MP WORKS
ActiveSummary
The computed 12-month bankruptcy probability of MP WORKS is 2.5% (moderate). The 2024 annual accounts show equity of €35k and a net result of €34k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 16% of 36375 sector peers (fiscal year 2024). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability84=
Solvency37▼-15
Growth78=
Track record94
Bankruptcy probability, 12 months
2.5%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €1.5k at 30 days acceptable
Liquidity short (current ratio 0.55 against 0.62 in 2023; short-term debt: 67.7% and cash: 10% of total assets), and 87.7% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
+raises risk○neutral
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 · 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 →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
12.3%
Return on assets
11.9%
Age of the figures
21 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 16% of 36375 sector peers (2024).
NBB · sector comparisonPosition among 36375 sector peers
Solvency
better than 16%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 28-07-2025, 3 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
not confirmed
2024
3 d early
2023
37 d early
2022
40 d early
2021
39 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€35k▼ 56.5%
2023 · €81k
2021: €25klowest in 4 years
2022: €46k▲ +79.7% vs 2021
2023: €81k▲ +78.2% vs 2022highest in 4 years
2024: €35k▼ -56.5% vs 2023
2021 → 2024
Total assets
€288k▼ 4.0%
2023 · €300k
2021: €121klowest in 4 years
2022: €177k▲ +46.6% vs 2021
2023: €300k▲ +69.9% vs 2022highest in 4 years
2024: €288k▼ -4.0% vs 2023
2021 → 2024
Net result
€34k▼ 3.7%
2023 · €36k
2021: €24k
2022: €20k▼ -17.0% vs 2021lowest in 4 years
2023: €36k▲ +76.4% vs 2022highest in 4 years
2024: €34k▼ -3.7% vs 2023
2021 → 2024
Working capital
€-87k▼ 54.8%
2023 · €-56k
2021: €-63k
2022: €-57k▲ +8.9% vs 2021
2023: €-56k▲ +1.5% vs 2022highest in 4 years
2024: €-87k▼ -54.8% vs 2023lowest in 4 years
2021 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2021202220232024Trend
Equity€25k-€46k▲ 79.7%€81k▲ 78.2%€35k▼ 56.5%
2021: €25klowest in 4 years
2022: €46k▲ +79.7% vs 2021
2023: €81k▲ +78.2% vs 2022highest in 4 years
2024: €35k▼ -56.5% vs 2023
Operating result€26k-€23k▼ 12.9%€45k▲ 97.8%€52k▲ 16.3%
2021: €26k
2022: €23k▼ -12.9% vs 2021lowest in 4 years
2023: €45k▲ +97.8% vs 2022
2024: €52k▲ +16.3% vs 2023highest in 4 years
Net result€24k-€20k▼ 17.0%€36k▲ 76.4%€34k▼ 3.7%
2021: €24k
2022: €20k▼ -17.0% vs 2021lowest in 4 years
2023: €36k▲ +76.4% vs 2022highest in 4 years
2024: €34k▼ -3.7% vs 2023
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 16% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €288k
Fixed assets
€180k ▼ 13.4%
Current assets
€108k ▲ 17.2%
Equity and liabilities €288k
Equity
€35k ▼ 56.5%
Debt
€253k ▲ 15.5%
Debt's share of the balance-sheet total rises from 72.9% to 87.7%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€109k▲
2023 · €82k
Cash flow
€92k▲
2023 · €73k
Current ratio
0.55▼
2023 · 0.62
Quick ratio
0.46▲
2023 · 0.44
Debt to equity
7.14▲
2023 · 2.69
ROE
97.2%▲
2023 · 43.9%
ROA
11.9%▲
2023 · 11.9%
Interest coverage
10.83▼
2023 · 37.42
Debt ≤ 1 year
€195k▲
2023 · €148k
Debt > 1 year
€52k▼
2023 · €71k
Income taxes
€9k▲
2023 · €8k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 52 lines
Balance sheet
Code20232024
Assets
Total assets20/58€300k€288k▼
Fixed assets21/28€208k€180k▼
Intangible fixed assets21€5k€4k▼
Tangible fixed assets22/27€203k€175k▼
Plant, machinery and equipment23€86k€73k▼
Furniture and vehicles24€91k€77k▼
Other tangible fixed assets26€26k€25k▼
