MB PROJECTS
ActiveSummary
MB PROJECTS has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show negative equity (€-1.89M) and a net result of €330k. Equity is growing by ~7.7% per year across the filed fiscal years. Its solvency ranks better than 8% of 2283 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability35▼-41
Solvency7▲+4
Growth78=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.49 against 0.45 in 2023; short-term debt: 105.1% and cash: 0.1% of total assets), and equity is negative.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 82
Relative position
BE, all sectors
reference
Office administrative, office support and other business support activities (NACE 82)
about 37% fewer 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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
-18.4%
Return on assets
3.2%
Age of the figures
21 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 8% of 2283 sector peers (2024).
NBB · sector comparisonPosition among 2283 sector peers
Solvency
better than 8%
← weakest
strongest →
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-11-2025, 122 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
122 d late
2023
on the day
2022
on the day
2021
1 d early
2020
61 d late
2019
153 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, abbreviated schema
Equity
€-1.89M▲ 14.8%
2023 · €-2.22M
2019: €-2.93M
2020: €-2.65M▲ +9.7% vs 2019
2021: €-3.10M▼ -17.3% vs 2020lowest in 6 years
2022: €-2.78M▲ +10.4% vs 2021
2023: €-2.22M▲ +20.2% vs 2022
2024: €-1.89M▲ +14.8% vs 2023highest in 6 years
2019 → 2024
Total assets
€10.29M▲ 3.6%
2023 · €9.93M
2019: €9.37M
2020: €9.36M● -0.0% vs 2019
2021: €8.03M▼ -14.3% vs 2020lowest in 6 years
2022: €9.24M▲ +15.1% vs 2021
2023: €9.93M▲ +7.5% vs 2022
2024: €10.29M▲ +3.6% vs 2023highest in 6 years
2019 → 2024
Net result
€330k▼ 41.2%
2023 · €561k
2019: €-2.75Mlowest in 6 years
2020: €285k▲ +110% vs 2019
2021: €-459k▼ -261% vs 2020
2022: €322k▲ +170% vs 2021
2023: €561k▲ +74.0% vs 2022highest in 6 years
2024: €330k▼ -41.2% vs 2023
2019 → 2024
Working capital
€-5.51M▲ 6.9%
2023 · €-5.92M
2019: €-5.39Mhighest in 6 years
2020: €-5.58M▼ -3.5% vs 2019
2021: €-7.33M▼ -31.3% vs 2020lowest in 6 years
2022: €-6.95M▲ +5.2% vs 2021
2023: €-5.92M▲ +14.8% vs 2022
2024: €-5.51M▲ +6.9% vs 2023
2019 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€-2.65M-€-3.10M▼ 17.3%€-2.78M▲ 10.4%€-2.22M▲ 20.2%€-1.89M▲ 14.8%
2020: €-2.65M
2021: €-3.10M▼ -17.3% vs 2020lowest in 5 years
2022: €-2.78M▲ +10.4% vs 2021
2023: €-2.22M▲ +20.2% vs 2022
2024: €-1.89M▲ +14.8% vs 2023highest in 5 years
Operating result€385k-€-367k€2.55M€635k▼ 75.1%€1.02M▲ 60.8%
2020: €385k
2021: €-367k▼ -195% vs 2020lowest in 5 years
2022: €2.55M▲ +793% vs 2021highest in 5 years
2023: €635k▼ -75.1% vs 2022
2024: €1.02M▲ +60.8% vs 2023
Net result€285k-€-459k€322k€561k▲ 74.0%€330k▼ 41.2%
2020: €285k
2021: €-459k▼ -261% vs 2020lowest in 5 years
2022: €322k▲ +170% vs 2021
2023: €561k▲ +74.0% vs 2022highest in 5 years
2024: €330k▼ -41.2% vs 2023
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2024; 2024 is 61% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €10.29M
Fixed assets
€4.99M ▼ 0.2%
Current assets
€5.31M ▲ 7.5%
Key figures and ratios
EBITDA
€1.03M▲
2023 · €642k
Cash flow
€338k▼
2023 · €568k
Solvency
-18.4%▲
2023 · -22.4%
Current ratio
0.49▲
2023 · 0.45
Quick ratio
0.42▲
2023 · 0.39
Debt to equity
-6.44▼
2023 · -5.47
ROA
3.2%▼
2023 · 5.6%
Interest coverage
1.49▼
2023 · 8.82
Debt
€12.18M▲
2023 · €12.15M
Debt ≤ 1 year
€10.82M▼
2023 · €10.86M
Debt > 1 year
€1k▼
2023 · €1k
Income taxes
€1k▼
2023 · €1k
Staff costs
€67k▼
2023 · €68k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 48 lines
Balance sheet
Code20232024
Assets
Total assets20/58€9.93M€10.29M▲
Fixed assets21/28€4.99M€4.99M▼
Tangible fixed assets22/27€2.53M€2.52M▼
Land and buildings22€2.51M€2.51M=
Plant, machinery and equipment23€2k€1k▼
Furniture and vehicles24€25k€17k▼
Financial fixed assets28€2.46M€2.46M=
Current assets29/58€4.94M€5.31M▲
