M.D.R.
ActiveM.D.R. has been active since 1987 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-278k) and a net result of €-285k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 10% of 124 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
41
/ 100
Weak
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0=
Solvency0▼-26
Growth32=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.98 against 1.17 in 2024; short-term debt: 60.4% and cash: 26.5% of total assets), and equity is negative.
Credit advice for your own amount and term
Signals
Ten 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 26
Relative position
BE, all sectors
reference
Sector 26
lower
← fewer bankruptcies
more bankruptcies →
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 · 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
-42.2%
Return on assets
-43.4%
Age of the figures
15 mo
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year €-278k
neutral · Filed after the deadline
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 19-02-2026, 19 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
19 d late
2024
12 d late
2023
87 d late
2022
2 d early
2021
7 d late
2020
4 d early
2019
1 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close16-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€-278k
2024 · €8k
2019: €268k
2020: €325k
2021: €442k
2022: €366k
2023: €197k
2024: €8k
2019 → 2025
Total assets
€658k▼ 1.7%
2024 · €669k
2019: €977k
2020: €1.16M
2021: €931k
2022: €841k
2023: €703k
2024: €669k
2019 → 2025
Net result
€-285k▼ 51.2%
2024 · €-189k
2019: €-108k
2020: €56k
2021: €118k
2022: €-77k
2023: €-169k
2024: €-189k
2019 → 2025
Working capital
€-8k
2024 · €60k
2019: €-104k
2020: €-11k
2021: €144k
2022: €133k
2023: €25k
2024: €60k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€442k-€366k▼ 17.3%€197k▼ 46.3%€8k▼ 96.0%€-278k
Operating result€226k-€-73k€-151k▼ 106%€-229k▼ 51.7%€-280k▼ 22.1%
Net result€118k-€-77k€-169k▼ 121%€-189k▼ 11.5%€-285k▼ 51.2%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €280k in 2025 against €229k in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €658k
Fixed assets
€269k▲ 3.1%
Current assets
€389k▼ 4.8%
Key figures and ratios
EBITDA
€-226k▼
2024 · €-187k
Cash flow
€-231k▼
2024 · €-146k
Solvency
-42.2%▼
2024 · 1.2%
Current ratio
0.98▼
2024 · 1.17
Quick ratio
0.98▼
2024 · 1.17
Debt / equity
-3.37▼
2024 · 83.73
ROA
-43.4%▼
2024 · -28.2%
Interest coverage
-44.20▲
2024 · -46.81
Debt
€935k▲
2024 · €661k
Debt ≤ 1 year
€397k▲
2024 · €348k
Debt > 1 year
€474k▲
2024 · €270k
Income taxes
€330▲
2024 · €-28
Staff costs
€205k▼
2024 · €217k
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€669k€658k▼
Fixed assets21/28€261k€269k▲
Tangible fixed assets22/27€260k€268k▲
Land and buildings22€257k€217k▼
Plant, machinery and equipment23€3k€3k▲
Furniture and vehicles24-€48k
Financial fixed assets28€668€668=
Current assets29/58€408k€389k▼
Amounts receivable within one year40/41€150k€135k▼
Trade receivables40€132k€117k▼
Other amounts receivable41€18k€18k▼
Current investments50/53€79k€79k=
Cash at bank and in hand54/58€179k€174k▼
Equity and liabilities
Total equity and liabilities10/49€669k€658k▼
Equity10/15€8k€-278k▼
Contributions10/11€7k€7k=
Revaluation surpluses12€120k€90k▼
Reserves13€184k€214k▲
Non-distributable reserves130/1€4k€4k=
Reserves not available under the articles1311€4k€4k=
Distributable reserves133€180k€210k▲
Profit (loss) carried forward14€-303k€-588k▼
Amounts payable17/49€661k€935k▲
Amounts payable after more than one year17€270k€474k▲
Financial debts170/4€270k€474k▲
Amounts payable within one year42/48€348k€397k▲
Current portion of amounts payable after more than one year42€13k€21k▲
Trade debts44€293k€334k▲
Suppliers440/4€293k€334k▲
Taxes, remuneration and social security45€43k€43k▼
Taxes450/3€10k€9k▼
Remuneration and social security454/9€33k€33k▼
Accrued charges and deferred income492/3€43k€64k▲
Income statement
Code20242025
Remuneration, social security and pensions62€217k€205k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€42k€55k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€14k€10k▼
Other operating charges640/8€24k€26k▲
Non-recurring operating charges66A€205-
Gross operating margin9900€68k€16k▼
Operating profit (loss)9901€-229k€-280k▼
Financial income75/76B€45k€147▼
Recurring financial income75€541€147▼
Non-recurring financial income76B€44k-
Financial charges65/66B€4k€5k▲
Recurring financial charges65€4k€5k▲
Profit (loss) for the period before taxes9903€-189k€-285k▼
Income taxes67/77€-28€330▲
Profit (loss) for the period9904€-189k€-285k▼
Profit (loss) for the period to be appropriated9905€-189k€-285k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-303k€-588k▼
Profit (loss) brought forward from the previous period14P€-114k€-303k▼
Social balance
Average headcount (FTE)90875.95.7▼
The notes to these accounts (12 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
19-02
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 19 days late
2025
30-06
Financial
Weakest financial yearnet €-285k
Net result drops to €-285k, the lowest in the series.
