MAG-REEN

Active

Public limited companyfounded 200521 yrs activeLouizalaan 343, 1050 Elsene, BelgiumKBO/BCE: BE 0873.833.012

Summary

MAG-REEN has been active since 2005 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €697,937 and a net result of €83,451. Equity is growing by ~24.7% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 1.1% (low).

Risk analysisWatch Report Compare

MAG-REENActiveChecked score 51/100

Risk analysis Report Compare

Checked score

Score 2025

51 / 100

Fair

Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability41▼-1

Solvency35▲+1

Growth78=

Track record100

Bankruptcy probability, 12 months

1.1% Low

0%0.5%1.5%4%10%≥ 25%

Credit up to €35,000 at 30 days acceptable

Liquidity ample (current ratio 5.99 against 6.57 in 2024; short-term debt: 0% and cash: 0.1% of total assets), but 89.8% of the assets are financed with debt.

Credit check for your own amount and term

Show the recommended maximum : and see how the verdict changes with amount, term and advance.

Signals

Six signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

No NACE activity registered

No NACE activity is registered in the KBO, which is more common among companies that later fail.

KBO · activities

Higher-failure-rate region

In this region companies fail more often than in the rest of the country.

KBO · registered office

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

Annual accounts: healthy financial profile

The latest annual accounts show a healthy profile in solvency, result and liquidity.

NBB · annual accounts 2025

Solvency, return and age of the figures

Solvency

10.2%

Return on assets

1.2%

Age of the figures

9 mo

Lower-risk legal form

Companies with this legal form statistically fail less often than a BV.

KBO · legal form

Filed after the deadline

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.

NBB · 10 filings

Deviation from the deadline

2025

31 d late

2024

6 d early

2023

28 d late

2022

192 d late

2021

30 d late

2020

129 d late

2019

47 d late

← before the deadline after the deadline →

tick = median of all Belgian filings

This company filed its last 7 accounts on average 64 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.

Checked, nothing found (2)

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. Usually files around 30 August (4 of the last 5 filed years within 36 days of that day).

Companies Code · seven months

Position in the running window

01-10-2026 today31-12-2026 close31-07-2027 deadline

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

History

MAG-REEN was incorporated on 17 May 2005.¹ Total assets went from EUR 6.4 million in 2018 to EUR 6.9 million in 2025.²

Go further with this company

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Investigating this company? Keep it with today's facts in a case file.

Financials · fiscal year 2025, full schema

Turnover

Not included in this filing

EBIT margin

Not included in this filing

Net result

€83,451▼ 24.2%

2024 · €110,118

Working capital

€7,697▼ 50.7%

2024 · €15,623

Trend over the years

In euros Operating result Net result Equity Total assets Debt Working capital

In euros

No line ticked in this group.

Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.

Every figure with its change against the fiscal year before

favourable unfavourable

Line20212022202320242025

Operating result-€21,093▼ 104%-€17,100▲ 18.9%-€8,479▲ 50.4%-€19,555▼ 131%-€16,757▲ 14.3%

Net result€100,289▼ 48.9%€122,299▲ 21.9%€8,658▼ 92.9%€110,118▲ 1,172%€83,451▼ 24.2%

Equity€373,412▲ 36.7%€495,711▲ 32.8%€504,369▲ 1.7%€614,487▲ 21.8%€697,937▲ 13.6%

Total assets€6.7m▼ 1.3%€6.7m▲ 0.2%€6.7m▲ 0.3%€6.7m▼ 0.4%€6.9m▲ 2.1%

Debt€6.3m▼ 2.9%€6.2m▼ 1.8%€6.2m▲ 0.2%€6.1m▼ 2.2%€6.2m▲ 0.9%

Working capital-€680€2,971€4,444▲ 49.6%€15,623▲ 252%€7,697▼ 50.7%

Result per fiscal year

Operating resultNet result

The operating result stays negative: a loss of €16,757 in 2025 against €19,555 in 2024; the loss shrinks.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €6.9m

99.9%

Fixed assets €6.8m ▲ 2.2%

Current assets €9,241 ▼ 49.9%

Equity and liabilities €6.9m

10%

89.8%

Equity €697,937 ▲ 13.6%

Debt €6.2m ▲ 0.9%

Debt's share of the balance-sheet total falls from 90.8% to 89.8%. Equity and debt are higher.

