MEDCOT
ActiveSummary
MEDCOT has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €294k and a net result of €225. Equity remains stable across the filed fiscal years (±0.4% per year). Its solvency ranks better than 43% of 524 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability39▼-17
Solvency79▼-1
Growth52=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €21k at 30 days acceptable
Liquidity ample (current ratio 15.18 against 21.56 in 2024; short-term debt: 5% and cash: 20.6% of total assets), and 45.9% 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 72
Relative position
BE, all sectors
reference
Scientific research and development (NACE 72)
about 30% 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
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
54.1%
Return on assets
0%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 24-08-2026, 24 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
24 d late
2024
29 d late
2023
67 d late
2022
24 d late
2021
26 d late
2020
60 d late
2019
83 d late
← 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
€294k▼ 7.9%
2024 · €319k
2018: €260klowest in 8 years
2019: €328k▲ +26.3% vs 2018
2020: €361k▲ +10.1% vs 2019
2021: €410k▲ +13.4% vs 2020
2022: €425k▲ +3.8% vs 2021highest in 8 years
2023: €351k▼ -17.5% vs 2022
2024: €319k▼ -9.2% vs 2023
2025: €294k▼ -7.9% vs 2024
2018 → 2025
Total assets
€543k▼ 5.6%
2024 · €575k
2018: €622k
2019: €669k▲ +7.6% vs 2018
2020: €728k▲ +8.8% vs 2019highest in 8 years
2021: €728k▼ -0.1% vs 2020
2022: €721k▼ -0.9% vs 2021
2023: €655k▼ -9.1% vs 2022
2024: €575k▼ -12.3% vs 2023
2025: €543k▼ -5.6% vs 2024lowest in 8 years
2018 → 2025
Net result
€225▼ 98.9%
2024 · €20k
2018: €52k
2019: €68k▲ +31.4% vs 2018highest in 8 years
2020: €33k▼ -51.3% vs 2019
2021: €42k▲ +27.2% vs 2020
2022: €15k▼ -63.6% vs 2021
2023: €-8k▼ -154% vs 2022lowest in 8 years
2024: €20k▲ +342% vs 2023
2025: €225▼ -98.9% vs 2024
2018 → 2025
Working capital
€386k▼ 8.6%
2024 · €422k
2018: €338klowest in 8 years
2019: €416k▲ +23.0% vs 2018
2020: €432k▲ +3.8% vs 2019
2021: €487k▲ +12.8% vs 2020
2022: €511k▲ +4.9% vs 2021highest in 8 years
2023: €440k▼ -14.0% vs 2022
2024: €422k▼ -4.0% vs 2023
2025: €386k▼ -8.6% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€410k-€425k▲ 3.8%€351k▼ 17.5%€319k▼ 9.2%€294k▼ 7.9%
2021: €410k
2022: €425k▲ +3.8% vs 2021highest in 5 years
2023: €351k▼ -17.5% vs 2022
2024: €319k▼ -9.2% vs 2023
2025: €294k▼ -7.9% vs 2024lowest in 5 years
Operating result€68k-€27k▼ 59.9%€-8k€43k€29k▼ 34.2%
2021: €68khighest in 5 years
2022: €27k▼ -59.9% vs 2021
2023: €-8k▼ -130% vs 2022lowest in 5 years
2024: €43k▲ +621% vs 2023
2025: €29k▼ -34.2% vs 2024
Net result€42k-€15k▼ 63.6%€-8k€20k€225▼ 98.9%
2021: €42khighest in 5 years
2022: €15k▼ -63.6% vs 2021
2023: €-8k▼ -154% vs 2022lowest in 5 years
2024: €20k▲ +342% vs 2023
2025: €225▼ -98.9% 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 falls in 2025; 2025 is 34% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €543k
Fixed assets
€130k ▼ 2.1%
Current assets
€413k ▼ 6.7%
Equity and liabilities €543k
Equity
€294k ▼ 7.9%
Provisions
€108k =
Debt
€141k ▼ 4.8%
Debt's share of the balance-sheet total rises from 25.7% to 25.9%. Equity and debt are lower.
