M & G Projects
ActiveSummary
M & G Projects has been active since 2000 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €961k and a net result of €122k. Equity is growing by ~53.3% per year across the filed fiscal years. Its solvency ranks better than 74% of 1648 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability80▲+11
Solvency95▲+4
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €70k at 30 days acceptable
Liquidity short (current ratio 0.17 against 0.16 in 2024; short-term debt: 24.8% and cash: 2.2% of total assets), and 29.7% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
70.3%
Return on assets
8.9%
Age of the figures
9 mo
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 20-07-2026, 11 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
11 d early
2024
9 d early
2023
28 d late
2022
29 d late
2021
27 d late
2020
27 d late
2019
26 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€961k▲ 14.5%
2024 · €839k
2018: €59klowest in 8 years
2019: €81k▲ +36.5% vs 2018
2020: €103k▲ +27.7% vs 2019
2021: €151k▲ +46.1% vs 2020
2022: €813k▲ +439% vs 2021
2023: €820k▲ +0.9% vs 2022
2024: €839k▲ +2.3% vs 2023
2025: €961k▲ +14.5% vs 2024highest in 8 years
2018 → 2025
Total assets
€1.37M▲ 7.0%
2024 · €1.28M
2018: €117klowest in 8 years
2019: €135k▲ +14.7% vs 2018
2020: €167k▲ +23.9% vs 2019
2021: €198k▲ +18.4% vs 2020
2022: €1.32M▲ +570% vs 2021
2023: €1.19M▼ -9.8% vs 2022
2024: €1.28M▲ +6.8% vs 2023
2025: €1.37M▲ +7.0% vs 2024highest in 8 years
2018 → 2025
Net result
€122k▲ 1,579%
2024 · €7k
2018: €18k
2019: €46k▲ +157% vs 2018
2020: €22k▼ -50.9% vs 2019
2021: €48k▲ +113% vs 2020
2022: €662k▲ +1290% vs 2021highest in 8 years
2023: €7k▼ -98.9% vs 2022lowest in 8 years
2024: €7k▲ +2.8% vs 2023
2025: €122k▲ +1579% vs 2024
2018 → 2025
Working capital
€-280k▼ 10.8%
2024 · €-253k
2018: €-536
2019: €30k▲ +5656% vs 2018
2020: €66k▲ +120% vs 2019
2021: €120k▲ +83.3% vs 2020highest in 8 years
2022: €-128k▼ -206% vs 2021
2023: €-178k▼ -39.0% vs 2022
2024: €-253k▼ -42.2% vs 2023
2025: €-280k▼ -10.8% vs 2024lowest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€151k-€813k▲ 439%€820k▲ 0.9%€839k▲ 2.3%€961k▲ 14.5%
2021: €151klowest in 5 years
2022: €813k▲ +439% vs 2021
2023: €820k▲ +0.9% vs 2022
2024: €839k▲ +2.3% vs 2023
2025: €961k▲ +14.5% vs 2024highest in 5 years
Operating result€65k-€76k▲ 16.9%€15k▼ 80.1%€22k▲ 45.7%€178k▲ 704%
2021: €65k
2022: €76k▲ +16.9% vs 2021
2023: €15k▼ -80.1% vs 2022lowest in 5 years
2024: €22k▲ +45.7% vs 2023
2025: €178k▲ +704% vs 2024highest in 5 years
Net result€48k-€662k▲ 1,290%€7k▼ 98.9%€7k▲ 2.8%€122k▲ 1,579%
2021: €48k
2022: €662k▲ +1290% vs 2021highest in 5 years
2023: €7k▼ -98.9% vs 2022lowest in 5 years
2024: €7k▲ +2.8% vs 2023
2025: €122k▲ +1579% vs 2024
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 704% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.37M
Fixed assets
€1.31M ▲ 6.3%
Current assets
€59k ▲ 25.5%
Equity and liabilities €1.37M
Equity
€961k ▲ 14.5%
Debt
€406k ▼ 7.3%
Debt's share of the balance-sheet total falls from 34.3% to 29.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€215k▲
2024 · €46k
Cash flow
€159k▲
2024 · €31k
Current ratio
0.17▲
2024 · 0.16
Debt to equity
0.42▼
2024 · 0.52
ROE
12.7%▲
2024 · 0.9%
ROA
8.9%▲
2024 · 0.6%
Interest coverage
36.59▲
2024 · 11.43
Debt ≤ 1 year
€338k▲
2024 · €299k
Debt > 1 year
€67k▼
2024 · €139k
Income taxes
€51k▲
2024 · €12k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 48 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.28M€1.37M▲
Fixed assets21/28€1.23M€1.31M▲
Tangible fixed assets22/27€170k€141k▼
Land and buildings22€30k€25k▼
Plant, machinery and equipment23€20k€17k▼
Furniture and vehicles24€120k€98k▼
Financial fixed assets28€1.06M€1.17M▲
Current assets29/58€47k€59k▲
Amounts receivable within one year40/41€27k€15k▼
Trade receivables40€4k€13k▲
Other amounts receivable41€22k€3k▼
Cash at bank and in hand54/58€20k€30k▲
Deferred charges and accrued income490/1-€14k
Equity and liabilities
Total equity and liabilities10/49€1.28M€1.37M▲
Equity10/15€839k€961k▲
Contributions10/11€22k€22k=
Reserves13€817k€939k▲
