MG Construction
ActiveMG Construction has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €537k and a net result of €355k. Equity is growing by ~36.8% per year across the filed fiscal years. Its solvency ranks better than 74% of 9692 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2024
100
/ 100
Excellent▲ +14 vs 2023
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability100=
Solvency99▲+38
Growth78=
Stability100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €55k at 30 days acceptable
Liquidity ample (current ratio 2.59 against 1.48 in 2023), and 38.1% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Sector 68
lower
← 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 2024Solvency, return and age of the figures
Solvency
61.9%
Return on assets
40.9%
Age of the figures
20 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 12-08-2025, 12 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 9 filingsDeviation from the deadline
2025
not confirmed
2024
12 d late
2023
12 d late
2022
42 d early
2021
32 d early
2020
24 d early
2019
29 d early
← before the deadline
after the deadline →
Financials · fiscal year 2024, abbreviated schema
Equity
€537k▲ 195%
2023 · €182k
2018: €54k
2019: €52k
2020: €49k
2021: €104k
2022: €88k
2023: €182k
2018 → 2024
Total assets
€868k▲ 53.8%
2023 · €564k
2018: €54k
2019: €54k
2020: €49k
2021: €627k
2022: €268k
2023: €564k
2018 → 2024
Net result
€355k▲ 279%
2023 · €94k
2018: €424
2019: €-2k
2020: €-3k
2021: €505k
2022: €-15k
2023: €94k
2018 → 2024
Working capital
€526k▲ 188%
2023 · €183k
2019: €52k
2021: €104k
2022: €87k
2023: €183k
2019 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€49k-€104k▲ 113%€88k▼ 14.7%€182k▲ 106%€537k▲ 195%
Operating result€-5k-€675k€-25k€136k€512k▲ 276%
Net result€-3k-€505k€-15k€94k€355k▲ 279%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 276% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €868k
Fixed assets
€11k▲ 836%
Current assets
€857k▲ 52.2%
Equity and liabilities €868k
Equity
€537k▲ 195%
Debt
€331k▼ 13.4%
The debt ratio falls from 67.7% to 38.1%: equity grows while debt is paid down.
Key figures and ratios
EBITDA
€514k▲
2023 · €137k
Cash flow
€357k▲
2023 · €94k
Solvency
61.9%▲
2023 · 32.3%
Current ratio
2.59▲
2023 · 1.48
Quick ratio
2.59▲
2023 · 1.48
Debt / equity
0.62▼
2023 · 2.10
ROE
66.1%▲
2023 · 51.4%
ROA
40.9%▲
2023 · 16.6%
Interest coverage
1241.34▲
2023 · 24.02
Debt
€331k▼
2023 · €382k
Debt ≤ 1 year
€331k▼
2023 · €381k
Income taxes
€158k▲
2023 · €37k
Staff costs
€435k▲
2023 · €324k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€564k€868k▲
Fixed assets21/28€1k€11k▲
Tangible fixed assets22/27€1k€11k▲
Furniture and vehicles24€1k€11k▲
Financial fixed assets28€60€60=
Current assets29/58€563k€857k▲
Amounts receivable within one year40/41€19€774k▲
Trade receivables40-€485k
Other amounts receivable41€19€289k▲
Cash at bank and in hand54/58€562k€83k▼
Deferred charges and accrued income490/1€1k-
Equity and liabilities
Total equity and liabilities10/49€564k€868k▲
Equity10/15€182k€537k▲
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Reserves13€6k€6k=
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Profit (loss) carried forward14€114k€469k▲
Amounts payable17/49€382k€331k▼
Amounts payable within one year42/48€381k€331k▼
Trade debts44€16k€60k▲
Suppliers440/4€16k€60k▲
Taxes, remuneration and social security45€145k€271k▲
Taxes450/3€117k€233k▲
Remuneration and social security454/9€28k€38k▲
Other amounts payable47/48€220k-
Accrued charges and deferred income492/3€2k-
Income statement
Code20232024
Remuneration, social security and pensions62€324k€435k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€636€2k▲
Other operating charges640/8€263€281▲
Gross operating margin9900€461k€950k▲
Operating profit (loss)9901€136k€512k▲
Financial income75/76B€0€1k▲
Recurring financial income75€0€1k▲
Financial charges65/66B€6k€414▼
Recurring financial charges65€6k€414▼
Profit (loss) for the period before taxes9903€131k€513k▲
Income taxes67/77€37k€158k▲
Profit (loss) for the period9904€94k€355k▲
Profit (loss) for the period to be appropriated9905€94k€355k▲
Appropriation of the result
Profit (loss) to be appropriated9906€114k€469k▲
Profit (loss) brought forward from the previous period14P€21k€114k▲
Social balance
Average headcount (FTE)90873.35.1▲
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2026
11-08
State Gazette act
Resignations & appointmentsGeneral meeting · Board meeting · Auditor appointment20 facts ▸
State Gazette act
Resignations & appointments
General meeting · Board meeting · Auditor appointment20 facts ▸
- General meeting, 13 juni 2025
- General meeting, 22 juni 2026
- Board meeting, 22 juni 2026
- Auditor appointment, Ernst & Young Bedrijfsrevisoren (Bedrijfsrevisor)
- Director resignation, MG Construction
- Director discharge, MG Construction
- Director appointment, MG RE Investment BV (niet-statutaire bestuurder)
- Permanent representative, Ignace De Paepe
- Director appointment, Prodit BV (niet-statutaire bestuurder)
- Permanent representative, Ignace Tytgat
- Director appointment, SCS BV (niet-statutaire bestuurder)
- Permanent representative, Stacey Smits
- +8 further facts in this act
2025
12-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 12 days late
2024
31-12
Financial
Equity above €500kEq €537k ▲195%
2 profitable years in a row build equity to €537k.
