M & D Construct
ActiveSummary
M & D Construct has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €28k and a net result of €-4k. Equity is shrinking by ~17.2% per year across the filed fiscal years. Its solvency ranks better than 95% of 14128 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
74
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability4▲+4
Solvency100=
Growth32=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2k at 30 days acceptable
Liquidity ample (current ratio 96.25 against 55.17 in 2024; short-term debt: 1% and cash: 99% of total assets), and 1% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Sector 68
lower
← 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 2025Solvency, return and age of the figures
Solvency
99%
Return on assets
-13.6%
Age of the figures
18 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
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
19202122232425
2019 to 2025 · latest year €-4k
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 31-10-2025, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
3 d early
2023
6 d late
2022
14 d early
2021
31 d early
2020
31 d early
2019
34 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close25-09-2026 today31-10-2026 deadline
Financials · fiscal year 2025, micro schema
Equity
€28k▼ 12.1%
2024 · €32k
2019: €89k
2020: €63k
2021: €59k
2022: €47k
2023: €42k
2024: €32k
2019 → 2025
Total assets
€29k▼ 12.7%
2024 · €33k
2019: €521k
2020: €79k
2021: €69k
2022: €54k
2023: €46k
2024: €33k
2019 → 2025
Net result
€-4k▲ 59.7%
2024 · €-10k
2019: €272k
2020: €-614
2021: €-4k
2022: €-12k
2023: €-5k
2024: €-10k
2019 → 2025
Working capital
€28k▼ 12.1%
2024 · €32k
2019: €98k
2020: €63k
2021: €59k
2022: €47k
2023: €42k
2024: €32k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€59k-€47k▼ 20.7%€42k▼ 10.9%€32k▼ 23.0%€28k▼ 12.1%
Operating result€-4k-€-12k▼ 198%€-5k▲ 58.4%€-10k▼ 89.1%€-4k▲ 59.9%
Net result€-4k-€-12k▼ 197%€-5k▲ 58.3%€-10k▼ 88.7%€-4k▲ 59.7%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €4k in 2025 against €10k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €29k
Equity
€28k ▼ 12.1%
Debt
€296 ▼ 50.0%
Debt's share of the balance-sheet total falls from 1.8% to 1.0%. Equity and debt are lower.
Key figures and ratios
Current ratio
96.25▲
2024 · 55.17
Debt to equity
0.01▼
2024 · 0.02
ROE
-13.7%▲
2024 · -29.9%
ROA
-13.6%▲
2024 · -29.4%
Debt ≤ 1 year
€296▼
2024 · €593
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 · 26 lines
Balance sheet
Code20242025
Assets
Total assets20/58€33k€29k▼
Current assets29/58€33k€29k▼
Amounts receivable within one year40/41€2k€295▼
Trade receivables40€2k€0▼
Other amounts receivable41€224€295▲
Cash at bank and in hand54/58€30k€28k▼
Equity and liabilities
Total equity and liabilities10/49€33k€29k▼
Equity10/15€32k€28k▼
Contributions10/11€25k€25k=
Reserves13€7k€3k▼
Distributable reserves133€7k€3k▼
Amounts payable17/49€593€296▼
Amounts payable within one year42/48€593€296▼
Trade debts44€462€262▼
Suppliers440/4€462€262▼
Other amounts payable47/48€131€34▼
Income statement
Code20242025
Other operating charges640/8€5k€592▼
Gross operating margin9900€-4k€-3k▲
Operating profit (loss)9901€-10k€-4k▲
Financial charges65/66B€24€29▲
Recurring financial charges65€24€29▲
Profit (loss) for the period before taxes9903€-10k€-4k▲
Profit (loss) for the period9904€-10k€-4k▲
Profit (loss) for the period to be appropriated9905€-10k€-4k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-10k€-4k▲
Transfer from equity791/2€10k€4k▼
The notes to these accounts (1 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
2025
31-10
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2024
28-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
31-03
Financial
Liquidity times 5current ratio 55.17
Current ratio from 10.87 to 55.17; short-term debt falls from €4k to €593.
2023
06-11
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 6 days late
2022
17-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
31-03
Financial
Weakest financial yearnet €-12k
Net result drops to €-12k, the lowest in the series; recovery starts the following year.
2021
30-09
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2020
30-09
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
31-03
Financial
Liquidity quadruplescurrent ratio 4.99
Current ratio from 1.23 to 4.99; short-term debt falls from €423k to €16k.
2019
27-09
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2018
26-09
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
02-10
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2016
23-03
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
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, Gent · 1 establishment unit since 2012
Ground area
191 m²
Building footprint
97 m²
Volume, LiDAR
782 m³
Parcel 44804D3641/00K002, Flanders · tallest building 12.9 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
M & D CONSTRUCT
since 20122.206.640.825
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44804D3641/00K002 | Flanders | 191 m² | 1 · 97 m² | 12.9 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.
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Of 9,693 companies in sector 68121 we hold annual accounts for 7,385. 4,448 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
Founded13-01-2012
Fiscal year end31-03
Activities, NACEBEL 2025
68121Development of residential building projects
68122Development of non-residential building projects
82990Other business support services
Sources
Crossroads Bank for EnterprisesNational Bank · 12 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.