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MST CONSTRUCT

Active
Private limited companyfounded 201412 yrs activeHeerbaan 181, 3582 Beringen, BelgiumKBO/BCE: BE 0555.909.770
Summary

The computed 12-month bankruptcy probability of MST CONSTRUCT is 10.3% (high). The 2024 annual accounts show equity of €52,039 and a net result of €27,801. Equity is growing by ~18.9% per year across the filed fiscal years. Its solvency ranks better than 91% of 9989 sector peers (fiscal year 2024). The company has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals.

Risk analysisWatch ReportCompare
MST CONSTRUCTActiveChecked score 36/100
Risk analysis ReportCompare

Overview

Activity
General construction of residential buildings
NACE 41001General construction of buildings NACE 41201
1 site
Size
€62,192total assets 2024
Equity
€52,039
Profit
€27,801
Turnover not published (abridged schema)
Financial health
36 Weak Checked score 2024
Bankruptcy chance 12 m
10.3%
Structure
Accounts 67 d overdue1 of 6 deeds read
Why 36- Figures for FY 2024 (filed 22-10-2025)- 1 change of registered office in 24 months- 1 financial year not filed after the legal deadline; latest accounts 76 days late; 1 of the last 3 late- Liquidity: current ratio 6.13, cash €1, halvedShow the evidence

Checked score

Score 2024
36 / 100
Weak
Probability in this band: 4.2% to 15.0%
Better than 79% of its sector peers (NACE 41, micro)
Performance against the sector, not lower risk
Every signal that weighs is under Signals.
Financial strength · tick = 2023
Strong
Solvency 100=
equity 83.7% of total assets
Liquidity 46+39
short-term debt 16.3% · cash 0.0%
Profitability 100+49
return on assets 44.7%
Bankruptcy probability, 12 months
10.3% High
0%0.5%1.5%4%10%≥ 25%

About 1 in 10 comparable companies go bankrupt within 12 months (an estimate).

Sector median 1.5% (13,373 companies)
Last 24 months 11-2024: 1.3% 12-2024: 1.3%● 0.0% vs 11-2024 01-2025: 1.2%▼ -13.0% vs 12-2024 02-2025: 1.1%▼ -1.5% vs 01-2025lowest value 03-2025: 1.2%▲ +2.7% vs 02-2025 04-2025: 1.2%▲ +5.7% vs 03-2025 05-2025: 1.3%▲ +2.0% vs 04-2025 06-2025: 1.2%▼ -3.2% vs 05-2025 07-2025: 1.3%▲ +5.6% vs 06-2025 08-2025: 1.6%▲ +20.7% vs 07-2025 09-2025: 1.8%▲ +15.5% vs 08-2025 10-2025: 3.0%▲ +65.2% vs 09-2025 11-2025: 2.7%▼ -9.9% vs 10-2025 12-2025: 2.7%● 0.0% vs 11-2025 01-2026: 2.7%▲ +0.8% vs 12-2025 02-2026: 2.7%● 0.0% vs 01-2026 03-2026: 2.7%▼ -1.9% vs 02-2026 04-2026: 2.2%▼ -16.7% vs 03-2026 05-2026: 2.2%▲ +0.6% vs 04-2026 06-2026: 4.7%▲ +112% vs 05-2026 07-2026: 4.7%▲ +0.1% vs 06-2026 08-2026: 5.5%▲ +15.8% vs 07-2026 09-2026: 6.6%▲ +20.4% vs 08-2026 10-2026: 10.3%▲ +55.8% vs 09-2026highest value
  • Figures for FY 2024 (filed 22-10-2025) raises the probability
  • 1 change of registered office in 24 months raises the probability
  • 1 financial year not filed after the legal deadline; latest accounts 76 days late; 1 of the last 3 late raises the probability
  • Liquidity: current ratio 6.13, cash €1, halved raises the probability
Credit up to €1,500 at 30 days only on tighter terms
Liquidity ample (current ratio 6.13; short-term debt: 16.3% and cash: 0% of total assets), and 16.3% of the assets are financed with debt.
How it is calculated

The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.

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%

Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (NACE 41, micro). Better than this share of them on solvency 92%, liquidity 45%, profitability 91%, growth against the median 90%. That is performance, not lower risk; the band itself always comes from the probability.

Bankruptcy probability: model pd-v3.202610021621, computed on 05-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.

Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.

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Signals

Five signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Figures for FY 2024 (filed 22-10-2025)
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
raises risk · 1 change of registered office in 24 months
In the bankruptcy model this factor raises the probability.
Belgian State Gazette
raises risk · 1 financial year not filed after the legal deadline; latest accounts 76 days late; 1 of the last 3 late
In the bankruptcy model this factor raises the probability.
NBB · filings
raises risk · Liquidity: current ratio 6.13, cash €1, halved
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 15-10-2025, 76 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filings
Deviation from the deadline
2025
not confirmed
2024
76 d late
2023
25 d late
2022
73 d early
2021
69 d late
2020
30 d late
2019
149 d late
← 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 46 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.

Checked, nothing found (1)
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage
  1. Resignation: Mitkov Stefan (director)Director discharge · Registered-office move
  2. Annual accounts filedfiscal year 2024 · micro…
  3. Highest result since 2018net €27,801 ▲2,012%

Key points

  • Caution: Accounts not fileddeadline was 31-07-2026 67 d late View
  • Positive: Among the best 10% on solvencysector median 42.3% · 9,989 companies 83.7% View
  • A director leftlatest change 21-05-2026 · 0 in office 1 left View
  • Positive: 5 profitable years in a rowprofit 2024: €27,801 5 years View

By topic

Financials

Fiscal year
2024
Total assets
€62,192
Profit
€27,801
Solvency
83.7%
Turnover▼ 96.4%
Net result
20182022
Go to Financials

Timeline

Events
14
Since
2016
  1. 21-05-2026Resignation: Mitkov Stefan (director)
  2. 15-10-2025Annual accounts filed
  3. 31-12-2024Highest result since 2018
Go to Timeline

Company details

Sites
1
Legal form
Private limited company
Activity
General construction of residential buildingsNACE 41001
Founded
10-07-2014
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

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