MDH CONSTRUCT (0810.811.023): financials and annual accounts

Annual accounts 2025

micro format, filed on 24-06-2026, 37 days before the deadline

€312,609

▲ 12.9%

-€12,515

▼ €17,538

-

62.0%

▼ 27.9 percentage points

2.63

▼ 7.47

Money flows

no detail for 2025

Balance sheet

balance sheet total €384,806 on 31-12-2025

What the company ownsHow it is paid for

in euro

Position in the sector

Compare with sector

62.0%

Higher than 70% of 9,471 companies in 2025.

2.63

Higher than 70% of 9,219 companies in 2025.

0.0%

Higher than 25% of 9,291 companies in 2025.

MDH CONSTRUCT Middle half of the sector 80% of the sector Micro accounts in construction of buildings (NACE 41)

Net result: middle half · Equity: top quarter · Balance sheet total: top quarter · Working capital: top quarter

Staff

€53,009

Staff costs divided by the average number of full-time equivalents.

+1 person

people who joined people who left

In 2025, 3 people joined and 2 left.

Filed annual accounts

as filed with the National Bank, click a year to choose it

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009
Balance sheet: assets
`20/58`	384,806	265,386	232,479	239,938	238,994	360,408	366,093	486,912	611,750	435,993	446,367	464,418	266,257	531,815	297,764	418,222	180,763
`21/28`	0	0	0	4,926	11,032	18,084	22,669	222,557	247,170	181,259	195,044	249,121	96,230	123,306	99,280	89,192	61,357
`22/27`	0	0	0	4,490	10,596	17,648	22,233	221,377	245,990	180,823	194,108	247,877	95,730	122,562	98,536	89,192	61,357
`23`	-	0	0	0	0	547	3,335	110,949	10,147	12,641	28,380	39,686	94,968	101,493	67,232	71,512	61,357
`24`	0	0	0	4,490	10,596	17,101	18,898	-	104,100	128,125	165,728	208,191	762	21,069	31,304	17,680	-
`28`	-	-	0	436	436	436	436	1,180	1,180	436	936	1,244	500	744	744	-	-
`29/58`	384,806	265,386	232,479	235,012	227,962	342,324	343,424	264,355	364,580	254,734	251,323	215,297	170,027	408,509	198,484	329,030	119,406
`29`	303,966	163,001	150,899	159,769	159,769	229,769	116,918	-	-	-	-	-	-	-	-	-	-
`290`	303,966	163,001	150,899	159,769	159,769	229,769	116,918	-	-	-	-	-	-	-	-	-	-
`3`	-	-	-	-	-	-	-	-	-	18,544	-	78,186	78,186	266,674	75,746	193,437	-
`30/36`	-	-	-	-	-	-	-	-	-	-	-	78,186	78,186	79,646	75,746	-	-
`37`	-	-	-	-	-	-	-	-	-	18,544	-	-	-	187,028	-	193,437	-
`40/41`	76,789	93,482	67,594	48,592	54,567	94,839	216,879	185,186	136,511	103,701	43,423	51,240	26,018	109,097	18,943	73,192	54,534
`40`	76,440	92,954	65,704	46,120	52,160	90,296	203,642	140,137	74,508	46,973	9,750	16,715	12,456	93,218	14,125	52,851	54,534
`41`	349	528	1,890	2,472	2,407	4,543	13,237	45,049	62,003	56,728	33,673	34,525	13,562	15,879	4,818	20,341	-
