MDRO (0872.202.818): financials and annual accounts

MDRO

Woluwe-Saint-Lambert ·KBO/BCE: BE 0872.202.818

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
Balance sheet: assets
Total assets`20/58`	25,721	20,732	16,592	41,920	50,799	45,455	74,105	92,611	62,009	25,711	36,917	103,404	129,219	130,072	139,622	192,775	227,323	242,565	274,256
Fixed assets`21/28`	2,579	3,108	10,291	15,850	23,577	31,881	-	-	-	3,061	9,978	22,804	45,877	76,371	107,592	138,814	169,063	203,136	237,301
Intangible fixed assets`21`	-	-	-	-	-	-	-	-	-	-	-	14,918	44,918	74,918	104,918	134,918	164,918	194,918	225,000
Tangible fixed assets`22/27`	2,579	3,108	10,291	15,850	23,577	31,881	-	-	-	3,061	9,978	7,886	960	1,453	2,674	3,896	4,146	8,218	12,301
Plant, machinery and equipment`23`	1,350	1,690	989	1,978	2,967	3,956	-	-	-	1,422	2,844	-	-	-	-	-	-	-	-
Furniture and vehicles`24`	1,229	1,419	9,302	13,872	20,611	27,925	-	-	-	1,639	6,987	7,419	-	-	729	1,457	1,214	4,793	8,382
Other tangible fixed assets`26`	-	-	-	-	-	-	-	-	-	-	147	466	960	1,453	1,946	2,439	2,932	3,425	3,920
Current assets`29/58`	23,142	17,623	6,301	26,070	27,221	13,574	74,105	92,611	62,009	22,650	26,938	80,601	83,342	53,702	32,030	53,961	58,260	39,429	36,955
Amounts receivable after more than one year`29`	-	-	-	-	-	-	-	-	-	-	-	-	-	11,000	11,000	11,000	11,000	11,000	11,000
Trade receivables`290`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	11,000	-
Other amounts receivable`291`	-	-	-	-	-	-	-	-	-	-	-	-	-	11,000	11,000	11,000	11,000	-	11,000
Amounts receivable within one year`40/41`	9,376	5,059	3,279	9,443	-	-	1,075	30	-	-	15,637	22,880	42	5,719	1,088	12,590	4,850	196	23,055
Trade receivables`40`	9,376	5,059	3,279	7,323	-	-	1,075	30	-	-	3,931	2,113	-	5,719	289	138	138	138	23,024
Other amounts receivable`41`	-	-	-	2,120	-	-	-	-	-	-	11,706	20,767	42	-	799	12,452	4,712	58	32
Cash at bank and in hand`54/58`	-	-	8	51	42	64	57,178	69,851	44,984	7,823	1	54,635	42,443	15,067	723	43	16,766	8,556	-
Deferred charges and accrued income`490/1`	13,766	12,565	3,013	16,576	27,179	13,511	15,852	22,730	17,025	14,827	11,300	3,085	40,856	21,916	19,219	30,328	25,644	19,677	2,900
Balance sheet: equity and liabilities
Total equity and liabilities`10/49`	25,721	20,732	16,592	41,920	50,799	45,455	74,105	92,611	62,009	25,711	36,917	103,404	129,219	130,072	139,622	192,775	227,323	242,565	274,256
Equity`10/15`	-48,524	-66,203	-77,360	-44,588	-49,818	-68,272	-74,819	-98,284	-133,846	-172,876	-173,119	-132,579	-115,690	-120,359	-123,423	-85,821	-45,405	-45,486	-32,147
Contributions`10/11`	12,500	12,500	12,500	12,500	12,500	-	12,500	12,500	12,500	12,500	12,500	12,500	12,500	12,500	12,500	12,500	12,500	12,500	12,500
Issued capital`100`	-	-	-	-	-	-	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600
Uncalled capital`101`	-	-	-	-	-	-	6,100	6,100	6,100	6,100	6,100	6,100	6,100	6,100	6,100	6,100	6,100	6,100	6,100
Contributions outside capital`11`	-	-	-	-	-	12,500	-	-	-	-	-	-	-	-	-	-	-	-	-
Share premium`1100/10`	-	-	-	-	-	12,500	-	-	-	-	-	-	-	-	-	-	-	-	-
Reserves`13`	19,539	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860	1,860	-	-	-	-	-	-
Non-distributable reserves`130/1`	1,860	1,860	1,860	1,860	1,860	1,860	-	-	-	-	-	-	-	-	-	-	-	-	-
Legal reserve`130`	-	-	-	-	-	-	1,860	1,860	1,860	1,860	1,860	1,860	1,860	-	-	-	-	-	-
Reserves not available under the articles`1311`	1,860	1,860	1,860	1,860	1,860	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other`1319`	-	-	-	-	-	1,860	-	-	-	-	-	-	-	-	-	-	-	-	-
Distributable reserves`133`	17,679	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Profit (loss) carried forward`14`	-80,563	-80,563	-91,720	-58,948	-64,178	-82,632	-89,179	-112,644	-148,206	-187,236	-187,479	-146,939	-130,050	-132,859	-135,923	-98,321	-57,905	-57,986	-44,647
Amounts payable`17/49`	74,244	86,934	93,952	86,508	100,617	113,727	148,924	190,895	195,855	198,586	210,036	235,983	244,909	250,431	263,045	278,596	272,728	288,051	306,404
Amounts payable after more than one year`17`	-	-	-	20,317	14,452	21,098	-	-	-	-	-	-	210,667	221,925	232,803	243,312	253,465	265,123	277,374
Financial debts`170/4`	-	-	-	20,317	14,452	21,098	-	-	-	-	-	-	210,667	221,925	232,803	243,312	253,465	265,123	277,374
Amounts payable within one year`42/48`	74,244	86,934	93,952	64,771	84,339	91,698	147,686	189,088	194,258	193,729	208,433	235,983	25,642	26,798	28,221	33,353	17,602	21,266	29,030
Current portion of amounts payable after more than one year`42`	49,789	49,789	26,327	12,381	6,791	6,843	-	-	-	-	200,000	210,667	11,259	10,877	10,509	10,153	11,658	12,251	11,930
Financial debts`43`	448	402	23,472	6,527	13,837	21,156	-	-	-	-	7,459	9,852	-	-	10,006	13,545	-	-	12,597
Credit institutions`430/8`	448	402	23,472	6,527	13,837	21,156	-	-	-	-	7,459	9,852	-	-	10,006	13,545	-	-	12,597
