MADHOVER
ActiveMADHOVER is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €139k and a net result of €-62k. Equity is growing by ~4.7% per year across the filed fiscal years. Its solvency ranks better than 20% of 7974 sector peers (fiscal year 2025). The company has been active since 2001 and the Belgian State Gazette contains no insolvency or warning signals.
Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 20% of 7974 sector peers (2025).
NBB · sector comparisonPosition among 7974 sector peers
Solvency
better than 20%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 31-10-2025, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
9 d early
2023
1 d early
2022
3 d early
2021
18 d late
2020
1 d early
2019
14 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close15-09-2026 today31-10-2026 deadline
Financials · fiscal year 2025, micro schema
Equity
€139k▼ 31.0%
2024 · €201k
2019: €127k
2020: €164k
2021: €197k
2022: €232k
2023: €238k
2024: €201k
2019 → 2025
Net result
€-62k▼ 70.0%
2024 · €-37k
2019: €17k
2020: €37k
2021: €33k
2022: €35k
2023: €6k
2024: €-37k
2019 → 2025
Total assets
€966k▼ 8.8%
2024 · €1.06M
2019: €762k
2020: €739k
2021: €715k
2022: €716k
2023: €1.16M
2024: €1.06M
2019 → 2025
Solvency
14.4%▼ 4.6pp
2024 · 19.0%
2019: 16.7%
2020: 22.2%
2021: 27.6%
2022: 32.4%
2023: 20.6%
2024: 19.0%
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€197k-€232k▲ 17.8%€238k▲ 2.4%€201k▼ 15.4%€139k▼ 31.0%
Operating result€50k-€53k▲ 4.3%€18k▼ 65.9%€-20k€-44k▼ 125%
Net result€33k-€35k▲ 7.1%€6k▼ 84.1%€-37k€-62k▼ 70.0%
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 €44k in 2025 against €20k in 2024; the loss grows and 2025 is the lowest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €966k
Fixed assets
€935k▼ 7.8%
Current assets
€31k▼ 31.3%
Equity and liabilities €966k
Equity
€139k▼ 31.0%
Debt
€827k▼ 3.6%
The debt ratio rises from 81.0% to 85.6%: equity shrinks faster than debt is paid down.
Key figures and ratios
Solvency
14.4%▼
2024 · 19.0%
ROE
-44.9%▼
2024 · -18.2%
ROA
-6.5%▼
2024 · -3.5%
Debt
€827k▼
2024 · €858k
Debt ≤ 1 year
€548k▲
2024 · €535k
Debt > 1 year
€263k▼
2024 · €308k
Income taxes
€133▲
2024 · €86
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€1.06M€966k▼
Fixed assets21/28€1.01M€935k▼
Tangible fixed assets22/27€1.01M€935k▼
Land and buildings22€876k€829k▼
Plant, machinery and equipment23€13k€10k▼
Furniture and vehicles24€126k€96k▼
Current assets29/58€44k€31k▼
Stocks and contracts in progress3€6k€6k=
Stocks30/36€6k€6k=
Amounts receivable within one year40/41€18k€15k▼
Trade receivables40€17k€15k▼
Other amounts receivable41€983€74▼
Cash at bank and in hand54/58€15k€4k▼
Deferred charges and accrued income490/1€5k€6k▲
Equity and liabilities
Total equity and liabilities10/49€1.06M€966k▼
Equity10/15€201k€139k▼
Contributions10/11€135k€135k=
Capital10€135k€135k=
Issued capital100€135k€135k=
Reserves13€66k€7k▼
Non-distributable reserves130/1€7k€7k=
Legal reserve130€7k€7k=
Distributable reserves133€59k€0▼
Profit (loss) carried forward14€0€-3k▼
Amounts payable17/49€858k€827k▼
Amounts payable after more than one year17€308k€263k▼
Financial debts170/4€308k€263k▼
Amounts payable within one year42/48€535k€548k▲
Current portion of amounts payable after more than one year42€67k€45k▼
Trade debts44€2k€10k▲
Suppliers440/4€2k€10k▲
Taxes, remuneration and social security45€12k€6k▼
Taxes450/3€7k€1k▼
Remuneration and social security454/9€5k€5k▲
Other amounts payable47/48€454k€487k▲
Accrued charges and deferred income492/3€14k€16k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€110k€85k▼
Other operating charges640/8€4k€4k▼
Gross operating margin9900€94k€45k▼
Operating profit (loss)9901€-20k€-44k▼
Financial income75/76B€0€82▲
Recurring financial income75€0€82▲
Financial charges65/66B€17k€18k▲
Recurring financial charges65€17k€18k▲
Profit (loss) for the period before taxes9903€-37k€-62k▼
Income taxes67/77€86€133▲
Profit (loss) for the period9904€-37k€-62k▼
Profit (loss) for the period to be appropriated9905€-37k€-62k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-26k€-62k▼
Profit (loss) brought forward from the previous period14P€11k€0▼
Transfer from equity791/2€26k€59k▲
Transfer to equity691/2€0-
To the legal reserve6920€0-
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
Next filing, fiscal year 2026, expected by
2025
31-10
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
31-03
Financial
Weakest financial yearnet €-62k
Net result drops to €-62k, the lowest in the series.
2024
22-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2023
30-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2022
28-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
31-03
Financial
Equity above €200kEq €232k ▲17.8%
4 profitable years in a row build equity to €232k.
2021
18-11
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 18 days late
2020
30-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
31-03
Financial
Highest result since 2019net €37k ▲124%
Operating result €56k, net result €37k, both a record.
31-03
Financial
Equity above €150kEq €164k ▲29.1%
2 profitable years in a row build equity to €164k.
2019
17-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
30-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
06-11
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 6 days late
2016
09-11
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 9 days late
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, Oudenaarde · 1 establishment unit since 2001
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.
Ronseweg 1429700 OudenaardeGround area
2,611 m²
Building footprint
207 m²
Volume, LiDAR
1,392 m³
Parcel 45023A0872/00E002, Flanders · tallest building 10.9 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
MADHOVER
since 20012.093.072.235
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 45023A0872/00E002 | Flanders | 2,611 m² | 1 · 207 m² | 10.9 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
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 24,637 companies in sector 64210 we hold annual accounts for 19,690. 13,030 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded01-02-2001
Fiscal year end31-03
Activities, NACEBEL
64200Holdings
64210Activities of holding companies
74151
Sources
Crossroads Bank for EnterprisesNational Bank · 24 filingsAddress and cadastre registers
Data from official sources, last processed on 14-09-2026. Scores and ratios are computed by Checked and are not a credit decision.