Investments
€29,680 2.5 × depreciation
Green is investment, beige is depreciation.
MXM Construct
Overview
Lifetime
3 annual accounts with figures on one time axispeak €60,098 (2023)
€2,763▼ 92.1%
lowest -€12,535 (2025)
-€12,535▼ €33,970
peak €40,312 (2024)
€27,777▼ 31.1%
€42,909▲ 2.1%
Board2 names since 2023
1 directorACAR Ayhan
Documentsfilings and deeds
30-09-202661 days late
2025micro format
Gross margin from €35,192 to €2,763Loss of €12,535Equity from €40,312 to €27,777Investments €29,680Cash from €16,252 to €7,561
Key points
from the 2025 annual accountsFilings
3 annual accounts 61 days
Latest accounts filed late: after the legal deadline.
Position in the sector
-€12,535
Lower net result than 87% of companies in construction of buildings. Sector median €8,551 · 9,446 companies.
Checked score
47
Fair
Financially stronger than 33% of micro companies in construction of buildings (NACE 41)
Probability in this band: 1.5% to 4.2%
Bankruptcy probability within 12 months
4.3% Elevated
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 1.5% across 13,458 companies (NACE 41, micro).
About 4 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 3.1%
01-2025: 3.1%● unchanged vs 12-2024
02-2025: 3.1%● unchanged vs 01-2025
03-2025: 3.2%▲ +0.1 percentage points vs 02-2025
04-2025: 3.2%● unchanged vs 03-2025
05-2025: 3.2%● unchanged vs 04-2025
06-2025: 3.2%● unchanged vs 05-2025
07-2025: 3.2%● unchanged vs 06-2025
08-2025: 4.2%▲ +1.0 percentage point vs 07-2025
09-2025: 4.6%▲ +0.4 percentage points vs 08-2025highest value
10-2025: 2.7%▼ -1.9 percentage points vs 09-2025
11-2025: 2.7%● unchanged vs 10-2025
12-2025: 2.7%● unchanged vs 11-2025
01-2026: 2.6%▼ -0.1 percentage points vs 12-2025
02-2026: 2.6%● unchanged vs 01-2026
03-2026: 2.6%● unchanged vs 02-2026lowest value
04-2026: 2.6%● unchanged vs 03-2026
05-2026: 2.7%▲ +0.1 percentage points vs 04-2026
06-2026: 2.7%● unchanged vs 05-2026
07-2026: 2.8%▲ +0.1 percentage points vs 06-2026
08-2026: 3.5%▲ +0.7 percentage points vs 07-2026
09-2026: 3.8%▲ +0.3 percentage points vs 08-2026
10-2026: 4.3%▲ +0.5 percentage points vs 09-2026
11-2026: 4.3%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Sector: Construction of residential and non-residential buildings (NACE 41)
Last filed accounts filed 61 days late; 3 of the last 3 accounts late
Founded in 2023
Size: total assets €70,686
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 47% of them on solvency, 59% on liquidity, 12% on profitability and 15% on growth.
The bankruptcy probability was computed on 09-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the elevated class on 30-06-2025, 6.3% went bankrupt within twelve months.
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).
Comparable companies, two years later
In July 2024, 3,223 companies had the same profile as MXM Construct has now. Each dot stands for 9 companies, two years later.
87.8%
were still trading
8.7%
stopped another way
3.4%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of MXM Construct itself is higher: 4.3% within 12 months. It rests on far more data about MXM Construct than the profile alone.
Test of the method
The method was tested on the 497,447 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 3,223 companies, not a prediction for MXM 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.
Credit verdict
Credit of up to €1,000 on 30-day terms, only on tighter conditions: elevated estimated bankruptcy probability calls for adjusted credit terms
Liquidity is ample, with a current ratio of 2.28 (2.31 in 2024), above the usual 1.5. Short-term debt is 23.7% and cash 10.7% of total assets. However, 60.7% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
raises risk
raises risk · 2025 accounts filed 61 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-09-2026, 61 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 3 filingsDeviation from the deadline
2025
61 days late
2024
60 days late
2023
48 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 3 accounts on average 56 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.
