MGH 2002
ActiveSummary
MGH 2002 has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €2.7m and a net result of €835,233. Equity is growing by ~8.8% per year across the filed fiscal years. Its solvency ranks better than 40% of 9046 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability82▼-1
Solvency60=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €170,000 at 30 days acceptable
Liquidity ample (current ratio 1.53 against 1.53 in 2023; short-term debt: 63% and cash: 6.4% of total assets), but 64.9% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
35.1%
Return on assets
10.9%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 09-07-2025, 22 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
22 d early
2023
12 d late
2022
54 d early
2021
51 d early
2020
32 d early
2019
53 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 33 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, abbreviated schema
Equity
€2.7m▲ 3.7%
2023 · €2.6m
Total assets
€7.7m▲ 4.4%
2023 · €7.4m
Net result
€835,233▼ 0.6%
2023 · €840,300
Working capital
€2.6m▲ 3.6%
2023 · €2.5m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€561,477▼ 30.8%€558,925▼ 0.5%€792,649▲ 41.8%€1.2m▲ 46.9%€1.2m▲ 1.1%
Net result€410,943above the sector's middle half▼ 24.7%€398,652above the sector's middle half▼ 3.0%€565,268above the sector's middle half▲ 41.8%€840,300above the sector's middle half▲ 48.7%€835,233above the sector's middle half▼ 0.6%
Equity€2.3mabove the sector's middle half▲ 20.4%€1.4mabove the sector's middle half▼ 41.7%€1.9mabove the sector's middle half▲ 39.8%€2.6mabove the sector's middle half▲ 37.6%€2.7mabove the sector's middle half▲ 3.7%
Total assets€5.5mabove the sector's middle half▲ 59.2%€5.3mabove the sector's middle half▼ 3.3%€6.2mabove the sector's middle half▲ 17.3%€7.4mabove the sector's middle half▲ 18.4%€7.7mabove the sector's middle half▲ 4.4%
Debt€3.1m▲ 119%€3.9m▲ 25.3%€4.2m▲ 9.3%€4.6m▲ 10.0%€4.9m▲ 4.7%
Working capital€2.3m▲ 42.3%€1.3m▼ 44.1%€1.8m▲ 37.6%€2.5m▲ 41.1%€2.6m▲ 3.6%
Solvency42.3%within the sector's middle half▼ 13.6pp25.5%within the sector's middle half▼ 16.8pp30.4%within the sector's middle half▲ 4.9pp35.4%within the sector's middle half▲ 4.9pp35.1%within the sector's middle half▼ 0.2pp
Staff (FTE)28.4above the sector's middle half▲ 6.0%28.8above the sector's middle half▲ 1.4%30.7above the sector's middle half▲ 6.6%30.6above the sector's middle half▼ 0.3%29.3above the sector's middle half▼ 4.2%
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2021 the operating result has climbed three years in a row; 2024 is 1% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €7.7m
Fixed assets
€287,353 ▲ 4.8%
Current assets
€7.4m ▲ 4.4%
Equity and liabilities €7.7m
Equity
€2.7m ▲ 3.7%
Provisions
€136,633 ▲ 9.2%
Debt
€4.9m ▲ 4.7%
Debt's share of the balance-sheet total rises from 62.9% to 63.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€1.2m▲
2023 · €1.2m
Cash flow
€903,139▼
2023 · €904,496
Current ratio
1.53▼
2023 · 1.53
Quick ratio
0.59▼
2023 · 0.63
Debt to equity
1.80▲
2023 · 1.78
ROE
30.9%▼
2023 · 32.2%
ROA
10.9%▼
2023 · 11.4%
Interest coverage
37.27▼
2023 · 38.77
Debt ≤ 1 year
€4.8m▲
2023 · €4.6m
Debt > 1 year
€9,190▼
2023 · €16,054
Income taxes
€309,127▼
2023 · €312,242
Staff costs
€2.4m▲
2023 · €2.3m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 20,082 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
4.7%
stopped otherwise
95%
still going
For this company itself Checked computes a bankruptcy probability of 0.5% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 20,082 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €207 | - |
| Remuneration, social security and pensions62 | - | €1.9m | €2.3m | €2.3m | €2.4m | ▲ 0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €61,813 | €61,020 | €54,714 | €64,195 | €67,906 | ▲ 5.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | -€219 | -€532 | -€2,036 | €70,476 | ▲ 3,562% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | €7,564 | €16,235 | €15,897 | €11,458 | ▼ 27.9% |
| Other operating charges640/8 | - | €9,899 | €5,034 | €28,860 | €5,177 | ▼ 82.1% |
