MESTDAGH

Active

Public limited companyfounded 197946 yrs activeKoksijdestraat 17, 8630 Veurne, BelgiumKBO/BCE: BE 0419.817.087

MESTDAGH has been active since 1979 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €320k and a net result of €-205k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 33% of 800 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).

Watch Print / PDF

Checked score

Score 2025

47 / 100

Fair

The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability2▲+2

Solvency46▲+39

Growth32=

Track record100

Bankruptcy probability, 12 months

0.4% Very low

0%0.5%1.5%4%10%≥ 25%

Credit up to €15k at 30 days acceptable

Liquidity ample (current ratio 1.61 against 0.65 in 2024; short-term debt: 44.1% and cash: 2.4% of total assets), but 79.2% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Six signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

Higher-failure-rate sector

In this sector companies fail more often than the Belgian average.

Gazette · bankruptcies per sector, NACE 10

Relative position

BE, all sectors

reference

Sector 10

higher

← fewer bankruptcies more bankruptcies →

Lower-risk legal form

Companies with this legal form statistically fail less often than a BV.

KBO · legal form

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 02-06-2026, 59 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

59 d early

2024

139 d early

2023

21 d early

2022

26 d early

2021

27 d early

2020

22 d early

2019

93 d early

← before the deadline after the deadline →

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 months

Position in the running window

22-09-2026 today31-12-2026 close31-07-2027 deadline

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2025, abbreviated schema

Equity

€320k

2024 · €-324k

2018: €321k 2019: €436k 2020: €593k 2021: €383k 2022: €493k 2023: €230k 2024: €-324k

2018 → 2025

Total assets

€1.54M▼ 14.6%

2024 · €1.80M

2018: €1.95M 2019: €1.88M 2020: €1.98M 2021: €2.40M 2022: €2.49M 2023: €2.13M 2024: €1.80M

2018 → 2025

Net result

€-205k▲ 47.3%

2024 · €-390k

2018: €-60k 2019: €115k 2020: €157k 2021: €-210k 2022: €110k 2023: €-262k 2024: €-390k

2018 → 2025

Working capital

€417k

2024 · €-714k

2018: €66k 2019: €239k 2020: €252k 2021: €389k 2022: €390k 2023: €-200k 2024: €-714k

2018 → 2025

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20212022202320242025Trend

Equity€383k-€493k▲ 28.6%€230k▼ 53.3%€-324k€320k

Operating result€-190k-€137k€-232k€-349k▼ 50.1%€-162k▲ 53.7%

Net result€-210k-€110k€-262k€-390k▼ 48.6%€-205k▲ 47.3%

Turnover and EBIT margin not published: the abbreviated schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result stays negative: a loss of €162k in 2025 against €349k in 2024; the loss shrinks.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €1.54M

28.8%

71.2%

Fixed assets €444k▼ 8.9%

Current assets €1.10M▼ 16.7%

Equity and liabilities €1.54M

20.8%

79.2%

Equity €320k

Debt €1.22M

Debt finances 79.2% of the balance-sheet total.

Key figures and ratios

2025 value · change against 2024

EBITDA

€-31k▲

2024 · €-197k

Cash flow

€-75k▲

2024 · €-238k

Solvency

20.8%▲

2024 · -18.0%

Current ratio

1.61▲

2024 · 0.65

Quick ratio

0.92▲

2024 · 0.35

Debt / equity

3.81▲

2024 · -6.56

ROE

-64.2%

ROA

-13.3%▲

2024 · -21.6%

Interest coverage

-0.66▲

2024 · -4.80

Debt

€1.22M▼

2024 · €2.13M

Debt ≤ 1 year

€679k▼

2024 · €2.03M

Debt > 1 year

€536k▲

2024 · €83k

Income taxes

€708▲

2024 · €675

Staff costs

€696k▼

2024 · €784k

Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.

