Result
-€11,584 -€11,584
From profit to loss in 2025, after a profit of €46,045 in 2024.
MADEF
Lifetime
15 annual accounts with figures on one time axispeak €180,722 (2025)
€180,722▲ 65.3%
lowest -€14,196 (2011)
-€11,584▼ €57,629
peak €275,532 (2024)
€263,948▼ 4.2%
€2.0m▲ 10.7%
Board1 name since 2021
1 director
Documentsfilings and deeds
29-04-20261 day before the deadline
2025micro format
Gross margin from €109,354 to €180,722Loss of €11,584Investments €388,295
Key points
from the 2025 annual accountsTurnover
≈ €320,000 estimated
The micro format states no turnover.
Debts
€2.0m 88% of the balance sheet
Financial debts 90%Suppliers 1%Taxes and wages 0%Other 9%
Of this, €180,558 falls due within a year.
Investments
€388,295 2.0 × depreciation
Green is investment, beige is depreciation. Land and buildings stand 10.3% higher than in 2024.
Liquidity
0.84 was 1.43 in 2024
Short-term debts rose from €112,094 to €180,558.
Position in the sector
€2.3m
Larger balance sheet than 88% of companies in real estate. Sector median €447,213 · 19,817 companies.
Checked score
Bankruptcy probability within 12 months
Financial strength
Score breakdown
Comparable companies, two years later
In July 2024, 1,424 companies had the same profile as MADEF has now. Each dot stands for 4 companies, two years later.
96.5%
were still trading
2.2%
stopped another way
1.0%
went bankrupt
Another 0.4% stopped without a precise date, possibly only after those two years.
Test of the method
The method was tested on the 497,762 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 2.9% | 3.1% |
| 10 | 5.6% | 6.1% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 1,424 companies, not a prediction for MADEF. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
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Signals
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0823353222
Change of role: , from manager to director
Permanent representative: · “Les inspections,contrôles,évaluations,diagnostics,expertises,mesures,analyses concernant la fonction,la…” (deed in French) · Gazette deed
First establishment
Rue Henri-Maus 225, Liège
Incorporation
published on 05-03-2010 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| MADEF Liège | €2.3m | €180,722 | 11.7% | - |
| T & K INVEST Liège | €2.8m | €157,416 | -23.6% | 1 |
| NIEUW ARBED Ghent | €2.2m | €203,961 | 37.0% | - |
| MIJLO Roosdaal | €2.5m | €175,203 | -7.8% | - |
| SDG Project Genappe | €2.0m | €171,611 | -4.6% | 0 |
| GROUP IMMO S.M. Thuin | €2.5m | €165,266 | -4.1% | 3.5 |
| IMMO SOURCES Fernelmont | €2.4m | €240,657 | 44.3% | - |
These companies have the same main activity as MADEF: buying and selling of own real estate (NACE 68110). They are comparable in size and age: total assets between €2m and €2.8m, founded between 2009 and 2010.
Official details
Source: KBO- Status
- Active since 23-02-2010Normal situation
- Activity
- Buying and selling of own real estateNACE 68110and 3 others
- Establishment unit
- 2.189.144.6964000 Liège, since 28-06-2010
- Financial year end
- 30 September
- Peppol
- Reachable since 04-11-2025
Annual accounts to 30-09-2025
- €2.3m▲ 8.8%
- Filing
- Filed on 29-04-2026, 1 day before the end of the filing period
Insights on MADEF
MADEF files the micro format. That format states no turnover. The gross margin rose from -€1,561 in 2010 to €180,722 in 2025.
The balance sheet grew most from 2024 to 2025 through fixed assets, financed with long-term debt.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about MADEF
- What is the company number of MADEF?
- The company number of MADEF is 0823.353.222. The VAT number is the same number with BE in front: BE 0823.353.222.
- Where is MADEF based?
- The registered office is at Rue Henri-Maus 225, 4000 Liège.Company details
- What does MADEF do?
- According to the KBO register, the main activity is buying and selling of own real estate (NACE 68110).
- What is the legal form of MADEF?
- MADEF is a private limited company (BV).
- When was MADEF founded?
- MADEF was founded on 23-02-2010.
- Is MADEF still active?
- Yes, MADEF is an active enterprise in the KBO register.
- What is the turnover of MADEF?
- The turnover in financial year 2025 is ≈ €320,000. This figure is estimated from the gross margin of €180,722 and 50 comparable companies (NACE 681). It probably lies between €250,000 and €600,000.Financials
- Is MADEF profitable?
- In financial year 2025, MADEF made a loss of €11,584.
- Where can I find the annual accounts of MADEF?
- MADEF filed 15 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of MADEF due?
- MADEF must file the annual accounts for financial year 2026 by 30-04-2027.Timeline
Next steps
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