Investments
Green is investment, beige is depreciation.
Green is investment, beige is depreciation.
Latest accounts filed late: after the legal deadline.
Less equity than 81% of companies in specialised construction. Sector median €250,150 · 9,975 companies.
A confirmed filing finding caps the score at 59.
The dashed line is the sector median: 0.7% across 47,693 companies (NACE 43, micro).
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
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 43, micro). It does better than 50% of them on solvency, 71% on liquidity, 21% on profitability and 31% on growth.
The bankruptcy probability was computed on 09-11-2026 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 low class on 30-06-2025, 0.8% 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).
In July 2024, 3,440 companies had the same profile as MPP Construct has now. Each dot stands for 9 companies, two years later.
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of MPP Construct itself: 1.3% within 12 months.
The method was tested on the 497,447 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 3,440 companies, not a prediction for MPP Construct. 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.
Liquidity is ample, with a current ratio of 1.83 (1.65 in 2024), above the usual 1.5. Short-term debt is 53.7% and cash 48.7% of total assets. However, 53.7% of the assets are financed with debt and provisions.
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.
The company filed its last 6 accounts on average 54 days after the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| MPP Construct Anderlecht | €84,154 | €6,171 | 46.3% | - |
| IMA INVEST Anderlecht | €98,501 | €6,227 | 52.3% | - |
| BBK CONSTRUCT Saint-Josse-ten-Noode | €84,794 | €5,423 | 62.7% | - |
| DW CONSTRUCTIONS Kapellen | €100,326 | €5,539 | 38.6% | - |
| SAVANNA CONSTRUCT Zaventem | €102,440 | €6,242 | 23.4% | - |
| DEPOMPERS.BE Sint-Niklaas | €106,989 | €6,109 | 76.0% | - |
| YIPRAMAZ Anderlecht | €108,112 | €8,467 | 79.7% | - |
These companies have the same main activity as MPP Construct: other specialised construction activities (NACE 43990). They are comparable in size and age: total assets between €84,800 and €108,000, founded between 2019 and 2020.
MPP Construct files the abbreviated format. That format states no turnover. The gross margin fell from €171,316 in 2020 to €6,171 in 2025.
GYPRO-NET holds all the shares.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Higher than 53% of 9,973 companies in 2025.
Higher than 53% of 9,836 companies in 2025.
Higher than 18% of 9,905 companies in 2025.
Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: bottom quarter · Working capital: middle half
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||
20/58 |
84,154 | 101,157 | 99,860 | 139,903 | 281,778 | 313,315 | |
21/28 |
1,314 | 122 | 122 | - | - | 1,000 | |
22/27 |
1,192 | - | - | - | - | 879 | |
24 |
1,192 | - | - | - | - | 879 | |
28 |
122 | 122 | 122 | - | - | 122 | |
29/58 |
82,840 | 101,035 | 99,738 | 139,903 | 281,778 | 312,315 | |
40/41 |
41,895 | 64,962 | 79,060 | 83,334 | 84,740 | 142,569 | |
40 |
25,570 | 44,622 | 62,426 | 74,069 | 70,164 | 142,569 | |
41 |
16,325 | 20,340 | 16,634 | 9,265 | 14,576 | - | |
54/58 |
40,945 | 36,073 | 20,678 | 56,570 | 197,037 | 169,746 | |
| Balance sheet: equity and liabilities | |||||||
10/49 |
84,154 | 101,157 | 99,860 | 139,903 | 281,778 | 313,315 | |
10/15 |
38,964 | 39,930 | 25,291 | 39,103 | 35,494 | 32,402 | |
10/11 |
10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | |
10 |
10,000 | 10,000 | 10,000 | 10,000 | 10,000 | - | |
100 |
10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | |
14 |
28,964 | 29,930 | 15,291 | 29,103 | 25,494 | 22,402 | |
17/49 |
45,190 | 61,227 | 74,568 | 100,801 | 246,283 | 280,913 | |
42/48 |
45,190 | 61,227 | 74,568 | 100,801 | 246,283 | 280,913 | |
43 |
- | - | 20,000 | - | - | - | |
430/8 |
- | - | 20,000 | - | - | - | |
