Summary
MGD Services 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 €286,172 and a net result of €99,636. Equity is growing by ~35.5% per year across the filed fiscal years. Its solvency ranks better than 9% of 5651 sector peers (fiscal year 2025). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Overview
What they do
Activities of holding companies
NACE 64210Holdings NACE 64200
#10 company by total assets in Ypres, Finance and insurance sector1 site
How big
€5.3mtotal assets 2025
- Equity
- €286,172
- Profit
- €99,636
Turnover not published (abridged schema)
Financially healthy?
Financial institution: outside the modelProbability: sector outside the model
Who decides
- Holdings
- 1
Accounts filed 31 d late0 of 1 deed read
SignalsFiled after the deadlineShow the evidence
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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 · 5 filingsDeviation from the deadline
2025
31 d late
2024
29 d late
2023
30 d late
2022
29 d late
2021
31 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 30 days after the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% of the sector filed late.
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. Usually files around 31 August (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
- Annual accounts filedfiscal year 2025 · abbreviated…
- Liquidity times 5current ratio 7.09
- Equity above €200,000Eq €286,172 ▲53.4%
Financials
Fiscal year 2025Total assets €5.3mProfit €99,636Solvency 5.4%Liquidity 7.09
Total assets
€5.3m▼ 4.5%
2021 - 2025
Net result
€99,636▼ 46.3%
2021 - 2025
Equity
€286,172▲ 53.4%
2021 - 2025
Solvency
5.4%▲ 2.0pp
2021 - 2025
Financials · fiscal year 2025, abbreviated schema
Trend over the years
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€0.1m-€0.2m▲ 76.3%€0.2m▲ 4.3%€0.2m▲ 34.7%€0.1m▼ 42.2%
Net result€0.08mabove the sector's middle half-€0.1mabove the sector's middle half▲ 73.2%€0.1mabove the sector's middle half▲ 5.1%€0.2mwithin the sector's middle half▲ 30.4%€0.1mwithin the sector's middle half▼ 46.3%
Equity€0.08mwithin the sector's middle half-€0.2mwithin the sector's middle half▲ 171%€0.4mwithin the sector's middle half▲ 66.3%€0.2mbelow the sector's middle half▼ 47.7%€0.3mwithin the sector's middle half▲ 53.4%
Total assets€0.1mwithin the sector's middle half-€0.3mwithin the sector's middle half▲ 123%€0.5mwithin the sector's middle half▲ 51.3%€5.6mabove the sector's middle half▲ 1,076%€5.3mabove the sector's middle half▼ 4.5%
Debt€0.06m-€0.1m▲ 61.2%€0.1m▲ 18.5%€5.4m▲ 4,527%€5.0m▼ 6.5%
Working capital€0.05mwithin the sector's middle half-€0.2mabove the sector's middle half▲ 313%€0.3mabove the sector's middle half▲ 79.4%€0.2mwithin the sector's middle half▼ 47.7%€0.3mabove the sector's middle half▲ 60.6%
Solvency56.5%within the sector's middle half-68.6%within the sector's middle half▲ 12.1pp75.4%within the sector's middle half▲ 6.8pp3.4%below the sector's middle half▼ 72.1pp5.4%below the sector's middle half▲ 2.0pp
Current ratio1.75within the sector's middle half-2.93within the sector's middle half▲ 1.183.93within the sector's middle half▲ 0.991.45within the sector's middle half▼ 2.487.09above the sector's middle half▲ 5.64
Return on assets (ROA)55.8%above the sector's middle half-43.3%above the sector's middle half▼ 12.5pp30.1%above the sector's middle half▼ 13.2pp3.3%within the sector's middle half▼ 26.7pp1.9%within the sector's middle half▼ 1.5pp
Staff (FTE)0within the sector's middle half0within the sector's middle half
above
within
below
the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result and balance sheet
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 42% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €5.3m
Fixed assets
€5.0m ▼ 0.2%
Current assets
€332,727 ▼ 42.0%
Equity and liabilities €5.3m
Equity
€286,172 ▲ 53.4%
Debt
€5.0m ▼ 6.5%
Debt's share of the balance-sheet total falls from 96.6% to 94.6%. Equity is higher and debt is lower.
