MA SPORTHORSES
The computed 12-month bankruptcy probability of MA SPORTHORSES is 0.2% (very low). The 2025 annual accounts show negative equity (€-427k) and a net result of €122k. Equity is shrinking by ~52% per year across the filed fiscal years. Its solvency ranks better than 5% of 221 sector peers (fiscal year 2025). The company has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals.
| Equity | €-427k |
| Net result | €122k |
| Better than sector | 5% |
| Active | 8 yrs |
Fragile profile, watch profitability in particular.
All 5 axes are computed from data Checked has read.
Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?
The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.
See plans →How 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 | -265.1% | 23.3% | |
| Net result | €122k | €9k | |
| Equity | €-427k | €66k | |
| Gross operating margin | €165k | €47k | |
| Total assets | €161k | €279k |
Show 11 other metrics
| Fiscal year | 2025 |
|---|---|
| Deposit | micro |
| Revenue | - |
| EBITDA | €149k |
| Net profit | €122k |
| Cash flow | €136k |
| Staff costs | - |
| Income taxes | - |
| Dividends | - |
| Total assets | €161k |
| Equity | €-427k |
| Debt | €588k |
| of which ≤ 1y | €163k |
| of which > 1y | €425k |
| Working capital | €-22k |
| Employees (FTE) | - |
| 2025 | |
|---|---|
| Current ratio | 0.87 |
| Quick ratio | 0.28 |
| Working capital ratio | -13.6% |
| Solvency | -265.1% |
| Debt / equity | -1.38 |
| Long-term debt ratio | -0.99 |
| Interest coverage | 11.49 |
| Gross margin | - |
| Net margin | - |
| ROA | 75.8% |
| ROE | -28.6% |
| EBITDA margin | - |
| Days sales outstanding | - |
| Days payable outstanding | - |
| Inventory turnover | - |
| Days inventory (DSI) | - |
Full annual accounts (21 line items)
| Line item | Code | 2025 |
|---|---|---|
| Balance sheet, Assets | ||
| TOTAL ASSETS | 20/58 | €161k |
| Fixed assets | 21/28 | €20k |
| Tangible fixed assets | 22/27 | €20k |
| Current assets | 29/58 | €141k |
| Stocks & contracts in progress | 3 | €95k |
| Amounts receivable within one year | 40/41 | €39k |
| Cash & bank | 54/58 | €7k |
| Balance sheet, Equity & liabilities | ||
| TOTAL EQUITY & LIABILITIES | 10/49 | €161k |
| Equity | 10/15 | €-427k |
| Contributions / capital | 10/11 | €400k |
| Accumulated profits (losses) | 14 | €-827k |
| Amounts payable | 17/49 | €588k |
| Amounts payable after one year | 17 | €425k |
| Amounts payable within one year | 42/48 | €163k |
| Trade debts payable within one year | 44 | €36k |
| Income statement | ||
| Gross operating margin | 9900 | €165k |
| Operating result | 9901 | €135k |
| Financial charges | 65 | €13k |
| Result before taxes | 9903 | €122k |
| Net result for the period | 9904 | €122k |
| Result to be appropriated | 9905 | €122k |
Former directors (1)
-
Former01-02-2018 → 01-11-2025
2 events
- 01-11-2025 Resigned· Director
- 01-02-2018 Appointed· Manager
| NACE primary | Fokken en houden van paarden en andere paardachtigen(01430) |
| Legal form | Private limited company (pre-2019)(015) |
| Incorporation | 05-12-2017 |
| Status | Active |
| Postal code | 1700 |
Parcels 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. |
|---|---|---|---|---|
| 23072F0227/00G000 | Flanders | 1.7 ha | 1 · 2,293 m² | 13.2 m · 2 fl. |
| 23016E0047/00V000 | Flanders | 4,431 m² | 1 · 261 m² | 13.7 m · 3 fl. |
A single timeline of everything that happened to this company, publications, insolvency and lifecycle events, administrative changes and filed annual accounts.
Of the 4 Belgian State Gazette acts we know for this company, 1 has been read. The other 3 have not been read yet: what they contain is neither established nor disproved here.
