Checked.be
Active
BE 0476.811.814Private limited company
MADINA
Stokstraat 9 ·3830 Wellen, Belgium· 24 yrs active
Sector: Non-specialised retail sale with food, beverages or tobacco predominating
(47110)
Conclusion
MADINA has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €176k and a net result of €55k. Equity is growing by ~12.4% per year across the filed fiscal years. Its solvency ranks better than 58% of 17540 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Based on the State Gazette, CBE and 5 annual accounts.
Key figures
| Equity | €176k |
| Net result | €55k |
| Better than sector | 58% |
| Active | 24 yrs |
Financial profile
90
/ 100
Exceptional profile, strong across almost every axis.
All 5 axes are computed from data Checked has read.
Health
89
Profitability
100
Solvency
82
Growth
78
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Long-established
Founded in 2002, 24 years in business.
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.
Checked score
89
/ 100
Excellent
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.
Indicative credit limit
€16k
estimate, not credit advice
Score history
76
2021
84
2022
76
2023
76
2024
89
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 1.72 (≥ 1.5)
+10
Leverage
Debt/equity 1.29 (< 2.0)
+3
Profitability
ROE 31% (≥ 10%)
+10
Interest coverage
Interest coverage 6.2× (≥ 3×)
+8
Profit trend
Net profit up YoY
+5
Equity growth
Equity growing YoY
+3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 30-07-2026 with the NBB · fiscal year 2025 · micro schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Equity: growth of ~12.4%/year over 5 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 47, Retail trade · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 43.8% | 34.6% | |
| Net result | €55k | €5k | |
| Equity | €176k | €44k | |
| Gross operating margin | €124k | €34k | |
| Staff costs | €22k | €40k |
€91k
+4.3%
21-25
€55k
+1.4%
21-25
€70k
+7.4%
21-25
€402k
-4.5%
21-25
€176k
+10.9%
21-25
€61k
+16.2%
21-25
1
0.0%
21-25
€22k
+21.2%
21-25
€7k
+13.0%
21-25
€226k
-13.9%
21-25
€85k
-14.7%
21-25
€140k
-14.0%
21-25
1.72
+12.6%
21-25
0.65
+31.5%
21-25
43.8%
+16.2%
21-25
1.29
-22.3%
21-25
31.5%
-8.6%
21-25
13.8%
+6.2%
21-25
6.24
+16.3%
21-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema | micro schema | micro schema |
| Revenue | - | - | - | - | - |
| EBITDA | €91k | €87k | €84k | €77k | €50k |
| Net profit | €55k | €55k | €56k | €61k | €33k |
| Cash flow | €70k | €65k | €65k | €66k | €40k |
| Staff costs | €22k | €18k | - | €19k | €12k |
| Income taxes | €7k | €6k | €6k | €6k | €6k |
| Dividends | - | - | - | - | - |
| Total assets | €402k | €421k | €392k | €252k | €256k |
| Equity | €176k | €158k | €136k | €125k | €109k |
| Debt | €226k | €262k | €256k | €127k | €147k |
| of which ≤ 1y | €85k | €100k | €80k | €74k | €83k |
| of which > 1y | €140k | €162k | €175k | €53k | €64k |
| Working capital | €61k | €53k | €47k | €44k | €35k |
| Employees (FTE) | - | 0.8 | - | 0.8 | 0.6 |
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 1.72 | 1.53 | 1.59 | 1.60 | 1.42 |
| Quick ratio | 0.65 | 0.50 | 0.50 | 0.47 | 0.60 |
| Working capital ratio | 15.3% | 12.6% | 12.1% | 17.7% | 13.5% |
| Solvency | 43.8% | 37.7% | 34.7% | 49.5% | 42.5% |
| Debt / equity | 1.29 | 1.65 | 1.88 | 1.02 | 1.35 |
| Long-term debt ratio | 0.79 | 1.02 | 1.29 | 0.43 | 0.59 |
| Interest coverage | 6.24 | 5.36 | 6.68 | 13.78 | 11.24 |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | 13.8% | 13.0% | 14.4% | 24.2% | 13.0% |
| ROE | 31.5% | 34.4% | 41.4% | 48.8% | 30.6% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (26 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €402k | €421k | €392k | €252k | €256k |
| Fixed assets | 21/28 | €255k | €268k | €264k | €133k | €138k |
| Tangible fixed assets | 22/27 | €251k | €264k | €260k | €130k | €135k |
| Financial fixed assets | 28 | €4k | €4k | €4k | €4k | €4k |
| Current assets | 29/58 | €147k | €153k | €127k | €118k | €117k |
| Stocks & contracts in progress | 3 | €91k | €103k | €87k | €84k | €67k |
| Amounts receivable within one year | 40/41 | €8k | €6k | €3k | €15k | €15k |
| Investments | 50/53 | €0 | €400 | - | - | - |
| Cash & bank | 54/58 | €46k | €42k | €37k | €19k | €34k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €402k | €421k | €392k | €252k | €256k |
| Equity | 10/15 | €176k | €158k | €136k | €125k | €109k |
| Contributions / capital | 10/11 | €19k | €19k | €19k | €19k | €19k |
