Checked.be
Active
BE 0432.033.347Coöperatieve vennootschap met beperkte aansprakelijkheid
MG
Koninklijk Parklaan 9 ·1020 Brussel, Belgium· 38 yrs active
Sector: Non-specialised retail sale with food, beverages or tobacco predominating
(47110)
Conclusion
MG has been active since 1987 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €61k and a net result of €1k. Equity is growing by ~15.5% per year across the filed fiscal years. Its solvency ranks better than 89% of 1433 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Based on the State Gazette, CBE and 3 annual accounts.
Key figures
| Equity | €61k |
| Net result | €1k |
| Better than sector | 89% |
| Active | 38 yrs |
Financial profile
69
/ 100
Strong profile, led by solvency.
All 5 axes are computed from data Checked has read.
Health
86
Profitability
8
Solvency
100
Growth
52
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Long-established
Founded in 1987, 39 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
86
/ 100
Excellent
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€5k
estimate, not credit advice
Score history
86
2023
100
2024
86
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 13.89 (≥ 1.5)
+10
Quick ratio
Quick ratio 7.66 (≥ 1.0)
+5
Leverage
Debt/equity 0.28 (< 1.0)
+10
Profitability
ROE 2%
+3
Interest coverage
Interest coverage 13.4× (≥ 3×)
+8
Profit trend
Net profit down YoY
-3
Equity growth
Equity growing YoY
+3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 09-06-2026 with the NBB · fiscal year 2025 · micro schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
declining
At this pace, net result would indicatively turn negative around fiscal year 2028, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 47, Retail trade · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 77.9% | 23.5% | |
| Net result | €1k | €7k | |
| Equity | €61k | €25k | |
| Gross operating margin | €12k | €34k | |
| Total assets | €78k | €132k |
€10k
-64.4%
23-25
€1k
-94.2%
23-25
€5k
-78.8%
23-25
€78k
-4.6%
23-25
€61k
+1.7%
23-25
€61k
+2.1%
23-25
€4k
+202.4%
23-25
€17k
-21.6%
23-25
€5k
-12.0%
23-25
€13k
-24.8%
23-25
13.89
+14.7%
23-25
7.66
+12.1%
23-25
77.9%
+6.6%
23-25
0.28
-22.9%
23-25
1.7%
-94.3%
23-25
1.3%
-93.9%
23-25
13.44
-72.6%
23-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 |
|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema |
| Revenue | - | - | - |
| EBITDA | €10k | €27k | €24k |
| Net profit | €1k | €18k | €2k |
| Cash flow | €5k | €25k | €13k |
| Staff costs | - | - | - |
| Income taxes | €4k | €1k | €9k |
| Dividends | - | - | - |
| Total assets | €78k | €82k | €67k |
| Equity | €61k | €60k | €42k |
| Debt | €17k | €22k | €24k |
| of which ≤ 1y | €5k | €5k | €4k |
| of which > 1y | €13k | €17k | €20k |
| Working capital | €61k | €60k | €40k |
| Employees (FTE) | - | - | - |
Ratios (computed)
| 2025 | 2024 | 2023 | |
|---|---|---|---|
| Current ratio | 13.89 | 12.11 | 11.08 |
| Quick ratio | 7.66 | 6.83 | 4.77 |
| Working capital ratio | 78.5% | 73.4% | 60.3% |
| Solvency | 77.9% | 73.1% | 63.6% |
| Debt / equity | 0.28 | 0.37 | 0.57 |
| Long-term debt ratio | 0.21 | 0.28 | 0.48 |
| Interest coverage | 13.44 | 49.05 | 19.17 |
| Gross margin | - | - | - |
| Net margin | - | - | - |
| ROA | 1.3% | 21.4% | 3.0% |
| ROE | 1.7% | 29.2% | 4.7% |
| EBITDA margin | - | - | - |
| Days sales outstanding | - | - | - |
| Days payable outstanding | - | - | - |
| Inventory turnover | - | - | - |
| Days inventory (DSI) | - | - | - |
Balance-sheet composition 2025
Full annual accounts (25 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Balance sheet, Assets | ||||
| TOTAL ASSETS | 20/58 | €78k | €82k | €67k |
| Fixed assets | 21/28 | €12k | €16k | €23k |
| Tangible fixed assets | 22/27 | €12k | €16k | €22k |
| Financial fixed assets | 28 | €144 | €144 | €144 |
| Current assets | 29/58 | €66k | €66k | €44k |
| Stocks & contracts in progress | 3 | €30k | €29k | €25k |
| Amounts receivable within one year | 40/41 | €25k | €25k | €9k |
| Cash & bank | 54/58 | €6k | €7k | €5k |
| Balance sheet, Equity & liabilities | ||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €78k | €82k | €67k |
| Equity | 10/15 | €61k | €60k | €42k |
| Contributions / capital | 10/11 | €19k | €19k | €19k |
| Reserves | 13 | €90 | €90 | €90 |
| Accumulated profits (losses) | 14 | €42k | €41k | €24k |
| Amounts payable | 17/49 | €17k | €22k | €24k |
| Amounts payable after one year | 17 | €13k | €17k | €20k |
| Amounts payable within one year | 42/48 | €5k | €5k | €4k |
| Trade debts payable within one year | 44 | €395 | €2k | €315 |
| Income statement | ||||
| Gross operating margin | 9900 | €12k | €30k | €25k |
| Operating result | 9901 | €5k | €19k | €12k |
| Financial income | 75 | €3 | - | - |
| Financial charges | 65 | €715 | €551 | €1k |
| Result before taxes | 9903 | €5k | €19k | €11k |
| Income taxes | 67/77 | €4k | €1k | €9k |
| Net result for the period | 9904 | €1k | €18k | €2k |
| Result to be appropriated | 9905 | €1k | €18k | €2k |
Legal Structure
| NACE primary | Non-specialised retail sale with food, beverages or tobacco predominating(47110) |
| Legal form | Coöperatieve vennootschap met beperkte aansprakelijkheid(008) |
| Incorporation | 12-09-1987 |
| Status | Active |
| Postal code | 1020 |
Establishment units
Sinte-Aleidisvoorplein 44, 1150 Sint-Pieters-Woluwe
since 19962.030.772.796
Sinte-Aleidisvoorplein 42, 1150 Sint-Pieters-Woluwe
since 20202.306.648.617
Real-estate footprint
Brussels
3
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21818B0515/00Z002 | Brussels | 235 m² | 1 · 219 m² | 19.1 m · 5 fl. |
| 21683D0371/00H056 | Brussels | 145 m² | 1 · 100 m² | 13.4 m · 4 fl. |
| 21683D0371/00P048 | Brussels | 120 m² | 1 · 85 m² | 12.6 m · 3 fl. |
Methodology
via registered seat: 1 · via establishment units: 2
3 of 3 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates
Next filing, fiscal year 2026, expected by
2026
09-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet €1k ▼94.2%
Net result drops to €1k, the lowest in the series.
03-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2023net €18k ▲784%
Operating result €19k, net result €18k, both a record.
10-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
12-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
13-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
04-11
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 96 days late
02-02
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 186 days late
2020
30-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 335 days late
2019
25-02
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 209 days late
2017
27-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 58 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 8 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
Non-specialised retail sale with food, beverages or tobacco predominating47110Retail trade4711252112
Names & trade names
| Legal nameFR | MG |
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