MADELCHRI
ActiveSummary
The computed 12-month bankruptcy probability of MADELCHRI is 1.8% (moderate). The 2025 annual accounts show equity of €57,757 and a net result of €6,915. Equity is growing by ~13.3% per year across the filed fiscal years. Its solvency ranks better than 62% of 28254 sector peers (fiscal year 2025). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability77▲+8
Solvency83▲+9
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
1.8%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €4,000 at 30 days acceptable
Liquidity ample (current ratio 2.08 against 1.68 in 2024; short-term debt: 34.1% and cash: 39.4% of total assets), and 41.7% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
58.3%
Return on assets
7%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 20-08-2026, 20 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 · 7 filingsDeviation from the deadline
2025
20 d late
2024
19 d late
2023
19 d late
2022
12 d early
2021
11 d early
2020
2 d early
2019
3 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 4 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 19 August (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€57,757▲ 13.6%
2024 · €50,843
Total assets
€99,051▼ 3.6%
2024 · €102,750
Net result
€6,915
2024 · -€113
Working capital
€36,420▲ 66.1%
2024 · €21,933
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction activities, 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
Line20212022202320242025
Operating result€9,080▼ 26.1%€12,068▲ 32.9%€9,132▼ 24.3%-€1,372€12,339
Net result€6,689within the sector's middle half▼ 7.9%€7,421within the sector's middle half▲ 11.0%€4,427within the sector's middle half▼ 40.3%-€113below the sector's middle half€6,915within the sector's middle half
Equity€39,107within the sector's middle half▲ 20.6%€46,528within the sector's middle half▲ 19.0%€50,955within the sector's middle half▲ 9.5%€50,843within the sector's middle half▼ 0.2%€57,757within the sector's middle half▲ 13.6%
Total assets€89,560within the sector's middle half▼ 11.0%€174,556within the sector's middle half▲ 94.9%€133,134within the sector's middle half▼ 23.7%€102,750within the sector's middle half▼ 22.8%€99,051within the sector's middle half▼ 3.6%
Debt€50,453▼ 26.1%€103,028▲ 104%€82,179▼ 20.2%€51,908▼ 36.8%€41,294▼ 20.4%
Working capital€30,378within the sector's middle half▲ 91.0%€33,427within the sector's middle half▲ 10.0%€17,824within the sector's middle half▼ 46.7%€21,933within the sector's middle half▲ 23.1%€36,420within the sector's middle half▲ 66.1%
Solvency43.7%within the sector's middle half▲ 11.5pp26.7%within the sector's middle half▼ 17.0pp38.3%within the sector's middle half▲ 11.6pp49.5%within the sector's middle half▲ 11.2pp58.3%within the sector's middle half▲ 8.8pp
Current ratio2.04within the sector's middle half▲ 0.581.70within the sector's middle half▼ 0.331.40within the sector's middle half▼ 0.301.68within the sector's middle half▲ 0.282.08within the sector's middle half▲ 0.40
Return on assets (ROA)7.5%within the sector's middle half▲ 0.3pp4.3%within the sector's middle half▼ 3.2pp3.3%within the sector's middle half▼ 0.9pp-0.1%below the sector's middle half▼ 3.4pp7.0%within the sector's middle half▲ 7.1pp
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, 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
The operating result returns to profit in 2025: €12,339 after a loss of €1,372 in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €99,051
Fixed assets
€28,849 ▼ 40.6%
Current assets
€70,202 ▲ 29.5%
Equity and liabilities €99,051
Equity
€57,757 ▲ 13.6%
Debt
€41,294 ▼ 20.4%
Debt's share of the balance-sheet total falls from 50.5% to 41.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€34,719▲
2024 · €21,146
Cash flow
€29,294▲
2024 · €22,406
Quick ratio
1.76▲
2024 · 1.39
Debt to equity
0.71▼
2024 · 1.02
ROE
12.0%▲
2024 · -0.2%
Interest coverage
81.79▲
2024 · 43.10
Debt ≤ 1 year
€33,781▲
2024 · €32,290
Debt > 1 year
€7,091▼
2024 · €19,191
Income taxes
€5,000▲
2024 · -€1,750
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,970 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.5%
went bankrupt
3.4%
stopped otherwise
95%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.8% 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 497,662 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% | 1.7% |
| 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 75% 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 26,970 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.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €16,482 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €19,903 | €12,561 | €22,518 | €22,518 | €22,380 | ▼ 0.6% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | €25,000 | - | - | - | - |
| Other operating charges640/8 | €264 | €833 | €1,020 | €1,302 | €607 | ▼ 53.3% |
| Gross operating margin9900 | €29,247 | €50,462 | €32,670 | €22,448 | €35,326 | ▲ 57.4% |
| Operating profit (loss)9901 | €9,080 | €12,068 | €9,132 | -€1,372 | €12,339 | ▲ 999% |
| Financial income75/76B | €235 | €192 | €314 | - | - | - |
| Recurring financial income75 | €235 | €192 | €314 | - | - | - |
| Financial charges65/66B | €577 | €640 | €1,030 | €491 | €424 | ▼ 13.5% |
| Recurring financial charges65 | €577 | €640 | €1,030 | €491 | €424 | ▼ 13.5% |
| Profit (loss) for the period before taxes9903 | €8,738 | €11,619 | €8,416 | -€1,863 | €11,915 | ▲ 740% |
