MURPROTEC
ActiveSummary
MURPROTEC has been active since 1983 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €8.3m and a net result of €6.9m. Equity is growing by about 4.5% per year across the filed financial years. Its solvency ranks better than 55% of 2,435 sector peers (NACE 43, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Overview
Activity
Insulation installation
NACE 43230Specialised construction activities NACE 43421
Largest company by total assets in Braine-le-Château, Construction sector6 sites
Size
€45.0mturnover 2025
- Staff
- 48.3 FTE
- Equity
- €8.3m
- Profit
- €6.9m
Structure
- Parent
- MURPRO GROUP · 100%
Auditor: DGST & PARTNERS2025 accounts 14 days early3 of 11 deeds summarised
Why 98raises riskSector: Specialised construction activities (NACE 43)lowers riskLiquidity: current ratio 1.94, cash €6.7mFounded in 1983Size: turnover €45.0m, 48.3 FTE, total assets €18.1mShow the evidence
Checked score
Score 2025
98
/ 100
Excellent
Probability in this band: under 0.55%
Financially better than 84% of its sector peers (NACE 43, small)
Financial strength · tick = 2024
Strong
Solvency
71+39
equity 45.8% of total assets
Liquidity
76+30
short-term debt 43.0% · cash 37.0%
Profitability
100+1
return on assets 38.2%
Bankruptcy probability, 12 months
< 0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
11-2024: 0.2%
12-2024: 0.2%● unchanged vs 11-2024
01-2025: 0.2%● unchanged vs 12-2024
02-2025: 0.2%● unchanged vs 01-2025
03-2025: 0.2%● unchanged vs 02-2025
04-2025: 0.2%● unchanged vs 03-2025
05-2025: 0.2%● unchanged vs 04-2025
06-2025: 0.2%● unchanged vs 05-2025
07-2025: 0.2%● unchanged vs 06-2025
08-2025: 0.2%● unchanged vs 07-2025highest value
09-2025: 0.2%● unchanged vs 08-2025highest value
10-2025: 0.2%● unchanged vs 09-2025highest value
11-2025: 0.2%● unchanged vs 10-2025highest value
12-2025: 0.2%● unchanged vs 11-2025highest value
01-2026: 0.2%● unchanged vs 12-2025highest value
02-2026: 0.2%● unchanged vs 01-2026
03-2026: 0.2%● unchanged vs 02-2026
04-2026: 0.2%● unchanged vs 03-2026
05-2026: 0.2%● unchanged vs 04-2026
06-2026: 0.2%● unchanged vs 05-2026
07-2026: 0.2%● unchanged vs 06-2026
08-2026: < 0.1%▼ -0.2 percentage points vs 07-2026lowest value
09-2026: < 0.1%● unchanged vs 08-2026lowest value
10-2026: < 0.1%● unchanged vs 09-2026lowest value
Credit of up to €800,000 on 30-day terms is acceptable
Liquidity ample (current ratio 1.94, compared with 1.09 in 2024, above the usual 1.5; short-term debt: 43% and cash: 37% of total assets), but 54.2% of the assets are financed with debt and provisions.
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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, small): better than 62% on solvency, 89% on liquidity, 98% on profitability and 89% on growth.
The bankruptcy probability was computed on 26-10-2026 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.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
Credit check for your own amount and term
Show the recommended maximum and see how the verdict changes with amount, term and advance.
