MDD Construct
ActiveSummary
The computed 12-month bankruptcy probability of MDD Construct is 2.4% (moderate). The 2025 annual accounts show equity of €34,618 and a net result of -€4,478. Equity is growing by ~23.8% per year across the filed fiscal years. Its solvency ranks better than 14% of 28374 sector peers (fiscal year 2025). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability67▼-5
Solvency35▼-2
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
2.4%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,000 at 30 days only on tighter terms
Liquidity tight (current ratio 1.07 against 1.06 in 2024; short-term debt: 90% and cash: 0.1% of total assets), and 90% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
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 →
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
10%
Return on assets
-1.3%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 14% of 28374 sector peers (2025).
NBB · sector comparisonPosition among 28374 sector peers
Solvency
better than 14%
← weakest
strongest →
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 30-07-2026, 1 day ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
1 d early
2024
on the day
2023
30 d late
2022
11 d early
2021
26 d late
2020
17 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 5 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 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 31 July (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€34,618▼ 11.5%
2024 · €39,096
Total assets
€347,078▲ 8.4%
2024 · €320,324
Net result
-€4,478
2024 · €8,250
Working capital
€20,819▲ 16.0%
2024 · €17,954
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€21,729▲ 142%€1,940▼ 91.1%€11,170▲ 476%€14,609▲ 30.8%-€439
Net result€17,377within the sector's middle half▲ 146%-€1,523below the sector's middle half€5,923within the sector's middle half€8,250within the sector's middle half▲ 39.3%-€4,478below the sector's middle half
Equity€26,445within the sector's middle half▲ 192%€24,923within the sector's middle half▼ 5.8%€30,846within the sector's middle half▲ 23.8%€39,096within the sector's middle half▲ 26.7%€34,618within the sector's middle half▼ 11.5%
Total assets€61,213below the sector's middle half▲ 52.7%€96,353within the sector's middle half▲ 57.4%€280,066within the sector's middle half▲ 191%€320,324above the sector's middle half▲ 14.4%€347,078above the sector's middle half▲ 8.4%
Debt€34,768▲ 12.1%€71,431▲ 105%€249,220▲ 249%€281,228▲ 12.8%€312,460▲ 11.1%
Working capital€17,061within the sector's middle half▲ 282%€49,716within the sector's middle half▲ 191%€107,864above the sector's middle half▲ 117%€17,954within the sector's middle half▼ 83.4%€20,819within the sector's middle half▲ 16.0%
Solvency43.2%within the sector's middle half▲ 20.6pp25.9%within the sector's middle half▼ 17.3pp11.0%below the sector's middle half▼ 14.9pp12.2%below the sector's middle half▲ 1.2pp10.0%below the sector's middle half▼ 2.2pp
Current ratio1.70within the sector's middle half▲ 0.562.93within the sector's middle half▲ 1.221.70within the sector's middle half▼ 1.231.06below the sector's middle half▼ 0.641.07below the sector's middle half=
Return on assets (ROA)28.4%above the sector's middle half▲ 10.8pp-1.6%below the sector's middle half▼ 30.0pp2.1%within the sector's middle half▲ 3.7pp2.6%within the sector's middle half▲ 0.5pp-1.3%below the sector's middle half▼ 3.9pp
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €439 after €14,609 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €347,078
Fixed assets
€13,799 ▼ 34.7%
Current assets
€333,279 ▲ 11.4%
Equity and liabilities €347,078
Equity
€34,618 ▼ 11.5%
Debt
€312,460 ▲ 11.1%
Debt's share of the balance-sheet total rises from 87.8% to 90.0%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€8,930▼
2024 · €23,607
Cash flow
€4,891▼
2024 · €17,248
Debt to equity
9.03▲
2024 · 7.19
ROE
-12.9%▼
2024 · 21.1%
Interest coverage
7.54▼
2024 · 65.96
Debt ≤ 1 year
€312,460▲
2024 · €281,228
Income taxes
€785▼
2024 · €5,175
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 849 companies that looked in July 2024 the way this one looks now, 4.6% went bankrupt within 24 months and 92% are still going.
