MDS
ActiveThe file of MDS contains 2 judicial reorganisation notices, as published in the Belgian State Gazette.
Summary
The computed 12-month bankruptcy probability is 14.9% (high). The 2024 annual accounts show negative equity (€-204k) and a net result of €-15k. Equity is shrinking by ~16.8% per year across the filed fiscal years. Its solvency ranks better than 8% of 6537 sector peers (fiscal year 2024).
Checked score
Score 2024
Axes · tick = 2023
Profitability37▲+18
Solvency0▼-5
Growth32▼-26
Track record60
Bankruptcy probability, 12 months
14.9%
High
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.74 against 0.81 in 2023; short-term debt: 127.7% and cash: 3.5% of total assets), and equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
+raises risk○neutral
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 2024Solvency, return and age of the figures
Solvency
-27.7%
Return on assets
-2.1%
Age of the figures
21 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Negative equity
The 2024 annual accounts show negative equity and a net loss.
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year €-204k
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 16-10-2025, 77 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 · 7 filingsDeviation from the deadline
2025
not confirmed
2024
77 d late
2023
412 d late
2022
778 d late
2021
31 d late
2020
31 d late
2019
145 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-15k
2023 · €2k
Working capital
€-248k▼ 25.7%
2023 · €-197k
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
Line20202021202220232024
Operating result€95k€-40k€-297k▼ 649%€-42k▲ 86.0%€6k
Net result€85k€-68k€-110k▼ 61.2%€2k€-15k
Equity€-97k▲ 46.6%€-81k▲ 17.1%€-191k▼ 137%€-189k▲ 1.1%€-204k▼ 8.2%
Total assets€2.08M▲ 20.5%€1.27M▼ 38.7%€964k▼ 24.4%€936k▼ 2.9%€739k▼ 21.1%
Debt€2.18M▲ 14.1%€1.36M▼ 37.7%€1.15M▼ 14.8%€1.13M▼ 2.6%€943k▼ 16.2%
Working capital€36k€45k▲ 24.4%€-63k€-197k▼ 211%€-248k▼ 25.7%
Staff (FTE)6.2=5▼ 19.4%4.7▼ 6.0%3.6▼ 23.4%3.2▼ 11.1%
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2024: €6k after a loss of €42k in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €739k
Fixed assets
€44k ▼ 36.4%
Current assets
€695k ▼ 19.9%
Key figures and ratios
EBITDA
€35k▲
2023 · €-12k
Cash flow
€13k▼
2023 · €31k
Solvency
-27.7%▼
2023 · -20.2%
Current ratio
0.74▼
2023 · 0.81
Quick ratio
0.10▼
2023 · 0.19
Debt to equity
-4.62▲
2023 · -5.96
ROA
-2.1%▼
2023 · 0.2%
Interest coverage
2.55▲
2023 · -1.01
Debt ≤ 1 year
€943k▼
2023 · €1.07M
Income taxes
€50
Staff costs
€174k▼
2023 · €219k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €2k | - | - | - | - |
| Remuneration, social security and pensions62 | - | €249k | €247k | €219k | €174k | ▼ 20.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €109k | €108k | €109k | €29k | €29k | ▼ 2.1% |
| Other operating charges640/8 | - | €15k | €8k | €6k | €5k | ▼ 6.0% |
| Non-recurring operating charges66A | - | €0 | - | - | - | - |
| Gross operating margin9900 | €457k | €332k | €66k | €212k | €214k | ▲ 0.7% |
| Operating profit (loss)9901 | €95k | €-40k | €-297k | €-42k | €6k | ▲ 115% |
| Financial income75/76B | - | €2k | €219k | €56k | €548 | ▼ 99.0% |
| Recurring financial income75 | €13k | €2k | €4k | €11k | €548 | ▼ 94.8% |
| Non-recurring financial income76B | - | €0 | €215k | €45k | - | - |
| Financial charges65/66B | - | €30k | €33k | €12k | €22k | ▲ 81.1% |
| Recurring financial charges65 | €32k | €30k | €18k | €12k | €14k | ▲ 11.6% |
| Non-recurring financial charges66B | - | - | €15k | - | €9k | - |
| Profit (loss) for the period before taxes9903 | €85k | €-68k | €-110k | €2k | €-15k | ▼ 860% |
| Income taxes67/77 | - | €340 | - | - | €50 | - |
| Profit (loss) for the period9904 | €85k | €-68k | €-110k | €2k | €-15k | ▼ 862% |
| Transfer to tax-exempt reserves689 | - | - | €214k | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €85k | €-68k | €-325k | €2k | €-15k | ▼ 862% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.08M | €1.27M | €964k | €936k | €739k | ▼ 21.1% |
| Fixed assets21/28 | €287k | €192k | €92k | €68k | €44k | ▼ 36.4% |
| Intangible fixed assets21 | €58k | €52k | €50k | €45k | €34k | ▼ 25.0% |
| Tangible fixed assets22/27 | €229k | €140k | €41k | €23k | €10k | ▼ 58.6% |
| Plant, machinery and equipment23 | - | €26k | €11k | €8k | €4k | ▼ 47.0% |
| Furniture and vehicles24 | - | €64k | €1k | €703 | €242 | ▼ 65.6% |
| Leasing and similar rights25 | - | €47k | €27k | €13k | - | - |
| Other tangible fixed assets26 | - | €3k | €3k | €2k | €5k | ▲ 139% |
| Financial fixed assets28 | €223 | €135 | €135 | €135 | €135 | = |
| Current assets29/58 | €1.79M | €1.08M | €872k | €868k | €695k | ▼ 19.9% |
| Amounts receivable after more than one year29 | - | €0 | - | - | - | - |
| Trade receivables290 | - | €0 | - | - | - | - |
| Stocks and contracts in progress3 | €979k | €714k | €686k | €670k | €605k | ▼ 9.7% |
| Stocks30/36 | - | €714k | €686k | €670k | €605k | ▼ 9.7% |
