MADANI
ActiveSummary
The annual accounts of MADANI for fiscal year 2025 show a net loss of 51% of total assets. The 2025 annual accounts show equity of €77k and a net result of €-47k. Equity is growing by ~20.5% per year across the filed fiscal years. Its solvency ranks better than 90% of 18400 sector peers (fiscal year 2025). The company has been active since 2000 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability4▼-45
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4k at 30 days only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity ample (current ratio 5.62 against 6.97 in 2024; short-term debt: 16.4% and cash: 8.4% of total assets), and 16.4% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five 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 →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
83.6%
Return on assets
-51%
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 03-07-2026, 28 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
28 d early
2024
7 d early
2023
7 d early
2022
25 d late
2021
24 d late
2020
27 d late
2019
87 d late
← 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
€77k▼ 37.9%
2024 · €123k
2018: €25klowest in 8 years
2019: €30k▲ +21.0% vs 2018
2020: €58k▲ +90.3% vs 2019
2021: €81k▲ +39.9% vs 2020
2022: €93k▲ +14.9% vs 2021
2023: €106k▲ +14.4% vs 2022
2024: €123k▲ +16.5% vs 2023highest in 8 years
2025: €77k▼ -37.9% vs 2024
2018 → 2025
Total assets
€92k▼ 35.6%
2024 · €142k
2018: €111k
2019: €104k▼ -5.9% vs 2018
2020: €124k▲ +19.2% vs 2019
2021: €135k▲ +8.8% vs 2020
2022: €124k▼ -8.2% vs 2021
2023: €125k▲ +0.8% vs 2022
2024: €142k▲ +13.9% vs 2023highest in 8 years
2025: €92k▼ -35.6% vs 2024lowest in 8 years
2018 → 2025
Net result
€-47k
2024 · €17k
2018: €44k
2019: €55k▲ +24.7% vs 2018highest in 8 years
2020: €43k▼ -22.4% vs 2019
2021: €23k▼ -46.4% vs 2020
2022: €12k▼ -47.9% vs 2021
2023: €13k▲ +10.8% vs 2022
2024: €17k▲ +31.3% vs 2023
2025: €-47k▼ -368% vs 2024lowest in 8 years
2018 → 2025
Working capital
€70k▼ 38.5%
2024 · €113k
2018: €86lowest in 8 years
2019: €5k▲ +5399% vs 2018
2020: €31k▲ +567% vs 2019
2021: €59k▲ +86.2% vs 2020
2022: €78k▲ +32.5% vs 2021
2023: €94k▲ +21.4% vs 2022
2024: €113k▲ +19.9% vs 2023highest in 8 years
2025: €70k▼ -38.5% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€81k-€93k▲ 14.9%€106k▲ 14.4%€123k▲ 16.5%€77k▼ 37.9%
2021: €81k
2022: €93k▲ +14.9% vs 2021
2023: €106k▲ +14.4% vs 2022
2024: €123k▲ +16.5% vs 2023highest in 5 years
2025: €77k▼ -37.9% vs 2024lowest in 5 years
Operating result€32k-€65k▲ 101%€19k▼ 71.4%€60k▲ 223%€35k▼ 42.8%
2021: €32k
2022: €65k▲ +101% vs 2021highest in 5 years
2023: €19k▼ -71.4% vs 2022lowest in 5 years
2024: €60k▲ +223% vs 2023
2025: €35k▼ -42.8% vs 2024
Net result€23k-€12k▼ 47.9%€13k▲ 10.8%€17k▲ 31.3%€-47k
2021: €23khighest in 5 years
2022: €12k▼ -47.9% vs 2021
2023: €13k▲ +10.8% vs 2022
2024: €17k▲ +31.3% vs 2023
2025: €-47k▼ -368% 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 43% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €92k
Fixed assets
€7k ▼ 31.2%
Current assets
€85k ▼ 35.9%
Equity and liabilities €92k
Equity
€77k ▼ 37.9%
Debt
€15k ▼ 20.6%
Debt's share of the balance-sheet total rises from 13.3% to 16.4%. Equity and debt are lower.
