MD
ActiveSummary
MD has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.6m and a net result of €2,554. Equity is growing by ~11.2% per year across the filed fiscal years. Its solvency ranks better than 66% of 12788 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability50▼-4
Solvency96▲+5
Growth52=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €120,000 at 30 days acceptable
Liquidity ample (current ratio 16.4 against 17.42 in 2024; short-term debt: 1.4% and cash: 5.7% of total assets), and 28.7% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 69
Relative position
BE, all sectors
reference
Legal and accounting activities (NACE 69)
about 77% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
71.3%
Return on assets
0.1%
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 12-08-2026, 12 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
12 d late
2024
7 d early
2023
31 d late
2022
2 d early
2021
18 d late
2020
31 d early
2019
11 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 1 day after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (2)
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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€1.6m▲ 0.2%
2024 · €1.6m
Total assets
€2.2m▼ 6.8%
2024 · €2.3m
Net result
€2,554▼ 74.8%
2024 · €10,122
Working capital
€460,491▼ 19.6%
2024 · €573,097
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 69, Legal and accounting 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€1.1m▲ 3,253%€95,403▼ 91.2%-€7,978€24,302€15,578▼ 35.9%
Net result€789,480above the sector's middle half▲ 3,788%€86,434within the sector's middle half▼ 89.1%-€4,047below the sector's middle half€10,122below the sector's middle half€2,554below the sector's middle half▼ 74.8%
Equity€1.5mabove the sector's middle half▲ 117%€1.6mabove the sector's middle half▲ 5.9%€1.5mabove the sector's middle half▼ 0.3%€1.6mabove the sector's middle half▲ 0.7%€1.6mabove the sector's middle half▲ 0.2%
Total assets€1.8mwithin the sector's middle half▼ 60.1%€1.9mwithin the sector's middle half▲ 2.5%€2.0mabove the sector's middle half▲ 6.1%€2.3mabove the sector's middle half▲ 18.5%€2.2mabove the sector's middle half▼ 6.8%
Debt€66,108▼ 98.3%€25,142▼ 62.0%€145,236▲ 478%€510,032▲ 251%€355,508▼ 30.3%
Working capital€1.7m▲ 184%€1.8m▲ 5.9%€389,942▼ 78.6%€573,097▲ 47.0%€460,491▼ 19.6%
Solvency80.4%above the sector's middle half▲ 65.6pp83.1%above the sector's middle half▲ 2.7pp78.1%above the sector's middle half▼ 5.0pp66.4%within the sector's middle half▼ 11.8pp71.3%within the sector's middle half▲ 5.0pp
Staff (FTE)0.6below the sector's middle half▼ 90.9%
above
within
below
the middle half (P25 to P75) of NACE 69, Legal and accounting 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 falls in 2025; 2025 is 36% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.2m
Fixed assets
€1.7m ▼ 2.5%
Current assets
€490,399 ▼ 19.3%
Equity and liabilities €2.2m
Equity
€1.6m ▲ 0.2%
Provisions
€271,743 ▼ 3.1%
Debt
€355,508 ▼ 30.3%
Debt's share of the balance-sheet total falls from 21.7% to 16.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€58,666▼
2024 · €60,249
Cash flow
€45,643▼
2024 · €46,070
Current ratio
16.40▼
2024 · 17.42
Debt to equity
0.23▼
2024 · 0.33
ROE
0.2%▼
2024 · 0.6%
ROA
0.1%▼
2024 · 0.4%
Interest coverage
3.75▼
2024 · 4.18
Debt ≤ 1 year
€29,908▼
2024 · €34,894
Debt > 1 year
€310,000▼
2024 · €465,000
Income taxes
€10,485▼
2024 · €15,740
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,040 companies that looked in July 2024 the way this one looks now, 0.3% went bankrupt within 24 months and 96% are still going.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
0.3%
went bankrupt
3.6%
stopped otherwise
96%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.1% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| 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% | 1.6% |
