MG System
ActiveSummary
The computed 12-month bankruptcy probability of MG System is 1.8% (moderate). The 2025 annual accounts show equity of €113,740 and a net result of €59,849. Its solvency ranks better than 46% of 34,356 sector peers (NACE 43, financial year 2025). The company has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals.
Articles of association
What the company does
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- MG System
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaams Gewest, exploitatiezetels oprichten of opheffen bij enkel besluit bestuursorgaan voor zover geen wijziging taalregime” (deed in Dutch)
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- “Artikel 11. Bevoegdheden van het bestuursorgaan Als er slechts één bestuurder is, is het geheel van de bevoegdheden van de bestuurders aan…”
- Board ruleHow the board is made up, meets and takes decisions.
- “Met of zonder beperking van duur, algemene vergadering die bestuurder(s) benoemt bepaalt aantal, duur opdracht en indien meerdere…” (deed in Dutch)“Geboekt op algemene kosten los van representatie-, reis- en verplaatsingskosten, algemene vergadering beslist of mandaat al dan niet ten…” (deed in Dutch)
Capital, shares and profit
- Kind of sharesWhich classes of shares exist and what rights each class carries.
- “100, gelijk recht in winstverdeling per aandeel” (deed in Dutch)“Op naam, register van aandelen op naam” (deed in Dutch)
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- “Procedure- en expertisekosten voor helft ten laste overdrager en helft ten laste koper(s) naar evenredigheid verworven aantal bij meer…” (deed in Dutch)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- Second Monday of June at 18:00
Oversight and winding up
- Statutory auditorA statutory auditor is a registered auditor who checks the accounts; small companies need not have one. According to the deed, the legal criteria do not require one here.
- No statutory auditor
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Besluit algemene vergadering beraadslagend zoals inzake statutenwijziging” (deed in Dutch)“Beslissing algemene vergadering beslissende in vormen statutenwijziging, elk moment” (deed in Dutch)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Bij ontbinding om welke reden en wanneer ook, bestuurder(s) in functie krachtens statuten indien geen andere vereffenaar benoemd” (deed in Dutch)