MIADE
ActiveSummary
MIADE has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €50,249 and a net result of €16,027. Equity is growing by ~8.1% per year across the filed fiscal years. Its solvency ranks better than 59% of 14173 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability85▲+19
Solvency67▲+4
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3,500 at 30 days acceptable
Liquidity ample (current ratio 1.94 against 1.97 in 2024; short-term debt: 49.5% and cash: 1.2% of total assets), but 58.4% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer 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
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
41.6%
Return on assets
13.3%
Age of the figures
9 mo
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 02-06-2026, 59 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
59 d early
2024
71 d early
2023
56 d early
2022
61 d early
2021
17 d early
2020
40 d early
2019
44 d early
← 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 50 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% 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.
Companies Code · seven monthsPosition in the running window
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€50,249▲ 46.8%
2024 · €34,223
Total assets
€120,801▲ 33.4%
2024 · €90,567
Net result
€16,027
2024 · -€1,753
Working capital
€56,011▲ 62.6%
2024 · €34,447
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
Line20212022202320242025
Operating result€19,204▲ 28.6%€21,538▲ 12.2%-€8,242€3,505€24,245▲ 592%
Net result€11,143▲ 33.3%€12,784▲ 14.7%-€11,699-€1,753▲ 85.0%€16,027
Equity€42,034▲ 36.1%€47,675▲ 13.4%€35,976▼ 24.5%€34,223▼ 4.9%€50,249▲ 46.8%
Total assets€57,446▲ 7.0%€131,937▲ 130%€104,466▼ 20.8%€90,567▼ 13.3%€120,801▲ 33.4%
Debt€15,413▼ 32.4%€84,262▲ 447%€68,491▼ 18.7%€56,344▼ 17.7%€70,552▲ 25.2%
Working capital€37,586▲ 81.3%-€5,733€29,152€34,447▲ 18.2%€56,011▲ 62.6%
Turnover and EBIT margin not published: the 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 592% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €120,801
Fixed assets
€5,022 ▼ 75.7%
Current assets
€115,779 ▲ 65.6%
Equity and liabilities €120,801
Equity
€50,249 ▲ 46.8%
Debt
€70,552 ▲ 25.2%
Debt's share of the balance-sheet total falls from 62.2% to 58.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€42,621▲
2024 · €21,289
Cash flow
€34,403▲
2024 · €16,031
Current ratio
1.94▼
2024 · 1.97
Debt to equity
1.40▼
2024 · 1.65
ROE
31.9%▲
2024 · -5.1%
ROA
13.3%▲
2024 · -1.9%
Interest coverage
24.43▲
2024 · 10.14
Debt ≤ 1 year
€59,768▲
2024 · €35,476
Debt > 1 year
€10,784▼
2024 · €20,324
Income taxes
€6,475▲
2024 · €3,159
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 | €8,897 | €1,446 | €18,026 | €17,784 | €18,377 | ▲ 3.3% |
| Other operating charges640/8 | €1,327 | €2,347 | €3,412 | €1,485 | €1,531 | ▲ 3.1% |
| Non-recurring operating charges66A | - | - | - | - | €204 | - |
| Gross operating margin9900 | €29,428 | €25,331 | €13,196 | €22,774 | €44,357 | ▲ 94.8% |
| Operating profit (loss)9901 | €19,204 | €21,538 | -€8,242 | €3,505 | €24,245 | ▲ 592% |
| Financial income75/76B | €0 | €25 | €21 | €0 | €1 | ▲ 195% |
| Recurring financial income75 | €0 | €25 | €21 | €0 | €1 | ▲ 195% |
| Financial charges65/66B | €647 | €803 | €2,365 | €2,099 | €1,745 | ▼ 16.9% |
| Recurring financial charges65 | €647 | €803 | €2,365 | €2,099 | €1,745 | ▼ 16.9% |
| Profit (loss) for the period before taxes9903 | €18,558 | €20,759 | -€10,587 | €1,406 | €22,501 | ▲ 1,500% |
| Income taxes67/77 | €7,415 | €7,975 | €1,113 | €3,159 | €6,475 | ▲ 105% |
| Profit (loss) for the period9904 | €11,143 | €12,784 | -€11,699 | -€1,753 | €16,027 | ▲ 1,014% |
| Transfer from tax-exempt reserves789 | €4,500 | €0 | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €15,643 | €12,784 | -€11,699 | -€1,753 | €16,027 | ▲ 1,014% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €57,446 | €131,937 | €104,466 | €90,567 | €120,801 | ▲ 33.4% |
| Fixed assets21/28 | €4,563 | €53,408 | €36,771 | €20,644 | €5,022 | ▼ 75.7% |
| Tangible fixed assets22/27 | €3,213 | €52,058 | €35,421 | €19,294 | €3,672 | ▼ 81.0% |
| Plant, machinery and equipment23 | €2,783 | €821 | €1,279 | €2,247 | €1,780 | ▼ 20.8% |
| Furniture and vehicles24 | €430 | €51,237 | €34,142 | €17,048 | €1,892 | ▼ 88.9% |
| Financial fixed assets28 | €1,350 | €1,350 | €1,350 | €1,350 | €1,350 | = |
| Current assets29/58 | €52,884 | €78,529 | €67,696 | €69,922 | €115,779 | ▲ 65.6% |
| Amounts receivable after more than one year29 | €0 | - | - | - | - | - |