| Amounts receivable within one year40/41 | €271k | €252k | €87k | €95k | €63k | ▼ 34.2% |
| Trade receivables40 | - | €236k | €87k | €95k | €60k | ▼ 36.9% |
| Other amounts receivable41 | - | €16k | - | - | €3k | - |
| Cash at bank and in hand54/58 | €125k | €102k | €100k | €103k | €26k | ▼ 74.9% |
| Deferred charges and accrued income490/1 | - | €15k | - | €741 | €2k | ▲ 206% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.08M | €1.27M | €964k | €936k | €739k | ▼ 21.1% |
| Equity10/15 | €-97k | €-81k | €-191k | €-189k | €-204k | ▼ 8.2% |
| Contributions10/11 | - | €30k | €30k | €30k | €30k | = |
| Capital10 | - | - | €30k | €30k | €30k | = |
| Issued capital100 | - | - | €30k | €30k | €30k | = |
| Reserves13 | - | - | €214k | €214k | €214k | = |
| Tax-exempt reserves132 | - | - | €214k | €214k | €214k | = |
| Profit (loss) carried forward14 | €-127k | €-111k | €-435k | €-433k | €-448k | ▼ 3.6% |
| Amounts payable17/49 | €2.18M | €1.36M | €1.15M | €1.13M | €943k | ▼ 16.2% |
| Amounts payable after more than one year17 | €421k | €318k | €218k | €60k | - | - |
| Financial debts170/4 | - | €318k | €218k | €60k | - | - |
| Amounts payable within one year42/48 | €1.76M | €1.04M | €936k | €1.07M | €943k | ▼ 11.5% |
| Current portion of amounts payable after more than one year42 | - | €204k | €182k | €149k | €174k | ▲ 17.3% |
| Financial debts43 | - | €76k | €76k | €76k | €76k | = |
| Credit institutions430/8 | - | €76k | €76k | €76k | €76k | = |
| Trade debts44 | €799k | €507k | €395k | €577k | €427k | ▼ 26.0% |
| Suppliers440/4 | - | €507k | €395k | €577k | €427k | ▼ 26.0% |
| Advances received on contracts in progress46 | - | €83k | - | - | - | - |
| Taxes, remuneration and social security45 | - | €165k | €196k | €119k | €145k | ▲ 21.4% |
| Taxes450/3 | - | €92k | €163k | €86k | €106k | ▲ 23.3% |
| Remuneration and social security454/9 | - | €73k | €33k | €34k | €39k | ▲ 16.5% |
| Other amounts payable47/48 | - | €3k | €86k | €145k | €121k | ▼ 16.4% |
| Accrued charges and deferred income492/3 | - | - | €762 | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €85k | €-68k | €-110k | €2k | €-15k | ▼ 862% |
| + Depreciation and write-downs630 | €109k | €108k | €109k | €29k | €29k | ▼ 2.1% |
| Operating cash flow (approximation) | €194k | €39k | €-1k | €31k | €13k | ▼ 57.8% |
| Investment in fixed assets (approximation) | - | €-13k | €-8k | €-6k | €-4k | ▲ 38.5% |
| Change in cash | - | €-24k | €-2k | €3k | €-77k | ▼ 2,809% |
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
2026
27-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 77 days late
27-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 412 days late
27-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 778 days late
2025
16-10
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 77 days late
16-09
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 412 days late
16-09
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 778 days late
2023
31-12
Financial
Back to profitnet €2k
Net result €2k after 2 loss-making years.
2022
19-12
Judicial reorganisation
Plan homologation
Ondernemingsrechtbank Gent · event 13-12-2022
01-12
Judicial reorganisation
Opening
Ondernemingsrechtbank Gent · collective agreement · event 24-08-2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 31 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 31 days late
2020
31-12
Financial
Back to profitnet €85k
Net result €85k after 2 loss-making years.
Show earlier events
23-12
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 145 days late
2019
31-12
Financial
Weakest financial yearnet €-209k
Net result drops to €-209k, the lowest in the series; recovery starts the following year.
10-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 71 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
6 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, Assenede · 1 establishment unit since 2017
Ground area
2,575 m²
Building footprint
1,051 m²
Volume, LiDAR
5,698 m³
Parcel 43012A0587/00H000, Flanders · tallest building 7.6 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
MDS
since 20172.270.994.781
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 43012A0587/00H000 | Flanders | 2,574 m² | 1 · 1,051 m² | 7.6 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.
Recognitions · licences · registrations
Dual-learning approval
2 live approvalsOnderhoudsmecanicien personenwagens en lichte bedrijfsvoertuigen (vwo)
Onderhoudsmechanica auto duaal (so)
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Of 10,665 companies in sector 47811 we hold annual accounts for 5,218. 2,890 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 (pre-2019)
Founded19-12-2017
Fiscal year end31-12
Activities, NACEBEL 2025
47811Retail sale of cars and light vans (up to 3.5 tonnes)
95311General maintenance and repair of cars and light vans (up to 3.5 tonnes)
Scores and ratios are computed by Checked and are not a credit decision.