Checked.be
Active
BE 0463.721.663Private limited company
MU
Chemin d'Howardries(RON) 8 ·7623 Brunehaut, Belgium· 28 yrs active
Sector: Renting and operating of own or leased non-residential real estate, excluding land
(68203)
Conclusion
MU has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €74k and a net result of €-3k. Equity is shrinking by ~5.6% per year across the filed fiscal years. Its solvency ranks better than 54% of 19339 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.3% (very low).
Based on the State Gazette, CBE and 4 annual accounts.
Key figures
| Equity | €74k |
| Net result | €-3k |
| Better than sector | 54% |
| Active | 28 yrs |
Financial profile
49
/ 100
Mixed profile: strong on stability, weaker on profitability.
All 5 axes are computed from data Checked has read.
Health
38
Profitability
0
Solvency
49
Growth
58
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Long-established
Founded in 1998, 28 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
38
/ 100
Weak
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€3k
estimate, not credit advice
Score history
23
2021
20
2022
62
2023
38
2024
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 0.67 (< 1.0)
-10
Leverage
Debt/equity 1.79 (< 2.0)
+3
Profitability
Negatieve ROE -4%
-10
Interest coverage
Interest coverage 6.2× (≥ 3×)
+8
Profit trend
Net profit down YoY
-3
Computed by Checked from the NBB filing for FY 2024. Indicative, not credit advice.
Financial overview
Annual accounts filed on 28-08-2026 with the NBB · fiscal year 2024 · micro schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
declining
Equity: declining trend of ~5.6%/year over 4 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
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 2024 · NACE 68, Real estate activities · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 35.8% | 31.1% | |
| Net result | €-3k | €4k | |
| Equity | €74k | €87k | |
| Gross operating margin | €6k | €39k | |
| Total assets | €207k | €440k |
€2k
-67.6%
21-24
€-3k
-
21-24
€2k
-72.0%
21-24
€207k
-4.7%
21-24
€74k
-3.6%
21-24
€-44k
-0.7%
21-24
€133k
-5.2%
21-24
€133k
-5.2%
21-24
0.67
-2.9%
21-24
0.67
+9.3%
21-24
35.8%
+1.1%
21-24
1.79
-1.7%
21-24
-3.7%
-
21-24
-1.3%
-
21-24
6.23
-82.5%
21-24
Figures by fiscal year and ratios
| Fiscal year | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema | full schema |
| Revenue | - | - | - | - |
| EBITDA | €2k | €6k | €-7k | €-3k |
| Net profit | €-3k | €2k | €-19k | €-15k |
| Cash flow | €2k | €6k | €-7k | €-3k |
| Staff costs | - | - | - | - |
| Income taxes | - | - | - | - |
| Dividends | - | - | - | - |
| Total assets | €207k | €218k | €209k | €215k |
| Equity | €74k | €77k | €75k | €94k |
| Debt | €133k | €140k | €134k | €121k |
| of which ≤ 1y | €133k | €140k | €134k | €121k |
| of which > 1y | - | - | - | - |
| Working capital | €-44k | €-44k | €-37k | €-26k |
| Employees (FTE) | - | - | - | - |
Note: these years are not on the same basis. The filed schemas differ (micro schema, full schema), so the columns are not directly comparable.
Ratios (computed)
| 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|
| Current ratio | 0.67 | 0.69 | 0.72 | 0.79 |
| Quick ratio | 0.67 | 0.61 | 0.64 | 0.70 |
| Working capital ratio | -21.4% | -20.3% | -17.8% | -12.1% |
| Solvency | 35.8% | 35.4% | 35.9% | 43.7% |
| Debt / equity | 1.79 | 1.82 | 1.78 | 1.29 |
| Long-term debt ratio | - | - | - | - |
| Interest coverage | 6.23 | 35.53 | -76.86 | -8.02 |
| Gross margin | - | - | - | - |
| Net margin | - | - | - | - |
| ROA | -1.3% | 0.8% | -8.9% | -6.8% |
| ROE | -3.7% | 2.4% | -24.9% | -15.7% |
| EBITDA margin | - | - | - | - |
| Days sales outstanding | - | - | - | - |
| Days payable outstanding | - | - | - | 14564d |
| Inventory turnover | - | - | - | 0.28 |
| Days inventory (DSI) | - | - | - | 1291d |
Balance-sheet composition 2024
Full annual accounts (21 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Balance sheet, Assets | |||||
| TOTAL ASSETS | 20/58 | €207k | €218k | €209k | €215k |
| Fixed assets | 21/28 | €119k | €121k | €113k | €120k |
| Tangible fixed assets | 22/27 | €119k | €121k | €113k | €120k |
| Current assets | 29/58 | €89k | €96k | €97k | €95k |
| Stocks & contracts in progress | 3 | - | €11k | €11k | €11k |
| Amounts receivable within one year | 40/41 | €88k | €84k | €85k | €85k |
| Cash & bank | 54/58 | €24 | €1k | €925 | €6 |
| Balance sheet, Equity & liabilities | |||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €207k | €218k | €209k | €215k |
| Equity | 10/15 | €74k | €77k | €75k | €94k |
| Contributions / capital | 10/11 | €100k | €100k | €100k | €100k |
| Reserves | 13 | €10k | €10k | €10k | €10k |
| Accumulated profits (losses) | 14 | €-36k | €-33k | €-35k | €-16k |
| Amounts payable | 17/49 | €133k | €140k | €134k | €121k |
| Amounts payable within one year | 42/48 | €133k | €140k | €134k | €121k |
| Trade debts payable within one year | 44 | €114k | €123k | €129k | €121k |
| Income statement | |||||
| Gross operating margin | 9900 | €6k | €7k | €-6k | €-2k |
| Operating result | 9901 | €-2k | €2k | €-19k | €-14k |
| Financial charges | 65 | €330 | €178 | €95 | €384 |
| Result before taxes | 9903 | €-3k | €2k | €-19k | €-15k |
| Net result for the period | 9904 | €-3k | €2k | €-19k | €-15k |
| Result to be appropriated | 9905 | €-3k | €2k | €-19k | €-15k |
Legal Structure
| NACE primary | Renting and operating of own or leased non-residential real estate, excluding land(68203) |
| Legal form | Private limited company(610) |
| Incorporation | 06-07-1998 |
| Status | Active |
| Postal code | 7623 |
Establishment units
Chemin d'Howardries(RON) 8, 7623 Brunehaut
since 19982.087.624.892
Real-estate footprint
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 57070C0113/00D000 | Wallonia | 2,438 m² | 1 · 212 m² | 8.3 m · 2 fl. |
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.
Updates
2026
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 393 days late
2024
31-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 31 days late
2023
31-12
Financial
Back to profitnet €2k
Net result €2k after 2 loss-making years.
01-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 32 days late
2022
31-12
Financial
Weakest financial yearnet €-19k
Net result drops to €-19k, the lowest in the series; recovery starts the following year.
21-12
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 143 days late
17-02
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 201 days late
2021
24-03
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 236 days late
23-03
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 601 days late
2018
23-11
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 115 days late
2017
23-11
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 115 days late
2016
05-09
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 36 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
Renting and operating of own or leased non-residential real estate, excluding land68203
Names & trade names
| Legal nameFR | MU |
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