MADIOR
ActiveSummary
The computed 12-month bankruptcy probability of MADIOR is 2.2% (moderate). The 2025 annual accounts show negative equity (-€12,372) and a net result of -€3,680. Equity is shrinking by ~60.5% per year across the filed fiscal years. Its solvency ranks better than 16% of 18716 sector peers (fiscal year 2025). The company has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability60▲+60
Solvency1▼-6
Growth32=
Track record100
Bankruptcy probability, 12 months
2.2%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.13 against 0.85 in 2024; short-term debt: 124.1% and cash: 8.5% of total assets), and equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
+raises risk○neutral
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 2025Solvency, return and age of the figures
Solvency
-24.1%
Return on assets
-7.2%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€12,372
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 08-07-2026, 23 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
23 d early
2024
29 d late
2023
19 d early
2022
17 d early
2021
46 d late
2020
411 d late
2019
717 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 163 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 47% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 14 July (4 of the last 5 filed years within 46 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
€31,126
EBIT margin
1.8%
Net result
-€3,680▲ 50.1%
2024 · -€7,380
Working capital
-€55,545▼ 539%
2024 · -€8,692
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
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.Sector: the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover
Operating result-€364▲ 95.4%-€820▼ 125%-€5,763▼ 603%-€4,250▲ 26.2%-€3,519▲ 17.2%
Net result-€444within the sector's middle half▲ 94.6%-€906within the sector's middle half▼ 104%-€6,316below the sector's middle half▼ 597%-€7,380below the sector's middle half▼ 16.8%-€3,680within the sector's middle half▲ 50.1%
EBIT margin
Equity€5,910within the sector's middle half▼ 7.0%€5,004within the sector's middle half▼ 15.3%-€1,312below the sector's middle half-€8,692below the sector's middle half▼ 562%-€12,372below the sector's middle half▼ 42.3%
Total assets€35,436below the sector's middle half▼ 45.1%€62,788within the sector's middle half▲ 77.2%€36,846below the sector's middle half▼ 41.3%€49,134below the sector's middle half▲ 33.3%€51,332below the sector's middle half▲ 4.5%
Debt€29,526▼ 49.2%€57,784▲ 95.7%€38,159▼ 34.0%€57,827▲ 51.5%€63,704▲ 10.2%
Working capital€5,910within the sector's middle half▼ 7.0%-€26,555below the sector's middle half-€24,982below the sector's middle half▲ 5.9%-€8,692within the sector's middle half▲ 65.2%-€55,545below the sector's middle half▼ 539%
Solvency16.7%within the sector's middle half▲ 6.8pp8.0%within the sector's middle half▼ 8.7pp-3.6%below the sector's middle half▼ 11.5pp-17.7%below the sector's middle half▼ 14.1pp-24.1%below the sector's middle half▼ 6.4pp
Current ratio1.20within the sector's middle half▲ 0.090.54below the sector's middle half▼ 0.660.35below the sector's middle half▼ 0.200.85within the sector's middle half▲ 0.500.13below the sector's middle half▼ 0.72
Return on assets (ROA)-1.3%within the sector's middle half▲ 11.6pp-1.4%within the sector's middle half▼ 0.2pp-17.1%below the sector's middle half▼ 15.7pp-15.0%below the sector's middle half▲ 2.1pp-7.2%below the sector's middle half▲ 7.9pp
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
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 €3,519 in 2025 against €4,250 in 2024; the loss shrinks.
Balance-sheet composition
Assets €51,332
Fixed assets
€43,173
Current assets
€8,159
Equity and liabilities
Equity-€12,372
Debt€63,704
Equity is negative: debt (€63,704) exceeds the balance-sheet total (€51,332).
Key figures and ratios
EBITDA
€4,873
Cash flow
€4,712
Quick ratio
0.11▼
2024 · 0.67
Interest coverage
30.35
Debt ≤ 1 year
€63,704▲
2024 · €57,827
No debt to equity: equity is negative, so debt divided by equity means nothing.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,332 companies that looked in July 2024 the way this one looks now, 2.8% went bankrupt within 24 months and 91% are still going.
