MDAX
ActiveSummary
MDAX has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals. The 2026 annual accounts show equity of €153,316 and a net result of €73,218. Its solvency ranks better than 76% of 578 sector peers (NACE 62, financial year 2026). The computed 12-month bankruptcy probability is below 0.1% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 20-03-2024 Normal situation
- Activity
- Computer consultancy and computer facilities management NACE 62200and 5 others
- Establishment unit
- 2.357.264.009 2370 Arendonk, since 20-03-2024
- Financial year end
- 31 March
- Peppol
- Reachable since 29-05-2025
Financial position
- Bankruptcy probabilitywithin 12 months
- < 0.1%
Annual accounts to 31-03-2026
- Gross margin
- €93,225
- ▼ 4.6%
- Turnover
- ≈ €180,000
- estimated
- Profit
- €73,218
- ▼ 5.0%
- Equity
- €153,316
- ▲ 91.4%
- Total assets
- €184,115
- ▲ 60.1%
Score breakdownlowers riskLiquidity: current ratio 5.98, cash €161,909Sector: Computer programming, consultancy and related activities (NACE 62)Equity €153,316 (83.3% of total assets)Size: total assets €184,115Show the evidence
Checked score
Score 2026
98
/ 100
Excellent
Probability in this band: under 0.55%
Financially stronger than 85% of micro companies in computer programming and consultancy (NACE 62)
Financial strength · tick: 2025
Strong
Solvency
100+5
equity 83.3% of total assets
Liquidity
96+9
short-term debt 16.7% · cash 87.9%
Profitability
100=
return on assets 39.8%
Bankruptcy probability within 12 months
< 0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
04-2025: 0.4%
05-2025: 0.4%● unchanged vs 04-2025
06-2025: 0.4%● unchanged vs 05-2025
07-2025: 0.4%● unchanged vs 06-2025
08-2025: 0.4%● unchanged vs 07-2025
09-2025: 0.4%● unchanged vs 08-2025
10-2025: 0.5%▲ +0.1 percentage points vs 09-2025highest value
11-2025: < 0.1%▼ -0.5 percentage points vs 10-2025
12-2025: < 0.1%● unchanged vs 11-2025
01-2026: < 0.1%● unchanged vs 12-2025
02-2026: < 0.1%● unchanged vs 01-2026
03-2026: < 0.1%● unchanged vs 02-2026
04-2026: < 0.1%● unchanged vs 03-2026
05-2026: < 0.1%● unchanged vs 04-2026
06-2026: < 0.1%● unchanged vs 05-2026
07-2026: < 0.1%● unchanged vs 06-2026
08-2026: < 0.1%● unchanged vs 07-2026
09-2026: < 0.1%● unchanged vs 08-2026
10-2026: < 0.1%● unchanged vs 09-2026lowest value
11-2026: < 0.1%● unchanged vs 10-2026lowest value
Credit of up to €15,000 on 30-day terms, only on tighter conditions: young company (under 3 years) without a track record
Liquidity is ample, with a current ratio of 5.98 (3.3 in 2025), above the usual 1.5. Short-term debt is 16.7% and cash 87.9% of total assets. 16.7% of the assets are financed with debt and provisions.
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 62, micro). It does better than 85% of them on solvency, 86% on liquidity, 82% on profitability and 88% on growth.
The bankruptcy probability was computed on 03-11-2026 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.
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).
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Young company
Founded in 2024, 2 years ago. Young companies fail more often than established ones; the risk is highest 2 to 8 years after founding.
KBO · incorporation dateAge against the risk zone
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2026 was due by 31-10-2026 and was filed on 19-10-2026, 12 days ahead of the deadline.
NBB · 2 filingsDeviation from the deadline
2026
12 days early
2025
18 days early
← before the deadline
after the deadline →
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-03-2027 and is due by 31-10-2027. Nothing is late today.
Companies Code · seven monthsWhere today falls in the filing period
03-11-2026 today31-03-2027 year end31-10-2027 deadline
Financials
Financials · financial year 2026, micro format
Annual accounts 2026 filed on 19-10-2026 at the NBB all 2 filings
Turnover
≈ €180,000
Estimated: probably between €160,000 and €240,000
Total assets
€184,115▲ 60.1%
2025 · €114,969
Net result
€73,218▼ 5.0%
2025 · €77,098
Working capital
€153,316▲ 91.4%
2025 · €80,098
In the rankings
#9 company by equity in Arendonk, Telecoms and IT sector
Multi-year overview
2025 to 2026, 2 financial yearsOperating result
€92,869
▼ 4.9%
2026
20252026
Net result
€73,218
▼ 5.0%
2026
20252026
Equity
€153,316
▲ 91.4%
2026
20252026
Total assets
€184,115
▲ 60.1%
2026
20252026
Debt
€30,799
▼ 11.7%
2026
20252026
Working capital
€153,316
▲ 91.4%
2026
20252026
Solvency
83.3%
▲ 13.6pp
2026
20252026
Current ratio
5.98
▲ 2.68
2026
20252026
Return on assets (ROA)
39.8%
▼ 27.3pp
2026
20252026
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20252026
Operating result€97,650-€92,869▼ 4.9%
Net result€77,098above the sector's middle half-€73,218▼ 5.0%
Equity€80,098within the sector's middle half-€153,316▲ 91.4%
Total assets€114,969within the sector's middle half-€184,115▲ 60.1%
Debt€34,871-€30,799▼ 11.7%
Working capital€80,098within the sector's middle half-€153,316▲ 91.4%
Solvency69.7%within the sector's middle half-83.3%▲ 13.6pp
Current ratio3.30within the sector's middle half-5.98▲ 2.68
Return on assets (ROA)67.1%above the sector's middle half-39.8%▼ 27.3pp
above
within
below
The sector band is the middle half of the companies in Computer programming, consultancy and related activities (NACE 62). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2026 is 5% lower than in 2025.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Equity and liabilities €184,115
Equity
€153,316 ▲ 91.4%
Debt
€30,799 ▼ 11.7%
Debt's share of the balance-sheet total falls from 30.3% to 16.7%. Equity is higher and debt is lower.