| 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 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 6,040 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 | €1.2m | - | - | - | - | - |
| Remuneration, social security and pensions62 | €11,851 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €15,045 | €15,045 | €21,855 | €35,947 | €43,088 | ▲ 19.9% |
| Other operating charges640/8 | €904 | €5,514 | €955 | €16,764 | €5,835 | ▼ 65.2% |
| Non-recurring operating charges66A | €10,265 | €12,114 | €15 | - | - | - |
| Gross operating margin9900 | €1.1m | €128,076 | €14,848 | €77,014 | €64,501 | ▼ 16.2% |
| Operating profit (loss)9901 | €1.1m | €95,403 | -€7,978 | €24,302 | €15,578 | ▼ 35.9% |
| Financial income75/76B | €4,124 | €5,074 | €7,487 | €7,619 | €4,395 | ▼ 42.3% |
| Recurring financial income75 | €4,124 | €5,074 | €7,487 | €7,619 | €4,395 | ▼ 42.3% |
| Financial charges65/66B | €2,567 | €3,814 | €4,630 | €14,413 | €15,643 | ▲ 8.5% |
| Recurring financial charges65 | €2,567 | €3,814 | €4,630 | €14,413 | €15,643 | ▲ 8.5% |
| Profit (loss) for the period before taxes9903 | €1.1m | €96,663 | -€5,121 | €17,509 | €4,329 | ▼ 75.3% |
| Transfer from deferred taxes780 | - | - | €1,688 | €8,354 | €8,710 | ▲ 4.3% |
| Transfer to deferred taxes680 | €290,495 | - | - | - | - | - |
| Income taxes67/77 | €227 | €10,229 | €614 | €15,740 | €10,485 | ▼ 33.4% |
| Profit (loss) for the period9904 | €789,480 | €86,434 | -€4,047 | €10,122 | €2,554 | ▼ 74.8% |
| Transfer from tax-exempt reserves789 | - | - | €5,064 | €25,062 | €26,131 | ▲ 4.3% |
| Transfer to tax-exempt reserves689 | €871,485 | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | -€82,005 | €86,434 | €1,017 | €35,184 | €28,685 | ▼ 18.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.8m | €1.9m | €2.0m | €2.3m | €2.2m | ▼ 6.8% |
| Fixed assets21/28 | €38,428 | €23,382 | €1.6m | €1.7m | €1.7m | ▼ 2.5% |
| Tangible fixed assets22/27 | €38,428 | €23,382 | €1.6m | €1.7m | €1.7m | ▼ 2.5% |
| Land and buildings22 | - | - | €1.6m | €1.7m | €1.7m | ▼ 2.2% |
| Furniture and vehicles24 | €32,098 | €17,934 | €3,770 | €4,511 | €3,519 | ▼ 22.0% |
| Other tangible fixed assets26 | €6,329 | €5,448 | €4,567 | €3,686 | - | - |
| Current assets29/58 | €1.8m | €1.8m | €408,803 | €607,991 | €490,399 | ▼ 19.3% |
| Amounts receivable after more than one year29 | €395,200 | €298,405 | €298,405 | €173,405 | €173,405 | = |
| Other amounts receivable291 | €395,200 | €298,405 | €298,405 | €173,405 | €173,405 | = |
| Amounts receivable within one year40/41 | €233,916 | €207,284 | €89,472 | €67,151 | €21,902 | ▼ 67.4% |
| Trade receivables40 | €15,456 | €36,085 | €10,682 | €13,639 | €11,029 | ▼ 19.1% |
| Other amounts receivable41 | €218,460 | €171,199 | €78,791 | €53,513 | €10,874 | ▼ 79.7% |
| Current investments50/53 | - | - | - | €150,000 | €150,000 | = |
| Cash at bank and in hand54/58 | €1.1m | €1.3m | €5,100 | €194,991 | €125,376 | ▼ 35.7% |
| Deferred charges and accrued income490/1 | €55,305 | €11,063 | €15,825 | €22,443 | €19,716 | ▼ 12.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.8m | €1.9m | €2.0m | €2.3m | €2.2m | ▼ 6.8% |
| Equity10/15 | €1.5m | €1.6m | €1.5m | €1.6m | €1.6m | ▲ 0.2% |
| Contributions10/11 | €263,000 | €263,000 | €263,000 | €263,000 | €263,000 | = |
| Reserves13 | €1.2m | €1.3m | €1.3m | €1.3m | €1.3m | ▲ 0.2% |
| Tax-exempt reserves132 | €871,485 | €871,485 | €866,421 | €841,359 | €815,229 | ▼ 3.1% |
| Distributable reserves133 | €350,400 | €415,400 | €415,400 | €450,400 | €479,000 | ▲ 6.3% |
| Profit (loss) carried forward14 | -€18,356 | €3,078 | €4,096 | €4,280 | €4,365 | ▲ 2.0% |
| Provisions and deferred taxes16 | €290,495 | €290,495 | €288,807 | €280,453 | €271,743 | ▼ 3.1% |
| Deferred taxes168 | €290,495 | €290,495 | €288,807 | €280,453 | €271,743 | ▼ 3.1% |
| Amounts payable17/49 | €66,108 | €25,142 | €145,236 | €510,032 | €355,508 | ▼ 30.3% |
