MADAME
ActiveSummary
MADAME has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €548k and a net result of €808. Equity is growing by ~10.5% per year across the filed fiscal years. Its solvency ranks better than 45% of 18400 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability49▼-23
Solvency53=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €30k at 30 days acceptable
Liquidity ample (current ratio 5.88 against 6.63 in 2024; short-term debt: 17% and cash: 0.5% of total assets), but 72.1% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six 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 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
27.9%
Return on assets
0%
Age of the figures
9 mo
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 18-05-2026, 74 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
74 d early
2024
31 d early
2023
22 d late
2022
60 d early
2021
10 d late
2020
11 d early
2019
77 d early
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€548k▲ 0.1%
2024 · €547k
2018: €104k
2019: €94k▼ -9.5% vs 2018lowest in 8 years
2020: €368k▲ +290% vs 2019
2021: €415k▲ +12.8% vs 2020
2022: €461k▲ +11.0% vs 2021
2023: €504k▲ +9.4% vs 2022
2024: €547k▲ +8.5% vs 2023
2025: €548k▲ +0.1% vs 2024highest in 8 years
2018 → 2025
Total assets
€1.97M▲ 2.4%
2024 · €1.92M
2018: €1.56Mlowest in 8 years
2019: €1.60M▲ +2.1% vs 2018
2020: €1.64M▲ +2.7% vs 2019
2021: €1.67M▲ +2.0% vs 2020
2022: €1.76M▲ +5.0% vs 2021
2023: €1.85M▲ +5.5% vs 2022
2024: €1.92M▲ +3.6% vs 2023
2025: €1.97M▲ +2.4% vs 2024highest in 8 years
2018 → 2025
Net result
€808▼ 98.1%
2024 · €43k
2018: €-37k
2019: €-10k▲ +73.0% vs 2018
2020: €-46k▼ -366% vs 2019lowest in 8 years
2021: €47k▲ +202% vs 2020highest in 8 years
2022: €46k▼ -3.2% vs 2021
2023: €43k▼ -5.5% vs 2022
2024: €43k▼ -1.1% vs 2023
2025: €808▼ -98.1% vs 2024
2018 → 2025
Working capital
€1.63M▲ 0.1%
2024 · €1.63M
2018: €1.19M
2019: €1.18M▼ -0.8% vs 2018lowest in 8 years
2020: €1.45M▲ +23.3% vs 2019
2021: €1.50M▲ +3.3% vs 2020
2022: €1.54M▲ +3.1% vs 2021
2023: €1.59M▲ +2.8% vs 2022
2024: €1.63M▲ +2.7% vs 2023
2025: €1.63M▲ +0.1% vs 2024highest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€415k-€461k▲ 11.0%€504k▲ 9.4%€547k▲ 8.5%€548k▲ 0.1%
2021: €415klowest in 5 years
2022: €461k▲ +11.0% vs 2021
2023: €504k▲ +9.4% vs 2022
2024: €547k▲ +8.5% vs 2023
2025: €548k▲ +0.1% vs 2024highest in 5 years
Operating result€47k-€46k▼ 2.5%€44k▼ 5.6%€56k▲ 28.3%€2k▼ 97.0%
2021: €47k
2022: €46k▼ -2.5% vs 2021
2023: €44k▼ -5.6% vs 2022
2024: €56k▲ +28.3% vs 2023highest in 5 years
2025: €2k▼ -97.0% vs 2024lowest in 5 years
Net result€47k-€46k▼ 3.2%€43k▼ 5.5%€43k▼ 1.1%€808▼ 98.1%
2021: €47khighest in 5 years
2022: €46k▼ -3.2% vs 2021
2023: €43k▼ -5.5% vs 2022
2024: €43k▼ -1.1% vs 2023
2025: €808▼ -98.1% vs 2024lowest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 97% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.97M
Fixed assets
€73 ▼ 66.0%
Current assets
€1.97M ▲ 2.4%
Equity and liabilities €1.97M
Equity
€548k ▲ 0.1%
Debt
€1.42M ▲ 3.2%
Debt's share of the balance-sheet total rises from 71.5% to 72.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€2k▼
2024 · €56k
Cash flow
€950▼
2024 · €43k
Current ratio
5.88▼
2024 · 6.63
Quick ratio
0.09▲
2024 · 0.04
Debt to equity
2.59▲
2024 · 2.51
ROE
0.1%▼
2024 · 7.8%
ROA
0.0%▼
2024 · 2.2%
Interest coverage
3.63▼
2024 · 105.34
Debt ≤ 1 year
€334k▲
2024 · €290k
Debt > 1 year
€1.08M=
2024 · €1.08M
Income taxes
€672▼
2024 · €13k
Staff costs
€88k▲
2024 · €88k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 47 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.92M€1.97M▲
Fixed assets21/28€214€73▼
Tangible fixed assets22/27€214€73▼
Furniture and vehicles24€214€73▼
Current assets29/58€1.92M€1.97M▲
Stocks and contracts in progress3€1.91M€1.94M▲
