M-Projects
Open bankruptcyFinancials · financial year 2024, micro format
Equity
€16,821▼ 14.2%
2023 · €19,607
Total assets
€30,471▼ 7.7%
2023 · €33,018
Net result
-€2,786
2023 · €3,541
Working capital
€9,265▲ 24.6%
2023 · €7,435
Trend over the years
2021 to 2024, 4 financial years
The operating result turns negative in 2024: a loss of €1,261 after €4,312 in 2023, the lowest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result-€1,261
2024
Net result-€2,786
2024
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€30,471
2024
Equity€16,821
2024
Debt€13,650
2024
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€9,265
2024
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)-9.1%
2024
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency55.2%
2024
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio1.68
2024
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 68, Real estate activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the financial year before
favourable
unfavourable
Line2021202220232024
Operating result€17,370-€1,603▼ 90.8%€4,312▲ 169%-€1,261
Net result€11,908within the sector's middle half-€158within the sector's middle half▼ 98.7%€3,541within the sector's middle half▲ 22×-€2,786within the sector's middle half
Equity€15,908within the sector's middle half-€16,066within the sector's middle half▲ 1.0%€19,607within the sector's middle half▲ 22.0%€16,821within the sector's middle half▼ 14.2%
Total assets€26,586below the sector's middle half-€29,243below the sector's middle half▲ 10.0%€33,018below the sector's middle half▲ 12.9%€30,471below the sector's middle half▼ 7.7%
Debt€10,678-€13,177▲ 23.4%€13,411▲ 1.8%€13,650▲ 1.8%
Working capital€15,908within the sector's middle half-€12,329within the sector's middle half▼ 22.5%€7,435within the sector's middle half▼ 39.7%€9,265within the sector's middle half▲ 24.6%
Solvency59.8%within the sector's middle half-54.9%within the sector's middle half▼ 4.9pp59.4%within the sector's middle half▲ 4.4pp55.2%within the sector's middle half▼ 4.2pp
Current ratio2.49within the sector's middle half-1.94within the sector's middle half▼ 0.551.55within the sector's middle half▼ 0.381.68within the sector's middle half▲ 0.12
Return on assets (ROA)44.8%above the sector's middle half-0.5%within the sector's middle half▼ 44.2pp10.7%above the sector's middle half▲ 10.2pp-9.1%below the sector's middle half▼ 19.9pp
above
within
below
the middle half of NACE 68, Real estate activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin not published: the micro format does not require them.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €30,471
Fixed assets
€7,557 ▼ 37.9%
Current assets
€22,915 ▲ 9.9%
Equity and liabilities €30,471
Equity
€16,821 ▼ 14.2%
Debt
€13,650 ▲ 1.8%
Debt's share of the balance-sheet total rises from 40.6% to 44.8%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€3,354▼
2023 · €5,877
Cash flow
€1,829▼
2023 · €5,107
Debt to equity
0.81▲
2023 · 0.68
ROE
-16.6%▼
2023 · 18.1%
Interest coverage
2.19▼
2023 · 36.00
Debt ≤ 1 year
€13,650▲
2023 · €13,411
Staff costs
€3,483▼
2023 · €8,359
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €18,789 | €13,529 | €8,359 | €3,483 | ▼ 58.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €109 | €1,565 | €4,615 | ▲ 195% |
| Other operating charges640/8 | €932 | €406 | €782 | €439 | ▼ 43.9% |
| Gross operating margin9900 | €37,091 | €15,646 | €15,018 | €7,275 | ▼ 51.6% |
| Operating profit (loss)9901 | €17,370 | €1,603 | €4,312 | -€1,261 | - |
