Payment terms
Customers pay 35 days earlier.
Customers pay 35 days earlier.
Short-term debts fell from €10,512 to €444.
The 2023 accounts came latest: 59 days after the end of the period.
Less equity than 86% of companies in specialised construction. Sector median €57,716 · 35,168 companies.
The dashed line is the sector median: 0.7% across 47,696 companies (NACE 43, micro).
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 43, micro). It does better than 90% of them on solvency, 50% on liquidity, 16% on profitability and 7% on growth.
The bankruptcy probability was computed on 10-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the moderate class on 30-06-2025, 2.4% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 3,591 companies had the same profile as MF SOLID CONSTRUCT has now. Each dot stands for 9 companies, two years later.
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of MF SOLID CONSTRUCT itself: 1.8% within 12 months.
The method was tested on the 497,448 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 3,591 companies, not a prediction for MF SOLID CONSTRUCT. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity is ample, with a current ratio of 9.24 (1.34 in 2024), above the usual 1.5. Short-term debt is 6% and cash 3.2% of total assets. 6% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 6 accounts on average 17 days after the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| MF SOLID CONSTRUCT Anderlecht | €8,480 | -42.3% | 94.0% | - |
| MEDNES Koekelberg | - | - | -167.7% | - |
| rework Halen | €17,139 | 0.8% | -41.0% | - |
| BASSIN Merelbeke-Melle | - | - | -11.4% | - |
| RIMAYA FACADE Molenbeek-Saint-Jean | - | - | 73.8% | - |
| HY Building & Engineering Berchem-Sainte-Agathe | - | - | 87.1% | - |
| LUX DAR TRANS Molenbeek-Saint-Jean | - | - | -110.3% | - |
Grey: the largest companies of the sector (specialised construction (NACE 43)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as MF SOLID CONSTRUCT: other specialised construction activities (NACE 43990). They are comparable in size and age: total assets between €5,930 and €10,700, founded between 2019 and 2021.
MF SOLID CONSTRUCT has existed since 2019. Turnover fell from €17,793 in 2020 to €8,480 in 2025.
Solvency rose in 2025 from 50.5% to 94.0% because of lower debts.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Higher than 95% of 35,156 companies in 2025.
Higher than 93% of 34,529 companies in 2025.
Lower than 95% of 34,730 companies in 2025.
Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: bottom quarter · Working capital: bottom quarter
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||
20/58 |
7,428 | 21,230 | 41,848 | 3,661 | 14,454 | 8,852 | |
21/28 |
3,325 | 7,142 | 10,958 | - | 3,200 | 4,800 | |
22/27 |
3,325 | 7,142 | 10,958 | - | 3,200 | 4,800 | |
24 |
3,325 | 7,142 | 10,958 | - | 3,200 | 4,800 | |
29/58 |
4,103 | 14,088 | 30,890 | 3,661 | 11,254 | 4,052 | |
40/41 |
3,735 | 13,800 | 30,890 | 3,622 | 11,042 | 4,040 | |
40 |
2,676 | 13,176 | 28,409 | 2 | 10,285 | 3,701 | |
41 |
1,059 | 624 | 2,481 | 3,620 | 757 | 339 | |
54/58 |
234 | 154 | - | 39 | 212 | 12 | |
490/1 |
134 | 134 | - | - | - | - | |
| Balance sheet: equity and liabilities | |||||||
10/49 |
7,428 | 21,230 | 41,848 | 3,661 | 14,454 | 8,852 | |
10/15 |
6,984 | 10,718 | 7,357 | 3,400 | 5,989 | 4,389 | |
10/11 |
3,700 | 3,700 | 3,700 | 3,700 | 3,700 | - | |
14 |
3,284 | 7,018 | 3,657 | -300 | 2,289 | 4,389 | |
17/49 |
444 | 10,512 | 34,491 | 261 | 8,465 | 4,463 | |
42/48 |
444 | 10,512 | 34,491 | 261 | 8,465 | 4,463 | |
43 |
- | - | 5 | - | - | - | |
430/8 |
- | - | 5 | - | - | - | |
44 |
266 | 6,049 | 18,736 | 84 | 6,283 | 666 | |
440/4 |
266 | 6,049 | 18,736 | 84 | 6,283 | 666 | |
46 |
- | - | 5,214 | - | - | - | |
45 |
178 | 1,048 | 302 | 177 | 1,600 | - | |
450/3 |
178 | 1,048 | 302 | 177 | - | - | |
454/9 |
- | - | - | - | 1,600 | - | |
47/48 |
- | 3,415 | 10,234 | - | 582 | 3,797 | |
| Income statement | |||||||
70 |
8,480 | 32,120 | 45,625 | 13,435 | 51,063 | 17,793 | |
76A |
- | - | - | 110 | - | - | |
9900 |
797 | 8,357 | 4,660 | -531 | 721 | 5,022 | |
630 |
3,817 | 3,816 | 491 | - | 1,600 | - | |
640/8 |
570 | 269 | - | 1,950 | 176 | 499 | |
9901 |
