MH CONSTRUCT
ActiveSummary
MH CONSTRUCT has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €79,695 and a net result of €1,883. Equity is growing by ~6.6% per year across the filed fiscal years. Its solvency ranks better than 54% of 27965 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability37▼-9
Solvency76▲+3
Growth55▼-7
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4,000 at 30 days acceptable
Liquidity ample (current ratio 2.0 against 1.89 in 2024; short-term debt: 48.9% and cash: 1% of total assets), and 48.9% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 · 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
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
51.1%
Return on assets
1.2%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 12-06-2026, 49 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
49 d early
2024
42 d early
2023
56 d early
2022
52 d early
2021
51 d early
2020
53 d early
2019
32 d early
← before the deadline
after the deadline →
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
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
€319,700▼ 24.7%
2024 · €424,614
EBIT margin
2.6%▲ 0.2pp
2024 · 2.4%
Net result
€1,883▼ 63.4%
2024 · €5,144
Working capital
€76,604▲ 0.4%
2024 · €76,325
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€223,361▲ 57.5%€432,618▲ 93.7%€344,187▼ 20.4%€424,614▲ 23.4%€319,700▼ 24.7%
Operating result€18,345€18,100▼ 1.3%€7,043▼ 61.1%€10,210▲ 45.0%€8,185▼ 19.8%
Net result€15,646€11,479▼ 26.6%€2,947▼ 74.3%€5,144▲ 74.5%€1,883▼ 63.4%
EBIT margin8.2%▲ 15.5pp4.2%▼ 4.0pp2.0%▼ 2.1pp2.4%▲ 0.4pp2.6%▲ 0.2pp
Equity€58,243▲ 36.7%€69,721▲ 19.7%€72,669▲ 4.2%€77,812▲ 7.1%€79,695▲ 2.4%
Total assets€105,177▲ 62.9%€157,295▲ 49.6%€139,705▼ 11.2%€163,291▲ 16.9%€155,918▼ 4.5%
Debt€46,934▲ 114%€87,573▲ 86.6%€67,036▼ 23.5%€85,479▲ 27.5%€76,223▼ 10.8%
Working capital€54,442▲ 32.6%€64,371▲ 18.2%€69,392▲ 7.8%€76,325▲ 10.0%€76,604▲ 0.4%
Staff (FTE)0.31▲ 233%1=
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 20% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €155,918
Fixed assets
€3,091 ▲ 108%
Current assets
€152,827 ▼ 5.5%
Equity and liabilities €155,918
Equity
€79,695 ▲ 2.4%
Debt
€76,223 ▼ 10.8%
Debt's share of the balance-sheet total falls from 52.3% to 48.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€9,772▼
2024 · €12,000
Cash flow
€3,469▼
2024 · €6,933
Current ratio
2.00▲
2024 · 1.89
Debt to equity
0.96▼
2024 · 1.10
ROE
2.4%▼
2024 · 6.6%
ROA
1.2%▼
2024 · 3.1%
Interest coverage
2.25▼
2024 · 3.74
Debt ≤ 1 year
€76,223▼
2024 · €85,479
Income taxes
€1,961▲
2024 · €1,861
Staff costs
€17,763▼
2024 · €40,118
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €223,361 | €432,618 | €344,187 | €424,614 | €319,700 | ▼ 24.7% |
| Goods, raw materials, services and sundry goods60/61 | €209,464 | €415,035 | €327,855 | €379,828 | €287,745 | ▼ 24.2% |
| Remuneration, social security and pensions62 | - | - | €10,878 | €40,118 | €17,763 | ▼ 55.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €645 | €1,788 | €2,074 | €1,790 | €1,586 | ▼ 11.4% |
| Other operating charges640/8 | €314 | €2,320 | €720 | €760 | €7,402 | ▲ 874% |
| Gross operating margin9900 | €19,305 | €22,209 | €20,715 | €52,878 | €34,937 | ▼ 33.9% |
| Operating profit (loss)9901 | €18,345 | €18,100 | €7,043 | €10,210 | €8,185 | ▼ 19.8% |
| Financial income75/76B | €9 | €1 | €22 | €0 | €0 | ▲ 250% |
| Recurring financial income75 | €9 | €1 | €22 | €0 | €0 | ▲ 250% |
| Financial charges65/66B | €1,686 | €1,926 | €2,382 | €3,205 | €4,342 | ▲ 35.5% |
| Recurring financial charges65 | €1,686 | €1,926 | €2,382 | €3,205 | €4,342 | ▲ 35.5% |
| Profit (loss) for the period before taxes9903 | €16,668 | €16,175 | €4,683 | €7,005 | €3,844 | ▼ 45.1% |
| Income taxes67/77 | €1,023 | €4,696 | €1,736 | €1,861 | €1,961 | ▲ 5.4% |
| Profit (loss) for the period9904 | €15,646 | €11,479 | €2,947 | €5,144 | €1,883 | ▼ 63.4% |
| Profit (loss) for the period to be appropriated9905 | €15,646 | €11,479 | €2,947 | €5,144 | €1,883 | ▼ 63.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €105,177 | €157,295 | €139,705 | €163,291 | €155,918 | ▼ 4.5% |
| Formation expenses20 | €0 | €0 | €0 | €0 | €0 | - |
| Fixed assets21/28 | €4,401 | €5,351 | €3,277 | €1,487 | €3,091 | ▲ 108% |