44 |
20,112 | 25,578 | 36,396 | 35,764 | 90,560 | 139,471 | |
440/4 |
20,112 | 25,578 | 36,396 | 35,764 | 90,560 | 139,471 | |
45 |
3,478 | 7,017 | 3,772 | 57,836 | 55,724 | 33,346 | |
450/3 |
3,478 | 7,017 | 3,772 | 57,836 | 55,724 | 33,346 | |
47/48 |
21,600 | 28,631 | 14,400 | 7,200 | 100,000 | 108,096 | |
| Income statement | |||||||
70 |
477,740 | 545,257 | 439,702 | 834,523 | 1.7m | - | |
9900 |
6,171 | 22,626 | 6,531 | 8,390 | 267,643 | 171,316 | |
60/61 |
475,237 | 526,434 | 437,346 | 830,338 | 1.4m | - | |
630 |
30 | - | - | - | - | 121 | |
640/8 |
1,452 | 1,266 | 1,663 | 2,036 | 2,437 | 1,678 | |
66A |
- | - | - | - | 879 | - | |
9901 |
4,689 | 21,359 | 4,868 | 6,355 | 264,328 | 169,516 | |
75/76B |
859 | 1,080 | 640 | 533 | - | 55 | |
75 |
859 | 1,080 | 640 | 533 | - | 55 | |
65/66B |
1,073 | 2,645 | 4,454 | 692 | 446 | 435 | |
65 |
1,073 | 2,645 | 4,454 | 692 | 446 | 435 | |
9903 |
4,475 | 19,794 | 1,055 | 6,195 | 263,882 | 169,137 | |
67/77 |
5,441 | 5,156 | 14,750 | 2,587 | 60,789 | 46,735 | |
9904 |
-966 | 14,639 | -13,695 | 3,608 | 203,093 | 122,402 | |
9905 |
-966 | 14,639 | -13,695 | 3,608 | 203,093 | 122,402 | |
| Appropriation of the result | |||||||
9906 |
28,964 | 29,930 | 15,291 | 29,103 | 225,494 | 122,402 | |
14P |
29,930 | 15,291 | 28,987 | 25,494 | 22,402 | - | |
694/7 |
- | - | - | - | 200,000 | 100,000 | |
694 |
- | - | - | - | 200,000 | 100,000 | |
| Document | |||||||
The notes to these accounts have 5 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 31-10-2026.
2025 annual accounts filed 92 days after the deadline. Filed on 31 October 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00599102.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 31-10-2026 | 2026-00599102 | |
| 31-12-2024 | micro format | 30-09-2025 | 2025-00530451 | |
| 31-12-2023 | micro format | 30-09-2024 | 2024-00485783 | |
| 31-12-2022 | micro format | 31-08-2023 | 2023-00437744 | |
| 31-12-2021 | micro format | 31-08-2022 | 2022-20426222 | |
| 31-12-2020 | micro format | 14-09-2021 | 2021-67200397 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| 4,719 | - | - | - | - | 169,638 | ||
| -936 | - | - | - | - | 122,523 | ||
| 1,222 | - | 122 | - | - | 1,122 | ||
| 4,872 | 15,395 | -35,892 | -140,467 | 27,292 | - | ||
| 37,650 | 39,808 | 25,170 | 39,103 | 35,494 | 31,401 | ||
| 1.0% | 3.9% | 1.1% | 0.8% | 15.8% | - | ||
| 46.3% | 39.5% | 25.3% | 27.9% | 12.6% | 10.3% | ||
| 1.83 | 1.65 | 1.34 | 1.39 | 1.14 | 1.11 | ||
| 1.16 | 1.53 | 2.95 | 2.58 | 6.94 | 8.67 | ||
| -2.5% | 36.7% | -54.2% | 9.2% | 572.2% | 377.8% | ||
| -1.1% | 14.5% | -13.7% | 2.6% | 72.1% | 39.1% | ||
| 4.40 | - | - | - | - | - | ||
| 20 days | 30 days | 52 days | 32 days | 15 days | - | ||
| 15 days | 18 days | 30 days | 16 days | 23 days | - |
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.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €1,222 | - | - | - | - |
| Financial fixed assets | - | - | €122 | - | - |
| €30 | - | - | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 78% lower than in 2024 and the lowest since 2020.
Debt's share of the balance-sheet total falls from 60.5% to 53.7%. Equity and debt are lower.
Source: lists of holdings in the owners' accounts
Source: list of holdings in the 2025 accounts of GYPRO-NET. Every holding stands with its own latest accounts.
| GYPRO-NET
registered office since 07-01-1980 · founded in 1979 · accounts filed late |
total assets €825,254 (2025) 0419.953.382 |
The network starts from the directors of MPP Construct. Every other company they run is a node.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Victor Rauterstraat 232 registered office 1070 Anderlecht 43310 Plastering work | 20-12-2019 | 2.299.664.419 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 21308H0517/00M006 | 72 m² | 1 · 72 m² | 14.0 m · 4 |
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 0739.912.733
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