MK-BAT
ActiveSummary
MK-BAT has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €105,648 and a net result of €86,602. Equity is shrinking by ~8.2% per year across the filed fiscal years. Its solvency ranks better than 18% of 36380 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.3% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability81▲+49
Solvency41▲+12
Growth78▲+46
Track record100
Bankruptcy probability, 12 months
1.3%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €5,000 at 30 days only on tighter terms
Liquidity tight (current ratio 1.45 against 8.64 in 2023; short-term debt: 68.4% and cash: 0.9% of total assets), and 84.1% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk
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 · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 18% of 36380 sector peers (2024).
NBB · sector comparisonPosition among 36380 sector peers
Solvency
better than 18%
← weakest
strongest →
lowers risk · Growing equity
Reported equity is higher than in 2022 and did not fall compared with 2023. These amounts do not establish the cause of the change.
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year €105,648
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 23-01-2026, 176 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
176 d late
2023
300 d late
2022
89 d early
2021
80 d late
2020
136 d late
2019
82 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 114 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 (1)
History
Go further with this company
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Financials · fiscal year 2024, micro schema
Equity
€105,648▲ 455%
2023 · €19,046
Total assets
€662,640▲ 38.1%
2023 · €479,758
Net result
€86,602
2023 · -€11,172
Working capital
€203,299▼ 52.1%
2023 · €424,247
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
Line20202021202220232024
Operating result-€2,382▼ 268%-€23,753▼ 897%€5,987-€5,107€121,729
Net result-€2,433below the sector's middle half▼ 103%-€22,061below the sector's middle half▼ 807%€7,607within the sector's middle half-€11,172below the sector's middle half€86,602above the sector's middle half
Equity€44,416within the sector's middle half▼ 5.2%€22,611within the sector's middle half▼ 49.1%€30,218within the sector's middle half▲ 33.6%€19,046below the sector's middle half▼ 37.0%€105,648within the sector's middle half▲ 455%
Total assets€45,352below the sector's middle half▼ 6.3%€26,156below the sector's middle half▼ 42.3%€100,164within the sector's middle half▲ 283%€479,758above the sector's middle half▲ 379%€662,640above the sector's middle half▲ 38.1%
Debt€935▼ 40.4%€3,545▲ 279%€69,946▲ 1,873%€460,712▲ 559%€556,992▲ 20.9%
Working capital€44,416▼ 5.2%€23,111▼ 48.0%€96,283▲ 317%€424,247▲ 341%€203,299▼ 52.1%
Solvency97.9%above the sector's middle half▲ 1.2pp86.4%above the sector's middle half▼ 11.5pp30.2%within the sector's middle half▼ 56.3pp4.0%below the sector's middle half▼ 26.2pp15.9%below the sector's middle half▲ 12.0pp
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.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2024: €121,729 after a loss of €5,107 in 2023, the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €662,640
Fixed assets
€5,910
Current assets
€656,730
Equity and liabilities €662,640
Equity
€105,648 ▲ 455%
Debt
€556,992 ▲ 20.9%
Debt's share of the balance-sheet total falls from 96.0% to 84.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€123,039
Cash flow
€87,912
Current ratio
1.45▼
2023 · 8.64
Quick ratio
0.30▼
2023 · 1.03
Debt to equity
5.27▼
2023 · 24.19
ROE
82.0%▲
2023 · -58.7%
ROA
13.1%▲
2023 · -2.3%
Interest coverage
5.57
Debt ≤ 1 year
€453,431▲
2023 · €55,511
Debt > 1 year
€99,300▼
2023 · €404,251
Income taxes
€16,427
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,613 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 97% are still going.
- Small
- 20 years or older
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
0.6%
went bankrupt
2.0%
stopped otherwise
97%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 1.3% 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 2,613 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 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Goods, raw materials, services and sundry goods60/61 | - | €5,840 | €5,007 | €4,985 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | - | €1,310 | - |
| Other operating charges640/8 | - | €553 | €207 | €122 | €87 | ▼ 28.7% |
| Gross operating margin9900 | -€2,382 | -€23,200 | €6,194 | -€4,985 | €123,126 | ▲ 2,570% |
| Operating profit (loss)9901 | -€2,382 | -€23,753 | €5,987 | -€5,107 | €121,729 | ▲ 2,484% |
| Financial income75/76B | - | €1,720 | €1,650 | €2,020 | €3,398 | ▲ 68.2% |
| Recurring financial income75 | €0 | €1,720 | €1,650 | €2,020 | €3,398 | ▲ 68.2% |
| Financial charges65/66B | - | €28 | €30 | €8,085 | €22,098 | ▲ 173% |
| Recurring financial charges65 | €51 | €28 | €30 | €8,085 | €22,098 | ▲ 173% |
| Profit (loss) for the period before taxes9903 | -€2,433 | -€22,061 | €7,607 | -€11,172 | €103,029 | ▲ 1,022% |
| Income taxes67/77 | €0 | - | - | - | €16,427 | - |
| Profit (loss) for the period9904 | -€2,433 | -€22,061 | €7,607 | -€11,172 | €86,602 | ▲ 875% |
