MA2X
ActiveSummary
The computed 12-month bankruptcy probability of MA2X is 1.6% (moderate). The 2024 annual accounts show negative equity (€-26k) and a net result of €-6k. Equity is shrinking by ~71.2% per year across the filed fiscal years. The company has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability32▲+23
Solvency12▼-4
Growth32=
Track record100
Bankruptcy probability, 12 months
1.6%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.0 against 0.02 in 2023; short-term debt: 58.2% and cash: 0.2% of total assets), and equity is negative.
Credit check for your own amount and term
Signals
Five 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 2024Solvency, return and age of the figures
Solvency
-12.8%
Return on assets
-3.1%
Age of the figures
21 mo
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 2024 annual accounts show negative equity and a net loss.
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year €-26k
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-08-2025, 29 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
not confirmed
2024
29 d late
2023
49 d late
2022
31 d late
2021
130 d late
2020
122 d late
2019
92 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€-26k▼ 31.4%
2023 · €-19k
Total assets
€200k▼ 6.9%
2023 · €215k
Net result
€-6k▲ 69.5%
2023 · €-20k
Working capital
€-116k▼ 8.6%
2023 · €-107k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€7k€4k▼ 48.1%€8k▲ 112%€-12k€1k
Net result€-3k▲ 75.2%€-6k▼ 93.3%€-1k▲ 82.0%€-20k▼ 1,792%€-6k▲ 69.5%
Equity€7k▼ 28.8%€2k▼ 78.3%€567▼ 65.1%€-19k€-26k▼ 31.4%
Total assets€285k▼ 3.3%€257k▼ 9.8%€243k▼ 5.5%€215k▼ 11.6%€200k▼ 6.9%
Debt€278k▼ 2.4%€256k▼ 7.9%€243k▼ 5.1%€234k▼ 3.4%€226k▼ 3.7%
Working capital€-71k▼ 13.3%€-87k▼ 22.6%€-90k▼ 3.2%€-107k▼ 18.6%€-116k▼ 8.6%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2024: €1k after a loss of €12k in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €200k
Fixed assets
€200k ▼ 6.3%
Current assets
€469 ▼ 72.4%
Key figures and ratios
EBITDA
€15k▲
2023 · €1k
Cash flow
€7k▲
2023 · €-7k
Solvency
-12.8%▼
2023 · -9.0%
Current ratio
0.00▼
2023 · 0.02
Debt to equity
-8.84▲
2023 · -12.06
ROA
-3.1%▲
2023 · -9.3%
Interest coverage
2.01▲
2023 · 0.19
Debt ≤ 1 year
€117k▲
2023 · €109k
Debt > 1 year
€105k▼
2023 · €120k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €12k | €12k | €14k | €14k | €14k | = |
| Other operating charges640/8 | - | €2k | - | €18k | €2k | ▼ 89.8% |
| Gross operating margin9900 | €20k | €17k | €21k | €20k | €17k | ▼ 15.2% |
| Operating profit (loss)9901 | €7k | €4k | €8k | €-12k | €1k | ▲ 110% |
| Recurring financial income75 | €1 | - | - | - | - | - |
| Financial charges65/66B | - | €9k | €9k | €8k | €7k | ▼ 8.7% |
| Recurring financial charges65 | €10k | €9k | €9k | €8k | €7k | ▼ 8.7% |
| Profit (loss) for the period before taxes9903 | €-3k | €-6k | €-1k | €-20k | €-6k | ▲ 69.5% |
| Income taxes67/77 | - | €136 | - | - | - | - |
| Profit (loss) for the period9904 | €-3k | €-6k | €-1k | €-20k | €-6k | ▲ 69.5% |
| Profit (loss) for the period to be appropriated9905 | €-3k | €-6k | €-1k | €-20k | €-6k | ▲ 69.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €285k | €257k | €243k | €215k | €200k | ▼ 6.9% |
| Fixed assets21/28 | €239k | €240k | €227k | €213k | €200k | ▼ 6.3% |
| Tangible fixed assets22/27 | €239k | €240k | €227k | €213k | €200k | ▼ 6.3% |
| Land and buildings22 | - | €222k | €211k | €199k | €187k | ▼ 5.8% |
| Plant, machinery and equipment23 | - | €17k | €16k | €14k | €12k | ▼ 13.3% |
| Current assets29/58 | €46k | €18k | €16k | €2k | €469 | ▼ 72.4% |
| Amounts receivable within one year40/41 | €31k | €4k | - | - | - | - |
| Trade receivables40 | - | €4k | - | - | - | - |
| Current investments50/53 | €2k | €8 | €8 | €8 | €8 | = |
| Cash at bank and in hand54/58 | €332 | €676 | €384 | €2k | €461 | ▼ 72.7% |
| Deferred charges and accrued income490/1 | - | €13k | €16k | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €285k | €257k | €243k | €215k | €200k | ▼ 6.9% |
| Equity10/15 | €7k | €2k | €567 | €-19k | €-26k | ▼ 31.4% |
| Contributions10/11 | €25k | €25k | €25k | €25k | €25k | = |
| Capital10 | - | €25k | €25k | - | - | - |
| Issued capital100 | - | €25k | €25k | - | - | - |
| Profit (loss) carried forward14 | €-18k | €-23k | €-24k | €-44k | €-51k | ▼ 13.7% |
| Amounts payable17/49 | €278k | €256k | €243k | €234k | €226k | ▼ 3.7% |
| Amounts payable after more than one year17 | €158k | €146k | €133k | €120k | €105k | ▼ 12.0% |
| Financial debts170/4 | - | €146k | €133k | €120k | €105k | ▼ 12.0% |
| Amounts payable within one year42/48 | €117k | €105k | €107k | €109k | €117k | ▲ 7.3% |
| Current portion of amounts payable after more than one year42 | - | €13k | €14k | €15k | €16k | ▲ 5.6% |
| Trade debts44 | - | €13k | €10k | €11k | €11k | ▲ 4.5% |
| Suppliers440/4 | - | €13k | €10k | €11k | €11k | ▲ 4.5% |
| Other amounts payable47/48 | - | €79k | €82k | €83k | €90k | ▲ 8.0% |
| Accrued charges and deferred income492/3 | - | €4k | €3k | €6k | €4k | ▼ 35.7% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-3k | €-6k | €-1k | €-20k | €-6k | ▲ 69.5% |
| + Depreciation and write-downs630 | €12k | €12k | €14k | €14k | €14k | = |
| Operating cash flow (approximation) | €9k | €6k | €12k | €-7k | €7k | ▲ 214% |
| Investment in fixed assets (approximation) | - | €-13k | €-750 | €0 | €0 | - |
| Change in cash | - | €344 | €-292 | €1k | €-1k | ▼ 194% |
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
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
18-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 49 days late
2023
31-12
Financial
Weakest financial yearnet €-20k
Net result drops to €-20k, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
08-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 130 days late
2021
30-11
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 122 days late
2020
31-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 92 days late
2019
31-12
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 153 days late
2018
29-09
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 60 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 31 days late
2016
31-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Zaventem · 1 establishment unit since 2006
Ground area
1,148 m²
Building footprint
2,163 m²
Volume, LiDAR
3,146 m³
Parcel 23057C0039/00N000, Flanders · tallest building 11.7 m. Linked by address, not a title deed.
9
companies at this address
See who is registered here
1 establishment unit
MA2X
since 20062.157.042.745
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23057C0039/00N000 | Flanders | 1,148 m² | 1 · 2,162 m² | 11.7 m |
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.
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded01-08-2006
Fiscal year end31-12
Scores and ratios are computed by Checked and are not a credit decision.