ML WINDOWS
ActiveSummary
ML WINDOWS has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3,206 and a net result of €41. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 8% of 7930 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability35▼-9
Solvency26=
Growth32=
Track record100
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
No publishable credit limit; credit only on tighter terms
Liquidity tight (current ratio 1.42 against 1.45 in 2024; short-term debt: 69.7% and cash: 1% of total assets), and 99% 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○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 · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
1%
Return on assets
0%
Age of the figures
9 mo
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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 8% of 7930 sector peers (2025).
NBB · sector comparisonPosition among 7930 sector peers
Solvency
better than 8%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 07-09-2026, 38 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 8 filingsDeviation from the deadline
2025
38 d late
2024
35 d late
2023
92 d late
2022
87 d late
2021
43 d late
2020
87 d late
2019
55 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 62 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 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 12 September (4 of the last 5 filed years within 44 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€41▼ 99.8%
2024 · €16,974
Working capital
€91,187▼ 10.5%
2024 · €101,909
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
Line20212022202320242025
Operating result€34,227▼ 5.9%-€5,057-€59,999▼ 1,087%€34,901€4,350▼ 87.5%
Net result€16,391within the sector's middle half▼ 23.2%-€27,082below the sector's middle half-€68,665below the sector's middle half▼ 154%€16,974within the sector's middle half€41below the sector's middle half▼ 99.8%
Equity€81,937within the sector's middle half▲ 25.0%€54,856below the sector's middle half▼ 33.1%-€13,809below the sector's middle half€3,165below the sector's middle half€3,206below the sector's middle half▲ 1.3%
Total assets€436,453within the sector's middle half▲ 24.3%€557,278within the sector's middle half▲ 27.7%€298,764within the sector's middle half▼ 46.4%€336,192within the sector's middle half▲ 12.5%€309,413within the sector's middle half▼ 8.0%
Debt€354,516▲ 24.2%€502,423▲ 41.7%€312,573▼ 37.8%€333,027▲ 6.5%€306,207▼ 8.1%
Working capital€72,513within the sector's middle half▲ 4.5%€136,327within the sector's middle half▲ 88.0%€98,084within the sector's middle half▼ 28.1%€101,909within the sector's middle half▲ 3.9%€91,187within the sector's middle half▼ 10.5%
Solvency18.8%below the sector's middle half▲ 0.1pp9.8%below the sector's middle half▼ 8.9pp-4.6%below the sector's middle half▼ 14.5pp0.9%below the sector's middle half▲ 5.6pp1.0%below the sector's middle half▲ 0.1pp
Current ratio1.27within the sector's middle half▼ 0.171.38within the sector's middle half▲ 0.111.52within the sector's middle half▲ 0.141.45within the sector's middle half▼ 0.071.42within the sector's middle half▼ 0.02
Return on assets (ROA)3.8%within the sector's middle half▼ 2.3pp-4.9%below the sector's middle half▼ 8.6pp-23.0%below the sector's middle half▼ 18.1pp5.0%within the sector's middle half▲ 28.0pp0.0%below the sector's middle half▼ 5.0pp
Staff (FTE)2below the sector's middle half▲ 81.8%1.8below the sector's middle half▼ 10.0%0.9below the sector's middle half▼ 50.0%
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 falls in 2025; 2025 is 88% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €309,413
Fixed assets
€2,671 ▼ 57.7%
Current assets
€306,742 ▼ 7.0%
Equity and liabilities €309,413
Equity
€3,206 ▲ 1.3%
Debt
€306,207 ▼ 8.1%
Debt's share of the balance-sheet total falls from 99.1% to 99.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€8,650▼
2024 · €41,750
Cash flow
€4,341▼
2024 · €23,824
Quick ratio
1.34▲
2024 · 1.33
Debt to equity
95.50
ROE
1.3%▼
2024 · 536.3%
Interest coverage
2.01▼
2024 · 2.33
Debt ≤ 1 year
€215,555▼
2024 · €227,965
Debt > 1 year
€90,651▼
2024 · €105,062
Staff costs
€241▲
2024 · -€202
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,250 companies that looked in July 2024 the way this one looks now, 2.4% went bankrupt within 24 months and 94% are still going.
