MDA STONE
ActiveSummary
MDA STONE has been active since 1984 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €748,911 and a net result of -€75,561. Equity is growing by ~4.7% per year across the filed fiscal years. Its solvency ranks better than 45% of 287 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability24▼-27
Solvency68▼-7
Growth52=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €40,000 at 30 days acceptable
Liquidity short (current ratio 0.39 against 0.56 in 2024; short-term debt: 30.6% and cash: 0.9% of total assets), and 57.5% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 23
Relative position
BE, all sectors
reference
Manufacture of other non-metallic mineral products (NACE 23)
about 17% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 18-08-2026, 18 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
18 d late
2024
21 d late
2023
13 d late
2022
62 d early
2021
19 d late
2020
6 d late
2019
84 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 14 days after the deadline; the sector median for financial year 2024 is 11 days before the deadline, and 34% of the sector filed late.
Checked, nothing found (2)
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 18 August (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
In the rankings
#2 oldest company in Arlon, Manufacturing sector#4 company by equity in Arlon, Manufacturing sector#5 company by total assets in Arlon, Manufacturing sector
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€75,561
2024 · €851
Working capital
-€329,688▼ 86.2%
2024 · -€177,015
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 23, Manufacture of other non-metallic mineral products, 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
Line20212022202320242025
Operating result€52,353▼ 36.1%€76,951▲ 47.0%€92,966▲ 20.8%€30,772▼ 66.9%-€46,619
Net result€31,570within the sector's middle half▼ 38.9%€44,047within the sector's middle half▲ 39.5%€48,912within the sector's middle half▲ 11.0%€851below the sector's middle half▼ 98.3%-€75,561below the sector's middle half
Equity€748,450within the sector's middle half▲ 3.8%€788,050within the sector's middle half▲ 5.3%€832,515within the sector's middle half▲ 5.6%€828,920within the sector's middle half▼ 0.4%€748,911within the sector's middle half▼ 9.7%
Total assets€1.7mwithin the sector's middle half=€1.7mwithin the sector's middle half▼ 0.9%€1.6mwithin the sector's middle half▼ 3.6%€1.6mbelow the sector's middle half▲ 2.1%€1.8mwithin the sector's middle half▲ 7.0%
Debt€937,131▼ 2.8%€883,145▼ 5.8%€779,136▼ 11.8%€816,942▲ 4.9%€1.0m▲ 24.0%
Working capital-€255,311below the sector's middle half▼ 0.7%-€224,980below the sector's middle half▲ 11.9%-€190,018below the sector's middle half▲ 15.5%-€177,015below the sector's middle half▲ 6.8%-€329,688below the sector's middle half▼ 86.2%
Solvency44.4%within the sector's middle half▲ 1.6pp47.2%within the sector's middle half▲ 2.8pp51.7%within the sector's middle half▲ 4.5pp50.4%within the sector's middle half▼ 1.3pp42.5%within the sector's middle half▼ 7.9pp
Current ratio0.43below the sector's middle half▲ 0.020.51below the sector's middle half▲ 0.080.56below the sector's middle half▲ 0.050.56below the sector's middle half=0.39below the sector's middle half▼ 0.17
Return on assets (ROA)1.9%within the sector's middle half▼ 1.2pp2.6%within the sector's middle half▲ 0.8pp3.0%within the sector's middle half▲ 0.4pp0.1%below the sector's middle half▼ 3.0pp-4.3%below the sector's middle half▼ 4.3pp
Staff (FTE)5.6below the sector's middle half▲ 33.3%5below the sector's middle half▼ 10.7%4.3below the sector's middle half▼ 14.0%3.7below the sector's middle half▼ 14.0%2below the sector's middle half▼ 45.9%
above
within
below
the middle half (P25 to P75) of NACE 23, Manufacture of other non-metallic mineral products, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €46,619 after €30,772 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.8m
Fixed assets
€1.6m ▲ 9.3%
Current assets
€209,297 ▼ 7.1%
Equity and liabilities €1.8m
Equity
€748,911 ▼ 9.7%
Debt
€1.0m ▲ 24.0%
Debt's share of the balance-sheet total rises from 49.6% to 57.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€44,614▼
2024 · €133,480
Cash flow
€15,672▼
2024 · €103,559
Quick ratio
0.17▼
2024 · 0.24
Debt to equity
1.35▲
2024 · 0.99
ROE
-10.1%▼
2024 · 0.1%
Interest coverage
