MAFACT
ActiveSummary
MAFACT has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-147k) and a net result of €27k. Equity is growing by ~6.5% per year across the filed fiscal years. Its solvency ranks better than 5% of 11389 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency0=
Growth78=
Track record100
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity tight (current ratio 1.21 against 0.69 in 2024; short-term debt: 79.1% and cash: 76.2% of total assets), and equity is negative.
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
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 2025Solvency, return and age of the figures
Solvency
-930.7%
Return on assets
173.6%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 11389 sector peers (2025).
NBB · sector comparisonPosition among 11389 sector peers
Solvency
better than 5%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 02-06-2026, 59 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
59 d early
2024
59 d early
2023
61 d early
2022
49 d early
2021
54 d early
2020
54 d early
2019
66 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, micro schema
Equity
€-147k▲ 15.7%
2024 · €-175k
2018: €-254k
2019: €-245k▲ +3.4% vs 2018
2020: €-266k▼ -8.3% vs 2019lowest in 8 years
2021: €-258k▲ +2.9% vs 2020
2022: €-240k▲ +6.8% vs 2021
2023: €-212k▲ +12.0% vs 2022
2024: €-175k▲ +17.5% vs 2023
2025: €-147k▲ +15.7% vs 2024highest in 8 years
2018 → 2025
Total assets
€16k▼ 48.6%
2024 · €31k
2018: €70k
2019: €65k▼ -6.6% vs 2018
2020: €80k▲ +22.8% vs 2019highest in 8 years
2021: €55k▼ -31.9% vs 2020
2022: €34k▼ -37.2% vs 2021
2023: €42k▲ +21.4% vs 2022
2024: €31k▼ -26.1% vs 2023
2025: €16k▼ -48.6% vs 2024lowest in 8 years
2018 → 2025
Net result
€27k▼ 25.9%
2024 · €37k
2018: €17k
2019: €9k▼ -49.5% vs 2018
2020: €-20k▼ -340% vs 2019lowest in 8 years
2021: €8k▲ +138% vs 2020
2022: €17k▲ +124% vs 2021
2023: €29k▲ +64.7% vs 2022
2024: €37k▲ +28.6% vs 2023highest in 8 years
2025: €27k▼ -25.9% vs 2024
2018 → 2025
Working capital
€3k
2024 · €-11k
2018: €-35k
2019: €-50k▼ -42.2% vs 2018
2020: €-39k▲ +20.8% vs 2019
2021: €-70k▼ -78.4% vs 2020lowest in 8 years
2022: €-48k▲ +31.8% vs 2021
2023: €-27k▲ +42.6% vs 2022
2024: €-11k▲ +59.1% vs 2023
2025: €3k▲ +123% 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
Equity€-258k-€-240k▲ 6.8%€-212k▲ 12.0%€-175k▲ 17.5%€-147k▲ 15.7%
2021: €-258klowest in 5 years
2022: €-240k▲ +6.8% vs 2021
2023: €-212k▲ +12.0% vs 2022
2024: €-175k▲ +17.5% vs 2023
2025: €-147k▲ +15.7% vs 2024highest in 5 years
Operating result€9k-€47k▲ 400%€35k▼ 24.5%€57k▲ 62.4%€31k▼ 45.2%
2021: €9klowest in 5 years
2022: €47k▲ +400% vs 2021
2023: €35k▼ -24.5% vs 2022
2024: €57k▲ +62.4% vs 2023highest in 5 years
2025: €31k▼ -45.2% vs 2024
Net result€8k-€17k▲ 124%€29k▲ 64.7%€37k▲ 28.6%€27k▼ 25.9%
2021: €8klowest in 5 years
2022: €17k▲ +124% vs 2021
2023: €29k▲ +64.7% vs 2022
2024: €37k▲ +28.6% vs 2023highest in 5 years
2025: €27k▼ -25.9% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 45% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €16k
Fixed assets
€683 ▼ 88.1%
Current assets
€15k ▼ 39.6%
Key figures and ratios
EBITDA
€36k▼
2024 · €64k
Cash flow
€32k▼
2024 · €44k
Solvency
-930.7%▼
2024 · -567.6%
Current ratio
1.21▲
2024 · 0.69
Debt to equity
-1.11▲
2024 · -1.18
ROA
173.6%▲
2024 · 120.4%
Interest coverage
45.06▼
2024 · 46.86
Debt
€163k▼
2024 · €205k
Debt ≤ 1 year
€13k▼
2024 · €36k
Debt > 1 year
€129k▼
2024 · €147k
Income taxes
€3k▼
2024 · €19k
Staff costs
€-727▼
2024 · €48k
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 · 41 lines
Balance sheet
Code20242025
Assets
Total assets20/58€31k€16k▼
Fixed assets21/28€6k€683▼
Tangible fixed assets22/27€6k€683▼
Plant, machinery and equipment23€1k€683▼
Furniture and vehicles24€4k-
Current assets29/58€25k€15k▼
Amounts receivable within one year40/41€10k€1k▼