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 29 September (3 of the last 3 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- HILAL Sedat 250 sharesdeed of 23-02-2023
- ACAR Ayhan 250 sharesdeed of 23-02-2023
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0798670680
Resignation: Sedat Hilal (director)
Director discharge: Sedat Hilal · General meeting of 07-05-2024 · Gazette deed
Incorporation
Founding capital of €5,000, 500 shares · Founders: HILAL Sedat and ACAR Ayhan · Appointments: HILAL Sedat (director) and ACAR Ayhan (director) · published on 23-02-2023 · Gazette deed
First establishment
Trompetvogelstraat 71, Antwerp
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| MXM Construct Antwerp | €70,686 | €2,763 | 39.3% | - |
| BiKo Solutions Antwerp | €57,563 | €2,695 | 11.7% | - |
| BATI-LO Overijse | €65,894 | €2,537 | 11.3% | - |
| Algemene bouw- en vloerwerken De Jaeger Staden | €65,067 | €3,153 | 7.7% | - |
| WHITE ROCK Grimbergen | €83,379 | €2,944 | 14.8% | - |
| SOLU-SERVICES Tinlot | €56,953 | €2,619 | -42.2% | - |
| HGM CONSTRUCT Sint-Pieters-Leeuw | €62,143 | €3,454 | 74.5% | - |
These companies have the same main activity as MXM Construct: general construction of residential buildings (NACE 41001). They are comparable in size and age: total assets between €57,000 and €83,400, founded between 2022 and 2023.
Official details
Source: KBO- Status
- Active since 21-02-2023Normal situation
- Activity
- General construction of residential buildingsNACE 41001and 2 others
- Establishment unit
- 2.342.337.7862170 Antwerp, since 21-02-2023
- Financial year end
- 31 December
- Peppol
- Reachable since 05-01-2026
Annual accounts 2025
- €2,763▼ 92.1%
- ≈ €33,000estimated
- €12,535
- €27,777▼ 31.1%
- €70,686▼ 14.2%
- Filing
- Filed on 30-09-2026
Insights on MXM Construct
MXM Construct files the micro format. That format states no turnover. The gross margin fell from €60,098 in 2023 to €2,763 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Financials
Annual accounts 2025
micro format, filed on 30-09-2026, 61 days late€2,763
▼ 92.1%
-€10,662
▼ €38,131
-€12,535
▼ €33,970
€21,494
▼ 44.0%
39.3%
▼ 9.7 percentage points
2.28
▼ 0.03
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €33,000. Estimated: probably between €17,000 and €60,000.
Balance sheet
balance sheet total €70,686 on 31-12-2025What the company ownsHow it is paid for
in euro
in euro
Position in the sector
39.3%
Higher than 46% of 9,456 companies in 2025.
2.28
Higher than 64% of 9,204 companies in 2025.
-17.7%
Higher than 9% of 9,276 companies in 2025.
MXM Construct
Middle half of the sector
80% of the sector
Micro accounts in construction of buildings (NACE 41)
Net result: bottom quarter · Equity: middle half · Balance sheet total: middle half · Working capital: middle half
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Balance sheet: assets | ||||
20/58 |
70,686 | 82,353 | 62,198 | |
21/28 |
32,426 | 14,627 | 21,364 | |
22/27 |
32,426 | 14,627 | 21,364 | |
24 |
32,426 | 14,627 | 21,364 | |
29/58 |
38,260 | 67,727 | 40,834 | |
40/41 |
30,282 | 51,310 | 21,072 | |
40 |
830 | 51,310 | 19,969 | |
41 |
29,452 | 0 | 1,103 | |
54/58 |
7,561 | 16,252 | 19,608 | |
490/1 |
416 | 165 | 155 | |
| Balance sheet: equity and liabilities | ||||
10/49 |
70,686 | 82,353 | 62,198 | |
10/15 |
27,777 | 40,312 | 18,876 | |
10/11 |
5,000 | 5,000 | 5,000 | |
13 |
22,777 | 35,312 | 13,876 | |
133 |
22,777 | 35,312 | 13,876 | |
17/49 |
42,909 | 42,042 | 43,322 | |
17 |
26,143 | 12,699 | 17,925 | |
170/4 |
26,143 | 12,699 | 17,925 | |
42/48 |
16,766 | 29,343 | 25,397 | |
42 |
10,693 | 5,226 | 4,986 | |
44 |
619 | 15,131 | 4,285 | |
440/4 |
619 | 15,131 | 4,285 | |
46 |
- | 0 | 11,500 | |
45 |
5,453 | 8,924 | 3,480 | |
450/3 |
5,453 | 8,924 | 3,480 | |
47/48 |
0 | 62 | 1,146 | |
| Income statement | ||||
9900 |
2,763 | 35,192 | 60,098 | |
630 |
11,881 | 6,738 | 5,586 | |
631/4 |
- | 0 | 35,538 | |
640/8 |
1,544 | 986 | 555 | |
9901 |
-10,662 | 27,469 | 18,419 | |
75/76B |
0 | 476 | 80 | |
75 |
0 | 476 | 80 | |
65/66B |
1,782 | 1,148 | 1,143 | |
65 |
1,782 | 1,148 | 1,143 | |
9903 |
-12,443 | 26,797 | 17,356 | |
67/77 |
92 | 5,362 | 3,480 | |
9904 |
-12,535 | 21,435 | 13,876 | |
9905 |
-12,535 | 21,435 | 13,876 | |
| Appropriation of the result | ||||
9906 |
-12,535 | 21,435 | 13,876 | |
791/2 |
12,535 | - | - | |
691/2 |
0 | 21,435 | 13,876 | |
6921 |
0 | 21,435 | 13,876 | |
| Document | ||||
The notes to these accounts have 7 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 30-09-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank2025 annual accounts filed 61 days after the deadline. Filed on 30 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00537792.
