Staff
In 2025, 1 person joined and nobody left.
In 2025, 1 person joined and nobody left.
MH CONSTRUCT pays its suppliers 30 days earlier than in 2024. Customers pay 49 days later.
The 2017 accounts came 31 days late. The other nine of the last ten were filed on time.
The dashed line is the sector median: 0.7% across 47,696 companies (NACE 43, micro).
About 6 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 43, micro). It does better than 56% of them on solvency, 16% on liquidity, 18% on profitability and 30% on growth.
The bankruptcy probability was computed on 10-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
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).
In July 2024, 10,904 companies had the same profile as MH CONSTRUCT has now. Each dot stands for 28 companies, two years later.
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of MH CONSTRUCT itself: 0.6% within 12 months.
The method was tested on the 497,447 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 10,904 companies, not a prediction for MH CONSTRUCT. 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.
Liquidity is ample, with a current ratio of 2.0 (1.89 in 2024), above the usual 1.5. Short-term debt is 48.9% and cash 1% of total assets. 48.9% of the assets are financed with debt and provisions.
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.
The company filed its last 7 accounts on average 48 days before the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| MH CONSTRUCT Charleroi | €155,918 | €34,937 | 51.1% | - |
| D. MF Mons | €152,266 | €43,864 | -45.2% | - |
| ELMAR BOUWGROEP Antwerp | €160,157 | €33,650 | 72.2% | - |
| LEXARIX Erpe-Mere | €161,825 | €36,980 | 66.3% | - |
| ROMY CONSTRUCT Tubize | €147,568 | €35,798 | 35.4% | - |
| TECOLUX Molenbeek-Saint-Jean | €151,629 | €38,070 | 88.8% | - |
| COUSIN JUAN Ottignies-Louvain-la-Neuve | €148,875 | €38,920 | 75.1% | - |
These companies have the same main activity as MH CONSTRUCT: other specialised construction activities (NACE 43990). They are comparable in size and age: total assets between €148,000 and €162,000, founded between 2010 and 2011.
MH CONSTRUCT has existed since 2010. In 2012 turnover rose from €166,597 to €475,927 and staff from 0.6 to 1 full-time equivalents.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Higher than 55% of 35,136 companies in 2025.
Higher than 55% of 34,510 companies in 2025.
Higher than 29% of 34,711 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: middle half · Working capital: middle half
Staff costs divided by the average number of full-time equivalents.
In 2025, 1 person joined and nobody left.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||||||
20/58 |
155,918 | 163,291 | 139,705 | 157,295 | 105,177 | 64,551 | 74,950 | 83,010 | 81,856 | 69,548 | 33,213 | 32,229 | 41,600 | 113,509 | 83,771 | |
