ACTIVE

M.D. GESTION

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Financial year 2024 · closed on 31/12/2024

Net result

161,4 k €

+156.6% YoY

Gross margin

346,1 k €

+62.0% YoY

Equity

6,5 M €

-2.9% YoY

What does M.D. GESTION do?

M.D. GESTION is a Public limited company incorporated in 1992. Its main activity is: Passenger air transport. Its registered office is in Marche-en-Famenne.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0449.069.814

Incorporation

31/12/1992

Legal form

Public limited company

Registered office

Marche,Boucle de la Famenne 12
6900 Marche-en-Famenne · WallonieSee on map

Contributed capital

62 000,00 €

Latest accounts

31/12/2024

Activities (NACE)

51180Passenger air transport· main 68203Rental and operating of own or leased real estate 68203Rental and operating of own or leased real estate 46180Agents specialised in the sale of other particular products 46180Agents specialised in the sale of other particular products

Joint committees (2)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	346,1 k €	+62.0%	213,6 k €	-57.6%	504,1 k €	+453%	91,2 k €	-71.5%	319,5 k €	+23.1%	259,5 k €	-30.3%	372,3 k €	-26.3%	505 k €	+72.5%	292,8 k €	+9.3%	268 k €	+3.5%	258,9 k €	+14.9%	225,2 k €	-12.1%	256,4 k €	+7.1%	239,3 k €	+15.3%	207,5 k €	+6.6%	194,6 k €	+2.0%	190,8 k €	-14.4%	222,9 k €	+6.2%	210 k €
EBITDA	315,8 k €	+72.3%	183,3 k €	-44.3%	329,3 k €	+376%	69,2 k €	-75.9%	286,7 k €	+22.5%	234 k €	-34.0%	354,7 k €	+83.0%	193,8 k €	+1.1%	191,6 k €	-16.1%	228,4 k €	-6.1%	243,3 k €	+18.8%	204,8 k €	-1.4%	207,8 k €	-7.5%	224,6 k €	+14.1%	196,9 k €	+7.5%	183,2 k €	+4.7%	174,9 k €	-17.3%	211,7 k €	+5.2%	201,3 k €
Operating result	43,6 k €	+516%	-10,5 k €	-107%	140,4 k €	+171%	-198,3 k €	-333%	85 k €	+81.4%	46,9 k €	-70.2%	157,2 k €	+178%	56,5 k €	-29.0%	79,6 k €	-50.0%	159,1 k €	-5.3%	168 k €	+34.2%	125,1 k €	+149%	50,2 k €	-61.4%	130,1 k €	+11.1%	117,1 k €	+3.6%	113,1 k €	+21.2%	93,3 k €	-40.4%	156,7 k €	+12.1%	139,8 k €
Net result	161,4 k €	+157%	62,9 k €	-66.1%	185,4 k €	+298%	-93,5 k €	-102%	3,9 M €	+994%	354,9 k €	-10.5%	396,6 k €	-18.6%	487,2 k €	+52.2%	320,1 k €	-3.5%	331,6 k €	-2.2%	339,1 k €	-5.1%	357,3 k €	+773%	-53,1 k €	-112%	432,1 k €	+3.7%	416,7 k €	-40.4%	699,4 k €	+55.7%	449,1 k €	+16.3%	386,1 k €	-24.9%	514,1 k €
Balance sheet
Equity	6,5 M €	-2.9%	6,7 M €	-4.8%	7 M €	-2.8%	7,2 M €	-1.3%	7,3 M €	+113%	3,4 M €	+11.5%	3,1 M €	-31.0%	4,5 M €	+12.2%	4 M €	+8.7%	3,7 M €	+4.9%	3,5 M €	+155%	1,4 M €	-57.6%	3,2 M €	-7.2%	3,5 M €	+14.1%	3,1 M €	+7.6%	2,8 M €	-15.2%	3,4 M €	+8.0%	3,1 M €	+6.4%	2,9 M €
Total assets	10 M €	-2.1%	10,2 M €	-4.0%	10,6 M €	+0.8%	10,6 M €	+13.9%	9,3 M €	+72.0%	5,4 M €	+5.7%	5,1 M €	+8.5%	4,7 M €	+10.8%	4,2 M €	+5.8%	4 M €	+1.4%	4 M €	-7.1%	4,3 M €	+4.5%	4,1 M €	+10.4%	3,7 M €	+0.6%	3,7 M €	-0.9%	3,7 M €	+0.9%	3,7 M €	+3.3%	3,6 M €	-1.9%	3,6 M €
Cash	1,3 M €	+33.7%	989,1 k €	-59.1%	2,4 M €	+33.0%	1,8 M €	+4.7%	1,7 M €	+119%	794,2 k €	+95.0%	407,3 k €	-62.1%	1,1 M €	+40.5%	765,1 k €	+34.0%	571 k €	+135%	242,7 k €	+24.6%	194,8 k €	-53.3%	416,7 k €	+24.9%	333,6 k €	-18.4%	408,8 k €	+966%	38,3 k €	-84.2%	242,9 k €	+68.8%	143,9 k €	+443%	26,5 k €
Debts	3,4 M €	+1.3%	3,3 M €	-4.0%	3,5 M €	+7.2%	3,2 M €	+75.0%	1,8 M €	-0.0%	1,8 M €	-4.9%	1,9 M €	+1004%	176,1 k €	-31.0%	255,2 k €	-13.9%	296,3 k €	-28.0%	411,8 k €	-85.5%	2,8 M €	+241%	829,9 k €	+348%	185,4 k €	-68.5%	588,4 k €	-30.4%	845,4 k €	+170%	312,8 k €	-29.6%	444,4 k €	-36.6%	700,6 k €
Other
Workforce	–		–		–		–		–		–		–		–		–		–		–		0,1 ETP	-90.0%	1,0 ETP	0.0%	1,0 ETP		–		–		–		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2024 · 2 active · 18 ended

