Turnover
≈ €53,000 estimated
The micro format states no turnover.
MORASU
Overview
Lifetime
2 annual accounts with figures on one time axispeak €9,688 (2024)
€4,374▼ 54.8%
peak €7,326 (2024)
€2,622▼ 64.2%
peak €3,622 (2025)
€3,622▲ 262%
€11,459▼ 2.7%
Board2 names since 2024
1 directorDe Smedt Marnik
Documentsfilings and deeds
27-08-202627 days late
2025micro format
Gross margin from €9,688 to €4,374Result from €7,326 to €2,622Registered office moved from Mechelen to Zoersel 10-09Equity from €1,000 to €3,622Cash from €2,252 to €15,081
Key points
from the 2025 annual accountsDebts
€11,459 76% of the balance sheet
Suppliers 5%Taxes and wages 54%Other 41%
Position in the sector
€3,622
Less equity than 85% of companies in construction of buildings. Sector median €45,638 · 9,474 companies.
2025 accounts filed 27 days after the deadline
Checked score
53
Fair
Financially stronger than 63% of micro companies in construction of buildings (NACE 41)
Probability in this band: 1.5% to 4.2%
Bankruptcy probability within 12 months
2.5% Moderate
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 1.5% across 13,460 companies (NACE 41, micro).
About 3 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
07-2025: 2.3%lowest value
08-2025: 2.3%● unchanged vs 07-2025lowest value
09-2025: 2.3%● unchanged vs 08-2025
10-2025: 3.2%▲ +0.9 percentage points vs 09-2025
11-2025: 3.3%▲ +0.1 percentage points vs 10-2025
12-2025: 3.3%● unchanged vs 11-2025
01-2026: 3.3%● unchanged vs 12-2025
02-2026: 3.4%▲ +0.1 percentage points vs 01-2026
03-2026: 3.4%● unchanged vs 02-2026
04-2026: 3.9%▲ +0.5 percentage points vs 03-2026
05-2026: 4.7%▲ +0.8 percentage points vs 04-2026
06-2026: 4.8%▲ +0.1 percentage points vs 05-2026
07-2026: 5.1%▲ +0.3 percentage points vs 06-2026
08-2026: 5.8%▲ +0.7 percentage points vs 07-2026highest value
09-2026: 2.5%▼ -3.3 percentage points vs 08-2026
10-2026: 2.5%● unchanged vs 09-2026
11-2026: 2.5%● unchanged vs 10-2026
Financial strengthStrong
Score breakdown
raises risk
Founded in 2024
Sector: Construction of residential and non-residential buildings (NACE 41)
Size: total assets €15,081
lowers risk
Liquidity: current ratio 1.32, cash €15,081
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 31% of them on solvency, 64% on liquidity, 62% on profitability and 96% on growth.
The bankruptcy probability was computed on 10-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the moderate class on 30-06-2025, 2.4% went bankrupt within twelve months.
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).
Comparable companies, two years later
In July 2024, 7,976 companies had the same profile as MORASU has now. Each dot stands for 20 companies, two years later.
94.3%
were still trading
1.8%
stopped another way
3.6%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of MORASU itself: 2.5% within 12 months.
Test of the method
The method was tested on the 497,448 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 MORASU. 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.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises risk
raises risk · 2025 accounts filed 27 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 27-08-2026, 27 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 2 filingsDeviation from the deadline
2025
27 days late
2024
75 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 2 accounts on average 24 days before 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)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsWhere today falls in the filing period
11-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:1010601923
Registered office moved from Mechelen to Zoersel
New registered office: Raymond Delbekestraat 351 te 2980 Zoersel · Previous registered office: Leestsesteenweg 73 te 2800 Mechelen · Resignation: Dejaeghere Sebastian (director) · General meeting of 05-06-2025 · Gazette deed
Incorporation
Founding capital of €1,000, 100 shares · Founder: DEJAEGHERE Sebastian John · Appointment: DEJAEGHERE Sebastian John (director) · published on 25-06-2024 · Gazette deed
First establishment
Mathis Aannemingen, Raymond Delbekestraat 351, Zoersel
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| MORASU Zoersel | €15,081 | €4,374 | 24.0% | - |
| TCBT Huldenberg | €15,805 | €5,900 | 45.0% | - |
| ETS DUSSENNE PHILIPPE Mettet | €13,021 | €2,923 | 31.2% | - |
| B.I.B. CONCEPT Kraainem | €27,301 | €4,019 | 39.8% | - |
| 3 STARS CONSTRUCTION Zaventem | €19,687 | €3,014 | 33.8% | - |
| KOZELO Willebroek | €7,380 | €5,792 | 77.4% | - |
| ALGEMENE BOUWWERKEN MEEUWESE JONAS Vosselaar | €18,454 | €6,635 | 52.2% | - |
These companies have the same main activity as MORASU: general construction of other non-residential buildings (NACE 41003). They are comparable in size and age: total assets between €7,380 and €27,300, founded between 2023 and 2025.
