MABELLA

Active

Private limited company (pre-2019)founded 200421 yrs activeWaverse Steenweg 13A, 1050 Elsene, BelgiumKBO/BCE: BE 0869.520.173

The computed 12-month bankruptcy probability of MABELLA is 1.7% (moderate). The annual accounts of MABELLA for fiscal year 2024 show a net loss of 67% of the equity at the start of that year. The 2024 annual accounts show equity of €6k and a net result of €-12k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 30% of 26043 sector peers (fiscal year 2024). The company has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals.

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Checked score

Score 2024

27 / 100

Weak

The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability2▲+2

Solvency35▼-12

Growth45▲+10

Track record100

Bankruptcy probability, 12 months

1.7% Moderate

0%0.5%1.5%4%10%≥ 25%

No publishable credit limit; credit only on tighter terms

Net loss of at least half of total assets or of the equity at the start of the financial year.

Liquidity short (current ratio 0.98 against 1.1 in 2023; short-term debt: 90.1% and cash: 9.5% of total assets), and 90.1% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Seven signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Higher-failure-rate region

In this region companies fail more often than in the rest of the country.

KBO · registered office

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 2024

Solvency, return and age of the figures

Solvency

9.9%

Return on assets

-19.7%

Age of the figures

21 mo

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

Sector 47

higher

← fewer bankruptcies more bankruptcies →

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

Persistent losses

Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.

NBB · annual accounts 2024

Net result per financial year

18192021222324

2018 to 2024 · latest year €-12k

Filed more than 90 days late

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-11-2025, 122 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.

NBB · 10 filings

Deviation from the deadline

2025

not confirmed

2024

122 d late

2023

154 d late

2022

25 d early

2021

115 d late

2020

108 d late

2019

122 d late

← before the deadline after the deadline →

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2024, micro schema

Turnover

€239k▲ 395%

2023 · €48k

2018: €257k 2019: €272k 2020: €264k 2021: €264k 2022: €263k 2023: €48k

2018 → 2024

EBIT margin

-5.4%▲ 15.8pp

2023 · -21.3%

2018: 1.7% 2019: 3.0% 2020: 7.0% 2021: 3.4% 2022: -2.5% 2023: -21.3%

2018 → 2024

Net result

€-12k▲ 19.0%

2023 · €-14k

2018: €4k 2019: €7k 2020: €18k 2021: €9k 2022: €-7k 2023: €-14k

2018 → 2024

Working capital

€-1k

2023 · €6k

2018: €-4k 2019: €4k 2020: €22k 2021: €31k 2022: €16k 2023: €6k

2018 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20202021202220232024Trend

Turnover€264k-€264k▼ 0.1%€263k▼ 0.3%€48k▼ 81.7%€239k▲ 395%

Equity€30k-€39k▲ 30.0%€32k▼ 17.6%€18k▼ 45.1%€6k▼ 66.6%

Operating result€18k-€9k▼ 50.9%€-7k€-10k▼ 55.3%€-13k▼ 26.1%

Net result€18k-€9k▼ 49.5%€-7k€-14k▼ 111%€-12k▲ 19.0%

Turnover and EBIT margin not published: the micro schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result stays negative: a loss of €13k in 2024 against €10k in 2023; the loss grows and 2024 has the lowest result in the available series.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €59k

12%

88.3%

Fixed assets €7k▼ 38.3%

Current assets €52k▼ 24.2%

Equity and liabilities €59k

10%

90.1%

Equity €6k▼ 66.6%

Debt €54k▼ 14.9%

The debt ratio rises from 78.2% to 90.1%. Equity and debt are lower.

Key figures and ratios

2024 value · change against 2023

EBITDA

€-9k▼

2023 · €-6k

Cash flow

€-7k▲

2023 · €-10k

Solvency

9.9%▼

2023 · 21.8%

Current ratio

0.98▼

2023 · 1.10

Quick ratio

0.19▼

2023 · 0.40

Debt / equity

9.12▲

2023 · 3.58

ROE

-199.3%▼

2023 · -82.2%

ROA

-19.7%▼

2023 · -18.0%

Interest coverage

-63.60▼

2023 · -36.82

Debt

€54k▼

2023 · €63k

Debt ≤ 1 year

€54k▼

2023 · €63k

Staff costs

€13k▼

2023 · €53k

Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.

