MIG CONSTRUCT
ActiveSummary
The computed 12-month bankruptcy probability of MIG CONSTRUCT is 1.9% (moderate). The 2025 annual accounts show equity of €15,794 and a net result of €7,707. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 69% of 2075 sector peers (fiscal year 2025). The company has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+8
Solvency83▲+22
Growth85▲+22
Track record100
Bankruptcy probability, 12 months
1.9%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,000 at 30 days acceptable
Liquidity ample (current ratio 2.38 against 1.57 in 2024; short-term debt: 42.1% and cash: 50.3% of total assets), and 42.1% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Four 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 · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
192022232425
2019 to 2025 · latest year €15,794
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 19-12-2025, 43 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
43 d early
2024
45 d early
2023
25 d late
2022
144 d late
2020
31 d early
2019
42 d early
2018
323 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 47 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close28-09-2026 today31-01-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you trust this company with building work?Contractor check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, full schema
Turnover
€69,480▲ 57.2%
2024 · €44,190
EBIT margin
11.2%▼ 3.0pp
2024 · 14.1%
Net result
€7,707▲ 24.4%
2024 · €6,195
Working capital
€15,794▲ 95.3%
2024 · €8,087
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202022202320242025
Turnover€35,075-€73,950▲ 111%€44,190▼ 40.2%€69,480▲ 57.2%
Operating result€1,239-€6,818-€1,347€6,240▲ 363%€7,752▲ 24.2%
Net result€1,200below the sector's middle half-€6,863below the sector's middle half-€1,177below the sector's middle half€6,195within the sector's middle half▲ 426%€7,707within the sector's middle half▲ 24.4%
EBIT margin-19.4%-1.8%▲ 21.3pp14.1%▲ 12.3pp11.2%▼ 3.0pp
Equity€11,332below the sector's middle half▲ 11.8%€715below the sector's middle half-€1,892below the sector's middle half▲ 165%€8,087below the sector's middle half▲ 327%€15,794below the sector's middle half▲ 95.3%
Total assets€30,241below the sector's middle half▲ 33.8%€18,467below the sector's middle half-€30,826below the sector's middle half▲ 66.9%€22,374below the sector's middle half▼ 27.4%€27,272below the sector's middle half▲ 21.9%
Debt€18,909▲ 51.5%€17,752-€28,934▲ 63.0%€14,287▼ 50.6%€11,478▼ 19.7%
Working capital€11,332below the sector's middle half▲ 11.8%€13,743below the sector's middle half-€25,886within the sector's middle half▲ 88.4%€8,087below the sector's middle half▼ 68.8%€15,794below the sector's middle half▲ 95.3%
Solvency37.5%within the sector's middle half▼ 7.3pp3.9%below the sector's middle half-6.1%below the sector's middle half▲ 2.3pp36.1%within the sector's middle half▲ 30.0pp57.9%within the sector's middle half▲ 21.8pp
Current ratio1.60within the sector's middle half▼ 0.214.41above the sector's middle half-6.26above the sector's middle half▲ 1.851.57within the sector's middle half▼ 4.702.38within the sector's middle half▲ 0.81
Return on assets (ROA)4.0%within the sector's middle half▲ 7.3pp-37.2%below the sector's middle half-3.8%within the sector's middle half▲ 41.0pp27.7%above the sector's middle half▲ 23.9pp28.3%above the sector's middle half▲ 0.6pp
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result has risen three years in a row; 2025 is 24% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €27,272
Equity
€15,794 ▲ 95.3%
Debt
€11,478 ▼ 19.7%
Debt's share of the balance-sheet total falls from 63.9% to 42.1%. Equity is higher and debt is lower.
