ACTIVE

MADIN

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Financial year 2024 · closed on 31/12/2024

Net result

274,2 k €

+193.7% YoY

Gross margin

-16,5 k €

Equity

43,4 M €

+0.6% YoY

Workforce

0,2 ETP

0.0% YoY

What does MADIN do?

MADIN is a Public limited company incorporated in 1994. Its main activity is: Rental and operating of own or leased real estate. Its registered office is in Lichtervelde. It employs on average 0,2 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0453.046.220

Incorporation

04/07/1994

Legal form

Public limited company

Registered office

Diksmuidseboterweg 4
8810 Lichtervelde · FlandreSee on map

Contributed capital

34 730 046,03 €

Latest accounts

31/12/2024

Average workforce

0,2 ETP

Activities (NACE)

68201Rental and operating of own or leased real estate· main 68201Rental and operating of own or leased real estate

Joint committees (1)

Signals

ProfitableSolid equityLow riskGood liquidityHealthy social debts

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	-16,5 k €		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–
EBITDA	-3,1 M €	-303%	-779,3 k €	-105%	-380,2 k €	-36.7%	-278,2 k €	-3.7%	-268,3 k €	-130%	-116,7 k €	-238%	-34,5 k €	+9.0%	-37,9 k €	-111%	-18 k €	-9.7%	-16,4 k €	-136%	45 k €	-7.8%	48,8 k €	+296%	-24,8 k €	-3.0%	-24,1 k €	+13.1%	-27,7 k €	+25.8%	-37,4 k €	+18.1%	-45,6 k €	-118%	260,1 k €	+406%	51,4 k €
Operating result	-2,6 M €	-111%	-1,2 M €	+31.7%	-1,8 M €	-386%	-370,2 k €	+0.1%	-370,5 k €	-144%	-152 k €	-340%	-34,5 k €	+9.0%	-37,9 k €	-111%	-18 k €	-9.7%	-16,4 k €	-136%	45 k €	-7.8%	48,8 k €	+296%	-24,8 k €	-3.0%	-24,1 k €	+13.1%	-27,7 k €	+45.0%	-50,4 k €	+23.6%	-65,9 k €	-127%	239,8 k €	+366%	51,4 k €
Net result	274,2 k €	+194%	-292,8 k €	+99.1%	-33,9 M €	-258%	-9,5 M €	-51967%	-18,2 k €	-103%	572,9 k €	+465%	-156,7 k €	+96.2%	-4,1 M €	-758%	623,3 k €	-27.0%	853,8 k €	-96.7%	26,3 M €	+3482%	733,1 k €	+0.8%	727,1 k €	-80.9%	3,8 M €	+31.0%	2,9 M €	+366%	625,4 k €	+42.7%	438,2 k €	-70.9%	1,5 M €	+232%	454,1 k €
Balance sheet
Equity	43,4 M €	+0.6%	43,1 M €	-6.1%	45,9 M €	-39.5%	75,9 M €	-11.1%	85,3 M €	-0.0%	85,4 M €	+0.7%	84,8 M €	-0.2%	84,9 M €	-6.7%	91 M €	+0.7%	90,4 M €	+1.0%	89,6 M €	+41.5%	63,3 M €	+1.2%	62,6 M €	+0.4%	62,3 M €	+6.5%	58,5 M €	+5.2%	55,6 M €	+1.1%	55 M €	+0.8%	54,6 M €	+2.8%	53 M €
Total assets	48,8 M €	-8.7%	53,5 M €	-8.6%	58,5 M €	-31.6%	85,4 M €	-12.3%	97,4 M €	-1.9%	99,2 M €	+10.2%	90,1 M €	-0.8%	90,8 M €	-6.7%	97,4 M €	+7.1%	90,9 M €	+1.1%	89,9 M €	+33.4%	67,4 M €	+0.8%	66,9 M €	+6.7%	62,7 M €	+6.2%	59,1 M €	+5.8%	55,8 M €	+1.2%	55,2 M €	+1.0%	54,6 M €	+2.9%	53,1 M €
Cash	201 k €	-97.1%	6,8 M €	+162%	2,6 M €	+9.0%	2,4 M €	-59.9%	6 M €	+5.4%	5,7 M €	-9.5%	6,2 M €	-48.1%	12 M €	-34.7%	18,4 M €	+4.4%	17,7 M €	+46.4%	12,1 M €	+34.9%	8,9 M €	-15.6%	10,6 M €	+160%	4,1 M €	-39.0%	6,7 M €	+78.8%	3,7 M €	+35.5%	2,8 M €	-49.5%	5,5 M €	+7.6%	5,1 M €
Debts	5,4 M €	-48.0%	10,3 M €	-17.7%	12,5 M €	+32.8%	9,4 M €	-20.1%	11,8 M €	-13.4%	13,6 M €	+182%	4,8 M €	-17.8%	5,9 M €	+4.9%	5,6 M €	+4581%	120 k €	-42.0%	207,1 k €	-95.0%	4,1 M €	-3.1%	4,2 M €	+1594%	250,8 k €	-44.0%	447,5 k €	+95.7%	228,7 k €	+12.2%	203,8 k €	+132%	87,8 k €	+89.8%	46,2 k €
Other
Workforce	0,2 ETP	0.0%	0,2 ETP	-98.0%	10,2 ETP	-1.9%	10,4 ETP	+76.3%	5,9 ETP		–		–		–		–		–		–		–		–		–		–		–		–		–		0,5 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 25 M€ and 50 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2024 · 1 active · 3 ended