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| 1,219 | 34,206 | 24,005 | ||
| -654 | 28,173 | 19,462 | ||
| 29,680 | 0 | 26,950 | ||
| -8,691 | -3,356 | - | ||
| 21,494 | 38,384 | 15,437 | ||
| 39.3% | 48.9% | 30.3% | ||
| 2.28 | 2.31 | 1.61 | ||
| 1.54 | 1.04 | 2.30 | ||
| -45.1% | 53.2% | 73.5% | ||
| -17.7% | 26.0% | 22.3% | ||
| 0.68 | 29.80 | 21.00 |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 |
|---|---|---|---|
| Tangible fixed assets | €29,680 | - | €26,950 |
| €11,881 | €6,738 | €5,586 |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
Insights on MXM Construct
The operating result for 2025 is a loss of €10,662, after a profit of €27,469 in 2024. It is the lowest result since 2023.
Debt's share of the balance-sheet total rises from 51.1% to 60.7%. Equity is lower and debt is higher.
Board & ownership
Board
1 director, no change since 2024Director (not named in the articles)
appointed by deed of 23-02-2023
term without a fixed end
listed in the 2025 annual accounts, filed on 30-09-2026
- Signing authorityThe articles say who may bind the company, for example by signing a contract.
- Each director alonedeed of 23-02-2023
Mandates through the years
2 names, the dashed line is todayACAR Ayhan
Director (not named in the articles)
Director (not named in the articles)
HILAL Sedat
Director (not named in the articles)
Director (not named in the articles)
BoardEarlier
Mandates as a list
- ACAR Ayhan
- Director (not named in the articles), appointed by deed of 23-02-2023, still in office
- HILAL Sedat
- Director (not named in the articles), appointed by deed of 23-02-2023, until 13-06-2024
Control
Capital
- Contribution
- €5,000
- Shares
- 500
- Contribution per share
- €10
- Equity per share
- €55.55 in 2025
- Source
- deed of 23-02-2023
Articles of association
deed of 23-02-2023 (in Dutch)- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimited
- Daily managementDay-to-day management handles the everyday running of the business without the full board.
- The board decides whether the delegates act alone or jointly
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- Fourth Friday of June at 18:00
Shareholders
At incorporation
deed of 23-02-2023 ↗
- HILAL Sedat 250 shares (50%) · €2,500
- ACAR Ayhan 250 shares (50%) · €2,500
Network & group
No group
MXM Construct has no parent and no holdings in its annual accounts. ACAR Ayhan is the only director. MXM Construct shares no director with another company.
Timeline
Timeline
9 events since 2023Board
Filings
Financial
Establishments
2023202420252026
Deadline for the 2026 accounts: 31-07-2027
2026
Annual accounts 2025 filed NBBmicro format · 61 days late
Registered in the Peppol Directory Reachable for e-invoices through 0208:0798670680
2025
Weakest financial year net -€12,535 The net result drops to -€12,535, the lowest from 2023 to 2025.
Annual accounts 2024 filed PDFmicro format · 60 days late
2024
Highest result from 2023 to 2025 net €21,435 ▲54.5% The operating result of €27,469 and the net result of €21,435 are both a record.
