MGV PROJECTS
ActiveSummary
MGV PROJECTS has been active since 2015 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €188,320 and a net result of €18,644. Equity has been growing by about 19% per year since 2018. Its solvency ranks better than 76% of 5,684 sector peers (NACE 81, financial year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 20-11-2015 Normal situation
- Activity
- General cleaning of buildings NACE 81210
- Establishment unit
- 2.247.552.752 8900 Ieper, since 20-11-2015
- Financial year end
- 31 December
- Peppol
- Reachable since 31-10-2023
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.4%
- Gross margin
- €93,375
- ▲ 4.5%
- Turnover
- ≈ €260,000
- estimated
- Profit
- €18,644
- ▲ 5.3%
- Equity
- €188,320
- ▲ 11.0%
- Total assets
- €287,680
- ▲ 12.6%
- Employees on 31-12-2025
- 1
- =
- 2025 accounts filed 2 days after the deadline
Score breakdownraises riskSector: Services to buildings and landscape activities (NACE 81)Size: total assets €287,680lowers riskFounded in 2015Figures for financial year 2025 (filed on 02-08-2026)Show the evidence
Checked score
About 4 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 81, micro). It does better than 76% of them on solvency, 53% on liquidity, 52% on profitability and 54% on growth.
The bankruptcy probability was computed on 02-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 7 accounts on average 27 days after the deadline. In the sector (NACE 81), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, micro format
2025 annual accounts filed 2 days after the deadline Filed on 2 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00372338.
Annual accounts 2025 filed on 02-08-2026 at the NBB all 10 filings
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result for 2025 is 4% higher than in 2024. It is a recovery after the fall in 2024.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Average staff per financial year, in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Services to buildings and landscape activities (NACE 81). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).
Staff
| Item | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | 1 | 1 |
| full-time | 1 | 1 | 1 | 1 |
| in full-time equivalents | 1 | 1 | 1 | 1 |
| Average over the year, in full-time equivalents | 0.2 | 0.8 | 1.1 | 1.1 |
| On a permanent contract | 1 | 1 | 1 | 1 |
| Joined | 1 | 5 | 1 | 3 |
| Left | 0 | 5 | 1 | 3 |
| Training hours | 8 | 21 | 22 | - |
Source: social balance sheet in the 2022 to 2025 annual accounts
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Carrying value of the other pledged assets | €34,124 | €55,026 | €69,763 | €51,201 | €75,790 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €56,138 | €67,022 | - | €60,555 |
| Depreciation and write-downs of the year | €14,086 | €20,822 | €20,346 | €21,089 | €14,557 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | - | €5,179 | €31,811 | €41,056 | €43,130 | ▲ 5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €11,513 | €13,513 | €9,233 | €14,086 | €20,822 | €20,346 | €21,089 | €14,557 | ▼ 31.0% |
| Other operating charges640/8 | - | - | - | €3,360 | €4,902 | €3,361 | €1,888 | €3,160 | ▲ 67.3% |
| Non-recurring operating charges66A | - | - | - | - | - | €4,468 | - | €6,213 | - |
| Gross operating margin9900 | €36,978 | €42,968 | €61,768 | €36,866 | €74,413 | €85,640 | €89,349 | €93,375 | ▲ 4.5% |
| Operating profit (loss)9901 | €23,992 | €28,497 | €50,286 | €19,420 | €43,510 | €25,654 | €25,315 | €26,315 | ▲ 3.9% |
| Financial income75/76B | - | - | - | €1,980 | €1,348 | €1,456 | €1,382 | €1,686 | ▲ 22.1% |
| Recurring financial income75 | €0 | €12 | €758 | €1,980 | €1,348 | €1,456 | €1,382 | €1,686 | ▲ 22.1% |
| Financial charges65/66B | - | - | - | €1,327 | €2,345 | €3,047 | €2,473 | €3,998 | ▲ 61.6% |
| Recurring financial charges65 | €574 | €506 | €1,242 | €1,327 | €2,345 | €3,047 | €2,473 | €3,998 | ▲ 61.6% |
| Profit (loss) for the period before taxes9903 | €23,419 | €28,003 | €49,802 | €20,073 | €42,513 | €24,064 | €24,223 | €24,003 | ▼ 0.9% |
