MM Develop II
ActiveFrom the official registers: KBO 1 annual account at the National Bank publications in the Belgian Official Gazette
Summary
MM Develop II has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€71,725) and a net result of -€133,225. Its solvency ranks better than 13% of 5,789 sector peers (NACE 68, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Overview
Overview
Official details
KBO- Status
- Active since 27-08-2024 Normal situation
- Registered office
- 13 active companies are registered at this address 1 started in the 12 months before. Source: KBO register, as of 1 November 2026.
- Activity
- Development of residential building projects NACE 68121and 2 others
- Establishment unit
- 2.363.842.587 9850 Deinze, since 27-08-2024
- Financial year end
- 31 December
- Peppol
- Reachable since 25-08-2025
Board and ownership
- BMH MESTDAGHDirector · since 26-08-2024 · permanent representative MESTDAGH Bruno
- DEMUYNCK DavyDirector · since 26-08-2024
- PROSPECTUMDirector · since 26-08-2024 · permanent representative MERVIELDE Kevin
- VANFLETEREN KristofDirector · since 26-08-2024
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.1%
- Gross margin
- -€129,229
- Loss
- €133,225
- Equity
- -€71,725
- Total assets
- €11.6m
Score breakdownraises riskCapped at 59: negative equityNegative equity -€71,725lowers riskSize: total assets €11.6mSector: Real estate activities (NACE 68)Figures for financial year 2025 (filed on 28-04-2026)Show the evidence
Checked score
Fewer than 1 in 1,000 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 68, medium-sized). It does better than 12% of them on solvency, 8% on liquidity and 32% on profitability.
The bankruptcy probability was computed on 31-10-2026 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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Signals
Searched, nothing found (1)
Financials
Financials · financial year 2025, full format
Annual accounts 2025 filed on 28-04-2026 at the NBB
Comparable companies
These companies have the same main activity as MM Develop II: development of residential building projects (NACE 68121). They are comparable in size and age: total assets between €3.7m and €11m, founded between 2022 and 2024.
| Company | Founded | Total assets | Equity | Gross margin | Net result | FTE | Financial year |
|---|---|---|---|---|---|---|---|
| MM Develop II Deinze | 2024 | €11.6m | -€0.07m | -€0.1m | -€0.1m | 0 | 2025 |
| DECOVEMA Hasselt | 2024 | €9.2m | -€0.01m | -€0.002m | -€0.07m | 0 | 2025 |
| Botanica Sint-Truiden | 2022 | €11.1m | -€0.07m | -€88 | -€0.07m | 0 | 2025 |
| J.W.W. Kalmthout | 2024 | €3.7m | €0.04m | -€77 | -€0.01m | 0 | 2025 |
| ARROM CONSTRUCT Ukkel | 2022 | €6.6m | -€0.08m | -€0.03m | -€0.02m | 0 | 2025 |
| BELYSIUM Lummen | 2023 | €4.4m | €0.001m | -€0.001m | -€0.002m | 0 | 2025 |
| BIB Project Waregem | 2022 | €3.9m | €0.04m | -€0.02m | -€0.02m | 0 | 2024 |
They were chosen from the 7,757 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 observationIn July 2024, 473 companies had the same profile as MM Develop II has now. Two years later, 1.5% had gone bankrupt and 95.3% were still going.
- Medium-sized
- negative equity
- a small loss
- without age
Another 0.4% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of MM Develop II itself is lower: 0.1% within 12 months. It rests on far more data about MM Develop II 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.
| 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 473 companies, not a prediction for MM Develop II. 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.
| Line | 2025 |
|---|---|
| Other operating charges640/8 | €837 |
| Gross operating margin9900 | -€129,229 |
| Operating profit (loss)9901 | -€130,066 |
| Financial income75/76B | €64,680 |
| Recurring financial income75 | €64,680 |
| Financial charges65/66B | €67,839 |
| Recurring financial charges65 | €67,839 |
| Profit (loss) for the period before taxes9903 | -€133,225 |
| Profit (loss) for the period9904 | -€133,225 |
| Profit (loss) for the period to be appropriated9905 | -€133,225 |
| Line | 2025 | |
|---|---|---|
| Assets | ||
| Total assets20/58 | €11.6m | |
| Current assets29/58 | €11.6m | |
| Stocks and contracts in progress3 | €6.7m | |
| Stocks30/36 | €6.7m | |
| Amounts receivable within one year40/41 | €4.0m | |
| Trade receivables40 | €0.6m | |
| Other amounts receivable41 | €3.4m | |
| Cash at bank and in hand54/58 | €0.8m | |
| Deferred charges and accrued income490/1 | €0.06m | |
| Equity and liabilities | ||
| Total equity and liabilities10/49 | €11.6m | |
| Equity10/15 | -€0.07m | |
| Contributions10/11 | €0.06m | |
| Capital10 | €0.06m | |
| Issued capital100 | €0.06m | |
| Profit (loss) carried forward14 | -€0.1m | |
| Amounts payable17/49 | €11.7m | |
| Amounts payable after more than one year17 | €0.3m | |
| Financial debts170/4 | €0.3m | |
| Amounts payable within one year42/48 | €11.3m | |
| Financial debts43 | €2.8m | |
| Credit institutions430/8 | €2.8m | |
| Trade debts44 | €0.6m | |
| Suppliers440/4 | €0.6m | |
| Advances received on contracts in progress46 | €7.3m | |
| Taxes, remuneration and social security45 | €0.6m | |
| Taxes450/3 | €0.6m | |
| Accrued charges and deferred income492/3 | €0.03m | |
| Line | 2025 |
|---|---|
| Profit (loss) for the period9904 | -€133,225 |
| Operating cash flow (approximation) | -€133,225 |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Filings with the National Bank (1)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 28-04-2026 | 2026-00090372 | NBB |
Board & ownership
Directors
Board 4
Permanent representatives 2
Owners and capital
Shareholders
1 ownerChain of control
- MM Estate Group
- MM Develop II
Owners 1
- MM Estate Groupparent100%
Capital transactions
- MM ESTATE GROUP (BE 0775.311.003) 1,000 shares (100%) · €61,500 in cash
- 29-08-2024 Incorporation · €61,500 · 1,000 shares
Mandate history
- Board
| Name | Functions and periods |
|---|---|
| BMH MESTDAGH |
|
| DEMUYNCK Davy |
|
| PROSPECTUM |
|
| VANFLETEREN Kristof |
|
Articles of association
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “Hoogstens zes jaar, 4”“De algemene vergadering kan het mandaat van elke bestuurder te allen tijde en zonder opgave van redenen met onmiddellijke ingang beëindigen…”“Wanneer de plaats van een bestuurder openvalt vóór het einde van zijn mandaat, heeft enkel de algemene vergadering het recht een nieuwe…”“De raad van bestuur is bevoegd om alle handelingen te verrichten die nodig of dienstig zijn tot verwezenlijking van het voorwerp van de…”
- Profit allocationThe articles set how profit is distributed. A BV may only pay out after a balance-sheet and liquidity test.