Signals
Five signals.
lowers riskraises riskneutral
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 17-07-2026, 14 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
14 days early
2024
24 days early
2023
40 days early
2022
34 days early
2021
41 days early
2020
15 days early
2019
11 days late
← 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 22 days before the deadline; the sector median (NACE 43) for financial year 2024 is 1 day before the deadline, and 43% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 27 June (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsWhere today falls in the filing period
27-10-2026 today31-12-2026 year end31-07-2027 deadline
- Annual accounts filedfinancial year 2025 · full…
- Highest result from 2018 to 2025net €6.9m ▲32.8%
- Equity above €5mequity €8.3m ▲502%
Financials · financial year 2025, full format
In the rankings
#1 company by total assets in Braine-le-Château, Construction sector#2 company by equity in Walloon Brabant, Specialised construction sector#4 oldest company in Braine-le-Château, Construction sector
Turnover
€45.0m▲ 15.6%
2024 · €39.0m
EBIT margin
21.0%▲ 2.8pp
2024 · 18.2%
Net result
€6.9m▲ 32.8%
2024 · €5.2m
Working capital
€7.3m▲ 414%
2024 · €1.4m
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result has risen four years in a row; 2025 is 33% above 2024 and is the highest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Turnover€45.0m
2025
Operating result€9.4m
2025
Net result€6.9m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€18.1m
2025
Equity€8.3m
2025
Debt€8.2m
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€7.3m
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
EBIT margin21.0%
2025
Return on assets (ROA)38.2%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency45.8%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio1.94
2025
Average staff in full-time equivalents (FTE).
Staff (FTE)48.3
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 43, Specialised construction activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€10.6m-€9.2m▼ 13.4%€11.0m▲ 20.0%€16.6m▲ 51.3%€22.4m▲ 34.4%€26.8m▲ 19.8%€39.0m▲ 45.3%€45.0m▲ 15.6%
Operating result€0.7m--€0.08m€2.0m€2.5m▲ 27.4%€3.7m▲ 47.1%€4.0m▲ 8.0%€7.1m▲ 75.6%€9.4m▲ 33.4%
Net result€0.4m--€0.1m€1.5mabove the sector's middle half€1.8mabove the sector's middle half▲ 21.6%€2.8mabove the sector's middle half▲ 50.9%€3.0mabove the sector's middle half▲ 7.6%€5.2mabove the sector's middle half▲ 75.1%€6.9mabove the sector's middle half▲ 32.8%
EBIT margin6.2%--0.9%▼ 7.1pp18.1%▲ 19.0pp15.2%▼ 2.9pp16.7%▲ 1.4pp15.0%▼ 1.6pp18.2%▲ 3.1pp21.0%▲ 2.8pp
Equity€1.9m-€1.7m▼ 7.2%€1.7mabove the sector's middle half▲ 0.2%€1.5mabove the sector's middle half▼ 10.0%€2.3mabove the sector's middle half▲ 49.0%€2.2mabove the sector's middle half▼ 5.7%€1.4mabove the sector's middle half▼ 36.8%€8.3mabove the sector's middle half▲ 502%
Total assets€5.3m-€5.0m▼ 4.9%€7.5mabove the sector's middle half▲ 50.1%€10.4mabove the sector's middle half▲ 38.9%€10.9mabove the sector's middle half▲ 4.8%€13.5mabove the sector's middle half▲ 23.2%€19.3mabove the sector's middle half▲ 43.3%€18.1mabove the sector's middle half▼ 6.4%
