ACTIVE

MSD

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Financial year 2025 · closed on 30/06/2025
Net result
8,4 k €
+88.7% YoY
Gross margin
9,6 k €
+75.9% YoY
Equity
50,2 k €
+20.0% YoY
Workforce
0,0 ETP

What does MSD do?

MSD is a Public limited company incorporated in 2020. Its main activity is: Agents involved in the sale of a variety of goods. Its registered office is in Tielt.

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0746.993.238
Incorporation
18/05/2020
Legal form
Public limited company
Registered office
Sterrestraat 90B
8700 Tielt · FlandreSee on map
Contributed capital
62 000,00 €
Latest accounts
30/06/2025
Average workforce
0,0 ETP
Activities (NACE)
46190Agents involved in the sale of a variety of goods· main46190Agents involved in the sale of a variety of goods46471Wholesale of furniture, carpets and lighting equipment46471Wholesale of furniture, carpets and lighting equipment46742Wholesale of hardware, plumbing and heating equipment and supplies46842Wholesale trade, except of motor vehicles and motorcycles+6
Joint committees (1)
  • 200
Signals
ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA
View the BCE/KBO Public Search record →
Health score
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✦ Verdict · Analyst summary
Financials

Trend over 5 financial years

20252024202320222021
Income statement
Gross margin9,6 k €5,4 k €31,4 k €-13,4 k €-9,2 k €
EBITDA8,9 k €4,9 k €32,1 k €-14 k €-40,5 k €
Operating result8,7 k €4,7 k €31,8 k €-14,2 k €-42,3 k €
Net result8,4 k €4,4 k €31,7 k €-14,1 k €-42,2 k €
Balance sheet
Equity50,2 k €41,8 k €37,4 k €5,7 k €19,8 k €
Total assets92,5 k €84,1 k €79,9 k €62,3 k €50,4 k €
Cash1,9 k €216,6 €1,4 k €18,8 k €1,9 k €
Debts42,3 k €42,3 k €42,5 k €56,6 k €30,5 k €
Other
Workforce0,0 ETP0,0 ETP0,0 ETP–0,4 ETP
Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€
See the valuation
Governance

Board of directors

Seen on filing of 30/06/2025 · 3 active · 6 ended

Active mandates

Heidi De Vlieger

Director · since 14 mai 2020 · until 14 mai 2026

Active
LDL GROUP HOLDING

Director · since 14 mai 2020 · until 14 mai 2026 · 0682.868.320

Represented by Stuyven JOHAN

Active
Philippe De Wulf

Director · since 14 mai 2020 · until 14 mai 2026

Active

Ended mandates

Arne Rothbart

Director · since 14 mai 2020 · until 20 septembre 2021

Ended
Heidi De Vlieger

Director · since 14 mai 2020

Ended
LDL GROUP HOLDING

Director · since 14 mai 2020 · 0682.868.320

Represented by Johan Stuyven

Ended
LDL GROUP HOLDING

Managing director · since 14 mai 2020 · until 14 mai 2026 · 0682.868.320

Represented by Stuyven JOHAN

Ended
At this address

Other companies at this address

CompanyCBE no.
ADL Holding● Active
0744.914.864
ARDA Technics● Active
0819.522.811
Benelux Laundry Solutions● Active
0782.300.248
Hotel & Leisure Management● Active
1009.586.094
Jade Rent● Active
0730.787.706
LAMBERT, DRY CLEANING AND LAUNDRY EQUIPMENT● Active
0476.692.642
LAVOIR DU PARUCK● Active
0436.672.224
TRANSBELGIUM● Active
0895.296.043
Annual accounts

Full financial information

20252024202320222021
Type of accountAbridged modelAbridged modelAbridged modelAbridged modelAbridged model
Start of the financial year01/07/202401/07/202301/07/202201/07/202118/05/2020
Closing of the financial year30/06/202530/06/202430/06/202330/06/202230/06/2021
Length of the financial year12 months12 months12 months12 months14 months
Filing date27/01/202623/12/202416/01/202421/12/202228/01/2022
General meeting10/01/202621/12/202416/12/202317/12/202208/01/2022
Currency of the financial yearEUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls
Ratios

Financial ratios

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Filings

Annual accounts filings

5 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Abridged model30/06/202510/01/202627/01/2026DutchPDF
Abridged model30/06/202421/12/202423/12/2024DutchPDF
Abridged model30/06/202316/12/202316/01/2024DutchPDF
Abridged model30/06/202217/12/202221/12/2022DutchPDF
Abridged model30/06/202108/01/202228/01/2022DutchPDF
Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 k€

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 · 3 active · 6 ended

Active mandates

Heidi De Vlieger

Director · since 14 mai 2020 · until 14 mai 2026

Active
LDL GROUP HOLDING

Director · since 14 mai 2020 · until 14 mai 2026 · 0682.868.320

Represented by Stuyven JOHAN

Active
Philippe De Wulf

Director · since 14 mai 2020 · until 14 mai 2026

Active

Ended mandates

Arne Rothbart

Director · since 14 mai 2020 · until 20 septembre 2021

Ended
Heidi De Vlieger

Director · since 14 mai 2020

Ended
LDL GROUP HOLDING

Director · since 14 mai 2020 · 0682.868.320

Represented by Johan Stuyven

Ended
LDL GROUP HOLDING

Managing director · since 14 mai 2020 · until 14 mai 2026 · 0682.868.320

Represented by Stuyven JOHAN

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Mandates01/04/2026
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Capital / shares23/02/2026
    KAPITAAL - AANDELEN
    PDF
  • Registered office30/12/2025
    MAATSCHAPPELIJKE ZETEL
    PDF
  • Mandates26/10/2021
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Other20/05/2020
    RUBRIEK OPRICHTING (NIEUWE RECHTSPERSOON, OPENING BIJKANTOOR, ENZ...)
    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

Timeline

  1. 2025
    Annual accounts 20258,4 k €↑
  2. 2024
    Annual accounts 20244,4 k €↓
  3. 2023
    Annual accounts 202331,7 k €↑
  4. 2022
    Annual accounts 2022-14,1 k €↑
  5. 2021
    Annual accounts 2021-42,2 k €
  6. 18/05/2020
    IncorporationPublic limited company