MAD-ness · Checked.be

Summary

Conclusion

the dossier summarised in one paragraph

The computed 12-month bankruptcy probability of MAD-ness is 2.6% (moderate). The 2025 annual accounts show equity of €2k and a net result of €262. Equity is growing by ~411% per year across the filed fiscal years. Its solvency ranks better than 10% of 334 sector peers (fiscal year 2025). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 3 annual accounts.

Signals

2 signals · with evidence

Weak solvency vs sector

Solvency (equity / total assets) is in the sector's weakest quartile: better than 10% of 334 sector peers (2025).

View the sector comparison

Consistently profitable

Positive net result in the two most recent financial years (2024 and 2025).

View the result trend

Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.

Filing behaviour

From the deposit records, complete market-wide

Latest accounts filed on time

The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 30-01-2026, 1 days ahead of the deadline. This speaks to administrative punctuality and says nothing about the financial position.

The next deadline is still running

The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.

How we compute the deadline

The year end is derived from 3 filed financial years, each closing on 30-06. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 30-06-2025, that is 31-01-2026.

Deadline per financial year

Year closed	Due by	Filed	Variance	Reference
30-06-2025	31-01-2026	30-01-2026	1 d early	2026-00034312
30-06-2024	31-01-2025	12-02-2025	12 d late	2025-00033417
30-06-2023	31-01-2024	31-01-2024	on the day	2024-00025545

Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.

Trust signals

2 signals

More than 3 years active

Founded in 2021, past the statistically most fragile first 3 years.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Bankruptcy probability (12 mo)

Checked model v1 · free for everyone

2.6% Moderate

0%0,5%1,5%4%10%≥25%

Young company +Higher-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?

Financials

TurnoverNot published (abbreviated filing)

EBIT marginNot published (abbreviated filing)

Net result€262-98.3%

Working capital€1k+133.7%

CSV export

Annual accounts & ratios

Source: NBB · 2025

Annual accounts filed on 30-01-2026 with the NBB · fiscal year 2025 · verkort

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 ~411%/year over 3 fiscal years, indicative, assuming unchanged policy.

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 2025 · NACE 43, Specialised construction · compared within the same schema type (abbreviated schema)

Metric	This company	Sector median	Position in the sector
Solvency	5.3%	38.9%	better than 10% of 334 sector peers
Net result	€262	€40k	better than 16% of 334 sector peers
Equity	€2k	€189k	better than 9% of 334 sector peers
Gross operating margin	€1k	€223k	better than 6% of 334 sector peers
Employees (FTE)	0.0	3.5	better than 8% of 204 sector peers

Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.

Sector position over time

Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).

Solvency P10

Stable position over 2023-2025 · n=334-992

Net result P16

Stable position over 2023-2025 · n=334-991

Equity P9

Stable position over 2023-2025 · n=334-992

Gross operating margin P6

Stable position over 2023-2025 · n=334-991

Describes the position versus peers, not a forecast.

EBITDA

€815

-95.0% 23-25

Net profit

€262

-98.3% 23-25

Cash flow

€714

-95.6% 23-25

Total assets

€36k

-27.8% 23-25

Equity

€2k

+15.6% 23-25

Working capital

€1k

+133.7% 23-25

Employees (FTE)

0

- 23-25

Debt

€35k

-29.3% 23-25

Debt ≤ 1y

€35k

-29.3% 23-25

Current ratio

1.04

+2.5% 23-25

Quick ratio

0.28

+65.7% 23-25

Solvency

5.3%

+60.1% 23-25

Debt / equity

17.81

-38.8% 23-25

ROE

13.5%

-98.6% 23-25

ROA

0.7%

-97.7% 23-25

Interest coverage

8.04

-95.3% 23-25

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2025
Deposit	verkort
Revenue	-
EBITDA	€815
Net profit	€262
Cash flow	€714
Staff costs	-
Income taxes	-
Dividends	-
Total assets	€36k
Equity	€2k
Debt	€35k
of which ≤ 1y	€35k
of which > 1y	-
Working capital	€1k
Employees (FTE)	0.0

Ratios (computed)

	2025
Current ratio	1.04
Quick ratio	0.28
Working capital ratio	3.4%
Solvency	5.3%
Debt / equity	17.81
Long-term debt ratio	-
Interest coverage	8.04
Gross margin	-
Net margin	-
ROA	0.7%
ROE	13.5%
EBITDA margin	-
Days sales outstanding	-
Days payable outstanding	-
Inventory turnover	-
Days inventory (DSI)	-

Balance-sheet composition 2025

Equity & liabilities

Equity €2k · 5.3% Debt €35k · 94.7%

Full annual accounts

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2025
Balance sheet, Assets
TOTAL ASSETS	20/58	€36k
Formation expenses	20	€688
Current assets	29/58	€36k
Stocks & contracts in progress	3	€26k
Amounts receivable within one year	40/41	€1k
Cash & bank	54/58	€8k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€36k
Equity	10/15	€2k
Contributions / capital	10/11	€2k
Accumulated profits (losses)	14	€-63
Amounts payable	17/49	€35k
Amounts payable within one year	42/48	€35k
Trade debts payable within one year	44	€460
Income statement
Gross operating margin	9900	€1k
Operating result	9901	€363
Financial income	75	€0
Financial charges	65	€101
Result before taxes	9903	€262
Net result for the period	9904	€262
Result to be appropriated	9905	€262

You're seeing the latest fiscal year only. Unlock 2 prior years (figures + ratios) with a paid plan. See plans →

Ratios computed by Checked.

Health barometer

FY 2025 · computed

58 / 100 Fair

050100

Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

Unlock the full score breakdown, per-year score history and the indicative credit limit from Kantoor S.

See plans →

Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.

Structure & network

Locations & real estate

Registered office

from the Crossroads Bank

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.

Stadenstraat 33A8610 Kortemark

Establishment units

1 location

MAD-ness

Stadenstraat 33A, 8610 KortemarkBouw van speel- en sportterreinen, zwembaden, enz

since 20212.326.357.136

Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Parcels1

Ground area2,465 m²

Buildings1

Building footprint621 m²

Volume (LiDAR)4,254 m³

Tallest building8.2 m · ±2 fl.

Real-estate footprint

Source: CBE × cadastre · address linking

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.
32027A1046/00C000	Flanders	2,465 m²	1 · 621 m²	8.2 m · 2 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.

Publications

Lifecycle & Insolvency Signals

No insolvency signals in the Belgian State Gazette

Belgian State Gazette · acts

No structured acts for this company yet

That means one of two things: the company has published no company deeds, or its deeds are still queued for reading. The insolvency signals above come from a separate source; the KBO register is the second source and appears as the legal situation on this page.

Analysis

Snowflake analysis

financial profile on 5 axes

63 / 100

Strong profile, led by stability.

All 5 axes are computed from data Checked has read.

Health 58

Profitability 68

Solvency 16

Growth 78

Stability 94

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