Madimax
ActiveSummary
The computed 12-month bankruptcy probability of Madimax is 4.0% (moderate). The 2025 annual accounts show negative equity (-€62,847) and a net result of -€12,473. Equity is shrinking by ~60.1% per year across the filed fiscal years. The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Overview
- Equity
- -€62,847
- Loss
- -€12,473
Why 30- Limited track record- No NACE activity registered- Annual accounts: weaker financial profileLatest accounts filed on timeShow the evidence
Checked score
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Signals
This company filed its last 6 accounts on average 37 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (2)
- Annual accounts filedfiscal year 2025 · micro…
- Annual accounts filedfiscal year 2024 · micro…
- Annual accounts filedfiscal year 2023 · micro…
Financials
Fiscal year 2025Total assets €765,414Loss -€12,473Solvency -8.2%Liquidity 0.05
Financials · fiscal year 2025, micro schema
Trend over the years
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.
Result and balance sheet
Key figures and ratios
Peer companies
Historical observationOf the 1,167 companies that looked in July 2024 the way this one looks now, 2.0% went bankrupt within 24 months and 95% are still going.
- Small
- 5 to 10 years old
- negative equity
- a small loss
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 4.0% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,341 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 1,167 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Filed annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,760 | €30,903 | €18,326 | €18,970 | €19,528 | ▲ 2.9% |
| Other operating charges640/8 | €747 | €4,188 | €2,168 | €4,648 | €2,321 | ▼ 50.1% |
| Gross operating margin9900 | €9,491 | -€1,363 | €7,405 | €15,525 | €16,968 | ▲ 9.3% |
| Operating profit (loss)9901 | €1,983 | -€36,454 | -€13,090 | -€8,092 | -€4,881 | ▲ 39.7% |
| Financial income75/76B | - | €0 | €0 | €0 | €0 | ▼ 100% |
| Recurring financial income75 | - | €0 | €0 | €0 | €0 | ▼ 100% |
| Financial charges65/66B | €3,493 | €6,183 | €5,892 | €7,323 | €7,592 | ▲ 3.7% |
| Recurring financial charges65 | €3,493 | €6,183 | €5,892 | €7,323 | €7,592 | ▲ 3.7% |
| Profit (loss) for the period before taxes9903 | -€1,509 | -€42,636 | -€18,981 | -€15,416 | -€12,473 | ▲ 19.1% |
| Profit (loss) for the period9904 | -€1,509 | -€42,636 | -€18,981 | -€15,416 | -€12,473 | ▲ 19.1% |
| Profit (loss) for the period to be appropriated9905 | -€1,509 | -€42,636 | -€18,981 | -€15,416 | -€12,473 | ▲ 19.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €348,193 | €766,291 | €777,630 | €803,247 | €765,414 | ▼ 4.7% |
| Formation expenses20 | €1,042 | €781 | €521 | €261 | €0 | ▼ 100.0% |
| Fixed assets21/28 | €247,858 | €762,530 | €762,996 | €761,035 | €745,608 | ▼ 2.0% |
| Tangible fixed assets22/27 | €247,858 | €762,530 | €762,996 | €761,035 | €745,608 | ▼ 2.0% |
| Land and buildings22 | €247,858 | €762,530 | €762,996 | €761,035 | €745,608 | ▼ 2.0% |
| Current assets29/58 | €99,294 | €2,979 | €14,113 | €41,952 | €19,806 | ▼ 52.8% |
| Amounts receivable within one year40/41 | €91,500 | €0 | €7,899 | €7,271 | €10,274 | ▲ 41.3% |
| Trade receivables40 | €91,500 | €0 | €1,831 | €0 | €3,000 | - |
| Other amounts receivable41 | - | - | €6,068 | €7,271 | €7,274 | = |
| Cash at bank and in hand54/58 | €6,809 | €1,060 | €5,141 | €33,556 | €8,322 | ▼ 75.2% |
| Deferred charges and accrued income490/1 | €985 | €1,919 | €1,074 | €1,125 | €1,209 | ▲ 7.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €348,193 | €766,291 | €777,630 | €803,247 | €765,414 | ▼ 4.7% |
| Equity10/15 | €26,659 | -€15,977 | -€34,958 | -€50,374 | -€62,847 | ▼ 24.8% |
| Contributions10/11 | €40,000 | €40,000 | €40,000 | €40,000 | €40,000 | = |
| Profit (loss) carried forward14 | -€13,341 | -€55,977 | -€74,958 | -€90,374 | -€102,847 | ▼ 13.8% |
| Amounts payable17/49 | €321,534 | €782,268 | €812,589 | €853,621 | €828,261 | ▼ 3.0% |
| Amounts payable after more than one year17 | €308,767 | €587,211 | €559,417 | €531,439 | €406,784 | ▼ 23.5% |
| Financial debts170/4 | €308,767 | €587,211 | €383,417 | €370,106 | €260,117 | ▼ 29.7% |
| Other amounts payable178/9 | - | - | €176,000 | €161,333 | €146,667 | ▼ 9.1% |
| Amounts payable within one year42/48 | €12,767 | €195,057 | €253,172 | €321,086 | €420,202 | ▲ 30.9% |
| Current portion of amounts payable after more than one year42 | €6,411 | €12,962 | €13,128 | €13,311 | €109,989 | ▲ 726% |
| Trade debts44 | €0 | €2,188 | €1,870 | €155 | €469 | ▲ 202% |
| Suppliers440/4 | €0 | €2,188 | €1,870 | €155 | €469 | ▲ 202% |
| Taxes, remuneration and social security45 | €16 | €821 | €24 | €1 | €1 | = |
| Taxes450/3 | €16 | €821 | €24 | €1 | €1 | = |
| Other amounts payable47/48 | €6,340 | €179,085 | €238,150 | €307,619 | €309,743 | ▲ 0.7% |
| Accrued charges and deferred income492/3 | €0 | - | - | €1,095 | €1,275 | ▲ 16.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€1,509 | -€42,636 | -€18,981 | -€15,416 | -€12,473 | ▲ 19.1% |
| + Depreciation and write-downs630 | €6,760 | €30,903 | €18,326 | €18,970 | €19,528 | ▲ 2.9% |
| Operating cash flow (approximation) | €5,251 | -€11,734 | -€655 | €3,554 | €7,055 | ▲ 98.5% |
| Investment in fixed assets (approximation) | - | -€545,576 | -€18,792 | -€17,008 | -€4,102 | ▲ 75.9% |
| Change in cash | - | -€5,749 | €4,081 | €28,415 | -€25,234 | ▼ 189% |
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
8 eventsLatest 18-06-2026Next filing 31-07-2027
History
Acts, filings and financial milestones
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Company details
Private limited company · founded 28-10-2020Year ends 31-12Peppol reachable1 site
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Sites & property
1 establishment unit
1 parcel
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11053D0860/00D007 | Flanders | 5,787 m² | 1 · 3,635 m² | 10.2 m |
Linked by address, not proof of ownership
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