Peter Paracelsus is a genius working at Chematon, a chemical plant of Mr. `Didi` Donders. At a certain moment he invents a formula to make artificial gold and so becomes the `modern Midas`. That is of most interest of IVIS (International Organisation of Industrial Espionage) who sends the two spies Renée and the clumsy Blabber to try to steal the invention. An exciting adventure starts for Paracelsus and his family. They get the help from Inspector Renneville from Interpol to hide from the bandits. At the end also the government asks Paracelsus to hand over his formula, after which he decides the world is better off without and destroys the formula.