MADE
Annual accounts 2025
abbreviated format, filed on 15-12-2025, 47 days before the deadlineTurnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €2.0m. Estimated: probably between €1.4m and €3.3m.
Money flows
no detail for 2025Balance sheet
balance sheet total €675,289 on 30-06-2025in euro
in euro
Staff
€84,427
Staff costs divided by the average number of full-time equivalents.
-1 person
In 2025, nobody joined and 1 person left. Training hours in 2025: 2.
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||||||||
20/58 |
675,289 | 1.3m | 1.3m | 2.2m | 2.3m | 1.9m | 1.9m | 1.8m | 742,795 | 574,980 | 402,332 | 223,353 | 91,427 | 86,305 | 61,636 | 39,900 | |
21/28 |
19,780 | 29,526 | 44,978 | 1.0m | 1.1m | 1.1m | 1.2m | 1.1m | 115,063 | 18,090 | 21,790 | 26,159 | 28,388 | 23,923 | 13,283 | 12,499 | |
21 |
- | - | 253 | 2,123 | 3,993 | - | - | - | 742 | 1,485 | - | 435 | 1,945 | 2,151 | - | - | |
22/27 |
13,784 | 23,530 | 38,728 | 994,917 | 1.0m | 1.1m | 1.2m | 1.1m | 33,765 | 16,549 | 21,534 | 20,164 | 22,383 | 18,617 | 10,128 | 12,499 | |
22 |
- | - | - | 946,545 | 1.0m | 1.1m | 1.1m | 1.1m | - | - | 122 | 298 | 475 | 651 | 219 | - | |
23 |
5,339 | 13,470 | 31,197 | 36,450 | 24,914 | 12,875 | 14,187 | 11,344 | 4,400 | 7,373 | 12,935 | 5,903 | 3,087 | 5,722 | 6,989 | 8,418 | |
24 |
4,073 | 5,188 | 7,531 | 11,922 | 5,473 | 14,785 | 24,983 | 25,469 | 29,365 | 9,176 | 8,477 | 13,963 | 18,821 | 12,244 | 2,921 | 4,081 | |
26 |
4,372 | 4,872 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
28 |
5,996 | 5,996 | 5,996 | 16,071 | 13,591 | 601 | 1,500 | 56 | 80,556 | 56 | 256 | 5,560 | 4,060 | 3,155 | 3,155 | - | |
29/58 |
655,509 | 1.3m | 1.2m | 1.2m | 1.3m | 816,017 | 759,107 | 667,220 | 627,732 | 556,890 | 380,542 | 197,194 | 63,039 | 62,382 | 48,353 | 27,401 | |
29 |
- | - | 131,679 | 126,543 | 134,700 | 93,229 | - | - | - | - | - | - | - | - | - | - | |
290 |
- | - | - | - | - | 93,229 | - | - | - | - | - | - | - | - | - | - | |
291 |
- | - | 131,679 | 126,543 | 134,700 | - | - | - | - | - | - | - | - | - | - | - | |
40/41 |
529,855 | 1.2m | 915,574 | 755,415 | 1.0m | 397,222 | 529,030 | 460,286 | 396,054 | 385,195 | 225,355 | 162,202 | 63,011 | 59,170 | 45,006 | 15,952 | |
40 |
114,768 | 826,489 | 914,147 | 754,350 | 1.0m | 392,993 | 519,905 | 446,361 | 396,051 | 383,673 | 225,355 | 162,202 | 60,699 | 57,080 | 44,491 | 12,949 | |
41 |
415,087 | 376,632 | 1,428 | 1,065 | 137 | 4,229 | 9,125 | 13,925 | 3 | 1,522 | - | - | 2,312 | 2,090 | 516 | 3,002 | |
54/58 |
104,468 | 49,600 | 126,571 | 282,957 | 102,952 | 325,566 | 230,077 | 206,485 | 231,678 | 171,696 | 155,187 | 34,992 | 27 | 3,212 | 3,347 | 8,450 | |
490/1 |
21,186 | 15,842 | 57,615 | 18,741 | 12,010 | - | - | 450 | - | - | - | - | - | - | - | 3,000 | |
| Balance sheet: equity and liabilities | |||||||||||||||||
10/49 |
675,289 | 1.3m | 1.3m | 2.2m | 2.3m | 1.9m | 1.9m | 1.8m | 742,795 | 574,980 | 402,332 | 223,353 | 91,427 | 86,305 | 61,636 | 39,900 | |
