MG PHARMA
ActiveSummary
The computed 12-month bankruptcy probability of MG PHARMA is 3.6% (moderate). For MG PHARMA, at least two filing cycles of the annual accounts are missing. The 2022 annual accounts show equity of €167,812 and a net result of -€3,795. Equity is growing by ~6.1% per year across the filed fiscal years. The company has been active since 1985 and the Belgian State Gazette contains no insolvency signals. The CBE does carry 2 administrative register entries (see administrative flags).
Checked score
No current score
Figures too old
The available figures for FY 2022 are too old to assess current financial health.
Filing: At least two filing cycles are missing
Axes, FY 2022 · tick = 2021
Profitability31▼-26
Solvency40▼-2
Growth52▼-26
Track record84
Bankruptcy probability, 12 months
3.6%
Moderate
0%0.5%1.5%4%10%≥ 25%
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Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2022Solvency, return and age of the figures
Solvency
15.2%
Return on assets
-0.3%
Age of the figures
45 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Two or more financial years not filed
Since the financial year that closed on 31-12-2023, 3 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 10 filingsPosition against the passed deadline
31-12-2023 close31-07-2024 deadline29-09-2026 today
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2022 was due by 31-07-2023 and was filed on 27-02-2024, 211 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
211 d late
2021
75 d late
2020
39 d early
2019
326 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 4 accounts on average 143 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
raises risk · Administrative warnings in the KBO publications
2 publications by the FPS Economy about this company, such as a strike-off for address, accounts or UBO, or their withdrawal.
KBO publicationsPublications
UBO non-compliance×2
History
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Financials · fiscal year 2022, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€3,795
2021 · €19,757
Working capital
-€324,636▼ 82.4%
2021 · -€177,967
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20182019202020212022
Operating result€40,045-€42,233▲ 5.5%€30,598▼ 27.5%€47,026▲ 53.7%€8,925▼ 81.0%
Net result€6,834-€19,037▲ 179%€538▼ 97.2%€19,757▲ 3,572%-€3,795
Equity€132,275-€151,312▲ 14.4%€151,850▲ 0.4%€171,607▲ 13.0%€167,812▼ 2.2%
Total assets€1.2m-€1.1m▼ 1.9%€1.1m▼ 3.9%€1.0m▼ 5.9%€1.1m▲ 6.1%
Debt€1.0m-€995,600▼ 3.9%€950,166▼ 4.6%€865,930▼ 8.9%€932,957▲ 7.7%
Working capital-€223,552--€238,805▼ 6.8%-€270,325▼ 13.2%-€177,967▲ 34.2%-€324,636▼ 82.4%
Result per fiscal year
Operating resultNet result
The operating result falls in 2022; 2022 is 81% below 2021 and is the lowest result in the available series.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €1.1m
Fixed assets
€789,024 ▲ 0.4%
Current assets
€311,745 ▲ 23.8%
Equity and liabilities €1.1m
Equity
€167,812 ▼ 2.2%
Debt
€932,957 ▲ 7.7%
Debt's share of the balance-sheet total rises from 83.5% to 84.8%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€19,525▼
2021 · €57,626
Cash flow
€6,805▼
2021 · €30,357
Current ratio
0.49▼
2021 · 0.59
Debt to equity
5.56▲
2021 · 5.05
ROE
-2.3%▼
2021 · 11.5%
ROA
-0.3%▼
2021 · 1.9%
Interest coverage
1.54▼
2021 · 4.30
Debt ≤ 1 year
€636,381▲
2021 · €429,755
Debt > 1 year
€296,576▼
2021 · €436,175
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10,600 | €10,600 | €10,600 | €10,600 | €10,600 | = |
| Gross operating margin9900 | €52,892 | €52,833 | €41,198 | €57,626 | €19,525 | ▼ 66.1% |
| Operating profit (loss)9901 | €40,045 | €42,233 | €30,598 | €47,026 | €8,925 | ▼ 81.0% |
| Financial charges65/66B | - | - | - | €13,394 | €12,720 | ▼ 5.0% |
| Recurring financial charges65 | €33,212 | €19,322 | €18,967 | €13,394 | €12,720 | ▼ 5.0% |
| Profit (loss) for the period before taxes9903 | €6,834 | €22,911 | €11,631 | €33,632 | -€3,795 | ▼ 111% |
| Income taxes67/77 | - | €3,874 | €11,093 | €13,876 | - | - |
| Profit (loss) for the period9904 | €6,834 | €19,037 | €538 | €19,757 | -€3,795 | ▼ 119% |
| Profit (loss) for the period to be appropriated9905 | €6,834 | €19,037 | €538 | €19,757 | -€3,795 | ▼ 119% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.2m | €1.1m | €1.1m | €1.0m | €1.1m | ▲ 6.1% |
| Fixed assets21/28 | €831,424 | €820,824 | €810,224 | €785,749 | €789,024 | ▲ 0.4% |
| Tangible fixed assets22/27 | €190,800 | €180,200 | €169,600 | €159,000 | €148,400 | ▼ 6.7% |
