MADEPO
ActiveSummary
The computed 12-month bankruptcy probability of MADEPO is 2.4% (moderate). The 2025 annual accounts show equity of €70,200 and a net result of -€9,961. Equity is growing by ~14.6% per year across the filed fiscal years. Its solvency ranks better than 73% of 28281 sector peers (fiscal year 2025). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability7▼-74
Solvency94▼-6
Growth35=
Track record100
Bankruptcy probability, 12 months
2.4%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €3,500 at 30 days acceptable
Liquidity ample (current ratio 2.67 against 3.89 in 2024; short-term debt: 31.3% and cash: 18.9% of total assets), and 31.3% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
+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 →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
68.7%
Return on assets
-9.7%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 23-06-2026, 38 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
38 d early
2024
37 d early
2023
25 d early
2022
17 d early
2021
27 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 29 days before 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 4 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
€257,967▼ 14.2%
2022 · €300,810
EBIT margin
5.7%▼ 0.8pp
2022 · 6.5%
Net result
-€9,961
2024 · €10,284
Working capital
€53,563▼ 10.6%
2024 · €59,891
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
Turnover€425,599-€300,810▼ 29.3%€257,967▼ 14.2%
Operating result€28,018-€19,459▼ 30.5%€14,641▼ 24.8%€14,993▲ 2.4%-€9,657
Net result€18,418within the sector's middle half-€12,210within the sector's middle half▼ 33.7%€10,133within the sector's middle half▼ 17.0%€10,284within the sector's middle half▲ 1.5%-€9,961below the sector's middle half
EBIT margin6.6%-6.5%▼ 0.1pp5.7%▼ 0.8pp
Equity€47,534within the sector's middle half-€59,744within the sector's middle half▲ 25.7%€69,878within the sector's middle half▲ 17.0%€80,161within the sector's middle half▲ 14.7%€70,200within the sector's middle half▼ 12.4%
Total assets€127,699within the sector's middle half-€131,061within the sector's middle half▲ 2.6%€108,837within the sector's middle half▼ 17.0%€100,884within the sector's middle half▼ 7.3%€102,185within the sector's middle half▲ 1.3%
Debt€80,165-€71,317▼ 11.0%€38,960▼ 45.4%€20,723▼ 46.8%€31,985▲ 54.3%
Working capital€29,833within the sector's middle half-€33,772within the sector's middle half▲ 13.2%€49,044within the sector's middle half▲ 45.2%€59,891within the sector's middle half▲ 22.1%€53,563within the sector's middle half▼ 10.6%
Solvency37.2%within the sector's middle half-45.6%within the sector's middle half▲ 8.4pp64.2%within the sector's middle half▲ 18.6pp79.5%above the sector's middle half▲ 15.3pp68.7%within the sector's middle half▼ 10.8pp
Current ratio1.58within the sector's middle half-1.59within the sector's middle half▲ 0.012.26within the sector's middle half▲ 0.663.89above the sector's middle half▲ 1.632.67within the sector's middle half▼ 1.22
Return on assets (ROA)14.4%within the sector's middle half-9.3%within the sector's middle half▼ 5.1pp9.3%within the sector's middle half=10.2%within the sector's middle half▲ 0.9pp-9.7%below the sector's middle half▼ 19.9pp
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 turns negative in 2025: a loss of €9,657 after €14,993 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €102,185
Fixed assets
€16,638 ▼ 17.9%
Current assets
€85,547 ▲ 6.1%
Equity and liabilities €102,185
Equity
€70,200 ▼ 12.4%
Debt
€31,985 ▲ 54.3%
Debt's share of the balance-sheet total rises from 20.5% to 31.3%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€4,601▼
2024 · €20,847
Cash flow
-€4,906▼
2024 · €16,138
Quick ratio
1.69▼
2024 · 2.93
Debt to equity
0.46▲
2024 · 0.26
ROE
-14.2%▼
2024 · 12.8%
Interest coverage
-15.11▼
2024 · 56.79
Debt ≤ 1 year
€31,985▲
2024 · €20,723
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,441 companies that looked in July 2024 the way this one looks now, 2.3% went bankrupt within 24 months and 90% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a small loss
2.3%
went bankrupt
7.5%
stopped otherwise
90%
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 2.4% 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 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
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 3,441 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 |
|---|---|---|---|---|---|---|
| Turnover70 | €425,599 | €300,810 | €257,967 | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | €361,433 | €260,930 | €221,688 | €198,194 | €147,014 | ▼ 25.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €30,113 | €18,935 | €19,617 | €5,854 | €5,055 | ▼ 13.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €4,002 | -€1,089 | -€530 | €4,280 | €252 | ▼ 94.1% |
| Other operating charges640/8 | €2,034 | €1,532 | €2,551 | €2,938 | €2,449 | ▼ 16.7% |
| Non-recurring operating charges66A | - | €1,042 | - | - | - | - |
| Gross operating margin9900 | €64,167 | €39,879 | €36,279 | €28,065 | -€1,901 | ▼ 107% |
| Operating profit (loss)9901 | €28,018 | €19,459 | €14,641 | €14,993 | -€9,657 | ▼ 164% |
| Financial charges65/66B | €1,583 | €854 | €625 | €367 | €305 | ▼ 17.0% |
