MA GRIFFE
ActiveSummary
MA GRIFFE has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €26k and a net result of €-1k. Equity remains stable across the filed fiscal years (±0.7% per year). Its solvency ranks better than 69% of 18400 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability15▲+15
Solvency82▼-12
Growth32=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1.5k at 30 days acceptable
Liquidity ample (current ratio 2.31 against 3.15 in 2024; short-term debt: 42.7% of total assets), and 42.7% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six 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
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 →
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
57.3%
Return on assets
-2.7%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-1k
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 15-08-2026, 15 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
15 d late
2024
22 d late
2023
3 d late
2022
7 d early
2021
11 d early
2020
3 d late
2019
5 d late
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-1k▲ 89.2%
2024 · €-11k
2018: €-705
2019: €-2k▼ -175% vs 2018
2020: €11k▲ +681% vs 2019highest in 8 years
2021: €2k▼ -85.6% vs 2020
2022: €1k▼ -24.5% vs 2021
2023: €-2k▼ -281% vs 2022
2024: €-11k▼ -415% vs 2023lowest in 8 years
2025: €-1k▲ +89.2% vs 2024
2018 → 2025
Working capital
€25k▼ 3.9%
2024 · €26k
2018: €28k
2019: €25k▼ -13.8% vs 2018lowest in 8 years
2020: €36k▲ +47.8% vs 2019
2021: €38k▲ +5.8% vs 2020
2022: €40k▲ +4.0% vs 2021highest in 8 years
2023: €38k▼ -4.2% vs 2022
2024: €26k▼ -31.5% vs 2023
2025: €25k▼ -3.9% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€39k-€41k▲ 3.1%€38k▼ 5.4%€27k▼ 29.7%€26k▼ 4.5%
2021: €39k
2022: €41k▲ +3.1% vs 2021highest in 5 years
2023: €38k▼ -5.4% vs 2022
2024: €27k▼ -29.7% vs 2023
2025: €26k▼ -4.5% vs 2024lowest in 5 years
Operating result€1k-€1k▼ 22.7%€-3k€-12k▼ 300%€-418▲ 96.4%
2021: €1khighest in 5 years
2022: €1k▼ -22.7% vs 2021
2023: €-3k▼ -356% vs 2022
2024: €-12k▼ -300% vs 2023lowest in 5 years
2025: €-418▲ +96.4% vs 2024
Net result€2k-€1k▼ 24.5%€-2k€-11k▼ 415%€-1k▲ 89.2%
2021: €2khighest in 5 years
2022: €1k▼ -24.5% vs 2021
2023: €-2k▼ -281% vs 2022
2024: €-11k▼ -415% vs 2023lowest in 5 years
2025: €-1k▲ +89.2% vs 2024
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €418 in 2025 against €12k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €45k
Fixed assets
€620 ▼ 25.1%
Current assets
€44k ▲ 15.8%
Equity and liabilities €45k
Equity
€26k ▼ 4.5%
Debt
€19k ▲ 58.2%
Debt's share of the balance-sheet total rises from 31.1% to 42.7%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-210▲
2024 · €-11k
Cash flow
€-1k▲
2024 · €-11k
Current ratio
2.31▼
2024 · 3.15
Quick ratio
1.98▼
2024 · 2.63
Debt to equity
0.75▲
2024 · 0.45
ROE
-4.8%▲
2024 · -42.2%
ROA
-2.7%▲
2024 · -29.1%
Interest coverage
-0.09▲
2024 · -15.28
Debt ≤ 1 year
€19k▲
2024 · €12k
Income taxes
€-24▼
2024 · €638
Staff costs
€804
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 43 lines
Balance sheet
Code20242025
Assets
Total assets20/58€39k€45k▲
Fixed assets21/28€828€620▼
Tangible fixed assets22/27€828€620▼
Furniture and vehicles24€828€620▼
Current assets29/58€38k€44k▲
Stocks and contracts in progress3€6k€6k=
Stocks30/36€6k€6k=
Amounts receivable within one year40/41€31k€38k▲
Trade receivables40€3k€10k▲
Other amounts receivable41€28k€29k▲
Cash at bank and in hand54/58€14-
Deferred charges and accrued income490/1€1k-
Equity and liabilities
Total equity and liabilities10/49€39k€45k▲
Equity10/15€27k€26k▼
Contributions10/11€19k€19k=
Reserves13€2k€2k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Profit (loss) carried forward14€7k€5k▼
Amounts payable17/49€12k€19k▲
Amounts payable within one year42/48€12k€19k▲
Financial debts43€11k€19k▲
Credit institutions430/8€11k€19k▲
Trade debts44€812€18▼
Suppliers440/4€812€18▼
Taxes, remuneration and social security45€207€17▼
Taxes450/3€207€17▼
Income statement
Code20242025
Remuneration, social security and pensions62-€804
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€144€208▲
Other operating charges640/8€285€1k▲
Non-recurring operating charges66A-€3k
Gross operating margin9900€-11k€4k▲
Operating profit (loss)9901€-12k€-418▲
Financial income75/76B€2k€1k▼
Recurring financial income75€2k€1k▼
Financial charges65/66B€749€2k▲
Recurring financial charges65€749€2k▲
Profit (loss) for the period before taxes9903€-11k€-1k▲
Income taxes67/77€638€-24▼
Profit (loss) for the period9904€-11k€-1k▲
Profit (loss) for the period to be appropriated9905€-11k€-1k▲
Appropriation of the result
Profit (loss) to be appropriated9906€7k€5k▼
Profit (loss) brought forward from the previous period14P€18k€7k▼
The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €741 | - | - | - | €804 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €496 | €518 | €540 | €144 | €208 | ▲ 44.6% |
| Other operating charges640/8 | €300 | €293 | €315 | €285 | €1k | ▲ 280% |
| Non-recurring operating charges66A | €357 | €240 | - | - | €3k | - |