- “De verplichting herleeft indien de wettelijke reserve wordt aangesproken, tot het reservefonds opnieuw één tiende van het kapitaal van de…”“Gewone meerderheid van stemmen, enige bestuurder”
Articles of association, deed of 29-08-2024 (in Dutch)
Network & group
Connections & network
4 current directorsThe network starts from the directors of MM Develop II. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
29-08
Gazette deed
IncorporationAppointments: BMH MESTDAGH, PROSPECTUM and 2 others · Permanent representatives: MESTDAGH Bruno and MERVIELDE Kevin · Founder11 points ▸
- Incorporation, 26-08-2024
- Founder, MM ESTATE GROUP
- Capital, €61,500
- Founding capital, €61,500
- Registered office clause, “Veldestraat 140A, 9850 Deinze (Merendree)” (deed in Dutch)
- Director appointment, BMH MESTDAGH (director)
- Permanent representative, MESTDAGH Bruno
- Director appointment, PROSPECTUM (director)
- Permanent representative, MERVIELDE Kevin
- Director appointment, VANFLETEREN Kristof (director)
- Director appointment, DEMUYNCK Davy (director)
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 202512 activities
- De aankoop, ontwikkeling, verkoop en beheer van onroerende goederen
- De studie, het ontwerpen, ontwikkelen, promoten en begeleiden van vastgoedprojecten allerhande
- Het, zowel voor eigen rekening als voor rekening van derden, stellen van allerhande verrichtingen die rechtstreeks of onrechtstreeks betrekking hebben op het verwerven, vervreemden, ruilen, bouwen, verbouwen, herbouwen, afbreken, veranderen, uitbaten, beleggen in, beheren, huren, verhuren, renoveren, herbestemmen, verkavelen, productief maken, van alle types onroerende goederen, hierna opgesomd maar niet beperkt tot, gronden, woningen, villa’s, hoeves, appartementen, lofts, studentenkamers, logistieke panden, industriële panden, semi-industriële panden, stadswinkels, baanwinkels, alle soorten retail panden, horeca en vrijetijds panden, cafés, restaurants, luxevastgoed, kantoren, chalets, winkelcentra, parkings, garages, infrastructuur, enzovoort en aanverwante goederen voor eigen rekening, voor rekening van derden of in onderlinge samenwerking met derden
- Alle mogelijke operaties van onroerende aard, met inbegrip van huurfinanciering, (onroerende) leasing, erfpacht, recht van opstal, vruchtgebruik, verkoop, inbreng, projectontwikkeling, mijnbouw, bosbouw-verrichtingen, grote infrastructuurwerken, olie en natuurlijke rijkdommen, schepen enzovoort, alsmede alle handel in verband met deze activiteiten
- Het uitbaten van een algemene bouwonderneming beperkt tot de coördinatie van voormelde projecten, waaronder het laten bouwen, verbouwen, renoveren, opschikken, uitrusten, ombouwen en verfraaien van alle gebouwen
- Het optreden als aannemer in vastgoedprojecten allerhande
- De coördinatie van de werkzaamheden behorende tot de meest verschillende vakgroepen die bij het oprichten of slopen van gebouwen of bij hun herstelling of uitrusting tussenkomen
- De realisatie, commercialisering, deelname, ontwikkeling en de medewerking in de meest ruime zin van het woord aan eender welke projecten waarin vastgoed of onroerende zakelijke rechten begrepen zit
- Het optreden als raadgever inzake administratief beheer en serviceverlening
- Het verstrekken van advies en bijstand, zowel technisch als administratief en commercieel, aan alle vennootschappen en ondernemingen voor alle mogelijke aangelegenheden met betrekking tot de sector van onroerende goederen
- Het verwerven van alle mogelijk terreinen, het bouwen van openbare en particuliere gebouwen, de aankoop, de verkoop, de verhuur, de verdeling, de verkaveling van alle mogelijke onroerende goederen
- Het aangaan van hypothecaire kredietopeningen, leningen, hypothecaire volmachten of mandaten of om het even welke kredietvorm of lening, al dan niet met hypotheek-stelling of inpandgevingen, doorhalingen van hypotheek of pand
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 1012.828.072
Financial year and general meeting
Accounts at the NBBSites & property
1 establishment unit
Buildings and parcels at the address
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 44044A0935/00N000 | Flanders | 1,519 m² | 1 · 180 m² | 6.6 m · 1 |