Checked.be
Active
BE 0845.748.146Private limited company
M&D LOGISTICS
Boshoek 278 B ·2530 Boechout, Belgium· 14 yrs active
Sector: Renting and operating of own or leased residential real estate, excluding social housing
(68201)
Conclusion
M&D LOGISTICS has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €633k and a net result of €130k. Equity is growing by ~98.7% per year across the filed fiscal years. Its solvency ranks better than 79% of 19340 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.3% (very low).
Based on the State Gazette, CBE and 5 annual accounts.
Key figures
| Equity | €633k |
| Net result | €130k |
| Better than sector | 79% |
| Active | 14 yrs |
Financial profile
94
/ 100
Exceptional profile, strong across almost every axis.
All 5 axes are computed from data Checked has read.
Health
93
Profitability
100
Solvency
100
Growth
78
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Established
Founded in 2012, 14 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
93
/ 100
Excellent
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
€60k
estimate, not credit advice
Score history
15
2020
44
2021
69
2022
100
2023
93
2024
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 6.18 (≥ 1.5)
+10
Quick ratio
Quick ratio 6.18 (≥ 1.0)
+5
Leverage
Debt/equity 0.27 (< 1.0)
+10
Profitability
ROE 21% (≥ 10%)
+10
Interest coverage
Interest coverage 32.5× (≥ 3×)
+8
Profit trend
Net profit down YoY
-3
Equity growth
Equity growing YoY
+3
Computed by Checked from the NBB filing for FY 2024. Indicative, not credit advice.
Financial overview
Annual accounts filed on 17-06-2025 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.
growing
Equity: growth of ~98.7%/year over 5 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 | 70.6% | 31.1% | |
| Net result | €130k | €4k | |
| Equity | €633k | €87k | |
| Gross operating margin | €199k | €39k | |
| Total assets | €897k | €441k |
€199k
-56.0%
20-24
€130k
-62.9%
20-24
€145k
-59.0%
20-24
€897k
+14.2%
20-24
€633k
+25.9%
20-24
€691k
-1.3%
20-24
€54k
+30167.2%
20-24
€168k
-10.2%
20-24
€133k
+112.7%
20-24
€35k
-63.5%
20-24
6.18
-49.2%
20-24
6.18
-49.2%
20-24
70.6%
+10.3%
20-24
0.27
-28.7%
20-24
20.6%
-70.5%
20-24
14.5%
-67.5%
20-24
32.46
-87.6%
20-24
Figures by fiscal year and ratios
| Fiscal year | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema | micro schema | micro schema |
| Revenue | - | - | - | - | - |
| EBITDA | €199k | €451k | €118k | €42k | €49k |
| Net profit | €130k | €351k | €79k | €3k | €-183k |
| Cash flow | €145k | €354k | €116k | €40k | €-146k |
| Staff costs | - | - | - | - | - |
| Income taxes | €54k | €180 | €197 | €84 | - |
| Dividends | - | - | - | - | - |
| Total assets | €897k | €786k | €395k | €397k | €461k |
| Equity | €633k | €503k | €152k | €72k | €70k |
| Debt | €168k | €187k | €244k | €324k | €392k |
| of which ≤ 1y | €133k | €63k | €66k | €54k | €91k |
| of which > 1y | €35k | €95k | €174k | €260k | €299k |
| Working capital | €691k | €699k | €-17k | €-34k | €-44k |
| Employees (FTE) | - | - | - | - | - |
Ratios (computed)
| 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|
| Current ratio | 6.18 | 12.16 | 0.74 | 0.37 | 0.52 |
| Quick ratio | 6.18 | 12.16 | 0.74 | 0.37 | 0.52 |
| Working capital ratio | 77.0% | 89.0% | -4.3% | -8.5% | -9.5% |
| Solvency | 70.6% | 64.0% | 38.3% | 18.2% | 15.1% |
| Debt / equity | 0.27 | 0.37 | 1.61 | 4.49 | 4.29 |
| Long-term debt ratio | 0.05 | 0.19 | 1.15 | 3.60 | 4.29 |
| Interest coverage | 32.46 | 261.18 | 54.87 | 15.02 | - |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | 14.5% | 44.7% | 20.1% | 0.6% | -39.7% |
| ROE | 20.6% | 69.9% | 52.3% | 3.5% | -262.9% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Balance-sheet composition 2024