Debt€2.5m-€2.4m▼ 0.9%€4.9m▲ 99.6%€7.8m▲ 61.0%€7.4m▼ 5.3%€10.0m▲ 34.8%€16.4m▲ 64.7%€8.2m▼ 50.1%
Working capital€1.5m-€1.3m▼ 13.4%€1.3mabove the sector's middle half▼ 3.1%€0.8mabove the sector's middle half▼ 37.9%€3.0mabove the sector's middle half▲ 283%€2.5mabove the sector's middle half▼ 17.0%€1.4mabove the sector's middle half▼ 43.5%€7.3mabove the sector's middle half▲ 414%
Solvency35.2%-34.4%▼ 0.8pp22.9%within the sector's middle half▼ 11.4pp14.9%below the sector's middle half▼ 8.1pp21.1%within the sector's middle half▲ 6.3pp16.2%below the sector's middle half▼ 5.0pp7.1%below the sector's middle half▼ 9.0pp45.8%within the sector's middle half▲ 38.7pp
Current ratio1.75-1.63▼ 0.121.28within the sector's middle half▼ 0.351.11below the sector's middle half▼ 0.171.56within the sector's middle half▲ 0.451.30within the sector's middle half▼ 0.261.09below the sector's middle half▼ 0.201.94within the sector's middle half▲ 0.84
Return on assets (ROA)7.8%--2.7%▼ 10.5pp20.0%above the sector's middle half▲ 22.7pp17.5%above the sector's middle half▼ 2.5pp25.2%above the sector's middle half▲ 7.7pp22.0%above the sector's middle half▼ 3.2pp26.9%above the sector's middle half▲ 4.9pp38.2%above the sector's middle half▲ 11.3pp
Staff (FTE)38.7-34.6▼ 10.6%32.8above the sector's middle half▼ 5.2%46.2above the sector's middle half▲ 40.9%41above the sector's middle half▼ 11.3%39above the sector's middle half▼ 4.9%46.1above the sector's middle half▲ 18.2%48.3above the sector's middle half▲ 4.8%
above
within
below
the middle half of NACE 43, Specialised construction activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €18.1m
Fixed assets
€3.0m ▲ 7.7%
Current assets
€15.0m ▼ 8.8%
Equity and liabilities €18.1m
Equity
€8.3m ▲ 502%
Provisions
€1.6m ▲ 5.6%
Debt
€8.2m ▼ 50.1%
Debt's share of the balance-sheet total falls from 85.2% to 45.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€9.9m▲
2024 · €7.4m
Cash flow
€7.3m▲
2024 · €5.5m
Quick ratio
1.84▲
2024 · 1.05
Debt to equity
0.99▼
2024 · 11.95
ROE
83.4%▼
2024 · 377.9%
Interest coverage
over 100
2024 · over 100
Debt ≤ 1 year
€7.8m▼
2024 · €15.1m
Debt > 1 year
€168,877▼
2024 · €201,090
Income taxes
€2.7m▲
2024 · €1.9m
Staff costs
€8.8m▲
2024 · €7.3m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 20,139 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95.0% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
4.7%
stopped otherwise
95.0%
still going
For this company itself Checked computes a bankruptcy probability of < 0.1% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,475 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% | 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 20,139 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 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €16.9m | €22.8m | €27.4m | €39.3m | €45.5m | ▲ 15.7% |
| Turnover70 | €10.6m | €9.2m | €11.0m | €16.6m | €22.4m | €26.8m | €39.0m | €45.0m | ▲ 15.6% |
| Other operating income74 | - | - | - | €0.3m | €0.4m | €0.5m | €0.4m | €0.5m | ▲ 23.2% |
| Operating charges60/66A | - | - | - | €14.4m | €19.1m | €23.3m | €32.3m | €36.0m | ▲ 11.8% |
