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MIDRAS PROJECTS

Active
Private limited companyfounded 2000active for 26 yearsDendermondesteenweg 531, 9070 Destelbergen, BelgiumKBO/BCE: BE 0471.681.603
Summary

MIDRAS PROJECTS has been active since 2000 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €910,441 and a net result of €360,445, of which €1.3m non-recurring income. Equity has been growing by about 8.1% per year since 2018. Its solvency ranks better than 17% of 9,394 sector peers (NACE 41, financial year 2025). The computed 12-month bankruptcy probability is 1.0% (low).

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MIDRAS PROJECTSActiveChecked score 68/100
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Overview

Overview

Official details

Source: KBO
Status
Active since 13-04-2000 Normal situation
Activity
General construction of residential buildings NACE 41001and 1 other
Establishment unit
2.095.945.910 9070 Destelbergen, since 02-05-2002
Financial year end
31 December
Peppol
Reachable since 01-02-2026
Company details

Board and ownership

Board
Board & ownership

Financial position

68 Healthy Checked score 2025
Bankruptcy probabilitywithin 12 months
1.0%
Annual accounts 2025
Gross margin
€1.9m
▲ 325%
Turnover
≈ €3.6m
estimated
Profit
€360,445
Equity
€910,441
▲ 65.5%
Total assets
€12.5m
▲ 81.1%
  • 2025 accounts filed 21 days after the deadline
Filed on 21-08-2026
Financials
Score breakdownraises riskLiquidity: current ratio 0.07, cash €32,4291 change of registered office in 24 monthsSector: Construction of residential and non-residential buildings (NACE 41)lowers riskSize: total assets €12.5mShow the evidence

Checked score

Score 2025
68 / 100
Healthy
Probability in this band: 0.55% to 1.5%
Financially stronger than 68% of medium-sized companies in construction of buildings (NACE 41)
Every signal that counts is listed under Signals.
Financial strength · tick: 2024
Average
Solvency 32-1
equity 7.3% of total assets
Liquidity 50+12
short-term debt 9.3% · cash 0.3%
Profitability 72+28
return on assets 2.9%
Bankruptcy probability within 12 months
1.0% Low
0%0.5%1.5%4%10%≥ 25%

About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.3% (209 companies, NACE 41, medium-sized)
Last 24 months 12-2024: 0.7% 01-2025: 0.7%● unchanged vs 12-2024 02-2025: 0.7%● unchanged vs 01-2025 03-2025: 0.7%● unchanged vs 02-2025 04-2025: 0.7%● unchanged vs 03-2025 05-2025: 0.7%● unchanged vs 04-2025 06-2025: 0.8%▲ +0.1 percentage points vs 05-2025 07-2025: 0.9%▲ +0.1 percentage points vs 06-2025 08-2025: 0.4%▼ -0.5 percentage points vs 07-2025lowest value 09-2025: 0.4%● unchanged vs 08-2025lowest value 10-2025: 0.4%● unchanged vs 09-2025lowest value 11-2025: 0.4%● unchanged vs 10-2025lowest value 12-2025: 0.4%● unchanged vs 11-2025lowest value 01-2026: 0.4%● unchanged vs 12-2025lowest value 02-2026: 0.4%● unchanged vs 01-2026 03-2026: 0.4%● unchanged vs 02-2026 04-2026: 0.5%▲ +0.1 percentage points vs 03-2026 05-2026: 0.5%● unchanged vs 04-2026 06-2026: 0.5%● unchanged vs 05-2026 07-2026: 0.6%▲ +0.1 percentage points vs 06-2026 08-2026: 1.0%▲ +0.4 percentage points vs 07-2026 09-2026: 1.0%● unchanged vs 08-2026highest value 10-2026: 1.0%● unchanged vs 09-2026highest value 11-2026: 1.0%● unchanged vs 10-2026highest value
Credit of up to €60,000 on 30-day terms is acceptable
Liquidity is insufficient, with a current ratio of 0.07 (0.02 in 2024), below 1. Short-term debt is 9.3% and cash 0.3% of total assets. 92.7% of the assets are financed with debt and provisions.
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 41, medium-sized). It does better than 22% of them on solvency, 76% on liquidity, 81% on profitability and 95% on growth.

