MADERA
ActiveSummary
MADERA has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €80,072 and a net result of €49,015. Equity is growing by ~3.4% per year across the filed fiscal years. Its solvency ranks better than 54% of 27965 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency75▲+5
Growth78=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6,000 at 30 days acceptable
Liquidity ample (current ratio 1.92 against 1.1 in 2024; short-term debt: 37.7% and cash: 27.6% of total assets), and 49.6% of the assets are financed with debt.
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Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
50.4%
Return on assets
30.9%
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 24-08-2026, 24 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
24 d late
2024
28 d late
2023
30 d late
2022
31 d late
2021
31 d late
2020
31 d late
2019
91 d late
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€80,072▲ 158%
2024 · €31,058
Total assets
€158,879▲ 129%
2024 · €69,393
Net result
€49,015▲ 181%
2024 · €17,431
Working capital
€55,120▲ 1,388%
2024 · €3,705
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€5,192-€16,115▼ 210%€12,792€28,499▲ 123%€73,148▲ 157%
Net result-€5,464-€16,826▼ 208%€12,861€17,431▲ 35.5%€49,015▲ 181%
Equity€32,357▼ 14.4%€15,531▼ 52.0%€13,627▼ 12.3%€31,058▲ 128%€80,072▲ 158%
Total assets€40,744▼ 14.1%€42,169▲ 3.5%€87,326▲ 107%€69,393▼ 20.5%€158,879▲ 129%
Debt€8,387▼ 12.5%€26,638▲ 218%€73,699▲ 177%€38,336▼ 48.0%€78,807▲ 106%
Working capital€31,530▼ 11.5%€15,045▼ 52.3%-€22,254€3,705€55,120▲ 1,388%
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 three years in a row; 2025 is 157% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €158,879
Fixed assets
€43,855 ▲ 60.3%
Current assets
€115,024 ▲ 174%
Equity and liabilities €158,879
Equity
€80,072 ▲ 158%
Debt
€78,807 ▲ 106%
Debt's share of the balance-sheet total falls from 55.2% to 49.6%. Equity and debt are higher.
Key figures and ratios
EBITDA
€81,810▲
2024 · €37,027
Cash flow
€57,676▲
2024 · €25,958
Current ratio
1.92▲
2024 · 1.10
Quick ratio
1.91▲
2024 · 1.05
Debt to equity
0.98▼
2024 · 1.23
ROE
61.2%▲
2024 · 56.1%
ROA
30.9%▲
2024 · 25.1%
Interest coverage
137.17▲
2024 · 51.92
Debt ≤ 1 year
€59,904▲
2024 · €38,336
Debt > 1 year
€18,903
Income taxes
€24,922▲
2024 · €10,992
Staff costs
€91▼
2024 · €572
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €0 | - | €11,604 | €0 | - | - |
| Remuneration, social security and pensions62 | €0 | €146 | €264 | €572 | €91 | ▼ 84.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,367 | €341 | €6,838 | €8,528 | €8,661 | ▲ 1.6% |
| Other operating charges640/8 | €1,376 | €1,757 | €1,024 | €1,965 | €1,895 | ▼ 3.6% |
| Gross operating margin9900 | -€2,448 | -€13,871 | €20,919 | €39,563 | €83,795 | ▲ 112% |
| Operating profit (loss)9901 | -€5,192 | -€16,115 | €12,792 | €28,499 | €73,148 | ▲ 157% |
| Financial income75/76B | €1,164 | €1,105 | €4 | €637 | €1,385 | ▲ 117% |
| Recurring financial income75 | €1,164 | €1,105 | €4 | €637 | €1,385 | ▲ 117% |
| Financial charges65/66B | €986 | €949 | €149 | €713 | €596 | ▼ 16.4% |
| Recurring financial charges65 | €986 | €949 | €149 | €713 | €596 | ▼ 16.4% |
| Profit (loss) for the period before taxes9903 | -€5,014 | -€15,960 | €12,647 | €28,423 | €73,937 | ▲ 160% |
| Income taxes67/77 | €450 | €866 | -€214 | €10,992 | €24,922 | ▲ 127% |
| Profit (loss) for the period9904 | -€5,464 | -€16,826 | €12,861 | €17,431 | €49,015 | ▲ 181% |
| Profit (loss) for the period to be appropriated9905 | -€5,464 | -€16,826 | €12,861 | €17,431 | €49,015 | ▲ 181% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €40,744 | €42,169 | €87,326 | €69,393 | €158,879 | ▲ 129% |
| Fixed assets21/28 | €826 | €485 | €35,881 | €27,353 | €43,855 | ▲ 60.3% |
| Tangible fixed assets22/27 | €826 | €485 | €35,881 | €27,353 | €43,855 | ▲ 60.3% |
| Plant, machinery and equipment23 | €826 | €485 | €9,470 | €7,408 | €23,179 | ▲ 213% |
| Furniture and vehicles24 | €0 | - | €26,411 | €19,945 | €20,676 | ▲ 3.7% |
| Current assets29/58 | €39,917 | €41,683 | €51,446 | €42,040 | €115,024 | ▲ 174% |
| Stocks and contracts in progress3 | €1,293 | €4,731 | €15,954 | €1,880 | €649 | ▼ 65.5% |
