MGMD
ActiveSummary
The computed 12-month bankruptcy probability of MGMD is 6.4% (elevated). The annual accounts of MGMD for fiscal year 2025 show a net loss of 83% of total assets and of 62% of the equity at the start of that year. The 2025 annual accounts show equity of €11,062 and a net result of -€18,338. Equity is shrinking by ~12.5% per year across the filed fiscal years. Its solvency ranks better than 67% of 13604 sector peers (fiscal year 2025). The company has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-100
Solvency75▼-23
Growth32=
Track record100
Bankruptcy probability, 12 months
6.4%
Elevated
0%0.5%1.5%4%10%≥ 25%
No publishable credit limit; credit only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity ample (current ratio 2.01 against 3.74 in 2024; short-term debt: 49.9% and cash: 85.5% of total assets), and 49.9% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
+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 56
Relative position
BE, all sectors
reference
Food and beverage service activities (NACE 56)
about 206% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
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 2025Solvency, return and age of the figures
Solvency
50.1%
Return on assets
-83.1%
Age of the figures
9 mo
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 · 7 filingsDeviation from the deadline
2025
31 d late
2024
26 d late
2023
30 d early
2022
14 d early
2021
33 d early
2020
29 d early
2019
29 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 11 days before the deadline; the sector median for financial year 2024 is 6 days after the deadline, and 52% 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 17 July (4 of the last 5 filed years within 40 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€11,062▼ 62.4%
2024 · €29,399
Total assets
€22,063▼ 45.0%
2024 · €40,126
Net result
-€18,338
2024 · €14,021
Working capital
€11,062▼ 62.4%
2024 · €29,399
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 56, Food and beverage service activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€7,927▼ 3.7%€5,047-€5,792€14,118-€18,295
Net result-€7,952below the sector's middle half▼ 2.0%€4,934within the sector's middle half-€6,041within the sector's middle half€14,021within the sector's middle half-€18,338below the sector's middle half
Equity€16,484within the sector's middle half▼ 32.5%€21,419within the sector's middle half▲ 29.9%€15,378within the sector's middle half▼ 28.2%€29,399within the sector's middle half▲ 91.2%€11,062within the sector's middle half▼ 62.4%
Total assets€17,427below the sector's middle half▼ 56.4%€41,585below the sector's middle half▲ 139%€28,330below the sector's middle half▼ 31.9%€40,126below the sector's middle half▲ 41.6%€22,063below the sector's middle half▼ 45.0%
Debt€943▼ 93.9%€20,166▲ 2,039%€12,952▼ 35.8%€10,727▼ 17.2%€11,002▲ 2.6%
Working capital€16,484within the sector's middle half▼ 32.5%€21,419within the sector's middle half▲ 29.9%€15,378within the sector's middle half▼ 28.2%€29,399within the sector's middle half▲ 91.2%€11,062within the sector's middle half▼ 62.4%
Solvency94.6%above the sector's middle half▲ 33.4pp51.5%within the sector's middle half▼ 43.1pp54.3%within the sector's middle half▲ 2.8pp73.3%above the sector's middle half▲ 19.0pp50.1%within the sector's middle half▼ 23.1pp
Current ratio18.48above the sector's middle half▲ 15.912.06within the sector's middle half▼ 16.422.19above the sector's middle half▲ 0.133.74above the sector's middle half▲ 1.552.01within the sector's middle half▼ 1.74
Return on assets (ROA)-45.6%below the sector's middle half▼ 26.1pp11.9%within the sector's middle half▲ 57.5pp-21.3%below the sector's middle half▼ 33.2pp34.9%above the sector's middle half▲ 56.3pp-83.1%below the sector's middle half▼ 118.1pp
above
within
below
the middle half (P25 to P75) of NACE 56, Food and beverage service activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €18,295 after €14,118 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €22,063
Equity
€11,062 ▼ 62.4%
Debt
€11,002 ▲ 2.6%
Debt's share of the balance-sheet total rises from 26.7% to 49.9%. Equity is lower and debt is higher.
