MABRU
ActiveSummary
MABRU has been active since 1992 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €4.20M and a net result of €66k. Equity is growing by ~4.8% per year across the filed fiscal years. Its solvency ranks better than 58% of 928 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is < 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability80▲+1
Solvency79▲+2
Growth49=
Track record100
Bankruptcy probability, 12 months
< 0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €350k at 30 days acceptable
Liquidity ample (current ratio 2.25 against 2.09 in 2024; short-term debt: 13.9% and cash: 17.7% of total assets), and 45.6% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 82
Relative position
BE, all sectors
reference
Office administrative, office support and other business support activities (NACE 82)
about 37% fewer 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
54.4%
Return on assets
0.9%
Age of the figures
9 mo
neutral · A punctual record breaks
This company filed 9 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 17-08-2026, 17 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
17 d late
2024
50 d early
2023
36 d early
2022
31 d early
2021
27 d early
2020
38 d early
2019
38 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 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€4.73M▲ 7.0%
2024 · €4.42M
2018: €3.87M
2019: €3.94M▲ +1.7% vs 2018
2020: €3.83M▼ -2.7% vs 2019lowest in 8 years
2021: €3.88M▲ +1.4% vs 2020
2022: €4.11M▲ +5.8% vs 2021
2023: €4.37M▲ +6.3% vs 2022
2024: €4.42M▲ +1.2% vs 2023
2025: €4.73M▲ +7.0% vs 2024highest in 8 years
2018 → 2025
EBIT margin
4.4%▼ 1.7pp
2024 · 6.0%
2018: 10.6%
2019: 15.6%▲ +47.7% vs 2018highest in 8 years
2020: 15.5%▼ -1.0% vs 2019
2021: 10.8%▼ -30.1% vs 2020
2022: 15.3%▲ +41.3% vs 2021
2023: 4.1%▼ -73.0% vs 2022lowest in 8 years
2024: 6.0%▲ +46.0% vs 2023
2025: 4.4%▼ -27.8% vs 2024
2018 → 2025
Net result
€66k
2024 · €-53k
2018: €158k
2019: €362k▲ +129% vs 2018
2020: €367k▲ +1.2% vs 2019
2021: €212k▼ -42.1% vs 2020
2022: €437k▲ +106% vs 2021highest in 8 years
2023: €17k▼ -96.2% vs 2022
2024: €-53k▼ -415% vs 2023lowest in 8 years
2025: €66k▲ +225% vs 2024
2018 → 2025
Working capital
€1.34M▲ 12.1%
2024 · €1.19M
2018: €1.33M
2019: €1.04M▼ -21.8% vs 2018
2020: €737k▼ -28.9% vs 2019lowest in 8 years
2021: €920k▲ +24.8% vs 2020
2022: €1.33M▲ +44.2% vs 2021
2023: €1.26M▼ -4.8% vs 2022
2024: €1.19M▼ -5.5% vs 2023
2025: €1.34M▲ +12.1% 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€3.88M-€4.11M▲ 5.8%€4.37M▲ 6.3%€4.42M▲ 1.2%€4.73M▲ 7.0%
2021: €3.88Mlowest in 5 years
2022: €4.11M▲ +5.8% vs 2021
2023: €4.37M▲ +6.3% vs 2022
2024: €4.42M▲ +1.2% vs 2023
2025: €4.73M▲ +7.0% vs 2024highest in 5 years
Equity€3.85M-€4.26M▲ 10.6%€4.24M▼ 0.3%€4.16M▼ 1.9%€4.20M▲ 0.9%
2021: €3.85Mlowest in 5 years
2022: €4.26M▲ +10.6% vs 2021highest in 5 years
2023: €4.24M▼ -0.3% vs 2022
2024: €4.16M▼ -1.9% vs 2023
2025: €4.20M▲ +0.9% vs 2024
Operating result€420k-€628k▲ 49.5%€180k▼ 71.3%€267k▲ 47.8%€206k▼ 22.7%
2021: €420k
2022: €628k▲ +49.5% vs 2021highest in 5 years
2023: €180k▼ -71.3% vs 2022lowest in 5 years
2024: €267k▲ +47.8% vs 2023
2025: €206k▼ -22.7% vs 2024
Net result€212k-€437k▲ 106%€17k▼ 96.2%€-53k€66k
2021: €212k
2022: €437k▲ +106% vs 2021highest in 5 years
2023: €17k▼ -96.2% vs 2022