20 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 30 | 203 | 375 | 548 | 720 | |
21/28 |
3,091 | 1,487 | 3,277 | 5,351 | 4,401 | 1,537 | 471 | 866 | 75 | 75 | 105 | 7,849 | 18,919 | 29,695 | 41,191 | |
22/27 |
3,016 | 1,412 | 3,202 | 5,276 | 4,326 | 1,462 | 396 | 791 | 0 | 0 | 0 | 7,646 | 18,544 | 29,147 | 40,471 | |
23 |
0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 513 | 1,515 | 2,183 | 2,350 | |
24 |
3,016 | 1,412 | 3,202 | 5,276 | 4,326 | 1,462 | 396 | 791 | 0 | 0 | 0 | 7,133 | 17,029 | 26,964 | 38,121 | |
28 |
75 | 75 | 75 | 75 | 75 | 75 | 75 | 75 | 75 | 75 | 75 | - | - | - | - | |
29/58 |
152,827 | 161,804 | 136,428 | 151,944 | 100,776 | 63,014 | 74,480 | 82,144 | 81,781 | 69,473 | 33,108 | 24,380 | 22,680 | 83,815 | 42,579 | |
3 |
- | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 8,000 | |
37 |
- | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 8,000 | |
40/41 |
150,730 | 157,460 | 134,913 | 148,098 | 94,736 | 60,023 | 68,890 | 62,333 | 72,598 | 66,949 | 31,058 | 20,518 | 15,299 | 67,847 | 16,891 | |
40 |
148,794 | 140,310 | 110,117 | 73,307 | 31,763 | 10,440 | 5,735 | - | 18,989 | 15,815 | 4,275 | 8,576 | 1,378 | 61,912 | 3,712 | |
41 |
1,936 | 17,150 | 24,796 | 74,791 | 62,973 | 49,582 | 63,155 | 62,333 | 53,609 | 51,134 | 26,783 | 11,943 | 13,921 | 5,935 | 13,179 | |
54/58 |
1,547 | 4,174 | 226 | 3,672 | 5,878 | 2,822 | 5,590 | 19,811 | 9,183 | 2,524 | 2,040 | 2,683 | 6,923 | 12,512 | 17,399 | |
490/1 |
550 | 171 | 1,290 | 174 | 163 | 169 | - | - | - | 0 | 11 | 1,179 | 458 | 3,456 | 289 | |
| Balance sheet: equity and liabilities | ||||||||||||||||
10/49 |
155,918 | 163,291 | 139,705 | 157,295 | 105,177 | 64,551 | 74,950 | 83,010 | 81,856 | 69,548 | 33,213 | 32,229 | 41,600 | 113,509 | 83,771 | |
10/15 |
79,695 | 77,812 | 72,669 | 69,721 | 58,243 | 42,597 | 53,325 | 54,883 | 40,800 | 32,855 | 6,183 | -18,187 | -31,204 | 31,000 | 26,905 | |
10/11 |
6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | |
100 |
- | - | - | - | - | 0 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | - | 0 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | |
11 |
- | - | - | - | - | 6,200 | - | - | - | - | - | - | - | - | - | |
1100/10 |
- | - | - | - | - | 6,200 | - | - | - | - | - | - | - | - | - | |
13 |
1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | |
130/1 |
- | - | 0 | 1,860 | 1,860 | 1,860 | - | - | - | - | - | - | - | - | - | |
130 |
- | - | - | - | - | 0 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | |
1311 |
- | - | 0 | 1,860 | 1,860 | 1,860 | - | - | - | - | - | - | - | - | - | |
133 |
1,860 | 1,860 | 1,860 | - | - | - | - | - | - | - | - | - | - | - | - | |
14 |
71,635 | 69,752 | 64,609 | 61,661 | 50,183 | 34,537 | 45,265 | 46,823 | 32,740 | 24,795 | -1,877 | -26,247 | -39,264 | 22,940 | 18,845 | |
17/49 |
76,223 | 85,479 | 67,036 | 87,573 | 46,934 | 21,954 | 21,626 | 28,127 | 41,056 | 36,692 | 27,030 | 50,415 | 72,804 | 82,510 | 56,866 | |