| Land and buildings22 | - | - | - | €159,000 | €148,400 | ▼ 6.7% |
| Financial fixed assets28 | €640,624 | €640,624 | €640,624 | €626,749 | €640,624 | ▲ 2.2% |
| Current assets29/58 | €337,312 | €326,088 | €291,792 | €251,789 | €311,745 | ▲ 23.8% |
| Amounts receivable within one year40/41 | €328,365 | €310,776 | €291,579 | €248,176 | €305,455 | ▲ 23.1% |
| Trade receivables40 | - | - | - | €248,176 | €269,148 | ▲ 8.5% |
| Other amounts receivable41 | - | - | - | - | €36,306 | - |
| Cash at bank and in hand54/58 | €8,947 | €15,312 | €213 | €3,612 | €6,290 | ▲ 74.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.2m | €1.1m | €1.1m | €1.0m | €1.1m | ▲ 6.1% |
| Equity10/15 | €132,275 | €151,312 | €151,850 | €171,607 | €167,812 | ▼ 2.2% |
| Contributions10/11 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Capital10 | - | - | - | €18,592 | €18,592 | = |
| Issued capital100 | - | - | - | €18,592 | €18,592 | = |
| Reserves13 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Non-distributable reserves130/1 | - | - | - | €1,859 | €1,859 | = |
| Legal reserve130 | - | - | - | €1,859 | €1,859 | = |
| Profit (loss) carried forward14 | €111,824 | €130,861 | €131,399 | €151,156 | €147,361 | ▼ 2.5% |
| Amounts payable17/49 | €1.0m | €995,600 | €950,166 | €865,930 | €932,957 | ▲ 7.7% |
| Amounts payable after more than one year17 | €475,596 | €430,707 | €388,049 | €436,175 | €296,576 | ▼ 32.0% |
| Financial debts170/4 | - | - | - | €343,818 | €296,576 | ▼ 13.7% |
| Other amounts payable178/9 | - | - | - | €92,356 | - | - |
| Amounts payable within one year42/48 | €560,865 | €564,893 | €562,117 | €429,755 | €636,381 | ▲ 48.1% |
| Financial debts43 | - | - | - | - | €73,383 | - |
| Credit institutions430/8 | - | - | - | - | €73,383 | - |
| Trade debts44 | €411,992 | €431,350 | €434,918 | €394,290 | €445,997 | ▲ 13.1% |
| Suppliers440/4 | - | - | - | €394,290 | €445,997 | ▲ 13.1% |
| Taxes, remuneration and social security45 | - | - | - | €35,465 | €117,001 | ▲ 230% |
| Taxes450/3 | - | - | - | €35,465 | €117,001 | ▲ 230% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6,834 | €19,037 | €538 | €19,757 | -€3,795 | ▼ 119% |
| + Depreciation and write-downs630 | €10,600 | €10,600 | €10,600 | €10,600 | €10,600 | = |
| Operating cash flow (approximation) | €17,434 | €29,637 | €11,138 | €30,357 | €6,805 | ▼ 77.6% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €13,876 | -€13,876 | ▼ 200% |
| Change in cash | - | €6,365 | -€15,099 | €3,400 | €2,678 | ▼ 21.2% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2024
07-06
KBO administration
UBO non-compliance
event 30-05-2024
26-04
KBO administration
UBO non-compliance
event 15-04-2024
27-02
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 211 days late
2022
31-12
Financial
Weakest financial yearnet -€3,795
Net result drops to -€3,795, the lowest in the series.
14-10
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 75 days late
2021
31-12
Financial
Highest result since 2018net €19,757 ▲3,572%
Operating result €47,026, net result €19,757, both a record.
22-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
22-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 326 days late
2019
31-12
Financial
Equity above €150,000Eq €151,312 ▲14.4%
2 profitable years in a row build equity to €151,312.
12-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
28-09
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 59 days late
28-09
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 424 days late
Show earlier events
2016
11-10
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 72 days late
2015
23-12
NBB filing
Annual accounts filed
fiscal year 2014 · full schema · 145 days late
23-12
NBB filing
Annual accounts filed
fiscal year 2013 · full schema · 510 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Vorst · 1 establishment unit since 1985
Ground area
291 m²
Building footprint
230 m²
Volume, LiDAR
2,226 m³
2 parcels, Brussels · tallest building 17.5 m, ±4 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
Onze-Lieve-Heersbeestjeslaan 98, 1170 Watermaal-Bosvoorde
since 19852.027.221.509
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21652E0027/00M024 | Brussels | 151 m² | 1 · 124 m² | 12.8 m · 3 fl. |
| 21383B0036/00N007 | Brussels | 140 m² | 1 · 105 m² | 17.5 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded04-06-1985
Fiscal year end31-12
E-invoicing
Reachable via Peppol
Peppol ID
0208:0427381406
Also
9925:BE0427381406
Registered
29-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.