Checked.be
Active
BE 0889.531.273Private limited company
MD Grondwerken
Bastijnstraat 125 ·2590 Berlaar, Belgium· 19 yrs active
Sector: Landscape service activities
(81300)
Conclusion
MD Grondwerken has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €624k and a net result of €119k. Equity is growing by ~5.6% per year across the filed fiscal years. Its solvency ranks better than 55% of 1074 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.8% (low).
Based on the State Gazette, CBE and 5 annual accounts.
Key figures
| Equity | €624k |
| Net result | €119k |
| Staff (FTE) | 4.2 |
| Better than sector | 55% |
Financial profile
94
/ 100
Exceptional profile, strong across almost every axis.
All 5 axes are computed from data Checked has read.
Health
100
Profitability
95
Solvency
99
Growth
78
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Established
Founded in 2007, 19 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
100
/ 100
Excellent
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€60k
estimate, not credit advice
Score history
86
2021
86
2022
76
2023
94
2024
100
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 3.05 (≥ 1.5)
+10
Quick ratio
Quick ratio 2.84 (≥ 1.0)
+5
Leverage
Debt/equity 0.64 (< 1.0)
+10
Profitability
ROE 19% (≥ 10%)
+10
Interest coverage
Interest coverage 23.9× (≥ 3×)
+8
Profit trend
Net profit up YoY
+5
Equity growth
Equity growing YoY
+3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 31-08-2026 with the NBB · fiscal year 2025 · abbreviated schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Equity: growth of ~5.6%/year over 5 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2024 · NACE 81, Services to buildings and landscape activities · compared within the same schema type (abbreviated schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 46.2% | 42.0% | |
| Net result | €95k | €38k | |
| Equity | €555k | €323k | |
| Gross operating margin | €760k | €369k | |
| Staff costs | €333k | €279k |
€400k
-2.6%
21-25
€119k
+25.8%
21-25
€333k
-2.5%
21-25
€1.03M
-14.4%
21-25
€624k
+12.4%
21-25
€467k
+30.3%
21-25
4
-16.0%
21-25
€273k
-18.0%
21-25
€52k
+42.6%
21-25
€50k
-10.7%
21-25
€398k
-37.6%
21-25
€228k
-31.5%
21-25
€170k
-44.4%
21-25
3.05
+46.7%
21-25
2.84
+52.6%
21-25
60.7%
+31.3%
21-25
0.64
-44.5%
21-25
19.1%
+11.9%
21-25
11.6%
+46.9%
21-25
23.89
+51.7%
21-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Deposit | abbreviated schema | abbreviated schema | abbreviated schema | micro schema | abbreviated schema |
| Revenue | - | - | - | - | - |
| EBITDA | €400k | €410k | €260k | €311k | €341k |
| Net profit | €119k | €95k | €26k | €74k | €99k |
| Cash flow | €333k | €342k | €239k | €288k | €318k |
| Staff costs | €273k | €333k | €310k | €242k | €222k |
| Income taxes | €52k | €37k | €6k | €12k | €11k |
| Dividends | €50k | €56k | €68k | - | €27k |
| Total assets | €1.03M | €1.20M | €1.45M | €1.40M | €1.28M |
| Equity | €624k | €555k | €517k | €559k | €485k |
| Debt | €398k | €639k | €931k | €837k | €794k |
| of which ≤ 1y | €228k | €333k | €368k | €317k | €301k |
| of which > 1y | €170k | €306k | €563k | €520k | €493k |
| Working capital | €467k | €358k | €188k | €271k | €243k |
| Employees (FTE) | 4.2 | 5.0 | 5.0 | 4.2 | 4.1 |
Note: these years are not on the same basis. The filed schemas differ (abbreviated schema, micro schema), so the columns are not directly comparable.