| Goods for resale, raw materials and consumables60 | - | - | - | €1.8m | €2.6m | €3.2m | €4.6m | €5.2m | ▲ 11.7% |
| Purchases600/8 | - | - | - | €1.9m | €2.6m | €3.3m | €4.7m | €5.2m | ▲ 10.2% |
| Change in stocks: decrease (increase)609 | - | - | - | -€0.1m | -€0.04m | -€0.1m | -€0.1m | -€0.05m | ▲ 55.2% |
| Services and other goods61 | - | - | - | €7.3m | €11.3m | €14.6m | €19.7m | €21.5m | ▲ 9.0% |
| Remuneration, social security and pensions62 | - | - | - | €4.8m | €4.7m | €5.1m | €7.3m | €8.8m | ▲ 20.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.2m | €0.2m | €0.1m | €0.2m | €0.3m | €0.3m | €0.3m | €0.4m | ▲ 20.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €0.008m | -€0.03m | -€0.001m | €0.04m | €0.05m | ▲ 39.2% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | €0.1m | €0.2m | €0.09m | €0.2m | €0.08m | ▼ 53.1% |
| Other operating charges640/8 | - | - | - | €0.04m | €0.04m | €0.06m | €0.06m | €0.07m | ▲ 26.7% |
| Operating profit (loss)9901 | €0.7m | -€0.08m | €2.0m | €2.5m | €3.7m | €4.0m | €7.1m | €9.4m | ▲ 33.4% |
| Financial income75/76B | - | - | - | €0.007m | €0.003m | €0.01m | €0.09m | €0.2m | ▲ 89.5% |
| Recurring financial income75 | €0.004m | €0.005m | €0.002m | €0.007m | €0.003m | €0.01m | €0.09m | €0.2m | ▲ 89.5% |
| Income from current assets751 | - | - | - | - | - | €0.009m | €0.09m | €0.2m | ▲ 93.2% |
| Other financial income752/9 | - | - | - | €0.007m | €0.003m | €0.003m | €0.003m | €0.002m | ▼ 29.7% |
| Financial charges65/66B | - | - | - | €0.02m | €0.03m | €0.02m | €0.02m | €0.03m | ▲ 9.3% |
| Recurring financial charges65 | €0.02m | €0.02m | €0.01m | €0.02m | €0.03m | €0.02m | €0.02m | €0.03m | ▲ 9.3% |
| Debt charges650 | €0.01m | €0.01m | €0.008m | €0.007m | €0.009m | €0.007m | €0.004m | €0.004m | ▼ 11.1% |
| Other financial charges652/9 | - | - | - | €0.01m | €0.02m | €0.01m | €0.02m | €0.02m | ▲ 13.8% |
| Profit (loss) for the period before taxes9903 | €0.6m | -€0.09m | €2.0m | €2.5m | €3.7m | €4.0m | €7.1m | €9.6m | ▲ 34.2% |
| Income taxes67/77 | €0.2m | €0.04m | €0.5m | €0.7m | €0.9m | €1.1m | €1.9m | €2.7m | ▲ 37.8% |
| Taxes670/3 | - | - | - | €0.7m | €0.9m | €1.1m | €1.9m | €2.7m | ▲ 37.8% |
| Profit (loss) for the period9904 | €0.4m | -€0.1m | €1.5m | €1.8m | €2.8m | €3.0m | €5.2m | €6.9m | ▲ 32.8% |
| Profit (loss) for the period to be appropriated9905 | €0.4m | -€0.1m | €1.5m | €1.8m | €2.8m | €3.0m | €5.2m | €6.9m | ▲ 32.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €5.3m | €5.0m | €7.5m | €10.4m | €10.9m | €13.5m | €19.3m | €18.1m | ▼ 6.4% |
| Fixed assets21/28 | €1.7m | €1.6m | €1.7m | €2.6m | €2.5m | €2.5m | €2.8m | €3.0m | ▲ 7.7% |
| Intangible fixed assets21 | €0.007m | €0.02m | €0.1m | €0.1m | €0.1m | €0.07m | €0.03m | €0.01m | ▼ 55.6% |
| Tangible fixed assets22/27 | €1.7m | €1.6m | €1.6m | €2.4m | €2.4m | €2.5m | €2.7m | €3.0m | ▲ 8.2% |
| Land and buildings22 | - | - | - | €2.2m | €2.2m | €2.1m | €2.0m | €2.5m | ▲ 23.6% |
| Plant, machinery and equipment23 | - | - | - | €0.09m | €0.1m | €0.2m | €0.4m | €0.3m | ▼ 11.6% |
| Furniture and vehicles24 | - | - | - | €0.1m | €0.08m | €0.07m | €0.1m | €0.1m | ▲ 10.7% |
