MADRETTOR
ActiveSummary
MADRETTOR is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show negative equity (-€421,034) and a net result of €132,496. Equity is growing by ~12.4% per year across the filed fiscal years. Its solvency ranks better than 5% of 8102 sector peers (fiscal year 2025). The company has been active since 2005 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 8102 sector peers (2025).
NBB · sector comparisonPosition among 8102 sector peers
Solvency
better than 5%
← weakest
strongest →
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 31-03-2026, 122 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
122 d early
2024
1 d early
2023
54 d early
2022
1 d early
2021
2 d early
2020
87 d early
2019
122 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 21 days before the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% 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 July (4 of the last 5 filed years within 51 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
-€421,034▲ 23.9%
2024 · -€553,530
Net result
€132,496▼ 12.4%
2024 · €151,228
Total assets
€14,561▼ 79.1%
2024 · €69,625
Solvency
-2891.5%▼ 2096.5pp
2024 · -795.0%
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€101,293€141,037▲ 39.2%€124,565▼ 11.7%€156,636▲ 25.7%€195,367▲ 24.7%
Net result€99,512above the sector's middle half€139,675above the sector's middle half▲ 40.4%€123,640above the sector's middle half▼ 11.5%€151,228above the sector's middle half▲ 22.3%€132,496above the sector's middle half▼ 12.4%
Equity-€968,073below the sector's middle half▲ 9.3%-€828,398below the sector's middle half▲ 14.4%-€704,758below the sector's middle half▲ 14.9%-€553,530below the sector's middle half▲ 21.5%-€421,034below the sector's middle half▲ 23.9%
Total assets€21,303below the sector's middle half▲ 204%€13,406below the sector's middle half▼ 37.1%€72,984below the sector's middle half▲ 444%€69,625below the sector's middle half▼ 4.6%€14,561below the sector's middle half▼ 79.1%
Debt€989,376▼ 7.9%€841,804▼ 14.9%€777,741▼ 7.6%€623,155▼ 19.9%€435,595▼ 30.1%
Working capital-€968,073below the sector's middle half▲ 9.3%-€828,398below the sector's middle half▲ 14.4%-€728,481below the sector's middle half▲ 12.1%-€578,679below the sector's middle half▲ 20.6%-€412,242below the sector's middle half▲ 28.8%
Solvency-4544.3%below the sector's middle half▲ 10693.5pp-6179.4%below the sector's middle half▼ 1635.0pp-965.6%below the sector's middle half▲ 5213.7pp-795.0%below the sector's middle half▲ 170.6pp-2891.5%below the sector's middle half▼ 2096.5pp
Current ratio0.02below the sector's middle half▲ 0.020.02below the sector's middle half▼ 0.010.01below the sector's middle half▼ 0.010.03below the sector's middle half▲ 0.020.03below the sector's middle half=
Return on assets (ROA)467.1%above the sector's middle half169.4%above the sector's middle half217.2%above the sector's middle half▲ 47.8pp909.9%above the sector's middle half▲ 692.7pp
above
within
below
the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 25% above 2024 and is the highest result in the available series.
Key figures and ratios
Debt ≤ 1 year
€426,803▼
2024 · €597,489
Debt > 1 year
€8,792▼
2024 · €25,667
Income taxes
€15,788▲
2024 · €800
A ratio outside any meaningful range has been withheld (balance sheet total €14,561, equity -€421,034).
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | €7,373 | €14,547 | €0 | ▼ 100% |
| Other operating charges640/8 | €3,183 | €797 | €3,254 | €1,731 | €947 | ▼ 45.3% |
| Gross operating margin9900 | €104,476 | €141,834 | €135,193 | €172,914 | €196,313 | ▲ 13.5% |
| Operating profit (loss)9901 | €101,293 | €141,037 | €124,565 | €156,636 | €195,367 | ▲ 24.7% |
| Financial income75/76B | €0 | - | €4,353 | €0 | - | - |
| Recurring financial income75 | €0 | - | €4,353 | €0 | - | - |
| Non-recurring financial income76B | - | - | €4,353 | €0 | - | - |
| Financial charges65/66B | €1,593 | €803 | €4,214 | €4,609 | €47,082 | ▲ 922% |
| Recurring financial charges65 | €1,593 | €803 | €4,214 | €4,609 | €5,690 | ▲ 23.5% |
| Non-recurring financial charges66B | - | - | - | - | €41,392 | - |
| Profit (loss) for the period before taxes9903 | €99,701 | €140,234 | €124,704 | €152,028 | €148,285 | ▼ 2.5% |
| Income taxes67/77 | €189 | €559 | €1,064 | €800 | €15,788 | ▲ 1,874% |
| Profit (loss) for the period9904 | €99,512 | €139,675 | €123,640 | €151,228 | €132,496 | ▼ 12.4% |
| Profit (loss) for the period to be appropriated9905 | €99,512 | €139,675 | €123,640 | €151,228 | €132,496 | ▼ 12.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €21,303 | €13,406 | €72,984 | €69,625 | €14,561 | ▼ 79.1% |
