Summary
MADEGRO is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2024 annual accounts show equity of €571,102 and a net result of €13,884. Equity remains stable across the filed fiscal years (±0.7% per year). Its solvency ranks better than 92% of 9872 sector peers (fiscal year 2024). The company has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 28-10-2025, 89 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 · 9 filingsDeviation from the deadline
2025
not confirmed
2024
89 d late
2023
on the day
2022
31 d late
2021
31 d late
2020
31 d late
2019
52 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 39 days after the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€571,102▲ 2.5%
2023 · €557,218
Net result
€13,884▲ 120%
2023 · €6,320
Total assets
€609,095▼ 22.2%
2023 · €783,359
Solvency
93.8%▲ 22.6pp
2023 · 71.1%
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€16,830▼ 39.6%€2,186▼ 87.0%-€26,668€5,513€11,787▲ 114%
Net result€13,361within the sector's middle half▼ 42.7%€2,660below the sector's middle half▼ 80.1%-€25,033below the sector's middle half€6,320within the sector's middle half€13,884within the sector's middle half▲ 120%
Equity€573,271above the sector's middle half▲ 2.4%€575,931above the sector's middle half▲ 0.5%€550,899above the sector's middle half▼ 4.3%€557,218above the sector's middle half▲ 1.1%€571,102above the sector's middle half▲ 2.5%
Total assets€652,478within the sector's middle half▲ 5.8%€658,519within the sector's middle half▲ 0.9%€688,866within the sector's middle half▲ 4.6%€783,359within the sector's middle half▲ 13.7%€609,095within the sector's middle half▼ 22.2%
Debt€79,207▲ 39.9%€82,588▲ 4.3%€137,968▲ 67.1%€226,141▲ 63.9%€37,992▼ 83.2%
Working capital€273,249above the sector's middle half▲ 25.8%€311,075above the sector's middle half▲ 13.8%€308,933above the sector's middle half▼ 0.7%€330,648above the sector's middle half▲ 7.0%€360,390above the sector's middle half▲ 9.0%
Solvency87.9%above the sector's middle half▼ 3.0pp87.5%above the sector's middle half▼ 0.4pp80.0%above the sector's middle half▼ 7.5pp71.1%within the sector's middle half▼ 8.8pp93.8%above the sector's middle half▲ 22.6pp
Current ratio4.46above the sector's middle half▼ 0.444.85above the sector's middle half▲ 0.393.25within the sector's middle half▼ 1.602.46within the sector's middle half▼ 0.7811.17above the sector's middle half▲ 8.70
Return on assets (ROA)2.0%within the sector's middle half▼ 1.7pp0.4%below the sector's middle half▼ 1.6pp-3.6%below the sector's middle half▼ 4.0pp0.8%below the sector's middle half▲ 4.4pp2.3%within the sector's middle half▲ 1.5pp
above
within
below
the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 114% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €609,095
Fixed assets
€213,262 ▼ 6.0%
Current assets
€395,833 ▼ 28.9%
Equity and liabilities €609,095
Equity
€571,102 ▲ 2.5%
Debt
€37,992 ▼ 83.2%
Debt's share of the balance-sheet total falls from 28.9% to 6.2%. Equity is higher and debt is lower.
Key figures and ratios
ROE
2.4%▲
2023 · 1.1%
Debt ≤ 1 year
€35,443▼
2023 · €225,767
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €43,459 | €42,616 | €24,125 | €15,474 | €13,683 | ▼ 11.6% |
| Other operating charges640/8 | - | €4,186 | €4,315 | €4,848 | €4,948 | ▲ 2.1% |
| Gross operating margin9900 | €64,082 | €48,988 | €1,773 | €25,836 | €30,418 | ▲ 17.7% |
| Operating profit (loss)9901 | €16,830 | €2,186 | -€26,668 | €5,513 | €11,787 | ▲ 114% |
| Financial income75/76B | - | €1,250 | €1,767 | €1,244 | €4,355 | ▲ 250% |
| Recurring financial income75 | €1,493 | €1,250 | €1,767 | €1,244 | €4,355 | ▲ 250% |
| Financial charges65/66B | - | €112 | €144 | €437 | €2,258 | ▲ 417% |
| Recurring financial charges65 | €183 | €112 | €144 | €437 | €2,258 | ▲ 417% |
| Profit (loss) for the period before taxes9903 | €18,140 | €3,324 | -€25,044 | €6,320 | €13,884 | ▲ 120% |
| Income taxes67/77 | €4,779 | €663 | -€11 | - | - | - |
| Profit (loss) for the period9904 | €13,361 | €2,660 | -€25,033 | €6,320 | €13,884 | ▲ 120% |
| Profit (loss) for the period to be appropriated9905 | €13,361 | €2,660 | -€25,033 | €6,320 | €13,884 | ▲ 120% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €652,478 | €658,519 | €688,866 | €783,359 | €609,095 | ▼ 22.2% |
| Fixed assets21/28 | €300,160 | €266,544 | €242,419 | €226,945 | €213,262 | ▼ 6.0% |
| Tangible fixed assets22/27 | €299,974 | €266,358 | €242,233 | €226,759 | €213,076 | ▼ 6.0% |
| Land and buildings22 | - | €266,358 | €242,233 | €226,759 | €213,076 | ▼ 6.0% |