Stocks and contracts in progress3€675k€740k▲
Stocks30/36€675k€740k▲
Amounts receivable within one year40/41€3.53M€4.34M▲
Trade receivables40€4k€82k▲
Other amounts receivable41€3.53M€4.26M▲
Cash at bank and in hand54/58€68k€10k▼
Deferred charges and accrued income490/1€659k€211k▼
Equity and liabilities
Total equity and liabilities10/49€9.93M€10.29M▲
Equity10/15€-2.22M€-1.89M▲
Contributions10/11€110k€110k=
Profit (loss) carried forward14€-2.33M€-2.00M▲
Amounts payable17/49€12.15M€12.18M▲
Amounts payable after more than one year17€1k€1k▼
Financial debts170/4€1k€1k▼
Amounts payable within one year42/48€10.86M€10.82M▼
Current portion of amounts payable after more than one year42€5k-
Trade debts44€50k€33k▼
Suppliers440/4€50k€33k▼
Taxes, remuneration and social security45€7k€7k▲
Taxes450/3-€309
Remuneration and social security454/9€7k€7k▲
Other amounts payable47/48€10.80M€10.78M▼
Accrued charges and deferred income492/3€1.29M€1.36M▲
Income statement
Code20232024
Remuneration, social security and pensions62€68k€67k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€7k€9k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€179k-
Other operating charges640/8€4k€29k▲
Gross operating margin9900€892k€1.13M▲
Operating profit (loss)9901€635k€1.02M▲
Financial income75/76B€0€0▲
Recurring financial income75€0€0▲
Financial charges65/66B€73k€690k▲
Recurring financial charges65€73k€690k▲
Profit (loss) for the period before taxes9903€562k€331k▼
Income taxes67/77€1k€1k▼
Profit (loss) for the period9904€561k€330k▼
Profit (loss) for the period to be appropriated9905€561k€330k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-2.33M€-2.00M▲
Profit (loss) brought forward from the previous period14P€-2.89M€-2.33M▲
Social balance
Average headcount (FTE)90871.01.0=
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €59k | €60k | €68k | €67k | ▼ 1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €984 | €5k | €5k | €7k | €9k | ▲ 17.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €1.65M | €-1.65M | €179k | - | - |
| Other operating charges640/8 | - | €231k | €205k | €4k | €29k | ▲ 654% |
| Gross operating margin9900 | €574k | €1.57M | €1.17M | €892k | €1.13M | ▲ 26.1% |
| Operating profit (loss)9901 | €385k | €-367k | €2.55M | €635k | €1.02M | ▲ 60.8% |
| Financial income75/76B | - | €0 | €0 | €0 | €0 | ▲ 400% |
| Recurring financial income75 | €0 | €0 | €0 | €0 | €0 | ▲ 400% |
| Financial charges65/66B | - | €91k | €2.22M | €73k | €690k | ▲ 848% |
| Recurring financial charges65 | €98k | €91k | €2.22M | €73k | €690k | ▲ 848% |
| Profit (loss) for the period before taxes9903 | €287k | €-458k | €323k | €562k | €331k | ▼ 41.2% |
| Income taxes67/77 | €2k | €746 | €1k | €1k | €1k | ▼ 6.0% |
| Profit (loss) for the period9904 | €285k | €-459k | €322k | €561k | €330k | ▼ 41.2% |
| Profit (loss) for the period to be appropriated9905 | €285k | €-459k | €322k | €561k | €330k | ▼ 41.2% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €9.36M | €8.03M | €9.24M | €9.93M | €10.29M | ▲ 3.6% |
| Fixed assets21/28 | €6.22M | €6.02M | €5.39M | €4.99M | €4.99M | ▼ 0.2% |
| Tangible fixed assets22/27 | €3.76M | €3.56M | €2.93M | €2.53M | €2.52M | ▼ 0.3% |
| Land and buildings22 | - | €3.53M | €2.92M | €2.51M | €2.51M | = |
| Plant, machinery and equipment23 | - | €4k | €3k | €2k | €1k | ▼ 33.3% |
| Furniture and vehicles24 | - | €19k | €14k | €25k | €17k | ▼ 32.2% |
| Financial fixed assets28 | €2.46M | €2.46M | €2.46M | €2.46M | €2.46M | = |
| Current assets29/58 | €3.14M | €2.01M | €3.84M | €4.94M | €5.31M | ▲ 7.5% |
| Stocks and contracts in progress3 | - | - | €801k | €675k | €740k | ▲ 9.5% |
| Stocks30/36 | - | - | €801k | €675k | €740k | ▲ 9.5% |
| Amounts receivable within one year40/41 | €2.58M | €1.43M | €2.60M | €3.53M | €4.34M | ▲ 22.9% |
| Trade receivables40 | - | €10k | €661 | €4k | €82k | ▲ 2,073% |
| Other amounts receivable41 | - | €1.42M | €2.60M | €3.53M | €4.26M | ▲ 20.8% |
| Cash at bank and in hand54/58 | €5k | €7k | €10k | €68k | €10k | ▼ 85.1% |
