MADB
ActiveMADB has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €433k and a net result of €115k. Equity remains stable across the filed fiscal years (±0.6% per year). Its solvency ranks better than 34% of 10345 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
61
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability76▼-4
Solvency48=
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25k at 30 days acceptable
Liquidity ample (current ratio 2.86 against 2.05 in 2024; short-term debt: 31.5% and cash: 2% of total assets), but 77.1% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
Sector 47
higher
← 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
22.9%
Return on assets
6.1%
Age of the figures
12 mo
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
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 28-04-2026, 2 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
2 d early
2024
15 d late
2023
31 d late
2022
26 d late
2021
2 d early
2020
on the day
2019
on the day
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
21-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€433k▼ 5.0%
2024 · €455k
2019: €414k
2020: €508k
2021: €544k
2022: €530k
2023: €595k
2024: €455k
2019 → 2025
Total assets
€1.89M▼ 3.3%
2024 · €1.95M
2019: €2.04M
2020: €2.13M
2021: €2.15M
2022: €2.12M
2023: €2.49M
2024: €1.95M
2019 → 2025
Net result
€115k▼ 35.9%
2024 · €179k
2019: €139k
2020: €94k
2021: €136k
2022: €-14k
2023: €266k
2024: €179k
2019 → 2025
Working capital
€1.11M▲ 24.9%
2024 · €889k
2019: €883k
2020: €1.09M
2021: €1.09M
2022: €1.06M
2023: €1.11M
2024: €889k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€544k-€530k▼ 2.6%€595k▲ 12.4%€455k▼ 23.5%€433k▼ 5.0%
Operating result€148k-€-41k€236k€220k▼ 6.6%€192k▼ 12.6%
Net result€136k-€-14k€266k€179k▼ 32.6%€115k▼ 35.9%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 13% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.89M
Fixed assets
€183k▼ 15.7%
Current assets
€1.71M▼ 1.8%
Equity and liabilities €1.89M
Equity
€433k▼ 5.0%
Debt
€1.46M▼ 2.8%
The debt ratio rises from 76.7% to 77.1%. Equity and debt are lower.
Key figures and ratios
EBITDA
€300k▼
2024 · €361k
Cash flow
€222k▼
2024 · €320k
Solvency
22.9%▼
2024 · 23.3%
Current ratio
2.86▲
2024 · 2.05
Quick ratio
2.09▲
2024 · 1.53
Debt / equity
3.37▲
2024 · 3.29
ROE
26.5%▼
2024 · 39.3%
ROA
6.1%▼
2024 · 9.2%
Interest coverage
6.43▼
2024 · 8.43
Debt
€1.46M▼
2024 · €1.50M
Debt ≤ 1 year
€596k▼
2024 · €849k
Debt > 1 year
€861k▲
2024 · €651k
Income taxes
€44k▼
2024 · €67k
Staff costs
€182k▲
2024 · €161k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€1.95M€1.89M▼
Fixed assets21/28€217k€183k▼
Tangible fixed assets22/27€217k€183k▼
Plant, machinery and equipment23€63k€38k▼
Other tangible fixed assets26€154k€145k▼
Current assets29/58€1.74M€1.71M▼
Stocks and contracts in progress3€443k€458k▲
Stocks30/36€443k€458k▲
Amounts receivable within one year40/41€1.05M€1.20M▲
Trade receivables40€416k€496k▲
Other amounts receivable41€634k€700k▲
Current investments50/53€75k€379▼
Cash at bank and in hand54/58€155k€37k▼
Deferred charges and accrued income490/1€15k€15k▲
Equity and liabilities
Total equity and liabilities10/49€1.95M€1.89M▼
Equity10/15€455k€433k▼
Contributions10/11€275k€275k=
Reserves13€180k€158k▼
Distributable reserves133€180k€158k▼
Amounts payable17/49€1.50M€1.46M▼
Amounts payable after more than one year17€651k€861k▲
Financial debts170/4€117k€56k▼
Trade debts175€534k€805k▲
Amounts payable within one year42/48€849k€596k▼
Current portion of amounts payable after more than one year42€154k€117k▼
Trade debts44€416k€223k▼
Suppliers440/4€416k€223k▼
Taxes, remuneration and social security45€100k€79k▼
Taxes450/3€67k€44k▼
Remuneration and social security454/9€33k€34k▲
Other amounts payable47/48€180k€178k▼
Income statement
Code20242025
Remuneration, social security and pensions62€161k€182k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€141k€107k▼
Other operating charges640/8€7k€6k▼
Gross operating margin9900€529k€488k▼
Operating profit (loss)9901€220k€192k▼
Financial income75/76B€69k€13k▼
Recurring financial income75€69k€13k▼
Financial charges65/66B€43k€47k▲
Recurring financial charges65€43k€47k▲
Profit (loss) for the period before taxes9903€246k€159k▼
Income taxes67/77€67k€44k▼
Profit (loss) for the period9904€179k€115k▼
Profit (loss) for the period to be appropriated9905€179k€115k▼
Appropriation of the result
Profit (loss) to be appropriated9906€179k€115k▼
Transfer from equity791/2€319k€138k▼
Transfer to equity691/2€179k€115k▼
To other reserves6921€179k€115k▼
Profit to be distributed694/7€319k€138k▼
Return on contributions (dividend)694€319k€138k▼
Social balance
Average headcount (FTE)90874.64.8▲
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
28-04
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
15-05
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 15 days late
2024
31-05
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 31 days late
2023
30-09
Financial
Back to profitnet €266k
Net result €266k after one loss-making year.
26-05
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 26 days late
2022
30-09
Financial
Weakest financial yearnet €-14k ▼110%
Net result drops to €-14k, the lowest in the series; recovery starts the following year.
28-04
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-04
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
30-09
Financial
Equity above €500kEq €508k ▲22.7%
2 profitable years in a row build equity to €508k.
30-04
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
5 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, Sint-Niklaas · 1 establishment unit since 2018
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
August De Boeckstraat 79100 Sint-NiklaasGround area
354 m²
Building footprint
93 m²
Volume, LiDAR
616 m³
Parcel 46445D1195/00F000, Flanders · tallest building 11.6 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Carrefour Market
since 20182.276.034.031
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46445D1195/00F000 | Flanders | 354 m² | 1 · 93 m² | 11.6 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 7 entries · 19,808 EUR awarded · 2,533 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 176 EUR | 176 EUR |
| 2024 | 1 | 382 EUR | 382 EUR |
| 2023 | 2 | 676 EUR | 676 EUR |
| 2022 | 3 | 18,574 EUR | 1,299 EUR |
Schemes
Call groene stroom (stopgezet)
Vlaamse ondersteuningspremie (VOP) voor werkgevers (uitdovend stelsel)
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Stagebonus (stopgezet)
Recognitions · licences · registrations
Food safety, FASFC
1 site · 1 with a smileySint-Niklaas2.276.034.031
Dual-learning approval
2 live approvals · 3 endedWinkelmedewerker (vwo)
Winkelmedewerker duaal (so)
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MAK RETAIL
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DELHIMA IEPER
BE 0804.571.547
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GREMA
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HOLLIM
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Of 10,525 companies in sector 47110 we hold annual accounts for 5,860. 3,341 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded13-03-2018
Fiscal year end30-09
Activities, NACEBEL
47110Non-specialised retail sale with food, beverages or tobacco predominating
47114Supermarkets
Sources
Crossroads Bank for EnterprisesNational Bank · 7 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.