Madelec
0405.428.326 · rovalta.com · 22/09/2026
ACTIVE
Madelec
Financial year 2025 · closed on 31/12/2025
Net result
256,7 k €
-47.5% YoY
Gross margin
3,2 M €
-10.4% YoY
Equity
2,7 M €
-8.3% YoY
Workforce
44,8 ETP
-7.4% YoY
Overview
What does Madelec do?
Madelec is a Public limited company incorporated in 1968. Its main activity is: Electrical installation. Its registered office is in Waregem. It employs on average 44,8 ETP workers (FTE).
Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0405.428.326
Incorporation
01/01/1968
Legal form
Public limited company
Registered office
Kalkhoevestraat 52
8790 Waregem · FlandreSee on map
8790 Waregem · FlandreSee on map
Contributed capital
181 449,28 €
Latest accounts
31/12/2025
Average workforce
44,8 ETP
Activities (NACE)
Joint committees (7)
- 124
- 1240
- 149
- 14901
- 200
- 2000
- 218
Signals
ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts
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Financials
Trend over 17 financial years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2018 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | |||||||||||||||||||||||||||||||||
| Gross margin | 3,2 M € | -10.4% | 3,6 M € | -3.3% | 3,7 M € | +22.2% | 3 M € | -13.5% | 3,5 M € | +11.0% | 3,2 M € | -7.7% | 3,4 M € | – | – | – | – | – | – | – | – | – | – | ||||||||||
| EBITDA | 438,3 k € | -43.2% | 771,4 k € | +47.8% | 521,8 k € | +5513% | -9,6 k € | -102% | 544,3 k € | +333% | 125,6 k € | -67.2% | 383 k € | -24.0% | 504,2 k € | +21.3% | 415,5 k € | +139% | 173,9 k € | -38.3% | 281,6 k € | -36.4% | 442,5 k € | -17.2% | 534,1 k € | +15.3% | 463,3 k € | +66.4% | 278,5 k € | +339% | 63,4 k € | -90.5% | 669,5 k € |
| Operating result | 272,5 k € | -54.1% | 594,1 k € | +64.8% | 360,6 k € | +300% | -180,7 k € | -149% | 371,6 k € | +1244% | -32,5 k € | -123% | 139 k € | -56.5% | 319,6 k € | +49.6% | 213,6 k € | +657% | -38,4 k € | -172% | 53,5 k € | -73.5% | 201,9 k € | -35.4% | 312,5 k € | +35.2% | 231,1 k € | +391% | 47,1 k € | -86.0% | 336,3 k € | -28.3% | 468,8 k € |
| Net result | 256,7 k € | -47.5% | 489,1 k € | +43.1% | 341,8 k € | +358% | -132,3 k € | -136% | 364,4 k € | +1848% | -20,8 k € | -119% | 108,1 k € | -53.5% | 232,4 k € | +76.9% | 131,3 k € | +1739% | -8 k € | -113% | 62,7 k € | -65.9% | 184,1 k € | -25.4% | 246,8 k € | +32.7% | 185,9 k € | +434% | 34,8 k € | -84.7% | 227,6 k € | -30.8% | 328,8 k € |
| Balance sheet | |||||||||||||||||||||||||||||||||
| Equity | 2,7 M € | -8.3% | 2,9 M € | -0.4% | 2,9 M € | +10.6% | 2,6 M € | -4.8% | 2,8 M € | +27.9% | 2,2 M € | -17.8% | 2,6 M € | +4.3% | 2,5 M € | +10.1% | 2,3 M € | +2.5% | 2,2 M € | -0.4% | 2,3 M € | +2.9% | 2,2 M € | +5.2% | 2,1 M € | +9.0% | 1,9 M € | +7.6% | 1,8 M € | +2.0% | 1,7 M € | +15.0% | 1,5 M € |
