MJG Construct
ActiveSummary
The computed 12-month bankruptcy probability of MJG Construct is 2.8% (moderate). The 2025 annual accounts show equity of €3,779 and a net result of €978. Equity has been shrinking by about 223% per year since 2023. If that trend continues, it turns negative around financial year 2026. Its solvency ranks better than 35% of 9,394 sector peers (NACE 41, financial year 2025). The company has been active since 2023 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Overview
Official details
Source: KBO- Status
- Active since 04-04-2023 Normal situation
- Activity
- General construction of residential buildings NACE 41001and 4 others
- Establishment unit
- 2.343.857.619 3920 Lommel, since 04-04-2023
- Financial year end
- 31 December
- Peppol
- Reachable since 22-12-2025
Financial position
- Bankruptcy probabilitywithin 12 months
- 2.8%
- Turnover
- €48,002
- Profit
- €978
- Equity
- €3,779
- ▲ 34.9%
- Total assets
- €13,066
- ▲ 9.9%
- 2025 accounts filed 21 days after the deadline
Score breakdownraises riskFounded in 2023Sector: Construction of residential and non-residential buildings (NACE 41)Size: turnover €48,002, total assets €13,066lowers riskLiquidity: current ratio 0.95, cash €1,857Show the evidence
Checked score
About 3 in 100 comparable companies go bankrupt within 12 months (an estimate).
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, micro). It does better than 36% of them on solvency, 25% on liquidity, 31% on profitability and 74% 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).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 3 accounts on average 20 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)
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, 2026-00430590.
Annual accounts 2025 filed on 21-08-2026 at the NBB all 3 filings
2023 to 2025, 3 financial years
The operating result for 2025 is a profit of €3,277, after a loss of €15,409 in 2024.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
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).
Investments
| Item | 2023 | 2024 | 2025 |
|---|---|---|---|
| Tangible fixed assets | €9,168 | - | €569 |
| Depreciation and write-downs of the year | €816 | €2,319 | €2,341 |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Turnover70 | - | - | €48,002 | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | €42,182 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €816 | €2,319 | €2,341 | ▲ 0.9% |
| Other operating charges640/8 | €434 | €406 | €202 | ▼ 50.2% |
| Gross operating margin9900 | €23,453 | -€12,684 | €5,821 | - |
| Operating profit (loss)9901 | €22,203 | -€15,409 | €3,277 | - |
| Financial income75/76B | €0 | €9 | €0 | ▼ 100% |
| Recurring financial income75 | €0 | €9 | €0 | ▼ 100% |
| Financial charges65/66B | €467 | €2,296 | €2,149 | ▼ 6.4% |
| Recurring financial charges65 | €467 | €2,296 | €2,149 | ▼ 6.4% |
| Profit (loss) for the period before taxes9903 | €21,736 | -€17,696 | €1,129 | - |
| Income taxes67/77 | €6,079 | €160 | €150 | ▼ 6.1% |
| Profit (loss) for the period9904 | €15,657 | -€17,856 | €978 | - |
| Profit (loss) for the period to be appropriated9905 | €15,657 | -€17,856 | €978 | - |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €34,821 | €11,884 | €13,066 | ▲ 9.9% |
| Fixed assets21/28 | €8,351 | €6,032 | €4,260 | ▼ 29.4% |
| Tangible fixed assets22/27 | €8,351 | €6,032 | €4,260 | ▼ 29.4% |
| Plant, machinery and equipment23 | €3,111 | €1,897 | €1,229 | ▼ 35.2% |
| Furniture and vehicles24 | €5,240 | €4,135 | €3,030 | ▼ 26.7% |
| Current assets29/58 | €26,470 | €5,852 | €8,807 | ▲ 50.5% |
| Amounts receivable within one year40/41 | €18,211 | €2,921 | €6,894 | ▲ 136% |
| Trade receivables40 | €15,617 | €1,317 | €6,329 | ▲ 381% |
| Other amounts receivable41 | €2,594 | €1,605 | €564 | ▼ 64.8% |
| Cash at bank and in hand54/58 | €6,879 | €2,369 | €1,857 | ▼ 21.6% |
