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MadisonUnderwood

Judicial reorganisation
Private limited companyfounded 2011active for 15 yearsBerkenlaan 57, 2610 Antwerpen, BelgiumKBO/BCE: BE 0838.042.188
Summary

The file of MadisonUnderwood contains 1 judicial reorganisation, as published in the Belgian Official Gazette. The KBO lists the legal status of MadisonUnderwood as special situation, with no start date. During the judicial reorganisation Checked does not compute a bankruptcy probability from the figures. Of the Belgian companies that opened one in 2023 and 2024, about one in four went bankrupt within twelve months. The 2025 annual accounts show equity of €52,729 and a net result of -€15,229. Equity has been growing by about 8.2% per year since 2018. Its solvency ranks better than 65% of 1,683 sector peers (NACE 62, financial year 2025).

Risk analysisFollow ReportCompare
MadisonUnderwoodJudicial reorganisationChecked score 24/100
Risk analysis ReportCompare

Information for creditors

Judicial reorganisation Source: Belgian Official Gazette

Opened on 16 July 2026 · moratorium until 5 November 2026

Creditor guide for this company

The procedure

Court
Enterprise Court of Antwerp
Track
Reorganisation by collective agreement
Docket number
20260044
Moratorium until
5 November 2026
Creditors' vote
28 October 2026
Delegated judge
Ria Verheyen
Official Gazette
23-07-2026search the document for 2026/132735

Steps for a creditor

  1. Do not attach assets or start enforcement for debts from before the opening while the moratorium runs.
  2. Check the amount the company lists you for. It has to tell you. Dispute a wrong amount in writing.
  3. The company files a reorganisation plan and creditors vote on it at a hearing. A plan approved and confirmed by the court also binds those who voted against.
  4. What you deliver after the opening is not covered by the moratorium. Agree clear payment terms for it.
  5. The file is in RegSol, where you can read the documents of the procedure.

The moratorium runs until 5 November 2026, unless the court extends or ends it earlier. The date of the vote on the plan is in the judgment and in RegSol.

Your claim still exists, but while the moratorium runs you cannot enforce it. What you do now depends on the track of the reorganisation.

Follow Follow this reorganisation and you are notified of an extension, the court's approval, the closure or a bankruptcy.

This is general information, not legal advice. If in doubt, your lawyer or your accountant can help.

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Overview

Official details

Source: KBO
Status
Active since 20-07-2011 Judicial reorganisation
Activity
Computer consultancy and computer facilities management NACE 62200
Joint committee
200 Aanvullend Paritair Comité voor de bedienden · annual accounts 2024
Establishment unit
2.202.131.711 2610 Antwerpen, since 20-07-2011
Financial year end
31 December
Peppol
Reachable since 30-01-2025
Company details

Board and ownership

Board
Board & ownership

Financial position

24 Critical Checked score 2025
Reorganisation running: about 1 in 4 bankrupt within the year
Annual accounts 2025
Gross margin
€125,264
▼ 15.5%
Turnover
≈ €280,000
estimated
Loss
€15,229
Equity
€52,729
▼ 22.4%
Total assets
€98,610
▼ 17.8%
Employees on 31-12-2025
2
=
  • €102 of overdue tax debts on 31-12-2025
  • €385 of overdue social security (RSZ) debts on 31-12-2025
Financials
Signalsraises riskIn judicial reorganisationneutralLatest accounts filed on timeShow the evidence

Checked score

Score 2025
24 / 100
Critical
Without a bankruptcy probability, the score rests on the figures alone.
An ongoing judicial reorganisation from the Belgian Official Gazette caps the score at 24. Every signal that counts is listed under Signals.
Financial strength · tick: 2024
Weak
Solvency 78-4
equity 53.5% of total assets
Liquidity 29-17
short-term debt 46.5% · cash 1.2%
Profitability 0-52
return on assets -15.4%
Bankruptcy probability within 12 months

Judicial reorganisation

About 1 in 4 comparable companies went bankrupt within the year

A judicial reorganisation is open. There is then no bankruptcy probability from the figures. Of every Belgian company in an open or failed reorganisation, 25% to 26% went bankrupt within twelve months (measured in 2024 and 2025).