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 3.05 | 2.08 | 1.51 | 1.86 | 1.81 |
| Quick ratio | 2.84 | 1.86 | 1.40 | 1.74 | 1.71 |
| Working capital ratio | 45.4% | 29.8% | 13.0% | 19.4% | 19.0% |
| Solvency | 60.7% | 46.2% | 35.7% | 40.0% | 37.9% |
| Debt / equity | 0.64 | 1.15 | 1.80 | 1.50 | 1.64 |
| Long-term debt ratio | 0.27 | 0.55 | 1.09 | 0.93 | 1.02 |
| Interest coverage | 23.89 | 15.75 | 17.41 | 27.53 | 27.62 |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | 11.6% | 7.9% | 1.8% | 5.3% | 7.7% |
| ROE | 19.1% | 17.0% | 5.0% | 13.3% | 20.3% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (26 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €1.03M | €1.20M | €1.45M | €1.40M | €1.28M |
| Fixed assets | 21/28 | €334k | €510k | €893k | €809k | €736k |
| Tangible fixed assets | 22/27 | €334k | €510k | €893k | €809k | €735k |
| Financial fixed assets | 28 | - | - | - | - | €675 |
| Current assets | 29/58 | €695k | €691k | €555k | €588k | €544k |
| Stocks & contracts in progress | 3 | €46k | €71k | €42k | €36k | €27k |
| Amounts receivable within one year | 40/41 | €320k | €421k | €331k | €302k | €234k |
| Cash & bank | 54/58 | €314k | €173k | €131k | €212k | €255k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €1.03M | €1.20M | €1.45M | €1.40M | €1.28M |
| Equity | 10/15 | €624k | €555k | €517k | €559k | €485k |
| Contributions / capital | 10/11 | €19k | €19k | €19k | €19k | €19k |
| Reserves | 13 | €460k | €396k | €358k | €400k | €327k |
| Accumulated profits (losses) | 14 | €145k | €141k | €140k | €140k | €139k |
| Provisions & deferred taxes | 16 | €6k | €7k | €533 | €900 | €1k |
| Amounts payable | 17/49 | €398k | €639k | €931k | €837k | €794k |
| Amounts payable after one year | 17 | €170k | €306k | €563k | €520k | €493k |
| Amounts payable within one year | 42/48 | €228k | €333k | €368k | €317k | €301k |
| Trade debts payable within one year | 44 | €20k | €36k | €120k | €61k | €46k |
| Income statement | ||||||
| Gross operating margin | 9900 | €679k | €760k | €577k | €559k | €569k |
| Operating result | 9901 | €186k | €163k | €47k | €97k | €122k |
| Financial income | 75 | €2k | €214 | - | - | €18 |
| Financial charges | 65 | €17k | €26k | €15k | €11k | €12k |
| Result before taxes | 9903 | €170k | €137k | €32k | €86k | €109k |
| Income taxes | 67/77 | €52k | €37k | €6k | €12k | €11k |
| Net result for the period | 9904 | €119k | €95k | €26k | €74k | €99k |
| Result to be appropriated | 9905 | €121k | €77k | €27k | €76k | €100k |
Legal Structure
| NACE primary | Landscape service activities(81300) |
| Legal form | Private limited company(610) |
| Incorporation | 21-05-2007 |
| Status | Active |
| Postal code | 2590 |
Establishment units
MD Grondwerken BV
since 20072.162.762.676
Real-estate footprint
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12002A0592/00G000 | Flanders | 552 m² | 1 · 243 m² | 6.8 m · 1 fl. |
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 31 days late
2025
31-12
Financial
Highest result since 2021net €119k ▲25.8%
Operating result €186k, net result €119k, both a record.
24-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
24-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 24 days late
2023
31-12
Financial
Weakest financial yearnet €26k ▼65.1%
Net result drops to €26k, the lowest in the series; recovery starts the following year.
22-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 22 days late
2022
31-12
Financial
Equity above €500kEq €559k ▲15.3%
2 profitable years in a row build equity to €559k.
18-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 18 days late
2021
16-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 16 days late
2020
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 31 days late
2019
22-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 22 days late
2018
24-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 24 days late
2017
28-07
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.
Belgian State Gazette reading coverage
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
Raising of dairy cattle01410Site preparation43120Landscape service activities81300Demolition431104511145112
Names & trade names
| Legal nameNL | MD Grondwerken |
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