MINALE DESIGN STRATEGY

Active

Private limited companyfounded 199728 yrs activeGiststraat 4, 1050 Elsene, BelgiumKBO/BCE: BE 0461.781.564

MINALE DESIGN STRATEGY has been active since 1997 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €8k and a net result of €187k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 10% of 1094 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.8% (low).

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Checked score

Score 2024

59 / 100

Fair

The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability83▲+4

Solvency25=

Growth58=

Track record100

Bankruptcy probability, 12 months

0.8% Low

0%0.5%1.5%4%10%≥ 25%

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Five signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Higher-failure-rate region

In this region companies fail more often than in the rest of the country.

KBO · registered office

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

Weak solvency vs sector

Solvency (equity / total assets) is in the sector's weakest quartile: better than 10% of 1094 sector peers (2024).

NBB · sector comparison

Position among 1094 sector peers

Solvency

better than 10%

← weakest strongest →

Latest accounts filed on time

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 08-07-2025, 23 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

not confirmed

2024

23 d early

2023

19 d early

2022

6 d early

2021

82 d late

2020

2 d late

2019

11 d late

← before the deadline after the deadline →

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2024, full schema

Turnover

Not included in this filing

EBIT margin

Not included in this filing

Net result

€187k▼ 28.1%

2023 · €260k

2018: €161k 2019: €268k 2020: €233k 2021: €143k 2022: €169k 2023: €260k

2018 → 2024

Working capital

€298k▲ 1,763%

2023 · €16k

2018: €170k 2019: €461k 2020: €1.07M 2021: €64k 2022: €116k 2023: €16k

2018 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20202021202220232024Trend

Equity€661k-€8k▼ 98.8%€8k=€8k=€8k=

Operating result€324k-€203k▼ 37.2%€235k▲ 15.7%€358k▲ 52.3%€256k▼ 28.6%

Net result€233k-€143k▼ 38.8%€169k▲ 18.8%€260k▲ 53.7%€187k▼ 28.1%

Result per fiscal year

Operating resultNet result

The operating result falls in 2024; 2024 is 29% below 2023.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €1.61M

11%

88.8%

Fixed assets €181k▼ 13.2%

Current assets €1.43M▼ 54.2%

Equity and liabilities €1.61M

99.5%

Equity €8k=

Debt €1.60M▼ 51.8%

The debt ratio falls from 99.8% to 99.5%. Debt is lower.

Key figures and ratios

2024 value · change against 2023

EBITDA

€290k▼

2023 · €392k

Cash flow

€222k▼

2023 · €295k

Solvency

0.5%▲

2023 · 0.2%

Current ratio

1.26▲

2023 · 1.01

Quick ratio

1.26▲

2023 · 1.01

ROA

11.6%▲

2023 · 7.8%

Interest coverage

77.08▼

2023 · 102.78

Debt

€1.60M▼

2023 · €3.33M

Debt ≤ 1 year

€1.13M▼

2023 · €3.11M

Debt > 1 year

€180k▼

2023 · €212k

Income taxes

€65k▼

2023 · €94k

Staff costs

€359k▼

2023 · €434k

A ratio outside any meaningful range has been withheld (balance sheet total €1.61M, equity €8k).

Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.

