M-A
ActiveSummary
M-A has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€151,065) and a net result of -€17,023. Equity is shrinking by ~91.6% per year across the filed fiscal years. Its solvency ranks better than 8% of 18537 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0=
Solvency0=
Growth32=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity ample (current ratio 2.66 against 0.45 in 2024; short-term debt: 19.8% and cash: 0.1% of total assets), but equity is negative.
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Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-148.9%
Return on assets
-16.8%
Age of the figures
12 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€151,065
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 28-04-2026, 2 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
2 d early
2024
61 d late
2023
31 d late
2022
1 d early
2021
1 d early
2020
on the day
2019
69 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 22 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
28-09-2026 today30-09-2026 close30-04-2027 deadline
History
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How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
-€151,065▼ 12.7%
2024 · -€134,042
Total assets
€101,453▼ 14.5%
2024 · €118,641
Net result
-€17,023▲ 59.7%
2024 · -€42,259
Working capital
€33,237
2024 · -€67,274
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€9,709▲ 41.7%-€29,500▼ 204%-€48,353▼ 63.9%-€42,079▲ 13.0%-€16,888▲ 59.9%
Net result-€8,425below the sector's middle half▲ 62.1%-€29,659below the sector's middle half▼ 252%-€48,532below the sector's middle half▼ 63.6%-€42,259below the sector's middle half▲ 12.9%-€17,023below the sector's middle half▲ 59.7%
Equity-€13,592below the sector's middle half▼ 163%-€43,251below the sector's middle half▼ 218%-€91,783below the sector's middle half▼ 112%-€134,042below the sector's middle half▼ 46.0%-€151,065below the sector's middle half▼ 12.7%
Total assets€173,993within the sector's middle half▼ 16.5%€138,860within the sector's middle half▼ 20.2%€130,219within the sector's middle half▼ 6.2%€118,641within the sector's middle half▼ 8.9%€101,453within the sector's middle half▼ 14.5%
Debt€187,585▼ 12.2%€182,111▼ 2.9%€222,002▲ 21.9%€252,683▲ 13.8%€252,518▼ 0.1%
Working capital€1,249€4,538▲ 263%-€49,840-€67,274▼ 35.0%€33,237
Solvency-7.8%below the sector's middle half▼ 5.3pp-31.1%below the sector's middle half▼ 23.3pp-70.5%below the sector's middle half▼ 39.3pp-113.0%below the sector's middle half▼ 42.5pp-148.9%below the sector's middle half▼ 35.9pp
Staff (FTE)2.9▲ 190%1.8▼ 37.9%
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €16,888 in 2025 against €42,079 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €101,453
Fixed assets
€48,159 ▼ 25.3%
Current assets
€53,294 ▼ 1.7%
Key figures and ratios
EBITDA
-€615▲
2024 · -€16,919
Cash flow
-€751▲
2024 · -€17,098
Current ratio
2.66▲
2024 · 0.45
Debt to equity
-1.67▲
2024 · -1.89
ROA
-16.8%▲
2024 · -35.6%
Interest coverage
-4.53▲
2024 · -94.29
Debt ≤ 1 year
€20,056▼
2024 · €121,483
Debt > 1 year
€232,461▲
2024 · €131,200
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,940 companies that looked in July 2024 the way this one looks now, 5.5% went bankrupt within 24 months and 85% are still going.
- Micro
- 10 to 20 years old
- negative equity
- a loss of 10% of the balance sheet or more
5.5%
went bankrupt
8.0%
stopped otherwise
85%
still going
A further 1.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.4% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 6,940 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €53,017 | €47,809 | €64,928 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €35,775 | €31,959 | €0 | €25,160 | €16,273 | ▼ 35.3% |
| Other operating charges640/8 | €639 | €35 | - | €2,214 | €401 | ▼ 81.9% |
| Non-recurring operating charges66A | - | - | - | €5,150 | - | - |
| Gross operating margin9900 | €79,723 | €50,304 | €16,575 | -€9,555 | -€214 | ▲ 97.8% |
| Operating profit (loss)9901 | -€9,709 | -€29,500 | -€48,353 | -€42,079 | -€16,888 | ▲ 59.9% |
| Financial income75/76B | €2,295 | - | €0 | - | - | - |
| Recurring financial income75 | €2,295 | - | €0 | - | - | - |
| Financial charges65/66B | €872 | €159 | €179 | €179 | €136 | ▼ 24.3% |
| Recurring financial charges65 | €872 | €159 | €179 | €179 | €136 | ▼ 24.3% |
| Profit (loss) for the period before taxes9903 | -€8,286 | -€29,659 | -€48,532 | -€42,259 | -€17,023 | ▲ 59.7% |
| Income taxes67/77 | €139 | €0 | - | - | - | - |
| Profit (loss) for the period9904 | -€8,425 | -€29,659 | -€48,532 | -€42,259 | -€17,023 | ▲ 59.7% |
| Profit (loss) for the period to be appropriated9905 | -€8,425 | -€29,659 | -€48,532 | -€42,259 | -€17,023 | ▲ 59.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €173,993 | €138,860 | €130,219 | €118,641 | €101,453 | ▼ 14.5% |
| Fixed assets21/28 | €117,537 | €84,528 | €89,592 | €64,432 | €48,159 | ▼ 25.3% |
| Tangible fixed assets22/27 | €116,487 | €84,528 | €89,592 | €64,432 | €48,159 | ▼ 25.3% |
| Land and buildings22 | €19,540 | €16,576 | €16,576 | €13,531 | €10,486 | ▼ 22.5% |