Full annual accounts (26 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €897k | €786k | €395k | €397k | €461k |
| Fixed assets | 21/28 | €73k | €24k | €347k | €377k | €414k |
| Tangible fixed assets | 22/27 | €73k | €24k | €347k | €377k | €414k |
| Financial fixed assets | 28 | €157 | €157 | €157 | €157 | €157 |
| Current assets | 29/58 | €824k | €762k | €49k | €20k | €48k |
| Amounts receivable within one year | 40/41 | €3k | €29k | €20k | €17k | €36k |
| Investments | 50/53 | €715k | €600k | - | - | - |
| Cash & bank | 54/58 | €103k | €131k | €26k | €361 | €9k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €897k | €786k | €395k | €397k | €461k |
| Equity | 10/15 | €633k | €503k | €152k | €72k | €70k |
| Contributions / capital | 10/11 | €242k | €242k | €242k | €242k | - |
| Reserves | 13 | €391k | €298k | €11k | €11k | €11k |
| Accumulated profits (losses) | 14 | €159 | €-37k | €-101k | €-181k | €-183k |
| Provisions & deferred taxes | 16 | €96k | €96k | - | - | - |
| Amounts payable | 17/49 | €168k | €187k | €244k | €324k | €392k |
| Amounts payable after one year | 17 | €35k | €95k | €174k | €260k | €299k |
| Amounts payable within one year | 42/48 | €133k | €63k | €66k | €54k | €91k |
| Trade debts payable within one year | 44 | €4k | €31k | €2k | €1k | €2k |
| Income statement | ||||||
| Gross operating margin | 9900 | €199k | €456k | €123k | €47k | €53k |
| Operating result | 9901 | €184k | €449k | €82k | €5k | €12k |
| Financial income | 75 | €7k | €217 | - | €1 | €0 |
| Financial charges | 65 | €6k | €2k | €2k | €3k | €3k |
| Result before taxes | 9903 | €185k | €447k | €80k | €3k | €8k |
| Income taxes | 67/77 | €54k | €180 | €197 | €84 | - |
| Net result for the period | 9904 | €130k | €351k | €79k | €3k | €8k |
| Result to be appropriated | 9905 | €130k | €65k | €79k | €3k | €8k |
Legal Structure
| NACE primary | Renting and operating of own or leased residential real estate, excluding social housing(68201) |
| Legal form | Private limited company(610) |
| Incorporation | 03-05-2012 |
| Status | Active |
| Postal code | 2530 |
Establishment units
M&D Logistics
since 20122.224.818.526
Real-estate footprint
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11004C0647/00H000 | Flanders | 3,140 m² | 1 · 232 m² | 7.9 m · 2 fl. |
| 11004C0647/00E000 | Flanders | 786 m² | 1 · 193 m² | 8.7 m · 2 fl. |
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates
2025
17-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
08-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2020net €351k ▲343%
Operating result €449k, net result €351k, both a record.
31-12
Financial
Liquidity times 16current ratio 12.16
Current ratio from 0.74 to 12.16; short-term debt falls from €66k to €63k.
31-12
Financial
Equity above €500kEq €503k ▲232%
3 profitable years in a row build equity to €503k.
12-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Equity above €150kEq €152k ▲110%
2 profitable years in a row build equity to €152k.
08-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €3k
Net result €3k after one loss-making year.
14-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
25-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
04-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
03-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
07-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
04-07
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.
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 residential real estate, excluding social housing68201Non-specialised wholesale trade46900Renting and operating of own or leased non-residential real estate, excluding land68203Business and other management consultancy70200Business consulting70220
Names & trade names
| Legal nameNL | M&D LOGISTICS |
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