MAD.e
Annual accounts 2025
micro format, filed on 23-09-2026, 54 days lateTurnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €14,000. Estimated: probably between €7,000 and €26,000.
Balance sheet
balance sheet total €59,212 on 31-12-2025in euro
in euro
Position in the sector
-3.6%
Higher than 12% of 9,696 companies in 2025.
0.96
Higher than 25% of 9,314 companies in 2025.
2.9%
Higher than 32% of 9,438 companies in 2025.
Net result: middle half · Equity: bottom quarter · Balance sheet total: middle half · Working capital: middle half
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 |
|---|---|---|---|
| Balance sheet: assets | |||
20/58 |
59,212 | 30,621 | |
21/28 |
200 | - | |
28 |
200 | - | |
29/58 |
59,012 | 30,621 | |
40/41 |
17,506 | 6,413 | |
40 |
16,152 | 6,400 | |
41 |
1,355 | 13 | |
54/58 |
41,506 | 24,208 | |
| Balance sheet: equity and liabilities | |||
10/49 |
59,212 | 30,621 | |
10/15 |
-2,113 | -4,930 | |
10/11 |
4,444 | 3,333 | |
14 |
-6,557 | -8,263 | |
17/49 |
61,325 | 35,551 | |
42/48 |
61,325 | 35,551 | |
44 |
913 | 8,884 | |
440/4 |
913 | 8,884 | |
47/48 |
60,412 | 26,667 | |
| Income statement | |||
9900 |
2,312 | -8,173 | |
640/8 |
400 | - | |
9901 |
1,912 | -8,173 | |
65/66B |
206 | 90 | |
65 |
206 | 90 | |
9903 |
1,706 | -8,263 | |
9904 |
1,706 | -8,263 | |
9905 |
1,706 | -8,263 | |
| Appropriation of the result | |||
9906 |
-6,557 | -8,263 | |
14P |
-8,263 | - | |
| Document | |||
The notes to these accounts have 3 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 23-09-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank2025 annual accounts filed 54 days after the deadline. Filed on 23 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00526506.
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 |
|---|---|---|---|
| 200 | - | ||
| 17,297 | - | ||
| -2,313 | -4,930 | ||
| -3.6% | -16.1% | ||
| 0.96 | 0.86 | ||
| 2.9% | -27.0% |
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Investments
fixed assets acquired| Item | 2025 | 2024 |
|---|---|---|
| Financial fixed assets | €200 | - |
Source: notes to the 2024 to 2025 annual accounts (statement of fixed assets)
Insights on MAD.e
The operating result for 2025 is a profit of €1,912, after a loss of €8,173 in 2024.
Equity is negative. Debt (€61,325) exceeds the balance-sheet total (€59,212).