MUSTANG & CO

Active

Private limited companyfounded 200817 yrs activeHandelslaan(P.E) 15, 7850 Enghien, BelgiumKBO/BCE: BE 0807.655.058

MUSTANG & CO has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €209k and a net result of €17k. Equity is growing by ~6.9% per year across the filed fiscal years. Its solvency ranks better than 20% of 574 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.0% (low).

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Checked score

Score 2024

36 / 100

Weak▼ -12 vs 2023

The score combines four axes. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability41▼-59

Solvency16▲+3

Growth52▼-26

Stability100

Bankruptcy probability, 12 months

1.0% Low

0%0.5%1.5%4%10%≥ 25%

Credit up to €8k at 30 days only on tighter terms

Liquidity short (current ratio 0.96 against 0.92 in 2023), and 91.5% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Seven signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Higher-failure-rate sector

In this sector companies fail more often than the Belgian average.

Gazette · bankruptcies per sector, NACE 47

Relative position

BE, all sectors

reference

Sector 47

higher

← fewer bankruptcies more bankruptcies →

Multiple establishment units

Several establishment units mean more fixed costs, and such companies fail more often than a company with one establishment.

KBO · establishment units

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

Higher-failure-rate region

In this region companies fail more often than in the rest of the country.

KBO · registered office

Weak solvency vs sector

Solvency (equity / total assets) is in the sector's weakest quartile: better than 20% of 574 sector peers (2024).

NBB · sector comparison

Position among 574 sector peers

Solvency

better than 20%

← weakest strongest →

Filed after the deadline

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-10-2025, 90 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

90 d late

2023

7 d late

2022

102 d late

2021

52 d late

2020

33 d early

2019

39 d late

← before the deadline after the deadline →

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

Financials · fiscal year 2024, full schema

Turnover

Not included in this filing

EBIT margin

Not included in this filing

Net result

€17k▼ 93.5%

2023 · €266k

2018: €60k 2019: €128k 2020: €28k 2021: €609 2022: €15k 2023: €266k

2018 → 2024

Working capital

€-43k▲ 72.9%

2023 · €-159k

2018: €98k 2019: €174k 2020: €209k 2021: €-28k 2022: €-105k 2023: €-159k

2018 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20202021202220232024Trend

Equity€207k-€208k▲ 0.3%€223k▲ 7.0%€191k▼ 14.0%€209k▲ 9.0%

Operating result€67k-€16k▼ 76.3%€47k▲ 194%€406k▲ 763%€82k▼ 79.7%

Net result€28k-€609▼ 97.8%€15k▲ 2,301%€266k▲ 1,716%€17k▼ 93.5%

Result per fiscal year

Operating resultNet result

The operating result falls in 2024; 2024 is 80% below 2023.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €2.46M

54.7%

45.3%

Fixed assets €1.35M▼ 0.3%

Current assets €1.11M▼ 37.4%

Equity and liabilities €2.46M

91.5%

Equity €209k▲ 9.0%

Debt €2.25M▼ 23.3%

The debt ratio falls from 93.9% to 91.5%: equity grows while debt is paid down.

Key figures and ratios

2024 value · change against 2023

EBITDA

€196k▼

2023 · €511k

Cash flow

€131k▼

2023 · €371k

Solvency

8.5%▲

2023 · 6.1%

Current ratio

0.96▲

2023 · 0.92

Quick ratio

0.02▼

2023 · 0.39

Debt / equity

10.80▼

2023 · 15.35

ROE

8.2%▼

2023 · 138.8%

ROA

0.7%▼

2023 · 8.5%

Interest coverage

4.03▼

2023 · 6.98

Debt

€2.25M▼

2023 · €2.94M

Debt ≤ 1 year

€1.16M▼

2023 · €1.94M

Debt > 1 year

€1.09M▲

2023 · €1,000k

Income taxes

€17k▼

2023 · €95k

Staff costs

€184k▲

2023 · €141k

Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.

