MDG
ActiveMDG has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €444k and a net result of €141k. Equity is growing by ~7.6% per year across the filed fiscal years. Its solvency ranks better than 94% of 7293 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
100
/ 100
Excellent▲ +6 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability100▲+59
Solvency100=
Growth78=
Stability100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €45k at 30 days acceptable
Liquidity ample (current ratio 9.69 against 4.93 in 2024), and 10.5% of the assets are financed with debt.
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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 41
Relative position
BE, all sectors
reference
Sector 41
higher
← 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
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
89.5%
Return on assets
28.3%
Age of the figures
8 mo
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 02-07-2026, 29 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
29 d early
2024
on the day
2023
26 d early
2022
31 d late
2021
26 d late
2020
31 d late
2019
56 d late
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
12-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€141k▲ 466%
2024 · €25k
2018: €24k
2019: €28k
2020: €33k
2021: €21k
2022: €-837
2023: €10k
2024: €25k
2018 → 2025
Working capital
€444k▲ 120%
2024 · €202k
2018: €50k
2019: €75k
2020: €107k
2021: €129k
2022: €168k
2023: €178k
2024: €202k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€270k-€269k▼ 0.3%€279k▲ 3.8%€304k▲ 8.9%€444k▲ 46.3%
Operating result€40k-€43k▲ 6.8%€22k▼ 47.9%€39k▲ 73.0%€50k▲ 28.7%
Net result€21k-€-837€10k€25k▲ 146%€141k▲ 466%
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 29% above 2024 and is the highest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €497k
Fixed assets
€2k▼ 98.1%
Current assets
€495k▲ 95.4%
Equity and liabilities €497k
Equity
€444k▲ 46.3%
Debt
€52k▲ 0.7%
The debt ratio falls from 14.6% to 10.5%: equity grows faster than debt.
Key figures and ratios
EBITDA
€50k▲
2024 · €39k
Cash flow
€141k▲
2024 · €25k
Solvency
89.5%▲
2024 · 85.4%
Current ratio
9.69▲
2024 · 4.93
Quick ratio
9.69▲
2024 · 4.93
Debt / equity
0.12▼
2024 · 0.17
ROE
31.6%▲
2024 · 8.2%
ROA
28.3%▲
2024 · 7.0%
Interest coverage
127.01▲
2024 · 37.48
Debt
€52k▲
2024 · €52k
Debt ≤ 1 year
€51k▼
2024 · €51k
Income taxes
€29k▲
2024 · €13k
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 · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€356k€497k▲
Fixed assets21/28€103k€2k▼
Tangible fixed assets22/27€1k€794▼
Furniture and vehicles24€1k€794▼
Financial fixed assets28€101k€1k▼
Current assets29/58€253k€495k▲
Amounts receivable within one year40/41€16k€16k▼
Trade receivables40€11k€11k▼
Other amounts receivable41€4k€4k▼
Current investments50/53-€406k
Cash at bank and in hand54/58€232k€68k▼
Deferred charges and accrued income490/1€5k€5k▲
Equity and liabilities
Total equity and liabilities10/49€356k€497k▲
Equity10/15€304k€444k▲
Contributions10/11€19k€19k=
Reserves13€256k€396k▲
Tax-exempt reserves132€8k€8k=
Distributable reserves133€247k€388k▲
Profit (loss) carried forward14€30k€30k=
Amounts payable17/49€52k€52k▲
Amounts payable within one year42/48€51k€51k▼
Financial debts43€4k€5k▲
Credit institutions430/8€4k€5k▲
Trade debts44€2k€2k▼
Suppliers440/4€2k€2k▼
Taxes, remuneration and social security45€8k€18k▲
Taxes450/3€8k€18k▲
Remuneration and social security454/9€0-
Other amounts payable47/48€37k€26k▼
Accrued charges and deferred income492/3€583€1k▲
Income statement
Code20242025
Non-recurring operating income76A-€985
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€550€550=
Other operating charges640/8€21k€996▼
Gross operating margin9900€61k€51k▼
Operating profit (loss)9901€39k€50k▲
Financial income75/76B€723€121k▲
Recurring financial income75€723€121k▲
Financial charges65/66B€1k€396▼
Recurring financial charges65€1k€396▼
Profit (loss) for the period before taxes9903€38k€170k▲
Income taxes67/77€13k€29k▲
Profit (loss) for the period9904€25k€141k▲
Profit (loss) for the period to be appropriated9905€25k€141k▲
Appropriation of the result
Profit (loss) to be appropriated9906€54k€170k▲
Profit (loss) brought forward from the previous period14P€30k€30k=
Transfer to equity691/2€25k€141k▲
To other reserves6921€25k€141k▲
Social balance
Average headcount (FTE)90870.0-
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
02-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2018net €141k ▲466%
Net result €141k, the highest in the series.
31-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
05-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Back to profitnet €10k
Net result €10k after one loss-making year.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 31 days late
2022
31-12
Financial
Weakest financial yearnet €-837 ▼104%
Net result drops to €-837, the lowest in the series; recovery starts the following year.
26-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 26 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
25-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 56 days late
2019
31-12
Financial
Equity above €200kEq €219k ▲14.5%
2 profitable years in a row build equity to €219k.
26-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 26 days late
2018
16-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
25-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 25 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Waterloo · 1 establishment unit since 2000
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.
Chaussée de Mont-St-Jean 3151410 Waterloo1 establishment unit
Chaussée de Mont-St-Jean 315, 1410 Waterloo
since 20002.093.723.422
Similar companies · same sector, comparable size
DuFam
BE 0821.747.574
Gent · Eq €444k
Bouwwerken Versnel
BE 0407.189.370
Wijnegem · Eq €444k
Van Eenooghe
BE 0885.605.545
Aalter · Eq €444k
Van Houtven
BE 0450.441.967
Laakdal · Eq €445k
OAK WOOD PROJECTS
BE 0840.117.394
Waregem · Eq €444k
Of 29,531 companies in sector 41001 we hold annual accounts for 15,863. 9,592 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded09-12-1999
Fiscal year end31-12
Activities, NACEBEL
41001General construction of residential buildings
45211
43230Insulation installation
43291Specialised construction activities
43320Joinery installation
43331Floor and wall tiling
43341Painting of buildings
43410Roofing work
45220
45421
45441
Sources
Crossroads Bank for EnterprisesNational Bank · 26 filings
Data from official sources, last processed on 11-09-2026. Scores and ratios are computed by Checked and are not a credit decision.