MADEFRU
ActiveMADEFRU has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €351k and a net result of €63k. Equity is growing by ~12.2% per year across the filed fiscal years. Its solvency ranks better than 15% of 1729 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
59
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability72=
Solvency37▼-1
Growth52=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €20k at 30 days acceptable
Liquidity tight (current ratio 1.08 against 1.13 in 2024; short-term debt: 79% and cash: 2.2% of total assets), and 87.8% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 01
Relative position
BE, all sectors
reference
Sector 01
lower
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
12.2%
Return on assets
2.2%
Age of the figures
12 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 15% of 1729 sector peers (2025).
NBB · sector comparisonPosition among 1729 sector peers
Solvency
better than 15%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 28-04-2026, 2 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
2 d early
2024
2 d early
2022
13 d early
2021
29 d late
2020
118 d late
2019
64 d late
2018
29 d late
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
19-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€351k▲ 22.0%
2024 · €287k
2018: €157k
2019: €162k
2020: €176k
2021: €190k
2022: €226k
2024: €287k
2018 → 2025
Total assets
€2.87M▲ 34.4%
2024 · €2.13M
2018: €977k
2019: €1.15M
2020: €1.34M
2021: €1.62M
2022: €1.37M
2024: €2.13M
2018 → 2025
Net result
€63k▲ 3.2%
2024 · €61k
2018: €70k
2019: €5k
2020: €14k
2021: €14k
2022: €36k
2024: €61k
2018 → 2025
Working capital
€184k▼ 7.8%
2024 · €199k
2018: €10k
2019: €-50k
2020: €-115k
2021: €-64k
2022: €-25k
2024: €199k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220242025Trend
Equity€176k-€190k▲ 7.9%€226k▲ 18.7%€287k▲ 27.1%€351k▲ 22.0%
Operating result€49k-€31k▼ 37.3%€49k▲ 59.1%€111k▲ 126%€90k▼ 18.9%
Net result€14k-€14k▼ 2.8%€36k▲ 154%€61k▲ 72.1%€63k▲ 3.2%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 19% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.87M
Fixed assets
€418k▲ 9.0%
Current assets
€2.45M▲ 40.0%
Equity and liabilities €2.87M
Equity
€351k▲ 22.0%
Debt
€2.52M▲ 36.4%
The debt ratio rises from 86.5% to 87.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€206k▼
2024 · €280k
Cash flow
€179k▼
2024 · €230k
Solvency
12.2%▼
2024 · 13.5%
Current ratio
1.08▼
2024 · 1.13
Quick ratio
1.07▼
2024 · 1.12
Debt / equity
7.18▲
2024 · 6.43
ROE
18.0%▼
2024 · 21.3%
ROA
2.2%▼
2024 · 2.9%
Interest coverage
34.09▲
2024 · 24.35
Debt
€2.52M▲
2024 · €1.85M
Debt ≤ 1 year
€2.27M▲
2024 · €1.55M
Debt > 1 year
€50k▼
2024 · €79k
Income taxes
€34k▼
2024 · €40k
Staff costs
€723k▼
2024 · €1.40M
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€2.13M€2.87M▲
Fixed assets21/28€383k€418k▲
Tangible fixed assets22/27€383k€418k▲
Plant, machinery and equipment23€332k€331k▼
Furniture and vehicles24€40k€66k▲
Other tangible fixed assets26€11k€21k▲
Current assets29/58€1.75M€2.45M▲
Stocks and contracts in progress3€10k€35k▲
Stocks30/36€10k€10k▼
Contracts in progress37-€25k
Amounts receivable within one year40/41€1.28M€1.84M▲
Trade receivables40€529k€1.43M▲
Other amounts receivable41€752k€405k▼
Current investments50/53€55€300k▲
Cash at bank and in hand54/58€243k€63k▼
Deferred charges and accrued income490/1€217k€217k▲
Equity and liabilities
Total equity and liabilities10/49€2.13M€2.87M▲
Equity10/15€287k€351k▲
Contributions10/11€19k€19k=
Reserves13€269k€332k▲
Distributable reserves133€269k€332k▲
Amounts payable17/49€1.85M€2.52M▲
Amounts payable after more than one year17€79k€50k▼
Financial debts170/4€79k€50k▼
Amounts payable within one year42/48€1.55M€2.27M▲
Current portion of amounts payable after more than one year42€29k€29k=
Trade debts44€1.11M€1.48M▲
Suppliers440/4€1.11M€1.48M▲
Taxes, remuneration and social security45€362k€482k▲
