MDM Projects
ActiveSummary
The computed 12-month bankruptcy probability of MDM Projects is 1.6% (moderate). The 2025 annual accounts show equity of €94k and a net result of €57k. Equity is growing by ~45.5% per year across the filed fiscal years. Its solvency ranks better than 66% of 1909 sector peers (fiscal year 2025). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+6
Solvency87▲+5
Growth78=
Track record100
Bankruptcy probability, 12 months
1.6%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €6k at 30 days acceptable
Liquidity ample (current ratio 2.08 against 1.77 in 2024; short-term debt: 38% and cash: 2.1% of total assets), and 38.4% 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+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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 25
Relative position
BE, all sectors
reference
Manufacture of fabricated metal products, except machinery and equipment (NACE 25)
about 50% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
61.6%
Return on assets
37.5%
Age of the figures
18 mo
neutral · Filed after the deadline
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 28-11-2025, 28 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 · 6 filingsDeviation from the deadline
2025
28 d late
2024
on the day
2023
6 d late
2022
2 d late
2021
1 d late
2020
2 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 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close25-09-2026 today31-10-2026 deadline
Financials · fiscal year 2025, micro schema
Equity
€94k▲ 33.4%
2024 · €71k
2020: €23k
2021: €17k▼ -26.2% vs 2020lowest in 6 years
2022: €25k▲ +45.5% vs 2021
2023: €46k▲ +88.2% vs 2022
2024: €71k▲ +52.9% vs 2023
2025: €94k▲ +33.4% vs 2024highest in 6 years
2020 → 2025
Total assets
€153k▲ 23.9%
2024 · €123k
2020: €39k
2021: €27k▼ -32.4% vs 2020lowest in 6 years
2022: €56k▲ +113% vs 2021
2023: €159k▲ +181% vs 2022highest in 6 years
2024: €123k▼ -22.2% vs 2023
2025: €153k▲ +23.9% vs 2024
2020 → 2025
Net result
€57k▲ 134%
2024 · €24k
2020: €17k
2021: €-6k▼ -136% vs 2020lowest in 6 years
2022: €8k▲ +228% vs 2021
2023: €22k▲ +182% vs 2022
2024: €24k▲ +13.0% vs 2023
2025: €57k▲ +134% vs 2024highest in 6 years
2020 → 2025
Working capital
€62k▲ 80.5%
2024 · €35k
2020: €15k
2021: €9k▼ -39.8% vs 2020lowest in 6 years
2022: €15k▲ +75.4% vs 2021
2023: €89k▲ +483% vs 2022highest in 6 years
2024: €35k▼ -61.3% vs 2023
2025: €62k▲ +80.5% vs 2024
2020 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€17k-€25k▲ 45.5%€46k▲ 88.2%€71k▲ 52.9%€94k▲ 33.4%
2021: €17klowest in 5 years
2022: €25k▲ +45.5% vs 2021
2023: €46k▲ +88.2% vs 2022
2024: €71k▲ +52.9% vs 2023
2025: €94k▲ +33.4% vs 2024highest in 5 years
Operating result€-6k-€8k€27k▲ 242%€35k▲ 29.4%€81k▲ 129%
2021: €-6klowest in 5 years
2022: €8k▲ +230% vs 2021
2023: €27k▲ +242% vs 2022
2024: €35k▲ +29.4% vs 2023
2025: €81k▲ +129% vs 2024highest in 5 years
Net result€-6k-€8k€22k▲ 182%€24k▲ 13.0%€57k▲ 134%
2021: €-6klowest in 5 years
2022: €8k▲ +228% vs 2021
2023: €22k▲ +182% vs 2022
2024: €24k▲ +13.0% vs 2023
2025: €57k▲ +134% vs 2024highest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2025 is 129% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €153k
Fixed assets
€32k ▼ 25.9%
Current assets
€120k ▲ 51.0%
Equity and liabilities €153k
Equity
€94k ▲ 33.4%
Debt
€59k ▲ 11.1%
Debt's share of the balance-sheet total falls from 42.8% to 38.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€92k▲
2024 · €45k
Cash flow
€68k▲
2024 · €34k
Current ratio
2.08▲
2024 · 1.77
Quick ratio
0.99▲
2024 · 0.95
Debt to equity
0.62▼
2024 · 0.75
ROE
60.8%▲
2024 · 34.6%
ROA
37.5%▲
2024 · 19.8%
Interest coverage
106.53▲
2024 · 29.07
Debt ≤ 1 year
€58k▲
2024 · €45k
