MDSH (0823.924.136): annual accounts, directors and company register

MDSH

Ixelles ·KBO/BCE: BE 0823.924.136

75-100	Excellent	under 0.55%
60-74	Healthy	0.55% to 1.5%
45-59	Fair	1.5% to 4.2%
25-44	Weak	4.2% to 15.0%
0-24	Critical	over 15.0%

Group	Expected	Actual
1	0.2%	0.2%
2	0.3%	0.5%
3	0.5%	0.6%
4	0.7%	0.8%
5	0.9%	0.9%
6	1.3%	1.5%
7	1.6%	1.8%
8	1.8%	1.8%
9	3.0%	3.1%
10	5.6%	6.2%

Company	Total assets	Gross margin	Solvency	Staff
MDSH Ixelles	€92,229	€4,192	89.3%	-
ODUXIO Ixelles	€133,570	-€37,972	-113.8%	-
TESPEBA Frasnes-lez-Anvaing	€130,845	€13,311	86.5%	-
PROMISC Ramillies	€82,953	-€3,459	-6.8%	-
SAINT-REMY BIOMEDICALS Grez-Doiceau	€55,473	€13,125	-80.9%	-
HUMAN WAVES Charleroi	€171,624	€11,365	77.5%	-
AJD Services Herve	€61,086	€15,342	8.3%	-