Key figures and ratios
Key figures and ratios
ROE
34.8%▼
2024 · 99.5%
Debt ≤ 1 year
€46,926▼
2024 · €396,071
Debt > 1 year
€5.0m=
2024 · €5.0m
Income taxes
€34,987▼
2024 · €66,067
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,848 | €8,219 | €8,219 | €8,219 | €8,219 | = |
| Other operating charges640/8 | €111 | €272 | €499 | €576 | €1,139 | ▲ 97.5% |
| Gross operating margin9900 | €108,027 | €184,916 | €192,682 | €256,555 | €152,472 | ▼ 40.6% |
| Operating profit (loss)9901 | €100,069 | €176,425 | €183,964 | €247,759 | €143,115 | ▼ 42.2% |
| Financial income75/76B | - | - | €1,995 | €5,692 | €4,011 | ▼ 29.5% |
| Recurring financial income75 | - | - | €1,995 | €5,692 | €4,011 | ▼ 29.5% |
| Financial charges65/66B | €969 | €923 | €1,230 | €1,849 | €12,503 | ▲ 576% |
| Recurring financial charges65 | €969 | €923 | €1,230 | €1,849 | €12,503 | ▲ 576% |
| Profit (loss) for the period before taxes9903 | €99,099 | €175,502 | €184,729 | €251,603 | €134,623 | ▼ 46.5% |
| Income taxes67/77 | €20,963 | €40,142 | €42,471 | €66,067 | €34,987 | ▼ 47.0% |
| Profit (loss) for the period9904 | €78,137 | €135,361 | €142,258 | €185,535 | €99,636 | ▼ 46.3% |
| Profit (loss) for the period to be appropriated9905 | €78,137 | €135,361 | €142,258 | €185,535 | €99,636 | ▼ 46.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €0.1m | €0.3m | €0.5m | €5.6m | €5.3m | ▼ 4.5% |
| Fixed assets21/28 | €0.03m | €0.03m | €0.02m | €5.0m | €5.0m | ▼ 0.2% |
| Tangible fixed assets22/27 | €0.03m | €0.03m | €0.02m | €0.009m | €371 | ▼ 95.7% |
| Furniture and vehicles24 | €0.03m | €0.03m | €0.02m | €0.009m | €371 | ▼ 95.7% |
| Financial fixed assets28 | - | - | - | €5.0m | €5.0m | = |
| Current assets29/58 | €0.1m | €0.3m | €0.5m | €0.6m | €0.3m | ▼ 42.0% |
| Amounts receivable within one year40/41 | €0.01m | €0.08m | €0.01m | €0.1m | €0.02m | ▼ 79.4% |
| Trade receivables40 | €0.01m | €0.08m | €0.01m | €0.1m | €0.02m | ▼ 81.6% |
| Other amounts receivable41 | - | - | - | - | €0.002m | - |
| Current investments50/53 | - | - | €0.2m | €0.3m | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €0.09m | €0.2m | €0.3m | €0.2m | €0.3m | ▲ 38.1% |
| Deferred charges and accrued income490/1 | - | €0.002m | €0.002m | €0 | €0.002m | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €0.1m | €0.3m | €0.5m | €5.6m | €5.3m | ▼ 4.5% |
| Equity10/15 | €0.08m | €0.2m | €0.4m | €0.2m | €0.3m | ▲ 53.4% |
| Contributions10/11 | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | = |
| Reserves13 | €0.08m | €0.2m | €0.4m | €0.2m | €0.3m | ▲ 53.7% |
| Distributable reserves133 | €0.08m | €0.2m | €0.4m | €0.2m | €0.3m | ▲ 53.7% |
| Profit (loss) carried forward14 | - | - | - | €0 | €0 | - |
| Amounts payable17/49 | €0.06m | €0.1m | €0.1m | €5.4m | €5.0m | ▼ 6.5% |
| Amounts payable after more than one year17 | - | - | - | €5.0m | €5.0m | = |
| Other amounts payable178/9 | - | - | - | €5.0m | €5.0m | = |
| Amounts payable within one year42/48 | €0.06m | €0.1m | €0.1m | €0.4m | €0.05m | ▼ 88.2% |
| Trade debts44 | €0.001m | €0.003m | €0.001m | €0.001m | €0.001m | ▲ 25.2% |
| Suppliers440/4 | €0.001m | €0.003m | €0.001m | €0.001m | €0.001m | ▲ 25.2% |
| Taxes, remuneration and social security45 | €0.03m | €0.07m | €0.09m | €0.07m | €0.01m | ▼ 79.3% |
| Taxes450/3 | €0.03m | €0.07m | €0.09m | €0.07m | €0.01m | ▼ 79.3% |