| Profit (loss) for the period to be appropriated9905 | -€2,433 | -€22,061 | €7,607 | -€11,172 | €86,602 | ▲ 875% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €45,352 | €26,156 | €100,164 | €479,758 | €662,640 | ▲ 38.1% |
| Fixed assets21/28 | - | - | - | - | €5,910 | - |
| Tangible fixed assets22/27 | - | - | - | - | €5,910 | - |
| Furniture and vehicles24 | - | - | - | - | €5,910 | - |
| Current assets29/58 | €45,352 | €26,156 | €100,164 | €479,758 | €656,730 | ▲ 36.9% |
| Amounts receivable after more than one year29 | - | - | - | - | €50,000 | - |
| Other amounts receivable291 | - | - | - | - | €50,000 | - |
| Stocks and contracts in progress3 | - | - | €43,390 | €422,641 | €519,417 | ▲ 22.9% |
| Stocks30/36 | - | - | €43,390 | €422,641 | €519,417 | ▲ 22.9% |
| Amounts receivable within one year40/41 | €45,352 | €26,155 | €40,198 | €53,598 | €81,060 | ▲ 51.2% |
| Trade receivables40 | - | - | €13,750 | €1,901 | €66,858 | ▲ 3,417% |
| Other amounts receivable41 | - | €26,155 | €26,448 | €51,697 | €14,202 | ▼ 72.5% |
| Cash at bank and in hand54/58 | €0 | €1 | €16,576 | €3,519 | €6,191 | ▲ 75.9% |
| Deferred charges and accrued income490/1 | - | - | - | - | €62 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €45,352 | €26,156 | €100,164 | €479,758 | €662,640 | ▲ 38.1% |
| Equity10/15 | €44,416 | €22,611 | €30,218 | €19,046 | €105,648 | ▲ 455% |
| Contributions10/11 | - | €7,709 | €7,709 | €7,709 | €7,709 | = |
| Reserves13 | €914 | - | - | - | - | - |
| Profit (loss) carried forward14 | €35,793 | €14,902 | €22,509 | €11,337 | €97,939 | ▲ 764% |
| Amounts payable17/49 | €935 | €3,545 | €69,946 | €460,712 | €556,992 | ▲ 20.9% |
| Amounts payable after more than one year17 | - | - | €65,000 | €404,251 | €99,300 | ▼ 75.4% |
| Financial debts170/4 | - | - | €65,000 | €404,251 | €99,300 | ▼ 75.4% |
| Amounts payable within one year42/48 | €935 | €3,045 | €3,881 | €55,511 | €453,431 | ▲ 717% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €320,000 | - |
| Financial debts43 | - | - | - | - | €91,261 | - |
| Credit institutions430/8 | - | - | - | - | €91,261 | - |
| Trade debts44 | €0 | €3,045 | €897 | €45,561 | - | - |
| Suppliers440/4 | - | €2,198 | €897 | €45,561 | - | - |
| Bills of exchange payable441 | - | €847 | - | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | - | €23,489 | - |
| Taxes450/3 | - | - | - | - | €23,489 | - |
| Other amounts payable47/48 | - | - | €2,984 | €9,950 | €18,681 | ▲ 87.7% |
| Accrued charges and deferred income492/3 | - | €500 | €1,065 | €950 | €4,261 | ▲ 349% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€2,433 | -€22,061 | €7,607 | -€11,172 | €86,602 | ▲ 875% |
| + Depreciation and write-downs630 | - | - | - | - | €1,310 | - |
| Operating cash flow (approximation) | -€2,433 | -€22,061 | €7,607 | -€11,172 | €87,912 | ▲ 887% |
| Change in cash | - | €1 | €16,575 | -€13,057 | €2,672 | ▲ 120% |
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
2026
23-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 176 days late
2025
27-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 300 days late
2024
31-12
Financial
Back to profitnet €86,602
Net result €86,602 after one loss-making year.
31-12
Financial
Equity above €100,000Eq €105,648 ▲455%
Equity rises from €19,046 to €105,648.
2023
03-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Back to profitnet €7,607
Net result €7,607 after 3 loss-making years.
31-12
Financial
Liquidity triplescurrent ratio 25.81
Current ratio from 8.59 to 25.81.
19-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 80 days late
2021
31-12
Financial
Weakest financial yearnet -€22,061
Net result drops to -€22,061, the lowest in the series; recovery starts the following year.
14-12
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 136 days late
2020
21-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 82 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
Show earlier events
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 30 days late
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 30 days late
2016
05-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 5 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
7 acts for this company are 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, Evere · 1 establishment unit since 1991
Ground area
9,202 m²
Building footprint
901 m²
Volume, LiDAR
13,809 m³
2 parcels, Brussels, Wallonia · tallest building 22.9 m, ±7 floors. Linked by address, not a title deed.
128
companies at this address
See who is registered here
1 establishment unit
Rue des Aubes 3, 4680 Oupeye
since 19912.055.450.091
2 parcels
Wallonia
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21006A0199/00T007 | Brussels | 8,547 m² | 1 · 735 m² | 22.9 m · 7 fl. |
| 62079A0685/00E000 | Wallonia | 655 m² | 1 · 166 m² | 5.1 m · 1 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 4,269 companies in sector 43230 we hold annual accounts for 1,239. 1,046 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
Founded01-10-1991
Fiscal year end31-12
Activities, NACEBEL 2025
43230Insulation installation
41003General construction of other non-residential buildings
68122Development of non-residential building projects
E-invoicing
Reachable via Peppol
Peppol ID
0208:0445334324
Registered
23-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.