MADE
InactiveInactive; last annual accounts for fiscal year 2025.
Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
19202122232425
2019 to 2025 · latest year -€44,468
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 15-12-2025, 47 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
47 d early
2024
on the day
2023
27 d early
2022
29 d early
2021
on the day
2020
24 d late
2019
16 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 14 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close28-09-2026 today31-01-2027 deadline
Go further with this company
Who ran this company, and where was it based, on a date before the end?Company as of a date Which other companies belong to the same group?Techyard · 10 companies
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, abbreviated schema
Equity
€90,246▼ 33.0%
2024 · €134,714
Total assets
€675,289▼ 48.0%
2024 · €1.3m
Net result
-€44,468▲ 90.9%
2024 · -€490,893
Working capital
€145,034▼ 71.2%
2024 · €503,265
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€225,788▲ 250%€38,984▼ 82.7%€108,727▲ 179%-€471,749-€31,849▲ 93.2%
Net result€127,822▲ 321%-€5,753€57,238-€490,893-€44,468▲ 90.9%
Equity€752,124▲ 19.3%€744,481▼ 1.0%€625,607▼ 16.0%€134,714▼ 78.5%€90,246▼ 33.0%
Total assets€2.3m▲ 20.5%€2.2m▼ 5.0%€1.3m▼ 41.9%€1.3m▲ 1.7%€675,289▼ 48.0%
Debt€1.6m▲ 21.0%€1.5m▼ 6.9%€650,810▼ 55.2%€1.2m▲ 78.8%€585,043▼ 49.7%
Working capital€741,129▲ 46.4%€516,396▼ 30.3%€580,629▲ 12.4%€503,265▼ 13.3%€145,034▼ 71.2%
Staff (FTE)18.6▲ 18.5%23.8▲ 28.0%22.9▼ 3.8%14.9▼ 34.9%13.8▼ 7.4%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €31,849 in 2025 against €471,749 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €675,289
Fixed assets
€19,780 ▼ 33.0%
Current assets
€655,509 ▼ 48.3%
Equity and liabilities €675,289
Equity
€90,246 ▼ 33.0%
Debt
€585,043 ▼ 49.7%
Debt's share of the balance-sheet total falls from 89.6% to 86.6%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€19,410▲
2024 · -€451,064
Cash flow
-€32,029▲
2024 · -€470,208
Current ratio
1.28▼
2024 · 1.66
Debt to equity
6.48▼
2024 · 8.64
ROE
-49.3%▲
2024 · -364.4%
ROA
-6.6%▲
2024 · -37.8%
Interest coverage
-0.86▲
2024 · -30.27
Debt ≤ 1 year
€510,475▼
2024 · €765,297
Income taxes
€1,500▼
2024 · €4,303
Staff costs
€1.2m▼
2024 · €1.7m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €897 | - | - | - | - |
| Remuneration, social security and pensions62 | - | €1.8m | €1.7m | €1.7m | €1.2m | ▼ 32.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €88,784 | €87,997 | €60,700 | €20,685 | €12,439 | ▼ 39.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | -€7,146 | €25,538 | - | €16,362 | - |
| Other operating charges640/8 | - | €8,449 | €7,816 | €9,885 | - | - |
| Non-recurring operating charges66A | - | - | - | €7,610 | - | - |
| Gross operating margin9900 | €1.6m | €1.9m | €1.9m | €1.3m | €1.2m | ▼ 10.7% |
| Operating profit (loss)9901 | €225,788 | €38,984 | €108,727 | -€471,749 | -€31,849 | ▲ 93.2% |
| Financial income75/76B | - | €2,000 | €2,043 | €61 | €11,382 | ▲ 18,519% |
| Recurring financial income75 | €3,172 | €2,000 | €2,043 | €61 | €11,382 | ▲ 18,519% |
| Financial charges65/66B | - | €27,372 | €20,025 | €14,902 | €22,501 | ▲ 51.0% |
| Recurring financial charges65 | €31,936 | €27,372 | €20,025 | €14,902 | €22,501 | ▲ 51.0% |
| Profit (loss) for the period before taxes9903 | €197,023 | €13,612 | €90,745 | -€486,589 | -€42,968 | ▲ 91.2% |
| Income taxes67/77 | €69,201 | €19,364 | €33,508 | €4,303 | €1,500 | ▼ 65.1% |
| Profit (loss) for the period9904 | €127,822 | -€5,753 | €57,238 | -€490,893 | -€44,468 | ▲ 90.9% |
| Profit (loss) for the period to be appropriated9905 | €127,822 | -€5,753 | €57,238 | -€490,893 | -€44,468 | ▲ 90.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.3m | €2.2m | €1.3m | €1.3m | €675,289 | ▼ 48.0% |
| Fixed assets21/28 | €1.1m | €1.0m | €44,978 | €29,526 | €19,780 | ▼ 33.0% |
| Intangible fixed assets21 | €3,993 | €2,123 | €253 | - | - | - |
| Tangible fixed assets22/27 | €1.0m | €994,917 | €38,728 | €23,530 | €13,784 | ▼ 41.4% |
| Land and buildings22 | - | €946,545 | - | - | - | - |
| Plant, machinery and equipment23 | - | €36,450 | €31,197 | €13,470 | €5,339 | ▼ 60.4% |
| Furniture and vehicles24 | - | €11,922 | €7,531 | €5,188 | €4,073 | ▼ 21.5% |
| Other tangible fixed assets26 | - | - | - | €4,872 | €4,372 | ▼ 10.3% |
| Financial fixed assets28 | €13,591 | €16,071 | €5,996 | €5,996 | €5,996 | = |
| Current assets29/58 | €1.3m | €1.2m | €1.2m | €1.3m | €655,509 | ▼ 48.3% |
| Amounts receivable after more than one year29 | - | €126,543 | €131,679 | - | - | - |
| Other amounts receivable291 | - | €126,543 | €131,679 | - | - | - |