Filed annual accounts

As filed with the NBB · 2024 against 2023

Balance sheet Code20232024

Assets

Total assets20/58€3.13M€2.46M▼

Fixed assets21/28€1.35M€1.35M▼

Intangible fixed assets21€2k€1k▼

Tangible fixed assets22/27€1.35M€1.35M▼

Land and buildings22€1.04M€1.04M▲

Plant, machinery and equipment23€75k€58k▼

Furniture and vehicles24€35k€27k▼

Leasing and similar rights25-€32k

Other tangible fixed assets26€203k€184k▼

Financial fixed assets28€186€0▼

Current assets29/58€1.78M€1.11M▼

Stocks and contracts in progress3€1.02M€1.10M▲

Stocks30/36€1.02M€1.10M▲

Amounts receivable within one year40/41€544k€9k▼

Trade receivables40€537k€6k▼

Other amounts receivable41€8k€3k▼

Cash at bank and in hand54/58€196k€2k▼

Deferred charges and accrued income490/1€18k€8k▼

Equity and liabilities

Total equity and liabilities10/49€3.13M€2.46M▼

Equity10/15€191k€209k▲

Contributions10/11€19k€19k=

Reserves13€172k€172k=

Non-distributable reserves130/1€0-

Reserves not available under the articles1311€0-

Distributable reserves133€172k€172k=

Profit (loss) carried forward14€609€18k▲

Amounts payable17/49€2.94M€2.25M▼

Amounts payable after more than one year17€1,000k€1.09M▲

Financial debts170/4€1,000k€1.09M▲

Amounts payable within one year42/48€1.94M€1.16M▼

Current portion of amounts payable after more than one year42€108k€41▼

Financial debts43€431k€146k▼

Credit institutions430/8€431k€146k▼

Trade debts44€601k€90k▼

Suppliers440/4€601k€90k▼

Advances received on contracts in progress46€359k€721k▲

Taxes, remuneration and social security45€133k€189k▲

Taxes450/3€106k€176k▲

Remuneration and social security454/9€27k€13k▼

Other amounts payable47/48€307k€12k▼

Accrued charges and deferred income492/3€789€789=

Income statement Code20232024

Remuneration, social security and pensions62€141k€184k▲

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€105k€114k▲

Other operating charges640/8€16k€18k▲

Gross operating margin9900€668k€398k▼

Operating profit (loss)9901€406k€82k▼

Financial income75/76B€28k€515▼

Recurring financial income75€28k€515▼

Financial charges65/66B€73k€49k▼

Recurring financial charges65€73k€49k▼

Profit (loss) for the period before taxes9903€361k€34k▼

Income taxes67/77€95k€17k▼

Profit (loss) for the period9904€266k€17k▼

Profit (loss) for the period to be appropriated9905€266k€17k▼

Appropriation of the result

Profit (loss) to be appropriated9906€266k€18k▼

Profit (loss) brought forward from the previous period14P€609€609=

Transfer from equity791/2€31k€0▼

Transfer to equity691/2€0-

To other reserves6921€0-

Profit to be distributed694/7€297k€0▼

Return on contributions (dividend)694€297k€0▼

Social balance

Average headcount (FTE)9087-2.0

The notes to these accounts (16 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 15Financial 5Filings 10

2025

29-10

NBB filing Annual accounts filed

fiscal year 2024 · full schema · 90 days late

2024

31-12

Financial Equity above €200kEq €209k ▲9%

7 profitable years in a row build equity to €209k.

07-08

NBB filing Annual accounts filed

fiscal year 2023 · abbreviated schema · 7 days late

2023

31-12

Financial Highest result since 2018net €266k ▲1716%

Operating result €406k, net result €266k, both a record.

