From the official registers: KBO 21 annual accounts at the National Bank publications in the Belgian Official Gazette
Summary
MDP is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €66,967 and a net result of €12,018. Equity is growing by about 13% per year across the filed financial years. Its solvency ranks better than 77% of 6,680 sector peers (NACE 64, financial year 2025). The company has been active since 2003 and the Belgian Official Gazette contains no insolvency or warning signals.
Financials · financial year 2025, abbreviated format
Latest annual accounts filed
Annual accounts 2025
- Financial year ended
- 31-12-2025
- Filed on
- 25-07-2026
- Format
- abbreviated format
- Reference
- 2026-00332325
Equity
€66,967▲ 20.1%
2024 · €55,781
Net result
€12,018▲ 63.6%
2024 · €7,348
Total assets
€82,765▲ 9.0%
2024 · €75,910
Solvency
80.9%▲ 7.4pp
2024 · 73.5%
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result recovers in 2025; 2025 is 72% above 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€14,068
2025
Net result€12,018
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€82,765
2025
Equity€66,967
2025
Debt€15,798
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€57,868
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)14.5%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency80.9%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio6.39
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 64, Financial service activities, except insurance and pension funding: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€1,027--€5,006€563-€4,782€3,837€20,815▲ 442%€8,174▼ 60.7%€14,068▲ 72.1%
Net result€81--€5,162€342below the sector's middle half-€4,250below the sector's middle half€4,738within the sector's middle half€16,878within the sector's middle half▲ 256%€7,348within the sector's middle half▼ 56.5%€12,018within the sector's middle half▲ 63.6%
Equity€35,888-€30,726▼ 14.4%€31,068below the sector's middle half▲ 1.1%€26,818below the sector's middle half▼ 13.7%€31,555below the sector's middle half▲ 17.7%€48,433within the sector's middle half▲ 53.5%€55,781within the sector's middle half▲ 15.2%€66,967below the sector's middle half▲ 20.1%
Total assets€56,065-€44,364▼ 20.9%€43,959below the sector's middle half▼ 0.9%€34,400below the sector's middle half▼ 21.7%€41,107below the sector's middle half▲ 19.5%€70,276below the sector's middle half▲ 71.0%€75,910below the sector's middle half▲ 8.0%€82,765below the sector's middle half▲ 9.0%
Debt€20,177-€13,638▼ 32.4%€12,891▼ 5.5%€7,582▼ 41.2%€9,552▲ 26.0%€21,843▲ 129%€20,128▼ 7.8%€15,798▼ 21.5%
Working capital€36,866-€31,320▼ 15.0%€31,232within the sector's middle half▼ 0.3%€26,504within the sector's middle half▼ 15.1%€31,555within the sector's middle half▲ 19.1%€33,962within the sector's middle half▲ 7.6%€44,065within the sector's middle half▲ 29.7%€57,868within the sector's middle half▲ 31.3%
Solvency64.0%-69.3%▲ 5.2pp70.7%within the sector's middle half▲ 1.4pp78.0%above the sector's middle half▲ 7.3pp76.8%above the sector's middle half▼ 1.2pp68.9%within the sector's middle half▼ 7.8pp73.5%within the sector's middle half▲ 4.6pp80.9%above the sector's middle half▲ 7.4pp
Current ratio4.26-5.40▲ 1.144.56above the sector's middle half▼ 0.845.48above the sector's middle half▲ 0.924.30above the sector's middle half▼ 1.173.81within the sector's middle half▼ 0.494.48above the sector's middle half▲ 0.676.39above the sector's middle half▲ 1.90
Return on assets (ROA)0.1%--11.6%▼ 11.8pp0.8%within the sector's middle half▲ 12.4pp-12.4%below the sector's middle half▼ 13.1pp11.5%within the sector's middle half▲ 23.9pp24.0%within the sector's middle half▲ 12.5pp9.7%within the sector's middle half▼ 14.3pp14.5%above the sector's middle half▲ 4.8pp
above
within
below
the middle half of NACE 64, Financial service activities, except insurance and pension funding: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin not published: the abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €82,765
Fixed assets
€14,157 ▼ 26.3%
Current assets
€68,608 ▲ 21.0%
Equity and liabilities €82,765
Equity
€66,967 ▲ 20.1%
Debt
€15,798 ▼ 21.5%
Debt's share of the balance-sheet total falls from 26.5% to 19.1%. Equity is higher and debt is lower.