| Gross operating margin9900 | €3k | €2k | €-2k | €-11k | €4k | ▲ 138% |
| Operating profit (loss)9901 | €1k | €1k | €-3k | €-12k | €-418 | ▲ 96.4% |
| Financial income75/76B | €2k | €2k | €1k | €2k | €1k | ▼ 6.9% |
| Recurring financial income75 | €2k | €2k | €1k | €2k | €1k | ▼ 6.9% |
| Financial charges65/66B | €559 | €544 | €545 | €749 | €2k | ▲ 208% |
| Recurring financial charges65 | €559 | €544 | €545 | €749 | €2k | ▲ 208% |
| Profit (loss) for the period before taxes9903 | €3k | €2k | €-2k | €-11k | €-1k | ▲ 88.4% |
| Income taxes67/77 | €896 | €1k | €175 | €638 | €-24 | ▼ 104% |
| Profit (loss) for the period9904 | €2k | €1k | €-2k | €-11k | €-1k | ▲ 89.2% |
| Profit (loss) for the period to be appropriated9905 | €2k | €1k | €-2k | €-11k | €-1k | ▲ 89.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €47k | €42k | €40k | €39k | €45k | ▲ 15.0% |
| Fixed assets21/28 | €992 | €694 | €154 | €828 | €620 | ▼ 25.1% |
| Tangible fixed assets22/27 | €992 | €694 | €154 | €828 | €620 | ▼ 25.1% |
| Furniture and vehicles24 | €992 | €694 | €154 | €828 | €620 | ▼ 25.1% |
| Current assets29/58 | €46k | €42k | €39k | €38k | €44k | ▲ 15.8% |
| Stocks and contracts in progress3 | €7k | €6k | €6k | €6k | €6k | = |
| Stocks30/36 | €7k | €6k | €6k | €6k | €6k | = |
| Amounts receivable within one year40/41 | €27k | €28k | €30k | €31k | €38k | ▲ 22.9% |
| Trade receivables40 | €3k | €3k | €3k | €3k | €10k | ▲ 236% |
| Other amounts receivable41 | €24k | €25k | €27k | €28k | €29k | ▲ 1.4% |
| Cash at bank and in hand54/58 | €10k | €7k | €2k | €14 | - | - |
| Deferred charges and accrued income490/1 | €1k | €1k | €2k | €1k | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €47k | €42k | €40k | €39k | €45k | ▲ 15.0% |
| Equity10/15 | €39k | €41k | €38k | €27k | €26k | ▼ 4.5% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €2k | €2k | €2k | €2k | €2k | = |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | €2k | €2k | €2k | €2k | €2k | = |
| Profit (loss) carried forward14 | €19k | €20k | €18k | €7k | €5k | ▼ 18.7% |
| Amounts payable17/49 | €7k | €2k | €1k | €12k | €19k | ▲ 58.2% |
| Amounts payable within one year42/48 | €7k | €2k | €1k | €12k | €19k | ▲ 58.2% |
| Financial debts43 | - | - | - | €11k | €19k | ▲ 72.4% |
| Credit institutions430/8 | - | - | - | €11k | €19k | ▲ 72.4% |
| Trade debts44 | €655 | - | €82 | €812 | €18 | ▼ 97.8% |
| Suppliers440/4 | €655 | - | €82 | €812 | €18 | ▼ 97.8% |
| Advances received on contracts in progress46 | €2k | - | - | - | - | - |
| Taxes, remuneration and social security45 | €4k | €2k | €1k | €207 | €17 | ▼ 91.7% |
| Taxes450/3 | €4k | €2k | €1k | €207 | €17 | ▼ 91.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2k | €1k | €-2k | €-11k | €-1k | ▲ 89.2% |
| + Depreciation and write-downs630 | €496 | €518 | €540 | €144 | €208 | ▲ 44.6% |
| Operating cash flow (approximation) | €2k | €2k | €-2k | €-11k | €-1k | ▲ 90.9% |
| Investment in fixed assets (approximation) | - | €-221 | €0 | €-818 | €0 | ▲ 100% |
| Change in cash | - | €-4k | €-5k | €-1k | - | - |
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
15-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 15 days late
2025
22-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 22 days late
2024
31-12
Financial
Weakest financial yearnet €-11k
Net result drops to €-11k, the lowest in the series; recovery starts the following year.
03-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 3 days late
2023
24-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Liquidity quadruplescurrent ratio 23.95
Current ratio from 6.39 to 23.95; short-term debt falls from €7k to €2k.
20-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
03-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 3 days late
2020
31-12
Financial
Back to profitnet €11k
Net result €11k after 2 loss-making years.
31-12
Financial
Liquidity triplescurrent ratio 11.30
Current ratio from 3.67 to 11.30; short-term debt falls from €9k to €4k.
05-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 5 days late
2019
02-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
29-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 29 days late
2017
24-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 24 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Braine-l'Alleud · 1 establishment unit since 1991
Ground area
1,816 m²
Building footprint
181 m²
Volume, LiDAR
1,170 m³
Parcel 25078A0119/00H000, Wallonia · tallest building 9.5 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
MA GRIFFE
since 19912.051.902.069
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25078A0119/00H000 | Wallonia | 1,816 m² | 1 · 180 m² | 9.5 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 4,241 companies in sector 47789 we hold annual accounts for 1,019. 680 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded13-02-1991
Fiscal year end31-12
Activities, NACEBEL 2025
47789Other retail sale of new goods
Scores and ratios are computed by Checked and are not a credit decision.