MURO
ActiveSummary
MURO has been active since 1993 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €5,937 and a net result of -€5,933. Equity remains stable across the filed fiscal years (±1.2% per year). Its solvency ranks better than 40% of 3505 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-74
Solvency64▼-36
Growth32=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 74
Relative position
BE, all sectors
reference
Other professional, scientific and technical activities (NACE 74)
about 48% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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 · 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 2025Solvency, return and age of the figures
Solvency
39.4%
Return on assets
-39.3%
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 12-03-2026, 141 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
141 d early
2024
77 d early
2023
64 d early
2022
40 d early
2021
72 d early
2020
71 d early
2019
84 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 78 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 38% 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
€5,937▼ 92.3%
2024 · €76,616
Total assets
€15,082▼ 80.3%
2024 · €76,616
Net result
-€5,933
2024 · €3,146
Working capital
-€8,564
2020 · €39,994
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 74, Other professional, scientific and technical 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-€1,998▼ 6.6%-€3,354▼ 67.8%-€2,382▲ 29.0%€42-€7,615
Net result-€307within the sector's middle half▲ 83.8%-€1,612below the sector's middle half▼ 425%-€151within the sector's middle half▲ 90.6%€3,146within the sector's middle half-€5,933below the sector's middle half
Equity€75,233within the sector's middle half▼ 0.4%€73,621within the sector's middle half▼ 2.1%€73,470within the sector's middle half▼ 0.2%€76,616within the sector's middle half▲ 4.3%€5,937below the sector's middle half▼ 92.3%
Total assets€75,750within the sector's middle half▼ 0.8%€73,870within the sector's middle half▼ 2.5%€73,470within the sector's middle half▼ 0.5%€76,616within the sector's middle half▲ 4.3%€15,082below the sector's middle half▼ 80.3%
Debt€517▼ 39.5%€249▼ 51.7%€0▼ 100%€9,145
Working capital-€8,564
Solvency99.3%above the sector's middle half▲ 0.4pp99.7%above the sector's middle half▲ 0.3pp100.0%above the sector's middle half▲ 0.3pp100.0%above the sector's middle half=39.4%within the sector's middle half▼ 60.6pp
above
within
below
the middle half (P25 to P75) of NACE 74, Other professional, scientific and technical 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 turns negative in 2025: a loss of €7,615 after €42 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €15,082
Fixed assets
€14,501 ▼ 20.3%
Current assets
€582 ▼ 99.0%
Equity and liabilities €15,082
Equity
€5,937
Debt
€9,145
Debt finances 60.6% of the balance-sheet total.
Key figures and ratios
EBITDA
-€3,930▼
2024 · €3,727
Cash flow
-€2,248▼
2024 · €6,831
Current ratio
0.06
Debt to equity
1.54
ROE
-99.9%▼
2024 · 4.1%
ROA
-39.3%▼
2024 · 4.1%
Interest coverage
-87.15▼
2024 · 85.68
Debt ≤ 1 year
€9,145
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 5,827 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 84% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a loss of 10% of the balance sheet or more
1.5%
went bankrupt
14%
stopped otherwise
84%
still going
A further 0.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.3% 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 5,827 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,556 | €7,150 | €6,069 | €3,685 | €3,685 | = |
| Other operating charges640/8 | €667 | €673 | €739 | €761 | €833 | ▲ 9.6% |
| Gross operating margin9900 | €5,224 | €4,469 | €4,427 | €4,488 | -€3,097 | ▼ 169% |
| Operating profit (loss)9901 | -€1,998 | -€3,354 | -€2,382 | €42 | -€7,615 | ▼ 18,085% |
| Financial income75/76B | €1,728 | €1,799 | €2,286 | €3,147 | €1,727 | ▼ 45.1% |
| Recurring financial income75 | €1,728 | €1,799 | €2,286 | €3,147 | €1,727 | ▼ 45.1% |
| Financial charges65/66B | €37 | €57 | €55 | €44 | €45 | ▲ 3.7% |
| Recurring financial charges65 | €37 | €57 | €55 | €44 | €45 | ▲ 3.7% |
| Profit (loss) for the period before taxes9903 | -€307 | -€1,612 | -€151 | €3,146 | -€5,933 | ▼ 289% |
| Income taxes67/77 | €0 | - | - | - | - | - |
| Profit (loss) for the period9904 | -€307 | -€1,612 | -€151 | €3,146 | -€5,933 | ▼ 289% |
