M & E · Checked.be

Summary

Conclusion

the dossier summarised in one paragraph

The computed 12-month bankruptcy probability of M & E is 2.1% (moderate). The 2023 annual accounts show equity of €20k and a net result of €27k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 95% of 32 sector peers (fiscal year 2023). The company has been active since 1991 and the Belgian State Gazette contains no insolvency signals. The CBE does carry 2 administrative register entries (see administrative flags).

Based on the State Gazette, CBE and 6 annual accounts.

Signals

2 signals · with evidence

Strong solvency vs sector

Solvency is in the sector's strongest quartile: better than 95% of 32 peers (2023). A comfortable equity buffer.

View the sector comparison

Consistently profitable

Positive net result in the two most recent financial years (2022 and 2023).

View the result trend

Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.

Filing behaviour

From the deposit records, complete market-wide

Annual accounts not filed

The financial year that closed on 31-12-2024 was due at the National Bank by 31-07-2025. Nothing is on record today, 375 days later. 2 financial years are missing in total. Measured on financial year 2023: 41.75% of the companies that did not file are in an abnormal legal state today, against 1.66% of those that did.

Filed more than 90 days late

The financial year that closed on 31-12-2023 was due by 31-07-2024 and was filed on 21-11-2024, 113 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.

How we compute the deadline

The year end is derived from 10 filed financial years, each closing on 31-12. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 31-12-2023, that is 31-07-2024.

Deadline per financial year

Year closed	Due by	Filed	Variance	Reference
31-12-2025	31-07-2026	nothing on record	not filed	-
31-12-2024	31-07-2025	nothing on record	not filed	-
31-12-2023	31-07-2024	21-11-2024	113 d late	2024-00603040
31-12-2022	31-07-2023	06-06-2023	55 d early	2023-00108692
31-12-2021	31-07-2022	27-06-2022	34 d early	2022-20098666
31-12-2020	31-07-2021	07-07-2021	24 d early	2021-32500005
31-12-2019	31-07-2020	05-08-2020	5 d late	2020-39900379
31-12-2018	31-07-2019	11-06-2019	50 d early	2019-17300564
31-12-2017	31-07-2018	04-07-2018	27 d early	2018-29300422
31-12-2016	31-07-2017	25-07-2017	6 d early	2017-36000530
31-12-2015	31-07-2016	20-06-2016	41 d early	2016-20000240
31-12-2014	31-07-2015	01-06-2015	60 d early	2015-14000318

Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.

Trust signals

1 signal

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags

2 events

Address struckAddress strikeout annulled

Bankruptcy probability (12 mo)

Checked model v1 · free for everyone

2.1% Moderate

0%0,5%1,5%4%10%≥25%

Recent warning signals +Long track record −Higher-failure-rate sector +

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Financials

TurnoverNot published (abbreviated filing)

EBIT marginNot published (abbreviated filing)

Net result€27k+61.2%

Working capital€-6k+72.6%

CSV export

Annual accounts & ratios

Source: NBB · 2023

Annual accounts filed on 21-11-2024 with the NBB · fiscal year 2023 · micro

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

volatile Too volatile to project: the yearly deviation from the trend is ~40% of the level (threshold 35%). We therefore deliberately show no projection line.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2023 · NACE 17 · compared across all schema types (micro, abbreviated and full combined)

Metric	This company	Sector median	Position in the sector
Solvency	100.0%	33.5%	better than 95% of 32 sector peers
Net result	€27k	€22k	better than 53% of 32 sector peers
Equity	€20k	€237k	better than 20% of 32 sector peers
Total assets	€20k	€1.51M	better than 9% of 32 sector peers

Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.

Net profit

€27k

+61.2% 18-23

Total assets

€20k

-20.3% 18-23

Equity

€20k

- 18-23

Working capital

€-6k

+72.6% 18-23

Debt

€32k

-25.4% 18-23

Debt ≤ 1y

€32k

-25.4% 18-23

Current ratio

0.80

+72.3% 18-23

Quick ratio

0.80

+72.3% 18-23

Solvency

100.0%

- 18-23

Debt / equity

-5.10

-171.9% 18-23

ROE

130.6%

- 18-23

ROA

130.6%

+102.1% 18-23

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2023
Deposit	micro
Revenue	-
EBITDA	-
Net profit	€27k
Cash flow	-
Staff costs	-
Income taxes	-
Dividends	-
Total assets	€20k
Equity	€20k
Debt	-
of which ≤ 1y	-
of which > 1y	-
Working capital	-
Employees (FTE)	-

