MVDN
ActiveSummary
MVDN has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €592 and a net result of €36k. Equity is shrinking by ~55.3% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2026. Its solvency ranks better than 14% of 7780 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+10
Solvency26▼-16
Growth32=
Track record94
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 82
Relative position
BE, all sectors
reference
Office administrative, office support and other business support activities (NACE 82)
about 37% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
0.5%
Return on assets
32.2%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 14% of 7780 sector peers (2025).
NBB · sector comparisonPosition among 7780 sector peers
Solvency
better than 14%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 03-04-2026, 119 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
119 d early
2024
26 d early
2023
30 d early
2022
25 d early
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€592▼ 98.3%
2024 · €34k
2022: €66k
2023: €137k▲ +106% vs 2022highest in 4 years
2024: €34k▼ -74.9% vs 2023
2025: €592▼ -98.3% vs 2024lowest in 4 years
2022 → 2025
Total assets
€112k▼ 44.7%
2024 · €203k
2022: €95klowest in 4 years
2023: €172k▲ +80.1% vs 2022
2024: €203k▲ +17.9% vs 2023highest in 4 years
2025: €112k▼ -44.7% vs 2024
2022 → 2025
Net result
€36k▲ 6.6%
2024 · €34k
2022: €37k
2023: €70k▲ +91.8% vs 2022highest in 4 years
2024: €34k▼ -51.7% vs 2023lowest in 4 years
2025: €36k▲ +6.6% vs 2024
2022 → 2025
Working capital
€-14k
2024 · €18k
2022: €58k
2023: €131k▲ +126% vs 2022highest in 4 years
2024: €18k▼ -86.0% vs 2023
2025: €-14k▼ -174% vs 2024lowest in 4 years
2022 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2022202320242025Trend
Equity€66k-€137k▲ 106%€34k▼ 74.9%€592▼ 98.3%
2022: €66k
2023: €137k▲ +106% vs 2022highest in 4 years
2024: €34k▼ -74.9% vs 2023
2025: €592▼ -98.3% vs 2024lowest in 4 years
Operating result€48k-€90k▲ 88.2%€45k▼ 49.6%€47k▲ 4.9%
2022: €48k
2023: €90k▲ +88.2% vs 2022highest in 4 years
2024: €45k▼ -49.6% vs 2023lowest in 4 years
2025: €47k▲ +4.9% vs 2024
Net result€37k-€70k▲ 91.8%€34k▼ 51.7%€36k▲ 6.6%
2022: €37k
2023: €70k▲ +91.8% vs 2022highest in 4 years
2024: €34k▼ -51.7% vs 2023lowest in 4 years
2025: €36k▲ +6.6% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 5% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €112k
Fixed assets
€14k ▼ 11.1%
Current assets
€98k ▼ 47.6%
Equity and liabilities €112k
Equity
€592 ▼ 98.3%
Debt
€111k ▼ 33.8%
Debt's share of the balance-sheet total rises from 83.1% to 99.5%. Equity and debt are lower.
Key figures and ratios
EBITDA
€51k▲
2024 · €49k
Cash flow
€40k▲
2024 · €38k
Current ratio
0.88▼
2024 · 1.11
ROA
32.2%▲
2024 · 16.7%
Interest coverage
41.11▲
2024 · 34.93
Debt ≤ 1 year
€111k▼
2024 · €168k
Income taxes
€10k▲
2024 · €10k
Equity ratios withheld: equity of €592 is too small for a meaningful ratio.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 45 lines
Balance sheet
Code20242025
Assets
Total assets20/58€203k€112k▼
Fixed assets21/28€16k€14k▼
Tangible fixed assets22/27€16k€14k▼
Plant, machinery and equipment23€3k€3k▼
Furniture and vehicles24€5k€4k▼
Other tangible fixed assets26€8k€8k=
Current assets29/58€187k€98k▼
Amounts receivable within one year40/41€80k€86k▲
Trade receivables40€75k€80k▲
Other amounts receivable41€5k€7k▲
Cash at bank and in hand54/58€106k€8k▼
Deferred charges and accrued income490/1€768€4k▲
Equity and liabilities
Total equity and liabilities10/49€203k€112k▼
Equity10/15€34k€592▼
Contributions10/11€500€500=
Reserves13€34k€92▼
Distributable reserves133€34k€92▼
Profit (loss) carried forward14€0€0=
Amounts payable17/49€168k€111k▼
Amounts payable within one year42/48€168k€111k▼
Financial debts43€165€146▼
Credit institutions430/8€165€146▼
Trade debts44€8k€18k▲
Suppliers440/4€8k€18k▲
Taxes, remuneration and social security45€45k€9k▼
Taxes450/3€45k€9k▼
Other amounts payable47/48€115k€84k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€4k€4k▼
Other operating charges640/8€2k€1k▼
Gross operating margin9900€51k€52k▲
Operating profit (loss)9901€45k€47k▲
Financial income75/76B€19€1▼
Recurring financial income75€19€1▼
Financial charges65/66B€1k€1k▼
Recurring financial charges65€1k€1k▼
Profit (loss) for the period before taxes9903€44k€46k▲
Income taxes67/77€10k€10k▲
Profit (loss) for the period9904€34k€36k▲
Profit (loss) for the period to be appropriated9905€34k€36k▲
Appropriation of the result
Profit (loss) to be appropriated9906€34k€36k▲
Transfer from equity791/2€136k€34k▼
Transfer to equity691/2€34k€92▼
To other reserves6921€34k€92▼
Profit to be distributed694/7€136k€70k▼
Return on contributions (dividend)694€136k€70k▼