No credit on open account during an ongoing judicial reorganisation
Liquidity is ample, with a current ratio of 2.08 (2.22 in 2024), above the usual 1.5. Short-term debt is 46.5% and cash 1.2% of total assets. 46.5% of the assets are financed with debt and provisions.

The scores and ratios are Checked's own calculations, not a credit decision.

Signals

Two signals.
raises riskneutral
raises risk · In judicial reorganisation
Ongoing procedure under court protection (Book XX of the Code of Economic Law). The company is restructuring. The KBO register also records: special situation.
Belgian Official Gazette
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 23-07-2026, 8 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
8 days early
2024
on the day
2023
2 days late
2022
66 days late
2021
4 days late
2020
1 day late
2019
122 days late
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

The company filed its last 7 accounts on average 27 days after the deadline. In the sector (NACE 62), the median for financial year 2024 was 9 days before the deadline, and 33% of those companies filed late.

Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 3 August (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven months
Where today falls in the filing period
03-11-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
That holds for every publication since 2021.
KBO publications

Recent changes

  1. · Judicial reorganisation Judicial reorganisation openedEnterprise Court of Antwerp · collective agreement (SME) · judgment of 16-07-2026
  2. · Gazette deed Change of role: BERGER Edward, from bestuurder,voormalige zaakvoerder to director
  3. · Gazette deed Incorporation
All 16 events

Comparable companies

These companies have the same main activity as MadisonUnderwood: computer consultancy and computer facilities management (NACE 62200). They are comparable in size and age: total assets between €71,400 and €134,000, founded between 2006 and 2016.

CompanyTotal assetsGross margin
MadisonUnderwood Antwerpen€98,610€125,264
iLEAN Kontich€97,390€177,954
TAOS Kontich€71,394€168,965
ACCONOMETRICS Herentals€134,467€112,669
The Whitebox Kontich€128,279€94,847
Osmosis Advisory Edegem€76,884€158,786
Addemus Consilium Hoogstraten€86,482€78,893
Full comparison

Key facts about MadisonUnderwood
What is the company number of MadisonUnderwood?
The company number of MadisonUnderwood is 0838.042.188. The VAT number is the same number with BE in front: BE 0838.042.188.
Where is MadisonUnderwood based?
The registered office is at Berkenlaan 57, 2610 Antwerpen.Company details
What does MadisonUnderwood do?
According to the KBO register, the main activity is computer consultancy and computer facilities management (NACE 62200).
What is the legal form of MadisonUnderwood?
The legal form of MadisonUnderwood is Private limited company (BV).
When was MadisonUnderwood founded?
MadisonUnderwood was founded on 20-07-2011.
Is MadisonUnderwood still active?
Yes, MadisonUnderwood is in the KBO register. A judicial reorganisation is running.
How many employees does MadisonUnderwood have?
MadisonUnderwood had an average of 1.8 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
Which joint committee does MadisonUnderwood fall under?
In its 2024 annual accounts, MadisonUnderwood states joint committee 200 (Aanvullend Paritair Comité voor de bedienden).
What is the turnover of MadisonUnderwood?
The turnover in financial year 2025 is ≈ €280,000. This figure is estimated from the gross margin of €125,264 and 74 comparable companies (NACE 62200). It probably lies between €190,000 and €610,000. In financial year 2021 turnover was €249,836.
Is MadisonUnderwood profitable?
In financial year 2025, MadisonUnderwood made a loss of €15,229.
Where can I find the annual accounts of MadisonUnderwood?
MadisonUnderwood filed 14 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
When are the next annual accounts of MadisonUnderwood due?
MadisonUnderwood must file the annual accounts for financial year 2026 by 31-07-2027.Timeline

Next steps

Check what to know before you do business with this company.Supplier due diligence See this company's board, registered office and name on a given date.Company as of a date Check whether the registered address is a letterbox address or a business centre.Addresses Check your own customer list for customers at risk.Process a list See how the computer consultancy and computer facilities management sector is doing.Sector figures

Keep this company with today's facts in a case file.

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