MEBUL
ActiveSummary
MEBUL has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€49,091) and a net result of €6,274. Equity is shrinking by ~19.1% per year across the filed fiscal years. Its solvency ranks better than 5% of 28184 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.4% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability95▼-5
Solvency0=
Growth22=
Track record100
Bankruptcy probability, 12 months
1.4%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.24 against 0.26 in 2024; short-term debt: 265.1% and cash: 3.1% of total assets), and equity is negative.
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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 →
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 2025Solvency, return and age of the figures
Solvency
-165.1%
Return on assets
21.1%
Age of the figures
9 mo
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 · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 28184 sector peers (2025).
NBB · sector comparisonPosition among 28184 sector peers
Solvency
better than 5%
← weakest
strongest →
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 · 10 filingsDeviation from the deadline
2025
31 d late
2024
28 d early
2023
53 d late
2022
39 d early
2021
59 d early
2020
24 d early
2019
90 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 3 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
€35,039▲ 84.4%
2020 · €19,004
EBIT margin
-54.7%▲ 100.5pp
2020 · -155.2%
Net result
€6,274▼ 20.6%
2024 · €7,898
Working capital
-€59,545▲ 5.1%
2024 · -€62,717
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
Turnover€35,039▲ 84.4%
Operating result-€19,164▲ 35.0%-€9,282▲ 51.6%€3,432€11,900▲ 247%€7,863▼ 33.9%
Net result-€21,168▲ 34.7%-€11,081▲ 47.7%€328€7,898▲ 2,311%€6,274▼ 20.6%
EBIT margin-54.7%▲ 100.5pp
Equity-€50,089▼ 73.2%-€61,170▼ 22.1%-€60,843▲ 0.5%-€52,945▲ 13.0%-€49,091▲ 7.3%
Total assets€18,902▼ 0.8%€11,344▼ 40.0%€30,150▲ 166%€31,593▲ 4.8%€29,733▼ 5.9%
Debt€68,991▲ 43.8%€72,514▲ 5.1%€90,993▲ 25.5%€84,538▼ 7.1%€78,824▼ 6.8%
Working capital-€54,792▼ 67.2%-€65,280▼ 19.1%-€72,297▼ 10.7%-€62,717▲ 13.3%-€59,545▲ 5.1%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 34% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €29,733
Fixed assets
€10,454 ▲ 7.0%
Current assets
€19,279 ▼ 11.7%
Key figures and ratios
EBITDA
€9,506▼
2024 · €14,516
Cash flow
€7,917▼
2024 · €10,513
Solvency
-165.1%▲
2024 · -167.6%
Current ratio
0.24▼
2024 · 0.26
Debt to equity
-1.61▼
2024 · -1.60
ROA
21.1%▼
2024 · 25.0%
Interest coverage
12.86▼
2024 · 31.51
Debt ≤ 1 year
€78,824▼
2024 · €84,538
Income taxes
€850▼
2024 · €3,543
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,639 companies that looked in July 2024 the way this one looks now, 2.7% went bankrupt within 24 months and 92% are still going.
- Micro
- 10 to 20 years old
- negative equity
- a profit of 5% of the balance sheet or more
2.7%
went bankrupt
4.9%
stopped otherwise
92%
still going
A further 0.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.4% 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 3,639 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 | €35,039 | - | - | - | - | - |
| Non-recurring operating income76A | - | €341 | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | €52,559 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,790 | €5,036 | €546 | €2,616 | €1,643 | ▼ 37.2% |
| Other operating charges640/8 | €1,622 | - | €1,033 | €919 | €1,447 | ▲ 57.4% |
| Non-recurring operating charges66A | - | - | - | - | €8,228 | - |
| Gross operating margin9900 | -€11,752 | -€4,246 | €5,010 | €15,435 | €19,181 | ▲ 24.3% |
| Operating profit (loss)9901 | -€19,164 | -€9,282 | €3,432 | €11,900 | €7,863 | ▼ 33.9% |
| Financial income75/76B | €5 | €1 | - | €1 | - | - |
| Recurring financial income75 | €5 | €1 | - | €1 | - | - |
| Financial charges65/66B | €2,009 | €1,800 | €2,684 | €461 | €739 | ▲ 60.5% |
| Recurring financial charges65 | €2,009 | €1,800 | €1,437 | €461 | €739 | ▲ 60.5% |
| Non-recurring financial charges66B | - | - | €1,247 | - | - | - |
| Profit (loss) for the period before taxes9903 | -€21,168 | -€11,081 | €748 | €11,441 | €7,124 | ▼ 37.7% |
| Income taxes67/77 | - | - | €420 | €3,543 | €850 | ▼ 76.0% |
| Profit (loss) for the period9904 | -€21,168 | -€11,081 | €328 | €7,898 | €6,274 | ▼ 20.6% |
| Profit (loss) for the period to be appropriated9905 | -€21,168 | -€11,081 | €328 | €7,898 | €6,274 | ▼ 20.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €18,902 | €11,344 | €30,150 | €31,593 | €29,733 | ▼ 5.9% |
| Formation expenses20 | - | - | - | €0 | €0 | - |
