MADEF
ActiveSummary
MADEF has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €263,948 and a net result of -€11,584. Equity is growing by ~13.1% per year across the filed fiscal years. Its solvency ranks better than 34% of 14220 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
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Signals
This company filed its last 7 accounts on average 22 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (2)
History
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Financials · fiscal year 2025, micro schema
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Peer companies
Historical observationOf the 1,419 companies that looked in July 2024 the way this one looks now, 0.8% went bankrupt within 24 months and 96% are still going.
- Small
- 10 to 20 years old
- solvency 10 to 30%
- a small loss
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.3% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 1,419 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
| Line | 2020 | 2021 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €30,527 | €30,549 | €53,465 | €31,056 | €196,083 | ▲ 531% |
| Other operating charges640/8 | - | €7,409 | €31,927 | €49,390 | €15,911 | ▼ 67.8% |
| Gross operating margin9900 | €58,249 | €60,661 | €131,556 | €109,354 | €180,722 | ▲ 65.3% |
| Operating profit (loss)9901 | €24,410 | €22,703 | €46,165 | €28,909 | -€31,272 | ▼ 208% |
| Financial income75/76B | - | €9 | €55,519 | €60,842 | €61,015 | ▲ 0.3% |
| Recurring financial income75 | €0 | €9 | €55,519 | €60,842 | €61,015 | ▲ 0.3% |
| Financial charges65/66B | - | €3,100 | €29,737 | €38,969 | €41,324 | ▲ 6.0% |
| Recurring financial charges65 | €3,862 | €3,100 | €29,737 | €38,969 | €41,324 | ▲ 6.0% |
| Profit (loss) for the period before taxes9903 | €20,548 | €19,612 | €71,947 | €50,782 | -€11,582 | ▼ 123% |
| Income taxes67/77 | €5,834 | €7,312 | €9,893 | €4,737 | €3 | ▼ 99.9% |
| Profit (loss) for the period9904 | €14,714 | €12,300 | €62,054 | €46,045 | -€11,584 | ▼ 125% |
| Profit (loss) for the period to be appropriated9905 | €14,714 | €12,300 | €62,054 | €46,045 | -€11,584 | ▼ 125% |
| Line | 2020 | 2021 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €684,235 | €638,908 | €1.1m | €2.1m | €2.3m | ▲ 8.8% |
| Fixed assets21/28 | €591,866 | €566,588 | €972,266 | €1.9m | €2.1m | ▲ 10.0% |
| Tangible fixed assets22/27 | €591,866 | €566,588 | €936,606 | €1.9m | €2.1m | ▲ 10.2% |
| Land and buildings22 | - | €551,119 | €926,273 | €1.9m | €2.1m | ▲ 10.3% |
| Furniture and vehicles24 | - | €15,469 | €10,333 | €6,815 | €5,851 | ▼ 14.1% |
| Financial fixed assets28 | - | - | €35,660 | €35,660 | €35,660 | = |
| Current assets29/58 | €92,369 | €72,320 | €113,039 | €160,691 | €150,856 | ▼ 6.1% |
| Amounts receivable within one year40/41 | - | - | €21,126 | €26,345 | €21,460 | ▼ 18.5% |
| Trade receivables40 | - | - | €17,160 | €21,460 | €21,460 | = |
| Other amounts receivable41 | - | - | €3,966 | €4,885 | - | - |
| Cash at bank and in hand54/58 | €91,419 | €71,845 | €35,161 | €71,493 | €66,506 | ▼ 7.0% |
| Deferred charges and accrued income490/1 | - | €475 | €56,751 | €62,852 | €62,890 | ▲ 0.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €684,235 | €638,908 | €1.1m | €2.1m | €2.3m | ▲ 8.8% |
| Equity10/15 | €155,133 | €167,433 | €229,487 | €275,532 | €263,948 | ▼ 4.2% |
| Contributions10/11 | - | €100,000 | €100,000 | €100,000 | €100,000 | = |
| Reserves13 | €45,200 | €57,473 | €119,473 | €165,473 | €165,473 | = |
| Non-distributable reserves130/1 | - | €10,000 | - | - | - | - |
| Reserves not available under the articles1311 | - | €10,000 | - | - | - | - |
| Distributable reserves133 | - | €47,473 | €119,473 | €165,473 | €165,473 | = |
| Profit (loss) carried forward14 | €9,933 | €9,960 | €10,014 | €10,059 | -€1,525 | ▼ 115% |
| Amounts payable17/49 | €529,102 | €471,475 | €855,818 | €1.8m | €2.0m | ▲ 10.7% |
| Amounts payable after more than one year17 | €215,769 | €181,706 | €677,556 | €1.7m | €1.8m | ▲ 7.2% |
| Financial debts170/4 | - | €181,706 | €677,556 | €1.7m | €1.8m | ▲ 7.2% |
| Amounts payable within one year42/48 | €306,249 | €280,276 | €154,018 | €112,094 | €180,558 | ▲ 61.1% |
| Current portion of amounts payable after more than one year42 | - | €34,063 | €27,500 | €19,107 | €94,171 | ▲ 393% |
| Trade debts44 | €28,390 | €2,157 | €42,553 | €17,552 | €18,117 | ▲ 3.2% |
| Suppliers440/4 | - | €2,157 | €42,553 | €17,552 | €18,117 | ▲ 3.2% |
| Taxes, remuneration and social security45 | - | €9,146 | €26,597 | €24,627 | €5,312 | ▼ 78.4% |
| Taxes450/3 | - | €9,146 | €26,478 | €22,331 | €5,312 | ▼ 76.2% |
| Remuneration and social security454/9 | - | - | €119 | €2,296 | - | - |
| Other amounts payable47/48 | - | €234,909 | €57,368 | €50,807 | €62,958 | ▲ 23.9% |
| Accrued charges and deferred income492/3 | - | €9,493 | €24,243 | €19,430 | €24,798 | ▲ 27.6% |
| Line | 2020 | 2021 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €14,714 | €12,300 | €62,054 | €46,045 | -€11,584 | ▼ 125% |
| + Depreciation and write-downs630 | €30,527 | €30,549 | €53,465 | €31,056 | €196,083 | ▲ 531% |
| Operating cash flow (approximation) | €45,241 | €42,849 | €115,518 | €77,100 | €184,499 | ▲ 139% |
| Investment in fixed assets (approximation) | - | -€5,272 | - | -€978,187 | -€388,295 | ▲ 60.3% |
| Change in cash | - | -€19,574 | - | €36,332 | -€4,988 | ▼ 114% |
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
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Directors · office · real estate
1 establishment unit
1 parcel
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62803D0188/00B002 | Wallonia | 699 m² | 1 · 98 m² | 9.2 m · 3 fl. |
Linked by address, not proof of ownership
Structure & network
Owners and holdings
1 holdingOwners 0
The accounts to 30-09-2025 list no shareholders, and no other source names one.
Holdings 1
- Sourceown accounts 30-09-2025Equity €838,211Result €325,73134%
According to the annual accounts to 30-09-2025 of MADEF 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.
Similar companies · same sector, comparable size
Identification & contact
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.