MDelec
Annual accounts 2025
abbreviated format, filed on 27-07-2026, 4 days before the deadlineThe turnover shown is an estimate from the gross margin.
Turnover ≈ €620,000. Estimated: probably between €540,000 and €770,000.
Balance sheet
balance sheet total €933,508 on 31-12-2025in euro
in euro
Position in the sector
34.4%
Higher than 38% of 9,273 companies in 2025.
2.23
Higher than 64% of 9,196 companies in 2025.
7.9%
Higher than 61% of 9,241 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: middle half · Working capital: middle half · Staff: middle half
Staff
€32,768
Staff costs divided by the average number of full-time equivalents.
-1 person
In 2025, 5 people joined and 6 left.
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 |
933,508 | 870,650 | 311,044 | 209,556 | 158,556 | 63,754 | |
20 |
- | - | - | - | - | 2,108 | |
21/28 |
578,462 | 520,541 | 51,023 | 62,446 | 80,168 | 15,763 | |
21 |
532 | 2,167 | - | - | - | 0 | |
22/27 |
577,713 | 518,157 | 50,805 | 62,228 | 79,950 | 15,762 | |
22 |
518,764 | 496,676 | 11,415 | 495 | - | - | |
23 |
8,467 | 6,729 | 17,512 | 22,661 | 20,736 | 6,159 | |
24 |
50,482 | 14,751 | 21,879 | 39,073 | 59,214 | 9,603 | |
28 |
218 | 218 | 218 | 218 | 218 | - | |
29/58 |
355,045 | 350,109 | 260,021 | 147,110 | 78,388 | 45,884 | |
3 |
13,000 | 19,632 | 8,050 | 35,652 | 10,000 | 4,000 | |
30/36 |
13,000 | 19,632 | 8,050 | 35,652 | 10,000 | 4,000 | |
40/41 |
81,070 | 52,007 | 70,869 | 90,303 | 45,890 | 13,921 | |
40 |
76,181 | 32,487 | 46,414 | 63,344 | 25,357 | 9,459 | |
41 |
4,889 | 19,520 | 24,455 | 26,959 | 20,533 | 4,462 | |
54/58 |
238,223 | 278,343 | 180,051 | 21,155 | 22,482 | 27,166 | |
490/1 |
22,752 | 128 | 1,050 | - | 17 | 797 | |
| Balance sheet: equity and liabilities | |||||||
10/49 |
933,508 | 870,650 | 311,044 | 209,556 | 158,556 | 63,754 | |
10/15 |
320,908 | 299,709 | 225,291 | 103,266 | 75,698 | 30,686 | |
10/11 |
10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | |
13 |
296,500 | 288,500 | 214,500 | 93,000 | 65,500 | 20,500 | |
133 |
296,500 | 288,500 | 214,500 | 93,000 | 65,500 | 20,500 | |
14 |
1,583 | 1,209 | 791 | 266 | 198 | 186 | |
15 |
12,825 | - | - | - | - | - | |
17/49 |
612,600 | 570,941 | 85,753 | 106,291 | 82,859 | 33,068 | |
17 |
449,949 | 400,296 | 10,032 | 17,235 | 24,329 | - | |
170/4 |
449,949 | 400,296 | 10,032 | 17,235 | 24,329 | - | |
42/48 |
159,027 | 170,645 | 75,721 | 89,055 | 58,530 | 33,068 | |
42 |
36,954 | 26,316 | 7,203 | 7,093 | 6,985 | - | |
44 |
14,154 | 75,015 | 10,706 | 17,546 | 12,769 | 9,108 | |
440/4 |
14,154 | 75,015 | 10,706 | 17,546 | 12,769 | 9,108 | |
46 |
- | - | - | 27,746 | - | - | |
45 |
21,837 | 28,962 | 22,774 | 1,829 | 2,131 | 3,238 | |
450/3 |
12,511 | 23,917 | 22,774 | 584 | 537 | 3,238 | |
454/9 |
9,326 | 5,045 | - | 1,245 | 1,594 | - | |
47/48 |
86,082 | 40,352 | 35,038 | 34,841 | 36,645 | 20,723 | |
492/3 |
3,624 | - | - | - | - | - | |
| Income statement | |||||||
76A |
37,023 | 10,256 | 321 | 1,071 | 1,839 | - | |
9900 |
281,973 | 241,284 | 235,673 | 86,137 | 95,935 | 34,551 | |
62 |
104,859 | 70,032 | 16,972 | 9,987 | 14,775 | - | |
630 |
53,282 | 56,406 | 36,937 | 28,969 | 16,249 | 4,816 | |
631/4 |
1,749 | - | - | 2,925 | - | - | |
640/8 |
569 | 690 | 541 | 634 | 993 | 128 | |
66A |
- | 10,996 | 3,700 | 1,683 | - | - | |
9901 |
121,514 | 103,160 | 177,523 | 41,938 | 63,918 | 29,608 | |
75/76B |
3,869 | 1,476 | 3,930 | 2,530 | 1,414 | 417 | |
75 |
3,869 | 1,476 | 3,930 | 2,530 | 1,414 | 417 | |
