Equity
€222,192 ▲ 21.4%
MD Métal paid out €20,000 in dividends. That is 34% of the 2025 profit.
MD Métal
Lifetime
6 annual accounts with figures on one time axispeak €393,341 (2024)
€244,679▼ 37.8%
lowest -€47,875 (2023)
€59,197▼ 67.0%
peak €222,192 (2025)
€222,192▲ 21.4%
€766,758▼ 10.3%
Board3 names since 2019
2 directorsPETROV LIUTIENCO Catalin and 1 other
Documentsfilings and deeds
24-09-202655 days late
2025micro format
Gross margin from €393,341 to €244,679Result from €179,385 to €59,197Dividend €20,000Equity from €182,995 to €222,192Investments €144,176Cash from €301,322 to €175,807
Key points
from the 2025 annual accountsResult
€59,197 ▼ 67.0%
The result fell in 2025 from €179,385 to €59,197.
Debts
€766,758 78% of the balance sheet
Financial debts 46%Suppliers 41%Taxes and wages 4%Other 9%
Of this, €411,983 falls due within a year.
Investments
€144,176 3.2 × depreciation
Green is investment, beige is depreciation. Machinery stands 33.3% higher than in 2024.
Filings
6 annual accounts 6 late
The 2024 accounts came latest: 56 days after the end of the period.
Position in the sector
€59,197
Higher net result than 89% of companies in specialised construction. Sector median €10,184 · 35,124 companies.
Checked score
67
Healthy
Financially stronger than 46% of micro companies in specialised construction (NACE 43)
Probability in this band: 0.55% to 1.5%
Bankruptcy probability within 12 months
0.9% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.7% across 47,693 companies (NACE 43, micro).
About 9 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 2.4%
01-2025: 2.4%● unchanged vs 12-2024
02-2025: 2.4%● unchanged vs 01-2025
03-2025: 2.4%● unchanged vs 02-2025
04-2025: 2.4%● unchanged vs 03-2025
05-2025: 2.5%▲ +0.1 percentage points vs 04-2025
06-2025: 2.6%▲ +0.1 percentage points vs 05-2025
07-2025: 2.6%● unchanged vs 06-2025
08-2025: 3.0%▲ +0.4 percentage points vs 07-2025
09-2025: 3.1%▲ +0.1 percentage points vs 08-2025highest value
10-2025: 0.7%▼ -2.4 percentage points vs 09-2025
11-2025: 0.7%● unchanged vs 10-2025
12-2025: 0.7%● unchanged vs 11-2025
01-2026: 0.7%● unchanged vs 12-2025lowest value
02-2026: 0.7%● unchanged vs 01-2026
03-2026: 0.7%● unchanged vs 02-2026
04-2026: 0.7%● unchanged vs 03-2026
05-2026: 0.7%● unchanged vs 04-2026
06-2026: 0.8%▲ +0.1 percentage points vs 05-2026
07-2026: 0.9%▲ +0.1 percentage points vs 06-2026
08-2026: 1.4%▲ +0.5 percentage points vs 07-2026
09-2026: 1.6%▲ +0.2 percentage points vs 08-2026
10-2026: 0.9%▼ -0.7 percentage points vs 09-2026
11-2026: 0.9%● unchanged vs 10-2026
Financial strengthAverage
Score breakdown
raises risk
Last filed accounts filed 55 days late; 2 of the last 3 accounts late
Sector: Specialised construction activities (NACE 43)
lowers risk
Size: total assets €988,949
Liquidity: current ratio 1.36, cash €175,807
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 43, micro). It does better than 24% of them on solvency, 48% on liquidity, 44% on profitability and 69% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 6,713 companies had the same profile as MD Métal has now. Each dot stands for 17 companies, two years later.
95.8%
were still trading
2.2%
stopped another way
1.8%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of MD Métal itself: 0.9% within 12 months.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 6,713 companies, not a prediction for MD Métal. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €14,000 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.36 (1.29 in 2024), below the usual 1.5. Short-term debt is 41.7% and cash 17.8% of total assets. 77.5% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises risk
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 24% of 35136 sector peers (2025).
