MODIFROID
ActiveSummary
MODIFROID has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €603,633 and a net result of €2,506. Equity is growing by ~2.7% per year across the filed fiscal years. Its solvency ranks better than 69% of 514 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability69▲+40
Solvency94▲+8
Growth52=
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €40,000 at 30 days acceptable
Liquidity ample (current ratio 3.32 against 2.57 in 2023; short-term debt: 24.3% and cash: 3.4% of total assets), and 30.7% of the assets are financed with debt.
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Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 03-10-2025, 64 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 · 10 filingsDeviation from the deadline
2025
not confirmed
2024
64 d late
2023
91 d late
2022
210 d late
2021
78 d late
2020
89 d late
2019
122 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 109 days after the deadline; the sector median for financial year 2024 is 11 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€2,506
2023 · -€37,955
Working capital
€491,571▲ 0.9%
2023 · €486,992
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result-€7,207€64,710€98,373▲ 52.0%-€33,326€7,570
Net result-€18,510€37,938€69,342▲ 82.8%-€37,955€2,506
Equity€531,802▼ 3.4%€569,740▲ 7.1%€639,082▲ 12.2%€601,127▼ 5.9%€603,633▲ 0.4%
Total assets€860,803▼ 22.9%€811,802▼ 5.7%€1.0m▲ 26.1%€993,594▼ 3.0%€870,431▼ 12.4%
Debt€329,000▼ 41.8%€242,062▼ 26.4%€384,854▲ 59.0%€392,466▲ 2.0%€266,798▼ 32.0%
Working capital€478,287▼ 2.5%€502,899▲ 5.1%€556,849▲ 10.7%€486,992▼ 12.5%€491,571▲ 0.9%
Staff (FTE)4=4.9▲ 22.5%4.6▼ 6.1%4.1▼ 10.9%4.1=
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2024: €7,570 after a loss of €33,326 in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €870,431
Fixed assets
€166,918 ▼ 15.2%
Current assets
€703,514 ▼ 11.7%
Equity and liabilities €870,431
Equity
€603,633 ▲ 0.4%
Debt
€266,798 ▼ 32.0%
Debt's share of the balance-sheet total falls from 39.5% to 30.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€50,237▲
2023 · €8,542
Cash flow
€45,173▲
2023 · €3,913
Current ratio
3.32▲
2023 · 2.57
Quick ratio
2.86▲
2023 · 2.34
Debt to equity
0.44▼
2023 · 0.65
ROE
0.4%▲
2023 · -6.3%
ROA
0.3%▲
2023 · -3.8%
Interest coverage
11.50▲
2023 · 1.84
Debt ≤ 1 year
€211,943▼
2023 · €309,741
Debt > 1 year
€54,855▼
2023 · €82,725
Income taxes
€1,222
Staff costs
€196,657▼
2023 · €221,132
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €220,807 | €208,149 | €221,132 | €196,657 | ▼ 11.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €11,788 | €9,977 | €21,534 | €41,868 | €42,667 | ▲ 1.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | -€14,070 | - | - | - | - |
| Other operating charges640/8 | - | €28,490 | €6,865 | €12,969 | €16,826 | ▲ 29.7% |
| Gross operating margin9900 | €252,213 | €309,915 | €334,922 | €242,643 | €263,720 | ▲ 8.7% |
| Operating profit (loss)9901 | -€7,207 | €64,710 | €98,373 | -€33,326 | €7,570 | ▲ 123% |
| Financial income75/76B | - | €0 | €17 | €3 | €525 | ▲ 15,865% |
| Recurring financial income75 | €1,247 | €0 | €17 | €3 | €525 | ▲ 15,865% |
| Financial charges65/66B | - | €1,613 | €3,095 | €4,633 | €4,367 | ▼ 5.7% |
| Recurring financial charges65 | €5,392 | €1,613 | €3,095 | €4,633 | €4,367 | ▼ 5.7% |
| Profit (loss) for the period before taxes9903 | -€11,352 | €63,097 | €95,295 | -€37,955 | €3,729 | ▲ 110% |
| Income taxes67/77 | €7,159 | €25,159 | €25,953 | - | €1,222 | - |
| Profit (loss) for the period9904 | -€18,510 | €37,938 | €69,342 | -€37,955 | €2,506 | ▲ 107% |
| Transfer from tax-exempt reserves789 | - | €42,556 | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | -€11,067 | €80,494 | €69,342 | -€37,955 | €2,506 | ▲ 107% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €860,803 | €811,802 | €1.0m | €993,594 | €870,431 | ▼ 12.4% |
| Fixed assets21/28 | €67,187 | €73,961 | €115,319 | €196,860 | €166,918 | ▼ 15.2% |
| Intangible fixed assets21 | - | - | - | - | €3,834 | - |
| Tangible fixed assets22/27 | €67,187 | €73,961 | €115,319 | €196,860 | €163,083 | ▼ 17.2% |
| Land and buildings22 | - | €56,000 | €52,139 | €59,295 | €55,711 | ▼ 6.0% |
| Plant, machinery and equipment23 | - | €12,039 | €17,787 | €11,414 | €6,587 | ▼ 42.3% |
| Furniture and vehicles24 | - | €5,922 | €45,394 | €126,151 | €100,785 | ▼ 20.1% |
| Current assets29/58 | €793,616 | €737,841 | €908,617 | €796,733 | €703,514 | ▼ 11.7% |
| Stocks and contracts in progress3 | €62,394 | €50,853 | €45,853 | €71,832 | €97,611 | ▲ 35.9% |
| Stocks30/36 | - | €50,853 | €45,853 | €71,832 | €97,611 | ▲ 35.9% |
| Amounts receivable within one year40/41 | €553,235 | €650,769 | €705,192 | €601,080 | €575,286 | ▼ 4.3% |
| Trade receivables40 | - | €650,714 | €705,192 | €597,039 | €512,708 | ▼ 14.1% |
