MB Concept
ActiveSummary
The computed 12-month bankruptcy probability of MB Concept is 1.8% (moderate). The 2025 annual accounts show equity of €76,981 and a net result of €19,511. Equity is growing by ~24.9% per year across the filed fiscal years. Its solvency ranks better than 83% of 28254 sector peers (fiscal year 2025). The company has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability94▲+23
Solvency100▲+11
Growth54=
Track record100
Bankruptcy probability, 12 months
1.8%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €5,000 at 30 days acceptable
Liquidity ample (current ratio 4.42 against 2.72 in 2024; short-term debt: 21.7% and cash: 7.3% of total assets), and 21.7% of the assets are financed with debt.
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Signals
Five 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
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
78.3%
Return on assets
19.8%
Age of the figures
9 mo
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
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 6 filingsDeviation from the deadline
2025
31 d late
2024
26 d late
2023
33 d late
2022
68 d late
2021
73 d late
2019
57 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 48 days after 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 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 3 September (4 of the last 5 filed years within 34 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
€396,481▼ 15.8%
2022 · €470,694
EBIT margin
4.4%▲ 1.0pp
2022 · 3.4%
Net result
€19,511▲ 87.7%
2024 · €10,393
Working capital
€73,040▲ 29.4%
2024 · €56,438
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
Line20212022202320242025
Turnover€491,413-€470,694▼ 4.2%€396,481▼ 15.8%
Operating result€9,936-€16,193▲ 63.0%€17,464▲ 7.8%€14,514▼ 16.9%€25,599▲ 76.4%
Net result€6,463within the sector's middle half-€11,026within the sector's middle half▲ 70.6%€10,032within the sector's middle half▼ 9.0%€10,393within the sector's middle half▲ 3.6%€19,511within the sector's middle half▲ 87.7%
EBIT margin2.0%-3.4%▲ 1.4pp4.4%▲ 1.0pp
Equity€26,018within the sector's middle half-€37,045within the sector's middle half▲ 42.4%€47,076within the sector's middle half▲ 27.1%€57,470within the sector's middle half▲ 22.1%€76,981within the sector's middle half▲ 34.0%
Total assets€85,389within the sector's middle half-€61,663below the sector's middle half▼ 27.8%€70,475within the sector's middle half▲ 14.3%€90,293within the sector's middle half▲ 28.1%€98,350within the sector's middle half▲ 8.9%
Debt€59,371-€24,619▼ 58.5%€23,398▼ 5.0%€32,823▲ 40.3%€21,369▼ 34.9%
Working capital€22,542within the sector's middle half-€35,094within the sector's middle half▲ 55.7%€44,116within the sector's middle half▲ 25.7%€56,438within the sector's middle half▲ 27.9%€73,040within the sector's middle half▲ 29.4%
Solvency30.5%within the sector's middle half-60.1%within the sector's middle half▲ 29.6pp66.8%within the sector's middle half▲ 6.7pp63.6%within the sector's middle half▼ 3.2pp78.3%above the sector's middle half▲ 14.6pp
Current ratio1.38within the sector's middle half-2.43within the sector's middle half▲ 1.052.89within the sector's middle half▲ 0.462.72within the sector's middle half▼ 0.174.42above the sector's middle half▲ 1.70
Return on assets (ROA)7.6%within the sector's middle half-17.9%above the sector's middle half▲ 10.3pp14.2%within the sector's middle half▼ 3.6pp11.5%within the sector's middle half▼ 2.7pp19.8%above the sector's middle half▲ 8.3pp
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 recovers in 2025; 2025 is 76% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €98,350
Fixed assets
€3,941 ▲ 282%
Current assets
€94,409 ▲ 5.8%
Equity and liabilities €98,350
Equity
€76,981 ▲ 34.0%
Debt
€21,369 ▼ 34.9%
Debt's share of the balance-sheet total falls from 36.4% to 21.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€27,169▲
2024 · €16,442
Cash flow
€21,082▲
2024 · €12,322
Quick ratio
4.33▲
2024 · 2.53
Debt to equity
0.28▼
2024 · 0.57
ROE
25.3%▲
2024 · 18.1%
Interest coverage
9.47▲
2024 · 4.56
Debt ≤ 1 year
€21,369▼
2024 · €32,823
Income taxes
€8,004▲
2024 · €5,103
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 bankruptcy probability of 1.8% 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 497,662 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €491,413 | €470,694 | €396,481 | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | €487,432 | €462,973 | €381,444 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €756 | €1,526 | €1,772 | €1,929 | €1,571 | ▼ 18.5% |
| Other operating charges640/8 | €1,096 | €1,366 | €6,451 | €2,303 | €1,951 | ▼ 15.3% |
| Gross operating margin9900 | €11,789 | €19,085 | €25,687 | €18,745 | €29,120 | ▲ 55.3% |
| Operating profit (loss)9901 | €9,936 | €16,193 | €17,464 | €14,514 | €25,599 | ▲ 76.4% |
| Financial income75/76B | €99 | €918 | €1,610 | €4,587 | €4,787 | ▲ 4.4% |