Income taxes
€23k▲
2024 · €9k
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 · 46 lines
Balance sheet
Code20242025
Assets
Total assets20/58€123k€153k▲
Fixed assets21/28€44k€32k▼
Tangible fixed assets22/27€44k€32k▼
Plant, machinery and equipment23€22k€18k▼
Furniture and vehicles24€21k€15k▼
Current assets29/58€80k€120k▲
Stocks and contracts in progress3€37k€63k▲
Stocks30/36€25k€11k▼
Contracts in progress37€11k€52k▲
Amounts receivable within one year40/41€26k€53k▲
Trade receivables40€21k€43k▲
Other amounts receivable41€5k€9k▲
Cash at bank and in hand54/58€15k€3k▼
Deferred charges and accrued income490/1€2k€2k▼
Equity and liabilities
Total equity and liabilities10/49€123k€153k▲
Equity10/15€71k€94k▲
Contributions10/11€6k€19k▲
Profit (loss) carried forward14€64k€76k▲
Amounts payable17/49€53k€59k▲
Amounts payable after more than one year17€7k-
Financial debts170/4€7k-
Amounts payable within one year42/48€45k€58k▲
Current portion of amounts payable after more than one year42€14k€7k▼
Trade debts44€4k€26k▲
Suppliers440/4€4k€26k▲
Taxes, remuneration and social security45€10k€24k▲
Taxes450/3€10k€23k▲
Remuneration and social security454/9€678€2k▲
Other amounts payable47/48€18k€33▼
Accrued charges and deferred income492/3€336€561▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€10k€11k▲
Other operating charges640/8€720€589▼
Gross operating margin9900€46k€93k▲
Operating profit (loss)9901€35k€81k▲
Financial income75/76B€164€1▼
Recurring financial income75€164€1▼
Financial charges65/66B€2k€863▼
Recurring financial charges65€2k€863▼
Profit (loss) for the period before taxes9903€34k€80k▲
Income taxes67/77€9k€23k▲
Profit (loss) for the period9904€24k€57k▲
Profit (loss) for the period to be appropriated9905€24k€57k▲
Appropriation of the result
Profit (loss) to be appropriated9906€64k€122k▲
Profit (loss) brought forward from the previous period14P€40k€64k▲
Profit to be distributed694/7-€46k
Return on contributions (dividend)694-€46k
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 | €5k | €5k | €8k | €10k | €11k | ▲ 12.3% |
| Other operating charges640/8 | - | €802 | €506 | €720 | €589 | ▼ 18.1% |
| Gross operating margin9900 | €-1k | €14k | €36k | €46k | €93k | ▲ 101% |
| Operating profit (loss)9901 | €-6k | €8k | €27k | €35k | €81k | ▲ 129% |
| Financial income75/76B | - | €102 | €4k | €164 | €1 | ▼ 99.3% |
| Recurring financial income75 | €212 | €102 | €4k | €164 | €1 | ▼ 99.3% |
| Financial charges65/66B | - | €388 | €1k | €2k | €863 | ▼ 44.6% |
| Recurring financial charges65 | €74 | €388 | €1k | €2k | €863 | ▼ 44.6% |
| Profit (loss) for the period before taxes9903 | €-6k | €8k | €30k | €34k | €80k | ▲ 136% |
| Income taxes67/77 | - | - | €8k | €9k | €23k | ▲ 140% |
| Profit (loss) for the period9904 | €-6k | €8k | €22k | €24k | €57k | ▲ 134% |
| Profit (loss) for the period to be appropriated9905 | €-6k | €8k | €22k | €24k | €57k | ▲ 134% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €27k | €56k | €159k | €123k | €153k | ▲ 23.9% |
| Fixed assets21/28 | €8k | €18k | €43k | €44k | €32k | ▼ 25.9% |
| Intangible fixed assets21 | €900 | - | - | - | - | - |
| Tangible fixed assets22/27 | €7k | €18k | €43k | €44k | €32k | ▼ 25.9% |
| Plant, machinery and equipment23 | - | €18k | €15k | €22k | €18k | ▼ 21.1% |
| Furniture and vehicles24 | - | - | €28k | €21k | €15k | ▼ 31.0% |
| Current assets29/58 | €18k | €39k | €116k | €80k | €120k | ▲ 51.0% |
| Stocks and contracts in progress3 | €2k | €31k | €25k | €37k | €63k | ▲ 71.0% |
| Stocks30/36 | - | €15k | €25k | €25k | €11k | ▼ 58.8% |
| Contracts in progress37 | - | €16k | - | €11k | €52k | ▲ 367% |
| Amounts receivable within one year40/41 | €8k | €2k | €27k | €26k | €53k | ▲ 104% |
