MD PRINT
ActiveSummary
The computed 12-month bankruptcy probability of MD PRINT is 1.8% (moderate). The 2025 annual accounts show negative equity (-€157,259) and a net result of €1,335. Equity is shrinking by ~3.6% per year across the filed fiscal years. Its solvency ranks better than 5% of 972 sector peers (fiscal year 2025). The company has been active since 2002 and the Belgian State Gazette contains no insolvency signals. The CBE does carry 1 administrative register entry (see administrative flags).
Checked score
Score 2025
Axes · tick = 2024
Profitability78▲+3
Solvency0=
Growth58=
Track record92
Bankruptcy probability, 12 months
1.8%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.11 against 0.11 in 2024; short-term debt: 931% and cash: 13.1% of total assets), and equity is negative.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Nine signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
-848.8%
Return on assets
7.2%
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
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 18
Relative position
BE, all sectors
reference
Printing and reproduction of recorded media (NACE 18)
about 11% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 972 sector peers (2025).
NBB · sector comparisonPosition among 972 sector peers
Solvency
better than 5%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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
31 d late
2024
74 d late
2020
95 d late
2019
91 d late
2018
124 d late
2015
31 d late
2014
90 d late
← 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 77 days after the deadline; the sector median for financial year 2024 is 5 days before the deadline, and 38% of the sector filed late.
raises risk · Administrative warnings in the KBO publications
1 publication by the FPS Economy about this company, such as a strike-off for address, accounts or UBO, or its withdrawal.
KBO publicationsPublications
Late accounts filing
Checked, nothing found (1)
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. Usually files around 31 October (4 of the last 5 filed years within 32 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
-€157,259▲ 0.8%
2024 · -€158,595
Total assets
€18,527▼ 6.1%
2024 · €19,738
Net result
€1,335▲ 25.5%
2024 · €1,064
Working capital
-€153,956▲ 3.1%
2024 · -€158,847
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 18, Printing and reproduction of recorded media, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20182019202020242025
Operating result-€14,256-€1,716-€17,450€1,057-€1,763▲ 66.8%
Net result-€15,160-€1,000-€17,659below the sector's middle half€1,064within the sector's middle half-€1,335within the sector's middle half▲ 25.5%
Equity-€125,026--€124,027▲ 0.8%-€141,686below the sector's middle half▼ 14.2%-€158,595below the sector's middle half--€157,259below the sector's middle half▲ 0.8%
Total assets€76,455-€63,087▼ 17.5%€56,152below the sector's middle half▼ 11.0%€19,738below the sector's middle half-€18,527below the sector's middle half▼ 6.1%
Debt€201,482-€187,114▼ 7.1%€197,838▲ 5.7%€178,333-€175,786▼ 1.4%
Working capital-€135,411--€125,378▲ 7.4%-€157,368below the sector's middle half▼ 25.5%-€158,847below the sector's middle half--€153,956below the sector's middle half▲ 3.1%
Solvency-163.5%--196.6%▼ 33.1pp-252.3%below the sector's middle half▼ 55.7pp-803.5%below the sector's middle half--848.8%below the sector's middle half▼ 45.3pp
Current ratio0.29-0.29▲ 0.010.15below the sector's middle half▼ 0.140.11below the sector's middle half-0.11below the sector's middle half=
Return on assets (ROA)-19.8%-1.6%▲ 21.4pp-31.4%below the sector's middle half▼ 33.0pp5.4%within the sector's middle half-7.2%within the sector's middle half▲ 1.8pp
above
within
below
the middle half (P25 to P75) of NACE 18, Printing and reproduction of recorded media, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result rises in 2025; 2025 is 67% above 2024 and is the highest result in the available series.
Key figures and ratios
EBITDA
€2,442▼
2024 · €7,409
Cash flow
€2,014▼
2024 · €7,416
Debt to equity
-1.12▲
2024 · -1.12
Interest coverage
23.47▼
2024 · 110.86
Debt ≤ 1 year
€172,483▼
2024 · €177,907
Income taxes
€324▲
2024 · -€74
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,795 companies that looked in July 2024 the way this one looks now, 2.7% went bankrupt within 24 months and 92% are still going.