| Remuneration and social security454/9 | €0.003m | €0.003m | €0 | - | - | - |
| Other amounts payable47/48 | €0.03m | €0.02m | €0.02m | €0.3m | €0.03m | ▼ 90.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.08m | €0.1m | €0.1m | €0.2m | €0.1m | ▼ 46.3% |
| + Depreciation and write-downs630 | €0.008m | €0.008m | €0.008m | €0.008m | €0.008m | = |
| Operating cash flow (approximation) | €0.09m | €0.1m | €0.2m | €0.2m | €0.1m | ▼ 44.3% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€5.0m | €0 | ▲ 100% |
| Change in cash | - | €0.1m | €0.09m | -€0.06m | €0.09m | ▲ 233% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Comparable companies
Similar companies · same sector, comparable size
GOA
BE 0761.727.736
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KRIS DE KORT
BE 0808.832.718
Antwerpen · Eq €286,095
TCS Consult
BE 0808.031.774
Waregem · Eq €286,079
EBUCON
BE 0543.993.816
Damme · Eq €286,049
STME
BE 0894.329.904
Lievegem · Eq €285,988
Of 24,727 companies in this sector we hold annual accounts for 19,807. 13,760 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Board & ownership
1 holding
Directors
Directors
No directors read yet: 0 of 1 Gazette act processed. See the function holders in the CBE →
Structure & network
Owners and holdings
1 holdingOwners 0
The accounts to 31-12-2025 list no shareholders, and no other source names one.
Holdings 1
-
100%
According to the 2025 annual accounts of MGD Services and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No directors read yet: 0 of 1 Gazette act processed.
Timeline
9 eventsLatest 31-08-2026Next filing 31-07-2027
History
Acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 31 days late
2025
31-12
Financial
Liquidity times 5current ratio 7.09
Current ratio from 1.45 to 7.09; short-term debt falls from €396,071 to €46,926.
31-12
Financial
Equity above €200,000Eq €286,172 ▲53.4%
5 profitable years in a row build equity to €286,172.
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 29 days late
2024
31-12
Financial
Highest result since 2021net €185,535 ▲30.4%
Operating result €247,759, net result €185,535, both a record.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 29 days late
2022
31-12
Financial
Equity above €200,000Eq €214,497 ▲171%
2 profitable years in a row build equity to €214,497.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Company details
Private limited company · founded 29-12-2020Year ends 31-12Peppol reachable1 site
Register details
Identification
Legal formPrivate limited company
Founded29-12-2020
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0760645591
Registered
04-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Sites & property
Location & real-estate footprint
Registered office, Ieper · 1 establishment unit since 2020
Ground area
1,217 m²
Building footprint
196 m²
Volume, LiDAR
974 m³
Parcel 33011C0029/00W000, Flanders · tallest building 7.4 m, ±2 floors. Linked by address, not a title deed.
9
companies at this address
See who is registered here
1 establishment unit
MGD Services
since 2020unit no. 2.311.352.424
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 33011C0029/00W000 | Flanders | 1,217 m² | 1 · 196 m² | 7.4 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.
Go further with this company
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