Key figures and ratios
Debt to equity
0.20▼
2025 · 0.44
ROE
47.8%▼
2025 · 96.3%
Debt ≤ 1 year
€30,799▼
2025 · €34,871
Income taxes
€19,380▼
2025 · €20,530
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2025 | 2026 | Change |
|---|---|---|---|
| Other operating charges640/8 | €101 | €356 | ▲ 252% |
| Gross operating margin9900 | €97,751 | €93,225 | ▼ 4.6% |
| Operating profit (loss)9901 | €97,650 | €92,869 | ▼ 4.9% |
| Financial income75/76B | €0 | €18 | ▲ 204× |
| Recurring financial income75 | €0 | €18 | ▲ 204× |
| Financial charges65/66B | €22 | €290 | ▲ 13× |
| Recurring financial charges65 | €22 | €290 | ▲ 13× |
| Profit (loss) for the period before taxes9903 | €97,628 | €92,598 | ▼ 5.2% |
| Income taxes67/77 | €20,530 | €19,380 | ▼ 5.6% |
| Profit (loss) for the period9904 | €77,098 | €73,218 | ▼ 5.0% |
| Profit (loss) for the period to be appropriated9905 | €77,098 | €73,218 | ▼ 5.0% |
| Line | 2025 | 2026 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €114,969 | €184,115 | ▲ 60.1% |
| Current assets29/58 | €114,969 | €184,115 | ▲ 60.1% |
| Amounts receivable within one year40/41 | €12,874 | €18,634 | ▲ 44.7% |
| Trade receivables40 | €12,874 | €18,634 | ▲ 44.7% |
| Cash at bank and in hand54/58 | €96,867 | €161,909 | ▲ 67.1% |
| Deferred charges and accrued income490/1 | €5,228 | €3,571 | ▼ 31.7% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €114,969 | €184,115 | ▲ 60.1% |
| Equity10/15 | €80,098 | €153,316 | ▲ 91.4% |
| Contributions10/11 | €3,000 | €3,000 | = |
| Reserves13 | €77,098 | €150,316 | ▲ 95.0% |
| Distributable reserves133 | €77,098 | €150,316 | ▲ 95.0% |
| Amounts payable17/49 | €34,871 | €30,799 | ▼ 11.7% |
| Amounts payable within one year42/48 | €34,871 | €30,799 | ▼ 11.7% |
| Financial debts43 | €46 | €11 | ▼ 76.8% |
| Credit institutions430/8 | €46 | €11 | ▼ 76.8% |
| Trade debts44 | €1,406 | €745 | ▼ 47.0% |
| Suppliers440/4 | €1,406 | €745 | ▼ 47.0% |
| Taxes, remuneration and social security45 | €33,301 | €29,959 | ▼ 10.0% |
| Taxes450/3 | €31,301 | €27,914 | ▼ 10.8% |
| Remuneration and social security454/9 | €2,000 | €2,046 | ▲ 2.3% |
| Other amounts payable47/48 | €118 | €84 | ▼ 28.3% |
Historical observation
In July 2024, 39,278 companies had the same profile as MDAX has now. Two years later, 95.8% were still going and 1.8% had gone bankrupt.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.8%
was still going
2.3%
stopped otherwise
1.8%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of MDAX itself is lower: < 0.1% within 12 months. It rests on far more data about MDAX than the profile alone.
Test of the method
The method was tested on the 497,446 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 39,278 companies, not a prediction for MDAX. 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.
Board & ownership
Directors
Directors
1 director, no change since 2024
MEEUS, Ken
Current
Director (not named in the articles) · since 20-03-2024 · term without a fixed end · listed in the 2026 annual accounts, filed on 19-10-2026
Owners and capital
Shareholders
At incorporation
act of 22-03-2024 ↗
- MEEUS, Ken sole founder · 100% at incorporation
Capital transactions
Capital over time
- 22-03-2024 Incorporation · €3,000 · 3,000 shares
Network & group
MDAX shares no director with another company.