Official details
Source: KBO- Status
- Active since 21-06-2024Normal situation
- Activity
- General construction of other non-residential buildingsNACE 41003and 5 others
- Establishment unit
- 2.360.893.7872980 Zoersel, since 21-06-2024
- Financial year end
- 31 December
- Peppol
- Reachable since 24-11-2025
Annual accounts 2025
- €4,374▼ 54.8%
- €2,622▼ 64.2%
- €3,622▲ 262%
- €15,081▲ 18.0%
- Filing
- Filed on 27-08-2026
Insights on MORASU
The computed 12-month bankruptcy probability of MORASU is 2.5% (moderate). The 2025 annual accounts show equity of €3,622 and a net result of €2,622.
Its solvency ranks better than 30% of 9,471 sector peers (NACE 41, financial year 2025). The company has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Financials
Annual accounts 2025
micro format, filed on 27-08-2026, 27 days late€4,374
▼ 54.8%
€4,121
▼ 57.2%
€2,622
▼ 64.2%
€3,622
▲ 262%
24.0%
▲ 16.2 percentage points
1.32
▲ 0.23
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €53,000. Estimated: probably between €28,000 and €99,000.
Amounts without an identifiable currency are taken as euros.
Balance sheet
balance sheet total €15,081 on 31-12-2025What the company ownsHow it is paid for
in euro
in euro
Position in the sector
24.0%
Higher than 30% of 9,471 companies in 2025.
1.32
Higher than 37% of 9,219 companies in 2025.
17.4%
Higher than 71% of 9,291 companies in 2025.
MORASU
Middle half of the sector
80% of the sector
Micro accounts in construction of buildings (NACE 41)
Net result: middle half · Equity: bottom quarter · Balance sheet total: bottom quarter · Working capital: middle half
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 |
|---|---|---|---|
| Balance sheet: assets | |||
20/58 |
15,081 | 12,780 | |
29/58 |
15,081 | 12,780 | |
40/41 |
- | 10,528 | |
41 |
- | 10,528 | |
54/58 |
15,081 | 2,252 | |
| Balance sheet: equity and liabilities | |||
10/49 |
15,081 | 12,780 | |
10/15 |
3,622 | 1,000 | |
10/11 |
1,000 | 1,000 | |
13 |
2,622 | - | |
133 |
2,622 | - | |
17/49 |
11,459 | 11,780 | |
42/48 |
11,459 | 11,780 | |
44 |
575 | 1,422 | |
440/4 |
575 | 1,422 | |
45 |
6,139 | 3,031 | |
450/3 |
6,139 | 3,031 | |
47/48 |
4,745 | 7,326 | |
| Income statement | |||
9900 |
4,374 | 9,688 | |
640/8 |
253 | 59 | |
9901 |
4,121 | 9,629 | |
75/76B |
1 | 1 | |
75 |
1 | 1 | |
65/66B |
316 | 51 | |
65 |
316 | 51 | |
9903 |
3,806 | 9,579 | |
67/77 |
1,184 | 2,252 | |
9904 |
2,622 | 7,326 | |
9905 |
2,622 | 7,326 | |
| Appropriation of the result | |||
9906 |
2,622 | 7,326 | |
691/2 |
2,622 | - | |
6921 |
2,622 | - | |
694/7 |
- | 7,326 | |
694 |
- | 7,326 | |
| Document | |||
The notes to these accounts have 1 item. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 27-08-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank2025 annual accounts filed 27 days after the deadline. Filed on 27 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00431565.
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 |
|---|---|---|---|
| 12,830 | - | ||
| 3,622 | 1,000 | ||
| 24.0% | 7.8% | ||
| 1.32 | 1.08 | ||
| 3.16 | 11.78 | ||
| 72.4% | 732.6% | ||
| 17.4% | 57.3% |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Insights on MORASU
The operating result for 2025 is 57% lower than in 2024.