17 |
- | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | 2,551 | |
170/4 |
- | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | 2,551 | |
42/48 |
76,223 | 85,479 | 67,036 | 87,573 | 46,334 | 21,954 | 21,626 | 28,127 | 41,056 | 36,692 | 27,030 | 50,415 | 72,804 | 82,510 | 54,315 | |
42 |
- | - | - | - | - | - | - | - | - | - | - | 0 | 5,916 | 2,551 | 2,449 | |
43 |
0 | 10,332 | 3,411 | 9,998 | 6,513 | 9,724 | 11,010 | 12,479 | 9,986 | 7,420 | 9,993 | 9,986 | 10,000 | 5,186 | - | |
430/8 |
0 | 10,332 | 3,411 | 9,998 | 6,513 | 9,724 | 11,010 | 12,479 | 9,986 | 7,420 | 9,993 | 9,986 | 10,000 | 5,186 | - | |
44 |
30,756 | 71,985 | 51,525 | 48,383 | 19,286 | 9,808 | 3,157 | 5,456 | 5,576 | 10,445 | 13,758 | 22,817 | 45,990 | 69,370 | 26,537 | |
440/4 |
30,756 | 71,985 | 51,525 | 48,383 | 19,286 | 9,808 | 3,157 | 5,456 | 5,576 | 10,445 | 13,758 | 22,817 | 45,990 | 69,370 | 26,537 | |
46 |
- | - | 0 | 19,113 | 19,113 | - | - | - | - | 0 | 694 | 1,768 | - | 0 | 1,721 | |
45 |
10,879 | 1,861 | 12,100 | 10,079 | 1,423 | 2,422 | 7,459 | 10,132 | 10,493 | 3,827 | 2,585 | 11,707 | 10,898 | 5,246 | 12,597 | |
450/3 |
7,083 | 1,861 | 7,100 | 5,719 | 1,023 | 22 | 6,659 | 9,332 | 6,243 | 1,427 | 1,138 | 11,707 | 466 | 60 | 7,780 | |
454/9 |
3,796 | 0 | 5,000 | 4,360 | 400 | 2,400 | 800 | 800 | 4,250 | 2,400 | 1,447 | 0 | 10,432 | 5,186 | 4,818 | |
47/48 |
34,588 | 1,300 | 0 | - | - | - | - | 60 | 15,000 | 15,000 | 0 | 4,137 | 0 | 157 | 11,011 | |
492/3 |
- | 0 | - | 0 | 600 | - | - | - | - | - | - | - | - | - | - | |
| Income statement | ||||||||||||||||
70 |
319,700 | 424,614 | 344,187 | 432,618 | 223,361 | 141,842 | 148,041 | 190,505 | 261,960 | 253,501 | 203,546 | 169,702 | 421,336 | 475,927 | 166,597 | |
76A |
- | - | - | - | - | - | - | - | - | - | 3,150 | - | - | 5,476 | - | |
9900 |
34,937 | 52,878 | 20,715 | 22,209 | 19,305 | -9,247 | 9,441 | 25,918 | 39,310 | 50,787 | 28,143 | 52,268 | 17,891 | 77,980 | 60,373 | |
60/61 |
287,745 | 379,828 | 327,855 | 415,035 | 209,464 | 151,390 | 143,617 | 171,441 | 229,678 | 208,596 | 175,402 | 117,434 | 403,445 | 397,947 | 119,455 | |
62 |
17,763 | 40,118 | 10,878 | - | - | - | - | - | - | 906 | 121 | 18,080 | 64,098 | 63,613 | 19,191 | |
630 |
1,586 | 1,790 | 2,074 | 1,788 | 645 | 107 | 395 | 395 | - | 30 | 969 | 11,070 | 11,566 | 11,303 | 2,881 | |
631/4 |
- | - | - | - | - | - | - | - | 4,175 | - | - | - | - | - | - | |
640/8 |
7,402 | 760 | 720 | 2,320 | 314 | 924 | 789 | 28 | 859 | 11 | 958 | 964 | 1,552 | 1,364 | 289 | |
66A |
- | - | - | - | - | - | 7,500 | - | - | - | - | 161 | - | - | - | |
9901 |
8,185 | 10,210 | 7,043 | 18,100 | 18,345 | -10,278 | 756 | 25,495 | 34,276 | 49,840 | 26,095 | 22,154 | -59,325 | 1,701 | 38,013 | |
75/76B |
0 | 0 | 22 | 1 | 9 | 0 | 2 | 0 | 3 | 1 | 2 | - | 12 | 222 | 101 | |
75 |
0 | 0 | 22 | 1 | 9 | 0 | 2 | 0 | 3 | 1 | 2 | - | 12 | 222 | 101 | |
