MEMCO
ActiveSummary
MEMCO has been active since 1994 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.4m and a net result of -€126,826. Equity remains stable across the filed fiscal years (±0.1% per year). Its solvency ranks better than 57% of 4577 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability27▼-40
Solvency72▼-2
Growth32▼-46
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €75,000 at 30 days acceptable
Liquidity short (current ratio 0.7 against 0.77 in 2024; short-term debt: 53% and cash: 0% of total assets), and 53.2% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% 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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
46.8%
Return on assets
-4.4%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 26-08-2026, 26 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
26 d late
2024
103 d late
2023
15 d late
2022
1 d early
2021
61 d late
2020
137 d late
2019
116 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 65 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% 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, full schema
Turnover
€619,028
EBIT margin
24.0%
Net result
-€126,826
2024 · €36,104
Working capital
-€470,413▼ 34.3%
2024 · -€350,186
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
Operating result-€5,007€114,633-€38,865€45,189-€101,485
Net result-€32,660€90,211-€39,376€36,104-€126,826
EBIT margin
Equity€1.4m▼ 2.3%€1.5m▲ 6.4%€1.5m▼ 2.6%€1.5m▲ 2.5%€1.4m▼ 8.5%
Total assets€2.6m▼ 1.4%€2.7m▲ 0.9%€3.1m▲ 16.8%€3.0m▼ 2.9%€2.9m▼ 4.0%
Debt€1.2m▼ 0.3%€1.2m▼ 5.3%€1.7m▲ 41.4%€1.5m▼ 7.6%€1.5m▲ 0.4%
Working capital-€412,224▼ 56.1%-€320,214▲ 22.3%-€357,790▼ 11.7%-€350,186▲ 2.1%-€470,413▼ 34.3%
Staff (FTE)3=3=5▲ 66.7%4.3▼ 14.0%4.3=
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €101,485 after €45,189 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.9m
Fixed assets
€1.8m =
Current assets
€1.1m ▼ 10.1%
Equity and liabilities €2.9m
Equity
€1.4m ▼ 8.5%
Debt
€1.5m ▲ 0.4%
Debt's share of the balance-sheet total rises from 50.9% to 53.2%. Equity is lower and debt is higher.
Key figures and ratios
Current ratio
0.70▼
2024 · 0.77
Quick ratio
0.65▼
2024 · 0.73
Debt to equity
1.14▲
2024 · 1.04
ROE
-9.3%▼
2024 · 2.4%
ROA
-4.4%▼
2024 · 1.2%
Debt ≤ 1 year
€1.5m=
2024 · €1.5m
Staff costs
€100,256▼
2024 · €125,840
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €63,538 | €65,022 | €112,864 | €125,840 | €100,256 | ▼ 20.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,071 | €1,800 | €1,800 | €6,130 | - | - |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €590 | - | - |
| Other operating charges640/8 | €1,410 | €1,091 | €2,095 | €1,912 | €1,493 | ▼ 21.9% |
| Gross operating margin9900 | €62,014 | €182,545 | €77,894 | €179,661 | €264 | ▼ 99.9% |
| Operating profit (loss)9901 | -€5,007 | €114,633 | -€38,865 | €45,189 | -€101,485 | ▼ 325% |
| Financial income75/76B | €58 | €10 | - | - | - | - |
| Recurring financial income75 | €58 | €10 | - | - | - | - |
| Financial charges65/66B | €27,712 | €24,433 | €512 | €9,085 | €25,341 | ▲ 179% |
| Recurring financial charges65 | €27,712 | €24,433 | €512 | €9,085 | €25,341 | ▲ 179% |
| Profit (loss) for the period before taxes9903 | -€32,660 | €90,211 | -€39,376 | €36,104 | -€126,826 | ▼ 451% |
| Profit (loss) for the period9904 | -€32,660 | €90,211 | -€39,376 | €36,104 | -€126,826 | ▼ 451% |
| Profit (loss) for the period to be appropriated9905 | -€32,660 | €90,211 | -€39,376 | €36,104 | -€126,826 | ▼ 451% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.6m | €2.7m | €3.1m | €3.0m | €2.9m | ▼ 4.0% |
| Fixed assets21/28 | €1.8m | €1.8m | €1.8m | €1.8m | €1.8m | = |
| Tangible fixed assets22/27 | €5,400 | €3,600 | €1,800 | - | - | - |
| Other tangible fixed assets26 | €5,400 | €3,600 | €1,800 | - | - | - |
| Financial fixed assets28 | €1.8m | €1.8m | €1.8m | €1.8m | €1.8m | = |
| Current assets29/58 | €804,088 | €830,250 | €1.3m | €1.2m | €1.1m | ▼ 10.1% |
| Stocks and contracts in progress3 | €109,630 | €68,825 | €68,825 | €68,825 | €68,825 | = |
| Contracts in progress37 | €109,630 | €68,825 | €68,825 | €68,825 | €68,825 | = |
| Amounts receivable within one year40/41 | €693,097 | €742,265 | €1.2m | €1.1m | €998,714 | ▼ 10.2% |
| Trade receivables40 | €367,348 | €401,467 | €440,481 | €423,631 | €430,711 | ▲ 1.7% |
| Other amounts receivable41 | €325,750 | €340,798 | €730,313 | €688,936 | €568,003 | ▼ 17.6% |
| Cash at bank and in hand54/58 | €481 | €15,445 | €33,798 | €2,818 | €336 | ▼ 88.1% |