Debt's share of the balance-sheet total falls from 92.2% to 76.0%. Equity is higher and debt is lower.
Board & ownership
Board
1 director, no change since 2025- Signing authorityThe articles say who may bind the company, for example by signing a contract.
- Each director alonedeed of 25-06-2024
Mandates through the years
2 names, the dashed line is todayDe Smedt Marnik
Director
Director
DEJAEGHERE Sebastian John
Director
Director
BoardEarlier
Mandates as a list
- De Smedt Marnik
- Director, from 05-06-2025 to date
- DEJAEGHERE Sebastian John
- Director, from 19-06-2024 to 10-09-2025
Control
Capital
- Contribution
- €1,000
- Shares
- 100
- Contribution per share
- €10
- Equity per share
- €36.22 in 2025
- Source
- deed of 25-06-2024
Articles of association
deed of 25-06-2024 (in Dutch)- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimited
- Transfer restrictionThis rule says whether shareholders may sell their shares freely or need approval first.
- “Helft overdrager en helft koper(s) naar evenredigheid aantal, zelfde formaliteiten indien geen aandeelhouder van rechtswege”
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- Last Friday of April at 17:00
- 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
Shareholders
At incorporation
deed of 25-06-2024 ↗
- DEJAEGHERE Sebastian John 100 shares (100%) · €1,000 in cash
Network & group
No group
MORASU has no parent and no holdings in its annual accounts. De Smedt Marnik is the only director. MORASU shares no director with another company.
At the same address
Raymond Delbekestraat 351, 2980 Zoersel · 1 other company| De Smedt, Marnik (sole trader)
establishment since 01-04-2022 |
founded in 2022 0780.872.269 |
Timeline
Timeline
6 events since 2024Board
Filings
Establishments
Address
202420252026
Deadline for the 2026 accounts: 31-07-2027
2026
Annual accounts 2025 filed NBBmicro format · 27 days late
2025
Registered in the Peppol Directory Reachable for e-invoices through 0208:1010601923
Registered office moved from Mechelen to ZoerselNew registered office: Raymond Delbekestraat 351 te 2980 Zoersel · Previous registered office: Leestsesteenweg 73 te 2800 Mechelen · Resignation: Dejaeghere Sebastian (director) · General meeting of 05-06-20254 points ▸
- General meeting, 05-06-2025
- Director resignation, Dejaeghere Sebastian
- Director appointment, De Smedt Marnik
- Registered-office move, Raymond Delbekestraat 351 te 2980 Zoersel
Annual accounts 2024 filed NBBmicro format · 75 days before the deadline
2024
IncorporationFounding capital of €1,000, 100 shares · Founder: DEJAEGHERE Sebastian John · Appointment: DEJAEGHERE Sebastian John (director) · published on 25-06-20245 points ▸
- Founder, DEJAEGHERE Sebastian John
- Founding capital, €1,000, 100 shares
- Registered office clause, Leestsesteenweg 73, 2800 Mechelen
- Board rule, 1
- Director appointment, DEJAEGHERE Sebastian John
- The deed holds 8 more points.
First establishment Mathis Aannemingen, Raymond Delbekestraat 351, Zoersel
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Identity
- Enterprise number
- 1010.601.923
- VAT number
- BE 1010.601.923
- Peppol ID
- 0208:1010601923
- Other Peppol ID
- 9925:BE1010601923
- Legal form
- Private limited company
- Status
- Active, normal situation
- Founded
- 21-06-2024
- Financial year
- ends on 31 December
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- Last Friday of April at 17:00deed of 25-06-2024 (in Dutch)
- Peppol
- Reachable since 24-11-2025Follow this company and you will hear the next morning if it leaves the Peppol register.
- Name
- MORASU in Dutch
- Entity type
- Legal entity
- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimiteddeed of 25-06-2024 (in Dutch)
- Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
- “Vlaams Gewest”deed of 25-06-2024 (in Dutch)
Activities
NACEBEL 202541003
General construction of other non-residential buildings main activity
43221
Plumbing work
Codes under NACEBEL 2008
41203
Construction of residential and non-residential buildings main activity
43211
Specialised construction activities
43221
Plumbing
43299
Specialised construction activities
43994
Specialised construction activities
81300
Landscape service activities
- PurposeThe purpose describes the activities the company may carry out under its articles.
