MDB PROJECTS
ActiveFor MDB PROJECTS, at least two filing cycles of the annual accounts are missing. The 2023 annual accounts show equity of €3.25M and a net result of €507k. Equity is growing by ~15.4% per year across the filed fiscal years. Its solvency ranks better than 46% of 9352 sector peers (fiscal year 2023). The company has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
No current score
Figures too old
The available figures for FY 2023 are too old to assess current financial health.
Filing: At least two filing cycles are missing
Axes, FY 2023 · tick = 2022
Profitability74▲+1
Solvency53▲+2
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
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
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Sector 68
lower
← 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 2023Solvency, return and age of the figures
Solvency
27.6%
Return on assets
4.3%
Age of the figures
33 mo
raises risk · Two or more financial years not filed
Since the financial year that closed on 31-12-2024, 2 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 10 filingsPosition against the passed deadline
31-12-2024 close31-07-2025 deadline19-09-2026 today
neutral · Filed after the deadline
The financial year that closed on 31-12-2023 was due by 31-07-2024 and was filed on 29-08-2024, 29 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
not confirmed
2024
not filed
2023
29 d late
2022
87 d late
2021
66 d late
2020
9 d late
2019
28 d early
← before the deadline
after the deadline →
Financials · fiscal year 2023, abbreviated schema
Equity
€3.25M▲ 18.5%
2022 · €2.75M
2018: €1.86M
2019: €1.78M
2020: €2.06M
2021: €2.35M
2022: €2.75M
2018 → 2023
Total assets
€11.77M▲ 11.9%
2022 · €10.52M
2018: €12.04M
2019: €12.10M
2020: €11.67M
2021: €10.93M
2022: €10.52M
2018 → 2023
Net result
€507k▲ 27.0%
2022 · €399k
2018: €-134k
2019: €-73k
2020: €274k
2021: €290k
2022: €399k
2018 → 2023
Working capital
€-2.76M▲ 30.7%
2022 · €-3.98M
2018: €-2.06M
2019: €-3.37M
2020: €-4.27M
2021: €-4.85M
2022: €-3.98M
2018 → 2023
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20192020202120222023Trend
Equity€1.78M-€2.06M▲ 15.4%€2.35M▲ 14.1%€2.75M▲ 17.0%€3.25M▲ 18.5%
Operating result€163k-€605k▲ 272%€621k▲ 2.6%€813k▲ 31.0%€886k▲ 8.9%
Net result€-73k-€274k€290k▲ 5.6%€399k▲ 37.9%€507k▲ 27.0%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2023 is 9% above 2022 and is the highest result in the available series.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €11.77M
Fixed assets
€8.68M▼ 9.2%
Current assets
€3.09M▲ 221%
Equity and liabilities €11.77M
Equity
€3.25M▲ 18.5%
Debt
€8.52M▲ 9.5%
The debt ratio falls from 73.9% to 72.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€1.76M▲
2022 · €1.69M
Cash flow
€1.38M▲
2022 · €1.28M
Solvency
27.6%▲
2022 · 26.1%
Current ratio
0.53▲
2022 · 0.19
Quick ratio
0.53▲
2022 · 0.19
Debt / equity
2.62▼
2022 · 2.83
ROE
15.6%▲
2022 · 14.5%
ROA
4.3%▲
2022 · 3.8%
Interest coverage
52.10▲
2022 · 15.60
Debt
€8.52M▲
2022 · €7.77M
Debt ≤ 1 year
€5.85M▲
2022 · €4.95M
Debt > 1 year
€2.67M▼
2022 · €2.67M
Income taxes
€345k▲
2022 · €306k
Staff costs
€31k▼
2022 · €77k
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 · 2023 against 2022
Balance sheet
Code20222023
Assets
Total assets20/58€10.52M€11.77M▲
Fixed assets21/28€9.56M€8.68M▼
Tangible fixed assets22/27€9.56M€8.68M▼
Land and buildings22€9.56M€8.68M▼
Plant, machinery and equipment23-€1k
Financial fixed assets28€144€144=
Current assets29/58€962k€3.09M▲
Amounts receivable within one year40/41€930k€2.86M▲
Trade receivables40€196k€1.09M▲
Other amounts receivable41€733k€1.77M▲
Cash at bank and in hand54/58€23k€211k▲
Deferred charges and accrued income490/1€10k€15k▲
Equity and liabilities
Total equity and liabilities10/49€10.52M€11.77M▲
Equity10/15€2.75M€3.25M▲
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Revaluation surpluses12€4.84M€4.40M▼
Reserves13€2.20M€2.64M▲
Distributable reserves133€2.20M€2.64M▲
Profit (loss) carried forward14€-4.36M€-3.85M▲