| Recurring financial income75 | €99 | €918 | €1,610 | €4,587 | €4,787 | ▲ 4.4% |
| Financial charges65/66B | €976 | €1,566 | €4,118 | €3,604 | €2,870 | ▼ 20.4% |
| Recurring financial charges65 | €976 | €1,566 | €4,118 | €3,604 | €2,870 | ▼ 20.4% |
| Profit (loss) for the period before taxes9903 | €9,059 | €15,545 | €14,956 | €15,496 | €27,516 | ▲ 77.6% |
| Income taxes67/77 | €2,596 | €4,519 | €4,924 | €5,103 | €8,004 | ▲ 56.8% |
| Profit (loss) for the period9904 | €6,463 | €11,026 | €10,032 | €10,393 | €19,511 | ▲ 87.7% |
| Profit (loss) for the period to be appropriated9905 | €6,463 | €11,026 | €10,032 | €10,393 | €19,511 | ▲ 87.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €85,389 | €61,663 | €70,475 | €90,293 | €98,350 | ▲ 8.9% |
| Fixed assets21/28 | €3,476 | €1,951 | €2,960 | €1,032 | €3,941 | ▲ 282% |
| Tangible fixed assets22/27 | €3,476 | €1,951 | €2,960 | €1,032 | €3,941 | ▲ 282% |
| Plant, machinery and equipment23 | €359 | - | - | - | - | - |
| Furniture and vehicles24 | €3,117 | €1,951 | €2,960 | €1,032 | €3,941 | ▲ 282% |
| Current assets29/58 | €81,913 | €59,713 | €67,514 | €89,261 | €94,409 | ▲ 5.8% |
| Stocks and contracts in progress3 | €12,383 | €989 | €3,071 | €6,179 | €1,874 | ▼ 69.7% |
| Contracts in progress37 | €12,383 | €989 | €3,071 | €6,179 | €1,874 | ▼ 69.7% |
| Amounts receivable within one year40/41 | €34,415 | €47,599 | €62,764 | €80,878 | €83,416 | ▲ 3.1% |
| Trade receivables40 | €29,691 | €24,471 | €171 | - | - | - |
| Other amounts receivable41 | €4,724 | €23,128 | €62,593 | €80,878 | €83,416 | ▲ 3.1% |
| Cash at bank and in hand54/58 | €34,657 | €10,334 | €9 | €58 | €7,165 | ▲ 12,350% |
| Deferred charges and accrued income490/1 | €459 | €791 | €1,671 | €2,147 | €1,954 | ▼ 9.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €85,389 | €61,663 | €70,475 | €90,293 | €98,350 | ▲ 8.9% |
| Equity10/15 | €26,018 | €37,045 | €47,076 | €57,470 | €76,981 | ▲ 34.0% |
| Contributions10/11 | €500 | €500 | €500 | €500 | €500 | = |
| Reserves13 | €15,000 | €25,000 | €35,000 | €45,393 | €64,905 | ▲ 43.0% |
| Distributable reserves133 | €15,000 | €25,000 | €35,000 | €45,393 | €64,905 | ▲ 43.0% |
| Profit (loss) carried forward14 | €10,518 | €11,545 | €11,576 | €11,576 | €11,576 | = |
| Amounts payable17/49 | €59,371 | €24,619 | €23,398 | €32,823 | €21,369 | ▼ 34.9% |
| Amounts payable within one year42/48 | €59,371 | €24,619 | €23,398 | €32,823 | €21,369 | ▼ 34.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | €1,026 | €1,027 | ▲ 0.1% |
| Trade debts44 | €48,162 | €14,598 | €18,474 | €21,076 | €14,139 | ▼ 32.9% |
| Suppliers440/4 | €48,162 | €14,598 | €18,474 | €21,076 | €14,139 | ▼ 32.9% |
| Taxes, remuneration and social security45 | €11,208 | €10,021 | €4,924 | €10,721 | €6,204 | ▼ 42.1% |
| Taxes450/3 | €11,208 | €9,221 | €4,924 | €8,021 | €6,204 | ▼ 22.7% |
| Remuneration and social security454/9 | - | €800 | - | €2,700 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6,463 | €11,026 | €10,032 | €10,393 | €19,511 | ▲ 87.7% |
| + Depreciation and write-downs630 | €756 | €1,526 | €1,772 | €1,929 | €1,571 | ▼ 18.5% |
| Operating cash flow (approximation) | €7,219 | €12,552 | €11,804 | €12,322 | €21,082 | ▲ 71.1% |
| Investment in fixed assets (approximation) | - | €0 | -€2,782 | €0 | -€4,480 | - |
| Change in cash | - | -€24,323 | -€10,325 | €48 | €7,107 | ▲ 14,576% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
31-12
Financial
Highest result since 2019net €19,511 ▲87.7%
Operating result €25,599, net result €19,511, both a record.
26-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 26 days late
2024
02-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 33 days late
2023
07-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 68 days late
2022
12-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 73 days late
2020
26-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 57 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Etterbeek · 1 establishment unit since 2018
Ground area
270 m²
Building footprint
160 m²
Volume, LiDAR
3,769 m³
Parcel 21363B0336/00K004, Brussels · tallest building 26.9 m, ±8 floors. Linked by address, not a title deed.
6
companies at this address
See who is registered here
1 establishment unit
MB Concept
since 20182.279.582.350
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21363B0336/00K004 | Brussels | 269 m² | 1 · 160 m² | 26.9 m · 8 fl. |
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 4,020 companies in sector 43310 we hold annual accounts for 1,749. 1,529 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
Founded07-09-2018
Fiscal year end31-12
Activities, NACEBEL 2025
43310Plastering work
81210General cleaning of buildings
81300Landscape service activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0702907233
Registered
09-01-2026
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.