| Financial income75/76B | €5 | €4 | €500 | €4 | ▼ 99.2% |
| Recurring financial income75 | €5 | €4 | €500 | €4 | ▼ 99.2% |
| Financial charges65/66B | €2,490 | €1,319 | €163 | €1,529 | ▲ 836% |
| Recurring financial charges65 | €2,490 | €1,319 | €163 | €1,529 | ▲ 836% |
| Profit (loss) for the period before taxes9903 | €14,885 | €288 | €4,649 | -€2,786 | - |
| Income taxes67/77 | €2,977 | €130 | €1,107 | - | - |
| Profit (loss) for the period9904 | €11,908 | €158 | €3,541 | -€2,786 | - |
| Profit (loss) for the period to be appropriated9905 | €11,908 | €158 | €3,541 | -€2,786 | - |
| Line | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €26,586 | €29,243 | €33,018 | €30,471 | ▼ 7.7% |
| Fixed assets21/28 | - | €3,737 | €12,172 | €7,557 | ▼ 37.9% |
| Tangible fixed assets22/27 | - | €3,737 | €12,172 | €7,557 | ▼ 37.9% |
| Plant, machinery and equipment23 | - | €3,737 | €2,455 | €1,173 | ▼ 52.2% |
| Furniture and vehicles24 | - | - | €9,717 | €6,384 | ▼ 34.3% |
| Current assets29/58 | €26,586 | €25,506 | €20,846 | €22,915 | ▲ 9.9% |
| Amounts receivable within one year40/41 | €19,186 | €14,707 | €15,272 | €15,753 | ▲ 3.2% |
| Trade receivables40 | €18,900 | €11,279 | €13,500 | €13,710 | ▲ 1.6% |
| Other amounts receivable41 | €286 | €3,429 | €1,772 | €2,043 | ▲ 15.3% |
| Cash at bank and in hand54/58 | €7,401 | €10,799 | €5,574 | €7,162 | ▲ 28.5% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €26,586 | €29,243 | €33,018 | €30,471 | ▼ 7.7% |
| Equity10/15 | €15,908 | €16,066 | €19,607 | €16,821 | ▼ 14.2% |
| Contributions10/11 | €4,000 | €4,000 | €4,000 | €4,000 | = |
| Profit (loss) carried forward14 | €11,908 | €12,066 | €15,607 | €12,821 | ▼ 17.9% |
| Amounts payable17/49 | €10,678 | €13,177 | €13,411 | €13,650 | ▲ 1.8% |
| Amounts payable within one year42/48 | €10,678 | €13,177 | €13,411 | €13,650 | ▲ 1.8% |
| Current portion of amounts payable after more than one year42 | - | €1,000 | €1,000 | €1,000 | = |
| Trade debts44 | - | - | €2,967 | €2,539 | ▼ 14.4% |
| Suppliers440/4 | - | - | €2,967 | €2,539 | ▼ 14.4% |
| Taxes, remuneration and social security45 | €10,678 | €8,555 | €7,084 | €7,193 | ▲ 1.5% |
| Taxes450/3 | €3,033 | €5,716 | €1,308 | €5,048 | ▲ 286% |
| Remuneration and social security454/9 | €7,646 | €2,840 | €5,776 | €2,145 | ▼ 62.9% |
| Other amounts payable47/48 | - | €3,622 | €2,360 | €2,918 | ▲ 23.6% |
| Line | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €11,908 | €158 | €3,541 | -€2,786 | - |
| + Depreciation and write-downs630 | - | €109 | €1,565 | €4,615 | ▲ 195% |
| Operating cash flow (approximation) | €11,908 | €267 | €5,107 | €1,829 | ▼ 64.2% |
| Investment in fixed assets (approximation) | - | - | -€10,000 | €0 | - |
| Change in cash | - | €3,398 | -€5,224 | €1,588 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (4)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2024 | micro format | 23-06-2025 | 2025-00163710 |
| 31-12-2023 | micro format | 11-07-2024 | 2024-00235144 |
| 31-12-2022 | micro format | 30-06-2023 | 2023-00180580 |
| 31-12-2021 | micro format | 23-06-2022 | 2022-20085294 |
Similar companies · same sector, comparable size
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Of the 9,531 active companies whose main activity is development of residential building projects (NACE 68121), figures are known for 7,480. 3,919 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Subsidies and aid
Flemish government
2023 · 1 entry · €500 awarded · €500 paidSchemes
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.