ACTIVE

MACADAM BELGIUM

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Financial year 2025 · closed on 31/12/2025

Net result

-29,9 k €

-107.0% YoY

Gross margin

5,1 M €

-16.2% YoY

Equity

948,4 k €

-3.1% YoY

Workforce

73,3 ETP

-12.0% YoY

What does MACADAM BELGIUM do?

MACADAM BELGIUM is a Public limited company incorporated in 2011. Its main activity is: Technical testing and analysis. Its registered office is in Vilvoorde. It employs on average 73,3 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0836.746.447

Incorporation

06/06/2011

Legal form

Public limited company

Registered office

Schaarbeeklei 613
1800 Vilvoorde · FlandreSee on map

Contributed capital

76 384,95 €

Latest accounts

31/12/2025

Average workforce

73,3 ETP

Activities (NACE)

71209Technical testing and analysis· main 71209Technical testing and analysis 74909Other professional, scientific and technical activities n.e.c.74999Other professional, scientific and technical activities n.e.c.

Joint committees (2)

Contacts

2 public details availableLog in to view

Signals

Low 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 15 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011
Income statement
Gross margin	5,1 M €	-16.2%	6,1 M €	+9.1%	5,6 M €	+40.2%	4 M €	+3.4%	3,9 M €	+5.7%	3,7 M €	-16.2%	4,4 M €	+35.9%	3,2 M €	+34.0%	2,4 M €	+43.7%	1,7 M €	+17.6%	1,4 M €	+8.5%	1,3 M €	+7.2%	1,2 M €	+23.4%	989,1 k €	+154%	390,1 k €
EBITDA	223,5 k €	-72.1%	802,2 k €	-15.1%	945,4 k €	+47.4%	641,4 k €	+5.0%	611,1 k €	+13.7%	537,6 k €	-53.9%	1,2 M €	+114%	544,4 k €	-0.9%	549,5 k €	+16.2%	472,8 k €	+56.1%	302,8 k €	+4.8%	289 k €	-13.0%	332,2 k €	+144%	135,9 k €	+574%	20,2 k €
Operating result	109,2 k €	-84.2%	692,9 k €	-20.7%	873,4 k €	+45.3%	601,2 k €	+18.3%	508,1 k €	+22.2%	415,6 k €	-57.7%	982 k €	+178%	352,9 k €	-12.8%	404,8 k €	-0.3%	406 k €	+72.4%	235,5 k €	-13.3%	271,6 k €	-17.9%	331 k €	+149%	132,9 k €	+1112%	11 k €
Net result	-29,9 k €	-107%	424,2 k €	-21.9%	543,2 k €	+44.8%	375,2 k €	+19.2%	314,8 k €	+27.6%	246,7 k €	-61.6%	642,6 k €	+199%	215,1 k €	-12.3%	245,3 k €	-5.2%	258,8 k €	+80.5%	143,4 k €	-11.7%	162,4 k €	-19.5%	201,7 k €	+153%	79,7 k €	+1487%	-5,7 k €
Balance sheet
Equity	948,4 k €	-3.1%	978,3 k €	+7.0%	914,1 k €	-5.9%	970,9 k €	-44.4%	1,7 M €	+22.0%	1,4 M €	+20.8%	1,2 M €	+119%	541,7 k €	+27.0%	426,6 k €	+14.5%	372,5 k €	+128%	163,6 k €	-60.1%	410,3 k €	+33.3%	307,9 k €	+85.3%	166,2 k €	+92.2%	86,5 k €
Total assets	3,3 M €	+3.7%	3,2 M €	+1.5%	3,1 M €	+58.9%	2 M €	-29.1%	2,8 M €	+13.6%	2,5 M €	+6.4%	2,3 M €	+27.2%	1,8 M €	+11.0%	1,6 M €	+136%	690,8 k €	+4.3%	662,2 k €	-37.5%	1,1 M €	+33.5%	793,5 k €	+56.7%	506,3 k €	-4.7%	531,4 k €
Cash	554,4 k €	+9.7%	505,3 k €	+680%	64,8 k €	-89.9%	638,2 k €	-62.7%	1,7 M €	+73.4%	987 k €	+51.1%	653,3 k €	+784%	73,9 k €	-34.9%	113,6 k €	-38.7%	185,3 k €	+125%	82,2 k €	-61.0%	211 k €	+267%	57,5 k €	+166%	21,6 k €	-77.4%	95,6 k €
Debts	2,3 M €	+6.7%	2,2 M €	-0.8%	2,2 M €	+121%	999,7 k €	-3.5%	1 M €	+1.8%	1 M €	-8.9%	1,1 M €	-12.0%	1,3 M €	+5.4%	1,2 M €	+278%	318,3 k €	-36.1%	498,5 k €	-23.2%	649 k €	+38.4%	468,9 k €	+37.8%	340,1 k €	-23.6%	444,9 k €
Other
Workforce	73,3 ETP	-12.0%	83,3 ETP	+9.7%	75,9 ETP	+27.3%	59,6 ETP	-1.8%	60,7 ETP	-3.7%	63,0 ETP	+2.4%	61,5 ETP	+24.0%	49,6 ETP	+30.9%	37,9 ETP	+49.8%	25,3 ETP	+6.3%	23,8 ETP	+9.7%	21,7 ETP	+10.7%	19,6 ETP	+7.1%	18,3 ETP	+120%	8,3 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 · 31 ended

