Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Not on Peppol Peppol
Not registered in the Peppol network, mandatory for VAT-liable companies since 1 January 2026.
Financials
Financial year 2025
MSD from Tielt, company number BE0746993238, closed financial year 2025 with a result of € 8,374 after tax. For that financial year MSD recorded a gross margin of € 9,585 and equity of € 50,218. Compared with financial year 2024, the result moved from € 4,437 to € 8,374. 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 January 27, 2026.
€ 50,218
▲ 20% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 8,374
▲ 89% vs 2024
Profit after tax over the fiscal year.
€ 1,861
▲ € 1,644 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 € -11,782.
People and assets in 2025
0
Average over the fiscal year, from the social balance sheet.
€ 1
▼ € 207 vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 1,421
Supplier invoices still open on the last day of the fiscal year.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € -13,378 | € 31,386 | € 5,448 | € 9,585 | ▲ 76% |
| Profit after taxes | € -14,141 | € 31,721 | € 4,437 | € 8,374 | ▲ 89% |
| Equity | € 5,686 | € 37,407 | € 41,844 | € 50,218 | ▲ 20% |
| Total debts | € 56,577 | € 42,484 | € 42,275 | € 42,275 | |
| Cash | € 18,769 | € 1,410 | € 217 | € 1,861 | ▲ € 1,644 |
| Retained profit | € -56,314 | € -24,593 | € -20,156 | € -11,782 | ▲ € 8,374 |
| Balance sheet total | € 62,263 | € 79,891 | € 84,119 | € 92,493 | ▲ 10% |
Key figures of MSD, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 30 January 2027.
What happened to MSD?
What happened at MSD in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- LDL Group Holding NV NV stepped down as director. NBB
- Philippe De Wulf stepped down as director. NBB
- Heidi De Vlieger stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 8,374 (▲ 89% vs 2024). Source: NBB ↗
- New establishment in Tielt. KBO
- Start of the company according to the CBE. KBO
- LDL Group Holding NV NV became a director. NBB
- Philippe De Wulf became a director. NBB
In short
From € 14,141 loss in 2022 to € 8,374 profit in 2025.
Best year ever: 2023, with € 31,721 profit.
A new publication or filing at MSD? We notify you, reason included.
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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
The stake of LDL GROUP HOLDING comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
MSDThe shares are held by LDL GROUP HOLDING (67.5%).
Directors
According to the 2025 annual accounts
Director · represented by Stuyven JOHAN
Also active at: UNIBEL TECH, JADE, LAMBERT, DRY CLEANING AND LAUNDRY EQUIPMENT, LDL Rent, LAUNDRY RENTAL SOLUTIONS, The Laundry Market, safety services, LOFT-WASH +8 more
since 2020 · until 2026
Philippe De Wulf
Director
since 2020 · until 2026
Heidi De Vlieger
Director
since 2020 · until 2026
Shareholders
67.5%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Sterrestraat 90B
8700 Tielt
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 8 companies are registered at this address.
All companies at this address →LAVOIR DU PARUCK
€ 576,592 gross margin · 2025
LAMBERT, DRY CLEANING AND LAUNDRY EQUIPMENT same network
€ 22.9 million revenue · 2025
Jade Rent same network
€ 1.7 million gross margin · 2025
ADL Holding same network
€ 56,652 gross margin · 2025
Benelux Laundry Solutions same network
€ -2,386 gross margin · 2025
+3 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0746.993.238
- VAT number
- BE 0746.993.238
- Registered office
- Sterrestraat 90B, 8700 Tielt
- Names & denominations
- MSD
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 18 May 2020
- Peppol
- Not registered
- Activities · NACE
Handelsbemiddeling in de niet-gespecialiseerde groothandel
Groothandel in installatiemateriaal voor loodgieterswerk en verwarming
Groothandel in huismeubilair
Verhuur en lease van machines, apparatuur en handgereedschap voor doe-het-zelvers
Detailhandel in sanitaire artikelen en sanitair installatiemateriaal
Detailhandel in ijzerwaren, bouwmaterialen, verf en glas (algemeen assortiment)