65/66B |
25,369 | 7,517 | 4,903 | 2,113 | 1,664 | 125 | |
65 |
24,529 | 7,517 | 3,002 | 2,113 | 1,664 | 125 | |
66B |
840 | - | 1,900 | - | - | - | |
9903 |
100,014 | 97,119 | 176,550 | 42,356 | 63,667 | 29,900 | |
67/77 |
26,140 | 22,701 | 54,525 | 14,788 | 18,655 | 9,214 | |
9904 |
73,874 | 74,418 | 122,025 | 27,568 | 45,012 | 20,686 | |
9905 |
73,874 | 74,418 | 122,025 | 27,568 | 45,012 | 20,686 | |
| Appropriation of the result | |||||||
9906 |
75,083 | 75,209 | 122,291 | 27,766 | 45,198 | 20,686 | |
14P |
1,209 | 791 | 266 | 198 | 186 | - | |
791/2 |
65,500 | - | - | - | - | - | |
691/2 |
73,500 | 74,000 | 121,500 | 27,500 | 45,000 | 20,500 | |
6921 |
73,500 | 74,000 | 121,500 | 27,500 | 45,000 | 20,500 | |
694/7 |
65,500 | - | - | - | - | - | |
694 |
65,500 | - | - | - | - | - | |
| Social balance sheet | |||||||
9087 |
3.2 | 2.1 | 0.7 | 0.6 | 0.3 | - | |
Hours worked1013 |
4,734 | 3,318 | 878 | 684 | 706 | - | |
| Document | |||||||
The notes to these accounts have 19 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 27-07-2026.
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 | abbreviated format | 27-07-2026 | 2026-00334060 | |
| 31-12-2024 | full format | 17-07-2025 | 2025-00288366 | |
| 31-12-2023 | full format | 26-07-2024 | 2024-00287886 | |
| 31-12-2022 | full format | 27-07-2023 | 2023-00299857 | |
| 31-12-2021 | full format | 01-07-2022 | 2022-20122955 | |
| 31-12-2020 | full format | 06-07-2021 | 2021-31400525 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| 174,796 | 159,566 | 214,459 | 70,907 | 80,167 | 34,424 | ||
| 127,157 | 130,824 | 158,962 | 56,537 | 61,261 | 25,502 | ||
| 111,204 | 525,924 | 19,469 | 11,247 | 78,547 | 18,898 | ||
| -40,120 | 98,291 | 158,896 | -1,326 | -4,685 | - | ||
| 196,018 | 179,463 | 184,300 | 58,055 | 19,859 | 12,816 | ||
| 34.4% | 34.4% | 72.4% | 49.3% | 47.7% | 48.1% | ||
| 2.23 | 2.05 | 3.43 | 1.65 | 1.34 | 1.39 | ||
| 2.15 | 1.94 | 3.33 | 1.25 | 1.17 | 1.27 | ||
| 1.91 | 1.90 | 0.38 | 1.03 | 1.09 | 1.08 | ||
| 23.0% | 24.8% | 54.2% | 26.7% | 59.5% | 67.4% | ||
| 7.9% | 8.5% | 39.2% | 13.2% | 28.4% | 32.4% | ||
| 7.13 | 21.23 | 71.43 | 33.56 | 48.16 | - |
EBIT margin: not included in this filing.
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.
Social balance sheet
| Item | 31-12-2025 | 31-12-2024 | 31-12-2023 | 31-12-2022 | 31-12-2021 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 2 | 3 | - | 2 | - |
| full-time | 1 | 2 | - | 2 | - |
| part-time | 1 | 1 | - | - | - |
| in full-time equivalents | 1.8 | 2.5 | - | 2 | - |
| 3.2 | 2.1 | 0.7 | 0.6 | 0.3 | |
| On a permanent contract | 1 | 1 | - | - | - |
| Joined | 5 | 4 | 2 | 4 | 1 |
| Left | 6 | 1 | 4 | 2 | 1 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Securities and guarantees
on own assets and for others| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Mortgages, amount registered | €470,000 | €470,000 | - | - | - |
| Carrying value of the mortgaged assets | €475,474 | €453,386 | - | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €111,204 | €522,654 | €19,469 | €11,247 | €78,329 |
| Intangible fixed assets | - | €3,270 | - | - | - |
| Financial fixed assets | - | - | - | - | €218 |
| €53,282 | €56,406 | €36,937 | €28,969 | €16,249 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Insights on MDelec
The operating result for 2025 is 18% higher than in 2024. It is a recovery after the fall in 2024.
Debt's share of the balance-sheet total stays at 65.6%.