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MD Panneaux

Active
Private limited companyfounded 2024active for 2 yearsAvenue St Michel 21, 4130 Esneux, BelgiumKBO/BCE: BE 1008.854.735

From the official registers: KBO 2 annual accounts at the National Bank publications in the Belgian Official Gazette

Summary

The computed 12-month bankruptcy probability of MD Panneaux is 8.2% (elevated). The 2025 annual accounts show negative equity (-€74,160) and a net result of -€65,556. Its solvency ranks better than 5% of 9,380 sector peers (NACE 41, financial year 2025). The company has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals.

Overview

Official details

KBO
Status
Active since 26-04-2024 Normal situation
Activity
General construction of residential buildings NACE 41001and 2 others
Establishment unit
2.359.499.759 4130 Esneux, since 26-04-2024
Financial year end
31 December
Peppol
Reachable since 18-09-2025

Financial position

30 Weak Checked score 2025
Bankruptcy probabilitywithin 12 months
8.2%
Annual accounts 2025
Gross margin
-€40,074
▼ 2,127%
Loss
€65,556
▲ 382%
Equity
-€74,160
▼ 762%
Total assets
€135,694
▲ 175%
Turnover not published (micro format)
Filed on 31-08-2026, 31 days after the deadlineat the National Bank
Score breakdownraises riskSector: Construction of residential and non-residential buildings (NACE 41)Founded in 2024Last filed accounts filed 31 days late; 2 of the last 3 accounts lateLoss of €65,556, the second in a row (financial year 2025)Show the evidence

Checked score

Score 2025
30 / 100
Weak
Probability in this band: 4.2% to 15.0%
Financially stronger than 4% of micro companies in construction of buildings (NACE 41)
Financial strength · tick: 2024
Weak
Solvency 0-8
equity -54.7% of total assets
Liquidity 5-11
short-term debt 145.2% · cash 4.3%
Profitability 0=
return on assets -48.3%
Bankruptcy probability within 12 months
8.2% Elevated
0%0.5%1.5%4%10%≥ 25%

About 8 in 100 comparable companies go bankrupt within 12 months (an estimate).

Sector median 1.5% (13,451 companies, NACE 41, micro)
Last 24 months 05-2025: 3.6%lowest value 06-2025: 3.6%● unchanged vs 05-2025lowest value 07-2025: 3.7%▲ +0.1 percentage points vs 06-2025 08-2025: 4.0%▲ +0.3 percentage points vs 07-2025 09-2025: 4.2%▲ +0.2 percentage points vs 08-2025 10-2025: 6.7%▲ +2.5 percentage points vs 09-2025 11-2025: 6.7%● unchanged vs 10-2025 12-2025: 7.1%▲ +0.4 percentage points vs 11-2025 01-2026: 7.0%▼ -0.1 percentage points vs 12-2025 02-2026: 6.9%▼ -0.1 percentage points vs 01-2026 03-2026: 6.8%▼ -0.1 percentage points vs 02-2026 04-2026: 7.1%▲ +0.3 percentage points vs 03-2026 05-2026: 7.1%● unchanged vs 04-2026 06-2026: 7.0%▼ -0.1 percentage points vs 05-2026 07-2026: 7.1%▲ +0.1 percentage points vs 06-2026 08-2026: 7.7%▲ +0.6 percentage points vs 07-2026 09-2026: 8.2%▲ +0.5 percentage points vs 08-2026highest value 10-2026: 8.2%● unchanged vs 09-2026highest value
No credit on open account
Liquidity is insufficient, with a current ratio of 0.43 (0.51 in 2024), below 1. Short-term debt is 145.2% and cash 4.3% of total assets. Equity is negative.
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 41, micro). It does better than 3% of them on solvency, 6% on liquidity, 5% on profitability and 0% on growth.

The bankruptcy probability was computed on 31-10-2026 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

Six signals.
raises risk
raises risk · Sector: Construction of residential and non-residential buildings (NACE 41)
KBO
raises risk · Founded in 2024
Companies of this age fail more often than older ones. How much that weighs depends on the rest of the company's profile.
KBO
raises risk · Last filed accounts filed 31 days late; 2 of the last 3 accounts late
NBB · filings
raises risk · Loss of €65,556, the second in a row (financial year 2025)
NBB · annual accounts
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025
Equity per financial year
2425
2024 to 2025 · latest year -€74,160
raises risk · 2025 accounts filed 31 days late
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. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 2 filings
Deviation from the deadline
2025
31 days late
2024
56 days late
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

The company filed its last 2 accounts on average 44 days after the deadline. In the sector (NACE 41), the median for financial year 2024 was on the deadline day, and 46% of those companies filed late.

Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven months
Where today falls in the filing period
01-11-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
That holds for every publication since incorporation in 2024.
KBO publications

Key points

  • Risk: Negative equitydebts exceed assets in financial year 2025 -€74,160 View
  • Caution: Result fell in 2025from -€13,604 to -€65,556 ▼ 382% View
  • Caution: Lower solvency than 95% of companies in construction of buildingssector median 43.0% · 9,380 companies -54.7% View

Comparable companies

These companies have the same main activity as MD Panneaux: general construction of residential buildings (NACE 41001). They are comparable in size and age: total assets between €122,000 and €161,000, founded between 2023 and 2024.

CompanyTotal assetsGross margin
MD Panneaux Esneux€135,694-€40,074
Equita Construction Amay€161,357-€9,138
VC² Property Oudenaarde€137,749-€806
QUENTIN MANOUVRIER CONSTRUCTION Ittre€127,853-€40,541
PVA BATI Halle€125,630-€5,796
APL INVEST Montigny-le-Tilleul€121,705€42
A2L Invest Sint-Martens-Latem€144,718-€5,866
Full comparison

Documents

Annual accounts at the NBB

Acts in the Belgian Official Gazette

All publications in the Belgian Official Gazette

Articles and registers

Key facts about MD Panneaux

What is the company number of MD Panneaux?
The company number of MD Panneaux is 1008.854.735. The VAT number is the same number with BE in front: BE 1008.854.735.
Where is MD Panneaux based?
The registered office is at Avenue St Michel 21, 4130 Esneux.Company details
What does MD Panneaux do?
According to the KBO register, the main activity is general construction of residential buildings (NACE 41001).
What is the legal form of MD Panneaux?
The legal form of MD Panneaux is Private limited company (BV).
When was MD Panneaux founded?
MD Panneaux was founded on 26-04-2024.
Is MD Panneaux still active?
Yes, MD Panneaux is an active enterprise in the KBO register.
What is the turnover of MD Panneaux?
The annual accounts for financial year 2025 state no turnover. The micro format does not require it.Financials
Is MD Panneaux profitable?
In financial year 2025, MD Panneaux made a loss of €65,556.
Where can I find the annual accounts of MD Panneaux?
MD Panneaux filed 2 annual accounts with the National Bank of Belgium, the latest for financial year 2025.Annual accounts at the National Bank
When are the next annual accounts of MD Panneaux due?
MD Panneaux must file the annual accounts for financial year 2026 by 31-07-2027.Timeline

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