Checked.be
Inactive
BE 0423.219.116Private limited company
MG Group
Vrijheidslaan 175 ·1080 Sint-Jans-Molenbeek, Belgium
Sector: Non-specialised retail sale with food, beverages or tobacco predominating
(47110)
Conclusion
MG Group has been active since 1982 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €18k and a net result of €-2k. Equity is shrinking by ~12.9% per year across the filed fiscal years. Its solvency ranks better than 44% of 17366 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.4% (low).
Based on the State Gazette, CBE and 5 annual accounts.
Key figures
| Equity | €18k |
| Net result | €-2k |
| Better than sector | 44% |
| Locations | 2 |
Financial profile
46
/ 100
Mixed profile: strong on stability, weaker on profitability.
All 5 axes are computed from data Checked has read.
Health
47
Profitability
0
Solvency
50
Growth
32
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Long-established
Founded in 1982, 43 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
47
/ 100
Fair
Computed from 4 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
€1k
estimate, not credit advice
Score history
78
2021
47
2022
22
2023
68
2024
47
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 1.37 (≥ 1.0)
+5
Quick ratio
Quick ratio 1.37 (≥ 1.0)
+5
Profitability
Negatieve ROE -13%
-10
Profit trend
Net profit down YoY
-3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 29-06-2026 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
Equity: declining trend of ~12.9%/year over 5 fiscal years, indicative, 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 | 27.1% | 34.6% | |
| Net result | €-2k | €5k | |
| Equity | €18k | €44k | |
| Gross operating margin | €-2k | €34k | |
| Total assets | €65k | €154k |
€-2k
-
21-25
€65k
-28.0%
21-25
€18k
-11.4%
21-25
€18k
-11.4%
21-25
€129
+10.3%
21-25
€8k
-
21-25
€48k
-32.7%
21-25
€48k
-32.7%
21-25
1.37
+7.0%
21-25
1.37
+7.0%
21-25
27.1%
+23.1%
21-25
2.69
-24.1%
21-25
-12.9%
-
21-25
-3.5%
-
21-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema | micro schema | micro schema |
| Revenue | - | - | - | - | - |
| EBITDA | - | - | - | - | - |
| Net profit | €-2k | €25k | €-21k | €-10k | €17k |
| Cash flow | - | - | - | - | - |
| Staff costs | - | - | €129 | €117 | €4k |
| Income taxes | - | - | - | - | €8k |
| Dividends | - | - | - | - | - |
| Total assets | €65k | €91k | €83k | €61k | €79k |
| Equity | €18k | €20k | €-5k | €17k | €27k |
| Debt | €48k | €71k | €88k | €45k | €52k |
| of which ≤ 1y | €48k | €71k | €88k | €45k | €52k |
| of which > 1y | - | - | - | - | - |
| Working capital | €18k | €20k | €-5k | €17k | €27k |
| Employees (FTE) | - | - | - | - | - |
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 1.37 | 1.28 | 0.95 | 1.37 | 1.51 |
| Quick ratio | 1.37 | 1.28 | 0.95 | 1.37 | 1.51 |
| Working capital ratio | 27.1% | 22.0% | -5.7% | 27.2% | 33.9% |
| Solvency | 27.1% | 22.0% | -5.7% | 27.2% | 33.9% |
| Debt / equity | 2.69 | 3.54 | -18.48 | 2.67 | 1.95 |
| Long-term debt ratio | - | - | - | - | - |
| Interest coverage | - | - | - | - | - |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | -3.5% | 27.3% | -25.8% | -16.6% | 21.2% |
| ROE | -12.9% | 123.9% | 450.2% | -60.9% | 62.5% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (20 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €65k | €91k | €83k | €61k | €79k |
| Current assets | 29/58 | €65k | €91k | €83k | €61k | €79k |
| Amounts receivable within one year | 40/41 | €65k | €91k | €83k | €61k | €79k |
| Cash & bank | 54/58 | €7 | €32 | €32 | €90 | €96 |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €65k | €91k | €83k | €61k | €79k |
| Equity | 10/15 | €18k | €20k | €-5k | €17k | €27k |
| Contributions / capital | 10/11 | €19k | €19k | €19k | €19k | €19k |
| Reserves | 13 | €4k | €4k | €4k | €4k | €4k |
| Accumulated profits (losses) | 14 | €-5k | €-3k | €-27k | €-6k | €4k |
| Amounts payable | 17/49 | €48k | €71k | €88k | €45k | €52k |
| Amounts payable within one year | 42/48 | €48k | €71k | €88k | €45k | €52k |
| Trade debts payable within one year | 44 | €2k | €24k | €33k | €3k | €11k |
| Income statement | ||||||
| Gross operating margin | 9900 | €-2k | €25k | €-15k | €-2k | €42k |
| Operating result | 9901 | €-2k | €25k | €-17k | €-7k | €36k |
| Financial income | 75 | - | - | €24 | €7 | €5 |
| Financial charges | 65 | €153 | €47 | €5k | €3k | €11k |
| Result before taxes | 9903 | €-2k | €25k | €-21k | €-10k | €25k |
| Income taxes | 67/77 | - | - | - | - | €8k |
| Net result for the period | 9904 | €-2k | €25k | €-21k | €-10k | €17k |
| Result to be appropriated | 9905 | €-2k | €25k | €-21k | €-10k | €17k |
Legal Structure
| NACE primary | Non-specialised retail sale with food, beverages or tobacco predominating(47110) |
| Legal form | Private limited company(610) |
| Incorporation | 29-09-1982 |
| Status | Inactive |
| Postal code | 1080 |
Establishment units
BUNATATI DIN BUCOVINA / MG
since 19822.021.271.152
BUNATATI DIN BUCOVINA 2
since 20192.285.027.911
Real-estate footprint
Brussels
3
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21526D0069/02A005 | Brussels | 310 m² | 1 · 243 m² | 10.9 m · 2 fl. |
| 21492B0065/00T007 | Brussels | 215 m² | 1 · 124 m² | 17.1 m · 5 fl. |
| 21463D0289/00S006 | Brussels | 140 m² | 1 · 107 m² | 13.8 m · 4 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
29-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
12-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 12 days late
2024
31-12
Financial
Back to profitnet €25k
Net result €25k after 2 loss-making years.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
31-12
Financial
Weakest financial yearnet €-21k
Net result drops to €-21k, the lowest in the series; recovery starts the following year.
16-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 16 days late
2022
24-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 85 days late
2020
29-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 121 days late
2019
12-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 73 days late
26-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 330 days late
2017
24-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
08-07
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 6 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 trade47112Other specialised construction activities43990Specialised construction activities43995Retail sale of fruit and vegetables47210Retail sale of bread and pastry (bakery outlets)47241Retail trade47260Other retail sale of food47279Retail trade47299
Names & trade names
| Legal nameFR | MG Group |
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