Equity
Megaton has made a profit without a break since 2016.
The dashed line is the sector median: 0.1% across 52 companies (NACE 23, medium-sized).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 23, medium-sized). It does better than 40% of them on solvency, 35% on liquidity, 71% on profitability and 54% on growth.
The bankruptcy probability was computed on 08-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
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).
In July 2024, 1,579 companies had the same profile as Megaton has now. Each dot stands for 4 companies, two years later.
That fits the bankruptcy probability of Megaton itself: 0.1% within 12 months.
The method was tested on the 497,447 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 1,579 companies, not a prediction for Megaton. 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.
Liquidity is tight, with a current ratio of 1.27 (1.01 in 2024), below the usual 1.5. Short-term debt is 48% and cash 6.4% of total assets. 58.8% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average on the deadline day. In the sector (NACE 23), the median for financial year 2024 was 10 days before the deadline, and 34% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| Megaton Ninove | €34.4m | 6.2% | 41.2% | 52.5 |
| PREFER PREFAB Flémalle | €28.9m | 8.1% | 26.3% | 49.5 |
| VAN MAERCKE PREFAB Kluisbergen | €27.9m | 3.7% | 54.6% | 89.2 |
| DE WAAL SOLID FOUNDATIONS Lokeren | €39.1m | 6.5% | 28.6% | 104.5 |
| Les Bétons de la Lomme Rochefort | €20.7m | 15.5% | 74.6% | 59.6 |
| BETONFABRIEK DE BONTE EN VAN HECKE Waasmunster | €25.1m | 5.3% | 30.2% | 60.3 |
| Fingo Malle | €51.5m | 23.2% | 47.9% | 84.4 |
Grey: the largest companies of the sector (non-metallic mineral products (NACE 23)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as Megaton: manufacture of other non-metallic mineral products (NACE 23610). They are comparable in size and age: total assets between €15m and €45m, founded between 1948 and 1993.
Megaton has existed since 1965. Turnover grew from €14.5m in 2006 to €34.4m in 2025, while staff fell from 89.9 to 52.5 full-time equivalents.
Solvency rose in 2025 from 33.6% to 41.2% because of the retained profit and lower debts.
WILLY NAESSENS CONCRETE holds all the shares.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
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