M-STONE
ActiveSummary
The computed 12-month bankruptcy probability of M-STONE is 1.9% (moderate). The 2025 annual accounts show equity of €161,336 and a net result of €21,059. Equity is growing by ~6.3% per year across the filed fiscal years. Its solvency ranks better than 80% of 28254 sector peers (fiscal year 2025). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability81▲+14
Solvency100▲+3
Growth52▲+20
Track record100
Bankruptcy probability, 12 months
1.9%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €12,000 at 30 days acceptable
Liquidity ample (current ratio 3.91 against 3.6 in 2024; short-term debt: 21.6% and cash: 72.2% of total assets), and 24.8% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
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
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
75.2%
Return on assets
9.8%
Age of the figures
15 mo
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 28-01-2026, 3 days ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2025
3 d early
2024
42 d early
2023
41 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 3 accounts on average 29 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
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. Usually files around 21 December (3 of the last 3 filed years within 38 days of that day).
Companies Code · seven monthsPosition in the running window
30-06-2026 close28-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€161,336▲ 15.0%
2024 · €140,277
Total assets
€214,662▲ 10.0%
2024 · €195,063
Net result
€21,059
2024 · -€2,893
Working capital
€135,360▲ 26.9%
2024 · €106,703
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line202320242025
Operating result€58,111--€1,633€30,552
Net result€42,107above the sector's middle half--€2,893below the sector's middle half€21,059within the sector's middle half
Equity€143,170above the sector's middle half-€140,277above the sector's middle half▼ 2.0%€161,336above the sector's middle half▲ 15.0%
Total assets€213,373within the sector's middle half-€195,063within the sector's middle half▼ 8.6%€214,662within the sector's middle half▲ 10.0%
Debt€70,204-€54,786▼ 22.0%€53,326▼ 2.7%
Working capital€96,250above the sector's middle half-€106,703above the sector's middle half▲ 10.9%€135,360above the sector's middle half▲ 26.9%
Solvency67.1%within the sector's middle half-71.9%above the sector's middle half▲ 4.8pp75.2%above the sector's middle half▲ 3.2pp
Current ratio2.94within the sector's middle half-3.60above the sector's middle half▲ 0.663.91above the sector's middle half▲ 0.31
Return on assets (ROA)19.7%above the sector's middle half--1.5%below the sector's middle half▼ 21.2pp9.8%within the sector's middle half▲ 11.3pp
Staff (FTE)1.7-2▲ 17.6%2=
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
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 2025: €30,552 after a loss of €1,633 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €214,662
Fixed assets
€32,859 ▼ 30.7%
Current assets
€181,803 ▲ 23.1%
Equity and liabilities €214,662
Equity
€161,336 ▲ 15.0%
Debt
€53,326 ▼ 2.7%
Debt's share of the balance-sheet total falls from 28.1% to 24.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€49,178▲
2024 · €16,562
Cash flow
€39,686▲
2024 · €15,302
Quick ratio
3.84▲
2024 · 3.52
Debt to equity
0.33▼
2024 · 0.39
ROE
13.1%▲
2024 · -2.1%
Interest coverage
68.61▲
2024 · 17.41
Debt ≤ 1 year
€46,442▲
2024 · €40,966
Debt > 1 year
€6,740▼
2024 · €11,942
Income taxes
€8,786▲
2024 · €309
Staff costs
€105,176▲
2024 · €94,269
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,970 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.5%
went bankrupt
3.4%
stopped otherwise
95%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 1.9% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 26,970 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Remuneration, social security and pensions62 | €71,377 | €94,269 | €105,176 | ▲ 11.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €16,662 | €18,195 | €18,627 | ▲ 2.4% |
| Other operating charges640/8 | €1,159 | €41,941 | €441 | ▼ 98.9% |
| Non-recurring operating charges66A | - | €1,269 | - | - |
| Gross operating margin9900 | €147,309 | €154,041 | €154,796 | ▲ 0.5% |
| Operating profit (loss)9901 | €58,111 | -€1,633 | €30,552 | ▲ 1,971% |
| Financial income75/76B | €51 | €1 | €10 | ▲ 1,236% |
| Recurring financial income75 | €51 | €1 | €10 | ▲ 1,236% |
| Financial charges65/66B | €863 | €951 | €717 | ▼ 24.7% |
