Losses
Every financial year from 2023 to 2025 closed with a loss. 2024 was the heaviest.
Every financial year from 2023 to 2025 closed with a loss. 2024 was the heaviest.
The 2019 accounts came latest: 117 days after the end of the period.
Lower net result than 90% of companies in specialised construction. Sector median €10,184 · 35,124 companies.
A net loss of at least half of total assets or of the equity at the start of the financial year caps the score at 59.
The dashed line is the sector median: 0.7% across 47,693 companies (NACE 43, micro).
About 2 in 100 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 90% of them on solvency, 70% on liquidity, 4% on profitability and 11% on growth.
The bankruptcy probability was computed on 09-11-2026 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 moderate class on 30-06-2025, 2.4% 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, 3,591 companies had the same profile as MID CONSTRUCT has now. Each dot stands for 9 companies, two years later.
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of MID CONSTRUCT itself: 1.6% 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 3,591 companies, not a prediction for MID 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.
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity is ample, with a current ratio of 22.77 (22.01 in 2024), above the usual 1.5. Short-term debt is 4.4% and cash 17.2% of total assets. 4.4% 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 26 days after 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 | ||||
|---|---|---|---|---|
| MID CONSTRUCT Asse | €19,550 | -€11,887 | 95.6% | - |
| BUDRENCOM Halle | €18,209 | -€10,898 | -457.8% | - |
| MT-Invest Middelkerke | €18,760 | -€4,417 | 98.2% | - |
| MANIREX Schaerbeek | €16,084 | -€3,107 | 89.1% | - |
| ABPRO Uccle | €24,185 | -€27,198 | -16.7% | - |
| BALTA STONE Zaventem | €13,845 | -€3,206 | 14.9% | - |
| TRADITION SAS Wezembeek-Oppem | €18,409 | -€10,757 | -68.3% | - |
These companies have the same main activity as MID CONSTRUCT: other specialised construction activities (NACE 43990). They are comparable in size and age: total assets between €13,800 and €24,200, founded between 2014 and 2019.
MID CONSTRUCT files the micro format. That format states no turnover. The gross margin fell from €6,552 in 2018 to -€11,887 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Amounts without an identifiable currency are taken as euros.
Higher than 95% of 35,136 companies in 2025.
Higher than 95% of 34,510 companies in 2025.
Lower than 95% of 34,711 companies in 2025.
Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: bottom quarter · Working capital: middle half
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||
20/58 |
19,550 | 32,678 | 65,456 | 56,318 | 14,396 | 22,487 | 15,747 | 13,030 | |
21/28 |
- | - | - | 911 | - | - | - | - | |
22/27 |
- | - | - | 911 | - | - | - | - | |
25 |
- | - | - | 911 | - | - | - | - | |
29/58 |
19,550 | 32,678 | 65,456 | 55,407 | 14,396 | 22,487 | 15,747 | 13,030 | |
40/41 |
15,995 | 25,487 | 41,462 | 7,262 | 6,443 | 8,547 | 7,104 | 10,419 | |
40 |
20 | 18,712 | 33,543 | - | 5,223 | 6,825 | 6,075 | 8,642 | |
41 |
15,975 | 6,775 | 7,919 | 7,262 | 1,220 | 1,722 | 1,029 | 1,777 | |
54/58 |
3,364 | 6,812 | 23,994 | 48,145 | 7,953 | 13,941 | 8,644 | 2,611 | |
490/1 |
191 | 379 | - | - | - | - | - | - | |
| Balance sheet: equity and liabilities | |||||||||
10/49 |
19,550 | 32,678 | 65,456 | 56,318 | 14,396 | 22,487 | 15,747 | 13,030 | |
10/15 |
18,691 | 31,193 | 44,430 | 45,268 | 11,429 | 4,402 | 11,651 | 10,516 | |
10/11 |
6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | |
10 |
- | 6,200 | 6,200 | 6,200 | 6,200 | - | - | - | |
100 |
- | 18,650 | 18,650 | 18,650 | 18,650 | 18,650 | 18,650 | 18,650 | |
101 |
- | 12,450 | 12,450 | 12,450 | 12,450 | 12,450 | 12,450 | 12,450 | |
13 |
1,865 | 1,865 | 1,865 | 1,865 | 1,865 | 1,865 | 1,865 | 1,865 | |
130/1 |
1,865 | 1,865 | 1,865 | 1,865 | 1,865 | 1,865 | - | - | |
130 |
- | 1,865 | 1,865 | 1,865 | 1,865 | 1,865 | 1,865 | 1,865 | |
1311 |
1,865 | - | - | - | - | - | - | - | |
14 |
10,626 | 23,128 | 36,365 | 37,203 | 3,364 | -3,663 | 3,586 | 2,451 | |
17/49 |
859 | 1,485 | 21,026 | 11,050 | 2,967 | 18,086 | 4,096 | 2,514 | |
42/48 |
859 | 1,485 | 21,026 | 11,050 | 2,967 | 18,086 | 4,096 | 2,514 | |
44 |
859 | 1,469 | 21,026 | 40 | 392 | 979 | 1,555 | 1,312 | |
440/4 |
