Active BE 0807.762.847Private limited company

MD LAW

Louizalaan 523 ·1050 Elsene, Belgium· 17 yrs active

Sector: Activities of lawyers (69101)

Conclusion Checked

MD LAW has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €110k and a net result of €35k. Equity is growing by ~10.2% per year across the filed fiscal years. Its solvency ranks better than 85% of 12402 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).

Based on the State Gazette, CBE and 5 annual accounts.

Key figures

Equity	€110k
Net result	€35k
Better than sector	85%
Active	17 yrs

Financial profile 5 of 5 axes measured · computed by Checked

89 / 100

Exceptional profile, strong across almost every axis.

All 5 axes are computed from data Checked has read.

Health 93

Profitability 100

Solvency 100

Growth 52

Stability 100

Bankruptcy probability (12 mo) Checked model v1 · free

0.2% Very low

0%0,5%1,5%4%10%≥25%

How do we compute this?

Risk Assessment rule-based

0 / 100

Low risk

Trust signals 2 signals

Established

Founded in 2008, 17 years in business.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags0 events

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Checked score FY 2025 · computed

93 / 100 Excellent

050100

Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

Indicative credit limit

€10k

estimate, not credit advice

Score history

93 2021

86 2022

100 2023

100 2024

93 2025

purely financial, excl. current insolvency signals

Score components

Liquidity Current ratio 7.04 (≥ 1.5) +10

Quick ratio Quick ratio 7.04 (≥ 1.0) +5

Leverage Debt/equity 0.16 (< 1.0) +10

Profitability ROE 32% (≥ 10%) +10

Interest coverage Interest coverage 60.0× (≥ 3×) +8

Profit trend Net profit down YoY -3

Equity growth Equity growing YoY +3

Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.

Financial overview17 NBB filings

Annual accounts filed on 17-08-2026 with the NBB · fiscal year 2025 · micro schema

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

growing Equity: growth of ~10.2%/year over 5 fiscal years, indicative, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2025 · NACE 69, Legal and accounting activities · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	86.3%	56.7%	better than 85% of 12402 sector peers
Net result	€35k	€38k	better than 47% of 12401 sector peers
Equity	€110k	€90k	better than 55% of 12405 sector peers
Gross operating margin	€60k	€74k	better than 42% of 12398 sector peers
Total assets	€127k	€206k	better than 35% of 12408 sector peers

EBITDA

€59k

-2.6% 21-25

Net profit

€35k

-12.4% 21-25

Cash flow

€42k

-11.9% 21-25

Total assets

€127k

-9.0% 21-25

Equity

€110k

+6.2% 21-25

Working capital

€103k

+7.5% 21-25

Income taxes

€17k

+29.6% 21-25

Dividends

€35k

+250.3% 21-25

Debt

€17k

-51.9% 21-25

Debt ≤ 1y

€17k

-43.1% 21-25

Debt > 1y

€507

-92.2% 21-25

Current ratio

7.04

+67.7% 21-25

Quick ratio

7.04

+67.7% 21-25

Solvency

86.3%

+16.6% 21-25

Debt / equity

0.16

-54.7% 21-25

ROE

32.2%

-17.5% 21-25

ROA

27.8%

-3.8% 21-25

Interest coverage

60.02

-26.5% 21-25

Figures by fiscal year and ratios

Highlight YoY changes (±10%)

Fiscal year	2025	2024	2023	2022	2021
Deposit	micro schema	micro schema	micro schema	micro schema	micro schema
Revenue	-	-	-	-	-
EBITDA	€59k	€61k	€58k	€16k	€55k
Net profit	€35k	€40k	€35k	€3k	€38k
Cash flow	€42k	€48k	€43k	€10k	€39k
Staff costs	-	-	-	-	-
Income taxes	€17k	€13k	€14k	€5k	€16k
Dividends	-	€35k	€10k	-	-
Total assets	€127k	€140k	€151k	€116k	€105k
Equity	€110k	€103k	€98k	€73k	€72k
Debt	€17k	€36k	€52k	€43k	€34k
of which ≤ 1y	€17k	€30k	€40k	€25k	€34k
of which > 1y	€507	€7k	€12k	€18k	-
Working capital	€103k	€95k	€88k	€61k	€36k
Employees (FTE)	-	-	-	-	-