Key figures and ratios
EBITDA
€40k▼
2024 · €65k
Cash flow
€-41k▼
2024 · €22k
Current ratio
5.62▼
2024 · 6.97
Debt to equity
0.20▲
2024 · 0.15
ROE
-61.0%▼
2024 · 14.1%
ROA
-51.0%▼
2024 · 12.3%
Interest coverage
0.48▼
2024 · 1.79
Debt ≤ 1 year
€15k▼
2024 · €19k
Income taxes
€373▼
2024 · €10k
Staff costs
€16k▲
2024 · €13k
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 · 40 lines
Balance sheet
Code20242025
Assets
Total assets20/58€142k€92k▼
Fixed assets21/28€10k€7k▼
Tangible fixed assets22/27€10k€7k▼
Plant, machinery and equipment23€10k€7k▼
Financial fixed assets28€124€124=
Current assets29/58€132k€85k▼
Amounts receivable within one year40/41€81k€47k▼
Other amounts receivable41€81k€47k▼
Cash at bank and in hand54/58€17k€8k▼
Deferred charges and accrued income490/1€34k€30k▼
Equity and liabilities
Total equity and liabilities10/49€142k€92k▼
Equity10/15€123k€77k▼
Contributions10/11€19k€19k=
Reserves13€2k€2k=
Non-distributable reserves130/1€2k-
Reserves not available under the articles1311€2k-
Distributable reserves133-€2k
Profit (loss) carried forward14€103k€56k▼
Amounts payable17/49€19k€15k▼
Amounts payable within one year42/48€19k€15k▼
Trade debts44€4k€3k▼
Suppliers440/4€4k€3k▼
Taxes, remuneration and social security45€15k€12k▼
Taxes450/3€12k€10k▼
Remuneration and social security454/9€2k€3k▲
Income statement
Code20242025
Remuneration, social security and pensions62€13k€16k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€5k€5k▲
Other operating charges640/8€641€1k▲
Gross operating margin9900€79k€57k▼
Operating profit (loss)9901€60k€35k▼
Financial income75/76B€4k€3k▼
Recurring financial income75€4k€3k▼
Financial charges65/66B€37k€84k▲
Recurring financial charges65€37k€84k▲
Profit (loss) for the period before taxes9903€28k€-46k▼
Income taxes67/77€10k€373▼
Profit (loss) for the period9904€17k€-47k▼
Profit (loss) for the period to be appropriated9905€17k€-47k▼
Appropriation of the result
Profit (loss) to be appropriated9906€103k€56k▼
Profit (loss) brought forward from the previous period14P€85k€103k▲
The notes to these accounts (9 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 | €2k | €8k | €17k | €13k | €16k | ▲ 17.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €12k | €8k | €6k | €5k | €5k | ▲ 7.1% |
| Other operating charges640/8 | €633 | €537 | €476 | €641 | €1k | ▲ 74.6% |
| Gross operating margin9900 | €47k | €82k | €42k | €79k | €57k | ▼ 28.6% |
| Operating profit (loss)9901 | €32k | €65k | €19k | €60k | €35k | ▼ 42.8% |
| Financial income75/76B | €5k | €13k | €3k | €4k | €3k | ▼ 33.3% |
| Recurring financial income75 | €2k | €1k | €3k | €4k | €3k | ▼ 33.3% |
| Non-recurring financial income76B | €2k | €12k | - | - | - | - |
| Financial charges65/66B | €2k | €59k | €3k | €37k | €84k | ▲ 129% |
| Recurring financial charges65 | €2k | €59k | €3k | €37k | €84k | ▲ 129% |
| Profit (loss) for the period before taxes9903 | €35k | €19k | €18k | €28k | €-46k | ▼ 266% |
| Income taxes67/77 | €12k | €7k | €5k | €10k | €373 | ▼ 96.4% |
| Profit (loss) for the period9904 | €23k | €12k | €13k | €17k | €-47k | ▼ 368% |
| Profit (loss) for the period to be appropriated9905 | €23k | €12k | €13k | €17k | €-47k | ▼ 368% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €135k | €124k | €125k | €142k | €92k | ▼ 35.6% |
| Fixed assets21/28 | €22k | €15k | €11k | €10k | €7k | ▼ 31.2% |
| Tangible fixed assets22/27 | €22k | €15k | €11k | €10k | €7k | ▼ 31.6% |
| Plant, machinery and equipment23 | €18k | €15k | €11k | €10k | €7k | ▼ 31.6% |
| Furniture and vehicles24 | €4k | - | - | - | - | - |
| Leasing and similar rights25 | €68 | - | - | - | - | - |
| Financial fixed assets28 | €124 | €124 | €124 | €124 | €124 | = |
| Current assets29/58 | €113k | €109k | €113k | €132k | €85k | ▼ 35.9% |
| Amounts receivable within one year40/41 | €70k | €61k | €76k | €81k | €47k | ▼ 42.2% |
