M.G.S.

Active

Public limited companyfounded 1990active for 36 yearsMarche, Rue du Parc Industriel 8A, 6900 Marche-en-Famenne, BelgiumKBO/BCE: BE 0441.567.259

From the official registers: KBO 35 annual accounts at the National Bank publications in the Belgian Official Gazette

Summary

M.G.S. has been active since 1990 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €16.4m and a net result of €454,369. Equity is growing by about 2.8% per year across the filed financial years. Its solvency ranks better than 92% of 6,158 sector peers (NACE 46, financial year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).

Risk analysisFollow Report Compare

M.G.S.ActiveChecked score 91/100

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Official details

KBO

Status: Active since 26-07-1990 Normal situation
Legal form: Public limited company
Registered office: Marche, Rue du Parc Industriel 8A, 6900 Marche-en-Famenne
Activity: Wholesale of construction materials, general range NACE 46831and 2 others
Establishment unit: 2.050.359.274 6900 Marche-en-Famenne, since 08-07-1994
Financial year end: 30 September
Peppol: Reachable since 24-12-2025

Company details

Who decides

Board

DELVINVESTDirector · since 30-08-2023 · permanent representative Olivier DELVAUX
Emmanuelle BRIMIOULLEDirector · since 30-08-2023

Shareholders

DELVINVEST38%annual accounts 30-06-2025

Holdings: Shares in 2 companies FINSBURY REAL ESTATES and JAMENE

Board & ownership

How it is doing

91 Excellent Checked score 2025

Bankruptcy probabilitywithin 12 months: 0.2%

Annual accounts to 30-09-2025

Gross margin: €2.1m; ▲ 80.3%
Turnover: ≈ €8.9m; estimated
Profit: €454,369
Equity: €16.4m; ▲ 2.8%
Total assets: €18.4m; ▼ 5.7%

2025 accounts on time

Filed on 30-04-2026PDF

Financials

Why 91raises riskName on a sanctions listLiquidity: current ratio 1.00, cash €16,325, halved1 of the last 3 latelowers riskFounded in 1990Size: total assets €18.4mShow the evidence

Checked score

Score 2025

91 / 100

Excellent

Probability in this band: under 0.55%

Financially better than 72% of its sector peers (NACE 46, medium-sized)

Every signal that counts is listed under Signals.

Financial strength · tick = 2024

Strong

Solvency 100=

equity 89.1% of total assets

Liquidity 50+4

short-term debt 10.9% · cash 0.1%

Profitability 72+6

return on assets 2.5%

Bankruptcy probability, 12 months

0.2% Very low

0%0.5%1.5%4%10%≥ 25%

About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.2% (746 companies, NACE 46, medium-sized)

Last 24 months 11-2024: 0.5% 12-2024: 0.5%● unchanged vs 11-2024 01-2025: 0.5%● unchanged vs 12-2024 02-2025: 0.5%● unchanged vs 01-2025 03-2025: 0.5%● unchanged vs 02-2025 04-2025: 0.6%▲ +0.1 percentage points vs 03-2025highest value 05-2025: 0.1%▼ -0.5 percentage points vs 04-2025 06-2025: 0.1%● unchanged vs 05-2025 07-2025: 0.1%● unchanged vs 06-2025 08-2025: 0.1%● unchanged vs 07-2025 09-2025: 0.1%● unchanged vs 08-2025 10-2025: 0.1%● unchanged vs 09-2025lowest value 11-2025: 0.1%● unchanged vs 10-2025 12-2025: 0.1%● unchanged vs 11-2025 01-2026: 0.1%● unchanged vs 12-2025 02-2026: 0.1%● unchanged vs 01-2026 03-2026: 0.1%● unchanged vs 02-2026 04-2026: 0.2%▲ +0.1 percentage points vs 03-2026 05-2026: 0.3%▲ +0.1 percentage points vs 04-2026 06-2026: 0.2%▼ -0.1 percentage points vs 05-2026 07-2026: 0.2%● unchanged vs 06-2026 08-2026: 0.2%● unchanged vs 07-2026 09-2026: 0.2%● unchanged vs 08-2026 10-2026: 0.2%● unchanged vs 09-2026

Credit of up to €1,450,000 on 30-day terms is acceptable

Liquidity tight (current ratio 1.0, compared with 0.64 in 2024, below the usual 1.5; short-term debt: 10.9% and cash: 0.1% of total assets), and 10.9% of the assets are financed with debt and provisions.

