ACTIVE

MD & B

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Financial year 2025 · closed on 31/12/2025

Net result

843,6 k €

+51.4% YoY

Gross margin

2,9 M €

+22.7% YoY

Equity

4,6 M €

+9.7% YoY

Workforce

26,1 ETP

-1.9% YoY

What does MD & B do?

MD & B is a Private limited company incorporated in 2005. Its main activity is: Retail sale in non-specialised stores with food, beverages or tobacco predominating. Its registered office is in Zemst. It employs on average 26,1 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0875.277.025

Incorporation

27/07/2005

Legal form

Private limited company

Registered office

Rubenslaan 1
1982 Zemst · FlandreSee on map

Contributed capital

67 867,00 €

Latest accounts

31/12/2025

Average workforce

26,1 ETP

Activities (NACE)

47110Retail sale in non-specialised stores with food, beverages or tobacco predominating· main 47114Retail sale in non-specialised stores with food, beverages or tobacco predominating 52114Warehousing and storage

Joint committees (4)

1190
201
202
20201

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	2,9 M €	+22.7%	2,3 M €	-5.6%	2,5 M €	+2.4%	2,4 M €	-1.9%	2,5 M €	-2.3%	2,5 M €	+36.4%	1,8 M €	+5.7%	1,7 M €	+38.3%	1,3 M €	+75.5%	716,9 k €	-8.1%	780,3 k €	-3.7%	810,5 k €	+4.9%	772,5 k €	-9.0%	849,2 k €	-0.2%	850,6 k €	-14.0%	988,8 k €	+19.4%	828 k €	+28.0%	647 k €	+19.2%	542,6 k €	-1.5%	551 k €
EBITDA	1,7 M €	+44.3%	1,2 M €	-13.6%	1,4 M €	+6.3%	1,3 M €	-12.8%	1,5 M €	-8.0%	1,6 M €	+55.8%	1 M €	+2.1%	1 M €	+49.7%	676,6 k €	+287%	174,7 k €	-23.2%	227,5 k €	-21.0%	287,9 k €	+17.0%	246,1 k €	-21.4%	313,3 k €	-7.2%	337,7 k €	-30.8%	487,9 k €	+23.7%	394,3 k €	+45.3%	271,4 k €	+22.4%	221,7 k €	+16.6%	190,2 k €
Operating result	1,2 M €	+61.3%	765,6 k €	-27.4%	1,1 M €	+10.0%	959,6 k €	-18.1%	1,2 M €	-10.7%	1,3 M €	+86.4%	703,3 k €	-5.8%	746,7 k €	+68.2%	444 k €	+610%	62,6 k €	-44.0%	111,8 k €	-27.1%	153,2 k €	+15.3%	132,8 k €	-36.3%	208,5 k €	-8.7%	228,3 k €	-39.8%	379,1 k €	+35.0%	280,7 k €	+76.2%	159,3 k €	+34.1%	118,8 k €	+16.4%	102 k €
Net result	843,6 k €	+51.4%	557,2 k €	-27.4%	767,4 k €	+12.3%	683,4 k €	-13.1%	786,3 k €	-8.7%	861,5 k €	+96.5%	438,4 k €	-2.6%	450 k €	+51.5%	297,1 k €	+5294%	5,5 k €	-89.0%	50 k €	-54.2%	109 k €	+2.5%	106,3 k €	-21.4%	135,2 k €	-6.8%	145,1 k €	-39.4%	239,5 k €	+36.5%	175,5 k €	+81.1%	96,9 k €	+35.5%	71,5 k €	+4.8%	68,3 k €
