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Cityforward Madou

Active
Private limited companyfounded 2023active for 2 yearsKoningsstraat 47, 1000 Brussel, Belgium52 active companies are registered at this addressKBO/BCE: BE 1003.707.203

From the official registers: KBO 2 annual accounts at the National Bank publications in the Belgian Official Gazette

Summary

Cityforward Madou has been active since 2023 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €28.5m and a net result of -€4.9m. Its solvency ranks better than 49% of 11,221 sector peers (NACE 68, financial year 2025). The computed 12-month bankruptcy probability is 0.6% (low).

Risk analysisFollow ReportCompare
Cityforward MadouActiveChecked score 80/100
Risk analysis ReportCompare

Overview

Official details

KBO
Status
Active since 20-12-2023 Normal situation
Legal form
Private limited company
Registered office
Koningsstraat 47, 1000 Brussel
Activity
Development of non-residential building projects NACE 68122and 1 other
Establishment unit
2.356.018.647 1000 Brussel, since 20-12-2023
Financial year end
31 December
Peppol
Reachable since 16-01-2024
Company details

Who decides

Board
  • Cityforward Schuman HoldCoDirector · since 20-12-2023 · permanent representative Frédéric Van der Planken
  • CECEDirector · since 18-04-2024 · permanent representative SCHWAGTEN,Tobias
Auditor
Forvis Mazars Réviseurs d’Entreprises
Shareholders
Board & ownership

How it is doing

80 Excellent Checked score 2025
Bankruptcy probabilitywithin 12 months
0.6%
Annual accounts 2025
Gross margin
-€9,197
▲ 39.3%
Loss
€4.9m
▲ 45.4%
Equity
€28.5m
▲ 5.7%
Total assets
€95.1m
▼ 1.7%
Turnover not published (abbreviated format)2025 accounts 31 days early
Filed on 30-06-2026at the National Bank
Financials
Why 80raises riskLiquidity: cash €3,590Founded in 2023lowers riskSector: Real estate activities (NACE 68)Size: total assets €95.1mShow the evidence

Checked score

Score 2025
80 / 100
Excellent
Probability in this band: under 0.55%
Financially better than 41% of its sector peers (NACE 68, large)
Every signal that counts is listed under Signals.
Financial strength · tick = 2024
Weak
Solvency 55+2
equity 30.0% of total assets
Liquidity 50=
short-term debt 0.0% · cash 0.0%
Profitability 12-2
return on assets -5.2%
Bankruptcy probability, 12 months
0.6% Low
0%0.5%1.5%4%10%≥ 25%

About 6 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.2% (318 companies, NACE 68, large)
Last 24 months 01-2025: 0.7% 02-2025: 0.7%● unchanged vs 01-2025 03-2025: 0.7%● unchanged vs 02-2025 04-2025: 0.8%▲ +0.1 percentage points vs 03-2025 05-2025: 0.8%● unchanged vs 04-2025 06-2025: 0.9%▲ +0.1 percentage points vs 05-2025highest value 07-2025: 0.5%▼ -0.4 percentage points vs 06-2025lowest value 08-2025: 0.5%● unchanged vs 07-2025 09-2025: 0.5%● unchanged vs 08-2025 10-2025: 0.5%● unchanged vs 09-2025 11-2025: 0.5%● unchanged vs 10-2025 12-2025: 0.5%● unchanged vs 11-2025 01-2026: 0.5%● unchanged vs 12-2025 02-2026: 0.5%● unchanged vs 01-2026 03-2026: 0.5%● unchanged vs 02-2026 04-2026: 0.5%● unchanged vs 03-2026 05-2026: 0.5%● unchanged vs 04-2026 06-2026: 0.5%● unchanged vs 05-2026 07-2026: 0.6%▲ +0.1 percentage points vs 06-2026 08-2026: 0.6%● unchanged vs 07-2026 09-2026: 0.6%● unchanged vs 08-2026 10-2026: 0.6%● unchanged vs 09-2026
Credit of up to €2,250,000 on 30-day terms, only on tighter conditions: young company (under 3 years) without a track record
short-term debt: 0% and cash: 0% of total assets, and 70% of the assets are financed with debt and provisions.
How it is calculated

The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:

75-100 Excellent under 0.55%
60-74 Healthy 0.55% to 1.5%
45-59 Fair 1.5% to 4.2%
25-44 Weak 4.2% to 15.0%
0-24 Critical over 15.0%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 68, large): better than 50% on solvency, 43% on liquidity, 4% on profitability and 66% on growth.

The bankruptcy probability was computed on 31-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Signals

Five signals.
lowers riskraises riskneutral
raises risk · Liquidity: cash €3,590
NBB · annual accounts
lowers risk · Sector: Real estate activities (NACE 68)
KBO
lowers risk · Size: total assets €95.1m
Companies of this size fail less often; how much that weighs depends on the rest of its profile.
NBB · annual accounts
raises risk · Founded in 2023
Companies of this age fail more often than older ones; how much that weighs depends on the rest of its profile.
KBO
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-06-2026, 31 days ahead of the deadline.
NBB · 2 filings
Deviation from the deadline
2025
31 days early
2024
37 days early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 2 accounts on average 34 days before the deadline; the sector median (NACE 68) for financial year 2024 is 7 days before the deadline, and 36% of those companies filed late.

Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven months
Where today falls in the filing period
31-10-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
Searched since incorporation in 2023.
KBO publications · our coverage

Key points

  • Caution: Among the weakest 5% on net resultsector median €10,048 · 11,212 companies -€4.9m View
  • Caution: Result fell in 2025from -€3.4m to -€4.9m ▼ 45.4% View
  • Controlled by Cityforward Schuman HoldCoultimately: Cityforward 100% View

Documents

Annual accounts at the NBB

Acts in the Belgian Official Gazette

All publications in the Belgian Official Gazette

Articles and registers

Key facts about Cityforward Madou

What is the company number of Cityforward Madou?
1003.707.203. In Belgium the VAT number is the company number with BE in front: BE 1003.707.203.
Where is Cityforward Madou based?
The registered office is at Koningsstraat 47, 1000 Brussel.Company details
What does Cityforward Madou do?
According to the KBO register, the main activity is development of non-residential building projects (NACE 68122).
What is the legal form of Cityforward Madou?
Private limited company (BV).
When was Cityforward Madou founded?
On 20-12-2023.
Is Cityforward Madou still active?
Yes, Cityforward Madou is an active enterprise in the KBO register.
What is the turnover of Cityforward Madou?
The annual accounts for financial year 2025 state no turnover: the abbreviated format does not require it.Financials
Is Cityforward Madou profitable?
In financial year 2025, Cityforward Madou made a loss of €4.9m.
Where can I find the annual accounts of Cityforward Madou?
Cityforward Madou filed 2 annual accounts with the National Bank of Belgium, the latest for financial year 2025.Annual accounts at the National Bank
When are the next annual accounts of Cityforward Madou due?
By 31-07-2027, for financial year 2026.Timeline

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