MF SOLID CONSTRUCT
ActiveSummary
The computed 12-month bankruptcy probability of MF SOLID CONSTRUCT is 4.8% (elevated). The annual accounts of MF SOLID CONSTRUCT for fiscal year 2025 show a net loss of 50% of total assets. The 2025 annual accounts show equity of €6,984 and a net result of -€3,734. Equity is growing by ~18.8% per year across the filed fiscal years. Its solvency ranks better than 95% 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
Profitability28▼-64
Solvency100▲+25
Growth35▼-29
Track record100
Bankruptcy probability, 12 months
4.8%
Elevated
0%0.5%1.5%4%10%≥ 25%
No publishable credit limit; credit only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity ample (current ratio 9.24 against 1.34 in 2024; short-term debt: 6% and cash: 3.2% of total assets), and 6% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
+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 →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
94%
Return on assets
-50.3%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 26-06-2026, 35 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
35 d early
2024
28 d early
2023
59 d late
2022
21 d late
2021
33 d late
2020
51 d late
← 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 17 days after 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 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
€8,480▼ 73.6%
2024 · €32,120
EBIT margin
-42.3%▼ 55.6pp
2024 · 13.3%
Net result
-€3,734
2024 · €3,361
Working capital
€3,659▲ 2.3%
2024 · €3,576
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
Turnover€51,063▲ 187%€13,435▼ 73.7%€45,625▲ 240%€32,120▼ 29.6%€8,480▼ 73.6%
Operating result-€1,055-€2,481▼ 135%€4,169€4,272▲ 2.5%-€3,590
Net result-€2,100below the sector's middle half-€2,589below the sector's middle half▼ 23.3%€3,957within the sector's middle half€3,361within the sector's middle half▼ 15.1%-€3,734below the sector's middle half
EBIT margin-2.1%▼ 27.5pp-18.5%▼ 16.4pp9.1%▲ 27.6pp13.3%▲ 4.2pp-42.3%▼ 55.6pp
Equity€5,989below the sector's middle half▲ 36.5%€3,400below the sector's middle half▼ 43.2%€7,357below the sector's middle half▲ 116%€10,718below the sector's middle half▲ 45.7%€6,984below the sector's middle half▼ 34.8%
Total assets€14,454below the sector's middle half▲ 63.3%€3,661below the sector's middle half▼ 74.7%€41,848below the sector's middle half▲ 1,043%€21,230below the sector's middle half▼ 49.3%€7,428below the sector's middle half▼ 65.0%
Debt€8,465▲ 89.7%€261▼ 96.9%€34,491▲ 13,115%€10,512▼ 69.5%€444▼ 95.8%
Working capital€2,789below the sector's middle half€3,400below the sector's middle half▲ 21.9%-€3,601below the sector's middle half€3,576below the sector's middle half€3,659below the sector's middle half▲ 2.3%
Solvency41.4%within the sector's middle half▼ 8.1pp17.6%below the sector's middle half50.5%within the sector's middle half▲ 32.9pp94.0%above the sector's middle half▲ 43.5pp
Current ratio1.33within the sector's middle half▲ 0.420.90below the sector's middle half1.34within the sector's middle half▲ 0.449.24above the sector's middle half▲ 7.90
Return on assets (ROA)-14.5%below the sector's middle half▼ 64.1pp9.5%within the sector's middle half15.8%within the sector's middle half▲ 6.4pp-50.3%below the sector's middle half▼ 66.1pp
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 turns negative in 2025: a loss of €3,590 after €4,272 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €7,428
Fixed assets
€3,325 ▼ 53.4%
Current assets
€4,103 ▼ 70.9%
Equity and liabilities €7,428
Equity
€6,984 ▼ 34.8%
Debt
€444 ▼ 95.8%
Debt's share of the balance-sheet total falls from 49.5% to 6.0%. Equity and debt are lower.
