MAGI CONSTRUCT
ActiveSummary
MAGI CONSTRUCT has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €208,361 and a net result of €8,492. Equity is growing by ~29.4% per year across the filed fiscal years. Its solvency ranks better than 33% of 1040 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability37▼-40
Solvency57▲+13
Growth52=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €11,000 at 30 days acceptable
Liquidity tight (current ratio 1.49 against 1.13 in 2024; short-term debt: 66.6% and cash: 17.6% of total assets), and 68.3% 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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 25
Relative position
BE, all sectors
reference
Manufacture of fabricated metal products, except machinery and equipment (NACE 25)
about 50% more bankruptcies
← 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
31.7%
Return on assets
1.3%
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 13-01-2026, 18 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
18 d early
2024
7 d early
2023
on the day
2022
on the day
2021
on the day
2020
26 d late
2019
26 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 4 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 35% 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.
Companies Code · seven monthsPosition in the running window
30-06-2026 close27-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€208,361▲ 4.2%
2024 · €199,869
Total assets
€656,654▼ 37.8%
2024 · €1.1m
Net result
€8,492▼ 88.4%
2024 · €73,368
Working capital
€215,948▲ 95.3%
2024 · €110,573
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€156,056▲ 22.6%€362,313▲ 132%€628,173▲ 73.4%€107,653▼ 82.9%€26,506▼ 75.4%
Net result€99,816▼ 11.5%€335,587▲ 236%€584,452▲ 74.2%€73,368▼ 87.4%€8,492▼ 88.4%
Equity€116,462▲ 600%€117,049▲ 0.5%€126,501▲ 8.1%€199,869▲ 58.0%€208,361▲ 4.2%
Total assets€711,303▲ 49.4%€815,166▲ 14.6%€978,614▲ 20.1%€1.1m▲ 7.8%€656,654▼ 37.8%
Debt€594,840▲ 29.5%€698,117▲ 17.4%€852,113▲ 22.1%€855,169▲ 0.4%€448,293▼ 47.6%
Working capital€41,856€101,508▲ 143%€119,899▲ 18.1%€110,573▼ 7.8%€215,948▲ 95.3%
Staff (FTE)6.9▲ 9.5%7.6▲ 10.1%6.8▼ 10.5%5.8▼ 14.7%5.9▲ 1.7%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Why a figure moved sharply
- 2024 Net result -87% on 2023. Cause not known from the registers.
- 2023 Net result +74% on 2022. Cause not known from the registers.
- 2022 Net result +236% on 2021. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 75% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €656,654
Fixed assets
€3,357 ▼ 96.2%
Current assets
€653,297 ▼ 32.4%
Equity and liabilities €656,654
Equity
€208,361 ▲ 4.2%
Debt
€448,293 ▼ 47.6%
Debt's share of the balance-sheet total falls from 81.1% to 68.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€31,463▼
2024 · €115,417
Cash flow
€13,449▼
2024 · €81,132
Current ratio
1.49▲
2024 · 1.13
Quick ratio
1.22▲
2024 · 1.05
Debt to equity
2.15▼
2024 · 4.28
ROE
4.1%▼
2024 · 36.7%
ROA
1.3%▼
2024 · 7.0%
Interest coverage
2.01▼
2024 · 9.22
Debt ≤ 1 year
€437,349▼
2024 · €855,169
Income taxes
€5,809▼
2024 · €22,843
Staff costs
€307,399▲
2024 · €281,823
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 10,891 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
0.6%
went bankrupt
4.0%
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 bankruptcy probability of 0.6% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 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% | 1.6% |
| 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 74% 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 10,891 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €391,746 | €408,995 | €281,823 | €307,399 | ▲ 9.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €44,038 | €17,281 | €9,643 | €7,764 | €4,957 | ▼ 36.2% |
| Other operating charges640/8 | - | €7,544 | €7,418 | €16,384 | €13,924 | ▼ 15.0% |
| Gross operating margin9900 | €517,185 | €778,885 | €1.1m | €413,624 | €352,786 | ▼ 14.7% |
| Operating profit (loss)9901 | €156,056 | €362,313 | €628,173 | €107,653 | €26,506 | ▼ 75.4% |
| Financial income75/76B | - | €772 | €1,309 | €1,079 | €3,440 | ▲ 219% |
| Recurring financial income75 | €423 | €772 | €1,309 | €1,079 | €3,440 | ▲ 219% |
| Financial charges65/66B | - | €23,517 | €36,194 | €12,521 | €15,645 | ▲ 25.0% |
| Recurring financial charges65 | €20,974 | €23,517 | €36,194 | €12,521 | €15,645 | ▲ 25.0% |
| Profit (loss) for the period before taxes9903 | €135,504 | €339,568 | €593,288 | €96,210 | €14,301 | ▼ 85.1% |
| Income taxes67/77 | €35,688 | €3,981 | €8,836 | €22,843 | €5,809 | ▼ 74.6% |
| Profit (loss) for the period9904 | €99,816 | €335,587 | €584,452 | €73,368 | €8,492 | ▼ 88.4% |
| Profit (loss) for the period to be appropriated9905 | €99,816 | €335,587 | €584,452 | €73,368 | €8,492 | ▼ 88.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €711,303 | €815,166 | €978,614 | €1.1m | €656,654 | ▼ 37.8% |
| Fixed assets21/28 | €74,607 | €15,541 | €6,603 | €89,296 | €3,357 | ▼ 96.2% |
| Tangible fixed assets22/27 | €74,607 | €15,541 | €6,603 | €89,296 | €3,357 | ▼ 96.2% |
| Plant, machinery and equipment23 | - | €14,262 | €6,603 | €88,515 | €2,743 | ▼ 96.9% |
| Furniture and vehicles24 | - | €1,279 | €0 | - | - | - |
