MADEF
0823.353.222 · rovalta.com · 22/09/2026
ACTIVE
MADEF
Financial year 2025 · closed on 30/09/2025
Net result
-11,6 k €
-125.2% YoY
Gross margin
180,7 k €
+65.3% YoY
Equity
263,9 k €
-4.2% YoY
Overview
What does MADEF do?
MADEF is a Private limited company incorporated in 2010. Its main activity is: Buying and selling of own real estate. Its registered office is in Liège.
Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0823.353.222
Incorporation
23/02/2010
Legal form
Private limited company
Registered office
Rue Henri-Maus 225
4000 Liège · WallonieSee on map
4000 Liège · WallonieSee on map
Contributed capital
100 000,00 €
Latest accounts
30/09/2025
Activities (NACE)
68100Buying and selling of own real estate· main68110Buying and selling of own real estate68201Rental and operating of own or leased real estate68201Rental and operating of own or leased real estate68203Rental and operating of own or leased real estate68203Rental and operating of own or leased real estate+2
Signals
Positive cashflowPositive EBITDA
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Financials
Trend over 15 financial years
| 2025 | 2024 | 2023 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | |||||||||||||||||||||||||||||
| Gross margin | 180,7 k € | +65.3% | 109,4 k € | -16.9% | 131,6 k € | +117% | 60,7 k € | +4.1% | 58,2 k € | -12.3% | 66,4 k € | +13.7% | 58,4 k € | -4.9% | 61,4 k € | -1.6% | 62,5 k € | -3.7% | 64,9 k € | -0.4% | 65,1 k € | -0.8% | 65,7 k € | +21.9% | 53,9 k € | +1983% | -2,9 k € | -83.4% | -1,6 k € |
| EBITDA | 164,8 k € | +175% | 60 k € | -39.8% | 99,6 k € | +87.1% | 53,3 k € | -3.1% | 54,9 k € | -13.5% | 63,5 k € | +18.9% | 53,4 k € | -8.5% | 58,3 k € | -1.4% | 59,2 k € | -5.1% | 62,3 k € | +5.2% | 59,2 k € | -6.0% | 63 k € | +22.6% | 51,4 k € | +1079% | -5,3 k € | -78.0% | -2,9 k € |
| Operating result | -31,3 k € | -208% | 28,9 k € | -37.4% | 46,2 k € | +103% | 22,7 k € | -7.0% | 24,4 k € | -34.1% | 37 k € | +39.8% | 26,5 k € | +7.5% | 24,6 k € | +172% | 9,1 k € | -14.6% | 10,6 k € | -17.6% | 12,9 k € | -24.9% | 17,1 k € | +73.4% | 9,9 k € | +288% | -5,3 k € | -78.0% | -2,9 k € |
| Net result | -11,6 k € | -125% | 46 k € | -25.8% | 62,1 k € | +404% | 12,3 k € | -16.4% | 14,7 k € | -28.4% | 20,6 k € | +18.5% | 17,3 k € | -10.3% | 19,3 k € | +527% | 3,1 k € | +152% | 1,2 k € | +52.4% | 803 € | -80.0% | 4 k € | +202% | -3,9 k € | +72.2% | -14,2 k € | -82.0% | -7,8 k € |
| Balance sheet | |||||||||||||||||||||||||||||
| Equity | 263,9 k € | -4.2% | 275,5 k € | +20.1% | 229,5 k € | +37.1% | 167,4 k € | +7.9% | 155,1 k € | +10.5% | 140,4 k € | +17.1% | 119,9 k € | +16.9% | 102,5 k € | +23.2% | 83,2 k € | +3.8% | 80,1 k € | +1.6% | 78,9 k € | +1.0% | 78,1 k € | +5.4% | 74,1 k € | -5.1% | 78 k € | -15.4% | 92,2 k € |
| Total assets | 2,3 M € | +8.8% | 2,1 M € | +91.7% | 1,1 M € | +69.9% | 638,9 k € | -6.6% | 684,2 k € | +4.9% | 652,2 k € | -0.1% | 652,8 k € | -0.6% | 657 k € | -0.7% | 661,8 k € | -2.1% | 676 k € | +15.3% | 586,2 k € | -3.5% | 607,7 k € | -4.6% | 637 k € | +20.1% | 530,6 k € | +82.7% | 290,5 k € |
| Cash | 66,5 k € | -7.0% | 71,5 k € | +103% | 35,2 k € | -51.1% | 71,8 k € | -21.4% | 91,4 k € | -70.3% | 308,2 k € | +9.2% | 282,3 k € | +67.7% | 168,4 k € | +20.7% | 139,5 k € | +34.8% | 103,5 k € | +44.4% | 71,7 k € | +44.9% | 49,4 k € | +22.2% | 40,5 k € | +2637% | 1,5 k € | -42.8% | 2,6 k € |