Active mandates

Bertrand Donck

Managing director · since 04 juin 2025 · until 07 juin 2028

Active

MACADAM EUROPE NV

Director · since 04 juin 2025 · until 07 juin 2028 · 0881.767.513

Represented by Bertrand Donck

Active

Ended mandates

MACADAM EUROPE NV

Director · since 07 juin 2023 · until 03 juin 2025 · 0881.767.513

Represented by Bertrand Donck

Ended

Bertrand Donck

Managing director · since 02 juin 2022 · until 04 juin 2025

Ended

Bertrand Donck

Director · since 03 juin 2020 · until 07 juin 2023

Ended

Bertrand DONCK

Managing director · since 03 juin 2020 · until 02 juin 2021

Ended

At this address

Other companies at this address

Company	CBE no.
BXB SERVICES● Active	0820.235.364
EUROFLEET CONSULT● Active	0473.468.183
Expertisebureau Vlaanderen● Active	0809.255.657
MACADAM EUROPE NV● Active	0881.767.513
MACADAM TECHNOLOGIES● Active	0795.443.550
MAJD COMPANY● Active	0771.592.735

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	29/07/2026	04/08/2025	05/06/2024	27/06/2023	22/06/2022	10/06/2021
General meeting	17/06/2026	04/06/2025	05/06/2024	07/06/2023	01/06/2022	02/06/2021
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

15 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	17/06/2026	29/07/2026	Dutch	PDF
Abridged model	31/12/2024	04/06/2025	04/08/2025	Dutch	PDF
Abridged model	31/12/2023	05/06/2024	05/06/2024	Dutch	PDF
Abridged model	31/12/2022	07/06/2023	27/06/2023	Dutch	PDF
Abridged model	31/12/2021	01/06/2022	22/06/2022	Dutch	PDF
Abridged model	31/12/2020	02/06/2021	10/06/2021	Dutch	PDF
Abridged model	31/12/2019	03/06/2020	29/06/2020	Dutch	PDF
Abridged model	31/12/2018	05/06/2019	10/07/2019	Dutch	PDF
Abridged model	31/12/2017	06/06/2018	25/07/2018	Dutch	PDF
Abridged model	31/12/2016	07/06/2017	30/06/2017	Dutch	PDF
Abridged model	31/12/2015	01/06/2016	29/06/2016	Dutch	PDF
Abridged model	31/12/2014	03/06/2015	06/07/2015	Dutch	PDF
Abridged model	31/12/2013	04/06/2014	29/08/2014	Dutch	PDF
Abridged model	31/12/2012	05/06/2013	29/08/2013	Dutch	PDF
Abridged model	31/12/2011	30/06/2012	27/07/2012	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 · 31 ended

Active mandates

Bertrand Donck

Managing director · since 04 juin 2025 · until 07 juin 2028

Active

MACADAM EUROPE NV

Director · since 04 juin 2025 · until 07 juin 2028 · 0881.767.513

Represented by Bertrand Donck

Active

Ended mandates

MACADAM EUROPE NV

Director · since 07 juin 2023 · until 03 juin 2025 · 0881.767.513

Represented by Bertrand Donck

Ended

Bertrand Donck

Managing director · since 02 juin 2022 · until 04 juin 2025

Ended

Bertrand Donck

Director · since 03 juin 2020 · until 07 juin 2023

Ended

Bertrand DONCK

Managing director · since 03 juin 2020 · until 02 juin 2021

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates09/01/2025
ONTSLAGEN - BENOEMINGEN
PDF
Other11/08/2022
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - BENAMING
PDF
Mandates09/08/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates16/07/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates24/07/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates25/09/2018
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares27/07/2017
BENAMING - KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates17/07/2017
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 2025-29,9 k €↓
2024
Annual accounts 2024424,2 k €↓
2023
Annual accounts 2023543,2 k €↑
2022
Annual accounts 2022375,2 k €↑
2022
Name changeMacadam Belgium
2021
Annual accounts 2021314,8 k €↑
2021
Name changeMACADAM VAB INSPECTION
2020
Annual accounts 2020246,7 k €↓
2019
Annual accounts 2019642,6 k €↑
2018
Annual accounts 2018215,1 k €↓
2017
Annual accounts 2017245,3 k €↓
2016
Annual accounts 2016258,8 k €↑
2015
Annual accounts 2015143,4 k €↓
2014
Annual accounts 2014162,4 k €↓
2013
Annual accounts 2013201,7 k €↑
2012
Annual accounts 201279,7 k €↑
2011
Annual accounts 2011-5,7 k €
06/06/2011
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

MACADAM BELGIUM

Overview

What does MACADAM BELGIUM do?

Trend over 15 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