Financial fixed assets28-€900
Current assets29/58€92k€108k▲
Stocks and contracts in progress3€27k€19k▼
Stocks30/36€27k€19k▼
Amounts receivable within one year40/41€22k€54k▲
Trade receivables40€17k€48k▲
Other amounts receivable41€4k€6k▲
Cash at bank and in hand54/58€42k€29k▼
Deferred charges and accrued income490/1€2k€6k▲
Equity and liabilities
Total equity and liabilities10/49€300k€288k▼
Equity10/15€81k€35k▼
Contributions10/11€1k€1k=
Reserves13€80k€34k▼
Distributable reserves133€80k€34k▼
Amounts payable17/49€219k€253k▲
Amounts payable after more than one year17€71k€52k▼
Financial debts170/4€71k€52k▼
Amounts payable within one year42/48€148k€195k▲
Current portion of amounts payable after more than one year42€15k€19k▲
Trade debts44€28k€29k▲
Suppliers440/4€28k€29k▲
Advances received on contracts in progress46€27k-
Taxes, remuneration and social security45€10k€10k▼
Taxes450/3€10k€10k▼
Other amounts payable47/48€69k€138k▲
Accrued charges and deferred income492/3-€6k
Income statement
Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€37k€57k▲
Other operating charges640/8€1k€2k▲
Non-recurring operating charges66A€6k-
Gross operating margin9900€90k€111k▲
Operating profit (loss)9901€45k€52k▲
Financial income75/76B€880€1k▲
Recurring financial income75€880€1k▲
Financial charges65/66B€2k€10k▲
Recurring financial charges65€2k€10k▲
Profit (loss) for the period before taxes9903€43k€43k▼
Income taxes67/77€8k€9k▲
Profit (loss) for the period9904€36k€34k▼
Profit (loss) for the period to be appropriated9905€36k€34k▼
Appropriation of the result
Profit (loss) to be appropriated9906€36k€34k▼
Transfer from equity791/2-€80k
Transfer to equity691/2€36k€34k▼
To other reserves6921€36k€34k▼
Profit to be distributed694/7-€80k
Return on contributions (dividend)694-€80k
The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6k | €21k | €37k | €57k | ▲ 52.5% |
| Other operating charges640/8 | €446 | €527 | €1k | €2k | ▲ 91.0% |
| Non-recurring operating charges66A | - | - | €6k | - | - |
| Gross operating margin9900 | €33k | €44k | €90k | €111k | ▲ 24.0% |
| Operating profit (loss)9901 | €26k | €23k | €45k | €52k | ▲ 16.3% |
| Financial income75/76B | €212 | €420 | €880 | €1k | ▲ 48.9% |
| Recurring financial income75 | €212 | €420 | €880 | €1k | ▲ 48.9% |
| Financial charges65/66B | €756 | €488 | €2k | €10k | ▲ 359% |
| Recurring financial charges65 | €756 | €488 | €2k | €10k | ▲ 359% |
| Profit (loss) for the period before taxes9903 | €25k | €23k | €43k | €43k | ▼ 0.3% |
| Income taxes67/77 | €1k | €2k | €8k | €9k | ▲ 15.0% |
| Profit (loss) for the period9904 | €24k | €20k | €36k | €34k | ▼ 3.7% |
| Profit (loss) for the period to be appropriated9905 | €24k | €20k | €36k | €34k | ▼ 3.7% |
| Line | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €121k | €177k | €300k | €288k | ▼ 4.0% |
| Fixed assets21/28 | €99k | €138k | €208k | €180k | ▼ 13.4% |
| Intangible fixed assets21 | - | - | €5k | €4k | ▼ 12.8% |
| Tangible fixed assets22/27 | €99k | €138k | €203k | €175k | ▼ 13.8% |
| Plant, machinery and equipment23 | €47k | €80k | €86k | €73k | ▼ 15.5% |
| Furniture and vehicles24 | €26k | €28k | €91k | €77k | ▼ 15.1% |
| Other tangible fixed assets26 | €26k | €30k | €26k | €25k | ▼ 3.9% |
| Financial fixed assets28 | - | - | - | €900 | - |
| Current assets29/58 | €21k | €39k | €92k | €108k | ▲ 17.2% |
| Stocks and contracts in progress3 | €2k | €5k | €27k | €19k | ▼ 28.4% |
| Stocks30/36 | €2k | €5k | €27k | €19k | ▼ 28.4% |
| Amounts receivable within one year40/41 | €11k | €14k | €22k | €54k | ▲ 151% |
| Trade receivables40 | €4k | €6k | €17k | €48k | ▲ 177% |