Taxes450/3€80k€139k▲
Remuneration and social security454/9€282k€343k▲
Other amounts payable47/48€50k€279k▲
Accrued charges and deferred income492/3€216k€201k▼
Income statement
Code20242025
Non-recurring operating income76A€8-
Remuneration, social security and pensions62€1.40M€723k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€169k€116k▼
Other operating charges640/8€8k€9k▲
Non-recurring operating charges66A-€2
Gross operating margin9900€1.69M€939k▼
Operating profit (loss)9901€111k€90k▼
Financial income75/76B€2k€13k▲
Recurring financial income75€2k€13k▲
Financial charges65/66B€11k€6k▼
Recurring financial charges65€11k€6k▼
Profit (loss) for the period before taxes9903€101k€97k▼
Income taxes67/77€40k€34k▼
Profit (loss) for the period9904€61k€63k▲
Profit (loss) for the period to be appropriated9905€61k€63k▲
Appropriation of the result
Profit (loss) to be appropriated9906€61k€63k▲
Transfer to equity691/2€61k€63k▲
To other reserves6921€61k€63k▲
Social balance
Average headcount (FTE)908722.318.2▼
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
28-04
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
28-04
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2023
18-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Equity above €200kEq €226k ▲18.7%
5 profitable years in a row build equity to €226k.
29-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 29 days late
2021
26-11
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 118 days late
2020
03-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 64 days late
2019
31-12
Financial
Weakest financial yearnet €5k ▼92.5%
Net result drops to €5k, the lowest in the series; recovery starts the following year.
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 29 days late
2018
28-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 28 days late
2017
28-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 28 days late
2016
27-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 27 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Herk-de-Stad · 1 establishment unit since 2003
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Popelierestraat 143540 Herk-de-StadGround area
5,124 m²
Building footprint
367 m²
Volume, LiDAR
2,007 m³
2 parcels, Flanders · tallest building 10.6 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
MADEFRU
since 20032.135.701.359
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71024C0217/00H000 | Flanders | 3,293 m² | 1 · 159 m² | 10.6 m · 2 fl. |
| 71024C0202/00E000 | Flanders | 1,831 m² | 1 · 208 m² | 9.8 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2024 · 3 entries · 24,095 EUR awarded · 24,095 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 10,053 EUR | 10,053 EUR |
| 2023 | 1 | 8,713 EUR | 8,713 EUR |
| 2022 | 1 | 5,329 EUR | 5,329 EUR |
Schemes
Brede weersverzekering
Recognitions · licences · registrations
Food safety, FASFC
1 siteHerk-de-Stad2.135.701.359
Similar companies · same sector, comparable size
RABUN.
BE 0860.802.942
Hasselt · Eq €351k
GELADE ERIC FRUIT
BE 0881.135.429
Alken · Eq €351k
Domein Lone
BE 0757.611.669
Tongeren-Borgloon · Eq €356k
Vanmeer Fruit en Landbouw
BE 0865.745.685
Gingelom · Eq €357k
MAISON DUYSENS
BE 0454.525.667
Welkenraedt · Eq €358k
Of 1,345 companies in sector 01240 we hold annual accounts for 321. 269 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded07-01-2004
Fiscal year end30-09
Activities, NACEBEL
01130Growing of vegetables, melons, roots and tubers
01240Growing of pome and stone fruits
01121
01610Support activities for crop production
01630Crop and animal production, hunting and related service activities
96999Other personal services
Sources
Crossroads Bank for EnterprisesNational Bank · 21 filingsAddress and cadastre registers
Data from official sources, last processed on 19-09-2026. Scores and ratios are computed by Checked and are not a credit decision.