MHD
InactiveMHD was declared bankrupt on 04-06-2024 (Ondernemingsrechtbank Gent, afdeling Kortrijk); the bankruptcy was closed for insufficient assets by judgment of 24-02-2026, published in the Belgian State Gazette on 02-03-2026.
Summary
Inactive; last annual accounts for fiscal year 2022.
Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Two or more financial years not filed
Since the financial year that closed on 31-12-2023, 3 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 5 filingsPosition against the passed deadline
31-12-2023 close31-07-2024 deadline26-09-2026 today
neutral · Filed after the deadline
The financial year that closed on 31-12-2022 was due by 31-07-2023 and was filed on 23-08-2023, 23 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
not confirmed
2024
not filed
2023
not filed
2022
23 d late
2021
4 d early
2020
1 d early
2019
91 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 4 accounts on average 27 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
History
Financials · fiscal year 2022, micro schema
Equity
€6,315▲ 6.9%
2021 · €5,908
Total assets
€68,990▲ 26.1%
2021 · €54,720
Net result
€408
2021 · -€4,105
Working capital
€2,371▼ 47.3%
2021 · €4,496
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
Line20182019202020212022
Operating result-€6,635-€990€5,264▲ 432%-€1,958€3,996
Net result-€6,917-€68€3,862▲ 5,597%-€4,105€408
Equity€6,083-€6,150▲ 1.1%€10,012▲ 62.8%€5,908▼ 41.0%€6,315▲ 6.9%
Total assets€63,738-€61,070▼ 4.2%€81,868▲ 34.1%€54,720▼ 33.2%€68,990▲ 26.1%
Debt€57,656-€54,920▼ 4.7%€71,855▲ 30.8%€48,812▼ 32.1%€62,675▲ 28.4%
Working capital€801--€1,508€8€4,496▲ 53,615%€2,371▼ 47.3%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2022: €3,996 after a loss of €1,958 in 2021.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €68,990
Fixed assets
€5,821 ▼ 24.4%
Current assets
€63,169 ▲ 34.3%
Equity and liabilities €68,990
Equity
€6,315 ▲ 6.9%
Debt
€62,675 ▲ 28.4%
Debt's share of the balance-sheet total rises from 89.2% to 90.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€6,360▲
2021 · €349
Cash flow
€2,771▲
2021 · -€1,798
Current ratio
1.04▼
2021 · 1.11
Quick ratio
0.37▲
2021 · 0.14
Debt to equity
9.92▲
2021 · 8.26
ROE
6.5%▲
2021 · -69.5%
ROA
0.6%▲
2021 · -7.5%
Interest coverage
1.77▲
2021 · 0.16
Debt ≤ 1 year
€60,798▲
2021 · €42,527
Debt > 1 year
€1,877▼
2021 · €6,286
Staff costs
€143▼
2021 · €217
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €217 | €143 | ▼ 34.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,788 | €1,788 | €1,942 | €2,306 | €2,363 | ▲ 2.5% |
| Other operating charges640/8 | - | - | - | €1,236 | €430 | ▼ 65.2% |
| Gross operating margin9900 | -€4,527 | €3,935 | €8,419 | €1,802 | €6,932 | ▲ 285% |
| Operating profit (loss)9901 | -€6,635 | €990 | €5,264 | -€1,958 | €3,996 | ▲ 304% |
| Financial income75/76B | - | - | - | - | €4 | - |
| Recurring financial income75 | €0 | €0 | - | - | €4 | - |
| Financial charges65/66B | - | - | - | €2,147 | €3,593 | ▲ 67.3% |
| Recurring financial charges65 | - | €922 | €1,402 | €2,147 | €3,593 | ▲ 67.3% |
| Profit (loss) for the period before taxes9903 | -€6,917 | €68 | €3,862 | -€4,105 | €408 | ▲ 110% |
| Profit (loss) for the period9904 | -€6,917 | €68 | €3,862 | -€4,105 | €408 | ▲ 110% |
| Profit (loss) for the period to be appropriated9905 | -€6,917 | €68 | €3,862 | -€4,105 | €408 | ▲ 110% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €63,738 | €61,070 | €81,868 | €54,720 | €68,990 | ▲ 26.1% |
| Fixed assets21/28 | €11,142 | €9,354 | €10,004 | €7,697 | €5,821 | ▼ 24.4% |
| Tangible fixed assets22/27 | €8,592 | €6,804 | €7,454 | €5,147 | €3,271 | ▼ 36.5% |