| Amounts receivable within one year40/41 | €1.0m | €755,415 | €915,574 | €1.2m | €529,855 | ▼ 56.0% |
| Trade receivables40 | - | €754,350 | €914,147 | €826,489 | €114,768 | ▼ 86.1% |
| Other amounts receivable41 | - | €1,065 | €1,428 | €376,632 | €415,087 | ▲ 10.2% |
| Cash at bank and in hand54/58 | €102,952 | €282,957 | €126,571 | €49,600 | €104,468 | ▲ 111% |
| Deferred charges and accrued income490/1 | - | €18,741 | €57,615 | €15,842 | €21,186 | ▲ 33.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.3m | €2.2m | €1.3m | €1.3m | €675,289 | ▼ 48.0% |
| Equity10/15 | €752,124 | €744,481 | €625,607 | €134,714 | €90,246 | ▼ 33.0% |
| Contributions10/11 | - | €6,200 | €4,883 | €4,883 | €4,883 | = |
| Outside capital11 | - | €6,200 | €4,883 | €4,883 | - | - |
| Other1109/19 | - | €6,200 | €4,883 | €4,883 | - | - |
| Reserves13 | €743,660 | €738,281 | €620,724 | €207,662 | €207,662 | = |
| Non-distributable reserves130/1 | - | €1,860 | €1,465 | €1,465 | - | - |
| Reserves not available under the articles1311 | - | €1,860 | €1,465 | €1,465 | - | - |
| Distributable reserves133 | - | €736,421 | €619,259 | €206,197 | €207,662 | ▲ 0.7% |
| Profit (loss) carried forward14 | €2,264 | - | - | -€77,831 | -€122,299 | ▼ 57.1% |
| Amounts payable17/49 | €1.6m | €1.5m | €650,810 | €1.2m | €585,043 | ▼ 49.7% |
| Amounts payable after more than one year17 | €857,866 | €785,027 | - | - | - | - |
| Financial debts170/4 | - | €783,583 | - | - | - | - |
| Other amounts payable178/9 | - | €1,444 | - | - | - | - |
| Amounts payable within one year42/48 | €511,920 | €667,260 | €650,810 | €765,297 | €510,475 | ▼ 33.3% |
| Current portion of amounts payable after more than one year42 | - | €120,815 | €103,615 | €75,889 | - | - |
| Financial debts43 | - | - | - | €200,000 | €200,000 | = |
| Credit institutions430/8 | - | - | - | €200,000 | €200,000 | = |
| Trade debts44 | €124,424 | €224,607 | €265,224 | €305,231 | €78,382 | ▼ 74.3% |
| Suppliers440/4 | - | €224,607 | €265,224 | €305,231 | €78,382 | ▼ 74.3% |
| Taxes, remuneration and social security45 | - | €320,515 | €281,971 | €184,177 | €232,093 | ▲ 26.0% |
| Taxes450/3 | - | €61,718 | €59,611 | €17,482 | €120,789 | ▲ 591% |
| Remuneration and social security454/9 | - | €258,797 | €222,359 | €166,695 | €111,304 | ▼ 33.2% |
| Other amounts payable47/48 | - | €1,324 | - | - | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €398,077 | €74,568 | ▼ 81.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €127,822 | -€5,753 | €57,238 | -€490,893 | -€44,468 | ▲ 90.9% |
| + Depreciation and write-downs630 | €88,784 | €87,997 | €60,700 | €20,685 | €12,439 | ▼ 39.9% |
| Operating cash flow (approximation) | €216,606 | €82,245 | €117,937 | -€470,208 | -€32,029 | ▲ 93.2% |
| Investment in fixed assets (approximation) | - | -€42,738 | €907,434 | -€5,234 | -€2,693 | ▲ 48.6% |
| Change in cash | - | €180,005 | -€156,386 | -€76,971 | €54,868 | ▲ 171% |
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
2025
15-12
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
31-01
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
30-06
Financial
Weakest financial yearnet -€490,893
Net result drops to -€490,893, the lowest in the series.
04-01
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-06
Financial
Back to profitnet €57,238
Net result €57,238 after one loss-making year.
02-01
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-01
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-06
Financial
Highest result since 2019net €127,822 ▲321%
Operating result €225,788, net result €127,822, both a record.
24-02
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 24 days late
2020
15-01
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
28-02
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 28 days late
2017
29-12
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
27-01
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 12 acts read
About the unread acts
We know of 12 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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Structure & network
Part of the group
Techyard
10 companies
Group, risk and exposure
Owners and holdings
1 owner · 1 holdingChain of control
Highest known parent: Techyard. The sources do not say who stands above it.
Owners 1
- Made by Craftzingparent100%
Holdings 1
-
25%
According to the annual accounts to 30-06-2024 of MADE and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Public money · subsidies and aid
Flemish government
2022 to 2024 · 3 entries · 5,169 EUR awarded · 5,085 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 0 EUR | 84 EUR |
| 2023 | 1 | 1,197 EUR | 1,380 EUR |
| 2022 | 1 | 3,972 EUR | 3,621 EUR |