| Other amounts receivable41 | €70k | €61k | €76k | €81k | €47k | ▼ 42.2% |
| Cash at bank and in hand54/58 | €14k | €11k | €5k | €17k | €8k | ▼ 55.2% |
| Deferred charges and accrued income490/1 | €29k | €37k | €32k | €34k | €30k | ▼ 11.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €135k | €124k | €125k | €142k | €92k | ▼ 35.6% |
| Equity10/15 | €81k | €93k | €106k | €123k | €77k | ▼ 37.9% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Capital10 | €19k | €19k | €19k | - | - | - |
| Issued capital100 | €19k | €19k | €19k | - | - | - |
| Reserves13 | €2k | €2k | €2k | €2k | €2k | = |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €2k | - | - |
| Legal reserve130 | €2k | €2k | €2k | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €2k | - | - |
| Distributable reserves133 | - | - | - | - | €2k | - |
| Profit (loss) carried forward14 | €60k | €72k | €85k | €103k | €56k | ▼ 45.4% |
| Amounts payable17/49 | €54k | €31k | €19k | €19k | €15k | ▼ 20.6% |
| Amounts payable within one year42/48 | €54k | €31k | €19k | €19k | €15k | ▼ 20.6% |
| Financial debts43 | €7k | - | - | - | - | - |
| Credit institutions430/8 | €7k | - | - | - | - | - |
| Trade debts44 | €4k | €12k | €6k | €4k | €3k | ▼ 31.8% |
| Suppliers440/4 | €4k | €12k | €6k | €4k | €3k | ▼ 31.8% |
| Taxes, remuneration and social security45 | €43k | €20k | €13k | €15k | €12k | ▼ 17.4% |
| Taxes450/3 | €43k | €19k | €9k | €12k | €10k | ▼ 23.5% |
| Remuneration and social security454/9 | €399 | €908 | €3k | €2k | €3k | ▲ 15.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €23k | €12k | €13k | €17k | €-47k | ▼ 368% |
| + Depreciation and write-downs630 | €12k | €8k | €6k | €5k | €5k | ▲ 7.1% |
| Operating cash flow (approximation) | €35k | €20k | €19k | €22k | €-41k | ▼ 283% |
| Investment in fixed assets (approximation) | - | €-475 | €-2k | €-4k | €-2k | ▲ 38.7% |
| Change in cash | - | €-3k | €-6k | €12k | €-9k | ▼ 178% |
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
03-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet €-47k
Net result drops to €-47k, the lowest in the series.
24-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
24-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Equity above €100kEq €106k ▲14.4%
6 profitable years in a row build equity to €106k.
25-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 25 days late
2022
24-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 24 days late
2021
27-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 27 days late
2020
26-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 87 days late
2019
31-12
Financial
Highest result since 2018net €55k ▲24.7%
Operating result €84k, net result €55k, both a record.
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 31 days late
2017
25-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 25 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Ukkel · 1 establishment unit since 2002
Ground area
381 m²
Building footprint
325 m²
Volume, LiDAR
4,588 m³
Parcel 21016B0244/00P005, Brussels · tallest building 26.8 m, ±7 floors. Linked by address, not a title deed.
9
companies at this address
See who is registered here
1 establishment unit
Brugmannlaan 345, 1180 Ukkel
since 20022.131.426.926
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21016B0244/00P005 | Brussels | 381 m² | 1 · 325 m² | 26.8 m · 7 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
2549007V8WK7WZUJAV65
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Of 1,435 companies in sector 47791 we hold annual accounts for 456. 341 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
Founded27-03-2000
Fiscal year end31-12
Activities, NACEBEL 2025
47791Retail sale of antiques
86230Dental practice
46900Non-specialised wholesale trade
47512Retail sale of household textiles and bedding
Scores and ratios are computed by Checked and are not a credit decision.