MADOCK

Active

Private limited companyfounded 20215 yrs activeDendermondesteenweg 440 A, 9070 Destelbergen, BelgiumKBO/BCE: BE 0773.758.607

Summary

The computed 12-month bankruptcy probability of MADOCK is 4.2% (elevated). The 2024 annual accounts show equity of €43k and a net result of €25k. Equity is growing by ~115% per year across the filed fiscal years. Its solvency ranks better than 49% of 18941 sector peers (fiscal year 2024). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.

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Checked score

Score 2024

59 / 100

Fair

The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability90▲+9

Solvency53▲+17

Growth78=

Track record94

Bankruptcy probability, 12 months

4.2% Elevated

0%0.5%1.5%4%10%≥ 25%

Credit up to €2.5k at 30 days only on tighter terms

Liquidity short (current ratio 0.58 against 0.3 in 2023; short-term debt: 30% and cash: 9.6% of total assets), and 71.6% of the assets are financed with debt.

How do we compute the score and the probability?

Credit check for your own amount and term

Signals

Four signals. The signal on the left, the evidence on the right.

+raises risk○neutral

Higher-failure-rate sector

In this sector companies fail more often than the Belgian average.

Gazette · bankruptcies per sector, NACE 56

Relative position

BE, all sectors

reference

Sector 56

higher

← fewer bankruptcies more bankruptcies →

Limited track record

This company has not been active as long as an established one and statistically fails somewhat more often.

KBO · incorporation date

Age against the risk zone

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 2024

Solvency, return and age of the figures

Solvency

28.4%

Return on assets

16.6%

Age of the figures

21 mo

Latest accounts filed on time

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 17-06-2025, 44 days ahead of the deadline.

NBB · 3 filings

Deviation from the deadline

2025

not confirmed

2024

44 d early

2023

23 d early

2022

1 d late

← before the deadline after the deadline →

Checked, nothing found (1)

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2024, micro schema

Equity

€43k▲ 141%

2023 · €18k

2022: €2k 2023: €18k

2022 → 2024

Total assets

€150k▼ 9.3%

2023 · €166k

2022: €162k 2023: €166k

2022 → 2024

Net result

€25k▲ 58.3%

2023 · €16k

2022: €-554 2023: €16k

2022 → 2024

Working capital

€-19k▲ 53.9%

2023 · €-41k

2022: €-54k 2023: €-41k

2022 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line202220232024Trend

Equity€2k-€18k▲ 810%€43k▲ 141%

Operating result€2k-€20k▲ 1,194%€35k▲ 73.1%

Net result€-554-€16k€25k▲ 58.3%

Turnover and EBIT margin not published: the micro schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result has risen two years in a row; 2024 is 73% above 2023 and is the highest result in the available series.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €150k

82.7%

17.3%

Fixed assets €124k ▼ 16.1%

Current assets €26k ▲ 48.1%

Equity and liabilities €150k

28.4%

71.6%

Equity €43k ▲ 141%

Debt €108k ▼ 27.3%

Debt's share of the balance-sheet total falls from 89.3% to 71.6%. Equity is higher and debt is lower.

Key figures and ratios

2024 value · change against 2023

EBITDA

€61k▲

2023 · €37k

Cash flow

€51k▲

2023 · €33k

Current ratio

0.58▲

2023 · 0.30

Quick ratio

0.52▲

2023 · 0.25

Debt to equity

2.52▼

2023 · 8.36

ROE

58.5%▼

2023 · 89.0%

ROA

16.6%▲

2023 · 9.5%

Interest coverage

21.46▲

2023 · 13.93

Debt ≤ 1 year

€45k▼

2023 · €59k

Debt > 1 year

€62k▼

2023 · €89k

Income taxes

€7k▲

2023 · €2k

Staff costs

€98k▲

2023 · €89k

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 · 2024 against 2023 · 53 lines

