MDS CONSTRUCT
ActiveSummary
MDS CONSTRUCT has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €251k and a net result of €47k. Equity is growing by ~12.1% per year across the filed fiscal years. Its solvency ranks better than 82% of 7500 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability86▲+11
Solvency99▲+25
Growth78=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €22k at 30 days acceptable
Liquidity ample (current ratio 3.82 against 3.25 in 2024; short-term debt: 25.1% and cash: 39.7% of total assets), and 25.5% 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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 41
Relative position
BE, all sectors
reference
Construction of residential and non-residential buildings (NACE 41)
about 67% 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
74.5%
Return on assets
13.9%
Age of the figures
9 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 15-07-2026, 16 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
16 d early
2024
64 d early
2023
36 d early
2022
32 d early
2021
31 d early
2020
15 d early
2019
13 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€251k▲ 5.1%
2024 · €239k
2018: €129k
2019: €99k▼ -23.2% vs 2018lowest in 8 years
2020: €134k▲ +35.0% vs 2019
2021: €170k▲ +26.5% vs 2020
2022: €234k▲ +37.9% vs 2021
2023: €213k▼ -8.9% vs 2022
2024: €239k▲ +12.1% vs 2023
2025: €251k▲ +5.1% vs 2024highest in 8 years
2018 → 2025
Total assets
€337k▼ 30.4%
2024 · €484k
2018: €546k
2019: €464k▼ -15.1% vs 2018
2020: €554k▲ +19.5% vs 2019highest in 8 years
2021: €516k▼ -6.9% vs 2020
2022: €548k▲ +6.3% vs 2021
2023: €509k▼ -7.1% vs 2022
2024: €484k▼ -4.9% vs 2023
2025: €337k▼ -30.4% vs 2024lowest in 8 years
2018 → 2025
Net result
€47k▲ 82.2%
2024 · €26k
2018: €3k
2019: €-30k▼ -1282% vs 2018lowest in 8 years
2020: €125k▲ +516% vs 2019highest in 8 years
2021: €76k▼ -39.5% vs 2020
2022: €64k▼ -14.9% vs 2021
2023: €-21k▼ -132% vs 2022
2024: €26k▲ +224% vs 2023
2025: €47k▲ +82.2% vs 2024
2018 → 2025
Working capital
€238k▲ 35.8%
2024 · €176k
2018: €19k
2019: €-3k▼ -114% vs 2018lowest in 8 years
2020: €45k▲ +1811% vs 2019
2021: €95k▲ +110% vs 2020
2022: €169k▲ +78.2% vs 2021
2023: €150k▼ -11.6% vs 2022
2024: €176k▲ +17.4% vs 2023
2025: €238k▲ +35.8% vs 2024highest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€170k-€234k▲ 37.9%€213k▼ 8.9%€239k▲ 12.1%€251k▲ 5.1%
2021: €170klowest in 5 years
2022: €234k▲ +37.9% vs 2021
2023: €213k▼ -8.9% vs 2022
2024: €239k▲ +12.1% vs 2023
2025: €251k▲ +5.1% vs 2024highest in 5 years
Operating result€92k-€97k▲ 5.8%€-14k€32k€71k▲ 120%
2021: €92k
2022: €97k▲ +5.8% vs 2021highest in 5 years
2023: €-14k▼ -114% vs 2022lowest in 5 years
2024: €32k▲ +330% vs 2023
2025: €71k▲ +120% vs 2024
Net result€76k-€64k▼ 14.9%€-21k€26k€47k▲ 82.2%
2021: €76khighest in 5 years
2022: €64k▼ -14.9% vs 2021
2023: €-21k▼ -132% vs 2022lowest in 5 years
2024: €26k▲ +224% vs 2023
2025: €47k▲ +82.2% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 120% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €337k
Fixed assets
€14k ▼ 94.0%
Current assets
€323k ▲ 27.4%
Equity and liabilities €337k
Equity
€251k ▲ 5.1%
Debt
€86k ▼ 64.9%
Debt's share of the balance-sheet total falls from 50.7% to 25.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€74k▲
2024 · €59k
Cash flow
€50k▼
2024 · €53k
Current ratio
3.82▲
2024 · 3.25
Debt to equity
0.34▼
2024 · 1.03
ROE
18.7%▲
2024 · 10.8%
ROA
13.9%▲
2024 · 5.3%
Interest coverage
12.55▲
2024 · 8.38
Debt ≤ 1 year
€85k▲
2024 · €78k
Debt > 1 year
€1k▼
2024 · €162k
Income taxes
€20k▲
2024 · €7k
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 · 50 lines
Balance sheet
Code20242025
Assets
Total assets20/58€484k€337k▼
Fixed assets21/28€231k€14k▼
Tangible fixed assets22/27€231k€14k▼
Land and buildings22€225k-
Furniture and vehicles24€6k€14k▲
Financial fixed assets28€70€70=
Current assets29/58€254k€323k▲
