MD MULTI SERVICES
ActiveSummary
The computed 12-month bankruptcy probability of MD MULTI SERVICES is 2.2% (moderate). The 2024 annual accounts show equity of €71k and a net result of €4k. Equity is growing by ~19.4% per year across the filed fiscal years. Its solvency ranks better than 75% of 36375 sector peers (fiscal year 2024). The company has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability64▼-36
Solvency95▼-5
Growth41▼-21
Track record100
Bankruptcy probability, 12 months
2.2%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €4k at 30 days only on tighter terms
Liquidity ample (current ratio 3.27 against 5.04 in 2023; short-term debt: 30.5% and cash: 32.4% of total assets), and 30.5% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 2024Solvency, return and age of the figures
Solvency
69.5%
Return on assets
4%
Age of the figures
21 mo
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 20-02-2026, 204 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 7 filingsDeviation from the deadline
2025
not confirmed
2024
204 d late
2023
171 d late
2022
24 d early
2021
93 d late
2020
103 d late
2019
115 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
History
Financials · fiscal year 2024, micro schema
Turnover
€134k▼ 22.0%
2023 · €171k
EBIT margin
3.5%▼ 10.2pp
2023 · 13.7%
Net result
€4k▼ 82.2%
2023 · €23k
Working capital
€70k▲ 6.2%
2023 · €66k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Turnover€88k▼ 2.3%€100k▲ 14.6%€144k▲ 43.1%€171k▲ 19.4%€134k▼ 22.0%
Operating result€11k▲ 275%€15k▲ 35.5%€-1k€23k€5k▼ 79.9%
Net result€10k€13k▲ 37.1%€-5k€23k€4k▼ 82.2%
EBIT margin12.7%▲ 9.4pp15.1%▲ 2.3pp-0.9%▼ 16.0pp13.7%▲ 14.6pp3.5%▼ 10.2pp
Equity€35k▲ 37.8%€48k▲ 37.6%€43k▼ 10.3%€67k▲ 53.3%€71k▲ 6.2%
Total assets€46k▲ 38.2%€50k▲ 8.7%€56k▲ 12.1%€83k▲ 49.5%€102k▲ 22.6%
Debt€10k▲ 39.5%€1k▼ 89.7%€12k▲ 1,033%€16k▲ 36.0%€31k▲ 89.5%
Working capital€33k▲ 52.8%€48k▲ 42.7%€43k▼ 9.5%€66k▲ 53.1%€70k▲ 6.2%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 80% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €102k
Fixed assets
€532 =
Current assets
€101k ▲ 22.7%
Equity and liabilities €102k
Equity
€71k ▲ 6.2%
Debt
€31k ▲ 89.5%
Debt's share of the balance-sheet total rises from 19.7% to 30.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€8k
Cash flow
€7k
Current ratio
3.27▼
2023 · 5.04
Debt to equity
0.44▲
2023 · 0.25
ROE
5.8%▼
2023 · 34.8%
ROA
4.0%▼
2023 · 27.9%
Interest coverage
13.38
Debt ≤ 1 year
€31k▲
2023 · €16k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €88k | €100k | €144k | €171k | €134k | ▼ 22.0% |
| Goods, raw materials, services and sundry goods60/61 | - | €84k | €144k | €147k | €126k | ▼ 14.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2k | €1k | €489 | - | €3k | - |
| Other operating charges640/8 | - | €451 | €601 | €810 | €322 | ▼ 60.2% |
| Gross operating margin9900 | €13k | €17k | €-248 | €24k | €8k | ▼ 66.2% |
| Operating profit (loss)9901 | €11k | €15k | €-1k | €23k | €5k | ▼ 79.9% |
| Financial income75/76B | - | €151 | - | €30 | - | - |
| Recurring financial income75 | - | €151 | - | €30 | - | - |
| Financial charges65/66B | - | €505 | €409 | €306 | €588 | ▲ 92.2% |
| Recurring financial charges65 | €625 | €505 | €409 | €306 | €588 | ▲ 92.2% |
| Profit (loss) for the period before taxes9903 | €11k | €15k | €-2k | €23k | €4k | ▼ 82.2% |
| Income taxes67/77 | €868 | €2k | €3k | - | - | - |
| Profit (loss) for the period9904 | €10k | €13k | €-5k | €23k | €4k | ▼ 82.2% |
| Profit (loss) for the period to be appropriated9905 | €10k | €13k | €-5k | €23k | €4k | ▼ 82.2% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €46k | €50k | €56k | €83k | €102k | ▲ 22.6% |
| Fixed assets21/28 | €2k | €721 | €532 | €532 | €532 | = |
| Tangible fixed assets22/27 | €2k | €489 | - | - | - | - |
| Plant, machinery and equipment23 | - | €489 | - | - | - | - |
| Financial fixed assets28 | €232 | €232 | €532 | €532 | €532 | = |
| Current assets29/58 | €44k | €49k | €55k | €82k | €101k | ▲ 22.7% |
| Amounts receivable within one year40/41 | €34k | €32k | €53k | €54k | €68k | ▲ 26.5% |
