M2 ENGINEERING
Dissolution or liquidationFinancials · financial year 2023, micro format
2023 annual accounts filed late (203 days) Filed on 19 February 2025, deadline 31 July 2024 (7 months after the close on 31 December 2023, Companies Code art. 3:10). Source: NBB, 2025-00039607.
Turnover
€54,050▲ 47.5%
2022 · €36,648
EBIT margin
8.7%▲ 36.2pp
2022 · -27.5%
Net result
€3,013
2022 · -€10,527
Working capital
€49,999▼ 55.5%
2022 · €112,414
Trend over the years
2019 to 2023, 5 financial years 2018 to 2023, 6 financial years
The operating result returns to profit in 2023: €4,728 after a loss of €10,075 in 2022.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Turnover€54,050
2023
Operating result€4,728
2023
Net result€3,013
2023
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€126,421
2023
Equity€50,086
2023
Debt€76,335
2023
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€49,999
2023
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
EBIT margin8.7%
2023
Return on assets (ROA)2.4%
2023
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency39.6%
2023
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio1.66
2023
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 41, Construction of residential and non-residential buildings: 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
Line201820192020202120222023
Turnover€113,753-€66,110▼ 41.9%€54,036▼ 18.3%€84,031▲ 55.5%€36,648▼ 56.4%€54,050▲ 47.5%
Operating result€23,521-€13,492▼ 42.6%€4,867▼ 63.9%€6,523▲ 34.0%-€10,075€4,728
Net result€13,543-€264▼ 98.1%-€5,210below the sector's middle half€740within the sector's middle half-€10,527below the sector's middle half€3,013within the sector's middle half
EBIT margin20.7%-20.4%▼ 0.3pp9.0%▼ 11.4pp7.8%▼ 1.2pp-27.5%▼ 35.3pp8.7%▲ 36.2pp
Equity€61,806-€62,070▲ 0.4%€56,860within the sector's middle half▼ 8.4%€57,601within the sector's middle half▲ 1.3%€47,073within the sector's middle half▼ 18.3%€50,086within the sector's middle half▲ 6.4%
Total assets€207,754-€172,127▼ 17.1%€161,457within the sector's middle half▼ 6.2%€130,852within the sector's middle half▼ 19.0%€132,582within the sector's middle half▲ 1.3%€126,421within the sector's middle half▼ 4.6%
Debt€145,949-€110,057▼ 24.6%€104,596▼ 5.0%€73,252▼ 30.0%€85,509▲ 16.7%€76,335▼ 10.7%
Working capital€30,778-€38,690▲ 25.7%€45,666within the sector's middle half▲ 18.0%€56,322within the sector's middle half▲ 23.3%€112,414above the sector's middle half▲ 99.6%€49,999within the sector's middle half▼ 55.5%
Solvency29.7%-36.1%▲ 6.3pp35.2%within the sector's middle half▼ 0.8pp44.0%within the sector's middle half▲ 8.8pp35.5%within the sector's middle half▼ 8.5pp39.6%within the sector's middle half▲ 4.1pp
Current ratio1.21-1.35▲ 0.141.44within the sector's middle half▲ 0.091.77within the sector's middle half▲ 0.336.60above the sector's middle half▲ 4.831.66within the sector's middle half▼ 4.94
Return on assets (ROA)6.5%-0.2%▼ 6.4pp-3.2%below the sector's middle half▼ 3.4pp0.6%within the sector's middle half▲ 3.8pp-7.9%below the sector's middle half▼ 8.5pp2.4%within the sector's middle half▲ 10.3pp
Staff (FTE)1
above
within
below
the middle half of NACE 41, Construction of residential and non-residential buildings: 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.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €126,421
Fixed assets
€87 =
Current assets
€126,334 ▼ 4.6%
Equity and liabilities €126,421
Equity
€50,086 ▲ 6.4%
Debt
€76,335 ▼ 10.7%
Debt's share of the balance-sheet total falls from 64.5% to 60.4%. Equity is higher and debt is lower.