- Micro
- 5 to 10 years old
- solvency under 10%
- a profit under 5% of the balance sheet
2.4%
went bankrupt
2.6%
stopped otherwise
94%
still going
A further 0.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.2% over twelve months; the group does not contradict it.
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 1,250 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €83,807 | €78,457 | €19,973 | -€202 | €241 | ▲ 219% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €37,135 | €18,864 | €12,654 | €6,849 | €4,300 | ▼ 37.2% |
| Other operating charges640/8 | €7,222 | €9,742 | €16,734 | €475 | €235 | ▼ 50.6% |
| Non-recurring operating charges66A | €2,493 | - | €787 | - | - | - |
| Gross operating margin9900 | €164,884 | €102,006 | -€9,851 | €42,023 | €9,126 | ▼ 78.3% |
| Operating profit (loss)9901 | €34,227 | -€5,057 | -€59,999 | €34,901 | €4,350 | ▼ 87.5% |
| Financial income75/76B | €494 | €34 | €2,331 | €0 | - | - |
| Recurring financial income75 | €494 | €34 | €2,331 | €0 | - | - |
| Financial charges65/66B | €11,851 | €22,059 | €7,195 | €17,927 | €4,309 | ▼ 76.0% |
| Recurring financial charges65 | €11,851 | €22,059 | €7,195 | €17,927 | €4,309 | ▼ 76.0% |
| Profit (loss) for the period before taxes9903 | €22,871 | -€27,082 | -€64,863 | €16,974 | €41 | ▼ 99.8% |
| Income taxes67/77 | €6,480 | - | €3,802 | - | - | - |
| Profit (loss) for the period9904 | €16,391 | -€27,082 | -€68,665 | €16,974 | €41 | ▼ 99.8% |
| Profit (loss) for the period to be appropriated9905 | €16,391 | -€27,082 | -€68,665 | €16,974 | €41 | ▼ 99.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €436,453 | €557,278 | €298,764 | €336,192 | €309,413 | ▼ 8.0% |
| Fixed assets21/28 | €93,713 | €63,600 | €11,657 | €6,318 | €2,671 | ▼ 57.7% |
| Tangible fixed assets22/27 | €93,713 | €63,600 | €11,657 | €6,318 | €2,671 | ▼ 57.7% |
| Plant, machinery and equipment23 | €66,702 | €58,446 | €8,585 | €3,719 | €1,463 | ▼ 60.7% |
| Furniture and vehicles24 | €22,373 | €5,154 | €3,072 | €2,599 | €1,208 | ▼ 53.5% |
| Leasing and similar rights25 | €4,638 | - | - | - | - | - |
| Current assets29/58 | €342,740 | €493,678 | €287,107 | €329,874 | €306,742 | ▼ 7.0% |
| Stocks and contracts in progress3 | €6,267 | €18,000 | €31,800 | €26,000 | €18,860 | ▼ 27.5% |
| Stocks30/36 | €6,267 | €18,000 | €31,800 | €26,000 | €18,860 | ▼ 27.5% |
| Amounts receivable within one year40/41 | €309,205 | €456,764 | €247,468 | €261,554 | €258,277 | ▼ 1.3% |
| Trade receivables40 | €296,153 | €434,762 | €242,667 | €256,754 | €258,277 | ▲ 0.6% |
| Other amounts receivable41 | €13,053 | €22,002 | €4,800 | €4,800 | - | - |
| Cash at bank and in hand54/58 | €27,268 | €18,914 | €7,839 | €11,261 | €3,215 | ▼ 71.4% |
| Deferred charges and accrued income490/1 | - | - | - | €31,059 | €26,390 | ▼ 15.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €436,453 | €557,278 | €298,764 | €336,192 | €309,413 | ▼ 8.0% |
| Equity10/15 | €81,937 | €54,856 | -€13,809 | €3,165 | €3,206 | ▲ 1.3% |
| Contributions10/11 | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €67,677 | €40,596 | -€28,069 | -€11,095 | -€11,054 | ▲ 0.4% |
| Amounts payable17/49 | €354,516 | €502,423 | €312,573 | €333,027 | €306,207 | ▼ 8.1% |
| Amounts payable after more than one year17 | €84,289 | €145,071 | €123,550 | €105,062 | €90,651 | ▼ 13.7% |
| Financial debts170/4 | €84,289 | €145,071 | €123,550 | €105,062 | €90,651 | ▼ 13.7% |
| Amounts payable within one year42/48 | €270,227 | €357,351 | €189,023 | €227,965 | €215,555 | ▼ 5.4% |
| Current portion of amounts payable after more than one year42 | €53,318 | €34,180 | €25,523 | €19,110 | €15,032 | ▼ 21.3% |
| Trade debts44 | €134,964 | €192,563 | €33,612 | €66,284 | - | - |