| Trade receivables40 | - | €441 | €24k | €21k | €43k | ▲ 112% |
| Other amounts receivable41 | - | €2k | €3k | €5k | €9k | ▲ 76.9% |
| Cash at bank and in hand54/58 | €7k | €5k | €60k | €15k | €3k | ▼ 78.4% |
| Deferred charges and accrued income490/1 | - | €395 | €3k | €2k | €2k | ▼ 31.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €27k | €56k | €159k | €123k | €153k | ▲ 23.9% |
| Equity10/15 | €17k | €25k | €46k | €71k | €94k | ▲ 33.4% |
| Contributions10/11 | - | €6k | €6k | €6k | €19k | ▲ 199% |
| Profit (loss) carried forward14 | €11k | €18k | €40k | €64k | €76k | ▲ 17.4% |
| Amounts payable17/49 | €10k | €32k | €112k | €53k | €59k | ▲ 11.1% |
| Amounts payable after more than one year17 | - | €9k | €21k | €7k | - | - |
| Financial debts170/4 | - | €9k | €21k | €7k | - | - |
| Amounts payable within one year42/48 | €10k | €23k | €26k | €45k | €58k | ▲ 28.5% |
| Current portion of amounts payable after more than one year42 | - | €3k | €13k | €14k | €7k | ▼ 46.5% |
| Trade debts44 | €5k | €14k | €7k | €4k | €26k | ▲ 622% |
| Suppliers440/4 | - | €14k | €7k | €4k | €26k | ▲ 622% |
| Taxes, remuneration and social security45 | - | €5k | €3k | €10k | €24k | ▲ 137% |
| Taxes450/3 | - | €230 | €3k | €10k | €23k | ▲ 135% |
| Remuneration and social security454/9 | - | €5k | - | €678 | €2k | ▲ 163% |
| Other amounts payable47/48 | - | €1k | €3k | €18k | €33 | ▼ 99.8% |
| Accrued charges and deferred income492/3 | - | - | €65k | €336 | €561 | ▲ 67.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-6k | €8k | €22k | €24k | €57k | ▲ 134% |
| + Depreciation and write-downs630 | €5k | €5k | €8k | €10k | €11k | ▲ 12.3% |
| Operating cash flow (approximation) | €-1k | €13k | €30k | €34k | €68k | ▲ 98.7% |
| Investment in fixed assets (approximation) | - | €-15k | €-33k | €-11k | €0 | ▲ 100% |
| Change in cash | - | €-2k | €56k | €-46k | €-12k | ▲ 74.6% |
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
2025
28-11
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 28 days late
31-03
Financial
Highest result since 2020net €57k ▲134%
Operating result €81k, net result €57k, both a record.
2024
31-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2023
06-11
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 6 days late
31-03
Financial
Liquidity triplescurrent ratio 4.40
Current ratio from 1.65 to 4.40.
2022
02-11
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 2 days late
31-03
Financial
Back to profitnet €8k
Net result €8k after one loss-making year.
2021
01-11
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 1 day late
31-03
Financial
Weakest financial yearnet €-6k
Net result drops to €-6k, the lowest in the series; recovery starts the following year.
2020
29-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
Financial 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
Registered office, Eeklo · 1 establishment unit since 2019
Ground area
3,084 m²
Building footprint
113 m²
Volume, LiDAR
499 m³
Parcel 43005B0197/02R003, Flanders · tallest building 8.3 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
MDM Projects
since 20192.285.271.005
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 43005B0197/02R003 | Flanders | 3,084 m² | 1 · 113 m² | 8.2 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.
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Of 3,984 companies in sector 25110 we hold annual accounts for 2,145. 1,613 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
Founded30-01-2019
Fiscal year end31-03
Activities, NACEBEL 2025
25110Manufacture of metal structures and parts of structures
33120Repair and maintenance of machinery
96994Pet training
Scores and ratios are computed by Checked and are not a credit decision.