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Generated 21-07-2026
Active BE 0667.747.802Private limited company

MADRE

Putstraat 22 ·8690 Alveringem, Belgium· 9 yrs active
Sector: Real estate activities (68121)
Conclusion Checked

The computed 12-month bankruptcy probability of MADRE is 0.4% (very low). The 2024 annual accounts show equity of €38k and a net result of €6k. Equity is growing by ~66.2% per year across the filed fiscal years. Its solvency ranks better than 50% of 4921 sector peers (fiscal year 2024). The company has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 7 annual accounts.
Key figures
Equity €38k
Net result €6k
Better than sector 50%
Active 9 yrs
Snowflake analysis 5 axes · computed by Checked
Health51Profitability85Solvency11Growth78Stability100
65 / 100

Strong profile, led by stability.

Health 51
Profitability 85
Solvency 11
Growth 78
Stability 100
Bankruptcy probability (12 mo) Checked model v1 · free
0.4% Very low
0%0,5%1,5%4%10%≥25%
Lower-failure-rate sector −Annual accounts: weaker financial profile +

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Risk Assessment rule-based
0 / 100
Low risk
Trust signals 3 signals
More than 3 years active
Founded in 2016, past the statistically most fragile first 3 years.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad.
Administratively compliant
No FOD Economie strikeouts (UBO, accounts, address, activity).
Administrative Flags 0 events
No administrative flags
Health barometer FY 2024 · computed
51 / 100 Fair
050100

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Computed by Checked from NBB filings and Belgian State Gazette signals. Indicative, not credit advice.
Financial overview8 NBB filings
Annual accounts filed on 04-07-2025 with the NBB · fiscal year 2024 · micro
€-10k€0€10k€20k€30k€40kOperating result 2020: €37k€37kNet result 2020: €-1k€-1kOperating result 2021: €26k€26kNet result 2021: €7k€7kOperating result 2022: €38k€38kNet result 2022: €19k€19kOperating result 2023: €14k€14kNet result 2023: €1k€1kOperating result 2024: €10k€10kNet result 2024: €6k€6k20202021202220232024
Operating resultNet result
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing Equity: growth of ~66.2%/year over 7 fiscal years, indicative, assuming unchanged policy.
€-25k€0€25k€50k€75k2025: €48k (€45k - €52k)2026: €57k (€52k - €62k)2027: €66k (€59k - €73k)2018: €-11k2019: €-13k2020: €5k2021: €12k2022: €30k2023: €31k2024: €38k2018201920202021202220232024202520262027
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison
Fiscal year 2024 · NACE 68, Real estate activities · compared within the same schema type (micro schema)
Metric This company Sector median Position in the sector
Solvency 16.7% 16.7%
better than 50% of 4921 sector peers
Net result €6k €2k
better than 57% of 4913 sector peers
Equity €38k €27k
better than 55% of 4924 sector peers
Gross operating margin €32k €27k
better than 54% of 4907 sector peers
Total assets €227k €302k
better than 44% of 4923 sector peers
Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.
EBITDA
€29k
-8.4% -96% vs sector
Net profit
€6k
+441.3% -97% vs sector
Cash flow
€25k
+32.9% -75% vs sector
Total assets
€227k
-6.7% -99% vs sector
Equity
€38k
+20.5% -100% vs sector
Working capital
€-162k
+7.4% far below sector median
Income taxes
€3k
-37.2% -91% vs sector
Debt
€189k
-10.8% -99% vs sector
Debt ≤ 1y
€174k
-5.6% -90% vs sector
Debt > 1y
€15k
-45.7% -100% vs sector
Current ratio
0.07
+36.4% -98% vs sector
Quick ratio
0.07
+36.4% -95% vs sector
Solvency
16.7%
+29.2% -75% vs sector
Debt / equity
4.98
-25.9% far above sector median
ROE
17.0%
+349.2% far above sector median
ROA
2.8%
+480.3% far above sector median
Interest coverage
36.22
+799.0% -69% vs sector
Figures by fiscal year
Fiscal year2024
Revenue-
EBITDA€29k
Net profit€6k
Cash flow€25k
Staff costs-
Income taxes€3k
Dividends-
Total assets€227k
Equity€38k
Debt€189k
of which ≤ 1y€174k
of which > 1y€15k
Working capital€-162k
Employees (FTE)-
Ratios (computed)
2024
Current ratio0.07
Quick ratio0.07
Working capital ratio-71.5%
Solvency16.7%
Debt / equity4.98
Long-term debt ratio0.39
Interest coverage36.22
Gross margin-
Net margin-
ROA2.8%
ROE17.0%
EBITDA margin-
Days sales outstanding-
Days payable outstanding-
Inventory turnover-
Days inventory (DSI)-
Balance-sheet composition 2024
Full annual accounts
Filed balance sheet and income statement, exactly as deposited with the NBB.
Line item Code2024
Balance sheet, Assets
TOTAL ASSETS 20/58€227k
Fixed assets 21/28€215k
Tangible fixed assets 22/27€215k
Current assets 29/58€12k
Amounts receivable within one year 40/41€6k
Cash & bank 54/58€5k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES 10/49€227k
Equity 10/15€38k
Contributions / capital 10/11€6k
Accumulated profits (losses) 14€32k
Amounts payable 17/49€189k
Amounts payable after one year 17€15k
Amounts payable within one year 42/48€174k
Trade debts payable within one year 44€554
Income statement
Gross operating margin 9900€32k
Operating result 9901€10k
Financial income 75€0
Financial charges 65€810
Result before taxes 9903€10k
Income taxes 67/77€3k
Net result for the period 9904€6k
Result to be appropriated 9905€6k
You're seeing the latest fiscal year only. Unlock 4 prior years (figures + ratios) with a paid plan. See plans →
Ratios computed by Checked.
Legal Structure
NACE primary Real estate activities(68121)
Legal form Private limited company(610)
Incorporation15-12-2016
StatusActive
Postal code8690
Establishment units 1 location
MADRE
Putstraat 22, 8690 AlveringemOntwikkeling van residentiële bouwprojecten
since 20162.259.872.247
Physical sites registered in the Crossroads Bank for Enterprises (CBE).
Real-estate footprint Source: CBE × cadastre

