MRC PROJECTS
ActiveSummary
The computed 12-month bankruptcy probability of MRC PROJECTS is 1.9% (moderate). The 2025 annual accounts show equity of €59,441 and a net result of €59,440. Equity is growing by ~97% per year across the filed fiscal years. Its solvency ranks better than 37% of 28184 sector peers (fiscal year 2025). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+2
Solvency60▼-39
Growth78=
Track record94
Bankruptcy probability, 12 months
1.9%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €3,500 at 30 days acceptable
Liquidity tight (current ratio 1.26 against 5.06 in 2024; short-term debt: 43% and cash: 22.4% of total assets), and 64.9% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+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 →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
35.1%
Return on assets
35.1%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-04-2026, 92 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
92 d early
2024
6 d early
2023
19 d early
2022
25 d early
2021
23 d early
2020
4 d early
← 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 28 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€59,441▼ 71.6%
2024 · €209,442
Total assets
€169,471▼ 40.5%
2024 · €284,840
Net result
€59,440▼ 10.0%
2024 · €66,040
Working capital
€19,307▼ 88.3%
2024 · €165,283
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€29,702▲ 537%€52,940▲ 78.2%€98,988▲ 87.0%€83,929▼ 15.2%€76,917▼ 8.4%
Net result€23,665within the sector's middle half▲ 538%€40,033above the sector's middle half▲ 69.2%€78,487above the sector's middle half▲ 96.1%€66,040above the sector's middle half▼ 15.9%€59,440above the sector's middle half▼ 10.0%
Equity€27,374within the sector's middle half▲ 638%€66,607within the sector's middle half▲ 143%€144,261above the sector's middle half▲ 117%€209,442above the sector's middle half▲ 45.2%€59,441within the sector's middle half▼ 71.6%
Total assets€70,800within the sector's middle half▼ 3.5%€143,230within the sector's middle half▲ 102%€184,218within the sector's middle half▲ 28.6%€284,840within the sector's middle half▲ 54.6%€169,471within the sector's middle half▼ 40.5%
Debt€43,426▼ 37.6%€76,623▲ 76.4%€39,957▼ 47.9%€75,398▲ 88.7%€110,030▲ 45.9%
Working capital-€25,668▲ 56.7%-€15,722▲ 38.7%€103,287€165,283▲ 60.0%€19,307▼ 88.3%
Solvency38.7%within the sector's middle half▲ 33.6pp46.5%within the sector's middle half▲ 7.8pp78.3%above the sector's middle half▲ 31.8pp73.5%above the sector's middle half▼ 4.8pp35.1%within the sector's middle half▼ 38.5pp
Staff (FTE)1▼ 23.1%1=1=1=1.2▲ 20.0%
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 8% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €169,471
Fixed assets
€77,222 ▼ 2.1%
Current assets
€92,250 ▼ 55.2%
Equity and liabilities €169,471
Equity
€59,441 ▼ 71.6%
Debt
€110,030 ▲ 45.9%
Debt's share of the balance-sheet total rises from 26.5% to 64.9%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€108,292▲
2024 · €107,226
Cash flow
€90,815▲
2024 · €89,337
Current ratio
1.26▼
2024 · 5.06
Quick ratio
0.94▼
2024 · 4.47
Debt to equity
1.85▲
2024 · 0.36
ROE
100.0%▲
2024 · 31.5%
ROA
35.1%▲
2024 · 23.2%
Interest coverage
35.73▼
2024 · 42.89
Debt ≤ 1 year
€72,943▲
2024 · €40,700
Debt > 1 year
€37,088▲
2024 · €34,698
Income taxes
€16,205▼
2024 · €16,533
Staff costs
€82,591▲
2024 · €66,157
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,964 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.5%
went bankrupt
3.4%
stopped otherwise
95%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 1.9% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 26,964 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €1,818 | €0 | ▼ 100% |
| Remuneration, social security and pensions62 | €49,083 | €56,028 | €66,111 | €66,157 | €82,591 | ▲ 24.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €15,618 | €16,374 | €25,415 | €23,297 | €31,375 | ▲ 34.7% |
| Other operating charges640/8 | €743 | €221 | €1,518 | €1,209 | €1,285 | ▲ 6.3% |
| Non-recurring operating charges66A | - | - | - | - | €1,800 | - |
| Gross operating margin9900 | €95,145 | €125,563 | €192,032 | €174,592 | €193,969 | ▲ 11.1% |
| Operating profit (loss)9901 | €29,702 | €52,940 | €98,988 | €83,929 | €76,917 | ▼ 8.4% |
| Financial income75/76B | €10 | €636 | €1,357 | €1,144 | €1,760 | ▲ 53.8% |
| Recurring financial income75 | €10 | €636 | €1,357 | €1,144 | €1,760 | ▲ 53.8% |
| Financial charges65/66B | €131 | €208 | €1,932 | €2,500 | €3,031 | ▲ 21.2% |
| Recurring financial charges65 | €131 | €208 | €1,932 | €2,500 | €3,031 | ▲ 21.2% |
| Profit (loss) for the period before taxes9903 | €29,581 | €53,369 | €98,413 | €82,573 | €75,645 | ▼ 8.4% |
| Income taxes67/77 | €5,916 | €13,336 | €19,926 | €16,533 | €16,205 | ▼ 2.0% |
| Profit (loss) for the period9904 | €23,665 | €40,033 | €78,487 | €66,040 | €59,440 | ▼ 10.0% |