| Deferred charges and accrued income490/1 | - | €573k | €434k | €659k | €211k | ▼ 68.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €9.36M | €8.03M | €9.24M | €9.93M | €10.29M | ▲ 3.6% |
| Equity10/15 | €-2.65M | €-3.10M | €-2.78M | €-2.22M | €-1.89M | ▲ 14.8% |
| Contributions10/11 | - | €100k | €100k | €110k | €110k | = |
| Reserves13 | €10k | €10k | €10k | - | - | - |
| Non-distributable reserves130/1 | - | €10k | €10k | - | - | - |
| Reserves not available under the articles1311 | - | €10k | €10k | - | - | - |
| Profit (loss) carried forward14 | €-2.75M | €-3.21M | €-2.89M | €-2.33M | €-2.00M | ▲ 14.1% |
| Amounts payable17/49 | €12.01M | €11.13M | €12.02M | €12.15M | €12.18M | ▲ 0.2% |
| Amounts payable after more than one year17 | €2.20M | €636k | €7k | €1k | €1k | ▼ 0.3% |
| Financial debts170/4 | - | €636k | €7k | €1k | €1k | ▼ 0.3% |
| Amounts payable within one year42/48 | €8.72M | €9.34M | €10.79M | €10.86M | €10.82M | ▼ 0.4% |
| Current portion of amounts payable after more than one year42 | - | €5k | €5k | €5k | - | - |
| Trade debts44 | €119k | €31k | €22k | €50k | €33k | ▼ 35.2% |
| Suppliers440/4 | - | €31k | €22k | €50k | €33k | ▼ 35.2% |
| Taxes, remuneration and social security45 | - | €6k | €9k | €7k | €7k | ▲ 5.9% |
| Taxes450/3 | - | - | €2k | - | €309 | - |
| Remuneration and social security454/9 | - | €6k | €6k | €7k | €7k | ▲ 1.5% |
| Other amounts payable47/48 | - | €9.30M | €10.75M | €10.80M | €10.78M | ▼ 0.1% |
| Accrued charges and deferred income492/3 | - | €1.16M | €1.22M | €1.29M | €1.36M | ▲ 5.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €285k | €-459k | €322k | €561k | €330k | ▼ 41.2% |
| + Depreciation and write-downs630 | €984 | €5k | €5k | €7k | €9k | ▲ 17.6% |
| Operating cash flow (approximation) | €286k | €-454k | €328k | €568k | €338k | ▼ 40.5% |
| Investment in fixed assets (approximation) | - | €198k | €617k | €393k | €0 | ▼ 100% |
| Change in cash | - | €2k | €3k | €58k | €-58k | ▼ 200% |
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
2025
30-11
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 122 days late
2024
31-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Highest result since 2019net €561k ▲74%
Net result €561k, the highest in the series.
31-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Back to profitnet €322k
Net result €322k after one loss-making year.
30-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-09
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 61 days late
2020
31-12
Financial
Back to profitnet €285k
Net result €285k after one loss-making year.
31-12
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 153 days late
2018
31-10
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
30-11
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 30 days late
2016
29-11
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 29 days late
2015
30-11
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 30 days late
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, Hasselt · 1 establishment unit since 2009
Ground area
1,455 m²
Building footprint
203 m²
Parcel 71022H1475/00A000, Flanders. Linked by address, not a title deed.
7
companies at this address
See who is registered here
1 establishment unit
MB PROJECTS
since 20092.183.092.094
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71022H1475/00A000 | Flanders | 1,455 m² | 1 · 203 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.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
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Of 24,497 companies in sector 82990 we hold annual accounts for 9,406. 893 are within a factor 10 of this headcount. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded19-11-2009
Fiscal year end31-12
Activities, NACEBEL 2025
68122Development of non-residential building projects
82990Other business support services
68110Buying and selling of own real estate
Scores and ratios are computed by Checked and are not a credit decision.