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 28 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
MDW PROJECTS from Destelbergen, company number BE0891743863, closed financial year 2025 with a result of € 243,142 after tax. For that financial year MDW PROJECTS recorded a gross margin of € 693,316 and equity of € 3.7 million. Compared with financial year 2024, the result moved from € 1.2 million to € 243,142. The company is profitable. 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 28, 2026.
€ 3.7 million
▼ 16% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 243,142
▼ 80% vs 2024
Profit after tax over the fiscal year.
€ 76,339
▲ € 69,549 vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 938,000 paid out
More than the year’s profit went to the shareholders; reserves fell.
People and assets in 2025
1.8
▲ 1 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 113,817
▲ 97% vs 2024
€ 63,200 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.
€ 60,411
▼ 23% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 2.2 million
▲ 32% vs 2024
€ 389,953 is repaid this year. At this pace the long-term loan is gone in ≈ 3 years.
€ 90,713
▲ € 86,272 vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 131,794
▲ 20% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 1,076,087 | € 954,104 | € 1,990,024 | € 693,316 | ▼ 65% |
| Profit after taxes | € 815,299 | € 915,562 | € 1,204,574 | € 243,142 | ▼ 80% |
| Equity | € 2,369,105 | € 3,241,667 | € 4,371,241 | € 3,676,384 | ▼ 16% |
| Total debts | € 4,931,505 | € 5,229,199 | € 3,929,376 | € 5,522,173 | ▲ 41% |
| Cash | € 6,970 | € 21,927 | € 6,790 | € 76,339 | ▲ € 69,549 |
| Land & buildings | € 1,336,680 | € 2,171,285 | € 735,723 | € 682,606 | ▼ 7% |
| Retained profit | € 2,279,105 | € 3,151,667 | € 4,281,241 | € 3,586,384 | ▼ 16% |
| Dividend | € 110,000 | € 43,000 | € 75,000 | € 938,000 | ▲ € 863,000 |
| Bank debt | € 1,920,021 | € 2,279,689 | € 1,656,484 | € 2,187,746 | ▲ 32% |
| Balance sheet total | € 7,300,610 | € 8,569,866 | € 8,393,617 | € 9,285,556 | ▲ 11% |
| Employees (FTE) | - | - | 0.8 | 1.8 | ▲ 1 |
Key figures of MDW PROJECTS, 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 MDW PROJECTS?
What happened at MDW PROJECTS in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Martin DE WITTE stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 243,142 (▼ 80% vs 2024). filed late Source: NBB ↗
- Martin DE WITTE became a director. NBB
- New establishment in Destelbergen. KBO
- Start of the company according to the CBE. KBO
In short
From € 815,299 profit in 2022 to € 243,142 profit in 2025.
Paid € 1.1 million in corporate taxes since 2022.
Best year ever: 2024, with € 1.2 million profit.
On average € 385,200 of value added per employee in 2025.
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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
It owns 100% of Agref nv and 99.9% of MICHIELS W. itself.
Directors
According to the 2025 annual accounts
Martin DE WITTE
Managing director
Also active at: Agref, W. Michiels - Algemene Onderneming van Bouwwerken, KASTER
since 2025 · until 2031
Establishments
Establishment units
Physical locations of this company
Magerstraat(HEU) 160
9070 Destelbergen
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0891.743.863
- VAT number
- BE 0891.743.863
- Registered office
- Magerstraat(HEU) 160, 9070 Destelbergen
- Names & denominations
- MDW PROJECTS
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 30 August 2007
- Peppol
- Active · Active since 4 Jun 2025
- Activities · NACE
Verhuur en exploitatie van eigen of geleased residentieel onroerend goed, exclusief sociale woningen
Activiteiten van adviesbureaus op het gebied van bedrijfsvoering en overig managementadvies
Bouwen van individuele huizen
Overige adviesbureaus op het gebied van bedrijfsbeheer; adviesbureaus op het gebied van bedrijfsvoering
Ontwikkeling van niet-residentiële bouwprojecten
Algemene bouw van residentiële gebouwen
Ontwikkeling van residentiële bouwprojecten
Handelsbemiddeling in de niet-gespecialiseerde groothandel
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