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Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Not on Peppol Peppol
Not registered in the Peppol network, mandatory for VAT-liable companies since 1 January 2026.
Financials
Financial year 2025
MAD & C° from Elsene, company number BE0864356112, closed financial year 2025 with a result of € -36,032 after tax. For that financial year MAD & C° recorded a gross margin of € -1,552 and equity of € 3 million. Compared with financial year 2024, the result moved from € 251,733 to € -36,032. The company made a loss. The company holds a healthy buffer. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on August 31, 2026.
€ 3 million
▼ 1% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -36,032
▼ still € 251,733 profit in 2024
Profit after tax over the fiscal year.
€ 107,092
▼ 71% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € 2.3 million.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 708
Supplier invoices still open on the last day of the fiscal year.
€ 6,460
▼ 3% vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € -1,827 | € -2,862 | € -429 | € -1,552 | ▼ € 1,123 |
| Profit after taxes | € -138,642 | € 450,696 | € 251,733 | € -36,032 | ▼ € 287,765 |
| Equity | € 2,919,742 | € 3,094,438 | € 2,986,170 | € 2,950,138 | ▼ 1% |
| Total debts | € 2,067 | € 2,792 | € 387,459 | € 17,102 | ▼ 96% |
| Cash | € 319,488 | € 149,240 | € 365,445 | € 107,092 | ▼ 71% |
| Retained profit | € 2,229,742 | € 2,404,438 | € 2,296,170 | € 2,260,138 | ▼ 2% |
| Dividend | € 0 | € 276,000 | € 360,000 | € 0 | ▼ 100% |
| Bank debt | € 613 | € 0 | € 0 | € 0 | |
| Balance sheet total | € 2,921,809 | € 3,097,230 | € 3,373,630 | € 2,967,240 | ▼ 12% |
Key figures of MAD & C°, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to MAD & C°?
What happened at MAD & C° in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 36,032 (▼ € 287,765 vs 2024). filed late Source: NBB ↗
- Start of the company according to the CBE. KBO
In short
From € 138,642 loss in 2022 to € 36,032 loss in 2025.
Paid € 18,779 in corporate taxes since 2022.
Best year ever: 2023, with € 450,696 profit.
Paid out € 636,000 in dividends to the owners in total.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The stake of ARFIN, Pierre Nothomb comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
MAD & C°Behind MAD & C° are ARFIN SPRL, SANDRINE DELACROIX and PIERRE NOTHOMB. The shares are held by ARFIN (99.6%) and Pierre Nothomb (99.6%). It owns 39.2% of Deminor SA, 30% of DRS INTERNATIONAL (LU B175.299) and 10% of ABYSSIN PRODUCTIONS itself.
Directors
According to the 2025 annual accounts
Director · represented by PIERRE NOTHOMB
PIERRE NOTHOMB
Managing director
Also active at: ARFIN, DRS BELGIUM, DEMINOR, Pierre Nothomb, FONDATION ULB
Shareholders
99.6%
99.6%
Participations
Establishments
Establishment units
Physical locations of this company
Renbaanlaan 35
1050 Elsene
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 3 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0864.356.112
- VAT number
- BE 0864.356.112
- Registered office
- Renbaanlaan 35, 1050 Elsene
- Names & denominations
- MAD & C°
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 29 March 2004
- Peppol
- Not registered