Ratios (computed)

	2025	2024	2023	2022	2021
Current ratio	7.04	4.20	3.21	3.43	2.07
Quick ratio	7.04	4.20	3.21	3.43	2.07
Working capital ratio	80.6%	68.2%	58.8%	52.6%	34.0%
Solvency	86.3%	74.0%	65.1%	62.6%	68.1%
Debt / equity	0.16	0.35	0.54	0.60	0.47
Long-term debt ratio	0.00	0.06	0.13	0.25	-
Interest coverage	60.02	81.72	83.91	23.43	217.16
Gross margin	-	-	-	-	-
Net margin	-	-	-	-	-
ROA	27.8%	28.9%	23.5%	2.3%	36.4%
ROE	32.2%	39.1%	36.1%	3.7%	53.4%
EBITDA margin	-	-	-	-	-
Days sales outstanding	-	-	-	-	-
Days payable outstanding	-	-	-	-	-
Inventory turnover	-	-	-	-	-
Days inventory (DSI)	-	-	-	-	-

Balance-sheet composition 2025

Assets

Fixed assets €8k · 6.1% Current assets €120k · 94.0%

Equity & liabilities

Equity €110k · 86.3% Debt €17k · 13.8%

Full annual accounts (26 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2025	2024	2023	2022	2021
Balance sheet, Assets
TOTAL ASSETS	20/58	€127k	€140k	€151k	€116k	€105k
Fixed assets	21/28	€8k	€15k	€22k	€30k	€36k
Formation expenses	20	-	-	-	€0	€0
Intangible fixed assets	21	-	-	-	€0	€0
Tangible fixed assets	22/27	€8k	€15k	€22k	€30k	€36k
Current assets	29/58	€120k	€125k	€128k	€86k	€69k
Amounts receivable within one year	40/41	€22k	€19k	€10k	€35k	€49k
Investments	50/53	€60k	-	-	-	-
Cash & bank	54/58	€20k	€70k	€62k	€50k	€20k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€127k	€140k	€151k	€116k	€105k
Equity	10/15	€110k	€103k	€98k	€73k	€72k
Contributions / capital	10/11	€1	€1	€1	€1	€1
Reserves	13	€107k	€100k	€95k	€70k	€69k
Accumulated profits (losses)	14	€3k	€3k	€3k	€3k	€3k
Amounts payable	17/49	€17k	€36k	€52k	€43k	€34k
Amounts payable after one year	17	€507	€7k	€12k	€18k	-
Amounts payable within one year	42/48	€17k	€30k	€40k	€25k	€34k
Trade debts payable within one year	44	€144	€2k	€12k	€2k	€601
Income statement
Gross operating margin	9900	€60k	€61k	€59k	€17k	€56k
Operating result	9901	€52k	€53k	€51k	€8k	€54k
Financial income	75	€784	€867	€27	-	€1
Financial charges	65	€983	€741	€695	€686	€255
Result before taxes	9903	€52k	€53k	€50k	€8k	€54k
Income taxes	67/77	€17k	€13k	€14k	€5k	€16k
Net result for the period	9904	€35k	€40k	€35k	€3k	€38k
Result to be appropriated	9905	€35k	€40k	€35k	€3k	€38k

Legal Structure

NACE primary	Activities of lawyers(69101)
Legal form	Private limited company(610)
Incorporation	14-11-2008
Status	Active
Postal code	1050

Establishment units 1 location

Louizalaan 523, 1050 Brussel

Activities of lawyers

since 20092.174.886.587

Real-estate footprint Source: CBE × cadastre

Brussels 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
21822R0226/00W011	Brussels	3,529 m²	1 · 1,878 m²	38.1 m · 7 fl.