65/66B |
4,342 | 3,205 | 2,382 | 1,926 | 1,686 | 2,333 | 2,317 | 2,296 | 1,489 | 6,771 | 4,878 | 8,975 | 2,608 | 1,870 | 228 | |
65 |
4,342 | 3,205 | 2,382 | 1,926 | 1,686 | 2,333 | 2,317 | 2,296 | 1,489 | 6,771 | 4,878 | 8,975 | 2,608 | 1,870 | 228 | |
9903 |
3,844 | 7,005 | 4,683 | 16,175 | 16,668 | -12,610 | -1,558 | 23,199 | 32,790 | 43,070 | 24,369 | 13,018 | -61,922 | 5,529 | 37,885 | |
67/77 |
1,961 | 1,861 | 1,736 | 4,696 | 1,023 | -1,883 | - | 4,116 | 4,846 | 1,397 | - | 0 | 282 | 1,434 | 7,180 | |
9904 |
1,883 | 5,144 | 2,947 | 11,479 | 15,646 | -10,728 | -1,558 | 19,083 | 27,944 | 41,673 | 24,369 | 13,018 | -62,204 | 4,095 | 30,705 | |
9905 |
1,883 | 5,144 | 2,947 | 11,479 | 15,646 | -10,728 | -1,558 | 19,083 | 27,944 | 41,673 | 24,369 | 13,018 | -62,204 | 4,095 | 30,705 | |
| Appropriation of the result | ||||||||||||||||
9906 |
71,635 | 69,752 | 64,609 | 61,661 | 50,183 | 34,537 | 45,265 | 51,823 | 52,740 | 39,795 | -1,877 | -26,247 | -39,264 | 22,940 | 30,705 | |
14P |
69,752 | 64,609 | 61,661 | 50,183 | 34,537 | - | - | - | - | - | - | - | - | - | - | |
691/2 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 1,860 | |
6920 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 1,860 | |
694/7 |
- | - | - | - | - | - | - | 5,000 | 20,000 | 15,000 | - | - | - | - | 10,000 | |
695 |
- | - | - | - | - | - | - | 5,000 | 20,000 | 15,000 | - | - | - | - | 10,000 | |
| Social balance sheet | ||||||||||||||||
9087 |
1 | 1 | 0.3 | - | - | - | - | - | - | - | - | 0 | 1 | 1 | 0.6 | |
Hours worked1013 |
318 | 1,726 | 584 | - | - | - | - | - | - | - | - | - | 1,338 | 2,488 | 676 | |
| Document | ||||||||||||||||
The notes to these accounts have 6 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 12-06-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 12-06-2026 | 2026-00157183 | |
| 31-12-2024 | micro format | 19-06-2025 | 2025-00182954 | |
| 31-12-2023 | micro format | 05-06-2024 | 2024-00115445 | |
| 31-12-2022 | micro format | 09-06-2023 | 2023-00116528 | |
| 31-12-2021 | micro format | 10-06-2022 | 2022-20064350 | |
| 31-12-2020 | micro format | 08-06-2021 | 2021-18600054 | |
| 31-12-2019 | micro format | 29-06-2020 | 2020-25200348 | |
| 31-12-2018 | full format | 08-07-2019 | 2019-30300360 | |
| 31-12-2017 | full format | 31-08-2018 | 2018-57000055 | |
| 31-12-2016 | full format | 06-06-2017 | 2017-15300245 | |
| 31-12-2015 | full format | 22-08-2016 | 2016-48300067 | |
| 31-12-2014 | full format | 16-09-2015 | 2015-59200111 | |
| 31-12-2013 | full format | 10-12-2014 | 2014-69100100 | |
| 31-12-2012 | full format | 18-09-2013 | 2013-58900041 | |
| 31-12-2011 | full format | 11-07-2012 | 2012-28600008 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 9,772 | 12,000 | 9,117 | 19,888 | 18,991 | -10,171 | 1,152 | 25,890 | - | 49,870 | 27,065 | 33,224 | -47,759 | 13,004 | 40,894 | ||