Balance sheet
Equity	4,6 M €	+9.7%	4,2 M €	-5.6%	4,4 M €	+21.0%	3,6 M €	+23.0%	3 M €	+22.8%	2,4 M €	+55.5%	1,6 M €	+4.8%	1,5 M €	+43.6%	1 M €	+40.4%	734,6 k €	+0.8%	729,1 k €	+7.4%	679,2 k €	+13.2%	600,2 k €	+10.6%	542,7 k €	+33.2%	407,5 k €	-36.1%	637,4 k €	+28.0%	497,9 k €	+45.8%	341,4 k €	+29.6%	263,5 k €	+24.9%	210,9 k €
Total assets	7,7 M €	-5.9%	8,2 M €	+36.1%	6 M €	+9.4%	5,5 M €	+1.7%	5,4 M €	+11.1%	4,9 M €	+16.9%	4,2 M €	-6.7%	4,4 M €	+5.0%	4,2 M €	+3.8%	4,1 M €	+200%	1,4 M €	+23.0%	1,1 M €	+5.5%	1 M €	+0.9%	1 M €	+2.1%	1 M €	-30.9%	1,5 M €	+9.6%	1,3 M €	+10.8%	1,2 M €	+6.0%	1,1 M €	+2.1%	1,1 M €
Cash	1,9 M €	+124%	847,8 k €	+20.8%	702 k €	-49.2%	1,4 M €	-20.6%	1,7 M €	+6.3%	1,6 M €	+117%	754,8 k €	-30.8%	1,1 M €	+25.4%	869,4 k €	+73.7%	500,6 k €	-23.5%	654,1 k €	+37.8%	474,6 k €	+489%	80,6 k €	-64.6%	227,6 k €	+450%	41,3 k €	-75.1%	165,9 k €	-60.8%	423,2 k €	+356%	92,9 k €	-61.9%	243,6 k €	+11.4%	218,6 k €
Debts	3,1 M €	-22.3%	4 M €	+153%	1,6 M €	-13.9%	1,8 M €	-24.5%	2,4 M €	-0.5%	2,4 M €	-6.2%	2,6 M €	-12.4%	3 M €	-7.4%	3,2 M €	-4.2%	3,3 M €	+431%	629,6 k €	+48.0%	425,5 k €	-4.5%	445,7 k €	-9.6%	493,1 k €	-18.6%	605,5 k €	-27.2%	831,6 k €	-1.3%	842,5 k €	-3.0%	868,7 k €	-1.1%	877,9 k €	-3.2%	907,3 k €
Other
Workforce	26,1 ETP	-1.9%	26,6 ETP	-5.7%	28,2 ETP	-1.7%	28,7 ETP	+6.3%	27,0 ETP	0.0%	27,0 ETP	+13.4%	23,8 ETP	+6.3%	22,4 ETP	+25.8%	17,8 ETP	+2.3%	17,4 ETP	-1.7%	17,7 ETP	+9.3%	16,2 ETP	-3.6%	16,8 ETP	+3.7%	16,2 ETP	-4.1%	16,9 ETP	-3.4%	17,5 ETP	+18.2%	14,8 ETP	-0.7%	14,9 ETP	+22.1%	12,2 ETP	-7.6%	13,2 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 5 M€ and 10 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 9 ended

Active mandates

Steven Stouten

Director · since 31 mars 2026

Active

Tim Anthonis

Wettelijke vertegenwoordiger · since 31 mars 2026

Active

ZIBO

Director · since 31 mars 2026 · 0472.126.219

Represented by Tim Anthonis

Active

Ended mandates

Daisy Alleman

Manager · since 31 mars 2010

Ended

Barthold Moriau

Manager · since 25 juillet 2005

Ended

Diederik Moriau

Manager · since 25 juillet 2005

Ended

Barthold Moriau

Manager · until 01 janvier 2010

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	28/08/2026	28/08/2025	27/09/2024	28/09/2023	31/08/2022	31/08/2021
General meeting	16/06/2026	17/06/2025	18/06/2024	20/06/2023	21/06/2022	15/06/2021
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