Key figures and ratios
EBITDA
€227▼
2024 · €8,088
Cash flow
€83▼
2024 · €7,177
Debt to equity
0.06▼
2024 · 0.98
ROE
-53.5%▼
2024 · 31.4%
Interest coverage
3.15▼
2024 · 120.72
Debt ≤ 1 year
€444▼
2024 · €10,512
Income taxes
€72▼
2024 · €845
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,597 companies that looked in July 2024 the way this one looks now, 2.8% went bankrupt within 24 months and 87% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a loss of 10% of the balance sheet or more
2.8%
went bankrupt
9.2%
stopped otherwise
87%
still going
A further 0.8% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 4.8% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
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 3,597 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 |
|---|---|---|---|---|---|---|
| Turnover70 | €51,063 | €13,435 | €45,625 | €32,120 | €8,480 | ▼ 73.6% |
| Non-recurring operating income76A | - | €110 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,600 | - | €491 | €3,816 | €3,817 | = |
| Other operating charges640/8 | €176 | €1,950 | - | €269 | €570 | ▲ 112% |
| Gross operating margin9900 | €721 | -€531 | €4,660 | €8,357 | €797 | ▼ 90.5% |
| Operating profit (loss)9901 | -€1,055 | -€2,481 | €4,169 | €4,272 | -€3,590 | ▼ 184% |
| Financial income75/76B | - | - | - | €1 | - | - |
| Recurring financial income75 | - | - | - | €1 | - | - |
| Financial charges65/66B | €13 | €108 | €88 | €67 | €72 | ▲ 7.5% |
| Recurring financial charges65 | €13 | €108 | €88 | €67 | €72 | ▲ 7.5% |
| Profit (loss) for the period before taxes9903 | -€1,068 | -€2,589 | €4,081 | €4,206 | -€3,662 | ▼ 187% |
| Income taxes67/77 | €1,032 | - | €124 | €845 | €72 | ▼ 91.5% |
| Profit (loss) for the period9904 | -€2,100 | -€2,589 | €3,957 | €3,361 | -€3,734 | ▼ 211% |
| Profit (loss) for the period to be appropriated9905 | -€2,100 | -€2,589 | €3,957 | €3,361 | -€3,734 | ▼ 211% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €14,454 | €3,661 | €41,848 | €21,230 | €7,428 | ▼ 65.0% |
| Fixed assets21/28 | €3,200 | - | €10,958 | €7,142 | €3,325 | ▼ 53.4% |
| Tangible fixed assets22/27 | €3,200 | - | €10,958 | €7,142 | €3,325 | ▼ 53.4% |
| Furniture and vehicles24 | €3,200 | - | €10,958 | €7,142 | €3,325 | ▼ 53.4% |
| Current assets29/58 | €11,254 | €3,661 | €30,890 | €14,088 | €4,103 | ▼ 70.9% |
| Amounts receivable within one year40/41 | €11,042 | €3,622 | €30,890 | €13,800 | €3,735 | ▼ 72.9% |
| Trade receivables40 | €10,285 | €2 | €28,409 | €13,176 | €2,676 | ▼ 79.7% |
| Other amounts receivable41 | €757 | €3,620 | €2,481 | €624 | €1,059 | ▲ 69.7% |
| Cash at bank and in hand54/58 | €212 | €39 | - | €154 | €234 | ▲ 51.9% |
| Deferred charges and accrued income490/1 | - | - | - | €134 | €134 | = |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €14,454 | €3,661 | €41,848 | €21,230 | €7,428 | ▼ 65.0% |
| Equity10/15 | €5,989 | €3,400 | €7,357 | €10,718 | €6,984 | ▼ 34.8% |
| Contributions10/11 | €3,700 | €3,700 | €3,700 | €3,700 | €3,700 | = |
| Profit (loss) carried forward14 | €2,289 | -€300 | €3,657 | €7,018 | €3,284 | ▼ 53.2% |
| Amounts payable17/49 | €8,465 | €261 | €34,491 | €10,512 | €444 | ▼ 95.8% |
| Amounts payable within one year42/48 | €8,465 | €261 | €34,491 | €10,512 | €444 | ▼ 95.8% |
| Financial debts43 | - | - | €5 | - | - | - |
| Credit institutions430/8 | - | - | €5 | - | - | - |
| Trade debts44 | €6,283 | €84 | €18,736 | €6,049 | €266 | ▼ 95.6% |
| Suppliers440/4 | €6,283 | €84 | €18,736 | €6,049 | €266 | ▼ 95.6% |
| Advances received on contracts in progress46 | - | - | €5,214 | - | - | - |
| Taxes, remuneration and social security45 | €1,600 | €177 | €302 | €1,048 | €178 | ▼ 83.0% |
| Taxes450/3 | - | €177 | €302 | €1,048 | €178 | ▼ 83.0% |
| Remuneration and social security454/9 | €1,600 | - | - | - | - | - |
| Other amounts payable47/48 | €582 | - | €10,234 | €3,415 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€2,100 | -€2,589 | €3,957 | €3,361 | -€3,734 | ▼ 211% |
| + Depreciation and write-downs630 | €1,600 | - | €491 | €3,816 | €3,817 | = |
| Operating cash flow (approximation) | -€500 | -€2,589 | €4,448 | €7,177 | €83 | ▼ 98.8% |
| Investment in fixed assets (approximation) | - | - | - | €0 | €0 | - |
| Change in cash | - | -€173 | - | - | €80 | - |
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
26-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet -€3,734
Net result drops to -€3,734, the lowest in the series.
31-12
Financial
Liquidity times 7current ratio 9.24
Current ratio from 1.34 to 9.24; short-term debt falls from €10,512 to €444.
03-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
28-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 59 days late
2023
31-12
Financial
Back to profitnet €3,957
Net result €3,957 after 2 loss-making years.
21-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 21 days late
2022
31-12
Financial
Liquidity times 11current ratio 14.03
Current ratio from 1.33 to 14.03; short-term debt falls from €8,465 to €261.
02-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 33 days late
2021
20-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 51 days late
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, Anderlecht · 1 establishment unit since 2020
Ground area
3,755 m²
Building footprint
963 m²
Volume, LiDAR
14,960 m³
Parcel 21305C0319/00E004, Brussels · tallest building 18.3 m, ±5 floors. Linked by address, not a title deed.
11
companies at this address
See who is registered here
1 establishment unit
MF SOLID CONSTRUCT
since 20202.304.419.991
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21305C0319/00E004 | Brussels | 3,755 m² | 1 · 963 m² | 18.3 m · 5 fl. |
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 15,521 companies in sector 43990 we hold annual accounts for 7,423. 3,370 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
Founded05-12-2019
Fiscal year end31-12
Activities, NACEBEL 2025
43990Other specialised construction activities
E-invoicing
Reachable via Peppol
Peppol ID
9925:BE0738793372
Registered
19-12-2025
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.