Key figures and ratios
Debt to equity
0.73▼
2024 · 1.77
ROE
48.8%▼
2024 · 76.6%
Debt ≤ 1 year
€11,478▼
2024 · €14,287
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,970 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.5%
went bankrupt
3.4%
stopped otherwise
95%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 1.9% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 26,970 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | - | €35,075 | €73,950 | €44,190 | €69,480 | ▲ 57.2% |
| Goods, raw materials, services and sundry goods60/61 | - | €40,874 | €71,582 | €37,545 | €61,341 | ▲ 63.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €672 | €673 | €20 | - | - |
| Other operating charges640/8 | - | €347 | €347 | €385 | €387 | ▲ 0.5% |
| Gross operating margin9900 | €1,239 | -€5,799 | €2,367 | €6,645 | €8,139 | ▲ 22.5% |
| Operating profit (loss)9901 | €1,239 | -€6,818 | €1,347 | €6,240 | €7,752 | ▲ 24.2% |
| Financial income75/76B | - | €50 | - | - | - | - |
| Recurring financial income75 | - | €50 | - | - | - | - |
| Financial charges65/66B | - | €45 | €45 | €45 | €45 | = |
| Recurring financial charges65 | €39 | €45 | €45 | €45 | €45 | = |
| Profit (loss) for the period before taxes9903 | €1,200 | -€6,813 | €1,302 | €6,195 | €7,707 | ▲ 24.4% |
| Income taxes67/77 | - | €50 | €125 | - | - | - |
| Profit (loss) for the period9904 | €1,200 | -€6,863 | €1,177 | €6,195 | €7,707 | ▲ 24.4% |
| Profit (loss) for the period to be appropriated9905 | €1,200 | -€6,863 | €1,177 | €6,195 | €7,707 | ▲ 24.4% |
| Line | 2020 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €30,241 | €18,467 | €30,826 | €22,374 | €27,272 | ▲ 21.9% |
| Fixed assets21/28 | - | €693 | €20 | - | - | - |
| Tangible fixed assets22/27 | - | €693 | €20 | - | - | - |
| Plant, machinery and equipment23 | - | €693 | €20 | - | - | - |
| Current assets29/58 | €30,241 | €17,774 | €30,806 | €22,374 | €27,272 | ▲ 21.9% |
| Amounts receivable within one year40/41 | €30,219 | €16,138 | €22,782 | €18,583 | €13,543 | ▼ 27.1% |
| Trade receivables40 | - | €14,950 | €20,150 | - | €11,500 | - |
| Other amounts receivable41 | - | €1,188 | €2,632 | €18,583 | €2,043 | ▼ 89.0% |
| Cash at bank and in hand54/58 | €22 | €1,636 | €8,024 | €3,791 | €13,729 | ▲ 262% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €30,241 | €18,467 | €30,826 | €22,374 | €27,272 | ▲ 21.9% |
| Equity10/15 | €11,332 | €715 | €1,892 | €8,087 | €15,794 | ▲ 95.3% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Capital10 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Issued capital100 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Profit (loss) carried forward14 | -€7,268 | -€17,885 | -€16,708 | -€10,513 | -€2,806 | ▲ 73.3% |
| Amounts payable17/49 | €18,909 | €17,752 | €28,934 | €14,287 | €11,478 | ▼ 19.7% |
| Amounts payable within one year42/48 | €18,909 | €4,031 | €4,920 | €14,287 | €11,478 | ▼ 19.7% |
| Trade debts44 | €10,107 | €4,031 | €4,920 | - | €1 | - |
| Suppliers440/4 | - | €4,031 | €4,920 | - | €1 | - |
| Other amounts payable47/48 | - | - | - | €14,287 | €11,477 | ▼ 19.7% |
| Accrued charges and deferred income492/3 | - | €13,721 | €24,014 | - | - | - |
| Line | 2020 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1,200 | -€6,863 | €1,177 | €6,195 | €7,707 | ▲ 24.4% |
| + Depreciation and write-downs630 | - | €672 | €673 | €20 | - | - |
| Operating cash flow (approximation) | €1,200 | -€6,191 | €1,850 | €6,215 | €7,707 | ▲ 24.0% |
| Investment in fixed assets (approximation) | - | - | €0 | - | - | - |
| Change in cash | - | - | €6,388 | -€4,233 | €9,938 | ▲ 335% |
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
2025
19-12
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
30-06
Financial
Highest result since 2019net €7,707 ▲24.4%
Operating result €7,752, net result €7,707, both a record.
2024
17-12
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
25-02
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 25 days late
2023
30-06
Financial
Back to profitnet €1,177
Net result €1,177 after one loss-making year.
24-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 144 days late
2022
30-06
Financial
Weakest financial yearnet -€6,863
Net result drops to -€6,863, the lowest in the series; recovery starts the following year.
30-06
Financial
Liquidity triplescurrent ratio 4.41
Current ratio from 1.60 to 4.41; short-term debt falls from €18,909 to €4,031.
2020
31-12
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
30-06
Financial
Back to profitnet €1,200
Net result €1,200 after one loss-making year.
2019
20-12
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
20-12
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 323 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
1 act for this company is 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, Koekelberg · 1 establishment unit since 2016
Ground area
263 m²
Building footprint
114 m²
Volume, LiDAR
1,087 m³
Parcel 21492B0098/00E006, Brussels · tallest building 17.8 m, ±4 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
Mig Construct
since 20162.259.450.692
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21492B0098/00E006 | Brussels | 263 m² | 1 · 114 m² | 17.8 m · 4 fl. |
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.
Similar companies · same sector, comparable size
FIA E@G
BE 0540.660.479
Anderlecht · Eq €15,795
YNS Construct
BE 0750.535.817
Antwerpen · Eq €15,797
G & A CONCEPT
BE 0665.523.235
Anderlecht · Eq €15,783
MOROZ DARIUSZ RÉNOVATIONS
BE 0548.959.325
Sint-Gillis (bij-Brussel) · Eq €15,810
GDB Metal
BE 1001.021.687
Lokeren · Eq €15,778
Of 15,521 companies in sector 43990 we hold annual accounts for 7,423. 4,865 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 (pre-2019)
Founded22-12-2016
Fiscal year end30-06
Activities, NACEBEL 2025
43990Other specialised construction activities
43422Screed work
E-invoicing
Reachable via Peppol
Peppol ID
0208:0668366424
Also
9925:BE0668366424
Registered
13-02-2026
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.