MUEN & CO
ActiveThe file of MUEN & CO contains 2 historical bankruptcy publications, as published in the Belgian State Gazette.
Summary
The computed 12-month bankruptcy probability is 1.4% (low). The 2024 annual accounts show equity of €212,942 and a net result of -€34,177. Equity remains stable across the filed fiscal years (±0.3% per year). Its solvency ranks better than 37% of 6719 sector peers (fiscal year 2024).
Checked score
Score 2024
Axes · tick = 2023
Profitability57▼-17
Solvency50▼-4
Growth22▼-13
Track record85
Bankruptcy probability, 12 months
1.4%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €8,000 at 30 days only on tighter terms
Liquidity short (current ratio 0.69 against 0.68 in 2023; short-term debt: 19.1% and cash: 0.4% of total assets), and 74.8% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 49
Relative position
BE, all sectors
reference
Land transport and transport via pipelines (NACE 49)
about 141% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
25.2%
Return on assets
-4%
Age of the figures
21 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2024Net result per financial year
18192021222324
2018 to 2024 · latest year -€34,177
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 18-05-2026, 291 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
291 d late
2023
67 d late
2022
88 d late
2021
185 d late
2020
271 d late
2019
7 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 149 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 49% of the sector filed late.
Checked, nothing found (1)
History
On 29 September 2008, MUEN & CO was incorporated.1 Altan Coban has served as non-statutory director of the company since 2026.2 Revenue went from EUR 838,141 in 2018 to EUR 86,505 in 2024 and headcount from 5.7 full-time equivalents in 2018 to 7.5 in 2020.3 The company was declared bankrupt on 31 October 2024.4
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Financials · fiscal year 2024, micro schema
Turnover
€86,505▼ 37.9%
2023 · €139,409
EBIT margin
-26.4%▼ 33.0pp
2023 · 6.6%
Net result
-€34,177▼ 628%
2023 · -€4,695
Working capital
-€49,528▼ 39.4%
2023 · -€35,531
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 49, Land transport and transport via pipelines, 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
Line20202021202220232024
Turnover€1.1m▲ 49.6%€735,668▼ 35.2%€179,153▼ 75.6%€139,409▼ 22.2%€86,505▼ 37.9%
Operating result€156,358€62,563▼ 60.0%-€22,732€9,167-€22,836
Net result€92,878above the sector's middle half€11,697within the sector's middle half▼ 87.4%-€28,687below the sector's middle half-€4,695below the sector's middle half▲ 83.6%-€34,177below the sector's middle half▼ 628%
EBIT margin13.8%▲ 16.1pp8.5%▼ 5.3pp-12.7%▼ 21.2pp6.6%▲ 19.3pp-26.4%▼ 33.0pp
Equity€268,803above the sector's middle half▲ 52.8%€280,500above the sector's middle half▲ 4.4%€251,813above the sector's middle half▼ 10.2%€247,118above the sector's middle half▼ 1.9%€212,942above the sector's middle half▼ 13.8%
Total assets€989,288above the sector's middle half▼ 3.4%€966,957above the sector's middle half▼ 2.3%€820,523above the sector's middle half▼ 15.1%€859,806above the sector's middle half▲ 4.8%€846,015above the sector's middle half▼ 1.6%
Debt€720,485▼ 15.1%€686,457▼ 4.7%€568,710▼ 17.2%€612,689▲ 7.7%€633,073▲ 3.3%
Working capital€138,323above the sector's middle half▲ 27.7%€105,612above the sector's middle half▼ 23.6%€4,220within the sector's middle half▼ 96.0%-€35,531below the sector's middle half-€49,528below the sector's middle half▼ 39.4%
Solvency27.2%within the sector's middle half▲ 10.0pp29.0%within the sector's middle half▲ 1.8pp30.7%within the sector's middle half▲ 1.7pp28.7%within the sector's middle half▼ 1.9pp25.2%within the sector's middle half▼ 3.6pp
Current ratio1.63within the sector's middle half▲ 0.271.50within the sector's middle half▼ 0.131.03within the sector's middle half▼ 0.470.68below the sector's middle half▼ 0.350.69below the sector's middle half▲ 0.01
Return on assets (ROA)9.4%within the sector's middle half▲ 13.4pp1.2%within the sector's middle half▼ 8.2pp-3.5%below the sector's middle half▼ 4.7pp-0.5%within the sector's middle half▲ 3.0pp-4.0%below the sector's middle half▼ 3.5pp
Staff (FTE)7.5above the sector's middle half▲ 19.0%
above
within
below
the middle half (P25 to P75) of NACE 49, Land transport and transport via pipelines, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2024: a loss of €22,836 after €9,167 in 2023, the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €846,015
Fixed assets
€733,747 ▼ 6.3%
Current assets
€112,268 ▲ 46.2%
Equity and liabilities €846,015
Equity
€212,942 ▼ 13.8%
Debt
€633,073 ▲ 3.3%
Debt's share of the balance-sheet total rises from 71.3% to 74.8%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€26,453▼
2023 · €72,399
Cash flow
€15,112▼
2023 · €58,537
Debt to equity
2.97▲
2023 · 2.48
ROE
-16.0%▼
2023 · -1.9%
Interest coverage
2.65▼
2023 · 5.22
Debt ≤ 1 year
€161,796▲
2023 · €112,302
Debt > 1 year
€471,277▼
2023 · €500,387
Income taxes
€1,368
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,423 companies that looked in July 2024 the way this one looks now, 1.0% went bankrupt within 24 months and 96% are still going.
