Equity
MADACHA paid out €15,042 in dividends. That is 60% of the 2025 profit.
MADACHA paid out €15,042 in dividends. That is 60% of the 2025 profit.
Short-term debts fell from €55,073 to €39,136.
The last five annual accounts were filed 18 to 29 days before the end of the period.
The company is a financial institution: a bank, insurer or financial holding. Its balance sheet works differently from that of a trading or manufacturing company. A bankruptcy probability from the general model would mislead here.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average 17 days before the deadline. In the sector (NACE 64), the median for financial year 2024 was 14 days before the deadline, and 28% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| MADACHA Knokke-Heist | €150,386 | €53,211 | 33.2% | - |
| TIPSY CAKE Knokke-Heist | €134,880 | €61,876 | 64.9% | - |
| LOMAN Middelkerke | €181,812 | €51,372 | 62.2% | - |
| TRITICUM Zedelgem | €141,820 | €61,477 | 67.2% | - |
| ABSENDER Antwerp | €138,741 | €55,336 | 77.5% | - |
| CREAX Boechout | €130,370 | €55,412 | 19.5% | - |
| DECAFIN Brakel | €165,717 | €60,827 | 70.5% | - |
These companies have the same main activity as MADACHA: activities of holding companies (NACE 64210). They are comparable in size and age: total assets between €130,000 and €182,000, founded between 2015 and 2016.
MADACHA files the micro format. That format states no turnover. The gross margin rose from €50,791 in 2016 to €53,211 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Higher than 35% of 9,770 companies in 2025.
Higher than 62% of 9,624 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: middle half
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||
20/58 |
150,386 | 95,073 | 113,883 | 104,955 | 97,717 | 94,234 | 79,336 | 71,736 | 63,623 | 83,892 | |
20 |
- | - | - | - | - | - | - | - | - | 0 | |
21/28 |
45,448 | 56,590 | 38,545 | 44,222 | 5,404 | 1,955 | 6,280 | 13,533 | 22,409 | 31,637 | |
21 |
- | - | - | - | - | - | - | - | - | 0 | |
22/27 |
45,448 | 56,590 | 38,545 | 44,222 | 5,404 | 1,955 | 6,280 | 13,533 | 22,409 | 31,637 | |
22 |
- | - | - | - | - | - | - | - | - | 0 | |
23 |
2,529 | 3,592 | 623 | 1,662 | 1,672 | 1,955 | 800 | 1,479 | 856 | 0 | |
24 |
14,990 | 20,921 | 1,697 | 2,187 | - | 0 | 5,479 | 12,055 | 21,553 | 31,637 | |
26 |
27,930 | 32,077 | 36,225 | 40,373 | 2,254 | - | - | - | - | 0 | |
27 |
- | - | - | 0 | 1,478 | - | - | - | - | 0 | |
28 |
- | - | - | - | - | - | - | - | - | 0 | |
29/58 |
104,938 | 38,484 | 75,338 | 60,733 | 92,314 | 92,279 | 73,056 | 58,203 | 41,214 | 52,255 | |
40/41 |
38,996 | 20,480 | 18,472 | 29,745 | 16,343 | 19,281 | 13,698 | 22,554 | 13,293 | 13,427 | |
40 |
15,242 | 20,480 | 18,472 | 18,591 | 13,876 | 15,716 | 12,784 | 22,554 | 13,293 | 12,139 | |
41 |
23,754 | - | 0 | 11,154 | 2,467 | 3,565 | 914 | - | - | 1,288 | |
50/53 |
- | - | - | - | - | - | - | - | - | 0 | |
54/58 |
65,942 | 17,607 | 56,866 | 30,620 | 75,971 | 72,998 | 59,358 | 35,649 | 27,921 | 38,828 | |
490/1 |
0 | 398 | 0 | 369 | - | - | - | - | - | - | |
| Balance sheet: equity and liabilities | |||||||||||
10/49 |
150,386 | 95,073 | 113,883 | 104,955 | 97,717 | 94,234 | 79,336 | 71,736 | 63,623 | 83,892 | |
10/15 |
50,000 | 40,000 | 40,000 | 60,000 | 75,000 | 73,398 | 69,350 | 47,528 | 37,911 | 35,488 | |
10/11 |
18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 15,450 | 18,600 | 18,600 | 18,600 | 18,600 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | - | - | - | - | - | 0 | |
11 |
- | - | - | - | - | - | - | - | - | 0 | |
1100/10 |
- | - | - | - | - | - | - | - | - | 0 | |
12 |
- | - | - | - | - | - | - | - | - | 0 | |
