MADAMS
ActiveSummary
MADAMS has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €32,297 and a net result of €104,636. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 18% of 31958 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+3
Solvency38▼-62
Growth58▼-20
Track record94
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000 at 30 days acceptable
Liquidity tight (current ratio 1.16 against 5.28 in 2024; short-term debt: 73.2% and cash: 52% of total assets), and 87.3% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
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
12.7%
Return on assets
41.1%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 18% of 31958 sector peers (2025).
NBB · sector comparisonPosition among 31958 sector peers
Solvency
better than 18%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 18-08-2026, 18 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 4 filingsDeviation from the deadline
2025
18 d late
2024
30 d early
2023
33 d early
2022
28 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 4 accounts on average 4 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% 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 25 July (3 of the last 4 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€32,297▼ 87.7%
2024 · €261,660
Total assets
€254,857▼ 26.7%
2024 · €347,616
Net result
€104,636▲ 34.7%
2024 · €77,702
Working capital
€30,354▼ 87.3%
2024 · €239,308
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line2022202320242025
Operating result€97,303-€131,284▲ 34.9%€91,710▼ 30.1%€134,269▲ 46.4%
Net result€77,237above the sector's middle half-€100,721above the sector's middle half▲ 30.4%€77,702above the sector's middle half▼ 22.9%€104,636above the sector's middle half▲ 34.7%
Equity€83,237within the sector's middle half-€183,958within the sector's middle half▲ 121%€261,660above the sector's middle half▲ 42.2%€32,297within the sector's middle half▼ 87.7%
Total assets€115,682within the sector's middle half-€270,187within the sector's middle half▲ 134%€347,616within the sector's middle half▲ 28.7%€254,857within the sector's middle half▼ 26.7%
Debt€32,445-€44,607▲ 37.5%€55,956▲ 25.4%€186,561▲ 233%
Working capital€15,667within the sector's middle half-€160,180above the sector's middle half▲ 922%€239,308above the sector's middle half▲ 49.4%€30,354within the sector's middle half▼ 87.3%
Solvency72.0%within the sector's middle half-68.1%within the sector's middle half▼ 3.9pp75.3%within the sector's middle half▲ 7.2pp12.7%below the sector's middle half▼ 62.6pp
Current ratio1.48within the sector's middle half-4.59above the sector's middle half▲ 3.115.28above the sector's middle half▲ 0.691.16within the sector's middle half▼ 4.11
Return on assets (ROA)66.8%above the sector's middle half-37.3%above the sector's middle half▼ 29.5pp22.4%within the sector's middle half▼ 14.9pp41.1%above the sector's middle half▲ 18.7pp
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 46% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €254,857
Fixed assets
€37,943 ▼ 27.5%
Current assets
€216,915 ▼ 26.5%
Equity and liabilities €254,857
Equity
€32,297 ▼ 87.7%
Provisions
€36,000 ▲ 20.0%
Debt
€186,561 ▲ 233%
Debt's share of the balance-sheet total rises from 16.1% to 73.2%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€152,740▲
2024 · €109,162
Cash flow
€123,108▲
2024 · €95,153
Debt to equity
5.78▲
2024 · 0.21
ROE
324.0%▲
2024 · 29.7%
Interest coverage
12.71▼
2024 · 18.67
Debt ≤ 1 year
€186,561▲
2024 · €55,956
Income taxes
€30,383▲
2024 · €21,005
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 7,976 companies that looked in July 2024 the way this one looks now, 3.6% went bankrupt within 24 months and 94% are still going.
