MADEC
InactiveInactive; last annual accounts for fiscal year 2020.
Signals
Two signals. The signal on the left, the evidence on the right.
○neutral
neutral · No filing for years
The last filed financial year closed on 31-12-2020. Since then, 5 financial years are missing. This points to a standstill, not an imminent failure.
NBB · 10 filingsPosition against the passed deadline
31-12-2021 close31-07-2022 deadline28-09-2026 today
neutral · Filed after the deadline
The financial year that closed on 31-12-2020 was due by 31-07-2021 and was filed on 30-08-2021, 30 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
not filed
2021
not filed
2020
30 d late
2019
31 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 2 accounts on average 31 days after 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 (1)
Financials · fiscal year 2020, micro schema
Equity
-€103,956▲ 11.8%
2019 · -€117,849
Total assets
€22,699▼ 59.1%
2019 · €55,471
Net result
€13,893
2019 · -€7,817
Working capital
-€103,956▲ 12.0%
2019 · -€118,193
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
Line201820192020
Operating result-€3,526--€6,115▼ 73.4%€14,812
Net result-€4,309--€7,817▼ 81.4%€13,893
Equity-€110,032--€117,849▼ 7.1%-€103,956▲ 11.8%
Total assets€117,594-€55,471▼ 52.8%€22,699▼ 59.1%
Debt€227,626-€173,320▼ 23.9%€126,655▼ 26.9%
Working capital-€116,881--€118,193▼ 1.1%-€103,956▲ 12.0%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2020: €14,812 after a loss of €6,115 in 2019, the highest result in the available series.
Key figures and ratios
Solvency
-458.0%▼
2019 · -212.5%
Current ratio
0.18▼
2019 · 0.32
ROA
61.2%▲
2019 · -14.1%
Debt ≤ 1 year
€126,655▼
2019 · €173,320
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €391 | €344 | - | - |
| Gross operating margin9900 | -€1,552 | €45 | €15,613 | ▲ 34,797% |
| Operating profit (loss)9901 | -€3,526 | -€6,115 | €14,812 | ▲ 342% |
| Recurring financial income75 | €345 | €16 | - | - |
| Recurring financial charges65 | €1,108 | €1,715 | €919 | ▼ 46.4% |
| Profit (loss) for the period before taxes9903 | -€4,289 | -€7,814 | €13,893 | ▲ 278% |
| Income taxes67/77 | €19 | €2 | - | - |
| Profit (loss) for the period9904 | -€4,309 | -€7,817 | €13,893 | ▲ 278% |
| Profit (loss) for the period to be appropriated9905 | -€4,309 | -€7,817 | €13,893 | ▲ 278% |
| Line | 2018 | 2019 | 2020 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €117,594 | €55,471 | €22,699 | ▼ 59.1% |
| Fixed assets21/28 | €6,849 | €344 | - | - |
| Tangible fixed assets22/27 | €688 | €344 | - | - |
| Financial fixed assets28 | €6,161 | - | - | - |
| Current assets29/58 | €110,745 | €55,127 | €22,699 | ▼ 58.8% |
| Amounts receivable within one year40/41 | €67,565 | €54,081 | €21,691 | ▼ 59.9% |
| Cash at bank and in hand54/58 | €43,180 | €1,046 | €1,008 | ▼ 3.6% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €117,594 | €55,471 | €22,699 | ▼ 59.1% |
| Equity10/15 | -€110,032 | -€117,849 | -€103,956 | ▲ 11.8% |
| Contributions10/11 | €18,600 | €18,600 | - | - |
| Reserves13 | €9,473 | €9,473 | €9,473 | = |
| Profit (loss) carried forward14 | -€138,106 | -€145,922 | -€132,029 | ▲ 9.5% |
| Amounts payable17/49 | €227,626 | €173,320 | €126,655 | ▼ 26.9% |
| Amounts payable within one year42/48 | €227,626 | €173,320 | €126,655 | ▼ 26.9% |
| Trade debts44 | €18,477 | €25,732 | - | - |
| Line | 2018 | 2019 | 2020 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | -€4,309 | -€7,817 | €13,893 | ▲ 278% |
| + Depreciation and write-downs630 | €391 | €344 | - | - |
| Operating cash flow (approximation) | -€3,917 | -€7,473 | €13,893 | ▲ 286% |
| Investment in fixed assets (approximation) | - | €6,161 | - | - |
| Change in cash | - | -€42,134 | -€38 | ▲ 99.9% |
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
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
2020
31-12
Financial
Back to profitnet €13,893
Net result €13,893 after 2 loss-making years.
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 31 days late
2019
31-12
Financial
Weakest financial yearnet -€7,817
Net result drops to -€7,817, the lowest in the series.
11-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 72 days late
2018
28-11
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 120 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 31 days late
2016
31-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 31 days late
2015
31-10
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
2014
24-10
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema
2013
31-10
NBB filing
Annual accounts filed
fiscal year 2013 · abbreviated schema
2012
17-10
NBB filing
Annual accounts filed
fiscal year 2012 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 8 acts read
About the unread acts
We know of 8 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
Owners and holdings
1 ownerChain of control
- RENDAPLUS
- MADEC
Highest known parent: RENDAPLUS. The sources do not say who stands above it.
Owners 1
- RENDAPLUSparentSourceaccounts RENDAPLUS 2021100%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts 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.