Connections & network
1 current directorThe network starts from the directors of MDAX. Every other company they run is a node.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Timeline
Acts, filings and financial milestones
Deadline for the 2027 accounts:
2026
19-10
micro format · 12 days before the deadline
31-03
Financial
Equity above €150,000equity €153,316 ▲91.4%
With a profit in every financial year since 2025, equity grows to €153,316.
2025
13-10
micro format · 18 days before the deadline
2024
22-03
Gazette deed
IncorporationStarting capital €3,000 · Appointment: MEEUS, Ken (director) · Founder5 points ▸
Gazette deed
Incorporation
Starting capital €3,000 · Appointment: MEEUS, Ken (director) · Founder5 points ▸
- Incorporation, “MDAX” (deed in Dutch)
- Founder, MEEUS, Ken
- Founding capital, €3,000
- Director appointment, MEEUS, Ken (director (not named in the articles))
- Pre-incorporation commitments, “takeover, alle verbintenissen, verplichtingen en activiteiten in naam en voor rekening van vennootschap in oprichting” (deed in Dutch)
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
MDAX in Dutch
Enterprise number
1007.342.525
LEI code
699400ARQLJZZUXCBL84
live in the LEI register
Legal form
Private limited company
Status
Active, normale toestand
Founded
20-03-2024
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 22-03-2024 (in Dutch)Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Vlaams Gewest, 2370 Arendonk, Schutterstraat 67”
deed of 22-03-2024 (in Dutch)Registered office and establishments
Registered office
Schutterstraat 67, 2370 Arendonk, Belgium
Establishment unit
MDAX, Schutterstraat 67, 2370 Arendonk since 20-03-2024 · unit number 2.357.264.009
Activities
NACEBEL 202562200
Computer consultancy and computer facilities management main activity
58290
Other software publishing
62100
Computer programming
62900
Other information technology and computer services
74999
Other professional, scientific and technical activities
82990
Other business support services
Codes under NACEBEL 2008
62020
IT consultancy main activity
58290
Publishing activities
62010
Computer programming, consultancy and related activities
62090
Computer programming, consultancy and related activities
74909
Other professional, scientific and technical activities
82990
Other business support services
PurposeThe purpose describes the activities the company may carry out under its articles.
deed of 22-03-2024 (in Dutch)
“Advies, management, consulting en operationele ondersteuning op het gebied van bedrijfsmanagement, bedrijfsorganisatie, commerciële en…”
27 activities
- Advies, management, consulting en operationele ondersteuning op het gebied van bedrijfsmanagement, bedrijfsorganisatie, commerciële en operationele strategie.
- Advies, management, consulting en operationele ondersteuning op het gebied van informatie en communicatie technologie (ICT).
- Projectmanagement.
- Het verlenen van adviezen en hulp aan het bedrijfsleven en de overheid op het gebied van planning, organisatie, efficiëntie en toezicht, het verschaffen van informatie.
- Managementactiviteiten van holdings, het dagelijks bestuur: tussenkomen in het dagelijks bestuur, vertegenwoordigen van bedrijven op grond van bezit van of controle over het maatschappelijk kapitaal, enzovoort.
- Arbitrage en bemiddeling tussen bedrijfsleiding en werknemers.
- Het op lange termijn aanhouden van aandelen van verschillende bedrijven.
- Overige activiteiten in verband met administratie, niet elders genoemd.
- IT Consultancy.
- Computerconsultancy-activiteiten.
- Het verlenen van management consulting services.
- Ontwerpen en programmeren van computerprogramma’s.
- Beheer en onderhouden van ICT-infrastructuur en computerfaciliteiten.
- Het ontwikkelen, verkopen, implementeren en beheren van software, alsmede détacheren van consultants, een en ander in de ruimste zin van het woord
- Het geven van cursussen en voordrachten in de meest ruime zin van het woord, aan onderwijsinstellingen zoals scholen, hogescholen, universiteiten, het geven van gastcolleges, alsook aan privé-instellingen, het bedrijfsleven en de overheid.
- Administratieve en ondersteunende activiteiten ten behoeve van kantoren en overige zakelijke activiteiten.
- Activiteiten van systeemintegrators.
- Overige diensten op gebied van informatietechnologie en computer.
- Gegevensverwerking, webhosting en aanverwante activiteiten.
- Verkoop langs het internet.
- Ontwerpen en programmeren van computerprogramma's.
- Beheer van computerfaciliteiten.
- Webportalen.
- Overige onderwijsondersteunende dienstverlening
- Overige zakelijke dienstverlening.
- Onderneming in onroerende goederen.
- Het toestaan van leningen en kredietopeningen aan vennootschappen of particulieren.
Invoicing and payment
VAT number
BE 1007.342.525
Financial year and general meeting
Accounts at the NBBFinancial year end
31-03
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
20 September at 19:00
deed of 22-03-2024 (in Dutch)Sites & property
Location
Buildings and parcels at the address
Ground area
507 m²
Building footprint
76 m²
Building volume
466 m³
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 13001A1603/00V000 | Flanders | 506 m² | 1 · 76 m² | 9.4 m · 2 |