MODD
ActiveSummary
MODD has been active since 2007 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €297,958 and a net result of €114,150, of which €236,253 non-recurring income. Equity has been growing by about 2.6% per year since 2018. The computed 12-month bankruptcy probability is below 0.1% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 02-02-2007 Normal situation
- Activity
- No activity registered in the KBO
- Establishment unit
- 2.159.942.154 9220 Hamme (Vl.), since 30-01-2007
- Financial year end
- 31 December
- Peppol
- Not found in the Peppol Directory
Board and ownership
- Dhaen GuyDirector · until 2022
- D’hooge SylvieDirector · until 2022
Financial position
- Bankruptcy probabilitywithin 12 months
- < 0.1%
- Gross margin
- €219,762
- Turnover
- ≈ €550,000
- estimated
- Profit
- €114,150
- Equity
- €297,958
- ▲ 62.1%
- Total assets
- €513,554
- ▲ 14.8%
Score breakdownlowers riskSize: total assets €513,554Liquidity: current ratio 7.05, cash €140,246Equity €297,958 (58.0% of total assets)Figures for financial year 2025 (filed on 03-07-2026)Show the evidence
Checked score
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (no NACE code, micro). It does better than 49% of them on solvency, 76% on liquidity, 77% on profitability and 88% on growth.
The bankruptcy probability was computed on 02-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 7 accounts on average 23 days before the deadline. The Belgian median for financial year 2024 was 4 days before the deadline, and 38% of all filings were late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 03-07-2026 at the NBB all 18 filings
Every figure per financial year
The operating result for 2025 is a profit of €182,207, after a loss of €25,580 in 2024. It is the highest result since 2021.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Mortgages, amount registered | €350,000 | €350,000 | €600,000 | €725,000 | €490,000 |
| Carrying value of the mortgaged assets | €178,770 | €80,334 | €170,918 | €209,908 | €274,456 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €28,647 | - | €103,763 | €52,735 | €149,738 |
| Depreciation and write-downs of the year | €21,823 | €19,508 | €19,771 | €21,686 | €35,618 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €118,389 | - | - | €236,253 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €20,935 | €20,789 | €20,789 | €21,823 | €19,508 | €19,771 | €21,686 | €35,618 | ▲ 64.2% |
| Other operating charges640/8 | - | - | - | €3,874 | €2,823 | €2,771 | €2,556 | €1,937 | ▼ 24.2% |
| Gross operating margin9900 | €69,606 | €90,184 | €35,613 | €36,048 | €114,935 | -€8,536 | -€1,338 | €219,762 | - |
| Operating profit (loss)9901 | €44,401 | €67,032 | €10,209 | €10,351 | €92,604 | -€31,079 | -€25,580 | €182,207 | - |
| Financial income75/76B | - | - | - | €190 | €2,114 | €26,905 | €2,241 | €1,294 | ▼ 42.2% |
| Recurring financial income75 | €571 | €278 | €185 | €190 | €2,114 | €26,905 | €2,241 | €1,294 | ▼ 42.2% |
| Financial charges65/66B | - | - | - | €7,285 | €8,159 | €8,934 | €7,669 | €6,606 | ▼ 13.9% |
| Recurring financial charges65 | €11,705 | €9,611 | €7,874 | €7,285 | €8,159 | €8,934 | €7,669 | €6,606 | ▼ 13.9% |
| Profit (loss) for the period before taxes9903 | €33,268 | €57,699 | €2,520 | €3,256 | €86,559 | -€13,108 | -€31,008 | €176,895 | - |
| Transfer from deferred taxes780 | - | - | - | - | - | €470 | €1,376 | €2,062 | ▲ 49.8% |
| Transfer to deferred taxes680 | - | - | - | - | €23,678 | - | - | €64,521 | - |
| Income taxes67/77 | €13,359 | €16,046 | €919 | €814 | €59 | €223 | €215 | €286 | ▲ 33.0% |
| Profit (loss) for the period9904 | €19,909 | €41,653 | €1,601 | €2,442 | €62,822 | -€12,861 | -€29,847 | €114,150 | - |
| Transfer from tax-exempt reserves789 | - | - | - | - | - | €1,879 | €5,505 | €11,644 | ▲ 112% |
| Transfer to tax-exempt reserves689 | - | - | - | - | €94,711 | - | - | €177,189 | - |