| Reserves | 13 | €157k | €139k | €114k | €103k | €88k |
| Accumulated profits (losses) | 14 | €0 | €797 | €3k | €3k | €3k |
| Amounts payable | 17/49 | €226k | €262k | €256k | €127k | €147k |
| Amounts payable after one year | 17 | €140k | €162k | €175k | €53k | €64k |
| Amounts payable within one year | 42/48 | €85k | €100k | €80k | €74k | €83k |
| Trade debts payable within one year | 44 | €11k | €11k | €6k | €5k | €4k |
| Income statement | ||||||
| Gross operating margin | 9900 | €124k | €110k | €113k | €100k | €66k |
| Operating result | 9901 | €77k | €77k | €75k | €72k | €43k |
| Financial income | 75 | €215 | €97 | €217 | €632 | €186 |
| Financial charges | 65 | €15k | €16k | €13k | €6k | €4k |
| Result before taxes | 9903 | €62k | €61k | €62k | €67k | €39k |
| Income taxes | 67/77 | €7k | €6k | €6k | €6k | €6k |
| Net result for the period | 9904 | €55k | €55k | €56k | €61k | €33k |
| Result to be appropriated | 9905 | €55k | €55k | €56k | €61k | €33k |
Directors & mandates
Current directors & mandates
-
Current29-01-2026 → present
Legal Structure
| NACE primary | Non-specialised retail sale with food, beverages or tobacco predominating(47110) |
| Legal form | Private limited company(610) |
| Incorporation | 01-02-2002 |
| Status | Active |
| Postal code | 3830 |
Connections & network
Linked via shared directors
viaAlpha Diallo · Director
→
viaAlpha Diallo · Director
→
viaAlpha Diallo · Director
→
viaAlpha Diallo · Director
→
Show 1 more companies with a shared director
viaAlpha Diallo · Director
former→
Establishment units
MADINA
since 20022.101.703.156
Frans Massystraat 15, 3500 Hasselt
since 20142.235.108.543
Real-estate footprint
Flanders
3
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 73098F1201/00P000 | Flanders | 1,367 m² | 1 · 145 m² | 6.4 m · 2 fl. |
| 13453O0427/00W000 | Flanders | 360 m² | 1 · 184 m² | 13.2 m · 3 fl. |
| 71326F0120/00H003 | Flanders | 118 m² | 1 · 94 m² | 14.8 m · 3 fl. |
Methodology
via registered seat: 1 · via establishment units: 2
3 of 3 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates
Next filing, fiscal year 2026, expected by
2026
30-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
23-02
State Gazette act
Director changes
v3.2
2025
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 61 days late
2024
31-12
Financial
Equity above €150kEq €158k ▲16.6%
4 profitable years in a row build equity to €158k.
27-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 27 days late
2023
07-12
State Gazette act
Director changes
v3.2
27-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 88 days late
2022
31-12
Financial
Highest result since 2021net €61k ▲82.9%
Net result €61k, the highest in the series.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
23-02
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 207 days late
2020
29-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 90 days late
2019
12-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
09-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 9 days late
2017
23-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 23 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
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.
Belgisch Staatsblad, acts
All acts · 2
updated 6 months ago
2026
23-02-2026 Diallo Alpha appointed as director
- Diallo Alpha, Bestuurder
Summary:
v3.2
Technical details
{
"events": [
{
"kind": "director_in",
"role": "bestuurder",
"person": {
"rrn": null,
"name": "Diallo Alpha",
"address": null,
"birth_date": null
},
"effective_date": "2026-01-29",
"evidence_quote": "De heer Soulemane Diallo wonende te 3830 Wellen Stokstraat 9 wordt benoemd tot bestuurder en dit met onmiddellijke ingang."
}
],
"schema": "v3.2",
"act_meta": {
"model_id": 36,
"extractor": "constrained-core-35b"
},
"subject_company": {
"kbo": "0476.811.814",
"name_full": "MADINA",
"legal_form": "BV"
}
}2023
07-12-2023 Change in the board of directors
Summary:
v3.2
Technical details
{
"events": [],
"schema": "v3.2",
"act_meta": {
"model_id": 36,
"extractor": "constrained-core-35b"
},
"subject_company": {
"kbo": "0476.811.814",
"name_full": "MADINA",
"legal_form": "BVBA"
}
}Credit advice
Company registry (CBE)
Activities
Non-specialised retail sale with food, beverages or tobacco predominating47110Retail trade4711252116Retail sale of cosmetics and toilet articles4775055401Cafés and bars56301
Names & trade names
| Legal nameNL | MADINA |
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