| Non-recurring operating charges66A | - | €3,360 | €5 | €20,524 | €1,418 | ▼ 93.1% |
| Gross operating margin9900 | €2.5m | €2.5m | €3.2m | €3.6m | €3.7m | ▲ 1.6% |
| Operating profit (loss)9901 | €561,477 | €558,925 | €792,649 | €1.2m | €1.2m | ▲ 1.1% |
| Financial income75/76B | - | €16,393 | €5,861 | €19,933 | €608 | ▼ 97.0% |
| Recurring financial income75 | €38,300 | €2,694 | €5,861 | €19,933 | €608 | ▼ 97.0% |
| Non-recurring financial income76B | - | €13,698 | - | - | - | - |
| Financial charges65/66B | - | €17,240 | €16,948 | €31,685 | €33,403 | ▲ 5.4% |
| Recurring financial charges65 | €16,612 | €17,240 | €16,948 | €31,685 | €33,403 | ▲ 5.4% |
| Profit (loss) for the period before taxes9903 | €583,165 | €558,078 | €781,562 | €1.2m | €1.1m | ▼ 0.7% |
| Income taxes67/77 | €172,223 | €159,426 | €216,294 | €312,242 | €309,127 | ▼ 1.0% |
| Profit (loss) for the period9904 | €410,943 | €398,652 | €565,268 | €840,300 | €835,233 | ▼ 0.6% |
| Transfer to tax-exempt reserves689 | - | - | €252,600 | €294,700 | - | - |
| Profit (loss) for the period to be appropriated9905 | €436,193 | €398,652 | €312,668 | €545,600 | €835,233 | ▲ 53.1% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €5.5m | €5.3m | €6.2m | €7.4m | €7.7m | ▲ 4.4% |
| Fixed assets21/28 | €281,100 | €273,255 | €308,342 | €274,273 | €287,353 | ▲ 4.8% |
| Tangible fixed assets22/27 | €262,361 | €254,516 | €289,603 | €255,534 | €268,713 | ▲ 5.2% |
| Land and buildings22 | - | €175,090 | €151,923 | €128,756 | €136,740 | ▲ 6.2% |
| Plant, machinery and equipment23 | - | €59,963 | €52,554 | €39,641 | €30,517 | ▼ 23.0% |
| Furniture and vehicles24 | - | €3,303 | €65,774 | €74,252 | €92,223 | ▲ 24.2% |
| Leasing and similar rights25 | - | €16,159 | €8,079 | - | - | - |
| Other tangible fixed assets26 | - | - | €11,273 | €12,886 | €9,233 | ▼ 28.3% |
| Financial fixed assets28 | €18,739 | €18,739 | €18,739 | €18,739 | €18,640 | ▼ 0.5% |
| Current assets29/58 | €5.2m | €5.0m | €5.9m | €7.1m | €7.4m | ▲ 4.4% |
| Stocks and contracts in progress3 | €1.4m | €2.6m | €3.2m | €4.2m | €4.6m | ▲ 9.4% |
| Stocks30/36 | - | €1.5m | €2.1m | €2.6m | €2.9m | ▲ 11.7% |
| Contracts in progress37 | - | €1.0m | €1.1m | €1.6m | €1.7m | ▲ 5.6% |
| Amounts receivable within one year40/41 | €1.5m | €1.9m | €1.8m | €2.3m | €2.3m | ▼ 0.5% |
| Trade receivables40 | - | €1.9m | €1.8m | €2.3m | €2.3m | ▼ 0.6% |
| Other amounts receivable41 | - | €56,294 | €43,706 | €420 | €1,698 | ▲ 304% |
| Cash at bank and in hand54/58 | €1.4m | €555,109 | €870,380 | €567,866 | €493,841 | ▼ 13.0% |
| Deferred charges and accrued income490/1 | - | €2,978 | €12,130 | €25,345 | €31,394 | ▲ 23.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €5.5m | €5.3m | €6.2m | €7.4m | €7.7m | ▲ 4.4% |
| Equity10/15 | €2.3m | €1.4m | €1.9m | €2.6m | €2.7m | ▲ 3.7% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | - | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | - | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Reserves13 | €2.3m | €1.3m | €1.8m | €2.5m | €2.6m | ▲ 3.8% |
| Non-distributable reserves130/1 | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Legal reserve130 | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Tax-exempt reserves132 | - | - | €252,600 | €547,300 | €547,300 | = |
| Distributable reserves133 | - | €1.3m | €1.6m | €2.0m | €2.1m | ▲ 4.9% |
| Provisions and deferred taxes16 | €85,478 | €93,042 | €109,277 | €125,175 | €136,633 | ▲ 9.2% |
| Provisions for liabilities and charges160/5 | - | €93,042 | €109,277 | €125,175 | €136,633 | ▲ 9.2% |
| Major repairs and maintenance162 | - | €93,042 | €109,277 | €125,175 | €136,633 | ▲ 9.2% |
| Amounts payable17/49 | €3.1m | €3.9m | €4.2m | €4.6m | €4.9m | ▲ 4.7% |
| Amounts payable after more than one year17 | €149,403 | €99,231 | €56,949 | €16,054 | €9,190 | ▼ 42.8% |
| Financial debts170/4 | - | €90,041 | €47,759 | €6,864 | - | - |
| Other amounts payable178/9 | - | €9,190 | €9,190 | €9,190 | €9,190 | = |
| Amounts payable within one year42/48 | €2.9m | €3.8m | €4.2m | €4.6m | €4.8m | ▲ 4.8% |