Trade receivables40€10k€1k▼
Cash at bank and in hand54/58€13k€12k▼
Deferred charges and accrued income490/1€2k€2k▼
Equity and liabilities
Total equity and liabilities10/49€31k€16k▼
Equity10/15€-175k€-147k▲
Contributions10/11€209k€209k=
Profit (loss) carried forward14€-383k€-356k▲
Amounts payable17/49€205k€163k▼
Amounts payable after more than one year17€147k€129k▼
Other amounts payable178/9€147k€129k▼
Amounts payable within one year42/48€36k€13k▼
Current portion of amounts payable after more than one year42€5k-
Trade debts44€12k€6k▼
Suppliers440/4€12k€6k▼
Taxes, remuneration and social security45€19k€5k▼
Taxes450/3€10k€5k▼
Remuneration and social security454/9€9k-
Other amounts payable47/48-€1k
Accrued charges and deferred income492/3€22k€21k▼
Income statement
Code20242025
Remuneration, social security and pensions62€48k€-727▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€7k€5k▼
Other operating charges640/8€998€2k▲
Gross operating margin9900€113k€38k▼
Operating profit (loss)9901€57k€31k▼
Financial income75/76B€10€0▼
Recurring financial income75€10€0▼
Financial charges65/66B€1k€807▼
Recurring financial charges65€1k€807▼
Profit (loss) for the period before taxes9903€56k€31k▼
Income taxes67/77€19k€3k▼
Profit (loss) for the period9904€37k€27k▼
Profit (loss) for the period to be appropriated9905€37k€27k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-383k€-356k▲
Profit (loss) brought forward from the previous period14P€-420k€-383k▲
The notes to these accounts (8 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €134k | €86k | €94k | €48k | €-727 | ▼ 102% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6k | €10k | €6k | €7k | €5k | ▼ 23.7% |
| Other operating charges640/8 | €2k | €870 | €1k | €998 | €2k | ▲ 132% |
| Gross operating margin9900 | €152k | €143k | €136k | €113k | €38k | ▼ 66.3% |
| Operating profit (loss)9901 | €9k | €47k | €35k | €57k | €31k | ▼ 45.2% |
| Financial income75/76B | - | €1 | €3 | €10 | €0 | ▼ 97.1% |
| Recurring financial income75 | - | €1 | €3 | €10 | €0 | ▼ 97.1% |
| Financial charges65/66B | €1k | €29k | €2k | €1k | €807 | ▼ 40.7% |
| Recurring financial charges65 | €1k | €29k | €2k | €1k | €807 | ▼ 40.7% |
| Profit (loss) for the period before taxes9903 | €8k | €18k | €34k | €56k | €31k | ▼ 45.3% |
| Income taxes67/77 | €74 | €474 | €5k | €19k | €3k | ▼ 83.6% |
| Profit (loss) for the period9904 | €8k | €17k | €29k | €37k | €27k | ▼ 25.9% |
| Profit (loss) for the period to be appropriated9905 | €8k | €17k | €29k | €37k | €27k | ▼ 25.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €55k | €34k | €42k | €31k | €16k | ▼ 48.6% |
| Fixed assets21/28 | €28k | €16k | €12k | €6k | €683 | ▼ 88.1% |
| Tangible fixed assets22/27 | €28k | €16k | €12k | €6k | €683 | ▼ 88.1% |
| Plant, machinery and equipment23 | €952 | - | €2k | €1k | €683 | ▼ 50.2% |
| Furniture and vehicles24 | €27k | €16k | €10k | €4k | - | - |
| Current assets29/58 | €27k | €18k | €29k | €25k | €15k | ▼ 39.6% |
| Amounts receivable within one year40/41 | €15k | €11k | €5k | €10k | €1k | ▼ 85.2% |
| Trade receivables40 | €15k | €11k | €5k | €10k | €1k | ▼ 85.2% |
| Other amounts receivable41 | - | €39 | - | - | - | - |
| Cash at bank and in hand54/58 | €8k | €2k | €21k | €13k | €12k | ▼ 10.1% |
| Deferred charges and accrued income490/1 | €4k | €5k | €3k | €2k | €2k | ▼ 5.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €55k | €34k | €42k | €31k | €16k | ▼ 48.6% |
| Equity10/15 | €-258k | €-240k | €-212k | €-175k | €-147k | ▲ 15.7% |
| Contributions10/11 | €205k | €205k | €209k | €209k | €209k | = |
| Capital10 | €205k | €205k | - | - | - | - |
| Issued capital100 | €205k | €205k | - | - | - | - |
| Reserves13 | €4k | €4k | - | - | - | - |
| Non-distributable reserves130/1 | €4k | €4k | - | - | - | - |
| Legal reserve130 | €4k | €4k | - | - | - | - |
