Madison Partners
ActiveSummary
Madison Partners has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €128k and a net result of €-603. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 16% of 8692 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability38▲+27
Solvency36▼-6
Growth52=
Track record94
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6k at 30 days acceptable
Liquidity tight (current ratio 1.42 against 1.23 in 2024; short-term debt: 67.6% and cash: 17.9% of total assets), and 88.9% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
2122232425
2021 to 2025 · latest year €-603
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 16% of 8692 sector peers (2025).
NBB · sector comparisonPosition among 8692 sector peers
Solvency
better than 16%
← weakest
strongest →
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 10-07-2026, 21 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
21 d early
2024
21 d early
2023
on the day
2022
12 d early
2021
3 d early
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€128k▼ 0.5%
2024 · €129k
2021: €52klowest in 5 years
2022: €172k▲ +229% vs 2021
2023: €179k▲ +4.1% vs 2022highest in 5 years
2024: €129k▼ -28.0% vs 2023
2025: €128k▼ -0.5% vs 2024
2021 → 2025
Total assets
€1.16M▲ 52.6%
2024 · €759k
2021: €315klowest in 5 years
2022: €878k▲ +179% vs 2021
2023: €804k▼ -8.4% vs 2022
2024: €759k▼ -5.7% vs 2023
2025: €1.16M▲ +52.6% vs 2024highest in 5 years
2021 → 2025
Net result
€-603▲ 98.8%
2024 · €-50k
2021: €27khighest in 5 years
2022: €20k▼ -28.5% vs 2021
2023: €7k▼ -64.3% vs 2022
2024: €-50k▼ -818% vs 2023lowest in 5 years
2025: €-603▲ +98.8% vs 2024
2021 → 2025
Working capital
€327k▲ 148%
2024 · €132k
2021: €49klowest in 5 years
2022: €142k▲ +189% vs 2021
2023: €128k▼ -9.7% vs 2022
2024: €132k▲ +3.0% vs 2023
2025: €327k▲ +148% vs 2024highest in 5 years
2021 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€52k-€172k▲ 229%€179k▲ 4.1%€129k▼ 28.0%€128k▼ 0.5%
2021: €52klowest in 5 years
2022: €172k▲ +229% vs 2021
2023: €179k▲ +4.1% vs 2022highest in 5 years
2024: €129k▼ -28.0% vs 2023
2025: €128k▼ -0.5% vs 2024
Operating result€36k-€34k▼ 5.5%€18k▼ 46.1%€-42k€25k
2021: €36khighest in 5 years
2022: €34k▼ -5.5% vs 2021
2023: €18k▼ -46.1% vs 2022
2024: €-42k▼ -331% vs 2023lowest in 5 years
2025: €25k▲ +158% vs 2024
Net result€27k-€20k▼ 28.5%€7k▼ 64.3%€-50k€-603▲ 98.8%
2021: €27khighest in 5 years
2022: €20k▼ -28.5% vs 2021
2023: €7k▼ -64.3% vs 2022
2024: €-50k▼ -818% vs 2023lowest in 5 years
2025: €-603▲ +98.8% vs 2024
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €25k after a loss of €42k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.16M
Fixed assets
€48k ▼ 4.8%
Current assets
€1.11M ▲ 56.7%
Equity and liabilities €1.16M
Equity
€128k ▼ 0.5%
Debt
€1.03M ▲ 63.4%
Debt's share of the balance-sheet total rises from 83.0% to 88.9%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€43k▲
2024 · €-27k
Cash flow
€18k▲
2024 · €-35k
Current ratio
1.42▲
2024 · 1.23
Debt to equity
8.04▲
2024 · 4.89
ROE
-0.5%▲
2024 · -38.9%
ROA
-0.1%▲
2024 · -6.6%
Interest coverage
2.31▲
2024 · -3.94
Debt ≤ 1 year
€783k▲
2024 · €577k
Income taxes
€7k▲
2024 · €978
Staff costs
€967k▲
2024 · €423k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 49 lines
Balance sheet
Code20242025
Assets
Total assets20/58€759k€1.16M▲
Fixed assets21/28€50k€48k▼
Tangible fixed assets22/27€50k€48k▼
Furniture and vehicles24€39k€35k▼
Other tangible fixed assets26€12k€13k▲
Current assets29/58€708k€1.11M▲
Amounts receivable within one year40/41€517k€868k▲
Trade receivables40€517k€868k▲
Other amounts receivable41€964€183▼