12-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 12 days late
2023
31-12
Financial
Back to profitnet €94k
Net result €94k after one loss-making year.
31-12
Financial
Equity above €150kEq €182k ▲106%
Equity rises from €88k to €182k.
19-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Weakest financial yearnet €-15k ▼103%
Net result drops to €-15k, the lowest in the series; recovery starts the following year.
29-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Back to profitnet €505k
Net result €505k after 2 loss-making years.
31-12
Financial
Equity above €100kEq €104k ▲113%
Equity rises from €49k to €104k.
07-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
02-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
02-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
28-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
26-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
under verification, no change since 2026
This board is reconstructed from a single act (26352087). A Gazette act generally publishes only CHANGES, not a full roll call, so directors unchanged since then may be missing here. The KBO register holds the complete list of function holders.
9000 Estate
CurrentNon-statutory director · since 22-06-2026 · Private limited company · perm. rep.: Guillaume De Paepe
MEA VOTA ONE
CurrentNon-statutory director · since 22-06-2026 · Private limited company · perm. rep.: Anja Tackaert
MG RE Investment
CurrentNon-statutory director · since 22-06-2026 · Private limited company · perm. rep.: Ignace De Paepe
PRODIT
CurrentNon-statutory director · since 22-06-2026 · Private limited company · perm. rep.: Ignace Tytgat
SCS
CurrentNon-statutory director · since 22-06-2026 · Legal entity · perm. rep.: Stacey Smits
22-06-2026
9000 Estate: Appointed as Non-statutory director
22-06-2026
MEA VOTA ONE: Appointed as Non-statutory director
22-06-2026
MG RE Investment: Appointed as Non-statutory director
22-06-2026
MG RE Investment: Appointed as Managing director
22-06-2026
PRODIT: Appointed as Non-statutory director
22-06-2026
SCS: Appointed as Non-statutory director
Location & real-estate footprint
Registered office, Gent · 2 establishment units since 2015
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Esplanade Oscar Van de Voorde 19000 GentGround area
3,175 m²
Building footprint
1,010 m²
Volume, LiDAR
1,563 m³
2 parcels, Flanders · tallest building 8.5 m, ±2 floors. Linked by address, not a title deed.
2 establishment units
MG Construction
since 20152.249.323.397
MG Construction
since 20222.334.180.680
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44809I0649/52A002 | Flanders | 1,701 m² | 1 · 822 m² | 4.8 m |
| 44049E0339/00B000 | Flanders | 1,474 m² | 1 · 189 m² | 8.5 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Statutory auditor
1 auditor| Ernst & Young BedrijfsrevisorenCurrent Company auditor | 11-08-2026 → present |
Structure & network
Ownership & control
1 partyControl over this companysits on this company's board1
52 subsidiaries · 1 location
controls
MG ConstructionBE 0643.699.522
Public money · subsidies and aid
Flemish government
2023 to 2024 · 2 entries · 25 EUR awarded · 25 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 0 EUR | 25 EUR |
| 2023 | 1 | 25 EUR | 0 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 9,635 companies in sector 68121 we hold annual accounts for 7,328. 4,610 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded30-11-2015
Fiscal year end31-12
Activities, NACEBEL
68121Development of residential building projects
Sources
Crossroads Bank for EnterprisesNational Bank · 9 filingsAddress and cadastre registers
Data from official sources, last processed on 12-09-2026. Scores and ratios are computed by Checked and are not a credit decision.