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2k | €3k | €4k | €4k | ▼ 4.3% |
| Other operating charges640/8 | €1k | €1k | €2k | €1k | ▼ 23.8% |
| Gross operating margin9900 | €51k | €94k | €51k | €52k | ▲ 3.3% |
| Operating profit (loss)9901 | €48k | €90k | €45k | €47k | ▲ 4.9% |
| Financial income75/76B | €27 | €336 | €19 | €1 | ▼ 93.7% |
| Recurring financial income75 | €27 | €336 | €19 | €1 | ▼ 93.7% |
| Financial charges65/66B | €2k | €1k | €1k | €1k | ▼ 11.5% |
| Recurring financial charges65 | €2k | €1k | €1k | €1k | ▼ 11.5% |
| Profit (loss) for the period before taxes9903 | €46k | €89k | €44k | €46k | ▲ 5.3% |
| Income taxes67/77 | €9k | €18k | €10k | €10k | ▲ 1.1% |
| Profit (loss) for the period9904 | €37k | €70k | €34k | €36k | ▲ 6.6% |
| Profit (loss) for the period to be appropriated9905 | €37k | €70k | €34k | €36k | ▲ 6.6% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €95k | €172k | €203k | €112k | ▼ 44.7% |
| Fixed assets21/28 | €8k | €5k | €16k | €14k | ▼ 11.1% |
| Tangible fixed assets22/27 | €8k | €5k | €16k | €14k | ▼ 11.1% |
| Plant, machinery and equipment23 | €7k | €4k | €3k | €3k | ▼ 6.6% |
| Furniture and vehicles24 | €2k | €1k | €5k | €4k | ▼ 30.5% |
| Other tangible fixed assets26 | - | - | €8k | €8k | = |
| Current assets29/58 | €87k | €167k | €187k | €98k | ▼ 47.6% |
| Amounts receivable within one year40/41 | €21k | €45k | €80k | €86k | ▲ 7.8% |
| Trade receivables40 | €21k | €45k | €75k | €80k | ▲ 6.3% |
| Other amounts receivable41 | €27 | €60 | €5k | €7k | ▲ 30.5% |
| Cash at bank and in hand54/58 | €65k | €119k | €106k | €8k | ▼ 92.7% |
| Deferred charges and accrued income490/1 | €1k | €3k | €768 | €4k | ▲ 408% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €95k | €172k | €203k | €112k | ▼ 44.7% |
| Equity10/15 | €66k | €137k | €34k | €592 | ▼ 98.3% |
| Contributions10/11 | €500 | €500 | €500 | €500 | = |
| Reserves13 | €66k | €136k | €34k | €92 | ▼ 99.7% |
| Distributable reserves133 | €66k | €136k | €34k | €92 | ▼ 99.7% |
| Profit (loss) carried forward14 | - | - | €0 | €0 | - |
| Amounts payable17/49 | €29k | €35k | €168k | €111k | ▼ 33.8% |
| Amounts payable within one year42/48 | €29k | €35k | €168k | €111k | ▼ 33.8% |
| Financial debts43 | - | €180 | €165 | €146 | ▼ 11.4% |
| Credit institutions430/8 | - | €180 | €165 | €146 | ▼ 11.4% |
| Trade debts44 | €5k | €2k | €8k | €18k | ▲ 109% |
| Suppliers440/4 | €5k | €2k | €8k | €18k | ▲ 109% |
| Taxes, remuneration and social security45 | €22k | €28k | €45k | €9k | ▼ 79.4% |
| Taxes450/3 | €22k | €28k | €45k | €9k | ▼ 79.4% |
| Other amounts payable47/48 | €2k | €5k | €115k | €84k | ▼ 26.4% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €37k | €70k | €34k | €36k | ▲ 6.6% |
| + Depreciation and write-downs630 | €2k | €3k | €4k | €4k | ▼ 4.3% |
| Operating cash flow (approximation) | €38k | €73k | €38k | €40k | ▲ 5.5% |
| Investment in fixed assets (approximation) | - | €0 | €-15k | €-2k | ▲ 87.0% |
| Change in cash | - | €54k | €-13k | €-98k | ▼ 670% |
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
03-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
05-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet €34k ▼51.7%
Net result drops to €34k, the lowest in the series; recovery starts the following year.
01-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2022net €70k ▲91.8%
Operating result €90k, net result €70k, both a record.
31-12
Financial
Equity above €100kEq €137k ▲106%
2 profitable years in a row build equity to €137k.
06-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
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, Antwerpen · 1 establishment unit since 2021
Ground area
383 m²
Building footprint
120 m²
Volume, LiDAR
797 m³
Parcel 11313B0961/00C009, Flanders · tallest building 11.2 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
MVDN
since 20212.313.657.658
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11313B0961/00C009 | Flanders | 383 m² | 1 · 120 m² | 11.2 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.
Public money · subsidies and aid
Flemish government
2024 · 1 entry · 1,800 EUR awarded · 1,800 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 1,800 EUR | 1,800 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 24,497 companies in sector 82990 we hold annual accounts for 9,406. 669 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
Founded16-02-2021
Fiscal year end31-12
Activities, NACEBEL 2025
82990Other business support services
71111Activities of building architects
71113Urban planning and landscape architecture
74120Graphic design and visual communication
74201Photography, excluding press photography
Contact
E-mail
matthias.vanhoutteghem@gmail.com
Scores and ratios are computed by Checked and are not a credit decision.