MF Elec
ActiveSummary
The computed 12-month bankruptcy probability of MF Elec is 2.1% (moderate). The 2025 annual accounts show equity of €50,300 and a net result of €3,013. Equity is growing by ~21% per year across the filed fiscal years. Its solvency ranks better than 73% of 28254 sector peers (fiscal year 2025). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability74▼-15
Solvency94▼-6
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
2.1%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €3,500 at 30 days acceptable
Liquidity ample (current ratio 3.03 against 3.96 in 2024; short-term debt: 30.7% and cash: 79.1% of total assets), and 31.3% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
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 · 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
68.7%
Return on assets
4.1%
Age of the figures
12 mo
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 27-03-2026, 34 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
34 d early
2024
54 d early
2023
63 d early
2022
54 d early
2021
57 d early
2020
58 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 53 days before 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 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
28-09-2026 today30-09-2026 close30-04-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€50,300▼ 16.9%
2024 · €60,557
Total assets
€73,199▼ 6.2%
2024 · €78,005
Net result
€3,013▼ 76.0%
2024 · €12,577
Working capital
€45,561▼ 9.8%
2024 · €50,531
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€10,412▼ 39.0%€28,252▲ 171%€30,363▲ 7.5%€18,178▼ 40.1%€10,093▼ 44.5%
Net result€5,026within the sector's middle half▼ 56.3%€18,758within the sector's middle half▲ 273%€20,807within the sector's middle half▲ 10.9%€12,577within the sector's middle half▼ 39.6%€3,013within the sector's middle half▼ 76.0%
Equity€22,533within the sector's middle half▲ 28.7%€41,290within the sector's middle half▲ 83.2%€62,097within the sector's middle half▲ 50.4%€60,557within the sector's middle half▼ 2.5%€50,300within the sector's middle half▼ 16.9%
Total assets€58,084below the sector's middle half▲ 7.9%€59,947below the sector's middle half▲ 3.2%€86,345within the sector's middle half▲ 44.0%€78,005within the sector's middle half▼ 9.7%€73,199within the sector's middle half▼ 6.2%
Debt€35,551▼ 2.1%€18,657▼ 47.5%€24,248▲ 30.0%€17,448▼ 28.0%€22,899▲ 31.2%
Working capital€18,054within the sector's middle half€29,942within the sector's middle half▲ 65.8%€50,359within the sector's middle half▲ 68.2%€50,531within the sector's middle half▲ 0.3%€45,561within the sector's middle half▼ 9.8%
Solvency38.8%within the sector's middle half▲ 6.3pp68.9%above the sector's middle half▲ 30.1pp71.9%above the sector's middle half▲ 3.0pp77.6%above the sector's middle half▲ 5.7pp68.7%within the sector's middle half▼ 8.9pp
Current ratio2.89within the sector's middle half▲ 2.285.93above the sector's middle half▲ 3.043.96above the sector's middle half▼ 1.973.96above the sector's middle half▲ 0.013.03within the sector's middle half▼ 0.94
Return on assets (ROA)8.7%within the sector's middle half▼ 12.7pp31.3%above the sector's middle half▲ 22.6pp24.1%above the sector's middle half▼ 7.2pp16.1%within the sector's middle half▼ 8.0pp4.1%within the sector's middle half▼ 12.0pp
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 44% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €73,199
Fixed assets
€5,138 ▼ 50.6%
Current assets
€68,061 ▲ 0.7%
Equity and liabilities €73,199
Equity
€50,300 ▼ 16.9%
Debt
€22,899 ▲ 31.2%
Debt's share of the balance-sheet total rises from 22.4% to 31.3%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€15,365▼
2024 · €23,885
Cash flow
€8,284▼
2024 · €18,284
Quick ratio
2.77▼
2024 · 3.76
Debt to equity
0.46▲
2024 · 0.29
ROE
6.0%▼
2024 · 20.8%
Interest coverage
9.66▼
2024 · 20.56
Debt ≤ 1 year
€22,499▲
2024 · €17,064
Income taxes
€5,498▲
2024 · €4,697
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 5,049 companies that looked in July 2024 the way this one looks now, 2.0% went bankrupt within 24 months and 94% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
2.0%
went bankrupt
3.7%
stopped otherwise
94%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 2.1% 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 497,662 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% | 1.7% |
| 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 75% 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 5,049 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,073 | €5,914 | €6,206 | €5,706 | €5,271 | ▼ 7.6% |
| Other operating charges640/8 | - | €964 | €2,840 | €1,135 | €3,582 | ▲ 216% |
| Non-recurring operating charges66A | - | - | - | €2,829 | - | - |
| Gross operating margin9900 | €18,801 | €35,129 | €39,409 | €27,849 | €18,947 | ▼ 32.0% |
| Operating profit (loss)9901 | €10,412 | €28,252 | €30,363 | €18,178 | €10,093 | ▼ 44.5% |
| Financial income75/76B | - | €35 | - | €258 | €8 | ▼ 96.9% |
| Recurring financial income75 | €0 | €35 | - | €258 | €8 | ▼ 96.9% |
| Financial charges65/66B | - | €2,197 | €1,644 | €1,162 | €1,591 | ▲ 37.0% |