| Other tangible fixed assets26 | - | - | - | - | - | - | €0.04m | €0.04m | ▼ 9.4% |
| Assets under construction and advance payments27 | - | - | - | - | - | €0.04m | €0.2m | - | - |
| Financial fixed assets28 | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.03m | €0.04m | €0.04m | ▲ 14.4% |
| Other financial fixed assets284/8 | - | - | - | €0.02m | €0.02m | €0.03m | €0.04m | €0.04m | ▲ 14.4% |
| Amounts receivable and cash guarantees285/8 | - | - | - | €0.02m | €0.02m | €0.03m | €0.04m | €0.04m | ▲ 14.4% |
| Current assets29/58 | €3.5m | €3.4m | €5.8m | €7.9m | €8.4m | €10.9m | €16.5m | €15.0m | ▼ 8.8% |
| Stocks and contracts in progress3 | €0.3m | €0.3m | €0.3m | €0.5m | €0.5m | €0.6m | €0.7m | €0.8m | ▲ 6.4% |
| Stocks30/36 | - | - | - | €0.5m | €0.5m | €0.6m | €0.7m | €0.8m | ▲ 6.4% |
| Raw materials and consumables30/31 | - | - | - | €0.03m | €0.02m | - | - | - | - |
| Goods purchased for resale34 | - | - | - | €0.4m | €0.5m | €0.6m | €0.7m | €0.8m | ▲ 6.4% |
| Amounts receivable within one year40/41 | €1.3m | €1.3m | €2.7m | €3.8m | €2.5m | €3.7m | €4.5m | €3.5m | ▼ 22.0% |
| Trade receivables40 | - | - | - | €2.0m | €1.8m | €2.7m | €3.6m | €2.0m | ▼ 42.4% |
| Other amounts receivable41 | - | - | - | €1.8m | €0.7m | €1.0m | €0.9m | €1.5m | ▲ 55.3% |
| Current investments50/53 | €0.2m | €0.8m | €0.7m | €0.5m | €2.0m | €2.4m | €5.2m | €3.8m | ▼ 27.3% |
| Other investments51/53 | - | - | - | €0.5m | €2.0m | €2.4m | €5.2m | €3.8m | ▼ 27.3% |
| Cash at bank and in hand54/58 | €1.5m | €0.8m | €2.0m | €2.9m | €3.3m | €4.1m | €5.9m | €6.7m | ▲ 12.9% |
| Deferred charges and accrued income490/1 | - | - | - | €0.1m | €0.2m | €0.2m | €0.2m | €0.3m | ▲ 81.9% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €5.3m | €5.0m | €7.5m | €10.4m | €10.9m | €13.5m | €19.3m | €18.1m | ▼ 6.4% |
| Equity10/15 | €1.9m | €1.7m | €1.7m | €1.5m | €2.3m | €2.2m | €1.4m | €8.3m | ▲ 502% |
| Contributions10/11 | €0.06m | €0.06m | €0.06m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Capital10 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Issued capital100 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Contributions outside capital11 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Share premium1100/10 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Reserves13 | €1.7m | €1.6m | €1.6m | €1.4m | €2.2m | €2.1m | €1.3m | €8.2m | ▲ 550% |
| Non-distributable reserves130/1 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Legal reserve130 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Distributable reserves133 | - | - | - | €1.4m | €2.2m | €2.1m | €1.3m | €8.2m | ▲ 552% |
| Profit (loss) carried forward14 | €0.008m | €0.005m | €0.008m | €0.005m | €0.005m | €0.002m | €0.001m | €0.002m | ▲ 47.1% |
| Provisions and deferred taxes16 | €1.0m | €0.8m | €0.9m | €1.1m | €1.2m | €1.3m | €1.5m | €1.6m | ▲ 5.6% |
| Provisions for liabilities and charges160/5 | - | - | - | €1.1m | €1.2m | €1.3m | €1.5m | €1.6m | ▲ 5.6% |
| Other liabilities and charges164/5 | - | - | - | €1.1m | €1.2m | €1.3m | €1.5m | €1.6m | ▲ 5.6% |
| Amounts payable17/49 | €2.5m | €2.4m | €4.9m | €7.8m | €7.4m | €10.0m | €16.4m | €8.2m | ▼ 50.1% |