| Profit (loss) for the period to be appropriated9905 | €19,909 | €41,653 | €1,601 | €2,442 | -€31,889 | -€10,982 | -€24,341 | -€51,396 | ▼ 111% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €430,053 | €441,208 | €417,823 | €417,749 | €472,730 | €491,537 | €447,488 | €513,554 | ▲ 14.8% |
| Fixed assets21/28 | €241,950 | €222,876 | €202,087 | €208,911 | €103,068 | €187,059 | €219,823 | €278,145 | ▲ 26.5% |
| Tangible fixed assets22/27 | €241,950 | €222,876 | €202,087 | €208,911 | €103,068 | €187,059 | €219,823 | €278,145 | ▲ 26.5% |
| Land and buildings22 | - | - | - | €178,770 | €80,334 | €170,918 | €209,908 | €274,456 | ▲ 30.8% |
| Plant, machinery and equipment23 | - | - | - | €3,158 | €1,857 | €992 | €496 | - | - |
| Furniture and vehicles24 | - | - | - | €26,983 | €20,877 | €15,148 | €9,418 | €3,689 | ▼ 60.8% |
| Current assets29/58 | €188,103 | €218,332 | €215,736 | €208,837 | €369,663 | €304,478 | €227,665 | €235,410 | ▲ 3.4% |
| Amounts receivable within one year40/41 | €53,724 | €50,606 | €30,666 | €11,152 | €35,013 | €11,986 | €2,101 | - | - |
| Trade receivables40 | - | - | - | €5,748 | €15,000 | €951 | €1,006 | - | - |
| Other amounts receivable41 | - | - | - | €5,405 | €20,013 | €11,036 | €1,095 | - | - |
| Current investments50/53 | €44,208 | €44,378 | €49,343 | €74,472 | €75,386 | €93,521 | €93,716 | €93,949 | ▲ 0.2% |
| Cash at bank and in hand54/58 | €90,171 | €114,830 | €127,212 | €113,244 | €249,427 | €198,352 | €130,943 | €140,246 | ▲ 7.1% |
| Deferred charges and accrued income490/1 | - | - | - | €9,970 | €9,837 | €619 | €905 | €1,215 | ▲ 34.3% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €430,053 | €441,208 | €417,823 | €417,749 | €472,730 | €491,537 | €447,488 | €513,554 | ▲ 14.8% |
| Equity10/15 | €176,890 | €218,542 | €220,143 | €222,585 | €285,407 | €213,654 | €183,808 | €297,958 | ▲ 62.1% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €158,290 | €199,942 | €201,543 | €203,985 | €266,807 | €195,054 | €169,639 | €335,185 | ▲ 97.6% |
| Non-distributable reserves130/1 | - | - | - | €2,150 | €2,150 | €2,150 | €2,150 | €2,150 | = |
| Reserves not available under the articles1311 | - | - | - | €2,150 | €2,150 | €2,150 | €2,150 | €2,150 | = |
| Tax-exempt reserves132 | - | - | - | - | €94,711 | €92,832 | €87,327 | €252,872 | ▲ 190% |
| Distributable reserves133 | - | - | - | €201,835 | €169,946 | €100,072 | €80,163 | €80,163 | = |
| Profit (loss) carried forward14 | - | - | - | - | - | - | -€4,432 | -€55,827 | ▼ 1,160% |
| Provisions and deferred taxes16 | - | - | - | - | €23,678 | €23,208 | €21,832 | €84,291 | ▲ 286% |
| Deferred taxes168 | - | - | - | - | €23,678 | €23,208 | €21,832 | €84,291 | ▲ 286% |
| Amounts payable17/49 | €253,163 | €222,665 | €197,680 | €195,164 | €163,645 | €254,675 | €241,848 | €131,306 | ▼ 45.7% |
| Amounts payable after more than one year17 | €199,476 | €179,804 | €159,309 | €159,049 | €129,186 | €187,047 | €173,590 | €97,931 | ▼ 43.6% |
| Financial debts170/4 | - | - | - | €158,299 | €128,436 | €186,297 | €172,840 | €97,931 | ▼ 43.3% |
| Other amounts payable178/9 | - | - | - | €750 | €750 | €750 | €750 | - | - |
| Amounts payable within one year42/48 | €49,442 | €40,006 | €38,371 | €34,874 | €33,220 | €66,388 | €68,258 | €33,375 | ▼ 51.1% |
| Current portion of amounts payable after more than one year42 | - | - | - | €31,176 | €32,149 | €33,164 | €39,427 | €7,354 | ▼ 81.3% |
| Trade debts44 | €1,539 | €661 | €1,645 | €1,628 | €1,071 | €1,646 | €851 | €8 | ▼ 99.0% |
| Suppliers440/4 | - | - | - | €1,628 | €1,071 | €1,646 | €851 | €8 | ▼ 99.0% |
| Other amounts payable47/48 | - | - | - | €2,070 | - | €31,577 | €27,980 | €26,013 | ▼ 7.0% |
| Accrued charges and deferred income492/3 | - | - | - | €1,240 | €1,240 | €1,240 | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €19,909 | €41,653 | €1,601 | €2,442 | €62,822 | -€12,861 | -€29,847 | €114,150 | - |