| Recurring financial charges65 | €863 | €951 | €717 | ▼ 24.7% |
| Profit (loss) for the period before taxes9903 | €57,299 | -€2,584 | €29,845 | ▲ 1,255% |
| Income taxes67/77 | €15,192 | €309 | €8,786 | ▲ 2,744% |
| Profit (loss) for the period9904 | €42,107 | -€2,893 | €21,059 | ▲ 828% |
| Profit (loss) for the period to be appropriated9905 | €42,107 | -€2,893 | €21,059 | ▲ 828% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €213,373 | €195,063 | €214,662 | ▲ 10.0% |
| Fixed assets21/28 | €67,626 | €47,395 | €32,859 | ▼ 30.7% |
| Tangible fixed assets22/27 | €67,461 | €47,230 | €32,694 | ▼ 30.8% |
| Plant, machinery and equipment23 | €14,463 | €11,004 | €10,472 | ▼ 4.8% |
| Furniture and vehicles24 | €21,580 | €13,811 | €8,810 | ▼ 36.2% |
| Leasing and similar rights25 | €31,417 | €22,415 | €13,412 | ▼ 40.2% |
| Financial fixed assets28 | €165 | €165 | €165 | = |
| Current assets29/58 | €145,747 | €147,669 | €181,803 | ▲ 23.1% |
| Stocks and contracts in progress3 | - | €3,500 | €3,505 | ▲ 0.1% |
| Stocks30/36 | - | €3,500 | €3,505 | ▲ 0.1% |
| Amounts receivable within one year40/41 | €24,803 | €48,195 | €23,344 | ▼ 51.6% |
| Trade receivables40 | €24,803 | €33,504 | €22,130 | ▼ 33.9% |
| Other amounts receivable41 | - | €14,691 | €1,214 | ▼ 91.7% |
| Cash at bank and in hand54/58 | €120,342 | €95,974 | €154,954 | ▲ 61.5% |
| Deferred charges and accrued income490/1 | €602 | - | - | - |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €213,373 | €195,063 | €214,662 | ▲ 10.0% |
| Equity10/15 | €143,170 | €140,277 | €161,336 | ▲ 15.0% |
| Contributions10/11 | €1,000 | €1,000 | €1,000 | = |
| Reserves13 | €142,170 | €142,170 | €160,336 | ▲ 12.8% |
| Distributable reserves133 | €142,170 | €142,170 | €160,336 | ▲ 12.8% |
| Profit (loss) carried forward14 | - | -€2,893 | - | - |
| Amounts payable17/49 | €70,204 | €54,786 | €53,326 | ▼ 2.7% |
| Amounts payable after more than one year17 | €20,706 | €11,942 | €6,740 | ▼ 43.6% |
| Financial debts170/4 | €20,706 | €11,942 | €6,740 | ▼ 43.6% |
| Amounts payable within one year42/48 | €49,497 | €40,966 | €46,442 | ▲ 13.4% |
| Current portion of amounts payable after more than one year42 | €8,876 | €9,095 | €5,203 | ▼ 42.8% |
| Trade debts44 | €6,616 | €4,874 | €7,626 | ▲ 56.5% |
| Suppliers440/4 | €6,616 | €4,874 | €7,626 | ▲ 56.5% |
| Taxes, remuneration and social security45 | €22,777 | €5,330 | €4,632 | ▼ 13.1% |
| Taxes450/3 | €17,795 | €1,422 | €546 | ▼ 61.6% |
| Remuneration and social security454/9 | €4,981 | €3,907 | €4,087 | ▲ 4.6% |
| Other amounts payable47/48 | €11,229 | €21,666 | €28,981 | ▲ 33.8% |
| Accrued charges and deferred income492/3 | - | €1,878 | €144 | ▼ 92.3% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €42,107 | -€2,893 | €21,059 | ▲ 828% |
| + Depreciation and write-downs630 | €16,662 | €18,195 | €18,627 | ▲ 2.4% |
| Operating cash flow (approximation) | €58,769 | €15,302 | €39,686 | ▲ 159% |
| Investment in fixed assets (approximation) | - | €2,036 | -€4,091 | ▼ 301% |
| Change in cash | - | -€24,368 | €58,980 | ▲ 342% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
28-01
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-06
Financial
Back to profitnet €21,059
Net result €21,059 after one loss-making year.
30-06
Financial
Equity above €150,000Eq €161,336 ▲15%
Equity rises from €140,277 to €161,336.
2024
20-12
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
30-06
Financial
Weakest financial yearnet -€2,893
Net result drops to -€2,893, the lowest in the series; recovery starts the following year.
2023
21-12
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 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, Denderleeuw · 1 establishment unit since 2019
Ground area
575 m²
Building footprint
116 m²
Parcel 41076B0571/00G000, Flanders. Linked by address, not a title deed.
1 establishment unit
M-STONE
since 20192.292.136.922
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41076B0571/00G000 | Flanders | 575 m² | 1 · 116 m² | - |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 3,960 companies in sector 43331 we hold annual accounts for 1,788. 1,473 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded07-08-2019
Fiscal year end30-06
Activities, NACEBEL 2025
43331Floor and wall tiling
23700Cutting, shaping and finishing of stone
47523Retail trade
E-invoicing
Reachable via Peppol
Peppol ID
0208:0731940125
Also
9925:BE0731940125
Registered
16-08-2024
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.