MADOO
ActiveSummary
MADOO has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €19,063 and a net result of €123,438. The figures fluctuate too strongly year-on-year for a reliable trend projection. The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability100=
Solvency32▼-32
Growth58▼-20
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,000 at 30 days acceptable
Liquidity short (current ratio 0.92 against 1.36 in 2023; short-term debt: 93.1% and cash: 59.1% of total assets), and 93.1% of the assets are financed with debt.
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Signals
Three 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 69
Relative position
BE, all sectors
reference
Legal and accounting activities (NACE 69)
about 77% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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 2024Solvency, return and age of the figures
Solvency
6.9%
Return on assets
44.8%
Age of the figures
21 mo
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 24-06-2026, 37 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
37 d early
2024
29 d late
2023
28 d late
2022
156 d late
2021
26 d early
2020
31 d late
2019
92 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 39 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% 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 29 August (4 of the last 5 filed years within 66 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2024, micro schema
Equity
€19,063▼ 57.3%
2023 · €44,625
Total assets
€275,497▲ 138%
2023 · €115,872
Net result
€123,438▲ 64.2%
2023 · €75,185
Working capital
-€19,657
2023 · €25,239
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 69, Legal and accounting activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€140,854▲ 23.9%€145,081▲ 3.0%€117,246▼ 19.2%€99,323▼ 15.3%€157,509▲ 58.6%
Net result€108,507above the sector's middle half▲ 23.4%€111,323above the sector's middle half▲ 2.6%€90,058above the sector's middle half▼ 19.1%€75,185above the sector's middle half▼ 16.5%€123,438above the sector's middle half▲ 64.2%
Equity€240,559within the sector's middle half▲ 82.2%€54,382within the sector's middle half▼ 77.4%€144,441within the sector's middle half▲ 166%€44,625within the sector's middle half▼ 69.1%€19,063below the sector's middle half▼ 57.3%
Total assets€310,591within the sector's middle half▲ 58.6%€120,531within the sector's middle half▼ 61.2%€210,922within the sector's middle half▲ 75.0%€115,872within the sector's middle half▼ 45.1%€275,497within the sector's middle half▲ 138%
Debt€70,031▲ 9.8%€66,149▼ 5.5%€66,481▲ 0.5%€71,247▲ 7.2%€256,434▲ 260%
Working capital€244,477above the sector's middle half▲ 88.3%€50,911within the sector's middle half▼ 79.2%€119,832within the sector's middle half▲ 135%€25,239within the sector's middle half▼ 78.9%-€19,657below the sector's middle half
Solvency77.5%above the sector's middle half▲ 10.0pp45.1%within the sector's middle half▼ 32.3pp68.5%within the sector's middle half▲ 23.4pp38.5%within the sector's middle half▼ 30.0pp6.9%below the sector's middle half▼ 31.6pp
Current ratio4.92above the sector's middle half▲ 1.821.77within the sector's middle half▼ 3.152.84within the sector's middle half▲ 1.071.36within the sector's middle half▼ 1.480.92below the sector's middle half▼ 0.44
Return on assets (ROA)34.9%above the sector's middle half▼ 10.0pp92.4%above the sector's middle half▲ 57.4pp42.7%above the sector's middle half▼ 49.7pp64.9%above the sector's middle half▲ 22.2pp44.8%above the sector's middle half▼ 20.1pp
above
within
below
the middle half (P25 to P75) of NACE 69, Legal and accounting activities, 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 recovers in 2024; 2024 is 59% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €275,497
Fixed assets
€38,720 ▲ 86.3%
Current assets
€236,777 ▲ 149%
Equity and liabilities €275,497
Equity
€19,063 ▼ 57.3%
Debt
€256,434 ▲ 260%
Debt's share of the balance-sheet total rises from 61.5% to 93.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€166,035▲
2023 · €104,451
Cash flow
€131,964▲
2023 · €80,313
Debt to equity
13.45▲
2023 · 1.60
ROE
647.5%▲
2023 · 168.5%
Interest coverage
351.37▲
2023 · 100.18
Debt ≤ 1 year
€256,434▲
2023 · €69,852
Income taxes
€36,589▲
2023 · €23,096
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,153 companies that looked in July 2024 the way this one looks now, 1.7% went bankrupt within 24 months and 96% are still going.