Ratios (computed)

	2023
Current ratio	-
Quick ratio	-
Working capital ratio	-
Solvency	100.0%
Debt / equity	-
Long-term debt ratio	-
Interest coverage	-
Gross margin	-
Net margin	-
ROA	130.6%
ROE	130.6%
EBITDA margin	-
Days sales outstanding	-
Days payable outstanding	-
Inventory turnover	-
Days inventory (DSI)	-

Full annual accounts

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2023
Balance sheet, Assets
TOTAL ASSETS	20/58	€20k
Current assets	29/58	€20k
Amounts receivable within one year	40/41	€20k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€20k
Equity	10/15	€20k
Contributions / capital	10/11	€25k
Reserves	13	€3k
Accumulated profits (losses)	14	€-7k
Income statement
Gross operating margin	9900	€27k
Operating result	9901	€27k
Financial charges	65	€45
Result before taxes	9903	€27k
Net result for the period	9904	€27k
Result to be appropriated	9905	€27k

You're seeing the latest fiscal year only. Unlock 4 prior years (figures + ratios) with a paid plan. See plans →

Ratios computed by Checked.

Health barometer

FY 2023 · computed

68 / 100 Healthy

050100

Computed from 3 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

Unlock the full score breakdown, per-year score history and the indicative credit limit with Plus.

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Computed by Checked from the NBB filing for FY 2023. Indicative, not credit advice.

Directors

Directors & mandates

2 directors

Current directors & mandates

Yilmaz Yüksel
Director
State Gazette act 24044936 (13-03-2024)

Current
27-11-2023 → present

Former directors (1)

Eddy De Swert
Director
State Gazette act 24044936 (13-03-2024)

Former
- → 27-11-2023

Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.This list is read straight from this company's published acts, not from the officer register.

Insolvency mandates

No insolvency mandates (liquidators, administrators) on record for this company.

Legal Structure

NACE primary	Vervaardiging van gegolfd papier, golfkarton en verpakkingsmateriaal van papier en karton(17210)
Legal form	Private limited company (pre-2019)(015)
Incorporation	25-04-1991
Status	Active
Postal code	3630

Structure & network

Locations & real estate

Establishment units

1 location

M & E

Salvialaan 51, 2980 ZoerselGroothandel in groenten en fruit

since 19912.052.729.044

Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Parcels2

Ground area1.2 ha

Buildings2

Building footprint2,237 m²

Volume (LiDAR)908 m³

Tallest building6.7 m · ±1 fl.

Real-estate footprint

Source: CBE × cadastre · address linking

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Flanders 2 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
73060B0071/00L000	Flanders	1.2 ha	1 · 2,014 m²	0.1 m
11017A0639/00B000	Flanders	881 m²	1 · 223 m²	6.7 m · 1 fl.

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.

Publications

Lifecycle & Insolvency Signals

2 events from the State Gazette

02-06-2025

KBO administration Address strikeout annulled

· Publications in State Gazette ↗

07-05-2025

KBO administration Address struck

· Publications in State Gazette ↗

Time machine: BS events + macro context

2021-2026

Macro context

2020-Q2/Q3 COVID lockdown

2022 energy crisis

2023-2024 ECB rate hikes

Legend

Bankruptcy

Interim / reorg

KBO event

Belgisch Staatsblad · acts

1 acts

All acts · 1 updated 2 years ago

2024

13-03-2024 1 director appointed, 1 resigning Director changes

Yilmaz Yüksel, Bestuurder
Eddy De Swert, Bestuurder

Original publication ↗

Analysis

Snowflake analysis

financial profile on 5 axes

86 / 100

Exceptional profile, strong across almost every axis.

All 5 axes are computed from data Checked has read.

Health 68

Profitability 100

Solvency 100

Growth 78

Stability 84

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Generate a structured, factual brief from every signal in this dossier: risk, financial health, ownership, mandates and sector comparison.

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Credit advice

verdict per customer and amount

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Company registry

Company registry (CBE)

Crossroads Bank

Activities

Vervaardiging van gegolfd papier, golfkarton en verpakkingsmateriaal van papier en karton17210Vervaardiging van verpakkingsmateriaal van kunststof22220Bemiddelingsactiviteiten in verband met de niet-gespecialiseerde detailhandel47910

Primary activity highlighted.

Names & trade names

Legal nameNL

M & E

Registered office

Leemkuilstraat(O) 9 bus 7

3630 Maasmechelen, Belgium

Registration history

02-06-2025 Address strikeout annulled
07-05-2025 Address struck

Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.