MADFIVE
MADFIVE has been active since 2005 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.26M and a net result of €84k. Equity is growing by ~10.5% per year across the filed fiscal years. Its solvency ranks better than 72% of 8862 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
| Equity | €1.26M |
| Net result | €84k |
| Better than sector | 72% |
| Active | 21 yrs |
Strong profile, led by stability.
All 5 axes are computed from data Checked has read.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 60.1% | 31.5% | |
| Net result | €84k | €11k | |
| Equity | €1.26M | €331k | |
| Gross operating margin | €215k | €93k | |
| Total assets | €2.10M | €1.42M |
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Deposit | abbreviated schema | abbreviated schema | abbreviated schema | abbreviated schema | abbreviated schema |
| Revenue | - | - | - | - | - |
| EBITDA | €209k | €289k | €221k | €160k | €268k |
| Net profit | €84k | €169k | €89k | €168k | €113k |
| Cash flow | €149k | €236k | €158k | €234k | €177k |
| Staff costs | - | - | - | - | - |
| Income taxes | €35k | €60k | €30k | €32k | €53k |
| Dividends | €0 | €37k | €0 | €35k | €146k |
| Total assets | €2.10M | €2.15M | €2.24M | €2.46M | €2.50M |
| Equity | €1.26M | €1.18M | €1.05M | €960k | €826k |
| Debt | €838k | €966k | €1.19M | €1.50M | €1.68M |
| of which ≤ 1y | €176k | €230k | €138k | €217k | €336k |
| of which > 1y | €661k | €731k | €1.05M | €1.28M | €1.34M |
| Working capital | €226k | €193k | €330k | €332k | €193k |
| Employees (FTE) | - | - | - | 0.0 | - |
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 2.28 | 1.84 | 3.39 | 2.53 | 1.57 |
| Quick ratio | 2.28 | 1.84 | 3.39 | 2.53 | 1.57 |
| Working capital ratio | 10.8% | 9.0% | 14.8% | 13.5% | 7.7% |
| Solvency | 60.1% | 55.0% | 46.9% | 38.9% | 33.0% |
| Debt / equity | 0.66 | 0.82 | 1.13 | 1.57 | 2.03 |
| Long-term debt ratio | 0.52 | 0.62 | 1.00 | 1.34 | 1.62 |
| Interest coverage | 5.64 | 5.94 | 6.58 | 3.99 | 6.39 |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | 4.0% | 7.9% | 4.0% | 6.8% | 4.5% |
| ROE | 6.6% | 14.3% | 8.5% | 17.6% | 13.7% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Full annual accounts (24 line items)
| Line item | Code | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €2.10M | €2.15M | €2.24M | €2.46M | €2.50M |
| Fixed assets | 21/28 | €1.70M | €1.72M | €1.77M | €1.91M | €1.97M |
| Tangible fixed assets | 22/27 | €1.47M | €1.50M | €1.54M | €1.60M | €1.66M |
| Financial fixed assets | 28 | €227k | €227k | €227k | €315k | €315k |
| Current assets | 29/58 | €403k | €423k | €468k | €550k | €528k |
| Amounts receivable within one year | 40/41 | €335k | €361k | €318k | €255k | €303k |
| Cash & bank | 54/58 | €23k | €51k | €146k | €260k | €173k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €2.10M | €2.15M | €2.24M | €2.46M | €2.50M |
| Equity | 10/15 | €1.26M | €1.18M | €1.05M | €960k | €826k |
| Contributions / capital | 10/11 | €13k | €13k | €13k | €13k | €13k |
| Reserves | 13 | €1.25M | €1.17M | €1.04M | €946k | €813k |
| Accumulated profits (losses) | 14 | €86 | €427 | €880 | €703 | €215 |
| Amounts payable | 17/49 | €838k | €966k | €1.19M | €1.50M | €1.68M |
| Amounts payable after one year | 17 | €661k | €731k | €1.05M | €1.28M | €1.34M |
| Amounts payable within one year | 42/48 | €176k | €230k | €138k | €217k | €336k |
| Trade debts payable within one year | 44 | €14k | €21k | €19k | €12k | €25k |
| Income statement | ||||||
| Gross operating margin | 9900 | €215k | €297k | €227k | €166k | €273k |
| Operating result | 9901 | €144k | €221k | €152k | €94k | €204k |
| Financial income | 75 | €12k | €56k | €794 | €146k | €5k |
| Financial charges | 65 | €37k | €49k | €34k | €40k | €42k |
| Result before taxes | 9903 | €118k | €229k | €119k | €200k | €166k |
| Income taxes | 67/77 | €35k | €60k | €30k | €32k | €53k |
| Net result for the period | 9904 | €84k | €169k | €89k | €168k | €113k |
| Result to be appropriated | 9905 | €84k | €169k | €89k | €168k | €113k |
-
VERHAEGHE Filip René Charles MauriceDirectorState Gazette act 23452401 (11-12-2023)Current11-12-2023 → present
2 events
- 11-12-2023 Resigned· Director
- 11-12-2023 Appointed· Director
| NACE primary | Renting and operating of own or leased residential real estate, excluding social housing(68201) |
| Legal form | Private limited company(610) |
| Incorporation | 13-01-2005 |
| Status | Active |
| Postal code | 9800 |
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44006B0742/00R000 | Flanders | 4,431 m² | 1 · 320 m² | 9.4 m · 2 fl. |
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.
11-12-2023 1 director appointed, 1 resigning, 1 reappointed
- VERHAEGHE Filip René Charles Maurice, Bestuurder
- VERHAEGHE Filip René Charles Maurice, Bestuurder
- BUYS Isabelle Ida, Commissaris
Technical details
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"pub_date": "2023-12-11",
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"date": "2023-11-28",
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}| Legal nameNL | MADFIVE |