- Micro
- 5 to 10 years old
- solvency under 10%
- a profit of 5% of the balance sheet or more
1.7%
went bankrupt
2.2%
stopped otherwise
96%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.2% 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 497,340 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 2,153 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €372 | €341 | €1,540 | €5,128 | €8,526 | ▲ 66.3% |
| Other operating charges640/8 | - | €7,808 | €2,579 | €4,889 | €3,705 | ▼ 24.2% |
| Gross operating margin9900 | €142,594 | €153,231 | €121,365 | €109,340 | €169,740 | ▲ 55.2% |
| Operating profit (loss)9901 | €140,854 | €145,081 | €117,246 | €99,323 | €157,509 | ▲ 58.6% |
| Financial income75/76B | - | €288 | €10 | €0 | €2,990 | ▲ 7,475,475% |
| Recurring financial income75 | - | €288 | €10 | €0 | €2,990 | ▲ 7,475,475% |
| Financial charges65/66B | - | €1,427 | €1,530 | €1,043 | €473 | ▼ 54.7% |
| Recurring financial charges65 | €1,158 | €1,427 | €1,530 | €1,043 | €473 | ▼ 54.7% |
| Profit (loss) for the period before taxes9903 | €139,696 | €143,942 | €115,726 | €98,280 | €160,026 | ▲ 62.8% |
| Income taxes67/77 | €31,189 | €32,619 | €25,668 | €23,096 | €36,589 | ▲ 58.4% |
| Profit (loss) for the period9904 | €108,507 | €111,323 | €90,058 | €75,185 | €123,438 | ▲ 64.2% |
| Profit (loss) for the period to be appropriated9905 | €108,507 | €111,323 | €90,058 | €75,185 | €123,438 | ▲ 64.2% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €310,591 | €120,531 | €210,922 | €115,872 | €275,497 | ▲ 138% |
| Fixed assets21/28 | €3,813 | €3,472 | €25,909 | €20,781 | €38,720 | ▲ 86.3% |
| Tangible fixed assets22/27 | €3,813 | €3,472 | €25,909 | €20,781 | €38,720 | ▲ 86.3% |
| Land and buildings22 | - | €2,182 | €2,182 | €2,182 | €2,182 | = |
| Furniture and vehicles24 | - | - | €22,437 | €17,309 | €35,248 | ▲ 104% |
| Other tangible fixed assets26 | - | €1,290 | €1,290 | €1,290 | €1,290 | = |
| Current assets29/58 | €306,778 | €117,060 | €185,013 | €95,091 | €236,777 | ▲ 149% |
| Amounts receivable within one year40/41 | €92,161 | €51,494 | €53,976 | €73,037 | €71,036 | ▼ 2.7% |
| Trade receivables40 | - | €22,748 | €32,013 | €51,551 | €58,721 | ▲ 13.9% |
| Other amounts receivable41 | - | €28,746 | €21,963 | €21,486 | €12,316 | ▼ 42.7% |
| Cash at bank and in hand54/58 | €200,520 | €38,566 | €95,263 | €16,452 | €162,688 | ▲ 889% |
| Deferred charges and accrued income490/1 | - | €27,000 | €35,774 | €5,603 | €3,053 | ▼ 45.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €310,591 | €120,531 | €210,922 | €115,872 | €275,497 | ▲ 138% |
| Equity10/15 | €240,559 | €54,382 | €144,441 | €44,625 | €19,063 | ▼ 57.3% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €221,959 | €35,782 | €125,841 | €26,025 | €463 | ▼ 98.2% |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | - | €1,860 | - | - | - | - |
| Other1319 | - | - | €1,860 | - | - | - |
| Distributable reserves133 | - | €33,922 | €123,981 | €26,025 | €463 | ▼ 98.2% |
| Amounts payable17/49 | €70,031 | €66,149 | €66,481 | €71,247 | €256,434 | ▲ 260% |
| Amounts payable within one year42/48 | €62,301 | €66,149 | €65,181 | €69,852 | €256,434 | ▲ 267% |
| Trade debts44 | €12,573 | €4,629 | €15,579 | €1,100 | €3,165 | ▲ 188% |
| Suppliers440/4 | - | €4,629 | €15,579 | €1,100 | €3,165 | ▲ 188% |
| Taxes, remuneration and social security45 | - | €1,179 | €16,729 | €11,138 | €38,137 | ▲ 242% |
| Taxes450/3 | - | €1,179 | €16,729 | €11,138 | €38,137 | ▲ 242% |
| Other amounts payable47/48 | - | €60,341 | €32,873 | €57,614 | €215,132 | ▲ 273% |
| Accrued charges and deferred income492/3 | - | - | €1,300 | €1,395 | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €108,507 | €111,323 | €90,058 | €75,185 | €123,438 | ▲ 64.2% |
| + Depreciation and write-downs630 | €372 | €341 | €1,540 | €5,128 | €8,526 | ▲ 66.3% |
| Operating cash flow (approximation) | €108,879 | €111,664 | €91,598 | €80,313 | €131,964 | ▲ 64.3% |
| Investment in fixed assets (approximation) | - | €0 | -€23,977 | €0 | -€26,465 | - |
| Change in cash | - | -€161,955 | €56,697 | -€78,811 | €146,237 | ▲ 286% |
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
24-06
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
31-12
Financial
Highest result since 2018net €123,438 ▲64.2%
Operating result €157,509, net result €123,438, both a record.
28-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 28 days late
03-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 156 days late
2022
31-12
Financial
Equity above €100,000Eq €144,441 ▲166%
5 profitable years in a row build equity to €144,441.
05-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
31-12
Financial
Equity above €200,000Eq €240,559 ▲82.2%
3 profitable years in a row build equity to €240,559.
31-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 92 days late
2019
31-12
Financial
Equity above €100,000Eq €132,052 ▲199%
2 profitable years in a row build equity to €132,052.
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 29 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
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.
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Directors · office · real estate
Directors
2 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, Sint-Martens-Latem · 1 establishment unit since 2017
Ground area
892 m²
Building footprint
144 m²
Volume, LiDAR
708 m³
Parcel 44064B0032/00W006, Flanders · tallest building 8.6 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
MADOO
since 20172.260.424.553
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44064B0032/00W006 | Flanders | 892 m² | 1 · 144 m² | 8.6 m · 2 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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Of 22,075 companies in sector 69101 we hold annual accounts for 9,061. 6,066 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
Founded30-12-2016
Fiscal year end31-12
Activities, NACEBEL 2025
69101Activities of lawyers
E-invoicing
Reachable via Peppol
Peppol ID
0208:0668597343
Also
9925:BE0668597343
Registered
25-03-2024
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.