MENUISERIE SG CONCEPT
ActiveSummary
MENUISERIE SG CONCEPT has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €59k and a net result of €6k. Equity is growing by ~7.3% per year across the filed fiscal years. Its solvency ranks better than 14% of 27965 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability53▼-17
Solvency35▼-13
Growth78=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3k at 30 days acceptable
Liquidity short (current ratio 0.7 against 1.13 in 2024; short-term debt: 18.6% and cash: 9.7% of total assets), and 90% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six 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 →
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
10%
Return on assets
1%
Age of the figures
12 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 14% of 27965 sector peers (2025).
NBB · sector comparisonPosition among 27965 sector peers
Solvency
better than 14%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 19-03-2026, 42 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
42 d early
2024
7 d early
2023
46 d early
2022
3 d early
2021
5 d early
2020
64 d early
2019
133 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€59k▲ 11.3%
2024 · €53k
2018: €37k
2019: €39k▲ +5.8% vs 2018
2020: €33k▼ -14.6% vs 2019lowest in 8 years
2021: €42k▲ +27.4% vs 2020
2022: €49k▲ +16.3% vs 2021
2023: €51k▲ +3.6% vs 2022
2024: €53k▲ +5.1% vs 2023
2025: €59k▲ +11.3% vs 2024highest in 8 years
2018 → 2025
Total assets
€592k▲ 156%
2024 · €231k
2018: €224k
2019: €223k▼ -0.3% vs 2018
2020: €253k▲ +13.5% vs 2019
2021: €250k▼ -1.2% vs 2020
2022: €236k▼ -5.7% vs 2021
2023: €199k▼ -15.6% vs 2022lowest in 8 years
2024: €231k▲ +16.0% vs 2023
2025: €592k▲ +156% vs 2024highest in 8 years
2018 → 2025
Net result
€6k▲ 132%
2024 · €3k
2018: €-2k
2019: €2k▲ +234% vs 2018
2020: €-6k▼ -366% vs 2019lowest in 8 years
2021: €10k▲ +278% vs 2020highest in 8 years
2022: €7k▼ -31.8% vs 2021
2023: €2k▼ -73.9% vs 2022
2024: €3k▲ +44.7% vs 2023
2025: €6k▲ +132% vs 2024
2018 → 2025
Working capital
€-33k
2024 · €15k
2018: €-8k
2019: €-1k▲ +83.9% vs 2018
2020: €-16k▼ -1239% vs 2019
2021: €3k▲ +116% vs 2020
2022: €3k▲ +21.6% vs 2021
2023: €5k▲ +45.6% vs 2022
2024: €15k▲ +241% vs 2023highest in 8 years
2025: €-33k▼ -315% vs 2024lowest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€42k-€49k▲ 16.3%€51k▲ 3.6%€53k▲ 5.1%€59k▲ 11.3%
2021: €42klowest in 5 years
2022: €49k▲ +16.3% vs 2021
2023: €51k▲ +3.6% vs 2022
2024: €53k▲ +5.1% vs 2023
2025: €59k▲ +11.3% vs 2024highest in 5 years
Operating result€14k-€12k▼ 13.8%€5k▼ 56.2%€8k▲ 44.3%€23k▲ 196%
2021: €14k
2022: €12k▼ -13.8% vs 2021
2023: €5k▼ -56.2% vs 2022lowest in 5 years
2024: €8k▲ +44.3% vs 2023
2025: €23k▲ +196% vs 2024highest in 5 years
Net result€10k-€7k▼ 31.8%€2k▼ 73.9%€3k▲ 44.7%€6k▲ 132%
2021: €10khighest in 5 years
2022: €7k▼ -31.8% vs 2021
2023: €2k▼ -73.9% vs 2022lowest in 5 years
2024: €3k▲ +44.7% vs 2023
2025: €6k▲ +132% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 196% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €592k
Fixed assets
€515k ▲ 434%
Current assets
€77k ▼ 42.8%
Equity and liabilities €592k
Equity
€59k ▲ 11.3%
Provisions
€25k ▲ 150%
Debt
€508k ▲ 203%
Debt's share of the balance-sheet total rises from 72.5% to 85.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€54k▲
2024 · €23k
Cash flow
€37k▲
2024 · €18k
Current ratio
0.70▼
2024 · 1.13
Quick ratio
0.59▼
2024 · 0.93
Debt to equity
8.54▲
2024 · 3.14
ROE
10.1%▲
2024 · 4.8%
ROA
1.0%▼
2024 · 1.1%
Interest coverage
3.93▼
2024 · 8.07
Debt ≤ 1 year
€110k▼
2024 · €119k
Debt > 1 year
€397k▲
2024 · €49k
Income taxes
€3k▲
2024 · €2k
Staff costs
€43k▲
2024 · €13k
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 · 2025 against 2024 · 56 lines
Balance sheet
Code20242025
Assets
Total assets20/58€231k€592k▲
Fixed assets21/28€96k€515k▲
Tangible fixed assets22/27€95k€515k▲
Land and buildings22€63k€483k▲
Plant, machinery and equipment23€16k€28k▲
Furniture and vehicles24€6k€3k▼
Assets under construction and advance payments27€10k-
Financial fixed assets28€2k€714▼
Current assets29/58€135k€77k▼
Stocks and contracts in progress3€24k€12k▼
Stocks30/36€24k€12k▼