- Micro
- 20 years or older
- negative equity
- a profit of 5% of the balance sheet or more
2.7%
went bankrupt
5.3%
stopped otherwise
92%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.8% 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 497,340 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% | 1.8% |
| 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 3,795 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 | 2018 | 2019 | 2020 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13,406 | €13,033 | €10,508 | €6,352 | €679 | ▼ 89.3% |
| Other operating charges640/8 | - | - | - | €918 | €943 | ▲ 2.7% |
| Gross operating margin9900 | €4,543 | €20,220 | €3,788 | €8,327 | €3,384 | ▼ 59.4% |
| Operating profit (loss)9901 | -€14,256 | €1,716 | -€17,450 | €1,057 | €1,763 | ▲ 66.8% |
| Recurring financial income75 | - | €395 | €6 | - | - | - |
| Financial charges65/66B | - | - | - | €67 | €104 | ▲ 55.7% |
| Recurring financial charges65 | €732 | €1,029 | €74 | €67 | €104 | ▲ 55.7% |
| Profit (loss) for the period before taxes9903 | -€14,988 | €1,082 | -€17,518 | €990 | €1,659 | ▲ 67.5% |
| Income taxes67/77 | €172 | €82 | €141 | -€74 | €324 | ▲ 540% |
| Profit (loss) for the period9904 | -€15,160 | €1,000 | -€17,659 | €1,064 | €1,335 | ▲ 25.5% |
| Profit (loss) for the period to be appropriated9905 | -€15,160 | €1,000 | -€17,659 | €1,064 | €1,335 | ▲ 25.5% |
| Line | 2018 | 2019 | 2020 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €76,455 | €63,087 | €56,152 | €19,738 | €18,527 | ▼ 6.1% |
| Fixed assets21/28 | €21,649 | €11,096 | €27,913 | €679 | - | - |
| Tangible fixed assets22/27 | €20,649 | €10,096 | €26,913 | €679 | - | - |
| Furniture and vehicles24 | - | - | - | €679 | - | - |
| Financial fixed assets28 | €1,000 | €1,000 | €1,000 | - | - | - |
| Current assets29/58 | €54,806 | €51,991 | €28,240 | €19,060 | €18,527 | ▼ 2.8% |
| Stocks and contracts in progress3 | €5,000 | €5,000 | - | - | - | - |
| Amounts receivable within one year40/41 | €19,418 | €18,998 | €16,477 | €16,795 | €14,307 | ▼ 14.8% |
| Trade receivables40 | - | - | - | €14,637 | €11,985 | ▼ 18.1% |
| Other amounts receivable41 | - | - | - | €2,159 | €2,321 | ▲ 7.5% |
| Cash at bank and in hand54/58 | €29,085 | €27,971 | €10,838 | €2,219 | €2,420 | ▲ 9.0% |
| Deferred charges and accrued income490/1 | - | - | - | €45 | €1,800 | ▲ 3,875% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €76,455 | €63,087 | €56,152 | €19,738 | €18,527 | ▼ 6.1% |
| Equity10/15 | -€125,026 | -€124,027 | -€141,686 | -€158,595 | -€157,259 | ▲ 0.8% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | - | - | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | -€145,486 | -€144,487 | -€162,146 | -€179,055 | -€177,719 | ▲ 0.7% |
| Amounts payable17/49 | €201,482 | €187,114 | €197,838 | €178,333 | €175,786 | ▼ 1.4% |
| Amounts payable after more than one year17 | €4,315 | - | - | - | - | - |
| Amounts payable within one year42/48 | €190,217 | €177,369 | €185,607 | €177,907 | €172,483 | ▼ 3.0% |
| Trade debts44 | €20,482 | €9,517 | €11,381 | €27,092 | €24,017 | ▼ 11.3% |
| Suppliers440/4 | - | - | - | €27,092 | €24,017 | ▼ 11.3% |
| Taxes, remuneration and social security45 | - | - | - | €3,369 | €3,338 | ▼ 0.9% |
| Taxes450/3 | - | - | - | €1,531 | €1,500 | ▼ 2.0% |
| Remuneration and social security454/9 | - | - | - | €1,838 | €1,838 | = |
| Other amounts payable47/48 | - | - | - | €147,446 | €145,127 | ▼ 1.6% |
| Accrued charges and deferred income492/3 | - | - | - | €427 | €3,303 | ▲ 674% |
| Line | 2018 | 2019 | 2020 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€15,160 | €1,000 | -€17,659 | €1,064 | €1,335 | ▲ 25.5% |
| + Depreciation and write-downs630 | €13,406 | €13,033 | €10,508 | €6,352 | €679 | ▼ 89.3% |
| Operating cash flow (approximation) | -€1,753 | €14,033 | -€7,151 | €7,416 | €2,014 | ▼ 72.8% |
| Investment in fixed assets (approximation) | - | -€2,479 | -€27,324 | - | - | - |
| Change in cash | - | -€1,114 | -€17,133 | - | €201 | - |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
31-12
Financial
Highest result since 2018net €1,335 ▲25.5%
Operating result €1,763, net result €1,335, both a record.
13-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 74 days late
08-09
KBO administration
Late accounts filing
2024
31-12
Financial
Back to profitnet €1,064
Net result €1,064 after one loss-making year.
2021
03-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 95 days late
2020
31-12
Financial
Weakest financial yearnet -€17,659
Net result drops to -€17,659, the lowest in the series; recovery starts the following year.
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 91 days late
2019
31-12
Financial
Back to profitnet €1,000
Net result €1,000 after one loss-making year.
02-12
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 124 days late
2016
31-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 31 days late
2015
29-10
NBB filing
Annual accounts filed
fiscal year 2014 · full schema · 90 days late
Show earlier events
2014
09-10
NBB filing
Annual accounts filed
fiscal year 2013 · full schema · 70 days late
03-02
NBB filing
Annual accounts filed
fiscal year 2012 · full schema · 187 days late
2012
22-11
NBB filing
Annual accounts filed
fiscal year 2011 · full schema · 114 days late
SignalFinancial 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, Incourt · 1 establishment unit since 2002
Ground area
880 m²
Building footprint
97 m²
Parcel 25080B0216/00M000, Wallonia. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
M.D. PRINT
since 20022.114.107.674
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25080B0216/00M000 | Wallonia | 880 m² | 1 · 97 m² | - |
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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Lasne
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 1,596 companies in sector 18120 we hold annual accounts for 810. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded13-08-2002
Fiscal year end31-12
Activities, NACEBEL 2025
18120Other printing
47621Retail sale of newspapers and periodicals
E-invoicing
Reachable via Peppol
Peppol ID
0208:0478170111
Registered
15-01-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.