| Plant, machinery and equipment23 | - | - | - | €3,647 | €3,271 | ▼ 10.3% |
| Furniture and vehicles24 | - | - | - | €1,500 | - | - |
| Financial fixed assets28 | €2,550 | €2,550 | €2,550 | €2,550 | €2,550 | = |
| Current assets29/58 | €52,596 | €51,716 | €71,864 | €47,023 | €63,169 | ▲ 34.3% |
| Stocks and contracts in progress3 | €48,048 | €46,422 | €42,208 | €40,883 | €40,557 | ▼ 0.8% |
| Stocks30/36 | - | - | - | €40,883 | €40,557 | ▼ 0.8% |
| Amounts receivable within one year40/41 | €171 | €2,512 | €25,773 | - | €20,986 | - |
| Trade receivables40 | - | - | - | - | €20,986 | - |
| Cash at bank and in hand54/58 | €4,378 | €2,782 | €3,706 | €5,456 | €1,200 | ▼ 78.0% |
| Deferred charges and accrued income490/1 | - | - | - | €684 | €426 | ▼ 37.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €63,738 | €61,070 | €81,868 | €54,720 | €68,990 | ▲ 26.1% |
| Equity10/15 | €6,083 | €6,150 | €10,012 | €5,908 | €6,315 | ▲ 6.9% |
| Contributions10/11 | €13,000 | €13,000 | €13,000 | €13,000 | €13,000 | = |
| Profit (loss) carried forward14 | -€6,917 | -€6,850 | -€2,988 | -€7,092 | -€6,685 | ▲ 5.7% |
| Amounts payable17/49 | €57,656 | €54,920 | €71,855 | €48,812 | €62,675 | ▲ 28.4% |
| Amounts payable after more than one year17 | €5,011 | €1,695 | - | €6,286 | €1,877 | ▼ 70.1% |
| Financial debts170/4 | - | - | - | €6,286 | €1,877 | ▼ 70.1% |
| Amounts payable within one year42/48 | €51,795 | €53,224 | €71,855 | €42,527 | €60,798 | ▲ 43.0% |
| Current portion of amounts payable after more than one year42 | - | - | - | €4,278 | €4,409 | ▲ 3.1% |
| Financial debts43 | - | - | - | €3,074 | €4,904 | ▲ 59.5% |
| Credit institutions430/8 | - | - | - | €3,074 | €4,904 | ▲ 59.5% |
| Trade debts44 | €3,098 | €3,105 | €16,245 | €11,671 | €12,009 | ▲ 2.9% |
| Suppliers440/4 | - | - | - | €11,671 | €12,009 | ▲ 2.9% |
| Advances received on contracts in progress46 | - | - | - | - | €15,900 | - |
| Taxes, remuneration and social security45 | - | - | - | €2,211 | €1,424 | ▼ 35.6% |
| Taxes450/3 | - | - | - | €2,211 | €1,424 | ▼ 35.6% |
| Other amounts payable47/48 | - | - | - | €21,293 | €22,154 | ▲ 4.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€6,917 | €68 | €3,862 | -€4,105 | €408 | ▲ 110% |
| + Depreciation and write-downs630 | €1,788 | €1,788 | €1,942 | €2,306 | €2,363 | ▲ 2.5% |
| Operating cash flow (approximation) | -€5,129 | €1,856 | €5,804 | -€1,798 | €2,771 | ▲ 254% |
| Investment in fixed assets (approximation) | - | €0 | -€2,592 | €0 | -€487 | - |
| Change in cash | - | -€1,596 | €924 | €1,750 | -€4,256 | ▼ 343% |
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
02-03
Bankruptcy
Bankruptcy closure (insufficient assets)
Ondernemingsrechtbank Gent, afdeling Kortrijk · event 24-02-2026
2024
11-06
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Kortrijk · event 04-06-2024
2023
23-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 23 days late
2022
31-12
Financial
Back to profitnet €408
Net result €408 after one loss-making year.
27-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Highest result since 2018net €3,862 ▲5,597%
Operating result €5,264, net result €3,862, both a record.
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 91 days late
2019
31-12
Financial
Back to profitnet €68
Net result €68 after one loss-making year.
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 30 days late
SignalFinancial 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
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | Yves FRANCOIS EERTBRUGGESTRAAT 10,
8790 WAREGEM |
04-06-2024 → 24-02-2026 |