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 (-€147,113) and a net result of €27,447. Equity is growing by ~6.5% per year across the filed fiscal years. Its solvency ranks better than 5% of 11472 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.
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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 11472 sector peers (2025).
NBB · sector comparisonPosition among 11472 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 →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 57 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
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
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
-€147,113▲ 15.7%
2024 · -€174,560
Total assets
€15,806▼ 48.6%
2024 · €30,755
Net result
€27,447▼ 25.9%
2024 · €37,026
Working capital
€2,617
2024 · -€11,226
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 46, Wholesale trade, 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
Line20212022202320242025
Operating result€9,310€46,541▲ 400%€35,153▼ 24.5%€57,102▲ 62.4%€31,316▼ 45.2%
Net result€7,806within the sector's middle half€17,486within the sector's middle half▲ 124%€28,791above the sector's middle half▲ 64.7%€37,026above the sector's middle half▲ 28.6%€27,447within the sector's middle half▼ 25.9%
Equity-€257,864below the sector's middle half▲ 2.9%-€240,378below the sector's middle half▲ 6.8%-€211,587below the sector's middle half▲ 12.0%-€174,560below the sector's middle half▲ 17.5%-€147,113below the sector's middle half▲ 15.7%
Total assets€54,592below the sector's middle half▼ 31.9%€34,278below the sector's middle half▼ 37.2%€41,608below the sector's middle half▲ 21.4%€30,755below the sector's middle half▼ 26.1%€15,806below the sector's middle half▼ 48.6%
Debt€312,456▼ 9.7%€274,656▼ 12.1%€253,195▼ 7.8%€205,316▼ 18.9%€162,920▼ 20.6%
Working capital-€70,052▼ 78.4%-€47,809▲ 31.8%-€27,446▲ 42.6%-€11,226▲ 59.1%€2,617
Solvency-472.3%below the sector's middle half▼ 140.9pp-701.3%below the sector's middle half▼ 228.9pp-508.5%below the sector's middle half▲ 192.7pp-567.6%below the sector's middle half▼ 59.1pp-930.7%below the sector's middle half▼ 363.1pp
Staff (FTE)2=1▼ 50.0%1=1=
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, 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 falls in 2025; 2025 is 45% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €15,806
Fixed assets
€683 ▼ 88.1%
Current assets
€15,124 ▼ 39.6%
Key figures and ratios
EBITDA
€36,361▼
2024 · €63,714
Cash flow
€32,493▼
2024 · €43,639
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 ≤ 1 year
€12,506▼
2024 · €36,253
Debt > 1 year
€129,326▼
2024 · €146,874
Income taxes
€3,062▼
2024 · €18,726
Staff costs
-€727▼
2024 · €47,952
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,798 companies that looked in July 2024 the way this one looks now, 2.5% went bankrupt within 24 months and 91% are still going.
- Micro
- 20 years or older
- negative equity
- a profit of 5% of the balance sheet or more
2.5%
went bankrupt
5.3%
stopped otherwise
91%
still going
A further 0.8% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.2% 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 3,798 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €134,158 | €85,772 | €93,680 | €47,952 | -€727 | ▼ 102% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,428 | €9,853 | €6,001 | €6,613 | €5,046 | ▼ 23.7% |
| Other operating charges640/8 | €2,192 | €870 | €1,120 | €998 | €2,319 | ▲ 132% |
| Gross operating margin9900 | €152,088 | €143,036 | €135,953 | €112,665 | €37,954 | ▼ 66.3% |
| Operating profit (loss)9901 | €9,310 | €46,541 | €35,153 | €57,102 | €31,316 | ▼ 45.2% |
| Financial income75/76B | - | €1 | €3 | €10 | €0 | ▼ 97.1% |
| Recurring financial income75 | - | €1 | €3 | €10 | €0 | ▼ 97.1% |
| Financial charges65/66B | €1,430 | €28,582 | €1,516 | €1,360 | €807 | ▼ 40.7% |
| Recurring financial charges65 | €1,430 | €28,582 | €1,516 | €1,360 | €807 | ▼ 40.7% |
| Profit (loss) for the period before taxes9903 | €7,880 | €17,960 | €33,641 | €55,752 | €30,509 | ▼ 45.3% |
| Income taxes67/77 | €74 | €474 | €4,849 | €18,726 | €3,062 | ▼ 83.6% |
| Profit (loss) for the period9904 | €7,806 | €17,486 | €28,791 | €37,026 | €27,447 | ▼ 25.9% |
