MADRA
ActiveSummary
The computed 12-month bankruptcy probability of MADRA is 2.7% (moderate). The 2024 annual accounts show equity of €62k and a net result of €-11k. Equity is growing by ~21.8% per year across the filed fiscal years. Its solvency ranks better than 80% of 397 sector peers (fiscal year 2024). The company has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability1▼-77
Solvency100▲+35
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
2.7%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €3.5k at 30 days acceptable
Liquidity ample (current ratio 4.34 against 1.64 in 2023; short-term debt: 22.8% and cash: 48.4% of total assets), and 22.8% 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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 61
Relative position
BE, all sectors
reference
Telecommunications (NACE 61)
about 159% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
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
77.2%
Return on assets
-14%
Age of the figures
21 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 16-09-2025, 47 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
47 d late
2023
91 d late
2022
61 d late
2021
61 d late
2020
61 d late
2019
92 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€62k▼ 15.3%
2023 · €73k
Total assets
€80k▼ 56.2%
2023 · €182k
Net result
€-11k
2023 · €14k
Working capital
€61k▼ 13.0%
2023 · €70k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€8k▲ 184%€7k▼ 6.2%€20k▲ 174%€12k▼ 39.3%€-7k
Net result€8k▲ 659%€7k▼ 13.8%€17k▲ 147%€14k▼ 16.0%€-11k
Equity€36k▲ 28.0%€42k▲ 18.9%€59k▲ 39.2%€73k▲ 23.7%€62k▼ 15.3%
Total assets€74k▲ 21.8%€46k▼ 38.0%€66k▲ 44.4%€182k▲ 175%€80k▼ 56.2%
Debt€38k▲ 16.5%€4k▼ 90.5%€7k▲ 105%€109k▲ 1,362%€18k▼ 83.4%
Working capital€38k▲ 13.1%€29k▼ 23.7%€51k▲ 76.8%€70k▲ 37.8%€61k▼ 13.0%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2024: a loss of €7k after €12k in 2023, the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €80k
Fixed assets
€928 ▼ 68.9%
Current assets
€79k ▼ 56.0%
Equity and liabilities €80k
Equity
€62k ▼ 15.3%
Debt
€18k ▼ 83.4%
Debt's share of the balance-sheet total falls from 60.1% to 22.8%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-5k▼
2023 · €17k
Cash flow
€-9k▼
2023 · €19k
Current ratio
4.34▲
2023 · 1.64
Quick ratio
3.60▲
2023 · 1.51
Debt to equity
0.30▼
2023 · 1.50
ROE
-18.1%▼
2023 · 19.1%
ROA
-14.0%▼
2023 · 7.6%
Interest coverage
-33.81▼
2023 · 51.19
Debt ≤ 1 year
€18k▼
2023 · €109k
Income taxes
€4k▲
2023 · €2k
Staff costs
€20k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €28k | €54k | - | €20k | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €12k | €17k | €5k | €5k | €2k | ▼ 60.7% |
| Other operating charges640/8 | - | €2k | €1k | €750 | €5k | ▲ 551% |
| Gross operating margin9900 | €46k | €54k | €81k | €18k | €20k | ▲ 11.0% |
| Operating profit (loss)9901 | €8k | €7k | €20k | €12k | €-7k | ▼ 155% |
| Financial income75/76B | - | - | - | €4k | €9 | ▼ 99.7% |
| Recurring financial income75 | - | - | - | €4k | €9 | ▼ 99.7% |
| Financial charges65/66B | - | €45 | €90 | €342 | €138 | ▼ 59.5% |
| Recurring financial charges65 | €74 | €45 | €90 | €342 | €138 | ▼ 59.5% |
| Profit (loss) for the period before taxes9903 | €8k | €7k | €20k | €15k | €-7k | ▼ 144% |
| Income taxes67/77 | - | €614 | €4k | €2k | €4k | ▲ 175% |
| Profit (loss) for the period9904 | €8k | €7k | €17k | €14k | €-11k | ▼ 180% |
| Profit (loss) for the period to be appropriated9905 | €8k | €7k | €17k | €14k | €-11k | ▼ 180% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €74k | €46k | €66k | €182k | €80k | ▼ 56.2% |
| Fixed assets21/28 | €10k | €14k | €8k | €3k | €928 | ▼ 68.9% |
| Tangible fixed assets22/27 | €9k | €13k | €7k | €2k | - | - |
| Furniture and vehicles24 | - | €12k | €7k | €2k | - | - |
| Leasing and similar rights25 | - | €740 | €370 | - | - | - |
| Financial fixed assets28 | €1k | €1k | €928 | €928 | €928 | = |
| Current assets29/58 | €64k | €32k | €58k | €179k | €79k | ▼ 56.0% |
| Stocks and contracts in progress3 | €10k | €8k | €27k | €14k | €13k | ▼ 2.3% |
| Stocks30/36 | - | €8k | €27k | €14k | €13k | ▼ 2.3% |
