ACTIVE

MADEKS

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Financial year 2025 · closed on 31/12/2025

Net result

212,3 k €

-10.0% YoY

Gross margin

494,9 k €

-15.2% YoY

Equity

2,6 M €

+9.0% YoY

Workforce

1,0 ETP

0.0% YoY

What does MADEKS do?

MADEKS is a Public limited company incorporated in 1991. Its main activity is: Wholesale of textiles. Its registered office is in Oudenaarde. It employs on average 1,0 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0446.100.822

Incorporation

27/12/1991

Legal form

Public limited company

Registered office

Lindestraat 51
9700 Oudenaarde · FlandreSee on map

Contributed capital

62 000,00 €

Latest accounts

31/12/2025

Average workforce

1,0 ETP

Activities (NACE)

46412Wholesale of textiles· main 46412Wholesale of textiles 51410Air transport

Joint committees (2)

2000
218

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	494,9 k €	-15.2%	583,7 k €	-30.6%	840,6 k €	+32.4%	634,7 k €	+133%	272,1 k €	-14.2%	317,3 k €	-26.0%	429 k €	-41.0%	727,8 k €	+36.2%	534,5 k €	-26.1%	722,9 k €	-6.7%	774,7 k €	-16.4%	926,2 k €	+14.7%	807,3 k €	+40.5%	574,7 k €	+29.4%	444,1 k €	-24.0%	584,6 k €	+25.3%	466,5 k €	+4.4%	446,9 k €
EBITDA	397 k €	+10.0%	361 k €	-49.8%	719,6 k €	+29.4%	556,3 k €	+181%	197,8 k €	-19.6%	246 k €	-22.7%	318 k €	-51.8%	659,2 k €	+38.6%	475,5 k €	-24.3%	627,9 k €	-12.2%	715,5 k €	+9.3%	654,4 k €	-12.9%	751,2 k €	+47.7%	508,4 k €	+30.2%	390,5 k €	-22.8%	505,6 k €	+29.7%	389,7 k €	-0.8%	392,7 k €
Operating result	361,3 k €	+8.0%	334,5 k €	-53.9%	726,3 k €	+37.1%	529,9 k €	+185%	186,1 k €	-7.4%	200,9 k €	+522552%	-38,5 €	-100%	612,7 k €	+42.2%	431 k €	-28.5%	603,1 k €	-7.8%	653,8 k €	+8.0%	605,4 k €	-12.3%	690,3 k €	+52.6%	452,4 k €	+39.0%	325,5 k €	-25.2%	435,4 k €	+38.8%	313,8 k €	-0.2%	314,3 k €
Net result	212,3 k €	-10.0%	235,9 k €	-55.8%	534 k €	+180%	190,9 k €	+73.5%	110 k €	+271%	-64,5 k €	+72.8%	-237,4 k €	-193%	254,4 k €	-22.2%	326,9 k €	-25.7%	440,2 k €	+11.3%	395,4 k €	+34.7%	293,6 k €	-35.6%	456,1 k €	+61.5%	282,4 k €	-8.9%	309,9 k €	-12.3%	353,5 k €	+58.5%	223 k €	+2.9%	216,7 k €
Balance sheet
Equity	2,6 M €	+9.0%	2,4 M €	-12.1%	2,7 M €	+24.7%	2,2 M €	+9.7%	2 M €	-44.9%	3,6 M €	-1.8%	3,6 M €	-35.9%	5,7 M €	+4.7%	5,4 M €	+6.4%	5,1 M €	+9.5%	4,7 M €	+1.9%	4,6 M €	+6.9%	4,3 M €	+12.0%	3,8 M €	+8.0%	3,5 M €	+9.6%	3,2 M €	+12.3%	2,9 M €	+8.4%	2,6 M €
Total assets	2,8 M €	-15.6%	3,3 M €	-9.5%	3,6 M €	-6.8%	3,9 M €	+36.5%	2,9 M €	-22.7%	3,7 M €	-17.7%	4,5 M €	-23.2%	5,9 M €	+6.3%	5,5 M €	+3.9%	5,3 M €	+3.7%	5,1 M €	+7.5%	4,8 M €	+6.7%	4,5 M €	+9.9%	4,1 M €	+7.9%	3,8 M €	+10.1%	3,4 M €	+10.8%	3,1 M €	+14.2%	2,7 M €
Cash	1,5 M €	-19.0%	1,8 M €	-13.0%	2,1 M €	+10.4%	1,9 M €	+64.7%	1,1 M €	-42.6%	2 M €	+38.6%	1,4 M €	-31.4%	2,1 M €	+75.1%	1,2 M €	-4.0%	1,2 M €	+317%	299,4 k €	-74.1%	1,2 M €	+18.7%	972,6 k €	+156%	379,5 k €	-46.6%	711,2 k €	-16.0%	846,3 k €	-5.8%	898,4 k €	+59.2%	564,5 k €
Debts	155,8 k €	-81.9%	860,8 k €	-8.4%	939,7 k €	-45.9%	1,7 M €	+96.2%	886,1 k €	+636%	120,4 k €	-85.9%	852,3 k €	+399%	170,7 k €	+104%	83,7 k €	-59.1%	204,8 k €	-52.6%	431,9 k €	+215%	137,2 k €	-14.1%	159,7 k €	-25.5%	214,3 k €	+13.7%	188,6 k €	+21.0%	155,8 k €	-20.5%	196,1 k €	+607%	27,7 k €
Other
Workforce	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	-50.0%	2,0 ETP	0.0%	2,0 ETP	+53.8%	1,3 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 8 ended