`54/58`	3,632	4,019	9,142	18,977	10,194	17,319	9,329	77,768	227,806	131,559	204,319	84,013	63,646	28,495	101,703	61,500	64,832
`490/1`	418	4,884	4,845	7,673	3,432	397	298	1,401	263	930	3,581	1,858	2,177	4,243	2,092	901	40
Balance sheet: equity and liabilities
`10/49`	384,806	265,386	232,479	239,938	238,994	360,408	366,093	486,912	611,750	435,993	446,367	464,418	266,257	531,815	297,764	418,222	180,763
`10/15`	238,741	238,699	223,114	224,133	220,539	210,709	210,844	211,046	243,705	198,929	196,206	177,003	160,661	130,346	64,435	25,301	64,931
`10/11`	20,460	20,460	20,460	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600
`100`	-	-	-	-	-	-	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600
`13`	-	-	0	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860
`130/1`	-	-	0	1,860	1,860	1,860	-	-	-	-	-	-	-	-	-	-	-
`130`	-	-	-	-	-	-	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860
`1311`	-	-	0	1,860	1,860	1,860	-	-	-	-	-	-	-	-	-	-	-
`14`	218,281	218,239	202,654	203,673	200,079	190,249	185,439	182,898	212,995	164,675	158,459	152,956	135,193	103,280	43,975	4,841	44,471
`15`	-	-	-	-	-	0	4,945	7,688	10,250	13,794	17,287	3,587	5,008	6,606	-	-	-
`17/49`	146,065	26,686	9,365	15,805	18,455	149,699	155,248	275,866	368,045	237,064	250,161	287,415	105,596	401,469	233,329	392,921	115,832
`17`	-	-	-	-	0	1,719	1,779	117,780	125,574	94,406	104,473	152,680	19,679	39,200	35,234	44,684	46,802
`170/4`	-	-	-	-	0	1,719	1,779	117,780	125,574	94,406	104,473	152,680	19,679	39,200	35,234	44,684	46,802
`42/48`	146,065	26,256	9,365	15,805	18,455	147,980	153,470	158,086	242,467	142,654	145,682	134,728	85,886	362,254	198,062	348,217	69,001
`42`	-	-	-	0	1,719	8,721	7,065	57,935	66,988	51,021	42,707	57,436	27,908	34,658	23,866	24,582	12,885
`43`	125,000	-	-	-	0	125,000	125,000	199	-	-	-	-	-	-	-	-	-
`430/8`	125,000	-	-	-	0	125,000	125,000	199	-	-	-	-	-	-	-	-	-
`44`	6,830	5,071	312	1,236	1,435	6,154	2,569	36,982	126,770	56,783	78,698	64,800	30,607	69,714	35,030	8,987	19,309
`440/4`	6,830	5,071	312	1,236	1,435	6,154	2,569	36,982	126,770	56,783	78,698	64,800	30,607	69,714	35,030	8,987	19,309
`46`	-	-	-	-	-	-	-	-	-	-	-	-	-	186,190	60,000	257,064	-
`45`	14,196	21,146	9,014	14,531	15,262	8,105	7,590	52,882	48,469	34,507	23,795	12,010	16,964	31,934	25,896	10,525	14,807
`450/3`	365	0	344	0	0	0	9	3,736	14,529	2,133	1,713	1,350	5,092	24,128	1,265	1,543	42
`454/9`	13,831	21,146	8,670	14,531	15,262	8,105	7,581	49,146	33,940	32,374	22,082	10,660	11,872	7,806	24,631	8,982	14,765
`47/48`	39	39	39	39	39	0	11,247	10,089	240	343	482	482	10,407	39,758	53,270	47,059	22,000