| Profit (loss) for the period to be appropriated9905 | €7,806 | €17,486 | €28,791 | €37,026 | €27,447 | ▼ 25.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €54,592 | €34,278 | €41,608 | €30,755 | €15,806 | ▼ 48.6% |
| Fixed assets21/28 | €27,524 | €16,277 | €12,341 | €5,728 | €683 | ▼ 88.1% |
| Tangible fixed assets22/27 | €27,524 | €16,277 | €12,341 | €5,728 | €683 | ▼ 88.1% |
| Plant, machinery and equipment23 | €952 | - | €2,059 | €1,371 | €683 | ▼ 50.2% |
| Furniture and vehicles24 | €26,572 | €16,277 | €10,282 | €4,358 | - | - |
| Current assets29/58 | €27,068 | €18,001 | €29,267 | €25,027 | €15,124 | ▼ 39.6% |
| Amounts receivable within one year40/41 | €15,423 | €10,980 | €5,323 | €9,919 | €1,468 | ▼ 85.2% |
| Trade receivables40 | €15,423 | €10,941 | €5,323 | €9,919 | €1,468 | ▼ 85.2% |
| Other amounts receivable41 | - | €39 | - | - | - | - |
| Cash at bank and in hand54/58 | €8,040 | €1,943 | €20,774 | €13,396 | €12,039 | ▼ 10.1% |
| Deferred charges and accrued income490/1 | €3,605 | €5,078 | €3,170 | €1,711 | €1,616 | ▼ 5.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €54,592 | €34,278 | €41,608 | €30,755 | €15,806 | ▼ 48.6% |
| Equity10/15 | -€257,864 | -€240,378 | -€211,587 | -€174,560 | -€147,113 | ▲ 15.7% |
| Contributions10/11 | €205,000 | €205,000 | €208,573 | €208,573 | €208,573 | = |
| Capital10 | €205,000 | €205,000 | - | - | - | - |
| Issued capital100 | €205,000 | €205,000 | - | - | - | - |
| Reserves13 | €3,573 | €3,573 | - | - | - | - |
| Non-distributable reserves130/1 | €3,573 | €3,573 | - | - | - | - |
| Legal reserve130 | €3,573 | €3,573 | - | - | - | - |
| Profit (loss) carried forward14 | -€466,437 | -€448,951 | -€420,160 | -€383,133 | -€355,686 | ▲ 7.2% |
| Amounts payable17/49 | €312,456 | €274,656 | €253,195 | €205,316 | €162,920 | ▼ 20.6% |
| Amounts payable after more than one year17 | €162,214 | €173,897 | €173,897 | €146,874 | €129,326 | ▼ 11.9% |
| Financial debts170/4 | €4,853 | - | - | - | - | - |
| Other amounts payable178/9 | €157,361 | €173,897 | €173,897 | €146,874 | €129,326 | ▼ 11.9% |
| Amounts payable within one year42/48 | €97,120 | €65,810 | €56,714 | €36,253 | €12,506 | ▼ 65.5% |
| Current portion of amounts payable after more than one year42 | €21,383 | €23,889 | €15,081 | €5,082 | - | - |
| Financial debts43 | €87 | - | €78 | - | - | - |
| Credit institutions430/8 | €87 | - | €78 | - | - | - |
| Trade debts44 | €56,965 | €19,326 | €19,620 | €12,376 | €5,804 | ▼ 53.1% |
| Suppliers440/4 | €56,965 | €19,326 | €19,620 | €12,376 | €5,804 | ▼ 53.1% |
| Advances received on contracts in progress46 | €42 | - | - | - | - | - |
| Taxes, remuneration and social security45 | €18,643 | €22,595 | €21,935 | €18,795 | €5,467 | ▼ 70.9% |
| Taxes450/3 | €11,620 | €12,789 | €10,384 | €10,042 | €5,467 | ▼ 45.6% |
| Remuneration and social security454/9 | €7,023 | €9,806 | €11,551 | €8,754 | - | - |
| Other amounts payable47/48 | - | - | - | - | €1,236 | - |
| Accrued charges and deferred income492/3 | €53,122 | €34,949 | €22,584 | €22,189 | €21,087 | ▼ 5.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €7,806 | €17,486 | €28,791 | €37,026 | €27,447 | ▼ 25.9% |
| + Depreciation and write-downs630 | €6,428 | €9,853 | €6,001 | €6,613 | €5,046 | ▼ 23.7% |
| Operating cash flow (approximation) | €14,234 | €27,339 | €34,792 | €43,639 | €32,493 | ▼ 25.5% |
| Investment in fixed assets (approximation) | - | €1,394 | -€2,064 | €0 | €0 | - |
| Change in cash | - | -€6,097 | €18,832 | -€7,378 | -€1,357 | ▲ 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 €37,026 ▲28.6%
Operating result €57,102, net result €37,026, 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 €7,806
Net result €7,806 after one loss-making year.
07-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Weakest financial yearnet -€20,453
Net result drops to -€20,453, 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.
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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 2,119 companies in sector 46500 we hold annual accounts for 1,408. 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
E-invoicing
Reachable via Peppol
Peppol ID
0208:0467162391
Also
9925:BE0467162391
Registered
29-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.