- “Renovatiewerken aan gebouwen; Restauratie van gebouwen; Onderhoud van gebouwen; Loodgieterswerk; Elektriciteitswerken; Installatie van…”deed of 25-06-2024 (in Dutch)
55 activities
- Renovatiewerken aan gebouwen
- Restauratie van gebouwen
- Onderhoud van gebouwen
- Loodgieterswerk
- Elektriciteitswerken
- Installatie van verwarming, klimaatregeling en ventilatie
- Metselwerken
- Vloer- en tegelwerken
- Aanleg van tuinen en parken
- Onderhoud van tuinen en parken
- Snoeien van bomen en heggen
- Isolatiewerkzaamheden
- Uitvoeren van voegwerken
- Overige werkzaamheden in verband met de afwerking van gebouwen
- Landschapsverzorging
- Reparatie en onderhoud van verwarmingsinstallaties
- Reparatie van machines
- Reparatie van elektrische apparatuur
- Ontwikkeling van residentiële bouwprojecten
- Bouw van appartementen volgens de formule „sleutel op de deur"
- Optrekken van de ruwbouw van gebouwen
- Algemene coördinatiewerkzaamheden bouwwerf
- Bouw van rioleringen
- Elektrische installatie, loodgieterswerk en overige bouwinstallatie
- Plaatsen van vloer- en wandtegels
- Montage van buiten- en binnenschrijnwerk van hout of van kunststof: deuren, vensters, kozijnen, trappen, muurkasten, inbouwkeukens, winkelinrichtingen, enz.
- Installatie van al dan niet verplaatsbare tussenwanden, bekleding van wanden, plafonds, enz. in hout of kunststof
- Installatie van garagepoorten, luiken, zonneblinden, traliewerk, hekken, enz., in hout of kunststof
- Installatie van geblindeerde deuren en brandwerende deuren in hout of kunststof
- Montage van serres, veranda’s, enz., in hout of kunststof
- Plaatsen van tussenwanden van gipsplaten
- Plaatsen van vloerbedekking en wandbekleding van hout
- Plaatsen van behang en vloerbedekking en wandbekleding van andere materialen
- Schilderen van gebouwen
- Waterdichtingswerken van muren
- Gevelreiniging
- Chapewerken
- Installatie van particuliere zwembaden
- Handelsbemiddeling in hout en bouwmaterialen
- Handelsbemiddeling in sanitaire artikelen
- Handelsbemiddeling in meubels, huishoudelijke artikelen en ijzerwaren
- Toezien op de bouwwerkzaamheden (ruwbouw, installatie, afwerking, enz.)
- Leiden van belangrijke herstellingswerkzaamheden aan gebouwen
- Uitwerking van projecten op het gebied van klimaatbeheersing, koeltechniek, zuivering en voorkomen van pollutie, akoestiek, enz.
- Lappen van ramen
- Reparatie van meubelen en stoffering
- Reparatie van fietsen
- Reparatie van diverse artikelen (sleutels, sloten, hakken enz.), inclusief de expresreparaties aan huis
- Diensten in verband met het lichamelijk welzijn, zoals verleend in inrichtingen voor thalassotherapie, kuuroorden, Turkse baden, sauna’s, stoombaden, solariums, massagesalons, enz.
- Overige zakelijke dienstverlening, n.e.g.
- Handel in eigen onroerend goed die rechtstreeks of onrechtstreeks in verband staan met het voorwerp
- Beleggen van eigen gelden
- Functie van zaakvoerder, bestuurder of vereffenaar uitoefenen in andere vennootschappen
- Borgstellen voor de bestuurders en/of aandeelhouders
- Het verwerven en aanhouden van participaties in andere vennootschappen waarvan het voorwerp hetzelfde is als in deze akte.
Registered office and establishments
1 establishment| Establishment | Since | Unit number |
|---|---|---|
| Mathis Aannemingen registered office Raymond Delbekestraat 351, 2980 Zoersel | 21-06-2024 | 2.360.893.787 |
1 former office
- Leestsesteenweg 73, 2800 Mechelen until 05-06-2025 · deed of 10-09-2025
Buildings and parcels at the address
- Ground area
- 1,865 m²
- Buildings
- 290 m²
- Volume, LiDAR
- 993 m³
- Tallest building
- 7.7 m
Buildings to scale, each on its own parcel
Parcels
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 11453I0413/00F000 | 1,865 m² | 1 · 290 m² | 7.7 m · 1 |
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 1010.601.923