- Small
- 10 to 20 years old
- solvency 10 to 30%
- a small loss
1.0%
went bankrupt
2.2%
stopped otherwise
96%
still going
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 1.4% 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 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
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 1,423 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €1.1m | €735,668 | €179,153 | €139,409 | €86,505 | ▼ 37.9% |
| Non-recurring operating income76A | - | - | - | €50,000 | - | - |
| Goods, raw materials, services and sundry goods60/61 | €579,252 | €523,584 | €139,974 | €106,502 | €60,052 | ▼ 43.6% |
| Remuneration, social security and pensions62 | €311,191 | €63,637 | - | -€78 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €50,784 | €51,466 | €58,526 | €63,232 | €49,289 | ▼ 22.1% |
| Other operating charges640/8 | €37,980 | €34,418 | €3,385 | €10,585 | - | - |
| Gross operating margin9900 | €556,313 | €212,085 | €39,179 | €82,906 | €26,453 | ▼ 68.1% |
| Operating profit (loss)9901 | €156,358 | €62,563 | -€22,732 | €9,167 | -€22,836 | ▼ 349% |
| Financial income75/76B | €200 | - | €3,155 | - | - | - |
| Recurring financial income75 | €200 | - | €3,155 | - | - | - |
| Financial charges65/66B | €22,387 | €13,198 | €9,110 | €13,862 | €9,973 | ▼ 28.1% |
| Recurring financial charges65 | €22,387 | €13,198 | €9,110 | €13,862 | €9,973 | ▼ 28.1% |
| Profit (loss) for the period before taxes9903 | €134,172 | €49,365 | -€28,687 | -€4,695 | -€32,809 | ▼ 599% |
| Income taxes67/77 | €41,294 | €37,668 | - | - | €1,368 | - |
| Profit (loss) for the period9904 | €92,878 | €11,697 | -€28,687 | -€4,695 | -€34,177 | ▼ 628% |
| Profit (loss) for the period to be appropriated9905 | €92,878 | €11,697 | -€28,687 | -€4,695 | -€34,177 | ▼ 628% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €989,288 | €966,957 | €820,523 | €859,806 | €846,015 | ▼ 1.6% |
| Fixed assets21/28 | €631,604 | €649,737 | €675,538 | €783,035 | €733,747 | ▼ 6.3% |
| Tangible fixed assets22/27 | €609,004 | €627,137 | €652,938 | €760,435 | €711,147 | ▼ 6.5% |
| Land and buildings22 | €105,705 | €460,743 | €445,481 | €434,387 | €434,387 | = |
| Plant, machinery and equipment23 | €156 | €104 | €4,159 | €3,107 | €2,107 | ▼ 32.2% |
| Furniture and vehicles24 | €137,009 | €166,290 | €123,970 | €322,942 | €274,653 | ▼ 15.0% |
| Assets under construction and advance payments27 | €366,133 | - | €79,327 | - | - | - |
| Financial fixed assets28 | €22,600 | €22,600 | €22,600 | €22,600 | €22,600 | = |
| Current assets29/58 | €357,684 | €317,219 | €144,985 | €76,771 | €112,268 | ▲ 46.2% |
| Amounts receivable within one year40/41 | €234,324 | €98,117 | €126,533 | €68,603 | €108,457 | ▲ 58.1% |
| Trade receivables40 | €184,794 | €39,235 | €22,833 | €65,303 | €107,561 | ▲ 64.7% |
| Other amounts receivable41 | €49,530 | €58,882 | €103,701 | €3,299 | €896 | ▼ 72.8% |
| Current investments50/53 | €14,259 | €52 | €52 | €52 | €52 | = |
| Cash at bank and in hand54/58 | €109,100 | €219,050 | €18,400 | €8,117 | €3,759 | ▼ 53.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €989,288 | €966,957 | €820,523 | €859,806 | €846,015 | ▼ 1.6% |
| Equity10/15 | €268,803 | €280,500 | €251,813 | €247,118 | €212,942 | ▼ 13.8% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €20,460 | €20,460 | = |
| Capital10 | €18,600 | €18,600 | €18,600 | - | - | - |
| Issued capital100 | €18,600 | €18,600 | €18,600 | - | - | - |
| Outside capital11 | - | - | - | €20,460 | - | - |
| Other1109/19 | - | - | - | €20,460 | - | - |
| Reserves13 | €14,238 | €14,238 | €14,238 | €12,378 | €12,378 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | - | - | - |
| Legal reserve130 | €1,860 | €1,860 | €1,860 | - | - | - |
| Distributable reserves133 | €12,378 | €12,378 | €12,378 | €12,378 | €12,378 | = |
| Profit (loss) carried forward14 | €235,965 | €247,662 | €218,975 | €214,280 | €180,104 | ▼ 15.9% |
| Amounts payable17/49 | €720,485 | €686,457 | €568,710 | €612,689 | €633,073 | ▲ 3.3% |
| Amounts payable after more than one year17 | €501,124 | €474,849 | €427,945 | €500,387 | €471,277 | ▼ 5.8% |
| Financial debts170/4 | €501,124 | €474,849 | €427,945 | €500,387 | €471,277 | ▼ 5.8% |
| Amounts payable within one year42/48 | €219,361 | €211,608 | €140,765 | €112,302 | €161,796 | ▲ 44.1% |
| Current portion of amounts payable after more than one year42 | €30,629 | €8,736 | €7,821 | €23,357 | €29,139 | ▲ 24.8% |
| Trade debts44 | €94,900 | €133,341 | €63,503 | - | €10,638 | - |
