M-DIGITAL

Active

Public limited companyfounded 201213 yrs activeBrandekensweg 15, 2627 Schelle, BelgiumKBO/BCE: BE 0500.484.366

Summary

M-DIGITAL has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €276,128 and a net result of €84,205. Equity is growing by ~11.8% per year across the filed fiscal years. Its solvency ranks better than 49% of 184 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).

Risk analysis Watch Report Compare

M-DIGITALActiveChecked score 69/100

Risk analysis Report Compare

Checked score

Score 2025

69 / 100

Healthy

Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability84▼-12

Solvency66▼-21

Growth78=

Track record100

Bankruptcy probability, 12 months

0.2% Very low

0%0.5%1.5%4%10%≥ 25%

Credit up to €19,000 at 30 days acceptable

Liquidity ample (current ratio 1.57 against 2.33 in 2024; short-term debt: 59% and cash: 9.5% of total assets), but 59% of the assets are financed with debt.

Credit check for your own amount and term

Show the recommended maximum : and see how the verdict changes with amount, term and advance.

Signals

Five signals. The signal on the left, the evidence on the right.

−lowers risk○neutral

Lower-failure-rate sector

In this sector companies fail less often than the Belgian average.

Gazette · bankruptcies per sector, NACE 63

Relative position

BE, all sectors

reference

Computing infrastructure, data processing, hosting and other information service activities (NACE 63)

about 52% fewer bankruptcies

← fewer bankruptcies more bankruptcies →

Lower-risk legal form

Companies with this legal form statistically fail less often than a BV.

KBO · legal form

Annual accounts: healthy financial profile

The latest annual accounts show a healthy profile in solvency, result and liquidity.

NBB · annual accounts 2025

Solvency, return and age of the figures

Solvency

41%

Return on assets

12.5%

Age of the figures

9 mo

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

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 filings

Deviation from the deadline

2025

31 d late

2024

21 d early

2023

5 d late

2022

6 d early

2021

20 d early

2020

4 d early

2019

36 d early

← before the deadline after the deadline →

tick = median of all Belgian filingsring = median in the sector

This company filed its last 7 accounts on average 7 days before the deadline; the sector median for financial year 2024 is 10 days before the deadline, and 32% of the sector filed late.

Checked, nothing found (2)

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 months

Position in the running window

28-09-2026 today31-12-2026 close31-07-2027 deadline

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

History

On 26 October 2012, M-DIGITAL was incorporated.¹ Total assets went from EUR 333,525 in 2018 to EUR 674,114 in 2025 and headcount from 25.8 to 16.1 full-time equivalents.²

Go further with this company

How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check What other support did companies like this one receive, and it did not?Public money How does this company compare with its sector?Sector benchmark

Is this your company? See how customers and banks see it.

Investigating this company? Keep it with today's facts in a case file.

Financials · fiscal year 2025, full schema

In the rankings #4 company by equity in Schelle, Telecoms and IT sector #5 company by total assets in Schelle, Telecoms and IT sector #9 oldest company in Schelle, Telecoms and IT sector

Turnover

€1.0m

EBIT margin

18.7%

Net result

€84,205▼ 34.5%

2024 · €128,486

Working capital

€226,841▼ 24.3%

2024 · €299,829

Trend over the years

Chart Table

Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 63, Computing infrastructure, data processing, hosting and other information service activities, each year against the same schema; no band under 30 filings. Dashed line: the median.

