MDVC
ActiveSummary
MDVC has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €2.35M and a net result of €-37k. Equity remains stable across the filed fiscal years (±1.2% per year). Its solvency ranks better than 68% of 19356 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability30▲+10
Solvency80=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €150k at 30 days acceptable
Liquidity short (current ratio 0.13 against 0.26 in 2023; short-term debt: 10.4% and cash: 1.3% of total assets), and 44.6% of the assets are financed with debt.
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
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% 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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
55.4%
Return on assets
-0.9%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 05-06-2025, 56 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
56 d early
2023
56 d early
2022
54 d early
2021
60 d early
2020
57 d early
2019
53 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€2.35M▼ 1.5%
2023 · €2.39M
2018: €1.83M
2019: €1.81M▼ -1.2% vs 2018lowest in 7 years
2020: €2.67M▲ +47.5% vs 2019highest in 7 years
2021: €2.53M▼ -5.1% vs 2020
2022: €2.47M▼ -2.6% vs 2021
2023: €2.39M▼ -3.1% vs 2022
2024: €2.35M▼ -1.5% vs 2023
2018 → 2024
Total assets
€4.25M▼ 2.3%
2023 · €4.35M
2018: €2.16M
2019: €2.13M▼ -1.5% vs 2018lowest in 7 years
2020: €3.29M▲ +54.9% vs 2019
2021: €4.31M▲ +30.9% vs 2020
2022: €4.48M▲ +4.0% vs 2021highest in 7 years
2023: €4.35M▼ -3.0% vs 2022
2024: €4.25M▼ -2.3% vs 2023
2018 → 2024
Net result
€-37k▲ 52.4%
2023 · €-77k
2018: €123k
2019: €-22k▼ -118% vs 2018
2020: €861k▲ +4055% vs 2019highest in 7 years
2021: €-137k▼ -116% vs 2020lowest in 7 years
2022: €-67k▲ +51.3% vs 2021
2023: €-77k▼ -15.3% vs 2022
2024: €-37k▲ +52.4% vs 2023
2018 → 2024
Working capital
€-384k▼ 44.0%
2023 · €-267k
2018: €-76k
2019: €-89k▼ -16.8% vs 2018
2020: €1.29M▲ +1560% vs 2019highest in 7 years
2021: €397k▼ -69.3% vs 2020
2022: €115k▼ -71.0% vs 2021
2023: €-267k▼ -332% vs 2022
2024: €-384k▼ -44.0% vs 2023lowest in 7 years
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€2.67M-€2.53M▼ 5.1%€2.47M▼ 2.6%€2.39M▼ 3.1%€2.35M▼ 1.5%
2020: €2.67Mhighest in 5 years
2021: €2.53M▼ -5.1% vs 2020
2022: €2.47M▼ -2.6% vs 2021
2023: €2.39M▼ -3.1% vs 2022
2024: €2.35M▼ -1.5% vs 2023lowest in 5 years
Operating result€1.17M-€-122k€-44k▲ 63.5%€-42k▲ 4.7%€4k
2020: €1.17Mhighest in 5 years
2021: €-122k▼ -110% vs 2020lowest in 5 years
2022: €-44k▲ +63.5% vs 2021
2023: €-42k▲ +4.7% vs 2022
2024: €4k▲ +110% vs 2023
Net result€861k-€-137k€-67k▲ 51.3%€-77k▼ 15.3%€-37k▲ 52.4%
2020: €861khighest in 5 years
2021: €-137k▼ -116% vs 2020lowest in 5 years
2022: €-67k▲ +51.3% vs 2021
2023: €-77k▼ -15.3% vs 2022
2024: €-37k▲ +52.4% vs 2023
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2024: €4k after a loss of €42k in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €4.25M
Fixed assets
€4.19M ▼ 1.4%
Current assets
€56k ▼ 40.8%
Equity and liabilities €4.25M
Equity
€2.35M ▼ 1.5%
Provisions
€259k ▼ 4.2%
Debt
€1.64M ▼ 3.0%
Debt's share of the balance-sheet total falls from 38.8% to 38.5%. Equity and debt are lower.
