MDK
ActiveSummary
MDK has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €64k and a net result of €92k. Equity is shrinking by ~5% per year across the filed fiscal years. Its solvency ranks better than 76% of 9234 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+2
Solvency91▲+10
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €5k at 30 days acceptable
Liquidity short (current ratio 0.36 against 1.39 in 2024; short-term debt: 33.8% and cash: 4.9% of total assets), and 33.8% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← 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
66.2%
Return on assets
94.6%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 17-08-2026, 17 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
17 d late
2024
38 d early
2023
2 d late
2022
25 d early
2021
31 d early
2020
12 d early
2019
3 d early
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€64k▼ 45.3%
2024 · €117k
2018: €58klowest in 8 years
2019: €119k▲ +107% vs 2018
2020: €185k▲ +54.9% vs 2019
2021: €255k▲ +37.8% vs 2020highest in 8 years
2022: €153k▼ -39.9% vs 2021
2023: €149k▼ -2.8% vs 2022
2024: €117k▼ -21.2% vs 2023
2025: €64k▼ -45.3% vs 2024
2018 → 2025
Total assets
€97k▼ 53.4%
2024 · €208k
2018: €106k
2019: €181k▲ +69.6% vs 2018
2020: €228k▲ +26.2% vs 2019
2021: €300k▲ +31.6% vs 2020highest in 8 years
2022: €192k▼ -36.1% vs 2021
2023: €167k▼ -12.7% vs 2022
2024: €208k▲ +24.4% vs 2023
2025: €97k▼ -53.4% vs 2024lowest in 8 years
2018 → 2025
Net result
€92k▲ 89.3%
2024 · €48k
2018: €23k
2019: €67k▲ +190% vs 2018
2020: €65k▼ -1.9% vs 2019
2021: €70k▲ +6.7% vs 2020
2022: €49k▼ -30.5% vs 2021
2023: €-4k▼ -109% vs 2022lowest in 8 years
2024: €48k▲ +1238% vs 2023
2025: €92k▲ +89.3% vs 2024highest in 8 years
2018 → 2025
Working capital
€-21k
2024 · €35k
2018: €6k
2019: €71k▲ +1099% vs 2018
2020: €98k▲ +38.5% vs 2019
2021: €174k▲ +77.6% vs 2020highest in 8 years
2022: €79k▼ -54.5% vs 2021
2023: €81k▲ +1.6% vs 2022
2024: €35k▼ -56.1% vs 2023
2025: €-21k▼ -160% vs 2024lowest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€255k-€153k▼ 39.9%€149k▼ 2.8%€117k▼ 21.2%€64k▼ 45.3%
2021: €255khighest in 5 years
2022: €153k▼ -39.9% vs 2021
2023: €149k▼ -2.8% vs 2022
2024: €117k▼ -21.2% vs 2023
2025: €64k▼ -45.3% vs 2024lowest in 5 years
Operating result€98k-€68k▼ 30.3%€-3k€68k€124k▲ 81.1%
2021: €98k
2022: €68k▼ -30.3% vs 2021
2023: €-3k▼ -104% vs 2022lowest in 5 years
2024: €68k▲ +2460% vs 2023
2025: €124k▲ +81.1% vs 2024highest in 5 years
Net result€70k-€49k▼ 30.5%€-4k€48k€92k▲ 89.3%
2021: €70k
2022: €49k▼ -30.5% vs 2021
2023: €-4k▼ -109% vs 2022lowest in 5 years
2024: €48k▲ +1238% vs 2023
2025: €92k▲ +89.3% vs 2024highest in 5 years
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 81% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €97k
Fixed assets
€85k ▲ 3.9%
Current assets
€12k ▼ 90.7%
Equity and liabilities €97k
Equity
€64k ▼ 45.3%
Debt
€33k ▼ 63.9%
Debt's share of the balance-sheet total falls from 43.7% to 33.8%. Equity and debt are lower.
