6,140 m² | 1 · 3,330 m² | 9.9 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
0 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
FIDUCIA
BE 0474.568.441
Montigny-le-Tilleul · Eq €82,138
DEL ENTREPRISE
BE 0835.785.949
Dinant · Eq €82,102
Toiture Thomas Kersten
BE 0754.924.274
Aywaille · Eq €81,999
Nick Jansen
BE 1003.349.687
Rijkevorsel · Eq €81,963
TOITURE BARDIAU
BE 0834.287.595
Les Bons Villers · Eq €82,333
Of 8,561 companies in sector 43410 we hold annual accounts for 4,357. 3,792 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
Founded26-04-2010
Fiscal year end30-06
Trade name NL
L.S. Toiture
Activities, NACEBEL 2025
43410Roofing work
43421Specialised construction activities
Sources
Crossroads Bank for EnterprisesNational Bank · 15 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.
Contact details
2 entriesE-mail:info@m-project.group
Phone:026150689