MIDASCO
ActiveSummary
MIDASCO has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €511,038 and a net result of €240,265. Equity is growing by ~13.4% per year across the filed fiscal years. Its solvency ranks better than 75% of 8737 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency100=
Growth78▲+20
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €45,000 at 30 days acceptable
Liquidity ample (current ratio 3.72 against 3.19 in 2024; short-term debt: 21.2% and cash: 32.6% of total assets), and 21.2% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
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
78.8%
Return on assets
37.1%
Age of the figures
12 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 27-02-2026, 62 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
62 d early
2024
113 d early
2023
154 d early
2022
45 d early
2021
59 d early
2020
109 d early
2019
107 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 93 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
28-09-2026 today30-09-2026 close30-04-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Turnover
€38,200
EBIT margin
77.4%
Net result
€240,265▲ 76.7%
2024 · €135,963
Working capital
€373,239▲ 83.0%
2024 · €203,976
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy 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
Turnover€38,200
Operating result€29,583▲ 1.0%€51,885▲ 75.4%€66,581▲ 28.3%€66,826▲ 0.4%€80,654▲ 20.7%
Net result€18,878within the sector's middle half▼ 2.6%€35,499within the sector's middle half▲ 88.0%€44,223within the sector's middle half▲ 24.6%€135,963within the sector's middle half▲ 207%€240,265above the sector's middle half▲ 76.7%
EBIT margin77.4%
Equity€152,427within the sector's middle half▲ 14.1%€187,925within the sector's middle half▲ 23.3%€211,853within the sector's middle half▲ 12.7%€344,522within the sector's middle half▲ 62.6%€511,038within the sector's middle half▲ 48.3%
Total assets€242,212below the sector's middle half▼ 44.7%€284,178below the sector's middle half▲ 17.3%€326,361below the sector's middle half▲ 14.8%€437,796within the sector's middle half▲ 34.1%€648,249within the sector's middle half▲ 48.1%
Debt€89,785▼ 70.5%€96,253▲ 7.2%€114,507▲ 19.0%€93,275▼ 18.5%€137,211▲ 47.1%
Working capital€33,193▲ 81.3%€44,607▲ 34.4%€71,234▲ 59.7%€203,976▲ 186%€373,239▲ 83.0%
Solvency62.9%within the sector's middle half▲ 32.4pp66.1%within the sector's middle half▲ 3.2pp64.9%within the sector's middle half▼ 1.2pp78.7%within the sector's middle half▲ 13.8pp78.8%within the sector's middle half▲ 0.1pp
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2025 is 21% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €648,249
Fixed assets
€137,799 ▼ 2.0%
Current assets
€510,450 ▲ 71.7%
Equity and liabilities €648,249
Equity
€511,038 ▲ 48.3%
Debt
€137,211 ▲ 47.1%
Debt's share of the balance-sheet total falls from 21.3% to 21.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€85,177▲
2024 · €70,734
Cash flow
€244,788▲
2024 · €139,871
Current ratio
3.72▲
2024 · 3.19
Debt to equity
0.27▼
2024 · 0.27
ROE
47.0%▲
2024 · 39.5%
ROA
37.1%▲
2024 · 31.1%
Interest coverage
21.07▲
2024 · 10.66
Debt ≤ 1 year
€137,211▲
2024 · €93,275
Income taxes
€45,910▲
2024 · €30,495
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 20,129 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
4.7%
stopped otherwise
95%
still going
For this company itself Checked computes a bankruptcy probability of 0.1% over twelve months; the group does not contradict it.
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 20,129 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 |
|---|---|---|---|---|---|---|
| Turnover70 | €38,200 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,635 | €3,311 | €3,871 | €3,908 | €4,523 | ▲ 15.7% |
| Other operating charges640/8 | - | €2,416 | €2,362 | €2,410 | €2,379 | ▼ 1.3% |
| Gross operating margin9900 | €33,486 | €57,612 | €72,815 | €73,144 | €87,556 | ▲ 19.7% |
| Operating profit (loss)9901 | €29,583 | €51,885 | €66,581 | €66,826 | €80,654 | ▲ 20.7% |
| Financial income75/76B | - | €2,030 | €3,053 | €106,270 | €209,563 | ▲ 97.2% |
| Recurring financial income75 | €2,230 | €2,030 | €3,053 | €106,270 | €209,563 | ▲ 97.2% |
| Financial charges65/66B | - | €3,390 | €4,192 | €6,638 | €4,042 | ▼ 39.1% |
| Recurring financial charges65 | €4,623 | €3,390 | €4,192 | €6,638 | €4,042 | ▼ 39.1% |
| Profit (loss) for the period before taxes9903 | €27,690 | €50,525 | €65,441 | €166,458 | €286,175 | ▲ 71.9% |
| Income taxes67/77 | €8,812 | €15,026 | €21,219 | €30,495 | €45,910 | ▲ 50.5% |
| Profit (loss) for the period9904 | €18,878 | €35,499 | €44,223 | €135,963 | €240,265 | ▲ 76.7% |
| Profit (loss) for the period to be appropriated9905 | €18,878 | €35,499 | €44,223 | €135,963 | €240,265 | ▲ 76.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €242,212 | €284,178 | €326,361 | €437,796 | €648,249 | ▲ 48.1% |
| Fixed assets21/28 | €119,459 | €143,318 | €140,619 | €140,545 | €137,799 | ▼ 2.0% |
| Tangible fixed assets22/27 | €19,101 | €42,960 | €40,261 | €40,188 | €37,442 | ▼ 6.8% |
| Land and buildings22 | - | €42,733 | €39,353 | €39,702 | €35,993 | ▼ 9.3% |
| Furniture and vehicles24 | - | €228 | €909 | €486 | €1,449 | ▲ 198% |