- Micro
- 5 to 10 years old
- solvency under 10%
- a small loss
4.6%
went bankrupt
3.3%
stopped otherwise
92%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 2.4% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,341 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
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 849 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 | €826 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,043 | €6,780 | €8,389 | €8,997 | €9,369 | ▲ 4.1% |
| Other operating charges640/8 | €2,622 | €3,721 | €3,458 | €3,412 | €5,435 | ▲ 59.3% |
| Gross operating margin9900 | €28,395 | €12,441 | €23,016 | €27,018 | €14,365 | ▼ 46.8% |
| Operating profit (loss)9901 | €21,729 | €1,940 | €11,170 | €14,609 | -€439 | ▼ 103% |
| Financial income75/76B | €420 | €40 | €549 | €1,369 | €705 | ▼ 48.5% |
| Recurring financial income75 | €420 | €40 | €549 | €1,246 | €0 | ▼ 100% |
| Non-recurring financial income76B | €420 | €40 | €549 | €123 | €705 | ▲ 472% |
| Financial charges65/66B | €384 | €2,163 | €2,850 | €2,553 | €3,959 | ▲ 55.1% |
| Recurring financial charges65 | €287 | €2,112 | €358 | €358 | €1,184 | ▲ 231% |
| Non-recurring financial charges66B | €97 | €51 | €2,492 | €2,195 | €2,775 | ▲ 26.4% |
| Profit (loss) for the period before taxes9903 | €21,765 | -€182 | €8,870 | €13,425 | -€3,693 | ▼ 128% |
| Income taxes67/77 | €4,388 | €1,340 | €2,946 | €5,175 | €785 | ▼ 84.8% |
| Profit (loss) for the period9904 | €17,377 | -€1,523 | €5,923 | €8,250 | -€4,478 | ▼ 154% |
| Profit (loss) for the period to be appropriated9905 | €17,377 | -€1,523 | €5,923 | €8,250 | -€4,478 | ▼ 154% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €61,213 | €96,353 | €280,066 | €320,324 | €347,078 | ▲ 8.4% |
| Fixed assets21/28 | €19,796 | €20,815 | €17,988 | €21,143 | €13,799 | ▼ 34.7% |
| Tangible fixed assets22/27 | €19,796 | €20,815 | €17,988 | €21,143 | €13,799 | ▼ 34.7% |
| Plant, machinery and equipment23 | €6,306 | €7,659 | €8,178 | €14,129 | €9,632 | ▼ 31.8% |
| Furniture and vehicles24 | €13,490 | €13,156 | €9,810 | €7,014 | €4,166 | ▼ 40.6% |
| Current assets29/58 | €41,417 | €75,538 | €262,078 | €299,182 | €333,279 | ▲ 11.4% |
| Amounts receivable after more than one year29 | €2,950 | - | - | - | - | - |
| Other amounts receivable291 | €2,950 | - | - | - | - | - |
| Amounts receivable within one year40/41 | €36,245 | €57,507 | €164,407 | €226,581 | €332,840 | ▲ 46.9% |
| Trade receivables40 | €22,700 | €44,564 | €140,776 | €220,681 | €315,239 | ▲ 42.8% |
| Other amounts receivable41 | €13,544 | €12,943 | €23,631 | €5,900 | €17,602 | ▲ 198% |
| Cash at bank and in hand54/58 | €2,222 | €18,031 | €20,389 | €72,601 | €439 | ▼ 99.4% |
| Deferred charges and accrued income490/1 | - | - | €77,283 | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €61,213 | €96,353 | €280,066 | €320,324 | €347,078 | ▲ 8.4% |
| Equity10/15 | €26,445 | €24,923 | €30,846 | €39,096 | €34,618 | ▼ 11.5% |
| Contributions10/11 | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Reserves13 | €24,445 | €22,923 | €28,846 | €37,096 | €32,618 | ▼ 12.1% |
| Distributable reserves133 | €24,445 | €22,923 | €28,846 | €37,096 | €32,618 | ▼ 12.1% |
| Amounts payable17/49 | €34,768 | €71,431 | €249,220 | €281,228 | €312,460 | ▲ 11.1% |
| Amounts payable within one year42/48 | €24,356 | €25,822 | €154,214 | €281,228 | €312,460 | ▲ 11.1% |
| Trade debts44 | €2,235 | €10,157 | €45,947 | €210,847 | €234,869 | ▲ 11.4% |
| Suppliers440/4 | €2,235 | €10,157 | €45,947 | €210,847 | €234,869 | ▲ 11.4% |
