MWG - Construct
ActiveSummary
The computed 12-month bankruptcy probability of MWG - Construct is 19.9% (high). The 2024 annual accounts show equity of €47,872 and a net result of €4,801. Equity has been growing by about 30% per year since 2021. Its solvency ranks better than 28% of 9,836 sector peers (NACE 41, financial year 2024). The company has been active since 2020 and the Belgian Official Gazette contains no insolvency signals. The KBO does carry 1 administrative register entry.
Overview
Overview
Official details
Source: KBO- Status
- Active since 02-03-2020 Normal situation
- Legal form
- Private limited company
- Activity
- General construction of other non-residential buildings NACE 41003and 6 others
- Establishment unit
- 2.299.749.343 since 02-03-2020
- Financial year end
- 31 December
- Peppol
- Reachable since 08-01-2026
Financial position
- Bankruptcy probabilitywithin 12 months
- 19.9%
- Gross margin
- €35,373
- ▼ 48.2%
- Turnover
- ≈ €240,000
- estimated
- Profit
- €4,801
- ▲ 147%
- Equity
- €47,872
- ▲ 21.5%
- Total assets
- €228,076
- ▲ 18.9%
- Staff
- ≈ 0 FTE
- estimated
- 2025 accounts not filed, 94 days past the deadline
Score breakdownraises risk1 change of registered office in 24 monthsFigures for financial year 2024 (filed on 02-09-2025)Ex-officio strike-off in the KBO1 financial year not filed after the legal deadline; last filed accounts filed 31 days late; 2 of the last 3 accounts lateShow the evidence
Checked score
About 1 in 5 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 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 41, micro). It does better than 28% of them on solvency, 12% on liquidity, 36% on profitability and 65% on growth.
The bankruptcy probability was computed on 01-11-2026 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. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 4 accounts on average 41 days after the deadline. In the sector (NACE 41), the median for financial year 2024 was on the deadline day, and 46% of those companies filed late.
Financials
Financials · financial year 2024, micro format
2025 annual accounts not yet filed, deadline passed on 31 July 2026 The financial year closed on 31 December 2025. The accounts are due at the latest 7 months after the close (Companies Code art. 3:10). Source: NBB filings, as of 2 November 2026.
Annual accounts 2024 filed on 31-08-2025 PDF all 4 filings
2021 to 2024, 4 financial years
The operating result for 2024 is 6% higher than in 2023. It is a recovery after the fall in 2023.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Average staff per financial year, in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Construction of residential and non-residential buildings (NACE 41). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio and return on assets (ROA).
Staff
| Item | 31-12-2022 | 31-12-2023 |
|---|---|---|
| Employees at the balance-sheet date | 1 | - |
| full-time | 1 | - |
| in full-time equivalents | 1 | - |
| Average over the year, in full-time equivalents | 0.5 | 1 |
| On a permanent contract | 1 | - |
| Joined | 1 | - |
| Left | 0 | - |
Source: social balance sheet in the 2022 to 2023 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Tangible fixed assets | €31,309 | €27,105 | €43,004 | €1,518 |
| Depreciation and write-downs of the year | €10,473 | €4,172 | €9,129 | €14,517 |
Source: notes to the 2021 to 2024 annual accounts (statement of fixed assets)
Comparable companies
These companies have the same main activity as MWG - Construct: general construction of other non-residential buildings (NACE 41003). They are comparable in size and age: total assets between €160,000 and €273,000, founded between 2019 and 2021.
