MB Projects
ActiveSummary
MB Projects has been active since 2020 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.4m and a net result of -€110,686. Equity has been shrinking by about 9.3% per year since 2021. Its solvency ranks better than 22% of 39,275 sector peers (NACE 70, financial year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 30-01-2020 Normal situation
- Activity
- Business and other management consultancy NACE 70200
- Establishment unit
- 2.300.415.079 8800 Roeselare, since 30-01-2020
- Financial year end
- 31 March
- Peppol
- Reachable since 13-05-2026
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.3%
- Gross margin
- -€19,014
- ▲ 22.9%
- Loss
- €110,686
- ▼ 47.7%
- Equity
- €1.4m
- ▼ 7.2%
- Total assets
- €7.7m
- ▲ 32.7%
- 2026 accounts not filed, 4 days past the deadline
Score breakdownraises riskLiquidity: current ratio 0.68, cash €61,950Figures for financial year 2025 (filed on 05-11-2025)lowers riskSize: total assets €7.7mSector: Activities of head offices; management consultancy activities (NACE 70)Show the evidence
Checked score
About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 70, small). It does better than 20% of them on solvency, 4% on liquidity, 7% on profitability and 17% on growth.
The bankruptcy probability was computed on 03-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 5 accounts on average 5 days before the deadline. In the sector (NACE 70), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.
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Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 30-10-2025 PDF all 5 filings
Every figure per financial year
The operating result for 2025 is a loss of €118,428, larger than the loss of €114,148 in 2024. It is the lowest result since 2021.
Turnover and EBIT margin are not published. The micro format does not require them.
Investments
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 |
|---|---|---|---|---|
| Tangible fixed assets | - | €150,682 | €2,773 | - |
| Financial fixed assets | €2.5m | - | €150,000 | - |
| Depreciation and write-downs of the year | €74,625 | €68,866 | €82,355 | €82,594 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €0 | - | - | €17,455 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €110,062 | €74,625 | €68,866 | €82,355 | €82,594 | ▲ 0.3% |
| Other operating charges640/8 | - | €6,082 | €22,733 | €7,116 | €16,821 | ▲ 136% |
| Gross operating margin9900 | €512,431 | €6,221 | -€25,154 | -€24,677 | -€19,014 | ▲ 22.9% |
| Operating profit (loss)9901 | €389,886 | -€74,486 | -€116,753 | -€114,148 | -€118,428 | ▼ 3.8% |
| Financial income75/76B | - | €0 | €1 | €39,040 | €48,463 | ▲ 24.1% |
| Recurring financial income75 | €0 | €0 | €1 | €39,040 | €48,463 | ▲ 24.1% |
| Financial charges65/66B | - | €32,710 | €56,693 | €132,546 | €13,421 | ▼ 89.9% |
| Recurring financial charges65 | €37,521 | €32,710 | €56,693 | €132,546 | €13,421 | ▼ 89.9% |
| Profit (loss) for the period before taxes9903 | €352,365 | -€107,196 | -€173,445 | -€207,653 | -€83,386 | ▲ 59.8% |
| Income taxes67/77 | €111,908 | €976 | €1,613 | €3,933 | €27,300 | ▲ 594% |
| Profit (loss) for the period9904 | €240,457 | -€108,172 | -€175,059 | -€211,586 | -€110,686 | ▲ 47.7% |
| Transfer from tax-exempt reserves789 | - | €0 | €439,926 | €0 | - | - |
| Profit (loss) for the period to be appropriated9905 | €405,393 | -€108,172 | €264,868 | -€211,586 | -€110,686 | ▲ 47.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.9m | €5.3m | €5.5m | €5.8m | €7.7m | ▲ 32.7% |
| Fixed assets21/28 | €0.9m | €3.4m | €3.4m | €3.5m | €3.4m | ▼ 2.4% |
| Tangible fixed assets22/27 | €0.9m | €0.9m | €0.9m | €0.9m | €0.8m | ▼ 9.7% |
| Land and buildings22 | - | €0.8m | €0.7m | €0.7m | €0.7m | ▼ 6.4% |
| Plant, machinery and equipment23 | - | €0.02m | €0.02m | €0.01m | €0.01m | ▼ 17.1% |
| Furniture and vehicles24 | - | €0.04m | €0.2m | €0.1m | €0.1m | ▼ 25.2% |
| Financial fixed assets28 | €0.005m | €2.5m | €2.5m | €2.7m | €2.7m | = |
| Current assets29/58 | €2.0m | €2.0m | €2.1m | €2.3m | €4.3m | ▲ 86.5% |
| Amounts receivable after more than one year29 | - | - | €0.08m | €0.2m | €0.5m | ▲ 105% |
| Trade receivables290 | - | - | €0.08m | €0.2m | - | - |
| Other amounts receivable291 | - | - | - | - | €0.5m | - |
