Skip to content
Private limited companyfounded 2021active for 5 yearsPeperstraat 8, 9890 Gavere, BelgiumKBO/BCE: BE 0766.539.233

Financials · financial year 2025, abbreviated format

Annual accounts 2025 filed on 19-03-2026 PDF all 5 filings

Equity
€40,678=
2024 · €40,678
Net result
€21,072▼ 54.4%
2024 · €46,228
Total assets
€94,560▼ 20.0%
2024 · €118,270
Solvency
43.0%▲ 8.6pp
2024 · 34.4%
Trend over the years

2021 to 2025, 5 financial years

The operating result for 2025 is 38% lower than in 2024. It is the second fall in a row.

Operating result€39,530 2025 Net result€21,072 2025

Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.

Use the arrow keys on the chart for the figures per year.

The sector band is the middle half of the companies in Financial service activities, except insurance and pension funding (NACE 64). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio and return on assets (ROA).

Every figure with its change against the financial year before
favourable unfavourable
Line20212022202320242025
Operating result€31,534-€19,219▼ 39.1%€79,335▲ 313%€64,144▼ 19.1%€39,530▼ 38.4%
Net result€23,608within the sector's middle half-€12,070within the sector's middle half▼ 48.9%€57,781within the sector's middle half▲ 379%€46,228within the sector's middle half▼ 20.0%€21,072within the sector's middle half▼ 54.4%
Equity€28,608below the sector's middle half-€40,678below the sector's middle half▲ 42.2%€98,458below the sector's middle half▲ 142%€40,678below the sector's middle half▼ 58.7%€40,678below the sector's middle half=
Total assets€47,482below the sector's middle half-€68,209below the sector's middle half▲ 43.7%€125,343below the sector's middle half▲ 83.8%€118,270below the sector's middle half▼ 5.6%€94,560below the sector's middle half▼ 20.0%
Debt€18,874-€27,532▲ 45.9%€26,885▼ 2.4%€77,592▲ 189%€53,883▼ 30.6%
Working capital€24,364within the sector's middle half-€37,139within the sector's middle half▲ 52.4%€88,719within the sector's middle half▲ 139%€32,342within the sector's middle half▼ 63.5%€33,746within the sector's middle half▲ 4.3%
Solvency60.2%within the sector's middle half-59.6%within the sector's middle half▼ 0.6pp78.6%above the sector's middle half▲ 18.9pp34.4%within the sector's middle half▼ 44.2pp43.0%within the sector's middle half▲ 8.6pp
Current ratio2.29within the sector's middle half-2.35within the sector's middle half▲ 0.064.30above the sector's middle half▲ 1.951.42within the sector's middle half▼ 2.881.63within the sector's middle half▲ 0.21
Return on assets (ROA)49.7%above the sector's middle half-17.7%above the sector's middle half▼ 32.0pp46.1%above the sector's middle half▲ 28.4pp39.1%above the sector's middle half▼ 7.0pp22.3%above the sector's middle half▼ 16.8pp
above within below The sector band is the middle half of the companies in Financial service activities, except insurance and pension funding (NACE 64). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €94,560
Fixed assets €6,932 ▼ 16.8%
Current assets €87,628 ▼ 20.3%
Equity and liabilities €94,560
Equity €40,678 =
Debt €53,883 ▼ 30.6%
Debt's share of the balance-sheet total falls from 65.6% to 57.0%. Debt is lower.
Key figures and ratios
2025 value · change against 2024
ROE
51.8%▼
2024 · 113.6%
Debt ≤ 1 year
€53,883▼
2024 · €77,592
Income taxes
€8,409▼
2024 · €14,181
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.

Investments

fixed assets acquired
Item20212022202320242025
Tangible fixed assets€4,572-€6,990--
Depreciation and write-downs of the year€329€705€789€1,404€1,404

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Comparable companies

These companies have the same main activity as Madev: activities of holding companies (NACE 64210). They are comparable in size and age: total assets between €79,700 and €113,000, founded between 2020 and 2021.

