M&D Partnership
ActiveM&D Partnership has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €23k and a net result of €-8k. Equity is growing by ~14.4% per year across the filed fiscal years. Its solvency ranks better than 39% of 9417 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
55
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability1▼-99
Solvency68▼-23
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1k at 30 days acceptable
Liquidity short (current ratio 0.82 against 2.15 in 2024; short-term debt: 57.4% and cash: 29.2% of total assets), and 57.4% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven 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 71
Relative position
BE, all sectors
reference
Sector 71
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
42.6%
Return on assets
-14.2%
Age of the figures
9 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
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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
31 d late
2024
28 d early
2023
23 d late
2022
29 d late
2021
30 d late
2020
26 d late
2019
20 d late
← before the deadline
after the deadline →
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
18-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€23k▼ 30.1%
2024 · €33k
2018: €3k
2019: €-5k
2020: €9k
2021: €31k
2022: €34k
2023: €18k
2024: €33k
2018 → 2025
Total assets
€55k▲ 8.6%
2024 · €50k
2018: €46k
2019: €26k
2020: €43k
2021: €71k
2022: €57k
2023: €39k
2024: €50k
2018 → 2025
Net result
€-8k
2024 · €16k
2018: €3k
2019: €-9k
2020: €14k
2021: €23k
2022: €2k
2023: €-16k
2024: €16k
2018 → 2025
Working capital
€-6k
2024 · €20k
2018: €-1k
2019: €-7k
2020: €7k
2021: €23k
2022: €27k
2023: €12k
2024: €20k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€31k-€34k▲ 7.1%€18k▼ 48.0%€33k▲ 90.2%€23k▼ 30.1%
Operating result€32k-€4k▼ 88.1%€-16k€20k€-7k
Net result€23k-€2k▼ 90.2%€-16k€16k€-8k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €7k after €20k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €55k
Fixed assets
€29k▲ 110%
Current assets
€26k▼ 29.4%
Equity and liabilities €55k
Equity
€23k▼ 30.1%
Debt
€31k▲ 84.4%
The debt ratio rises from 33.8% to 57.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-2k▼
2024 · €24k
Cash flow
€-2k▼
2024 · €19k
Solvency
42.6%▼
2024 · 66.2%
Current ratio
0.82▼
2024 · 2.15
Quick ratio
0.82▼
2024 · 2.15
Debt / equity
1.35▲
2024 · 0.51
ROE
-33.4%▼
2024 · 47.4%
ROA
-14.2%▼
2024 · 31.4%
Interest coverage
-4.81▼
2024 · 27.93
Debt
€31k▲
2024 · €17k
Debt ≤ 1 year
€31k▲
2024 · €17k
Income taxes
€141▼
2024 · €3k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€50k€55k▲
Fixed assets21/28€14k€29k▲
Tangible fixed assets22/27€13k€29k▲
Plant, machinery and equipment23€7k€4k▼
Furniture and vehicles24€7k€25k▲
Financial fixed assets28€285€285=
Current assets29/58€37k€26k▼
Amounts receivable within one year40/41€9k€9k▼
Trade receivables40€9k€9k▼
Cash at bank and in hand54/58€27k€16k▼
Deferred charges and accrued income490/1€736€853▲
Equity and liabilities
Total equity and liabilities10/49€50k€55k▲
Equity10/15€33k€23k▼
Contributions10/11€6k€6k=
Reserves13€20k€20k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€18k€18k=
Profit (loss) carried forward14€7k€-3k▼
Amounts payable17/49€17k€31k▲
Amounts payable within one year42/48€17k€31k▲
Trade debts44€6k€19k▲
Suppliers440/4€6k€19k▲
Taxes, remuneration and social security45€5k€5k▲
Taxes450/3€5k€5k▲
Other amounts payable47/48€6k€8k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€4k€5k▲
Other operating charges640/8€578€527▼
Gross operating margin9900€24k€-1k▼
Operating profit (loss)9901€20k€-7k▼
Financial income75/76B€0€10▲
Recurring financial income75€0€10▲
Financial charges65/66B€851€404▼
Recurring financial charges65€851€404▼
Profit (loss) for the period before taxes9903€19k€-8k▼
Income taxes67/77€3k€141▼
Profit (loss) for the period9904€16k€-8k▼
Profit (loss) for the period to be appropriated9905€16k€-8k▼
Appropriation of the result
Profit (loss) to be appropriated9906€23k€-570▼
Profit (loss) brought forward from the previous period14P€7k€7k=
Transfer to equity691/2€16k-
To other reserves6921€16k-
Profit to be distributed694/7-€2k
Return on contributions (dividend)694-€2k
The notes to these accounts (8 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
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
03-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €16k
Net result €16k after one loss-making year.
23-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 23 days late
2023
31-12
Financial
Weakest financial yearnet €-16k ▼822%
Net result drops to €-16k, the lowest in the series; recovery starts the following year.
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 29 days late
2022
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
2021
31-12
Financial
Highest result since 2018net €23k ▲61.7%
Operating result €32k, net result €23k, both a record.
26-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 26 days late
2020
31-12
Financial
Back to profitnet €14k
Net result €14k after one loss-making year.
20-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 20 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
24-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 24 days late
2017
29-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 29 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
5 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, Elsene · 1 establishment unit since 2012
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.
Terkamerenboslaan 641050 ElseneGround area
1,426 m²
Building footprint
205 m²
Volume, LiDAR
1,780 m³
2 parcels, Brussels, Wallonia · tallest building 16.5 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
M&D Partnership
since 20122.207.647.942
2 parcels
Wallonia
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25763M0608/00M000 | Wallonia | 1,291 m² | 1 · 145 m² | 10.5 m · 3 fl. |
| 21446D0060/00X005 | Brussels | 135 m² | 1 · 60 m² | 16.5 m · 4 fl. |
Linked by address, not proof of ownership
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.
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Of 2,264 companies in sector 71113 we hold annual accounts for 658. 517 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded14-03-2012
Fiscal year end31-12
Activities, NACEBEL
71113Urban planning and landscape architecture
68121Development of residential building projects
49310Scheduled passenger transport by road
53200Other postal and courier activities
81300Landscape service activities
Sources
Crossroads Bank for EnterprisesNational Bank · 13 filingsAddress and cadastre registers
Data from official sources, last processed on 18-09-2026. Scores and ratios are computed by Checked and are not a credit decision.