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Flanders 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
38002C0819/00Y002 Flanders 1,107 m² 1 · 390 m² 4.8 m · 1 fl.
Methodology
via registered seat: 1
1 of 1 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates 9 events

A single timeline of everything that happened to this company, publications, insolvency and lifecycle events, administrative changes and filed annual accounts.

2025
04-07-2025
NBB filing Annual accounts filed
fiscal year 2024 · micro
2024
25-06-2024
NBB filing Annual accounts filed
fiscal year 2023 · micro
2023
19-12-2023
State Gazette act Director changes
Eric dE Grave
18-07-2023
NBB filing Annual accounts filed
fiscal year 2022 · micro
2022
08-07-2022
NBB filing Annual accounts filed
fiscal year 2021 · micro
2021
23-07-2021
NBB filing Annual accounts filed
fiscal year 2020 · micro
2020
10-07-2020
NBB filing Annual accounts filed
fiscal year 2019 · micro
2019
10-07-2019
NBB filing Annual accounts filed
fiscal year 2018 · micro
2018
04-07-2018
NBB filing Annual accounts filed
fiscal year 2017 · micro
Belgisch Staatsblad, acts 1 acts
All acts · 1 updated 2 years ago
2023
19-12-2023 Change in the board of directors Director changes·Eric dE Grave
Notary: Eric dE Grave · Veurne
Technical details 
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  "act_meta": {
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  "decisions": [
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      "body": "buitengewone_algemene_vergadering",
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      "unanimous": true
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  "subject_company": {
    "kbo": "0667.747.802",
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  "co_filed_documents": [
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    "geco\u00F6rdineerde statuten dd. 14 december 2023"
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  "corrected_publication_numac": null
}
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Based on official sources (NBB, CBE, State Gazette). Indicative, not credit advice.
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Company registry (CBE) Crossroads Bank
Activities
Ontwikkeling van residentiële bouwprojecten41101Ontwikkeling van residentiële bouwprojecten68121Ontwikkeling van niet-residentiële bouwprojecten41102Ontwikkeling van niet-residentiële bouwprojecten68122
Primary activity highlighted.
Names & trade names
Legal nameNL MADRE
Registered office
Putstraat 22
8690 Alveringem, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.
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Source: Belgian State Gazette, CBE, NBB · generated via checked.be · indicative