MDM LINE
InactiveMDM LINE was declared bankrupt on 05-05-2022 (Ondernemingsrechtbank Gent, afdeling Brugge); the bankruptcy was closed by liquidation by judgment of 17-06-2024, published in the Belgian State Gazette on 24-06-2024.
Summary
Inactive; last annual accounts for fiscal year 2019.
Are you a creditor?
Judicial reorganisation
Source: Belgian Official Gazette
Your claim still exists, but while the moratorium runs you cannot enforce it. What you do now depends on the track of the reorganisation.
The procedure
- Court
- Enterprise Court of Ghent
- Opened
- 26 April 2021
- Track
- Reorganisation by collective agreement
- Docket number
- 20210012
- Moratorium until
- 30 June 2021 (passed; an extension would be in a later judgment)
- Creditors' vote
- 28 June 2021
- Delegated judge
- Xavier Vanneste
- Official Gazette
- 30-04-2021 (pdf) ↗search the document for 2021/116380
What to do now
- Do not attach assets or start enforcement for debts from before the opening while the moratorium runs.
- Check the amount the company lists you for: it has to tell you. If it is wrong, dispute it in writing.
- The company files a reorganisation plan and creditors vote on it at a hearing. A plan approved and confirmed by the court also binds those who voted against.
- What you deliver after the opening is not covered by the moratorium: agree clear payment terms.
- The file is in RegSol, where you can read the documents of the procedure.
Deadlines: the judgment sets how long the moratorium runs. That date is in RegSol and in the publication in the Official Gazette. The date of the vote on the plan is in the judgment and in RegSol.
View the file in RegSol ↗
Watch
Follow this reorganisation: you are alerted to an extension, the court's approval, the closure or a bankruptcy.
General information, not legal advice. If in doubt, your lawyer or your accountant can help.Creditor guide for this company
Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
neutral · No filing for years
The last filed financial year closed on 31-12-2019. Since then, 6 financial years are missing. This points to a standstill, not an imminent failure.
NBB · 7 filingsPosition against the passed deadline
31-12-2020 close31-07-2021 deadline29-09-2026 today
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2019 was due by 31-07-2020 and was filed on 11-02-2021, 195 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 7 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
not filed
2021
not filed
2020
not filed
2019
195 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its 2019 accounts 195 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
History
Go further with this company
What should you check before you do business with this company?Supplier due diligence What held for this company on a given day: board, seat, name?Company as of a date Are there other customers at risk in your own list?List enrichment
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2019, micro schema
Equity
-€17,264▲ 10.4%
2018 · -€19,261
Total assets
€445,723▲ 7.8%
2018 · €413,375
Net result
€1,997
2018 · -€11,123
Working capital
-€97,675▼ 19.0%
2018 · -€82,084
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20182019
Operating result€5,400-€42,308▲ 684%
Net result-€11,123-€1,997
Equity-€19,261--€17,264▲ 10.4%
Total assets€413,375-€445,723▲ 7.8%
Debt€432,635-€462,987▲ 7.0%
Working capital-€82,084--€97,675▼ 19.0%
Staff (FTE)2-2.2▲ 10.0%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result rises in 2019; 2019 is 684% above 2018.
Balance-sheet composition
2019 in colour, 2018 as the grey bar beneath
Assets €445,723
Fixed assets
€308,770 ▲ 5.4%
Current assets
€136,954 ▲ 13.8%
Key figures and ratios
EBITDA
€132,224▲
2018 · €83,066
Cash flow
€91,913▲
2018 · €66,543
Solvency
-3.9%▲
2018 · -4.7%
Current ratio
0.58▼
2018 · 0.59
Debt to equity
-13.23▼
2018 · -11.95
ROA
0.4%▲
2018 · -2.7%
Debt ≤ 1 year
€234,628▲
2018 · €202,423
Debt > 1 year
€228,359▼
2018 · €230,212
Income taxes
€375▼
2018 · €3,128
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | Change |
|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €77,666 | €89,916 | ▲ 15.8% |
| Gross operating margin9900 | €220,464 | €231,382 | ▲ 5.0% |
| Operating profit (loss)9901 | €5,400 | €42,308 | ▲ 684% |
| Recurring financial income75 | €979 | €174 | ▼ 82.2% |
| Recurring financial charges65 | €14,374 | €40,111 | ▲ 179% |
| Profit (loss) for the period before taxes9903 | -€7,996 | €2,371 | ▲ 130% |
| Income taxes67/77 | €3,128 | €375 | ▼ 88.0% |
| Profit (loss) for the period9904 | -€11,123 | €1,997 | ▲ 118% |
| Profit (loss) for the period to be appropriated9905 | -€11,123 | €1,997 | ▲ 118% |
| Line | 2018 | 2019 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €413,375 | €445,723 | ▲ 7.8% |
| Fixed assets21/28 | €293,035 | €308,770 | ▲ 5.4% |
| Tangible fixed assets22/27 | €292,630 | €308,365 | ▲ 5.4% |
| Financial fixed assets28 | €405 | €405 | = |
| Current assets29/58 | €120,339 | €136,954 | ▲ 13.8% |
| Amounts receivable within one year40/41 | €118,438 | €127,225 | ▲ 7.4% |
| Cash at bank and in hand54/58 | €2 | €9,729 | ▲ 585,985% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €413,375 | €445,723 | ▲ 7.8% |
| Equity10/15 | -€19,261 | -€17,264 | ▲ 10.4% |
| Contributions10/11 | €18,550 | - | - |
| Reserves13 | €4,540 | €4,540 | = |
| Profit (loss) carried forward14 | -€42,351 | -€40,354 | ▲ 4.7% |
| Amounts payable17/49 | €432,635 | €462,987 | ▲ 7.0% |
| Amounts payable after more than one year17 | €230,212 | €228,359 | ▼ 0.8% |
| Amounts payable within one year42/48 | €202,423 | €234,628 | ▲ 15.9% |
| Trade debts44 | €64,917 | €109,521 | ▲ 68.7% |
| Line | 2018 | 2019 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | -€11,123 | €1,997 | ▲ 118% |
| + Depreciation and write-downs630 | €77,666 | €89,916 | ▲ 15.8% |
| Operating cash flow (approximation) | €66,543 | €91,913 | ▲ 38.1% |
| Investment in fixed assets (approximation) | - | -€105,650 | - |
| Change in cash | - | €9,727 | - |
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
2024
24-06
Bankruptcy
Bankruptcy closure (by liquidation)
Ondernemingsrechtbank Gent, afdeling Brugge · event 17-06-2024
2022
11-05
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Brugge · event 05-05-2022
2021
30-04
Judicial reorganisation
Opening
Ondernemingsrechtbank Gent · collective agreement · event 26-04-2021
11-02
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 195 days late
2020
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 394 days late
2019
31-12
Financial
Back to profitnet €1,997
Net result €1,997 after one loss-making year.
2018
28-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 28 days late
2017
10-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 10 days late
2016
30-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 30 days late
2015
24-08
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema · 24 days late
2014
30-06
NBB filing
Annual accounts filed
fiscal year 2013 · abbreviated schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | BERT BERT KOMVEST 29, 8000 BRUGGE- |
05-05-2022 → 17-06-2024 |