| Tangible fixed assets22/27 | €4,326 | €5,276 | €3,202 | €1,412 | €3,016 | ▲ 114% |
| Plant, machinery and equipment23 | €0 | €0 | €0 | €0 | €0 | - |
| Furniture and vehicles24 | €4,326 | €5,276 | €3,202 | €1,412 | €3,016 | ▲ 114% |
| Financial fixed assets28 | €75 | €75 | €75 | €75 | €75 | = |
| Current assets29/58 | €100,776 | €151,944 | €136,428 | €161,804 | €152,827 | ▼ 5.5% |
| Amounts receivable within one year40/41 | €94,736 | €148,098 | €134,913 | €157,460 | €150,730 | ▼ 4.3% |
| Trade receivables40 | €31,763 | €73,307 | €110,117 | €140,310 | €148,794 | ▲ 6.0% |
| Other amounts receivable41 | €62,973 | €74,791 | €24,796 | €17,150 | €1,936 | ▼ 88.7% |
| Cash at bank and in hand54/58 | €5,878 | €3,672 | €226 | €4,174 | €1,547 | ▼ 62.9% |
| Deferred charges and accrued income490/1 | €163 | €174 | €1,290 | €171 | €550 | ▲ 223% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €105,177 | €157,295 | €139,705 | €163,291 | €155,918 | ▼ 4.5% |
| Equity10/15 | €58,243 | €69,721 | €72,669 | €77,812 | €79,695 | ▲ 2.4% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €0 | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €0 | - | - | - |
| Distributable reserves133 | - | - | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €50,183 | €61,661 | €64,609 | €69,752 | €71,635 | ▲ 2.7% |
| Amounts payable17/49 | €46,934 | €87,573 | €67,036 | €85,479 | €76,223 | ▼ 10.8% |
| Amounts payable within one year42/48 | €46,334 | €87,573 | €67,036 | €85,479 | €76,223 | ▼ 10.8% |
| Financial debts43 | €6,513 | €9,998 | €3,411 | €10,332 | €0 | ▼ 100% |
| Credit institutions430/8 | €6,513 | €9,998 | €3,411 | €10,332 | €0 | ▼ 100% |
| Trade debts44 | €19,286 | €48,383 | €51,525 | €71,985 | €30,756 | ▼ 57.3% |
| Suppliers440/4 | €19,286 | €48,383 | €51,525 | €71,985 | €30,756 | ▼ 57.3% |
| Advances received on contracts in progress46 | €19,113 | €19,113 | €0 | - | - | - |
| Taxes, remuneration and social security45 | €1,423 | €10,079 | €12,100 | €1,861 | €10,879 | ▲ 484% |
| Taxes450/3 | €1,023 | €5,719 | €7,100 | €1,861 | €7,083 | ▲ 281% |
| Remuneration and social security454/9 | €400 | €4,360 | €5,000 | €0 | €3,796 | - |
| Other amounts payable47/48 | - | - | €0 | €1,300 | €34,588 | ▲ 2,561% |
| Accrued charges and deferred income492/3 | €600 | €0 | - | €0 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €15,646 | €11,479 | €2,947 | €5,144 | €1,883 | ▼ 63.4% |
| + Depreciation and write-downs630 | €645 | €1,788 | €2,074 | €1,790 | €1,586 | ▼ 11.4% |
| Operating cash flow (approximation) | €16,291 | €13,267 | €5,021 | €6,933 | €3,469 | ▼ 50.0% |
| Investment in fixed assets (approximation) | - | -€2,738 | €0 | €0 | -€3,190 | - |
| Change in cash | - | -€2,206 | -€3,446 | €3,948 | -€2,628 | ▼ 167% |
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
12-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
19-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
05-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
09-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
10-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €15,646
Net result €15,646 after 2 loss-making years.
08-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Weakest financial yearnet -€10,728
Net result drops to -€10,728, the lowest in the series; recovery starts the following year.
29-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
08-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 31 days late
2017
06-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Charleroi · 1 establishment unit since 2010
Ground area
1,126 m²
Parcel 52393B0180/00R000, Wallonia. Linked by address, not a title deed.
1 establishment unit
Pige Magrite 49, 6001 Charleroi
since 20102.197.836.886
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 52393B0180/00R000 | Wallonia | 1,126 m² | - | - |
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 15,521 companies in sector 43990 we hold annual accounts for 7,416. 6,231 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
Founded17-12-2010
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
43990Other specialised construction activities
Scores and ratios are computed by Checked and are not a credit decision.