Balance sheet Code20232024

Assets

Total assets20/58€166k€150k▼

Fixed assets21/28€148k€124k▼

Tangible fixed assets22/27€142k€118k▼

Plant, machinery and equipment23€48k€42k▼

Furniture and vehicles24€58k€42k▼

Other tangible fixed assets26€36k€34k▼

Financial fixed assets28€6k€6k▲

Current assets29/58€18k€26k▲

Stocks and contracts in progress3€3k€3k▼

Stocks30/36€3k€3k▼

Amounts receivable within one year40/41€6k€7k▲

Trade receivables40€998€3k▲

Other amounts receivable41€5k€4k▼

Cash at bank and in hand54/58€9k€14k▲

Deferred charges and accrued income490/1€134€2k▲

Equity and liabilities

Total equity and liabilities10/49€166k€150k▼

Equity10/15€18k€43k▲

Contributions10/11€3k€3k=

Reserves13€15k€15k=

Distributable reserves133€15k€15k=

Profit (loss) carried forward14€209€25k▲

Amounts payable17/49€148k€108k▼

Amounts payable after more than one year17€89k€62k▼

Financial debts170/4€89k€62k▼

Amounts payable within one year42/48€59k€45k▼

Current portion of amounts payable after more than one year42€16k€14k▼

Financial debts43€5k€0▼

Other loans439€5k€0▼

Trade debts44€9k€12k▲

Suppliers440/4€9k€12k▲

Taxes, remuneration and social security45€17k€19k▲

Taxes450/3€5k€12k▲

Remuneration and social security454/9€12k€7k▼

Other amounts payable47/48€12k€0▼

Accrued charges and deferred income492/3€114€0▼

Income statement Code20232024

Non-recurring operating income76A€445€0▼

Remuneration, social security and pensions62€89k€98k▲

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€17k€26k▲

Other operating charges640/8€2k€2k▲

Gross operating margin9900€128k€160k▲

Operating profit (loss)9901€20k€35k▲

Financial income75/76B€2€207▲

Recurring financial income75€2€207▲

Financial charges65/66B€3k€3k▲

Recurring financial charges65€3k€3k▲

Profit (loss) for the period before taxes9903€17k€32k▲

Income taxes67/77€2k€7k▲

Profit (loss) for the period9904€16k€25k▲

Profit (loss) for the period to be appropriated9905€16k€25k▲

Appropriation of the result

Profit (loss) to be appropriated9906€15k€25k▲

Profit (loss) brought forward from the previous period14P€-554€209▲

Transfer to equity691/2€15k€0▼

To other reserves6921€15k€0▼

The notes to these accounts (15 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 5Financial 2Filings 3

2025

17-06

NBB filing Annual accounts filed

fiscal year 2024 · micro schema

2024

31-12

Financial Highest result since 2022net €25k ▲58.3%

Operating result €35k, net result €25k, both a record.

08-07

NBB filing Annual accounts filed

fiscal year 2023 · micro schema

2023

31-12

Financial Back to profitnet €16k

Net result €16k after one loss-making year.

01-08

NBB filing Annual accounts filed

fiscal year 2022 · micro schema · 1 day late

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

4 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, Destelbergen · 1 establishment unit since 2021

establishment The establishment unit on the map

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.

Dendermondesteenweg 440 A9070 Destelbergen

Ground area

723 m²

Building footprint

123 m²

Volume, LiDAR

757 m³

Parcel 44013B0607/00W004, Flanders · tallest building 9.8 m, ±2 floors. Linked by address, not a title deed.

1 establishment unit

MADOCK

Dendermondesteenweg 440, 9070 DestelbergenFood and beverage service activities

since 20212.321.880.090

1 parcel

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
44013B0607/00W004	Flanders	723 m²	1 · 123 m²	9.8 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.

Recognitions · licences · registrations

Food safety, FASFC

1 site

Destelbergen2.321.880.090

1 permission

Toelating · Eetgelegenheid · since 22-10-2021

Similar companies · same sector, comparable size

HNGRR

BE 0693.726.677

Machelen (Brab.) · Eq €42,712

SAILLART

BE 0452.206.179

Antwerpen · Eq €42,871

Antwerpen · Eq €43,520

GMaes Invest

BE 0836.979.346

Wemmel · Eq €41,557

Of 1,352 companies in sector 56220 we hold annual accounts for 405. 313 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector

Company data · Crossroads Bank

Identification

Legal formPrivate limited company

Founded10-09-2021

Fiscal year end31-12

Activities, NACEBEL 2025

56111Full-service restaurants

56220Contract catering and other food service activities

56112Limited-service restaurants, excluding mobile food services

Sources

Crossroads Bank for EnterprisesNational Bank · 3 filingsAddress and cadastre registers

Scores and ratios are computed by Checked and are not a credit decision.