MGG CONSTRUCT
ActiveSummary
MGG CONSTRUCT has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €47k and a net result of €404. Equity is growing by ~9.8% per year across the filed fiscal years. Its solvency ranks better than 89% of 9982 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability56▼-10
Solvency100▲+32
Growth68▲+2
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2.5k at 30 days only on tighter terms
Liquidity ample (current ratio 11.83 against 1.9 in 2023; short-term debt: 6.7% and cash: 53.2% of total assets), and 18% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 41
Relative position
BE, all sectors
reference
Construction of residential and non-residential buildings (NACE 41)
about 67% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 · 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 2024Solvency, return and age of the figures
Solvency
82%
Return on assets
0.7%
Age of the figures
21 mo
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-11-2025, 122 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
122 d late
2023
61 d late
2022
60 d late
2021
57 d late
2020
217 d late
2019
61 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Turnover
€349k▲ 34.2%
2023 · €260k
2020: €158klowest in 5 years
2021: €164k▲ +3.5% vs 2020
2022: €209k▲ +27.7% vs 2021
2023: €260k▲ +24.3% vs 2022
2024: €349k▲ +34.2% vs 2023highest in 5 years
2020 → 2024
EBIT margin
0.4%▼ 3.8pp
2023 · 4.2%
2020: 8.7%highest in 5 years
2021: 1.2%▼ -86.3% vs 2020
2022: 0.7%▼ -41.1% vs 2021
2023: 4.2%▲ +500% vs 2022
2024: 0.4%▼ -90.9% vs 2023lowest in 5 years
2020 → 2024
Net result
€404▼ 94.4%
2023 · €7k
2018: €8k
2019: €-97▼ -101% vs 2018lowest in 7 years
2020: €11k▲ +11007% vs 2019highest in 7 years
2021: €1k▼ -87.2% vs 2020
2022: €539▼ -60.0% vs 2021
2023: €7k▲ +1232% vs 2022
2024: €404▼ -94.4% vs 2023
2018 → 2024
Working capital
€41k▼ 10.7%
2023 · €46k
2018: €15klowest in 7 years
2019: €19k▲ +23.4% vs 2018
2020: €35k▲ +88.6% vs 2019
2021: €38k▲ +9.2% vs 2020
2022: €39k▲ +1.6% vs 2021
2023: €46k▲ +18.4% vs 2022highest in 7 years
2024: €41k▼ -10.7% vs 2023
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Turnover€158k-€164k▲ 3.5%€209k▲ 27.7%€260k▲ 24.3%€349k▲ 34.2%
2020: €158klowest in 5 years
2021: €164k▲ +3.5% vs 2020
2022: €209k▲ +27.7% vs 2021
2023: €260k▲ +24.3% vs 2022
2024: €349k▲ +34.2% vs 2023highest in 5 years
Equity€37k-€39k▲ 3.6%€39k▲ 1.4%€46k▲ 18.3%€47k▲ 0.9%
2020: €37klowest in 5 years
2021: €39k▲ +3.6% vs 2020
2022: €39k▲ +1.4% vs 2021
2023: €46k▲ +18.3% vs 2022
2024: €47k▲ +0.9% vs 2023highest in 5 years
Operating result€14k-€2k▼ 85.8%€1k▼ 24.8%€11k▲ 646%€1k▼ 87.8%
2020: €14khighest in 5 years
2021: €2k▼ -85.8% vs 2020
2022: €1k▼ -24.8% vs 2021
2023: €11k▲ +646% vs 2022
2024: €1k▼ -87.8% vs 2023lowest in 5 years
Net result€11k-€1k▼ 87.2%€539▼ 60.0%€7k▲ 1,232%€404▼ 94.4%
2020: €11khighest in 5 years
2021: €1k▼ -87.2% vs 2020
2022: €539▼ -60.0% vs 2021
2023: €7k▲ +1232% vs 2022
2024: €404▼ -94.4% vs 2023lowest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 88% below 2023 and is the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €57k
Fixed assets
€12k ▲ 2.4%
Current assets
€45k ▼ 53.7%
Equity and liabilities €57k
Equity
€47k ▲ 0.9%
Debt
€10k ▼ 83.6%
Debt's share of the balance-sheet total falls from 57.5% to 18.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€9k▼
2023 · €16k
Cash flow
€8k▼
2023 · €12k
Current ratio
11.83▲
2023 · 1.90
Debt to equity
0.22▼
2023 · 1.35
ROE
0.9%▼
2023 · 15.5%
ROA
0.7%▼
2023 · 6.6%
Interest coverage
22.24▲
2023 · 11.56
Debt ≤ 1 year
€4k▼
2023 · €51k
Debt > 1 year
€6k▼
2023 · €12k
Income taxes
€538▼
2023 · €2k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 49 lines
Balance sheet
Code20232024
Assets
Total assets20/58€109k€57k▼
Fixed assets21/28€12k€12k▲