| Income taxes67/77 | €5,551 | €4,342 | €12,506 | €6,518 | €7,315 | €6,255 | €6,514 | €5,359 | ▼ 17.7% |
| Profit (loss) for the period9904 | €17,868 | €23,661 | €37,296 | €13,555 | €35,198 | €17,808 | €17,709 | €18,644 | ▲ 5.3% |
| Profit (loss) for the period to be appropriated9905 | €17,868 | €23,661 | €37,296 | €13,555 | €35,198 | €17,808 | €17,709 | €18,644 | ▲ 5.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €62,422 | €99,825 | €154,879 | €159,097 | €215,672 | €241,814 | €255,400 | €287,680 | ▲ 12.6% |
| Fixed assets21/28 | €13,957 | €33,069 | €49,256 | €35,170 | €70,487 | €77,696 | €56,606 | €81,503 | ▲ 44.0% |
| Tangible fixed assets22/27 | €13,957 | €33,069 | €49,256 | €35,170 | €70,487 | €77,696 | €56,606 | €81,503 | ▲ 44.0% |
| Plant, machinery and equipment23 | - | - | - | €13,966 | €52,922 | €38,342 | €29,585 | €20,918 | ▼ 29.3% |
| Furniture and vehicles24 | - | - | - | €21,204 | €15,571 | €37,800 | €25,907 | €59,911 | ▲ 131% |
| Other tangible fixed assets26 | - | - | - | - | €1,993 | €1,553 | €1,114 | €674 | ▼ 39.5% |
| Current assets29/58 | €48,464 | €66,756 | €105,623 | €123,926 | €145,185 | €164,118 | €198,793 | €206,176 | ▲ 3.7% |
| Amounts receivable after more than one year29 | - | - | - | €34,000 | €54,000 | €69,000 | €69,000 | €84,000 | ▲ 21.7% |
| Other amounts receivable291 | - | - | - | €34,000 | €54,000 | €69,000 | €69,000 | €84,000 | ▲ 21.7% |
| Amounts receivable within one year40/41 | €36,660 | €40,396 | €67,069 | €72,199 | €50,653 | €70,510 | €118,696 | €107,930 | ▼ 9.1% |
| Trade receivables40 | - | - | - | €62,547 | €40,649 | €62,178 | €110,652 | €90,038 | ▼ 18.6% |
| Other amounts receivable41 | - | - | - | €9,652 | €10,005 | €8,333 | €8,045 | €17,892 | ▲ 122% |
| Cash at bank and in hand54/58 | €11,804 | €14,056 | €15,588 | €16,136 | €38,449 | €23,862 | €9,166 | €12,954 | ▲ 41.3% |
| Deferred charges and accrued income490/1 | - | - | - | €1,591 | €2,083 | €746 | €1,931 | €1,292 | ▼ 33.1% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €62,422 | €99,825 | €154,879 | €159,097 | €215,672 | €241,814 | €255,400 | €287,680 | ▲ 12.6% |
| Equity10/15 | €32,449 | €48,110 | €85,406 | €98,961 | €134,159 | €151,967 | €169,677 | €188,320 | ▲ 11.0% |
| Contributions10/11 | €6,200 | €6,200 | - | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €25,860 | €41,860 | €78,860 | €91,860 | €127,860 | €144,860 | €162,860 | €181,860 | ▲ 11.7% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | - | - | - | €90,000 | €126,000 | €144,860 | €162,860 | €181,860 | ▲ 11.7% |
| Profit (loss) carried forward14 | €389 | €50 | €346 | €901 | €99 | €907 | €617 | €260 | ▼ 57.8% |
| Amounts payable17/49 | €29,972 | €51,714 | €69,473 | €60,135 | €81,513 | €89,847 | €85,723 | €99,359 | ▲ 15.9% |
| Amounts payable after more than one year17 | €7,000 | €23,610 | €43,135 | €26,024 | €45,319 | €48,456 | €27,294 | €56,376 | ▲ 107% |
| Financial debts170/4 | - | - | - | €26,024 | €45,319 | €48,456 | €27,294 | €56,376 | ▲ 107% |
| Amounts payable within one year42/48 | €22,972 | €28,105 | €26,338 | €34,111 | €36,194 | €40,986 | €57,979 | €42,983 | ▼ 25.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | €11,905 | €21,505 | €24,392 | €21,162 | €26,917 | ▲ 27.2% |
| Trade debts44 | €4,165 | €4,029 | €7,325 | €8,550 | €5,221 | €3,319 | €27,353 | €5,762 | ▼ 78.9% |
| Suppliers440/4 | - | - | - | €8,550 | €5,221 | €3,319 | €27,353 | €5,762 | ▼ 78.9% |
| Advances received on contracts in progress46 | - | - | - | €6,945 | €6,945 | €6,945 | €6,945 | €6,945 | = |
| Taxes, remuneration and social security45 | - | - | - | €5,030 | €862 | €2,431 | €2,217 | €1,689 | ▼ 23.8% |
| Taxes450/3 | - | - | - | €5,030 | €862 | €664 | €577 | €633 | ▲ 9.7% |
| Remuneration and social security454/9 | - | - | - | - | - | €1,767 | €1,641 | €1,056 | ▼ 35.6% |