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010
Balance sheet: assets
Total assets`20/58`	92,229	88,523	159,571	227,943	271,023	284,943	275,156	258,360	258,151	130,545	191,818	133,620	208,382	174,943	146,740	121,201
Fixed assets`21/28`	1,339	25	121	760	1,398	25	25	25	25	25	25	31,374	4,770	3,920	4,308	487
Tangible fixed assets`22/27`	1,314	-	96	735	1,373	-	-	-	-	-	-	497	995	145	533	487
Land and buildings`22`	-	-	-	-	-	-	-	-	-	-	-	-	995	-	-	-
Plant, machinery and equipment`23`	1,314	-	96	735	1,373	-	-	-	-	-	-	497	-	145	533	487
Financial fixed assets`28`	25	25	25	25	25	25	25	25	25	25	25	30,877	3,775	3,775	3,775	-
Current assets`29/58`	90,890	88,498	159,449	227,183	269,625	284,918	275,131	258,335	258,126	130,520	191,793	102,246	203,612	171,023	142,432	120,714
Amounts receivable within one year`40/41`	4,538	118	19,211	-	3,182	9,317	-	45	13,127	117	-	-	609	16,542	27,863	50
Trade receivables`40`	4,538	-	19,211	-	-	9,317	-	-	13,127	-	-	-	540	16,542	27,863	50
Other amounts receivable`41`	-	118	-	-	3,182	-	-	45	-	117	-	-	69	-	-	-
Current investments`50/53`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	30,000
Cash at bank and in hand`54/58`	84,776	88,381	140,234	227,183	266,443	275,601	275,131	258,290	244,999	130,403	191,793	102,246	202,937	154,379	114,418	90,609
Deferred charges and accrued income`490/1`	1,575	-	5	-	-	-	-	-	-	-	-	-	66	102	151	55
Balance sheet: equity and liabilities
Total equity and liabilities`10/49`	92,229	88,523	159,571	227,943	271,023	284,943	275,156	258,360	258,151	130,545	191,818	133,620	208,382	174,943	146,740	121,201
Equity`10/15`	82,373	82,856	14,260	92,260	160,260	160,260	160,260	160,856	160,856	82,310	14,260	86,364	14,260	140,682	76,370	14,260
Contributions`10/11`	12,400	12,400	12,400	12,400	12,400	12,400	12,400	12,400	12,400	12,400	12,400	12,400	12,400	12,400	12,400	12,400
Issued capital`100`	-	-	-	-	-	-	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600
Uncalled capital`101`	-	-	-	-	-	-	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200	6,200
Reserves`13`	69,973	63,360	1,860	79,860	147,860	147,860	147,860	147,860	147,860	69,860	1,860	1,860	1,860	128,282	63,970	1,860
Non-distributable reserves`130/1`	-	-	-	1,860	1,860	1,860	-	-	-	-	-	-	-	-	-	-
Legal reserve`130`	-	-	-	-	-	-	1,860	1,860	1,860	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	-	-	-	-	-	-	-	-	-	-
Distributable reserves`133`	69,973	63,360	1,860	78,000	146,000	146,000	146,000	146,000	146,000	68,000	-	-	-	126,422	62,110	-
Profit (loss) carried forward`14`	-	7,096	-	-	-	-	-	596	596	50	-	72,104	-	-	-	-
Amounts payable`17/49`	9,856	5,667	145,311	135,683	110,763	124,683	114,896	97,504	97,295	48,235	177,558	47,256	194,122	34,261	70,370	106,941
Amounts payable within one year`42/48`	9,856	5,667	145,298	135,683	110,763	124,683	114,757	97,375	97,166	48,121	177,464	47,161	194,122	34,261	70,370	106,941
Trade debts`44`	17	-	870	1,922	934	750	750	1,983	1,448	750	1,507	1,476	1,876	720	1,228	1,335
Suppliers`440/4`	17	-	870	1,922	934	750	750	1,983	1,448	750	1,507	1,476	1,876	720	1,228	1,335
Taxes, remuneration and social security`45`	1,633	5,051	9,695	14,957	7,213	13,163	3,573	1,034	92,288	45,759	36,972	42,406	6,587	30,323	66,156	38,322
Taxes`450/3`	1,633	5,051	9,695	14,957	7,213	13,163	3,573	1,034	92,288	45,759	36,972	37,786	4,280	30,323	66,156	38,322
Remuneration and social security`454/9`	-	-	-	-	-	-	-	-	-	-	-	4,620	2,307	-	-	-
Other amounts payable`47/48`	8,205	617	134,733	118,803	102,616	110,770	110,435	94,358	3,430	1,612	138,985	3,279	185,659	3,218	2,986	67,284
Accrued charges and deferred income`492/3`	-	-	13	-	-	-	139	129	129	114	94	95	-	-	-	-
Income statement
Non-recurring operating income`76A`	250	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gross operating margin`9900`	4,192	94,343	172,081	149,174	127,702	141,081	143,527	121,800	130,646	112,401	106,139	103,289	86,408	93,770	87,897	105,532
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets`630`	50	96	638	638	542	-	-	-	-	-	498	498	643	388	388	243
Other operating charges`640/8`	400	387	384	348	348	348	348	348	348	360	437	449	436	462	89	348
Non-recurring operating charges`66A`	-	-	-	-	-	-	-	-	-	-	9,852	-	-	-	-	-
Operating profit (loss)`9901`	3,743	93,860	171,058	148,188	126,812	140,734	143,180	121,452	130,298	112,041	105,204	102,342	85,329	92,920	87,420	104,941
Financial income`75/76B`	15	29	15	1	0	0	-	1	-	6	3,384	6,244	368	699	3,938	107
Recurring financial income`75`	15	29	15	1	0	0	-	1	-	6	3,384	6,244	368	699	3,938	107
Financial charges`65/66B`	407	233	209	167	149	0	139	270	148	115	95	775	96	133	13	24
Recurring financial charges`65`	407	233	209	167	149	0	139	270	148	115	95	775	96	133	13	24
Profit (loss) for the period before taxes`9903`	3,350	93,656	170,864	148,023	126,663	140,733	143,040	121,184	130,150	111,932	98,641	107,811	85,601	93,486	91,345	105,024
Income taxes`67/77`	36	25,060	38,072	32,414	26,818	30,356	33,534	26,826	49,992	42,270	33,554	34,095	27,821	27,562	27,623	35,880
Profit (loss) for the period`9904`	3,314	68,596	132,792	115,609	99,845	110,378	109,507	94,358	80,158	69,662	65,087	73,716	57,780	65,924	63,722	69,144
Profit (loss) for the period to be appropriated`9905`	3,314	68,596	132,792	115,609	99,845	110,378	109,507	94,358	80,158	69,662	65,087	73,716	57,780	65,924	63,722	69,144
Appropriation of the result
Profit (loss) to be appropriated`9906`	3,314	68,596	132,792	115,609	99,845	110,378	110,103	94,954	80,208	69,662	137,192	73,716	57,780	65,924	63,722	69,144
Transfer from equity`791/2`	-	-	78,000	68,000	-	-	-	-	-	-	-	-	126,422	-	-	-
Transfer to equity`691/2`	-	61,500	-	-	-	-	-	-	78,000	68,000	-	-	-	64,312	62,110	1,860
To the legal reserve`6920`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,860
To other reserves`6921`	-	61,500	-	-	-	-	-	-	78,000	68,000	-	-	-	64,312	62,110	-
Profit to be distributed`694/7`	3,314	-	210,792	183,609	99,845	110,378	110,103	94,358	1,612	1,612	137,192	1,612	184,202	1,612	1,612	67,284
Return on contributions (dividend)`694`	-	-	210,792	183,609	99,845	110,378	110,103	94,358	1,612	1,612	137,192	1,612	184,202	1,612	1,612	67,284
Directors or managers`695`	3,314	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
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Financial year	Type	Filed	Reference	Document
31-12-2025	micro format	12-05-2026	2026-00110710	PDF
31-12-2024	micro format	02-10-2025	2025-00529139	PDF
31-12-2023	micro format	25-03-2024	2024-00050161	PDF
31-12-2022	micro format	08-05-2023	2023-00083742	PDF
31-12-2021	micro format	25-05-2022	2022-20035860	PDF
31-12-2020	micro format	19-05-2021	2021-14500306	PDF
31-12-2019	micro format	13-05-2020	2020-12000241	PDF
31-12-2018	micro format	26-03-2019	2019-07900150	PDF
31-12-2017	micro format	16-04-2018	2018-09900395	PDF
31-12-2016	micro format	02-05-2017	2017-11000026	PDF
31-12-2015	full format	29-04-2016	2016-11100082	PDF
31-12-2014	full format	04-05-2015	2015-11100099	PDF
31-12-2013	full format	13-05-2014	2014-12100060	PDF
31-12-2012	full format	23-05-2013	2013-12800059	PDF
31-12-2011	full format	15-06-2012	2012-17500048	PDF
31-12-2010	full format	14-06-2011	2011-15900039	PDF