10/15 |
90,246 | 134,714 | 625,607 | 744,481 | 752,124 | 630,287 | 599,957 | 505,710 | 518,991 | 378,311 | 177,505 | 71,222 | 8,962 | 4,165 | 1,352 | 6,705 | |
10/11 |
4,883 | 4,883 | 4,883 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | |
100 |
- | - | - | - | - | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | - | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | |
11 |
- | 4,883 | 4,883 | 6,200 | 6,200 | - | - | - | - | - | - | - | - | - | - | - | |
1109/19 |
- | 4,883 | 4,883 | 6,200 | 6,200 | - | - | - | - | - | - | - | - | - | - | - | |
13 |
207,662 | 207,662 | 620,724 | 738,281 | 743,660 | 511,860 | 481,860 | 391,860 | 371,860 | 371,860 | 1,860 | 1,860 | 1,860 | 505 | 505 | 505 | |
130/1 |
- | 1,465 | 1,465 | 1,860 | 1,860 | 1,860 | - | - | - | - | - | - | - | - | - | - | |
130 |
- | - | - | - | - | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 505 | 505 | 505 | |
1311 |
- | 1,465 | 1,465 | 1,860 | 1,860 | - | - | - | - | - | - | - | - | - | - | - | |
133 |
207,662 | 206,197 | 619,259 | 736,421 | 741,800 | 510,000 | 480,000 | 390,000 | 370,000 | 370,000 | - | - | - | - | - | - | |
14 |
-122,299 | -77,831 | - | - | 2,264 | 112,227 | 111,897 | 107,650 | 140,931 | 251 | 169,445 | 63,162 | 902 | -2,540 | -5,353 | - | |
17/49 |
585,043 | 1.2m | 650,810 | 1.5m | 1.6m | 1.3m | 1.3m | 1.2m | 223,804 | 196,669 | 224,826 | 152,131 | 82,465 | 82,140 | 60,285 | 33,195 | |
17 |
- | - | - | 785,027 | 857,866 | 948,688 | 971,126 | 901,783 | 15,737 | 1,309 | 3,024 | 5,524 | 12,498 | 10,785 | - | 605 | |
170/4 |
- | - | - | 783,583 | 856,422 | 942,836 | 971,126 | 901,783 | 15,737 | 1,309 | 3,024 | 5,524 | 12,498 | 10,785 | - | 605 | |
178/9 |
- | - | - | 1,444 | 1,444 | 5,852 | - | - | - | - | - | - | - | - | - | - | |
42/48 |
510,475 | 765,297 | 650,810 | 667,260 | 511,920 | 309,726 | 327,581 | 347,856 | 208,067 | 195,361 | 221,802 | 146,607 | 69,967 | 71,355 | 60,285 | 32,590 | |
42 |
- | 75,889 | 103,615 | 120,815 | 96,294 | 99,887 | 76,870 | 130,700 | 77,384 | 7,184 | 8,441 | 6,974 | 8,135 | 4,760 | 605 | 5,497 | |
43 |
200,000 | 200,000 | - | - | - | - | - | - | - | - | - | - | 3,897 | - | - | - | |
430/8 |
200,000 | 200,000 | - | - | - | - | - | - | - | - | - | - | 3,897 | - | - | - | |
44 |
78,382 | 305,231 | 265,224 | 224,607 | 124,424 | 54,524 | 43,789 | 113,389 | 16,357 | 63,918 | 68,936 | 63,944 | 29,316 | 30,828 | 26,762 | 7,849 | |
440/4 |
78,382 | 305,231 | 265,224 | 224,607 | 124,424 | 54,524 | 43,789 | 113,389 | 16,357 | 63,918 | 68,936 | 63,944 | 29,316 | 30,828 | 26,762 | 7,849 | |
46 |
- | - | - | - | - | 4,493 | 4,203 | - | - | - | - | - | - | - | 2,500 | - | |
45 |
232,093 | 184,177 | 281,971 | 320,515 | 287,012 | 145,548 | 193,312 | 97,170 | 105,971 | 109,275 | 103,045 | 52,165 | 23,918 | 15,126 | 3,963 | 2,043 | |
450/3 |