Filed annual accounts

As filed with the NBB · 2024 against 2023

Balance sheet Code20232024

Assets

Total assets20/58€3.33M€1.61M▼

Fixed assets21/28€209k€181k▼

Tangible fixed assets22/27€190k€178k▼

Land and buildings22€178k€150k▼

Plant, machinery and equipment23€55€0▼

Furniture and vehicles24€12k€28k▲

Financial fixed assets28€19k€3k▼

Current assets29/58€3.13M€1.43M▼

Amounts receivable within one year40/41€2.87M€763k▼

Trade receivables40€2.86M€710k▼

Other amounts receivable41€13k€52k▲

Cash at bank and in hand54/58€245k€416k▲

Deferred charges and accrued income490/1€11k€253k▲

Equity and liabilities

Total equity and liabilities10/49€3.33M€1.61M▼

Equity10/15€8k€8k=

Contributions10/11€6k€6k=

Reserves13€2k€2k=

Non-distributable reserves130/1€2k€2k=

Reserves not available under the articles1311€2k€2k=

Profit (loss) carried forward14€0€0=

Amounts payable17/49€3.33M€1.60M▼

Amounts payable after more than one year17€212k€180k▼

Financial debts170/4€212k€180k▼

Amounts payable within one year42/48€3.11M€1.13M▼

Current portion of amounts payable after more than one year42€31k€32k▲

Trade debts44€2.17M€424k▼

Suppliers440/4€2.17M€424k▼

Taxes, remuneration and social security45€85k€99k▲

Taxes450/3€30k€61k▲

Remuneration and social security454/9€55k€37k▼

Other amounts payable47/48€828k€579k▼

Accrued charges and deferred income492/3€5k€291k▲

Income statement Code20232024

Remuneration, social security and pensions62€434k€359k▼

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€35k€35k▲

Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€21€0▼

Other operating charges640/8€960€8k▲

Gross operating margin9900€828k€657k▼

Operating profit (loss)9901€358k€256k▼

Financial income75/76B-€192

Recurring financial income75-€192

Financial charges65/66B€4k€4k▼

Recurring financial charges65€4k€4k▼

Profit (loss) for the period before taxes9903€354k€252k▼

Income taxes67/77€94k€65k▼

Profit (loss) for the period9904€260k€187k▼

Profit (loss) for the period to be appropriated9905€260k€187k▼

Appropriation of the result

Profit (loss) to be appropriated9906€260k€187k▼

Profit to be distributed694/7€260k€187k▼

Return on contributions (dividend)694€260k€187k▼

Social balance

Average headcount (FTE)90876.65.7▼

The notes to these accounts (13 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 14Financial 4Filings 10

2025

08-07

NBB filing Annual accounts filed

fiscal year 2024 · full schema

2024

12-07

NBB filing Annual accounts filed

fiscal year 2023 · full schema

2023

25-07

NBB filing Annual accounts filed

fiscal year 2022 · full schema

2022

21-10

NBB filing Annual accounts filed

fiscal year 2021 · full schema · 82 days late

2021

31-12

Financial Weakest financial yearnet €143k ▼38.8%

Net result drops to €143k, the lowest in the series; recovery starts the following year.

02-08

NBB filing Annual accounts filed

fiscal year 2020 · full schema · 2 days late

2020

31-12

Financial Equity above €500kEq €661k ▲54.5%

3 profitable years in a row build equity to €661k.

11-08

NBB filing Annual accounts filed

fiscal year 2019 · full schema · 11 days late

2019

31-12

Financial Highest result since 2018net €268k ▲66%

Operating result €402k, net result €268k, both a record.

31-12

Financial Equity above €200kEq €428k ▲167%

2 profitable years in a row build equity to €428k.

05-08

NBB filing Annual accounts filed

fiscal year 2018 · full schema · 5 days late

2018

31-07

NBB filing Annual accounts filed

fiscal year 2017 · full schema

2017

07-08

NBB filing Annual accounts filed

fiscal year 2016 · full schema · 7 days late

2015

23-12

NBB filing Annual accounts filed

fiscal year 2015 · full schema

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

4 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, Elsene · 1 establishment unit since 1997

establishment The establishment unit on the map

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Giststraat 41050 Elsene

Ground area

4,134 m²

Building footprint

1,133 m²

Volume, LiDAR

25,919 m³

2 parcels, Brussels · tallest building 29.5 m, ±8 floors. Linked by address, not a title deed.

1 establishment unit

Terhulpsesteenweg 178, 1170 Watermaal-Bosvoorde

Manufacture of basic metals

since 19972.084.165.754

2 parcels

Brussels 2 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
21652E0053/00H003	Brussels	3,732 m²	1 · 955 m²	29.5 m · 8 fl.
21443C0038/00M009	Brussels	402 m²	1 · 178 m²	16.6 m · 4 fl.

Linked by address, not proof of ownership

Methodology

via registered seat: 1 · via establishment units: 1

2 of 2 parcels with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Similar companies · same sector, comparable size

SHADIE

BE 0541.541.201

Lede · Eq €8k

ACUMEN PUBLIC AFFAIRS

BE 0828.384.849

Brussel · Eq €8k

PATRIMONY & FINANCIAL DEVELOPMENT

BE 0874.334.838

Watermaal-Bosvoorde · Eq €8k

Of 13,422 companies in sector 73300 we hold annual accounts for 6,901. 3,348 are within a factor 10 of this equity.See the whole sector

Company data · Crossroads Bank

Identification

Legal formPrivate limited company

Founded03-11-1997

Fiscal year end31-12

Abbreviation FR MDS

Activities, NACEBEL

70210Activities of head offices; management consultancy activities

73110Advertising agencies

73300Public relations and communication consultancy

74141

74401

Sources

Crossroads Bank for EnterprisesNational Bank · 26 filingsAddress and cadastre registers

Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.