| Amounts payable after more than one year17 | €0.3m | €0.2m | €0.2m | €0.4m | €0.3m | €0.2m | €0.2m | €0.2m | ▼ 16.0% |
| Financial debts170/4 | - | - | - | €0.4m | €0.3m | €0.2m | €0.2m | €0.2m | ▼ 16.0% |
| Credit institutions173 | - | - | - | €0.4m | €0.3m | €0.2m | €0.2m | €0.2m | ▼ 16.0% |
| Amounts payable within one year42/48 | €2.0m | €2.1m | €4.5m | €7.1m | €5.4m | €8.4m | €15.1m | €7.8m | ▼ 48.5% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.1m | €0.1m | €0.07m | €0.03m | €0.03m | ▲ 1.6% |
| Trade debts44 | €1.4m | €1.2m | €2.2m | €3.9m | €2.4m | €4.1m | €7.0m | €4.7m | ▼ 33.1% |
| Suppliers440/4 | - | - | - | €3.9m | €2.4m | €4.1m | €7.0m | €4.7m | ▼ 33.1% |
| Advances received on contracts in progress46 | - | - | - | - | - | - | - | €1.2m | - |
| Taxes, remuneration and social security45 | - | - | - | €1.1m | €0.8m | €1.2m | €2.0m | €1.9m | ▼ 7.2% |
| Taxes450/3 | - | - | - | €0.3m | €0.4m | €0.3m | €0.7m | €0.4m | ▼ 50.4% |
| Remuneration and social security454/9 | - | - | - | €0.8m | €0.5m | €0.9m | €1.3m | €1.5m | ▲ 17.1% |
| Other amounts payable47/48 | - | - | - | €2.0m | €2.0m | €3.1m | €6.0m | €0.009m | ▼ 99.9% |
| Accrued charges and deferred income492/3 | - | - | - | €0.4m | €1.7m | €1.3m | €1.2m | €0.3m | ▼ 75.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.4m | -€0.1m | €1.5m | €1.8m | €2.8m | €3.0m | €5.2m | €6.9m | ▲ 32.8% |
| + Depreciation and write-downs630 | €0.2m | €0.2m | €0.1m | €0.2m | €0.3m | €0.3m | €0.3m | €0.4m | ▲ 20.1% |
| Operating cash flow (approximation) | €0.6m | €0.02m | €1.6m | €2.0m | €3.0m | €3.3m | €5.5m | €7.3m | ▲ 32.0% |
| Investment in fixed assets (approximation) | - | -€0.04m | -€0.2m | -€1.1m | -€0.2m | -€0.3m | -€0.6m | -€0.6m | ▼ 3.1% |
| Change in cash | - | -€0.7m | €1.1m | €0.9m | €0.4m | €0.8m | €1.9m | €0.8m | ▼ 58.9% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 42 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | full format | 17-07-2026 | 2026-00303372 |
| 31-12-2024 | full format | 07-07-2025 | 2025-00235828 |
| 31-12-2023 | full format | 21-06-2024 | 2024-00147868 |
| 31-12-2022 | full format | 27-06-2023 | 2023-00161251 |
| 31-12-2021 | full format | 20-06-2022 | 2022-20073338 |
| 31-12-2020 | full format | 16-07-2021 | 2021-35800534 |
| 31-12-2019 | full format | 11-08-2020 | 2020-40200063 |
| 31-12-2018 | full format | 26-06-2019 | 2019-23000198 |
| 31-12-2017 | full format | 26-06-2018 | 2018-22200252 |
| 31-12-2016 | full format | 12-07-2017 | 2017-29700411 |
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Of the 4,213 active companies whose main activity is insulation installation (NACE 43230), figures are known for 1,267. 95 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Directors
1 office holder, last change in 2025
Day-to-day management 1
Olivier BLANCQUAERT
CurrentDay-to-day manager · since 15-10-2025
Statutory auditor 1
DGST & PARTNERS
CurrentRéviseur d'entreprise · since 15-10-2025 · permanent representative: Michaël DE RIDDER
Derived from published Gazette deeds. The KBO keeps the official list of office holders; we do not read it, so the two can differ.