1.21▼
2024 · 3.81
Debt ≤ 1 year
€538,984▲
2024 · €402,209
Debt > 1 year
€468,479▲
2024 · €405,917
Staff costs
€136,787▲
2024 · €134,479
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 12,321 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 90% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
0.7%
went bankrupt
8.6%
stopped otherwise
90%
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 0.3% 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 497,338 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% | 1.9% |
| 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 12,321 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 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €22,807 | €80 | €1,141 | - | - | - |
| Remuneration, social security and pensions62 | €204,832 | €210,828 | €175,952 | €134,479 | €136,787 | ▲ 1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €80,889 | €94,253 | €102,323 | €102,707 | €91,233 | ▼ 11.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | -€25,975 | €6,776 | - | -€4,567 | -€555 | ▲ 87.9% |
| Other operating charges640/8 | €33,562 | €6,748 | €11,320 | €14,857 | €8,494 | ▼ 42.8% |
| Non-recurring operating charges66A | - | €364 | - | - | - | - |
| Gross operating margin9900 | €345,662 | €395,921 | €382,561 | €278,249 | €189,341 | ▼ 32.0% |
| Operating profit (loss)9901 | €52,353 | €76,951 | €92,966 | €30,772 | -€46,619 | ▼ 251% |
| Financial income75/76B | €7,364 | €6,153 | €4,914 | €5,153 | €7,808 | ▲ 51.5% |
| Recurring financial income75 | €7,364 | €6,153 | €4,914 | €5,153 | €7,808 | ▲ 51.5% |
| Financial charges65/66B | €28,148 | €29,501 | €32,434 | €35,075 | €36,750 | ▲ 4.8% |
| Recurring financial charges65 | €28,148 | €29,501 | €32,434 | €35,075 | €36,750 | ▲ 4.8% |
| Profit (loss) for the period before taxes9903 | €31,570 | €53,603 | €65,446 | €851 | -€75,561 | ▼ 8,978% |
| Income taxes67/77 | - | €9,556 | €16,534 | - | - | - |
| Profit (loss) for the period9904 | €31,570 | €44,047 | €48,912 | €851 | -€75,561 | ▼ 8,978% |
| Profit (loss) for the period to be appropriated9905 | €31,570 | €44,047 | €48,912 | €851 | -€75,561 | ▼ 8,978% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.7m | €1.7m | €1.6m | €1.6m | €1.8m | ▲ 7.0% |
| Fixed assets21/28 | €1.5m | €1.4m | €1.4m | €1.4m | €1.6m | ▲ 9.3% |
| Intangible fixed assets21 | €26,762 | €20,762 | €14,762 | €8,762 | €2,762 | ▼ 68.5% |
| Tangible fixed assets22/27 | €1.5m | €1.4m | €1.3m | €1.4m | €1.5m | ▲ 9.8% |
| Land and buildings22 | €1.3m | €1.3m | €1.3m | €1.4m | €1.3m | ▼ 1.7% |
| Plant, machinery and equipment23 | €86,962 | €65,720 | €58,496 | €35,977 | €26,546 | ▼ 26.2% |
| Furniture and vehicles24 | €13,007 | €15,562 | €16,293 | €13,163 | €13,710 | ▲ 4.2% |
| Leasing and similar rights25 | €40,189 | €33,065 | €16,954 | €3,151 | €172,988 | ▲ 5,390% |
| Financial fixed assets28 | €9,000 | €9,000 | €9,000 | €9,000 | €9,000 | = |
| Current assets29/58 | €193,284 | €233,990 | €241,528 | €225,193 | €209,297 | ▼ 7.1% |
| Stocks and contracts in progress3 | €80,073 | €89,508 | €98,490 | €129,728 | €119,843 | ▼ 7.6% |
| Stocks30/36 | €71,358 | €72,433 | €77,385 | €129,728 | €119,843 | ▼ 7.6% |
| Contracts in progress37 | €8,715 | €17,075 | €21,105 | - | - | - |
| Amounts receivable within one year40/41 | €34,688 | €116,855 | €63,969 | €54,568 | €63,484 | ▲ 16.3% |
| Trade receivables40 | €27,887 | €97,836 | €38,929 | €47,347 | €55,310 | ▲ 16.8% |
| Other amounts receivable41 | €6,801 | €19,019 | €25,040 | €7,222 | €8,174 | ▲ 13.2% |
| Cash at bank and in hand54/58 | €71,463 | €19,689 | €72,740 | €31,280 | €15,387 | ▼ 50.8% |
| Deferred charges and accrued income490/1 | €7,060 | €7,938 | €6,330 | €9,617 | €10,582 | ▲ 10.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.7m | €1.7m | €1.6m | €1.6m | €1.8m | ▲ 7.0% |
| Equity10/15 | €748,450 | €788,050 | €832,515 | €828,920 | €748,911 | ▼ 9.7% |
| Contributions10/11 | €130,144 | €130,144 | €130,144 | €130,144 | €130,144 | = |
| Capital10 | €130,144 | €130,144 | €130,144 | €130,144 | €130,144 | = |
| Issued capital100 | €130,144 | €130,144 | €130,144 | €130,144 | €130,144 | = |
| Revaluation surpluses12 | €580,000 | €580,000 | €580,000 | €580,000 | €580,000 | = |
| Reserves13 | - | €21,000 | €70,000 | €70,000 | €70,000 | = |
| Non-distributable reserves130/1 | - | - | €13,000 | €13,000 | €13,000 | = |