2024: €-53k▼ -415% vs 2023lowest in 5 years
2025: €66k▲ +225% vs 2024
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 23% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €7.72M
Fixed assets
€5.31M ▼ 7.8%
Current assets
€2.41M ▲ 5.0%
Equity and liabilities €7.72M
Equity
€4.20M ▲ 0.9%
Debt
€3.52M ▼ 9.5%
Debt's share of the balance-sheet total falls from 48.3% to 45.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€956k▼
2024 · €1.00M
Cash flow
€816k▲
2024 · €683k
Current ratio
2.25▲
2024 · 2.09
Debt to equity
0.84▼
2024 · 0.93
ROE
1.6%▲
2024 · -1.3%
ROA
0.9%▲
2024 · -0.7%
Interest coverage
6.37=
2024 · 6.36
Debt ≤ 1 year
€1.07M▼
2024 · €1.10M
Debt > 1 year
€2.33M▼
2024 · €2.65M
Staff costs
€1.60M▲
2024 · €1.46M
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 54 lines
Balance sheet
Code20242025
Assets
Total assets20/58€8.05M€7.72M▼
Fixed assets21/28€5.76M€5.31M▼
Intangible fixed assets21€7k€231▼
Tangible fixed assets22/27€5.75M€5.31M▼
Land and buildings22€5.52M€5.02M▼
Plant, machinery and equipment23€115k€87k▼
Furniture and vehicles24€78k€89k▲
Assets under construction and advance payments27€32k€119k▲
Financial fixed assets28€169€169=
Current assets29/58€2.29M€2.41M▲
Amounts receivable within one year40/41€630k€948k▲
Trade receivables40€577k€876k▲
Other amounts receivable41€53k€72k▲
Cash at bank and in hand54/58€1.46M€1.37M▼
Deferred charges and accrued income490/1€207k€96k▼
Equity and liabilities
Total equity and liabilities10/49€8.05M€7.72M▼
Equity10/15€4.16M€4.20M▲
Reserves13€600k€309k▼
Profit (loss) carried forward14€3.11M€3.47M▲
Investment grants15€450k€422k▼
Amounts payable17/49€3.89M€3.52M▼
Amounts payable after more than one year17€2.65M€2.33M▼
Financial debts170/4€2.43M€2.04M▼
Other amounts payable178/9€226k€290k▲
Amounts payable within one year42/48€1.10M€1.07M▼
Current portion of amounts payable after more than one year42€517k€489k▼
Trade debts44€316k€236k▼
Suppliers440/4€316k€236k▼
Taxes, remuneration and social security45€267k€346k▲
Taxes450/3€108k€129k▲
Remuneration and social security454/9€159k€217k▲
Accrued charges and deferred income492/3€137k€120k▼
Income statement
Code20242025
Turnover70€4.42M€4.73M▲
Goods, raw materials, services and sundry goods60/61€2.29M€2.76M▲
Remuneration, social security and pensions62€1.46M€1.60M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€735k€750k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€-7k€-23k▼
Other operating charges640/8€156k€199k▲
Non-recurring operating charges66A€2k-
Gross operating margin9900€2.62M€2.73M▲
Operating profit (loss)9901€267k€206k▼
Financial income75/76B€13k€10k▼
Recurring financial income75€13k€10k▼
Financial charges65/66B€333k€150k▼
Recurring financial charges65€157k€150k▼
Non-recurring financial charges66B€175k-
Profit (loss) for the period before taxes9903€-53k€66k▲
Profit (loss) for the period9904€-53k€66k▲
Profit (loss) for the period to be appropriated9905€-53k€66k▲
Appropriation of the result
Profit (loss) to be appropriated9906€3.11M€3.18M▲
Profit (loss) brought forward from the previous period14P€3.17M€3.11M▼
From contributions791€600k€291k▼
To contributions691€600k-
Social balance
Average headcount (FTE)908715.314.7▼
The notes to these accounts (15 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €3.88M | €4.11M | €4.37M | €4.42M | €4.73M | ▲ 7.0% |