Key figures and ratios

2025 value · change against 2024

Current ratio

5.99▼

2024 · 6.57

Debt to equity

8.82▼

2024 · 9.92

ROE

12.0%▼

2024 · 17.9%

ROA

1.2%▼

2024 · 1.6%

Debt ≤ 1 year

€1,544▼

2024 · €2,806

Debt > 1 year

€6.2m▲

2024 · €6.1m

Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Annual accounts

OverviewIncome statement Balance sheet Cash flow

Filed annual accounts As filed with the NBB · 2025 against 2024 · 32 lines

Balance sheet Code20242025

Assets

Total assets20/58€6.7m€6.9m▲

Fixed assets21/28€6.7m€6.8m▲

Financial fixed assets28€6.7m€6.8m▲

Current assets29/58€18,429€9,241▼

Amounts receivable within one year40/41€6,242-

Other amounts receivable41€6,242-

Cash at bank and in hand54/58€12,186€9,241▼

Equity and liabilities

Total equity and liabilities10/49€6.7m€6.9m▲

Equity10/15€614,487€697,937▲

Contributions10/11€2.6m€2.6m=

Capital10€2.6m€2.6m=

Issued capital100€2.6m€2.6m=

Profit (loss) carried forward14-€2.0m-€1.9m▲

Amounts payable17/49€6.1m€6.2m▲

Amounts payable after more than one year17€6.1m€6.2m▲

Financial debts170/4€6.1m€6.2m▲

Amounts payable within one year42/48€2,806€1,544▼

Trade debts44€1,281€1,544▲

Suppliers440/4€1,281€1,544▲

Other amounts payable47/48€1,525-

Income statement Code20242025

Other operating charges640/8€2,038€1,104▼

Gross operating margin9900-€17,516-€15,652▲

Operating profit (loss)9901-€19,555-€16,757▲

Financial income75/76B€441,000€411,602▼

Recurring financial income75€441,000€411,602▼

Financial charges65/66B€311,327€311,395=

Recurring financial charges65€311,327€311,395=

Profit (loss) for the period before taxes9903€110,118€83,451▼

Profit (loss) for the period9904€110,118€83,451▼

Profit (loss) for the period to be appropriated9905€110,118€83,451▼

Appropriation of the result

Profit (loss) to be appropriated9906-€2.0m-€1.9m▲

Profit (loss) brought forward from the previous period14P-€2.1m-€2.0m▲

The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line	2021	2022	2023	2024	2025	Change
Other operating charges640/8	€868	€705	€324	€2,038	€1,104	▼ 45.8%
Gross operating margin9900	-€20,225	-€16,395	-€8,155	-€17,516	-€15,652	▲ 10.6%
Operating profit (loss)9901	-€21,093	-€17,100	-€8,479	-€19,555	-€16,757	▲ 14.3%
Financial income75/76B	€450,800	€450,800	€328,300	€441,000	€411,602	▼ 6.7%
Recurring financial income75	€450,800	€450,800	€328,300	€441,000	€411,602	▼ 6.7%
Financial charges65/66B	€329,418	€311,401	€311,163	€311,327	€311,395	=
Recurring financial charges65	€329,418	€311,401	€311,163	€311,327	€311,395	=
Profit (loss) for the period before taxes9903	€100,289	€122,299	€8,658	€110,118	€83,451	▼ 24.2%
Profit (loss) for the period9904	€100,289	€122,299	€8,658	€110,118	€83,451	▼ 24.2%
Profit (loss) for the period to be appropriated9905	€100,289	€122,299	€8,658	€110,118	€83,451	▼ 24.2%

Line	2021	2022	2023	2024	2025	Change
Assets
Total assets20/58	€6.7m	€6.7m	€6.7m	€6.7m	€6.9m	▲ 2.1%
Fixed assets21/28	€6.7m	€6.7m	€6.7m	€6.7m	€6.8m	▲ 2.2%
Financial fixed assets28	€6.7m	€6.7m	€6.7m	€6.7m	€6.8m	▲ 2.2%
Current assets29/58	€7,520	€17,828	€17,554	€18,429	€9,241	▼ 49.9%
Amounts receivable within one year40/41	€6,242	€6,243	€6,242	€6,242	-	-
Other amounts receivable41	€6,242	€6,243	€6,242	€6,242	-	-
Cash at bank and in hand54/58	€1,277	€11,585	€11,312	€12,186	€9,241	▼ 24.2%
Equity and liabilities
Total equity and liabilities10/49	€6.7m	€6.7m	€6.7m	€6.7m	€6.9m	▲ 2.1%
Equity10/15	€373,412	€495,711	€504,369	€614,487	€697,937	▲ 13.6%
Contributions10/11	€2.6m	€2.6m	€2.6m	€2.6m	€2.6m	=
Capital10	€2.6m	€2.6m	€2.6m	€2.6m	€2.6m	=
Issued capital100	€2.6m	€2.6m	€2.6m	€2.6m	€2.6m	=
Profit (loss) carried forward14	-€2.2m	-€2.1m	-€2.1m	-€2.0m	-€1.9m	▲ 4.2%
Amounts payable17/49	€6.3m	€6.2m	€6.2m	€6.1m	€6.2m	▲ 0.9%
Amounts payable after more than one year17	€6.3m	€6.2m	€6.2m	€6.1m	€6.2m	▲ 0.9%
Financial debts170/4	€6.3m	€6.2m	€6.2m	€6.1m	€6.2m	▲ 0.9%
Amounts payable within one year42/48	€8,200	€14,857	€13,110	€2,806	€1,544	▼ 45.0%
Trade debts44	€8,200	€14,857	€13,110	€1,281	€1,544	▲ 20.6%
Suppliers440/4	€8,200	€14,857	€13,110	€1,281	€1,544	▲ 20.6%
Other amounts payable47/48	-	-	-	€1,525	-	-