| Advances received on contracts in progress46 | €12,757 | €2,056 | €88,045 | €49,271 | €63,251 | ▲ 28.4% |
| Taxes, remuneration and social security45 | €6,278 | €10,428 | €15,319 | €17,201 | €8,912 | ▼ 48.2% |
| Taxes450/3 | €6,278 | €6,278 | €9,224 | €9,752 | €7,863 | ▼ 19.4% |
| Remuneration and social security454/9 | - | €4,150 | €6,095 | €7,449 | €1,049 | ▼ 85.9% |
| Other amounts payable47/48 | €3,087 | €3,181 | €4,903 | €3,909 | €5,428 | ▲ 38.9% |
| Accrued charges and deferred income492/3 | €10,412 | €45,609 | €95,006 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €17,377 | -€1,523 | €5,923 | €8,250 | -€4,478 | ▼ 154% |
| + Depreciation and write-downs630 | €4,043 | €6,780 | €8,389 | €8,997 | €9,369 | ▲ 4.1% |
| Operating cash flow (approximation) | €21,420 | €5,258 | €14,312 | €17,248 | €4,891 | ▼ 71.6% |
| Investment in fixed assets (approximation) | - | -€7,800 | -€5,562 | -€12,152 | -€2,025 | ▲ 83.3% |
| Change in cash | - | €15,809 | €2,358 | €52,212 | -€72,162 | ▼ 238% |
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
30-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
17-06
State Gazette act
Appointment: Gheorghe MARTIN (non-statutory director)3 facts ▸
State Gazette act
Appointment: Gheorghe MARTIN (non-statutory director)
3 facts ▸
- General meeting, 30-04-2026
- Director appointment, Gheorghe MARTIN (non-statutory director)
- Other statement, publicatie van de beslissingen van deze vergadering, aangewezen ondertekenaar voor publicatie
2025
31-12
Financial
Weakest financial yearnet -€4,478
Net result drops to -€4,478, the lowest in the series.
31-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
31-12
Financial
Back to profitnet €5,923
Net result €5,923 after one loss-making year.
20-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
26-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 26 days late
2021
31-12
Financial
Highest result since 2020net €17,377 ▲146%
Operating result €21,729, net result €17,377, both a record.
14-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 4 acts read
About the unread acts
Of the 4 Belgian State Gazette acts we know for this company, 1 has been read. The other 3 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 director, last change in 2026
Gheorghe MARTIN
CurrentNon-statutory director · since 01-05-2026
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
3 of this company's 4 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Wezembeek-Oppem · 1 establishment unit since 2020
Ground area
398 m²
Building footprint
185 m²
Volume, LiDAR
1,118 m³
Parcel 22302D0190/00G003, Flanders · tallest building 10.3 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
MDD Construct
since 20202.304.212.927
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 22302D0190/00G003 | Flanders | 398 m² | 1 · 185 m² | 10.3 m · 2 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.
Mandate history
1 person since 2026, 1 in office
- Board
| Name | Functions and periods |
|---|---|
| Gheorghe MARTIN |
|
Structure & network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
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Shareholding
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Company details
Identification
Legal formPrivate limited company
Founded26-06-2020
Fiscal year end31-12
Activities, NACEBEL 2025
43120Site preparation
43990Other specialised construction activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0749435262
Also
9925:BE0749435262
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.