MAC TELECOM
ActiveSummary
The computed 12-month bankruptcy probability of MAC TELECOM is 3.6% (moderate). The 2024 annual accounts show negative equity (-€846,883) and a net result of -€339,225. Equity has been shrinking by about 61% per year since 2018. Its solvency ranks better than 5% of 392 sector peers (NACE 61, financial year 2024). The company has been active since 2002 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Overview
Official details
Source: KBO- Status
- Active since 11-01-2002 Normal situation
- Registered office
- 14 active companies are registered at this address Source: KBO register, as of 2 November 2026.
- Activity
- Wired, wireless and satellite telecommunications NACE 61100
- Establishment unit
- 2.235.873.655 8400 Oostende, since 01-07-2013
- Financial year end
- 31 December
- Peppol
- Reachable since 23-12-2025
Board and ownership
- SIGMA MT - DEMURRAGE DESK BVManaging director · permanent representative Pierre VYNCKE
- MAC TELECOM HOLDINGS100%· score 652025 annual accounts of MAC TELECOM HOLDINGS
Financial position
- Bankruptcy probabilitywithin 12 months
- 3.6%
- Gross margin
- -€176,659
- Loss
- €339,225
- ▲ 158%
- Equity
- -€846,883
- ▼ 66.8%
- Total assets
- €185,300
- ▼ 65.2%
- Negative equity on 31-12-2024
- 2025 accounts not filed, 94 days past the deadline
Score breakdownraises riskLoss of €339,225, the second in a row (financial year 2024)1 financial year not filed after the legal deadline; last filed accounts filed 61 days late; 3 of the last 3 accounts latelowers riskFounded in 2002Size: total assets €185,300Show the evidence
Checked score
About 4 in 100 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 61, micro). It does better than 7% of them on solvency, 14% on liquidity, 8% on profitability and 10% on growth.
The bankruptcy probability was computed on 01-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 6 accounts on average 80 days after the deadline. In the sector (NACE 61), the median for financial year 2024 was on the deadline day, and 47% of those companies filed late.
Searched, nothing found (1)
Financials
Financials · financial year 2024, micro format
2025 annual accounts not yet filed, deadline passed on 31 July 2026 The financial year closed on 31 December 2025. The accounts are due at the latest 7 months after the close (Companies Code art. 3:10). Source: NBB filings, as of 2 November 2026.
Annual accounts 2024 filed on 30-09-2025 PDF all 23 filings
2020 to 2024, 5 financial years 2018 to 2024, 7 financial years
The operating result for 2024 is a loss of €291,612, larger than the loss of €128,787 in 2023.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Average staff per financial year, in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Telecommunications (NACE 61). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).
- 2022 Net result +80% on 2021. The accounts now follow the micro format, last year the full format.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 |
|---|---|---|---|
| Employees at the balance-sheet date | 3 | 2 | - |
| full-time | 3 | 2 | - |
| in full-time equivalents | 3 | 2 | - |
| Average over the year, in full-time equivalents | 3 | 2 | 1.3 |
| On a permanent contract | 3 | 2 | - |
| Joined | - | - | 0 |
| Left | - | - | 2 |
Source: social balance sheet in the 2021 to 2023 annual accounts
Comparable companies
These companies have the same main activity as MAC TELECOM: wired, wireless and satellite telecommunications (NACE 61100). They are comparable in size and age: total assets between €156,000 and €306,000, founded between 2000 and 2006.
