MRJ
ActiveSummary
MRJ has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €235k and a net result of €323k. Equity is growing by ~67.2% per year across the filed fiscal years. Its solvency ranks better than 26% of 14128 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability72▲+11
Solvency30▲+2
Growth52▼-33
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €15k at 30 days acceptable
Liquidity ample (current ratio 4.07 against 5.34 in 2024; short-term debt: 14.9% and cash: 15.1% of total assets), but 95.5% 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.
−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
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer 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
4.5%
Return on assets
6.2%
Age of the figures
12 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 29-04-2026, 1 day ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
1 d early
2024
on the day
2022
30 d late
2021
30 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
€215k▼ 90.3%
2024 · €2.22M
2021: €451k
2022: €185k▼ -59.0% vs 2021lowest value
2024: €2.22Mhighest value
2025: €215k▼ -90.3% vs 2024
2021 → 2025
EBIT margin
239.8%▲ 223.0pp
2024 · 16.8%
2021: 10.0%lowest value
2022: 35.7%▲ +257% vs 2021
2024: 16.8%
2025: 239.8%▲ +1331% vs 2024highest value
2021 → 2025
Net result
€323k▲ 203%
2024 · €106k
2021: €11klowest value
2022: €14k▲ +23.4% vs 2021
2024: €106k
2025: €323k▲ +203% vs 2024highest value
2021 → 2025
Working capital
€2.38M▲ 8.4%
2024 · €2.20M
2021: €664klowest value
2022: €1.53M▲ +130% vs 2021
2024: €2.20M
2025: €2.38M▲ +8.4% vs 2024highest value
2021 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2021202220242025Trend
Turnover€451k-€185k▼ 59.0%€2.22M▲ 1,101%€215k▼ 90.3%
2021: €451k
2022: €185k▼ -59.0% vs 2021lowest value
2024: €2.22Mhighest value
2025: €215k▼ -90.3% vs 2024
Equity€31k-€46k▲ 44.9%€152k▲ 234%€235k▲ 54.5%
2021: €31klowest value
2022: €46k▲ +44.9% vs 2021
2024: €152k
2025: €235k▲ +54.5% vs 2024highest value
Operating result€45k-€66k▲ 46.5%€372k▲ 464%€516k▲ 38.5%
2021: €45klowest value
2022: €66k▲ +46.5% vs 2021
2024: €372k
2025: €516k▲ +38.5% vs 2024highest value
Net result€11k-€14k▲ 23.4%€106k▲ 654%€323k▲ 203%
2021: €11klowest value
2022: €14k▲ +23.4% vs 2021
2024: €106k
2025: €323k▲ +203% vs 2024highest value
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result rises in 2025; 2025 is 38% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €5.19M
Fixed assets
€2.04M ▼ 10.5%
Current assets
€3.16M ▲ 16.8%
Equity and liabilities €5.19M
Equity
€235k ▲ 54.5%
Debt
€4.96M ▲ 2.7%
Debt's share of the balance-sheet total falls from 97.0% to 95.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€637k▲
2024 · €551k
Cash flow
€445k▲
2024 · €285k
Current ratio
4.07▼
2024 · 5.34
Quick ratio
1.18▲
2024 · 1.17
Debt to equity
21.13▼
2024 · 31.79
ROE
137.5%▲
2024 · 70.0%
ROA
6.2%▲
2024 · 2.1%
Interest coverage
3.77▲
2024 · 2.36
Debt ≤ 1 year
€775k▲
2024 · €507k
Debt > 1 year
€4.18M▼
2024 · €4.31M
Income taxes
€24k▼
2024 · €34k
Staff costs
€151k▼
2024 · €165k
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 · 2025 against 2024 · 56 lines
Balance sheet
Code20242025
Assets
Total assets20/58€4.98M€5.19M▲
Fixed assets21/28€2.28M€2.04M▼
Tangible fixed assets22/27€2.28M€2.04M▼
Land and buildings22€2.20M€1.96M▼
Plant, machinery and equipment23€48k€38k▼
Furniture and vehicles24€30k€43k▲
Financial fixed assets28€205€205=
Current assets29/58€2.70M€3.16M▲
Amounts receivable after more than one year29€150k€50k▼
Other amounts receivable291€150k€50k▼
Stocks and contracts in progress3€2.11M€2.24M▲
Stocks30/36€2.11M€2.24M▲
Amounts receivable within one year40/41€36k€71k▲
Trade receivables40€18k€11k▼
Other amounts receivable41€18k€61k▲
Cash at bank and in hand54/58€401k€786k▲