| Total assets | 4 M € | -8.6% | 4,4 M € | +5.4% | 4,1 M € | +11.9% | 3,7 M € | -0.7% | 3,7 M € | +14.0% | 3,3 M € | -5.6% | 3,5 M € | -9.6% | 3,8 M € | +14.6% | 3,3 M € | +5.6% | 3,2 M € | -17.4% | 3,8 M € | +10.0% | 3,5 M € | -3.8% | 3,6 M € | +7.4% | 3,4 M € | -1.1% | 3,4 M € | -17.6% | 4,1 M € | +6.9% | 3,9 M € |
| Cash | 874,6 k € | -54.0% | 1,9 M € | +48.9% | 1,3 M € | -1.9% | 1,3 M € | +22.7% | 1,1 M € | +12.3% | 945,9 k € | -20.0% | 1,2 M € | -17.7% | 1,4 M € | +80.7% | 794,9 k € | +44.0% | 551,8 k € | -11.0% | 619,7 k € | -2.0% | 632,3 k € | -24.7% | 839,8 k € | +51.6% | 553,8 k € | -6.1% | 589,8 k € | -15.7% | 699,8 k € | -27.5% | 965,5 k € |
| Debts | 1,3 M € | -7.7% | 1,4 M € | +20.4% | 1,2 M € | +15.2% | 1 M € | +8.9% | 939,9 k € | -12.5% | 1,1 M € | +36.1% | 789,2 k € | -36.8% | 1,2 M € | +27.6% | 978,2 k € | +11.9% | 874,1 k € | -43.1% | 1,5 M € | +22.5% | 1,3 M € | -17.3% | 1,5 M € | +7.4% | 1,4 M € | -11.3% | 1,6 M € | -30.9% | 2,3 M € | +2.8% | 2,2 M € |
| Other | |||||||||||||||||||||||||||||||||
| Workforce | 44,8 ETP | -7.4% | 48,4 ETP | -10.0% | 53,8 ETP | +0.7% | 53,4 ETP | -6.0% | 56,8 ETP | – | 64,0 ETP | +2.6% | 62,4 ETP | -1.9% | 63,6 ETP | -5.8% | 67,5 ETP | -6.8% | 72,4 ETP | -2.3% | 74,1 ETP | -1.7% | 75,4 ETP | +5.2% | 71,7 ETP | -2.4% | 73,5 ETP | -15.4% | 86,9 ETP | +19.5% | 72,7 ETP | ||
Estimate
Indicative valuation
As an indication, this company is worth
between 2,5 M€ and 5 M€
See the valuationGovernance
Board of directors
Seen on filing of 31/12/2025 · 4 active · 25 ended
Active mandates
Ended mandates
Financials
Annual accounts
Full financial information
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Type of account | Abridged model | Abridged model | Abridged model | Abridged model | Abridged model | Abridged model |
| Start of the financial year | 01/01/2025 | 01/01/2024 | 01/01/2023 | 01/01/2022 | 01/01/2021 | 01/01/2020 |
| Closing of the financial year | 31/12/2025 | 31/12/2024 | 31/12/2023 | 31/12/2022 | 31/12/2021 | 31/12/2020 |
| Length of the financial year | 12 months | 12 months | 12 months | 12 months | 12 months | 12 months |
| Filing date | 04/06/2026 | 01/07/2025 | 10/06/2024 | 05/06/2023 | 31/05/2022 | 05/07/2021 |
| General meeting | 30/05/2026 | 06/06/2025 | 25/05/2024 | 27/05/2023 | 28/05/2022 | 23/06/2021 |
| Currency of the financial year | EUR | EUR | EUR | EUR | EUR | EUR |
| NBB quality label | Satisfying controls | Satisfying controls | Satisfying controls | Satisfying controls | Satisfying controls | Satisfying controls |
Ratios
Financial ratios
Looking for more information about this company?