| Current portion of amounts payable after more than one year42 | - | €50,172 | €42,283 | €40,894 | €6,864 | ▼ 83.2% |
| Financial debts43 | - | €161,250 | €411,432 | €512,613 | €600,022 | ▲ 17.1% |
| Credit institutions430/8 | - | €161,250 | €411,432 | €512,613 | €600,022 | ▲ 17.1% |
| Trade debts44 | €2.3m | €2.9m | €3.4m | €3.7m | €3.6m | ▼ 2.6% |
| Suppliers440/4 | - | €2.9m | €3.4m | €3.7m | €3.6m | ▼ 2.6% |
| Taxes, remuneration and social security45 | - | €628,558 | €319,201 | €272,866 | €246,499 | ▼ 9.7% |
| Taxes450/3 | - | €459,939 | €120,301 | €91,477 | €55,689 | ▼ 39.1% |
| Remuneration and social security454/9 | - | €168,619 | €198,900 | €181,389 | €190,810 | ▲ 5.2% |
| Other amounts payable47/48 | - | €16,967 | €25,650 | €98,575 | €390,261 | ▲ 296% |
| Accrued charges and deferred income492/3 | - | €81 | - | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €410,943 | €398,652 | €565,268 | €840,300 | €835,233 | ▼ 0.6% |
| + Depreciation and write-downs630 | €61,813 | €61,020 | €54,714 | €64,195 | €67,906 | ▲ 5.8% |
| Operating cash flow (approximation) | €472,755 | €459,672 | €619,982 | €904,496 | €903,139 | ▼ 0.1% |
| Investment in fixed assets (approximation) | - | -€53,175 | -€89,801 | -€30,127 | -€80,985 | ▼ 169% |
| Change in cash | - | -€823,472 | €315,271 | -€302,514 | -€74,025 | ▲ 75.5% |
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
09-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
12-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 12 days late
2023
31-12
Financial
Highest result since 2018net €840,300 ▲48.7%
Net result €840,300, the highest in the series.
31-12
Financial
Equity above €2mEq €2.6m ▲37.6%
6 profitable years in a row build equity to €2.6m.
07-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
10-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
29-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Equity above €2mEq €2.3m ▲20.4%
3 profitable years in a row build equity to €2.3m.
08-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
11-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
16-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
28-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 28 days late
2016
17-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 17 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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
7 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, Machelen (Brab.) · 2 establishment units since 2002
Ground area
2.6 ha
Building footprint
1.2 ha
Volume, LiDAR
86,390 m³
3 parcels, Flanders · tallest building 12.8 m, ±3 floors. Linked by address, not a title deed.
2 establishment units
MGH 2002
since 20022.114.314.245
MGH ANTWERP
since 20112.201.951.666
3 parcels
Flanders
3
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23047A0435/00C012 | Flanders | 1.3 ha | 1 · 2,447 m² | 12.8 m · 1 fl. |
| 11817F0633/04_000 | Flanders | 8,955 m² | 1 · 8,956 m² | 10.6 m · 3 fl. |
| 23047A0137/00V000 | Flanders | 3,488 m² | 1 · 844 m² | - |
Linked by address, not proof of ownership
Good to know
3 of 3 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
1 ownerChain of control
- OMNIRESULT
- MGH 2002
Highest known parent: OMNIRESULT. The sources do not say who stands above it.
Owners 1
- OMNIRESULTparentSourceaccounts OMNIRESULT 2025100%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 5 entries · 8,235 EUR awarded · 8,071 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 2,259 EUR | 2,095 EUR |
| 2024 | 1 | 608 EUR | 608 EUR |
| 2023 | 2 | 4,966 EUR | 4,966 EUR |
| 2022 | 1 | 402 EUR | 402 EUR |
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Of 2,503 companies in sector 46649 we hold annual accounts for 1,756. 1,127 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded17-07-2002
Fiscal year end31-12
Abbreviation NL
MGH
Activities, NACEBEL 2025
28150Manufacture of machinery and equipment not elsewhere classified
46649Wholesale of other machinery and equipment
E-invoicing
Reachable via Peppol
Peppol ID
0208:0477997984
Also
9925:BE0477997984
Registered
04-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.