The bankruptcy probability was computed on 01-11-2026 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

Six signals.
lowers riskraises risk
raises risk · Liquidity: current ratio 0.07, cash €32,429
NBB · annual accounts
raises risk · 1 change of registered office in 24 months
Belgian Official Gazette
raises risk · Sector: Construction of residential and non-residential buildings (NACE 41)
KBO
lowers risk · Size: total assets €12.5m
Companies of this size fail less often. How much that weighs depends on the rest of the company's profile.
NBB · annual accounts
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 17% of 9394 sector peers (2025).
NBB · sector comparison
Position among 9394 sector peers
Solvency
better than 17%
← weakest strongest →
raises risk · 2025 accounts filed 21 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 21-08-2026, 21 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filings
Deviation from the deadline
2025
21 days late
2024
1 day early
2023
1 day early
2022
28 days late
2021
2 days early
2020
8 days early
2019
23 days early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

The company filed its last 7 accounts on average 2 days after the deadline. In the sector (NACE 41), the median for financial year 2024 was on the deadline day, and 46% of those companies filed late.

Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 31 July (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven months
Where today falls in the filing period
02-11-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
That holds for every publication since 2021.
KBO publications

Financials

Financials · financial year 2025, micro format

2025 annual accounts filed 21 days after the deadline Filed on 21 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00419890.

Annual accounts 2025 filed on 21-08-2026 at the NBB all 26 filings

Amounts without an identifiable currency are taken as euros.

Turnover
€0▼ 100%
2022 · €18,692
EBIT margin
Not meaningful: turnover is only a small part of operating income
Net result
€360,445
2024 · -€10,302
Working capital
-€1.1m▲ 47.1%
2024 · -€2.0m
In the rankings #3 company by total assets in Destelbergen, Construction sector#8 company by equity in Destelbergen, Construction sector
Trend over the years

2021 to 2025, 5 financial years 2018 to 2025, 8 financial years

The operating result for 2025 is nearly 7 times that of 2024 and the highest since 2021. It is a recovery after the fall in 2024.

Turnover€0 2023 Operating result€0.8m 2025 Net result€0.4m 2025

Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.

Use the arrow keys on the chart for the figures per year.

The sector band is the middle half of the companies in Construction of residential and non-residential buildings (NACE 41). 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 and return on assets (ROA).

Every figure with its change against the financial year before
favourable unfavourable
Line20182019202020212022202320242025
Turnover€0.001m€0.02m€0▼ 100%
Operating result€0.09m-€0.1m▲ 8.3%€0.04m▼ 56.4%€0.003m▼ 93.8%€0.2m▲ 59×€0.2m▲ 18.2%€0.1m▼ 36.9%€0.8m▲ 595%
Net result€0.05m-€0.06m▲ 12.4%-€0.004mbelow the sector's middle half-€0.05mbelow the sector's middle half▼ 1,143%€0.09mwithin the sector's middle half€0.09mwithin the sector's middle half▼ 2.9%-€0.01mbelow the sector's middle half€0.4mabove the sector's middle half
Equity€0.4m-€0.4m▲ 15.6%€0.4mwithin the sector's middle half▼ 0.9%€0.4mwithin the sector's middle half▼ 11.7%€0.5mwithin the sector's middle half▲ 23.7%€0.6mwithin the sector's middle half▲ 18.6%€0.5mabove the sector's middle half▼ 1.8%€0.9mabove the sector's middle half▲ 65.5%
Total assets€2.4m-€2.8m▲ 13.4%€3.9mwithin the sector's middle half▲ 40.0%€5.1mwithin the sector's middle half▲ 33.2%€6.0mabove the sector's middle half▲ 16.2%€6.8mabove the sector's middle half▲ 13.6%€6.9mabove the sector's middle half▲ 1.5%€12.5mabove the sector's middle half▲ 81.1%
Debt€2.1m-€2.3m▲ 13.0%€3.4m▲ 47.7%€4.8m▲ 38.9%€5.5m▲ 15.6%€6.2m▲ 13.2%€6.3m▲ 1.8%€11.3m▲ 78.2%
Working capital-€0.7m--€0.7m▲ 7.7%-€0.8mbelow the sector's middle half▼ 15.4%-€1.0mbelow the sector's middle half▼ 23.5%-€1.6mbelow the sector's middle half▼ 62.2%-€0.9mbelow the sector's middle half▲ 42.1%-€2.0mbelow the sector's middle half▼ 123%-€1.1mbelow the sector's middle half▲ 47.1%
Solvency15.6%-15.9%▲ 0.3pp11.2%below the sector's middle half▼ 4.6pp7.4%below the sector's middle half▼ 3.8pp7.9%below the sector's middle half▲ 0.5pp8.3%below the sector's middle half▲ 0.4pp8.0%below the sector's middle half▼ 0.3pp7.3%below the sector's middle half▼ 0.7pp
Current ratio0.01-0.13▲ 0.120.07below the sector's middle half▼ 0.060.04below the sector's middle half▼ 0.020.06below the sector's middle half▲ 0.020.44below the sector's middle half▲ 0.380.02below the sector's middle half▼ 0.410.07below the sector's middle half▲ 0.05
Return on assets (ROA)2.2%-2.1%=-0.1%within the sector's middle half▼ 2.2pp-1.0%below the sector's middle half▼ 0.9pp1.5%within the sector's middle half▲ 2.5pp1.3%within the sector's middle half▼ 0.2pp-0.1%within the sector's middle half▼ 1.4pp2.9%within the sector's middle half▲ 3.0pp
Staff (FTE)0below the sector's middle half
above within below The sector band is the middle half of the companies in Construction of residential and non-residential buildings (NACE 41). 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.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €12.5m
Fixed assets €12.4m ▲ 81.3%
Current assets €81,014 ▲ 56.4%
Equity and liabilities €12.5m
Equity €910,441 ▲ 65.5%
Provisions €274,130
Debt €11.3m ▲ 78.2%
Debt's share of the balance-sheet total falls from 92.0% to 90.5%. Equity and debt are higher.
Key figures and ratios
2025 value · change against 2024
EBITDA
€1.9m▲
2024 · €411,674
Cash flow
€1.4m▲
2024 · €279,157
Debt to equity
12.38▲
2024 · 11.51
ROE
39.6%▲
2024 · -1.9%
Interest coverage
8.58▲
2024 · 3.08
Debt ≤ 1 year
€1.2m▼
2024 · €2.1m
Debt > 1 year
€10.0m▲
2024 · €4.2m
Income taxes
€0=
2024 · €0
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.