Amounts receivable within one year40/41€205k€174k▼
Trade receivables40€62k€14k▼
Other amounts receivable41€142k€160k▲
Cash at bank and in hand54/58€47k€134k▲
Deferred charges and accrued income490/1€2k€15k▲
Equity and liabilities
Total equity and liabilities10/49€484k€337k▼
Equity10/15€239k€251k▲
Contributions10/11€6k€6k=
Reserves13€162k€174k▲
Distributable reserves133€162k€174k▲
Profit (loss) carried forward14€70k€70k=
Amounts payable17/49€245k€86k▼
Amounts payable after more than one year17€162k€1k▼
Financial debts170/4€153k-
Other amounts payable178/9€9k€1k▼
Amounts payable within one year42/48€78k€85k▲
Current portion of amounts payable after more than one year42€28k-
Trade debts44€7k€2k▼
Suppliers440/4€7k€2k▼
Taxes, remuneration and social security45€18k€46k▲
Taxes450/3€18k€46k▲
Other amounts payable47/48€25k€36k▲
Accrued charges and deferred income492/3€6k€509▼
Income statement
Code20242025
Non-recurring operating income76A€3k€89k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€27k€3k▼
Other operating charges640/8€4k€35k▲
Gross operating margin9900€63k€108k▲
Operating profit (loss)9901€32k€71k▲
Financial income75/76B€8k€2k▼
Recurring financial income75€8k€2k▼
Financial charges65/66B€7k€6k▼
Recurring financial charges65€7k€6k▼
Profit (loss) for the period before taxes9903€33k€67k▲
Income taxes67/77€7k€20k▲
Profit (loss) for the period9904€26k€47k▲
Profit (loss) for the period to be appropriated9905€26k€47k▲
Appropriation of the result
Profit (loss) to be appropriated9906€96k€117k▲
Profit (loss) brought forward from the previous period14P€70k€70k=
Transfer from equity791/2-€35k
Transfer to equity691/2€26k€47k▲
To other reserves6921€26k€47k▲
Profit to be distributed694/7-€35k
Return on contributions (dividend)694-€35k
The notes to these accounts (8 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €33k | €7k | €4k | €3k | €89k | ▲ 3,089% |
| Remuneration, social security and pensions62 | €2k | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €47k | €30k | €27k | €27k | €3k | ▼ 90.2% |
| Other operating charges640/8 | €5k | €4k | €3k | €4k | €35k | ▲ 856% |
| Non-recurring operating charges66A | €1k | - | - | - | - | - |
| Gross operating margin9900 | €146k | €131k | €17k | €63k | €108k | ▲ 72.3% |
| Operating profit (loss)9901 | €92k | €97k | €-14k | €32k | €71k | ▲ 120% |
| Financial income75/76B | €2k | €139 | €170 | €8k | €2k | ▼ 70.1% |
| Recurring financial income75 | €2k | €139 | €170 | €8k | €2k | ▼ 70.1% |
| Financial charges65/66B | €7k | €7k | €7k | €7k | €6k | ▼ 16.9% |
| Recurring financial charges65 | €7k | €7k | €7k | €7k | €6k | ▼ 16.9% |
| Profit (loss) for the period before taxes9903 | €86k | €91k | €-21k | €33k | €67k | ▲ 105% |
| Income taxes67/77 | €11k | €26k | €207 | €7k | €20k | ▲ 190% |
| Profit (loss) for the period9904 | €76k | €64k | €-21k | €26k | €47k | ▲ 82.2% |
| Profit (loss) for the period to be appropriated9905 | €76k | €64k | €-21k | €26k | €47k | ▲ 82.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €516k | €548k | €509k | €484k | €337k | ▼ 30.4% |
| Fixed assets21/28 | €313k | €285k | €258k | €231k | €14k | ▼ 94.0% |
| Tangible fixed assets22/27 | €313k | €285k | €258k | €231k | €14k | ▼ 94.0% |
| Land and buildings22 | €298k | €273k | €249k | €225k | - | - |
| Plant, machinery and equipment23 | €0 | - | - | - | - | - |
| Furniture and vehicles24 | €15k | €12k | €9k | €6k | €14k | ▲ 127% |
| Financial fixed assets28 | €70 | €70 | €70 | €70 | €70 | = |
| Current assets29/58 | €203k | €263k | €251k | €254k | €323k | ▲ 27.4% |
| Amounts receivable within one year40/41 | €151k | €252k | €186k | €205k | €174k | ▼ 14.9% |
| Trade receivables40 | €139k | €252k | €52k | €62k | €14k | ▼ 77.4% |
| Other amounts receivable41 | €12k | €137 | €135k | €142k | €160k | ▲ 12.4% |
| Cash at bank and in hand54/58 | €50k | €9k | €63k | €47k | €134k | ▲ 183% |