120,789 | 17,482 | 59,611 | 61,718 | 141,811 | 85,949 | 156,350 | 55,502 | 87,963 | 99,869 | 98,772 | 52,165 | 11,531 | 7,004 | 3,780 | 626 | |
454/9 |
111,304 | 166,695 | 222,359 | 258,797 | 145,201 | 59,599 | 36,963 | 41,668 | 18,008 | 9,406 | 4,274 | - | 12,387 | 8,123 | 183 | 1,417 | |
47/48 |
- | - | - | 1,324 | 4,189 | 5,273 | 9,407 | 6,597 | 8,355 | 14,984 | 41,380 | 23,525 | 4,701 | 20,640 | 26,456 | 17,201 | |
492/3 |
74,568 | 398,077 | - | - | 189,509 | 29,830 | 16,122 | - | - | - | - | - | - | - | - | - | |
| Income statement | |||||||||||||||||
70 |
- | - | - | - | - | - | - | - | - | - | - | - | - | 237,592 | 142,073 | - | |
76A |
- | - | - | 897 | 3,336 | 1,208 | 1,803 | - | 1,405 | - | - | - | - | - | - | 5,475 | |
9900 |
1.2m | 1.3m | 1.9m | 1.9m | 1.6m | 1.1m | 910,510 | 549,572 | 534,715 | 473,686 | 363,366 | 215,881 | 84,700 | 54,959 | 13,803 | 13,982 | |
60/61 |
- | - | - | - | - | - | - | - | - | - | - | - | - | 196,880 | 133,478 | - | |
62 |
1.2m | 1.7m | 1.7m | 1.8m | 1.3m | 923,784 | 634,933 | 485,994 | 335,506 | 218,479 | 151,274 | 105,257 | 56,546 | 36,622 | 7,244 | - | |
630 |
12,439 | 20,685 | 60,700 | 87,997 | 88,784 | 88,066 | 83,461 | 65,842 | 18,034 | 15,762 | 13,195 | 9,629 | 11,573 | 11,779 | 8,850 | 11,131 | |
631/4 |
16,362 | - | 25,538 | -7,146 | - | - | 7,146 | 7,146 | - | - | 14,592 | - | - | - | - | - | |
640/8 |
- | 9,885 | 7,816 | 8,449 | 8,355 | 6,988 | 8,546 | 9,527 | 8,640 | 4,775 | 3,299 | 4,247 | 5,150 | 2,363 | 1,788 | 1 | |
66A |
- | 7,610 | - | - | - | - | - | - | - | - | - | - | 438 | - | - | - | |
9901 |
-31,849 | -471,749 | 108,727 | 38,984 | 225,788 | 64,503 | 176,423 | -18,937 | 172,534 | 234,670 | 181,006 | 96,748 | 11,431 | 4,194 | -4,079 | 2,850 | |
75/76B |
11,382 | 61 | 2,043 | 2,000 | 3,172 | 9,969 | 2,560 | 48,594 | 33,787 | 53,247 | 16,144 | 32 | 2,626 | 2,553 | 16 | 1,074 | |
75 |
11,382 | 61 | 2,043 | 2,000 | 3,172 | 8,761 | 757 | 48,594 | 33,787 | 53,247 | 16,144 | 32 | 2,626 | 2,553 | 16 | 1,074 | |
76B |
- | - | - | - | - | 1,208 | 1,803 | - | - | - | - | - | - | - | - | - | |
65/66B |
22,501 | 14,902 | 20,025 | 27,372 | 31,936 | 22,340 | 18,212 | 6,971 | 1,563 | 1,739 | 1,094 | 1,343 | 3,862 | 1,274 | 1,202 | 1,018 | |
65 |
22,501 | 14,902 | 20,025 | 27,372 | 31,936 | 22,340 | 18,212 | 6,971 | 1,563 | 1,739 | 1,094 | 1,343 | 3,862 | 1,274 | 1,202 | 1,018 | |
9903 |
-42,968 | -486,589 | 90,745 | 13,612 | 197,023 | 52,132 | 160,771 | 22,686 | 204,759 | 286,179 | 196,056 | 95,437 | 9,757 | 5,474 | -5,264 | 8,381 | |
67/77 |
1,500 | 4,303 | 33,508 | 19,364 | 69,201 | 21,802 | 58,990 | 3,000 | 64,079 | 85,373 | 59,773 | 33,177 | 4,960 | 2,660 | 89 | 1,876 | |
9904 |
-44,468 | -490,893 | 57,238 | -5,753 | 127,822 | 30,329 | 101,781 | 19,686 | 140,680 | 200,805 | 136,283 | 62,260 | 4,797 | 2,813 | -5,353 | 6,505 | |
9905 |
-44,468 | -490,893 | 57,238 | -5,753 | 127,822 | 30,329 | 101,781 | 19,686 | 140,680 | 200,805 | 136,283 | 62,260 | 4,797 | 2,813 | -5,353 | 6,505 | |