Key figures and ratios
Debt to equity
1.52▼
2022 · 1.82
ROE
6.0%▲
2022 · -22.4%
Debt ≤ 1 year
€76,335▲
2022 · €20,081
Income taxes
€969
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Turnover70 | €113,753 | €66,110 | €54,036 | €84,031 | €36,648 | €54,050 | ▲ 47.5% |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €56,498 | €42,331 | €47,357 | ▲ 11.9% |
| Remuneration, social security and pensions62 | - | - | - | €10,370 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13,280 | €13,012 | €13,424 | €10,003 | €1,192 | - | - |
| Other operating charges640/8 | - | - | - | €3,505 | €3,904 | €1,965 | ▼ 49.7% |
| Gross operating margin9900 | €40,618 | €30,429 | €49,821 | €30,402 | -€4,980 | €6,693 | - |
| Operating profit (loss)9901 | €23,521 | €13,492 | €4,867 | €6,523 | -€10,075 | €4,728 | - |
| Financial income75/76B | - | - | - | €1,222 | - | €1 | - |
| Recurring financial income75 | - | - | - | €1,222 | - | €1 | - |
| Financial charges65/66B | - | - | - | €404 | €452 | €747 | ▲ 65.2% |
| Recurring financial charges65 | €665 | €384 | €302 | €404 | €452 | €747 | ▲ 65.2% |
| Profit (loss) for the period before taxes9903 | €22,856 | €13,108 | €4,566 | €7,341 | -€10,527 | €3,982 | - |
| Income taxes67/77 | €9,313 | €12,844 | €9,775 | €6,600 | - | €969 | - |
| Profit (loss) for the period9904 | €13,543 | €264 | -€5,210 | €740 | -€10,527 | €3,013 | - |
| Profit (loss) for the period to be appropriated9905 | €13,543 | €264 | -€5,210 | €740 | -€10,527 | €3,013 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €207,754 | €172,127 | €161,457 | €130,852 | €132,582 | €126,421 | ▼ 4.6% |
| Fixed assets21/28 | €31,028 | €23,380 | €11,195 | €1,278 | €87 | €87 | = |
| Tangible fixed assets22/27 | €31,028 | €23,380 | €11,195 | €1,192 | - | - | - |
| Furniture and vehicles24 | - | - | - | €1,192 | - | - | - |
| Financial fixed assets28 | - | - | - | €87 | €87 | €87 | = |
| Current assets29/58 | €176,726 | €148,746 | €150,262 | €129,574 | €132,495 | €126,334 | ▼ 4.6% |
| Amounts receivable within one year40/41 | €154,423 | €140,700 | €143,495 | €128,266 | €131,667 | €126,331 | ▼ 4.1% |
| Trade receivables40 | - | - | - | €70,867 | €47,406 | €67,557 | ▲ 42.5% |
| Other amounts receivable41 | - | - | - | €57,400 | €84,261 | €58,775 | ▼ 30.2% |
| Cash at bank and in hand54/58 | €16,289 | €8,046 | €6,767 | €1,308 | €829 | €3 | ▼ 99.7% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €207,754 | €172,127 | €161,457 | €130,852 | €132,582 | €126,421 | ▼ 4.6% |
| Equity10/15 | €61,806 | €62,070 | €56,860 | €57,601 | €47,073 | €50,086 | ▲ 6.4% |
| Contributions10/11 | €12,000 | €12,000 | €12,000 | €12,000 | €12,000 | €12,000 | = |
| Capital10 | - | - | - | €12,000 | €12,000 | - | - |
| Issued capital100 | - | - | - | €18,600 | €18,600 | - | - |
| Uncalled capital101 | - | - | - | €6,600 | €6,600 | - | - |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | = |
| Legal reserve130 | - | - | - | €1,860 | €1,860 | - | - |
| Reserves not available under the articles1311 | - | - | - | - | - | €1,860 | - |
| Profit (loss) carried forward14 | €47,946 | €48,210 | €43,000 | €43,741 | €33,213 | €36,226 | ▲ 9.1% |
| Amounts payable17/49 | €145,949 | €110,057 | €104,596 | €73,252 | €85,509 | €76,335 | ▼ 10.7% |
| Amounts payable within one year42/48 | €145,949 | €110,057 | €104,596 | €73,252 | €20,081 | €76,335 | ▲ 280% |
| Trade debts44 | €144,715 | €105,438 | €94,958 | €65,570 | €20,081 | €1,055 | ▼ 94.7% |
| Suppliers440/4 | - | - | - | €65,570 | €20,081 | €1,055 | ▼ 94.7% |
| Taxes, remuneration and social security45 | - | - | - | €5,636 | - | €7,750 | - |
| Taxes450/3 | - | - | - | €3,547 | - | - | - |
| Remuneration and social security454/9 | - | - | - | €2,089 | - | €7,750 | - |
| Other amounts payable47/48 | - | - | - | €2,045 | - | €67,530 | - |
| Accrued charges and deferred income492/3 | - | - | - | - | €65,428 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €13,543 | €264 | -€5,210 | €740 | -€10,527 | €3,013 | - |
| + Depreciation and write-downs630 | €13,280 | €13,012 | €13,424 | €10,003 | €1,192 | - | - |
| Operating cash flow (approximation) | €26,822 | €13,275 | €8,215 | €10,744 | -€9,336 | €3,013 | - |
| Investment in fixed assets (approximation) | - | -€5,364 | -€1,239 | -€87 | €0 | €0 | - |
| Change in cash | - | -€8,243 | -€1,279 | -€5,459 | -€479 | -€826 | ▼ 72.4% |
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 (10)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2023 | micro format | 19-02-2025 | 2025-00039607 |
| 31-12-2022 | micro format | 04-03-2024 | 2024-00042154 |
| 31-12-2021 | micro format | 31-10-2022 | 2022-20484253 |
| 31-12-2020 | micro format | 23-11-2021 | 2021-78600280 |
| 31-12-2019 | full format | 13-01-2021 | 2021-00900531 |
| 31-12-2018 | full format | 31-10-2019 | 2019-73200331 |
| 31-12-2017 | full format | 28-09-2018 | 2018-66800148 |
| 31-12-2016 | full format | 25-05-2018 | 2018-13900401 |
| 31-12-2015 | full format | 29-08-2016 | 2016-58500072 |
| 31-12-2014 | full format | 31-08-2015 | 2015-55600239 |
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Of the 29,226 active companies whose main activity is general construction of residential buildings (NACE 41001), figures are known for 16,354. 13,347 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.