Key figures and ratios
EBITDA
€140k▲
2024 · €75k
Cash flow
€107k▲
2024 · €55k
Current ratio
0.36▼
2024 · 1.39
Debt to equity
0.51▼
2024 · 0.78
ROE
142.9%▲
2024 · 41.3%
ROA
94.6%▲
2024 · 23.3%
Interest coverage
2318.77▲
2024 · 110.90
Debt ≤ 1 year
€33k▼
2024 · €91k
Income taxes
€32k▲
2024 · €19k
Staff costs
€51k▲
2024 · €49k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 50 lines
Balance sheet
Code20242025
Assets
Total assets20/58€208k€97k▼
Fixed assets21/28€82k€85k▲
Tangible fixed assets22/27€42k€45k▲
Plant, machinery and equipment23€0-
Furniture and vehicles24€20k€27k▲
Other tangible fixed assets26€22k€18k▼
Financial fixed assets28€40k€40k=
Current assets29/58€126k€12k▼
Amounts receivable within one year40/41€5k€2k▼
Trade receivables40€3k€0▼
Other amounts receivable41€2k€2k▼
Cash at bank and in hand54/58€117k€5k▼
Deferred charges and accrued income490/1€4k€5k▲
Equity and liabilities
Total equity and liabilities10/49€208k€97k▼
Equity10/15€117k€64k▼
Contributions10/11€13k€13k=
Reserves13€105k€52k▼
Distributable reserves133€105k€52k▼
Profit (loss) carried forward14€0€0=
Amounts payable17/49€91k€33k▼
Amounts payable within one year42/48€91k€33k▼
Trade debts44€867€766▼
Suppliers440/4€867€766▼
Taxes, remuneration and social security45€10k€27k▲
Taxes450/3€5k€22k▲
Remuneration and social security454/9€5k€5k▲
Other amounts payable47/48€80k€5k▼
Accrued charges and deferred income492/3€28€0▼
Income statement
Code20242025
Non-recurring operating income76A€0-
Remuneration, social security and pensions62€49k€51k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€7k€16k▲
Other operating charges640/8€2k€2k▲
Non-recurring operating charges66A-€5k
Gross operating margin9900€127k€197k▲
Operating profit (loss)9901€68k€124k▲
Financial income75/76B€94€0▼
Recurring financial income75€94€0▼
Financial charges65/66B€680€60▼
Recurring financial charges65€680€60▼
Profit (loss) for the period before taxes9903€68k€124k▲
Income taxes67/77€19k€32k▲
Profit (loss) for the period9904€48k€92k▲
Profit (loss) for the period to be appropriated9905€48k€92k▲
Appropriation of the result
Profit (loss) to be appropriated9906€48k€92k▲
Transfer from equity791/2€32k€105k▲
Transfer to equity691/2-€52k
To other reserves6921-€52k
Profit to be distributed694/7€80k€145k▲
Return on contributions (dividend)694€80k€145k▲
Social balance
Average headcount (FTE)90870.40.4=
The notes to these accounts (14 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €4k | €1k | €0 | - | - |
| Remuneration, social security and pensions62 | €47k | €45k | €49k | €49k | €51k | ▲ 3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9k | €6k | €7k | €7k | €16k | ▲ 124% |
| Other operating charges640/8 | €1k | €2k | €3k | €2k | €2k | ▲ 6.1% |
| Non-recurring operating charges66A | - | - | - | - | €5k | - |
| Gross operating margin9900 | €155k | €122k | €56k | €127k | €197k | ▲ 55.8% |
| Operating profit (loss)9901 | €98k | €68k | €-3k | €68k | €124k | ▲ 81.1% |
| Financial income75/76B | €341 | €453 | €684 | €94 | €0 | ▼ 100% |
| Recurring financial income75 | €341 | €453 | €684 | €94 | €0 | ▼ 100% |
| Financial charges65/66B | €457 | €853 | €934 | €680 | €60 | ▼ 91.1% |
| Recurring financial charges65 | €457 | €853 | €934 | €680 | €60 | ▼ 91.1% |
| Profit (loss) for the period before taxes9903 | €98k | €68k | €-3k | €68k | €124k | ▲ 82.5% |
| Income taxes67/77 | €28k | €19k | €1k | €19k | €32k | ▲ 65.8% |
| Profit (loss) for the period9904 | €70k | €49k | €-4k | €48k | €92k | ▲ 89.3% |
| Profit (loss) for the period to be appropriated9905 | €70k | €49k | €-4k | €48k | €92k | ▲ 89.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €300k | €192k | €167k | €208k | €97k | ▼ 53.4% |
| Fixed assets21/28 | €83k | €74k | €68k | €82k | €85k | ▲ 3.9% |
| Tangible fixed assets22/27 | €43k | €34k | €28k | €42k | €45k | ▲ 7.7% |
| Plant, machinery and equipment23 | €408 | €132 | €66 | €0 | - | - |
| Furniture and vehicles24 | €13k | €7k | €7k | €20k | €27k | ▲ 34.7% |
| Other tangible fixed assets26 | €29k | €26k | €22k | €22k | €18k | ▼ 17.5% |
| Financial fixed assets28 | €40k | €40k | €40k | €40k | €40k | = |
| Current assets29/58 | €217k | €118k | €99k | €126k | €12k | ▼ 90.7% |
| Amounts receivable within one year40/41 | €54k | €29k | €32k | €5k | €2k | ▼ 64.9% |
| Trade receivables40 | €17k | - | €19k | €3k | €0 | ▼ 100% |
| Other amounts receivable41 | €37k | €29k | €14k | €2k | €2k | ▼ 9.5% |