Key figures and ratios
ROE
17.9%▲
2024 · 13.2%
Debt ≤ 1 year
€10,740▼
2024 · €12,646
Debt > 1 year
€5,058▼
2024 · €7,482
Income taxes
€4,505▲
2024 · €2,939
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,350 | €1,977 | €1,977 | €1,977 | €1,977 | €967 | €5,041 | €5,041 | = |
| Other operating charges640/8 | - | - | - | €1,178 | €1,092 | €1,232 | €578 | €372 | ▼ 35.7% |
| Gross operating margin9900 | €11,281 | -€1,821 | €4,206 | -€1,627 | €6,905 | €23,014 | €13,794 | €19,482 | ▲ 41.2% |
| Operating profit (loss)9901 | €1,027 | -€5,006 | €563 | -€4,782 | €3,837 | €20,815 | €8,174 | €14,068 | ▲ 72.1% |
| Financial income75/76B | - | - | - | €715 | €1,684 | €1,743 | €2,808 | €3,060 | ▲ 9.0% |
| Recurring financial income75 | €142 | €300 | €92 | €715 | €1,684 | €1,743 | €2,808 | €3,060 | ▲ 9.0% |
| Financial charges65/66B | - | - | - | €184 | €127 | €246 | €695 | €606 | ▼ 12.8% |
| Recurring financial charges65 | €570 | €415 | €313 | €184 | €127 | €246 | €695 | €606 | ▼ 12.8% |
| Profit (loss) for the period before taxes9903 | €599 | -€5,121 | €342 | -€4,250 | €5,394 | €22,313 | €10,287 | €16,523 | ▲ 60.6% |
| Income taxes67/77 | €518 | €41 | - | - | €656 | €5,435 | €2,939 | €4,505 | ▲ 53.3% |
| Profit (loss) for the period9904 | €81 | -€5,162 | €342 | -€4,250 | €4,738 | €16,878 | €7,348 | €12,018 | ▲ 63.6% |
| Profit (loss) for the period to be appropriated9905 | €81 | -€5,162 | €342 | -€4,250 | €4,738 | €16,878 | €7,348 | €12,018 | ▲ 63.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €56,065 | €44,364 | €43,959 | €34,400 | €41,107 | €70,276 | €75,910 | €82,765 | ▲ 9.0% |
| Fixed assets21/28 | €7,907 | €5,930 | €3,953 | €1,977 | - | €24,240 | €19,198 | €14,157 | ▼ 26.3% |
| Tangible fixed assets22/27 | €7,907 | €5,930 | €3,953 | €1,977 | - | €24,240 | €19,198 | €14,157 | ▼ 26.3% |
| Furniture and vehicles24 | - | - | - | €1,977 | - | €24,240 | €19,198 | €14,157 | ▼ 26.3% |
| Current assets29/58 | €48,159 | €38,434 | €40,005 | €32,423 | €41,107 | €46,036 | €56,711 | €68,608 | ▲ 21.0% |
| Amounts receivable within one year40/41 | €35,325 | €28,214 | €34,056 | €28,195 | €38,572 | €43,341 | €55,215 | €65,531 | ▲ 18.7% |
| Trade receivables40 | - | - | - | €2,695 | €10,480 | €2,950 | €391 | €433 | ▲ 10.8% |
| Other amounts receivable41 | - | - | - | €25,500 | €28,092 | €40,391 | €54,824 | €65,098 | ▲ 18.7% |
| Cash at bank and in hand54/58 | €11,030 | €8,359 | €4,246 | €2,442 | €923 | €539 | €373 | €1,993 | ▲ 434% |
| Deferred charges and accrued income490/1 | - | - | - | €1,786 | €1,612 | €2,156 | €1,123 | €1,084 | ▼ 3.5% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €56,065 | €44,364 | €43,959 | €34,400 | €41,107 | €70,276 | €75,910 | €82,765 | ▲ 9.0% |