10-11

NBB filing Annual accounts filed

fiscal year 2022 · full schema · 102 days late

2022

21-09

NBB filing Annual accounts filed

fiscal year 2021 · full schema · 52 days late

2021

31-12

Financial Weakest financial yearnet €609 ▼97.8%

Net result drops to €609, the lowest in the series; recovery starts the following year.

28-06

NBB filing Annual accounts filed

fiscal year 2020 · abbreviated schema

2020

31-12

Financial Equity above €200kEq €207k ▲15.7%

3 profitable years in a row build equity to €207k.

08-09

NBB filing Annual accounts filed

fiscal year 2019 · abbreviated schema · 39 days late

2019

31-12

Financial Equity above €150kEq €179k ▲247%

2 profitable years in a row build equity to €179k.

29-08

NBB filing Annual accounts filed

fiscal year 2018 · full schema · 29 days late

2018

27-09

NBB filing Annual accounts filed

fiscal year 2017 · micro schema · 58 days late

2017

24-08

NBB filing Annual accounts filed

fiscal year 2016 · micro schema · 24 days late

2016

31-08

NBB filing Annual accounts filed

fiscal year 2015 · full schema · 31 days late

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

7 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, Enghien · 2 establishment units since 2009

establishment All 2 establishment units on the map

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Handelslaan(P.E) 157850 Enghien

Ground area

2,912 m²

Building footprint

999 m²

Volume, LiDAR

5,660 m³

2 parcels, Flanders, Wallonia · tallest building 7.4 m, ±2 floors. Linked by address, not a title deed.

2 establishment units

MUSTANG & CO

Handelslaan(P.E) 15, 7850 EnghienNACE 45111

since 20092.178.747.781

MUSTANG & CO

Bergensesteenweg 392, 1600 Sint-Pieters-LeeuwNACE 45111

since 20202.299.449.930

2 parcels

Flanders 1 (50%) Wallonia 1 (50%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
55033D0020/00Z000	Wallonia	2,704 m²	1 · 777 m²	7.4 m · 2 fl.
23582E0394/00H000	Flanders	208 m²	1 · 223 m²	4.6 m · 1 fl.

Linked by address, not proof of ownership

Methodology

via registered seat: 1 · via establishment units: 1

2 of 2 parcels with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Public money · subsidies and aid

Flemish government

2022 to 2024 · 3 entries · 9,575 EUR awarded · 9,575 EUR paid

Year	Entries	awarded	paid
2024	1	4,305 EUR	4,305 EUR
2022	2	5,270 EUR	5,270 EUR

Schemes

Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)

2 entries · 7,575 EUR · 7,575 EUR paid · Fonds voor Innoveren en Ondernemen

Hinderpremie bij openbare werken

1 entry · 2,000 EUR · 2,000 EUR paid · Fonds voor Innoveren en Ondernemen

Recognitions · licences · registrations

Legal Entity Identifier

549300OAEBZC2CTPLK25

live in the LEI register

Similar companies · same sector, comparable size

Tessenderlo-Ham · Eq €209k

GARAGE - CARROSSERIE BAETSLE

BE 0423.330.170

Assenede · Eq €209k

Gebroeders Rasschaert

Of 10,618 companies in sector 47811 we hold annual accounts for 5,192. 3,714 are within a factor 10 of this equity.See the whole sector

Company data · Crossroads Bank

Identification

Legal formPrivate limited company

Founded07-11-2008

Fiscal year end31-12

Activities, NACEBEL

47811Retail sale of cars and light vans (up to 3.5 tonnes)

95311General maintenance and repair of cars and light vans (up to 3.5 tonnes)

95312Repair and maintenance of computers, personal and household goods, and motor vehicles and motorcycles

45204

77110Renting and leasing of cars and light motor vehicles

95314Bodywork repair (including spraying and painting)

Sources

Crossroads Bank for EnterprisesNational Bank · 16 filingsAddress and cadastre registers

Data from official sources, last processed on 14-09-2026. Scores and ratios are computed by Checked and are not a credit decision.