Cash at bank and in hand54/58€172k€207k▲
Deferred charges and accrued income490/1€19k€34k▲
Equity and liabilities
Total equity and liabilities10/49€759k€1.16M▲
Equity10/15€129k€128k▼
Contributions10/11€125k€125k=
Reserves13€4k€3k▼
Distributable reserves133€4k€3k▼
Profit (loss) carried forward14€51€0▼
Amounts payable17/49€630k€1.03M▲
Amounts payable within one year42/48€577k€783k▲
Current portion of amounts payable after more than one year42-€38k
Financial debts43€2k€3k▲
Credit institutions430/8€2k€3k▲
Trade debts44€468k€494k▲
Suppliers440/4€468k€494k▲
Taxes, remuneration and social security45€107k€247k▲
Taxes450/3€74k€142k▲
Remuneration and social security454/9€32k€104k▲
Other amounts payable47/48-€326
Accrued charges and deferred income492/3€53k€247k▲
Income statement
Code20242025
Remuneration, social security and pensions62€423k€967k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€15k€18k▲
Other operating charges640/8€2k€1k▼
Non-recurring operating charges66A-€7k
Gross operating margin9900€397k€1.02M▲
Operating profit (loss)9901€-42k€25k▲
Financial income75/76B€1€157▲
Recurring financial income75€1€157▲
Financial charges65/66B€7k€19k▲
Recurring financial charges65€7k€19k▲
Profit (loss) for the period before taxes9903€-49k€6k▲
Income taxes67/77€978€7k▲
Profit (loss) for the period9904€-50k€-603▲
Profit (loss) for the period to be appropriated9905€-50k€-603▲
Appropriation of the result
Profit (loss) to be appropriated9906€-50k€-552▲
Profit (loss) brought forward from the previous period14P-€51
Transfer from equity791/2€50k€603▼
Transfer to equity691/2€0€51▲
To other reserves6921€0€51▲
Social balance
Average headcount (FTE)90874.19.9▲
The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €11k | €143k | €241k | €423k | €967k | ▲ 129% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €603 | €3k | €12k | €15k | €18k | ▲ 22.9% |
| Other operating charges640/8 | €498 | €576 | €1k | €2k | €1k | ▼ 36.7% |
| Non-recurring operating charges66A | - | - | - | - | €7k | - |
| Gross operating margin9900 | €48k | €181k | €273k | €397k | €1.02M | ▲ 156% |
| Operating profit (loss)9901 | €36k | €34k | €18k | €-42k | €25k | ▲ 158% |
| Financial income75/76B | €38 | €0 | €110 | €1 | €157 | ▲ 21,352% |
| Recurring financial income75 | €38 | €0 | €110 | €1 | €157 | ▲ 21,352% |
| Financial charges65/66B | €1k | €2k | €5k | €7k | €19k | ▲ 169% |
| Recurring financial charges65 | €1k | €2k | €5k | €7k | €19k | ▲ 169% |
| Profit (loss) for the period before taxes9903 | €35k | €32k | €14k | €-49k | €6k | ▲ 112% |
| Income taxes67/77 | €7k | €13k | €7k | €978 | €7k | ▲ 584% |
| Profit (loss) for the period9904 | €27k | €20k | €7k | €-50k | €-603 | ▲ 98.8% |
| Profit (loss) for the period to be appropriated9905 | €27k | €20k | €7k | €-50k | €-603 | ▲ 98.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €315k | €878k | €804k | €759k | €1.16M | ▲ 52.6% |
| Fixed assets21/28 | €4k | €39k | €51k | €50k | €48k | ▼ 4.8% |
| Tangible fixed assets22/27 | €4k | €39k | €51k | €50k | €48k | ▼ 4.8% |
| Furniture and vehicles24 | €4k | €33k | €41k | €39k | €35k | ▼ 8.9% |
| Other tangible fixed assets26 | - | €6k | €10k | €12k | €13k | ▲ 8.5% |
| Current assets29/58 | €311k | €839k | €753k | €708k | €1.11M | ▲ 56.7% |
| Amounts receivable within one year40/41 | €224k | €249k | €430k | €517k | €868k | ▲ 67.8% |
| Trade receivables40 | €224k | €241k | €430k | €517k | €868k | ▲ 68.1% |
| Other amounts receivable41 | €305 | €8k | €100 | €964 | €183 | ▼ 81.1% |
| Cash at bank and in hand54/58 | €84k | €581k | €305k | €172k | €207k | ▲ 20.4% |
