M-Projects
ActiveSummary
M-Projects has been active since 2009 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €234,396 and a net result of -€17,585. Equity has been growing by about 17% per year since 2018. Its solvency ranks better than 14% of 34,902 sector peers (NACE 43, financial year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Overview
Official details
Source: KBO- Status
- Active since 05-11-2009 Normal situation
- Activity
- General electrical installation work NACE 43211
- Establishment unit
- 2.183.602.830 3020 Herent, since 18-11-2009
- Financial year end
- 31 December
- Peppol
- Reachable since 14-11-2025
Board and ownership
Board
- VANLAER MattiasDirector · since 09-11-2009
- Holdings
- Shares in 3 companies including MAS Projects and Carnegie Projects
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.5%
Annual accounts 2025
- Gross margin
- €43,182
- ▼ 51.0%
- Turnover
- ≈ €200,000
- estimated
- Loss
- €17,585
- Equity
- €234,396
- ▼ 9.7%
- Total assets
- €2.2m
- ▲ 250%
- 2025 accounts filed 61 days after the deadline
Filed on 30-09-2026
Score breakdownraises riskLast filed accounts filed 61 days late; 2 of the last 3 accounts lateSector: Specialised construction activities (NACE 43)Equity €234,396 (10.6% of total assets)lowers riskSize: total assets €2.2mShow the evidence
Checked score
Score 2025
78
/ 100
Excellent
Probability in this band: under 0.55%
Financially stronger than 12% of small companies in specialised construction (NACE 43)
Financial strength · tick: 2024
Weak
Solvency
36-30
equity 10.6% of total assets
Liquidity
18-66
short-term debt 82.9% · cash 10.8%
Profitability
31-31
return on assets -0.8%
Bankruptcy probability within 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
About 5 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.1%
01-2025: 0.1%● unchanged vs 12-2024
02-2025: 0.1%● unchanged vs 01-2025lowest value
03-2025: 0.1%● unchanged vs 02-2025
04-2025: 0.1%● unchanged vs 03-2025
05-2025: 0.1%● unchanged vs 04-2025
06-2025: 0.1%● unchanged vs 05-2025
07-2025: 0.1%● unchanged vs 06-2025
08-2025: 0.2%▲ +0.1 percentage points vs 07-2025
09-2025: 0.3%▲ +0.1 percentage points vs 08-2025
10-2025: 0.1%▼ -0.2 percentage points vs 09-2025
11-2025: 0.1%● unchanged vs 10-2025
12-2025: 0.1%● unchanged vs 11-2025
01-2026: 0.1%● unchanged vs 12-2025
02-2026: 0.2%▲ +0.1 percentage points vs 01-2026
03-2026: 0.2%● unchanged vs 02-2026
04-2026: 0.2%● unchanged vs 03-2026
05-2026: 0.2%● unchanged vs 04-2026
06-2026: 0.2%● unchanged vs 05-2026
07-2026: 0.2%● unchanged vs 06-2026
08-2026: 0.3%▲ +0.1 percentage points vs 07-2026
09-2026: 0.4%▲ +0.1 percentage points vs 08-2026
10-2026: 0.5%▲ +0.1 percentage points vs 09-2026highest value
11-2026: 0.5%● unchanged vs 10-2026highest value
Credit of up to €18,000 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.03 (1.64 in 2024), below the usual 1.5. Short-term debt is 82.9% and cash 10.8% of total assets. 89.4% of the assets are financed with debt and provisions.
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 43, small). It does better than 11% of them on solvency, 9% on liquidity, 12% on profitability and 17% on growth.
The bankruptcy probability was computed on 01-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises risk
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 14% of 34902 sector peers (2025).
NBB · sector comparisonPosition among 34902 sector peers
Solvency
better than 14%
← weakest
strongest →
raises risk · 2025 accounts filed 61 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-09-2026, 61 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filingsDeviation from the deadline
2025
61 days late
2024
35 days late
2023
51 days early
2022
22 days late
2021
44 days early
2020
47 days early
2019
23 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 7 days before the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 22 August (4 of the last 5 accounts filed within 66 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
02-11-2026 today31-12-2026 year end31-07-2027 deadline
Key points
- Caution: Lower net result than 91% of companies in specialised constructionsector median €10,227 · 34,889 companies -€17,585 View
Recent changes
- · Gazette deed Founder · Incorporation
- · Gazette deed Founder · Other provision
- · Gazette deed Incorporation · Founding capital
Companies linked to M-Projects
Comparable companies
These companies have the same main activity as M-Projects: general electrical installation work (NACE 43211). They are comparable in size and age: total assets between €1.5m and €2.1m, founded between 2002 and 2012.
| Company | Total assets | Gross margin |
|---|---|---|
| M-Projects Herent | €2.2m | €0.04m |
| TL CONSTRUCT Glabbeek | €2.0m | €0.04m |
| LEDEA LIGHT Sint-Joost-ten-Node | €1.7m | €0.04m |
| IRiSC Halen | €1.6m | €0.04m |
| ECO6 Clavier | €1.9m | €0.03m |
| BRUMACOM Schoten | €2.1m | €0.07m |
| Experts in Healthy Houses Herzele | €1.5m | €0.03m |
Key facts about M-Projects
- What is the company number of M-Projects?
- The company number of M-Projects is 0820.562.392. The VAT number is the same number with BE in front: BE 0820.562.392.
- Where is M-Projects based?
- The registered office is at Lenneke Mare 8, 3020 Herent.Company details
- What does M-Projects do?
- According to the KBO register, the main activity is general electrical installation work (NACE 43211).
- What is the legal form of M-Projects?
- The legal form of M-Projects is Private limited company (BV).
- When was M-Projects founded?
- M-Projects was founded on 05-11-2009.
- Is M-Projects still active?
- Yes, M-Projects is an active enterprise in the KBO register.
- What is the turnover of M-Projects?
- The turnover in financial year 2025 is ≈ €200,000. This figure is estimated from the gross margin of €43,182 and 45 comparable companies (NACE 43211). It probably lies between €140,000 and €310,000.Financials
- Is M-Projects profitable?
- In financial year 2025, M-Projects made a loss of €17,585.
- Where can I find the annual accounts of M-Projects?
- M-Projects filed 16 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of M-Projects due?
- M-Projects must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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