MBDX
ActiveSummary
MBDX has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€17,437) and a net result of €27,185. Equity is growing by ~3.8% per year across the filed fiscal years. Its solvency ranks better than 7% of 17220 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+54
Solvency9▲+9
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity ample (current ratio 2.72 against 0.18 in 2024; short-term debt: 27.2% and cash: 11.6% of total assets), but equity is negative.
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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 62
Relative position
BE, all sectors
reference
Computer programming, consultancy and related activities (NACE 62)
about 64% fewer bankruptcies
← 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
-16.4%
Return on assets
25.6%
Age of the figures
12 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 7% of 17220 sector peers (2025).
NBB · sector comparisonPosition among 17220 sector peers
Solvency
better than 7%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 02-04-2026, 28 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
28 d early
2024
5 d early
2023
19 d early
2022
20 d early
2021
34 d early
2020
15 d early
2019
27 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 21 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 33% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today. Usually files around 10 April (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today30-09-2026 close30-04-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
-€17,437▲ 60.9%
2024 · -€44,622
Total assets
€106,130▲ 24.8%
2024 · €85,051
Net result
€27,185▲ 3,385%
2024 · €780
Working capital
€49,617
2024 · -€33,405
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 62, Computer programming, consultancy and related 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
Operating result-€19,673-€8,908▲ 54.7%€27,700€5,738▼ 79.3%€46,414▲ 709%
Net result-€23,178below the sector's middle half-€9,189below the sector's middle half▲ 60.4%€23,585within the sector's middle half€780below the sector's middle half▼ 96.7%€27,185within the sector's middle half▲ 3,385%
Equity-€59,798below the sector's middle half▼ 63.3%-€68,987below the sector's middle half▼ 15.4%-€45,402below the sector's middle half▲ 34.2%-€44,622below the sector's middle half▲ 1.7%-€17,437below the sector's middle half▲ 60.9%
Total assets€13,611below the sector's middle half▼ 61.9%€7,907below the sector's middle half▼ 41.9%€69,917within the sector's middle half▲ 784%€85,051within the sector's middle half▲ 21.6%€106,130within the sector's middle half▲ 24.8%
Debt€73,409▲ 1.4%€76,894▲ 4.7%€115,319▲ 50.0%€129,674▲ 12.4%€123,568▼ 4.7%
Working capital-€57,885below the sector's middle half▼ 117%-€74,819below the sector's middle half▼ 29.3%€7,161below the sector's middle half-€33,405below the sector's middle half€49,617within the sector's middle half
Solvency-439.3%below the sector's middle half▼ 336.9pp-872.5%below the sector's middle half▼ 433.1pp-64.9%below the sector's middle half▲ 807.5pp-52.5%below the sector's middle half▲ 12.5pp-16.4%below the sector's middle half▲ 36.0pp
Current ratio0.09below the sector's middle half▼ 0.390.03below the sector's middle half▼ 0.061.23below the sector's middle half▲ 1.200.18below the sector's middle half▼ 1.052.72within the sector's middle half▲ 2.54
Return on assets (ROA)-170.3%below the sector's middle half▼ 186.0pp-116.2%below the sector's middle half▲ 54.1pp33.7%above the sector's middle half▲ 149.9pp0.9%below the sector's middle half▼ 32.8pp25.6%within the sector's middle half▲ 24.7pp
above
within
below
the middle half (P25 to P75) of NACE 62, Computer programming, consultancy and related activities, each year against the same schema; no band under 30 filings.
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 recovers in 2025; 2025 is 709% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €106,130
Fixed assets
€27,663 ▼ 64.4%
Current assets
€78,468 ▲ 958%
Key figures and ratios
EBITDA
€56,903▲
2024 · €15,539
Cash flow
€37,674▲
2024 · €10,581
Debt to equity
-7.09▼
2024 · -2.91
Interest coverage
9.42▲
2024 · 3.13
Debt ≤ 1 year
€28,850▼
2024 · €40,823
Debt > 1 year
€80,000=
2024 · €80,000
Income taxes
€13,200
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,632 companies that looked in July 2024 the way this one looks now, 2.9% went bankrupt within 24 months and 92% are still going.