| Amounts receivable within one year40/41 | €2.0m | €2.0m | €2.0m | €2.0m | €3.7m | ▲ 85.5% |
| Trade receivables40 | - | €0.007m | €0.004m | €0.004m | €1.7m | ▲ 407× |
| Other amounts receivable41 | - | €1.9m | €2.0m | €2.0m | €2.0m | ▲ 1.4% |
| Cash at bank and in hand54/58 | €0.05m | €0.006m | €0.02m | €0.03m | €0.06m | ▲ 125% |
| Deferred charges and accrued income490/1 | - | €0.004m | €0.004m | €0.04m | €0.04m | ▲ 4.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.9m | €5.3m | €5.5m | €5.8m | €7.7m | ▲ 32.7% |
| Equity10/15 | €2.0m | €1.9m | €1.8m | €1.5m | €1.4m | ▼ 7.2% |
| Contributions10/11 | - | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Reserves13 | €1.5m | €1.5m | €1.5m | €1.5m | €1.5m | = |
| Non-distributable reserves130/1 | - | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Reserves not available under the articles1311 | - | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Tax-exempt reserves132 | - | €0.4m | €0 | - | - | - |
| Distributable reserves133 | - | €1.1m | €1.5m | €1.5m | €1.5m | = |
| Profit (loss) carried forward14 | €0.2m | €0.1m | -€0.04m | -€0.3m | -€0.4m | ▼ 43.5% |
| Amounts payable17/49 | €0.9m | €3.4m | €3.7m | €4.3m | €6.3m | ▲ 47.3% |
| Amounts payable after more than one year17 | - | - | - | €0.2m | €0 | ▼ 100% |
| Other amounts payable178/9 | - | - | - | €0.2m | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €0.9m | €3.4m | €3.7m | €3.9m | €6.3m | ▲ 59.4% |
| Current portion of amounts payable after more than one year42 | - | €0 | - | - | - | - |
| Trade debts44 | €0.009m | €0.007m | €0.001m | €0.004m | €0.01m | ▲ 175% |
| Suppliers440/4 | - | €0.007m | €0.001m | €0.004m | €0.01m | ▲ 175% |
| Taxes, remuneration and social security45 | - | €0.001m | €0.002m | €0.004m | €0 | ▼ 100% |
| Taxes450/3 | - | €0.001m | €0.002m | €0.004m | €0 | ▼ 100% |
| Remuneration and social security454/9 | - | €86 | €120 | €0 | - | - |
| Other amounts payable47/48 | - | €3.3m | €3.7m | €3.9m | €6.2m | ▲ 59.4% |
| Accrued charges and deferred income492/3 | - | €0.03m | €0.06m | €0.1m | €0.01m | ▼ 90.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.2m | -€0.1m | -€0.2m | -€0.2m | -€0.1m | ▲ 47.7% |
| + Depreciation and write-downs630 | €0.1m | €0.07m | €0.07m | €0.08m | €0.08m | ▲ 0.3% |
| Operating cash flow (approximation) | €0.4m | -€0.03m | -€0.1m | -€0.1m | -€0.03m | ▲ 78.3% |
| Investment in fixed assets (approximation) | - | -€2.5m | -€0.2m | -€0.2m | €0 | - |
| Change in cash | - | -€0.05m | €0.01m | €0.01m | €0.03m | ▲ 234% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 618 companies had the same profile as MB Projects has now. Two years later, 96.6% were still going and 0.6% had gone bankrupt.
- Medium-sized
- solvency 10 to 30%
- a small loss
- without age
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of MB Projects itself: 0.3% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 618 companies, not a prediction for MB Projects. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Filings with the National Bank (5)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2025 | micro format | 30-10-2025 | 2025-00562194 | |
| 31-03-2024 | micro format | 28-10-2024 | 2024-00521015 | |
| 31-03-2023 | micro format | 23-10-2023 | 2023-00491364 | |
| 31-03-2022 | micro format | 26-10-2022 | 2022-20476516 | |
| 31-03-2021 | micro format | 25-10-2021 | 2021-73300294 |
Board & ownership
Directors
Owners and capital
Owners
Network & group
Holdings and subsidiaries
1 holdingHoldings 1
- Sourceown accounts 31-03-2025Equity €2,217 Loss of €114,465 in 2025 (loss of €231,619 in 2024) Checked score 4925%
Board mandates elsewhere
3 board mandatesCompanies at the same address
1 other companyConnections & network
1 current directorThe board mandates are listed under Board mandates elsewhere. The network lets you explore the same ties.
Timeline
Acts, filings and financial milestones
15-07
Gazette deed
PurposePurpose change · Power of attorney5 points ▸
- General meeting, 26-06-2025
- Other provision, “verslag bestuursorgaan over voorwerpswijziging, kennisname en aanvaarding en aansluiting bij verantwoording” (deed in Dutch)
- Purpose change
- Power of attorney, Florence TERRYN
- Power of attorney, Karel VANDEPUTTE
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 36017A0298/00S004 | Flanders | 3,677 m² | 1 · 104 m² | 22.0 m · 2 |