| Fixed assets21/28 | €10,971 | €5,036 | €11,454 | €9,771 | €10,454 | ▲ 7.0% |
| Tangible fixed assets22/27 | €10,971 | €5,036 | €11,454 | €9,771 | €10,454 | ▲ 7.0% |
| Plant, machinery and equipment23 | - | - | - | - | €1,129 | - |
| Furniture and vehicles24 | €899 | - | €11,454 | €9,771 | €9,325 | ▼ 4.6% |
| Leasing and similar rights25 | €10,072 | €5,036 | - | - | - | - |
| Current assets29/58 | €7,931 | €6,308 | €18,696 | €21,821 | €19,279 | ▼ 11.7% |
| Amounts receivable within one year40/41 | €7,925 | €6,308 | €10,920 | €18,702 | €16,723 | ▼ 10.6% |
| Trade receivables40 | €7,925 | €5,005 | €10,920 | €16,870 | €16,217 | ▼ 3.9% |
| Other amounts receivable41 | - | €1,303 | - | €1,832 | €506 | ▼ 72.4% |
| Cash at bank and in hand54/58 | €6 | - | €6,277 | €1,804 | €931 | ▼ 48.4% |
| Deferred charges and accrued income490/1 | - | - | €1,498 | €1,315 | €1,625 | ▲ 23.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €18,902 | €11,344 | €30,150 | €31,593 | €29,733 | ▼ 5.9% |
| Equity10/15 | -€50,089 | -€61,170 | -€60,843 | -€52,945 | -€49,091 | ▲ 7.3% |
| Contributions10/11 | €18,500 | €18,500 | €18,500 | €18,500 | €18,500 | = |
| Outside capital11 | €18,500 | €18,500 | - | - | - | - |
| Other1109/19 | €18,500 | €18,500 | - | - | - | - |
| Profit (loss) carried forward14 | -€68,589 | -€79,670 | -€79,343 | -€71,445 | -€67,591 | ▲ 5.4% |
| Amounts payable17/49 | €68,991 | €72,514 | €90,993 | €84,538 | €78,824 | ▼ 6.8% |
| Amounts payable after more than one year17 | €6,268 | €926 | - | - | - | - |
| Financial debts170/4 | €6,268 | €926 | - | - | - | - |
| Amounts payable within one year42/48 | €62,723 | €71,588 | €90,993 | €84,538 | €78,824 | ▼ 6.8% |
| Current portion of amounts payable after more than one year42 | €3,059 | €4,664 | - | - | - | - |
| Financial debts43 | €2,993 | €3,170 | €3,110 | - | - | - |
| Credit institutions430/8 | €2,993 | €3,170 | €3,110 | - | - | - |
| Trade debts44 | €9,178 | €11,912 | €12,855 | €7,051 | €4,457 | ▼ 36.8% |
| Suppliers440/4 | €9,178 | €11,912 | €12,855 | €7,051 | €4,457 | ▼ 36.8% |
| Taxes, remuneration and social security45 | €12,794 | €12,417 | €1,873 | €3,989 | €2,044 | ▼ 48.8% |
| Taxes450/3 | €1,249 | €872 | €1,873 | €3,989 | €2,044 | ▼ 48.8% |
| Remuneration and social security454/9 | €11,545 | €11,545 | - | - | - | - |
| Other amounts payable47/48 | €34,699 | €39,425 | €73,154 | €73,497 | €72,323 | ▼ 1.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€21,168 | -€11,081 | €328 | €7,898 | €6,274 | ▼ 20.6% |
| + Depreciation and write-downs630 | €5,790 | €5,036 | €546 | €2,616 | €1,643 | ▼ 37.2% |
| Operating cash flow (approximation) | -€15,378 | -€6,045 | €873 | €10,513 | €7,917 | ▼ 24.7% |
| Investment in fixed assets (approximation) | - | €899 | -€6,964 | -€933 | -€2,326 | ▼ 149% |
| Change in cash | - | - | - | -€4,473 | -€873 | ▲ 80.5% |
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
03-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
22-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 53 days late
2023
31-12
Financial
Back to profitnet €328
Net result €328 after 4 loss-making years.
22-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
02-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
07-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Weakest financial yearnet -€32,401
Net result drops to -€32,401, the lowest in the series; recovery starts the following year.
29-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 90 days late
2019
14-02
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
15-05
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 31 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, Antwerpen · 1 establishment unit since 2013
Ground area
144 m²
Building footprint
79 m²
Volume, LiDAR
662 m³
Parcel 11345B0405/00H002, Flanders · tallest building 9.2 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Trans 26
since 20132.217.465.332
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11345B0405/00H002 | Flanders | 143 m² | 1 · 79 m² | 9.2 m · 3 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.
Recognitions · licences · registrations
Recognised contractor
2 categoriesBULUT ASK BV43152
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Of 22,831 companies in sector 43211 we hold annual accounts for 10,329. 2,858 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
Founded12-03-2013
Fiscal year end31-12
Activities, NACEBEL 2025
43211General electrical installation work
42219Civil engineering
E-invoicing
Reachable via Peppol
Peppol ID
0208:0523900364
Also
9925:BE0523900364
Registered
02-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.