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010
EBITDA	3,793	93,956	171,696	148,827	127,354	-	-	-	-	-	105,702	102,840	85,972	93,308	87,808	105,184
Cash flow	3,364	68,692	133,430	116,247	100,387	-	-	-	-	-	65,585	74,214	58,423	66,312	64,110	69,387
Investment in fixed assets (approximation)	1,364	0	0	0	1,915	-	-	-	-	-	-30,851	27,102	1,493	0	4,209	730
Change in cash	-3,604	-51,853	-86,949	-39,259	-9,158	470	16,842	13,291	114,596	-61,390	89,547	-100,691	48,558	39,961	23,809	-
Working capital	81,034	82,831	14,152	91,500	158,862	160,235	160,374	160,960	160,960	82,399	14,329	55,085	9,490	136,762	72,062	13,773
Solvency	89.3%	93.6%	8.9%	40.5%	59.1%	56.2%	58.2%	62.3%	62.3%	63.1%	7.4%	64.6%	6.8%	80.4%	52.0%	11.8%
Current ratio	9.22	15.62	1.10	1.67	2.43	2.29	2.40	2.65	2.66	2.71	1.08	2.17	1.05	4.99	2.02	1.13
Debt to equity	0.12	0.07	10.19	1.47	0.69	0.78	0.72	0.61	0.60	0.59	12.45	0.55	13.61	0.24	0.92	7.50
ROE	4.0%	82.8%	931.2%	125.3%	62.3%	68.9%	68.3%	58.7%	49.8%	84.6%	456.4%	85.4%	405.2%	46.9%	83.4%	484.9%
ROA	3.6%	77.5%	83.2%	50.7%	36.8%	38.7%	39.8%	36.5%	31.1%	53.4%	33.9%	55.2%	27.7%	37.7%	43.4%	57.0%
Interest coverage	9.31	over 100	over 100	over 100	over 100	-	-	-	-	-	-	-	-	-	-	-

Item	2025	2024	2023	2022	2021
Tangible fixed assets	€1,364	-	-	-	€1,915
Depreciation and write-downs of the year	€50	€96	€638	€638	€542

Overview

Lifetime

Key points

Equity

Result

Turnover

Investments

Board

Position in the sector

Checked score

Score breakdown

Comparable companies, two years later

Credit verdict

Signals

Board and ownership

Recent changes

Comparable companies

Official details

Annual accounts 2025

Insights on MDSH

Financials

Annual accounts 2025

Balance sheet

Change in equityin euro

Change in cashin euro

Position in the sector

Solvency89.3%

Current ratio9.22

Return on assets3.6%

Filed annual accounts

Filings

Key figures and ratios

Investments

Insights on MDSH

Board & ownership

Board

Mandates through the years

Control

Capital

Articles of association

Capital transactions

Network & group

No group

Timeline

Timeline

History

Company details

Identity

Activities

Registered office and establishments

Buildings and parcels at the address

Location

Parcels