- Micro
- 10 to 20 years old
- negative equity
- a profit of 5% of the balance sheet or more
2.9%
went bankrupt
4.8%
stopped otherwise
92%
still going
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.2% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 3,632 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
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €250 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,302 | €2,368 | €2,981 | €9,801 | €10,489 | ▲ 7.0% |
| Other operating charges640/8 | - | €102 | €1,369 | €1,429 | €1,472 | ▲ 3.0% |
| Non-recurring operating charges66A | - | - | €75 | - | €279 | - |
| Gross operating margin9900 | -€16,142 | -€6,438 | €32,124 | €16,969 | €58,654 | ▲ 246% |
| Operating profit (loss)9901 | -€19,673 | -€8,908 | €27,700 | €5,738 | €46,414 | ▲ 709% |
| Financial income75/76B | - | - | €0 | €0 | €10 | ▲ 14,214% |
| Recurring financial income75 | - | - | €0 | €0 | €10 | ▲ 14,214% |
| Financial charges65/66B | - | €282 | €4,115 | €4,958 | €6,039 | ▲ 21.8% |
| Recurring financial charges65 | €864 | €282 | €4,115 | €4,958 | €6,039 | ▲ 21.8% |
| Profit (loss) for the period before taxes9903 | -€20,537 | -€9,189 | €23,585 | €780 | €40,385 | ▲ 5,078% |
| Income taxes67/77 | €2,641 | - | - | - | €13,200 | - |
| Profit (loss) for the period9904 | -€23,178 | -€9,189 | €23,585 | €780 | €27,185 | ▲ 3,385% |
| Profit (loss) for the period to be appropriated9905 | -€23,178 | -€9,189 | €23,585 | €780 | €27,185 | ▲ 3,385% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €13,611 | €7,907 | €69,917 | €85,051 | €106,130 | ▲ 24.8% |
| Fixed assets21/28 | €8,225 | €5,832 | €31,447 | €77,633 | €27,663 | ▼ 64.4% |
| Intangible fixed assets21 | - | - | €21,633 | €57,633 | €12,833 | ▼ 77.7% |
| Tangible fixed assets22/27 | €8,200 | €5,832 | €9,813 | €20,000 | €14,829 | ▼ 25.9% |
| Plant, machinery and equipment23 | - | €634 | €3,484 | €3,895 | €2,940 | ▼ 24.5% |
| Furniture and vehicles24 | - | €1,522 | €651 | €11,816 | €8,990 | ▼ 23.9% |
| Other tangible fixed assets26 | - | €3,676 | €5,679 | €4,289 | €2,899 | ▼ 32.4% |
| Financial fixed assets28 | €25 | - | - | - | - | - |
| Current assets29/58 | €5,386 | €2,075 | €38,470 | €7,418 | €78,468 | ▲ 958% |
| Amounts receivable within one year40/41 | €4,090 | €362 | €37,171 | €1,101 | €66,157 | ▲ 5,909% |
| Trade receivables40 | - | €250 | €37,171 | €1,101 | €66,157 | ▲ 5,909% |
| Other amounts receivable41 | - | €112 | - | - | - | - |
| Cash at bank and in hand54/58 | €1,256 | €1,694 | €598 | €5,931 | €12,311 | ▲ 108% |
| Deferred charges and accrued income490/1 | - | €18 | €701 | €386 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €13,611 | €7,907 | €69,917 | €85,051 | €106,130 | ▲ 24.8% |
| Equity10/15 | -€59,798 | -€68,987 | -€45,402 | -€44,622 | -€17,437 | ▲ 60.9% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €13,310 | €13,310 | €13,310 | €13,310 | €13,310 | = |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | €11,450 | €11,450 | €11,450 | €11,450 | = |
| Profit (loss) carried forward14 | -€91,708 | -€100,897 | -€77,312 | -€76,532 | -€49,347 | ▲ 35.5% |
| Amounts payable17/49 | €73,409 | €76,894 | €115,319 | €129,674 | €123,568 | ▼ 4.7% |
| Amounts payable after more than one year17 | €10,138 | - | €80,000 | €80,000 | €80,000 | = |
| Financial debts170/4 | - | - | €80,000 | €80,000 | €80,000 | = |
| Amounts payable within one year42/48 | €63,271 | €76,894 | €31,309 | €40,823 | €28,850 | ▼ 29.3% |
| Trade debts44 | €828 | €480 | €5,962 | €743 | €1,660 | ▲ 123% |