Distributable reserves133€817k€939k▲
Profit (loss) carried forward14€0-
Amounts payable17/49€438k€406k▼
Amounts payable after more than one year17€139k€67k▼
Financial debts170/4€139k€67k▼
Amounts payable within one year42/48€299k€338k▲
Current portion of amounts payable after more than one year42€70k€71k▲
Trade debts44€76k€380▼
Suppliers440/4€76k€380▼
Taxes, remuneration and social security45€9k€39k▲
Taxes450/3€9k€39k▲
Other amounts payable47/48€144k€228k▲
Accrued charges and deferred income492/3€0€28▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€24k€37k▲
Other operating charges640/8€10k€5k▼
Gross operating margin9900€56k€220k▲
Operating profit (loss)9901€22k€178k▲
Financial income75/76B€783€0▼
Recurring financial income75€783€0▼
Non-recurring financial income76B€0-
Financial charges65/66B€4k€6k▲
Recurring financial charges65€4k€6k▲
Profit (loss) for the period before taxes9903€19k€172k▲
Income taxes67/77€12k€51k▲
Profit (loss) for the period9904€7k€122k▲
Profit (loss) for the period to be appropriated9905€7k€122k▲
Appropriation of the result
Profit (loss) to be appropriated9906€817k€122k▼
Profit (loss) brought forward from the previous period14P€810k€0▼
Transfer to equity691/2€817k€122k▼
To other reserves6921€817k€122k▼
Social balance
Average headcount (FTE)90870.0-
The notes to these accounts (15 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €23k | - | €11k | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €18k | €20k | €16k | €24k | €37k | ▲ 56.9% |
| Other operating charges640/8 | €3k | €3k | €2k | €10k | €5k | ▼ 52.7% |
| Gross operating margin9900 | €86k | €100k | €33k | €56k | €220k | ▲ 293% |
| Operating profit (loss)9901 | €65k | €76k | €15k | €22k | €178k | ▲ 704% |
| Financial income75/76B | - | €609k | €62 | €783 | €0 | ▼ 100% |
| Recurring financial income75 | - | €609k | €62 | €783 | €0 | ▼ 100% |
| Non-recurring financial income76B | - | - | - | €0 | - | - |
| Financial charges65/66B | €328 | €7k | €4k | €4k | €6k | ▲ 47.2% |
| Recurring financial charges65 | €328 | €7k | €4k | €4k | €6k | ▲ 47.2% |
| Profit (loss) for the period before taxes9903 | €65k | €679k | €12k | €19k | €172k | ▲ 809% |
| Income taxes67/77 | €17k | €17k | €4k | €12k | €51k | ▲ 332% |
| Profit (loss) for the period9904 | €48k | €662k | €7k | €7k | €122k | ▲ 1,579% |
| Profit (loss) for the period to be appropriated9905 | €48k | €662k | €7k | €7k | €122k | ▲ 1,579% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €198k | €1.32M | €1.19M | €1.28M | €1.37M | ▲ 7.0% |
| Fixed assets21/28 | €40k | €1.11M | €1.11M | €1.23M | €1.31M | ▲ 6.3% |
| Tangible fixed assets22/27 | €40k | €51k | €52k | €170k | €141k | ▼ 17.2% |
| Land and buildings22 | - | - | - | €30k | €25k | ▼ 14.4% |
| Plant, machinery and equipment23 | €3k | €4k | €24k | €20k | €17k | ▼ 15.2% |
| Furniture and vehicles24 | €38k | €47k | €28k | €120k | €98k | ▼ 18.2% |
| Financial fixed assets28 | - | €1.06M | €1.06M | €1.06M | €1.17M | ▲ 10.1% |
| Current assets29/58 | €157k | €214k | €83k | €47k | €59k | ▲ 25.5% |
| Amounts receivable within one year40/41 | €61k | €189k | €75k | €27k | €15k | ▼ 41.9% |
| Trade receivables40 | €42k | €32k | €18k | €4k | €13k | ▲ 193% |
| Other amounts receivable41 | €19k | €157k | €57k | €22k | €3k | ▼ 88.7% |
| Cash at bank and in hand54/58 | €96k | €24k | €8k | €20k | €30k | ▲ 46.7% |
| Deferred charges and accrued income490/1 | €712 | €1k | - | - | €14k | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €198k | €1.32M | €1.19M | €1.28M | €1.37M | ▲ 7.0% |
| Equity10/15 | €151k | €813k | €820k | €839k | €961k | ▲ 14.5% |
| Contributions10/11 | €20k | €20k | €22k | €22k | €22k | = |
| Capital10 | €20k | €20k | - | - | - | - |
| Issued capital100 | €20k | €20k | - | - | - | - |
| Reserves13 | €2k | €2k | - | €817k | €939k | ▲ 14.9% |
| Non-distributable reserves130/1 | €2k | €2k | - | - | - | - |
| Legal reserve130 | €2k | €2k | - | - | - | - |
| Distributable reserves133 | - | - | - | €817k | €939k | ▲ 14.9% |
| Profit (loss) carried forward14 | €129k | €791k | €798k | €0 | - | - |
| Amounts payable17/49 | €47k | €512k | €375k | €438k | €406k | ▼ 7.3% |