| 3,469 | 6,933 | 5,021 | 13,267 | 16,291 | -10,621 | -1,163 | 19,479 | - | 41,703 | 25,338 | 24,088 | -50,638 | 15,398 | 33,586 | ||
| 3,190 | 0 | 0 | 2,738 | 3,509 | 1,173 | 0 | 1,186 | - | 0 | 75 | 0 | 791 | 3,973 | 43,172 | ||
| -2,628 | 3,948 | -3,446 | -2,206 | 3,055 | -2,767 | -14,221 | 10,628 | 6,659 | 484 | -643 | -4,241 | -5,589 | -4,887 | - | ||
| 76,604 | 76,325 | 69,392 | 64,371 | 54,442 | 41,060 | 52,854 | 54,017 | 40,725 | 32,780 | 6,078 | -26,036 | -50,124 | 1,305 | -11,736 | ||
| 2.6% | 2.4% | 2.0% | 4.2% | 8.2% | -7.2% | 0.5% | 13.4% | 13.1% | 19.7% | 12.8% | 13.1% | -14.1% | 0.4% | 22.8% | ||
| 51.1% | 47.7% | 52.0% | 44.3% | 55.4% | 66.0% | 71.1% | 66.1% | 49.8% | 47.2% | 18.6% | -56.4% | -75.0% | 27.3% | 32.1% | ||
| 2.00 | 1.89 | 2.04 | 1.74 | 2.17 | 2.87 | 3.44 | 2.92 | 1.99 | 1.89 | 1.22 | 0.48 | 0.31 | 1.02 | 0.78 | ||
| 2.00 | 1.89 | 2.04 | 1.74 | 2.17 | 2.87 | 3.44 | 2.92 | 1.99 | 1.89 | 1.22 | 0.48 | 0.31 | 1.02 | 0.64 | ||
| 0.96 | 1.10 | 0.92 | 1.26 | 0.81 | 0.52 | 0.41 | 0.51 | 1.01 | 1.12 | 4.37 | - | - | 2.66 | 2.11 | ||
| 2.4% | 6.6% | 4.1% | 16.5% | 26.9% | -25.2% | -2.9% | 34.8% | 68.5% | 126.8% | 394.2% | - | - | 13.2% | 114.1% | ||
| 1.2% | 3.1% | 2.1% | 7.3% | 14.9% | -16.6% | -2.1% | 23.0% | 34.1% | 59.9% | 73.4% | 40.4% | -149.5% | 3.6% | 36.7% | ||
| 2.25 | 3.74 | 3.83 | 10.32 | 11.26 | - | - | - | - | - | - | - | - | - | - | ||
| 170 days | 121 days | 117 days | 62 days | 52 days | 27 days | 14 days | 119 days | 26 days | 23 days | 8 days | 18 days | 1 day | 47 days | 8 days | ||
| 39 days | 69 days | 57 days | 43 days | 34 days | 24 days | 8 days | 12 days | 9 days | 18 days | 29 days | 71 days | 42 days | 64 days | 81 days |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 31-12-2025 | 31-12-2024 | 31-12-2023 |
|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | 1 |
| full-time | 1 | 1 | 1 |
| part-time | 0 | - | 0 |
| in full-time equivalents | 1 | 1 | 1 |
| 1 | 1 | 0.3 | |
| On a permanent contract | 1 | 1 | 1 |
| Joined | 1 | - | 1 |
| Left | 0 | - | 0 |
Source: social balance sheet in the 2023 to 2025 annual accounts
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €3,190 | - | - | €2,738 | €3,509 |
| €1,586 | €1,790 | €2,074 | €1,788 | €645 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 20% lower than in 2024.
Debt's share of the balance-sheet total falls from 52.3% to 48.9%. Equity is higher and debt is lower.
MH CONSTRUCT has no parent and no holdings in its annual accounts. Chorney Serhyi is the only director. MH CONSTRUCT shares no director with another company.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Pige Magrite 49 registered office 6001 Charleroi 41001 General construction of residential buildings | 17-12-2010 | 2.197.836.886 |
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 0831.993.942
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