| Other amounts payable47/48 | - | - | - | €1,682 | €1,661 | €3,898 | €302 | €1,669 | ▲ 452% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | €405 | €450 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €17,868 | €23,661 | €37,296 | €13,555 | €35,198 | €17,808 | €17,709 | €18,644 | ▲ 5.3% |
| + Depreciation and write-downs630 | €11,513 | €13,513 | €9,233 | €14,086 | €20,822 | €20,346 | €21,089 | €14,557 | ▼ 31.0% |
| Operating cash flow (approximation) | €29,381 | €37,174 | €46,528 | €27,641 | €56,020 | €38,154 | €38,798 | €33,201 | ▼ 14.4% |
| Investment in fixed assets (approximation) | - | -€32,625 | -€25,420 | €0 | -€56,138 | -€27,555 | €0 | -€39,454 | - |
| Change in cash | - | €2,252 | €1,531 | €549 | €22,313 | -€14,587 | -€14,696 | €3,787 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 34,693 companies had the same profile as MGV PROJECTS has now. Two years later, 95.3% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
That fits the bankruptcy probability of MGV PROJECTS itself: 0.4% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 34,693 companies, not a prediction for MGV PROJECTS. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Filings with the National Bank (10)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 02-08-2026 | 2026-00372338 | |
| 31-12-2024 | micro format | 24-07-2025 | 2025-00305876 | |
| 31-12-2023 | micro format | 21-08-2024 | 2024-00354662 | |
| 31-12-2022 | micro format | 21-08-2023 | 2023-00341035 | |
| 31-12-2021 | micro format | 30-08-2022 | 2022-20379561 | |
| 31-12-2020 | micro format | 02-08-2021 | 2021-45300185 | |
| 31-12-2019 | micro format | 30-11-2020 | 2020-74200434 | |
| 31-12-2018 | micro format | 10-07-2019 | 2019-31000377 | |
| 31-12-2017 | micro format | 03-07-2018 | 2018-29500336 | |
| 31-12-2016 | abbreviated format | 28-06-2017 | 2017-23300521 |
Board & ownership
Directors
Owners and capital
Capital transactions
- 24-08-2023 Converted to unavailable equity · €8,060
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Gregory VERFAILLIE |
|
Articles of association
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “Algemene kosten, los van representatie-, reis- en verplaatsingskosten, algemene vergadering met absolute meerderheid of enige aandeelhouder…”
Articles of association, deed of 24-08-2023 (in Dutch)
Network & group
MGV PROJECTS shares no director with another company.
Connections & network
1 current directorThe network starts from the directors of MGV PROJECTS. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
26-09
Gazette deed
Registered office moved from Langemark-Poelkapelle to IeperDirector in office3 points ▸
- General meeting, 01-08-2024
- Registered-office move, Augustijnenstraat 27 bus 1A te 8900 Ieper
- Director in office, Gregory Verfaillie (director)
24-08
Gazette deed
Resignation: Gregory VERFAILLIE (director)Reappointment: Gregory VERFAILLIE (director) · Capital conversion · Reserve release12 points ▸
- Other provision, “aanpassing statuten aan WVV en behoud rechtsvorm, statuten aanpassen en rechtsvorm behouden” (deed in Dutch)
- Capital conversion, “statutair onbeschikbare eigen vermogensrekening” (deed in Dutch)
- Reserve release, “opheffing statutair onbeschikbare eigen vermogensrekening, op heffen en middelen beschikbaar maken voor uitkering” (deed in Dutch)
- Amendment of the articles
- Share issue, 186, “inbrengen” (deed in Dutch)
- Power of attorney, Ellen VANSLAMBROUCK
- Director resignation, Gregory VERFAILLIE (director)
- Director reappointment, Gregory VERFAILLIE (director (not named in the articles))
- Director discharge, Gregory VERFAILLIE
- Registered office clause, “8920 Langemark-Poelkapelle, Houthulstseweg 130C, ZESDE BESLUIT” (deed in Dutch)
- Power of attorney
- General meeting, “met eenparigheid van stemmen, buitengewone algemene vergadering der aandeelhouders” (deed in Dutch)
Show earlier events
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
Invoicing and payment
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0643.497.802
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 33303E0244/00Z004 | Flanders | 466 m² | 1 · 163 m² | 8.7 m · 1 |