| Company | Founded | Total assets | Equity | Gross margin | Turnover | Net result | Financial year |
|---|---|---|---|---|---|---|---|
| MAC TELECOM Oostende | 2002 | €185,300 | -€846,883 | -€176,659 | - | -€339,225 | 2024 |
| CENTREA Kalmthout | 2002 | €205,699 | €153,816 | -€5,993 | - | -€7,732 | 2025 |
| BADES PHONE Sint-Jans-Molenbeek | 2002 | €165,014 | €31,970 | -€80,179 | €932,772 | -€83,498 | 2025 |
| ECICOM Sint-Truiden | 2000 | €155,516 | €32,903 | -€21,372 | - | -€23,756 | 2025 |
| EUROAFRIQUE TRANSFERT EXPRESS Elsene | 2002 | €266,482 | €216,993 | -€5,854 | - | -€7,531 | 2025 |
| CINEBEL TELECOM Chaumont-Gistoux | 2006 | €217,962 | €160,356 | -€104,627 | - | -€148,012 | 2025 |
| ESCAPELAB Elsene | 2001 | €306,415 | €301,662 | -€6,384 | - | -€4,759 | 2025 |
They were chosen from the 508 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity
Companies with the same profile, two years later
Historical observationIn July 2024, 6,619 companies had the same profile as MAC TELECOM has now. Two years later, 4.5% had gone bankrupt and 84.5% were still going.
- Micro
- 20 years or older
- negative equity
- a loss of 10% of the balance sheet or more
Another 1.0% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of MAC TELECOM itself: 3.6% within 12 months.
Test of the method
The method was tested on the 497,445 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 6,619 companies, not a prediction for MAC TELECOM. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €256,284 | €187,201 | €173,031 | -€26,814 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €47,159 | €22,834 | €7,994 | - | - | - | - | - |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | -€9,078 | - | - | - | - |
| Other operating charges640/8 | - | - | - | - | €5,017 | €1,455 | €1,007 | ▼ 30.8% |
| Non-recurring operating charges66A | - | - | - | €240,698 | - | - | €140,760 | - |
| Gross operating margin9900 | -€196,125 | €108,872 | €151,850 | €109,089 | €119,463 | €45,699 | -€176,659 | - |
| Operating profit (loss)9901 | -€490,637 | -€236,980 | -€167,087 | -€378,814 | -€72,755 | -€128,787 | -€291,612 | ▼ 126% |
| Financial income75/76B | - | - | - | €126 | €2 | - | €3 | - |
| Recurring financial income75 | €6 | €959 | €65 | €126 | €2 | - | €3 | - |
| Financial charges65/66B | - | - | - | €10,878 | €6,990 | €2,526 | €46,305 | ▲ 18× |
| Recurring financial charges65 | €4,880 | €7,666 | €12,062 | €10,878 | €6,990 | €2,526 | €46,305 | ▲ 18× |
| Profit (loss) for the period before taxes9903 | €4,488 | -€84,660 | -€136,362 | -€389,566 | -€79,743 | -€131,313 | -€337,914 | ▼ 157% |
| Income taxes67/77 | - | €1,589 | €555 | €625 | - | -€6 | €1,312 | - |
| Profit (loss) for the period9904 | €4,488 | -€86,249 | -€136,917 | -€390,191 | -€79,743 | -€131,307 | -€339,225 | ▼ 158% |
| Profit (loss) for the period to be appropriated9905 | €4,488 | -€86,249 | -€136,917 | -€390,191 | -€79,743 | -€131,307 | -€339,225 | ▼ 158% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €0.7m | €0.7m | €0.7m | €0.5m | €0.5m | €0.5m | €0.2m | ▼ 65.2% |
| Fixed assets21/28 | €0.5m | €0.5m | €0.6m | €0.3m | €0.3m | €0.3m | €0 | ▼ 100% |
| Tangible fixed assets22/27 | €0.5m | €0.5m | €0.6m | €0.3m | €0.3m | €0.3m | €0 | ▼ 100% |
| Other tangible fixed assets26 | - | - | - | €0.3m | €0.3m | €0.3m | €0 | ▼ 100% |
| Current assets29/58 | €0.1m | €0.1m | €0.2m | €0.1m | €0.2m | €0.2m | €0.2m | ▼ 3.3% |
| Amounts receivable within one year40/41 | €0.08m | €0.08m | €0.1m | €0.1m | €0.1m | €0.2m | €0.2m | ▲ 5.0% |
| Trade receivables40 | - | - | - | €0.08m | €0.1m | €0.2m | €0.2m | ▼ 3.1% |