| Appropriation of the result | |||||||||||||||||
9906 |
-122,299 | -490,893 | 57,238 | -3,488 | 240,049 | 142,227 | 209,430 | 160,617 | 140,931 | 370,251 | 199,445 | 63,162 | 2,257 | -2,540 | -5,353 | 6,505 | |
14P |
-77,831 | - | - | 2,264 | - | - | - | - | - | - | - | - | - | - | - | - | |
791/2 |
- | 413,062 | - | 5,379 | - | - | - | - | - | - | - | - | - | - | - | - | |
691/2 |
- | - | 57,238 | - | 231,800 | 30,000 | 90,000 | 20,000 | - | 370,000 | - | - | 1,355 | - | - | 505 | |
6920 |
- | - | - | - | - | - | - | - | - | - | - | - | 1,355 | - | - | 505 | |
6921 |
- | - | 57,238 | - | 231,800 | 30,000 | 90,000 | 20,000 | - | 370,000 | - | - | - | - | - | - | |
694/7 |
- | - | - | 1,891 | 5,984 | - | 7,533 | 32,967 | - | - | 30,000 | - | - | - | - | 6,000 | |
694 |
- | - | - | 1,891 | 5,984 | - | 7,533 | 32,967 | - | - | - | - | - | - | - | - | |
695 |
- | - | - | - | - | - | - | - | - | - | 30,000 | - | - | - | - | 6,000 | |
| Social balance sheet | |||||||||||||||||
9087 |
13.8 | 14.9 | 22.9 | 23.8 | 18.6 | 15.7 | 12.1 | 9.4 | 5.9 | 5.3 | 3.6 | 2.8 | 1.5 | 1.4 | 0.1 | - | |
Hours worked1013 |
20,942 | 31,439 | 38,297 | 39,631 | 32,915 | 25,853 | 21,394 | 16,142 | 5,031 | 9,077 | 6,222 | 4,769 | 2,657 | 2,120 | 84 | - | |
| Document | |||||||||||||||||
The notes to these accounts have 7 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 15-12-2025.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | abbreviated format | 15-12-2025 | 2025-00581572 | |
| 30-06-2024 | abbreviated format | 31-01-2025 | 2025-00024648 | |
| 30-06-2023 | abbreviated format | 04-01-2024 | 2024-00543942 | |
| 30-06-2022 | abbreviated format | 02-01-2023 | 2023-20554420 | |
| 30-06-2021 | abbreviated format | 31-01-2022 | 2022-04100474 | |
| 30-06-2020 | abbreviated format | 24-02-2021 | 2021-06100148 | |
| 30-06-2019 | abbreviated format | 15-01-2020 | 2020-01400047 | |
| 30-06-2018 | abbreviated format | 28-02-2019 | 2019-06300054 | |
| 30-06-2017 | abbreviated format | 29-12-2017 | 2017-73600052 | |
| 30-06-2016 | abbreviated format | 27-01-2017 | 2017-02900031 | |
| 30-06-2015 | abbreviated format | 15-01-2016 | 2016-02000339 | |
| 30-06-2014 | abbreviated format | 14-01-2015 | 2015-01300393 | |
| 30-06-2013 | abbreviated format | 28-01-2014 | 2014-01500041 | |
| 30-06-2012 | abbreviated format | 04-01-2013 | 2013-00100429 | |
| 30-06-2011 | abbreviated format | 26-01-2012 | 2012-01400369 | |
| 30-06-2010 | abbreviated format | 23-12-2010 | 2010-64300102 |
Subsidies and aid
Flemish government 2022 to 2024, 3 entries, €5,169 awarded, €5,085 paid
| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2024 | 1 | €0 | €84 |
| 2023 | 1 | €1,197 | €1,380 |
| 2022 | 1 | €3,972 | €3,621 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -19,410 | -451,064 | 169,426 | 126,981 | 314,572 | 152,569 | 259,885 | 46,905 | 190,568 | 250,432 | 194,201 | 106,377 | 23,003 | 15,974 | 4,771 | 13,981 | ||