| Goods, raw materials, services and sundry goods60/61 | €1.98M | €1.90M | €2.46M | €2.29M | €2.76M | ▲ 20.7% |
| Remuneration, social security and pensions62 | €1.09M | €1.33M | €1.43M | €1.46M | €1.60M | ▲ 9.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €683k | €695k | €714k | €735k | €750k | ▲ 2.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €13k | €-2k | €23k | €-7k | €-23k | ▼ 214% |
| Other operating charges640/8 | €165k | €167k | €168k | €156k | €199k | ▲ 27.4% |
| Non-recurring operating charges66A | €20k | - | - | €2k | - | - |
| Gross operating margin9900 | €2.39M | €2.79M | €2.52M | €2.62M | €2.73M | ▲ 4.3% |
| Operating profit (loss)9901 | €420k | €628k | €180k | €267k | €206k | ▼ 22.7% |
| Financial income75/76B | €1k | €1k | €12k | €13k | €10k | ▼ 26.5% |
| Recurring financial income75 | €1k | €1k | €12k | €13k | €10k | ▼ 26.5% |
| Financial charges65/66B | €209k | €192k | €176k | €333k | €150k | ▼ 54.8% |
| Recurring financial charges65 | €209k | €192k | €176k | €157k | €150k | ▼ 4.6% |
| Non-recurring financial charges66B | - | - | - | €175k | - | - |
| Profit (loss) for the period before taxes9903 | €212k | €437k | €17k | €-53k | €66k | ▲ 225% |
| Profit (loss) for the period9904 | €212k | €437k | €17k | €-53k | €66k | ▲ 225% |
| Profit (loss) for the period to be appropriated9905 | €212k | €437k | €17k | €-53k | €66k | ▲ 225% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €8.95M | €9.11M | €8.42M | €8.05M | €7.72M | ▼ 4.1% |
| Fixed assets21/28 | €6.98M | €6.55M | €6.19M | €5.76M | €5.31M | ▼ 7.8% |
| Intangible fixed assets21 | €27k | €20k | €14k | €7k | €231 | ▼ 96.6% |
| Tangible fixed assets22/27 | €6.96M | €6.53M | €6.18M | €5.75M | €5.31M | ▼ 7.7% |
| Land and buildings22 | €6.74M | €6.31M | €5.94M | €5.52M | €5.02M | ▼ 9.2% |
| Plant, machinery and equipment23 | €161k | €159k | €143k | €115k | €87k | ▼ 24.9% |
| Furniture and vehicles24 | €59k | €54k | €71k | €78k | €89k | ▲ 13.5% |
| Assets under construction and advance payments27 | - | - | €25k | €32k | €119k | ▲ 267% |
| Financial fixed assets28 | €383 | €169 | €169 | €169 | €169 | = |
| Current assets29/58 | €1.97M | €2.56M | €2.23M | €2.29M | €2.41M | ▲ 5.0% |
| Amounts receivable within one year40/41 | €660k | €656k | €667k | €630k | €948k | ▲ 50.5% |
| Trade receivables40 | €579k | €643k | €601k | €577k | €876k | ▲ 51.8% |
| Other amounts receivable41 | €82k | €13k | €66k | €53k | €72k | ▲ 36.8% |
| Cash at bank and in hand54/58 | €1.16M | €1.76M | €1.35M | €1.46M | €1.37M | ▼ 6.2% |
| Deferred charges and accrued income490/1 | €146k | €144k | €212k | €207k | €96k | ▼ 54.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €8.95M | €9.11M | €8.42M | €8.05M | €7.72M | ▼ 4.1% |
| Equity10/15 | €3.85M | €4.26M | €4.24M | €4.16M | €4.20M | ▲ 0.9% |
| Reserves13 | - | - | - | €600k | €309k | ▼ 48.5% |
| Profit (loss) carried forward14 | €3.31M | €3.75M | €3.77M | €3.11M | €3.47M | ▲ 11.5% |
| Investment grants15 | €533k | €506k | €478k | €450k | €422k | ▼ 6.2% |
| Provisions and deferred taxes16 | €30k | - | - | - | - | - |
| Provisions for liabilities and charges160/5 | €30k | - | - | - | - | - |
| Major repairs and maintenance162 | €30k | - | - | - | - | - |
| Amounts payable17/49 | €5.07M | €4.85M | €4.17M | €3.89M | €3.52M | ▼ 9.5% |
| Amounts payable after more than one year17 | €3.82M | €3.43M | €3.05M | €2.65M | €2.33M | ▼ 12.2% |