Every figure with its change against the fiscal year before

favourable unfavourable

Line20212022202320242025

Turnover€1.0m

Operating result€190,403▼ 24.8%€153,981▼ 19.1%€205,599▲ 33.5%€175,277▼ 14.7%€101,251▼ 42.2%

Net result€136,888▼ 24.4%€115,250▼ 15.8%€152,949▲ 32.7%€128,486▼ 16.0%€84,205▼ 34.5%

EBIT margin18.7%

Equity€277,238▲ 15.3%€292,489▲ 5.5%€345,437▲ 18.1%€373,923▲ 8.2%€276,128▼ 26.2%

Total assets€582,593▼ 1.7%€665,509▲ 14.2%€604,831▼ 9.1%€600,002▼ 0.8%€674,114▲ 12.4%

Debt€305,355▼ 13.3%€373,020▲ 22.2%€259,393▼ 30.5%€226,079▼ 12.8%€397,986▲ 76.0%

Working capital€273,530▲ 29.3%€307,497▲ 12.4%€287,703▼ 6.4%€299,829▲ 4.2%€226,841▼ 24.3%

Solvency47.6%▲ 7.0pp43.9%▼ 3.6pp57.1%▲ 13.2pp62.3%▲ 5.2pp41.0%▼ 21.4pp

Current ratio1.93▲ 0.332.02▲ 0.092.11▲ 0.092.33▲ 0.221.57▼ 0.76

Return on assets (ROA)23.5%▼ 7.0pp17.3%▼ 6.2pp25.3%▲ 8.0pp21.4%▼ 3.9pp12.5%▼ 8.9pp

Staff (FTE)16.1▼ 9.0%17.1▲ 6.2%20.2▲ 18.1%16.8▼ 16.8%16.1▼ 4.2%

above within below the middle half (P25 to P75) of NACE 63, Computing infrastructure, data processing, hosting and other information service activities, each year against the same schema; no band under 30 filings.

Result per fiscal year

Operating resultNet result

The operating result has fallen two years in a row; 2025 is 42% below 2024 and is the lowest result in the available series.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €674,114

92.7%

Fixed assets €49,287 ▼ 33.5%

Current assets €624,828 ▲ 18.8%

Equity and liabilities €674,114

41.0%

59.0%

Equity €276,128 ▼ 26.2%

Debt €397,986 ▲ 76.0%

Debt's share of the balance-sheet total rises from 37.7% to 59.0%. Equity is lower and debt is higher.

Key figures and ratios

2025 value · change against 2024

EBITDA

€126,058▼

2024 · €198,757

Cash flow

€109,012▼

2024 · €151,965

Debt to equity

1.44▲

2024 · 0.60

ROE

30.5%▼

2024 · 34.4%

Interest coverage

46.02▼

2024 · 75.63

Debt ≤ 1 year

€397,986▲

2024 · €226,079

Income taxes

€26,459▼

2024 · €44,200

Staff costs

€607,079▼

2024 · €645,443

Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 17,810 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 97% are still going.

Small
10 to 20 years old
solvency 30% or more
a profit of 5% of the balance sheet or more

0.2% went bankrupt

3.1% stopped otherwise

97% still going

For this company itself Checked computes a bankruptcy probability of 0.2% over twelve months; the group does not contradict it.

How reliable is this rule?

Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.

The companies in ten equal groups, from lowest to highest expected share.
Group	Expected	Actual
1	0.2%	0.2%
2	0.3%	0.4%
3	0.5%	0.5%
4	0.6%	0.7%
5	0.8%	0.9%
6	1.2%	1.3%
7	1.5%	1.7%
8	1.7%	1.7%
9	2.7%	2.8%
10	5.3%	5.7%

The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.

An observation about 17,810 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.