| + Depreciation and write-downs630 | €20,935 | €20,789 | €20,789 | €21,823 | €19,508 | €19,771 | €21,686 | €35,618 | ▲ 64.2% |
| Operating cash flow (approximation) | €40,844 | €62,442 | €22,390 | €24,265 | €82,330 | €6,910 | -€8,161 | €149,768 | - |
| Investment in fixed assets (approximation) | - | -€1,715 | €0 | -€28,647 | €86,336 | -€103,763 | -€54,450 | -€93,940 | ▼ 72.5% |
| Change in cash | - | €24,659 | €12,381 | -€13,968 | €136,183 | -€51,075 | -€67,409 | €9,303 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 17,811 companies had the same profile as MODD has now. Two years later, 96.5% were still going and 0.3% had gone bankrupt.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
That fits the bankruptcy probability of MODD itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 17,811 companies, not a prediction for MODD. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 18 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 03-07-2026 | 2026-00245619 | |
| 31-12-2024 | micro format | 09-07-2025 | 2025-00249034 | |
| 31-12-2023 | micro format | 03-07-2024 | 2024-00200886 | |
| 31-12-2022 | micro format | 11-07-2023 | 2023-00222905 | |
| 31-12-2021 | micro format | 29-07-2022 | 2022-20244431 | |
| 31-12-2020 | micro format | 02-07-2021 | 2021-29000207 | |
| 31-12-2019 | micro format | 02-07-2020 | 2020-24300519 | |
| 31-12-2018 | micro format | 20-06-2019 | 2019-19900169 | |
| 31-12-2017 | micro format | 22-06-2018 | 2018-21000421 | |
| 31-12-2016 | abbreviated format | 05-07-2017 | 2017-26600367 |
Board & ownership
Directors
Full text
De vennootschap mag haar voorwerp verwezenlijken zowel in België als in het buitenland, op alle wijzen en manieren, die zij het best geschikt zou achten. De vennootschap mag geenszins aan vermogensbeheer of beleggingsadvies doen als bedoeld in de Wetten en Koninklijke Besluiten. De algemene vergadering kan het voorwerp van de vennootschap uitleggen, verklaren en uitbreiden, mits zich te schikken naar de wettelijke regels.”. (…) WIJZIGING EXTERNE VERTEGENWOORDIGING BIJ MEERDERE BESTUURDERS De vergadering besluit voor het geval er meerdere bestuurders zijn dat iedere bestuurder de vennootschap jegens derden en in rechte als eiser of als verweerder vertegenwoordigt.
Owners and capital
Owners
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Dhaen Guy |
|
| D’hooge Sylvie |
|
Articles of association
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “Natuurlijke personen of rechtspersonen,al dan niet aandeelhouder, 1”“Eerstvolgende algemene vergadering, volbrengt mandaat voorganger tenzij algemene vergadering anders beslist”
- Liquidation ruleIn a liquidation the creditors are paid first. What is left goes to the shareholders.
- “Algemene vergadering mag één of meerdere vereffenaars aanduiden bevoegdheden omlijnen vergoeding bepalen, ontbinding en sluiting vereffening…”
Articles of association, deed of 19-01-2022 (in Dutch)
Timeline
Acts, filings and financial milestones
19-01
Gazette deed
Resignations: Dhaen Guy (director) and D’hooge Sylvie (director)Reappointments: Dhaen Guy (director) and D’hooge Sylvie (director) · Amendment of the articles · Capital conversion10 points ▸
- General meeting, 09-12-2021
- Amendment of the articles, mentioned 2 times in the deed
- Capital conversion, “statutair onbeschikbare eigenvermogensrekening” (deed in Dutch)
- Purpose change
- Registered office clause, “9220 Hamme (Moerzeke), Ganzenberg 61” (deed in Dutch)
- Director resignation, Dhaen Guy (director)
- Director resignation, D’hooge Sylvie (director)
- Director reappointment, Dhaen Guy (director (not named in the articles))
- Director reappointment, D’hooge Sylvie (director (not named in the articles))
- Power of attorney, Jeroen Parmentier
Show earlier events
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 42014C0181/00F000 | Flanders | 664 m² | 1 · 141 m² | 8.9 m · 2 |