Amounts receivable within one year40/41€14k€2k▼
Trade receivables40€10k€449▼
Other amounts receivable41€4k€2k▼
Cash at bank and in hand54/58€93k€58k▼
Deferred charges and accrued income490/1€4k€5k▲
Equity and liabilities
Total equity and liabilities10/49€231k€592k▲
Equity10/15€53k€59k▲
Contributions10/11€19k€19k=
Reserves13€4k€10k▲
Distributable reserves133€4k€10k▲
Profit (loss) carried forward14€30k€30k=
Provisions and deferred taxes16€10k€25k▲
Provisions for liabilities and charges160/5€10k€25k▲
Other liabilities and charges164/5€10k€25k▲
Amounts payable17/49€168k€508k▲
Amounts payable after more than one year17€49k€397k▲
Financial debts170/4€46k€395k▲
Other amounts payable178/9€2k€2k=
Amounts payable within one year42/48€119k€110k▼
Current portion of amounts payable after more than one year42€6k€27k▲
Trade debts44€20k€44k▲
Suppliers440/4€20k€44k▲
Advances received on contracts in progress46€79k€27k▼
Taxes, remuneration and social security45€9k€7k▼
Taxes450/3€9k€2k▼
Remuneration and social security454/9€274€5k▲
Other amounts payable47/48€4k€5k▲
Income statement
Code20242025
Remuneration, social security and pensions62€13k€43k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€15k€31k▲
Provisions for liabilities and charges: additions (uses and reversals)635/8€10k€15k▲
Other operating charges640/8€2k€10k▲
Gross operating margin9900€48k€122k▲
Operating profit (loss)9901€8k€23k▲
Financial income75/76B€17€76▲
Recurring financial income75€17€76▲
Financial charges65/66B€3k€14k▲
Recurring financial charges65€3k€14k▲
Profit (loss) for the period before taxes9903€5k€9k▲
Income taxes67/77€2k€3k▲
Profit (loss) for the period9904€3k€6k▲
Profit (loss) for the period to be appropriated9905€3k€6k▲
Appropriation of the result
Profit (loss) to be appropriated9906€33k€36k▲
Profit (loss) brought forward from the previous period14P€30k€30k▲
Transfer to equity691/2€3k€6k▲
To other reserves6921€3k€6k▲
The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €65k | €55k | €47k | €13k | €43k | ▲ 222% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €26k | €18k | €16k | €15k | €31k | ▲ 105% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | €10k | €15k | ▲ 50.0% |
| Other operating charges640/8 | €11k | €1k | €2k | €2k | €10k | ▲ 408% |
| Gross operating margin9900 | €117k | €86k | €70k | €48k | €122k | ▲ 153% |
| Operating profit (loss)9901 | €14k | €12k | €5k | €8k | €23k | ▲ 196% |
| Financial income75/76B | €71 | €12 | €57 | €17 | €76 | ▲ 355% |
| Recurring financial income75 | €71 | €12 | €57 | €17 | €76 | ▲ 355% |
| Financial charges65/66B | €3k | €2k | €2k | €3k | €14k | ▲ 384% |
| Recurring financial charges65 | €3k | €2k | €2k | €3k | €14k | ▲ 384% |
| Profit (loss) for the period before taxes9903 | €11k | €10k | €3k | €5k | €9k | ▲ 86.8% |
| Income taxes67/77 | €1k | €3k | €1k | €2k | €3k | ▲ 34.9% |
| Profit (loss) for the period9904 | €10k | €7k | €2k | €3k | €6k | ▲ 132% |
| Profit (loss) for the period to be appropriated9905 | €10k | €7k | €2k | €3k | €6k | ▲ 132% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €250k | €236k | €199k | €231k | €592k | ▲ 156% |
| Fixed assets21/28 | €120k | €111k | €99k | €96k | €515k | ▲ 434% |
| Tangible fixed assets22/27 | €120k | €105k | €95k | €95k | €515k | ▲ 444% |
| Land and buildings22 | €75k | €71k | €67k | €63k | €483k | ▲ 667% |
| Plant, machinery and equipment23 | €14k | €11k | €14k | €16k | €28k | ▲ 77.7% |
| Furniture and vehicles24 | €31k | €23k | €14k | €6k | €3k | ▼ 42.9% |
| Assets under construction and advance payments27 | - | - | - | €10k | - | - |
| Financial fixed assets28 | €500 | €6k | €4k | €2k | €714 | ▼ 62.8% |
| Current assets29/58 | €130k | €125k | €100k | €135k | €77k | ▼ 42.8% |
| Stocks and contracts in progress3 | €5k | €23k | €32k | €24k | €12k | ▼ 52.3% |
| Stocks30/36 | €5k | €23k | €32k | €24k | €12k | ▼ 52.3% |
| Amounts receivable within one year40/41 | €31k | €16k | €26k | €14k | €2k | ▼ 83.5% |
| Trade receivables40 | €24k | €11k | €10k | €10k | €449 | ▼ 95.4% |
| Other amounts receivable41 | €6k | €5k | €16k | €4k | €2k | ▼ 53.8% |
| Cash at bank and in hand54/58 | €88k | €81k | €38k | €93k | €58k | ▼ 37.9% |
