ACTIVE

MADAREST

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Financial year 2025 · closed on 31/12/2025

Net result

666,5 k €

+9.2% YoY

Gross margin

2,7 M €

+12.4% YoY

Equity

1,4 M €

+4.9% YoY

Workforce

24,6 ETP

+2.9% YoY

What does MADAREST do?

MADAREST is a Private limited company incorporated in 1984. Its main activity is: Manufacture of macaroni, noodles, couscous and similar farinaceous products. Its registered office is in Anderlues. It employs on average 24,6 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0425.846.331

Incorporation

07/06/1984

Legal form

Private limited company

Registered office

Rue Joseph Wauters 145
6150 Anderlues · WallonieSee on map

Contributed capital

18 592,00 €

Latest accounts

31/12/2025

Average workforce

24,6 ETP

Activities (NACE)

10730Manufacture of macaroni, noodles, couscous and similar farinaceous products· main 10730Manufacture of macaroni, noodles, couscous and similar farinaceous products

Joint committees (3)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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✦ Verdict · Analyst summary

Financials

Trend over 15 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011
Income statement
Gross margin	2,7 M €	+12.4%	2,4 M €	+17.7%	2,0 M €	+6.1%	1,9 M €	+17.9%	1,6 M €	+18.3%	1,4 M €	+11.4%	1,2 M €	+18.3%	1,0 M €	+58.8%	653,6 k €	+34.5%	486,1 k €	+48.2%	328,0 k €	+47.9%	221,8 k €	+11.2%	199,4 k €	+244%	57,9 k €	+704%	-9,6 k €
EBITDA	1,1 M €	+6.6%	1,1 M €	+18.2%	904,9 k €	-18.0%	1,1 M €	+10.9%	995,2 k €	+20.2%	828,1 k €	+16.7%	709,5 k €	+14.1%	621,6 k €	+89.1%	328,8 k €	+31.6%	249,9 k €	+87.3%	133,4 k €	+105%	64,9 k €	+29.6%	50,1 k €	+86.5%	26,9 k €	+372%	-9,9 k €
Operating result	907,7 k €	+2.4%	886,3 k €	+15.5%	767,2 k €	-21.2%	973,3 k €	+12.9%	862,3 k €	+22.8%	702,4 k €	+22.1%	575,3 k €	+13.7%	506,2 k €	+114%	236,8 k €	+72.0%	137,7 k €	+42.5%	96,6 k €	+156%	37,8 k €	+50.5%	25,1 k €	-6.6%	26,9 k €	+243%	-18,8 k €
Net result	666,5 k €	+9.2%	610,6 k €	+17.1%	521,5 k €	-23.9%	685,5 k €	+3.6%	661,7 k €	+24.3%	532,2 k €	+31.5%	404,7 k €	-12.0%	459,9 k €	+410%	90,3 k €	-20.1%	113,0 k €	+44.8%	78,0 k €	+129%	34,0 k €	+40.4%	24,2 k €	+3506%	672,0 €	+104%	-19,1 k €
Balance sheet
Equity	1,4 M €	+4.9%	1,4 M €	+15.1%	1,2 M €	-6.2%	1,3 M €	+12.8%	1,1 M €	+26.4%	882,6 k €	+31.7%	670,3 k €	+51.4%	442,7 k €	+69.0%	261,9 k €	+27.2%	205,9 k €	+62.0%	127,1 k €	+68.5%	75,4 k €	+36.1%	55,4 k €	+77.7%	31,2 k €	+2.2%	30,5 k €
Total assets	4,0 M €	+18.9%	3,4 M €	+19.7%	2,8 M €	+7.9%	2,6 M €	+13.0%	2,3 M €	+17.2%	2,0 M €	+11.9%	1,8 M €	+29.0%	1,4 M €	+49.8%	905,8 k €	+11.3%	814,1 k €	+143%	335,1 k €	+37.0%	244,5 k €	+7.8%	226,8 k €	+204%	74,6 k €	+145%	30,5 k €
Cash	1,8 M €	+18.3%	1,5 M €	+3.6%	1,5 M €	+4.4%	1,4 M €	+5.7%	1,3 M €	+24.3%	1,1 M €	+10.9%	972,3 k €	+47.0%	661,3 k €	+92.4%	343,7 k €	+106%	166,7 k €	+226%	51,1 k €	+569%	7,6 k €	-14.2%	8,9 k €	+262%	2,5 k €	-34.5%	3,8 k €
Debts	2,6 M €	+28.4%	2,0 M €	+22.9%	1,6 M €	+21.1%	1,3 M €	+13.3%	1,2 M €	+9.7%	1,1 M €	-0.3%	1,1 M €	+18.2%	914,2 k €	+42.0%	643,9 k €	+5.9%	608,2 k €	+192%	208,0 k €	+23.0%	169,1 k €	+14.7%	147,4 k €	+239%	43,4 k €	+1086100%	4,0 €
Other
Workforce	24,6 ETP	+2.9%	23,9 ETP	+23.2%	19,4 ETP	+9.0%	17,8 ETP	+9.2%	16,3 ETP	+10.9%	14,7 ETP	+4.3%	14,1 ETP	+12.8%	12,5 ETP	+23.8%	10,1 ETP	+16.1%	8,7 ETP	+22.5%	7,1 ETP	+31.5%	5,4 ETP	+12.5%	4,8 ETP	+586%	0,7 ETP		–

