NORMAL SITUATION

M.M.D

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Financial year 2025 · closed on 31/12/2025

Net result

-131,2 k €

-141.8% YoY

Gross margin

584,8 k €

+8.9% YoY

Equity

811,1 k €

-13.9% YoY

Company — Normal situation.

Strike-off: 26 août 2026

What does M.M.D do?

M.M.D is a Private limited company incorporated in 2004.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0870.900.345

Incorporation

30/12/2004

Legal form

Private limited company

Contributed capital

7 440,00 €

Latest accounts

31/12/2025

Joint committees (2)

Signals

Solid equityGood liquidityPositive cashflowPositive EBITDA

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2006
Income statement
Gross margin	584,8 k €	+8.9%	536,8 k €	-7.7%	581,7 k €	+36.8%	425,1 k €	+60.2%	265,4 k €	+1198%	-24,2 k €	-106%	395,9 k €	+24.7%	317,6 k €	+62.5%	195,4 k €	+3.0%	189,6 k €	+26.9%	149,4 k €	+58.2%	94,4 k €	-27.4%	130,1 k €	+354%	-51,3 k €	-153%	96 k €	-61.9%	252,3 k €	-24.8%	335,8 k €	-46.8%	630,8 k €	+314%	152,3 k €
EBITDA	570,6 k €	+9.5%	521,2 k €	-8.5%	569,7 k €	+38.1%	412,4 k €	+62.0%	254,6 k €	+742%	-39,7 k €	-110%	380 k €	+25.5%	302,8 k €	+66.4%	182 k €	+4.5%	174,2 k €	+27.4%	136,7 k €	+65.1%	82,8 k €	-30.9%	119,8 k €	+315%	-55,6 k €	-170%	79,7 k €	-67.8%	247,4 k €	-25.5%	332,3 k €	-46.4%	620 k €	+314%	149,9 k €
Operating result	26,3 k €	-94.4%	470,8 k €	-9.5%	520 k €	+42.9%	364 k €	+77.9%	204,6 k €	+328%	-89,7 k €	-127%	330,1 k €	+30.5%	253 k €	+91.4%	132,2 k €	+5.6%	125,2 k €	+43.3%	87,4 k €	+161%	33,5 k €	-52.4%	70,3 k €	+164%	-110,5 k €	-506%	-18,2 k €	-110%	191,4 k €	-38.1%	309 k €	-43.8%	549,5 k €	+326%	129,1 k €
Net result	-131,2 k €	-142%	314 k €	-11.0%	352,8 k €	+44.9%	243,5 k €	+53.1%	159 k €	+235%	-118,1 k €	-158%	202,3 k €	+46.2%	138,4 k €	+82.7%	75,8 k €	-2.4%	77,6 k €	+29.8%	59,8 k €	+338%	13,6 k €	-88.1%	114,8 k €	+187%	-132,2 k €	-1922%	-6,5 k €	-105%	125,8 k €	-40.4%	210,9 k €	-18.6%	259,2 k €	+232%	78,1 k €
Balance sheet
Equity	811,1 k €	-13.9%	942,3 k €	+10.1%	855,7 k €	+38.7%	617 k €	+22.8%	502,4 k €	+37.4%	365,6 k €	-24.6%	485 k €	+25.3%	387,1 k €	+21.3%	319,1 k €	-59.3%	784,3 k €	+10.8%	708,1 k €	+9.0%	649,6 k €	+1.9%	637,4 k €	+10.1%	578,9 k €	-18.7%	712,4 k €	-1.1%	720,3 k €	+20.9%	596 k €	+54.0%	387,1 k €	+279%	102 k €
Total assets	2,4 M €	+17.5%	2 M €	+5.7%	1,9 M €	+5.1%	1,8 M €	+30.7%	1,4 M €	+13.7%	1,2 M €	-25.5%	1,6 M €	+23.3%	1,3 M €	-9.1%	1,5 M €	+3.5%	1,4 M €	-2.1%	1,4 M €	+2.5%	1,4 M €	-27.6%	1,9 M €	+8.2%	1,8 M €	+8.9%	1,6 M €	+16.6%	1,4 M €	+79.6%	784,1 k €	+7.9%	726,8 k €	+14.8%	633,3 k €
Cash	94,9 k €	-90.1%	960,6 k €	+10765%	8,8 k €	-90.2%	90,2 k €	+227%	27,6 k €	-83.8%	170,6 k €	-2.5%	175,1 k €	-23.8%	229,7 k €	-25.7%	309,1 k €	+43.0%	216,2 k €	+8.6%	199 k €	+92.4%	103,4 k €	-79.4%	502 k €	+471%	87,9 k €	-74.9%	350,6 k €	+2.4%	342,4 k €	+8.7%	314,9 k €	-15.5%	372,7 k €		–
Debts	1 M €	-2.2%	1,1 M €	+2.1%	1 M €	-11.7%	1,2 M €	+34.1%	876,1 k €	+3.5%	846,8 k €	-25.8%	1,1 M €	+22.5%	931,8 k €	-17.7%	1,1 M €	+83.0%	618,8 k €	-14.9%	726,8 k €	-3.1%	750,3 k €	-42.2%	1,3 M €	+7.5%	1,2 M €	+30.1%	926,9 k €	+42.4%	650,7 k €	+246%	188,2 k €	-44.5%	338,8 k €	-36.2%	531,3 k €
Other
Workforce	–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		0,2 ETP		–

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 15 ended

Active mandates

MSC Holding

Director · since 01 mars 2019 · 0716.767.246

Represented by Stéphanie MERTENS

Active

PROSAIS

Director · since 24 juin 2016 · 0450.571.433

Represented by Stéphanie MATHY

Active

Ended mandates

G.M.F.