`492/3`	0	430	-	-	-	-	-	-	4	4	6	7	31	15	33	20	29
Income statement
`70`	-	-	-	-	-	-	220,374	1.6m	-	-	-	-	-	-	-	-	-
`76A`	-	-	-	-	-	-	-	3,240	-	-	-	-	-	-	-	-	-
`9900`	312,609	276,910	244,473	286,642	276,243	229,580	210,259	647,637	593,033	386,159	215,914	186,182	202,754	344,342	382,323	170,969	205,015
`60/61`	-	-	-	-	-	-	71,511	975,147	-	-	-	-	-	-	-	-	-
`62`	323,357	270,967	238,192	274,593	256,655	217,401	196,740	618,274	466,028	301,552	147,573	95,268	124,922	188,120	230,932	145,324	100,144
`630`	-	-	4,490	6,106	7,052	8,335	11,785	59,551	54,912	53,980	58,365	61,989	35,557	34,128	22,497	15,529	6,738
`640/8`	1,767	920	837	837	645	4,258	10,495	1,880	2,257	4,767	1,254	1,153	1,577	3,686	645	496	507
`66A`	-	-	-	-	-	-	-	-	250	1,876	-	455	-	-	-	-	-
`9901`	-12,515	5,023	954	5,106	11,891	-414	-8,761	-32,068	69,586	23,984	8,722	27,772	40,698	118,408	128,249	9,620	97,626
`75/76B`	15,965	12,102	-	-	-	7,554	14,067	7,562	7,915	10,758	13,330	7,148	5,908	12,257	6,812	5,404	2,530
`75`	15,965	12,102	-	-	-	7,554	14,067	7,562	7,915	10,758	13,330	7,148	5,908	12,257	6,812	5,404	2,530
`65/66B`	3,408	1,540	1,973	1,512	2,062	2,339	2,765	7,772	5,345	27,250	16,375	12,318	8,143	12,461	15,768	7,595	1,879
`65`	3,408	1,540	1,973	1,512	2,062	2,339	2,765	7,772	5,345	27,250	16,375	12,318	8,143	12,461	15,768	7,595	1,879
`9903`	42	15,585	-1,018	3,593	9,830	4,801	2,541	-32,278	72,156	7,492	5,677	22,147	38,463	118,204	119,293	7,429	98,277
`67/77`	-	-	-	-	-	-9	0	-2,182	23,836	1,276	174	4,384	6,550	34,899	35,159	-	29,946
`9904`	42	15,585	-1,018	3,593	9,830	4,810	2,541	-30,096	48,320	6,216	5,503	17,763	31,913	83,305	84,134	7,429	68,331
`9905`	42	15,585	-1,018	3,593	9,830	4,810	2,541	-30,096	48,320	6,216	5,503	17,763	31,913	83,305	84,134	7,429	68,331
Appropriation of the result
`9906`	218,281	218,239	202,654	203,673	200,079	190,249	185,439	182,898	212,995	164,675	158,459	152,956	135,193	127,280	88,975	51,900	68,331
`14P`	218,239	202,654	203,673	200,079	190,249	-	-	-	-	-	-	-	-	-	-	-	-
`691/2`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,860
`691`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
`6920`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,860
`694/7`	-	-	-	-	-	-	-	-	-	-	-	-	-	24,000	45,000	47,059	22,000
`694`	-	-	-	-	-	-	-	-	-	-	-	-	-	24,000	45,000	47,059	22,000
Social balance sheet
`9087`	6.1	4.7	3.9	4.8	4.9	4	3.8	13.9	14.8	8.9	5.1	3.2	4.7	5.5	6.5	5.3	3
Hours worked`1013`	7,440	6,632	5,920	7,152	7,328	6,008	5,672	16,664	16,464	10,672	4,936	3,528	5,024	7,464	9,352	6,136	4,032
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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 24-06-2026.