| Deferred charges and accrued income490/1 | €880 | €3,714 | €7,587 | €8,218 | €4,602 | ▼ 44.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.6m | €2.7m | €3.1m | €3.0m | €2.9m | ▼ 4.0% |
| Equity10/15 | €1.4m | €1.5m | €1.5m | €1.5m | €1.4m | ▼ 8.5% |
| Contributions10/11 | €80,565 | €80,565 | €80,565 | €80,565 | €80,565 | = |
| Capital10 | €80,565 | €80,565 | €80,565 | €80,565 | €80,565 | = |
| Issued capital100 | €80,565 | €80,565 | €80,565 | €80,565 | €80,565 | = |
| Reserves13 | €8,057 | €8,057 | €8,057 | €8,057 | €8,057 | = |
| Non-distributable reserves130/1 | €8,057 | €8,057 | €8,057 | €8,057 | €8,057 | = |
| Legal reserve130 | €8,057 | €8,057 | €8,057 | €8,057 | €8,057 | = |
| Profit (loss) carried forward14 | €1.3m | €1.4m | €1.4m | €1.4m | €1.3m | ▼ 9.1% |
| Amounts payable17/49 | €1.2m | €1.2m | €1.7m | €1.5m | €1.5m | ▲ 0.4% |
| Amounts payable within one year42/48 | €1.2m | €1.2m | €1.6m | €1.5m | €1.5m | = |
| Current portion of amounts payable after more than one year42 | €2,760 | - | - | - | - | - |
| Trade debts44 | €214,268 | €90,686 | €676,906 | €102,002 | €96,155 | ▼ 5.7% |
| Suppliers440/4 | €214,268 | €90,686 | €676,906 | €102,002 | €96,155 | ▼ 5.7% |
| Taxes, remuneration and social security45 | €11,917 | €19,036 | €10,216 | €20,241 | €25,677 | ▲ 26.9% |
| Taxes450/3 | €7,845 | €16,310 | €4,964 | €901 | €10,279 | ▲ 1,041% |
| Remuneration and social security454/9 | €4,072 | €2,726 | €5,252 | €19,341 | €15,397 | ▼ 20.4% |
| Other amounts payable47/48 | €987,367 | €1.0m | €951,671 | €1.4m | €1.4m | = |
| Accrued charges and deferred income492/3 | €30,300 | €30,300 | €30,300 | - | €6,600 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€32,660 | €90,211 | -€39,376 | €36,104 | -€126,826 | ▼ 451% |
| + Depreciation and write-downs630 | €2,071 | €1,800 | €1,800 | €6,130 | - | - |
| Operating cash flow (approximation) | -€30,588 | €92,011 | -€37,576 | €42,234 | -€126,826 | ▼ 400% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€4,330 | €0 | ▲ 100% |
| Change in cash | - | €14,964 | €18,353 | -€30,980 | -€2,483 | ▲ 92.0% |
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
26-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 26 days late
2025
31-12
Financial
Weakest financial yearnet -€126,826
Net result drops to -€126,826, the lowest in the series.
11-11
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 103 days late
2024
31-12
Financial
Back to profitnet €36,104
Net result €36,104 after one loss-making year.
15-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 15 days late
2023
30-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Back to profitnet €90,211
Net result €90,211 after one loss-making year.
30-09
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 61 days late
2021
15-12
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 137 days late
2020
31-12
Financial
Back to profitnet €24,679
Net result €24,679 after 2 loss-making years.
24-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 116 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
26-09
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 57 days late
2017
28-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
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, Sint-Joost-ten-Node · 1 establishment unit since 1994
Ground area
291 m²
Building footprint
104 m²
Volume, LiDAR
1,240 m³
2 parcels, Brussels, Wallonia · tallest building 20.2 m, ±5 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
MEMCO
since 19942.067.079.502
2 parcels
Wallonia
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21572B0322/00X000 | Brussels | 272 m² | 1 · 82 m² | 20.2 m · 5 fl. |
| 25763K0053/00_000 | Wallonia | 19 m² | 1 · 22 m² | 18.0 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels 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.
Structure & network
Owners and holdings
1 ownerChain of control
- CAP PROPERTIES
- MEMCO
Highest known parent: CAP PROPERTIES. The sources do not say who stands above it.
Owners 1
- CAP PROPERTIESparent93.2%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 9,699 companies in sector 68121 we hold annual accounts for 7,385. 3,532 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded09-05-1994
Fiscal year end31-12
Activities, NACEBEL 2025
68121Development of residential building projects
68122Development of non-residential building projects
41001General construction of residential buildings
41003General construction of other non-residential buildings
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0452677224
Registered
16-01-2026
Register as of 26 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.