M.A. SERVICES
ActiveSummary
M.A. SERVICES has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€158,525) and a net result of €15,354. Equity is growing by ~13.8% per year across the filed fiscal years. Its solvency ranks better than 5% of 52 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability58▼-33
Solvency8▲+3
Growth67▼-2
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity ample (current ratio 2.15 against 2.7 in 2024; short-term debt: 36.5% and cash: 42.4% of total assets), but equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 80
Relative position
BE, all sectors
reference
Investigation and security activities (NACE 80)
about 5% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 52 sector peers (2025).
NBB · sector comparisonPosition among 52 sector peers
Solvency
better than 5%
← weakest
strongest →
neutral · A punctual record breaks
This company filed 5 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 25-08-2026, 25 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
25 d late
2024
34 d early
2023
26 d early
2022
33 d early
2021
18 d early
2020
16 d early
2019
14 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 13 days before the deadline; the sector median for financial year 2024 is 2 days before the deadline, and 42% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 6 July (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
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 Is the workforce growing, and do people stay?Employer check 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 What other support did companies like this one receive, and it did not?Public money
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Financials · fiscal year 2025, full schema
Turnover
€1.7m▼ 5.8%
2024 · €1.8m
EBIT margin
2.3%▼ 11.9pp
2024 · 14.2%
Net result
€15,354▼ 91.9%
2024 · €188,444
Working capital
€395,355▼ 16.6%
2024 · €473,770
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 80, Investigation and security activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€1.2m▲ 29.0%€1.3m▲ 6.7%€1.4m▲ 6.6%€1.8m▲ 34.8%€1.7m▼ 5.8%
Operating result€66,202€71,139▲ 7.5%€87,422▲ 22.9%€260,214▲ 198%€39,640▼ 84.8%
Net result€63,995within the sector's middle half€68,592within the sector's middle half▲ 7.2%€83,639within the sector's middle half▲ 21.9%€188,444within the sector's middle half▲ 125%€15,354▼ 91.9%
EBIT margin5.5%▲ 14.1pp5.6%=6.4%▲ 0.9pp14.2%▲ 7.8pp2.3%▼ 11.9pp
Equity-€514,554below the sector's middle half▲ 11.1%-€445,962below the sector's middle half▲ 13.3%-€362,323below the sector's middle half▲ 18.8%-€173,880below the sector's middle half▲ 52.0%-€158,525below the sector's middle half▲ 8.8%
Total assets€382,344within the sector's middle half▲ 21.2%€525,013within the sector's middle half▲ 37.3%€591,931within the sector's middle half▲ 12.7%€863,379within the sector's middle half▲ 45.9%€939,342▲ 8.8%
Debt€896,898▲ 0.3%€970,976▲ 8.3%€954,254▼ 1.7%€1.0m▲ 8.7%€1.1m▲ 5.8%
Working capital€186,301within the sector's middle half▲ 162%€321,416within the sector's middle half▲ 72.5%€285,963within the sector's middle half▼ 11.0%€473,770within the sector's middle half▲ 65.7%€395,355within the sector's middle half▼ 16.6%
Solvency-134.6%below the sector's middle half▲ 48.9pp-84.9%below the sector's middle half▲ 49.6pp-61.2%below the sector's middle half▲ 23.7pp-20.1%below the sector's middle half▲ 41.1pp-16.9%below the sector's middle half▲ 3.3pp
Current ratio2.31above the sector's middle half▲ 0.802.88above the sector's middle half▲ 0.572.58above the sector's middle half▼ 0.302.70above the sector's middle half▲ 0.122.15within the sector's middle half▼ 0.54
Return on assets (ROA)16.7%above the sector's middle half▲ 42.7pp13.1%above the sector's middle half▼ 3.7pp14.1%above the sector's middle half▲ 1.1pp21.8%above the sector's middle half▲ 7.7pp1.6%within the sector's middle half▼ 20.2pp
Staff (FTE)11.4within the sector's middle half▼ 4.2%11.3within the sector's middle half▼ 0.9%11.3within the sector's middle half=13.3within the sector's middle half▲ 17.7%13.8below the sector's middle half▲ 3.8%
above
within
below
the middle half (P25 to P75) of NACE 80, Investigation and security activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 85% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €939,342
Fixed assets
€201,120 ▲ 82.4%
Current assets
€738,222 ▼ 2.0%
Key figures and ratios
EBITDA
€59,882▼
2024 · €276,255
Cash flow
€35,597▼
2024 · €204,484
Debt to equity
-6.93▼
2024 · -5.97
Interest coverage
29.68▼
2024 · 71.80
Debt ≤ 1 year
€342,867▲
2024 · €279,334
Debt > 1 year
€755,000=
2024 · €755,000
Income taxes
€21,764▼
2024 · €67,451
Staff costs
€1.1m▲
2024 · €1.1m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 522 companies that looked in July 2024 the way this one looks now, 3.8% went bankrupt within 24 months and 94% are still going.