Tangible fixed assets22/27€11k€11k▲
Plant, machinery and equipment23-€594
Furniture and vehicles24€11k€11k▼
Financial fixed assets28€881€881=
Current assets29/58€97k€45k▼
Amounts receivable within one year40/41€50k€15k▼
Trade receivables40€45k€4k▼
Other amounts receivable41€6k€11k▲
Cash at bank and in hand54/58€47k€30k▼
Equity and liabilities
Total equity and liabilities10/49€109k€57k▼
Equity10/15€46k€47k▲
Contributions10/11€6k€6k=
Capital10€6k-
Issued capital100€19k-
Uncalled capital101€12k-
Outside capital11-€6k
Other1109/19-€6k
Reserves13€2k€2k=
Non-distributable reserves130/1€2k€2k=
Legal reserve130€2k€2k=
Profit (loss) carried forward14€38k€39k▲
Amounts payable17/49€63k€10k▼
Amounts payable after more than one year17€12k€6k▼
Financial debts170/4€12k€6k▼
Amounts payable within one year42/48€51k€4k▼
Trade debts44€45k€3k▼
Suppliers440/4€45k€3k▼
Taxes, remuneration and social security45€2k€463▼
Taxes450/3€2k€463▼
Other amounts payable47/48€4k-
Income statement
Code20232024
Turnover70€260k€349k▲
Goods, raw materials, services and sundry goods60/61€256k€341k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€5k€7k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€5k-
Other operating charges640/8€1k€1k▲
Gross operating margin9900€22k€10k▼
Operating profit (loss)9901€11k€1k▼
Financial income75/76B€4-
Recurring financial income75€4-
Financial charges65/66B€1k€391▼
Recurring financial charges65€1k€391▼
Profit (loss) for the period before taxes9903€10k€942▼
Income taxes67/77€2k€538▼
Profit (loss) for the period9904€7k€404▼
Profit (loss) for the period to be appropriated9905€7k€404▼
Appropriation of the result
Profit (loss) to be appropriated9906€38k€39k▲
Profit (loss) brought forward from the previous period14P€31k€38k▲
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €158k | €164k | €209k | €260k | €349k | ▲ 34.2% |
| Goods, raw materials, services and sundry goods60/61 | - | €156k | €202k | €256k | €341k | ▲ 33.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6k | €6k | €5k | €5k | €7k | ▲ 48.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €5k | - | - |
| Other operating charges640/8 | - | €602 | €1k | €1k | €1k | ▲ 5.6% |
| Gross operating margin9900 | €21k | €8k | €8k | €22k | €10k | ▼ 54.4% |
| Operating profit (loss)9901 | €14k | €2k | €1k | €11k | €1k | ▼ 87.8% |
| Financial income75/76B | - | €1 | €2 | €4 | - | - |
| Recurring financial income75 | - | €1 | €2 | €4 | - | - |
| Financial charges65/66B | - | €144 | €1k | €1k | €391 | ▼ 71.5% |
| Recurring financial charges65 | €216 | €144 | €1k | €1k | €391 | ▼ 71.5% |
| Profit (loss) for the period before taxes9903 | €14k | €2k | €259 | €10k | €942 | ▼ 90.1% |
| Income taxes67/77 | €3k | €454 | €-280 | €2k | €538 | ▼ 77.2% |
| Profit (loss) for the period9904 | €11k | €1k | €539 | €7k | €404 | ▼ 94.4% |
| Profit (loss) for the period to be appropriated9905 | €11k | €1k | €539 | €7k | €404 | ▼ 94.4% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €55k | €70k | €61k | €109k | €57k | ▼ 47.7% |
| Fixed assets21/28 | €3k | €22k | €17k | €12k | €12k | ▲ 2.4% |
| Tangible fixed assets22/27 | €2k | €21k | €16k | €11k | €11k | ▲ 2.6% |
| Plant, machinery and equipment23 | - | - | - | - | €594 | - |
| Furniture and vehicles24 | - | €21k | €16k | €11k | €11k | ▼ 2.9% |
| Financial fixed assets28 | €881 | €881 | €881 | €881 | €881 | = |
| Current assets29/58 | €52k | €48k | €44k | €97k | €45k | ▼ 53.7% |
| Amounts receivable within one year40/41 | €30k | €40k | €30k | €50k | €15k | ▼ 70.7% |
| Trade receivables40 | - | €33k | €25k | €45k | €4k | ▼ 92.1% |
| Other amounts receivable41 | - | €7k | €5k | €6k | €11k | ▲ 99.8% |
| Cash at bank and in hand54/58 | €22k | €8k | €14k | €47k | €30k | ▼ 35.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €55k | €70k | €61k | €109k | €57k | ▼ 47.7% |