Annual accounts

OverviewIncome statement Balance sheet Cash flow

Filed annual accounts As filed with the NBB · 2025 against 2024 · 48 lines

Balance sheet Code20242025

Assets

Total assets20/58€600,002€674,114▲

Fixed assets21/28€74,094€49,287▼

Intangible fixed assets21-€0

Tangible fixed assets22/27€74,094€49,287▼

Furniture and vehicles24€74,094€49,287▼

Current assets29/58€525,908€624,828▲

Amounts receivable within one year40/41€484,078€540,664▲

Trade receivables40€203,553€327,533▲

Other amounts receivable41€280,525€213,131▼

Cash at bank and in hand54/58€30,169€64,327▲

Deferred charges and accrued income490/1€11,661€19,836▲

Equity and liabilities

Total equity and liabilities10/49€600,002€674,114▲

Equity10/15€373,923€276,128▼

Contributions10/11€61,500€61,500=

Capital10€61,500€61,500=

Issued capital100€61,500€61,500=

Reserves13€312,423€214,628▼

Non-distributable reserves130/1€6,150€6,150=

Legal reserve130€6,150€6,150=

Distributable reserves133€306,273€208,478▼

Amounts payable17/49€226,079€397,986▲

Amounts payable within one year42/48€226,079€397,986▲

Trade debts44€32,633€99,181▲

Suppliers440/4€32,633€99,181▲

Taxes, remuneration and social security45€93,445€116,806▲

Taxes450/3€20,837€49,788▲

Remuneration and social security454/9€72,608€67,018▼

Other amounts payable47/48€100,000€182,000▲

Income statement Code20242025

Remuneration, social security and pensions62€645,443€607,079▼

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€23,479€24,807▲

Other operating charges640/8€4,886€1,512▼

Gross operating margin9900€849,085€734,650▼

Operating profit (loss)9901€175,277€101,251▼

Financial income75/76B€37€12,151▲

Recurring financial income75€37€12,151▲

Financial charges65/66B€2,628€2,739▲

Recurring financial charges65€2,628€2,739▲

Profit (loss) for the period before taxes9903€172,686€110,663▼

Income taxes67/77€44,200€26,459▼

Profit (loss) for the period9904€128,486€84,205▼

Profit (loss) for the period to be appropriated9905€128,486€84,205▼

Appropriation of the result

Profit (loss) to be appropriated9906€128,486€84,205▼

Transfer from equity791/2-€97,795

Transfer to equity691/2€28,486€0▼

To other reserves6921€28,486€0▼

Profit to be distributed694/7€100,000€182,000▲

Return on contributions (dividend)694€100,000€182,000▲

Social balance

Average headcount (FTE)908716.816.1▼

The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line	2021	2022	2023	2024	2025	Change
Turnover70	€1.0m	-	-	-	-	-
Non-recurring operating income76A	-	€11,895	€25,396	-	-	-
Goods, raw materials, services and sundry goods60/61	€338,720	-	-	-	-	-
Remuneration, social security and pensions62	€489,965	€587,432	€639,191	€645,443	€607,079	▼ 5.9%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630	€13,186	€19,728	€13,422	€23,479	€24,807	▲ 5.7%
Other operating charges640/8	€4,328	€4,399	€4,717	€4,886	€1,512	▼ 69.1%
Non-recurring operating charges66A	-	€10,884	-	-	-	-
Gross operating margin9900	€697,882	€776,424	€862,929	€849,085	€734,650	▼ 13.5%
Operating profit (loss)9901	€190,403	€153,981	€205,599	€175,277	€101,251	▼ 42.2%
Financial income75/76B	-	€4,030	-	€37	€12,151	▲ 33,173%
Recurring financial income75	-	€4,030	-	€37	€12,151	▲ 33,173%
Financial charges65/66B	€2,331	€2,299	€2,325	€2,628	€2,739	▲ 4.2%
Recurring financial charges65	€2,331	€2,299	€2,325	€2,628	€2,739	▲ 4.2%
Profit (loss) for the period before taxes9903	€188,072	€155,712	€203,275	€172,686	€110,663	▼ 35.9%
Income taxes67/77	€51,184	€40,462	€50,326	€44,200	€26,459	▼ 40.1%
Profit (loss) for the period9904	€136,888	€115,250	€152,949	€128,486	€84,205	▼ 34.5%
Profit (loss) for the period to be appropriated9905	€136,888	€115,250	€152,949	€128,486	€84,205	▼ 34.5%