| Cash at bank and in hand54/58 | €159k | €83k | €61k | €117k | €5k | ▼ 95.9% |
| Deferred charges and accrued income490/1 | €5k | €6k | €5k | €4k | €5k | ▲ 37.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €300k | €192k | €167k | €208k | €97k | ▼ 53.4% |
| Equity10/15 | €255k | €153k | €149k | €117k | €64k | ▼ 45.3% |
| Contributions10/11 | €13k | €13k | €13k | €13k | €13k | = |
| Reserves13 | €242k | €141k | €136k | €105k | €52k | ▼ 50.7% |
| Non-distributable reserves130/1 | €2k | €2k | €0 | - | - | - |
| Reserves not available under the articles1311 | €2k | €2k | €0 | - | - | - |
| Distributable reserves133 | €240k | €139k | €136k | €105k | €52k | ▼ 50.7% |
| Profit (loss) carried forward14 | - | - | €0 | €0 | €0 | - |
| Amounts payable17/49 | €45k | €39k | €18k | €91k | €33k | ▼ 63.9% |
| Amounts payable after more than one year17 | €2k | - | - | - | - | - |
| Other amounts payable178/9 | €2k | - | - | - | - | - |
| Amounts payable within one year42/48 | €43k | €39k | €18k | €91k | €33k | ▼ 63.9% |
| Current portion of amounts payable after more than one year42 | €30k | €23k | €0 | - | - | - |
| Trade debts44 | €6k | €8k | €9k | €867 | €766 | ▼ 11.6% |
| Suppliers440/4 | €6k | €8k | €9k | €867 | €766 | ▼ 11.6% |
| Taxes, remuneration and social security45 | €6k | €7k | €9k | €10k | €27k | ▲ 173% |
| Taxes450/3 | - | €25 | €2k | €5k | €22k | ▲ 328% |
| Remuneration and social security454/9 | €6k | €6k | €7k | €5k | €5k | ▲ 3.6% |
| Other amounts payable47/48 | €1k | €1k | €0 | €80k | €5k | ▼ 94.2% |
| Accrued charges and deferred income492/3 | - | €49 | €49 | €28 | €0 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €70k | €49k | €-4k | €48k | €92k | ▲ 89.3% |
| + Depreciation and write-downs630 | €9k | €6k | €7k | €7k | €16k | ▲ 124% |
| Operating cash flow (approximation) | €79k | €55k | €3k | €55k | €107k | ▲ 93.7% |
| Investment in fixed assets (approximation) | - | €2k | €-2k | €-21k | €-19k | ▲ 8.2% |
| Change in cash | - | €-75k | €-22k | €56k | €-113k | ▼ 300% |
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
17-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 17 days late
2025
31-12
Financial
Highest result since 2018net €92k ▲89.3%
Operating result €124k, net result €92k, both a record.
23-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Back to profitnet €48k
Net result €48k after one loss-making year.
02-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 2 days late
2023
31-12
Financial
Weakest financial yearnet €-4k
Net result drops to €-4k, the lowest in the series; recovery starts the following year.
06-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Equity above €200kEq €255k ▲37.8%
4 profitable years in a row build equity to €255k.
19-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Equity above €150kEq €185k ▲54.9%
3 profitable years in a row build equity to €185k.
28-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Show earlier events
2019
31-12
Financial
Equity above €100kEq €119k ▲107%
2 profitable years in a row build equity to €119k.
25-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
08-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 8 days late
2017
04-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 4 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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
7 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, Mortsel · 1 establishment unit since 2007
Ground area
367 m²
Building footprint
74 m²
Volume, LiDAR
443 m³
Parcel 11513C0129/00B007, Flanders · tallest building 6.6 m, ±2 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
-
since 20072.162.345.774
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11513C0129/00B007 | Flanders | 367 m² | 1 · 74 m² | 6.6 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.
Recognitions · licences · registrations
Legal Entity Identifier
549300NOFKZ8YHHJ6742
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Of 11,748 companies in sector 68310 we hold annual accounts for 6,905. 5,024 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
Founded12-04-2007
Fiscal year end31-12
Activities, NACEBEL 2025
46190Agents in non-specialised wholesale trade
68310Real estate agency activities
68110Buying and selling of own real estate
Scores and ratios are computed by Checked and are not a credit decision.