Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Tight liquidity NBB
Cash and receivables cover 33 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
M.G.D. from Pepinster, company number BE0458110709, closed financial year 2025 with a result of € 421,930 after tax. For that financial year M.G.D. recorded a gross margin of € 1.5 million and equity of € 2.2 million. Compared with financial year 2024, the result moved from € -58,309 to € 421,930. Profitable, and profit is growing. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on May 19, 2026.
€ 2.2 million
▲ 24% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 421,930
▲ still € 58,309 loss in 2024
Profit after tax over the fiscal year.
€ 269,285
▲ 105% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € 2 million.
People and assets in 2025
20.9
▲ 3.7 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 623,452
▲ 20% vs 2024
€ 29,800 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 737,297
▼ 13% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 1.6 million
▼ 12% vs 2024
€ 248,808 is repaid this year. At this pace the long-term loan is gone in ≈ 6 years.
€ 1.1 million
▼ 32% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 166,858
▲ 98% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 836,899 | € 1,581,284 | € 921,065 | € 1,531,243 | ▲ 66% |
| Profit after taxes | € 40,344 | € 701,418 | € -58,309 | € 421,930 | ▲ € 480,239 |
| Equity | € 1,132,383 | € 1,833,801 | € 1,775,492 | € 2,197,422 | ▲ 24% |
| Total debts | € 2,856,189 | € 3,580,138 | € 3,750,856 | € 3,043,583 | ▼ 19% |
| Cash | € 257,655 | € 344,952 | € 131,154 | € 269,285 | ▲ 105% |
| Land & buildings | € 1,694,681 | € 2,359,466 | € 3,240,670 | € 3,146,949 | ▼ 3% |
| Retained profit | € 960,610 | € 1,662,027 | € 1,603,718 | € 2,025,649 | ▲ 26% |
| Dividend | € 50,000 | € 0 | € 0 | € 0 | |
| Bank debt | € 1,741,493 | € 2,323,623 | € 1,874,899 | € 1,645,489 | ▼ 12% |
| Balance sheet total | € 3,992,086 | € 5,413,938 | € 5,526,348 | € 5,241,005 | ▼ 5% |
| Employees (FTE) | 18.6 | 17.5 | 17.2 | 20.9 | ▲ 3.7 |
Key figures of M.G.D., fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to M.G.D.?
What happened at M.G.D. in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- CASTLESPIRIT SRL stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 421,930. Source: NBB ↗
- Anne DOUTREPONT stepped down as director. NBB
- Georges DOUTREPONT stepped down as director. NBB
- S.H.A.D. MANAGEMENT SRL stepped down as director. NBB
- S.H.A.D. MANAGEMENT SRL became a director. NBB
- Anne DOUTREPONT became a director. NBB
- Georges DOUTREPONT became a director. NBB
In short
From € 40,344 profit in 2022 to € 421,930 profit in 2025.
Paid € 93,928 in corporate taxes since 2022.
Best year ever: 2023, with € 701,418 profit.
On average € 73,300 of value added per employee in 2025.
Management
It owns 49% of LOFTSPIRIT itself.
Directors
According to the 2025 annual accounts
since 2022 · until 2024
since 2019 · until 2024
since 2019 · until 2024
Managing director · represented by Georges DOUTREPONT
since 2019 · until 2030
Establishments
Establishment units
Physical locations of this company
Rue Hodister 183
4860 Pepinster
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0458.110.709
- VAT number
- BE 0458.110.709
- Registered office
- Rue Hodister 183, 4860 Pepinster
- Names & denominations
- M.G.D.
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 31 May 1996
- Peppol
- Active · Active since 17 Feb 2026
- Activities · NACE
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