| Equity10/15 | €35,888 | €30,726 | €31,068 | €26,818 | €31,555 | €48,433 | €55,781 | €66,967 | ▲ 20.1% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Contributions outside capital11 | - | - | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Other1109/19 | - | - | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €6,590 | €23,460 | €30,800 | €42,800 | ▲ 39.0% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | - | - | - | €4,730 | €21,600 | €28,940 | €40,940 | ▲ 41.5% |
| Profit (loss) carried forward14 | €15,428 | €10,266 | €10,608 | €6,358 | €6,365 | €6,373 | €6,381 | €5,567 | ▼ 12.8% |
| Amounts payable17/49 | €20,177 | €13,638 | €12,891 | €7,582 | €9,552 | €21,843 | €20,128 | €15,798 | ▼ 21.5% |
| Amounts payable after more than one year17 | €8,884 | €6,525 | €4,118 | €1,663 | - | €9,768 | €7,482 | €5,058 | ▼ 32.4% |
| Financial debts170/4 | - | - | - | €1,663 | - | €9,768 | €7,482 | €5,058 | ▼ 32.4% |
| Amounts payable within one year42/48 | €11,293 | €7,114 | €8,773 | €5,919 | €9,552 | €12,074 | €12,646 | €10,740 | ▼ 15.1% |
| Current portion of amounts payable after more than one year42 | - | - | - | €2,455 | €1,663 | €1,982 | €2,101 | €2,227 | ▲ 6.0% |
| Trade debts44 | €1,680 | €1,818 | €3,797 | €1,531 | €1,520 | €3,823 | €2,879 | €3,451 | ▲ 19.9% |
| Suppliers440/4 | - | - | - | €1,531 | €1,520 | €3,823 | €2,879 | €3,451 | ▲ 19.9% |
| Taxes, remuneration and social security45 | - | - | - | €1,933 | €6,368 | €6,268 | €7,666 | €4,228 | ▼ 44.8% |
| Taxes450/3 | - | - | - | €1,933 | €6,368 | €6,268 | €7,666 | €4,228 | ▼ 44.8% |
| Other amounts payable47/48 | - | - | - | - | - | - | - | €833 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €81 | -€5,162 | €342 | -€4,250 | €4,738 | €16,878 | €7,348 | €12,018 | ▲ 63.6% |
| + Depreciation and write-downs630 | €7,350 | €1,977 | €1,977 | €1,977 | €1,977 | €967 | €5,041 | €5,041 | = |
| Operating cash flow (approximation) | €7,431 | -€3,185 | €2,318 | -€2,273 | €6,714 | €17,845 | €12,389 | €17,060 | ▲ 37.7% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | - | - | €0 | €0 | - |
| Change in cash | - | -€2,671 | -€4,113 | -€1,804 | -€1,519 | -€384 | -€166 | €1,620 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 21 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 25-07-2026 | 2026-00332325 | NBB |
| 31-12-2024 | micro format | 12-09-2025 | 2025-00490079 | |
| 31-12-2023 | micro format | 30-09-2024 | 2024-00478499 | |
| 31-12-2022 | micro format | 31-08-2023 | 2023-00384243 | |
| 31-12-2021 | micro format | 30-09-2022 | 2022-20442344 | |
| 31-12-2020 | micro format | 27-10-2021 | 2021-73800301 | |
| 31-12-2019 | micro format | 26-11-2020 | 2020-73000390 | |
| 31-12-2018 | micro format | 17-09-2019 | 2019-64900362 | |
| 31-12-2017 | micro format | 27-09-2018 | 2018-66500568 | |
| 31-12-2016 | micro format | 27-09-2017 | 2017-63500383 |
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Of the 24,452 active companies whose main activity is activities of holding companies (NACE 64210), figures are known for 20,126. 11,511 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.