| Other amounts receivable41 | €6k | €8k | €4k | €6k | ▲ 43.8% |
| Cash at bank and in hand54/58 | €8k | €18k | €42k | €29k | ▼ 30.5% |
| Deferred charges and accrued income490/1 | €843 | €2k | €2k | €6k | ▲ 144% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €121k | €177k | €300k | €288k | ▼ 4.0% |
| Equity10/15 | €25k | €46k | €81k | €35k | ▼ 56.5% |
| Contributions10/11 | €1k | €1k | €1k | €1k | = |
| Reserves13 | €24k | €45k | €80k | €34k | ▼ 57.2% |
| Distributable reserves133 | €24k | €45k | €80k | €34k | ▼ 57.2% |
| Amounts payable17/49 | €95k | €131k | €219k | €253k | ▲ 15.5% |
| Amounts payable after more than one year17 | €11k | €35k | €71k | €52k | ▼ 26.3% |
| Financial debts170/4 | €11k | €35k | €71k | €52k | ▼ 26.3% |
| Amounts payable within one year42/48 | €84k | €96k | €148k | €195k | ▲ 31.4% |
| Current portion of amounts payable after more than one year42 | €9k | €16k | €15k | €19k | ▲ 27.1% |
| Trade debts44 | €11k | €9k | €28k | €29k | ▲ 4.2% |
| Suppliers440/4 | €11k | €9k | €28k | €29k | ▲ 4.2% |
| Advances received on contracts in progress46 | - | - | €27k | - | - |
| Taxes, remuneration and social security45 | €1k | €3k | €10k | €10k | ▼ 4.3% |
| Taxes450/3 | €1k | €3k | €10k | €10k | ▼ 4.3% |
| Other amounts payable47/48 | €63k | €67k | €69k | €138k | ▲ 100% |
| Accrued charges and deferred income492/3 | - | - | - | €6k | - |
| Line | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €24k | €20k | €36k | €34k | ▼ 3.7% |
| + Depreciation and write-downs630 | €6k | €21k | €37k | €57k | ▲ 52.5% |
| Operating cash flow (approximation) | €31k | €41k | €73k | €92k | ▲ 25.1% |
| Investment in fixed assets (approximation) | - | €-60k | €-108k | €-29k | ▲ 72.8% |
| Change in cash | - | €10k | €24k | €-13k | ▼ 154% |
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
28-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
24-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2021net €36k ▲76.4%
Net result €36k, the highest in the series.
21-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet €20k ▼17%
Net result drops to €20k, the lowest in the series; recovery starts the following year.
22-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Hulshout · 1 establishment unit since 2021
Ground area
773 m²
Building footprint
105 m²
Volume, LiDAR
642 m³
Parcel 13016B0123/00G000, Flanders · tallest building 8.2 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
MP WORKS
since 20212.312.331.431
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13016B0123/00G000 | Flanders | 773 m² | 1 · 104 m² | 8.2 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.
Public money · subsidies and aid
Flemish government
2023 to 2025 · 3 entries · 865 EUR awarded · 866 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 113 EUR | 113 EUR |
| 2024 | 1 | 94 EUR | 660 EUR |
| 2023 | 1 | 658 EUR | 93 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Recognised contractor
2 categoriesMP WORKS BV46286
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Of 20,018 companies in sector 43320 we hold annual accounts for 9,132. 7,022 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
Founded22-01-2021
Fiscal year end31-12
Activities, NACEBEL 2025
43320Joinery installation
16230Manufacture of other builders' carpentry and joinery
42110Construction of roads and motorways
43211General electrical installation work
43212Electrical installation work in industrial facilities
43990Other specialised construction activities
81300Landscape service activities
Contact
Website
www.mpworks.be
E-mail
info@mpworks.be
Scores and ratios are computed by Checked and are not a credit decision.