Financials
Financial year 2025
M&D Partnership from Elsene, company number BE0844401331, closed financial year 2025 with a result of € -7,773 after tax. For that financial year M&D Partnership recorded a gross margin of € -1,416 and equity of € 23,272. Compared with financial year 2024, the result moved from € 15,783 to € -7,773. 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 August 31, 2026.
€ 23,272
▼ 30% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -7,773
▼ still € 15,783 profit in 2024
Profit after tax over the fiscal year.
€ 15,951
▼ 40% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € 17,072.
People and assets in 2025
€ 24,610
▲ 257% 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.
€ 18,572
▲ 210% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 5,300
▲ 5% vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 6,785 | € -12,459 | € 24,363 | € -1,416 | ▼ € 25,778 |
| Profit after taxes | € 2,241 | € -16,177 | € 15,783 | € -7,773 | ▼ € 23,556 |
| Equity | € 33,681 | € 17,504 | € 33,286 | € 23,272 | ▼ 30% |
| Total debts | € 23,480 | € 21,020 | € 17,022 | € 31,382 | ▲ 84% |
| Cash | € 28,614 | € 18,100 | € 26,707 | € 15,951 | ▼ 40% |
| Retained profit | € 27,481 | € 11,304 | € 27,086 | € 17,072 | ▼ 37% |
| Dividend | € 0 | € 0 | € 0 | € 2,241 | |
| Balance sheet total | € 57,161 | € 38,524 | € 50,308 | € 54,654 | ▲ 9% |
Key figures of M&D Partnership, 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&D Partnership?
What happened at M&D Partnership in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 7,773 (▼ € 23,556 vs 2024). filed late Source: NBB ↗
- New establishment in Waterloo. KBO
- Start of the company according to the CBE. KBO
- Thibault MOREAU DE BELLAING became a director. NBB
In short
From € 2,241 profit in 2022 to € 7,773 loss in 2025.
Paid € 5,359 in corporate taxes since 2022.
Best year ever: 2024, with € 15,783 profit.
Paid out € 2,241 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 M&D Partnership are Thibault MOREAU DE BELLAING and Abdelhakim El-Azhari.
Directors
According to the 2025 annual accounts
Thibault MOREAU DE BELLAING
Director
since 2012
Abdelhakim El-Azhari
Director
Establishments
Establishment units
Physical locations of this company
Terkamerenboslaan 64
1050 Elsene
Drève du Méreault 75
1410 Waterloo
Active since 1 April 2012
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0844.401.331
- VAT number
- BE 0844.401.331
- Registered office
- Terkamerenboslaan 64, 1050 Elsene
- Names & denominations
- M&D Partnership
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 14 March 2012
- Peppol
- Active · Active since 4 Dec 2025
- Activities · NACE
Activiteiten van stedebouwkundige en tuin- en landschapsarchitecten
Landschapsverzorging
Personenvervoer over de weg volgens dienstregeling
Overige posterijen en koeriers
Ontwikkeling van residentiële bouwprojecten