See the directors and other office holders in the KBO →
Not every act has been read: a resignation may still be missing
8 of this company's 11 Belgian Official Gazette deeds have not been read yet. Appointments and resignations recorded in them are not yet in the list of directors: someone who resigned there may still be listed as sitting. The acts are in the Timeline.
Mandate history
2 people since 2025, 2 in office
- Day-to-day management
- Statutory auditor
| Name | Functions and periods |
|---|---|
| Olivier BLANCQUAERT |
|
| DGST & PARTNERS |
|
Owners and capital
Owners
1 ownerChain of control
- MURPRO GROUP
- MURPROTEC
Highest known parent: MURPRO GROUP. The sources do not say who stands above it.
Owners 1
- MURPRO GROUPparent100%
Sources: the companies' annual accounts, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not include these statements in its annual accounts, or does not have to, is not listed.
Group and network
Connections & network
4 connected companiesThis company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Linked via shared directors
AIRPROTEC
via Olivier BLANCQUAERT · Day-to-day manager
→
AQUADETECT
via Olivier BLANCQUAERT · Day-to-day manager
→
MURPROTEC QUALITY SERVICE
via Olivier BLANCQUAERT · Day-to-day manager
→
MURPROTEC SERVICES
via Olivier BLANCQUAERT · Day-to-day manager
→
History
Acts, filings and financial milestones
Next filing, financial year 2026, expected by
2026
17-07
NBB filing
Annual accounts filed
financial year 2025 · full format
2025
31-12
Financial
Highest result from 2018 to 2025net €6.9m ▲32.8%
Operating result €9.4m, net result €6.9m, both a record.
31-12
Financial
Equity above €5mequity €8.3m ▲502%
6 profitable years in a row build equity to €8.3m.
15-10
Gazette deed
Reappointment: DGST & Partners (réviseur d'entreprise)Permanent representative: Michaël DE RIDDER3 facts ▸
Gazette deed
Reappointment: DGST & Partners (réviseur d'entreprise)
Permanent representative: Michaël DE RIDDER3 facts ▸
- General meeting, 10-06-2025
- Auditor reappointment, DGST & Partners (réviseur d'entreprise)
- Permanent representative, Michaël DE RIDDER
15-10
Gazette deed
Appointment: Olivier BLANCQUAERT (day-to-day manager)2 facts ▸
Gazette deed
Appointment: Olivier BLANCQUAERT (day-to-day manager)
2 facts ▸
- Board meeting, 01-10-2025
- Director appointment, Olivier BLANCQUAERT (day-to-day manager)
07-07
NBB filing
Annual accounts filed
financial year 2024 · full format
2024
21-06
NBB filing
Annual accounts filed
financial year 2023 · full format
2023
27-06
NBB filing
Annual accounts filed
financial year 2022 · full format
09-05
Gazette deed
Permanent representative: Didier TESNIEREAmendment of the articles · Capital · Registered office clause7 facts ▸
Gazette deed
Permanent representative: Didier TESNIERE
Amendment of the articles · Capital · Registered office clause7 facts ▸
- General meeting, “assemblée générale extraordinaire des actionnaires” (deed in French)
- Amendment of the articles (2 times)
- Capital, €61,500
- Registered office clause, “1440 Wauthier-Braine (Braine-le-Château),Parc Industriel,27” (deed in French)
- Power of attorney
- Permanent representative, Didier TESNIERE
- Director in office, MURPRO GROUP (société administratrice)
2022
31-12
Financial
Equity above €2mequity €2.3m ▲49%
3 profitable years in a row build equity to €2.3m.