Filed annual accounts

As filed with the NBB · 2024 against 2023

Balance sheet Code20232024

Assets

Total assets20/58€81k€59k▼

Fixed assets21/28€11k€7k▼

Tangible fixed assets22/27€6k€1k▼

Plant, machinery and equipment23€1k€1k▼

Furniture and vehicles24€4k-

Financial fixed assets28€6k€6k=

Current assets29/58€69k€52k▼

Stocks and contracts in progress3€44k€42k▼

Stocks30/36€44k€42k▼

Amounts receivable within one year40/41€5k€5k▲

Other amounts receivable41€5k€5k▲

Cash at bank and in hand54/58€20k€6k▼

Equity and liabilities

Total equity and liabilities10/49€81k€59k▼

Equity10/15€18k€6k▼

Contributions10/11€19k€19k=

Capital10€19k€19k=

Issued capital100€19k€19k=

Reserves13€2k€2k=

Non-distributable reserves130/1€2k€2k=

Legal reserve130€2k€2k=

Profit (loss) carried forward14€-3k€-15k▼

Amounts payable17/49€63k€54k▼

Amounts payable within one year42/48€63k€54k▼

Trade debts44€6k€28k▲

Suppliers440/4€6k€28k▲

Taxes, remuneration and social security45€41k€11k▼

Taxes450/3€11k€5k▼

Remuneration and social security454/9€30k€5k▼

Other amounts payable47/48€16k€14k▼

Income statement Code20232024

Turnover70€48k€239k▲

Goods, raw materials, services and sundry goods60/61-€235k

Remuneration, social security and pensions62€53k€13k▼

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€4k€4k=

Other operating charges640/8€747€153▼

Gross operating margin9900€48k€4k▼

Operating profit (loss)9901€-10k€-13k▼

Financial income75/76B-€1k

Recurring financial income75-€1k

Non-recurring financial income76B-€1k

Financial charges65/66B€161€135▼

Recurring financial charges65€161€135▼

Profit (loss) for the period before taxes9903€-10k€-12k▼

Income taxes67/77€4k-

Profit (loss) for the period9904€-14k€-12k▲

Profit (loss) for the period to be appropriated9905€-14k€-12k▲

Appropriation of the result

Profit (loss) to be appropriated9906€-3k€-15k▼

Profit (loss) brought forward from the previous period14P€12k€-3k▼

The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 12Financial 2Filings 10

2025

30-11

NBB filing Annual accounts filed

fiscal year 2024 · micro schema · 122 days late

01-01

NBB filing Annual accounts filed

fiscal year 2023 · micro schema · 154 days late

2023

31-12

Financial Weakest financial yearnet €-14k

Net result drops to €-14k, the lowest in the series; recovery starts the following year.

06-07

NBB filing Annual accounts filed

fiscal year 2022 · micro schema

2022

23-11

NBB filing Annual accounts filed

fiscal year 2021 · micro schema · 115 days late

2021

16-11

NBB filing Annual accounts filed

fiscal year 2020 · micro schema · 108 days late

2020

31-12

Financial Highest result since 2018net €18k ▲155%

Operating result €18k, net result €18k, both a record.

30-11

NBB filing Annual accounts filed

fiscal year 2019 · micro schema · 122 days late

2019

28-10

NBB filing Annual accounts filed

fiscal year 2018 · micro schema · 89 days late

2018

13-12

NBB filing Annual accounts filed

fiscal year 2017 · full schema · 135 days late

2017

19-09

NBB filing Annual accounts filed

fiscal year 2016 · full schema · 50 days late

2016

13-10

NBB filing Annual accounts filed

fiscal year 2015 · full schema · 74 days late

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.

Location & real-estate footprint

Registered office, Elsene · 1 establishment unit since 2004

establishment The establishment unit on the map

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Waverse Steenweg 13A1050 Elsene

Ground area

108 m²

Parcel 21009A0755/00G000, Brussels. Linked by address, not a title deed.

1 establishment unit

MABELLA

Waverse Steenweg 13, 1050 ElseneNACE 6420003