Filed annual accounts

As filed with the NBB · 2025 against 2024

Balance sheet Code20242025

Assets

Total assets20/58€1.80M€1.54M▼

Fixed assets21/28€487k€444k▼

Intangible fixed assets21€40k€24k▼

Tangible fixed assets22/27€446k€419k▼

Land and buildings22€0-

Plant, machinery and equipment23€387k€357k▼

Furniture and vehicles24€55k€59k▲

Other tangible fixed assets26€4k€3k▼

Financial fixed assets28€600€600=

Current assets29/58€1.32M€1.10M▼

Stocks and contracts in progress3€616k€472k▼

Stocks30/36€616k€472k▼

Amounts receivable within one year40/41€645k€564k▼

Trade receivables40€627k€562k▼

Other amounts receivable41€17k€2k▼

Cash at bank and in hand54/58€28k€37k▲

Deferred charges and accrued income490/1€28k€23k▼

Equity and liabilities

Total equity and liabilities10/49€1.80M€1.54M▼

Equity10/15€-324k€320k▲

Contributions10/11€62k€912k▲

Capital10€62k€912k▲

Issued capital100€62k€912k▲

Reserves13€4k€4k=

Non-distributable reserves130/1€4k€4k=

Legal reserve130€4k€4k=

Tax-exempt reserves132€66€66=

Distributable reserves133€0-

Profit (loss) carried forward14€-390k€-595k▼

Amounts payable17/49€2.13M€1.22M▼

Amounts payable after more than one year17€83k€536k▲

Financial debts170/4€83k€536k▲

Amounts payable within one year42/48€2.03M€679k▼

Current portion of amounts payable after more than one year42€184k€71k▼

Financial debts43€300k€300k=

Credit institutions430/8€300k€300k=

Trade debts44€173k€150k▼

Suppliers440/4€173k€150k▼

Taxes, remuneration and social security45€104k€113k▲

Taxes450/3€18k€38k▲

Remuneration and social security454/9€86k€75k▼

Other amounts payable47/48€1.27M€45k▼

Accrued charges and deferred income492/3€15k€5k▼

Income statement Code20242025

Non-recurring operating income76A€4k€0▼

Remuneration, social security and pensions62€784k€696k▼

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€152k€130k▼

Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€4k€-10k▼

Other operating charges640/8€20k€6k▼

Non-recurring operating charges66A-€2k

Gross operating margin9900€612k€663k▲

Operating profit (loss)9901€-349k€-162k▲

Financial income75/76B€213€5k▲

Recurring financial income75€213€5k▲

Financial charges65/66B€41k€48k▲

Recurring financial charges65€41k€48k▲

Profit (loss) for the period before taxes9903€-389k€-205k▲

Income taxes67/77€675€708▲

Profit (loss) for the period9904€-390k€-205k▲

Profit (loss) for the period to be appropriated9905€-390k€-205k▲

Appropriation of the result

Profit (loss) to be appropriated9906€-390k€-595k▼

Profit (loss) brought forward from the previous period14P-€-390k

Transfer from equity791/2€0-

Social balance

Average headcount (FTE)908714.612.8▼

The notes to these accounts (24 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Download as CSV

Timeline · acts, filings and financial milestones

All 17Financial 7Filings 10

Next filing, fiscal year 2026, expected by 31-07-2027

2026

02-06

NBB filing Annual accounts filed

fiscal year 2025 · abbreviated schema

2025

31-12

Financial Liquidity doublescurrent ratio 1.61

Current ratio from 0.65 to 1.61; short-term debt falls from €2.03M to €679k.

31-12

Financial Equity above €200kEq €320k

Equity rises from €-324k to €320k.

14-03

NBB filing Annual accounts filed

fiscal year 2024 · abbreviated schema

2024

31-12

Financial Weakest financial yearnet €-390k

Net result drops to €-390k, the lowest in the series; recovery starts the following year.

10-07

NBB filing Annual accounts filed

fiscal year 2023 · abbreviated schema

2023

05-07

NBB filing Annual accounts filed

fiscal year 2022 · abbreviated schema

2022

31-12

Financial Back to profitnet €110k

Net result €110k after one loss-making year.

04-07

NBB filing Annual accounts filed

fiscal year 2021 · abbreviated schema

2021

09-07

NBB filing Annual accounts filed

fiscal year 2020 · abbreviated schema

2020

31-12

Financial Highest result since 2018net €157k ▲35.9%

Operating result €190k, net result €157k, both a record.

31-12

Financial Equity above €500kEq €593k ▲36%

2 profitable years in a row build equity to €593k.

29-04

NBB filing Annual accounts filed

fiscal year 2019 · abbreviated schema

2019

31-12

Financial Back to profitnet €115k

Net result €115k after one loss-making year.

03-06

NBB filing Annual accounts filed

fiscal year 2018 · abbreviated schema

2018

11-04

NBB filing Annual accounts filed

fiscal year 2017 · abbreviated schema

2017

04-05

NBB filing Annual accounts filed

fiscal year 2016 · abbreviated schema

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

15 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, Veurne · 1 establishment unit since 1979

establishment The establishment unit on the map

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Koksijdestraat 178630 Veurne

Ground area

2,386 m²

Building footprint

1,211 m²

Volume, LiDAR

8,162 m³