| Debts | 2 M € | +10.6% | 1,8 M € | +115% | 831,6 k € | +80.0% | 462 k € | -11.5% | 522 k € | +3.4% | 504,7 k € | -3.9% | 525,3 k € | -4.8% | 551,6 k € | -4.2% | 575,7 k € | -3.2% | 594,8 k € | +17.2% | 507,3 k € | -3.2% | 523,9 k € | -6.0% | 557,2 k € | +23.1% | 452,6 k € | +128% | 198,3 k € |
Estimate
Indicative valuation
As an indication, this company is worth
between 0 € and 100 k€
See the valuationGovernance
Board of directors
Seen on filing of 30/09/2025 · 1 active · 1 ended
Active mandates
Bernard DEFFET
ActiveEnded mandates
Bernard DEFFET
EndedFinancials
Annual accounts
Full financial information
| 2025 | 2024 | 2023 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|
| Type of account | Micro model | Micro model | Micro model | Micro model | Micro model | Micro model |
| Start of the financial year | 01/10/2024 | 01/10/2023 | 01/01/2022 | 01/01/2021 | 01/01/2020 | 01/01/2019 |
| Closing of the financial year | 30/09/2025 | 30/09/2024 | 30/09/2023 | 31/12/2021 | 31/12/2020 | 31/12/2019 |
| Length of the financial year | 12 months | 12 months | 21 months | 12 months | 12 months | 12 months |
| Filing date | 29/04/2026 | 23/04/2025 | 04/03/2024 | 20/04/2022 | 30/08/2021 | 30/07/2020 |
| General meeting | 28/03/2026 | 28/03/2025 | 01/03/2024 | 23/03/2022 | 30/06/2021 | 30/06/2020 |
| 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
Looking for more information about this company?
Try for 7 daysFilings
Annual accounts filings
15 filings with the NBB
| Model | Closing | General meeting | Filed | Language | Document |
|---|---|---|---|---|---|
| Micro model | 30/09/2025 | 28/03/2026 | 29/04/2026 | French | |
| Micro model | 30/09/2024 | 28/03/2025 | 23/04/2025 | French | |
| Micro model | 30/09/2023 | 01/03/2024 | 04/03/2024 | French | |
| Micro model | 31/12/2021 | 23/03/2022 | 20/04/2022 | French | |
| Micro model | 31/12/2020 | 30/06/2021 | 30/08/2021 | French | |
| Micro model | 31/12/2019 | 30/06/2020 | 30/07/2020 | French | |
| Micro model | 31/12/2018 | 30/06/2019 | 17/07/2019 | French | |
| Micro model | 31/12/2017 | 30/06/2018 | 30/08/2018 | French | |
| Micro model | 31/12/2016 | 30/06/2017 | 28/07/2017 | French | |
| Abridged model | 31/12/2015 | 30/06/2016 | 25/07/2016 | French | |
| Abridged model | 31/12/2014 | 30/06/2015 | 24/07/2015 | French | |
| Abridged model | 31/12/2013 | 30/06/2014 | 31/07/2014 | French | |
| Abridged model | 31/12/2012 | 30/06/2013 | 30/08/2013 | French | |
| Abridged model | 31/12/2011 | 30/06/2012 | 31/07/2012 | French | |
| Abridged model | 31/12/2010 | 21/06/2011 | 04/07/2011 | French |
Valuation
Estimate
Indicative valuation
Order of magnitude
As an indication, this company is worth
between 0 € and 100 k€
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 30/09/2025 · 1 active · 1 ended
Active mandates
Bernard DEFFET
ActiveEnded mandates
Bernard DEFFET
EndedShareholders
Ownership and network
Looking for more information about this company?
Try for 7 daysPublications
Belgian Official Gazette
Belgian Official Gazette publications
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 2025-11,6 k €↓
- 2024Annual accounts 202446 k €↓
- 2023Annual accounts 202362,1 k €↑
- 2021Annual accounts 202112,3 k €↓
- 2020Annual accounts 202014,7 k €↓
- 2019Annual accounts 201920,6 k €↑
- 2018Annual accounts 201817,3 k €↓
- 2017Annual accounts 201719,3 k €↑
- 2016Annual accounts 20163,1 k €↑
- 2015Annual accounts 20151,2 k €↑
- 2014Annual accounts 2014803 €↓
- 2013Annual accounts 20134 k €↑
- 2012Annual accounts 2012-3,9 k €↑
- 2011Annual accounts 2011-14,2 k €↓
- 2010Annual accounts 2010-7,8 k €
- 23/02/2010IncorporationPrivate limited company