M & S CONSTRUCT
ActiveM & S CONSTRUCT has been active since 2001 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €60k and a net result of €21k. Equity is growing by ~41.4% per year across the filed fiscal years. Its solvency ranks better than 43% of 7757 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
77
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability85▲+24
Solvency64▼-24
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4.5k at 30 days acceptable
Liquidity ample (current ratio 5.68 against 2.36 in 2024; short-term debt: 17.1% and cash: 31.8% of total assets), but 61.4% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven 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
38.6%
Return on assets
13.2%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 22-07-2026, 9 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
9 d early
2024
232 d late
2023
27 d late
2022
31 d late
2021
30 d late
2020
30 d late
2019
61 d late
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
20-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€60k▲ 52.0%
2024 · €40k
2018: €-29k
2019: €-9k
2020: €26k
2021: €26k
2022: €17k
2023: €44k
2024: €40k
2018 → 2025
Total assets
€156k▲ 149%
2024 · €63k
2018: €20k
2019: €44k
2020: €78k
2021: €87k
2022: €75k
2023: €103k
2024: €63k
2018 → 2025
Net result
€21k
2024 · €-4k
2018: €7k
2019: €8k
2020: €35k
2021: €503
2022: €2k
2023: €27k
2024: €-4k
2018 → 2025
Working capital
€124k▲ 296%
2024 · €31k
2018: €-29k
2019: €11k
2020: €50k
2021: €52k
2022: €49k
2023: €67k
2024: €31k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€26k-€17k▼ 35.5%€44k▲ 157%€40k▼ 9.2%€60k▲ 52.0%
Operating result€3k-€3k▲ 2.3%€37k▲ 1,089%€-2k€27k
Net result€503-€2k▲ 229%€27k▲ 1,510%€-4k€21k
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €27k after a loss of €2k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €156k
Fixed assets
€5k▼ 40.4%
Current assets
€151k▲ 177%
Equity and liabilities €156k
Equity
€60k▲ 52.0%
Debt
€96k▲ 314%
The debt ratio rises from 36.8% to 61.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€34k▲
2024 · €7k
Cash flow
€27k▲
2024 · €5k
Solvency
38.6%▼
2024 · 63.2%
Current ratio
5.68▲
2024 · 2.36
Quick ratio
5.45▲
2024 · 2.09
Debt / equity
1.59▲
2024 · 0.58
ROE
34.2%▲
2024 · -10.1%
ROA
13.2%▲
2024 · -6.4%
Interest coverage
98.24▲
2024 · 47.05
Debt
€96k▲
2024 · €23k
Debt ≤ 1 year
€27k▲
2024 · €23k
Income taxes
€6k▲
2024 · €2k
Staff costs
€2k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€63k€156k▲
Fixed assets21/28€8k€5k▼
Tangible fixed assets22/27€8k€5k▼
Plant, machinery and equipment23€700€58▼
Furniture and vehicles24€7k€5k▼
Financial fixed assets28€124-
Current assets29/58€54k€151k▲
Stocks and contracts in progress3€6k€6k=
Stocks30/36€6k€6k=
Amounts receivable within one year40/41€37k€95k▲
Trade receivables40€20k€67k▲
Other amounts receivable41€17k€28k▲
Cash at bank and in hand54/58€11k€50k▲
Deferred charges and accrued income490/1€249€249=
Equity and liabilities
Total equity and liabilities10/49€63k€156k▲
Equity10/15€40k€60k▲
Contributions10/11€19k€19k=
Capital10€19k-
Issued capital100€19k-
Outside capital11-€19k
Share premium1100/10-€19k
Reserves13€2k€2k=
Non-distributable reserves130/1€2k€2k=
Legal reserve130€2k-
Reserves not available under the articles1311-€2k
Profit (loss) carried forward14€19k€39k▲
Amounts payable17/49€23k€96k▲
Amounts payable within one year42/48€23k€27k▲
Financial debts43€11k€11k=
Credit institutions430/8€11k€11k=
Trade debts44€7k€5k▼
Suppliers440/4€7k€5k▼
Taxes, remuneration and social security45€6k€10k▲
Taxes450/3€6k€10k▲
Remuneration and social security454/9-€450
Accrued charges and deferred income492/3-€69k
Income statement
Code20242025
Remuneration, social security and pensions62-€2k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€9k€6k▼
Other operating charges640/8€808€375▼
Gross operating margin9900€7k€35k▲
Operating profit (loss)9901€-2k€27k▲
Financial income75/76B€200-
Recurring financial income75€200-
Financial charges65/66B€141€341▲
Recurring financial charges65€141€341▲