| Financial debts170/4 | €3.63M | €3.25M | €2.84M | €2.43M | €2.04M | ▼ 16.0% |
| Other amounts payable178/9 | €184k | €185k | €209k | €226k | €290k | ▲ 28.6% |
| Amounts payable within one year42/48 | €1.05M | €1.24M | €964k | €1.10M | €1.07M | ▼ 2.6% |
| Current portion of amounts payable after more than one year42 | €459k | €482k | €505k | €517k | €489k | ▼ 5.5% |
| Trade debts44 | €287k | €436k | €210k | €316k | €236k | ▼ 25.2% |
| Suppliers440/4 | €287k | €436k | €210k | €316k | €236k | ▼ 25.2% |
| Taxes, remuneration and social security45 | €301k | €319k | €249k | €267k | €346k | ▲ 29.6% |
| Taxes450/3 | €114k | €142k | €94k | €108k | €129k | ▲ 20.0% |
| Remuneration and social security454/9 | €187k | €177k | €154k | €159k | €217k | ▲ 36.2% |
| Accrued charges and deferred income492/3 | €210k | €187k | €161k | €137k | €120k | ▼ 11.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €212k | €437k | €17k | €-53k | €66k | ▲ 225% |
| + Depreciation and write-downs630 | €683k | €695k | €714k | €735k | €750k | ▲ 2.1% |
| Operating cash flow (approximation) | €895k | €1.13M | €731k | €683k | €816k | ▲ 19.6% |
| Investment in fixed assets (approximation) | - | €-258k | €-359k | €-302k | €-303k | ▼ 0.5% |
| Change in cash | - | €602k | €-415k | €109k | €-91k | ▼ 183% |
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
17-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 17 days late
2025
31-12
Financial
Back to profitnet €66k
Net result €66k after one loss-making year.
11-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Weakest financial yearnet €-53k
Net result drops to €-53k, the lowest in the series; recovery starts the following year.
25-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
30-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Highest result since 2018net €437k ▲106%
Operating result €628k, net result €437k, both a record.
04-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
23-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
23-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
11-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
13-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
28-07
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 33 acts read
About the unread acts
We know of 33 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
33 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, Brussel · 1 establishment unit since 2006
Ground area
12.0 ha
Building footprint
6,817 m²
Volume, LiDAR
70,289 m³
Parcel 21813E0110/00G002, Brussels · tallest building 11.7 m, ±3 floors. Linked by address, not a title deed.
88
companies at this address
See who is registered here
1 establishment unit
MABRU vzw
since 20062.156.449.857
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21813E0110/00G002 | Brussels | 12.0 ha | 1 · 6,817 m² | 11.7 m · 3 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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Of 4,571 companies in sector 82300 we hold annual accounts for 1,672. 316 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formNon-profit association
Founded19-03-1992
Fiscal year end31-12
Activities, NACEBEL 2025
82300Organisation of conventions and trade shows
Scores and ratios are computed by Checked and are not a credit decision.