Download as CSV

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	24-06-2026	2026-00204922	PDF
31-12-2024	micro format	06-05-2025	2025-00090687	PDF
31-12-2023	micro format	07-06-2024	2024-00118654	PDF
31-12-2022	micro format	26-06-2023	2023-00163796	PDF
31-12-2021	micro format	20-07-2022	2022-20226247	PDF
31-12-2020	micro format	29-06-2021	2021-27300130	PDF
31-12-2019	micro format	08-07-2020	2020-28800351	PDF
31-12-2018	full format	02-07-2019	2019-28800315	PDF
31-12-2017	full format	11-07-2018	2018-31800369	PDF
31-12-2016	full format	29-06-2017	2017-24300431	PDF
31-12-2015	full format	29-06-2016	2016-24000013	PDF
31-12-2014	full format	03-07-2015	2015-27400216	PDF
31-12-2013	full format	27-06-2014	2014-22600184	PDF
31-12-2012	full format	28-06-2013	2013-23400162	PDF
31-12-2011	full format	27-06-2012	2012-21800052	PDF
31-12-2010	full format	29-06-2011	2011-23300135	PDF
31-12-2009	full format	05-07-2010	2010-26800550	PDF

Key figures and ratios

per financial year, computed from the annual accounts

2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009
-	-	5,445	11,211	18,944	7,921	3,024	27,483	124,498	77,964	67,087	89,761	76,255	152,536	150,746	25,149	104,364
-	-	3,472	9,699	16,882	13,145	14,326	29,454	103,232	60,196	63,868	79,752	67,470	117,433	106,631	22,958	75,069
-	-	-436	0	0	8,750	-188,103	34,938	120,823	50,071	4,596	214,879	8,724	58,154	32,585	43,364	68,095
-387	-5,123	-9,836	8,784	-7,125	7,990	-68,440	-150,038	96,247	-72,760	120,306	20,367	35,151	-73,208	40,203	-3,332	-
238,741	239,130	223,114	219,206	209,507	194,344	189,954	106,269	122,113	112,080	105,641	80,569	84,141	46,255	422	-19,187	50,405
-	-	-	-	-	-	-4.0%	-2.0%	-	-	-	-	-	-	-	-	-
62.0%	89.9%	96.0%	93.4%	92.3%	58.5%	57.6%	43.3%	39.8%	45.6%	44.0%	38.1%	60.3%	24.5%	21.6%	6.0%	35.9%
2.63	10.11	24.82	14.87	12.35	2.31	2.24	1.67	1.50	1.79	1.73	1.60	1.98	1.13	1.00	0.94	1.73
2.63	10.11	24.82	14.87	12.35	2.31	2.24	1.67	1.50	1.66	1.73	1.02	1.07	0.39	0.62	0.39	1.73
0.61	0.11	0.04	0.07	0.08	0.71	0.74	1.31	1.51	1.19	1.27	1.62	0.66	3.08	3.62	15.53	1.78
0.0%	6.5%	-0.5%	1.6%	4.5%	2.3%	1.2%	-14.3%	19.8%	3.1%	2.8%	10.0%	19.9%	63.9%	130.6%	29.4%	105.2%
0.0%	5.9%	-0.4%	1.5%	4.1%	1.3%	0.7%	-6.2%	7.9%	1.4%	1.2%	3.8%	12.0%	15.7%	28.3%	1.8%	37.8%
-	-	2.76	7.41	9.19	-	-	-	-	-	-	-	-	-	-	-	-
-	-	-	-	-	-	337 days	32 days	-	-	-	-	-	-	-	-	-
-	-	-	-	-	-	13 days	14 days	-	-	-	-	-	-	-	-	-

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	7	6	4	5	5
full-time	7	6	4	5	5
in full-time equivalents	7	6	4	5	5
	6.1	4.7	3.9	4.8	4.9
On a permanent contract	6	6	4	5	4
Joined	3	2	4	4	9
Left	2	0	4	4	7

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
	€125,000	€125,000	€125,000	€125,000	€125,000
Pledge on other assets, amount secured	-	-	-	-	€3,214

Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)

Insights on MDH CONSTRUCT

The operating result for 2025 is a loss of €12,515, after a profit of €5,023 in 2024. It is the lowest result since 2018.

Debt's share of the balance-sheet total rises from 10.1% to 38.0%. Debt is higher.

Annual accounts 2025

Money flows

Balance sheet

Change in equityin euro

Change in cashin euro

Position in the sector

Solvency62.0%

Current ratio2.63

Return on assets0.0%

Staff

Staff cost per FTE€53,009

Joined and left+1 person

Filed annual accounts

Filings

Key figures and ratios

Social balance sheet

Securities and guarantees

Insights on MDH CONSTRUCT

Next steps

in euro

in euro

62.0%

2.63

0.0%

€53,009

+1 person