| Financial fixed assets28 | €186 | €186 | €186 | €186 | €186 | = |
| Current assets29/58 | €352,317 | €391,975 | €446,447 | €556,415 | €395,833 | ▼ 28.9% |
| Amounts receivable within one year40/41 | €273,025 | €311,296 | €340,063 | €367,802 | €175,959 | ▼ 52.2% |
| Trade receivables40 | - | €261,429 | €287,301 | €334,239 | €25,872 | ▼ 92.3% |
| Other amounts receivable41 | - | €49,867 | €52,762 | €33,564 | €150,087 | ▲ 347% |
| Current investments50/53 | €19,010 | €19,010 | €19,010 | €69,010 | €199,010 | ▲ 188% |
| Cash at bank and in hand54/58 | €59,637 | €60,980 | €86,611 | €118,799 | €20,864 | ▼ 82.4% |
| Deferred charges and accrued income490/1 | - | €688 | €763 | €803 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €652,478 | €658,519 | €688,866 | €783,359 | €609,095 | ▼ 22.2% |
| Equity10/15 | €573,271 | €575,931 | €550,899 | €557,218 | €571,102 | ▲ 2.5% |
| Contributions10/11 | - | €412,515 | €412,515 | €412,515 | €412,515 | = |
| Reserves13 | €160,756 | €163,416 | €138,383 | €144,703 | €158,587 | ▲ 9.6% |
| Non-distributable reserves130/1 | - | €14,714 | €14,714 | €14,714 | €14,714 | = |
| Reserves not available under the articles1311 | - | €14,714 | €14,714 | €14,714 | €14,714 | = |
| Distributable reserves133 | - | €148,702 | €123,669 | €129,989 | €143,873 | ▲ 10.7% |
| Amounts payable17/49 | €79,207 | €82,588 | €137,968 | €226,141 | €37,992 | ▼ 83.2% |
| Amounts payable within one year42/48 | €79,069 | €80,900 | €137,514 | €225,767 | €35,443 | ▼ 84.3% |
| Trade debts44 | €51,815 | €69,316 | €130,407 | €189,895 | €8,997 | ▼ 95.3% |
| Suppliers440/4 | - | €69,316 | €130,407 | €189,895 | €8,997 | ▼ 95.3% |
| Taxes, remuneration and social security45 | - | €5,279 | €632 | €1,292 | - | - |
| Taxes450/3 | - | €5,279 | €632 | €1,292 | - | - |
| Other amounts payable47/48 | - | €6,305 | €6,476 | €34,580 | €26,446 | ▼ 23.5% |
| Accrued charges and deferred income492/3 | - | €1,688 | €453 | €374 | €2,549 | ▲ 581% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €13,361 | €2,660 | -€25,033 | €6,320 | €13,884 | ▲ 120% |
| + Depreciation and write-downs630 | €43,459 | €42,616 | €24,125 | €15,474 | €13,683 | ▼ 11.6% |
| Operating cash flow (approximation) | €56,820 | €45,276 | -€907 | €21,794 | €27,567 | ▲ 26.5% |
| Investment in fixed assets (approximation) | - | -€9,000 | €0 | €0 | €0 | - |
| Change in cash | - | €1,343 | €25,631 | €32,188 | -€97,935 | ▼ 404% |
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
2025
28-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 89 days late
2024
31-12
Financial
Liquidity times 5current ratio 11.17
Current ratio from 2.46 to 11.17; short-term debt falls from €225,767 to €35,443.
31-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €6,320
Net result €6,320 after one loss-making year.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
31-12
Financial
Weakest financial yearnet -€25,033
Net result drops to -€25,033, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
21-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 52 days late
2019
31-12
Financial
Highest result since 2018net €23,318 ▲38%
Operating result €27,845, net result €23,318, both a record.
30-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 61 days late
2018
22-10
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 83 days late
2017
10-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 10 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Mechelen · 1 establishment unit since 2016
Ground area
129 m²
Building footprint
88 m²
Volume, LiDAR
1,039 m³
Parcel 12404F0621/00S002, Flanders · tallest building 21.9 m, ±5 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
MADEGRO
since 20162.257.579.780
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12404F0621/00S002 | Flanders | 129 m² | 1 · 88 m² | 21.9 m · 5 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 24,729 companies in sector 64210 we hold annual accounts for 19,799. 13,530 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded26-08-2016
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
68110Buying and selling of own real estate
68201Renting and operating of own or leased residential real estate, excluding social housing
68202Real estate activities
68321Property management for co-owned buildings (syndics)
Contact
E-mail
j.degroote@entecomsystems.euMechelen
E-invoicing
Reachable via Peppol
Peppol ID
0208:0661732020
Registered
05-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.