MADESMA STABLES
ActiveSummary
MADESMA STABLES has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €1.14M and a net result of €-24k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 93% of 3941 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2024
69
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability33▲+33
Solvency100▲+100
Growth52▲+20
Track record94
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €75k at 30 days acceptable
Liquidity short (current ratio 0.73 against 0.43 in 2023; short-term debt: 9.9% and cash: 2% of total assets), and 9.9% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Four 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 →
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 · 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 2024Solvency, return and age of the figures
Solvency
90.1%
Return on assets
-1.9%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 19-05-2025, 73 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
not confirmed
2024
73 d early
2023
49 d early
2022
24 d early
2021
62 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€1.14M
2023 · €-10k
2021: €24k
2022: €30k
2023: €-10k
2021 → 2024
Total assets
€1.27M▲ 3,641%
2023 · €34k
2021: €27k
2022: €45k
2023: €34k
2021 → 2024
Net result
€-24k▲ 41.0%
2023 · €-40k
2021: €9k
2022: €6k
2023: €-40k
2021 → 2024
Working capital
€-34k▼ 35.8%
2023 · €-25k
2021: €7k
2022: €9k
2023: €-25k
2021 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2021202220232024Trend
Equity€24k-€30k▲ 26.6%€-10k€1.14M
Operating result€14k-€10k▼ 24.9%€-38k€-22k▲ 42.4%
Net result€9k-€6k▼ 26.5%€-40k€-24k▲ 41.0%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €22k in 2024 against €38k in 2023; the loss shrinks.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.27M
Fixed assets
€1.18M ▲ 7,895%
Current assets
€92k ▲ 380%
Equity and liabilities €1.27M
Equity
€1.14M
Debt
€126k
Debt finances 9.9% of the balance-sheet total.
Key figures and ratios
Current ratio
0.73▲
2023 · 0.43
Quick ratio
0.35▼
2023 · 0.43
Debt to equity
0.11▲
2023 · -4.25
ROE
-2.1%
ROA
-1.9%▲
2023 · -118.4%
Debt ≤ 1 year
€126k▲
2023 · €44k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 40 lines
Balance sheet
Code20232024
Assets
Total assets20/58€34k€1.27M▲
Fixed assets21/28€15k€1.18M▲
Tangible fixed assets22/27€15k€1.18M▲
Land and buildings22-€1.18M
Other tangible fixed assets26€15k-
Current assets29/58€19k€92k▲
Stocks and contracts in progress3-€48k
Stocks30/36-€48k
Amounts receivable within one year40/41€7k€17k▲
Trade receivables40€4k€17k▲
Other amounts receivable41€3k-
Cash at bank and in hand54/58€10k€25k▲
Deferred charges and accrued income490/1€2k€3k▲
Equity and liabilities
Total equity and liabilities10/49€34k€1.27M▲
Equity10/15€-10k€1.14M▲
Contributions10/11€15k€1.19M▲
Reserves13€15k€15k=
Distributable reserves133€15k€15k=
Profit (loss) carried forward14€-40k€-64k▼
Amounts payable17/49€44k€126k▲
Amounts payable within one year42/48€44k€126k▲
Trade debts44€2k€4k▲
Suppliers440/4€2k€4k▲
Taxes, remuneration and social security45€2k€2k▼
Taxes450/3€2k€2k▼
Other amounts payable47/48€40k€121k▲
Income statement
Code20232024
Non-recurring operating income76A-€13k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€6k-
Other operating charges640/8€807€2k▲
Gross operating margin9900€-32k€-21k▲
Operating profit (loss)9901€-38k€-22k▲
Financial income75/76B€0€1▲
Recurring financial income75€0€1▲
Financial charges65/66B€2k€2k▼
Recurring financial charges65€2k€2k▼
Profit (loss) for the period before taxes9903€-40k€-24k▲
Profit (loss) for the period9904€-40k€-24k▲
Profit (loss) for the period to be appropriated9905€-40k€-24k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-40k€-64k▼
Profit (loss) brought forward from the previous period14P-€-40k
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
19-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Equity above €1MEq €1.14M
Equity rises from €-10k to €1.14M.
12-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet €-40k ▼742%
Net result drops to €-40k, the lowest in the series; recovery starts the following year.
07-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-05
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.
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 2020
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.
Visserijstraat 279870 ZulteGround area
9,299 m²
Building footprint
1,252 m²
Volume, LiDAR
7,127 m³
2 parcels, Flanders · tallest building 7.9 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
MADESMA STABLES
since 20202.310.746.569
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44081A0028/00V000 | Flanders | 5,161 m² | 1 · 186 m² | - |
| 44050B0610/00E000 | Flanders | 4,138 m² | 1 · 1,066 m² | 7.8 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.
Similar companies · same sector, comparable size
Stal Het Netehof
BE 0716.694.990
Sint-Katelijne-Waver · Eq €1,145,161
DE MOERHOEVE
BE 0889.171.482
Lokeren · Eq €1,143,862
STAL DE RIDDER
BE 0839.819.268
Ranst · Eq €1,141,809
OPOLLO
BE 0471.723.371
Ieper · Eq €1,133,862
PHILYRA EQUUS
BE 0695.659.452
Lasne · Eq €1,176,426
Of 1,957 companies in sector 01430 we hold annual accounts for 743. 364 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded11-12-2020
Fiscal year end31-12
Activities, NACEBEL 2025
01430Raising of horses and other equines
73300Public relations and communication consultancy
93110Operation of sports facilities
93199Other sports activities
Sources
Crossroads Bank for EnterprisesNational Bank · 4 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.