| Legal reserve130 | - | - | €13,000 | €13,000 | €13,000 | = |
| Distributable reserves133 | - | €21,000 | €57,000 | €57,000 | €57,000 | = |
| Profit (loss) carried forward14 | -€22,481 | €566 | €478 | €1,329 | -€74,232 | ▼ 5,685% |
| Investment grants15 | €60,787 | €56,340 | €51,893 | €47,446 | €42,999 | ▼ 9.4% |
| Amounts payable17/49 | €937,131 | €883,145 | €779,136 | €816,942 | €1.0m | ▲ 24.0% |
| Amounts payable after more than one year17 | €485,054 | €420,095 | €339,168 | €405,917 | €468,479 | ▲ 15.4% |
| Financial debts170/4 | €485,054 | €420,095 | €339,168 | €405,917 | €468,479 | ▲ 15.4% |
| Amounts payable within one year42/48 | €448,595 | €458,971 | €431,546 | €402,209 | €538,984 | ▲ 34.0% |
| Current portion of amounts payable after more than one year42 | €93,384 | €93,659 | €89,756 | €90,162 | €104,596 | ▲ 16.0% |
| Financial debts43 | €225,000 | €225,000 | €225,000 | €225,000 | €225,000 | = |
| Credit institutions430/8 | €225,000 | €225,000 | €225,000 | €225,000 | €225,000 | = |
| Trade debts44 | €92,027 | €99,538 | €66,479 | €44,198 | €72,166 | ▲ 63.3% |
| Suppliers440/4 | €92,027 | €99,538 | €66,479 | €44,198 | €72,166 | ▲ 63.3% |
| Taxes, remuneration and social security45 | €26,583 | €22,232 | €36,923 | €29,195 | €44,405 | ▲ 52.1% |
| Taxes450/3 | €10,428 | €14,750 | €35,232 | €26,036 | €24,985 | ▼ 4.0% |
| Remuneration and social security454/9 | €16,155 | €7,482 | €1,691 | €3,160 | €19,420 | ▲ 515% |
| Other amounts payable47/48 | €11,601 | €18,542 | €13,389 | €13,654 | €92,818 | ▲ 580% |
| Accrued charges and deferred income492/3 | €3,483 | €4,079 | €8,421 | €8,816 | €5,369 | ▼ 39.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €31,570 | €44,047 | €48,912 | €851 | -€75,561 | ▼ 8,978% |
| + Depreciation and write-downs630 | €80,889 | €94,253 | €102,323 | €102,707 | €91,233 | ▼ 11.2% |
| Operating cash flow (approximation) | €112,459 | €138,301 | €151,235 | €103,559 | €15,672 | ▼ 84.9% |
| Investment in fixed assets (approximation) | - | -€39,161 | -€35,241 | -€153,254 | -€223,011 | ▼ 45.5% |
| Change in cash | - | -€51,773 | €53,051 | -€41,459 | -€15,893 | ▲ 61.7% |
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
18-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 18 days late
2025
31-12
Financial
Weakest financial yearnet -€75,561
Net result drops to -€75,561, the lowest in the series.
21-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 21 days late
2024
13-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 13 days late
2023
30-05
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
19-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 19 days late
2021
06-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 6 days late
2020
23-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 84 days late
2019
31-12
Financial
Highest result since 2018net €88,019 ▲245%
Operating result €111,420, net result €88,019, both a record.
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 30 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 30 days late
2017
07-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
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.
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Directors · office · real estate
Directors
5 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, Arlon · 2 establishment units since 2014
Ground area
2,759 m²
Building footprint
832 m²
Parcel 81001A1087/00C000, Wallonia. Linked by address, not a title deed.
4
companies at this address
See who is registered here
2 establishment units
MDA STONE
since 20142.235.474.866
Rue de Diekirch 255, 6700 Arlon
since 20152.244.671.852
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 81001A1087/00C000 | Wallonia | 2,759 m² | 1 · 832 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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Of 737 companies in sector 23700 we hold annual accounts for 489. 368 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded02-07-1984
Fiscal year end31-12
Activities, NACEBEL 2025
23700Cutting, shaping and finishing of stone
46831Wholesale of construction materials, general range
47521Retail sale of hardware, building materials, paint and glass (general range)
E-invoicing
Reachable via Peppol
Peppol ID
0208:0426644996
Also
9925:BE0426644996
Registered
24-09-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.