Line	2021	2022	2023	2024	2025	Change
Assets
Total assets20/58	€582,593	€665,509	€604,831	€600,002	€674,114	▲ 12.4%
Fixed assets21/28	€15,603	€57,552	€57,735	€74,094	€49,287	▼ 33.5%
Intangible fixed assets21	-	-	-	-	€0	-
Tangible fixed assets22/27	€15,603	€57,552	€57,735	€74,094	€49,287	▼ 33.5%
Furniture and vehicles24	€15,603	€10,388	€57,735	€74,094	€49,287	▼ 33.5%
Leasing and similar rights25	-	€47,165	-	-	-	-
Current assets29/58	€566,990	€607,957	€547,096	€525,908	€624,828	▲ 18.8%
Amounts receivable within one year40/41	€402,202	€301,198	€379,230	€484,078	€540,664	▲ 11.7%
Trade receivables40	€129,202	€290,910	€377,460	€203,553	€327,533	▲ 60.9%
Other amounts receivable41	€273,000	€10,288	€1,770	€280,525	€213,131	▼ 24.0%
Cash at bank and in hand54/58	€160,746	€302,653	€151,538	€30,169	€64,327	▲ 113%
Deferred charges and accrued income490/1	€4,042	€4,106	€16,329	€11,661	€19,836	▲ 70.1%
Equity and liabilities
Total equity and liabilities10/49	€582,593	€665,509	€604,831	€600,002	€674,114	▲ 12.4%
Equity10/15	€277,238	€292,489	€345,437	€373,923	€276,128	▼ 26.2%
Contributions10/11	€61,500	€61,500	€61,500	€61,500	€61,500	=
Capital10	€61,500	€61,500	€61,500	€61,500	€61,500	=
Issued capital100	€61,500	€61,500	€61,500	€61,500	€61,500	=
Reserves13	€215,738	€230,989	€283,937	€312,423	€214,628	▼ 31.3%
Non-distributable reserves130/1	€6,150	€6,150	€6,150	€6,150	€6,150	=
Legal reserve130	€6,150	€6,150	€6,150	€6,150	€6,150	=
Distributable reserves133	€209,588	€224,839	€277,787	€306,273	€208,478	▼ 31.9%
Amounts payable17/49	€305,355	€373,020	€259,393	€226,079	€397,986	▲ 76.0%
Amounts payable after more than one year17	€11,895	€72,561	-	-	-	-
Financial debts170/4	€11,895	€72,561	-	-	-	-
Amounts payable within one year42/48	€293,460	€300,459	€259,393	€226,079	€397,986	▲ 76.0%
Trade debts44	€54,654	€75,320	€61,004	€32,633	€99,181	▲ 204%
Suppliers440/4	€54,654	€75,320	€61,004	€32,633	€99,181	▲ 204%
Taxes, remuneration and social security45	€138,866	€125,140	€98,389	€93,445	€116,806	▲ 25.0%
Taxes450/3	€90,139	€48,598	€41,341	€20,837	€49,788	▲ 139%
Remuneration and social security454/9	€48,727	€76,542	€57,048	€72,608	€67,018	▼ 7.7%
Other amounts payable47/48	€99,940	€100,000	€100,000	€100,000	€182,000	▲ 82.0%

Line	2021	2022	2023	2024	2025	Change
Profit (loss) for the period9904	€136,888	€115,250	€152,949	€128,486	€84,205	▼ 34.5%
+ Depreciation and write-downs630	€13,186	€19,728	€13,422	€23,479	€24,807	▲ 5.7%
Operating cash flow (approximation)	€150,074	€134,978	€166,371	€151,965	€109,012	▼ 28.3%
Investment in fixed assets (approximation)	-	-€61,677	-€13,604	-€39,839	€0	▲ 100%
Change in cash	-	€141,907	-€151,115	-€121,369	€34,158	▲ 128%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