| Amounts receivable within one year40/41 | €16k | €16k | €16k | €129k | €27k | ▼ 79.2% |
| Trade receivables40 | - | - | - | €112k | €4k | ▼ 96.2% |
| Other amounts receivable41 | - | €16k | €16k | €17k | €23k | ▲ 34.9% |
| Cash at bank and in hand54/58 | €37k | €8k | €15k | €37k | €39k | ▲ 5.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €74k | €46k | €66k | €182k | €80k | ▼ 56.2% |
| Equity10/15 | €36k | €42k | €59k | €73k | €62k | ▼ 15.3% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Capital10 | - | €19k | €19k | €19k | - | - |
| Issued capital100 | - | €19k | €19k | €19k | - | - |
| Reserves13 | €141 | €141 | €141 | €141 | €141 | = |
| Non-distributable reserves130/1 | - | €51 | €51 | €51 | - | - |
| Legal reserve130 | - | €51 | €51 | €51 | - | - |
| Distributable reserves133 | - | €89 | €89 | €89 | €141 | ▲ 57.4% |
| Profit (loss) carried forward14 | €17k | €24k | €40k | €54k | €43k | ▼ 20.6% |
| Amounts payable17/49 | €38k | €4k | €7k | €109k | €18k | ▼ 83.4% |
| Amounts payable after more than one year17 | €12k | - | - | - | - | - |
| Amounts payable within one year42/48 | €26k | €4k | €7k | €109k | €18k | ▼ 83.4% |
| Trade debts44 | €17k | €2k | €6k | €109k | €18k | ▼ 83.3% |
| Suppliers440/4 | - | €2k | €6k | €109k | €18k | ▼ 83.3% |
| Taxes, remuneration and social security45 | - | €2k | €1k | €318 | - | - |
| Taxes450/3 | - | - | €1k | €318 | €0 | ▼ 100% |
| Remuneration and social security454/9 | - | €2k | - | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €8k | €7k | €17k | €14k | €-11k | ▼ 180% |
| + Depreciation and write-downs630 | €12k | €17k | €5k | €5k | €2k | ▼ 60.7% |
| Operating cash flow (approximation) | €20k | €23k | €22k | €19k | €-9k | ▼ 148% |
| Investment in fixed assets (approximation) | - | €-20k | €200 | €0 | €0 | - |
| Change in cash | - | €-30k | €7k | €22k | €2k | ▼ 90.4% |
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
2025
16-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 47 days late
2024
31-12
Financial
Weakest financial yearnet €-11k
Net result drops to €-11k, the lowest in the series.
31-12
Financial
Liquidity triplescurrent ratio 4.34
Current ratio from 1.64 to 4.34; short-term debt falls from €109k to €18k.
30-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 91 days late
2023
30-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 61 days late
2022
31-12
Financial
Highest result since 2018net €17k ▲147%
Operating result €20k, net result €17k, both a record.
30-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 61 days late
2021
31-12
Financial
Liquidity quadruplescurrent ratio 8.85
Current ratio from 2.43 to 8.85; short-term debt falls from €26k to €4k.
30-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 61 days late
2020
31-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 92 days late
2019
21-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 21 days late
2018
17-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
12-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
11-07
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
6 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, Brussel · 1 establishment unit since 2005
Ground area
253 m²
Building footprint
227 m²
Volume, LiDAR
3,328 m³
Parcel 21815D0042/00T004, Brussels · tallest building 19.1 m, ±6 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
MADRA
since 20052.145.094.919
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21815D0042/00T004 | Brussels | 253 m² | 1 · 227 m² | 19.1 m · 6 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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteBrussel2.145.094.919
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Of 1,372 companies in sector 61100 we hold annual accounts for 583. 396 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
Founded22-11-2004
Fiscal year end31-12
Activities, NACEBEL 2025
47110Non-specialised retail sale with food, beverages or tobacco predominating
61100Wired, wireless and satellite telecommunications
Scores and ratios are computed by Checked and are not a credit decision.