MDCF
ActiveSummary
MDCF has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €317,085 and a net result of €28,032. Equity is growing by ~9.7% per year across the filed fiscal years. Its solvency ranks better than 53% of 28051 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability74▲+10
Solvency75▲+7
Growth78=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €22,000 at 30 days acceptable
Liquidity ample (current ratio 3.39 against 2.37 in 2024; short-term debt: 14.9% and cash: 2.4% of total assets), and 49.8% of the assets are financed with debt.
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Signals
Four 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 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
50.2%
Return on assets
4.4%
Age of the figures
12 mo
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
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 30-04-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
on the day
2023
on the day
2022
2 d early
2021
2 d late
2020
61 d late
2019
39 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 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
27-09-2026 today30-09-2026 close30-04-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€317,085▲ 9.7%
2024 · €289,053
Total assets
€631,951▼ 6.2%
2024 · €673,516
Net result
€28,032▲ 75.5%
2024 · €15,971
Working capital
€225,689▲ 17.3%
2024 · €192,421
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€36,546▼ 76.5%€18,675▼ 48.9%€29,285▲ 56.8%€37,778▲ 29.0%€54,007▲ 43.0%
Net result€18,364▼ 80.8%€4,404▼ 76.0%€12,434▲ 182%€15,971▲ 28.4%€28,032▲ 75.5%
Equity€256,244▲ 7.7%€260,648▲ 1.7%€273,082▲ 4.8%€289,053▲ 5.8%€317,085▲ 9.7%
Total assets€1.6m▼ 13.1%€787,822▼ 49.2%€742,600▼ 5.7%€673,516▼ 9.3%€631,951▼ 6.2%
Debt€1.3m▼ 15.9%€527,174▼ 59.1%€469,517▼ 10.9%€384,463▼ 18.1%€314,866▼ 18.1%
Working capital€197,271▼ 2.1%€191,552▼ 2.9%€174,854▼ 8.7%€192,421▲ 10.0%€225,689▲ 17.3%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 43% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €631,951
Fixed assets
€311,799 ▼ 8.5%
Current assets
€320,152 ▼ 3.8%
Equity and liabilities €631,951
Equity
€317,085 ▲ 9.7%
Debt
€314,866 ▼ 18.1%
Debt's share of the balance-sheet total falls from 57.1% to 49.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€81,424▲
2024 · €70,621
Cash flow
€55,449▲
2024 · €48,814
Current ratio
3.39▲
2024 · 2.37
Debt to equity
0.99▼
2024 · 1.33
ROE
8.8%▲
2024 · 5.5%
ROA
4.4%▲
2024 · 2.4%
Interest coverage
7.28▲
2024 · 5.11
Debt ≤ 1 year
€94,463▼
2024 · €140,474
Debt > 1 year
€217,590▼
2024 · €243,989
Income taxes
€15,466▲
2024 · €8,015
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,040 companies that looked in July 2024 the way this one looks now, 0.3% went bankrupt within 24 months and 96% are still going.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
0.3%
went bankrupt
3.6%
stopped otherwise
96%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 0.8% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
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 6,040 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 | - | - | - | - | €11,899 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €27,293 | €28,241 | €30,437 | €32,843 | €27,417 | ▼ 16.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €252,530 | €61,492 | - | €45,000 | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | -€8,385 | -€5,183 | - | - | - | - |
| Other operating charges640/8 | €4,810 | €5,747 | €13,585 | €2,632 | €3,013 | ▲ 14.5% |
| Gross operating margin9900 | €60,264 | €300,010 | €134,799 | €73,253 | €129,437 | ▲ 76.7% |
| Operating profit (loss)9901 | €36,546 | €18,675 | €29,285 | €37,778 | €54,007 | ▲ 43.0% |
| Financial income75/76B | €201 | €52 | €1,437 | €32 | €2,190 | ▲ 6,744% |
| Recurring financial income75 | €201 | €52 | €615 | €32 | €2,190 | ▲ 6,744% |
| Non-recurring financial income76B | - | - | €823 | - | - | - |
| Financial charges65/66B | €11,620 | €10,752 | €11,741 | €13,825 | €12,699 | ▼ 8.1% |
| Recurring financial charges65 | €11,620 | €10,752 | €11,741 | €13,825 | €11,182 | ▼ 19.1% |
| Non-recurring financial charges66B | - | - | - | - | €1,517 | - |
| Profit (loss) for the period before taxes9903 | €25,128 | €7,975 | €18,981 | €23,986 | €43,498 | ▲ 81.3% |
| Income taxes67/77 | €6,763 | €3,571 | €6,547 | €8,015 | €15,466 | ▲ 93.0% |
| Profit (loss) for the period9904 | €18,364 | €4,404 | €12,434 | €15,971 | €28,032 | ▲ 75.5% |
| Profit (loss) for the period to be appropriated9905 | €18,364 | €4,404 | €12,434 | €15,971 | €28,032 | ▲ 75.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.6m | €787,822 | €742,600 | €673,516 | €631,951 | ▼ 6.2% |
| Fixed assets21/28 | €397,681 | €372,801 | €372,306 | €340,621 | €311,799 | ▼ 8.5% |
| Tangible fixed assets22/27 | €397,681 | €372,801 | €371,906 | €340,221 | €310,999 | ▼ 8.6% |
| Land and buildings22 | €360,946 | €343,616 | €344,041 | €324,889 | €306,511 | ▼ 5.7% |
| Plant, machinery and equipment23 | €18,065 | €13,170 | €8,935 | €5,415 | €2,832 | ▼ 47.7% |
| Furniture and vehicles24 | €1,378 | €3,048 | €10,417 | €5,991 | €1,656 | ▼ 72.4% |
| Leasing and similar rights25 | €17,291 | €12,966 | €8,512 | €3,926 | - | - |