Securities and guarantees

on own assets and for others
Item20212022202320242025
Debts secured on the company's own assets€2.9m€3.3m€2.9m--
Mortgages, amount registered€4.0m€5.1m€13.1m€13.1m€8.6m
Carrying value of the mortgaged assets€4.8m€5.1m€5.3m€6.1m€11.8m

Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)

Investments

fixed assets acquired
Item20212022202320242025
Tangible fixed assets€1.5m€1.1m€444,074€1.0m€6.9m
Depreciation and write-downs of the year€221,755€284,568€236,156€289,459€1.0m

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Comparable companies

These companies have the same main activity as MIDRAS PROJECTS: general construction of residential buildings (NACE 41001). They are comparable in size and age: total assets between €9.2m and €16m, founded between 1996 and 2005.

CompanyFoundedTotal assetsEquityGross marginNet resultFTEFinancial year
MIDRAS PROJECTS Destelbergen2000€12.5m€0.9m€1.9m€0.4m-2025
INDACO CONSTRUCTIE Oudenaarde2005€10.1m€6.5m€1.9m€0.6m10.62025
FRP EUROPE Oudenaarde1996€9.6m€3.0m€2.4m€1.3m2.22025
ECO INVEST FINANCE Berlare2001€12.7m€8.5m€1.2m€0.008m13.62025
BOUWPARTNERS Temse1999€10.5m€2.7m€1.2m€0.1m122025
IMMO RETRABOUW Zandhoven2000€16.4m€9.5m€2.0m€1.3m02025
J.B. CONSTRUCT BETONBOUW Lier2002€9.2m€3.2m€2.3m€0.2m15.62025

They were chosen from the 15,546 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity

Companies with the same profile, two years later

Historical observation

In July 2024, 208 companies had the same profile as MIDRAS PROJECTS has now. Two years later, 0.5% had gone bankrupt and 99.0% were still going.

  • Medium-sized
  • 20 years or older
  • solvency under 10%
  • a profit under 5% of the balance sheet
0.5% went bankrupt
0.0% stopped otherwise
99.0% was still going

Another 0.5% stopped without a precise date, possibly only after those two years.

The bankruptcy probability of MIDRAS PROJECTS itself is higher: 1.0% within 12 months. It rests on far more data about MIDRAS PROJECTS than the profile alone.

Test of the method

The method was tested on the 497,445 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.

The companies in ten equal groups, from the lowest to the highest expected share
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 208 companies, not a prediction for MIDRAS 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.

Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 53 lines

Source: Annual accounts 2025 at the NBB, filed on 21-08-2026.