Amounts payable17/49€7.77M€8.52M▲
Amounts payable after more than one year17€2.67M€2.67M▼
Financial debts170/4€2.67M€2.67M▼
Amounts payable within one year42/48€4.95M€5.85M▲
Current portion of amounts payable after more than one year42€402k-
Trade debts44€922k€1.17M▲
Suppliers440/4€922k€1.17M▲
Advances received on contracts in progress46-€603k
Taxes, remuneration and social security45€895k€1.31M▲
Taxes450/3€892k€1.31M▲
Remuneration and social security454/9€4k-
Other amounts payable47/48€2.73M€2.76M▲
Accrued charges and deferred income492/3€155k-
Income statement
Code20222023
Non-recurring operating income76A€9k-
Remuneration, social security and pensions62€77k€31k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€878k€878k=
Other operating charges640/8€533k€195k▼
Gross operating margin9900€2.30M€1.99M▼
Operating profit (loss)9901€813k€886k▲
Financial income75/76B€1€4▲
Recurring financial income75€1€4▲
Financial charges65/66B€108k€34k▼
Recurring financial charges65€108k€34k▼
Profit (loss) for the period before taxes9903€705k€852k▲
Income taxes67/77€306k€345k▲
Profit (loss) for the period9904€399k€507k▲
Profit (loss) for the period to be appropriated9905€399k€507k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-4.36M€-3.85M▲
Profit (loss) brought forward from the previous period14P€-4.76M€-4.36M▲
Transfer from equity791/2-€440k
Transfer to equity691/2-€440k
To other reserves6921-€440k
Social balance
Average headcount (FTE)90871.81.0▼
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
2026
12-08
State Gazette act
Resignations & appointmentsDirector appointment1 fact ▸
State Gazette act
Resignations & appointments
Director appointment1 fact ▸
- Director appointment, Maarten Vinckier (voorlopige bewindvoerder)
2024
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 29 days late
2023
31-12
Financial
Highest result since 2018net €507k ▲27%
Operating result €886k, net result €507k, both a record.
26-10
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 87 days late
2022
05-10
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 66 days late
2021
09-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 9 days late
2020
31-12
Financial
Back to profitnet €274k
Net result €274k after 2 loss-making years.
31-12
Financial
Equity above €2MEq €2.06M ▲15.4%
Equity rises from €1.78M to €2.06M.
03-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 29 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 31 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 31 days late
2016
11-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
2015
24-07
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
1 director, no change since 2026
Maarten Vinckier
CurrentVoorlopige bewindvoerder · since 22-07-2026
22-07-2026
Appointed as Voorlopige bewindvoerder
Location & real-estate footprint
Registered office, Ledegem · 1 establishment unit since 2002
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.
Provinciebaan 518880 LedegemGround area
3,265 m²
Building footprint
1,147 m²
Volume, LiDAR
7,962 m³
Parcel 36010B0386/00P002, Flanders · tallest building 8.9 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
MDB PROJECTS
since 20022.114.439.256
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 36010B0386/00P002 | Flanders | 3,265 m² | 1 · 1,147 m² | 8.9 m · 2 fl. |
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.
Recognitions · licences · registrations
Legal Entity Identifier
549300LBIYLY3KXU1K98
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Of 11,748 companies in sector 68310 we hold annual accounts for 6,906. 2,162 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded21-06-2002
Fiscal year end31-12
Activities, NACEBEL
68310Real estate agency activities
68311Real estate activities
70311
70321
70322
81100Combined facilities support activities
Sources
Crossroads Bank for EnterprisesNational Bank · 21 filingsAddress and cadastre registers
Data from official sources, last processed on 19-09-2026. Scores and ratios are computed by Checked and are not a credit decision.