Financials
- Financial year
- 2024
- Total assets
- €6.3m
- Loss
- -€11,881
- Solvency
- 8.6%
Total assets▼ 13.1%
Net result
20192024
Mad Cow
ActiveSummary
The computed 12-month bankruptcy probability of Mad Cow is 9.7% (elevated). The 2024 annual accounts show equity of €540,897 and a net result of -€11,881. Equity is growing by about 18% per year across the filed financial years. Its solvency ranks better than 13% of 6,065 sector peers (NACE 46, financial year 2024). The company has been active since 2018 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Activity
Wholesale trade
NACE 46240Manufacture of wearing apparel NACE 14299
10th largest company by total assets in Verviers, Wholesale and retail trade sector2 sites
Size
€6.3mtotal assets 2024
- Staff
- 0.6 FTE
- Equity
- €540,897
- Loss
- -€11,881
Structure
2025 accounts not filed, 85 days past the deadline6 deeds in the Belgian Official Gazette
Why 31raises riskLiquidity: current ratio 1.02, cash €1,849, halvedFigures for financial year 2024 (filed 03-01-2026)1 financial year not filed after the legal deadline; last filed accounts filed 151 days late; 2 of the last 3 lateEquity €540,897 (8.6% of total assets)Show the evidence
Checked score
Score 2024
31
/ 100
Weak
Probability in this band: 4.2% to 15.0%
Financially better than 20% of its sector peers (NACE 46, micro)
Financial strength · tick = 2023
Weak
Solvency
34+1
equity 8.6% of total assets
Liquidity
0=
short-term debt 91.1% · cash 0.0%
Profitability
19-20
return on assets -0.2%
Bankruptcy probability, 12 months
9.7%
Elevated
0%0.5%1.5%4%10%≥ 25%
About 1 in 10 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
11-2024: 4.3%
12-2024: 4.3%● unchanged vs 11-2024
01-2025: 4.3%● unchanged vs 12-2024
02-2025: 2.9%▼ -1.4 percentage points vs 01-2025lowest value
03-2025: 3.0%▲ +0.1 percentage points vs 02-2025
04-2025: 2.9%▼ -0.1 percentage points vs 03-2025
05-2025: 3.0%▲ +0.1 percentage points vs 04-2025
06-2025: 3.5%▲ +0.5 percentage points vs 05-2025
07-2025: 3.4%▼ -0.1 percentage points vs 06-2025
08-2025: 4.3%▲ +0.9 percentage points vs 07-2025
09-2025: 4.8%▲ +0.5 percentage points vs 08-2025
10-2025: 7.1%▲ +2.3 percentage points vs 09-2025
11-2025: 7.3%▲ +0.2 percentage points vs 10-2025
12-2025: 8.2%▲ +0.9 percentage points vs 11-2025
01-2026: 10.5%▲ +2.3 percentage points vs 12-2025highest value
02-2026: 5.2%▼ -5.3 percentage points vs 01-2026
03-2026: 5.3%▲ +0.1 percentage points vs 02-2026
04-2026: 5.3%● unchanged vs 03-2026
05-2026: 5.3%● unchanged vs 04-2026
06-2026: 5.5%▲ +0.2 percentage points vs 05-2026
07-2026: 4.8%▼ -0.7 percentage points vs 06-2026
08-2026: 6.0%▲ +1.2 percentage points vs 07-2026
09-2026: 6.6%▲ +0.6 percentage points vs 08-2026
10-2026: 9.7%▲ +3.1 percentage points vs 09-2026
Credit of up to €16,000 on 30-day terms, only on tighter conditions: elevated estimated bankruptcy probability calls for adjusted credit terms
Liquidity tight (current ratio 1.02, compared with 1.02 in 2023, below the usual 1.5; short-term debt: 91.1% and cash: 0% of total assets), and 91.4% 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 46, micro): better than 22% on solvency, 2% on liquidity, 21% on profitability and 35% on growth.
The bankruptcy probability was computed on 23-10-2026 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
Eight signals.
raises risk
raises risk · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2024Net result per financial year
192021222324
2019 to 2024 · latest year -€11,881
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 13% of 6065 sector peers (2024).
NBB · sector comparisonPosition among 6065 sector peers
Solvency
better than 13%
← weakest
strongest →
raises risk · Annual accounts not filed
The financial year that closed on 31-12-2025 was due at the National Bank by 31-07-2026. Nothing is on record, 85 days later.
NBB · 6 filingsPosition against the passed deadline
31-12-2025 year end31-07-2026 deadline24-10-2026 today
raises risk · 2024 accounts filed 151 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-12-2025, 151 days past the deadline. Measured on financial year 2023: of the companies more than 90 days late, 5.61% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers.
NBB · 6 filingsDeviation from the deadline
2025
not filed
2024
151 days late
2023
61 days late
2022
23 days early
2021
30 days late
2020
25 days late
2019
93 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 56 days after the deadline; the sector median (NACE 46) for financial year 2024 is 3 days before the deadline, and 39% of those companies filed late.
Searched, nothing found (1)
- Annual accounts filedfinancial year 2024 · full…
- Annual accounts filedfinancial year 2023 · full…
- Weakest financial yearnet -€73,863
Key points
- Positive: Result rose in 2024from -€73,863 to -€11,881 ▲ 83.9% View
- Caution: Among the weakest 14% on solvencysector median 41.9% · 6,065 companies 8.6% View
- Caution: 2025 accounts not fileddeadline was 31-07-2026 85 days past the deadline View
- Caution: 2 loss-making years in a rowloss financial year 2024 -€11,881 View
By topic
Timeline
- Events
- 11
- Since
- 2020
- 08-07-2023Annual accounts filed
- 31-12-2022Highest result from 2019 to 2024
- 31-12-2022Equity above €500,000
Company details
- Sites
- 2
- Legal form
- Private limited company
- Activity
- Wholesale tradeNACE 46240
- Founded
- 01-06-2018
- Year ends
- 31-12
- Peppol
- Reachable for e-invoices
Key facts about Mad Cow
- What is the company number of Mad Cow?
- 0696.986.174. In Belgium the VAT number is the company number with BE in front: BE 0696.986.174.
- Where is Mad Cow based?
- The registered office is at Rue du Palais 147, 4800 Verviers.Company details
- What does Mad Cow do?
- According to the KBO register, the main activity is wholesale trade (NACE 46240).
- What is the legal form of Mad Cow?
- Private limited company (BV).
- When was Mad Cow founded?
- On 01-06-2018.
- Is Mad Cow still active?
- Yes, Mad Cow is an active enterprise in the KBO register.
- How many employees does Mad Cow have?
- On average 0.6 full-time equivalents in financial year 2024, according to the filed annual accounts.Financials
- What is the turnover of Mad Cow?
- Not stated in the processed annual accounts. The abridged format for small companies does not require turnover.
- Is Mad Cow profitable?
- In financial year 2024, Mad Cow made a loss of €11,881.
- Where can I find the annual accounts of Mad Cow?
- Mad Cow filed 6 annual accounts with the National Bank of Belgium, the latest for financial year 2024.
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