MABO
ActiveSummary
The annual accounts of MABO for fiscal year 2024 show a net loss of 50% of the equity at the start of that year. The 2024 annual accounts show equity of €25,312 and a net result of -€25,454. Equity is growing by ~22.9% per year across the filed fiscal years. Its solvency ranks better than 25% of 19375 sector peers (fiscal year 2024). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability34▼-30
Solvency29▼-4
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,000 at 30 days 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 0.07 against 0.18 in 2023; short-term debt: 27.6% and cash: 0% of total assets), and 95.8% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer 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 2024Solvency, return and age of the figures
Solvency
4.2%
Return on assets
-4.2%
Age of the figures
21 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 25% of 19375 sector peers (2024).
NBB · sector comparisonPosition among 19375 sector peers
Solvency
better than 25%
← weakest
strongest →
raises risk · 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 12-05-2026, 285 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 · 5 filingsDeviation from the deadline
2025
not confirmed
2024
285 d late
2023
30 d late
2022
287 d late
2021
341 d late
2020
31 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 195 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (1)
History
Go further with this company
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Financials · fiscal year 2024, micro schema
Equity
€25,312▼ 50.1%
2023 · €50,766
Total assets
€608,778▼ 9.1%
2023 · €669,618
Net result
-€25,454
2023 · €7,318
Working capital
-€156,443▼ 5.5%
2023 · -€148,261
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€9,684-€21,973▲ 127%€20,635▼ 6.1%€18,968▼ 8.1%-€12,628
Net result-€5,599within the sector's middle half-€9,745within the sector's middle half€9,302within the sector's middle half▼ 4.5%€7,318within the sector's middle half▼ 21.3%-€25,454below the sector's middle half
Equity€24,401within the sector's middle half-€34,146within the sector's middle half▲ 39.9%€43,448within the sector's middle half▲ 27.2%€50,766within the sector's middle half▲ 16.8%€25,312within the sector's middle half▼ 50.1%
Total assets€712,556within the sector's middle half-€694,606within the sector's middle half▼ 2.5%€667,400within the sector's middle half▼ 3.9%€669,618within the sector's middle half▲ 0.3%€608,778within the sector's middle half▼ 9.1%
Debt€688,155-€660,460▼ 4.0%€623,952▼ 5.5%€618,852▼ 0.8%€583,466▼ 5.7%
Working capital-€134,749below the sector's middle half--€152,968below the sector's middle half▼ 13.5%-€151,195below the sector's middle half▲ 1.2%-€148,261below the sector's middle half▲ 1.9%-€156,443below the sector's middle half▼ 5.5%
Solvency3.4%below the sector's middle half-4.9%below the sector's middle half▲ 1.5pp6.5%within the sector's middle half▲ 1.6pp7.6%within the sector's middle half▲ 1.1pp4.2%below the sector's middle half▼ 3.4pp
Current ratio0.09below the sector's middle half-0.07below the sector's middle half▼ 0.020.10below the sector's middle half▲ 0.030.18below the sector's middle half▲ 0.090.07below the sector's middle half▼ 0.11
Return on assets (ROA)-0.8%within the sector's middle half-1.4%within the sector's middle half▲ 2.2pp1.4%within the sector's middle half=1.1%within the sector's middle half▼ 0.3pp-4.2%below the sector's middle half▼ 5.3pp
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
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 2024: a loss of €12,628 after €18,968 in 2023, the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €608,778
Fixed assets
€597,283 ▼ 6.2%
Current assets
€11,495 ▼ 65.3%
Equity and liabilities €608,778
Equity
€25,312 ▼ 50.1%
Debt
€583,466 ▼ 5.7%
Debt's share of the balance-sheet total rises from 92.4% to 95.8%. Equity and debt are lower.
Key figures and ratios
EBITDA
€26,581▼
2023 · €57,630
Cash flow
€13,755▼
2023 · €45,980
Debt to equity
23.05▲
2023 · 12.19
ROE
-100.6%▼
2023 · 14.4%
Interest coverage
2.42▼
2023 · 5.26
Debt ≤ 1 year
€167,938▼
2023 · €181,387
Debt > 1 year
€415,528▼
2023 · €437,420
Income taxes
€2,289▲
2023 · €698
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 820 companies that looked in July 2024 the way this one looks now, 1.8% went bankrupt within 24 months and 95% are still going.
