MG RENOVATION
ActiveSummary
The computed 12-month bankruptcy probability of MG RENOVATION is 5.5% (elevated). The 2024 annual accounts show equity of €9k and a net result of €12k. Its solvency ranks better than 14% of 36375 sector peers (fiscal year 2024). The company has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
43
/ 100
Weak
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability84▲+21
Solvency34▲+12
Growth78
Track record94
Bankruptcy probability, 12 months
5.5%
Elevated
0%0.5%1.5%4%10%≥ 25%
No publishable credit limit; credit only on tighter terms
Liquidity short (current ratio 0.83 against 0.65 in 2023; short-term debt: 83.4% and cash: 15.5% of total assets), and 91.1% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Sector 43
higher
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
8.9%
Return on assets
12%
Age of the figures
21 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 14% of 36375 sector peers (2024).
NBB · sector comparisonPosition among 36375 sector peers
Solvency
better than 14%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 26-09-2025, 57 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 2 filingsDeviation from the deadline
2025
not confirmed
2024
57 d late
2023
279 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€9k
2023 · €-3k
2023: €-3k
2023 → 2024
Total assets
€101k▲ 2.1%
2023 · €99k
2023: €99k
2023 → 2024
Net result
€12k
2023 · €-5k
2023: €-5k
2023 → 2024
Working capital
€-14k▲ 43.7%
2023 · €-26k
2023: €-26k
2023 → 2024
Multi-year overview
Available amounts per fiscal year
Line20232024Trend
Equity€-3k-€9k
Operating result€-3k-€16k
Net result€-5k-€12k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2024: €16k after a loss of €3k in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €101k
Fixed assets
€31k ▼ 39.4%
Current assets
€70k ▲ 46.8%
Equity and liabilities €101k
Equity
€9k
Debt
€92k
Debt finances 91.1% of the balance-sheet total.
Key figures and ratios
EBITDA
€40k▲
2023 · €9k
Cash flow
€36k▲
2023 · €8k
Current ratio
0.83▲
2023 · 0.65
Quick ratio
0.77▲
2023 · 0.27
Debt to equity
10.25▲
2023 · -32.58
ROE
134.9%
ROA
12.0%▲
2023 · -4.7%
Interest coverage
29.98▲
2023 · 6.18
Debt ≤ 1 year
€84k▲
2023 · €73k
Debt > 1 year
€8k▼
2023 · €28k
Income taxes
€3k
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 · 2024 against 2023 · 42 lines
Balance sheet
Code20232024
Assets
Total assets20/58€99k€101k▲
Fixed assets21/28€51k€31k▼
Tangible fixed assets22/27€51k€31k▼
Plant, machinery and equipment23-€1k
Furniture and vehicles24€34k€22k▼
Leasing and similar rights25€17k€8k▼
Current assets29/58€48k€70k▲
Stocks and contracts in progress3€28k€5k▼
Stocks30/36€28k€5k▼
Amounts receivable within one year40/41€19k€49k▲
Trade receivables40€14k€17k▲
Other amounts receivable41€5k€32k▲
Cash at bank and in hand54/58€82€16k▲
Equity and liabilities
Total equity and liabilities10/49€99k€101k▲
Equity10/15€-3k€9k▲
Contributions10/11€2k€2k=
Profit (loss) carried forward14€-5k€7k▲
Amounts payable17/49€102k€92k▼
Amounts payable after more than one year17€28k€8k▼
Financial debts170/4€28k€8k▼
Amounts payable within one year42/48€73k€84k▲
Current portion of amounts payable after more than one year42€19k€20k▲
Trade debts44€7k€28k▲
Suppliers440/4€7k€28k▲
Taxes, remuneration and social security45€2k€3k▲
Taxes450/3€2k€3k▲
Other amounts payable47/48€44k€33k▼
Accrued charges and deferred income492/3€1k€201▼
Income statement
Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€12k€23k▲
Other operating charges640/8€749€200▼
Gross operating margin9900€10k€40k▲
Operating profit (loss)9901€-3k€16k▲
Financial income75/76B€2€0▼
Recurring financial income75€2€0▼
Financial charges65/66B€1k€1k▼
Recurring financial charges65€1k€1k▼
Profit (loss) for the period before taxes9903€-5k€15k▲
Income taxes67/77-€3k
Profit (loss) for the period9904€-5k€12k▲
Profit (loss) for the period to be appropriated9905€-5k€12k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-5k€7k▲
Profit (loss) brought forward from the previous period14P-€-5k
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
26-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 57 days late
06-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 279 days late
2024
31-12
Financial
Back to profitnet €12k
Net result €12k after one loss-making year.
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
1 act for this company is 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, Ukkel · 1 establishment unit since 2023
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.
de Huldenbergstraat 171180 UkkelGround area
185 m²
Building footprint
57 m²
Volume, LiDAR
512 m³
Parcel 21616G0143/00B006, Brussels · tallest building 12.1 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
MG RENOVATION
since 20232.343.667.478
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21616G0143/00B006 | Brussels | 185 m² | 1 · 57 m² | 12.1 m · 3 fl. |
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
JAMAR MICHIEL WERKEN
BE 0707.839.682
Tessenderlo-Ham · Eq €8,976
A&R CONSTRUCTION BELGIUM
BE 1003.613.765
Dilbeek · Eq €8,986
MGM PROJECT
BE 0563.839.917
Ukkel · Eq €8,963
ALOOKA
BE 1003.989.887
Anderlecht · Eq €8,988
K & C GROUP CONSTRUCT
BE 1016.390.249
Wavre · Eq €8,961
Of 15,529 companies in sector 43990 we hold annual accounts for 7,423. 3,863 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
Founded30-03-2023
Fiscal year end31-12
Activities, NACEBEL 2025
43990Other specialised construction activities
Sources
Crossroads Bank for EnterprisesNational Bank · 2 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.