MADATIMA
ActiveFinancials · financial year 2025, abbreviated format
2025 annual accounts filed 71 days after the deadline Filed on 10 July 2026, deadline 30 April 2026 (7 months after the close on 30 September 2025, Companies Code art. 3:10). Source: NBB, 2026-00277649.
Annual accounts 2025 filed on 10-07-2026 at the NBB all 2 filings
Equity
-€3,809
2024 · €9,256
Total assets
€290,785▲ 9.5%
2024 · €265,453
Net result
-€13,065▲ 17.0%
2024 · -€15,744
Working capital
-€185,708▼ 57.4%
2024 · -€118,008
Multi-year overview
2024 to 2025, 2 financial yearsOperating result
-€4,696
▲ 38.9%
2025
20242025
Net result
-€13,065
▲ 17.0%
2025
lowest quarter of the sector
20242025
Equity
-€3,809
2025
lowest quarter of the sector
20242025
Total assets
€290,785
▲ 9.5%
2025
middle half of the sector
20242025
Debt
€294,594
▲ 15.0%
2025
20242025
Working capital
-€185,708
▼ 57.4%
2025
lowest quarter of the sector
20242025
Solvency
-1.3%
▼ 4.8pp
2025
lowest quarter of the sector
20242025
Current ratio
0.01
=
2025
lowest quarter of the sector
20242025
Return on assets (ROA)
-4.5%
▲ 1.4pp
2025
lowest quarter of the sector
20242025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20242025
Operating result-€7,689--€4,696▲ 38.9%
Net result-€15,744below the sector's middle half--€13,065below the sector's middle half▲ 17.0%
Equity€9,256below the sector's middle half--€3,809below the sector's middle half
Total assets€265,453below the sector's middle half-€290,785within the sector's middle half▲ 9.5%
Debt€256,196-€294,594▲ 15.0%
Working capital-€118,008below the sector's middle half--€185,708below the sector's middle half▼ 57.4%
Solvency3.5%below the sector's middle half--1.3%below the sector's middle half▼ 4.8pp
Current ratio0.01below the sector's middle half-0.01below the sector's middle half=
Return on assets (ROA)-5.9%below the sector's middle half--4.5%below the sector's middle half▲ 1.4pp
above
within
below
The sector band is the middle half of the companies in Sports, amusement and recreation activities (NACE 93). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a loss of €4,696, smaller than the loss of €7,689 in 2024.
Turnover and EBIT margin are not published. The abbreviated format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €290,785
Fixed assets
€289,578 ▲ 9.4%
Current assets
€1,207 ▲ 38.0%
Equity and liabilities
Equity-€3,809
Debt€294,594
Equity is negative. Debt (€294,594) exceeds the balance-sheet total (€290,785).
Key figures and ratios
Debt ≤ 1 year
€186,914▲
2024 · €118,882
Debt > 1 year
€107,226▼
2024 · €136,739
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-09-2024 | 30-09-2025 |
|---|---|---|
| Financial fixed assets | €264,578 | €25,000 |
Source: notes to the 2024 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Other operating charges640/8 | €400 | €878 | ▲ 119% |
| Gross operating margin9900 | -€7,289 | -€3,818 | ▲ 47.6% |
| Operating profit (loss)9901 | -€7,689 | -€4,696 | ▲ 38.9% |
| Financial income75/76B | €100 | €48 | ▼ 51.8% |
| Recurring financial income75 | €100 | €48 | ▼ 51.8% |
| Financial charges65/66B | €8,154 | €8,418 | ▲ 3.2% |
| Recurring financial charges65 | €8,154 | €8,418 | ▲ 3.2% |
| Profit (loss) for the period before taxes9903 | -€15,744 | -€13,065 | ▲ 17.0% |
| Profit (loss) for the period9904 | -€15,744 | -€13,065 | ▲ 17.0% |
| Profit (loss) for the period to be appropriated9905 | -€15,744 | -€13,065 | ▲ 17.0% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €265,453 | €290,785 | ▲ 9.5% |
| Fixed assets21/28 | €264,578 | €289,578 | ▲ 9.4% |
| Financial fixed assets28 | €264,578 | €289,578 | ▲ 9.4% |
| Current assets29/58 | €874 | €1,207 | ▲ 38.0% |
| Amounts receivable within one year40/41 | €872 | €1,155 | ▲ 32.4% |
| Other amounts receivable41 | €872 | €1,155 | ▲ 32.4% |
| Cash at bank and in hand54/58 | €2 | €52 | ▲ 28× |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €265,453 | €290,785 | ▲ 9.5% |
| Equity10/15 | €9,256 | -€3,809 | - |
| Contributions10/11 | €25,000 | €25,000 | = |
| Profit (loss) carried forward14 | -€15,744 | -€28,809 | ▼ 83.0% |
| Amounts payable17/49 | €256,196 | €294,594 | ▲ 15.0% |
| Amounts payable after more than one year17 | €136,739 | €107,226 | ▼ 21.6% |
| Financial debts170/4 | €136,739 | €107,226 | ▼ 21.6% |
| Amounts payable within one year42/48 | €118,882 | €186,914 | ▲ 57.2% |
| Current portion of amounts payable after more than one year42 | €40,762 | €50,043 | ▲ 22.8% |
| Financial debts43 | €325 | €0 | ▼ 100% |
| Credit institutions430/8 | €325 | €0 | ▼ 100% |
| Trade debts44 | €26,997 | €27,416 | ▲ 1.6% |
| Suppliers440/4 | €26,997 | €27,416 | ▲ 1.6% |
| Other amounts payable47/48 | €50,797 | €109,455 | ▲ 115% |
| Accrued charges and deferred income492/3 | €575 | €454 | ▼ 21.2% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | -€15,744 | -€13,065 | ▲ 17.0% |
| Operating cash flow (approximation) | -€15,744 | -€13,065 | ▲ 17.0% |
| Investment in fixed assets (approximation) | - | -€25,000 | - |
| Change in cash | - | €50 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.