Stocks30/36€1.91M€1.94M▲
Amounts receivable within one year40/41€3k€21k▲
Trade receivables40€721€19k▲
Other amounts receivable41€2k€2k=
Cash at bank and in hand54/58€3k€9k▲
Deferred charges and accrued income490/1€4k€38▼
Equity and liabilities
Total equity and liabilities10/49€1.92M€1.97M▲
Equity10/15€547k€548k▲
Contributions10/11€382k€382k=
Capital10€382k€382k=
Issued capital100€382k€382k=
Reserves13€38k€38k=
Non-distributable reserves130/1€38k€38k=
Legal reserve130€38k€38k=
Profit (loss) carried forward14€127k€128k▲
Amounts payable17/49€1.37M€1.42M▲
Amounts payable after more than one year17€1.08M€1.08M=
Financial debts170/4€1.08M€1.08M=
Amounts payable within one year42/48€290k€334k▲
Trade debts44€19k€22k▲
Suppliers440/4€19k€22k▲
Taxes, remuneration and social security45€29k€35k▲
Taxes450/3€13k€15k▲
Remuneration and social security454/9€16k€20k▲
Other amounts payable47/48€241k€276k▲
Income statement
Code20242025
Remuneration, social security and pensions62€88k€88k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€141€141=
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€-4k€32k▲
Other operating charges640/8€968€998▲
Gross operating margin9900€141k€123k▼
Operating profit (loss)9901€56k€2k▼
Financial income75/76B€191€310▲
Recurring financial income75€191€310▲
Financial charges65/66B€533€498▼
Recurring financial charges65€533€498▼
Profit (loss) for the period before taxes9903€56k€1k▼
Income taxes67/77€13k€672▼
Profit (loss) for the period9904€43k€808▼
Profit (loss) for the period to be appropriated9905€43k€808▼
Appropriation of the result
Profit (loss) to be appropriated9906€127k€128k▲
Profit (loss) brought forward from the previous period14P€84k€127k▲
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €74k | €80k | €83k | €88k | €88k | ▲ 0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €360 | €285 | €141 | €141 | €141 | = |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €25k | €-4k | €-4k | €-4k | €32k | ▲ 857% |
| Other operating charges640/8 | €955 | €1k | €1k | €968 | €998 | ▲ 3.2% |
| Gross operating margin9900 | €148k | €124k | €125k | €141k | €123k | ▼ 12.6% |
| Operating profit (loss)9901 | €47k | €46k | €44k | €56k | €2k | ▼ 97.0% |
| Financial income75/76B | €278 | €142 | €230 | €191 | €310 | ▲ 62.2% |
| Recurring financial income75 | €278 | €142 | €230 | €191 | €310 | ▲ 62.2% |
| Financial charges65/66B | €503 | €677 | €690 | €533 | €498 | ▼ 6.5% |
| Recurring financial charges65 | €503 | €677 | €690 | €533 | €498 | ▼ 6.5% |
| Profit (loss) for the period before taxes9903 | €47k | €46k | €43k | €56k | €1k | ▼ 97.3% |
| Income taxes67/77 | - | - | - | €13k | €672 | ▼ 94.8% |
| Profit (loss) for the period9904 | €47k | €46k | €43k | €43k | €808 | ▼ 98.1% |
| Profit (loss) for the period to be appropriated9905 | €47k | €46k | €43k | €43k | €808 | ▼ 98.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.67M | €1.76M | €1.85M | €1.92M | €1.97M | ▲ 2.4% |
| Fixed assets21/28 | €504 | €497 | €356 | €214 | €73 | ▼ 66.0% |
| Tangible fixed assets22/27 | €504 | €497 | €356 | €214 | €73 | ▼ 66.0% |
| Land and buildings22 | €216 | - | - | - | - | - |
| Furniture and vehicles24 | €288 | €497 | €356 | €214 | €73 | ▼ 66.0% |
| Current assets29/58 | €1.67M | €1.76M | €1.85M | €1.92M | €1.97M | ▲ 2.4% |
| Stocks and contracts in progress3 | €1.66M | €1.74M | €1.84M | €1.91M | €1.94M | ▲ 1.3% |
| Stocks30/36 | €1.66M | €1.74M | €1.84M | €1.91M | €1.94M | ▲ 1.3% |
| Amounts receivable within one year40/41 | €1k | €703 | €2k | €3k | €21k | ▲ 675% |
| Trade receivables40 | €1k | €703 | €2k | €721 | €19k | ▲ 2,576% |
| Other amounts receivable41 | - | - | - | €2k | €2k | = |
| Cash at bank and in hand54/58 | €12k | €11k | €9k | €3k | €9k | ▲ 177% |
| Deferred charges and accrued income490/1 | €27 | €4k | €4k | €4k | €38 | ▼ 99.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.67M | €1.76M | €1.85M | €1.92M | €1.97M | ▲ 2.4% |
