Equity
-€3,492
Debts exceed assets in financial year 2025.
MRV
Lifetime
11 annual accounts with figures on one time axispeak €51,268 (2022)
€37,745▲ 44.3%
lowest -€64,689 (2023)
-€5,999▲ €13,209
peak €86,404 (2022)
-€3,492▼ €5,999
€298,640▼ 6.4%
Board2 names since 2014
2 directorsHeleyn Anja and 1 other
Documentsfilings and deeds
31-03-202630 days before the deadline
2025micro format
Gross margin from €26,166 to €37,745Loss of €5,999Equity from €2,507 to -€3,492Cash from €4,178 to €340
Key points
from the 2025 annual accountsLosses
-€89,897 in three years
Every financial year from 2023 to 2025 closed with a loss. 2023 was the heaviest.
Turnover
≈ €230,000 estimated
The micro format states no turnover.
Debts
€298,640 101% of the balance sheet
Financial debts 67%Suppliers 2%Taxes and wages 4%Other 27%
Of this, €96,828 falls due within a year.
Filings
11 annual accounts since 2015
The 2016 accounts came 2 days late. The other nine of the last ten were filed on time.
Position in the sector
-€3,492
Less equity than 91% of companies in specialised construction. Sector median €57,703 · 35,137 companies.
Checked score
53
Fair
Financially stronger than 15% of micro companies in specialised construction (NACE 43)
Probability in this band: 1.5% to 4.2%
Negative equity caps the score at 59.
Bankruptcy probability within 12 months
1.3% Low
0%0.5%1.5%4%10%≥ 25%
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).
Last 24 months
12-2024: 1.4%
01-2025: 1.5%▲ +0.1 percentage points vs 12-2024
02-2025: 1.5%● unchanged vs 01-2025
03-2025: 1.4%▼ -0.1 percentage points vs 02-2025
04-2025: 1.5%▲ +0.1 percentage points vs 03-2025
05-2025: 1.0%▼ -0.5 percentage points vs 04-2025
06-2025: 1.0%● unchanged vs 05-2025
07-2025: 1.0%● unchanged vs 06-2025
08-2025: 1.0%● unchanged vs 07-2025
09-2025: 1.0%● unchanged vs 08-2025
10-2025: 0.9%▼ -0.1 percentage points vs 09-2025
11-2025: 0.9%● unchanged vs 10-2025
12-2025: 0.9%● unchanged vs 11-2025
01-2026: 0.9%● unchanged vs 12-2025
02-2026: 0.9%● unchanged vs 01-2026
03-2026: 0.8%▼ -0.1 percentage points vs 02-2026lowest value
04-2026: 1.5%▲ +0.7 percentage points vs 03-2026highest value
05-2026: 1.5%● unchanged vs 04-2026highest value
06-2026: 1.3%▼ -0.2 percentage points vs 05-2026
07-2026: 1.3%● unchanged vs 06-2026
08-2026: 1.3%● unchanged vs 07-2026
09-2026: 1.3%● unchanged vs 08-2026
10-2026: 1.3%● unchanged vs 09-2026
11-2026: 1.3%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Capped at 59: negative equity
Liquidity: current ratio 0.46, cash €340, halved
Negative equity -€3,492
Sector: Specialised construction activities (NACE 43)
lowers risk
Size: total assets €295,148
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 43, micro). It does better than 8% of them on solvency, 24% on liquidity, 27% on profitability and 2% 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 30-09-2025.
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).
Comparable companies, two years later
In July 2024, 2,333 companies had the same profile as MRV has now. Each dot stands for 6 companies, two years later.
90.5%
were still trading
5.8%
stopped another way
2.8%
went bankrupt
Another 0.8% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of MRV itself: 1.3% within 12 months.
Test of the method
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 2,333 companies, not a prediction for MRV. 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 verdict
No credit on open account
Liquidity is insufficient, with a current ratio of 0.46 (0.42 in 2024), below 1. Short-term debt is 32.8% and cash 0.1% of total assets. Equity is negative.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year -€3,492
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 31-03-2026, 30 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
30 days early
2024
28 days early
2023
36 days early
2022
30 days early
2021
8 days early
2020
3 days early
2019
27 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 23 days before 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.
Searched, nothing found (2)
neutral · Next filing not due yet
The financial year that closed on 30-09-2026 is due by 30-04-2027. Nothing is late today. The company usually files around 31 March (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
30-09-2026 year end10-11-2026 today30-04-2027 deadline
Board and ownership
HA
Heleyn Anja
Director, since 15-09-2014
VJ
Vanleeuwe Jochen
Director, since 15-09-2014
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0562820922
Legal-form change · Resignations & appointments
Gazette deed
Incorporation
published on 30-09-2014 · Gazette deed
First establishment
Eikstraat 7, Gavere
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| MRV Gavere | €295,148 | €37,745 | -1.2% | - |
| KRISTOF DE ZUTTER Sint-Gillis-Waas | €335,929 | €32,837 | 30.7% | - |
| VORMGEVERS Ronse | €269,311 | €42,503 | 10.3% | - |
| Algemene Schrijnwerken Kristof De Cocker Ghent | €270,366 | €43,926 | 92.9% | - |
| POLLET STEVE Aalter | €293,133 | €50,096 | 66.5% | - |
| BJORN WOUTERS Bilzen-Hoeselt | €272,984 | €36,201 | 9.0% | 0.2 |
| ALUwPROJECTS Bonheiden | €294,605 | €44,028 | 31.5% | - |
These companies have the same main activity as MRV: joinery installation (NACE 43320). They are comparable in size and age: total assets between €269,000 and €336,000, founded between 2013 and 2015.
Official details
Source: KBO- Status
- Active since 15-09-2014Normal situation
- Activity
- Joinery installationNACE 43320and 4 others
- Establishment unit
- 2.236.349.8469890 Gavere, since 15-09-2014
- Financial year end
- 30 September
- Peppol
- Reachable since 30-01-2025
Annual accounts to 30-09-2025
- €295,148▼ 8.2%
- Filing
- Filed on 31-03-2026, 30 days before the end of the filing period
Insights on MRV
MRV files the micro format. That format states no turnover. The gross margin rose from €18,123 in 2015 to €37,745 in 2025.
The balance sheet grew most from 2021 to 2022 through fixed assets, financed with long-term debt.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about MRV
- What is the company number of MRV?
- The company number of MRV is 0562.820.922. The VAT number is the same number with BE in front: BE 0562.820.922.
- Where is MRV based?
- The registered office is at Eikstraat 7, 9890 Gavere.Company details
- What does MRV do?
- According to the KBO register, the main activity is joinery installation (NACE 43320).
- What is the legal form of MRV?
- MRV is a private limited company (BV).
- When was MRV founded?
- MRV was founded on 15-09-2014.
- Is MRV still active?
- Yes, MRV is an active enterprise in the KBO register.
- What is the turnover of MRV?
- The turnover in financial year 2025 is ≈ €230,000. This figure is estimated from the gross margin of €37,745 and 32 comparable companies (NACE 43320). It probably lies between €170,000 and €390,000.Financials
- Is MRV profitable?
- In financial year 2025, MRV made a loss of €5,999.
- Where can I find the annual accounts of MRV?
- MRV filed 11 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of MRV due?
- MRV must file the annual accounts for financial year 2026 by 30-04-2027.Timeline
Next steps
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