MADEGRO is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2024 annual accounts show equity of €571k and a net result of €14k. Equity remains stable across the filed fiscal years (±0.7% per year). Its solvency ranks better than 92% of 9864 sector peers (fiscal year 2024). The company has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The health 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.
Credit advice for your own amount and term
Signals
Two signals. The signal on the left, the evidence on the right.
○neutral
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 28-10-2025, 89 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 9 filingsDeviation from the deadline
2025
not confirmed
2024
89 d late
2023
on the day
2022
31 d late
2021
31 d late
2020
31 d late
2019
52 d late
← before the deadline
after the deadline →
Financials · fiscal year 2024, micro schema
Equity
€571k▲ 2.5%
2023 · €557k
2018: €537k
2019: €560k
2020: €573k
2021: €576k
2022: €551k
2023: €557k
2018 → 2024
Net result
€14k▲ 120%
2023 · €6k
2018: €17k
2019: €23k
2020: €13k
2021: €3k
2022: €-25k
2023: €6k
2018 → 2024
Total assets
€609k▼ 22.2%
2023 · €783k
2018: €588k
2019: €617k
2020: €652k
2021: €659k
2022: €689k
2023: €783k
2018 → 2024
Solvency
93.8%▲ 22.6pp
2023 · 71.1%
2018: 91.3%
2019: 90.8%
2020: 87.9%
2021: 87.5%
2022: 80.0%
2023: 71.1%
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€573k-€576k▲ 0.5%€551k▼ 4.3%€557k▲ 1.1%€571k▲ 2.5%
Operating result€17k-€2k▼ 87.0%€-27k€6k€12k▲ 114%
Net result€13k-€3k▼ 80.1%€-25k€6k€14k▲ 120%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 114% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €609k
Fixed assets
€213k▼ 6.0%
Current assets
€396k▼ 28.9%
Equity and liabilities €609k
Equity
€571k▲ 2.5%
Debt
€38k▼ 83.2%
The debt ratio falls from 28.9% to 6.2%. Equity is higher and debt is lower.
Key figures and ratios
Solvency
93.8%▲
2023 · 71.1%
ROE
2.4%▲
2023 · 1.1%
ROA
2.3%▲
2023 · 0.8%
Debt
€38k▼
2023 · €226k
Debt ≤ 1 year
€35k▼
2023 · €226k
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 · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€783k€609k▼
Fixed assets21/28€227k€213k▼
Tangible fixed assets22/27€227k€213k▼
Land and buildings22€227k€213k▼
Financial fixed assets28€186€186=
Current assets29/58€556k€396k▼
Amounts receivable within one year40/41€368k€176k▼
Trade receivables40€334k€26k▼
Other amounts receivable41€34k€150k▲
Current investments50/53€69k€199k▲
Cash at bank and in hand54/58€119k€21k▼
Deferred charges and accrued income490/1€803-
Equity and liabilities
Total equity and liabilities10/49€783k€609k▼
Equity10/15€557k€571k▲
Contributions10/11€413k€413k=
Reserves13€145k€159k▲
Non-distributable reserves130/1€15k€15k=
Reserves not available under the articles1311€15k€15k=
Distributable reserves133€130k€144k▲
Amounts payable17/49€226k€38k▼
Amounts payable within one year42/48€226k€35k▼
Trade debts44€190k€9k▼
Suppliers440/4€190k€9k▼
Taxes, remuneration and social security45€1k-
Taxes450/3€1k-
Other amounts payable47/48€35k€26k▼
Accrued charges and deferred income492/3€374€3k▲
Income statement
Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€15k€14k▼
Other operating charges640/8€5k€5k▲
Gross operating margin9900€26k€30k▲
Operating profit (loss)9901€6k€12k▲
Financial income75/76B€1k€4k▲
Recurring financial income75€1k€4k▲
Financial charges65/66B€437€2k▲
Recurring financial charges65€437€2k▲
Profit (loss) for the period before taxes9903€6k€14k▲
Profit (loss) for the period9904€6k€14k▲
Profit (loss) for the period to be appropriated9905€6k€14k▲
Appropriation of the result
Profit (loss) to be appropriated9906€6k€14k▲
Transfer to equity691/2€6k€14k▲
To other reserves6921€6k€14k▲
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
2025
28-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 89 days late
2024
31-12
Financial
Liquidity times 5current ratio 11.17
Current ratio from 2.46 to 11.17; short-term debt falls from €226k to €35k.
31-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €6k
Net result €6k after one loss-making year.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
31-12
Financial
Weakest financial yearnet €-25k ▼1041%
Net result drops to €-25k, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
21-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 52 days late
2019
31-12
Financial
Highest result since 2018net €23k ▲38%
Operating result €28k, net result €23k, both a record.
30-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 61 days late
2018
22-10
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 83 days late
2017
10-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 10 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
1 act for this company is 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, Mechelen · 1 establishment unit since 2016
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.
Koningin Astridlaan 1082800 MechelenGround area
129 m²
Building footprint
88 m²
Volume, LiDAR
1,039 m³
Parcel 12404F0621/00S002, Flanders · tallest building 21.9 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
MADEGRO
since 20162.257.579.780
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12404F0621/00S002 | Flanders | 129 m² | 1 · 88 m² | 21.9 m · 5 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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ARCALIS
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Of 24,728 companies in sector 64210 we hold annual accounts for 19,762. 13,525 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company (pre-2019)
Founded26-08-2016
Fiscal year end31-12
Activities, NACEBEL
64200Holdings
64210Activities of holding companies
68110Buying and selling of own real estate
68201Renting and operating of own or leased residential real estate, excluding social housing
68202Real estate activities
68321Property management for co-owned buildings (syndics)
68322Real estate activities
Sources
Crossroads Bank for EnterprisesNational Bank · 9 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
1 entryE-mail:j.degroote@entecomsystems.eu