| Equity10/15 | €415k | €461k | €504k | €547k | €548k | ▲ 0.1% |
| Contributions10/11 | €382k | €382k | €382k | €382k | €382k | = |
| Capital10 | €382k | €382k | €382k | €382k | €382k | = |
| Issued capital100 | €382k | €382k | €382k | €382k | €382k | = |
| Reserves13 | €8k | €38k | €38k | €38k | €38k | = |
| Non-distributable reserves130/1 | €8k | €38k | €38k | €38k | €38k | = |
| Legal reserve130 | €8k | €38k | €38k | €38k | €38k | = |
| Profit (loss) carried forward14 | €26k | €41k | €84k | €127k | €128k | ▲ 0.6% |
| Amounts payable17/49 | €1.26M | €1.30M | €1.35M | €1.37M | €1.42M | ▲ 3.2% |
| Amounts payable after more than one year17 | €1.08M | €1.08M | €1.08M | €1.08M | €1.08M | = |
| Financial debts170/4 | €1.08M | €1.08M | €1.08M | €1.08M | €1.08M | = |
| Amounts payable within one year42/48 | €175k | €213k | €266k | €290k | €334k | ▲ 15.4% |
| Trade debts44 | €6k | €23k | €18k | €19k | €22k | ▲ 19.0% |
| Suppliers440/4 | €6k | €23k | €18k | €19k | €22k | ▲ 19.0% |
| Taxes, remuneration and social security45 | €29k | €29k | €29k | €29k | €35k | ▲ 20.0% |
| Taxes450/3 | €14k | €14k | €13k | €13k | €15k | ▲ 18.1% |
| Remuneration and social security454/9 | €15k | €15k | €16k | €16k | €20k | ▲ 21.5% |
| Other amounts payable47/48 | €140k | €161k | €219k | €241k | €276k | ▲ 14.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €47k | €46k | €43k | €43k | €808 | ▼ 98.1% |
| + Depreciation and write-downs630 | €360 | €285 | €141 | €141 | €141 | = |
| Operating cash flow (approximation) | €48k | €46k | €43k | €43k | €950 | ▼ 97.8% |
| Investment in fixed assets (approximation) | - | €-278 | €0 | €0 | €0 | - |
| Change in cash | - | €-1k | €-2k | €-5k | €6k | ▲ 207% |
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
18-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
22-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 22 days late
2023
31-12
Financial
Equity above €500kEq €504k ▲9.4%
3 profitable years in a row build equity to €504k.
01-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
10-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 10 days late
2021
31-12
Financial
Back to profitnet €47k
Net result €47k after 3 loss-making years.
20-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Weakest financial yearnet €-46k
Net result drops to €-46k, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity doublescurrent ratio 8.71
Current ratio from 3.81 to 8.71; short-term debt falls from €419k to €188k.
31-12
Financial
Equity above €200kEq €368k ▲290%
Equity rises from €94k to €368k.
15-05
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Show earlier events
2019
21-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 21 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 30 days late
2017
20-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Seraing · 1 establishment unit since 1990
Ground area
339 m²
Building footprint
130 m²
Volume, LiDAR
1,464 m³
2 parcels, Wallonia · tallest building 12.8 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
Rue Grand-Vinâve 74, 4101 Seraing
since 19902.048.301.686
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62058B0731/00N000 | Wallonia | 187 m² | 1 · 63 m² | 12.6 m · 4 fl. |
| 62058B0731/00P000 | Wallonia | 152 m² | 1 · 67 m² | 12.8 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 6,502 companies in sector 47716 we hold annual accounts for 2,440. 1,409 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded30-12-1989
Fiscal year end31-12
Activities, NACEBEL 2025
47711Retail sale of women's outerwear
47716Retail sale of clothing and accessories for women, men, children and babies (general range)
Scores and ratios are computed by Checked and are not a credit decision.