| Suppliers440/4 | - | €480 | €5,962 | €743 | €1,660 | ▲ 123% |
| Taxes, remuneration and social security45 | - | - | €3,148 | €1,429 | €24,668 | ▲ 1,626% |
| Taxes450/3 | - | - | €3,148 | €1,429 | €21,397 | ▲ 1,397% |
| Remuneration and social security454/9 | - | - | - | - | €3,270 | - |
| Other amounts payable47/48 | - | €76,414 | €22,199 | €38,651 | €2,522 | ▼ 93.5% |
| Accrued charges and deferred income492/3 | - | - | €4,010 | €8,851 | €14,717 | ▲ 66.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€23,178 | -€9,189 | €23,585 | €780 | €27,185 | ▲ 3,385% |
| + Depreciation and write-downs630 | €3,302 | €2,368 | €2,981 | €9,801 | €10,489 | ▲ 7.0% |
| Operating cash flow (approximation) | -€19,875 | -€6,822 | €26,566 | €10,581 | €37,674 | ▲ 256% |
| Investment in fixed assets (approximation) | - | €25 | -€28,595 | -€55,988 | €39,482 | ▲ 171% |
| Change in cash | - | €439 | -€1,097 | €5,334 | €6,380 | ▲ 19.6% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
02-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-09
Financial
Highest result since 2018net €27,185 ▲3,385%
Operating result €46,414, net result €27,185, both a record.
30-09
Financial
Liquidity times 15current ratio 2.72
Current ratio from 0.18 to 2.72; short-term debt falls from €40,823 to €28,850.
25-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
11-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-09
Financial
Back to profitnet €23,585
Net result €23,585 after 2 loss-making years.
30-09
Financial
Liquidity times 46current ratio 1.23
Current ratio from 0.03 to 1.23; short-term debt falls from €76,894 to €31,309.
10-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
27-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
15-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
03-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
30-09
Financial
Back to profitnet €2,660
Net result €2,660 after one loss-making year.
Show earlier events
14-04
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
21-03
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
28-04
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 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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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, Mortsel · 1 establishment unit since 2009
Ground area
184 m²
Building footprint
75 m²
Volume, LiDAR
548 m³
Parcel 11513C0439/00E012, Flanders · tallest building 11.6 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
MBDX BV
since 20092.181.805.954
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11513C0439/00E012 | Flanders | 184 m² | 1 · 75 m² | 11.6 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.
Public money · subsidies and aid
Flemish government
2023 to 2025 · 3 entries · 8,085 EUR awarded · 14,685 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 7,200 EUR | 7,200 EUR |
| 2024 | 1 | 0 EUR | 885 EUR |
| 2023 | 1 | 885 EUR | 6,600 EUR |
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 30,008 companies in sector 62200 we hold annual accounts for 18,398. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded09-10-2009
Fiscal year end30-09
Activities, NACEBEL 2025
62200Computer consultancy and computer facilities management
63100Computing infrastructure, data processing, hosting and related activities
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0819468569
Also
9925:BE0819468569
Registered
21-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.