| Recurring financial charges65 | €2,216 | €2,197 | €1,644 | €1,162 | €1,591 | ▲ 37.0% |
| Profit (loss) for the period before taxes9903 | €8,196 | €26,089 | €28,719 | €17,275 | €8,510 | ▼ 50.7% |
| Income taxes67/77 | €3,170 | €7,332 | €7,912 | €4,697 | €5,498 | ▲ 17.0% |
| Profit (loss) for the period9904 | €5,026 | €18,758 | €20,807 | €12,577 | €3,013 | ▼ 76.0% |
| Profit (loss) for the period to be appropriated9905 | €5,026 | €18,758 | €20,807 | €12,577 | €3,013 | ▼ 76.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €58,084 | €59,947 | €86,345 | €78,005 | €73,199 | ▼ 6.2% |
| Fixed assets21/28 | €30,479 | €23,926 | €18,945 | €10,410 | €5,138 | ▼ 50.6% |
| Intangible fixed assets21 | €24,999 | €19,997 | €14,996 | €9,994 | €4,993 | ▼ 50.0% |
| Tangible fixed assets22/27 | €5,480 | €3,704 | €3,950 | €416 | €146 | ▼ 64.9% |
| Plant, machinery and equipment23 | - | €1,826 | €3,950 | €416 | €146 | ▼ 64.9% |
| Furniture and vehicles24 | - | €1,879 | - | - | - | - |
| Financial fixed assets28 | - | €225 | - | - | - | - |
| Current assets29/58 | €27,605 | €36,021 | €67,400 | €67,595 | €68,061 | ▲ 0.7% |
| Stocks and contracts in progress3 | €6,322 | €4,954 | €5,126 | €3,470 | €5,642 | ▲ 62.6% |
| Stocks30/36 | - | €4,954 | €5,126 | €3,470 | €5,642 | ▲ 62.6% |
| Amounts receivable within one year40/41 | €8,183 | €5,355 | €9,805 | €14,264 | €3,603 | ▼ 74.7% |
| Trade receivables40 | - | €3,035 | €7,901 | €10,962 | €3,540 | ▼ 67.7% |
| Other amounts receivable41 | - | €2,320 | €1,904 | €3,303 | €62 | ▼ 98.1% |
| Cash at bank and in hand54/58 | €12,755 | €24,532 | €51,250 | €49,498 | €57,919 | ▲ 17.0% |
| Deferred charges and accrued income490/1 | - | €1,180 | €1,219 | €363 | €897 | ▲ 147% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €58,084 | €59,947 | €86,345 | €78,005 | €73,199 | ▼ 6.2% |
| Equity10/15 | €22,533 | €41,290 | €62,097 | €60,557 | €50,300 | ▼ 16.9% |
| Contributions10/11 | - | €6,000 | €6,000 | €6,000 | €6,000 | = |
| Reserves13 | €15,000 | €33,500 | €54,300 | €54,300 | €44,300 | ▼ 18.4% |
| Distributable reserves133 | - | €33,500 | €54,300 | €54,300 | €44,300 | ▼ 18.4% |
| Profit (loss) carried forward14 | €1,533 | €1,790 | €1,797 | €257 | - | - |
| Amounts payable17/49 | €35,551 | €18,657 | €24,248 | €17,448 | €22,899 | ▲ 31.2% |
| Amounts payable after more than one year17 | €25,000 | €11,500 | €6,500 | - | - | - |
| Financial debts170/4 | - | €11,500 | €6,500 | - | - | - |
| Amounts payable within one year42/48 | €9,551 | €6,079 | €17,041 | €17,064 | €22,499 | ▲ 31.9% |
| Trade debts44 | €7,128 | €1,531 | €12,943 | €2,104 | €5,063 | ▲ 141% |
| Suppliers440/4 | - | €1,531 | €12,943 | €2,104 | €5,063 | ▲ 141% |
| Taxes, remuneration and social security45 | - | €4,332 | €3,912 | €176 | €1,498 | ▲ 751% |
| Taxes450/3 | - | €4,332 | €3,912 | €176 | €1,498 | ▲ 751% |
| Other amounts payable47/48 | - | €217 | €186 | €14,783 | €15,938 | ▲ 7.8% |
| Accrued charges and deferred income492/3 | - | €1,078 | €708 | €384 | €400 | ▲ 4.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €5,026 | €18,758 | €20,807 | €12,577 | €3,013 | ▼ 76.0% |
| + Depreciation and write-downs630 | €6,073 | €5,914 | €6,206 | €5,706 | €5,271 | ▼ 7.6% |
| Operating cash flow (approximation) | €11,098 | €24,671 | €27,013 | €18,284 | €8,284 | ▼ 54.7% |
| Investment in fixed assets (approximation) | - | €639 | -€1,225 | €2,829 | €0 | ▼ 100% |
| Change in cash | - | €11,777 | €26,718 | -€1,752 | €8,421 | ▲ 581% |
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
27-03
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-09
Financial
Weakest financial yearnet €3,013 ▼76%
Net result drops to €3,013, the lowest in the series.
07-03
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
27-02
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-09
Financial
Highest result since 2020net €20,807 ▲10.9%
Operating result €30,363, net result €20,807, both a record.
07-03
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-09
Financial
Liquidity doublescurrent ratio 5.93
Current ratio from 2.89 to 5.93; short-term debt falls from €9,551 to €6,079.
04-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-09
Financial
Liquidity times 5current ratio 2.89
Current ratio from 0.61 to 2.89; short-term debt falls from €36,304 to €9,551.
03-03
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Somme-Leuze · 1 establishment unit since 2019
Ground area
969 m²
Building footprint
124 m²
Parcel 91120A0792/00M000, Wallonia. Linked by address, not a title deed.
1 establishment unit
Rue du Tilleul 14, 5377 Somme-Leuze
since 20192.295.623.081
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 91120A0792/00M000 | Wallonia | 969 m² | 1 · 124 m² | - |
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.
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Of 22,831 companies in sector 43211 we hold annual accounts for 10,335. 8,576 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
Founded08-11-2019
Fiscal year end30-09
Activities, NACEBEL 2025
43211General electrical installation work
Contact
Phone
+320000000
E-invoicing
Reachable via Peppol
Peppol ID
0208:0737568697
Also
9925:BE0737568697
Registered
27-10-2025
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.