- Small
- 10 to 20 years old
- negative equity
- a profit under 5% of the balance sheet
3.8%
went bankrupt
1.7%
stopped otherwise
94%
still going
A further 0.8% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.7% 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 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 522 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 |
|---|---|---|---|---|---|---|
| Operating income70/76A | €1.2m | €1.3m | €1.4m | €1.9m | €1.7m | ▼ 6.1% |
| Turnover70 | €1.2m | €1.3m | €1.4m | €1.8m | €1.7m | ▼ 5.8% |
| Other operating income74 | €17,820 | €13,156 | €13,258 | €26,063 | €18,341 | ▼ 29.6% |
| Operating charges60/66A | €1.1m | €1.2m | €1.3m | €1.6m | €1.7m | ▲ 6.7% |
| Services and other goods61 | €329,015 | €385,213 | €405,930 | €473,988 | €549,986 | ▲ 16.0% |
| Remuneration, social security and pensions62 | €765,648 | €807,246 | €858,270 | €1.1m | €1.1m | ▲ 2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €51,071 | €21,681 | €20,080 | €16,040 | €20,243 | ▲ 26.2% |
| Other operating charges640/8 | €1,024 | €3,559 | €1,695 | €3,612 | €2,362 | ▼ 34.6% |
| Non-recurring operating charges66A | - | - | - | - | €5,246 | - |
| Operating profit (loss)9901 | €66,202 | €71,139 | €87,422 | €260,214 | €39,640 | ▼ 84.8% |
| Financial income75/76B | €101 | - | - | €121 | €79 | ▼ 35.0% |
| Recurring financial income75 | €101 | - | - | €121 | €79 | ▼ 35.0% |
| Other financial income752/9 | €101 | - | - | €121 | €79 | ▼ 35.0% |
| Financial charges65/66B | €1,831 | €2,076 | €3,313 | €4,441 | €2,600 | ▼ 41.4% |
| Recurring financial charges65 | €1,831 | €2,076 | €3,313 | €4,441 | €2,600 | ▼ 41.4% |
| Debt charges650 | €1,212 | €1,305 | €2,738 | €3,847 | €2,017 | ▼ 47.6% |
| Other financial charges652/9 | €618 | €771 | €574 | €593 | €583 | ▼ 1.8% |
| Profit (loss) for the period before taxes9903 | €64,472 | €69,063 | €84,109 | €255,895 | €37,118 | ▼ 85.5% |
| Income taxes67/77 | €477 | €471 | €470 | €67,451 | €21,764 | ▼ 67.7% |
| Taxes670/3 | €477 | €475 | €470 | €67,451 | €21,803 | ▼ 67.7% |
| Tax adjustments and reversals of tax provisions77 | - | €4 | €0 | - | €39 | - |
| Profit (loss) for the period9904 | €63,995 | €68,592 | €83,639 | €188,444 | €15,354 | ▼ 91.9% |
| Profit (loss) for the period to be appropriated9905 | €63,995 | €68,592 | €83,639 | €188,444 | €15,354 | ▼ 91.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €382,344 | €525,013 | €591,931 | €863,379 | €939,342 | ▲ 8.8% |
| Fixed assets21/28 | €54,145 | €32,584 | €124,856 | €110,275 | €201,120 | ▲ 82.4% |
| Intangible fixed assets21 | €325 | - | - | - | - | - |
| Tangible fixed assets22/27 | €51,300 | €29,944 | €103,081 | €88,200 | €179,045 | ▲ 103% |
| Plant, machinery and equipment23 | €2,330 | €1,328 | €8,209 | €7,648 | €9,283 | ▲ 21.4% |
| Furniture and vehicles24 | €48,969 | €28,616 | €94,872 | €80,552 | €169,762 | ▲ 111% |
| Financial fixed assets28 | €2,520 | €2,640 | €21,775 | €22,075 | €22,075 | = |
| Other financial fixed assets284/8 | €2,520 | €2,640 | €21,775 | €22,075 | €22,075 | = |
| Amounts receivable and cash guarantees285/8 | €2,520 | €2,640 | €21,775 | €22,075 | €22,075 | = |
| Current assets29/58 | €328,199 | €492,429 | €467,075 | €753,104 | €738,222 | ▼ 2.0% |
| Amounts receivable within one year40/41 | €85,771 | €152,343 | €60,362 | €347,201 | €313,943 | ▼ 9.6% |
| Trade receivables40 | €85,771 | €152,343 | €60,362 | €343,270 | €311,550 | ▼ 9.2% |
| Other amounts receivable41 | - | - | - | €3,931 | €2,393 | ▼ 39.1% |
| Cash at bank and in hand54/58 | €220,231 | €311,017 | €379,960 | €372,151 | €398,680 | ▲ 7.1% |
| Deferred charges and accrued income490/1 | €22,198 | €29,069 | €26,753 | €33,751 | €25,600 | ▼ 24.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €382,344 | €525,013 | €591,931 | €863,379 | €939,342 | ▲ 8.8% |
| Equity10/15 | -€514,554 | -€445,962 | -€362,323 | -€173,880 | -€158,525 | ▲ 8.8% |
| Contributions10/11 | €50,000 | €50,000 | €50,000 | €50,000 | €50,000 | = |
| Profit (loss) carried forward14 | -€564,554 | -€495,962 | -€412,323 | -€223,880 | -€208,525 | ▲ 6.9% |
| Amounts payable17/49 | €896,898 | €970,976 | €954,254 | €1.0m | €1.1m | ▲ 5.8% |
| Amounts payable after more than one year17 | €755,000 | €799,962 | €773,142 | €755,000 | €755,000 | = |
| Financial debts170/4 | €755,000 | €799,962 | €773,142 | €755,000 | €755,000 | = |
| Other loans174 | €755,000 | €799,962 | €773,142 | €755,000 | €755,000 | = |
| Amounts payable within one year42/48 | €141,898 | €171,014 | €181,112 | €279,334 | €342,867 | ▲ 22.7% |
