MADENOR
ActiveMADENOR has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €407k and a net result of €74k. Equity is growing by ~18.3% per year across the filed fiscal years. Its solvency ranks better than 80% of 31061 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
93
/ 100
Excellent▼ -7 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability91▼-6
Solvency100=
Growth78=
Stability100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €40k at 30 days acceptable
Liquidity ample (current ratio 4.1 against 7.82 in 2024), and 16.8% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Sector 70
lower
← fewer bankruptcies
more bankruptcies →
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
83.2%
Return on assets
15.2%
Age of the figures
8 mo
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
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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 · 10 filingsDeviation from the deadline
2025
31 d late
2024
29 d late
2023
30 d late
2022
60 d late
2021
31 d late
2020
61 d late
2019
91 d late
← before the deadline
after the deadline →
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
07-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€407k▲ 4.4%
2024 · €390k
2019: €138k
2020: €156k
2021: €220k
2022: €263k
2023: €314k
2024: €390k
2019 → 2025
Total assets
€489k▲ 7.9%
2024 · €454k
2019: €168k
2020: €176k
2021: €289k
2022: €322k
2023: €384k
2024: €454k
2019 → 2025
Net result
€74k▼ 2.1%
2024 · €76k
2019: €30k
2020: €18k
2021: €64k
2022: €43k
2023: €51k
2024: €76k
2019 → 2025
Working capital
€255k▼ 24.8%
2024 · €340k
2019: €101k
2020: €121k
2021: €123k
2022: €171k
2023: €245k
2024: €340k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€220k-€263k▲ 19.6%€314k▲ 19.5%€390k▲ 24.2%€407k▲ 4.4%
Operating result€91k-€64k▼ 29.6%€79k▲ 23.6%€115k▲ 45.4%€111k▼ 3.8%
Net result€64k-€43k▼ 32.4%€51k▲ 19.0%€76k▲ 48.2%€74k▼ 2.1%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 4% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €489k
Fixed assets
€152k▲ 136%
Current assets
€338k▼ 13.3%
Equity and liabilities €489k
Equity
€407k▲ 4.4%
Debt
€82k▲ 29.3%
The debt ratio rises from 14.0% to 16.8%: debt grows faster than equity.
Key figures and ratios
EBITDA
€142k▼
2024 · €145k
Cash flow
€106k=
2024 · €106k
Solvency
83.2%▼
2024 · 86.0%
Current ratio
4.10▼
2024 · 7.82
Quick ratio
4.10▼
2024 · 7.82
Debt / equity
0.20▲
2024 · 0.16
ROE
18.3%▼
2024 · 19.5%
ROA
15.2%▼
2024 · 16.7%
Interest coverage
31.54▼
2024 · 135.91
Debt
€82k▲
2024 · €64k
Debt ≤ 1 year
€82k▲
2024 · €50k
Income taxes
€39k▲
2024 · €38k
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 · 2025 against 2024
Balance sheet
Code20242025
Total assets20/58€454k€489k▲
Fixed assets21/28€64k€152k▲
Tangible fixed assets22/27€64k€152k▲
Current assets29/58€389k€338k▼
Amounts receivable within one year40/41€224k€251k▲
Cash & bank54/58€139k€65k▼
Total equity & liabilities10/49€454k€489k▲
Equity10/15€390k€407k▲
Contributions / capital10/11€6k€6k=
Reserves13€384k€401k▲
Amounts payable17/49€64k€82k▲
Amounts payable after one year17€9k-
Amounts payable within one year42/48€50k€82k▲
Trade debts payable within one year44-€2k
Income statement
Code20242025
Gross operating margin9900€146k€144k▼
Operating result9901€115k€111k▼
Financial income75€308€4k▲
Financial charges65€1k€5k▲
Result before taxes9903€114k€113k▼
Income taxes67/77€38k€39k▲
Net result for the period9904€76k€74k▼
Result to be appropriated9905€76k€74k▼
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
31-12
Financial
Highest result since 2019net €76k ▲48.2%
Operating result €115k, net result €76k, both a record.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
02-02
State Gazette act
Statutes amendment
v3.2
2023
29-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 60 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
31-12
Financial
Equity above €200kEq €220k ▲40.9%
3 profitable years in a row build equity to €220k.
30-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 61 days late
2020
31-12
Financial
Weakest financial yearnet €18k ▼40.1%
Net result drops to €18k, the lowest in the series; recovery starts the following year.
31-12
Financial
Equity above €150kEq €156k ▲12.9%
2 profitable years in a row build equity to €156k.
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 91 days late
2019
20-12
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 142 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 30 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 31 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 directors, last change in 2024
TER LINGEN Sabine
CurrentManager · since 02-02-2024
ZAAL Manolito
CurrentManager · since 02-02-2024
02-02-2024
TER LINGEN Sabine: Appointed as Manager
02-02-2024
ZAAL Manolito: Appointed as Manager
Not every act has been read: a resignation may be missing here
1 of this company's 1 Belgian State Gazette acts has not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Mol · 1 establishment unit since 2008
Ground area
643 m²
Building footprint
87 m²
Volume, LiDAR
669 m³
Parcel 13025G1055/00F065, Flanders · tallest building 10.1 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Madenor
since 20082.174.758.410
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13025G1055/00F065 | Flanders | 643 m² | 1 · 87 m² | 10.1 m · 3 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.
Comparable companies · same sector, comparable size
Similar companies · same sector, comparable size
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RIO CONSULT
BE 0731.672.384
Visé · Eq €407k
BECOREM
BE 0479.646.192
Grimbergen · Eq €407k
EXCELSIOR REAL ESTATE
BE 0846.340.044
Nazareth-De Pinte · Eq €407k
Of 82,136 companies in sector 70200 we hold annual accounts for 52,099. 36,063 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded19-09-2008
Fiscal year end31-12
Activities, NACEBEL
70200Business and other management consultancy
70220Business consulting
Sources
Crossroads Bank for EnterprisesNational Bank · 17 filingsAddress and cadastre registers
Data from official sources, last processed on 06-09-2026. Scores and ratios are computed by Checked and are not a credit decision.