Key figures and ratios
Debt to equity
0.99▲
2024 · 0.36
ROE
-165.8%▼
2024 · 47.7%
Debt ≤ 1 year
€11,002▲
2024 · €10,727
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,597 companies that looked in July 2024 the way this one looks now, 2.8% went bankrupt within 24 months and 87% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a loss of 10% of the balance sheet or more
2.8%
went bankrupt
9.2%
stopped otherwise
87%
still going
A further 0.8% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 6.4% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 3,597 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Other operating charges640/8 | €6,157 | €756 | €654 | €662 | €680 | ▲ 2.6% |
| Gross operating margin9900 | -€1,770 | €5,803 | -€5,138 | €14,780 | -€17,615 | ▼ 219% |
| Operating profit (loss)9901 | -€7,927 | €5,047 | -€5,792 | €14,118 | -€18,295 | ▼ 230% |
| Financial income75/76B | €8 | €10 | €0 | €0 | €0 | ▲ 90.0% |
| Recurring financial income75 | €8 | €10 | €0 | €0 | €0 | ▲ 90.0% |
| Financial charges65/66B | €34 | €122 | €249 | €97 | €43 | ▼ 55.6% |
| Recurring financial charges65 | €34 | €122 | €249 | €97 | €43 | ▼ 55.6% |
| Profit (loss) for the period before taxes9903 | -€7,952 | €4,934 | -€6,041 | €14,021 | -€18,338 | ▼ 231% |
| Profit (loss) for the period9904 | -€7,952 | €4,934 | -€6,041 | €14,021 | -€18,338 | ▼ 231% |
| Profit (loss) for the period to be appropriated9905 | -€7,952 | €4,934 | -€6,041 | €14,021 | -€18,338 | ▼ 231% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €17,427 | €41,585 | €28,330 | €40,126 | €22,063 | ▼ 45.0% |
| Current assets29/58 | €17,427 | €41,585 | €28,330 | €40,126 | €22,063 | ▼ 45.0% |
| Amounts receivable within one year40/41 | €1,175 | €25,948 | €4,138 | €2,351 | €3,210 | ▲ 36.5% |
| Trade receivables40 | - | €25,729 | €3,920 | - | - | - |
| Other amounts receivable41 | €1,175 | €218 | €218 | €2,351 | €3,210 | ▲ 36.5% |
| Cash at bank and in hand54/58 | €16,253 | €15,637 | €24,192 | €37,774 | €18,853 | ▼ 50.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €17,427 | €41,585 | €28,330 | €40,126 | €22,063 | ▼ 45.0% |
| Equity10/15 | €16,484 | €21,419 | €15,378 | €29,399 | €11,062 | ▼ 62.4% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €8,424 | €13,359 | €7,318 | €21,339 | €3,002 | ▼ 85.9% |
| Amounts payable17/49 | €943 | €20,166 | €12,952 | €10,727 | €11,002 | ▲ 2.6% |
| Amounts payable within one year42/48 | €943 | €20,166 | €12,952 | €10,727 | €11,002 | ▲ 2.6% |
| Trade debts44 | €345 | €1,575 | €2,404 | €2,443 | €1,392 | ▼ 43.0% |
| Suppliers440/4 | €345 | €1,575 | €2,404 | €2,443 | €1,392 | ▼ 43.0% |
| Taxes, remuneration and social security45 | €237 | €8,778 | €6,074 | €271 | €271 | = |
| Taxes450/3 | €237 | €8,778 | €6,074 | €271 | €271 | = |
| Other amounts payable47/48 | €361 | €9,812 | €4,475 | €8,013 | €9,339 | ▲ 16.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€7,952 | €4,934 | -€6,041 | €14,021 | -€18,338 | ▼ 231% |
| Operating cash flow (approximation) | -€7,952 | €4,934 | -€6,041 | €14,021 | -€18,338 | ▼ 231% |
| Change in cash | - | -€616 | €8,555 | €13,582 | -€18,921 | ▼ 239% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
31-12
Financial
Weakest financial yearnet -€18,338
Net result drops to -€18,338, the lowest in the series.
26-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 26 days late
2024
31-12
Financial
Back to profitnet €14,021
Net result €14,021 after one loss-making year.
01-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
17-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Back to profitnet €4,934
Net result €4,934 after 2 loss-making years.
28-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Liquidity times 7current ratio 18.48
Current ratio from 2.57 to 18.48; short-term debt falls from €15,531 to €943.
02-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
02-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Mouscron · 2 establishment units since 2018
Ground area
3,085 m²
Building footprint
358 m²
Volume, LiDAR
1,516 m³
2 parcels, Wallonia · tallest building 8.8 m, ±2 floors. Linked by address, not a title deed.
2 establishment units
MGMD
since 20182.282.419.797
MGMD
since 20182.282.419.896
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 54004L0168/00B000 | Wallonia | 2,879 m² | 1 · 154 m² | - |
| 54432C0179/00D002 | Wallonia | 205 m² | 1 · 205 m² | 8.8 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 21,859 companies in sector 56112 we hold annual accounts for 9,782. 7,145 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
Founded05-12-2018
Fiscal year end31-12
Activities, NACEBEL 2025
56112Limited-service restaurants, excluding mobile food services
43320Joinery installation
81210General cleaning of buildings
E-invoicing
Reachable via Peppol
Peppol ID
0208:0715490014
Registered
04-01-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.