Balance sheet Code20242025
Assets
Total assets20/58€6.9m€12.5m▲
Fixed assets21/28€6.8m€12.4m▲
Tangible fixed assets22/27€6.8m€12.4m▲
Land and buildings22€6.8m€12.4m▲
Financial fixed assets28€0-
Current assets29/58€0.05m€0.08m▲
Amounts receivable within one year40/41€0.01m€0.02m▲
Trade receivables40€0.004m€0.02m▲
Other amounts receivable41€0.008m€0.008m▼
Cash at bank and in hand54/58€0.04m€0.03m▼
Deferred charges and accrued income490/1€0.004m€0.03m▲
Equity and liabilities
Total equity and liabilities10/49€6.9m€12.5m▲
Equity10/15€0.5m€0.9m▲
Contributions10/11€0.2m€0.2m=
Reserves13€0.3m€1.2m▲
Tax-exempt reserves132€0.02m€0.8m▲
Distributable reserves133€0.3m€0.3m=
Profit (loss) carried forward14€0-€0.5m▼
Provisions and deferred taxes16-€0.3m
Deferred taxes168-€0.3m
Amounts payable17/49€6.3m€11.3m▲
Amounts payable after more than one year17€4.2m€10.0m▲
Financial debts170/4€4.2m€10.0m▲
Amounts payable within one year42/48€2.1m€1.2m▼
Current portion of amounts payable after more than one year42€0.4m€0.6m▲
Trade debts44€0.4m€0.3m▼
Suppliers440/4€0.4m€0.3m▼
Taxes, remuneration and social security45€0.002m€0.007m▲
Taxes450/3€0.002m€0.007m▲
Other amounts payable47/48€1.3m€0.3m▼
Accrued charges and deferred income492/3€0.008m€0.1m▲
Income statement Code20242025
Non-recurring operating income76A-€1.3m
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.3m€1.0m▲
Other operating charges640/8€0.04m€0.05m▲
Gross operating margin9900€0.5m€1.9m▲
Operating profit (loss)9901€0.1m€0.8m▲
Financial income75/76B€0.001m€0.002m▲
Recurring financial income75€0.001m€0.002m▲
Financial charges65/66B€0.1m€0.2m▲
Recurring financial charges65€0.1m€0.2m▲
Profit (loss) for the period before taxes9903-€0.01m€0.6m▲
Transfer from deferred taxes780-€0.004m
Transfer to deferred taxes680-€0.3m
Income taxes67/77€0€0=
Profit (loss) for the period9904-€0.01m€0.4m▲
Transfer from tax-exempt reserves789-€0.01m
Transfer to tax-exempt reserves689-€0.8m
Profit (loss) for the period to be appropriated9905-€0.01m-€0.5m▼
Appropriation of the result
Profit (loss) to be appropriated9906-€0.009m-€0.5m▼
Profit (loss) brought forward from the previous period14P€0.001m€0▼
Transfer from equity791/2€0.009m€0▼
Transfer to equity691/2€0-
To other reserves6921€0-

The notes to these accounts have 11 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.