Deferred charges and accrued income490/1€8k€9k▲
Equity and liabilities
Total equity and liabilities10/49€4.98M€5.19M▲
Equity10/15€152k€235k▲
Contributions10/11€20k€20k=
Profit (loss) carried forward14€132k€215k▲
Amounts payable17/49€4.83M€4.96M▲
Amounts payable after more than one year17€4.31M€4.18M▼
Financial debts170/4€2.28M€2.54M▲
Other amounts payable178/9€2.04M€1.64M▼
Amounts payable within one year42/48€507k€775k▲
Current portion of amounts payable after more than one year42€146k€181k▲
Financial debts43€198k€216k▲
Credit institutions430/8€198k€216k▲
Trade debts44€101k€117k▲
Suppliers440/4€101k€117k▲
Advances received on contracts in progress46€0-
Taxes, remuneration and social security45€49k€15k▼
Taxes450/3€36k€1k▼
Remuneration and social security454/9€14k€14k▲
Other amounts payable47/48€13k€246k▲
Accrued charges and deferred income492/3€10k€9k▼
Income statement
Code20242025
Turnover70€2.22M€215k▼
Goods, raw materials, services and sundry goods60/61€1.47M€545k▼
Remuneration, social security and pensions62€165k€151k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€178k€122k▼
Other operating charges640/8€122k€42k▼
Gross operating margin9900€838k€831k▼
Operating profit (loss)9901€372k€516k▲
Financial income75/76B€1k€722▼
Recurring financial income75€1k€722▼
Financial charges65/66B€233k€169k▼
Recurring financial charges65€233k€169k▼
Profit (loss) for the period before taxes9903€141k€347k▲
Income taxes67/77€34k€24k▼
Profit (loss) for the period9904€106k€323k▲
Profit (loss) for the period to be appropriated9905€106k€323k▲
Appropriation of the result
Profit (loss) to be appropriated9906€132k€455k▲
Profit (loss) brought forward from the previous period14P€26k€132k▲
Profit to be distributed694/7-€240k
Directors or managers695-€240k
The notes to these accounts (12 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Turnover70 | €451k | €185k | €2.22M | €215k | ▼ 90.3% |
| Goods, raw materials, services and sundry goods60/61 | €1.52M | €1.57M | €1.47M | €545k | ▼ 62.9% |
| Remuneration, social security and pensions62 | €35k | €35k | €165k | €151k | ▼ 8.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7k | €33k | €178k | €122k | ▼ 31.7% |
| Other operating charges640/8 | €88k | €76k | €122k | €42k | ▼ 65.4% |
| Gross operating margin9900 | €174k | €210k | €838k | €831k | ▼ 0.9% |
| Operating profit (loss)9901 | €45k | €66k | €372k | €516k | ▲ 38.5% |
| Financial income75/76B | €116 | €235 | €1k | €722 | ▼ 40.1% |
| Recurring financial income75 | €116 | €235 | €1k | €722 | ▼ 40.1% |
| Financial charges65/66B | €31k | €47k | €233k | €169k | ▼ 27.4% |
| Recurring financial charges65 | €31k | €47k | €233k | €169k | ▼ 27.4% |
| Profit (loss) for the period before taxes9903 | €14k | €19k | €141k | €347k | ▲ 147% |
| Income taxes67/77 | €3k | €5k | €34k | €24k | ▼ 28.6% |
| Profit (loss) for the period9904 | €11k | €14k | €106k | €323k | ▲ 203% |
| Profit (loss) for the period to be appropriated9905 | €11k | €14k | €106k | €323k | ▲ 203% |
| Line | 2021 | 2022 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €2.17M | €4.85M | €4.98M | €5.19M | ▲ 4.3% |
| Fixed assets21/28 | €721k | €1.96M | €2.28M | €2.04M | ▼ 10.5% |
| Tangible fixed assets22/27 | €720k | €1.96M | €2.28M | €2.04M | ▼ 10.5% |
| Land and buildings22 | €720k | €1.96M | €2.20M | €1.96M | ▼ 11.0% |
| Plant, machinery and equipment23 | - | - | €48k | €38k | ▼ 21.4% |
| Furniture and vehicles24 | - | - | €30k | €43k | ▲ 44.7% |
| Financial fixed assets28 | €205 | €205 | €205 | €205 | = |
| Current assets29/58 | €1.45M | €2.90M | €2.70M | €3.16M | ▲ 16.8% |
| Amounts receivable after more than one year29 | - | - | €150k | €50k | ▼ 66.7% |
| Other amounts receivable291 | - | - | €150k | €50k | ▼ 66.7% |
