Summary
Conclusion
the dossier summarised in one paragraphMA CONCEPT is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show negative equity (€-105k) and a net result of €14k. Equity is shrinking by ~7.1% per year across the filed fiscal years. Its solvency ranks better than 5% of 226 sector peers (fiscal year 2025). The company has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals.
Based on the State Gazette, CBE and 7 annual accounts.
Bankruptcy probability (12 mo)
Checked model v1 · free for everyoneThis is a financial institution (bank, insurer or financial holding). Our bankruptcy model is trained on ordinary trading and manufacturing companies; a bank balance sheet falls outside that scope. We therefore show no bankruptcy probability rather than a misleading figure.
Signals
1 signal · with evidenceSignals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.
Filing behaviour
From the deposit records, complete market-wide| Year closed | Due by | Filed | Variance | Reference |
|---|---|---|---|---|
| 30-06-2025 | 31-01-2026 | 15-01-2026 | 16 d early | 2026-00008998 |
| 30-06-2024 | 31-01-2025 | 22-01-2025 | 9 d early | 2025-00010982 |
| 30-06-2023 | 31-01-2024 | 02-02-2024 | 2 d late | 2024-00026980 |
| 30-06-2022 | 31-01-2023 | 01-02-2023 | 1 d late | 2023-00024580 |
| 30-06-2021 | 31-01-2022 | 31-01-2022 | on the day | 2022-03800252 |
| 30-06-2020 | 31-01-2021 | 01-02-2021 | 1 d late | 2021-04600394 |
| 30-06-2019 | 31-01-2020 | 28-02-2020 | 28 d late | 2020-06000091 |
| 30-06-2018 | 31-01-2019 | 28-01-2019 | 3 d early | 2019-03200513 |
| 30-06-2017 | 31-01-2018 | 01-02-2018 | 1 d late | 2018-04500340 |
| 30-06-2016 | 31-01-2017 | 20-02-2017 | 20 d late | 2017-05100395 |
Source: the National Bank's deposit records, as we have ingested them. NOTE: our copy has a gap across June to August 2026, missing roughly 220,000 deposits; for July we hold 15,605 of about 137,000 expected. A year whose deadline falls in that window shows as not confirmed, not as not filed. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.
Trust signals
2 signalsAdministrative Flags
Timeline
What happened to this company, by date
State Gazette, CBE and NBB in one seriesA single timeline of everything that happened to this company, publications, insolvency and lifecycle events, administrative changes and filed annual accounts.
15-01-2026 NBB filing Annual accounts filed
22-01-2025 NBB filing Annual accounts filed
02-02-2024 NBB filing Annual accounts filed
01-02-2023 NBB filing Annual accounts filed
31-01-2022 NBB filing Annual accounts filed
01-02-2021 NBB filing Annual accounts filed
28-02-2020 NBB filing Annual accounts filed
28-01-2019 NBB filing Annual accounts filed
01-02-2018 NBB filing Annual accounts filed
20-02-2017 NBB filing Annual accounts filed
Financials
Annual accounts & ratios
Source: NBB · 2025How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | -371.2% | 47.2% | |
| Net result | €14k | €43k | |
| Equity | €-105k | €84k | |
| Gross operating margin | €18k | €88k | |
| Total assets | €28k | €205k |
Show 2 other metrics
| Fiscal year | 2025 |
|---|---|
| Deposit | micro schema |
| Revenue | n/a |
| EBITDA | n/a |
| Net profit | €14k |
| Cash flow | n/a |
| Staff costs | - |
| Income taxes | €181 |
| Dividends | - |
| Total assets | €28k |
| Equity | €-105k |
| Debt | €134k |
| of which ≤ 1y | €4k |
| of which > 1y | €129k |
| Working capital | n/a |
| Employees (FTE) | - |
| 2025 | |
|---|---|
| Current ratio | n/a |
| Quick ratio | n/a |
| Working capital ratio | n/a |
| Solvency | -371.2% |
| Debt / equity | n/a |
| Long-term debt ratio | n/a |
| Interest coverage | n/a |
| Gross margin | n/a |
| Net margin | n/a |
| ROA | 47.9% |
| ROE | -12.9% |
| EBITDA margin | n/a |
| Days sales outstanding | n/a |
| Days payable outstanding | n/a |
| Inventory turnover | n/a |
| Days inventory (DSI) | n/a |
Full annual accounts (23 line items)
| Line item | Code | 2025 |
|---|---|---|
| Balance sheet, Assets | ||
| TOTAL ASSETS | 20/58 | €28k |
| Fixed assets | 21/28 | €12k |
| Intangible fixed assets | 21 | €8k |
| Tangible fixed assets | 22/27 | €3k |
| Current assets | 29/58 | €17k |
| Amounts receivable within one year | 40/41 | €7k |
| Cash & bank | 54/58 | €9k |
| Balance sheet, Equity & liabilities | ||
| TOTAL EQUITY & LIABILITIES | 10/49 | €28k |
| Equity | 10/15 | €-105k |
| Contributions / capital | 10/11 | €45k |
| Accumulated profits (losses) | 14 | €-150k |
| Amounts payable | 17/49 | €134k |
| Amounts payable after one year | 17 | €129k |
| Amounts payable within one year | 42/48 | €4k |
| Trade debts payable within one year | 44 | €2k |
| Income statement | ||
| Gross operating margin | 9900 | €18k |
| Operating result | 9901 | €14k |
| Financial income | 75 | €40 |
| Financial charges | 65 | €199 |
| Result before taxes | 9903 | €14k |
| Income taxes | 67/77 | €181 |
| Net result for the period | 9904 | €14k |
| Result to be appropriated | 9905 | €14k |
Health barometer
FY 2025 · computedStructure & network
Locations & real estate
Registered office
on the map · from the address registerEstablishment units
1 locationReal-estate footprint
Source: CBE × cadastre · address linkingParcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21807G0135/00T003 | Brussels | 1,574 m² | 1 · 1,579 m² | 46.6 m · 13 fl. |
| 21016B0198/00Y002 | Brussels | 92 m² | 1 · 62 m² | 13.3 m · 4 fl. |
Publications
Lifecycle & Insolvency Signals
Belgian State Gazette · acts
0 of 6 acts readWe know of 6 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
The insolvency signals above come from a separate source; the KBO register is the second source and appears as the legal situation on this page.
Analysis
Financial profile
4 of 5 axes measuredMixed profile: strong on stability, weaker on profitability.
Computed on 4 of 5 axes. Not measured: health. An unmeasured axis is not a zero: no data was read for it.
Credit advice
verdict per customer and amountSimilar
Similar companies
Comparable size, same sectorCompany registry
Company registry (CBE)
Crossroads Bank| Legal nameFR | MA CONCEPT |