Key figures and ratios
EBITDA
€47k▼
2024 · €72k
Cash flow
€19k▼
2024 · €49k
Current ratio
15.18▼
2024 · 21.56
Debt to equity
0.48▲
2024 · 0.46
ROE
0.1%▼
2024 · 6.2%
ROA
0.0%▼
2024 · 3.5%
Interest coverage
2.43▼
2024 · 3.95
Debt ≤ 1 year
€27k▲
2024 · €21k
Debt > 1 year
€114k▼
2024 · €127k
Income taxes
€12k▼
2024 · €14k
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 · 56 lines
Balance sheet
Code20242025
Assets
Total assets20/58€575k€543k▼
Fixed assets21/28€133k€130k▼
Tangible fixed assets22/27€133k€130k▼
Land and buildings22€16k€25k▲
Plant, machinery and equipment23€9k€7k▼
Furniture and vehicles24€5k€6k▲
Leasing and similar rights25€103k€92k▼
Current assets29/58€443k€413k▼
Amounts receivable after more than one year29€82k-
Other amounts receivable291€82k-
Amounts receivable within one year40/41€19k€10k▼
Trade receivables40€2k-
Other amounts receivable41€18k€10k▼
Current investments50/53€123k€123k=
Cash at bank and in hand54/58€52k€112k▲
Deferred charges and accrued income490/1€166k€168k▲
Equity and liabilities
Total equity and liabilities10/49€575k€543k▼
Equity10/15€319k€294k▼
Contributions10/11€19k€19k=
Reserves13€300k€275k▼
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€298k€273k▼
Profit (loss) carried forward14-€225
Provisions and deferred taxes16€108k€108k=
Provisions for liabilities and charges160/5€108k€108k=
Pensions and similar obligations160€108k€108k=
Amounts payable17/49€148k€141k▼
Amounts payable after more than one year17€127k€114k▼
Financial debts170/4€127k€114k▼
Amounts payable within one year42/48€21k€27k▲
Current portion of amounts payable after more than one year42€13k€14k▲
Trade debts44€135€452▲
Suppliers440/4€135€452▲
Taxes, remuneration and social security45€3k€504▼
Taxes450/3€3k€504▼
Other amounts payable47/48€4k€12k▲
Income statement
Code20242025
Non-recurring operating income76A-€191
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€29k€19k▼
Other operating charges640/8€3k€6k▲
Gross operating margin9900€75k€53k▼
Operating profit (loss)9901€43k€29k▼
Financial income75/76B€9k€3k▼
Recurring financial income75€9k€3k▼
Financial charges65/66B€18k€19k▲
Recurring financial charges65€18k€19k▲
Profit (loss) for the period before taxes9903€34k€13k▼
Income taxes67/77€14k€12k▼
Profit (loss) for the period9904€20k€225▼
Profit (loss) for the period to be appropriated9905€20k€225▼
Appropriation of the result
Profit (loss) to be appropriated9906€20k€225▼
Transfer from equity791/2€52k€25k▼
Transfer to equity691/2€20k-
To other reserves6921€20k-
Profit to be distributed694/7€52k€25k▼
Return on contributions (dividend)694€52k€25k▼
The notes to these accounts (10 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €2k | €2k | - | - | €191 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €29k | €31k | €30k | €29k | €19k | ▼ 35.4% |
| Other operating charges640/8 | €2k | €2k | €6k | €3k | €6k | ▲ 149% |
| Non-recurring operating charges66A | - | - | €32k | - | - | - |
| Gross operating margin9900 | €99k | €61k | €59k | €75k | €53k | ▼ 28.4% |
| Operating profit (loss)9901 | €68k | €27k | €-8k | €43k | €29k | ▼ 34.2% |
| Financial income75/76B | €15k | €14k | €13k | €9k | €3k | ▼ 61.7% |
| Recurring financial income75 | €15k | €14k | €13k | €9k | €3k | ▼ 61.7% |
| Financial charges65/66B | €15k | €15k | €10k | €18k | €19k | ▲ 5.9% |
| Recurring financial charges65 | €15k | €15k | €10k | €18k | €19k | ▲ 5.9% |
| Profit (loss) for the period before taxes9903 | €68k | €27k | €-5k | €34k | €13k | ▼ 62.9% |
| Income taxes67/77 | €26k | €11k | €3k | €14k | €12k | ▼ 12.7% |
| Profit (loss) for the period9904 | €42k | €15k | €-8k | €20k | €225 | ▼ 98.9% |
| Profit (loss) for the period to be appropriated9905 | €42k | €15k | €-8k | €20k | €225 | ▼ 98.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €728k | €721k | €655k | €575k | €543k | ▼ 5.6% |
| Fixed assets21/28 | €211k | €180k | €160k | €133k | €130k | ▼ 2.1% |
| Tangible fixed assets22/27 | €211k | €180k | €160k | €133k | €130k | ▼ 2.1% |
| Land and buildings22 | €31k | €25k | €20k | €16k | €25k | ▲ 58.8% |
| Plant, machinery and equipment23 | - | - | €9k | €9k | €7k | ▼ 14.6% |
| Furniture and vehicles24 | €42k | €29k | €17k | €5k | €6k | ▲ 14.8% |
| Leasing and similar rights25 | €137k | €126k | €115k | €103k | €92k | ▼ 11.1% |
| Current assets29/58 | €517k | €541k | €495k | €443k | €413k | ▼ 6.7% |
| Amounts receivable after more than one year29 | €188k | €188k | €148k | €82k | - | - |
| Other amounts receivable291 | €188k | €188k | €148k | €82k | - | - |
| Amounts receivable within one year40/41 | €25k | €41k | €36k | €19k | €10k | ▼ 47.5% |
| Trade receivables40 | - | - | - | €2k | - | - |
| Other amounts receivable41 | €25k | €41k | €36k | €18k | €10k | ▼ 42.7% |