13 |
31,400 | 21,400 | 21,400 | 41,400 | 56,400 | 57,948 | 18,099 | 19,251 | 19,251 | 16,888 | |
130 |
- | - | - | - | - | - | 1,860 | 1,860 | 1,860 | 1,860 | |
1312 |
- | - | - | - | - | - | - | - | - | 0 | |
1319 |
- | - | - | - | - | - | - | - | - | 0 | |
132 |
- | - | - | - | 0 | 1,152 | 3,198 | 4,350 | 4,350 | 1,987 | |
133 |
31,400 | 21,400 | 21,400 | 41,400 | 56,400 | 56,796 | 13,041 | 13,041 | 13,041 | 13,041 | |
14 |
0 | 0 | 0 | 0 | 0 | 0 | 32,651 | 9,677 | 60 | 0 | |
15 |
- | - | - | - | - | - | - | - | - | 0 | |
19 |
- | - | - | - | - | - | - | - | - | 0 | |
160 |
- | - | - | - | - | - | - | - | - | 0 | |
161 |
- | - | - | - | - | - | - | - | - | 0 | |
162 |
- | - | - | - | - | - | - | - | - | 0 | |
163 |
- | - | - | - | - | - | - | - | - | 0 | |
164/5 |
- | - | - | - | - | - | - | - | - | 0 | |
168 |
- | - | - | - | - | - | - | - | - | 0 | |
17/49 |
100,386 | 55,073 | 73,883 | 44,955 | 22,717 | 20,836 | 9,986 | 24,209 | 25,711 | 48,404 | |
17 |
61,250 | - | - | - | - | - | - | 5,854 | 12,190 | 18,477 | |
170/4 |
61,250 | - | - | - | - | - | - | 5,854 | 12,190 | 18,477 | |
175 |
- | - | - | - | - | - | - | - | - | 0 | |
176 |
- | - | - | - | - | - | - | - | - | 0 | |
178/9 |
- | - | - | - | - | - | - | - | - | 0 | |
42/48 |
39,136 | 55,073 | 73,883 | 44,955 | 22,717 | 20,489 | 9,639 | 17,437 | 13,521 | 29,928 | |
42 |
- | - | 0 | 1,390 | - | - | 5,854 | 6,337 | 6,286 | 6,236 | |
43 |
374 | 122 | 205 | - | - | - | - | - | - | - | |
430/8 |
374 | 122 | 205 | - | - | - | - | - | - | 0 | |
439 |
- | - | - | - | - | - | - | - | - | 0 | |
44 |
3,852 | 1,794 | 2,253 | 7,178 | 2,699 | 4,124 | 718 | 1,730 | 1,327 | 1,139 | |
440/4 |
3,852 | 1,794 | 2,253 | 7,178 | 2,699 | 4,124 | 718 | 1,730 | 1,327 | 1,139 | |
441 |
- | - | - | - | - | - | - | - | - | 0 | |
46 |
- | - | - | - | - | - | - | - | - | 0 | |
45 |
12,148 | 8,861 | 12,555 | 2,021 | 772 | 299 | 916 | 8,666 | 5,692 | 11,307 | |
450/3 |
12,148 | 8,861 | 12,555 | 2,021 | 545 | 299 | 916 | 8,666 | 5,692 | 10,776 | |
454/9 |
- | - | - | 0 | 227 | - | - | - | - | 531 | |
47/48 |
22,762 | 44,296 | 58,871 | 34,367 | 19,247 | 16,066 | 2,151 | 705 | 216 | 11,245 | |
492/3 |
- | - | - | - | 0 | 347 | 347 | 918 | - | 0 | |
| Income statement | |||||||||||
9900 |
53,211 | 68,024 | 61,381 | 32,036 | 31,569 | 35,789 | 40,157 | 27,386 | 17,303 | 50,791 | |
62 |
- | - | - | - | - | - | - | - | - | 0 | |
630 |
12,653 | 7,326 | 5,677 | 2,403 | 1,015 | 6,371 | 7,666 | 10,452 | 10,511 | 11,764 | |
631/4 |
- | - | - | - | - | - | - | - | - | 0 | |
635/8 |
- | - | - | - | - | - | - | - | - | 0 | |
640/8 |
1,888 | 1,834 | 1,894 | 1,981 | 1,749 | 1,852 | 1,435 | 1,418 | 983 | 1,941 | |
649 |
- | - | - | - | - | - | - | - | - | 0 | |
66A |
- | - | - | - | - | - | - | - | - | 0 | |
9901 |
38,671 | 58,864 | 53,810 | 27,653 | 28,805 | 27,566 | 31,056 | 15,516 | 5,808 | 37,086 | |
75/76B |
0 | 28 | 10 | 16 | 67 | 0 | 0 | - | 1 | 0 | |
75 |
0 | 28 | 10 | 16 | 67 | 0 | 0 | - | 1 | 0 | |
76B |
- | - | - | - | - | - | - | - | - | 0 | |
65/66B |
149 | 126 | 122 | 193 | 166 | 170 | 172 | 215 | 263 | 99 | |
65 |
149 | 126 | 122 | 193 | 166 | 170 | 172 | 215 | 263 | 99 | |
66B |
- | - | - | - | - | - | - | - | - | 0 | |
9903 |
38,521 | 58,766 | 53,698 | 27,476 | 28,706 | 27,396 | 30,885 | 15,301 | 5,546 | 36,987 | |
67/77 |
13,480 | 14,470 | 15,816 | 8,109 | 8,533 | 8,348 | 9,062 | 5,685 | 3,122 | 10,099 | |
9904 |
25,042 | 44,296 | 37,882 | 19,367 | 20,174 | 19,048 | 21,823 | 9,616 | 2,423 | 26,888 | |
789 |
- | - | - | 0 | 1,152 | 2,046 | 1,152 | - | - | - | |
689 |
- | - | - | - | - | - | 0 | 0 | 2,363 | 1,987 | |
9905 |