859 | 1,469 | 21,026 | 40 | 392 | 979 | 1,555 | 1,312 | |
45 |
0 | 16 | - | 11,011 | 593 | - | 2,542 | 1,202 | |
450/3 |
- | - | - | 11,011 | 593 | - | 2,542 | 1,202 | |
454/9 |
0 | 16 | - | - | - | - | - | - | |
47/48 |
- | - | - | - | 1,982 | 17,107 | - | - | |
| Income statement | |||||||||
70 |
- | 113,058 | 186,165 | 182,470 | 90,037 | - | 80,523 | 54,898 | |
76A |
- | - | - | - | - | 2,000 | - | - | |
9900 |
-11,887 | -7,430 | 5,284 | 54,244 | 10,775 | -3,195 | 2,244 | 6,552 | |
60/61 |
- | 120,489 | 180,881 | 128,226 | 79,263 | - | 78,279 | 48,346 | |
62 |
0 | - | - | - | - | - | - | - | |
630 |
- | - | 911 | 911 | - | - | - | - | |
640/8 |
757 | 930 | 3,386 | 588 | 496 | 645 | 515 | 353 | |
9901 |
-12,644 | -8,361 | 987 | 52,745 | 10,278 | -3,840 | 1,728 | 6,199 | |
75/76B |
321 | - | 183 | 1 | 7 | 1 | 1,142 | - | |
75 |
321 | - | 183 | 1 | 7 | 1 | 1,142 | - | |
65/66B |
179 | 253 | 159 | 155 | 2,665 | 3,421 | 395 | 681 | |
65 |
179 | 253 | 159 | 155 | 2,665 | 3,421 | 395 | 681 | |
9903 |
-12,502 | -8,613 | 1,011 | 52,590 | 7,620 | -7,260 | 2,475 | 5,517 | |
67/77 |
0 | 4,623 | 1,848 | 18,752 | 593 | -11 | 1,340 | 1,202 | |
9904 |
-12,502 | -13,237 | -837 | 33,838 | 7,027 | -7,249 | 1,135 | 4,316 | |
9905 |
-12,502 | -13,237 | -837 | 33,838 | 7,027 | -7,249 | 1,135 | 4,316 | |
| Appropriation of the result | |||||||||
9906 |
10,626 | 23,128 | 36,365 | 37,203 | 3,364 | -3,663 | 3,586 | 4,316 | |
14P |
23,128 | 36,365 | 37,203 | 3,364 | -3,663 | - | - | - | |
691/2 |
- | - | - | - | - | - | - | 1,865 | |
6920 |
- | - | - | - | - | - | - | 1,865 | |
| Document | |||||||||
The notes to these accounts have 7 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 31-08-2026.
2025 annual accounts filed 31 days after the deadline. Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00462737.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 31-08-2026 | 2026-00462737 | |
| 31-12-2024 | micro format | 26-09-2025 | 2025-00507051 | |
| 31-12-2023 | micro format | 19-07-2024 | 2024-00266098 | |
| 31-12-2022 | micro format | 31-08-2023 | 2023-00391179 | |
| 31-12-2021 | micro format | 11-07-2022 | 2022-20167996 | |
| 31-12-2020 | micro format | 06-07-2021 | 2021-31500126 | |
| 31-12-2019 | micro format | 25-11-2020 | 2020-71900024 | |
| 31-12-2018 | micro format | 30-07-2019 | 2019-41000334 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| - | - | 1,898 | 53,656 | - | - | - | - | ||
| - | - | 74 | 34,749 | - | - | - | - | ||
| 0 | - | 0 | 1,822 | - | - | - | - | ||
| -3,448 | -17,182 | -24,151 | 40,192 | -5,988 | 5,297 | 6,032 | - | ||
| 18,691 | 31,193 | 44,430 | 44,357 | 11,429 | 4,402 | 11,651 | 10,516 | ||
| - | -7.4% | 0.5% | 28.9% | 11.4% | - | 2.1% | 11.3% | ||
| 95.6% | 95.5% | 67.9% | 80.4% | 79.4% | 19.6% | 74.0% | 80.7% | ||
| 22.77 | 22.01 | 3.11 | 5.01 | 4.85 | 1.24 | 3.84 | 5.18 | ||
| 0.05 | 0.05 | 0.47 | 0.24 | 0.26 | 4.11 | 0.35 | 0.24 | ||
| -66.9% | -42.4% | -1.9% | 74.8% | 61.5% | -164.7% | 9.7% | 41.0% | ||
| -63.9% | -40.5% | -1.3% | 60.1% | 48.8% | -32.2% | 7.2% | 33.1% | ||
| - | - | 11.91 | over 100 | - | - | - | - | ||
| - | 60 days | 66 days | 15 days | 21 days | - | 28 days | 57 days | ||
| - | 4 days | 42 days | 0 days | 2 days | - | 7 days | 10 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 | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | €0 | €1,822 | - |
| Financial fixed assets | €0 | - | - | - | - |
| - | - | €911 | €911 | - |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a loss of €12,644, larger than the loss of €8,361 in 2024. It is the lowest result since 2018.
Debt's share of the balance-sheet total falls from 4.5% to 4.4%. Equity and debt are lower.
MID CONSTRUCT has no parent and no holdings in its annual accounts. MID 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.
A deed published in both Dutch and French appears here once.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Heilig Hartlaan 58 registered office 1730 Asse | ||
| Joseph Baecklaan 50 1080 Molenbeek-Saint-Jean 2511001 Manufacture of metal structures and parts of structures | 01-02-2018 | 2.278.605.125 |
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 23322B0567/00Y000 | Flanders | 596 m² | 1 · 84 m² | 10.3 m · 2 |
| 21523B0858/00D000 | Brussels | 408 m² | 1 · 169 m² | 18.8 m · 6 |
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 0689.674.651
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