| Company | Founded | Total assets | Equity | Gross margin | Turnover | Net result | Financial year |
|---|---|---|---|---|---|---|---|
| MWG - Construct | 2020 | €228,076 | €47,872 | €35,373 | - | €4,801 | 2024 |
| QUALIS DESIGN Overijse | 2019 | €261,204 | -€86,708 | €35,446 | - | -€22,975 | 2024 |
| HOLLMAN Sint-Pieters-Leeuw | 2020 | €273,178 | €168,144 | €42,723 | - | €26,866 | 2024 |
| PRAEDIUM Wommelgem | 2021 | €218,110 | €18,316 | €43,973 | - | €28,981 | 2025 |
| Vermassen Bert Zottegem | 2020 | €165,640 | €88,019 | €39,213 | - | €26,412 | 2025 |
| MARECO Antwerpen | 2020 | €160,490 | €105,451 | €30,140 | - | €7,901 | 2025 |
| MED-INVEST Zaventem | 2021 | €227,656 | €62,211 | €28,591 | €92,237 | €5,302 | 2024 |
They were chosen from the 1,026 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity
Companies with the same profile, two years later
Historical observationIn July 2024, 3,274 companies had the same profile as MWG - Construct has now. Two years later, 2.5% had gone bankrupt and 94.7% were still going.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
Another 0.3% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of MWG - Construct itself is higher: 19.9% within 12 months. It rests on far more data about MWG - Construct than the profile alone.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 3,274 companies, not a prediction for MWG - Construct. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
| Line | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €28,072 | €31,324 | - | - |
| Remuneration, social security and pensions62 | - | €17,177 | €41,841 | €1,159 | ▼ 97.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10,473 | €4,172 | €9,129 | €14,517 | ▲ 59.0% |
| Other operating charges640/8 | €4,486 | €2,451 | €2,677 | €4,127 | ▲ 54.1% |
| Non-recurring operating charges66A | - | €20,121 | - | - | - |
| Gross operating margin9900 | €26,371 | €95,819 | €68,278 | €35,373 | ▼ 48.2% |
| Operating profit (loss)9901 | €11,413 | €51,898 | €14,630 | €15,571 | ▲ 6.4% |
| Financial income75/76B | €12 | €1,541 | €1,233 | €3 | ▼ 99.7% |
| Recurring financial income75 | €12 | €1,541 | €1,233 | €3 | ▼ 99.7% |
| Financial charges65/66B | €3,601 | €8,350 | €10,869 | €5,797 | ▼ 46.7% |
| Recurring financial charges65 | €3,601 | €8,350 | €10,869 | €5,797 | ▼ 46.7% |
| Profit (loss) for the period before taxes9903 | €7,824 | €45,090 | €4,994 | €9,777 | ▲ 95.8% |
| Income taxes67/77 | €4,322 | €12,145 | €3,051 | €4,977 | ▲ 63.1% |
| Profit (loss) for the period9904 | €3,502 | €32,946 | €1,942 | €4,801 | ▲ 147% |
| Profit (loss) for the period to be appropriated9905 | €3,502 | €32,946 | €1,942 | €4,801 | ▲ 147% |
| Line | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €95,727 | €151,686 | €191,853 | €228,076 | ▲ 18.9% |
| Fixed assets21/28 | €20,836 | €23,648 | €62,242 | €49,243 | ▼ 20.9% |
| Tangible fixed assets22/27 | €20,836 | €23,648 | €62,242 | €49,243 | ▼ 20.9% |
| Plant, machinery and equipment23 | €715 | €10,880 | €14,023 | €12,795 | ▼ 8.8% |
| Furniture and vehicles24 | €20,121 | €10,295 | €44,611 | €33,107 | ▼ 25.8% |
| Other tangible fixed assets26 | - | €2,472 | €3,607 | €3,342 | ▼ 7.3% |
| Current assets29/58 | €74,890 | €128,038 | €129,611 | €178,832 | ▲ 38.0% |
| Amounts receivable after more than one year29 | - | - | €2,500 | - | - |
| Trade receivables290 | - | - | €2,500 | - | - |