Active mandates

Christiane DEVILLE

Chairman of the board of directors · since 05 juin 2023 · until 04 juin 2029

Active

Michel DELHAYE

Managing director · since 05 juin 2023 · until 04 juin 2029

Active

Ended mandates

Christiane DEVILLE

Chairman of the board of directors · since 05 juin 2023 · until 29 juin 2029

Ended

Jean-Marie DELHAYE

Director · since 05 juin 2023 · until 04 juin 2029

Ended

Michel DELHAYE

Managing director · since 05 juin 2023 · until 29 juin 2029

Ended

Christiane DEVILLE

Chairman of the board of directors · since 06 juin 2017 · until 05 juin 2023

Ended

At this address

Other companies at this address

Company	CBE no.
Boulangerie DELHAYE● Active	0423.343.038
DELHAYE INVEST● Active	0747.600.279
MARDEL● Active	0747.600.477

Annual accounts

Full financial information

	2024	2023	2022	2021	2020	2019
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020	01/01/2019
Closing of the financial year	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020	31/12/2019
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	27/08/2025	29/08/2024	10/10/2023	30/08/2022	30/08/2021	21/09/2020
General meeting	27/06/2025	28/06/2024	05/06/2023	07/06/2022	07/06/2021	01/06/2020
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

19 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2024	27/06/2025	27/08/2025	French	PDF
Abridged model	31/12/2023	28/06/2024	29/08/2024	French	PDF
Abridged model	31/12/2022	05/06/2023	10/10/2023	French	PDF
Abridged model	31/12/2021	07/06/2022	30/08/2022	French	PDF
Abridged model	31/12/2020	07/06/2021	30/08/2021	French	PDF
Abridged model	31/12/2019	01/06/2020	21/09/2020	French	PDF
Abridged model	31/12/2018	03/06/2019	30/08/2019	French	PDF
Abridged model	31/12/2017	04/06/2018	31/08/2018	French	PDF
Micro model	31/12/2016	06/06/2017	31/08/2017	French	PDF
Abridged model	31/12/2015	06/06/2016	30/08/2016	French	PDF
Abridged model	31/12/2014	01/06/2015	18/08/2015	French	PDF
Abridged model	31/12/2013	02/06/2014	29/08/2014	French	PDF
Abridged model	31/12/2012	03/06/2013	30/08/2013	French	PDF
Abridged model	31/12/2011	04/06/2012	03/08/2012	French	PDF
Abridged model	31/12/2010	06/06/2011	26/08/2011	French	PDF
Abridged model	31/12/2009	07/06/2010	27/07/2010	French	PDF
Abridged model	31/12/2008	01/06/2009	14/07/2009	French	PDF
Abridged model	31/12/2007	02/06/2008	24/07/2008	French	PDF
Abridged model	31/12/2006	04/06/2007	31/08/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 2,5 M€ and 5 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2024 · 2 active · 18 ended

Active mandates

Christiane DEVILLE

Chairman of the board of directors · since 05 juin 2023 · until 04 juin 2029

Active

Michel DELHAYE

Managing director · since 05 juin 2023 · until 04 juin 2029

Active

Ended mandates

Christiane DEVILLE

Chairman of the board of directors · since 05 juin 2023 · until 29 juin 2029

Ended

Jean-Marie DELHAYE

Director · since 05 juin 2023 · until 04 juin 2029

Ended

Michel DELHAYE

Managing director · since 05 juin 2023 · until 29 juin 2029

Ended

Christiane DEVILLE

Chairman of the board of directors · since 06 juin 2017 · until 05 juin 2023

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Other11/12/2023
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates23/11/2023
DEMISSIONS, NOMINATIONS
PDF
Registered office25/03/2021
SIEGE SOCIAL
PDF
Mandates23/03/2020
DEMISSIONS, NOMINATIONS
PDF
Capital / shares30/07/2018
CAPITAL, ACTIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Other21/09/2017
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates13/07/2017
DEMISSIONS, NOMINATIONS
PDF
Capital / shares10/04/2014
CAPITAL, ACTIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2024
Annual accounts 2024161,4 k €↑
2023
Annual accounts 202362,9 k €↓
2022
Annual accounts 2022185,4 k €↑
2021
Annual accounts 2021-93,5 k €↓
2020
Annual accounts 20203,9 M €↑
2019
Annual accounts 2019354,9 k €↓
2018
Annual accounts 2018396,6 k €↓
2017
Annual accounts 2017487,2 k €↑
2016
Annual accounts 2016320,1 k €↓
2015
Annual accounts 2015331,6 k €↓
2014
Annual accounts 2014339,1 k €↓
2013
Annual accounts 2013357,3 k €↑
2012
Annual accounts 2012-53,1 k €↓
2011
Annual accounts 2011432,1 k €↑
2010
Annual accounts 2010416,7 k €↓
2009
Annual accounts 2009699,4 k €↑
2008
Annual accounts 2008449,1 k €↑
2007
Annual accounts 2007386,1 k €↓
2006
Annual accounts 2006514,1 k €
31/12/1992
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

M.D. GESTION

Overview

What does M.D. GESTION do?

Trend over 19 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline