MGR CONSTRUCT
ActiveSummary
MGR CONSTRUCT has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €10,900 and a net result of €7,440. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 12% of 28254 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability75▲+6
Solvency32▲+5
Growth78=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days acceptable
Liquidity short (current ratio 0.95 against 0.88 in 2024; short-term debt: 92.9% and cash: 15.1% of total assets), and 92.9% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% 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 2025Solvency, return and age of the figures
Solvency
7.1%
Return on assets
4.9%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 12% of 28254 sector peers (2025).
NBB · sector comparisonPosition among 28254 sector peers
Solvency
better than 12%
← weakest
strongest →
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year €10,900
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 23-09-2026, 54 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 · 7 filingsDeviation from the deadline
2025
54 d late
2024
137 d late
2023
68 d late
2022
70 d late
2021
71 d late
2020
100 d late
2019
62 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 80 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you trust this company with building work?Contractor check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
€10,900▲ 215%
2024 · €3,460
Total assets
€152,459▼ 24.7%
2024 · €202,427
Net result
€7,440▲ 637%
2024 · €1,010
Working capital
-€6,877▲ 70.2%
2024 · -€23,094
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction activities, 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
Line20212022202320242025
Operating result-€3,370€2,493-€4,620€1,018€9,532▲ 836%
Net result-€3,438below the sector's middle half€1,746within the sector's middle half-€4,713below the sector's middle half€1,010within the sector's middle half€7,440within the sector's middle half▲ 637%
Equity€5,418below the sector's middle half▼ 38.8%€7,163below the sector's middle half▲ 32.2%€2,450below the sector's middle half▼ 65.8%€3,460below the sector's middle half▲ 41.2%€10,900below the sector's middle half▲ 215%
Total assets€126,303within the sector's middle half▼ 0.8%€86,856within the sector's middle half▼ 31.2%€82,521within the sector's middle half▼ 5.0%€202,427within the sector's middle half▲ 145%€152,459within the sector's middle half▼ 24.7%
Debt€120,885▲ 2.1%€79,692▼ 34.1%€80,070▲ 0.5%€198,967▲ 148%€141,558▼ 28.9%
Working capital-€9,034below the sector's middle half▼ 29.2%-€5,941below the sector's middle half▲ 34.2%-€12,584below the sector's middle half▼ 112%-€23,094below the sector's middle half▼ 83.5%-€6,877below the sector's middle half▲ 70.2%
Solvency4.3%below the sector's middle half▼ 2.7pp8.2%below the sector's middle half▲ 4.0pp3.0%below the sector's middle half▼ 5.3pp1.7%below the sector's middle half▼ 1.3pp7.1%below the sector's middle half▲ 5.4pp
Current ratio0.93below the sector's middle half▼ 0.020.93below the sector's middle half=0.84below the sector's middle half▼ 0.080.88below the sector's middle half▲ 0.040.95below the sector's middle half▲ 0.07
Return on assets (ROA)-2.7%below the sector's middle half▼ 22.1pp2.0%within the sector's middle half▲ 4.7pp-5.7%below the sector's middle half▼ 7.7pp0.5%within the sector's middle half▲ 6.2pp4.9%within the sector's middle half▲ 4.4pp
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 836% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €152,459
Fixed assets
€17,777 ▼ 33.1%
Current assets
€134,681 ▼ 23.4%
Equity and liabilities €152,459
Equity
€10,900 ▲ 215%
Debt
€141,558 ▼ 28.9%
Debt's share of the balance-sheet total falls from 98.3% to 92.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€19,396▲
2024 · €7,470
Cash flow
€17,305▲
2024 · €7,462
Debt to equity
12.99▼
2024 · 57.50
ROE
68.3%▲
2024 · 29.2%
Interest coverage
57.35▼
2024 · 103.30
Debt ≤ 1 year
€141,558▼
2024 · €198,967
Income taxes
€1,801
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,250 companies that looked in July 2024 the way this one looks now, 2.4% went bankrupt within 24 months and 94% are still going.
- Micro
- 5 to 10 years old
- solvency under 10%
- a profit under 5% of the balance sheet
2.4%
went bankrupt
2.6%
stopped otherwise
94%
still going
A further 0.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% 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 497,662 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% | 1.7% |
| 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 75% 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 1,250 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €549 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,734 | €4,579 | €4,967 | €6,452 | €9,864 | ▲ 52.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €148,335 | - |
| Other operating charges640/8 | €750 | €1,706 | €1,344 | €2,278 | €547 | ▼ 76.0% |
| Non-recurring operating charges66A | €1,621 | - | €1,084 | - | - | - |
| Gross operating margin9900 | €2,735 | €8,777 | €2,776 | €9,748 | €168,278 | ▲ 1,626% |
| Operating profit (loss)9901 | -€3,370 | €2,493 | -€4,620 | €1,018 | €9,532 | ▲ 836% |
| Financial income75/76B | €9 | €418 | €427 | €64 | €48 | ▼ 25.0% |
| Recurring financial income75 | €9 | €418 | €427 | €64 | €48 | ▼ 25.0% |
| Financial charges65/66B | €186 | €1,149 | €520 | €72 | €338 | ▲ 368% |
| Recurring financial charges65 | €186 | €1,149 | €520 | €72 | €338 | ▲ 368% |