04-08-2026 Judicial annulment
- Publication: 04/08/2026 · MA Sporthorses
- Filing: 28/07/2026 · MA Sporthorses
- Judicial annulment: court: Nederlandstalige Ondernemingsrechtbank Brussel, annulled: gerechtelijke ontbinding, roll_number: G/2026/01174 X/25/00743 · MA Sporthorses
Technical details
{
"facts": [
{
"date": "2026-08-04",
"type": "publication",
"quote": "Staatsblad-04/08/2026",
"value": "04/08/2026",
"object": null,
"subject": "e1"
},
{
"date": "2026-07-28",
"type": "filing",
"quote": "neergelegd/ontvangen op 28 JULI 2026",
"value": "28/07/2026",
"object": null,
"subject": "e1"
},
{
"type": "judicial_annulment",
"quote": "Volgens het vonnis uitgesproken door de Nederlandstalige Ondermemingsrechtbank Brussel met rolnummer G/2026/01174 X/25/00743 werd beslist dat het verzet tegen de ontbinding van de vennootschap ontvankelijk is en gegrond. De rechtbank doet het verstekvonnis teniet en trekt de gerechtelijke ontbinding van de vennootschap in.",
"value": {
"date": null,
"court": "Nederlandstalige Ondernemingsrechtbank Brussel",
"annulled": "gerechtelijke ontbinding",
"roll_number": "G/2026/01174 X/25/00743"
},
"object": null,
"subject": "e1"
}
],
"act_meta": {
"outcome": "clean",
"model_id": 50,
"verified": true,
"extractor": "verified-v1",
"ocr_chars": 1239,
"truncated": false
},
"entities": [
{
"id": "e1",
"kbo": "0685.651.923",
"kind": "company",
"name": "MA Sporthorses",
"attrs": {
"seat": "d\u0027Arconatistraat 77 bus 101 - 1700 Dilbeek",
"legal_form": "Besloten vennootschap"
}
},
{
"id": "e2",
"kbo": null,
"kind": "person",
"name": "Verhasselt Marie",
"attrs": {}
}
]
}10-11-2025 Registered office moved from Lennik to Dilbeek
- Grote Vijverselenweg 12, 1750 Lennik → d'Arconatistraat 77, 1700 Dilbeek
Technical details
{
"events": [
{
"kind": "zetel_transfer",
"seat_type": "statutaire",
"new_address": {
"city": "Dilbeek",
"region": null,
"street": "d\u0027Arconatistraat",
"country": "BE",
"postcode": "1700",
"box_number": "101",
"street_number": "77"
},
"old_address": {
"city": "Lennik",
"region": null,
"street": "Grote Vijverselenweg",
"country": "BE",
"postcode": "1750",
"box_number": null,
"street_number": "12"
},
"effective_date": "2025-11-01",
"evidence_quote": "De zetel wordt verplaatst van Grote Vijverselenweg 12, 1750 Lennik naar d\u0027Arconatistraat 77 bus 101. 1700 Dilbeek. Deze wijziging gaat in vanaf 1 november 2025."
}
],
"schema": "v3.2",
"act_meta": {
"model_id": 36,
"extractor": "constrained-core-35b"
},
"subject_company": {
"kbo": "0685.651.923",
"name_full": "MA SPORTHORSES",
"legal_form": "BVBA"
}
}12-03-2018 Montanchez Garcia Antonio appointed as manager
- Montanchez Garcia Antonio, Zaakvoerder
Technical details
{
"events": [
{
"kind": "director_in",
"role": "zaakvoerder",
"person": {
"rrn": null,
"name": "Montanchez Garcia Antonio",
"address": null,
"birth_date": null
},
"effective_date": "2018-02-01",
"evidence_quote": "De algemene vergadering beslist te benoemen als niet-statutair zaakvoerder: De heer Montanchez Garcia geboren te Valencia (Spanje) op 8 juli 1989, van Spaanse nationaliteit, wonende te Spanje, Crer Rei Pere El Cerimonios 25 te 46745 L\u0027Eliana, alhier aanwezig, voor een onbepaalde duur vanaf heden, di"
}
],
"schema": "v3.2",
"act_meta": {
"model_id": 36,
"extractor": "constrained-core-35b"
},
"subject_company": {
"kbo": "0685.651.923",
"name_full": "MA SPORTHORSES",
"legal_form": "BVBA"
}
}07-12-2017 Incorporation of a new BV
Technical details
{
"kind": "oprichting",
"seat": "Grote Vijverselenweg 12, 1750 Lennik",
"schema": "v3.2",
"act_meta": {
"model_id": 36,
"extractor": "constrained-core-35b"
},
"founders": [
{
"org": null,
"kind": "natural_person",
"person": {
"dob": "1990-03-12",
"name": "VERHASSELT Marie Jessica",
"niss": null,
"address": "Avenue Petite Jonction 9, 1420 Braine-l\u0027Alleud"
},
"share_class": "Ordinary",
"partner_role": null,
"holder_org_kbo": null,
"holder_org_name": null,
"contribution_type": "cash",
"amount_paid_in_eur": 390000,
"holder_person_name": "VERHASSELT Marie Jessica",
"is_subscriber_only": false,
"n_shares_subscribed": 390,
"amount_subscribed_eur": 390000,
"is_anonymous_silent_partner": false
},
{
"org": null,
"kind": "natural_person",
"person": {
"dob": "1942-11-16",
"name": "VERHASSELT Luc Frans Maarten",
"niss": null,
"address": "Fr. Robbrechtsstraat 33/0, 1780 Wemmel"
},
"share_class": "Ordinary",
"partner_role": null,
"holder_org_kbo": null,
"holder_org_name": null,
"contribution_type": "cash",
"amount_paid_in_eur": 10000,
"holder_person_name": "VERHASSELT Luc Frans Maarten",
"is_subscriber_only": false,
"n_shares_subscribed": 10,
"amount_subscribed_eur": 10000,
"is_anonymous_silent_partner": false
}
],
"capital_eur": 400000,
"subject_company": {
"kbo": "0685.651.923",
"name_full": "MA SPORTHORSES",
"legal_form": "BV"
},
"initial_directors": [],
"incorporation_date": "2017-12-05",
"post_incorporation_mandates": []
}| Legal nameNL | MA SPORTHORSES |