| Trade debts44 | €9,749 | €22,378 | €16,913 | €28,822 | €46,437 | ▲ 61.1% |
| Suppliers440/4 | €9,749 | €22,378 | €16,913 | €28,822 | €46,437 | ▲ 61.1% |
| Taxes, remuneration and social security45 | €132,150 | €122,281 | €139,597 | €234,626 | €296,430 | ▲ 26.3% |
| Taxes450/3 | €25,777 | €29,710 | €30,152 | €107,703 | €142,010 | ▲ 31.9% |
| Remuneration and social security454/9 | €106,372 | €92,571 | €109,445 | €126,923 | €154,420 | ▲ 21.7% |
| Other amounts payable47/48 | - | €26,355 | €24,603 | €15,886 | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €2,924 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €63,995 | €68,592 | €83,639 | €188,444 | €15,354 | ▼ 91.9% |
| + Depreciation and write-downs630 | €51,071 | €21,681 | €20,080 | €16,040 | €20,243 | ▲ 26.2% |
| Operating cash flow (approximation) | €115,066 | €90,273 | €103,719 | €204,484 | €35,597 | ▼ 82.6% |
| Investment in fixed assets (approximation) | - | -€120 | -€112,352 | -€1,459 | -€111,088 | ▼ 7,512% |
| Change in cash | - | €90,787 | €68,942 | -€7,808 | €26,529 | ▲ 440% |
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
25-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 25 days late
14-08
State Gazette act
Reappointment: Figurad Bedrijfsrevisoren (statutory auditor)3 facts ▸
State Gazette act
Reappointment: Figurad Bedrijfsrevisoren (statutory auditor)
3 facts ▸
- General meeting, 30-06-2026
- Auditor reappointment, Figurad Bedrijfsrevisoren (statutory auditor)
- Director in office, Demeyer Tom (director)
2025
27-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Highest result since 2018net €188,444 ▲125%
Operating result €260,214, net result €188,444, both a record.
05-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
28-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
13-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Back to profitnet €63,995
Net result €63,995 after one loss-making year.
15-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
14-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 14 days late
2019
31-12
Financial
Back to profitnet €65,129
Net result €65,129 after one loss-making year.
08-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
30-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
19-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 13 acts read
About the unread acts
Of the 13 Belgian State Gazette acts we know for this company, 1 has been read. The other 12 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
Statutory auditor 1
Figurad Bedrijfsrevisoren
CurrentStatutory auditor · since 14-08-2026
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Location & real-estate footprint
Registered office, Antwerpen · 2 establishment units since 2011
Ground area
3,172 m²
Building footprint
2,975 m²
Volume, LiDAR
75,075 m³
2 parcels, Flanders · tallest building 46.0 m, ±8 floors. Linked by address, not a title deed.
258
companies at this address
See who is registered here
2 establishment units
M.A. SERVICES
since 20112.195.547.290
M.A.SERVICES
since 20232.347.057.332
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11808H1178/00S008 | Flanders | 3,046 m² | 1 · 2,904 m² | 46.0 m · 8 fl. |
| 12393F0330/00L004indicative | Flanders | 126 m² | 1 · 71 m² | 6.6 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Mandate history
1 person since 2026, 1 in office
- Statutory auditor
| Name | Functions and periods |
|---|---|
| Figurad Bedrijfsrevisoren |
|
Structure & network
Owners and holdings
1 ownerChain of control
- Malca - Amit, Antwerp
- M.A. SERVICES
Highest known parent: Malca - Amit, Antwerp. The sources do not say who stands above it.
Owners 1
-
99%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 4 entries · 17,374 EUR awarded · 14,819 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 2,881 EUR | 2,741 EUR |
| 2024 | 1 | 7,500 EUR | 7,793 EUR |
| 2023 | 1 | 4,082 EUR | 2,216 EUR |
| 2022 | 1 | 2,911 EUR | 2,069 EUR |
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Of 700 companies in sector 80010 we hold annual accounts for 349. 87 are within a factor 10 of this headcount. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded19-01-2011
Fiscal year end31-12
Activities, NACEBEL 2025
80010Investigation and private security services
Contact
Website
www.ma-services.be
E-mail
tom@maservicesbvba.be
Phone
03/227.30.91
Fax
03/227.30.92
Phone
0496360673Lier
E-invoicing
Reachable via Peppol
Peppol ID
0208:0833048470
Also
9925:BE0833048470
Registered
16-09-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.