| Stocks and contracts in progress3 | €55,240 | €23,870 | €72,930 | €25,455 | ▼ 65.1% |
| Contracts in progress37 | €55,240 | €23,870 | €72,930 | €25,455 | ▼ 65.1% |
| Amounts receivable within one year40/41 | €15,541 | €60,072 | €51,864 | €144,082 | ▲ 178% |
| Trade receivables40 | - | €23,281 | €8,387 | €125,381 | ▲ 15× |
| Other amounts receivable41 | €15,541 | €36,790 | €43,477 | €18,701 | ▼ 57.0% |
| Cash at bank and in hand54/58 | €1 | €43,999 | €2,318 | €4,729 | ▲ 104% |
| Deferred charges and accrued income490/1 | €4,108 | €98 | - | €4,567 | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €95,727 | €151,686 | €191,853 | €228,076 | ▲ 18.9% |
| Equity10/15 | €4,502 | €37,447 | €39,390 | €47,872 | ▲ 21.5% |
| Contributions10/11 | €1,000 | €1,000 | €1,000 | €1,000 | = |
| Contributions outside capital11 | €1,000 | €1,000 | €1,000 | - | - |
| Other1109/19 | €1,000 | €1,000 | €1,000 | - | - |
| Reserves13 | - | €32,000 | €32,000 | €40,482 | ▲ 26.5% |
| Distributable reserves133 | - | €32,000 | €32,000 | €40,482 | ▲ 26.5% |
| Profit (loss) carried forward14 | €3,502 | €4,447 | €6,390 | €6,390 | = |
| Amounts payable17/49 | €91,225 | €114,239 | €152,464 | €180,204 | ▲ 18.2% |
| Amounts payable after more than one year17 | €31,609 | €30,262 | €20,268 | €15,355 | ▼ 24.2% |
| Financial debts170/4 | €31,609 | €30,262 | €20,268 | €15,355 | ▼ 24.2% |
| Amounts payable within one year42/48 | €59,616 | €83,977 | €132,196 | €164,849 | ▲ 24.7% |
| Current portion of amounts payable after more than one year42 | €10,680 | €25,310 | €17,695 | €25,890 | ▲ 46.3% |
| Financial debts43 | €38,220 | €10,122 | - | €49,896 | - |
| Credit institutions430/8 | €38,220 | €10,122 | - | €49,896 | - |
| Trade debts44 | €3,895 | €21,705 | €104,583 | €55,382 | ▼ 47.0% |
| Suppliers440/4 | €3,895 | €21,705 | €104,583 | €55,382 | ▼ 47.0% |
| Taxes, remuneration and social security45 | €6,821 | €26,839 | €9,918 | €6,659 | ▼ 32.9% |
| Taxes450/3 | €4,322 | €22,590 | €3,967 | €4,533 | ▲ 14.3% |
| Remuneration and social security454/9 | €2,499 | €4,249 | €5,951 | €2,125 | ▼ 64.3% |
| Other amounts payable47/48 | - | - | - | €27,023 | - |
| Line | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,502 | €32,946 | €1,942 | €4,801 | ▲ 147% |
| + Depreciation and write-downs630 | €10,473 | €4,172 | €9,129 | €14,517 | ▲ 59.0% |
| Operating cash flow (approximation) | €13,974 | €37,117 | €11,071 | €19,318 | ▲ 74.5% |
| Investment in fixed assets (approximation) | - | -€6,983 | -€47,723 | -€1,518 | ▲ 96.8% |
| Change in cash | - | €43,997 | -€41,681 | €2,412 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Board & ownership
Directors
Owners and capital
Owners
Network & group
MWG - Construct shares no director with another company.
Companies at the same address
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Connections & network
1 current directorThe network starts from the directors of MWG - Construct. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
10-12
Gazette deed
Registered office moved from Herselt to Brussel2 points ▸
- General meeting, 17-11-2025
- Registered-office move, Louizalaan 143 bus 4 te 1050 Brussel
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
Invoicing and payment
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. Use the enterprise number 0744.632.871
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21807G0089/00A007 | Brussels | 1,907 m² | 1 · 1,788 m² | 32.0 m · 2 |