- Micro
- 10 to 20 years old
- negative equity
- a small loss
2.8%
went bankrupt
5.8%
stopped otherwise
91%
still going
A further 0.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 2.2% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 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 2,332 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.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €12,100 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €7,890 | €7,890 | - | €8,392 | - |
| Other operating charges640/8 | €2,681 | - | €271 | €310 | €1,848 | ▲ 496% |
| Gross operating margin9900 | €2,317 | €7,070 | €2,398 | -€3,940 | €6,721 | ▲ 271% |
| Operating profit (loss)9901 | -€364 | -€820 | -€5,763 | -€4,250 | -€3,519 | ▲ 17.2% |
| Financial income75/76B | - | - | - | €20,661 | - | - |
| Recurring financial income75 | - | - | - | €20,661 | - | - |
| Non-recurring financial income76B | - | - | - | €20,661 | - | - |
| Financial charges65/66B | €80 | €86 | €83 | €23,791 | €161 | ▼ 99.3% |
| Recurring financial charges65 | €80 | €86 | €83 | €121 | €161 | ▲ 32.2% |
| Non-recurring financial charges66B | - | - | - | €23,669 | - | - |
| Profit (loss) for the period before taxes9903 | -€444 | -€906 | -€5,846 | -€7,380 | -€3,680 | ▲ 50.1% |
| Income taxes67/77 | - | - | €470 | - | - | - |
| Profit (loss) for the period9904 | -€444 | -€906 | -€6,316 | -€7,380 | -€3,680 | ▲ 50.1% |
| Profit (loss) for the period to be appropriated9905 | -€444 | -€906 | -€6,316 | -€7,380 | -€3,680 | ▲ 50.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €35,436 | €62,788 | €36,846 | €49,134 | €51,332 | ▲ 4.5% |
| Fixed assets21/28 | - | €31,559 | €23,669 | - | €43,173 | - |
| Tangible fixed assets22/27 | - | €31,559 | €23,669 | - | €43,173 | - |
| Furniture and vehicles24 | - | €31,559 | €23,669 | - | €43,173 | - |
| Current assets29/58 | €35,436 | €31,229 | €13,177 | €49,134 | €8,159 | ▼ 83.4% |
| Stocks and contracts in progress3 | €19,085 | €12,633 | €5,323 | €10,513 | €927 | ▼ 91.2% |
| Stocks30/36 | €19,085 | €12,633 | €5,323 | €10,513 | €927 | ▼ 91.2% |
| Amounts receivable within one year40/41 | €10,375 | €16,489 | - | €25,501 | €1,654 | ▼ 93.5% |
| Trade receivables40 | €10,375 | €16,489 | - | €23,660 | €1,654 | ▼ 93.0% |
| Other amounts receivable41 | - | - | - | €1,840 | - | - |
| Cash at bank and in hand54/58 | €5,976 | €1,714 | €7,435 | €13,120 | €4,377 | ▼ 66.6% |
| Deferred charges and accrued income490/1 | - | €393 | €419 | - | €1,200 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €35,436 | €62,788 | €36,846 | €49,134 | €51,332 | ▲ 4.5% |
| Equity10/15 | €5,910 | €5,004 | -€1,312 | -€8,692 | -€12,372 | ▼ 42.3% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Profit (loss) carried forward14 | -€12,690 | -€13,596 | -€19,912 | -€27,292 | -€30,972 | ▼ 13.5% |
| Amounts payable17/49 | €29,526 | €57,784 | €38,159 | €57,827 | €63,704 | ▲ 10.2% |
| Amounts payable within one year42/48 | €29,526 | €57,784 | €38,159 | €57,827 | €63,704 | ▲ 10.2% |
| Trade debts44 | €23,108 | €43,603 | €36,527 | €57,827 | €48,538 | ▼ 16.1% |
| Suppliers440/4 | €23,108 | €43,603 | €36,527 | €57,827 | €48,538 | ▼ 16.1% |
| Taxes, remuneration and social security45 | €116 | €13,145 | €1,631 | - | €659 | - |
| Taxes450/3 | €116 | €13,145 | €1,631 | - | €659 | - |
| Other amounts payable47/48 | €6,302 | €1,036 | - | - | €14,507 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€444 | -€906 | -€6,316 | -€7,380 | -€3,680 | ▲ 50.1% |
| + Depreciation and write-downs630 | - | €7,890 | €7,890 | - | €8,392 | - |
| Operating cash flow (approximation) | -€444 | €6,984 | €1,573 | -€7,380 | €4,712 | ▲ 164% |
| Investment in fixed assets (approximation) | - | - | €0 | - | - | - |
| Change in cash | - | -€4,262 | €5,721 | €5,685 | -€8,743 | ▼ 254% |
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 · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
08-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
12-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
14-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
15-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 46 days late
15-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 411 days late
18-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 717 days late
2020
31-12
Financial
Weakest financial yearnet -€8,278
Net result drops to -€8,278, the lowest in the series; recovery starts the following year.
09-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 406 days late
2017
29-09
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 60 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
No directors read yet: 0 of 4 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Anderlecht · 1 establishment unit since 2015
Ground area
105 m²
Building footprint
119 m²
Volume, LiDAR
1,374 m³
Parcel 21001A0599/00K012, Brussels · tallest building 19.5 m, ±5 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
MADIOR
since 20152.267.805.362
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21001A0599/00K012 | Brussels | 105 m² | 1 · 119 m² | 19.5 m · 5 fl. |
Linked by address, not proof of ownership
Good to know
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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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 426 companies in this sector we hold annual accounts for 169. See the whole sector
Company details
Identification
Legal formPrivate limited company
Founded16-10-2015
Fiscal year end31-12
Activities, NACEBEL 2025
47553Retail trade
47559Retail sale of other household articles
E-invoicing
Reachable via Peppol
Peppol ID
9925:BE0641660245
Registered
19-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.