| Suppliers440/4 | €94,900 | €133,341 | €63,503 | - | €10,638 | - |
| Taxes, remuneration and social security45 | €93,832 | €69,530 | €69,440 | €43,765 | €1,836 | ▼ 95.8% |
| Taxes450/3 | €41,287 | €69,530 | €69,440 | €43,765 | €1,836 | ▼ 95.8% |
| Remuneration and social security454/9 | €52,545 | - | - | - | - | - |
| Other amounts payable47/48 | - | - | - | €45,180 | €120,183 | ▲ 166% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €92,878 | €11,697 | -€28,687 | -€4,695 | -€34,177 | ▼ 628% |
| + Depreciation and write-downs630 | €50,784 | €51,466 | €58,526 | €63,232 | €49,289 | ▼ 22.1% |
| Operating cash flow (approximation) | €143,661 | €63,164 | €29,839 | €58,537 | €15,112 | ▼ 74.2% |
| Investment in fixed assets (approximation) | - | -€69,600 | -€84,327 | -€170,730 | -€1 | ▲ 100.0% |
| Change in cash | - | €109,950 | -€200,650 | -€10,283 | -€4,358 | ▲ 57.6% |
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
2026
06-07
State Gazette act
Resignation: Enver Coban (non-statutory director)Appointment: Altan Coban (non-statutory director)3 facts ▸
State Gazette act
Resignation: Enver Coban (non-statutory director)
Appointment: Altan Coban (non-statutory director)3 facts ▸
- General meeting, 01-04-2026
- Director resignation, Enver Coban (non-statutory director)
- Director appointment, Altan Coban (non-statutory director)
18-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 291 days late
2024
10-12
Bankruptcy
Bankruptcy reversal
Ondernemingsrechtbank Antwerpen, afdeling Antwerpen · event 05-12-2024
02-12
Bankruptcy
Opening
Ondernemingsrechtbank Antwerpen, afdeling Antwerpen · event 31-10-2024
06-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 67 days late
2023
27-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 88 days late
01-02
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 185 days late
2022
28-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 271 days late
2020
31-12
Financial
Back to profitnet €92,878
Net result €92,878 after one loss-making year.
31-12
Financial
Equity above €200,000Eq €268,803 ▲52.8%
Equity rises from €175,925 to €268,803.
24-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
05-05
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 279 days late
Show earlier events
2019
31-12
Financial
Weakest financial yearnet -€41,107
Net result drops to -€41,107, the lowest in the series; recovery starts the following year.
14-03
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 226 days late
2018
24-01
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 177 days late
2016
30-06
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
SignalFinancial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 6 acts read
About the unread acts
Of the 6 Belgian State Gazette acts we know for this company, 1 has been read. The other 5 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 director, last change in 2026
Altan Coban
CurrentNon-statutory director · since 01-04-2026
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
5 of this company's 6 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Antwerpen · 1 establishment unit since 2008
Ground area
277 m²
Building footprint
250 m²
Volume, LiDAR
1,886 m³
2 parcels, Flanders · tallest building 15.4 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
CHOBAN
since 20082.173.803.355
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11422C0296/00E008 | Flanders | 166 m² | 1 · 139 m² | 10.4 m · 2 fl. |
| 11805E0459/00L002 | Flanders | 111 m² | 1 · 111 m² | 15.4 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Mandate history
2 people since 2026, 1 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Altan Coban |
|
| Enver Coban |
|
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | BENJAMIN VANDE CASTEELE POPULIERENLAAN 43,
2630 AARTSELAAR |
31-10-2024 → 05-12-2024 |
Structure & network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
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Shareholding
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Of 12,582 companies in sector 49410 we hold annual accounts for 8,203. 6,147 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
Founded29-09-2008
Fiscal year end31-12
Activities, NACEBEL 2025
49410Freight transport by road
42220Construction of utility projects for electricity and telecommunications
42990Civil engineering
52100Warehousing and storage
E-invoicing
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Register as of 29 September 2026 · Peppol Directory
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