Line	2021	2022	2023	2024	2025	Change
Profit (loss) for the period9904	€100,289	€122,299	€8,658	€110,118	€83,451	▼ 24.2%
Operating cash flow (approximation)	€100,289	€122,299	€8,658	€110,118	€83,451	▼ 24.2%
Investment in fixed assets (approximation)	-	-€0	-€18,300	€28,100	-€147,900	▼ 626%
Change in cash	-	€10,308	-€273	€874	-€2,945	▼ 437%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

Download as CSV

Timeline · acts, filings and financial milestones

All 15Financial 5Filings 10

Next filing, fiscal year 2026, expected by 31-07-2027

2026

31-08

NBB filing Annual accounts filed

fiscal year 2025 · full schema · 31 days late

2025

25-07

NBB filing Annual accounts filed

fiscal year 2024 · full schema

2024

31-12

Financial Liquidity times 5current ratio 6.57

Current ratio from 1.34 to 6.57; short-term debt falls from €13,110 to €2,806.

28-08

NBB filing Annual accounts filed

fiscal year 2023 · full schema · 28 days late

08-02

NBB filing Annual accounts filed

fiscal year 2022 · full schema · 192 days late

2023

31-12

Financial Equity above €500,000Eq €504,369 ▲1.7%

5 profitable years in a row build equity to €504,369.

2022

30-08

NBB filing Annual accounts filed

fiscal year 2021 · full schema · 30 days late

2021

07-12

NBB filing Annual accounts filed

fiscal year 2020 · full schema · 129 days late

2020

31-12

Financial Liquidity times 16current ratio 21.23

Current ratio from 1.32 to 21.23; short-term debt falls from €9,442 to €7,194.

31-12

Financial Equity above €200,000Eq €273,123 ▲255%

2 profitable years in a row build equity to €273,123.

16-09

NBB filing Annual accounts filed

fiscal year 2019 · full schema · 47 days late

2019

31-12

Financial Back to profitnet €222,040

Net result €222,040 after one loss-making year.

Show earlier events

27-03

NBB filing Annual accounts filed

fiscal year 2018 · full schema

2018

14-08

NBB filing Annual accounts filed

fiscal year 2017 · full schema · 14 days late

2017

31-08

NBB filing Annual accounts filed

fiscal year 2016 · abbreviated schema · 31 days late

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

0 of 16 acts read

About the unread acts

We know of 16 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

No directors read yet: 0 of 16 Gazette acts processed. See the function holders in the CBE →

Location & real-estate footprint

Registered office, Elsene

exact location from the address register On OpenStreetMap

Ground area

290 m²

Building footprint

144 m²

Volume, LiDAR

2,471 m³

Parcel 21807G0215/00D000, Brussels · tallest building 37.8 m, ±6 floors. Linked by address, not a title deed.

29 companies at this address See who is registered here

1 parcel

Brussels 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
21807G0215/00D000	Brussels	290 m²	1 · 144 m²	37.8 m · 6 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.

Structure & network

Owners and holdings

1 owner · 1 holding

Owners 1

LUXEMBOURG CORPORATION INVEST IVLUparent

Sourceown accounts 2025

100%

Holdings 1

IMMO COMMERCEsubsidiary

Sourceown accounts 2025 accounts IMMO COMMERCE 2025
Equity €341,544Result €458,341

98%

According to the 2025 annual accounts of MAG-REEN and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.

Connections & network

No current directors or connected companies found in the register.

Company details

Identification

Legal formPublic limited company

Founded17-05-2005

Fiscal year end31-12

E-invoicing

Not found in the Peppol register

No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.

What can you do?

Try sending from your invoicing software; if that fails, ask the customer whether they already receive via Peppol.

If the customer is not ready yet, you may send the invoice another way, for example as a PDF; if electronically, with their agreement on a secure alternative. That invoice is valid; the customer risks a penalty. FPS Finance

If you follow this company, Checked tells you the day it appears in the Peppol register.

Scores and ratios are computed by Checked and are not a credit decision.