-3,590 | 4,272 | 4,169 | -2,481 | -1,055 | 4,523 | |
75/76B |
- | 1 | - | - | - | - | |
75 |
- | 1 | - | - | - | - | |
65/66B |
72 | 67 | 88 | 108 | 13 | 134 | |
65 |
72 | 67 | 88 | 108 | 13 | 34 | |
66B |
- | - | - | - | - | 100 | |
9903 |
-3,662 | 4,206 | 4,081 | -2,589 | -1,068 | 4,389 | |
67/77 |
72 | 845 | 124 | - | 1,032 | - | |
9904 |
-3,734 | 3,361 | 3,957 | -2,589 | -2,100 | 4,389 | |
9905 |
-3,734 | 3,361 | 3,957 | -2,589 | -2,100 | 4,389 | |
| Appropriation of the result | |||||||
9906 |
3,284 | 7,018 | 3,657 | -300 | 2,289 | 4,389 | |
14P |
7,018 | 3,657 | -300 | 2,289 | 4,389 | - | |
| Document | |||||||
The notes to these accounts have 4 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 26-06-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 26-06-2026 | 2026-00236791 | |
| 31-12-2024 | micro format | 03-07-2025 | 2025-00230614 | |
| 31-12-2023 | micro format | 28-09-2024 | 2024-00477416 | |
| 31-12-2022 | micro format | 21-08-2023 | 2023-00338388 | |
| 31-12-2021 | micro format | 02-09-2022 | 2022-20415092 | |
| 31-12-2020 | micro format | 20-09-2021 | 2021-67800561 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| 227 | 8,088 | 4,660 | - | 545 | - | ||
| 83 | 7,177 | 4,448 | - | -500 | - | ||
| 0 | 0 | 11,449 | - | 0 | 4,800 | ||
| 80 | - | - | -173 | 200 | - | ||
| 3,659 | 3,576 | -3,601 | 3,400 | 2,789 | -411 | ||
| -42.3% | 13.3% | 9.1% | -18.5% | -2.1% | 25.4% | ||
| 94.0% | 50.5% | 17.6% | - | 41.4% | 49.6% | ||
| 9.24 | 1.34 | 0.90 | - | 1.33 | 0.91 | ||
| 0.06 | 0.98 | 4.69 | - | 1.41 | 1.02 | ||
| -53.5% | 31.4% | 53.8% | - | -35.1% | 100.0% | ||
| -50.3% | 15.8% | 9.5% | - | -14.5% | 49.6% | ||
| 3.15 | over 100 | 52.95 | - | 41.92 | - | ||
| 115 days | 150 days | 227 days | 0 days | 74 days | 76 days |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | €11,449 | - | - |
| €3,817 | €3,816 | €491 | - | €1,600 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a loss of €3,590, after a profit of €4,272 in 2024. It is the lowest result since 2020.
Debt's share of the balance-sheet total falls from 49.5% to 6.0%. Equity and debt are lower.
MF SOLID CONSTRUCT has no parent and no holdings in its annual accounts. Stinca Mihai is the only director.
| MAHDATA
registered office since 13-07-2022 · founded in 2022 |
total assets €215,804 (2025) 0788.552.491 |
| SANCHELEC
registered office since 07-12-2009 · founded in 2009 |
total assets €53,952 (2025) 0821.174.086 |
| Smirnova, Yauheniya (sole trader)
establishment since 01-04-2025 |
founded in 2025 1021.687.439 |
| Marsli, Ayoub (sole trader)
establishment since 15-11-2024 |
founded in 2024 1015.925.243 |
| El Mahmoudi, Youcef (sole trader)
establishment since 07-02-2024 |
founded in 2024 1006.446.462 |
| Lamah, Daouda (sole trader)
establishment since 01-07-2022 |
founded in 2022 0786.717.609 |
| FLEX CLEARING
registered office since 29-04-2022 |
founded in 2022 0785.581.620 |
| The FreeCAD project association
registered office since 11-02-2022 |
founded in 2022 0781.867.807 |
| van Havre, Yorik (sole trader)
establishment since 15-02-2021 |
founded in 2021 0655.581.725 |
| Association des copropriétaires à Anderlecht, rue du Docteur Kuborn 31
registered office since 29-06-2017 |
founded in 2017 0694.931.754 |
| HARNEET FOOD via TANASE Florin Liviu, at MF SOLID CONSTRUCT until 2020 · Gestion technique journalière · deed of 18-10-2017 Bankrupt |
turnover €184,632 (2019) |
The network starts from the earlier ties.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
MF SOLID CONSTRUCT was incorporated on 5 December 2019 as a private limited company by two natural persons, with a starting capital of €10,000.12 The registered office moved to Jette in 2020 and to Anderlecht in 2021.34 Since 2021, Stinca Mihai has served as director.5 Turnover fell from €17,793 in 2020 to €8,480 in 2025.6
| Establishment | Since | Unit number |
|---|---|---|
| Dokter Kubornstraat 31 registered office 1070 Anderlecht 2511001 Manufacture of metal structures and parts of structures | 01-04-2020 | 2.304.419.991 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 21305C0319/00E004 | 3,755 m² | 1 · 963 m² | 18.3 m · 5 |
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0738.793.372
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