| Stocks and contracts in progress3 | €1.17M | €2.61M | €2.11M | €2.24M | ▲ 6.3% |
| Stocks30/36 | €1.17M | €2.61M | €2.11M | €2.24M | ▲ 6.3% |
| Amounts receivable within one year40/41 | €51k | €20k | €36k | €71k | ▲ 97.6% |
| Trade receivables40 | €50k | €13k | €18k | €11k | ▼ 42.9% |
| Other amounts receivable41 | €629 | €7k | €18k | €61k | ▲ 246% |
| Cash at bank and in hand54/58 | €226k | €267k | €401k | €786k | ▲ 96.3% |
| Deferred charges and accrued income490/1 | €835 | €4k | €8k | €9k | ▲ 3.1% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €2.17M | €4.85M | €4.98M | €5.19M | ▲ 4.3% |
| Equity10/15 | €31k | €46k | €152k | €235k | ▲ 54.5% |
| Contributions10/11 | €20k | €20k | €20k | €20k | = |
| Profit (loss) carried forward14 | €11k | €26k | €132k | €215k | ▲ 62.8% |
| Amounts payable17/49 | €2.14M | €4.81M | €4.83M | €4.96M | ▲ 2.7% |
| Amounts payable after more than one year17 | €1.35M | €3.44M | €4.31M | €4.18M | ▼ 3.2% |
| Financial debts170/4 | €433k | €1.34M | €2.28M | €2.54M | ▲ 11.4% |
| Other amounts payable178/9 | €920k | €2.10M | €2.04M | €1.64M | ▼ 19.5% |
| Amounts payable within one year42/48 | €789k | €1.37M | €507k | €775k | ▲ 53.0% |
| Current portion of amounts payable after more than one year42 | €33k | €43k | €146k | €181k | ▲ 24.3% |
| Financial debts43 | €730k | €1.15M | €198k | €216k | ▲ 8.9% |
| Credit institutions430/8 | €730k | €1.15M | €198k | €216k | ▲ 8.9% |
| Trade debts44 | €3k | €26k | €101k | €117k | ▲ 16.3% |
| Suppliers440/4 | €3k | €26k | €101k | €117k | ▲ 16.3% |
| Advances received on contracts in progress46 | - | €105k | €0 | - | - |
| Taxes, remuneration and social security45 | €7k | €12k | €49k | €15k | ▼ 69.4% |
| Taxes450/3 | €5k | €9k | €36k | €1k | ▼ 96.2% |
| Remuneration and social security454/9 | €2k | €2k | €14k | €14k | ▲ 0.2% |
| Other amounts payable47/48 | €15k | €32k | €13k | €246k | ▲ 1,777% |
| Accrued charges and deferred income492/3 | - | - | €10k | €9k | ▼ 14.9% |
| Line | 2021 | 2022 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €11k | €14k | €106k | €323k | ▲ 203% |
| + Depreciation and write-downs630 | €7k | €33k | €178k | €122k | ▼ 31.7% |
| Operating cash flow (approximation) | €18k | €47k | €285k | €445k | ▲ 56.1% |
| Investment in fixed assets (approximation) | - | €-1.27M | - | €118k | - |
| Change in cash | - | €41k | - | €386k | - |
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
29-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-09
Financial
Highest result since 2021net €323k ▲203%
Operating result €516k, net result €323k, both a record.
30-09
Financial
Equity above €200kEq €235k ▲54.5%
4 profitable years in a row build equity to €235k.
30-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-09
Financial
Liquidity triplescurrent ratio 5.34
Current ratio from 2.11 to 5.34; short-term debt falls from €1.37M to €507k.
30-09
Financial
Equity above €150kEq €152k ▲234%
3 profitable years in a row build equity to €152k.
2023
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
2022
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 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, Herve · 1 establishment unit since 2020
Ground area
3,351 m²
Building footprint
263 m²
Parcel 63085B0257/00B000, Wallonia. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
MRJ
since 20202.309.158.640
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 63085B0257/00B000 | Wallonia | 3,351 m² | 1 · 262 m² | - |
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 7,321 companies in sector 68110 we hold annual accounts for 5,384. 3,859 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
Founded11-05-2020
Fiscal year end30-09
Activities, NACEBEL 2025
68110Buying and selling of own real estate
Scores and ratios are computed by Checked and are not a credit decision.