| Deferred charges and accrued income490/1 | €3k | €9k | €19k | €19k | €34k | ▲ 81.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €315k | €878k | €804k | €759k | €1.16M | ▲ 52.6% |
| Equity10/15 | €52k | €172k | €179k | €129k | €128k | ▼ 0.5% |
| Contributions10/11 | €25k | €125k | €125k | €125k | €125k | = |
| Reserves13 | €27k | €47k | €54k | €4k | €3k | ▼ 15.0% |
| Distributable reserves133 | €27k | €47k | €54k | €4k | €3k | ▼ 15.0% |
| Profit (loss) carried forward14 | - | - | - | €51 | €0 | ▼ 100% |
| Amounts payable17/49 | €263k | €706k | €626k | €630k | €1.03M | ▲ 63.4% |
| Amounts payable within one year42/48 | €262k | €698k | €626k | €577k | €783k | ▲ 35.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €38k | - |
| Financial debts43 | €1k | €3k | €3k | €2k | €3k | ▲ 29.7% |
| Credit institutions430/8 | €1k | €3k | €3k | €2k | €3k | ▲ 29.7% |
| Trade debts44 | €224k | €658k | €551k | €468k | €494k | ▲ 5.7% |
| Suppliers440/4 | €224k | €658k | €551k | €468k | €494k | ▲ 5.7% |
| Taxes, remuneration and social security45 | €37k | €36k | €71k | €107k | €247k | ▲ 131% |
| Taxes450/3 | €36k | €20k | €44k | €74k | €142k | ▲ 91.2% |
| Remuneration and social security454/9 | €1k | €16k | €28k | €32k | €104k | ▲ 221% |
| Other amounts payable47/48 | - | - | - | - | €326 | - |
| Accrued charges and deferred income492/3 | €667 | €9k | €0 | €53k | €247k | ▲ 363% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €27k | €20k | €7k | €-50k | €-603 | ▲ 98.8% |
| + Depreciation and write-downs630 | €603 | €3k | €12k | €15k | €18k | ▲ 22.9% |
| Operating cash flow (approximation) | €28k | €23k | €19k | €-35k | €18k | ▲ 151% |
| Investment in fixed assets (approximation) | - | €-38k | €-24k | €-14k | €-16k | ▼ 10.0% |
| Change in cash | - | €497k | €-276k | €-133k | €35k | ▲ 126% |
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
10-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
10-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Weakest financial yearnet €-50k
Net result drops to €-50k, the lowest in the series; recovery starts the following year.
31-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
19-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Equity above €150kEq €172k ▲229%
2 profitable years in a row build equity to €172k.
28-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
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.
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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, Gent · 1 establishment unit since 2021
Ground area
399 m²
Building footprint
276 m²
Volume, LiDAR
2,605 m³
Parcel 44803C0759/00E000, Flanders · tallest building 13.8 m, ±3 floors. Linked by address, not a title deed.
8
companies at this address
See who is registered here
1 establishment unit
Madison Partners
since 20212.319.109.058
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44803C0759/00E000 | Flanders | 399 m² | 1 · 276 m² | 13.8 m · 3 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.
Public money · subsidies and aid
Flemish government
2025 · 1 entry · 75 EUR awarded · 75 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 75 EUR | 75 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 82,553 companies in sector 70200 we hold annual accounts for 52,585. 40,869 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded26-05-2021
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
66300Activities auxiliary to financial services and insurance activities
73110Advertising agencies
82990Other business support services
85599Other education
Scores and ratios are computed by Checked and are not a credit decision.