Profit (loss) for the period before taxes9903€-2k€27k▲
Income taxes67/77€2k€6k▲
Profit (loss) for the period9904€-4k€21k▲
Profit (loss) for the period to be appropriated9905€-4k€21k▲
Appropriation of the result
Profit (loss) to be appropriated9906€19k€39k▲
Profit (loss) brought forward from the previous period14P€23k€19k▼
The notes to these accounts (5 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
20-08
State Gazette act
Purpose · Legal-form change · Resignations & appointmentsGeneral meeting · Statutes amendment · Purpose change9 facts ▸
State Gazette act
Purpose · Legal-form change · Resignations & appointments
General meeting · Statutes amendment · Purpose change9 facts ▸
- General meeting, 2026-08-18
- Statutes amendment
- Purpose change, Modification de l'objet social pour le remplacer par les activités de menuiserie-charpenterie, ébénisterie, vitrerie, peinture, toiture, etc.
- Reserve release, 20900, Conversion du capital libéré (19.000 EUR) et de la réserve légale (1.900 EUR) en compte de capitaux propres statutairement indisponible, puis suppression…
- Capital, €19.000
- Director resignation, Antoine PIESSEVAUX (gérant unique)
- Director discharge, Antoine PIESSEVAUX
- Director appointment, Antoine PIESSEVAUX (administrateur non statutaire)
- Mandate compensation, Antoine PIESSEVAUX
22-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
20-03
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 232 days late
2025
31-12
Financial
Back to profitnet €21k
Net result €21k after one loss-making year.
31-12
Financial
Liquidity doublescurrent ratio 5.68
Current ratio from 2.36 to 5.68.
2024
31-12
Financial
Weakest financial yearnet €-4k ▼115%
Net result drops to €-4k, the lowest in the series; recovery starts the following year.
27-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 27 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
2020
31-12
Financial
Highest result since 2018net €35k ▲329%
Net result €35k, the highest in the series.
31-12
Financial
Liquidity triplescurrent ratio 5.04
Current ratio from 1.83 to 5.04; short-term debt falls from €13k to €12k.
30-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 61 days late
2019
31-12
Financial
Liquidity quadruplescurrent ratio 1.83
Current ratio from 0.41 to 1.83; short-term debt falls from €49k to €13k.
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 29 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 31 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
1 director, no change since 2026
Antoine PIESSEVAUX
CurrentAdministrateur non statutaire · since 18-08-2026
18-08-2026
Appointed as Administrateur non statutaire
18-08-2026
Resigned as Gérant unique
Location & real-estate footprint
Registered office, Walhain · 1 establishment unit since 2002
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.
Place Saint-Vincent(NSV) 71457 WalhainGround area
716 m²
Building footprint
108 m²
Volume, LiDAR
708 m³
Parcel 25071C0764/00L000, Wallonia · tallest building 9.2 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
M & S CONSTRUCT SPRL
since 20022.094.762.510
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25071C0764/00L000 | Wallonia | 716 m² | 1 · 108 m² | 9.2 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 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
BELRAAM GROUP
BE 0647.989.890
Brecht · Eq €60k
NE-Projects
BE 0775.664.260
Nijlen · Eq €60k
ARDA CONSTRUCTION
BE 0798.566.950
Genk · Eq €60k
Pleisterwerken Ronny Peeters
BE 0761.352.406
Laakdal · Eq €60k
VAN den BORRE-COOREMAN
BE 0880.812.062
Aalst · Eq €60k
Of 4,013 companies in sector 43310 we hold annual accounts for 1,745. 1,525 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded27-11-2001
Fiscal year end31-12
Activities, NACEBEL
43310Plastering work
43320Joinery installation
Sources
Crossroads Bank for EnterprisesNational Bank · 24 filingsAddress and cadastre registers
Data from official sources, last processed on 19-09-2026. Scores and ratios are computed by Checked and are not a credit decision.