MDB Projects
Annual accounts 2025
micro format, filed on 28-07-2026, 3 days before the deadlineTurnover and EBIT margin are not published. The micro format does not require them.
Balance sheet
balance sheet total €148,496 on 31-12-2025in euro
in euro
Position in the sector
88.1%
Higher than 87% of 39,368 companies in 2025.
8.20
Higher than 87% of 38,051 companies in 2025.
-7.0%
Higher than 10% of 38,523 companies in 2025.
Net result: bottom quarter · Equity: middle half · Balance sheet total: middle half · Working capital: middle half
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||
20/58 |
148,496 | 165,150 | 162,213 | 197,145 | 87,410 | 50,218 | |
21/28 |
3,836 | 6,625 | 9,675 | 9,920 | 6,345 | 2,568 | |
22/27 |
3,836 | 6,625 | 9,675 | 9,920 | 6,345 | 2,568 | |
24 |
2,662 | 4,907 | 7,413 | 9,920 | 6,345 | 2,568 | |
26 |
1,175 | 1,718 | 2,261 | - | - | - | |
29/58 |
144,660 | 158,525 | 152,539 | 187,226 | 81,065 | 47,651 | |
29 |
- | - | - | - | - | 12,128 | |
291 |
- | - | - | - | - | 12,128 | |
40/41 |
108,160 | 118,694 | 116,196 | 106,902 | 37,418 | - | |
40 |
8,160 | 11,137 | 6,902 | 6,902 | - | - | |
41 |
100,000 | 107,557 | 109,293 | 100,000 | 37,418 | - | |
50/53 |
26,650 | 26,650 | 26,650 | - | - | - | |
54/58 |
9,849 | 13,181 | 9,693 | 80,323 | 43,648 | 35,522 | |
| Balance sheet: equity and liabilities | |||||||
10/49 |
148,496 | 165,150 | 162,213 | 197,145 | 87,410 | 50,218 | |
10/15 |
130,854 | 141,231 | 144,733 | 117,315 | 57,123 | 30,468 | |
10/11 |
100 | 100 | 100 | 100 | 100 | 100 | |
13 |
130,754 | 141,131 | 144,633 | 117,215 | 57,023 | 30,368 | |
133 |
130,754 | 141,131 | 144,633 | 117,215 | 57,023 | 30,368 | |
17/49 |
17,642 | 23,919 | 17,480 | 79,830 | 30,287 | 19,750 | |
42/48 |
17,642 | 23,919 | 17,480 | 79,830 | 30,287 | 19,750 | |
44 |
2,233 | 693 | 129 | 16,438 | 11,447 | 2,646 | |
440/4 |
2,233 | 693 | 129 | 16,438 | 11,447 | 2,646 | |
45 |
8,066 | 5,829 | 5,079 | 37,178 | 18,840 | 17,104 | |
450/3 |
8,066 | 5,829 | 5,079 | 37,178 | 18,840 | 16,802 | |
454/9 |
- | - | - | - | - | 302 | |
47/48 |
7,342 | 17,396 | 12,272 | 26,214 | - | - | |
| Income statement | |||||||
9900 |
-2,322 | 4,348 | 42,992 | 101,426 | 38,031 | 40,954 | |
630 |
2,789 | 3,050 | 2,962 | 1,643 | 708 | 261 | |
640/8 |
1,997 | 868 | 900 | 1,759 | 683 | 1,191 | |
9901 |
-7,107 | 431 | 39,130 | 98,024 | 36,639 | 39,501 | |
75/76B |
0 | 1,440 | 1,198 | 1,452 | 2,426 | 576 | |
75 |
0 | 1,440 | 1,198 | 1,452 | 2,426 | 576 | |
65/66B |
2,341 | 2,929 | 2,204 | 2,003 | 748 | 324 | |
65 |
2,341 | 2,929 | 2,204 | 2,003 | 748 | 324 | |
9903 |
-9,448 | -1,059 | 38,125 | 97,474 | 38,317 | 39,752 | |
67/77 |
929 | 2,443 | 10,707 | 22,782 | 11,661 | 9,384 | |
9904 |
-10,377 | -3,502 | 27,418 | 74,692 | 26,655 | 30,368 | |
9905 |
-10,377 | -3,502 | 27,418 | 74,692 | 26,655 | 30,368 | |
| Appropriation of the result | |||||||
9906 |
-10,377 | -3,502 | 27,418 | 74,692 | 26,655 | 30,368 | |
791/2 |
10,377 | 3,502 | - | - | - | - | |
691/2 |
- | - | 27,418 | 60,192 | 26,655 | 30,368 | |
6921 |
- | - | 27,418 | 60,192 | 26,655 | 30,368 | |
694/7 |
- | - | - | 14,500 | - | - | |
695 |
- | - | - | 14,500 | - | - | |
| Document | |||||||
The notes to these accounts have 6 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 28-07-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 28-07-2026 | 2026-00341035 | |
| 31-12-2024 | micro format | 01-08-2025 | 2025-00351544 | |
| 31-12-2023 | micro format | 19-08-2024 | 2024-00350543 | |
| 31-12-2022 | micro format | 29-09-2023 | 2023-00461188 | |
| 31-12-2021 | micro format | 29-08-2022 | 2022-20336312 | |
| 31-12-2020 | micro format | 29-06-2021 | 2021-26700208 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| -4,319 | 3,480 | 42,092 | 99,667 | 37,347 | 39,762 | ||
| -7,589 | -452 | 30,380 | 76,335 | 27,363 | 30,629 | ||
| 45,181 | 0 | 2,717 | 27,102 | 4,485 | 2,829 | ||
| -3,332 | 3,488 | -70,630 | 36,676 | 8,125 | - | ||
| 127,018 | 134,606 | 135,058 | 107,395 | 50,779 | 27,900 | ||
| 88.1% | 85.5% | 89.2% | 59.5% | 65.4% | 60.7% | ||
| 8.20 | 6.63 | 8.73 | 2.35 | 2.68 | 2.41 | ||
| 0.13 | 0.17 | 0.12 | 0.68 | 0.53 | 0.65 | ||
| -7.9% | -2.5% | 18.9% | 63.7% | 46.7% | 99.7% | ||
| -7.0% | -2.1% | 16.9% | 37.9% | 30.5% | 60.5% | ||
| -1.85 | 1.19 | 19.10 | 49.76 | 49.91 | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €45,181 | - | €2,717 | €27,102 | €4,485 |
| €2,789 | €3,050 | €2,962 | €1,643 | €708 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Insights on MDB Projects
The operating result for 2025 is a loss of €7,107, after a profit of €431 in 2024. It is the lowest result since 2020.
Debt's share of the balance-sheet total falls from 14.5% to 11.9%. Equity and debt are lower.