| Suppliers440/4 | €134,964 | €192,563 | €33,612 | €66,284 | - | - |
| Taxes, remuneration and social security45 | €12,376 | €91,039 | €73,504 | €74,643 | €68,878 | ▼ 7.7% |
| Taxes450/3 | €6,981 | €82,493 | €73,504 | €74,643 | €68,878 | ▼ 7.7% |
| Remuneration and social security454/9 | €5,396 | €8,545 | - | - | - | - |
| Other amounts payable47/48 | €69,569 | €39,569 | €56,384 | €67,928 | €131,645 | ▲ 93.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €16,391 | -€27,082 | -€68,665 | €16,974 | €41 | ▼ 99.8% |
| + Depreciation and write-downs630 | €37,135 | €18,864 | €12,654 | €6,849 | €4,300 | ▼ 37.2% |
| Operating cash flow (approximation) | €53,526 | -€8,217 | -€56,011 | €23,824 | €4,341 | ▼ 81.8% |
| Investment in fixed assets (approximation) | - | €11,248 | €39,290 | -€1,511 | -€653 | ▲ 56.8% |
| Change in cash | - | -€8,354 | -€11,075 | €3,421 | -€8,046 | ▼ 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
2026
10-09
State Gazette act
Resignation: Menmadala Laetitia (director)Director discharge3 facts ▸
State Gazette act
Resignation: Menmadala Laetitia (director)
Director discharge3 facts ▸
- General meeting, 02-03-2026
- Director resignation, Menmadala Laetitia (director)
- Director discharge, Menmadala Laetitia
07-09
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 38 days late
2025
04-09
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 35 days late
2024
31-12
Financial
Back to profitnet €16,974
Net result €16,974 after 2 loss-making years.
31-10
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 92 days late
2023
31-12
Financial
Weakest financial yearnet -€68,665
Net result drops to -€68,665, the lowest in the series; recovery starts the following year.
26-10
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 87 days late
2022
12-09
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 43 days late
2021
26-10
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 87 days late
2020
31-12
Financial
Highest result since 2018net €21,341 ▲46.6%
Operating result €36,370, net result €21,341, both a record.
24-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 55 days late
2019
23-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 23 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 4 acts read
About the unread acts
Of the 4 Belgian State Gazette acts we know for this company, 1 has been read. The other 3 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
no sitting director, last change in 2026
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
Not every act has been read: a resignation may be missing here
3 of this company's 4 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Mouscron · 1 establishment unit since 2018
Ground area
4.8 ha
Building footprint
321 m²
Volume, LiDAR
4,679 m³
2 parcels, Wallonia · tallest building 6.5 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
ML WINDOWS
since 20182.274.971.682
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 57028A0489/00F000 | Wallonia | 4.7 ha | 1 · 217 m² | 6.5 m · 2 fl. |
| 54004K0837/00B000 | Wallonia | 1,007 m² | 1 · 104 m² | - |
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.
Mandate history
1 person since 2026, 0 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| MENMADALA Laetitia |
|
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Of 20,025 companies in sector 43320 we hold annual accounts for 9,138. 2,223 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
Founded25-01-2018
Fiscal year end31-12
Activities, NACEBEL 2025
43320Joinery installation
E-invoicing
Reachable via Peppol
Peppol ID
0208:0688893109
Also
9925:BE0688893109
Registered
27-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.