| Equity10/15 | €37k | €39k | €39k | €46k | €47k | ▲ 0.9% |
| Contributions10/11 | €6k | €6k | €6k | €6k | €6k | = |
| Capital10 | - | €6k | €6k | €6k | - | - |
| Issued capital100 | - | €19k | €19k | €19k | - | - |
| Uncalled capital101 | - | €12k | €12k | €12k | - | - |
| Outside capital11 | - | - | - | - | €6k | - |
| Other1109/19 | - | - | - | - | €6k | - |
| Reserves13 | €2k | €2k | €2k | €2k | €2k | = |
| Non-distributable reserves130/1 | - | €2k | €2k | €2k | €2k | = |
| Legal reserve130 | - | €2k | €2k | €2k | €2k | = |
| Profit (loss) carried forward14 | €29k | €31k | €31k | €38k | €39k | ▲ 1.1% |
| Amounts payable17/49 | €17k | €31k | €21k | €63k | €10k | ▼ 83.6% |
| Amounts payable after more than one year17 | - | €21k | €17k | €12k | €6k | ▼ 43.9% |
| Financial debts170/4 | - | €21k | €17k | €12k | €6k | ▼ 43.9% |
| Amounts payable within one year42/48 | €17k | €10k | €5k | €51k | €4k | ▼ 92.5% |
| Trade debts44 | €12k | €5k | €4k | €45k | €3k | ▼ 92.6% |
| Suppliers440/4 | - | €5k | €4k | €45k | €3k | ▼ 92.6% |
| Taxes, remuneration and social security45 | - | €4k | €1k | €2k | €463 | ▼ 80.3% |
| Taxes450/3 | - | €4k | €580 | €2k | €463 | ▼ 80.3% |
| Remuneration and social security454/9 | - | - | €702 | - | - | - |
| Other amounts payable47/48 | - | €1k | - | €4k | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €11k | €1k | €539 | €7k | €404 | ▼ 94.4% |
| + Depreciation and write-downs630 | €6k | €6k | €5k | €5k | €7k | ▲ 48.7% |
| Operating cash flow (approximation) | €17k | €7k | €5k | €12k | €8k | ▼ 36.0% |
| Investment in fixed assets (approximation) | - | €-25k | €0 | €0 | €-8k | - |
| Change in cash | - | €-14k | €5k | €33k | €-17k | ▼ 150% |
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
2025
30-11
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 122 days late
2024
31-12
Financial
Liquidity times 6current ratio 11.83
Current ratio from 1.90 to 11.83; short-term debt falls from €51k to €4k.
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 61 days late
2023
29-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 60 days late
2022
26-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 57 days late
05-03
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 217 days late
2020
31-12
Financial
Back to profitnet €11k
Net result €11k after one loss-making year.
30-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 61 days late
2019
31-12
Financial
Weakest financial yearnet €-97
Net result drops to €-97, the lowest in the series; recovery starts the following year.
26-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
28-09
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 59 days late
2017
29-09
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 60 days late
2016
31-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 12 acts read
About the unread acts
We know of 12 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
12 acts for this company are 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, Jodoigne · 1 establishment unit since 2012
Ground area
863 m²
Building footprint
108 m²
Volume, LiDAR
932 m³
Parcel 25096B0419/00L002, Wallonia · tallest building 10.7 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Rue Basse Hollande(S.-R.-G.) 12, 1370 Jodoigne
since 20122.252.548.945
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25096B0419/00L002 | Wallonia | 863 m² | 1 · 108 m² | 10.7 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 29,779 companies in sector 41001 we hold annual accounts for 16,044. 13,033 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded01-08-2012
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
Scores and ratios are computed by Checked and are not a credit decision.