CompanyFoundedTotal assetsEquityGross marginNet resultFinancial year
Madev Gavere2021€94,560€40,678€78,905€21,0722025
VINICON Brakel2021€92,567€42,914€73,214€40,4212025
Indegloria Consulting Nazareth-De Pinte2021€105,326€35,194€84,571€33,1692025
MAZIAN Eeklo2021€89,244€71,897€88,909€65,7662025
Ruysen Consult Aalst2021€79,749€13,922€72,505€53,4662025
STM Electrics Ninove2021€81,968€63,750€85,652€60,7502025
CLTSC Aalst2020€112,636€11,302€77,233€46,6572025

They were chosen from the 20,097 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity

Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 44 lines

Source: Annual accounts 2025 (PDF), filed on 19-03-2026.

Balance sheet Code20242025
Assets
Total assets20/58€118,270€94,560▼
Fixed assets21/28€8,336€6,932▼
Tangible fixed assets22/27€8,336€6,932▼
Furniture and vehicles24€6,928€5,733▼
Other tangible fixed assets26€1,408€1,199▼
Current assets29/58€109,934€87,628▼
Amounts receivable after more than one year29€35,000€30,000▼
Other amounts receivable291€35,000€30,000▼
Amounts receivable within one year40/41€47,283€35,982▼
Trade receivables40€16,285€26,072▲
Other amounts receivable41€30,998€9,910▼
Current investments50/53€3,455€3,455=
Cash at bank and in hand54/58€531€99▼
Deferred charges and accrued income490/1€23,665€18,092▼
Equity and liabilities
Total equity and liabilities10/49€118,270€94,560▼
Equity10/15€40,678€40,678=
Contributions10/11€5,000€5,000=
Reserves13€35,678€35,678=
Distributable reserves133€35,678€35,678=
Amounts payable17/49€77,592€53,883▼
Amounts payable within one year42/48€77,592€53,883▼
Current portion of amounts payable after more than one year42€5,075€7,353▲
Trade debts44€37€5,088▲
Suppliers440/4€37€5,088▲
Taxes, remuneration and social security45€26,252€6,858▼
Taxes450/3€26,252€6,858▼
Other amounts payable47/48€46,228€34,583▼
Income statement Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1,404€1,404=
Other operating charges640/8€628€644▲
Non-recurring operating charges66A-€37,327
Gross operating margin9900€66,175€78,905▲
Operating profit (loss)9901€64,144€39,530▼
Financial income75/76B€1,961€1,673▼
Recurring financial income75€1,961€1,673▼
Financial charges65/66B€5,696€11,723▲
Recurring financial charges65€5,696€11,723▲
Profit (loss) for the period before taxes9903€60,409€29,480▼
Income taxes67/77€14,181€8,409▼
Profit (loss) for the period9904€46,228€21,072▼
Profit (loss) for the period to be appropriated9905€46,228€21,072▼
Appropriation of the result
Profit (loss) to be appropriated9906€46,228€21,072▼
Transfer from equity791/2€57,781-
Profit to be distributed694/7€104,009€21,072▼
Return on contributions (dividend)694€104,009€21,072▼

The notes to these accounts have 5 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).