Active mandates

Johan Gasthuys

Managing director · since 18 mars 2024 · until 31 décembre 2028

Active

Lode Gasthuys

Managing director · since 18 mars 2024 · until 31 décembre 2028

Active

Ended mandates

Johan Gasthuys

Managing director · since 28 mai 2018

Ended

Lode Gasthuys

Managing director · since 28 mai 2018

Ended

Johan Gasthuys

Managing director · since 18 décembre 2006

Ended

Lode Gasthuys

Director · since 18 décembre 2006

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	01/06/2026	02/06/2025	30/05/2024	30/05/2023	17/08/2022	04/06/2021
General meeting	30/05/2026	31/05/2025	25/05/2024	27/05/2023	28/05/2022	29/05/2021
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	30/05/2026	01/06/2026	Dutch	PDF
Abridged model	31/12/2024	31/05/2025	02/06/2025	Dutch	PDF
Abridged model	31/12/2023	25/05/2024	30/05/2024	Dutch	PDF
Abridged model	31/12/2022	27/05/2023	30/05/2023	Dutch	PDF
Abridged model	31/12/2021	28/05/2022	17/08/2022	Dutch	PDF
Abridged model	31/12/2020	29/05/2021	04/06/2021	Dutch	PDF
Abridged model	31/12/2019	30/05/2020	15/10/2020	Dutch	PDF
Abridged model	31/12/2018	25/05/2019	06/06/2019	Dutch	PDF
Abridged model	31/12/2017	28/05/2018	31/05/2018	Dutch	PDF
Abridged model	31/12/2016	28/05/2017	29/08/2017	Dutch	PDF
Abridged model	31/12/2015	28/05/2016	02/06/2016	Dutch	PDF
Abridged model	31/12/2014	30/05/2015	29/06/2015	Dutch	PDF
Abridged model	31/12/2013	31/05/2014	01/07/2014	Dutch	PDF
Abridged model	31/12/2012	27/05/2013	03/06/2013	Dutch	PDF
Abridged model	31/12/2011	26/05/2012	29/05/2012	Dutch	PDF
Abridged model	31/12/2010	28/05/2011	01/06/2011	Dutch	PDF
Abridged model	31/12/2009	29/05/2010	01/06/2010	Dutch	PDF
Abridged model	31/12/2008	30/05/2009	02/06/2009	Dutch	PDF
Abridged model	31/12/2007	31/05/2008	10/06/2008	Dutch	PDF
Abridged model	31/12/2006	26/05/2007	31/05/2007	Dutch	PDF

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.

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 · 2 active · 8 ended

Active mandates

Johan Gasthuys

Managing director · since 18 mars 2024 · until 31 décembre 2028

Active

Lode Gasthuys

Managing director · since 18 mars 2024 · until 31 décembre 2028

Active

Ended mandates

Johan Gasthuys

Managing director · since 28 mai 2018

Ended

Lode Gasthuys

Managing director · since 28 mai 2018

Ended

Johan Gasthuys

Managing director · since 18 décembre 2006

Ended

Lode Gasthuys

Director · since 18 décembre 2006

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates13/05/2024
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares11/05/2020
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - KAPITAAL - AANDELEN
PDF
Mandates26/06/2018
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares04/01/2018
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Capital / shares02/01/2014
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Capital / shares28/03/2012
KAPITAAL - AANDELEN
PDF
Capital / shares12/01/2012
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - DIVERSEN
PDF
Mandates02/01/2007
ONTSLAGEN - BENOEMINGEN
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 2025212,3 k €↓
2024
Annual accounts 2024235,9 k €↓
2023
Annual accounts 2023534 k €↑
2022
Annual accounts 2022190,9 k €↑
2021
Annual accounts 2021110 k €↑
2018
Annual accounts 2018-64,5 k €↑
2017
Annual accounts 2017-237,4 k €↓
2016
Annual accounts 2016254,4 k €↓
2015
Annual accounts 2015326,9 k €↓
2014
Annual accounts 2014440,2 k €↑
2013
Annual accounts 2013395,4 k €↑
2012
Annual accounts 2012293,6 k €↓
2011
Annual accounts 2011456,1 k €↑
2010
Annual accounts 2010282,4 k €↓
2009
Annual accounts 2009309,9 k €↓
2008
Annual accounts 2008353,5 k €↑
2007
Annual accounts 2007223 k €↑
2006
Annual accounts 2006216,7 k €
27/12/1991
IncorporationPublic 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

MADEKS

Overview

What does MADEKS do?

Trend over 18 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