| Other amounts receivable41 | - | - | - | €0.03m | €0.03m | €222 | €0.01m | ▲ 59× |
| Cash at bank and in hand54/58 | €0.06m | €0.05m | €0.02m | €0.01m | €0.03m | €0.03m | €0.02m | ▼ 40.7% |
| Deferred charges and accrued income490/1 | - | - | - | €0.02m | €0.02m | €0.002m | €97 | ▼ 93.8% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €0.7m | €0.7m | €0.7m | €0.5m | €0.5m | €0.5m | €0.2m | ▼ 65.2% |
| Equity10/15 | €0.3m | €0.2m | €0.09m | -€0.3m | -€0.4m | -€0.5m | -€0.8m | ▼ 66.8% |
| Contributions10/11 | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Capital10 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Issued capital100 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Reserves13 | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Non-distributable reserves130/1 | - | - | - | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Legal reserve130 | - | - | - | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Profit (loss) carried forward14 | €0.03m | -€0.06m | -€0.2m | -€0.6m | -€0.7m | -€0.8m | -€1.1m | ▼ 42.6% |
| Amounts payable17/49 | €0.4m | €0.4m | €0.6m | €0.8m | €0.9m | €1.0m | €1.0m | ▼ 0.8% |
| Amounts payable within one year42/48 | €0.4m | €0.4m | €0.6m | €0.8m | €0.8m | €1.0m | €1.0m | ▼ 0.2% |
| Trade debts44 | €0.2m | €0.08m | €0.2m | €0.1m | €0.08m | €0.2m | €0.2m | ▲ 11.1% |
| Suppliers440/4 | - | - | - | €0.1m | €0.08m | €0.2m | €0.2m | ▲ 11.1% |
| Taxes, remuneration and social security45 | - | - | - | €0.06m | €0.03m | €0.03m | €0.001m | ▼ 97.4% |
| Taxes450/3 | - | - | - | €0.02m | €0.007m | €98 | €0.001m | ▲ 617% |
| Remuneration and social security454/9 | - | - | - | €0.04m | €0.03m | €0.03m | €0 | ▼ 100% |
| Other amounts payable47/48 | - | - | - | €0.6m | €0.7m | €0.7m | €0.7m | ▲ 0.1% |
| Accrued charges and deferred income492/3 | - | - | - | €0.001m | €0.08m | €0.08m | €0.08m | ▼ 7.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €4,488 | -€86,249 | -€136,917 | -€390,191 | -€79,743 | -€131,307 | -€339,225 | ▼ 158% |
| + Depreciation and write-downs630 | €47,159 | €22,834 | €7,994 | - | - | - | - | - |
| Operating cash flow (approximation) | €51,648 | -€63,415 | -€128,923 | -€390,191 | -€79,743 | -€131,307 | -€339,225 | ▼ 158% |
| Investment in fixed assets (approximation) | - | -€25,259 | -€36,123 | €221,317 | €0 | €0 | €340,760 | - |
| Change in cash | - | -€8,024 | -€29,378 | -€11,646 | €14,101 | €5,786 | -€12,832 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 23 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2024 | micro format | 30-09-2025 | 2025-00519151 | |
| 31-12-2023 | micro format | 10-10-2024 | 2024-00505544 | |
| 31-12-2022 | micro format | 19-06-2024 | 2024-00143388 | |
| 31-12-2021 | full format | 26-07-2022 | 2022-20229722 | |
| 31-12-2020 | full format | 22-07-2021 | 2021-40900586 | |
| 31-12-2019 | full format | 08-09-2020 | 2020-51700318 | |
| 31-12-2018 | full format | 31-08-2019 | 2019-61700587 | |
| 31-12-2017 | full format | 31-08-2018 | 2018-59800281 | |
| 31-12-2016 | abbreviated format | 29-09-2017 | 2017-64900235 | |
| 31-12-2015 | abbreviated format | 28-10-2016 | 2016-66800007 |
Board & ownership
Directors
Day-to-day management 1
Permanent representatives 1
Owners and capital
Shareholders
1 ownerChain of control
- MAC TELECOM HOLDINGS
- MAC TELECOM
Owners 1
- MAC TELECOM HOLDINGSparentEquity €9,707 Loss of €3,970 in 2025 (loss of €1,421 in 2024) Checked score 65100%
Capital transactions
- MAC TELECOM HOLDINGS (BE 0479.792.583) all shares
Mandate history
- Board
- Day-to-day management
- began earlier
| Name | Functions and periods |