Trade debts`44`	7,589	8,180	10,716	1,344	1,496	50	793	799	1,370	1,949	974	15,465	3,286	6,228	7,356	8,605	5,943	3,076	1,726
Suppliers`440/4`	7,589	8,180	10,716	1,344	1,496	50	793	799	1,370	1,949	974	15,465	3,286	6,228	7,356	8,605	5,943	3,076	1,726
Taxes, remuneration and social security`45`	7,023	574	291	-	389	410	114	131	4,088	3,000	-	-	-	-	-	-	-	350	2,500
Taxes`450/3`	7,023	574	291	-	389	410	114	131	88	-	-	-	-	-	-	-	-	-	-
Remuneration and social security`454/9`	-	-	-	-	-	-	-	-	4,000	3,000	-	-	-	-	-	-	-	350	2,500
Other amounts payable`47/48`	9,396	27,989	33,146	44,518	61,825	63,239	146,779	188,158	188,800	188,781	-	-	11,098	9,693	350	1,050	-	5,590	276
Accrued charges and deferred income`492/3`	-	-	-	1,420	1,825	931	1,237	1,807	1,596	4,857	1,603	-	8,600	1,708	2,021	1,930	1,662	1,662	-
Income statement
Turnover`70`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	110,910	88,482
Non-recurring operating income`76A`	-	-	500	-	-	-	-	-	-	-	500	-	-	-	-	-	-	-	-
Gross operating margin`9900`	26,782	24,813	-21,576	15,953	29,273	16,587	24,014	36,072	42,726	8,934	-8,880	25,424	44,517	44,500	4,845	2,232	45,213	33,002	2,722
Goods, raw materials, services and sundry goods`60/61`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	77,908	85,760
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets`630`	2,049	8,879	8,686	8,306	8,303	8,303	-	-	3,061	6,918	22,008	34,203	30,493	31,222	31,222	32,435	34,072	34,166	34,112
Other operating charges`640/8`	-	221	-	-	-	-	-	-	-	-	178	-	178	89	89	89	89	89	268
Operating profit (loss)`9901`	24,733	15,713	-30,262	7,647	20,970	8,284	24,014	36,072	39,665	2,017	-31,066	-8,779	13,846	13,189	-26,466	-30,292	11,052	-1,253	-31,658
Financial income`75/76B`	756	-	-	-	0	1	0	60	0	0	1,855	1,717	523	327	912	1,229	414	389	331
Recurring financial income`75`	151	-	-	-	0	1	0	60	0	0	1,855	1,717	523	327	912	1,229	414	389	331
Non-recurring financial income`76B`	605	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Financial charges`65/66B`	717	1,339	2,219	2,037	2,127	1,329	437	440	548	1,774	11,825	9,770	9,649	10,452	12,048	11,352	11,386	12,475	12,096
Recurring financial charges`65`	717	767	1,879	2,037	2,127	1,329	427	440	535	1,774	11,825	9,770	9,649	10,452	12,048	11,352	11,386	12,475	12,096
Non-recurring financial charges`66B`	-	572	340	-	-	-	10	-	13	-	-	-	-	-	-	-	-	-	-
Profit (loss) for the period before taxes`9903`	24,773	14,374	-32,481	5,610	18,843	6,957	23,577	35,692	39,117	243	-40,535	-16,832	4,720	3,064	-37,602	-40,416	81	-13,338	-43,423
Income taxes`67/77`	7,093	3,217	291	380	389	410	111	130	88	-	5	57	51	0	-	-	-	-	-
Profit (loss) for the period`9904`	17,679	11,157	-32,772	5,230	18,454	6,546	23,465	35,562	39,029	243	-40,540	-16,889	4,669	3,064	-37,602	-40,416	81	-13,338	-43,423
Profit (loss) for the period to be appropriated`9905`	17,679	11,157	-32,772	5,230	18,454	6,546	23,465	35,562	39,029	243	-40,540	-16,889	4,669	3,064	-37,602	-40,416	81	-13,338	-43,423
Appropriation of the result
Profit (loss) to be appropriated`9906`	-62,884	-80,563	-91,720	-58,948	-64,178	-82,632	-89,179	-112,644	-148,206	-187,236	-187,479	-146,939	-128,190	-132,859	-135,923	-98,321	-57,905	-57,986	-44,647
Profit (loss) brought forward from the previous period`14P`	-80,563	-91,720	-58,948	-64,178	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Transfer to equity`691/2`	17,679	-	-	-	-	-	-	-	-	-	-	-	1,860	-	-	-	-	-	-
To the legal reserve`6920`	-	-	-	-	-	-	-	-	-	-	-	-	1,860	-	-	-	-	-	-
To other reserves`6921`	17,679	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
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Financial year	Type	Filed	Reference	Document
30-06-2025	micro format	25-02-2026	2026-00044367	PDF
30-06-2024	micro format	31-01-2025	2025-00025260	PDF
30-06-2023	micro format	27-02-2024	2024-00037566	PDF
30-06-2022	micro format	31-01-2023	2023-00021968	PDF
30-06-2021	micro format	31-01-2022	2022-05000566	PDF
30-06-2020	micro format	27-01-2021	2021-02000514	PDF
30-06-2019	micro format	31-01-2020	2020-04300241	PDF
30-06-2018	micro format	31-01-2019	2019-04700038	PDF
30-06-2017	micro format	31-01-2018	2018-04300484	PDF
30-06-2016	full format	31-01-2017	2017-04000327	PDF
30-06-2015	full format	30-01-2016	2016-03900586	PDF
30-06-2014	full format	27-02-2015	2015-05700001	PDF
30-06-2013	full format	19-05-2014	2014-12500568	PDF
30-06-2012	full format	27-02-2013	2013-05100158	PDF
30-06-2011	full format	28-02-2012	2012-04900367	PDF
30-06-2010	full format	23-02-2011	2011-04200590	PDF
30-06-2009	full format	29-01-2010	2010-03400013	PDF
30-06-2008	full format	27-02-2009	2009-06400118	PDF
30-06-2007	full format	05-02-2008	2008-03800189	PDF
30-06-2006	full format	29-12-2006	2006-94100564	PDF

