MADS
ActiveThe computed 12-month bankruptcy probability of MADS is 2.5% (moderate). The 2026 annual accounts show negative equity (€-167k) and a net result of €71k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 9% of 50 sector peers (fiscal year 2026). The company has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2026
40
/ 100
Weak
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2025
Profitability100▲+100
Solvency0=
Growth64▲+17
Track record100
Bankruptcy probability, 12 months
2.5%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.65 against 0.38 in 2025; short-term debt: 153.2% and cash: 1.8% of total assets), and equity is negative.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
+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 56
Relative position
BE, all sectors
reference
Sector 56
higher
← 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 2026Solvency, return and age of the figures
Solvency
-214.7%
Return on assets
91.3%
Age of the figures
6 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 9% of 50 sector peers (2026).
NBB · sector comparisonPosition among 50 sector peers
Solvency
better than 9%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2026 was due by 31-10-2026 and was filed on 29-05-2026, 155 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2026
155 d early
2025
185 d early
2024
20 d early
2023
62 d early
2022
147 d early
2021
2 d late
2020
176 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-03-2027 and is due by 31-10-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
16-09-2026 today31-03-2027 close31-10-2027 deadline
Financials · fiscal year 2026, micro schema
Turnover
€155k▲ 261%
2023 · €43k
2019: €85k
2020: €72k
2021: €70k
2022: €131k
2023: €43k
2019 → 2024
EBIT margin
-36.3%▲ 170.0pp
2023 · -206.3%
2019: 10.4%
2020: -35.1%
2021: -11.7%
2022: 2.8%
2023: -206.3%
2019 → 2024
Net result
€71k
2025 · €-88k
2019: €6k
2020: €-28k
2021: €-11k
2022: €776
2023: €-98k
2024: €-69k
2025: €-88k
2019 → 2026
Working capital
€-41k▲ 43.8%
2025 · €-74k
2019: €10k
2020: €-20k
2021: €-27k
2022: €-33k
2023: €13k
2024: €-115k
2025: €-74k
2019 → 2026
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20222023202420252026Trend
Turnover€131k-€43k▼ 67.3%€155k▲ 261%
Equity€16k-€-82k€-150k▼ 83.8%€-238k▼ 58.5%€-167k▲ 29.8%
Operating result€4k-€-89k€-56k▲ 36.4%€-72k▼ 28.2%€80k
Net result€776-€-98k€-69k▲ 29.8%€-88k▼ 28.4%€71k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2026: €80k after a loss of €72k in 2025, the highest result in the available series.
Key figures and ratios
Solvency
-214.7%▲
2025 · -525.0%
Current ratio
0.65▲
2025 · 0.38
Quick ratio
0.65▲
2025 · 0.38
Debt / equity
-1.47▼
2025 · -1.19
ROA
91.3%▲
2025 · -193.8%
Debt
€245k▼
2025 · €284k
Debt ≤ 1 year
€119k▲
2025 · €119k
Debt > 1 year
€124k▼
2025 · €162k
Income taxes
€74▼
2025 · €262
Staff costs
€2k▼
2025 · €20k
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 · 2026 against 2025
Balance sheet
Code20252026
Assets
Total assets20/58€45k€78k▲
Current assets29/58€45k€78k▲
Amounts receivable within one year40/41€45k€76k▲
Trade receivables40€12k€10k▼
Other amounts receivable41€33k€67k▲
Cash at bank and in hand54/58€519€1k▲
Equity and liabilities
Total equity and liabilities10/49€45k€78k▲
Equity10/15€-238k€-167k▲
Contributions10/11€49k€49k=
Capital10€49k€49k=
Issued capital100€49k€49k=
Reserves13€2k€2k=
Non-distributable reserves130/1€2k€2k=
Legal reserve130€2k€2k=
Profit (loss) carried forward14€-289k€-218k▲
Amounts payable17/49€284k€245k▼
Amounts payable after more than one year17€162k€124k▼
Financial debts170/4€162k€124k▼
Amounts payable within one year42/48€119k€119k▲
Current portion of amounts payable after more than one year42€37k€39k▲
Taxes, remuneration and social security45€12k€6k▼
Taxes450/3€10k€6k▼
Remuneration and social security454/9€2k-
Other amounts payable47/48€70k€74k▲
Accrued charges and deferred income492/3€3k€2k▼
Income statement
Code20252026
Remuneration, social security and pensions62€20k€2k▼
Other operating charges640/8€108k€400▼
Gross operating margin9900€56k€82k▲
Operating profit (loss)9901€-72k€80k▲
Financial income75/76B€919€935▲
Recurring financial income75€919€935▲
Financial charges65/66B€16k€9k▼
Recurring financial charges65€16k€9k▼
Profit (loss) for the period before taxes9903€-88k€71k▲
Income taxes67/77€262€74▼
Profit (loss) for the period9904€-88k€71k▲
Profit (loss) for the period to be appropriated9905€-88k€71k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-289k€-218k▲
Profit (loss) brought forward from the previous period14P€-201k€-289k▼
The notes to these accounts (5 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 2027, expected by
2026
29-05
NBB filing
Annual accounts filed
fiscal year 2026 · micro schema
31-03
Financial
Back to profitnet €71k
Net result €71k after 3 loss-making years.
2025
29-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2024
11-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2023
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
31-03
Financial
Weakest financial yearnet €-98k ▼12674%
Net result drops to €-98k, the lowest in the series; recovery starts the following year.
31-03
Financial
Liquidity triplescurrent ratio 1.21
Current ratio from 0.41 to 1.21.
2022
06-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
31-03
Financial
Back to profitnet €776
Net result €776 after 2 loss-making years.
2021
02-11
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 2 days late
2020
08-05
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2019
22-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
5 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, Theux · 1 establishment unit since 2017
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.
Rue Thier May 604910 TheuxGround area
2,401 m²
Building footprint
137 m²
Volume, LiDAR
695 m³
2 parcels, Wallonia · tallest building 6.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
LE KUALIA
since 20172.272.942.602
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 63079D0407/00N007 | Wallonia | 1,374 m² | - | - |
| 63076B1259/00H000 | Wallonia | 1,026 m² | 1 · 137 m² | 6.8 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.
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Of 20,506 companies in sector 56111 we hold annual accounts for 11,453. 8,265 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded16-06-2017
Fiscal year end31-03
Activities, NACEBEL
56101Full-service restaurants
56111Full-service restaurants
70200Business and other management consultancy
70210Activities of head offices; management consultancy activities
70220Business consulting
73300Public relations and communication consultancy
82100Office administrative and support services
82110Office administrative, office support and other business support activities
82990Other business support services
Sources
Crossroads Bank for EnterprisesNational Bank · 8 filingsAddress and cadastre registers
Data from official sources, last processed on 16-09-2026. Scores and ratios are computed by Checked and are not a credit decision.