| Profit (loss) for the period to be appropriated9905 | -€307 | -€1,612 | -€151 | €3,146 | -€5,933 | ▼ 289% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €75,750 | €73,870 | €73,470 | €76,616 | €15,082 | ▼ 80.3% |
| Fixed assets21/28 | €35,090 | €27,939 | €21,870 | €18,185 | €14,501 | ▼ 20.3% |
| Tangible fixed assets22/27 | €34,966 | €27,815 | €21,746 | €18,061 | €14,377 | ▼ 20.4% |
| Land and buildings22 | €24,932 | €21,664 | €19,054 | €16,418 | €13,782 | ▼ 16.1% |
| Plant, machinery and equipment23 | €8,448 | €5,570 | €2,692 | €1,643 | €594 | ▼ 63.8% |
| Furniture and vehicles24 | €1,586 | €581 | €0 | - | - | - |
| Financial fixed assets28 | €124 | €124 | €124 | €124 | €124 | = |
| Current assets29/58 | €40,660 | €45,931 | €51,600 | €58,431 | €582 | ▼ 99.0% |
| Amounts receivable within one year40/41 | €1,728 | €36,799 | €44,281 | €56,363 | €0 | ▼ 100% |
| Other amounts receivable41 | €1,728 | €36,799 | €44,281 | €56,363 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €38,612 | €8,793 | €6,945 | €1,684 | €196 | ▼ 88.4% |
| Deferred charges and accrued income490/1 | €320 | €339 | €373 | €384 | €386 | ▲ 0.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €75,750 | €73,870 | €73,470 | €76,616 | €15,082 | ▼ 80.3% |
| Equity10/15 | €75,233 | €73,621 | €73,470 | €76,616 | €5,937 | ▼ 92.3% |
| Contributions10/11 | €71,000 | €71,000 | €71,000 | €71,000 | €11,000 | ▼ 84.5% |
| Outside capital11 | €71,000 | €71,000 | €71,000 | €71,000 | - | - |
| Other1109/19 | €71,000 | €71,000 | €71,000 | €71,000 | - | - |
| Reserves13 | €4,960 | €4,960 | €4,960 | €5,616 | €0 | ▼ 100% |
| Non-distributable reserves130/1 | €4,960 | €4,960 | €4,960 | €4,960 | €0 | ▼ 100% |
| Reserves not available under the articles1311 | €4,960 | €4,960 | €4,960 | €4,960 | €0 | ▼ 100% |
| Distributable reserves133 | - | - | - | €656 | €0 | ▼ 100% |
| Profit (loss) carried forward14 | -€727 | -€2,339 | -€2,490 | €0 | -€5,063 | - |
| Amounts payable17/49 | €517 | €249 | €0 | - | €9,145 | - |
| Amounts payable within one year42/48 | - | - | - | - | €9,145 | - |
| Other amounts payable47/48 | - | - | - | - | €9,145 | - |
| Accrued charges and deferred income492/3 | €517 | €249 | €0 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€307 | -€1,612 | -€151 | €3,146 | -€5,933 | ▼ 289% |
| + Depreciation and write-downs630 | €6,556 | €7,150 | €6,069 | €3,685 | €3,685 | = |
| Operating cash flow (approximation) | €6,249 | €5,538 | €5,919 | €6,831 | -€2,248 | ▼ 133% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€29,819 | -€1,847 | -€5,261 | -€1,489 | ▲ 71.7% |
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
12-03
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet -€5,933
Net result drops to -€5,933, the lowest in the series.
15-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €3,146
Net result €3,146 after 4 loss-making years.
28-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
21-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
20-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
21-05
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
08-05
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Liquidity times 21current ratio 224.51
Current ratio from 10.68 to 224.51; short-term debt falls from €4,540 to €180.
04-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
01-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
02-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Beveren-Kruibeke-Zwijndrecht · 1 establishment unit since 1993
Ground area
384 m²
Building footprint
101 m²
Volume, LiDAR
575 m³
Parcel 46502D0908/00B000, Flanders · tallest building 8.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Bosstraat(BEV) 17, 9120 Beveren-Kruibeke-Zwijndrecht
since 19932.062.122.307
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46502D0908/00B000 | Flanders | 384 m² | 1 · 101 m² | 8.4 m · 2 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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ARCHITECTENBUREAU JANSSENS
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BE 1027.811.802
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SCHOTTE & PARTNERS ARCHITECTES
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Of 14,138 companies in sector 74201 we hold annual accounts for 2,611. 861 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
Founded23-04-1993
Fiscal year end31-12
Activities, NACEBEL 2025
74201Photography, excluding press photography
E-invoicing
Reachable via Peppol
Peppol ID
0208:0449950633
Also
9925:BE0449950633
Registered
17-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.