Line20182019202020212022202320242025Change
Operating income70/76A---€0.4m€0.5m€0.6m---
Turnover70--€0.001m-€0.02m€0---
Other operating income74---€0.4m€0.5m€0.6m---
Non-recurring operating income76A----€128€0-€1.3m-
Operating charges60/66A---€0.4m€0.4m€0.4m---
Goods for resale, raw materials and consumables60----€0.02m€0---
Purchases600/8----€0.02m€0---
Services and other goods61---€0.1m€0.02m€0.08m---
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.1m€0.1m€0.2m€0.2m€0.3m€0.2m€0.3m€1.0m▲ 252%
Other operating charges640/8---€0.03m€0.04m€0.04m€0.04m€0.05m▲ 22.6%
Gross operating margin9900€0.2m€0.3m----€0.5m€1.9m▲ 325%
Operating profit (loss)9901€0.09m€0.1m€0.04m€0.003m€0.2m€0.2m€0.1m€0.8m▲ 595%
Financial income75/76B---€0.005m€0.002m€230€0.001m€0.002m▲ 168%
Recurring financial income75--€0.004m€0.005m€0.002m€230€0.001m€0.002m▲ 168%
Income from current assets751-----€124---
Other financial income752/9---€0.005m€0.002m€106---
Financial charges65/66B---€0.06m€0.08m€0.1m€0.1m€0.2m▲ 63.2%
Recurring financial charges65€0.04m€0.04m€0.05m€0.06m€0.08m€0.1m€0.1m€0.2m▲ 63.2%
Debt charges650--€0.05m€0.06m€0.07m€0.1m---
Other financial charges652/9---€0.002m€0.001m€0.005m---
Profit (loss) for the period before taxes9903€0.05m€0.06m-€0.004m-€0.05m€0.09m€0.09m-€0.01m€0.6m-
Transfer from deferred taxes780-------€0.004m-
Transfer to deferred taxes680-------€0.3m-
Income taxes67/77--€0--€0.002m€0€0=
Taxes670/3-----€0.002m---
Profit (loss) for the period9904€0.05m€0.06m-€0.004m-€0.05m€0.09m€0.09m-€0.01m€0.4m-
Transfer from tax-exempt reserves789-------€0.01m-
Transfer to tax-exempt reserves689-------€0.8m-
Profit (loss) for the period to be appropriated9905€0.05m€0.06m-€0.004m-€0.05m€0.09m€0.09m-€0.01m-€0.5m▼ 4,384%
Line20182019202020212022202320242025Change
Assets
Total assets20/58€2.4m€2.8m€3.9m€5.1m€6.0m€6.8m€6.9m€12.5m▲ 81.1%
Formation expenses20--€0------
Fixed assets21/28€2.4m€2.7m€3.8m€5.1m€5.9m€6.1m€6.8m€12.4m▲ 81.3%
Intangible fixed assets21--€0------
Tangible fixed assets22/27€2.4m€2.7m€3.8m€5.1m€5.9m€6.1m€6.8m€12.4m▲ 81.3%
Land and buildings22---€5.1m€5.9m€6.1m€6.8m€12.4m▲ 81.3%
Financial fixed assets28€100€100€100€100€100€100€0--
Affiliated companies280/1---€100€100€100---
Participating interests280---€100€100€100---
Current assets29/58€0.004m€0.1m€0.06m€0.04m€0.1m€0.7m€0.05m€0.08m▲ 56.4%
Stocks and contracts in progress3----€0€0---
Amounts receivable within one year40/41-€0.06m€11€0.006m€0.02m€0.7m€0.01m€0.02m▲ 91.8%
Trade receivables40----€0.001m€0.001m€0.004m€0.02m▲ 308%
Other amounts receivable41---€0.006m€0.01m€0.7m€0.008m€0.008m▼ 8.5%
Cash at bank and in hand54/58€0.004m€0.04m€0.05m€0.03m€0.08m€0.007m€0.04m€0.03m▼ 7.6%
Deferred charges and accrued income490/1---€0.005m€0.004m€0.004m€0.004m€0.03m▲ 469%
Equity and liabilities
Total equity and liabilities10/49€2.4m€2.8m€3.9m€5.1m€6.0m€6.8m€6.9m€12.5m▲ 81.1%
Equity10/15€0.4m€0.4m€0.4m€0.4m€0.5m€0.6m€0.5m€0.9m▲ 65.5%
Contributions10/11€0.2m€0.2m-€0.2m€0.2m€0.2m€0.2m€0.2m=
Reserves13€0.2m€0.2m€0.2m€0.2m€0.3m€0.3m€0.3m€1.2m▲ 249%
Non-distributable reserves130/1---€0.01m€0.01m€0---
Reserves not available under the articles1311---€0.01m€0.01m€0---
Tax-exempt reserves132---€0.02m€0.02m€0.02m€0.02m€0.8m▲ 45×
Distributable reserves133---€0.1m€0.2m€0.3m€0.3m€0.3m=
Profit (loss) carried forward14€0.004m€0.06m€0.05m€0.001m€0.001m€0.001m€0-€0.5m-
Provisions and deferred taxes16-------€0.3m-
Deferred taxes168-------€0.3m-
Amounts payable17/49€2.1m€2.3m€3.4m€4.8m€5.5m€6.2m€6.3m€11.3m▲ 78.2%
Amounts payable after more than one year17€1.3m€1.5m€2.6m€3.7m€3.8m€4.6m€4.2m€10.0m▲ 136%
Financial debts170/4---€3.7m€3.8m€4.6m€4.2m€10.0m▲ 136%
Credit institutions173---€2.7m€2.4m€2.6m---
Other loans174---€1.1m€1.4m€2.0m---
Amounts payable within one year42/48€0.7m€0.8m€0.8m€1.0m€1.7m€1.6m€2.1m€1.2m▼ 44.5%
Current portion of amounts payable after more than one year42---€0.3m€0.3m€0.3m€0.4m€0.6m▲ 69.1%
Financial debts43----€0.6m€0---
Credit institutions430/8----€0.6m€0---
Trade debts44€0.008m€0.001m€0.002m€0.03m€0.07m€0.008m€0.4m€0.3m▼ 34.9%
Suppliers440/4---€0.03m€0.07m€0.008m€0.4m€0.3m▼ 34.9%
Taxes, remuneration and social security45---€0.001m€0.006m€0.002m€0.002m€0.007m▲ 233%
Taxes450/3---€0.001m€0.006m€0.002m€0.002m€0.007m▲ 233%
Other amounts payable47/48---€0.7m€0.7m€1.3m€1.3m€0.3m▼ 78.4%
Accrued charges and deferred income492/3---€0.007m€0.007m€0.007m€0.008m€0.1m▲ 17×
Line20182019202020212022202320242025Change
Profit (loss) for the period9904€0.05m€0.06m-€0.004m-€0.05m€0.09m€0.09m-€0.01m€0.4m-
+ Depreciation and write-downs630€0.1m€0.1m€0.2m€0.2m€0.3m€0.2m€0.3m€1.0m▲ 252%
Operating cash flow (approximation)€0.2m€0.2m€0.2m€0.2m€0.4m€0.3m€0.3m€1.4m▲ 394%
Investment in fixed assets (approximation)--€0.4m-€1.3m-€1.5m-€1.1m-€0.4m-€1.0m-€6.6m▼ 530%
Change in cash-€0.03m€0.02m-€0.02m€0.05m-€0.08m€0.03m-€0.003m-