| Amounts payable after more than one year17 | €10k | €170k | €114k | €139k | €67k | ▼ 51.4% |
| Financial debts170/4 | €10k | €170k | €114k | €139k | €67k | ▼ 51.4% |
| Amounts payable within one year42/48 | €37k | €342k | €261k | €299k | €338k | ▲ 13.1% |
| Current portion of amounts payable after more than one year42 | €8k | €60k | €56k | €70k | €71k | ▲ 2.0% |
| Financial debts43 | - | €95k | - | - | - | - |
| Credit institutions430/8 | - | €95k | - | - | - | - |
| Trade debts44 | €4k | €12k | €29k | €76k | €380 | ▼ 99.5% |
| Suppliers440/4 | €4k | €12k | €29k | €76k | €380 | ▼ 99.5% |
| Taxes, remuneration and social security45 | €25k | €35k | €18k | €9k | €39k | ▲ 338% |
| Taxes450/3 | €25k | €35k | €18k | €9k | €39k | ▲ 338% |
| Other amounts payable47/48 | - | €141k | €157k | €144k | €228k | ▲ 57.7% |
| Accrued charges and deferred income492/3 | - | €400 | €450 | €0 | €28 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €48k | €662k | €7k | €7k | €122k | ▲ 1,579% |
| + Depreciation and write-downs630 | €18k | €20k | €16k | €24k | €37k | ▲ 56.9% |
| Operating cash flow (approximation) | €66k | €682k | €23k | €31k | €159k | ▲ 416% |
| Investment in fixed assets (approximation) | - | €-1.09M | €-17k | €-142k | €-115k | ▲ 19.0% |
| Change in cash | - | €-72k | €-15k | €12k | €9k | ▼ 19.5% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
20-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
22-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
28-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 28 days late
2023
31-12
Financial
Weakest financial yearnet €7k ▼98.9%
Net result drops to €7k, the lowest in the series; recovery starts the following year.
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 29 days late
2022
31-12
Financial
Highest result since 2018net €662k ▲1,290%
Net result €662k, the highest in the series.
31-12
Financial
Equity above €500kEq €813k ▲439%
5 profitable years in a row build equity to €813k.
27-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 27 days late
2021
31-12
Financial
Equity above €150kEq €151k ▲46.1%
4 profitable years in a row build equity to €151k.
27-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 27 days late
2020
31-12
Financial
Equity above €100kEq €103k ▲27.7%
3 profitable years in a row build equity to €103k.
26-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 26 days late
Show earlier events
2019
24-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 24 days late
2018
29-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 29 days late
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has 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.
Directors · office · real estate
Directors
4 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, Arendonk · 1 establishment unit since 2000
Ground area
2,871 m²
Building footprint
281 m²
Volume, LiDAR
1,866 m³
Parcel 13322C0936/00D000, Flanders · tallest building 9.7 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Broekstraat 63, 2370 Arendonk
since 20002.099.884.011
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13322C0936/00D000 | Flanders | 2,871 m² | 1 · 281 m² | 9.7 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel 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
2023 to 2024 · 2 entries · 547 EUR awarded · 547 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 120 EUR | 120 EUR |
| 2023 | 1 | 427 EUR | 427 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Similar companies · same sector, comparable size
ALTR'IDEA
BE 0454.981.369
Lier · Eq €959k
BRIGHTFISH S.A.
BE 0450.523.725
Brussel · Eq €962k
OMD
BE 0439.836.503
Hoeilaart · Eq €958k
BOOMERANG
BE 0449.981.119
Destelbergen · Eq €964k
Vanpoucke Géry - Installations publicitaires
BE 0413.594.736
Ittre · Eq €951k
Of 9,862 companies in sector 73110 we hold annual accounts for 3,753. 1,604 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded18-09-2000
Fiscal year end31-12
Activities, NACEBEL 2025
73110Advertising agencies
93121Football clubs
Scores and ratios are computed by Checked and are not a credit decision.