| Financial fixed assets28 | €100,358 | €100,358 | €100,358 | €100,358 | €100,358 | = |
| Current assets29/58 | €122,753 | €140,860 | €185,741 | €297,251 | €510,450 | ▲ 71.7% |
| Amounts receivable after more than one year29 | - | €75,000 | €110,000 | €95,000 | €95,000 | = |
| Other amounts receivable291 | - | €75,000 | €110,000 | €95,000 | €95,000 | = |
| Amounts receivable within one year40/41 | €10,143 | €4,598 | €4,235 | €4,235 | €204,254 | ▲ 4,723% |
| Trade receivables40 | - | €4,598 | €4,235 | €4,235 | €4,254 | ▲ 0.4% |
| Other amounts receivable41 | - | - | - | - | €200,000 | - |
| Cash at bank and in hand54/58 | €62,610 | €61,262 | €71,306 | €198,016 | €211,196 | ▲ 6.7% |
| Deferred charges and accrued income490/1 | - | - | €200 | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €242,212 | €284,178 | €326,361 | €437,796 | €648,249 | ▲ 48.1% |
| Equity10/15 | €152,427 | €187,925 | €211,853 | €344,522 | €511,038 | ▲ 48.3% |
| Contributions10/11 | - | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €67,752 | €103,250 | €127,178 | €259,847 | €426,363 | ▲ 64.1% |
| Non-distributable reserves130/1 | - | €1,859 | - | - | - | - |
| Other1319 | - | €1,859 | - | - | - | - |
| Distributable reserves133 | - | €101,391 | €127,178 | €259,847 | €426,363 | ▲ 64.1% |
| Profit (loss) carried forward14 | €66,083 | €66,083 | €66,083 | €66,083 | €66,083 | = |
| Amounts payable17/49 | €89,785 | €96,253 | €114,507 | €93,275 | €137,211 | ▲ 47.1% |
| Amounts payable within one year42/48 | €89,560 | €96,253 | €114,507 | €93,275 | €137,211 | ▲ 47.1% |
| Trade debts44 | €722 | €6,598 | €643 | €785 | €1,477 | ▲ 88.2% |
| Suppliers440/4 | - | €6,598 | €643 | €785 | €1,477 | ▲ 88.2% |
| Taxes, remuneration and social security45 | - | €7,258 | €13,265 | €12,338 | €33,891 | ▲ 175% |
| Taxes450/3 | - | €7,258 | €13,265 | €12,338 | €33,891 | ▲ 175% |
| Other amounts payable47/48 | - | €82,398 | €100,599 | €80,152 | €101,843 | ▲ 27.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €18,878 | €35,499 | €44,223 | €135,963 | €240,265 | ▲ 76.7% |
| + Depreciation and write-downs630 | €1,635 | €3,311 | €3,871 | €3,908 | €4,523 | ▲ 15.7% |
| Operating cash flow (approximation) | €20,513 | €38,810 | €48,094 | €139,871 | €244,788 | ▲ 75.0% |
| Investment in fixed assets (approximation) | - | -€27,170 | -€1,172 | -€3,834 | -€1,777 | ▲ 53.7% |
| Change in cash | - | -€1,348 | €10,045 | €126,710 | €13,180 | ▼ 89.6% |
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
27-02
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
30-09
Financial
Highest result since 2018net €240,265 ▲76.7%
Operating result €80,654, net result €240,265, both a record.
30-09
Financial
Equity above €500,000Eq €511,038 ▲48.3%
8 profitable years in a row build equity to €511,038.
07-01
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2023
28-11
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
30-09
Financial
Equity above €200,000Eq €211,853 ▲12.7%
6 profitable years in a row build equity to €211,853.
16-03
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
02-03
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-09
Financial
Equity above €150,000Eq €152,427 ▲14.1%
4 profitable years in a row build equity to €152,427.
11-01
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
14-01
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
30-09
Financial
Weakest financial yearnet €3,295 ▼73%
Net result drops to €3,295, the lowest in the series; recovery starts the following year.
Show earlier events
20-02
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
21-02
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
16-03
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
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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Directors · office · real estate
Directors
1 act for this company is 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, Kortrijk · 1 establishment unit since 1989
Ground area
141 m²
Building footprint
60 m²
Volume, LiDAR
439 m³
Parcel 34354C0411/00X000, Flanders · tallest building 9.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
MIDASCO BVBA
since 19892.044.790.286
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34354C0411/00X000 | Flanders | 141 m² | 1 · 60 m² | 9.8 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.
Structure & network
Owners and holdings
1 holdingOwners 0
The accounts to 30-09-2025 list no shareholders, and no other source names one.
Holdings 1
-
33.33%
According to the annual accounts to 30-09-2025 of MIDASCO 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 current directors or connected companies found in the register.
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STELODEV
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KLOC
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TANIS
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Of 82,642 companies in sector 70200 we hold annual accounts for 52,626. 34,504 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
Founded25-08-1989
Fiscal year end30-09
Activities, NACEBEL 2025
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0438216405
Also
9925:BE0438216405
Registered
12-03-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.