MAD.GROUP
ActiveSummary
The computed 12-month bankruptcy probability of MAD.GROUP is 1.6% (moderate). The 2025 annual accounts show equity of €75,712 and a net result of -€1,290. Equity is growing by ~6.1% per year across the filed fiscal years. Its solvency ranks better than 85% of 1226 sector peers (fiscal year 2025). The company has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability34▼-27
Solvency100▲+1
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
1.6%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €4,500 at 30 days acceptable
Liquidity ample (current ratio 2.97 against 2.78 in 2024; short-term debt: 23.5% and cash: 27.3% of total assets), and 23.5% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 81
Relative position
BE, all sectors
reference
Services to buildings and landscape activities (NACE 81)
about 79% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
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 01-07-2026, 30 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
30 d early
2024
22 d early
2023
19 d early
2022
57 d late
2021
31 d late
2020
31 d late
2019
31 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 11 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 43% of the sector filed late.
Checked, nothing found (2)
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. Usually files around 13 July (4 of the last 5 filed years within 49 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Turnover
€415,971
EBIT margin
4.1%
Net result
-€1,290
2024 · €9,899
Working capital
€45,982▼ 2.7%
2024 · €47,272
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 81, Services to buildings and landscape activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€415,971
Operating result€9,889▲ 146%-€9,486€16,939€10,400▼ 38.6%€1,755▼ 83.1%
Net result€8,120within the sector's middle half▲ 9,034%-€12,961below the sector's middle half€21,707within the sector's middle half€9,899within the sector's middle half▼ 54.4%-€1,290below the sector's middle half
EBIT margin4.1%
Equity€66,920within the sector's middle half▲ 13.8%€53,959within the sector's middle half▼ 19.4%€75,665within the sector's middle half▲ 40.2%€77,003within the sector's middle half▲ 1.8%€75,712within the sector's middle half▼ 1.7%
Total assets€156,274within the sector's middle half▼ 15.9%€132,123within the sector's middle half▼ 15.5%€170,315within the sector's middle half▲ 28.9%€103,549within the sector's middle half▼ 39.2%€99,004below the sector's middle half▼ 4.4%
Debt€89,354▼ 29.7%€78,164▼ 12.5%€94,650▲ 21.1%€26,546▼ 72.0%€23,292▼ 12.3%
Working capital€51,723within the sector's middle half▲ 39.9%€51,814within the sector's middle half▲ 0.2%€73,520above the sector's middle half▲ 41.9%€47,272within the sector's middle half▼ 35.7%€45,982within the sector's middle half▼ 2.7%
Solvency42.8%within the sector's middle half▲ 11.2pp40.8%within the sector's middle half▼ 2.0pp44.4%within the sector's middle half▲ 3.6pp74.4%above the sector's middle half▲ 29.9pp76.5%above the sector's middle half▲ 2.1pp
Current ratio1.58within the sector's middle half▲ 0.281.66within the sector's middle half▲ 0.081.78within the sector's middle half▲ 0.112.78within the sector's middle half▲ 1.002.97above the sector's middle half▲ 0.19
Return on assets (ROA)5.2%within the sector's middle half▲ 5.1pp-9.8%below the sector's middle half▼ 15.0pp12.7%within the sector's middle half▲ 22.6pp9.6%within the sector's middle half▼ 3.2pp-1.3%below the sector's middle half▼ 10.9pp
Staff (FTE)0.3▼ 76.9%
above
within
below
the middle half (P25 to P75) of NACE 81, Services to buildings and landscape activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 83% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €99,004
Fixed assets
€29,730 =
Current assets
€69,274 ▼ 6.2%
Equity and liabilities €99,004
Equity
€75,712 ▼ 1.7%
Debt
€23,292 ▼ 12.3%
Debt's share of the balance-sheet total falls from 25.6% to 23.5%. Equity and debt are lower.
