MD SRL
ActiveSummary
The computed 12-month bankruptcy probability of MD SRL is 1.8% (moderate). The 2024 annual accounts show negative equity (-€31,654) and a net result of -€22,923. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 9% of 9524 sector peers (fiscal year 2024). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability0▼-10
Solvency0=
Growth22▼-16
Track record94
Bankruptcy probability, 12 months
1.8%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.66 against 0.34 in 2023; short-term debt: 150.7% and cash: 3.5% of total assets), and equity is negative.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
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
-50.7%
Return on assets
-36.7%
Age of the figures
21 mo
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 82
Relative position
BE, all sectors
reference
Office administrative, office support and other business support activities (NACE 82)
about 37% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Negative equity
The 2024 annual accounts show negative equity and a net loss.
NBB · annual accounts 2024Equity per financial year
21222324
2021 to 2024 · latest year -€31,654
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 27-11-2025, 119 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 · 4 filingsDeviation from the deadline
2025
not confirmed
2024
119 d late
2023
83 d late
2022
67 d late
2021
31 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 4 accounts on average 75 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 35% of the sector filed late.
Checked, nothing found (1)
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2024, micro schema
Turnover
€53,776▲ 256%
2022 · €15,098
EBIT margin
-1.1%▲ 34.4pp
2022 · -35.5%
Net result
-€22,923▼ 1,500%
2023 · -€1,433
Working capital
-€32,291▼ 114%
2023 · -€15,109
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 82, Office administrative, office support and other business support 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
Line2021202220232024
Turnover€111,430-€15,098▼ 86.5%€53,776▲ 256%
Operating result-€3,095--€5,357▼ 73.1%-€594▲ 88.9%-€22,547▼ 3,693%
Net result-€3,095below the sector's middle half--€5,404below the sector's middle half▼ 74.6%-€1,433below the sector's middle half▲ 73.5%-€22,923below the sector's middle half▼ 1,500%
EBIT margin-2.8%--35.5%▼ 32.7pp-1.1%▲ 34.4pp
Equity-€1,895below the sector's middle half--€7,299below the sector's middle half▼ 285%-€8,732below the sector's middle half▼ 19.6%-€31,654below the sector's middle half▼ 263%
Total assets€7,003below the sector's middle half-€6,674below the sector's middle half▼ 4.7%€13,996below the sector's middle half▲ 110%€62,376within the sector's middle half▲ 346%
Debt€8,898-€13,974▲ 57.0%€22,728▲ 62.7%€94,030▲ 314%
Working capital-€7,518within the sector's middle half--€12,879below the sector's middle half▼ 71.3%-€15,109below the sector's middle half▼ 17.3%-€32,291below the sector's middle half▼ 114%
Solvency-27.1%below the sector's middle half--109.4%below the sector's middle half▼ 82.3pp-62.4%below the sector's middle half▲ 47.0pp-50.7%below the sector's middle half▲ 11.6pp
Current ratio0.16below the sector's middle half-0.08below the sector's middle half▼ 0.080.34below the sector's middle half▲ 0.260.66below the sector's middle half▲ 0.32
Return on assets (ROA)-44.2%below the sector's middle half--81.0%below the sector's middle half▼ 36.8pp-10.2%below the sector's middle half▲ 70.7pp-36.7%below the sector's middle half▼ 26.5pp
Staff (FTE)1.3-
above
within
below
the middle half (P25 to P75) of NACE 82, Office administrative, office support and other business support activities, 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 stays negative: a loss of €22,547 in 2024 against €594 in 2023; the loss grows and 2024 has the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €62,376
Fixed assets
€637 ▼ 90.0%
Current assets
€61,738 ▲ 710%
Key figures and ratios
EBITDA
-€22,176▼
2023 · -€286
Cash flow
-€22,552▼
2023 · -€1,124
Debt to equity
-2.97▼
2023 · -2.60
Interest coverage
-58.97▼
2023 · -0.34
Debt ≤ 1 year
€94,030▲
2023 · €22,728
Staff costs
€816
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,010 companies that looked in July 2024 the way this one looks now, 7.9% went bankrupt within 24 months and 83% are still going.