Annual accounts 2023 filed PDFmicro format · 48 days late
Resignation: Sedat Hilal (director)Director discharge: Sedat Hilal · General meeting of 07-05-20243 points ▸
- General meeting, 07-05-2024
- Director resignation, Sedat Hilal
- Director discharge, Sedat Hilal
2023
IncorporationFounding capital of €5,000, 500 shares · Founders: HILAL Sedat and ACAR Ayhan · Appointments: HILAL Sedat (director) and ACAR Ayhan (director) · published on 23-02-20238 points ▸
- Founder, HILAL Sedat
- Founder, ACAR Ayhan
- 500 shares
- Board rule, 2
- Director appointment, HILAL Sedat (director (not named in the articles))
- Director appointment, ACAR Ayhan (director (not named in the articles))
- Power of attorney, Gema BV
- Founding capital, €5,000, 500 shares
- The deed holds 1 more point.
First establishment Trompetvogelstraat 71, Antwerp
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
History
MXM Construct was incorporated on 21 February 2023 as a private limited company by two natural persons, with a starting capital of €5,000.12 ACAR Ayhan is director of the company, appointed by deed of 23-02-2023.2 Total assets rose from €62,198 in 2023 to €70,686 in 2025.3
Company details
Identity
- Enterprise number
- 0798.670.680
- VAT number
- BE 0798.670.680
- Peppol ID
- 0208:0798670680
- Other Peppol ID
- 9925:BE0798670680
- Legal form
- Private limited company
- Status
- Active, normal situation
- Founded
- 21-02-2023
- Financial year
- ends on 31 December
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- Fourth Friday of June at 18:00deed of 23-02-2023 (in Dutch)
- Peppol
- Reachable since 05-01-2026Follow this company and you will hear the next morning if it leaves the Peppol register.
- Name
- MXM Construct in Dutch
- Entity type
- Legal entity
- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimiteddeed of 23-02-2023 (in Dutch)
- Name clauseThe company operates under this name according to its articles.
- MXM Constructdeed of 23-02-2023 (in Dutch)
- Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
- “Vlaams Gewest”“Trompetvogelstraat 71, 2170 Antwerpen - Merksem”deed of 23-02-2023 (in Dutch)
Activities
NACEBEL 202541001
General construction of residential buildings main activity
43410
Roofing work
Codes under NACEBEL 2008
41201
General construction of buildings main activity
43211
Specialised construction activities
43910
Specialised construction activities
- PurposeThe purpose describes the activities the company may carry out under its articles.
- “Vervaardiging van ander schrijn- en timmerwerk; Dakbedekking en bouw van dakconstructies: de bouw van daken, het plaatsen van dakbedekking…”deed of 23-02-2023 (in Dutch)
10 activities
- Vervaardiging van ander schrijn- en timmerwerk.
- Dakbedekking en bouw van dakconstructies: de bouw van daken, het plaatsen van dakbedekking van ongeacht welk materiaal, het plaatsen van dakgoten en regenafvoerbuizen, het waterdicht maken van daken en terrassen.
- Elektrotechnische installatiewerken aan gebouwen.
- Elektrische installatie: onderneming voor de installatie van elektrische bedrading en toebehoren, van hulpvoedingssystemen (generatoraggregaten), van de bedrading voor telefoon-installaties en computersystemen. Onderneming voor de installatie van elektrische verwarmingsinstallaties.
- Elektrotechnische installatiewerken, uitgezonderd aan gebouwen
- Onderneming voor de installatie van elektrische verwarmingsinstallatie
- Uitwerking en realisatie van projecten op het gebied van de elektriciteit
- Groothandel in elektrisch materiaal incl. installatiemateriaal
- Reparatie elektrische apparatuur.
- Algemene bouw- & renovatieonderneming, omvattende de algemene coördinatie op de bouwwerf; commerciële en technische ondersteuning van bedrijven die bouwwerken of onderdelen van bouwwerken uitvoeren; de uitvoering van expertises m.b.t. bouwwerken in de meest ruime zin, alsook het uitvoeren van middelgrote bouwconstructies en onderhoudscontracten ten overstaan van opdrachtgevers allerhande, zowel particulier, in onderaanneming, voor overheidsinstellingen, en zo meer.
Registered office and establishments
1 establishment| Establishment | Since | Unit number |
|---|---|---|
| Trompetvogelstraat 71 registered office 2170 Antwerp | 21-02-2023 | 2.342.337.786 |
Buildings and parcels at the address
- Ground area
- 183 m²
- Buildings
- 57 m²
- Volume, LiDAR
- 484 m³
- Tallest building
- 9.6 m
Buildings to scale, each on its own parcel
Parcels
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 11028A0234/00X000 | 182 m² | 1 · 57 m² | 9.6 m · 3 |
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 0798.670.680