Key figures and ratios
EBITDA
€75k▲
2023 · €23k
Cash flow
€34k▲
2023 · €-12k
Current ratio
0.13▼
2023 · 0.26
Debt to equity
0.70▼
2023 · 0.71
ROE
-1.6%▲
2023 · -3.2%
ROA
-0.9%▲
2023 · -1.8%
Interest coverage
1.42▲
2023 · 0.46
Debt ≤ 1 year
€440k▲
2023 · €362k
Debt > 1 year
€1.19M▼
2023 · €1.33M
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 · 2024 against 2023 · 52 lines
Balance sheet
Code20232024
Assets
Total assets20/58€4.35M€4.25M▼
Fixed assets21/28€4.25M€4.19M▼
Tangible fixed assets22/27€4.25M€4.18M▼
Land and buildings22€4.13M€4.08M▼
Plant, machinery and equipment23€41€798▲
Other tangible fixed assets26€119k€103k▼
Financial fixed assets28€2k€13k▲
Current assets29/58€95k€56k▼
Amounts receivable within one year40/41€2k€93▼
Trade receivables40€2k€0▼
Other amounts receivable41€118€93▼
Cash at bank and in hand54/58€89k€55k▼
Deferred charges and accrued income490/1€5k€2k▼
Equity and liabilities
Total equity and liabilities10/49€4.35M€4.25M▼
Equity10/15€2.39M€2.35M▼
Contributions10/11€1.31M€1.31M=
Capital10€1.31M€1.31M=
Issued capital100€1.31M€1.31M=
Reserves13€942k€908k▼
Non-distributable reserves130/1€131k€131k=
Legal reserve130€131k€131k=
Tax-exempt reserves132€811k€777k▼
Profit (loss) carried forward14€138k€136k▼
Provisions and deferred taxes16€270k€259k▼
Deferred taxes168€270k€259k▼
Amounts payable17/49€1.69M€1.64M▼
Amounts payable after more than one year17€1.33M€1.19M▼
Financial debts170/4€1.33M€1.19M▼
Other amounts payable178/9€150€540▲
Amounts payable within one year42/48€362k€440k▲
Current portion of amounts payable after more than one year42-€64k
Trade debts44€9k€0▼
Suppliers440/4€9k€0▼
Taxes, remuneration and social security45€6k€8k▲
Taxes450/3€6k€8k▲
Other amounts payable47/48€348k€368k▲
Accrued charges and deferred income492/3€713€7k▲
Income statement
Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€65k€71k▲
Other operating charges640/8€6k€13k▲
Gross operating margin9900€29k€88k▲
Operating profit (loss)9901€-42k€4k▲
Financial income75/76B€3k€360▼
Recurring financial income75€3k€360▼
Financial charges65/66B€49k€53k▲
Recurring financial charges65€49k€53k▲
Profit (loss) for the period before taxes9903€-89k€-48k▲
Transfer from deferred taxes780€11k€11k▲
Profit (loss) for the period9904€-77k€-37k▲
Transfer from tax-exempt reserves789€34k€34k▲
Profit (loss) for the period to be appropriated9905€-43k€-2k▲
Appropriation of the result
Profit (loss) to be appropriated9906€138k€136k▼
Profit (loss) brought forward from the previous period14P€181k€138k▼
The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9k | €124k | €54k | €65k | €71k | ▲ 9.7% |
| Other operating charges640/8 | - | €3k | €6k | €6k | €13k | ▲ 111% |
| Gross operating margin9900 | €1.18M | €6k | €16k | €29k | €88k | ▲ 208% |
| Operating profit (loss)9901 | €1.17M | €-122k | €-44k | €-42k | €4k | ▲ 110% |
| Financial income75/76B | - | - | - | €3k | €360 | ▼ 86.6% |
| Recurring financial income75 | €0 | - | - | €3k | €360 | ▼ 86.6% |
| Financial charges65/66B | - | €18k | €32k | €49k | €53k | ▲ 7.8% |
| Recurring financial charges65 | €13k | €18k | €32k | €49k | €53k | ▲ 7.8% |
| Profit (loss) for the period before taxes9903 | €1.15M | €-139k | €-76k | €-89k | €-48k | ▲ 45.6% |
| Transfer from deferred taxes780 | - | €2k | €9k | €11k | €11k | ▲ 0.4% |
| Profit (loss) for the period9904 | €861k | €-137k | €-67k | €-77k | €-37k | ▲ 52.4% |
| Transfer from tax-exempt reserves789 | - | €5k | €28k | €34k | €34k | ▲ 0.4% |
| Profit (loss) for the period to be appropriated9905 | €-18k | €-132k | €-39k | €-43k | €-2k | ▲ 94.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.29M | €4.31M | €4.48M | €4.35M | €4.25M | ▼ 2.3% |
| Fixed assets21/28 | €1.67M | €3.59M | €4.03M | €4.25M | €4.19M | ▼ 1.4% |
| Tangible fixed assets22/27 | €1.67M | €3.59M | €4.03M | €4.25M | €4.18M | ▼ 1.6% |
| Land and buildings22 | - | €3.53M | €3.90M | €4.13M | €4.08M | ▼ 1.3% |
| Plant, machinery and equipment23 | - | €1k | €539 | €41 | €798 | ▲ 1,831% |
| Other tangible fixed assets26 | - | €55k | €125k | €119k | €103k | ▼ 13.3% |
| Financial fixed assets28 | - | - | €562 | €2k | €13k | ▲ 509% |
| Current assets29/58 | €1.62M | €726k | €454k | €95k | €56k | ▼ 40.8% |
| Amounts receivable within one year40/41 | - | - | - | €2k | €93 | ▼ 94.5% |
| Trade receivables40 | - | - | - | €2k | €0 | ▼ 100% |
| Other amounts receivable41 | - | - | - | €118 | €93 | ▼ 21.1% |