How it is calculated

The band follows from the bankruptcy probability, on a scale where 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 46, medium-sized): better than 93% on solvency, 70% on liquidity, 78% on profitability and 47% on growth.

The bankruptcy probability was computed on 31-10-2026 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. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Signals

Five signals.

lowers riskraises riskneutral

Liquidity: current ratio 1.00, cash €16,325, halved

NBB · annual accounts

Founded in 1990

Companies that have existed this long fail less often; how much that weighs depends on the rest of its profile.

KBO

1 of the last 3 late

NBB · filings

Size: total assets €18.4m

Companies of this size fail less often; how much that weighs depends on the rest of its profile.

NBB · annual accounts

Latest accounts filed on time

The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 30-04-2026, 0 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

on the day

2024

19 days early

2023

122 days late

2022

25 days early

2021

46 days early

2020

59 days early

2019

on the day

← before the deadline after the deadline →

tick = median of all Belgian filingsring = median in the sector

This company filed its last 7 accounts on average 4 days before the deadline; the sector median (NACE 46) for financial year 2024 is 3 days before the deadline, and 39% of those companies filed late.

Searched, nothing found (2)

Next filing not due yet

The financial year that closed on 30-09-2026 is due by 30-04-2027. Nothing is late today. The company usually files around 11 April (4 of the last 5 filed years within 30 days of that day).

Companies Code · seven months

Where today falls in the filing period

30-09-2026 year end01-11-2026 today30-04-2027 deadline

No strike-offs in the KBO publications

Searched since 2021.

KBO publications · our coverage

Name match with a sanctions list

1 entry

SHAHID MEISAMI GROUPalias S.M.G.

OFAC SDN list (United States) · programme IFSR · IFSR / NPWMD · exact name match (100%)

A name match is not a finding that this company itself is on the list; check the entry at the source.

Key points

Risk: Name on a sanctions lista name, not a verdict: check the source Match View
Positive: Back in profit in 2025after -€383,753 in 2024 €454,369 View
Positive: Largest company by equity in Marche-en-Famenne, Wholesale and retail trade sectorin the Checked rankings No. 1 View
2 restructurings since 2025latest: merger with FINSBURY REAL ESTATES 2 View

Documents

Key facts about M.G.S.

What is the company number of M.G.S.?: 0441.567.259. In Belgium the VAT number is the company number with BE in front: BE 0441.567.259.
Where is M.G.S. based?: The registered office is at Marche, Rue du Parc Industriel 8A, 6900 Marche-en-Famenne.Company details
What does M.G.S. do?: According to the KBO register, the main activity is wholesale of construction materials, general range (NACE 46831).
What is the legal form of M.G.S.?: Public limited company (NV).
When was M.G.S. founded?: On 26-07-1990.
Is M.G.S. still active?: Yes, M.G.S. is an active enterprise in the KBO register.
What is the turnover of M.G.S.?: ≈ €8.9m in financial year 2025. Estimated from the gross margin of €2.1m: probably between €5.3m and €15.0m, based on 100 comparable companies, NACE 46. In financial year 2022 turnover was €4.5m.Financials
Is M.G.S. profitable?: In financial year 2025, M.G.S. made a profit of €454,369.
Where can I find the annual accounts of M.G.S.?: M.G.S. filed 35 annual accounts with the National Bank of Belgium, the latest for financial year 2025.Annual accounts 2025 (PDF)
When are the next annual accounts of M.G.S. due?: By 30-04-2027, for financial year 2026.Timeline