| -32,029 | -470,208 | 117,937 | 82,245 | 216,606 | 118,396 | 185,242 | 85,528 | 158,714 | 216,568 | 149,478 | 71,890 | 16,370 | 14,593 | 3,497 | 17,636 | ||
| 2,693 | 8,712 | 14,996 | 46,048 | 44,641 | 35,799 | 149,569 | 1.1m | 115,008 | 12,262 | 14,130 | 7,400 | 17,798 | 22,420 | 9,634 | 22,555 | ||
| 54,868 | -76,971 | -156,386 | 180,005 | -222,614 | 95,489 | 23,592 | -25,193 | 59,982 | 16,508 | 120,195 | 34,965 | -3,185 | -135 | -5,103 | - | ||
| 145,034 | 503,265 | 580,629 | 516,396 | 741,129 | 506,291 | 431,526 | 319,364 | 419,665 | 361,530 | 158,740 | 50,587 | -6,929 | -8,973 | -11,931 | -5,189 | ||
| - | - | - | - | - | - | - | - | - | - | - | - | - | 1.8% | -2.9% | - | ||
| 13.4% | 10.4% | 49.0% | 33.9% | 32.5% | 32.9% | 31.3% | 28.8% | 69.9% | 65.8% | 44.1% | 31.9% | 9.8% | 4.8% | 2.2% | 16.8% | ||
| 1.28 | 1.66 | 1.89 | 1.77 | 2.45 | 2.63 | 2.32 | 1.92 | 3.02 | 2.85 | 1.72 | 1.35 | 0.90 | 0.87 | 0.80 | 0.84 | ||
| 6.48 | 8.64 | 1.04 | 1.95 | 2.07 | 2.04 | 2.19 | 2.47 | 0.43 | 0.52 | 1.27 | 2.14 | 9.20 | 19.72 | 44.60 | 4.95 | ||
| -49.3% | -364.4% | 9.1% | -0.8% | 17.0% | 4.8% | 17.0% | 3.9% | 27.1% | 53.1% | 76.8% | 87.4% | 53.5% | 67.5% | -396.0% | 97.0% | ||
| -6.6% | -37.8% | 4.5% | -0.3% | 5.5% | 1.6% | 5.3% | 1.1% | 18.9% | 34.9% | 33.9% | 27.9% | 5.2% | 3.3% | -8.7% | 16.3% | ||
| -0.86 | -30.27 | 8.46 | 4.64 | - | - | - | - | - | - | - | - | - | - | - | - | ||
| - | - | - | - | - | - | - | - | - | - | - | - | - | 88 days | 114 days | - | ||
| - | - | - | - | - | - | - | - | - | - | - | - | - | 57 days | 73 days | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Social balance sheet
| Item | 30-06-2025 | 30-06-2024 | 30-06-2023 | 30-06-2022 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 15 | 16 | 25 | 24 |
| full-time | 9 | 12 | 21 | 23 |
| part-time | 6 | 4 | 4 | 1 |
| in full-time equivalents | 13.1 | 14.9 | 24 | 23.8 |
| 13.8 | 14.9 | 22.9 | 23.3 | |
| On a permanent contract | 15 | 16 | 25 | 24 |
| Joined | 0 | 0 | - | 16 |
| Left | 1 | 9 | - | 16 |
| Training hours | 2 | - | - | - |
Source: social balance sheet in the 2022 to 2025 annual accounts
Investments
fixed assets acquired| Item | 30-06-2025 | 30-06-2024 | 30-06-2023 | 30-06-2022 |
|---|---|---|---|---|
| Tangible fixed assets | €2,693 | €8,712 | €14,996 | €40,258 |
| Financial fixed assets | - | - | - | €5,790 |
| €12,439 | €20,685 | €60,700 | €87,997 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Public contracts
Source: TED (Tenders Electronic Daily), Publications Office of the European Union. The values are as the buyer published them. For a framework agreement, the value is a ceiling.
Insights on MADE
The operating result for 2025 is a loss of €31,849, smaller than the loss of €471,749 in 2024.
Debt's share of the balance-sheet total falls from 89.6% to 86.6%. Equity and debt are lower.