NBB · sector comparisonPosition among 35136 sector peers
Solvency
better than 24%
← weakest
strongest →
raises risk · 2025 accounts filed 55 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 24-09-2026, 55 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 6 filingsDeviation from the deadline
2025
55 days late
2024
56 days late
2023
30 days late
2022
31 days late
2021
30 days late
2020
18 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 6 accounts on average 37 days after the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 31 August (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
PC
PETROV Coca
Director
- PETROV LIUTIENCO Catalin founderdeed of 03-06-2019
- PETROV LIUTIENCO née BUCOS Lacramioara Coca founderdeed of 03-06-2019
Recent changes
Registered-office move
Board meeting of 10-03-2026 · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0726840004
Incorporation
Founders: PETROV LIUTIENCO Catalin and PETROV LIUTIENCO née BUCOS Lacramioara Coca · Founding capital of €10,000, 100 shares · Appointments: PETROV LIUTIENCO Catalin (director) and PETROV LIUTIENCO Lacramioara (director) · published on 03-06-2019 · Gazette deed
Incorporation
Founders: PETROV LIUTIENCO Catalin and PETROV LIUTIENCO née BUCOS Lacramioara Coca · Founding capital of €10,000, 100 shares · Appointments: PETROV LIUTIENCO Catalin (director) and PETROV LIUTIENCO Lacramioara (director) · published on 20-05-2019 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| MD Métal Herve | €1.0m | €244,679 | 22.5% | - |
| DOLGA Maasmechelen | €0.8m | €260,999 | 30.0% | 3.8 |
| COLOR PRO FACADE Liège | €0.9m | €180,419 | 25.7% | - |
| HG Vloerisolatie Houthalen-Helchteren | €0.8m | €242,599 | 56.7% | 1 |
| Petac Izegem | €0.7m | €292,525 | 47.9% | 2.4 |
| HUMIHOUSE Manage | €1.0m | €361,669 | 39.5% | 3.3 |
| Sealed Expert Beveren-Kruibeke-Zwijndrecht | €0.8m | €185,620 | 25.7% | 0 |
These companies have the same main activity as MD Métal: insulation installation (NACE 43230). They are comparable in size and age: total assets between €740,000 and €1m, founded between 2017 and 2020.
Official details
Source: KBO- Status
- Active since 16-05-2019Normal situation
- Activity
- Insulation installationNACE 43230and 4 others
- Joint committee
- 124Construction · annual accounts 2025
- Establishment unit
- 2.290.016.2834650 Herve, since 16-05-2019
- Financial year end
- 31 December
- Peppol
- Reachable since 06-01-2026
Annual accounts 2025
- ≈ €760,000estimated
- €988,949▼ 4.7%
- Employeeson 31-12-2025
- 1▼ 50.0%
- Filing
- Filed on 24-09-2026
Insights on MD Métal
MD Métal files the micro format. That format states no turnover. The gross margin rose from €175,561 in 2020 to €244,679 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about MD Métal
- What is the company number of MD Métal?
- The company number of MD Métal is 0726.840.004. The VAT number is the same number with BE in front: BE 0726.840.004.
- Where is MD Métal based?
- The registered office is at Levée Gérard 11, 4650 Herve.Company details
- What does MD Métal do?
- According to the KBO register, the main activity is insulation installation (NACE 43230).
- What is the legal form of MD Métal?
- MD Métal is a private limited company (BV).
- When was MD Métal founded?
- MD Métal was founded on 16-05-2019.
- Is MD Métal still active?
- Yes, MD Métal is an active enterprise in the KBO register.
- How many employees does MD Métal have?
- MD Métal had an average of 1.4 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does MD Métal fall under?
- In its 2025 annual accounts, MD Métal states joint committee 124 (Construction).
- What is the turnover of MD Métal?
- The turnover in financial year 2025 is ≈ €760,000. This figure is estimated from the gross margin of €244,679 and 86 comparable companies (NACE 432). It probably lies between €610,000 and €920,000.
- Is MD Métal profitable?
- In financial year 2025, MD Métal made a profit of €59,197.
- Where can I find the annual accounts of MD Métal?
- MD Métal filed 6 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of MD Métal due?
- MD Métal must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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