MDLE
ActiveSummary
MDLE has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-409k) and a net result of €-73k. Equity is shrinking by ~28.8% per year across the filed fiscal years. Its solvency ranks better than 9% of 14128 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability13▲+1
Solvency0▼-1
Growth58=
Track record94
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.0 against 0.0 in 2024; short-term debt: 74.8% and cash: 0% of total assets), and equity is negative.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+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
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 →
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
-28.4%
Return on assets
-5.1%
Age of the figures
9 mo
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
2122232425
2021 to 2025 · latest year €-409k
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 20-08-2026, 20 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 · 5 filingsDeviation from the deadline
2025
20 d late
2024
1 d early
2023
56 d late
2022
24 d early
2021
24 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, micro schema
Equity
€-409k▼ 21.8%
2024 · €-336k
2021: €-120khighest in 5 years
2022: €-174k▼ -44.8% vs 2021
2023: €-258k▼ -48.1% vs 2022
2024: €-336k▼ -30.1% vs 2023
2025: €-409k▼ -21.8% vs 2024lowest in 5 years
2021 → 2025
Total assets
€1.44M▲ 4.0%
2024 · €1.39M
2021: €1.43M
2022: €1.39M▼ -3.0% vs 2021
2023: €1.41M▲ +1.3% vs 2022
2024: €1.39M▼ -1.4% vs 2023lowest in 5 years
2025: €1.44M▲ +4.0% vs 2024highest in 5 years
2021 → 2025
Net result
€-73k▲ 5.8%
2024 · €-78k
2021: €-130klowest in 5 years
2022: €-54k▲ +58.6% vs 2021highest in 5 years
2023: €-84k▼ -55.3% vs 2022
2024: €-78k▲ +7.3% vs 2023
2025: €-73k▲ +5.8% vs 2024
2021 → 2025
Working capital
€-1.07M▼ 23.1%
2024 · €-873k
2021: €-444khighest in 5 years
2022: €-547k▼ -23.2% vs 2021
2023: €-731k▼ -33.6% vs 2022
2024: €-873k▼ -19.4% vs 2023
2025: €-1.07M▼ -23.1% vs 2024lowest in 5 years
2021 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€-120k-€-174k▼ 44.8%€-258k▼ 48.1%€-336k▼ 30.1%€-409k▼ 21.8%
2021: €-120khighest in 5 years
2022: €-174k▼ -44.8% vs 2021
2023: €-258k▼ -48.1% vs 2022
2024: €-336k▼ -30.1% vs 2023
2025: €-409k▼ -21.8% vs 2024lowest in 5 years
Operating result€-113k-€-33k▲ 71.1%€-29k▲ 10.9%€-19k▲ 34.9%€-18k▲ 4.7%
2021: €-113klowest in 5 years
2022: €-33k▲ +71.1% vs 2021
2023: €-29k▲ +10.9% vs 2022
2024: €-19k▲ +34.9% vs 2023
2025: €-18k▲ +4.7% vs 2024highest in 5 years
Net result€-130k-€-54k▲ 58.6%€-84k▼ 55.3%€-78k▲ 7.3%€-73k▲ 5.8%
2021: €-130klowest in 5 years
2022: €-54k▲ +58.6% vs 2021highest in 5 years
2023: €-84k▼ -55.3% vs 2022
2024: €-78k▲ +7.3% vs 2023
2025: €-73k▲ +5.8% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €18k in 2025 against €19k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.44M
Fixed assets
€1.44M ▲ 3.9%
Current assets
€5k ▲ 45.1%
Key figures and ratios
EBITDA
€2k▲
2024 · €158
Cash flow
€-54k▲
2024 · €-59k
Solvency
-28.4%▼
2024 · -24.2%
Current ratio
0.00▲
2024 · 0.00
Debt to equity
-4.53▲
2024 · -5.13
ROA
-5.1%▲
2024 · -5.6%
Interest coverage
0.03▲
2024 · 0.00
Debt
€1.85M▲
2024 · €1.72M
Debt ≤ 1 year
€1.08M▲
2024 · €876k
Debt > 1 year
€764k▼
2024 · €847k
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 · 34 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.39M€1.44M▲
Formation expenses20€303€20▼
Fixed assets21/28€1.38M€1.44M▲
Tangible fixed assets22/27€1.38M€1.44M▲
Land and buildings22€1.38M€1.44M▲
Current assets29/58€3k€5k▲
Amounts receivable within one year40/41€3k€3k▲
Other amounts receivable41€3k€3k▲
Cash at bank and in hand54/58€12€74▲
Deferred charges and accrued income490/1€375€2k▲
Equity and liabilities
Total equity and liabilities10/49€1.39M€1.44M▲
Equity10/15€-336k€-409k▼
Contributions10/11€10k€10k=
Profit (loss) carried forward14€-346k€-419k▼
Amounts payable17/49€1.72M€1.85M▲
Amounts payable after more than one year17€847k€764k▼
Financial debts170/4€847k€764k▼
Amounts payable within one year42/48€876k€1.08M▲
Current portion of amounts payable after more than one year42€83k€104k▲
Trade debts44€13k€31k▲
Suppliers440/4€13k€31k▲
Other amounts payable47/48€780k€944k▲
Accrued charges and deferred income492/3-€9k
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€19k€19k▲
Other operating charges640/8€3k€4k▲
Gross operating margin9900€3k€5k▲
Operating profit (loss)9901€-19k€-18k▲
Financial charges65/66B€59k€55k▼
Recurring financial charges65€59k€55k▼
Profit (loss) for the period before taxes9903€-78k€-73k▲
Profit (loss) for the period9904€-78k€-73k▲
Profit (loss) for the period to be appropriated9905€-78k€-73k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-346k€-419k▼