Download as CSV

Timeline · acts, filings and financial milestones

All 12Financial 2Filings 10

Next filing, fiscal year 2026, expected by 31-07-2027

2026

31-08

NBB filing Annual accounts filed

fiscal year 2025 · full schema · 31 days late

2025

10-07

NBB filing Annual accounts filed

fiscal year 2024 · abbreviated schema

2024

05-08

NBB filing Annual accounts filed

fiscal year 2023 · abbreviated schema · 5 days late

2023

25-07

NBB filing Annual accounts filed

fiscal year 2022 · abbreviated schema

2022

11-07

NBB filing Annual accounts filed

fiscal year 2021 · abbreviated schema

2021

27-07

NBB filing Annual accounts filed

fiscal year 2020 · abbreviated schema

2020

31-12

Financial Highest result since 2018net €180,990 ▲360%

Operating result €253,186, net result €180,990, both a record.

25-06

NBB filing Annual accounts filed

fiscal year 2019 · abbreviated schema

2019

31-12

Financial Equity above €200,000Eq €209,360 ▲23.1%

2 profitable years in a row build equity to €209,360.

05-07

NBB filing Annual accounts filed

fiscal year 2018 · abbreviated schema

2018

08-07

NBB filing Annual accounts filed

fiscal year 2017 · abbreviated schema

2017

22-06

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.

0 of 11 acts read

About the unread acts

We know of 11 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.

Have them read with priority Sign in to place this company at the front of the reading queue.

Directors · office · real estate

Directors

11 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, Schelle · 1 establishment unit since 2012

seat establishment The establishment unit on the map

Ground area

1.9 ha

Building footprint

1.2 ha

Volume, LiDAR

110,299 m³

Parcel 11038C0286/00E000, Flanders · tallest building 13.0 m, ±3 floors. Linked by address, not a title deed.

2 companies at this address See who is registered here

1 establishment unit

M-DIGITAL

Brandekensweg 15, 2627 SchelleComputing infrastructure, data processing, hosting and other information service activities

since 20122.213.917.904

1 parcel

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
11038C0286/00E000	Flanders	1.9 ha	1 · 1.2 ha	13.0 m · 3 fl.

Linked by address, not proof of ownership

Good to know

1 of 1 parcel with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Structure & network

Owners and holdings

1 owner

Chain of control

MARNIC H 99.8%
M-DIGITAL

Highest known parent: MARNIC H. The sources do not say who stands above it.

Owners 1

MARNIC Hparent

Sourceaccounts MARNIC H 2025

99.8%

Holdings 0

No holding stated in the accounts, acts or LEI register we read.

According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.

Connections & network

No current directors or connected companies found in the register.

Public money · subsidies and aid

Flemish government

2022 to 2025 · 7 entries · 50,001 EUR awarded · 50,056 EUR paid

Year	Entries	awarded	paid
2025	1	12,025 EUR	12,025 EUR
2024	3	14,770 EUR	14,770 EUR
2023	2	12,332 EUR	12,387 EUR
2022	1	10,874 EUR	10,874 EUR

Schemes

Vlaamse ondersteuningspremie (VOP) voor werkgevers (uitdovend stelsel)

4 entries · 48,537 EUR · 48,537 EUR paid · Departement Werk en Sociale Economie

Vlaams opleidingsverlof (VOV)

1 entry · 1,133 EUR · 1,133 EUR paid · Departement Werk en Sociale Economie

Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)

2 entries · 331 EUR · 386 EUR paid · Fonds voor Innoveren en Ondernemen

Similar companies · same sector, comparable size

Antwerpen · Eq €275,507

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BE 0423.542.679

Seraing · Eq €278,436

Of 3,149 companies in sector 63920 we hold annual accounts for 1,525. 1,119 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector

Identification & contact

Identification

Legal formPublic limited company

Founded26-10-2012

Fiscal year end31-12

Activities, NACEBEL 2025

63100Computing infrastructure, data processing, hosting and related activities

63920Other information service activities

E-invoicing

Reachable via Peppol

Peppol ID 0208:0500484366

Registered 02-12-2025

Scores and ratios are computed by Checked and are not a credit decision.