25,042 | 44,296 | 37,882 | 19,367 | 21,326 | 21,094 | 22,974 | 9,616 | 60 | 24,901 | |
| Appropriation of the result | |||||||||||
9906 |
25,042 | 44,296 | 37,882 | 19,367 | 21,326 | 53,745 | 32,651 | 9,677 | 60 | 24,901 | |
14P |
- | - | - | - | 0 | - | - | - | - | - | |
791/2 |
- | 0 | 20,000 | 15,000 | 396 | - | - | - | - | 0 | |
691/2 |
10,000 | - | - | - | 0 | 41,895 | - | - | - | 14,901 | |
691 |
- | - | - | - | - | - | - | - | - | 0 | |
6920 |
- | - | - | - | - | - | - | - | - | 1,860 | |
6921 |
10,000 | - | - | - | 0 | 41,895 | - | - | - | 13,041 | |
694/7 |
15,042 | 44,296 | 57,882 | 34,367 | 21,722 | 11,850 | - | - | - | 10,000 | |
694 |
15,042 | 44,296 | 57,882 | 34,367 | 21,722 | 11,850 | - | - | - | 0 | |
695 |
- | - | - | - | - | - | - | - | - | 10,000 | |
| Document | |||||||||||
The notes to these accounts have 18 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 13-07-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 13-07-2026 | 2026-00284761 | |
| 31-12-2024 | micro format | 07-07-2025 | 2025-00237477 | |
| 31-12-2023 | micro format | 13-07-2024 | 2024-00241761 | |
| 31-12-2022 | micro format | 02-07-2023 | 2023-00186899 | |
| 31-12-2021 | micro format | 11-07-2022 | 2022-20167584 | |
| 31-12-2020 | micro format | 27-07-2021 | 2021-40100205 | |
| 31-12-2019 | abbreviated format | 28-07-2020 | 2020-34500366 | |
| 31-12-2018 | abbreviated format | 10-07-2019 | 2019-31000322 | |
| 31-12-2017 | abbreviated format | 11-07-2018 | 2018-31500139 | |
| 31-12-2016 | abbreviated format | 08-07-2017 | 2017-29700256 |
| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €251 | €155 |
| 2024 | 1 | €132 | €132 |
| 2023 | 1 | €78 | €78 |
| 2022 | 1 | €105 | €105 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,512 | 25,371 | 0 | 42,698 | 4,464 | 2,046 | 412 | 1,576 | 1,284 | 43,401 | ||
| 48,335 | -39,260 | 26,246 | -45,351 | 2,973 | 13,640 | 23,709 | 7,729 | -10,908 | - | ||
| 33.2% | 42.1% | 35.1% | 57.2% | 76.8% | 77.9% | 87.4% | 66.3% | 59.6% | 42.3% | ||
| 50.1% | 110.7% | 94.7% | 32.3% | 26.9% | 26.0% | 31.5% | 20.2% | 6.4% | 75.8% | ||
| 16.7% | 46.6% | 33.3% | 18.5% | 20.6% | 20.2% | 27.5% | 13.4% | 3.8% | 32.1% |
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.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €1,512 | €25,371 | - | €42,698 | €4,464 |
| Financial fixed assets | €0 | - | - | - | - |
| €12,653 | €7,326 | €5,677 | €2,403 | €1,015 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 34% lower than in 2024 and the lowest since 2022.
Debt's share of the balance-sheet total rises from 57.9% to 66.8%. Equity and debt are higher.
Source: shareholder structure in its own accounts
MADACHA has no parent and no holdings in its annual accounts.
The network starts from the directors of MADACHA. Every other company they run is a node.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Estafettes registered office Essendreef 19, 8300 Knokke-Heist 66300 Activities auxiliary to financial services and insurance activities | 10-11-2015 | 2.247.252.250 |
| 17-09-2021 | Granted | Verbouwen en/of uitbreiden van bijgebouwen en niet overdekte lage constructies; Verbouwen en/of uitbreiden zonder functiewijziging en zonder wijziging van aantal woongelegenheden submitted 06-05-2021 · project 2021078221 | Knokke-Heist |
| 29-04-2021 | Discontinued | Verbouwen en/of uitbreiden zonder functiewijziging en zonder wijziging van aantal woongelegenheden submitted 22-03-2021 · project 2021038075 | Knokke-Heist |
Source: Omgevingsloket Vlaanderen.
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 31039E0130/00A002 | 1,025 m² | 1 · 154 m² | 10.4 m · 2 |
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