| Plant, machinery and equipment23 | €1,250 | €200 | €200 | €0 | €0 | - |
| Furniture and vehicles24 | €94,713 | €67,261 | €72,325 | €50,901 | €37,673 | ▼ 26.0% |
| Leasing and similar rights25 | €984 | €492 | €492 | €0 | €0 | - |
| Other tangible fixed assets26 | - | - | - | €0 | €0 | - |
| Financial fixed assets28 | €1,050 | - | - | - | - | - |
| Current assets29/58 | €56,456 | €54,332 | €40,626 | €54,209 | €53,294 | ▼ 1.7% |
| Amounts receivable within one year40/41 | €12,193 | €13,555 | €21,555 | €53,227 | €53,227 | = |
| Trade receivables40 | €12,193 | €13,248 | €20,185 | €51,868 | €51,868 | = |
| Other amounts receivable41 | €0 | €307 | €1,369 | €1,359 | €1,359 | = |
| Cash at bank and in hand54/58 | €39,855 | €32,993 | €11,105 | €982 | €67 | ▼ 93.2% |
| Deferred charges and accrued income490/1 | €4,408 | €7,784 | €7,967 | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €173,993 | €138,860 | €130,219 | €118,641 | €101,453 | ▼ 14.5% |
| Equity10/15 | -€13,592 | -€43,251 | -€91,783 | -€134,042 | -€151,065 | ▼ 12.7% |
| Contributions10/11 | €340,000 | €340,000 | €340,000 | €340,000 | €340,000 | = |
| Outside capital11 | €340,000 | - | - | - | - | - |
| Other1109/19 | €340,000 | - | - | - | - | - |
| Profit (loss) carried forward14 | -€353,592 | -€383,251 | -€431,783 | -€474,042 | -€491,065 | ▼ 3.6% |
| Amounts payable17/49 | €187,585 | €182,111 | €222,002 | €252,683 | €252,518 | ▼ 0.1% |
| Amounts payable after more than one year17 | €131,200 | €131,200 | €131,200 | €131,200 | €232,461 | ▲ 77.2% |
| Other amounts payable178/9 | €131,200 | €131,200 | €131,200 | €131,200 | €232,461 | ▲ 77.2% |
| Amounts payable within one year42/48 | €55,207 | €49,794 | €90,466 | €121,483 | €20,056 | ▼ 83.5% |
| Current portion of amounts payable after more than one year42 | €0 | - | - | - | - | - |
| Trade debts44 | €3,380 | €262 | - | €18,283 | €18,283 | = |
| Suppliers440/4 | €3,380 | €262 | - | €18,283 | €18,283 | = |
| Taxes, remuneration and social security45 | €8,952 | €11,740 | €2,572 | €1,773 | €1,773 | = |
| Taxes450/3 | €8,702 | €7,332 | - | €1,773 | €1,773 | = |
| Remuneration and social security454/9 | €250 | €4,408 | €2,572 | - | - | - |
| Other amounts payable47/48 | €42,875 | €37,792 | €87,895 | €101,426 | - | - |
| Accrued charges and deferred income492/3 | €1,178 | €1,118 | €336 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€8,425 | -€29,659 | -€48,532 | -€42,259 | -€17,023 | ▲ 59.7% |
| + Depreciation and write-downs630 | €35,775 | €31,959 | €0 | €25,160 | €16,273 | ▼ 35.3% |
| Operating cash flow (approximation) | €27,350 | €2,300 | -€48,532 | -€17,098 | -€751 | ▲ 95.6% |
| Investment in fixed assets (approximation) | - | €1,050 | -€5,064 | €0 | €0 | - |
| Change in cash | - | -€6,862 | -€21,888 | -€10,123 | -€915 | ▲ 91.0% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
28-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-09
Financial
Liquidity times 6current ratio 2.66
Current ratio from 0.45 to 2.66; short-term debt falls from €121,483 to €20,056.
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 61 days late
2024
31-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 31 days late
2023
29-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
29-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
08-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 69 days late
2019
30-09
Financial
Weakest financial yearnet -€97,970
Net result drops to -€97,970, the lowest in the series; recovery starts the following year.
05-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 66 days late
2018
12-04
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
03-04
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Beauvechain · 1 establishment unit since 2013
Ground area
4,266 m²
Building footprint
249 m²
Volume, LiDAR
1,728 m³
2 parcels, Wallonia · tallest building 9.9 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
M-A
since 20132.243.601.882
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25038C0313/00A002 | Wallonia | 2,641 m² | 1 · 177 m² | 9.9 m · 3 fl. |
| 25038C0266/00A000 | Wallonia | 1,626 m² | 1 · 72 m² | 5.4 m · 1 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 1,290 companies in sector 47690 we hold annual accounts for 425. 263 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formCoöperatieve vennootschap met beperkte aansprakelijkheid
Founded27-05-2013
Fiscal year end30-09
Activities, NACEBEL 2025
47690Retail sale of other cultural and recreation goods
77229Renting and leasing of other personal and household goods
Contact
Website
www.musicaction.beBeauvechain
E-mail
info@musicaction.beBeauvechain
Phone
0497/412715Beauvechain
E-invoicing
Not found in the Peppol register
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
What can you do?
Try sending from your invoicing software; if that fails, ask the customer whether they already receive via Peppol.
If the customer is not ready yet, you may send the invoice another way, for example as a PDF; if electronically, with their agreement on a secure alternative. That invoice is valid; the customer risks a penalty. FPS Finance
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.