Active mandates

Carole Maes

Director · since 24 mars 2023 · until 23 mars 2029

Active

Ended mandates

CAROLE MAES

Administrator - manager · since 26 août 2004

Ended

LUC MAES

Director · since 26 août 2004

Ended

LUC MAES

Administrator - manager · since 26 août 2004

Ended

At this address

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Malou Invest - Knokkelicht● Active	1020.483.253

Annual accounts

Full financial information

	2024	2023	2022	2021	2020	2019
Type of account	Abridged model	Full model	Full model	Full model	Full model	Full model
Start of the financial year	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020	01/01/2019
Closing of the financial year	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020	31/12/2019
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	21/05/2025	11/07/2024	10/10/2023	03/04/2023	22/04/2022	25/03/2022
General meeting	21/05/2025	28/06/2024	09/10/2023	24/03/2023	30/03/2022	30/11/2020
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

31 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2024	21/05/2025	21/05/2025	Dutch	PDF
Full model	31/12/2023	28/06/2024	11/07/2024	Dutch	PDF
Full model	31/12/2022	09/10/2023	10/10/2023	Dutch	PDF
Full model	31/12/2021	24/03/2023	03/04/2023	Dutch	PDF
Full model	31/12/2020	30/03/2022	22/04/2022	Dutch	PDF
Full modelCorrection	31/12/2019	30/11/2020	25/03/2022	Dutch	PDF
Full model	31/12/2019	30/11/2020	05/02/2021	Dutch	PDF
Full model	31/12/2018	09/10/2019	15/10/2019	Dutch	PDF
Full model	31/12/2017	29/06/2018	11/09/2018	Dutch	PDF
Full model	31/12/2016	30/06/2017	31/07/2017	Dutch	PDF
Full model	31/12/2015	29/06/2016	28/07/2016	Dutch	PDF
Full model	31/12/2014	26/06/2015	29/06/2015	Dutch	PDF
Consolidated accounts	31/12/2014	13/04/2016	26/04/2016	Dutch	PDF
Full model	31/12/2013	26/06/2014	29/07/2014	Dutch	PDF
Consolidated accounts	31/12/2013	09/04/2015	17/04/2015	Dutch	PDF
Full model	31/12/2012	25/05/2013	23/07/2013	Dutch	PDF
Consolidated accounts	31/12/2012	27/12/2013	31/12/2013	Dutch	PDF
Full model	31/12/2011	26/05/2012	28/06/2012	Dutch	PDF
Consolidated accounts	31/12/2011	28/08/2012	31/08/2012	Dutch	PDF
Full model	31/12/2010	28/05/2011	27/06/2011	Dutch	PDF
Consolidated accountsCorrection	31/12/2010	26/08/2011	09/11/2011	Dutch	PDF
Consolidated accounts	31/12/2010	01/01/9999	30/08/2011	Dutch	PDF
Full model	31/12/2009	29/05/2010	29/06/2010	Dutch	PDF
Consolidated accounts	31/12/2009	27/08/2010	30/08/2010	Dutch	PDF

View all 31 filings

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 25 M€ and 50 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 31/12/2024 · 1 active · 3 ended

Active mandates

Carole Maes

Director · since 24 mars 2023 · until 23 mars 2029

Active

Ended mandates

CAROLE MAES

Administrator - manager · since 26 août 2004

Ended

LUC MAES

Director · since 26 août 2004

Ended

LUC MAES

Administrator - manager · since 26 août 2004

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates28/03/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - ONTSLAGEN - BENOEMINGEN
PDF
Mandates10/02/2020
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - MAATSCHAPPELIJKE ZETEL - DIVERSEN - ONTSLAGEN - BENOEMINGEN - ALGEMENE VERGADERING
PDF
Capital / shares17/01/2018
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Capital / shares04/07/2017
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates21/10/2016
ONTSLAGEN - BENOEMINGEN
PDF
Other27/06/2014
DIVERSEN
PDF
Mandates27/11/2013
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares13/03/2012
KAPITAAL - AANDELEN
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

2024
Annual accounts 2024274,2 k €↑
2023
Annual accounts 2023-292,8 k €↑
2022
Annual accounts 2022-33,9 M €↓
2021
Annual accounts 2021-9,5 M €↓
2020
Annual accounts 2020-18,2 k €↓
2019
Annual accounts 2019572,9 k €↑
2018
Annual accounts 2018-156,7 k €↑
2017
Annual accounts 2017-4,1 M €↓
2016
Annual accounts 2016623,3 k €↓
2015
Annual accounts 2015853,8 k €↓
2014
Annual accounts 201426,3 M €↑
2013
Annual accounts 2013733,1 k €↑
2012
Annual accounts 2012727,1 k €↓
2011
Annual accounts 20113,8 M €↑
2010
Annual accounts 20102,9 M €↑
2009
Annual accounts 2009625,4 k €↑
2008
Annual accounts 2008438,2 k €↓
2007
Annual accounts 20071,5 M €↑
2006
Annual accounts 2006454,1 k €
04/07/1994
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

MADIN

Overview

What does MADIN do?

Trend over 19 financial years

Indicative valuation

Board of directors

Other companies at this address

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