20-06
NBB filing
Annual accounts filed
financial year 2021 · full format
2021
16-07
NBB filing
Annual accounts filed
financial year 2020 · full format
Show earlier events
2020
31-12
Financial
Back to profitnet €1.5m
Net result €1.5m after one loss-making year.
11-08
NBB filing
Annual accounts filed
financial year 2019 · full format · 11 days late
2019
31-12
Financial
Weakest financial yearnet -€133,447
Net result drops to -€133,447, the lowest in the series; recovery starts the following year.
26-06
NBB filing
Annual accounts filed
financial year 2018 · full format
2018
26-06
NBB filing
Annual accounts filed
financial year 2017 · full format
2017
12-07
NBB filing
Annual accounts filed
financial year 2016 · full format
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.Of the 42 annual accounts filed, the latest 10 are here; all 42 are under Financials.
3 of 11 deeds read
About the unread acts
Of the 11 Belgian Official Gazette deeds we know for this company, 3 have been read. The other 8 have not been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Register details
Identification
Legal formPublic limited company
Founded16-09-1983
Financial year end31-12
Activities, NACEBEL 2025
43230Insulation installation
43421Specialised construction activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0424850991
Registered
21-10-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 27 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice, with enterprise number 0424.850.991
Recognitions · licences · registrations
Legal Entity Identifier
699400Q5S2PI9QERCX28
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
Location & real-estate footprint
Registered office, Braine-le-Château · 6 establishment units since 1983
Ground area
1.7 ha
Building footprint
6,704 m²
Building volume
46,793 m³
5 parcels, Flanders, Wallonia · tallest building 26.8 m. Linked by address, not a title deed.
6 establishment units
Avenue de l'Industrie 22, 1420 Braine-l'Alleud
since 1983unit no. 2.023.769.792
MURPROTEC
since 2014unit no. 2.232.705.418
MURPROTEC
since 2015unit no. 2.239.125.927
MURPROTEC
since 2015unit no. 2.239.633.097
MURPROTEC
since 2021unit no. 2.324.253.226
MURPROTEC
since 2021unit no. 2.324.253.325
5 parcels
Flanders
2
(40%)
Wallonia
3
(60%)
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 71363C0296/00Y000 | Flanders | 7,135 m² | 1 · 3,887 m² | 26.8 m · 3 |
| 25743G0179/00G000 | Wallonia | 5,383 m² | 1 · 816 m² | 7.8 m · 2 |
| 25111A0681/00C002 | Wallonia | 2,047 m² | 1 · 745 m² | 6.7 m · 2 |
| 61068A0483/00T000 | Wallonia | 1,734 m² | 1 · 624 m² | 6.0 m · 2 |
| 44362B0288/00K014 | Flanders | 960 m² | 1 · 632 m² | 8.5 m · 2 |
How the parcels are linked
Good to know
All 5 parcels match the address exactly.
Articles of association
What the company does
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- MURPROTEC
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Région wallonne, Article 2: Siège” (deed in French)
Who represents it, and how
- Board ruleHow the board is made up, meets and takes decisions.
- “6 ans, 3” (deed in French)“Gratuite sauf décision contraire assemblée générale” (deed in French)1 more provision on this in the deed
Capital, shares and profit
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- “Entre vifs ou pour cause de mort actionnaire” (deed in French)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- Last Monday of May at 14:00
Oversight and winding up
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Organe d'administration en fonction comme collège de liquidateurs, liquidateurs nommés par assemblée générale” (deed in French)“Toutes opérations prévues par la loi, assemblée générale à majorité des voix” (deed in French)