Turnover
≈ €120,000 estimated
The micro format states no turnover.
MFR
Lifetime
2 annual accounts with figures on one time axispeak €55,815 (2024)
€21,646▼ 61.2%
peak €34,827 (2024)
€2,295▼ 93.4%
peak €46,965 (2025)
€46,965▲ 5.1%
€111,487▲ 34.9%
Board2 names since 2024
1 directorDABROWSKI Krzysztof Kamil
Documentsfilings and deeds
25-08-202625 days late
2025micro format
Gross margin from €55,815 to €21,646Result from €34,827 to €2,295Debts from €82,655 to €111,487Investments €64,933Cash from €58,769 to €4,325
Key points
from the 2025 annual accountsDebts
€111,487 70% of the balance sheet
Financial debts 59%Suppliers 2%Taxes and wages 7%Other 32%
Of this, €45,472 falls due within a year.
Investments
€71,489 4.9 × depreciation
Green is investment, beige is depreciation. Machinery stands 1510.7% higher than in 2024.
2025 accounts filed 25 days after the deadline
Checked score
89
Excellent
Financially stronger than 41% of micro companies in creative and performing arts (NACE 90)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 3,433 companies (NACE 90, micro).
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.3%
01-2025: 0.3%● unchanged vs 12-2024
02-2025: 0.3%● unchanged vs 01-2025
03-2025: 0.3%● unchanged vs 02-2025highest value
04-2025: 0.3%● unchanged vs 03-2025highest value
05-2025: 0.3%● unchanged vs 04-2025highest value
06-2025: < 0.1%▼ -0.3 percentage points vs 05-2025
07-2025: < 0.1%● unchanged vs 06-2025
08-2025: < 0.1%● unchanged vs 07-2025
09-2025: < 0.1%● unchanged vs 08-2025
10-2025: < 0.1%● unchanged vs 09-2025
11-2025: < 0.1%● unchanged vs 10-2025
12-2025: < 0.1%● unchanged vs 11-2025
01-2026: < 0.1%● unchanged vs 12-2025lowest value
02-2026: < 0.1%● unchanged vs 01-2026
03-2026: < 0.1%● unchanged vs 02-2026
04-2026: < 0.1%● unchanged vs 03-2026
05-2026: < 0.1%● unchanged vs 04-2026
06-2026: < 0.1%● unchanged vs 05-2026
07-2026: < 0.1%● unchanged vs 06-2026
08-2026: 0.1%▲ +0.1 percentage points vs 07-2026
09-2026: 0.2%▲ +0.1 percentage points vs 08-2026
10-2026: 0.2%● unchanged vs 09-2026
11-2026: 0.2%● unchanged vs 10-2026
Financial strengthAverage
Score breakdown
raises risk
Liquidity: current ratio 1.38, cash €4,325, halved
lowers risk
Size: total assets €158,453
Sector: Arts creation and performing arts activities (NACE 90)
Founded in 2010
Calculation
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 90, micro). It does better than 37% of them on solvency, 26% on liquidity, 47% on profitability and 54% on growth.
The bankruptcy probability was computed on 08-11-2026 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 very low class on 30-06-2025, 0.1% 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).
Comparable companies, two years later
In July 2024, 4,508 companies had the same profile as MFR has now. Each dot stands for 12 companies, two years later.
96.9%
were still trading
1.6%
stopped another way
1.4%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of MFR itself is lower: 0.2% within 12 months. It rests on far more data about MFR than the profile alone.
Test of the method
The method was tested on the 497,447 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 4,508 companies, not a prediction for MFR. 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.
Credit verdict
Credit of up to €4,000 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.38 (1.63 in 2024), below the usual 1.5. Short-term debt is 28.7% and cash 2.7% of total assets. 70.4% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
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.
Signals
Five signals.
lowers riskraises risk
raises risk · 2025 accounts filed 25 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 25-08-2026, 25 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 2 filingsDeviation from the deadline
2025
25 days late
2024
69 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 2 accounts on average 22 days before the deadline. In the sector (NACE 90), the median for financial year 2024 was 3 days before the deadline, and 38% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsWhere today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0830532509
Amendment of the articles · Legal-form change · Resignations & appointments
Change of role: DABROWSKI Krzysztof Kamil, from manager to director · Resignation: van den BERG Alain (manager) · DABROWSKI Krzysztof Kamil holds all the shares · General meeting of 31-07-2024 · Gazette deed
Transfer of 187 shares from Krzysztof DABROWSKI to Kolacz MARCIN
Admission: Kolacz MARCIN (associé actif) · Krzysztof DABROWSKI holds 563 shares · Kolacz MARCIN holds 187 shares · General meeting of 01-10-2022 · Gazette deed
First establishment
Rue Bolle 46, Tubize
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| MFR Tubize | €158,453 | €21,646 | 29.6% | - |
| Halfweg Lokeren | €139,638 | €27,854 | 16.2% | - |
| VERHELLE KURT Ostend | €170,215 | €27,536 | 92.0% | - |
| Retec Kasterlee | €129,131 | €12,741 | 6.3% | 0.2 |
| Luzir Mechelen | €103,451 | €14,647 | 87.5% | - |
| HEG PRODUCTIONS Wellen | €262,216 | €39,595 | 20.6% | - |
| HEMELGROEN Antwerp | €113,472 | €31,509 | -21.7% | - |
These companies have the same main activity as MFR: design and construction of stages and sets (NACE 90392). They are comparable in size and age: total assets between €103,000 and €262,000, founded between 1999 and 2014.
Official details
Source: KBO- Status
- Active since 01-10-2010Normal situation
- Activity
- Design and construction of stages and setsNACE 90392and 5 others
- Establishment unit
- 2.193.137.0391480 Tubize, since 09-11-2010
- Financial year end
- 31 December
- Peppol
- Reachable since 27-10-2026
Insights on MFR
MFR has been active since 2010 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €46,965 and a net result of €2,295, with €3,403 of non-recurring income.
Its solvency ranks better than 36% of 2,486 sector peers (NACE 90, financial year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about MFR
- What is the company number of MFR?
- The company number of MFR is 0830.532.509. The VAT number is the same number with BE in front: BE 0830.532.509.
- Where is MFR based?
- The registered office is at Rue Bolle 46, 1480 Tubize.Company details
- What does MFR do?
- According to the KBO register, the main activity is design and construction of stages and sets (NACE 90392).
- What is the legal form of MFR?
- MFR is a private limited company (BV).
- When was MFR founded?
- MFR was founded on 01-10-2010.
- Is MFR still active?
- Yes, MFR is an active enterprise in the KBO register.
- What is the turnover of MFR?
- The turnover in financial year 2025 is ≈ €120,000. This figure is estimated from the gross margin of €21,646 and 45 comparable companies (NACE 903). It probably lies between €60,000 and €260,000. It is a rough estimate.Financials
- Is MFR profitable?
- In financial year 2025, MFR made a profit of €2,295.
- Where can I find the annual accounts of MFR?
- MFR filed 2 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of MFR due?
- MFR must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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