- Small
- 5 to 10 years old
- solvency under 10%
- a small loss
1.8%
went bankrupt
3.3%
stopped otherwise
95%
still going
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.9% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 820 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €1,586 | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,564 | €37,489 | €38,317 | €38,662 | €39,209 | ▲ 1.4% |
| Other operating charges640/8 | - | €1,983 | €6,045 | €4,393 | €4,797 | ▲ 9.2% |
| Gross operating margin9900 | €14,447 | €61,444 | €66,583 | €62,023 | €31,378 | ▼ 49.4% |
| Operating profit (loss)9901 | €9,684 | €21,973 | €20,635 | €18,968 | -€12,628 | ▼ 167% |
| Financial income75/76B | - | - | - | - | €458 | - |
| Recurring financial income75 | €49 | - | - | - | €458 | - |
| Financial charges65/66B | - | €12,228 | €11,333 | €10,952 | €10,995 | ▲ 0.4% |
| Recurring financial charges65 | €15,333 | €12,228 | €11,333 | €10,952 | €10,995 | ▲ 0.4% |
| Profit (loss) for the period before taxes9903 | -€5,599 | €9,745 | €9,302 | €8,016 | -€23,165 | ▼ 389% |
| Income taxes67/77 | - | - | - | €698 | €2,289 | ▲ 228% |
| Profit (loss) for the period9904 | -€5,599 | €9,745 | €9,302 | €7,318 | -€25,454 | ▼ 448% |
| Profit (loss) for the period to be appropriated9905 | -€5,599 | €9,745 | €9,302 | €7,318 | -€25,454 | ▼ 448% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €712,556 | €694,606 | €667,400 | €669,618 | €608,778 | ▼ 9.1% |
| Fixed assets21/28 | €699,737 | €682,970 | €651,154 | €636,492 | €597,283 | ▼ 6.2% |
| Tangible fixed assets22/27 | €699,737 | €682,970 | €651,154 | €636,492 | €597,283 | ▼ 6.2% |
| Land and buildings22 | - | €676,146 | €646,446 | €633,901 | €596,317 | ▼ 5.9% |
| Plant, machinery and equipment23 | - | €5,086 | €3,227 | €1,368 | €0 | ▼ 100% |
| Furniture and vehicles24 | - | €1,739 | €1,481 | €1,223 | €966 | ▼ 21.1% |
| Current assets29/58 | €12,819 | €11,635 | €16,246 | €33,126 | €11,495 | ▼ 65.3% |
| Amounts receivable within one year40/41 | €6,333 | €8,577 | €13,387 | €20,685 | €10,808 | ▼ 47.7% |
| Trade receivables40 | - | €8,577 | €13,387 | €20,685 | €10,808 | ▼ 47.7% |
| Cash at bank and in hand54/58 | €5,818 | €2,311 | €2,298 | €11,745 | €0 | ▼ 100% |
| Deferred charges and accrued income490/1 | - | €746 | €562 | €697 | €687 | ▼ 1.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €712,556 | €694,606 | €667,400 | €669,618 | €608,778 | ▼ 9.1% |
| Equity10/15 | €24,401 | €34,146 | €43,448 | €50,766 | €25,312 | ▼ 50.1% |
| Contributions10/11 | - | €30,000 | €30,000 | €30,000 | €30,000 | = |
| Reserves13 | - | €4,146 | €13,448 | €20,766 | €20,766 | = |
| Distributable reserves133 | - | €4,146 | €13,448 | €20,766 | €20,766 | = |
| Profit (loss) carried forward14 | -€5,599 | - | - | - | -€25,454 | - |
| Amounts payable17/49 | €688,155 | €660,460 | €623,952 | €618,852 | €583,466 | ▼ 5.7% |
| Amounts payable after more than one year17 | €540,587 | €495,857 | €456,511 | €437,420 | €415,528 | ▼ 5.0% |
| Financial debts170/4 | - | €495,857 | €456,511 | €437,420 | €415,528 | ▼ 5.0% |
| Amounts payable within one year42/48 | €147,568 | €164,603 | €167,442 | €181,387 | €167,938 | ▼ 7.4% |
| Current portion of amounts payable after more than one year42 | - | €38,573 | €39,346 | €42,805 | €33,336 | ▼ 22.1% |
| Financial debts43 | - | - | - | - | €9,023 | - |
| Credit institutions430/8 | - | - | - | - | €9,023 | - |
| Trade debts44 | €6,178 | €18,448 | €20,748 | €34,669 | €31,036 | ▼ 10.5% |
| Suppliers440/4 | - | €18,448 | €20,748 | €34,669 | €31,036 | ▼ 10.5% |
| Taxes, remuneration and social security45 | - | €2,625 | €6,735 | €7,914 | €2,495 | ▼ 68.5% |
| Taxes450/3 | - | €2,625 | €6,735 | €7,914 | €2,495 | ▼ 68.5% |
| Other amounts payable47/48 | - | €104,957 | €100,612 | €95,999 | €92,048 | ▼ 4.1% |
| Accrued charges and deferred income492/3 | - | - | - | €46 | €0 | ▼ 100% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€5,599 | €9,745 | €9,302 | €7,318 | -€25,454 | ▼ 448% |
| + Depreciation and write-downs630 | €2,564 | €37,489 | €38,317 | €38,662 | €39,209 | ▲ 1.4% |
| Operating cash flow (approximation) | -€3,035 | €47,233 | €47,619 | €45,980 | €13,755 | ▼ 70.1% |
| Investment in fixed assets (approximation) | - | -€20,722 | -€6,500 | -€24,000 | €0 | ▲ 100% |
| Change in cash | - | -€3,507 | -€14 | €9,447 | -€11,745 | ▼ 224% |
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
2026
12-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 285 days late
2024
31-12
Financial
Weakest financial yearnet -€25,454
Net result drops to -€25,454, the lowest in the series.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
13-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 287 days late
2023
07-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 341 days late
2021
31-12
Financial
Back to profitnet €9,745
Net result €9,745 after one loss-making year.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 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, Gent · 1 establishment unit since 2019
Ground area
147 m²
Building footprint
68 m²
Volume, LiDAR
460 m³
Parcel 44804D0453/00V000, Flanders · tallest building 10.1 m, ±2 floors. Linked by address, not a title deed.
8
companies at this address
See who is registered here
1 establishment unit
MABO
since 20192.292.356.557
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44804D0453/00V000 | Flanders | 147 m² | 1 · 68 m² | 10.1 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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IMMO DAMRACING
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GERONIMMO
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Of 12,042 companies in sector 68203 we hold annual accounts for 6,005. 2,362 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
Founded02-07-2019
Fiscal year end31-12
Activities, NACEBEL 2025
68203Renting and operating of own or leased non-residential real estate, excluding land
68321Property management for co-owned buildings (syndics)
82990Other business support services
Contact
E-mail
bovdbulcke@gmail.com
E-invoicing
Reachable via Peppol
Peppol ID
0208:0729690715
Also
9925:BE0729690715
Registered
03-02-2024
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.