| Deferred charges and accrued income490/1 | €1,379 | €562 | €56 | ▼ 90.0% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €34,821 | €11,884 | €13,066 | ▲ 9.9% |
| Equity10/15 | €20,657 | €2,801 | €3,779 | ▲ 34.9% |
| Contributions10/11 | €5,000 | €5,000 | €5,000 | = |
| Reserves13 | €15,657 | €15,657 | €15,657 | = |
| Distributable reserves133 | €15,657 | €15,657 | €15,657 | = |
| Profit (loss) carried forward14 | - | -€17,856 | -€16,878 | ▲ 5.5% |
| Amounts payable17/49 | €14,165 | €9,083 | €9,287 | ▲ 2.2% |
| Amounts payable within one year42/48 | €14,165 | €9,083 | €9,287 | ▲ 2.2% |
| Trade debts44 | €8,086 | €1,917 | €2,525 | ▲ 31.7% |
| Suppliers440/4 | €8,086 | €1,917 | €2,525 | ▲ 31.7% |
| Taxes, remuneration and social security45 | €6,079 | €7,079 | €4,273 | ▼ 39.6% |
| Taxes450/3 | €6,079 | €6,079 | €1,073 | ▼ 82.4% |
| Remuneration and social security454/9 | - | €1,000 | €3,200 | ▲ 220% |
| Other amounts payable47/48 | - | €88 | €2,489 | ▲ 28× |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €15,657 | -€17,856 | €978 | - |
| + Depreciation and write-downs630 | €816 | €2,319 | €2,341 | ▲ 0.9% |
| Operating cash flow (approximation) | €16,473 | -€15,537 | €3,319 | - |
| Investment in fixed assets (approximation) | - | €0 | -€569 | - |
| Change in cash | - | -€4,511 | -€512 | ▲ 88.7% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 7,976 companies had the same profile as MJG Construct has now. Two years later, 3.6% had gone bankrupt and 94.3% were still going.
- Micro
- 2 to 5 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of MJG Construct itself: 2.8% within 12 months.
Test of the method
The method was tested on the 497,446 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 7,976 companies, not a prediction for MJG 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.
Board & ownership
Directors
Owners and capital
Shareholders
- GIELEN Joeri Marc Danny 100 shares (100%) · €5,000 in cash
Capital transactions
- 06-04-2023 Incorporation · €5,000 · 100 shares
Articles of association
- Statutory auditorA statutory auditor is a registered auditor who checks the annual accounts. Small companies need not have one. According to the deed, the legal criteria do not require one here.
- No statutory auditor
Articles of association, deed of 06-04-2023 (in Dutch)
Network & group
MJG Construct shares no director with another company.
Connections & network
1 current directorThe network starts from the directors of MJG Construct. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
06-04
Gazette deed
IncorporationStarting capital €5,000 · Appointment: GIELEN Joeri Marc Danny (director) · Founder17 points ▸
- Founder, GIELEN Joeri Marc Danny
- Incorporation, “MJG Construct” (deed in Dutch)
- Other provision, “bevoegdheid en bekwaamheid comparant” (deed in Dutch)
- Other provision, “identiteitscontrole, rijksregisternummer en identiteitskaart” (deed in Dutch)
- Other provision, “verzoek authentieke oprichtingsakte, verlijden oprichtingsakte besloten vennootschap” (deed in Dutch)
- Other provision, “financieel plan, verantwoording aanvangsvermogen in licht voorgenomen bedrijvigheid” (deed in Dutch)
- Other provision, “oprichtersaansprakelijkheid, verantwoordelijkheid bij kennelijk ontoereikend aanvangsvermogen” (deed in Dutch)
- Founding capital, €5,000
- Other provision, “vaststelling statuten, statuten vastgelegd als volgt” (deed in Dutch)
- Registered office clause, “3920 Lommel,Doelenstraat 34” (deed in Dutch)
- Pre-incorporation commitments, “takeover, alle verbintenissen en verplichtingen en alle activiteiten in naam en voor rekening vennootschap in oprichting” (deed in Dutch)
- Other provision, “woonstkeuze akte, in respectieve zetel of woonplaats” (deed in Dutch)
- The act holds 5 more points.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
Invoicing and payment
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 0800.353.037
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 72020C0847/00N002 | Flanders | 379 m² | 1 · 99 m² | 11.9 m · 3 |