| Deferred charges and accrued income490/1 | €6k | €5k | €4k | €4k | €5k | ▲ 50.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €250k | €236k | €199k | €231k | €592k | ▲ 156% |
| Equity10/15 | €42k | €49k | €51k | €53k | €59k | ▲ 11.3% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €2k | €2k | €2k | €4k | €10k | ▲ 138% |
| Non-distributable reserves130/1 | €2k | €2k | - | - | - | - |
| Reserves not available under the articles1311 | €2k | €2k | - | - | - | - |
| Distributable reserves133 | - | - | €2k | €4k | €10k | ▲ 138% |
| Profit (loss) carried forward14 | €22k | €29k | €30k | €30k | €30k | = |
| Provisions and deferred taxes16 | - | - | - | €10k | €25k | ▲ 150% |
| Provisions for liabilities and charges160/5 | - | - | - | €10k | €25k | ▲ 150% |
| Other liabilities and charges164/5 | - | - | - | €10k | €25k | ▲ 150% |
| Amounts payable17/49 | €208k | €187k | €148k | €168k | €508k | ▲ 203% |
| Amounts payable after more than one year17 | €81k | €65k | €53k | €49k | €397k | ▲ 719% |
| Financial debts170/4 | €81k | €65k | €53k | €46k | €395k | ▲ 753% |
| Other amounts payable178/9 | - | - | - | €2k | €2k | = |
| Amounts payable within one year42/48 | €127k | €122k | €96k | €119k | €110k | ▼ 7.4% |
| Current portion of amounts payable after more than one year42 | €16k | €16k | €12k | €6k | €27k | ▲ 318% |
| Trade debts44 | €10k | €22k | €20k | €20k | €44k | ▲ 120% |
| Suppliers440/4 | €10k | €22k | €20k | €20k | €44k | ▲ 120% |
| Advances received on contracts in progress46 | €95k | €79k | €61k | €79k | €27k | ▼ 66.3% |
| Taxes, remuneration and social security45 | €6k | €4k | €2k | €9k | €7k | ▼ 17.0% |
| Taxes450/3 | €6k | €4k | €2k | €9k | €2k | ▼ 75.2% |
| Remuneration and social security454/9 | - | - | - | €274 | €5k | ▲ 1,792% |
| Other amounts payable47/48 | €549 | €2k | €1k | €4k | €5k | ▲ 24.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €10k | €7k | €2k | €3k | €6k | ▲ 132% |
| + Depreciation and write-downs630 | €26k | €18k | €16k | €15k | €31k | ▲ 105% |
| Operating cash flow (approximation) | €36k | €24k | €17k | €18k | €37k | ▲ 109% |
| Investment in fixed assets (approximation) | - | €-8k | €-4k | €-13k | €-450k | ▼ 3,406% |
| Change in cash | - | €-7k | €-43k | €55k | €-35k | ▼ 164% |
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
19-03
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
23-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
15-03
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
27-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
25-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-09
Financial
Back to profitnet €10k
Net result €10k after one loss-making year.
25-02
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-09
Financial
Weakest financial yearnet €-6k
Net result drops to €-6k, the lowest in the series; recovery starts the following year.
2019
19-12
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
30-09
Financial
Back to profitnet €2k
Net result €2k after one loss-making year.
14-01
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
08-12
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
05-01
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 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, Messancy · 1 establishment unit since 2004
Ground area
2,513 m²
Building footprint
629 m²
Volume, LiDAR
4,938 m³
2 parcels, Wallonia · tallest building 11.7 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
MENUISERIE SG CONCEPT
since 20042.143.667.039
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 81008A0933/00F000 | Wallonia | 1,428 m² | 1 · 387 m² | 11.7 m · 3 fl. |
| 85026B3592/00A000 | Wallonia | 1,085 m² | 1 · 243 m² | 9.5 m · 3 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.
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Of 20,018 companies in sector 43320 we hold annual accounts for 9,132. 7,520 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
Founded18-11-2004
Fiscal year end30-09
Activities, NACEBEL 2025
43320Joinery installation
46832Wholesale of timber
Contact
Phone
0496/36 03 98Musson
Scores and ratios are computed by Checked and are not a credit decision.