ACTIVE

MDHF

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Financial year 2025 · closed on 30/06/2025

Net result

-15,5 M €

-1315.8% YoY

Gross margin

-62,7 k €

+87.4% YoY

Equity

185,6 M €

-7.7% YoY

Workforce

2,6 ETP

+73.3% YoY

What does MDHF do?

MDHF is a Public limited company incorporated in 2012. Its main activity is: Activities of holding companies. Its registered office is in Lasne. It employs on average 2,6 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0508.816.270

Incorporation

28/12/2012

Legal form

Public limited company

Registered office

Chaussée de Louvain 533
1380 Lasne · WallonieSee on map

Contributed capital

196 000 000,00 €

Latest accounts

30/06/2025

Average workforce

2,6 ETP

Activities (NACE)

64200Activities of holding companies· main 64210Activities of holding companies

Joint committees (1)

Signals

Solid equityLow riskGood liquidity

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 11 financial years

	2025		2024		2023		2022		2019		2018		2017		2016		2015		2014		2013
Income statement
Gross margin	-62,7 k €	+87.4%	-496,7 k €	+11.7%	-562,6 k €	+4.7%	-590,3 k €		–		–		–		–		-268,3 k €	-334%	-61,8 k €	-4170%	-1,4 k €
EBITDA	-15,7 M €	-1214%	-1,2 M €	-53.8%	-778,1 k €	-1.8%	-764,1 k €	+46.9%	-1,4 M €	-12.7%	-1,3 M €	-68.2%	-759,5 k €	-50.1%	-505,9 k €	-69.3%	-298,7 k €	-380%	-62,2 k €	-2780%	-2,2 k €
Operating result	-15,7 M €	-1194%	-1,2 M €	-52.2%	-799,6 k €	-2.1%	-782,9 k €	+45.7%	-1,4 M €	-12.6%	-1,3 M €	-65.3%	-774,2 k €	-48.7%	-520,5 k €	-70.4%	-305,6 k €	-391%	-62,2 k €	-91.7%	-32,5 k €
Net result	-15,5 M €	-1316%	-1,1 M €	-65.4%	-662,7 k €	+99.1%	-74,2 M €	-158%	-28,8 M €	-173%	39,5 M €	+188%	13,7 M €	-27.5%	18,9 M €	-27.7%	26,1 M €	+2284%	-1,2 M €	-3584%	-32,5 k €
Balance sheet
Equity	185,6 M €	-7.7%	201,1 M €	-0.5%	202,2 M €	-0.3%	202,8 M €	-23.2%	264,2 M €	-9.8%	293 M €	+15.6%	253,5 M €	+5.7%	239,8 M €	+8.6%	220,9 M €	+13.4%	194,8 M €	-0.6%	196 M €
Total assets	185,7 M €	-7.7%	201,1 M €	-0.6%	202,3 M €	-0.4%	203,1 M €	-23.5%	265,5 M €	-10.4%	296,2 M €	+4.2%	284,4 M €	+4.3%	272,7 M €	-3.8%	283,5 M €	+14.6%	247,5 M €	+0.3%	246,7 M €
Cash	1,7 M €	+11376%	15 k €	+74.5%	8,6 k €	-11.4%	9,7 k €	-55.8%	22 k €	+783%	2,5 k €	-28.1%	3,5 k €	-89.9%	34,4 k €	-83.4%	207,1 k €	+131537%	157,3 €		–
Debts	136,7 k €	+112%	64,6 k €	-43.7%	114,8 k €	-31.7%	168 k €	-86.2%	1,2 M €	-58.6%	3 M €	-90.4%	30,8 M €	-6.5%	32,9 M €	-47.2%	62,3 M €	+19.6%	52,1 M €	+2.6%	50,7 M €
Other
Workforce	2,6 ETP	+73.3%	1,5 ETP	-31.8%	2,2 ETP	+46.7%	1,5 ETP	-40.0%	2,5 ETP	-30.6%	3,6 ETP	+80.0%	2,0 ETP	+122%	0,9 ETP	+200%	0,3 ETP		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 100 M€ and 250 M€