22 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	16/06/2026	28/08/2026	Dutch	PDF
Abridged model	31/12/2024	17/06/2025	28/08/2025	Dutch	PDF
Abridged model	31/12/2023	18/06/2024	27/09/2024	Dutch	PDF
Abridged model	31/12/2022	20/06/2023	28/09/2023	Dutch	PDF
Abridged model	31/12/2021	21/06/2022	31/08/2022	Dutch	PDF
Abridged model	31/12/2020	15/06/2021	31/08/2021	Dutch	PDF
Abridged model	31/12/2019	16/06/2020	25/09/2020	Dutch	PDF
Abridged model	31/12/2018	18/06/2019	08/10/2019	Dutch	PDF
Abridged modelCorrection	31/12/2017	19/06/2018	26/09/2018	Dutch	PDF
Abridged model	31/12/2017	19/06/2018	31/07/2018	Dutch	PDF
Abridged model	31/12/2016	20/06/2017	29/09/2017	Dutch	PDF
Abridged model	31/12/2015	21/06/2016	27/09/2016	Dutch	PDF
Abridged model	31/12/2014	16/06/2015	28/08/2015	Dutch	PDF
Abridged model	31/12/2013	17/06/2014	31/07/2014	Dutch	PDF
Abridged modelCorrection	31/12/2012	18/06/2013	27/09/2013	Dutch	PDF
Abridged model	31/12/2012	18/06/2013	30/08/2013	Dutch	PDF
Abridged model	31/12/2011	19/06/2012	30/08/2012	Dutch	PDF
Abridged model	31/12/2010	21/06/2011	16/08/2011	Dutch	PDF
Abridged model	31/12/2009	15/06/2010	26/08/2010	Dutch	PDF
Abridged model	31/12/2008	16/06/2009	18/08/2009	Dutch	PDF
Abridged model	31/12/2007	17/06/2008	26/08/2008	Dutch	PDF
Abridged model	31/12/2006	19/06/2007	27/08/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 5 M€ and 10 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 31/12/2025 · 3 active · 9 ended

Active mandates

Steven Stouten

Director · since 31 mars 2026

Active

Tim Anthonis

Wettelijke vertegenwoordiger · since 31 mars 2026

Active

ZIBO

Director · since 31 mars 2026 · 0472.126.219

Represented by Tim Anthonis

Active

Ended mandates

Daisy Alleman

Manager · since 31 mars 2010

Ended

Barthold Moriau

Manager · since 25 juillet 2005

Ended

Diederik Moriau

Manager · since 25 juillet 2005

Ended

Barthold Moriau

Manager · until 01 janvier 2010

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates09/04/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates28/02/2022
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN
PDF
Restructuring07/07/2011
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring06/01/2011
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...) - DIVERSEN
PDF
Mandates28/04/2010
ONTSLAGEN - BENOEMINGEN
PDF
Mandates29/01/2010
ONTSLAGEN - BENOEMINGEN
PDF
Other04/08/2005
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

2025
Annual accounts 2025843,6 k €↑
2024
Annual accounts 2024557,2 k €↓
2023
Annual accounts 2023767,4 k €↑
2022
Annual accounts 2022683,4 k €↓
2021
Annual accounts 2021786,3 k €↓
2020
Annual accounts 2020861,5 k €↑
2019
Annual accounts 2019438,4 k €↓
2018
Annual accounts 2018450 k €↑
2017
Annual accounts 2017297,1 k €↑
2016
Annual accounts 20165,5 k €↓
2015
Annual accounts 201550 k €↓
2014
Annual accounts 2014109 k €↑
2013
Annual accounts 2013106,3 k €↓
2012
Annual accounts 2012135,2 k €↓
2011
Annual accounts 2011145,1 k €↓
2010
Annual accounts 2010239,5 k €↑
2009
Annual accounts 2009175,5 k €↑
2008
Annual accounts 200896,9 k €↑
2007
Annual accounts 200771,5 k €↑
2006
Annual accounts 200668,3 k €
27/07/2005
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

MD & B

Overview

What does MD & B do?

Trend over 20 financial years

Indicative valuation

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

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