| Trade receivables40 | - | €24k | €37k | €38k | €55k | ▲ 45.9% |
| Other amounts receivable41 | - | €8k | €16k | €16k | €13k | ▼ 18.0% |
| Cash at bank and in hand54/58 | €10k | €17k | €2k | €29k | €33k | ▲ 15.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €46k | €50k | €56k | €83k | €102k | ▲ 22.6% |
| Equity10/15 | €35k | €48k | €43k | €67k | €71k | ▲ 6.2% |
| Contributions10/11 | €12k | €12k | €12k | €12k | €12k | = |
| Capital10 | - | €12k | €12k | €12k | €12k | = |
| Issued capital100 | - | €19k | €19k | €19k | €19k | = |
| Uncalled capital101 | - | €6k | €6k | €6k | €6k | = |
| Reserves13 | €679 | €679 | €679 | €679 | €679 | = |
| Non-distributable reserves130/1 | - | €679 | €679 | €679 | €679 | = |
| Legal reserve130 | - | €679 | €679 | €679 | €679 | = |
| Profit (loss) carried forward14 | €22k | €35k | €30k | €54k | €58k | ▲ 7.7% |
| Amounts payable17/49 | €10k | €1k | €12k | €16k | €31k | ▲ 89.5% |
| Amounts payable within one year42/48 | €10k | €1k | €12k | €16k | €31k | ▲ 89.5% |
| Financial debts43 | - | - | - | - | €456 | - |
| Credit institutions430/8 | - | - | - | - | €456 | - |
| Trade debts44 | €9k | €150 | €11k | €15k | €26k | ▲ 71.6% |
| Suppliers440/4 | - | €150 | €11k | €15k | €26k | ▲ 71.6% |
| Taxes, remuneration and social security45 | - | €912 | €915 | €915 | €3k | ▲ 261% |
| Taxes450/3 | - | €912 | €915 | €915 | - | - |
| Remuneration and social security454/9 | - | - | - | - | €3k | - |
| Other amounts payable47/48 | - | - | - | - | €743 | - |
| Accrued charges and deferred income492/3 | - | - | €244 | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €10k | €13k | €-5k | €23k | €4k | ▼ 82.2% |
| + Depreciation and write-downs630 | €2k | €1k | €489 | - | €3k | - |
| Operating cash flow (approximation) | €12k | €14k | €-4k | €23k | €7k | ▼ 68.6% |
| Investment in fixed assets (approximation) | - | €0 | €-300 | €0 | €-3k | - |
| Change in cash | - | €7k | €-15k | €27k | €4k | ▼ 83.6% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
More with these figures Sector benchmark What changed Value indication
Timeline · acts, filings and financial milestones
2026
20-02
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 204 days late
2025
18-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 171 days late
2023
31-12
Financial
Back to profitnet €23k
Net result €23k after one loss-making year.
07-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet €-5k
Net result drops to €-5k, the lowest in the series; recovery starts the following year.
01-11
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 93 days late
2021
31-12
Financial
Liquidity times 11current ratio 45.95
Current ratio from 4.24 to 45.95; short-term debt falls from €10k to €1k.
11-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 103 days late
2020
31-12
Financial
Back to profitnet €10k
Net result €10k after one loss-making year.
23-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 115 days late
2019
30-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 61 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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
7 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, Elsene · 1 establishment unit since 2019
Ground area
581 m²
Building footprint
466 m²
Volume, LiDAR
10,134 m³
2 parcels, Brussels, Flanders · tallest building 29.8 m, ±8 floors. Linked by address, not a title deed.
276
companies at this address
See who is registered here
1 establishment unit
MD MULTI SERVICES
since 20192.294.828.077
2 parcels
Flanders
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21807G0120/00H005 | Brussels | 480 m² | 1 · 417 m² | 29.8 m · 8 fl. |
| 22005A0644/00P006 | Flanders | 102 m² | 1 · 48 m² | 10.0 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 7,044 companies in sector 43221 we hold annual accounts for 3,472. 3,048 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
Founded04-01-2018
Fiscal year end31-12
Activities, NACEBEL 2025
43221Plumbing work
Scores and ratios are computed by Checked and are not a credit decision.