See the valuation

Governance

Board of directors

Seen on filing of 30/06/2025 · 2 active · 7 ended

Active mandates

Michel Doret

Managing director · since 24 novembre 2023 · until 23 novembre 2029

Active

Pascaline Loumaye

Director · since 30 novembre 2022 · until 24 novembre 2028

Active

Ended mandates

Pascaline Loumaye

Director · since 13 septembre 2017 · until 25 novembre 2022

Ended

Boris Vilain

Director · since 22 juin 2017 · until 12 septembre 2019

Ended

Boris VILAIN

Director · since 22 juin 2017 · until 24 novembre 2023

Ended

Michel Doret

Managing director · since 22 juin 2017 · until 24 novembre 2023

Ended

At this address

Other companies at this address

Company	CBE no.
BOB BRUSSELS● Active	1008.840.481
Customer Environment Patrimonium - Properties● Active	0435.588.396
DTHF● Active	0454.910.697
DVR WATCHES● Active	1003.706.807
IMMO GRAND SABLE● Active	0420.841.626

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Full model
Start of the financial year	01/07/2024	01/07/2023	01/07/2022	01/07/2021	01/07/2020	01/07/2019
Closing of the financial year	30/06/2025	30/06/2024	30/06/2023	30/06/2022	30/06/2021	30/06/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	03/12/2025	27/11/2024	28/11/2023	02/12/2022	03/12/2021	30/11/2020
General meeting	27/11/2025	22/11/2024	24/11/2023	30/11/2022	30/11/2021	27/11/2020
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

13 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	30/06/2025	27/11/2025	03/12/2025	French	PDF
Abridged model	30/06/2024	22/11/2024	27/11/2024	French	PDF
Abridged model	30/06/2023	24/11/2023	28/11/2023	French	PDF
Abridged model	30/06/2022	30/11/2022	02/12/2022	French	PDF
Abridged model	30/06/2021	30/11/2021	03/12/2021	French	PDF
Full model	30/06/2020	27/11/2020	30/11/2020	French	PDF
Full model	30/06/2019	22/11/2019	28/11/2019	French	PDF
Full model	30/06/2018	14/12/2018	19/12/2018	French	PDF
Full model	30/06/2017	15/12/2017	21/12/2017	French	PDF
Full model	30/06/2016	25/11/2016	01/12/2016	French	PDF
Abridged model	30/06/2015	20/01/2016	21/01/2016	French	PDF
Abridged model	30/06/2014	28/11/2014	16/12/2014	French	PDF
Abridged model	30/06/2013	22/11/2013	22/01/2014	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 M€ and 250 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 30/06/2025 · 2 active · 7 ended

Active mandates

Michel Doret

Managing director · since 24 novembre 2023 · until 23 novembre 2029

Active

Pascaline Loumaye

Director · since 30 novembre 2022 · until 24 novembre 2028

Active

Ended mandates

Pascaline Loumaye

Director · since 13 septembre 2017 · until 25 novembre 2022

Ended

Boris Vilain

Director · since 22 juin 2017 · until 12 septembre 2019

Ended

Boris VILAIN

Director · since 22 juin 2017 · until 24 novembre 2023

Ended

Michel Doret

Managing director · since 22 juin 2017 · until 24 novembre 2023

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates07/01/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates14/12/2023
DEMISSIONS, NOMINATIONS
PDF
Mandates03/01/2023
DEMISSIONS, NOMINATIONS
PDF
Mandates20/12/2021
DEMISSIONS, NOMINATIONS
PDF
Other14/12/2020
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates06/01/2020
DEMISSIONS, NOMINATIONS
PDF
Mandates09/01/2019
SIEGE SOCIAL - DEMISSIONS, NOMINATIONS
PDF
Mandates26/10/2017
DEMISSIONS, NOMINATIONS
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

2025
Annual accounts 2025-15,5 M €↓
22/11/2024
reconductionForvis Mazars Réviseurs d'Entreprises — commissaire
2024
Annual accounts 2024-1,1 M €↓
24/11/2023
reconductionMichel Doret — administrateur
2023
Annual accounts 2023-662,7 k €↑
30/11/2022
reconductionPascaline Loumaye — administrateur
2022
Annual accounts 2022-74,2 M €↓
2019
Annual accounts 2019-28,8 M €↓
2018
Annual accounts 201839,5 M €↑
2017
Annual accounts 201713,7 M €↓
2016
Annual accounts 201618,9 M €↓
2015
Annual accounts 201526,1 M €↑
2014
Annual accounts 2014-1,2 M €↓
2013
Annual accounts 2013-32,5 k €
28/12/2012
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

MDHF

Overview

What does MDHF do?

Trend over 11 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