MDB
ActiveMDB has been active since 2000 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €111k and a net result of €-8k. Equity is growing by ~11.7% per year across the filed fiscal years. Its solvency ranks better than 27% of 84 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
64
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability65▲+4
Solvency50=
Growth77▲+2
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €7k at 30 days acceptable
Liquidity tight (current ratio 1.49 against 1.42 in 2024; short-term debt: 15.9% and cash: 7.7% of total assets), and 74.5% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 03
Relative position
BE, all sectors
reference
Sector 03
higher
← fewer bankruptcies
more bankruptcies →
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
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
25.5%
Return on assets
-1.9%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-8k
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 11-06-2026, 50 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
50 d early
2024
30 d early
2023
36 d early
2022
24 d early
2021
33 d early
2020
46 d late
2019
143 d late
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
23-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
€378k▲ 21.5%
2024 · €311k
2020: €203k
2021: €417k
2022: €357k
2023: €333k
2024: €311k
2020 → 2025
EBIT margin
0.2%▼ 0.5pp
2024 · 0.7%
2020: -1.0%
2021: 16.4%
2022: 17.8%
2023: 12.2%
2024: 0.7%
2020 → 2025
Net result
€-8k▼ 59.7%
2024 · €-5k
2018: €-28k
2019: €1k
2020: €-6k
2021: €53k
2022: €43k
2023: €27k
2024: €-5k
2018 → 2025
Working capital
€34k▼ 27.9%
2024 · €47k
2018: €-36k
2019: €85k
2020: €66k
2021: €92k
2022: €151k
2023: €190k
2024: €47k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€417k-€357k▼ 14.4%€333k▼ 6.5%€311k▼ 6.7%€378k▲ 21.5%
Equity€61k-€116k▲ 90.5%€143k▲ 22.9%€119k▼ 16.7%€111k▼ 7.0%
Operating result€68k-€64k▼ 7.0%€41k▼ 36.1%€2k▼ 94.8%€707▼ 66.4%
Net result€53k-€43k▼ 18.8%€27k▼ 37.9%€-5k€-8k▼ 59.7%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen four years in a row; 2025 is 66% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €435k
Fixed assets
€332k▲ 6.7%
Current assets
€103k▼ 34.5%
Equity and liabilities €435k
Equity
€111k▼ 7.0%
Debt
€324k▼ 7.2%
The debt ratio stays at 74.5%.
Key figures and ratios
EBITDA
€51k▲
2024 · €37k
Cash flow
€42k▲
2024 · €29k
Solvency
25.5%▲
2024 · 25.4%
Current ratio
1.49▲
2024 · 1.42
Quick ratio
1.14▲
2024 · 1.04
Debt / equity
2.93▼
2024 · 2.93
ROE
-7.5%▼
2024 · -4.4%
ROA
-1.9%▼
2024 · -1.1%
Interest coverage
5.23▲
2024 · 4.85
Debt
€324k▼
2024 · €349k
Debt ≤ 1 year
€69k▼
2024 · €110k
Debt > 1 year
€246k▲
2024 · €230k
Income taxes
€205
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€468k€435k▼
Fixed assets21/28€311k€332k▲
Tangible fixed assets22/27€310k€331k▲
Land and buildings22€268k€257k▼
Plant, machinery and equipment23€39k€23k▼
Furniture and vehicles24€4k-
Leasing and similar rights25-€51k
Financial fixed assets28€556€556=
Current assets29/58€157k€103k▼
Stocks and contracts in progress3€43k€24k▼
Stocks30/36€43k€24k▼
Amounts receivable within one year40/41€113k€45k▼
Trade receivables40€112k€31k▼
Other amounts receivable41€594€14k▲
Cash at bank and in hand54/58€1k€34k▲
Deferred charges and accrued income490/1-€917
Equity and liabilities
Total equity and liabilities10/49€468k€435k▼
Equity10/15€119k€111k▼
Contributions10/11€10€10=
Reserves13€121k€121k=
Distributable reserves133€121k€121k=
Profit (loss) carried forward14€-2k€-10k▼
Amounts payable17/49€349k€324k▼
Amounts payable after more than one year17€230k€246k▲
Financial debts170/4€230k€246k▲
Amounts payable within one year42/48€110k€69k▼
Current portion of amounts payable after more than one year42€23k€35k▲
Trade debts44€72k€21k▼
Suppliers440/4€72k€21k▼
Taxes, remuneration and social security45€12k-
Taxes450/3€12k-
Other amounts payable47/48€4k€13k▲
Accrued charges and deferred income492/3€9k€9k=
Income statement
Code20242025
Turnover70€311k€378k▲
Goods, raw materials, services and sundry goods60/61€235k€328k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€35k€50k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€38k-
Other operating charges640/8€2k€2k▼
Gross operating margin9900€76k€52k▼
Operating profit (loss)9901€2k€707▼
Financial income75/76B€219€870▲
Recurring financial income75€219€870▲
Financial charges65/66B€8k€10k▲
Recurring financial charges65€8k€10k▲
Profit (loss) for the period before taxes9903€-5k€-8k▼
Income taxes67/77-€205
Profit (loss) for the period9904€-5k€-8k▼
Profit (loss) for the period to be appropriated9905€-5k€-8k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-2k€-10k▼
Profit (loss) brought forward from the previous period14P€3k€-2k▼
The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
11-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
01-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
25-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
07-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Equity above €100kEq €116k ▲90.5%
2 profitable years in a row build equity to €116k.
28-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €53k
Net result €53k after one loss-making year.
15-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 46 days late
2020
21-12
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 143 days late
2019
31-12
Financial
Back to profitnet €1k
Net result €1k after one loss-making year.
31-12
Financial
Liquidity times 6current ratio 2.43
Current ratio from 0.39 to 2.43.
02-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 63 days late
2018
30-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 61 days late
2017
30-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 61 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Kaprijke · 1 establishment unit since 2000
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Beukenlaan 169971 KaprijkeGround area
1,611 m²
Building footprint
332 m²
Parcel 43009B1209/00F000, Flanders. Linked by address, not a title deed.
1 establishment unit
Beukenlaan 16, 9971 Kaprijke
since 20002.099.392.873
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 43009B1209/00F000 | Flanders | 1,611 m² | 1 · 332 m² | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
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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SURCOUF
BE 0429.225.493
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REDERIJ VANDERBEKEN - LOUWAGIE
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Knokke-Heist · Eq €123k
JENS
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Aalter · Eq €124k
REDERIJ DINI
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Oostende · Eq €125k
REDERIJ POOLSTER
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Knokke-Heist · Eq €133k
Of 104 companies in sector 03110 we hold annual accounts for 76. 53 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded12-01-2000
Fiscal year end31-12
Activities, NACEBEL
03110Fishing and aquaculture
Sources
Crossroads Bank for EnterprisesNational Bank · 26 filingsAddress and cadastre registers
Data from official sources, last processed on 22-09-2026. Scores and ratios are computed by Checked and are not a credit decision.