|---|---|
| SIGMA MT - DEMURRAGE DESK BV |
|
| Julien Kutter |
|
| SEWAN SAS |
|
Network & group
Companies at the same address
13 other companies- MAC TELECOM HOLDINGS Registered office · since 2024 0479792583
- De Ploeg Op De Root Registered office · since 2023 0799520916
- CEPPHAR - AcSEAlerator Registered office · since 2017 0678999307
- GRO PROJECT Registered office · since 2016 0651869791
- AgilePoint EMEA Registered office · since 2012 0843220703
- APPLIT Registered office · since 2011 0840280217
- SIGMA MT - Demurrage Desk Registered office · since 2008 0474295653
- ADVOCATENKANTOOR LIEVENS & LIEVENS & KARPENKO Registered office · since 2007 0861570925
- DB EVENTS Registered office · since 2007 0891225112
- AU BON PECHEUR Registered office · since 1998 0464411848
Connections & network
1 office holderThe network starts from the directors of MAC TELECOM. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
11-09
Gazette deed
Registered office moved from Sint-Lambrechts-Woluwe to OostendeDirector in office2 points ▸
- Registered-office move, Zeedijk 133,bus 3,8400 OOSTENDE
- Director in office, SIGMA MT-DEMURRAGE DESK BV (director)
08-03
Gazette deed
Appointment: SIGMA MT - DEMURRAGE DESK BV (managing director)Resignation: Grant Thornton Réviseurs d'Entreprises SCRL (statutory auditor)4 points ▸
- General meeting, 30-09-2022
- Director appointment, SIGMA MT - DEMURRAGE DESK BV (managing director)
- General meeting, 19-12-2022
- Auditor resignation, Grant Thornton Réviseurs d'Entreprises SCRL (statutory auditor)
17-02
Gazette deed
Resignations: Julien Kutter (director) and Sewan SAS (director)Permanent representative: Alexis de Goriainoff5 points ▸
- General meeting, 30-09-2022
- Director resignation, Julien Kutter (director)
- Director resignation, Sewan SAS (director)
- Permanent representative, Alexis de Goriainoff
- Other provision, “tous les pouvoirs reconnus en qualité d'administrateur, retrait des pouvoirs d'administrateur” (deed in French)
17-05
Gazette deed
Merger proposal: to be absorbed by MAC TELECOM HOLDINGSShareholding · Accounting effect · Approval15 points ▸
- Merger, “opération assimilée à la fusion par absorption, intégralité du patrimoine de la Société Absorbée à la Société Absorbante” (deed in French)
- MAC TELECOM HOLDINGS holds all the shares
- Merger, “opération assimilée à une fusion par absorption, société-mère à 100%” (deed in French)
- Other provision, “ensemble des actions de la Société Absorbée, constitution and amendment history and activity” (deed in French)
- Other provision, “Société Absorbée, constitution and amendment history and activity” (deed in French)
- Other provision, “operational status and workforce, services de télécommunications” (deed in French)
- Other provision, “sequence with subsequent simplified merger, immédiatement avant” (deed in French)
- Other provision, “assets requiring special transfer formality, conseils d'administration des entités appelées à fusionner” (deed in French)
- Accounting effect, 01-01-2022
- Approval, “annual accounts, assemblées générales ordinaires respectives” (deed in French)
- Other provision, “interim accounting statement, actionnaires” (deed in French)
- Other provision, “new shares in simplified merger, toutes les actions déjà entre les mains de la Société Absorbante” (deed in French)
- The act holds 3 more points.
Show earlier events
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
Codes under NACEBEL 2003
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 35384A0089/00Z028 | Flanders | 386 m² | 1 · 332 m² | 30.6 m · 9 |