Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Tight liquidity NBB
Cash and receivables cover 21 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
MM Develop I from Deinze, company number BE0780548508, closed financial year 2025 with a result of € 26,226 after tax. For that financial year MM Develop I recorded a gross margin of € 65,606 and equity of € 65,261. Compared with financial year 2024, the result moved from € -11,197 to € 26,226. Profitable, and profit is growing. The buffer is growing. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on April 28, 2026.
€ 65,261
▲ 67% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 26,226
▲ still € 11,197 loss in 2024
Profit after tax over the fiscal year.
€ 79,373
▲ € 70,421 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 € 3,761.
People and assets in 2025
0
Average over the fiscal year, from the social balance sheet.
Debts at end 2025
€ 834,568
▼ 40% vs 2024
€ 175,957 is repaid this year. At this pace the long-term loan is gone in ≈ 5 years.
€ 388,006
▼ 16% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 124,558
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € -7,885 | € -2,628 | € -3,683 | € 65,606 | ▲ € 69,290 |
| Profit after taxes | € -10,634 | € -634 | € -11,197 | € 26,226 | ▲ € 37,423 |
| Equity | € 50,866 | € 50,232 | € 39,035 | € 65,261 | ▲ 67% |
| Total debts | € 67,733 | € 701,644 | € 1,946,266 | € 3,603,021 | ▲ 85% |
| Cash | € 19,451 | € 33,463 | € 8,952 | € 79,373 | ▲ € 70,421 |
| Retained profit | € -10,634 | € -11,268 | € -22,465 | € 3,761 | ▲ € 26,226 |
| Bank debt | € 65,000 | € 492,012 | € 1,400,619 | € 834,568 | ▼ 40% |
| Balance sheet total | € 118,598 | € 751,875 | € 1,985,301 | € 3,668,282 | ▲ 85% |
Key figures of MM Develop I, 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 MM Develop I?
What happened at MM Develop I in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- BMH Mestdagh BV stepped down as director. NBB
- Prospectum BV stepped down as director. NBB
- Davy Demuynck stepped down as director. NBB
- Kristof Vanfleteren stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 26,226. Source: NBB ↗
- BMH Mestdagh BV became a director. NBB
- Prospectum BV became a director. NBB
- Davy Demuynck became a director. NBB
In short
From € 10,634 loss in 2022 to € 26,226 profit in 2025.
Paid € 4,789 in corporate taxes since 2022.
Best year ever: 2025, with € 26,226 profit.
Management
The stake of MM Estate Group comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
MM Develop IThe shares are held by MM Estate Group (100%). It owns 50% of Cycles Lea itself.
Directors
According to the 2025 annual accounts
Director · represented by Bruno Mestdagh
Also active at: MM Estate Group, MM Land, MM Founded II, MM Founded I, MM Martyrs Lane, MM Develop II, MM Antwerp Construct, MM Antwerp Land +1 more
since 2022 · until 2028
Director · represented by Kevin Mervielde
Also active at: MERIAUX INVEST, MERIAUX CONSTRUCT, MM Estate Group, MM Land, MM Founded II, MM Founded I, MM Martyrs Lane, MM Develop II +3 more
since 2022 · until 2028
Davy Demuynck
Director
Also active at: NATIONALE IMMOBILIENVENNOOTSCHAP VAN HET BOUWBEDRIJF, DECAT Energy Technics, RODEKRUISPLEIN, COBOS, IMMOCOBEL, DE NIEUWE KORTRIJKSE ZILVERSMEDERIJ, ESPOSITO, RIKOTAL +133 more
since 2022 · until 2028
Kristof Vanfleteren
Director
Also active at: NATIONALE IMMOBILIENVENNOOTSCHAP VAN HET BOUWBEDRIJF, DECAT Energy Technics, A’PEN, RODEKRUISPLEIN, COBOS, IMMOCOBEL, DE NIEUWE KORTRIJKSE ZILVERSMEDERIJ, ESPOSITO +139 more
since 2022 · until 2028
Shareholders
100%
Participations
50%
Establishments
Establishment units
Physical locations of this company
Veldestraat 140 box A
9850 Deinze
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 9 companies are registered at this address.
All companies at this address →Prospectum same network
€ 268,997 gross margin · 2025
MM Estate Group same network
€ 167,962 gross margin · 2025
MM Land same network
€ 744,698 gross margin · 2025
MM Martyrs Lane same network
€ 640,640 gross margin · 2025
MM Develop II same network
€ -129,229 gross margin · 2025
+4 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
- 0780.548.508
- VAT number
- BE 0780.548.508
- Registered office
- Veldestraat 140 bus A, 9850 Deinze
- Names & denominations
- MM Develop I
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 17 January 2022
- Peppol
- Active · Active since 25 Aug 2025
- Activities · NACE
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