MGA Project

Active

Private limited companyfounded 20233 yrs activeVlamingenstraat 9, 8940 Wervik, BelgiumKBO/BCE: BE 0798.974.053

The computed 12-month bankruptcy probability of MGA Project is 3.6% (moderate). The 2023 annual accounts show equity of €34k and a net result of €33k. Its solvency ranks better than 82% of 33689 sector peers (fiscal year 2023). The company has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals.

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Checked score

Score 2023

93 / 100

Excellent

The score combines four axes. Every signal that weighs is under Signals.

Axes

Profitability100

Solvency100

Growth-

Stability79

Bankruptcy probability, 12 months

3.6% Moderate

0%0.5%1.5%4%10%≥ 25%

Credit up to €3k at 30 days only on tighter terms

Liquidity ample (current ratio 3.58), and 25.1% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Five signals. The signal on the left, the evidence on the right.

+raises risk○neutral

Limited track record

This company has not been active as long as an established one and statistically fails somewhat more often.

KBO · incorporation date

Age against the risk zone

Higher-failure-rate sector

In this sector companies fail more often than the Belgian average.

Gazette · bankruptcies per sector, NACE 43

Relative position

BE, all sectors

reference

Sector 43

higher

← fewer bankruptcies more bankruptcies →

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 2023

Solvency, return and age of the figures

Solvency

74.9%

Return on assets

72.7%

Age of the figures

32 mo

Filed after the deadline

The financial year that closed on 31-12-2023 was due by 31-07-2024 and was filed on 30-09-2024, 61 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 · 1 filing

Deviation from the deadline

2023

61 d late

← before the deadline after the deadline →

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2023, micro schema

Equity

€34k

Total assets

€45k

Net result

€33k

Working capital

€29k

Turnover and EBIT margin not published: the micro schema does not require them.

Balance-sheet composition

Assets €45k

10%

89.7%

Fixed assets €5k

Current assets €41k

Equity and liabilities €45k

74.9%

25.1%

Equity €34k

Debt €11k

Debt finances 25.1% of the balance-sheet total.

Key figures and ratios

2023 value

EBITDA

€46k

Cash flow

€35k

Solvency

74.9%

Current ratio

3.58

Quick ratio

3.58

Debt / equity

0.33

ROE

97.1%

ROA

72.7%

Interest coverage

36.87

Debt

€11k

Debt ≤ 1 year

€11k

Income taxes

€11k

Filed annual accounts

As filed with the NBB · 2023

Balance sheet Code2023

Assets

Total assets20/58€45k

Fixed assets21/28€5k

Tangible fixed assets22/27€5k

Furniture and vehicles24€5k

Current assets29/58€41k

Amounts receivable within one year40/41€40k

Trade receivables40€11k

Other amounts receivable41€29k

Cash at bank and in hand54/58€313

Deferred charges and accrued income490/1€278

Equity and liabilities

Total equity and liabilities10/49€45k

Equity10/15€34k

Contributions10/11€1k

Profit (loss) carried forward14€33k

Amounts payable17/49€11k

Amounts payable within one year42/48€11k

Trade debts44€278

Suppliers440/4€278

Taxes, remuneration and social security45€11k

Taxes450/3€11k

Income statement Code2023

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1k

Other operating charges640/8€188

Gross operating margin9900€46k

Operating profit (loss)9901€45k

Financial income75/76B€778

Recurring financial income75€778

Financial charges65/66B€1k

Recurring financial charges65€1k

Profit (loss) for the period before taxes9903€44k

Income taxes67/77€11k

Profit (loss) for the period9904€33k

Profit (loss) for the period to be appropriated9905€33k

Appropriation of the result

Profit (loss) to be appropriated9906€33k

The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 1Filings 1

2024

30-09

NBB filing Annual accounts filed

fiscal year 2023 · micro schema · 61 days late

NBB filing

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, Wervik · 1 establishment unit since 2023

establishment The establishment unit on the map

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.

Vlamingenstraat 98940 Wervik

Ground area

664 m²

Building footprint

114 m²

Volume, LiDAR

1,066 m³

Parcel 33029C0392/00E000, Flanders · tallest building 12.7 m, ±4 floors. Linked by address, not a title deed.

1 establishment unit

MGA Project

Vlamingenstraat 9, 8940 WervikManufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials

since 20232.342.388.563

1 parcel

Flanders 1 (100%)