| Stocks30/36 | €1,293 | €4,731 | €15,954 | €1,880 | €649 | ▼ 65.5% |
| Amounts receivable within one year40/41 | €35,054 | €27,859 | €21,812 | €12,223 | €70,259 | ▲ 475% |
| Trade receivables40 | €12,404 | €13,900 | €17,111 | €8,742 | €6,983 | ▼ 20.1% |
| Other amounts receivable41 | €22,650 | €13,960 | €4,701 | €3,481 | €63,276 | ▲ 1,718% |
| Current investments50/53 | €0 | - | - | - | - | - |
| Cash at bank and in hand54/58 | €2,057 | €7,993 | €13,550 | €27,718 | €43,835 | ▲ 58.1% |
| Deferred charges and accrued income490/1 | €1,514 | €1,099 | €130 | €219 | €281 | ▲ 28.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €40,744 | €42,169 | €87,326 | €69,393 | €158,879 | ▲ 129% |
| Equity10/15 | €32,357 | €15,531 | €13,627 | €31,058 | €80,072 | ▲ 158% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €18,955 | €18,955 | €4,190 | €21,621 | €61,472 | ▲ 184% |
| Non-distributable reserves130/1 | €1,254 | €1,254 | €0 | - | - | - |
| Reserves not available under the articles1311 | €1,254 | €1,254 | €0 | - | - | - |
| Distributable reserves133 | €17,701 | €17,701 | €4,190 | €21,621 | €61,472 | ▲ 184% |
| Profit (loss) carried forward14 | -€5,198 | -€22,024 | -€9,164 | -€9,164 | €0 | ▲ 100% |
| Amounts payable17/49 | €8,387 | €26,638 | €73,699 | €38,336 | €78,807 | ▲ 106% |
| Amounts payable after more than one year17 | - | - | - | - | €18,903 | - |
| Financial debts170/4 | - | - | - | - | €18,903 | - |
| Amounts payable within one year42/48 | €8,387 | €26,638 | €73,699 | €38,336 | €59,904 | ▲ 56.3% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €5,375 | - |
| Trade debts44 | €4,121 | €25,065 | €23,010 | €17,683 | €18,641 | ▲ 5.4% |
| Suppliers440/4 | €4,121 | €25,065 | €23,010 | €17,683 | €18,641 | ▲ 5.4% |
| Taxes, remuneration and social security45 | €4,266 | €1,573 | €868 | €12,016 | €35,888 | ▲ 199% |
| Taxes450/3 | €4,266 | €1,573 | €868 | €12,016 | €35,888 | ▲ 199% |
| Other amounts payable47/48 | - | - | €49,821 | €8,636 | €0 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€5,464 | -€16,826 | €12,861 | €17,431 | €49,015 | ▲ 181% |
| + Depreciation and write-downs630 | €1,367 | €341 | €6,838 | €8,528 | €8,661 | ▲ 1.6% |
| Operating cash flow (approximation) | -€4,096 | -€16,485 | €19,699 | €25,958 | €57,676 | ▲ 122% |
| Investment in fixed assets (approximation) | - | €0 | -€42,234 | €0 | -€25,163 | - |
| Change in cash | - | €5,937 | €5,556 | €14,169 | €16,117 | ▲ 13.8% |
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
24-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 24 days late
2025
31-12
Financial
Highest result since 2018net €49,015 ▲181%
Operating result €73,148, net result €49,015, both a record.
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 28 days late
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
31-12
Financial
Back to profitnet €12,861
Net result €12,861 after 2 loss-making years.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
31-12
Financial
Weakest financial yearnet -€16,826
Net result drops to -€16,826, 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
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 91 days late
2019
31-12
Financial
Back to profitnet €14,452
Net result €14,452 after one loss-making year.
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 8 acts read
About the unread acts
We know of 8 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
8 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, Beveren-Kruibeke-Zwijndrecht · 1 establishment unit since 2016
Ground area
4,446 m²
Building footprint
2,317 m²
Volume, LiDAR
14,156 m³
Parcel 46502D1191/00S000, Flanders · tallest building 8.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
MADERA
since 20162.256.442.308
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46502D1191/00S000 | Flanders | 4,446 m² | 1 · 2,317 m² | 8.4 m · 2 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 20,028 companies in sector 43320 we hold annual accounts for 9,135. 7,670 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
Founded19-08-2016
Fiscal year end31-12
Activities, NACEBEL 2025
43320Joinery installation
70200Business and other management consultancy
Scores and ratios are computed by Checked and are not a credit decision.