A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.

Download as CSV

Latest 10 of 26 filings with the National Bank
Financial year Type Filed Reference Document
31-12-2025 micro format 21-08-2026 2026-00419890 NBB
31-12-2024 micro format 30-07-2025 2025-00344240 PDF
31-12-2023 full format 30-07-2024 2024-00316555 PDF
31-12-2022 full format 28-08-2023 2023-00372189 PDF
31-12-2021 full format 29-07-2022 2022-20257249 PDF
31-12-2020 full format 23-07-2021 2021-39600325 PDF
31-12-2019 abbreviated format 08-07-2020 2020-28300197 PDF
31-12-2018 abbreviated format 29-08-2019 2019-56300473 PDF
31-12-2017 abbreviated format 29-08-2018 2018-56000560 PDF
31-12-2016 abbreviated format 18-08-2017 2017-45300170 PDF

Show all 26 filings

Board & ownership

Directors

Directors
2 directors, last change in 2024
Jozef Van der Vorst
Director (not named in the articles) · since 16-05-2023 · earlier manager, until 19-05-2023 · term without a fixed end · listed in the 2025 annual accounts, filed on 21-08-2026
Current
Michael Van der Vorst
Director · since 19-12-2024 · term without a fixed end · listed in the 2025 annual accounts, filed on 21-08-2026
Current
Office holders in the KBO →
Signing authorityThe articles say who may bind the company, for example by signing a contract.
Each director alone
deed of 19-05-2023

Owners and capital

Capital transactions

Capital over time
  1. 19-05-2023 Converted to unavailable equity · €232,085

Mandate history

2 people, 2 in office
Show
  • Board
  • began earlier
Mandates per person, with start and end dates
Name Functions and periods
Jozef Van der Vorst
  • Manager, until 19-05-2023
  • Director (not named in the articles), since before 19-05-2023
Michael Van der Vorst
  • Director, from 19-12-2024 to date
See the board, name and registered office on a given date →

Articles of association

Board ruleThese rules set how the board is made up, meets and takes decisions.
“Algemene vergadering die bestuurder(s)benoemt, onbepaalde duur bij gebrek aan bepaling”
“Geheel van bevoegdheden aan hem toegekend met mogelijkheid deel te delegeren, iedere bestuurder,alleen optredend,mag alle handelingen…”
Liquidation ruleIn a liquidation the creditors are paid first. What is left goes to the shareholders.
“Een of meerdere vereffenaars aanduiden,bevoegdheden omlijnen,vergoeding bepalen, statuten of algemene vergadering”

Articles of association, deed of 19-05-2023 (in Dutch)

Network & group

MIDRAS PROJECTS shares no director with another company.

Companies at the same address

5 other companies

Connections & network

2 current directors
Depth

The network starts from the directors of MIDRAS PROJECTS. Every other company they run is a node.