| Profit (loss) for the period before taxes9903 | -€3,548 | €1,761 | -€4,713 | €1,010 | €9,241 | ▲ 815% |
| Income taxes67/77 | -€110 | €16 | - | - | €1,801 | - |
| Profit (loss) for the period9904 | -€3,438 | €1,746 | -€4,713 | €1,010 | €7,440 | ▲ 637% |
| Profit (loss) for the period to be appropriated9905 | -€3,438 | €1,746 | -€4,713 | €1,010 | €7,440 | ▲ 637% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €126,303 | €86,856 | €82,521 | €202,427 | €152,459 | ▼ 24.7% |
| Fixed assets21/28 | €14,451 | €13,104 | €15,035 | €26,554 | €17,777 | ▼ 33.1% |
| Intangible fixed assets21 | - | - | - | €2,382 | €1,855 | ▼ 22.1% |
| Tangible fixed assets22/27 | €13,616 | €11,504 | €13,435 | €22,572 | €14,323 | ▼ 36.5% |
| Plant, machinery and equipment23 | €3,104 | €3,500 | €8,231 | €7,382 | €5,148 | ▼ 30.3% |
| Furniture and vehicles24 | €10,513 | €8,004 | €5,203 | €15,190 | €9,174 | ▼ 39.6% |
| Financial fixed assets28 | €835 | €1,600 | €1,600 | €1,600 | €1,600 | = |
| Current assets29/58 | €111,852 | €73,751 | €67,486 | €175,873 | €134,681 | ▼ 23.4% |
| Amounts receivable within one year40/41 | €57,777 | €52,674 | €12,538 | €144,101 | €110,779 | ▼ 23.1% |
| Trade receivables40 | €39,410 | €44,671 | €9,766 | €126,705 | €98,858 | ▼ 22.0% |
| Other amounts receivable41 | €18,367 | €8,003 | €2,772 | €17,395 | €11,921 | ▼ 31.5% |
| Cash at bank and in hand54/58 | €52,400 | €20,398 | €53,325 | €30,236 | €23,014 | ▼ 23.9% |
| Deferred charges and accrued income490/1 | €1,675 | €679 | €1,623 | €1,536 | €888 | ▼ 42.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €126,303 | €86,856 | €82,521 | €202,427 | €152,459 | ▼ 24.7% |
| Equity10/15 | €5,418 | €7,163 | €2,450 | €3,460 | €10,900 | ▲ 215% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Profit (loss) carried forward14 | -€782 | €963 | -€3,750 | -€2,740 | €4,700 | ▲ 272% |
| Amounts payable17/49 | €120,885 | €79,692 | €80,070 | €198,967 | €141,558 | ▼ 28.9% |
| Amounts payable within one year42/48 | €120,885 | €79,692 | €80,070 | €198,967 | €141,558 | ▼ 28.9% |
| Trade debts44 | €105,354 | €67,658 | €59,436 | €174,325 | €108,845 | ▼ 37.6% |
| Suppliers440/4 | €105,354 | €67,658 | €59,436 | €174,325 | €108,845 | ▼ 37.6% |
| Taxes, remuneration and social security45 | €1,632 | €4,016 | €10,016 | - | €7,801 | - |
| Taxes450/3 | €1,632 | €16 | €16 | - | €1,801 | - |
| Remuneration and social security454/9 | - | €4,000 | €10,000 | - | €6,000 | - |
| Other amounts payable47/48 | €13,900 | €8,019 | €10,619 | €24,641 | €24,913 | ▲ 1.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€3,438 | €1,746 | -€4,713 | €1,010 | €7,440 | ▲ 637% |
| + Depreciation and write-downs630 | €3,734 | €4,579 | €4,967 | €6,452 | €9,864 | ▲ 52.9% |
| Operating cash flow (approximation) | €297 | €6,325 | €254 | €7,462 | €17,305 | ▲ 132% |
| Investment in fixed assets (approximation) | - | -€3,232 | -€6,897 | -€17,971 | -€1,088 | ▲ 93.9% |
| Change in cash | - | -€32,001 | €32,927 | -€23,090 | -€7,222 | ▲ 68.7% |
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
Next filing, fiscal year 2026, expected by
2026
23-09
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 54 days late
2025
15-12
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 137 days late
2024
31-12
Financial
Back to profitnet €1,010
Net result €1,010 after one loss-making year.
07-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 68 days late
2023
09-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 70 days late
2022
31-12
Financial
Back to profitnet €1,746
Net result €1,746 after one loss-making year.
10-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 71 days late
2021
08-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 100 days late
2020
31-12
Financial
Back to profitnet €24,728
Net result €24,728 after one loss-making year.
01-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 62 days late
Financial 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.
Have them read with priority
Sign in to place this company at the front of the reading queue.
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, Nivelles · 1 establishment unit since 2019
Ground area
70 m²
Building footprint
39 m²
Volume, LiDAR
496 m³
Parcel 25782C0193/00E000, Wallonia · tallest building 14.8 m, ±4 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
MGR CONSTRUCT
since 20192.287.494.184
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25782C0193/00E000 | Wallonia | 70 m² | 1 · 39 m² | 14.8 m · 4 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.
Similar companies · same sector, comparable size
Sunside MKM
BE 0538.620.709
Beauvechain · Eq €10,895
LHONNEUX DECORATION
BE 0879.633.018
Waremme · Eq €10,885
VCS Renovations
BE 0687.691.594
Tongeren-Borgloon · Eq €10,928
de Gouden Boom
BE 0633.536.890
Brugge · Eq €10,959
Live & Build
BE 0768.939.982
Lievegem · Eq €11,011
Of 7,300 companies in sector 43350 we hold annual accounts for 2,362. 1,457 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formCoöperatieve vennootschap met beperkte aansprakelijkheid
Founded04-04-2019
Fiscal year end31-12
Activities, NACEBEL 2025
43350Other building finishing work
43120Site preparation
43230Insulation installation
81300Landscape service activities
Contact
E-mail
mgr.construct.scrl@gmail.com
Phone
+32477860223
E-invoicing
Reachable via Peppol
Peppol ID
0208:0724553574
Also
9925:BE0724553574
Registered
23-12-2025
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.