- Micro
- 2 to 5 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
3.6%
went bankrupt
1.8%
stopped otherwise
94%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.4% 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 497,338 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% | 1.9% |
| 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 7,976 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 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,389 | €16,550 | €17,452 | €18,472 | ▲ 5.8% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | €41,622 | -€11,622 | €6,000 | ▲ 152% |
| Other operating charges640/8 | - | - | €141 | €597 | ▲ 325% |
| Gross operating margin9900 | €99,692 | €189,457 | €97,680 | €159,337 | ▲ 63.1% |
| Operating profit (loss)9901 | €97,303 | €131,284 | €91,710 | €134,269 | ▲ 46.4% |
| Financial income75/76B | €1 | €312 | €12,844 | €12,771 | ▼ 0.6% |
| Recurring financial income75 | €1 | €312 | €12,844 | €12,771 | ▼ 0.6% |
| Financial charges65/66B | €76 | €3,269 | €5,847 | €12,020 | ▲ 106% |
| Recurring financial charges65 | €76 | €3,269 | €5,847 | €12,020 | ▲ 106% |
| Profit (loss) for the period before taxes9903 | €97,228 | €128,327 | €98,707 | €135,019 | ▲ 36.8% |
| Income taxes67/77 | €19,990 | €27,606 | €21,005 | €30,383 | ▲ 44.6% |
| Profit (loss) for the period9904 | €77,237 | €100,721 | €77,702 | €104,636 | ▲ 34.7% |
| Profit (loss) for the period to be appropriated9905 | €77,237 | €100,721 | €77,702 | €104,636 | ▲ 34.7% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €115,682 | €270,187 | €347,616 | €254,857 | ▼ 26.7% |
| Fixed assets21/28 | €67,570 | €65,401 | €52,353 | €37,943 | ▼ 27.5% |
| Tangible fixed assets22/27 | €67,570 | €65,401 | €52,353 | €37,943 | ▼ 27.5% |
| Furniture and vehicles24 | €67,570 | €65,401 | €52,353 | €37,943 | ▼ 27.5% |
| Current assets29/58 | €48,112 | €204,787 | €295,263 | €216,915 | ▼ 26.5% |
| Amounts receivable within one year40/41 | €27,179 | €77,298 | €67,276 | €70,110 | ▲ 4.2% |
| Trade receivables40 | €27,179 | €35,671 | €33,416 | €34,110 | ▲ 2.1% |
| Other amounts receivable41 | - | €41,627 | €33,860 | €36,000 | ▲ 6.3% |
| Current investments50/53 | - | €38,364 | €58,006 | €14,378 | ▼ 75.2% |
| Cash at bank and in hand54/58 | €20,934 | €89,125 | €169,981 | €132,427 | ▼ 22.1% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €115,682 | €270,187 | €347,616 | €254,857 | ▼ 26.7% |
| Equity10/15 | €83,237 | €183,958 | €261,660 | €32,297 | ▼ 87.7% |
| Contributions10/11 | €6,000 | €6,000 | €6,000 | €6,000 | = |
| Reserves13 | €77,237 | €177,958 | €255,660 | €26,297 | ▼ 89.7% |
| Distributable reserves133 | €77,237 | €177,958 | €255,660 | €26,297 | ▼ 89.7% |
| Profit (loss) carried forward14 | - | - | - | €0 | - |
| Provisions and deferred taxes16 | - | €41,622 | €30,000 | €36,000 | ▲ 20.0% |
| Provisions for liabilities and charges160/5 | - | €41,622 | €30,000 | €36,000 | ▲ 20.0% |
| Other liabilities and charges164/5 | - | €41,622 | €30,000 | €36,000 | ▲ 20.0% |
| Amounts payable17/49 | €32,445 | €44,607 | €55,956 | €186,561 | ▲ 233% |
| Amounts payable within one year42/48 | €32,445 | €44,607 | €55,956 | €186,561 | ▲ 233% |
| Trade debts44 | €3,761 | €4,520 | €29,695 | €3,095 | ▼ 89.6% |
| Suppliers440/4 | €3,761 | €4,520 | €29,695 | €3,095 | ▼ 89.6% |
| Taxes, remuneration and social security45 | €27,306 | €39,561 | €26,261 | €65,161 | ▲ 148% |
| Taxes450/3 | €27,306 | €39,561 | €26,261 | €65,161 | ▲ 148% |
| Other amounts payable47/48 | €1,378 | €526 | €0 | €118,304 | - |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €77,237 | €100,721 | €77,702 | €104,636 | ▲ 34.7% |
| + Depreciation and write-downs630 | €2,389 | €16,550 | €17,452 | €18,472 | ▲ 5.8% |
| Operating cash flow (approximation) | €79,627 | €117,271 | €95,153 | €123,108 | ▲ 29.4% |
| Investment in fixed assets (approximation) | - | -€14,381 | -€4,404 | -€4,062 | ▲ 7.8% |
| Change in cash | - | €68,192 | €80,855 | -€37,554 | ▼ 146% |
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
18-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 18 days late
2025
31-12
Financial
Highest result since 2022net €104,636 ▲34.7%
Operating result €134,269, net result €104,636, both a record.
01-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Equity above €200,000Eq €261,660 ▲42.2%
3 profitable years in a row build equity to €261,660.
28-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Liquidity triplescurrent ratio 4.59
Current ratio from 1.48 to 4.59.
31-12
Financial
Equity above €150,000Eq €183,958 ▲121%
2 profitable years in a row build equity to €183,958.
28-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 28 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Gent · 1 establishment unit since 2022
Ground area
881 m²
Building footprint
159 m²
Volume, LiDAR
788 m³
Parcel 44062B0175/00B000, Flanders · tallest building 10.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
MADAMS
since 20222.326.636.357
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44062B0175/00B000 | Flanders | 881 m² | 1 · 158 m² | 10.8 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.
Recognitions · licences · registrations
Legal Entity Identifier
98450038D5FDEE9F5857
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Of 82,646 companies in sector 70200 we hold annual accounts for 52,627. 35,016 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded21-01-2022
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0780727561
Also
9925:BE0780727561
Registered
08-01-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.