| Cash at bank and in hand54/58 | €1.62M | €723k | €454k | €89k | €55k | ▼ 38.5% |
| Deferred charges and accrued income490/1 | - | €3k | €600 | €5k | €2k | ▼ 64.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.29M | €4.31M | €4.48M | €4.35M | €4.25M | ▼ 2.3% |
| Equity10/15 | €2.67M | €2.53M | €2.47M | €2.39M | €2.35M | ▼ 1.5% |
| Contributions10/11 | €1.31M | €1.31M | €1.31M | €1.31M | €1.31M | = |
| Capital10 | - | €1.31M | €1.31M | €1.31M | €1.31M | = |
| Issued capital100 | - | €1.31M | €1.31M | €1.31M | €1.31M | = |
| Reserves13 | €1.01M | €1.00M | €976k | €942k | €908k | ▼ 3.7% |
| Non-distributable reserves130/1 | - | €131k | €131k | €131k | €131k | = |
| Legal reserve130 | - | €131k | €131k | €131k | €131k | = |
| Tax-exempt reserves132 | - | €874k | €845k | €811k | €777k | ▼ 4.2% |
| Profit (loss) carried forward14 | €352k | €220k | €181k | €138k | €136k | ▼ 1.7% |
| Provisions and deferred taxes16 | €293k | €291k | €282k | €270k | €259k | ▼ 4.2% |
| Deferred taxes168 | - | €291k | €282k | €270k | €259k | ▼ 4.2% |
| Amounts payable17/49 | €329k | €1.49M | €1.73M | €1.69M | €1.64M | ▼ 3.0% |
| Amounts payable after more than one year17 | - | €1.16M | €1.39M | €1.33M | €1.19M | ▼ 10.2% |
| Financial debts170/4 | - | €1.16M | €1.39M | €1.33M | €1.19M | ▼ 10.2% |
| Other amounts payable178/9 | - | - | - | €150 | €540 | ▲ 260% |
| Amounts payable within one year42/48 | €328k | €329k | €339k | €362k | €440k | ▲ 21.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €64k | - |
| Trade debts44 | €3k | - | €1k | €9k | €0 | ▼ 100% |
| Suppliers440/4 | - | - | €1k | €9k | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | - | €4k | €4k | €6k | €8k | ▲ 46.5% |
| Taxes450/3 | - | €4k | €4k | €6k | €8k | ▲ 46.5% |
| Other amounts payable47/48 | - | €325k | €334k | €348k | €368k | ▲ 5.8% |
| Accrued charges and deferred income492/3 | - | €650 | €715 | €713 | €7k | ▲ 883% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €861k | €-137k | €-67k | €-77k | €-37k | ▲ 52.4% |
| + Depreciation and write-downs630 | €9k | €124k | €54k | €65k | €71k | ▲ 9.7% |
| Operating cash flow (approximation) | €870k | €-14k | €-13k | €-12k | €34k | ▲ 375% |
| Investment in fixed assets (approximation) | - | €-2.04M | €-497k | €-289k | €-11k | ▲ 96.0% |
| Change in cash | - | €-896k | €-269k | €-365k | €-34k | ▲ 90.7% |
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
2025
05-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
05-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
07-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
01-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Weakest financial yearnet €-137k
Net result drops to €-137k, the lowest in the series; recovery starts the following year.
04-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Back to profitnet €861k
Net result €861k after one loss-making year.
31-12
Financial
Liquidity times 7current ratio 4.94
Current ratio from 0.72 to 4.94.
31-12
Financial
Equity above €2MEq €2.67M ▲47.5%
Equity rises from €1.81M to €2.67M.
08-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
27-05
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
28-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
12-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
27-06
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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
7 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
Ground area
201 m²
Building footprint
163 m²
Volume, LiDAR
1,579 m³
Parcel 11811L3636/00R000, Flanders · tallest building 16.5 m, ±3 floors. Linked by address, not a title deed.
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11811L3636/00R000indicative | Flanders | 201 m² | 1 · 163 m² | 16.5 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
0 of 1 parcel 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
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CHRISAR
BE 0456.972.740
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HUVECO
BE 0810.670.273
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RISO IMMO
BE 0463.790.256
Herstal · Eq €2,361,432
Of 12,020 companies in sector 68203 we hold annual accounts for 5,986. 3,480 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded19-07-2002
Fiscal year end31-12
Activities, NACEBEL 2025
68203Renting and operating of own or leased non-residential real estate, excluding land
Scores and ratios are computed by Checked and are not a credit decision.