| Profit (loss) carried forward14 | €-466k | €-449k | €-420k | €-383k | €-356k | ▲ 7.2% |
| Amounts payable17/49 | €312k | €275k | €253k | €205k | €163k | ▼ 20.6% |
| Amounts payable after more than one year17 | €162k | €174k | €174k | €147k | €129k | ▼ 11.9% |
| Financial debts170/4 | €5k | - | - | - | - | - |
| Other amounts payable178/9 | €157k | €174k | €174k | €147k | €129k | ▼ 11.9% |
| Amounts payable within one year42/48 | €97k | €66k | €57k | €36k | €13k | ▼ 65.5% |
| Current portion of amounts payable after more than one year42 | €21k | €24k | €15k | €5k | - | - |
| Financial debts43 | €87 | - | €78 | - | - | - |
| Credit institutions430/8 | €87 | - | €78 | - | - | - |
| Trade debts44 | €57k | €19k | €20k | €12k | €6k | ▼ 53.1% |
| Suppliers440/4 | €57k | €19k | €20k | €12k | €6k | ▼ 53.1% |
| Advances received on contracts in progress46 | €42 | - | - | - | - | - |
| Taxes, remuneration and social security45 | €19k | €23k | €22k | €19k | €5k | ▼ 70.9% |
| Taxes450/3 | €12k | €13k | €10k | €10k | €5k | ▼ 45.6% |
| Remuneration and social security454/9 | €7k | €10k | €12k | €9k | - | - |
| Other amounts payable47/48 | - | - | - | - | €1k | - |
| Accrued charges and deferred income492/3 | €53k | €35k | €23k | €22k | €21k | ▼ 5.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €8k | €17k | €29k | €37k | €27k | ▼ 25.9% |
| + Depreciation and write-downs630 | €6k | €10k | €6k | €7k | €5k | ▼ 23.7% |
| Operating cash flow (approximation) | €14k | €27k | €35k | €44k | €32k | ▼ 25.5% |
| Investment in fixed assets (approximation) | - | €1k | €-2k | €0 | €0 | - |
| Change in cash | - | €-6k | €19k | €-7k | €-1k | ▲ 81.6% |
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
02-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
02-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2018net €37k ▲28.6%
Operating result €57k, net result €37k, both a record.
31-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
12-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
07-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €8k
Net result €8k after one loss-making year.
07-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Weakest financial yearnet €-20k
Net result drops to €-20k, the lowest in the series; recovery starts the following year.
26-05
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
28-05
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
30-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
29-05
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 9 acts read
About the unread acts
We know of 9 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
9 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 1999
Ground area
322 m²
Building footprint
123 m²
Volume, LiDAR
1,017 m³
Parcel 21818E0208/00Y002, Brussels · tallest building 12.4 m, ±3 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
MAFACT
since 19992.231.382.951
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21818E0208/00Y002 | Brussels | 322 m² | 1 · 123 m² | 12.4 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.
Similar companies · same sector and region
Acerta Services
BE 0453.045.428
Brussel
BESHIELD
BE 1004.594.059
Brussel
ITANCIA BENELUX
BE 0534.751.201
Brussel
Kannegieter
BE 0455.755.884
Brussel
MEGATECH INFORMATIQUE
BE 0459.295.097
Brussel
This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 2,121 companies in sector 46500 we hold annual accounts for 1,403. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded27-10-1999
Fiscal year end31-12
Activities, NACEBEL 2025
46500Wholesale of information and communication equipment
61100Wired, wireless and satellite telecommunications
63100Computing infrastructure, data processing, hosting and related activities
Contact
Scores and ratios are computed by Checked and are not a credit decision.