| Recurring financial charges65 | €1,583 | €854 | €625 | €367 | €305 | ▼ 17.0% |
| Profit (loss) for the period before taxes9903 | €26,435 | €18,604 | €14,016 | €14,626 | -€9,961 | ▼ 168% |
| Income taxes67/77 | €8,017 | €6,394 | €3,882 | €4,342 | - | - |
| Profit (loss) for the period9904 | €18,418 | €12,210 | €10,133 | €10,284 | -€9,961 | ▼ 197% |
| Profit (loss) for the period to be appropriated9905 | €18,418 | €12,210 | €10,133 | €10,284 | -€9,961 | ▼ 197% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €127,699 | €131,061 | €108,837 | €100,884 | €102,185 | ▲ 1.3% |
| Fixed assets21/28 | €46,413 | €40,450 | €20,833 | €20,270 | €16,638 | ▼ 17.9% |
| Tangible fixed assets22/27 | €46,413 | €40,450 | €20,833 | €20,270 | €16,638 | ▼ 17.9% |
| Plant, machinery and equipment23 | €10,896 | €13,647 | €11,901 | €15,208 | €12,982 | ▼ 14.6% |
| Furniture and vehicles24 | €35,517 | €26,803 | €8,933 | €5,062 | €3,656 | ▼ 27.8% |
| Current assets29/58 | €81,286 | €90,611 | €88,004 | €80,614 | €85,547 | ▲ 6.1% |
| Stocks and contracts in progress3 | €27,831 | €29,006 | €29,720 | €19,940 | €31,607 | ▲ 58.5% |
| Stocks30/36 | €27,831 | €29,006 | €29,720 | €19,940 | €31,607 | ▲ 58.5% |
| Amounts receivable within one year40/41 | €28,565 | €54,364 | €43,275 | €38,507 | €34,669 | ▼ 10.0% |
| Trade receivables40 | €20,844 | €45,647 | €37,811 | €36,531 | €27,203 | ▼ 25.5% |
| Other amounts receivable41 | €7,721 | €8,717 | €5,463 | €1,976 | €7,466 | ▲ 278% |
| Cash at bank and in hand54/58 | €22,441 | €5,921 | €15,009 | €22,168 | €19,272 | ▼ 13.1% |
| Deferred charges and accrued income490/1 | €2,449 | €1,319 | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €127,699 | €131,061 | €108,837 | €100,884 | €102,185 | ▲ 1.3% |
| Equity10/15 | €47,534 | €59,744 | €69,878 | €80,161 | €70,200 | ▼ 12.4% |
| Contributions10/11 | €29,116 | €29,116 | €29,116 | €29,116 | €29,116 | = |
| Reserves13 | €18,418 | €30,628 | €40,762 | €51,046 | €51,046 | = |
| Distributable reserves133 | €18,418 | €30,628 | €40,762 | €51,046 | €51,046 | = |
| Profit (loss) carried forward14 | - | - | - | - | -€9,961 | - |
| Amounts payable17/49 | €80,165 | €71,317 | €38,960 | €20,723 | €31,985 | ▲ 54.3% |
| Amounts payable after more than one year17 | €28,712 | €14,478 | - | - | - | - |
| Financial debts170/4 | €28,712 | €14,478 | - | - | - | - |
| Amounts payable within one year42/48 | €51,453 | €56,840 | €38,960 | €20,723 | €31,985 | ▲ 54.3% |
| Current portion of amounts payable after more than one year42 | - | €14,235 | €14,478 | - | - | - |
| Financial debts43 | €13,996 | - | - | - | - | - |
| Credit institutions430/8 | €13,996 | - | - | - | - | - |
| Trade debts44 | €10,752 | €15,154 | €12,415 | €6,028 | €22,997 | ▲ 282% |
| Suppliers440/4 | €10,752 | €15,154 | €12,415 | €6,028 | €22,997 | ▲ 282% |
| Taxes, remuneration and social security45 | €5,513 | €9,907 | €3,150 | €4,838 | €3,428 | ▼ 29.1% |
| Taxes450/3 | €5,017 | €9,411 | €1,013 | €2,342 | €2,342 | = |
| Remuneration and social security454/9 | €496 | €496 | €2,137 | €2,496 | €1,085 | ▼ 56.5% |
| Other amounts payable47/48 | €21,192 | €17,544 | €8,917 | €9,858 | €5,561 | ▼ 43.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €18,418 | €12,210 | €10,133 | €10,284 | -€9,961 | ▼ 197% |
| + Depreciation and write-downs630 | €30,113 | €18,935 | €19,617 | €5,854 | €5,055 | ▼ 13.7% |
| Operating cash flow (approximation) | €48,531 | €31,145 | €29,750 | €16,138 | -€4,906 | ▼ 130% |
| Investment in fixed assets (approximation) | - | -€12,972 | €0 | -€5,291 | -€1,423 | ▲ 73.1% |
| Change in cash | - | -€16,520 | €9,088 | €7,159 | -€2,896 | ▼ 140% |
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
23-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet -€9,961
Net result drops to -€9,961, the lowest in the series.
24-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
06-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
14-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
04-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
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, Zwevegem · 1 establishment unit since 2020
Ground area
1.3 ha
Building footprint
140 m²
Volume, LiDAR
789 m³
2 parcels, Flanders, Wallonia · tallest building 8.6 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Madepo
since 20202.304.243.017
2 parcels
Flanders
1
(50%)
Wallonia
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 57067B0561/00A000 | Wallonia | 1.1 ha | - | - |
| 34028B0483/00W002 | Flanders | 1,372 m² | 1 · 140 m² | 8.6 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 20,025 companies in sector 43320 we hold annual accounts for 9,138. 7,623 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
Founded22-06-2020
Fiscal year end31-12
Activities, NACEBEL 2025
43320Joinery installation
43211General electrical installation work
43212Electrical installation work in industrial facilities
43222Installation of electric heating, air conditioning, cooling and ventilation
46643Wholesale of electrical equipment, including installation materials
71121Engineering and related technical consultancy, excluding land surveyors
E-invoicing
Reachable via Peppol
Peppol ID
0208:0748798725
Also
9925:BE0748798725
Registered
30-09-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.