Try for 7 daysFilings
Annual accounts filings
20 filings with the NBB
| Model | Closing | General meeting | Filed | Language | Document |
|---|---|---|---|---|---|
| Abridged model | 31/12/2025 | 30/05/2026 | 04/06/2026 | Dutch | |
| Abridged model | 31/12/2024 | 06/06/2025 | 01/07/2025 | Dutch | |
| Abridged model | 31/12/2023 | 25/05/2024 | 10/06/2024 | Dutch | |
| Abridged model | 31/12/2022 | 27/05/2023 | 05/06/2023 | Dutch | |
| Abridged model | 31/12/2021 | 28/05/2022 | 31/05/2022 | Dutch | |
| Abridged model | 31/12/2020 | 23/06/2021 | 05/07/2021 | Dutch | |
| Abridged model | 31/12/2019 | 30/06/2020 | 17/07/2020 | Dutch | |
| Micro model | 31/12/2018 | 28/06/2019 | 11/07/2019 | Dutch | |
| Abridged model | 31/12/2017 | 25/05/2018 | 27/06/2018 | Dutch | |
| Abridged model | 31/12/2016 | 30/06/2017 | 13/07/2017 | Dutch | |
| Full model | 31/12/2015 | 28/06/2016 | 11/07/2016 | Dutch | |
| Full model | 31/12/2014 | 26/06/2015 | 14/07/2015 | Dutch | |
| Full model | 31/12/2013 | 21/06/2014 | 01/07/2014 | Dutch | |
| Full model | 31/12/2012 | 25/05/2013 | 11/07/2013 | Dutch | |
| Full model | 31/12/2011 | 26/05/2012 | 04/07/2012 | Dutch | |
| Full model | 31/12/2010 | 28/05/2011 | 04/07/2011 | Dutch | |
| Full model | 31/12/2009 | 29/05/2010 | 29/06/2010 | Dutch | |
| Full model | 31/12/2008 | 30/05/2009 | 09/06/2009 | Dutch | |
| Full model | 31/12/2007 | 31/05/2008 | 08/08/2008 | Dutch | |
| Full model | 31/12/2006 | 26/05/2007 | 13/07/2007 | Dutch |
Valuation
Estimate
Indicative valuation
Order of magnitude
As an indication, this company is worth
between 2,5 M€ and 5 M€
The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.
Disclaimer
Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.
Directors & structure
Governance
Board of directors
Seen on filing of 31/12/2025 · 4 active · 25 ended
Active mandates
Ended mandates
Shareholders
Ownership and network
Looking for more information about this company?
Try for 7 daysPublications
Belgian Official Gazette
Belgian Official Gazette publications
- Capital / shares17/06/2024KAPITAAL - AANDELEN
- Mandates14/02/2024STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - ONTSLAGEN - BENOEMINGEN
- Mandates12/12/2022ONTSLAGEN - BENOEMINGEN
- Mandates02/09/2020ONTSLAGEN - BENOEMINGEN
- Mandates19/01/2018ONTSLAGEN - BENOEMINGEN
- Restructuring18/01/2018RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
- Restructuring24/11/2017RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
- Mandates13/01/2015ONTSLAGEN - BENOEMINGEN
Source: Belgian Official Gazette
Similar companies
Competition
Similar companies
A company's peers, by sector and size, are included in the Business plan.
See the Business planTimeline
Timeline
- 2025Annual accounts 2025256,7 k €↓
- 2024Annual accounts 2024489,1 k €↑
- 2023Annual accounts 2023341,8 k €↑
- 2022Annual accounts 2022-132,3 k €↓
- 2021Annual accounts 2021364,4 k €↑
- 2018Annual accounts 2018-20,8 k €↓
- 2016Annual accounts 2016108,1 k €↓
- 2015Annual accounts 2015232,4 k €↑
- 2014Annual accounts 2014131,3 k €↑
- 2013Annual accounts 2013-8 k €↓
- 2012Annual accounts 201262,7 k €↓
- 2011Annual accounts 2011184,1 k €↓
- 2010Annual accounts 2010246,8 k €↑
- 2009Annual accounts 2009185,9 k €↑
- 2008Annual accounts 200834,8 k €↓
- 2007Annual accounts 2007227,6 k €↓
- 2006Annual accounts 2006328,8 k €
- 01/01/1968IncorporationPublic limited company