Key figures and ratios
Debt to equity
0.31▼
2024 · 0.34
ROE
-1.7%▼
2024 · 12.9%
Debt ≤ 1 year
€23,292▼
2024 · €26,546
Income taxes
€2,853▲
2024 · €319
Staff costs
€2,830▼
2024 · €22,058
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,910 companies that looked in July 2024 the way this one looks now, 1.1% went bankrupt within 24 months and 91% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a small loss
1.1%
went bankrupt
7.8%
stopped otherwise
91%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 1.6% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 6,910 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | - | - | €415,971 | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | €312,307 | - | - | - |
| Remuneration, social security and pensions62 | €60,255 | €44,725 | €85,678 | €22,058 | €2,830 | ▼ 87.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13,564 | €13,564 | - | - | - | - |
| Other operating charges640/8 | €820 | €1,309 | €1,047 | €773 | - | - |
| Gross operating margin9900 | €84,527 | €50,112 | €103,664 | €33,230 | €4,585 | ▼ 86.2% |
| Operating profit (loss)9901 | €9,889 | -€9,486 | €16,939 | €10,400 | €1,755 | ▼ 83.1% |
| Financial income75/76B | €0 | - | €5,008 | - | - | - |
| Recurring financial income75 | €0 | - | €5,008 | - | - | - |
| Financial charges65/66B | €428 | €509 | €240 | €181 | €192 | ▲ 6.1% |
| Recurring financial charges65 | €428 | €509 | €240 | €181 | €192 | ▲ 6.1% |
| Profit (loss) for the period before taxes9903 | €9,460 | -€9,995 | €21,707 | €10,219 | €1,562 | ▼ 84.7% |
| Income taxes67/77 | €1,340 | €2,965 | - | €319 | €2,853 | ▲ 793% |
| Profit (loss) for the period9904 | €8,120 | -€12,961 | €21,707 | €9,899 | -€1,290 | ▼ 113% |
| Profit (loss) for the period to be appropriated9905 | €8,120 | -€12,961 | €21,707 | €9,899 | -€1,290 | ▼ 113% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €156,274 | €132,123 | €170,315 | €103,549 | €99,004 | ▼ 4.4% |
| Fixed assets21/28 | €15,709 | €2,145 | €2,145 | €29,730 | €29,730 | = |
| Tangible fixed assets22/27 | €13,564 | - | - | - | - | - |
| Furniture and vehicles24 | €13,564 | - | - | - | - | - |
| Financial fixed assets28 | €2,145 | €2,145 | €2,145 | €29,730 | €29,730 | = |
| Current assets29/58 | €140,565 | €129,978 | €168,170 | €73,819 | €69,274 | ▼ 6.2% |
| Amounts receivable within one year40/41 | €128,798 | €116,216 | €124,783 | €40,408 | €42,274 | ▲ 4.6% |
| Trade receivables40 | €128,719 | €88,396 | €97,139 | €40,408 | €42,264 | ▲ 4.6% |
| Other amounts receivable41 | €79 | €27,821 | €27,644 | - | €10 | - |
| Cash at bank and in hand54/58 | €11,767 | €13,761 | €43,387 | €33,411 | €27,000 | ▼ 19.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €156,274 | €132,123 | €170,315 | €103,549 | €99,004 | ▼ 4.4% |
| Equity10/15 | €66,920 | €53,959 | €75,665 | €77,003 | €75,712 | ▼ 1.7% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Capital10 | €18,600 | - | - | - | - | - |
| Issued capital100 | €18,600 | - | - | - | - | - |
| Outside capital11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Other1109/19 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Legal reserve130 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €46,460 | €33,499 | €55,205 | €56,543 | €55,252 | ▼ 2.3% |
| Amounts payable17/49 | €89,354 | €78,164 | €94,650 | €26,546 | €23,292 | ▼ 12.3% |
| Amounts payable after more than one year17 | €512 | - | - | - | - | - |
| Financial debts170/4 | €512 | - | - | - | - | - |
| Amounts payable within one year42/48 | €88,842 | €78,164 | €94,650 | €26,546 | €23,292 | ▼ 12.3% |
| Current portion of amounts payable after more than one year42 | €6,136 | €494 | - | - | - | - |
| Trade debts44 | €69,877 | €64,232 | €78,338 | €18,982 | €16,652 | ▼ 12.3% |
| Suppliers440/4 | €69,877 | €64,232 | €78,338 | €18,982 | €16,652 | ▼ 12.3% |
| Taxes, remuneration and social security45 | €12,203 | €13,438 | €16,312 | €7,564 | €6,640 | ▼ 12.2% |
| Taxes450/3 | €4,863 | €3,527 | - | €4,675 | €3,751 | ▼ 19.8% |
| Remuneration and social security454/9 | €7,341 | €9,911 | €16,312 | €2,889 | €2,889 | = |
| Other amounts payable47/48 | €625 | - | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €8,120 | -€12,961 | €21,707 | €9,899 | -€1,290 | ▼ 113% |
| + Depreciation and write-downs630 | €13,564 | €13,564 | - | - | - | - |
| Operating cash flow (approximation) | €21,684 | €603 | €21,707 | €9,899 | -€1,290 | ▼ 113% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€27,585 | €0 | ▲ 100% |
| Change in cash | - | €1,995 | €29,626 | -€9,976 | -€6,411 | ▲ 35.7% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
01-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
09-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
12-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €21,707
Net result €21,707 after one loss-making year.
26-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 57 days late
2022
31-12
Financial
Weakest financial yearnet -€12,961
Net result drops to -€12,961, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 31 days late
2019
23-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 23 days late
2018
14-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 14 days late
2017
28-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 28 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
No directors read yet: 0 of 6 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Sint-Agatha-Berchem · 1 establishment unit since 2009
Ground area
290 m²
Building footprint
293 m²
Volume, LiDAR
2,049 m³
Parcel 21342B0043/00F003, Brussels · tallest building 10.6 m, ±2 floors. Linked by address, not a title deed.
295
companies at this address
See who is registered here
1 establishment unit
MAD GROUP
since 20092.183.112.187
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21342B0043/00F003 | Brussels | 290 m² | 1 · 293 m² | 10.6 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 6,990 companies in this sector we hold annual accounts for 2,414. 2,021 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
Identification
Legal formPrivate limited company
Founded07-10-2009
Fiscal year end31-12
Activities, NACEBEL 2025
81220Other building cleaning and industrial cleaning
Contact
E-mail
mad.group@hotmail.com
E-invoicing
Reachable via Peppol
Peppol ID
0208:0819401164
Also
9925:BE0819401164
Registered
19-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.