Profit (loss) brought forward from the previous period14P€-268k€-346k▼
The notes to these accounts (6 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €110k | €34k | €18k | €19k | €19k | ▲ 2.4% |
| Other operating charges640/8 | €1k | €2k | €2k | €3k | €4k | ▲ 45.7% |
| Gross operating margin9900 | €-1k | €4k | €-9k | €3k | €5k | ▲ 93.7% |
| Operating profit (loss)9901 | €-113k | €-33k | €-29k | €-19k | €-18k | ▲ 4.7% |
| Financial charges65/66B | €18k | €21k | €55k | €59k | €55k | ▼ 6.1% |
| Recurring financial charges65 | €18k | €21k | €55k | €59k | €55k | ▼ 6.1% |
| Profit (loss) for the period before taxes9903 | €-130k | €-54k | €-84k | €-78k | €-73k | ▲ 5.8% |
| Profit (loss) for the period9904 | €-130k | €-54k | €-84k | €-78k | €-73k | ▲ 5.8% |
| Profit (loss) for the period to be appropriated9905 | €-130k | €-54k | €-84k | €-78k | €-73k | ▲ 5.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.43M | €1.39M | €1.41M | €1.39M | €1.44M | ▲ 4.0% |
| Formation expenses20 | €1k | €871 | €587 | €303 | €20 | ▼ 93.6% |
| Fixed assets21/28 | €1.42M | €1.39M | €1.40M | €1.38M | €1.44M | ▲ 3.9% |
| Tangible fixed assets22/27 | €1.42M | €1.39M | €1.40M | €1.38M | €1.44M | ▲ 3.9% |
| Land and buildings22 | €1.42M | €1.39M | €1.40M | €1.38M | €1.44M | ▲ 3.9% |
| Current assets29/58 | €11k | €3k | €4k | €3k | €5k | ▲ 45.1% |
| Amounts receivable within one year40/41 | €2k | €2k | €3k | €3k | €3k | ▲ 9.5% |
| Other amounts receivable41 | €2k | €2k | €3k | €3k | €3k | ▲ 9.5% |
| Cash at bank and in hand54/58 | €9k | €391 | €772 | €12 | €74 | ▲ 503% |
| Deferred charges and accrued income490/1 | - | - | €362 | €375 | €2k | ▲ 300% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.43M | €1.39M | €1.41M | €1.39M | €1.44M | ▲ 4.0% |
| Equity10/15 | €-120k | €-174k | €-258k | €-336k | €-409k | ▼ 21.8% |
| Contributions10/11 | €10k | €10k | €10k | €10k | €10k | = |
| Profit (loss) carried forward14 | €-130k | €-184k | €-268k | €-346k | €-419k | ▼ 21.2% |
| Amounts payable17/49 | €1.55M | €1.56M | €1.67M | €1.72M | €1.85M | ▲ 7.5% |
| Amounts payable after more than one year17 | €1.10M | €1.01M | €931k | €847k | €764k | ▼ 9.8% |
| Financial debts170/4 | €1.10M | €1.01M | €931k | €847k | €764k | ▼ 9.8% |
| Amounts payable within one year42/48 | €455k | €550k | €735k | €876k | €1.08M | ▲ 23.2% |
| Current portion of amounts payable after more than one year42 | €83k | €83k | €83k | €83k | €104k | ▲ 24.8% |
| Trade debts44 | - | €2k | €10k | €13k | €31k | ▲ 139% |
| Suppliers440/4 | - | €2k | €10k | €13k | €31k | ▲ 139% |
| Other amounts payable47/48 | €372k | €464k | €642k | €780k | €944k | ▲ 21.1% |
| Accrued charges and deferred income492/3 | - | - | - | - | €9k | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-130k | €-54k | €-84k | €-78k | €-73k | ▲ 5.8% |
| + Depreciation and write-downs630 | €110k | €34k | €18k | €19k | €19k | ▲ 2.4% |
| Operating cash flow (approximation) | €-20k | €-20k | €-66k | €-59k | €-54k | ▲ 8.5% |
| Investment in fixed assets (approximation) | - | €-284 | €-35k | €-284 | €-74k | ▼ 25,822% |
| Change in cash | - | €-8k | €381 | €-760 | €61 | ▲ 108% |
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
20-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 20 days late
2025
30-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
25-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 56 days late
2023
07-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
07-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
NBB filing
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Waregem · 1 establishment unit since 2021
Ground area
1,955 m²
Building footprint
213 m²
Volume, LiDAR
2,195 m³
Parcel 34040C1305/00C000, Flanders · tallest building 12.3 m, ±3 floors. Linked by address, not a title deed.
10
companies at this address
See who is registered here
1 establishment unit
MDLE
since 20212.313.144.845
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34040C1305/00C000 | Flanders | 1,955 m² | 1 · 213 m² | 12.3 m · 3 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.
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 9,693 companies in sector 68121 we hold annual accounts for 7,385. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded27-01-2021
Fiscal year end31-12
Activities, NACEBEL 2025
68121Development of residential building projects
68122Development of non-residential building projects
68201Renting and operating of own or leased residential real estate, excluding social housing
68203Renting and operating of own or leased non-residential real estate, excluding land
Scores and ratios are computed by Checked and are not a credit decision.