This company Company Director Shareholding +N: links not shown yet Click a node to look further, drag to arrange, zoom with the mouse wheel.

Timeline

Acts, filings and financial milestones

Deadline for the 2026 accounts: 31-07-2027
2026
26-08
Gazette deed Registered office moved within Destelbergen
2 points ▸
  • Board meeting, 13-08-2026
  • Registered-office move, Dendermondesteenweg 531, 9070 Destelbergen

Open the act in the Belgian Official Gazette

21-08
NBB filing Annual accounts 2025 filedNBB
micro format · 21 days late
2025
31-12
Financial Back to profitnet €360,445
The net result is €360,445, after one loss-making year.
30-07
NBB filing Annual accounts 2024 filedPDF
micro format · 1 day before the deadline
14-02
Gazette deed Appointment: Michael Van der Vorst (director)
2 points ▸
  • General meeting, 19-12-2024
  • Director appointment, Michael Van der Vorst (director)

Open the act in the Belgian Official Gazette

2024
30-07
NBB filing Annual accounts 2023 filedPDF
full format · 1 day before the deadline
2023
31-12
Financial Equity above €500,000equity €560,298 ▲18.6%
After 2 profitable years in a row, equity reaches €560,298.
28-08
NBB filing Annual accounts 2022 filedPDF
full format · 28 days late
19-05
Gazette deed Resignation: Jozef Van der Vorst (manager)
Reappointment: Jozef Van der Vorst (director) · Registered office clause · Legal-form conversion11 points ▸
  • Other provision, “coordinatie statuten, DERDE BESLUIT” (deed in Dutch)
  • Director resignation, Jozef Van der Vorst (manager)
  • Director reappointment, Jozef Van der Vorst (director (not named in the articles))
  • Other provision, “kwijting ontslagnemende zaakvoerder(s), volgende jaarvergadering” (deed in Dutch)
  • Registered office clause, “9070 Destelbergen,Vossenberglaan 9 bus A, VIJFDE BESLUIT” (deed in Dutch)
  • General meeting, 29-03-2023
  • Legal-form conversion, “besloten vennootschap” (deed in Dutch)
  • Capital conversion, “statutair onbeschikbare eigen vermogensrekening” (deed in Dutch)
  • Other provision, “opheffing onbeschikbaarheid eigen vermogensrekening, opheffing statutair onbeschikbare eigen vermogensrekening en beschikbaar maken voor uitkering” (deed in Dutch)
  • Amendment of the articles
  • Capital

Open the act in the Belgian Official Gazette

2022
31-12
Financial Back to profitnet €90,580
The net result is €90,580, after 2 loss-making years.
29-07
NBB filing Annual accounts 2021 filedPDF
full format · 2 days before the deadline
2021
31-12
Financial Weakest financial yearnet -€50,682
The net result drops to -€50,682, the lowest from 2018 to 2025. It recovers the following year.
Show earlier events
23-07
NBB filing Annual accounts 2020 filedPDF
full format · 8 days before the deadline
2020
08-07
NBB filing Annual accounts 2019 filedPDF
abbreviated format · 23 days before the deadline
2019
29-08
NBB filing Annual accounts 2018 filedPDF
abbreviated format · 29 days late
2018
29-08
NBB filing Annual accounts 2017 filedPDF
abbreviated format · 29 days late
2017
18-08
NBB filing Annual accounts 2016 filedPDF
abbreviated format · 18 days late
2000
26-04
Gazette deed Incorporation

Show all 26 filings

Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.

Sources:Publications in the Belgian Official GazetteFilings with the National Bank

History

On 13 April 2000, MIDRAS PROJECTS was incorporated.1 In 2026 the registered office moved to Destelbergen.2 Total assets went from €2.4m in 2018 to €12.5m in 2025.3

  1. 1KBO register
  2. 2Belgian Official Gazette, 26-08-2026
  3. 3National Bank, annual accounts 2018 and 2025

Company details

Register details

Identity

KBO record
Name MIDRAS PROJECTS in Dutch
Enterprise number 0471.681.603
Legal form Private limited company
Status Active, normale toestand
Founded 13-04-2000
Entity type Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 19-05-2023 (in Dutch)
Name clauseThe company operates under this name according to its articles.
Midras Projects
deed of 19-05-2023 (in Dutch)
Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Vlaams Gewest, adres kan worden overgebracht naar om het even welke plaats in het Nederlands taalgebied of in het tweetalig gebied Brussel…”
deed of 19-05-2023 (in Dutch)

