M & D
ActiveSummary
M & D has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €159k and a net result of €20k. Equity is growing by ~21.3% per year across the filed fiscal years. Its solvency ranks better than 76% of 7058 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability81▲+2
Solvency100▲+3
Growth78=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €14k at 30 days acceptable
Liquidity ample (current ratio 4.88 against 3.58 in 2024; short-term debt: 20.5% and cash: 94.8% of total assets), and 20.5% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises 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
79.5%
Return on assets
10.1%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 16-08-2026, 16 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 · 10 filingsDeviation from the deadline
2025
16 d late
2024
25 d late
2023
26 d late
2022
20 d late
2021
21 d late
2020
20 d late
2019
27 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, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€20k▲ 21.7%
2024 · €16k
Working capital
€159k▲ 13.8%
2024 · €140k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€27k▼ 4.6%€36k▲ 35.7%€31k▼ 14.0%€27k▼ 11.7%€32k▲ 15.4%
Net result€17k▼ 4.2%€23k▲ 37.9%€20k▼ 13.8%€16k▼ 18.1%€20k▲ 21.7%
Equity€80k▲ 26.7%€104k▲ 29.1%€124k▲ 19.4%€140k▲ 12.6%€159k▲ 13.8%
Total assets€155k▲ 59.2%€167k▲ 8.1%€188k▲ 12.6%€194k▲ 3.0%€200k▲ 3.1%
Debt€74k▲ 121%€63k▼ 14.6%€64k▲ 1.4%€54k▼ 15.7%€41k▼ 24.4%
Working capital€77k▲ 36.9%€103k▲ 34.3%€124k▲ 19.9%€140k▲ 13.0%€159k▲ 13.8%
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 15% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €200k
Equity
€159k ▲ 13.8%
Debt
€41k ▼ 24.4%
Debt's share of the balance-sheet total falls from 27.9% to 20.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€32k▲
2024 · €28k
Cash flow
€20k▲
2024 · €17k
Current ratio
4.88▲
2024 · 3.58
Debt to equity
0.26▼
2024 · 0.39
ROE
12.6%▲
2024 · 11.8%
ROA
10.1%▲
2024 · 8.5%
Interest coverage
18.52▲
2024 · 14.54
Debt ≤ 1 year
€41k▼
2024 · €54k
Income taxes
€10k▲
2024 · €9k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4k | €4k | €378 | €378 | €21 | ▼ 94.5% |
| Other operating charges640/8 | €408 | €762 | €448 | - | €400 | - |
| Gross operating margin9900 | €31k | €41k | €32k | €28k | €32k | ▲ 15.4% |
| Operating profit (loss)9901 | €27k | €36k | €31k | €27k | €32k | ▲ 15.4% |
| Financial charges65/66B | €104 | €78 | €90 | €2k | €2k | ▼ 10.6% |
| Recurring financial charges65 | €104 | €78 | €90 | €2k | €2k | ▼ 10.6% |
| Profit (loss) for the period before taxes9903 | €26k | €36k | €31k | €25k | €30k | ▲ 17.4% |
| Income taxes67/77 | €9k | €13k | €11k | €9k | €10k | ▲ 9.4% |
| Profit (loss) for the period9904 | €17k | €23k | €20k | €16k | €20k | ▲ 21.7% |
| Profit (loss) for the period to be appropriated9905 | €17k | €23k | €20k | €16k | €20k | ▲ 21.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €155k | €167k | €188k | €194k | €200k | ▲ 3.1% |
| Fixed assets21/28 | €4k | €776 | €399 | €21 | - | - |
| Tangible fixed assets22/27 | €4k | €776 | €399 | €21 | - | - |
| Furniture and vehicles24 | €4k | €776 | €399 | €21 | - | - |
| Current assets29/58 | €151k | €166k | €188k | €194k | €200k | ▲ 3.1% |
| Amounts receivable within one year40/41 | €44k | €24k | €27k | €13k | €10k | ▼ 22.5% |
| Trade receivables40 | €44k | €24k | €27k | €13k | €10k | ▼ 22.5% |
| Cash at bank and in hand54/58 | €107k | €142k | €160k | €180k | €189k | ▲ 4.9% |
| Deferred charges and accrued income490/1 | €111 | €220 | €100 | €304 | €393 | ▲ 29.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €155k | €167k | €188k | €194k | €200k | ▲ 3.1% |
| Equity10/15 | €80k | €104k | €124k | €140k | €159k | ▲ 13.8% |
| Contributions10/11 | €6k | €6k | €6k | €6k | €6k | = |
| Reserves13 | €68k | €91k | €111k | €128k | €148k | ▲ 15.7% |
| Tax-exempt reserves132 | €2k | €2k | €2k | €2k | €2k | = |
| Distributable reserves133 | €65k | €88k | €109k | €125k | €145k | ▲ 16.1% |
| Profit (loss) carried forward14 | €7k | €7k | €7k | €6k | €5k | ▼ 14.3% |
| Amounts payable17/49 | €74k | €63k | €64k | €54k | €41k | ▼ 24.4% |
| Amounts payable within one year42/48 | €74k | €63k | €64k | €54k | €41k | ▼ 24.4% |
| Trade debts44 | €19k | - | €7k | - | - | - |
| Suppliers440/4 | €19k | - | €7k | - | - | - |
| Taxes, remuneration and social security45 | €47k | €54k | €46k | €27k | €14k | ▼ 48.4% |
| Taxes450/3 | €29k | €26k | €30k | €27k | €14k | ▼ 48.4% |
| Remuneration and social security454/9 | €18k | €28k | €16k | - | - | - |
| Other amounts payable47/48 | €9k | €9k | €11k | €27k | €27k | ▼ 0.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €17k | €23k | €20k | €16k | €20k | ▲ 21.7% |
| + Depreciation and write-downs630 | €4k | €4k | €378 | €378 | €21 | ▼ 94.5% |
| Operating cash flow (approximation) | €21k | €27k | €21k | €17k | €20k | ▲ 19.1% |
| Investment in fixed assets (approximation) | - | €-1k | €0 | €0 | - | - |
| Change in cash | - | €35k | €18k | €20k | €9k | ▼ 56.2% |
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
16-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 16 days late
2025
31-12
Financial
Equity above €150kEq €159k ▲13.8%
7 profitable years in a row build equity to €159k.
25-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 25 days late
2024
26-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 26 days late
2023
20-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 20 days late
2022
31-12
Financial
Equity above €100kEq €104k ▲29.1%
4 profitable years in a row build equity to €104k.
21-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 21 days late
2021
20-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 20 days late
2020
27-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 27 days late
2019
31-12
Financial
Back to profitnet €29k
Net result €29k after one loss-making year.
24-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 24 days late
2018
13-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 13 days late
2017
22-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 22 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.
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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, Lasne · 1 establishment unit since 2003
Ground area
1,169 m²
Building footprint
136 m²
Volume, LiDAR
1,587 m³
2 parcels, Brussels, Wallonia · tallest building 18.0 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
M&D
since 20032.126.228.518
2 parcels
Wallonia
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25051F0094/00Z000 | Wallonia | 1,062 m² | 1 · 78 m² | 9.9 m · 3 fl. |
| 21906D0012/00T000 | Brussels | 107 m² | 1 · 58 m² | 18.0 m · 5 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 9,862 companies in sector 73110 we hold annual accounts for 3,752. 2,918 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
Founded31-01-2003
Fiscal year end31-12
Activities, NACEBEL 2025
73110Advertising agencies
Scores and ratios are computed by Checked and are not a credit decision.