- Micro
- 5 to 10 years old
- negative equity
- a loss of 10% of the balance sheet or more
7.9%
went bankrupt
8.4%
stopped otherwise
83%
still going
A further 0.8% 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 6,010 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 | Change |
|---|---|---|---|---|---|
| Turnover70 | €111,430 | €15,098 | €53,776 | - | - |
| Non-recurring operating income76A | €2,500 | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | €97,073 | €19,397 | €54,061 | - | - |
| Remuneration, social security and pensions62 | €18,247 | - | - | €816 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,480 | - | €309 | €370 | ▲ 20.0% |
| Other operating charges640/8 | €226 | €436 | - | €287 | - |
| Non-recurring operating charges66A | - | €622 | - | - | - |
| Gross operating margin9900 | €16,857 | -€4,299 | -€286 | -€21,073 | ▼ 7,275% |
| Operating profit (loss)9901 | -€3,095 | -€5,357 | -€594 | -€22,547 | ▼ 3,693% |
| Financial income75/76B | - | - | €0 | - | - |
| Recurring financial income75 | - | - | €0 | - | - |
| Financial charges65/66B | - | €47 | €839 | €376 | ▼ 55.2% |
| Recurring financial charges65 | - | €47 | €839 | €376 | ▼ 55.2% |
| Profit (loss) for the period before taxes9903 | -€3,095 | -€5,404 | -€1,433 | -€22,923 | ▼ 1,500% |
| Profit (loss) for the period9904 | -€3,095 | -€5,404 | -€1,433 | -€22,923 | ▼ 1,500% |
| Profit (loss) for the period to be appropriated9905 | -€3,095 | -€5,404 | -€1,433 | -€22,923 | ▼ 1,500% |
| Line | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €7,003 | €6,674 | €13,996 | €62,376 | ▲ 346% |
| Fixed assets21/28 | €5,622 | €5,580 | €6,377 | €637 | ▼ 90.0% |
| Tangible fixed assets22/27 | €5,622 | - | €802 | €432 | ▼ 46.2% |
| Land and buildings22 | €1,704 | - | - | - | - |
| Plant, machinery and equipment23 | €3,919 | - | - | - | - |
| Furniture and vehicles24 | - | - | €802 | €432 | ▼ 46.2% |
| Financial fixed assets28 | - | €5,580 | €5,575 | €205 | ▼ 96.3% |
| Current assets29/58 | €1,381 | €1,094 | €7,619 | €61,738 | ▲ 710% |
| Amounts receivable within one year40/41 | €1,046 | €547 | €5,941 | €59,345 | ▲ 899% |
| Trade receivables40 | €610 | €547 | €981 | €13,106 | ▲ 1,237% |
| Other amounts receivable41 | €435 | - | €4,960 | €46,240 | ▲ 832% |
| Cash at bank and in hand54/58 | €335 | €547 | €1,678 | €2,173 | ▲ 29.5% |
| Deferred charges and accrued income490/1 | - | - | - | €220 | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €7,003 | €6,674 | €13,996 | €62,376 | ▲ 346% |
| Equity10/15 | -€1,895 | -€7,299 | -€8,732 | -€31,654 | ▼ 263% |
| Contributions10/11 | €1,200 | €1,200 | €1,200 | €1,200 | = |
| Profit (loss) carried forward14 | -€3,095 | -€8,499 | -€9,932 | -€32,854 | ▼ 231% |
| Amounts payable17/49 | €8,898 | €13,974 | €22,728 | €94,030 | ▲ 314% |
| Amounts payable within one year42/48 | €8,898 | €13,974 | €22,728 | €94,030 | ▲ 314% |
| Trade debts44 | €189 | €7,636 | €16,929 | €94,030 | ▲ 455% |
| Suppliers440/4 | €189 | €7,636 | €16,929 | €94,030 | ▲ 455% |
| Taxes, remuneration and social security45 | €6,710 | €2,658 | €1,828 | - | - |
| Taxes450/3 | - | €2,658 | €1,828 | - | - |
| Remuneration and social security454/9 | €6,710 | - | - | - | - |
| Other amounts payable47/48 | €2,000 | €3,680 | €3,971 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€3,095 | -€5,404 | -€1,433 | -€22,923 | ▼ 1,500% |
| + Depreciation and write-downs630 | €1,480 | - | €309 | €370 | ▲ 20.0% |
| Operating cash flow (approximation) | -€1,616 | -€5,404 | -€1,124 | -€22,552 | ▼ 1,907% |
| Investment in fixed assets (approximation) | - | €42 | -€1,106 | €5,370 | ▲ 585% |
| Change in cash | - | €212 | €1,131 | €495 | ▼ 56.3% |
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
2025
27-11
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 119 days late
2024
31-12
Financial
Weakest financial yearnet -€22,923
Net result drops to -€22,923, the lowest in the series.
22-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 83 days late
2023
06-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 67 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 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.
Have them read with priority
Sign in to place this company at the front of the reading queue.
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, Braine-l'Alleud · 1 establishment unit since 2022
Ground area
1,811 m²
Building footprint
898 m²
Volume, LiDAR
4,276 m³
2 parcels, Wallonia · tallest building 6.3 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Kuvings
since 20222.338.157.977
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25762F0043/00T003 | Wallonia | 1,433 m² | 1 · 832 m² | 6.3 m · 2 fl. |
| 25054A0102/00B000 | Wallonia | 378 m² | 1 · 65 m² | 5.9 m · 2 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.
Similar companies · same sector and region
BENCH MARKS CREATION
BE 0867.783.477
Braine-l'Alleud
Monastic Association for Encounter and Dialogue
BE 0791.871.772
Braine-l'Alleud
Antiekbeurs van België
BE 0407.763.848
Brussel
Association belge de Médecine nucléaire - belgische Vereniging voor Nucleaire Geneeskunde
BE 0418.553.416
Sint-Lambrechts-Woluwe
ASSOCIATION BELGE DES CADRES D'ACHAT ET DE LOGISTIQUE
BE 0407.065.844
Ottignies-Louvain-la-Neuve
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 4,577 companies in sector 82300 we hold annual accounts for 1,673. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded24-02-2021
Fiscal year end31-12
Activities, NACEBEL 2025
82300Organisation of conventions and trade shows
47120Other non-specialised retail sale
93299Other amusement and recreation activities
Contact
Website
www.kuvings.beWaterloo
E-invoicing
Reachable via Peppol
Peppol ID
0208:0763993180
Registered
26-11-2025
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.