| Income taxes67/77 | €2,049 | €4,198 | €3,989 | -€1,750 | €5,000 | ▲ 386% |
| Profit (loss) for the period9904 | €6,689 | €7,421 | €4,427 | -€113 | €6,915 | ▲ 6,238% |
| Profit (loss) for the period to be appropriated9905 | €6,689 | €7,421 | €4,427 | -€113 | €6,915 | ▲ 6,238% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €89,560 | €174,556 | €133,134 | €102,750 | €99,051 | ▼ 3.6% |
| Fixed assets21/28 | €29,855 | €93,564 | €71,046 | €48,528 | €28,849 | ▼ 40.6% |
| Intangible fixed assets21 | - | - | €0 | €0 | €0 | - |
| Tangible fixed assets22/27 | €29,855 | €93,564 | €71,046 | €48,528 | €28,849 | ▼ 40.6% |
| Plant, machinery and equipment23 | €475 | €3,093 | €2,314 | €1,534 | €754 | ▼ 50.8% |
| Furniture and vehicles24 | €29,380 | €90,471 | €68,732 | €46,994 | €28,095 | ▼ 40.2% |
| Current assets29/58 | €59,706 | €80,992 | €62,088 | €54,223 | €70,202 | ▲ 29.5% |
| Stocks and contracts in progress3 | €5,429 | €5,496 | €13,537 | €9,252 | €10,870 | ▲ 17.5% |
| Stocks30/36 | €5,429 | €5,496 | €6,287 | €5,502 | €6,370 | ▲ 15.8% |
| Contracts in progress37 | - | - | €7,250 | €3,750 | €4,500 | ▲ 20.0% |
| Amounts receivable within one year40/41 | €12,353 | €7,012 | €8,401 | €14,420 | €20,337 | ▲ 41.0% |
| Trade receivables40 | €4,547 | €5,190 | €6,318 | €13,398 | €13,948 | ▲ 4.1% |
| Other amounts receivable41 | €7,806 | €1,821 | €2,083 | €1,023 | €6,389 | ▲ 525% |
| Cash at bank and in hand54/58 | €41,924 | €68,484 | €40,150 | €30,551 | €38,995 | ▲ 27.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €89,560 | €174,556 | €133,134 | €102,750 | €99,051 | ▼ 3.6% |
| Equity10/15 | €39,107 | €46,528 | €50,955 | €50,843 | €57,757 | ▲ 13.6% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Profit (loss) carried forward14 | €20,507 | €27,928 | €32,355 | €32,243 | €39,157 | ▲ 21.4% |
| Provisions and deferred taxes16 | - | €25,000 | - | - | - | - |
| Provisions for liabilities and charges160/5 | - | €25,000 | - | - | - | - |
| Other liabilities and charges164/5 | - | €25,000 | - | - | - | - |
| Amounts payable17/49 | €50,453 | €103,028 | €82,179 | €51,908 | €41,294 | ▼ 20.4% |
| Amounts payable after more than one year17 | €21,126 | €55,462 | €37,486 | €19,191 | €7,091 | ▼ 63.1% |
| Financial debts170/4 | €21,126 | €55,462 | €37,486 | €19,191 | €7,091 | ▼ 63.1% |
| Amounts payable within one year42/48 | €29,327 | €47,566 | €44,264 | €32,290 | €33,781 | ▲ 4.6% |
| Current portion of amounts payable after more than one year42 | €12,119 | €20,730 | €18,154 | €18,295 | €12,100 | ▼ 33.9% |
| Financial debts43 | - | €422 | - | - | - | - |
| Credit institutions430/8 | - | €422 | - | - | - | - |
| Trade debts44 | €8,651 | €20,001 | €14,478 | €5,840 | €14,527 | ▲ 149% |
| Suppliers440/4 | €8,651 | €20,001 | €14,478 | €5,840 | €14,527 | ▲ 149% |
| Taxes, remuneration and social security45 | - | - | €3,494 | - | - | - |
| Taxes450/3 | - | - | €3,402 | - | - | - |
| Remuneration and social security454/9 | - | - | €92 | - | - | - |
| Other amounts payable47/48 | €8,557 | €6,413 | €8,138 | €8,154 | €7,154 | ▼ 12.3% |
| Accrued charges and deferred income492/3 | - | - | €428 | €427 | €421 | ▼ 1.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6,689 | €7,421 | €4,427 | -€113 | €6,915 | ▲ 6,238% |
| + Depreciation and write-downs630 | €19,903 | €12,561 | €22,518 | €22,518 | €22,380 | ▼ 0.6% |
| Operating cash flow (approximation) | €26,592 | €19,982 | €26,945 | €22,406 | €29,294 | ▲ 30.7% |
| Investment in fixed assets (approximation) | - | -€76,270 | €0 | €0 | -€2,701 | - |
| Change in cash | - | €26,560 | -€28,334 | -€9,599 | €8,444 | ▲ 188% |
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
Next filing, fiscal year 2026, expected by
2026
20-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 20 days late
2025
31-12
Financial
Back to profitnet €6,915
Net result €6,915 after one loss-making year.
19-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 19 days late
2024
31-12
Financial
Weakest financial yearnet -€113
Net result drops to -€113, the lowest in the series; recovery starts the following year.
19-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 19 days late
2023
19-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Highest result since 2019net €7,421 ▲11%
Net result €7,421, the highest in the series.
20-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
29-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
28-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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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Directors · office · real estate
Directors
3 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, Zulte · 1 establishment unit since 2019
Ground area
914 m²
Building footprint
325 m²
Volume, LiDAR
1,228 m³
Parcel 44081C0263/00L000, Flanders · tallest building 5.9 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
MADELCHRI
since 20192.283.965.067
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44081C0263/00L000 | Flanders | 914 m² | 1 · 325 m² | 5.9 m · 1 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 20,026 companies in sector 43320 we hold annual accounts for 9,139. 7,508 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
Founded14-01-2019
Fiscal year end31-12
Activities, NACEBEL 2025
43320Joinery installation
E-invoicing
Reachable via Peppol
Peppol ID
0208:0718661122
Also
9925:BE0718661122
Registered
24-11-2023
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.