Methodology

via registered seat: 1

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

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

Updates 11 events

All 14Financial 3Gazette 1Filings 10

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

2026

17-08

NBB filing Annual accounts filed

fiscal year 2025 · micro schema · 17 days late

2025

03-06

NBB filing Annual accounts filed

fiscal year 2024 · micro schema

2024

31-12

Financial Highest result since 2021net €40k ▲14.1%

Net result €40k, the highest in the series.

31-12

Financial Equity above €100kEq €103k ▲5.5%

4 profitable years in a row build equity to €103k.

25-06

NBB filing Annual accounts filed

fiscal year 2023 · micro schema

2023

20-06

State Gazette act Registered-office change

05-06

NBB filing Annual accounts filed

fiscal year 2022 · micro schema

2022

31-12

Financial Weakest financial yearnet €3k ▼93%

Net result drops to €3k, the lowest in the series; recovery starts the following year.

22-06

NBB filing Annual accounts filed

fiscal year 2021 · micro schema

2021

08-06

NBB filing Annual accounts filed

fiscal year 2020 · micro schema

2020

23-07

NBB filing Annual accounts filed

fiscal year 2019 · micro schema

2019

21-08

NBB filing Annual accounts filed

fiscal year 2018 · micro schema · 21 days late

2018

20-06

NBB filing Annual accounts filed

fiscal year 2017 · micro schema

2017

30-08

NBB filing Annual accounts filed

fiscal year 2016 · micro schema · 30 days late

Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Belgian State Gazette reading coverage 0 of 5 acts read

We know of 5 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.

Belgisch Staatsblad, acts 1 acts

Address history · 1

20-06-2023

Registered-office move

All acts · 1 updated 3 years ago

2023

20-06-2023 Registered office moved within Bruxelles Registered-office change

Avenue Louise 489, 1050 Bruxelles → Avenue Louise 523, 1050 Bruxelles

Original publication ↗

Technical details

{
  "events": [
    {
      "kind": "zetel_transfer",
      "seat_type": "siege_social",
      "new_address": {
        "raw": "Avenue Louise 523, 1050 Bruxelles",
        "city": "Bruxelles",
        "region": "brussels_hoofdstedelijk_gewest",
        "street": "Avenue Louise",
        "country": "BE",
        "postcode": "1050",
        "box_number": null,
        "street_number": "523",
        "locality_suffix": null
      },
      "old_address": {
        "raw": "Avenue Louise 489, 1050 Bruxelles",
        "city": "Bruxelles",
        "region": "brussels_hoofdstedelijk_gewest",
        "street": "Avenue Louise",
        "country": "BE",
        "postcode": "1050",
        "box_number": null,
        "street_number": "489",
        "locality_suffix": null
      },
      "effective_date": "2023-05-01",
      "evidence_quote": "",
      "region_changed": false,
      "is_statute_change": true,
      "nationality_change": false,
      "old_address_source": "header_volledig_adres",
      "statute_clause_text": null,
      "statute_article_number": null,
      "effective_date_qualifier": "absolute",
      "statutaire_vs_werkelijke": "statutaire",
      "linguistic_region_changed": false,
      "court_jurisdiction_changed": false,
      "effective_date_is_approximate": false
    }
  ],
  "notary": {
    "name": null,
    "firm_city": null,
    "firm_name": null,
    "office_city": null,
    "is_associated": false
  },
  "act_meta": {
    "language": "mixed",
    "pub_date": "2023-06-20",
    "filing_date": "2023-06-12",
    "act_kind_objet": "Objet de l\u0027acte:"
  },
  "decision": {
    "body": "enig_aandeelhouder_schriftelijk",
    "date": "2023-06-02",
    "unanimous": null
  },
  "subject_company": {
    "kbo": "0807.762.847",
    "name_full": "MD LAW",
    "legal_form": "SRL"
  },
  "publication_proxy": {
    "kind": "person",
    "org_kbo": null,
    "org_name": null,
    "person_name": "Charles Markowicz",
    "org_rep_person_name": null,
    "person_role_at_subject": "Mandataire"
  },
  "co_filed_documents": []
}

Credit advice verdict per customer and amount

Company registry (CBE) Crossroads Bank

Activities

Activities of lawyers69101

Names & trade names

Legal nameFR

MD LAW

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