MACFIN
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 05-06-2026 PDF
Turnover and EBIT margin are not published. The abbreviated format does not require them.
Investments
| Item | 2025 |
|---|---|
| Financial fixed assets | €793,000 |
Source: notes to the 2025 annual accounts (statement of fixed assets)
| Line | 2025 |
|---|---|
| Other operating charges640/8 | €525 |
| Gross operating margin9900 | -€5,128 |
| Operating profit (loss)9901 | -€5,652 |
| Financial income75/76B | €14,575 |
| Recurring financial income75 | €14,575 |
| Financial charges65/66B | €128 |
| Recurring financial charges65 | €128 |
| Profit (loss) for the period before taxes9903 | €8,795 |
| Income taxes67/77 | €2,170 |
| Profit (loss) for the period9904 | €6,625 |
| Profit (loss) for the period to be appropriated9905 | €6,625 |
| Line | 2025 | |
|---|---|---|
| Assets | ||
| Total assets20/58 | €1.2m | |
| Fixed assets21/28 | €0.5m | |
| Financial fixed assets28 | €0.5m | |
| Current assets29/58 | €0.7m | |
| Amounts receivable after more than one year29 | €0.7m | |
| Other amounts receivable291 | €0.7m | |
| Cash at bank and in hand54/58 | €0.001m | |
| Deferred charges and accrued income490/1 | €0.01m | |
| Equity and liabilities | ||
| Total equity and liabilities10/49 | €1.2m | |
| Equity10/15 | €0.1m | |
| Contributions10/11 | €0.1m | |
| Profit (loss) carried forward14 | €0.007m | |
| Amounts payable17/49 | €1.1m | |
| Amounts payable within one year42/48 | €1.1m | |
| Trade debts44 | €351 | |
| Suppliers440/4 | €351 | |
| Taxes, remuneration and social security45 | €0.002m | |
| Taxes450/3 | €0.002m | |
| Other amounts payable47/48 | €1.1m | |
| Line | 2025 |
|---|---|
| Profit (loss) for the period9904 | €6,625 |
| Operating cash flow (approximation) | €6,625 |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 1,514 companies had the same profile as MACFIN has now. Two years later, 95.8% were still going and 2.4% had gone bankrupt.
- Small
- 2 to 5 years old
- solvency under 10%
- a profit under 5% of the balance sheet
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of MACFIN itself: 0.7% within 12 months.
Test of the method
The method was tested on the 497,446 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 1,514 companies, not a prediction for MACFIN. 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.
Filings with the National Bank (1)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 05-06-2026 | 2026-00140352 |