Manager · since 01 mars 2019 · 0450.419.005

Represented by Stéphanie MERTENS

Ended

Céline MERTENS

Manager · since 30 juin 2017 · until 01 mars 2019

Ended

Céline MERTENS

Manager · since 30 juin 2017

Ended

G.M.F.

Manager · since 24 juin 2016 · until 01 mars 2019 · 0450.419.005

Represented by Stéphanie MERTENS

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	24/06/2026	28/08/2025	17/07/2024	07/07/2023	29/06/2022	28/06/2021
General meeting	05/06/2026	06/06/2025	07/06/2024	02/06/2023	24/06/2022	25/06/2021
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	31/12/2025	05/06/2026	24/06/2026	French	PDF
Abridged model	31/12/2024	06/06/2025	28/08/2025	French	PDF
Abridged model	31/12/2023	07/06/2024	17/07/2024	French	PDF
Abridged model	31/12/2022	02/06/2023	07/07/2023	French	PDF
Abridged model	31/12/2021	24/06/2022	29/06/2022	French	PDF
Abridged model	31/12/2020	25/06/2021	28/06/2021	French	PDF
Micro model	31/12/2019	04/09/2020	07/09/2020	French	PDF
Micro model	30/12/2018	28/06/2019	16/07/2019	French	PDF
Micro model	30/12/2017	29/06/2018	11/07/2018	French	PDF
Abridged model	30/12/2016	30/06/2017	14/07/2017	French	PDF
Abridged model	30/12/2015	24/06/2016	01/07/2016	French	PDF
Abridged model	30/12/2014	26/06/2015	01/07/2015	French	PDF
Abridged model	30/12/2013	27/06/2014	29/08/2014	French	PDF
Abridged model	30/12/2012	28/06/2013	01/07/2013	French	PDF
Abridged model	30/12/2011	29/06/2012	03/07/2012	French	PDF
Abridged model	30/12/2010	24/06/2011	20/09/2011	French	PDF
Abridged model	30/12/2009	25/06/2010	04/08/2010	French	PDF
Abridged model	30/12/2008	26/06/2009	18/08/2009	French	PDF
Abridged model	31/12/2006	29/06/2007	28/08/2007	French	PDF

Estimate

Indicative valuation

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 31/12/2025 · 2 active · 15 ended

Active mandates

MSC Holding

Director · since 01 mars 2019 · 0716.767.246

Represented by Stéphanie MERTENS

Active

PROSAIS

Director · since 24 juin 2016 · 0450.571.433

Represented by Stéphanie MATHY

Active

Ended mandates

G.M.F.

Manager · since 01 mars 2019 · 0450.419.005

Represented by Stéphanie MERTENS

Ended

Céline MERTENS

Manager · since 30 juin 2017 · until 01 mars 2019

Ended

Céline MERTENS

Manager · since 30 juin 2017

Ended

G.M.F.

Manager · since 24 juin 2016 · until 01 mars 2019 · 0450.419.005

Represented by Stéphanie MERTENS

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Restructuring01/09/2026
SCISSION PAR VOIE D'ABSORPTION POUR PARTIE PAR LA SOCIETE
PDF
Restructuring26/06/2026
RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Mandates26/04/2023
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE - OBJET - DEMISSIONS, NOMINATIONS
PDF
Mandates10/04/2019
DEMISSIONS, NOMINATIONS
PDF
Capital / shares22/01/2018
CAPITAL, ACTIONS
PDF
Mandates14/07/2017
DEMISSIONS, NOMINATIONS
PDF
Mandates06/07/2016
DEMISSIONS, NOMINATIONS
PDF
Capital / shares28/01/2014
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

2025
Annual accounts 2025-131,2 k €↓
2024
Annual accounts 2024314 k €↓
2023
Annual accounts 2023352,8 k €↑
2022
Annual accounts 2022243,5 k €↑
2021
Annual accounts 2021159 k €↑
2020
Annual accounts 2020-118,1 k €↓
2019
Annual accounts 2019202,3 k €↑
2018
Annual accounts 2018138,4 k €↑
2017
Annual accounts 201775,8 k €↓
2016
Annual accounts 201677,6 k €↑
2015
Annual accounts 201559,8 k €↑
2014
Annual accounts 201413,6 k €↓
2013
Annual accounts 2013114,8 k €↑
2012
Annual accounts 2012-132,2 k €↓
2011
Annual accounts 2011-6,5 k €↓
2010
Annual accounts 2010125,8 k €↓
2009
Annual accounts 2009210,9 k €↓
2008
Annual accounts 2008259,2 k €↑
2006
Annual accounts 200678,1 k €
30/12/2004
IncorporationPrivate 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.M.D

Overview

What does M.M.D do?

Trend over 19 financial years

Board of directors

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