| Other amounts receivable41 | - | €55 | - | €4,041 | €62,578 | ▲ 1,449% |
| Cash at bank and in hand54/58 | €143,416 | €29,299 | €138,023 | €103,935 | €29,561 | ▼ 71.6% |
| Deferred charges and accrued income490/1 | - | €6,920 | €19,549 | €19,887 | €1,055 | ▼ 94.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €860,803 | €811,802 | €1.0m | €993,594 | €870,431 | ▼ 12.4% |
| Equity10/15 | €531,802 | €569,740 | €639,082 | €601,127 | €603,633 | ▲ 0.4% |
| Contributions10/11 | - | €346,556 | €346,556 | €346,556 | €346,556 | = |
| Reserves13 | €118,936 | €156,865 | €226,207 | €226,207 | €257,078 | ▲ 13.6% |
| Non-distributable reserves130/1 | - | €3,825 | €3,825 | €3,825 | €3,825 | = |
| Reserves not available under the articles1311 | - | €3,825 | €3,825 | €3,825 | - | - |
| Other1319 | - | - | - | - | €3,825 | - |
| Distributable reserves133 | - | €153,040 | €222,382 | €222,382 | €253,253 | ▲ 13.9% |
| Profit (loss) carried forward14 | €66,310 | €66,319 | €66,319 | €28,364 | - | - |
| Amounts payable17/49 | €329,000 | €242,062 | €384,854 | €392,466 | €266,798 | ▼ 32.0% |
| Amounts payable after more than one year17 | €11,528 | €5,811 | €33,086 | €82,725 | €54,855 | ▼ 33.7% |
| Financial debts170/4 | - | €5,811 | €33,086 | €82,725 | €54,855 | ▼ 33.7% |
| Amounts payable within one year42/48 | €315,328 | €234,942 | €351,768 | €309,741 | €211,943 | ▼ 31.6% |
| Current portion of amounts payable after more than one year42 | - | €5,718 | €15,796 | €25,365 | €25,044 | ▼ 1.3% |
| Financial debts43 | - | - | - | - | €51 | - |
| Credit institutions430/8 | - | - | - | - | €51 | - |
| Trade debts44 | €118,860 | €89,406 | €189,502 | €85,596 | €85,467 | ▼ 0.2% |
| Suppliers440/4 | - | €89,406 | €189,502 | €85,596 | €85,467 | ▼ 0.2% |
| Taxes, remuneration and social security45 | - | €109,788 | €137,948 | €169,639 | €101,380 | ▼ 40.2% |
| Taxes450/3 | - | €81,937 | €111,572 | €133,692 | €74,193 | ▼ 44.5% |
| Remuneration and social security454/9 | - | €27,852 | €26,376 | €35,947 | €27,187 | ▼ 24.4% |
| Other amounts payable47/48 | - | €30,029 | €8,522 | €29,142 | - | - |
| Accrued charges and deferred income492/3 | - | €1,310 | - | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€18,510 | €37,938 | €69,342 | -€37,955 | €2,506 | ▲ 107% |
| + Depreciation and write-downs630 | €11,788 | €9,977 | €21,534 | €41,868 | €42,667 | ▲ 1.9% |
| Operating cash flow (approximation) | -€6,722 | €47,915 | €90,876 | €3,913 | €45,173 | ▲ 1,054% |
| Investment in fixed assets (approximation) | - | -€16,752 | -€62,892 | -€123,409 | -€12,724 | ▲ 89.7% |
| Change in cash | - | -€114,117 | €108,724 | -€34,088 | -€74,374 | ▼ 118% |
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
2025
03-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 64 days late
2024
31-12
Financial
Back to profitnet €2,506
Net result €2,506 after one loss-making year.
30-10
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 91 days late
26-02
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 210 days late
2023
31-12
Financial
Weakest financial yearnet -€37,955
Net result drops to -€37,955, the lowest in the series; recovery starts the following year.
2022
31-12
Financial
Highest result since 2018net €69,342 ▲82.8%
Operating result €98,373, net result €69,342, both a record.
17-10
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 78 days late
2021
31-12
Financial
Back to profitnet €37,938
Net result €37,938 after one loss-making year.
28-10
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 89 days late
2020
30-11
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 122 days late
13-03
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 226 days late
2018
16-10
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 77 days late
2017
01-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 1 day late
2016
29-09
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 60 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Courcelles · 1 establishment unit since 2000
Ground area
5,604 m²
Building footprint
671 m²
Volume, LiDAR
3,963 m³
Parcel 52322A0144/00G002, Wallonia · tallest building 7.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
MODIFROID
since 20002.094.858.322
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 52322A0144/00G002 | Wallonia | 5,604 m² | 1 · 671 m² | 7.0 m · 2 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.
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Of 461 companies in sector 28250 we hold annual accounts for 286. 222 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
Founded14-09-1999
Fiscal year end31-12
Activities, NACEBEL 2025
28250Manufacture of machinery and equipment not elsewhere classified
95313Repair and fitting of specific motor vehicle parts
29201Manufacture of motor vehicles, trailers and semi-trailers
Scores and ratios are computed by Checked and are not a credit decision.