MG ENGINEERING
ActiveSummary
MG ENGINEERING has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €659k and a net result of €276k. Equity is growing by ~49.1% per year across the filed fiscal years. Its solvency ranks better than 79% of 150 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
81
/ 100
Excellent
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability100▲+5
Solvency94▲+5
Growth78=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €50k at 30 days acceptable
Liquidity ample (current ratio 2.08 against 1.58 in 2024; short-term debt: 28.9% and cash: 6.2% of total assets), and 30.9% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 33
Relative position
BE, all sectors
reference
Sector 33
higher
← fewer bankruptcies
more bankruptcies →
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
69.1%
Return on assets
29%
Age of the figures
9 mo
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
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 22-04-2026, 100 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
100 d early
2024
57 d early
2023
18 d early
2022
5 d early
2021
on the day
2020
3 d early
2019
on the day
← 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
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€276k▲ 51.2%
2024 · €183k
2018: €28k
2019: €5k
2020: €23k
2021: €178k
2022: €132k
2023: €207k
2024: €183k
2018 → 2025
Working capital
€297k▲ 418%
2024 · €57k
2018: €-198k
2019: €-269k
2020: €-208k
2021: €-77k
2022: €-52k
2023: €-6k
2024: €57k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€214k-€274k▲ 28.1%€381k▲ 38.8%€563k▲ 47.7%€659k▲ 17.1%
Operating result€140k-€127k▼ 9.3%€93k▼ 26.7%€94k▲ 1.2%€287k▲ 205%
Net result€178k-€132k▼ 25.8%€207k▲ 57.2%€183k▼ 11.9%€276k▲ 51.2%
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 205% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €954k
Fixed assets
€380k ▼ 47.4%
Current assets
€573k ▲ 266%
Equity and liabilities €954k
Equity
€659k ▲ 17.1%
Debt
€295k ▼ 7.2%
Debt's share of the balance-sheet total falls from 36.1% to 30.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€298k▲
2024 · €125k
Cash flow
€288k▲
2024 · €214k
Current ratio
2.08▲
2024 · 1.58
Debt to equity
0.45▼
2024 · 0.56
ROE
41.9%▲
2024 · 32.5%
ROA
29.0%▲
2024 · 20.8%
Interest coverage
56.58▲
2024 · 19.27
Debt ≤ 1 year
€276k▲
2024 · €99k
Debt > 1 year
€18k▼
2024 · €218k
Income taxes
€96k▲
2024 · €38k
Staff costs
€22k▲
2024 · €6k
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 · 55 lines
Balance sheet
Code20242025
Assets
Total assets20/58€880k€954k▲
Fixed assets21/28€724k€380k▼
Tangible fixed assets22/27€392k€49k▼
Land and buildings22€331k-
Plant, machinery and equipment23€38k-
Furniture and vehicles24€23k€16k▼
Other tangible fixed assets26-€33k
Financial fixed assets28€332k€332k=
Current assets29/58€157k€573k▲
Amounts receivable within one year40/41€102k€82k▼
Trade receivables40€89k€33k▼
Other amounts receivable41€12k€49k▲
Current investments50/53-€429k
Cash at bank and in hand54/58€39k€59k▲
Deferred charges and accrued income490/1€16k€4k▼
Equity and liabilities
Total equity and liabilities10/49€880k€954k▲
Equity10/15€563k€659k▲
Contributions10/11€80k€80k=
Reserves13€471k€568k▲
Distributable reserves133€471k€568k▲
Investment grants15€12k€11k▼
Amounts payable17/49€318k€295k▼
Amounts payable after more than one year17€218k€18k▼
Financial debts170/4€134k€4k▼
Other amounts payable178/9€84k€14k▼
Amounts payable within one year42/48€99k€276k▲
Current portion of amounts payable after more than one year42€47k€6k▼
Trade debts44€15k€22k▲
Suppliers440/4€15k€22k▲
Taxes, remuneration and social security45€35k€65k▲
Taxes450/3€30k€56k▲
Remuneration and social security454/9€5k€9k▲
Other amounts payable47/48€2k€184k▲
Income statement
Code20242025
Non-recurring operating income76A€13k€173k▲
Remuneration, social security and pensions62€6k€22k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€31k€12k▼
Other operating charges640/8€9k€9k▲
Gross operating margin9900€140k€330k▲
Operating profit (loss)9901€94k€287k▲
Financial income75/76B€133k€91k▼
Recurring financial income75€133k€91k▼
Financial charges65/66B€7k€6k▼
Recurring financial charges65€7k€5k▼
Non-recurring financial charges66B-€425
Profit (loss) for the period before taxes9903€221k€372k▲
Income taxes67/77€38k€96k▲
Profit (loss) for the period9904€183k€276k▲
Profit (loss) for the period to be appropriated9905€183k€276k▲
Appropriation of the result
Profit (loss) to be appropriated9906€183k€276k▲
Transfer from equity791/2-€179k
Transfer to equity691/2€183k€276k▲
To other reserves6921€183k€276k▲
Profit to be distributed694/7-€179k
Return on contributions (dividend)694-€179k
Social balance
Average headcount (FTE)90871.01.0=
The notes to these accounts (15 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
22-04
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Highest result since 2018net €276k ▲51.2%
Operating result €287k, net result €276k, both a record.
04-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Equity above €500kEq €563k ▲47.7%
7 profitable years in a row build equity to €563k.
13-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
26-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Equity above €200kEq €214k ▲182%
4 profitable years in a row build equity to €214k.
28-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Weakest financial yearnet €5k ▼83.4%
Net result drops to €5k, the lowest in the series; recovery starts the following year.
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 29 days late
2018
30-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
8 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, Morlanwelz · 1 establishment unit since 2009
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Rue Sainte-Henriette(MLZ) 2267140 MorlanwelzGround area
1.0 ha
Building footprint
177 m²
Parcel 56057A0324/00C049, Wallonia. Linked by address, not a title deed.
1 establishment unit
MG ENGINEERING
since 20092.182.200.189
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 56057A0324/00C049 | Wallonia | 1.0 ha | 1 · 177 m² | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
ALPHA TECHNICS
BE 0836.891.848
Sint-Niklaas · Eq €653,454
TTCO
BE 0806.922.115
Sint-Niklaas · Eq €649,445
SMART ENERGY SYSTEMS
BE 0645.898.650
Geraardsbergen · Eq €648,585
Promation
BE 0843.180.814
Heist-op-den-Berg · Eq €647,327
ATYOS
BE 0543.459.623
Deinze · Eq €643,769
Of 1,225 companies in sector 33200 we hold annual accounts for 676. 421 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded01-07-2009
Fiscal year end31-12
Activities, NACEBEL 2025
33200Installation of industrial machinery and equipment
71121Engineering and related technical consultancy, excluding land surveyors
43212Electrical installation work in industrial facilities
43222Installation of electric heating, air conditioning, cooling and ventilation
74999Other professional, scientific and technical activities
Sources
Crossroads Bank for EnterprisesNational Bank · 16 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.
Contact details
1 entryPhone:064/211.777