| Deferred charges and accrued income490/1 | €2k | €2k | €2k | €2k | €15k | ▲ 806% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €516k | €548k | €509k | €484k | €337k | ▼ 30.4% |
| Equity10/15 | €170k | €234k | €213k | €239k | €251k | ▲ 5.1% |
| Contributions10/11 | €6k | €6k | €6k | €6k | €6k | = |
| Reserves13 | €72k | €136k | €136k | €162k | €174k | ▲ 7.5% |
| Non-distributable reserves130/1 | €2k | €2k | - | - | - | - |
| Reserves not available under the articles1311 | €2k | €2k | - | - | - | - |
| Distributable reserves133 | €70k | €135k | €136k | €162k | €174k | ▲ 7.5% |
| Profit (loss) carried forward14 | €91k | €91k | €70k | €70k | €70k | = |
| Amounts payable17/49 | €346k | €314k | €296k | €245k | €86k | ▼ 64.9% |
| Amounts payable after more than one year17 | €238k | €217k | €190k | €162k | €1k | ▼ 99.4% |
| Financial debts170/4 | €238k | €208k | €181k | €153k | - | - |
| Other amounts payable178/9 | - | €9k | €9k | €9k | €1k | ▼ 88.9% |
| Amounts payable within one year42/48 | €108k | €94k | €102k | €78k | €85k | ▲ 8.5% |
| Current portion of amounts payable after more than one year42 | €32k | €28k | €27k | €28k | - | - |
| Trade debts44 | €15k | €11k | €17k | €7k | €2k | ▼ 65.2% |
| Suppliers440/4 | €15k | €11k | €17k | €7k | €2k | ▼ 65.2% |
| Taxes, remuneration and social security45 | €21k | €48k | €37k | €18k | €46k | ▲ 151% |
| Taxes450/3 | €21k | €48k | €37k | €18k | €46k | ▲ 151% |
| Other amounts payable47/48 | €40k | €6k | €21k | €25k | €36k | ▲ 44.9% |
| Accrued charges and deferred income492/3 | - | €3k | €4k | €6k | €509 | ▼ 90.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €76k | €64k | €-21k | €26k | €47k | ▲ 82.2% |
| + Depreciation and write-downs630 | €47k | €30k | €27k | €27k | €3k | ▼ 90.2% |
| Operating cash flow (approximation) | €122k | €95k | €7k | €53k | €50k | ▼ 6.0% |
| Investment in fixed assets (approximation) | - | €-2k | €0 | €0 | €214k | - |
| Change in cash | - | €-41k | €55k | €-16k | €87k | ▲ 640% |
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
2026
15-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
28-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €26k
Net result €26k after one loss-making year.
25-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
29-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Equity above €200kEq €234k ▲37.9%
3 profitable years in a row build equity to €234k.
30-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Equity above €150kEq €170k ▲26.5%
2 profitable years in a row build equity to €170k.
16-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Back to profitnet €125k
Net result €125k after one loss-making year.
31-12
Financial
Equity above €100kEq €134k ▲35%
Equity rises from €99k to €134k.
13-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 13 days late
Show earlier events
2019
31-12
Financial
Weakest financial yearnet €-30k
Net result drops to €-30k, the lowest in the series; recovery starts the following year.
06-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 6 days late
2018
11-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
13-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Willebroek · 1 establishment unit since 2010
Ground area
1,205 m²
Building footprint
172 m²
Parcel 12013A0144/00H002, Flanders. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Kerkweg 5, 2830 Willebroek
since 20102.192.542.369
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12013A0144/00H002 | Flanders | 1,205 m² | 1 · 172 m² | - |
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 29,779 companies in sector 41001 we hold annual accounts for 16,044. 11,495 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
Founded20-09-2010
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
43331Floor and wall tiling
Contact
Phone
000000000Willebroek
Scores and ratios are computed by Checked and are not a credit decision.