| Profit (loss) for the period to be appropriated9905 | €23,665 | €40,033 | €78,487 | €66,040 | €59,440 | ▼ 10.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €70,800 | €143,230 | €184,218 | €284,840 | €169,471 | ▼ 40.5% |
| Fixed assets21/28 | €53,042 | €82,329 | €56,914 | €78,857 | €77,222 | ▼ 2.1% |
| Intangible fixed assets21 | €35,975 | €26,975 | €17,975 | €8,975 | €0 | ▼ 100% |
| Tangible fixed assets22/27 | €17,067 | €55,354 | €38,939 | €69,881 | €77,222 | ▲ 10.5% |
| Furniture and vehicles24 | €17,067 | €55,354 | €38,939 | €69,881 | €77,222 | ▲ 10.5% |
| Current assets29/58 | €17,758 | €60,900 | €127,304 | €205,983 | €92,250 | ▼ 55.2% |
| Stocks and contracts in progress3 | - | - | €20,000 | €23,914 | €23,914 | = |
| Contracts in progress37 | - | - | €20,000 | €23,914 | €23,914 | = |
| Amounts receivable within one year40/41 | €8,919 | €29,883 | €36,802 | €27,776 | €29,903 | ▲ 7.7% |
| Trade receivables40 | €5,934 | €21,615 | €31,395 | €20,900 | €28,021 | ▲ 34.1% |
| Other amounts receivable41 | €2,985 | €8,268 | €5,406 | €6,876 | €1,882 | ▼ 72.6% |
| Cash at bank and in hand54/58 | €8,839 | €31,018 | €70,502 | €153,935 | €37,994 | ▼ 75.3% |
| Deferred charges and accrued income490/1 | - | - | - | €358 | €438 | ▲ 22.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €70,800 | €143,230 | €184,218 | €284,840 | €169,471 | ▼ 40.5% |
| Equity10/15 | €27,374 | €66,607 | €144,261 | €209,442 | €59,441 | ▼ 71.6% |
| Contributions10/11 | €1 | €1 | €1 | €1 | €1 | = |
| Profit (loss) carried forward14 | €27,373 | €66,606 | €144,260 | €209,441 | €59,440 | ▼ 71.6% |
| Amounts payable17/49 | €43,426 | €76,623 | €39,957 | €75,398 | €110,030 | ▲ 45.9% |
| Amounts payable after more than one year17 | - | - | €15,941 | €34,698 | €37,088 | ▲ 6.9% |
| Financial debts170/4 | - | - | €15,941 | €34,698 | €37,088 | ▲ 6.9% |
| Amounts payable within one year42/48 | €43,426 | €76,623 | €24,017 | €40,700 | €72,943 | ▲ 79.2% |
| Current portion of amounts payable after more than one year42 | - | - | €13,922 | €23,093 | €13,785 | ▼ 40.3% |
| Trade debts44 | €2,919 | €46,642 | €1,787 | €6,935 | €17,897 | ▲ 158% |
| Suppliers440/4 | €2,919 | €46,642 | €1,787 | €6,935 | €17,897 | ▲ 158% |
| Taxes, remuneration and social security45 | €6,949 | €16,300 | €1,637 | €5,469 | €2,740 | ▼ 49.9% |
| Taxes450/3 | €5,916 | €16,300 | €1,637 | €4,018 | €2,739 | ▼ 31.9% |
| Remuneration and social security454/9 | €1,033 | - | - | €1,450 | €1 | ▼ 99.9% |
| Other amounts payable47/48 | €33,558 | €13,681 | €6,671 | €5,204 | €38,521 | ▲ 640% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €23,665 | €40,033 | €78,487 | €66,040 | €59,440 | ▼ 10.0% |
| + Depreciation and write-downs630 | €15,618 | €16,374 | €25,415 | €23,297 | €31,375 | ▲ 34.7% |
| Operating cash flow (approximation) | €39,283 | €56,407 | €103,902 | €89,337 | €90,815 | ▲ 1.7% |
| Investment in fixed assets (approximation) | - | -€45,661 | €0 | -€45,239 | -€29,740 | ▲ 34.3% |
| Change in cash | - | €22,179 | €39,484 | €83,433 | -€115,941 | ▼ 239% |
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
Next filing, fiscal year 2026, expected by
2026
30-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
25-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Equity above €200,000Eq €209,442 ▲45.2%
5 profitable years in a row build equity to €209,442.
12-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2020net €78,487 ▲96.1%
Operating result €98,988, net result €78,487, both a record.
31-12
Financial
Liquidity times 7current ratio 5.30
Current ratio from 0.79 to 5.30; short-term debt falls from €76,623 to €24,017.
31-12
Financial
Equity above €100,000Eq €144,261 ▲117%
4 profitable years in a row build equity to €144,261.
06-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
08-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
27-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
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, Antwerpen · 1 establishment unit since 2020
Ground area
336 m²
Building footprint
187 m²
Volume, LiDAR
2,334 m³
Parcel 11342A0330/00T008, Flanders · tallest building 14.9 m, ±5 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
MRC PROJECTS
since 20202.308.324.836
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11342A0330/00T008 | Flanders | 336 m² | 1 · 187 m² | 14.9 m · 5 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 11,141 companies in sector 43910 we hold annual accounts for 5,492. 4,754 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
Founded08-10-2020
Fiscal year end31-12
Activities, NACEBEL 2025
43341Painting of buildings
43910Bricklaying and masonry work
Contact
Website
www.mrcprojects.be
E-mail
Christophe.mertens4@telenet.be
E-invoicing
Reachable via Peppol
Peppol ID
0208:0755899224
Also
9925:BE0755899224
Registered
19-05-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.