Registered office and establishments

Registered office Dendermondesteenweg 531, 9070 Destelbergen, Belgium
Establishment unit Dendermondesteenweg 531, 9070 Destelbergen since 02-05-2002 · unit number 2.095.945.9104100101 General construction of residential buildings

Activities

NACEBEL 2025
41001 General construction of residential buildings main activity
43990 Other specialised construction activities
Codes under NACEBEL 2008
41201 General construction of buildings main activity
43999 Specialised construction activities
Codes under NACEBEL 2003
45211 main activity
45250
PurposeThe purpose describes the activities the company may carry out under its articles.
“De algemene coördinatie van de werkzaamheden op de bouwwerf; De planning,de ontwikkeling en de coördinatie van bouwprojecten in de breedste…”
9 activities
  1. De algemene coördinatie van de werkzaamheden op de bouwwerf.
  2. De planning,de ontwikkeling en de coördinatie van bouwprojecten in de breedste betekenis van het woord,en zij kan alle daden stellen welke daartoe noodzakelijk zijn,met inbegrip van aanneming of onderaanneming en alle activiteiten die behoren tot het bedrijf van aannemer van bouwwerken,aldus het bouwen,verbouwen,afbreken,herstellen en afwerken van alle publieke en private gebouwen en het uitvoeren van alle openbare werken met alle materialen en voor alle bestemmingen,met inbegrip van alle bouw-en technische disciplines,zoals sanitair,verwarming,koeling,elektriciteit,en alle andere.
  3. Tevens kan de vennootschap de functie vervullen van tussenpersoon of gemandateerde in opdracht en voor rekening van derden.
  4. Bovendien heeft de vennootschap tot voorwerp de handel in alle ongebouwde en gebouwde onroerende goederen in alle mogelijke stadia van afwerking met inbegrip van verrichtingen die vereist zijn tot de valorisatie van onroerende goederen.
  5. Tenslotte mag de vennootschap handel drijven in het groot en in het klein in alle bouwmaterialen,bouwelementen en uitrustingsonderdelen voor alle soorten gebouwen,dit zowel in binnen als buitenland met inbegrip van import en export,als hoofdaannemer,onderaannemer,hoofdhandelaar,makelaar,bemiddelaar,agent,concessionaris of depositaris.
  6. Zij kan ook de functies van bestuurder,commissaris of vereffenaar van andere vennootschappen uitoefenen.
  7. De vennootschap mag leningen verrichten aan derden en waarborgen stellen voor derden.
  8. Zowel in België als in het buitenland mag de vennootschap alle nijverheids-,handels-,financiële,roerende of onroerende handelingen verrichten,die rechtstreeks of onrechtstreeks op haar voorwerp betrekking hebben of die van aard zouden zijn de verwezenlijking ervan te bevorderen of te vergemakkelijken.
  9. De vennootschap kan eveneens belangen hebben door middel van inbreng,afstand,samensmelting of op gelijk welke andere manier in andere vennootschappen of gelijkaardige ondernemingen die van die aard zijn om rechtstreeks of onrechtstreeks de ontwikkeling der zaken bevorderen.
deed of 19-05-2023 (in Dutch)

Invoicing and payment

VAT number BE 0471.681.603
E-invoicing via Peppol
Reachable via Peppol
Peppol ID 0208:0471681603
Other Peppol ID 9925:BE0471681603
Registered 01-02-2026

Follow this company and you will hear the next morning if it leaves the Peppol register.

Register as of 2 November 2026 · Peppol Directory

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 0471.681.603

Financial year and general meeting

Accounts at the NBB
Financial year end 31-12
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Last Friday of April at 14:00
deed of 19-05-2023 (in Dutch)

Environmental permits

2 applications in Flanders since 2022 · 2 granted
Een grond gebruiken, aanleggen of inrichten; Functiewijziging
Granted on 01-09-2025submitted 12-07-2025authority: Lokerenproject 2025078365
Bouwen of herbouwen; Slopen van niet vrijstaande gebouwen of constructies
Granted on 14-11-2022submitted 08-07-2022authority: Destelbergenproject 2022096209

Source: Omgevingsloket Vlaanderen.

Sites & property

Location
registered office establishment The establishment unit on the map
6 companies at this address See who is registered here

Buildings and parcels at the address

Ground area
2,723 m²
Building footprint
574 m²
Cadastral parcel Region Area Buildings Height / floors
44013B0299/00E011 Flanders 2,723 m² 1 · 574 m² -

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