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
EBITDA	26,782	24,592	-21,576	15,953	29,273	16,587	-	-	42,726	8,934	-9,058	25,424	44,339	44,411	4,756	2,143	45,124	32,913	2,454
Cash flow	19,728	20,036	-24,086	13,536	26,757	14,849	-	-	42,090	7,161	-18,532	17,314	35,162	34,286	-6,380	-7,980	34,153	20,827	-9,311
Investment in fixed assets (approximation)	1,520	1,696	3,127	579	0	40,184	-	-	0	0	9,182	11,129	0	0	0	2,186	0	0	5,128
Change in cash	-	-	-43	9	-22	-57,114	-12,673	24,867	37,161	7,822	-54,634	12,192	27,377	14,343	680	-16,723	8,210	-	-
Working capital	-51,103	-69,311	-87,652	-38,701	-57,118	-78,123	-73,581	-96,477	-132,250	-171,080	-181,494	-155,383	57,700	26,904	3,809	20,608	40,658	18,164	7,925
EBIT margin	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1.1%	-35.8%
Solvency	-188.7%	-319.3%	-466.2%	-106.4%	-98.1%	-150.2%	-101.0%	-106.1%	-215.9%	-672.4%	-468.9%	-128.2%	-89.5%	-92.5%	-88.4%	-44.5%	-20.0%	-18.8%	-11.7%
Current ratio	0.31	0.20	0.07	0.40	0.32	0.15	0.50	0.49	0.32	0.12	0.13	0.34	3.25	2.00	1.13	1.62	3.31	1.85	1.27
ROA	68.7%	53.8%	-197.5%	12.5%	36.3%	14.4%	31.7%	38.4%	62.9%	0.9%	-109.8%	-16.3%	3.6%	2.4%	-26.9%	-21.0%	0.0%	-5.5%	-15.8%
Interest coverage	37.37	32.06	-11.48	7.83	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Customer credit	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0 days	95 days
Supplier credit	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	14 days	7 days

Item	30-06-2025	30-06-2024	30-06-2023	30-06-2022
Tangible fixed assets	€1,520	€1,696	€3,127	€579
Depreciation and write-downs of the year	€2,049	€8,879	€8,686	€8,306

MDRO

Annual accounts 2025

Money flows

Balance sheet

Change in equityin euro

Change in cash

Filed annual accounts

Filings

Key figures and ratios

Investments

Insights on MDRO

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