Estimate

Indicative valuation

As an indication, this company is worth

between 5 M€ and 10 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 3 ended

Active mandates

Silvio Luise

Director · since 01 octobre 2012

Active

Sabrina Luise

Director

Active

Sara Luise

Director

Active

Ended mandates

Silvio Luise

Manager · since 01 octobre 2012

Ended

Sabrina Luise

Manager

Ended

Sara Luise

Manager

Ended

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	07/08/2026	27/08/2025	30/08/2024	31/08/2023	31/08/2022	24/08/2021
General meeting	26/06/2026	27/06/2025	28/06/2024	30/06/2023	11/06/2022	25/06/2021
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

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Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	26/06/2026	07/08/2026	French	PDF
Abridged model	31/12/2024	27/06/2025	27/08/2025	French	PDF
Abridged model	31/12/2023	28/06/2024	30/08/2024	French	PDF
Abridged model	31/12/2022	30/06/2023	31/08/2023	French	PDF
Abridged model	31/12/2021	11/06/2022	31/08/2022	French	PDF
Abridged model	31/12/2020	25/06/2021	24/08/2021	French	PDF
Abridged model	31/12/2019	26/06/2020	25/08/2020	French	PDF
Abridged model	31/12/2018	28/06/2019	28/08/2019	French	PDF
Abridged model	31/12/2017	23/03/2018	27/03/2018	French	PDF
Abridged model	31/12/2016	26/06/2017	22/08/2017	French	PDF
Abridged model	31/12/2015	24/06/2016	27/06/2016	French	PDF
Abridged model	31/12/2014	26/06/2015	26/08/2015	French	PDF
Abridged model	31/12/2013	27/06/2014	30/09/2014	French	PDF
Abridged model	31/12/2012	28/06/2013	21/11/2013	French	PDF
Abridged model	31/12/2011	30/06/2012	23/07/2013	French	PDF
Abridged model	31/12/2010	24/06/2011	30/09/2011	French	PDF
Abridged model	31/12/2009	24/06/2010	30/09/2010	French	PDF
Abridged model	31/12/2008	26/06/2009	28/08/2009	French	PDF
Abridged model	31/12/2007	27/06/2008	11/08/2008	French	PDF
Abridged model	31/12/2006	25/08/2007	24/09/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 5 M€ and 10 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.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 3 ended

Active mandates

Silvio Luise

Director · since 01 octobre 2012

Active

Sabrina Luise

Director

Active

Sara Luise

Director

Active

Ended mandates

Silvio Luise

Manager · since 01 octobre 2012

Ended

Sabrina Luise

Manager

Ended

Sara Luise

Manager

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates22/12/2023
DEMISSIONS, NOMINATIONS
PDF
Mandates15/04/2021
MODIFICATION FORME JURIDIQUE - DEMISSIONS, NOMINATIONS
PDF
Registered office20/03/2017
SIEGE SOCIAL
PDF
Registered office03/07/2013
SIEGE SOCIAL
PDF
Mandates17/10/2012
SIEGE SOCIAL - DEMISSIONS, NOMINATIONS
PDF
Mandates05/01/2012
DEMISSIONS, NOMINATIONS
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 2025666,5 k €↑
2024
Annual accounts 2024610,6 k €↑
2023
Annual accounts 2023521,5 k €↓
2022
Annual accounts 2022685,5 k €↑
2021
Annual accounts 2021661,7 k €↑
2020
Annual accounts 2020532,2 k €↑
2019
Annual accounts 2019404,7 k €↓
2018
Annual accounts 2018459,9 k €↑
2017
Annual accounts 201790,3 k €↓
2016
Annual accounts 2016113,0 k €↑
2015
Annual accounts 201578,0 k €↑
2014
Annual accounts 201434,0 k €↑
2013
Annual accounts 201324,2 k €↑
2012
Annual accounts 2012672,0 €↑
2011
Annual accounts 2011-19,1 k €
07/06/1984
IncorporationPrivate limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

MADAREST

Overview

What does MADAREST do?

Trend over 15 financial years

Indicative valuation

Board of directors

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline