MAAFE
ActiveSummary
The computed 12-month bankruptcy probability of MAAFE is 1.7% (moderate). The 2025 annual accounts show equity of €565k and a net result of €-103. Equity is growing by ~6.8% per year across the filed fiscal years. Its solvency ranks better than 93% of 4522 sector peers (fiscal year 2025). The company has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability54▼-15
Solvency100=
Growth48▼-17
Track record100
Bankruptcy probability, 12 months
1.7%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €40k at 30 days acceptable
Liquidity ample (current ratio 8.03 against 7.17 in 2024; short-term debt: 12.1% and cash: 27.7% of total assets), and 12.3% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 81
Relative position
BE, all sectors
reference
Services to buildings and landscape activities (NACE 81)
about 79% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
87.7%
Return on assets
0%
Age of the figures
12 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 26-03-2026, 35 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
35 d early
2024
19 d early
2023
35 d early
2022
6 d early
2021
30 d early
2020
on the day
2019
1 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
€717k▼ 2.5%
2024 · €735k
2018: €638k
2019: €887k▲ +39.0% vs 2018
2020: €1.68M▲ +89.3% vs 2019highest in 8 years
2021: €732k▼ -56.4% vs 2020
2022: €630k▼ -14.0% vs 2021lowest in 8 years
2023: €699k▲ +11.0% vs 2022
2024: €735k▲ +5.2% vs 2023
2025: €717k▼ -2.5% vs 2024
2018 → 2025
EBIT margin
-0.1%▼ 7.3pp
2024 · 7.2%
2018: 2.9%
2019: 10.1%▲ +250% vs 2018
2020: 37.3%▲ +268% vs 2019highest in 8 years
2021: 3.5%▼ -90.7% vs 2020
2022: -1.8%▼ -152% vs 2021lowest in 8 years
2023: 2.4%▲ +235% vs 2022
2024: 7.2%▲ +200% vs 2023
2025: -0.1%▼ -101% vs 2024
2018 → 2025
Net result
€-103
2024 · €43k
2018: €9k
2019: €60k▲ +582% vs 2018
2020: €453k▲ +659% vs 2019highest in 8 years
2021: €-30k▼ -107% vs 2020lowest in 8 years
2022: €-9k▲ +71.4% vs 2021
2023: €13k▲ +248% vs 2022
2024: €43k▲ +236% vs 2023
2025: €-103▼ -100% vs 2024
2018 → 2025
Working capital
€546k▲ 0.2%
2024 · €545k
2018: €168klowest in 8 years
2019: €212k▲ +26.4% vs 2018
2020: €487k▲ +129% vs 2019
2021: €470k▼ -3.4% vs 2020
2022: €479k▲ +1.9% vs 2021
2023: €494k▲ +3.0% vs 2022
2024: €545k▲ +10.4% vs 2023
2025: €546k▲ +0.2% vs 2024highest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€732k-€630k▼ 14.0%€699k▲ 11.0%€735k▲ 5.2%€717k▼ 2.5%
2021: €732k
2022: €630k▼ -14.0% vs 2021lowest in 5 years
2023: €699k▲ +11.0% vs 2022
2024: €735k▲ +5.2% vs 2023highest in 5 years
2025: €717k▼ -2.5% vs 2024
Equity€518k-€509k▼ 1.7%€522k▲ 2.5%€565k▲ 8.2%€565k=
2021: €518k
2022: €509k▼ -1.7% vs 2021lowest in 5 years
2023: €522k▲ +2.5% vs 2022
2024: €565k▲ +8.2% vs 2023highest in 5 years
2025: €565k● -0.0% vs 2024
Operating result€25k-€-11k€17k€53k▲ 216%€-378
2021: €25k
2022: €-11k▼ -145% vs 2021lowest in 5 years
2023: €17k▲ +249% vs 2022
2024: €53k▲ +216% vs 2023highest in 5 years
2025: €-378▼ -101% vs 2024
Net result€-30k-€-9k▲ 71.4%€13k€43k▲ 236%€-103
2021: €-30klowest in 5 years
2022: €-9k▲ +71.4% vs 2021
2023: €13k▲ +248% vs 2022
2024: €43k▲ +236% vs 2023highest in 5 years
2025: €-103▼ -100% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €378 after €53k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €644k
Fixed assets
€21k ▼ 4.6%
Current assets
€624k ▼ 1.5%
Equity and liabilities €644k
Equity
€565k =
Debt
€79k ▼ 11.8%
Debt's share of the balance-sheet total falls from 13.7% to 12.3%. Debt is lower.
Key figures and ratios
EBITDA
€9k▼
2024 · €62k
Cash flow
€9k▼
2024 · €52k
Current ratio
8.03▲
2024 · 7.17
Quick ratio
6.50▲
2024 · 5.29
Debt to equity
0.14▼
2024 · 0.16
ROE
0.0%▼
2024 · 7.6%
ROA
0.0%▼
2024 · 6.6%
Interest coverage
813.36▲
2024 · 434.71
Debt ≤ 1 year
€78k▼
2024 · €88k
Income taxes
€1k▼
2024 · €13k
Staff costs
€128k▲
2024 · €96k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €732k | €630k | €699k | €735k | €717k | ▼ 2.5% |
| Non-recurring operating income76A | - | - | - | - | €2k | - |
| Goods, raw materials, services and sundry goods60/61 | - | €525k | €554k | €572k | €581k | ▲ 1.6% |
| Remuneration, social security and pensions62 | - | €93k | €112k | €96k | €128k | ▲ 33.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €24k | €23k | €15k | €8k | €9k | ▲ 7.2% |
| Other operating charges640/8 | - | €348 | €952 | €574 | €387 | ▼ 32.6% |
| Non-recurring operating charges66A | - | €340 | - | €6k | €1k | ▼ 79.8% |
| Gross operating margin9900 | €177k | €105k | €145k | €164k | €138k | ▼ 15.6% |
| Operating profit (loss)9901 | €25k | €-11k | €17k | €53k | €-378 | ▼ 101% |
| Financial income75/76B | - | €4k | €3k | €3k | €1k | ▼ 52.8% |
| Recurring financial income75 | €3k | €4k | €3k | €3k | €1k | ▼ 52.8% |
| Non-recurring financial income76B | - | €4k | - | - | - | - |
| Financial charges65/66B | - | €492 | €339 | €142 | €11 | ▼ 92.5% |
| Recurring financial charges65 | €590 | €492 | €339 | €142 | €11 | ▼ 92.5% |
| Non-recurring financial charges66B | - | €492 | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €27k | €-8k | €19k | €56k | €1k | ▼ 98.2% |
| Income taxes67/77 | €58k | €567 | €6k | €13k | €1k | ▼ 91.2% |
| Profit (loss) for the period9904 | €-30k | €-9k | €13k | €43k | €-103 | ▼ 100% |
| Profit (loss) for the period to be appropriated9905 | €-30k | €-9k | €13k | €43k | €-103 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €585k | €570k | €586k | €655k | €644k | ▼ 1.6% |
| Fixed assets21/28 | €49k | €32k | €30k | €22k | €21k | ▼ 4.6% |
| Tangible fixed assets22/27 | €49k | €32k | €17k | €8k | €7k | ▼ 12.2% |
| Land and buildings22 | - | €2k | €2k | €1k | €675 | ▼ 40.0% |
| Plant, machinery and equipment23 | - | €5k | €1k | €0 | - | - |
| Furniture and vehicles24 | - | €25k | €14k | €7k | €6k | ▼ 7.7% |
| Financial fixed assets28 | - | - | €14k | €14k | €14k | = |
| Current assets29/58 | €535k | €539k | €556k | €634k | €624k | ▼ 1.5% |
| Stocks and contracts in progress3 | €138k | €141k | €134k | €166k | €119k | ▼ 28.2% |
| Stocks30/36 | - | €141k | €134k | €166k | €119k | ▼ 28.2% |
| Amounts receivable within one year40/41 | €308k | €349k | €233k | €341k | €308k | ▼ 9.5% |
| Trade receivables40 | - | €339k | €233k | €295k | €253k | ▼ 14.2% |
| Other amounts receivable41 | - | €10k | €250 | €45k | €55k | ▲ 21.0% |
| Cash at bank and in hand54/58 | €73k | €40k | €182k | €120k | €178k | ▲ 48.6% |
| Deferred charges and accrued income490/1 | - | €8k | €6k | €7k | €18k | ▲ 160% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €585k | €570k | €586k | €655k | €644k | ▼ 1.6% |
| Equity10/15 | €518k | €509k | €522k | €565k | €565k | = |
| Contributions10/11 | €20k | €20k | €20k | €20k | €20k | = |
| Capital10 | - | €20k | - | - | - | - |
| Issued capital100 | - | €20k | - | - | - | - |
| Outside capital11 | - | - | €20k | - | - | - |
| Share premium1100/10 | - | - | €20k | - | - | - |
| Reserves13 | €520k | €520k | €520k | €520k | €520k | = |
| Non-distributable reserves130/1 | - | €355 | - | €520k | €520k | = |
| Legal reserve130 | - | €355 | - | - | - | - |
| Other1319 | - | - | - | €520k | €520k | = |
| Distributable reserves133 | - | €520k | €520k | - | - | - |
| Profit (loss) carried forward14 | €-22k | €-31k | €-18k | €25k | €25k | ▼ 0.4% |
| Amounts payable17/49 | €67k | €61k | €63k | €90k | €79k | ▼ 11.8% |
| Amounts payable within one year42/48 | €65k | €59k | €62k | €88k | €78k | ▼ 12.0% |
| Trade debts44 | €10k | €7k | €6k | €21k | €21k | ▲ 1.6% |
| Suppliers440/4 | - | €7k | €6k | €21k | €21k | ▲ 1.6% |
| Taxes, remuneration and social security45 | - | €52k | €56k | €67k | €54k | ▼ 19.3% |
| Taxes450/3 | - | €44k | €35k | €49k | €31k | ▼ 36.6% |
| Remuneration and social security454/9 | - | €8k | €20k | €18k | €23k | ▲ 29.1% |
| Other amounts payable47/48 | - | €1k | €666 | €594 | €3k | ▲ 321% |
| Accrued charges and deferred income492/3 | - | €2k | €2k | €2k | €2k | = |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-30k | €-9k | €13k | €43k | €-103 | ▼ 100% |
| + Depreciation and write-downs630 | €24k | €23k | €15k | €8k | €9k | ▲ 7.2% |
| Operating cash flow (approximation) | €-6k | €14k | €28k | €52k | €9k | ▼ 82.7% |
| Investment in fixed assets (approximation) | - | €-5k | €-14k | €0 | €-8k | - |
| Change in cash | - | €-33k | €142k | €-62k | €58k | ▲ 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
Next filing, fiscal year 2026, expected by
2026
26-03
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
11-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
26-03
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-09
Financial
Back to profitnet €13k
Net result €13k after 2 loss-making years.
24-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-09
Financial
Weakest financial yearnet €-30k
Net result drops to €-30k, the lowest in the series; recovery starts the following year.
30-09
Financial
Liquidity triplescurrent ratio 8.25
Current ratio from 2.65 to 8.25; short-term debt falls from €295k to €65k.
30-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-09
Financial
Highest result since 2018net €453k ▲659%
Operating result €626k, net result €453k, both a record.
30-09
Financial
Equity above €500kEq €548k ▲474%
3 profitable years in a row build equity to €548k.
29-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Show earlier events
2019
08-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
30-03
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
25-04
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Schaarbeek · 1 establishment unit since 2015
Ground area
2,165 m²
Building footprint
142 m²
Volume, LiDAR
174 m³
Parcel 21015A0073/00W004, Brussels · tallest building 7.9 m. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
Maafe
since 20152.243.043.737
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21015A0073/00W004 | Brussels | 2,165 m² | 1 · 142 m² | 7.9 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.
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Of 7,361 companies in sector 81210 we hold annual accounts for 2,731. 1,258 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
Founded08-06-2015
Fiscal year end30-09
Activities, NACEBEL 2025
81210General cleaning of buildings
81220Other building cleaning and industrial cleaning
Scores and ratios are computed by Checked and are not a credit decision.