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 43 % of short-term debt in 2025; threshold 65 %.
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Board fully replaced NBB
No director from three years ago is still active according to annual account 2025.
Financials
Financial year 2025
MDL ASSOCIATES from Elsene, company number BE0651988666, closed financial year 2025 with a result of € -5,320 after tax. For that financial year MDL ASSOCIATES recorded a gross margin of € 236,720 and equity of € 38,196. Compared with financial year 2024, the result moved from € 59,397 to € -5,320. The company made a loss. The company holds a healthy buffer. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on July 31, 2026.
€ 38,196
▼ 12% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -5,320
▼ still € 59,397 profit in 2024
Profit after tax over the fiscal year.
€ 8,581
▼ 90% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € 29,596.
People and assets in 2025
≈ 1
No payroll staff. One director, so that person most likely runs the business.
€ 205,729
Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 13,768
▼ 23% vs 2024
Of which on lease € 9,256.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 9,542
▼ 58% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 42,197
▼ 34% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 146,839 | € 268,807 | € 308,969 | € 236,720 | ▼ 23% |
| Profit after taxes | € -9,690 | € 31,598 | € 59,397 | € -5,320 | ▼ € 64,717 |
| Equity | € 12,521 | € 34,119 | € 43,516 | € 38,196 | ▼ 12% |
| Total debts | € 147,533 | € 104,569 | € 142,151 | € 51,923 | ▼ 63% |
| Cash | € 48,016 | € 45,294 | € 84,617 | € 8,581 | ▼ 90% |
| Retained profit | € -6,079 | € 25,519 | € 34,916 | € 29,596 | ▼ 15% |
| Dividend | € 0 | € 0 | € 50,000 | € 0 | ▼ 100% |
| Bank debt | € 92,068 | € 45,523 | € 5,293 | € 0 | ▼ 100% |
| Balance sheet total | € 160,054 | € 138,688 | € 185,667 | € 90,119 | ▼ 51% |
Key figures of MDL ASSOCIATES, 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 MDL ASSOCIATES?
What happened at MDL ASSOCIATES in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 5,320 (▼ € 64,717 vs 2024). Source: NBB ↗
- Jonathan De Cuyper became a director. NBB
- Sarah Dang stepped down as director. NBB
- Michael Barbicas Cordeiro stepped down as director. NBB
- Sarah Dang became a director. NBB
- New establishment in Elsene. KBO
- Michael Barbicas Cordeiro became a director. NBB
- Start of the company according to the CBE. KBO
In short
From € 9,690 loss in 2022 to € 5,320 loss in 2025.
Paid € 54,250 in corporate taxes since 2022.
Best year ever: 2024, with € 59,397 profit.
Paid out € 50,000 in dividends to the owners in total.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
Behind MDL ASSOCIATES is Jonathan De Cuyper.
Directors
According to the 2025 annual accounts
Jonathan De Cuyper
Director
since 2026
Sarah Dang
Director
since 2022 · until 2026
Michael Barbicas Cordeiro
Director
since 2016 · until 2026
Establishments
Establishment units
Physical locations of this company
de Vergniesstraat 42
1050 Elsene
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 1 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0651.988.666
- VAT number
- BE 0651.988.666
- Registered office
- de Vergniesstraat 42, 1050 Elsene
- Names & denominations
- MDL ASSOCIATES
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 18 April 2016
- Peppol
- Active · Active since 29 Jan 2026
- Activities · NACE
Activiteiten van eetgelegenheden met beperkte bediening, muv mobiele eetgelegenheden
Eetgelegenheden met beperkte bediening
Cafés en bars