MAD agency
ActiveMAD agency has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €38k and a net result of €-7k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 49% of 11297 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
58
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability9▼-82
Solvency66▲+7
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2k at 30 days acceptable
Liquidity ample (current ratio 1.67 against 1.44 in 2024; short-term debt: 59.2% and cash: 63.2% of total assets), but 59.2% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Sector 46
higher
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
40.8%
Return on assets
-7.6%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 03-08-2026, 3 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
3 d late
2024
25 d late
2023
33 d early
2022
28 d late
2021
13 d early
2020
15 d late
2019
74 d late
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
22-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€38k▼ 15.7%
2024 · €45k
2018: €-4k
2019: €1k
2020: €1k
2021: €6k
2022: €13k
2023: €22k
2024: €45k
2018 → 2025
Total assets
€94k▼ 29.4%
2024 · €132k
2018: €121k
2019: €132k
2020: €140k
2021: €123k
2022: €110k
2023: €113k
2024: €132k
2018 → 2025
Net result
€-7k
2024 · €23k
2018: €12k
2019: €5k
2020: €-221
2021: €5k
2022: €7k
2023: €9k
2024: €23k
2018 → 2025
Working capital
€37k▼ 4.0%
2024 · €38k
2018: €-9k
2019: €-2k
2020: €-13k
2021: €-8k
2022: €-2k
2023: €11k
2024: €38k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€6k-€13k▲ 113%€22k▲ 64.6%€45k▲ 105%€38k▼ 15.7%
Operating result€6k-€10k▲ 71.3%€14k▲ 41.0%€30k▲ 115%€-8k
Net result€5k-€7k▲ 37.7%€9k▲ 21.9%€23k▲ 167%€-7k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €8k after €30k in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €94k
Fixed assets
€1k▼ 82.1%
Current assets
€92k▼ 26.5%
Equity and liabilities €94k
Equity
€38k▼ 15.7%
Debt
€55k▼ 36.4%
The debt ratio falls from 65.8% to 59.2%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-2k▼
2024 · €37k
Cash flow
€-2k▼
2024 · €30k
Solvency
40.8%▲
2024 · 34.2%
Current ratio
1.67▲
2024 · 1.44
Quick ratio
1.54▲
2024 · 1.32
Debt / equity
1.45▼
2024 · 1.92
ROE
-18.6%▼
2024 · 51.2%
ROA
-7.6%▼
2024 · 17.5%
Interest coverage
-4.09▼
2024 · 59.86
Debt
€55k▼
2024 · €87k
Debt ≤ 1 year
€55k▼
2024 · €87k
Income taxes
€-999▼
2024 · €6k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€132k€94k▼
Fixed assets21/28€7k€1k▼
Tangible fixed assets22/27€7k€1k▼
Furniture and vehicles24€7k€1k▼
Current assets29/58€126k€92k▼
Stocks and contracts in progress3€10k€7k▼
Stocks30/36€10k€7k▼
Amounts receivable within one year40/41€19k€24k▲
Trade receivables40€19k€19k▼
Other amounts receivable41-€6k
Cash at bank and in hand54/58€94k€59k▼
Deferred charges and accrued income490/1€2k€2k▼
Equity and liabilities
Total equity and liabilities10/49€132k€94k▼
Equity10/15€45k€38k▼
Contributions10/11€6k€6k=
Reserves13€67k€67k=
Non-distributable reserves130/1€2k-
Reserves not available under the articles1311€2k-
Distributable reserves133€65k€67k▲
Profit (loss) carried forward14€-28k€-35k▼
Amounts payable17/49€87k€55k▼
Amounts payable within one year42/48€87k€55k▼
Trade debts44€2k€3k▲
Suppliers440/4€2k€3k▲
Taxes, remuneration and social security45€7k€3k▼
Taxes450/3€7k€3k▼
Other amounts payable47/48€78k€50k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€6k€6k▼
Other operating charges640/8€723€790▲
Gross operating margin9900€37k€-1k▼
Operating profit (loss)9901€30k€-8k▼
Financial income75/76B-€2
Recurring financial income75-€2
Financial charges65/66B€612€496▼
Recurring financial charges65€612€496▼
Profit (loss) for the period before taxes9903€30k€-8k▼
Income taxes67/77€6k€-999▼
Profit (loss) for the period9904€23k€-7k▼
Profit (loss) for the period to be appropriated9905€23k€-7k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-28k€-35k▼
Profit (loss) brought forward from the previous period14P€-51k€-28k▲
The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
20-08
State Gazette act
Resignations & appointmentsGeneral meeting · Director resignation2 facts ▸
State Gazette act
Resignations & appointments
General meeting · Director resignation2 facts ▸
- General meeting, 2026-02-28
- Director resignation, Alexandre Delobe (administrateur)
03-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 3 days late
2025
31-12
Financial
Weakest financial yearnet €-7k ▼131%
Net result drops to €-7k, the lowest in the series.
25-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 25 days late
2024
31-12
Financial
Highest result since 2018net €23k ▲167%
Operating result €30k, net result €23k, both a record.
28-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
28-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 28 days late
2022
18-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €5k
Net result €5k after one loss-making year.
15-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 15 days late
2020
13-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 74 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
29-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 29 days late
2017
28-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 28 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
no sitting director, no change since 2026
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
28-02-2026
Resigned as Director
Location & real-estate footprint
Registered office, Beauvechain · 1 establishment unit since 2009
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Chemin Jacotia, Nodebais 41320 BeauvechainGround area
1,021 m²
Building footprint
189 m²
Volume, LiDAR
1,042 m³
Parcel 25073A0130/00T000, Wallonia · tallest building 9.9 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
MAD agency
since 20092.178.525.176
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25073A0130/00T000 | Wallonia | 1,021 m² | 1 · 189 m² | 9.9 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
ITALIAN FASHION AGENCIES
BE 0429.941.117
Kapellen · Eq €38k
PHILIPPART TEXTILES
BE 0466.631.960
Kortrijk · Eq €38k
DEBOYSER AGENCIES
BE 0453.077.694
Antwerpen · Eq €38k
Paul Deplancke
BE 0405.321.626
Roeselare · Eq €38k
EURO DETEX
BE 0534.549.677
Schaarbeek · Eq €39k
Of 1,276 companies in sector 46160 we hold annual accounts for 686. 507 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded27-02-2009
Fiscal year end31-12
Activities, NACEBEL
46160Agents in the wholesale of textiles, clothing, fur, footwear and leather goods
46423Wholesale of clothing, excluding workwear and underwear
46424Wholesale trade
46425Wholesale trade
47714Retail trade
47716Retail sale of clothing and accessories for women, men, children and babies (general range)
47721Retail sale of footwear
59114Motion picture, video and television programme production, sound recording and music publishing activities
59120Post-production of films, video and television programmes
59130Motion picture, video and television programme production, sound recording and music publishing activities
59201Sound recording
59202Motion picture, video and television programme production, sound recording and music publishing activities
82300Organisation of conventions and trade shows
82990Other business support services
85592Vocational training
85599Other education
90393Specialised image, lighting and sound technical services
90029Arts creation and performing arts activities
90399Other support activities for arts and performing arts
Sources
Crossroads Bank for EnterprisesNational Bank · 16 filingsAddress and cadastre registers
Data from official sources, last processed on 22-09-2026. Scores and ratios are computed by Checked and are not a credit decision.