| Current investments50/53 | €123k | €123k | €123k | €123k | €123k | = |
| Cash at bank and in hand54/58 | €52k | €45k | €31k | €52k | €112k | ▲ 114% |
| Deferred charges and accrued income490/1 | €129k | €144k | €158k | €166k | €168k | ▲ 1.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €728k | €721k | €655k | €575k | €543k | ▼ 5.6% |
| Equity10/15 | €410k | €425k | €351k | €319k | €294k | ▼ 7.9% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €391k | €407k | €332k | €300k | €275k | ▼ 8.4% |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | €2k | €2k | €2k | €2k | €2k | = |
| Distributable reserves133 | €389k | €405k | €331k | €298k | €273k | ▼ 8.5% |
| Profit (loss) carried forward14 | - | - | - | - | €225 | - |
| Provisions and deferred taxes16 | €108k | €108k | €108k | €108k | €108k | = |
| Provisions for liabilities and charges160/5 | €108k | €108k | €108k | €108k | €108k | = |
| Pensions and similar obligations160 | €108k | €108k | €108k | €108k | €108k | = |
| Amounts payable17/49 | €209k | €187k | €196k | €148k | €141k | ▼ 4.8% |
| Amounts payable after more than one year17 | €180k | €158k | €141k | €127k | €114k | ▼ 10.9% |
| Financial debts170/4 | €180k | €158k | €141k | €127k | €114k | ▼ 10.9% |
| Amounts payable within one year42/48 | €29k | €30k | €55k | €21k | €27k | ▲ 32.5% |
| Current portion of amounts payable after more than one year42 | €28k | €27k | €25k | €13k | €14k | ▲ 4.0% |
| Trade debts44 | €532 | €2k | €6k | €135 | €452 | ▲ 234% |
| Suppliers440/4 | €532 | €2k | €6k | €135 | €452 | ▲ 234% |
| Taxes, remuneration and social security45 | €504 | €504 | €5k | €3k | €504 | ▼ 83.8% |
| Taxes450/3 | €504 | €504 | €5k | €3k | €504 | ▼ 83.8% |
| Other amounts payable47/48 | - | - | €19k | €4k | €12k | ▲ 211% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €42k | €15k | €-8k | €20k | €225 | ▼ 98.9% |
| + Depreciation and write-downs630 | €29k | €31k | €30k | €29k | €19k | ▼ 35.4% |
| Operating cash flow (approximation) | €71k | €46k | €22k | €49k | €19k | ▼ 61.4% |
| Investment in fixed assets (approximation) | - | €0 | €-10k | €-1k | €-16k | ▼ 1,401% |
| Change in cash | - | €-6k | €-15k | €22k | €59k | ▲ 174% |
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
24-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 24 days late
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
31-12
Financial
Back to profitnet €20k
Net result €20k after one loss-making year.
31-12
Financial
Liquidity doublescurrent ratio 21.56
Current ratio from 8.93 to 21.56; short-term debt falls from €55k to €21k.
06-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 67 days late
2023
31-12
Financial
Weakest financial yearnet €-8k
Net result drops to €-8k, the lowest in the series; recovery starts the following year.
24-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 24 days late
2022
26-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 26 days late
2021
31-12
Financial
Liquidity doublescurrent ratio 17.67
Current ratio from 8.62 to 17.67; short-term debt falls from €57k to €29k.
29-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 60 days late
2020
22-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 83 days late
2019
31-12
Financial
Highest result since 2018net €68k ▲31.4%
Operating result €97k, net result €68k, both a record.
Show earlier events
27-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 27 days late
2018
27-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 58 days late
2017
28-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
Location & real-estate footprint
Registered office, Waterloo
Ground area
821 m²
Building footprint
143 m²
Volume, LiDAR
778 m³
Parcel 25762H0146/00_000, Wallonia · tallest building 8.2 m, ±2 floors. Linked by address, not a title deed.
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25762H0146/00_000 | Wallonia | 821 m² | 1 · 143 m² | 8.2 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.
Similar companies · same sector, comparable size
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MethodX
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ENVIRONMENTAL CONSULTANCY & COORDINATION
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DOCTEUR MICHEL DE JONGHE
BE 0881.630.129
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Of 1,177 companies in sector 72109 we hold annual accounts for 716. 484 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 (pre-2019)
Founded31-03-2004
Fiscal year end31-12
Activities, NACEBEL 2025
72109Other research and development on natural sciences
70200Business and other management consultancy
Scores and ratios are computed by Checked and are not a credit decision.