| Financial fixed assets28 | - | - | €400 | €400 | €800 | ▲ 100% |
| Current assets29/58 | €1.2m | €415,021 | €370,293 | €332,895 | €320,152 | ▼ 3.8% |
| Amounts receivable within one year40/41 | €1.1m | €409,788 | €352,674 | €296,152 | €303,018 | ▲ 2.3% |
| Trade receivables40 | €1.1m | €381,079 | €317,466 | €251,233 | €232,037 | ▼ 7.6% |
| Other amounts receivable41 | €48,483 | €28,709 | €35,208 | €44,919 | €70,981 | ▲ 58.0% |
| Cash at bank and in hand54/58 | €13,611 | €3,794 | €17,063 | €35,783 | €15,152 | ▼ 57.7% |
| Deferred charges and accrued income490/1 | €5,357 | €1,439 | €556 | €960 | €1,983 | ▲ 107% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.6m | €787,822 | €742,600 | €673,516 | €631,951 | ▼ 6.2% |
| Equity10/15 | €256,244 | €260,648 | €273,082 | €289,053 | €317,085 | ▲ 9.7% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €231,224 | €235,628 | €248,062 | €264,033 | €292,065 | ▲ 10.6% |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | €229,364 | €233,768 | €246,202 | €262,173 | €290,205 | ▲ 10.7% |
| Profit (loss) carried forward14 | €6,420 | €6,420 | €6,420 | €6,420 | €6,420 | = |
| Provisions and deferred taxes16 | €5,183 | - | - | - | - | - |
| Provisions for liabilities and charges160/5 | €5,183 | - | - | - | - | - |
| Environmental obligations163 | €5,183 | - | - | - | - | - |
| Amounts payable17/49 | €1.3m | €527,174 | €469,517 | €384,463 | €314,866 | ▼ 18.1% |
| Amounts payable after more than one year17 | €333,524 | €303,512 | €274,078 | €243,989 | €217,590 | ▼ 10.8% |
| Financial debts170/4 | €333,524 | €303,512 | €274,078 | €243,989 | €217,590 | ▼ 10.8% |
| Amounts payable within one year42/48 | €956,291 | €223,470 | €195,439 | €140,474 | €94,463 | ▼ 32.8% |
| Current portion of amounts payable after more than one year42 | €29,402 | €30,920 | €29,222 | €30,089 | €26,400 | ▼ 12.3% |
| Trade debts44 | €809,956 | €119,455 | €108,751 | €96,414 | €51,077 | ▼ 47.0% |
| Suppliers440/4 | €809,956 | €119,455 | €108,751 | €96,414 | €51,077 | ▼ 47.0% |
| Taxes, remuneration and social security45 | €59,128 | €12,681 | €12,753 | €13,707 | €16,507 | ▲ 20.4% |
| Taxes450/3 | €59,128 | €12,681 | €12,753 | €13,707 | €16,507 | ▲ 20.4% |
| Other amounts payable47/48 | €57,804 | €60,413 | €44,713 | €264 | €480 | ▲ 81.7% |
| Accrued charges and deferred income492/3 | - | €192 | - | - | €2,813 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €18,364 | €4,404 | €12,434 | €15,971 | €28,032 | ▲ 75.5% |
| + Depreciation and write-downs630 | €27,293 | €28,241 | €30,437 | €32,843 | €27,417 | ▼ 16.5% |
| Operating cash flow (approximation) | €45,657 | €32,645 | €42,871 | €48,814 | €55,449 | ▲ 13.6% |
| Investment in fixed assets (approximation) | - | -€3,361 | -€29,943 | -€1,158 | €1,406 | ▲ 221% |
| Change in cash | - | -€9,817 | €13,269 | €18,720 | -€20,632 | ▼ 210% |
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
30-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
28-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-09
Financial
Weakest financial yearnet €4,404 ▼76%
Net result drops to €4,404, the lowest in the series; recovery starts the following year.
02-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 2 days late
2021
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 61 days late
2020
30-09
Financial
Equity above €200,000Eq €237,880 ▲59.8%
3 profitable years in a row build equity to €237,880.
08-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 39 days late
2019
30-09
Financial
Highest result since 2018net €121,854 ▲1,153%
Operating result €191,594, net result €121,854, both a record.
30-09
Financial
Equity above €100,000Eq €148,846 ▲325%
2 profitable years in a row build equity to €148,846.
21-05
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 21 days late
2018
11-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 11 days late
2017
25-05
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 25 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Kortrijk · 1 establishment unit since 2013
Ground area
1,344 m²
Building footprint
161 m²
Volume, LiDAR
684 m³
Parcel 34016B0607/00Y004, Flanders · tallest building 4.9 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
MDCF
since 20132.219.059.793
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34016B0607/00Y004 | Flanders | 1,344 m² | 1 · 161 m² | 4.9 m · 1 fl. |
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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteKortrijk2.219.059.793
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SHORT
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Of 22,831 companies in sector 43211 we hold annual accounts for 10,329. 7,472 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded25-03-2013
Fiscal year end30-09
Activities, NACEBEL 2025
43211General electrical installation work
43222Installation of electric heating, air conditioning, cooling and ventilation
46349Wholesale of beverages, general range
47252Retail sale of beverages, general range
64210Activities of holding companies
Contact
Phone
0479/89 28 61Kortrijk
E-invoicing
Reachable via Peppol
Peppol ID
0208:0524789004
Also
9925:BE0524789004
Registered
09-12-2025
Register as of 26 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.