| Amounts payable after more than one year17 | - | - | €125,000 | €465,000 | €310,000 | ▼ 33.3% |
| Financial debts170/4 | - | - | €125,000 | €465,000 | €310,000 | ▼ 33.3% |
| Amounts payable within one year42/48 | €66,108 | €25,142 | €18,861 | €34,894 | €29,908 | ▼ 14.3% |
| Financial debts43 | €25,000 | €8,360 | - | - | - | - |
| Credit institutions430/8 | €25,000 | €8,360 | - | - | - | - |
| Trade debts44 | €24,022 | €555 | €2,497 | €9,634 | €10,639 | ▲ 10.4% |
| Suppliers440/4 | €24,022 | €555 | €2,497 | €9,634 | €10,639 | ▲ 10.4% |
| Taxes, remuneration and social security45 | €4,648 | €12,227 | €10,508 | €15,162 | €14,976 | ▼ 1.2% |
| Taxes450/3 | €4,648 | €12,227 | €10,508 | €15,162 | €14,976 | ▼ 1.2% |
| Other amounts payable47/48 | €12,437 | €4,000 | €5,856 | €10,097 | €4,293 | ▼ 57.5% |
| Accrued charges and deferred income492/3 | - | - | €1,375 | €10,138 | €15,600 | ▲ 53.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €789,480 | €86,434 | -€4,047 | €10,122 | €2,554 | ▼ 74.8% |
| + Depreciation and write-downs630 | €15,045 | €15,045 | €21,855 | €35,947 | €43,088 | ▲ 19.9% |
| Operating cash flow (approximation) | €804,525 | €101,479 | €17,809 | €46,070 | €45,643 | ▼ 0.9% |
| Investment in fixed assets (approximation) | - | €0 | -€1.6m | -€203,324 | €0 | ▲ 100% |
| Change in cash | - | €228,183 | -€1.3m | €189,891 | -€69,615 | ▼ 137% |
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
12-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 12 days late
2025
24-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €10,122
Net result €10,122 after one loss-making year.
31-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 31 days late
2023
31-12
Financial
Weakest financial yearnet -€4,047
Net result drops to -€4,047, the lowest in the series; recovery starts the following year.
29-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Liquidity triplescurrent ratio 73.39
Current ratio from 27.00 to 73.39; short-term debt falls from €66,108 to €25,142.
18-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 18 days late
2021
31-12
Financial
Highest result since 2018net €789,480 ▲3,788%
Operating result €1.1m, net result €789,480, both a record.
31-12
Financial
Liquidity times 23current ratio 27.00
Current ratio from 1.16 to 27.00; short-term debt falls from €3.9m to €66,108.
31-12
Financial
Equity above €1mEq €1.5m ▲117%
4 profitable years in a row build equity to €1.5m.
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
Show earlier events
2020
20-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Equity above €500,000Eq €658,746 ▲53.7%
2 profitable years in a row build equity to €658,746.
05-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
31-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
18-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 18 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
4 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, Diest · 1 establishment unit since 2010
Ground area
1,527 m²
Building footprint
197 m²
Volume, LiDAR
875 m³
Parcel 24097A0241/00D000, Flanders · tallest building 7.1 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Notaris Marc Demaeght
since 20102.190.222.980
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24097A0241/00D000 | Flanders | 1,527 m² | 1 · 197 m² | 7.1 m · 2 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.
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Of 2,261 companies in sector 69102 we hold annual accounts for 1,755. 1,062 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded02-07-2010
Fiscal year end31-12
Abbreviation NL
NBV MD
Activities, NACEBEL 2025
69102Activities of notaries
Contact
E-mail
marc.demaeght56@gmail.com
E-mail
marc.demaeght@notaris.beDiest
Phone
014 84 01 44Diest
E-invoicing
Reachable via Peppol
Peppol ID
0208:0827869759
Also
9925:BE0827869759
Registered
07-01-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.