| Trade receivables290 | €0 | - | - | - | - | - |
| Amounts receivable within one year40/41 | €43,190 | €65,407 | €61,720 | €61,225 | €110,886 | ▲ 81.1% |
| Trade receivables40 | €2,865 | €15,058 | €11,516 | €11,021 | €14,641 | ▲ 32.8% |
| Other amounts receivable41 | €40,325 | €50,349 | €50,204 | €50,204 | €96,245 | ▲ 91.7% |
| Cash at bank and in hand54/58 | €5,636 | €8,500 | €2,068 | €4,790 | €1,476 | ▼ 69.2% |
| Deferred charges and accrued income490/1 | €4,058 | €4,622 | €3,908 | €3,906 | €3,417 | ▼ 12.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €57,446 | €131,937 | €104,466 | €90,567 | €120,801 | ▲ 33.4% |
| Equity10/15 | €42,034 | €47,675 | €35,976 | €34,223 | €50,249 | ▲ 46.8% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €35,834 | €41,475 | €39,615 | €39,615 | €44,049 | ▲ 11.2% |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €0 | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €0 | - | - | - |
| Tax-exempt reserves132 | €0 | - | - | - | - | - |
| Distributable reserves133 | €33,974 | €39,615 | €39,615 | €39,615 | €44,049 | ▲ 11.2% |
| Profit (loss) carried forward14 | €0 | €0 | -€9,839 | -€11,592 | €0 | ▲ 100% |
| Amounts payable17/49 | €15,413 | €84,262 | €68,491 | €56,344 | €70,552 | ▲ 25.2% |
| Amounts payable after more than one year17 | €0 | - | €29,482 | €20,324 | €10,784 | ▼ 46.9% |
| Financial debts170/4 | €0 | - | €29,482 | €20,324 | €10,784 | ▼ 46.9% |
| Amounts payable within one year42/48 | €15,298 | €84,262 | €38,544 | €35,476 | €59,768 | ▲ 68.5% |
| Current portion of amounts payable after more than one year42 | €3,814 | €0 | €8,792 | €9,158 | €9,540 | ▲ 4.2% |
| Trade debts44 | €4,169 | €52,978 | €1,075 | €3,277 | €2,719 | ▼ 17.0% |
| Suppliers440/4 | €4,169 | €52,978 | €1,075 | €3,277 | €2,719 | ▼ 17.0% |
| Taxes, remuneration and social security45 | €4,006 | €13,426 | €10,800 | €5,933 | €8,394 | ▲ 41.5% |
| Taxes450/3 | €4,006 | €13,426 | €10,800 | €5,933 | €8,394 | ▲ 41.5% |
| Other amounts payable47/48 | €3,309 | €17,859 | €17,876 | €17,108 | €39,115 | ▲ 129% |
| Accrued charges and deferred income492/3 | €115 | €0 | €466 | €545 | €0 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €11,143 | €12,784 | -€11,699 | -€1,753 | €16,027 | ▲ 1,014% |
| + Depreciation and write-downs630 | €8,897 | €1,446 | €18,026 | €17,784 | €18,377 | ▲ 3.3% |
| Operating cash flow (approximation) | €20,040 | €14,230 | €6,327 | €16,031 | €34,403 | ▲ 115% |
| Investment in fixed assets (approximation) | - | -€50,291 | -€1,389 | -€1,658 | -€2,754 | ▼ 66.2% |
| Change in cash | - | €2,864 | -€6,432 | €2,723 | -€3,315 | ▼ 222% |
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
02-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Back to profitnet €16,027
Net result €16,027 after 2 loss-making years.
21-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
05-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet -€11,699
Net result drops to -€11,699, the lowest in the series; recovery starts the following year.
31-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
14-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
21-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Back to profitnet €8,356
Net result €8,356 after one loss-making year.
17-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
26-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
31-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
28-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Grez-Doiceau · 1 establishment unit since 2012
Ground area
1,660 m²
Building footprint
177 m²
Parcel 25037G0461/00P000, Wallonia. Linked by address, not a title deed.
1 establishment unit
MIADE
since 20122.208.252.213
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25037G0461/00P000 | Wallonia | 1,660 m² | 1 · 176 m² | - |
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
Legal Entity Identifier
549300V2W1Y665HBNI46
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Of 11,756 companies in sector 68310 we hold annual accounts for 6,906. 4,858 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
Founded28-03-2012
Fiscal year end31-12
Activities, NACEBEL 2025
68310Real estate agency activities
43320Joinery installation
47781Retail sale of solid, liquid and gaseous fuels, excluding motor fuels
71121Engineering and related technical consultancy, excluding land surveyors
74120Graphic design and visual communication
74130Interior design
Scores and ratios are computed by Checked and are not a credit decision.