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 19 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
MD2 REAL ESTATE from Elsene, company number BE1017177830, closed financial year 2025 with a result of € 677,944 after tax. For that financial year MD2 REAL ESTATE recorded a gross margin of € 1.6 million and equity of € 2 million. Compared with financial year 2024, the result moved from € 175,256 to € 677,944. 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 October 14, 2026.
€ 2 million
▲ 53% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 677,944
▲ 287% vs 2024
Profit after tax over the fiscal year.
€ 85,680
▼ 55% 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 € 453,375.
Debts at end 2025
€ 757,274
▼ 39% vs 2024
Loans from banks and other lenders, long and short.
€ 553,009
▲ 64% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 324,459
▲ € 274,737 vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
| 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|
| Gross margin | € 272,263 | € 1,618,407 | ▲ € 1.3 million |
| Profit after taxes | € 175,256 | € 677,944 | ▲ 287% |
| Equity | € 1,283,585 | € 1,961,530 | ▲ 53% |
| Total debts | € 2,078,695 | € 1,667,238 | ▼ 20% |
| Cash | € 190,627 | € 85,680 | ▼ 55% |
| Land & buildings | € 3,452,360 | € 3,391,481 | ▼ 2% |
| Retained profit | € -224,570 | € 453,375 | ▲ € 677,944 |
| Bank debt | € 1,237,542 | € 757,274 | ▼ 39% |
| Balance sheet total | € 4,211,237 | € 4,462,029 | ▲ 6% |
Key figures of MD2 REAL ESTATE, fiscal years 2024 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 MD2 REAL ESTATE?
What happened at MD2 REAL ESTATE in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- PHG ASSET MANAGEMENT SRL stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 677,944 (▲ 287% vs 2024). filed late Source: NBB ↗
- PHG ASSET MANAGEMENT SRL became a director. NBB
- Start of the company according to the CBE. KBO
In short
From € 175,256 profit in 2024 to € 677,944 profit in 2025.
Paid € 23,914 in corporate taxes since 2024.
Best year ever: 2025, with € 677,944 profit.
Management
The stake of MACAN.GROUP, PHG ASSET MANAGEMENT comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
MD2 REAL ESTATEThe shares are held by MACAN.GROUP (99.8%) and PHG ASSET MANAGEMENT (0.2%).
Directors
According to the 2025 annual accounts
Director · represented by PHILIPPE GILLION
Also active at: Macan PROPERTIES, Résidence Louise, Société de Transactions Immobilières et de Constructions, Comentri, Les Fermes de Matignolle, MD1 CENTER HOUSE, MACAN.GROUP, MACAN DEVELOPMENT +8 more
since 2024 · until 2030
Shareholders
99.8%
0.2%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Louizalaan 251
1050 Elsene
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 5 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
- 1017.177.830
- VAT number
- BE 1017.177.830
- Registered office
- Louizalaan 251, 1050 Elsene
- Names & denominations
- MD2 REAL ESTATE
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 11 December 2024
- Peppol
- Active · Active since 5 Jan 2026
- Activities · NACE
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