| Fixed assets21/28 | - | - | €65,363 | €50,816 | €0 | ▼ 100% |
| Tangible fixed assets22/27 | - | - | €65,363 | €50,816 | €0 | ▼ 100% |
| Furniture and vehicles24 | - | - | €65,363 | €50,816 | €0 | ▼ 100% |
| Current assets29/58 | €21,303 | €13,406 | €7,621 | €18,810 | €14,561 | ▼ 22.6% |
| Amounts receivable within one year40/41 | €16,998 | €10,826 | €2,685 | €0 | - | - |
| Trade receivables40 | €16,988 | €10,826 | €2,685 | €0 | - | - |
| Other amounts receivable41 | €10 | €0 | - | - | - | - |
| Cash at bank and in hand54/58 | €4,305 | €1,847 | €2,718 | €14,794 | €14,561 | ▼ 1.6% |
| Deferred charges and accrued income490/1 | - | €733 | €2,219 | €4,015 | €0 | ▼ 100% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €21,303 | €13,406 | €72,984 | €69,625 | €14,561 | ▼ 79.1% |
| Equity10/15 | -€968,073 | -€828,398 | -€704,758 | -€553,530 | -€421,034 | ▲ 23.9% |
| Contributions10/11 | €256,200 | €256,200 | €256,200 | €256,200 | €256,200 | = |
| Capital10 | €256,200 | €256,200 | €256,200 | €256,200 | €256,200 | = |
| Issued capital100 | €268,592 | €268,592 | €268,592 | €268,592 | €268,592 | = |
| Uncalled capital101 | €12,392 | €12,392 | €12,392 | €12,392 | €12,392 | = |
| Reserves13 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Non-distributable reserves130/1 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Legal reserve130 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Profit (loss) carried forward14 | -€1.2m | -€1.1m | -€962,817 | -€811,589 | -€679,093 | ▲ 16.3% |
| Amounts payable17/49 | €989,376 | €841,804 | €777,741 | €623,155 | €435,595 | ▼ 30.1% |
| Amounts payable after more than one year17 | - | - | €41,640 | €25,667 | €8,792 | ▼ 65.7% |
| Financial debts170/4 | - | - | €41,640 | €25,667 | €8,792 | ▼ 65.7% |
| Amounts payable within one year42/48 | €989,376 | €841,804 | €736,101 | €597,489 | €426,803 | ▼ 28.6% |
| Current portion of amounts payable after more than one year42 | - | - | €15,111 | €15,973 | €16,875 | ▲ 5.6% |
| Trade debts44 | €45 | €546 | €384 | €2,813 | €83 | ▼ 97.1% |
| Suppliers440/4 | €45 | €546 | €384 | €2,813 | €83 | ▼ 97.1% |
| Taxes, remuneration and social security45 | €9,331 | €9,258 | €606 | €8,702 | €14,845 | ▲ 70.6% |
| Taxes450/3 | €9,331 | €9,258 | €606 | €8,702 | €14,845 | ▲ 70.6% |
| Other amounts payable47/48 | €980,000 | €832,000 | €720,000 | €570,000 | €395,000 | ▼ 30.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €99,512 | €139,675 | €123,640 | €151,228 | €132,496 | ▼ 12.4% |
| + Depreciation and write-downs630 | - | - | €7,373 | €14,547 | €0 | ▼ 100% |
| Operating cash flow (approximation) | €99,512 | €139,675 | €131,014 | €165,775 | €132,496 | ▼ 20.1% |
| Investment in fixed assets (approximation) | - | - | - | €0 | €50,816 | - |
| Change in cash | - | -€2,458 | €871 | €12,077 | -€233 | ▼ 102% |
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
31-03
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2018net €151,228 ▲22.3%
Net result €151,228, the highest in the series.
07-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
29-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €99,512
Net result €99,512 after 3 loss-making years.
05-05
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 122 days late
2019
08-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 8 days late
2018
24-09
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 55 days late
2017
07-09
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 38 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 9 acts read
About the unread acts
We know of 9 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
No directors read yet: 0 of 9 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Duffel · 1 establishment unit since 2005
Ground area
1,010 m²
Building footprint
172 m²
Volume, LiDAR
1 m³
Parcel 12009A0328/00H000, Flanders · tallest building 0.1 m. Linked by address, not a title deed.
1 establishment unit
-
since 20052.145.420.264
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12009A0328/00H000 | Flanders | 1,009 m² | 1 · 172 m² | 0.1 m |
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.
Subsidies and aid
Flemish government
2023 · 1 entry · 180 EUR awarded · 90 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 180 EUR | 90 EUR |
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 24,721 companies in this sector we hold annual accounts for 19,804. See the whole sector
Company details
Identification
Legal formPublic limited company
Founded15-02-2005
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
E-invoicing
Reachable via Peppol
Peppol ID
0208:0871906670
Also
9925:BE0871906670
Registered
28-03-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.