| Other tangible fixed assets26 | - | - | - | €781 | €614 | ▼ 21.3% |
| Current assets29/58 | €636,696 | €799,625 | €972,012 | €965,742 | €653,297 | ▼ 32.4% |
| Stocks and contracts in progress3 | €91,824 | €32,448 | €32,448 | €69,750 | €120,000 | ▲ 72.0% |
| Stocks30/36 | - | €32,448 | €32,448 | €69,750 | €120,000 | ▲ 72.0% |
| Amounts receivable within one year40/41 | €310,553 | €724,225 | €819,193 | €765,966 | €411,317 | ▼ 46.3% |
| Trade receivables40 | - | €562,597 | €242,320 | €326,437 | €389,656 | ▲ 19.4% |
| Other amounts receivable41 | - | €161,628 | €576,872 | €439,529 | €21,661 | ▼ 95.1% |
| Cash at bank and in hand54/58 | €228,341 | €35,461 | €114,319 | €126,697 | €115,762 | ▼ 8.6% |
| Deferred charges and accrued income490/1 | - | €7,492 | €6,052 | €3,329 | €6,218 | ▲ 86.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €711,303 | €815,166 | €978,614 | €1.1m | €656,654 | ▼ 37.8% |
| Equity10/15 | €116,462 | €117,049 | €126,501 | €199,869 | €208,361 | ▲ 4.2% |
| Contributions10/11 | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €110,262 | €110,849 | €120,301 | €193,669 | €202,161 | ▲ 4.4% |
| Distributable reserves133 | - | €110,849 | €120,301 | €193,669 | €202,161 | ▲ 4.4% |
| Profit (loss) carried forward14 | - | €0 | €0 | €0 | - | - |
| Amounts payable17/49 | €594,840 | €698,117 | €852,113 | €855,169 | €448,293 | ▼ 47.6% |
| Amounts payable within one year42/48 | €594,840 | €698,117 | €852,113 | €855,169 | €437,349 | ▼ 48.9% |
| Current portion of amounts payable after more than one year42 | - | €0 | - | - | - | - |
| Trade debts44 | €251,634 | €214,363 | €181,236 | €193,136 | €243,157 | ▲ 25.9% |
| Suppliers440/4 | - | €214,363 | €181,236 | €193,136 | €243,157 | ▲ 25.9% |
| Taxes, remuneration and social security45 | - | €118,467 | €67,695 | €55,239 | €100,877 | ▲ 82.6% |
| Taxes450/3 | - | €59,561 | €40,497 | €14,466 | €59,154 | ▲ 309% |
| Remuneration and social security454/9 | - | €58,905 | €27,198 | €40,773 | €41,723 | ▲ 2.3% |
| Other amounts payable47/48 | - | €365,288 | €603,182 | €606,794 | €93,315 | ▼ 84.6% |
| Accrued charges and deferred income492/3 | - | - | - | - | €10,944 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €99,816 | €335,587 | €584,452 | €73,368 | €8,492 | ▼ 88.4% |
| + Depreciation and write-downs630 | €44,038 | €17,281 | €9,643 | €7,764 | €4,957 | ▼ 36.2% |
| Operating cash flow (approximation) | €143,854 | €352,868 | €594,095 | €81,132 | €13,449 | ▼ 83.4% |
| Investment in fixed assets (approximation) | - | €41,784 | -€705 | -€90,458 | €80,982 | ▲ 190% |
| Change in cash | - | -€192,881 | €78,859 | €12,378 | -€10,935 | ▼ 188% |
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
13-01
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
30-06
Financial
Weakest financial yearnet €8,492 ▼88.4%
Net result drops to €8,492, the lowest in the series.
30-06
Financial
Equity above €200,000Eq €208,361 ▲4.2%
7 profitable years in a row build equity to €208,361.
24-01
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
30-06
Financial
Equity above €150,000Eq €199,869 ▲58%
6 profitable years in a row build equity to €199,869.
31-01
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-06
Financial
Highest result since 2019net €584,452 ▲74.2%
Operating result €628,173, net result €584,452, both a record.
31-01
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-01
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-06
Financial
Equity above €100,000Eq €116,462 ▲600%
3 profitable years in a row build equity to €116,462.
26-02
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 26 days late
2020
26-02
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 26 days late
Show earlier events
2019
31-01
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
12-01
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
13-01
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Torhout · 1 establishment unit since 2014
Ground area
3,067 m²
Building footprint
1,222 m²
Parcel 31523E0487/00D000, Flanders. Linked by address, not a title deed.
1 establishment unit
Ringaertstraat 12, 8820 Torhout
since 20142.238.575.403
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31523E0487/00D000 | Flanders | 3,066 m² | 1 · 1,222 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.
Structure & network
Owners and holdings
1 ownerChain of control
- MAGI
- MAGI CONSTRUCT
Highest known parent: MAGI. The sources do not say who stands above it.
Owners 1
- MAGIparentSourceaccounts MAGI 2025100%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Public money · subsidies and aid
Flemish government
2024 · 1 entry · 99 EUR awarded · 99 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 99 EUR | 99 EUR |
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Of 3,462 companies in sector 25530 we hold annual accounts for 1,655. 1,342 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
Founded29-01-2009
Fiscal year end30-06
Activities, NACEBEL 2025
25110Manufacture of metal structures and parts of structures
25530Machining of metals
E-invoicing
Reachable via Peppol
Peppol ID
0208:0809523101
Also
9925:BE0809523101
Registered
08-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.