12-02
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 12 days late
2024
27-04
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 87 days late
2023
29-01
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
07-02
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 7 days late
2021
30-06
Financial
Highest result since 2019net €118k ▲108%
Operating result €226k, net result €118k, both a record.
27-01
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
30-06
Financial
Back to profitnet €56k
Net result €56k after one loss-making year.
30-01
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
11-01
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
25-01
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
27-01
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
1 act for this company is 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, Brussel · 2 establishment units since 1987
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.
Leuvenseweg 241000 BrusselGround area
1,386 m²
Building footprint
1,358 m²
Volume, LiDAR
9,270 m³
2 parcels, Brussels, Flanders · tallest building 23.3 m, ±7 floors. Linked by address, not a title deed.
2 establishment units
ARC
since 19872.032.266.004
H. Dom. Saviolaan 8, 1700 Dilbeek
since 19982.224.942.250
2 parcels
Flanders
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23016A0048/00F008 | Flanders | 1,268 m² | 1 · 1,248 m² | 9.4 m · 2 fl. |
| 21803C0133/00B000 | Brussels | 118 m² | 1 · 109 m² | 23.3 m · 7 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.
1 of these parcels carry protected heritage (source: regional heritage registers, Onroerend Erfgoed / patrimoine.brussels).
Public money · subsidies and aid
Flemish government
2022 to 2025 · 6 entries · 22,661 EUR awarded · 22,661 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 2 | 5,881 EUR | 5,881 EUR |
| 2024 | 1 | 5,797 EUR | 5,797 EUR |
| 2023 | 2 | 6,015 EUR | 6,015 EUR |
| 2022 | 1 | 4,968 EUR | 4,968 EUR |
Schemes
Vlaamse ondersteuningspremie (VOP) voor werkgevers (uitdovend stelsel)
Individueel Maatwerk
Stagebonus (stopgezet)
Recognitions · licences · registrations
Dual-learning approval
2 endedSimilar companies · same sector, comparable size
SITCON
BE 0821.386.793
Maaseik · Eq €12k
Group-EKO
BE 0718.859.179
Huy · Eq €12k
DEPREZ INFORMATICA SYSTEMEN CONSULTING
BE 0458.887.697
Wevelgem · Eq €5k
FOUR SEASONS TRADE
BE 0865.345.809
Watermaal-Bosvoorde · Eq €5k
HUMBLE
BE 0661.686.191
Enghien · Eq €4k
Of 147 companies in sector 26200 we hold annual accounts for 85. 28 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formCoöperatieve vennootschap met beperkte aansprakelijkheid
Founded19-12-1987
Fiscal year end30-06
Activities, NACEBEL
26200Manufacture of computer, electronic and optical products
30020
46500Wholesale of information and communication equipment
46520Wholesale trade
26400Manufacture of computer, electronic and optical products
46660Wholesale trade
47400Retail sale of information and communication equipment
47410Retail trade
51850
52487
Sources
Crossroads Bank for EnterprisesNational Bank · 36 filingsAddress and cadastre registers
Data from official sources, last processed on 16-09-2026. Scores and ratios are computed by Checked and are not a credit decision.