Line20212022202320242025Change
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€329€705€789€1,404€1,404=
Other operating charges640/8€1,851€1,631€813€628€644▲ 2.5%
Non-recurring operating charges66A----€37,327-
Gross operating margin9900€33,714€21,555€80,937€66,175€78,905▲ 19.2%
Operating profit (loss)9901€31,534€19,219€79,335€64,144€39,530▼ 38.4%
Financial income75/76B-€541€1,350€1,961€1,673▼ 14.7%
Recurring financial income75-€541€1,350€1,961€1,673▼ 14.7%
Financial charges65/66B€865€827€3,025€5,696€11,723▲ 106%
Recurring financial charges65€865€827€3,025€5,696€11,723▲ 106%
Profit (loss) for the period before taxes9903€30,670€18,933€77,659€60,409€29,480▼ 51.2%
Income taxes67/77€7,062€6,863€19,878€14,181€8,409▼ 40.7%
Profit (loss) for the period9904€23,608€12,070€57,781€46,228€21,072▼ 54.4%
Profit (loss) for the period to be appropriated9905€23,608€12,070€57,781€46,228€21,072▼ 54.4%
Line20212022202320242025Change
Assets
Total assets20/58€47,482€68,209€125,343€118,270€94,560▼ 20.0%
Fixed assets21/28€4,244€3,539€9,740€8,336€6,932▼ 16.8%
Tangible fixed assets22/27€4,244€3,539€9,740€8,336€6,932▼ 16.8%
Furniture and vehicles24€2,207€1,711€8,122€6,928€5,733▼ 17.2%
Other tangible fixed assets26€2,037€1,827€1,618€1,408€1,199▼ 14.9%
Current assets29/58€43,238€64,671€115,604€109,934€87,628▼ 20.3%
Amounts receivable after more than one year29€15,587-€40,000€35,000€30,000▼ 14.3%
Trade receivables290€15,587-----
Other amounts receivable291--€40,000€35,000€30,000▼ 14.3%
Amounts receivable within one year40/41-€37,041€38,619€47,283€35,982▼ 23.9%
Trade receivables40-€15,675€16,880€16,285€26,072▲ 60.1%
Other amounts receivable41-€21,366€21,739€30,998€9,910▼ 68.0%
Current investments50/53€3,455€3,455€3,455€3,455€3,455=
Cash at bank and in hand54/58€3,257€6,417€5,703€531€99▼ 81.4%
Deferred charges and accrued income490/1€20,939€17,757€27,827€23,665€18,092▼ 23.5%
Equity and liabilities
Total equity and liabilities10/49€47,482€68,209€125,343€118,270€94,560▼ 20.0%
Equity10/15€28,608€40,678€98,458€40,678€40,678=
Contributions10/11€5,000€5,000€5,000€5,000€5,000=
Reserves13€23,608€35,678€93,458€35,678€35,678=
Distributable reserves133€23,608€35,678€93,458€35,678€35,678=
Amounts payable17/49€18,874€27,532€26,885€77,592€53,883▼ 30.6%
Amounts payable within one year42/48€18,874€27,532€26,885€77,592€53,883▼ 30.6%
Current portion of amounts payable after more than one year42---€5,075€7,353▲ 44.9%
Trade debts44€1,721€13,607€2,628€37€5,088▲ 136×
Suppliers440/4€1,721€13,607€2,628€37€5,088▲ 136×
Taxes, remuneration and social security45€12,779€13,925€24,257€26,252€6,858▼ 73.9%
Taxes450/3€12,779€13,925€24,257€26,252€6,858▼ 73.9%
Other amounts payable47/48€4,374--€46,228€34,583▼ 25.2%
Line20212022202320242025Change
Profit (loss) for the period9904€23,608€12,070€57,781€46,228€21,072▼ 54.4%
+ Depreciation and write-downs630€329€705€789€1,404€1,404=
Operating cash flow (approximation)€23,936€12,775€58,570€47,632€22,476▼ 52.8%
Investment in fixed assets (approximation)-€0-€6,990€0€0-
Change in cash-€3,161-€714-€5,172-€433▲ 91.6%

A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.

Download as CSV

Filings with the National Bank (5)
Financial year Type Filed Reference Document
31-12-2025 abbreviated format 19-03-2026 2026-00057278 PDF
31-12-2024 abbreviated format 02-07-2025 2025-00217661 PDF
31-12-2023 abbreviated format 26-03-2024 2024-00049792 PDF
31-12-2022 abbreviated format 14-03-2023 2023-00039304 PDF
31-12-2021 abbreviated format 26-07-2022 2022-20223304 PDF

Next steps