MADOU
ActiveMADOU has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €156k and a net result of €36k. Equity remains stable across the filed fiscal years (±1.8% per year). Its solvency ranks better than 34% of 33 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency18▼-18
Growth78▲+20
Stability100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €7k at 30 days only on tighter terms
Liquidity short (current ratio 0.55 against 0.51 in 2024), and 78.9% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Nine signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
21.1%
Return on assets
4.9%
Age of the figures
8 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 51
Relative position
BE, all sectors
reference
Sector 51
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Growing equity
Equity grew over 2023-2025. Profits are largely retained rather than distributed.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €156k
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 30-07-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
2 d early
2023
7 d early
2022
12 d early
2021
31 d late
2020
89 d late
2019
25 d late
← before the deadline
after the deadline →
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
12-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€156k▲ 30.1%
2024 · €120k
2018: €151k
2019: €137k
2020: €65k
2021: €73k
2022: €67k
2023: €76k
2024: €120k
2018 → 2025
Total assets
€743k▲ 85.0%
2024 · €402k
2018: €491k
2019: €566k
2020: €458k
2021: €515k
2022: €536k
2023: €433k
2024: €402k
2018 → 2025
Net result
€36k▼ 19.2%
2024 · €45k
2018: €-3k
2019: €-14k
2020: €-72k
2021: €8k
2022: €-6k
2023: €9k
2024: €45k
2018 → 2025
Working capital
€-97k▼ 28.4%
2024 · €-75k
2018: €-100k
2019: €-91k
2020: €-97k
2021: €-110k
2022: €-103k
2023: €-64k
2024: €-75k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€73k-€67k▼ 7.6%€76k▲ 12.8%€120k▲ 59.2%€156k▲ 30.1%
Operating result€22k-€-151€13k€51k▲ 290%€50k▼ 3.5%
Net result€8k-€-6k€9k€45k▲ 422%€36k▼ 19.2%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 3% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €743k
Fixed assets
€623k▲ 93.6%
Current assets
€120k▲ 50.1%
Equity and liabilities €743k
Equity
€156k▲ 30.1%
Debt
€586k▲ 108%
The debt ratio rises from 70.0% to 78.9%: debt grows faster than equity.
Key figures and ratios
EBITDA
€200k▲
2024 · €139k
Cash flow
€186k▲
2024 · €133k
Solvency
21.1%▼
2024 · 30.0%
Current ratio
0.55▲
2024 · 0.51
Quick ratio
0.55▲
2024 · 0.51
Debt / equity
3.75▲
2024 · 2.34
ROE
23.1%▼
2024 · 37.2%
ROA
4.9%▼
2024 · 11.1%
Interest coverage
17.94▼
2024 · 24.26
Debt
€586k▲
2024 · €281k
Debt ≤ 1 year
€216k▲
2024 · €155k
Debt > 1 year
€288k▲
2024 · €63k
Income taxes
€3k▲
2024 · €912
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€402k€743k▲
Fixed assets21/28€322k€623k▲
Tangible fixed assets22/27€322k€623k▲
Land and buildings22€84k€84k=
Plant, machinery and equipment23-€7k
Furniture and vehicles24€238k€533k▲
Financial fixed assets28€200€200=
Current assets29/58€80k€120k▲
Amounts receivable within one year40/41€14k€19k▲
Trade receivables40€14k€19k▲
Cash at bank and in hand54/58€65k€101k▲
Deferred charges and accrued income490/1€1k€0▼
Equity and liabilities
Total equity and liabilities10/49€402k€743k▲
Equity10/15€120k€156k▲
Contributions10/11€63k€63k=
Capital10€63k€63k=
Issued capital100€63k€63k=
Reserves13€71k€94k▲
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Tax-exempt reserves132€7k€7k=
Distributable reserves133€58k€81k▲
Profit (loss) carried forward14€-14k€0▲
Amounts payable17/49€281k€586k▲
Amounts payable after more than one year17€63k€288k▲
Financial debts170/4€63k€288k▲
Amounts payable within one year42/48€155k€216k▲
Current portion of amounts payable after more than one year42€55k€100k▲
Trade debts44€3k€15k▲
Suppliers440/4€3k€15k▲
Taxes, remuneration and social security45€10k€12k▲
Taxes450/3€10k€12k▲
Other amounts payable47/48€86k€90k▲
Accrued charges and deferred income492/3€64k€82k▲
Income statement
Code20242025
Non-recurring operating income76A-€92k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€88k€150k▲
Other operating charges640/8€14k€18k▲
Gross operating margin9900€154k€218k▲
Operating profit (loss)9901€51k€50k▼
Financial income75/76B€27€374▲
Recurring financial income75€27€374▲
Financial charges65/66B€6k€11k▲
Recurring financial charges65€6k€11k▲
Profit (loss) for the period before taxes9903€46k€39k▼
Income taxes67/77€912€3k▲
Profit (loss) for the period9904€45k€36k▼
Profit (loss) for the period to be appropriated9905€45k€36k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-14k€22k▲
Profit (loss) brought forward from the previous period14P€-58k€-14k▲
Transfer to equity691/2-€22k
To other reserves6921-€22k
The notes to these accounts (15 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
30-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Equity above €150kEq €156k ▲30.1%
3 profitable years in a row build equity to €156k.
29-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2018net €45k ▲422%
Operating result €51k, net result €45k, both a record.
31-12
Financial
Equity above €100kEq €120k ▲59.2%
2 profitable years in a row build equity to €120k.
24-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €9k
Net result €9k after one loss-making year.
19-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
31-12
Financial
Back to profitnet €8k
Net result €8k after 3 loss-making years.
28-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 89 days late
2020
31-12
Financial
Weakest financial yearnet €-72k
Net result drops to €-72k, the lowest in the series; recovery starts the following year.
25-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 25 days late
2019
25-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
19-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
29-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 29 days 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, Lievegem · 2 establishment units since 2002
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.
Vaartkant(OW) 199931 LievegemGround area
4,151 m²
Building footprint
2,127 m²
Volume, LiDAR
12,113 m³
2 parcels, Flanders · tallest building 9.7 m, ±2 floors. Linked by address, not a title deed.
2 establishment units
Vaartkant(OW) 19, 9931 Lievegem
since 20022.095.744.881
Slachthuisstraat 1B, 9900 Eeklo
since 20052.268.601.059
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 43352F0516/00E002 | Flanders | 2,683 m² | 1 · 1,131 m² | 7.9 m · 2 fl. |
| 44053H0133/00F000 | Flanders | 1,468 m² | 1 · 996 m² | 9.7 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
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BE 0837.267.178
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LXR
BE 0811.051.048
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FLYING PARTNERS
BE 0445.393.811
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MERCONA
BE 0449.672.994
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ILPAM
BE 0831.463.808
Sint-Martens-Latem · Eq €144k
Of 451 companies in sector 51100 we hold annual accounts for 170. 114 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded22-02-2002
Fiscal year end31-12
Activities, NACEBEL
51100Air transport
62200Computer consultancy and computer facilities management
Sources
Crossroads Bank for EnterprisesNational Bank · 24 filingsAddress and cadastre registers
Data from official sources, last processed on 11-09-2026. Scores and ratios are computed by Checked and are not a credit decision.