MAGA BELGIUM
ActiveMAGA BELGIUM has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-517k) and a net result of €-135k. Equity is shrinking by ~68.8% per year across the filed fiscal years. Its solvency ranks better than 5% of 1027 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2025
29
/ 100
Weak
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability6=
Solvency0=
Growth33▲+5
Track record100
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.57 against 0.6 in 2024; short-term debt: 172.3% and cash: 16.9% of total assets), and equity is negative.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 25
Relative position
BE, all sectors
reference
Sector 25
higher
← fewer bankruptcies
more bankruptcies →
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
-72.3%
Return on assets
-18.9%
Age of the figures
9 mo
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 · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €-517k
neutral · 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 filingsDeviation from the deadline
2025
31 d late
2024
61 d late
2023
54 d late
2022
31 d late
2021
61 d late
2020
31 d late
2019
34 d late
← before the deadline
after the deadline →
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
18-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
€5.51M▲ 34.2%
2024 · €4.10M
2018: €5.38M
2019: €5.88M
2020: €4.60M
2021: €4.44M
2022: €4.54M
2023: €4.21M
2024: €4.10M
2018 → 2025
EBIT margin
-0.3%▲ 0.3pp
2024 · -0.7%
2018: 0.9%
2019: 0.8%
2020: 1.0%
2021: 0.6%
2022: 2.8%
2023: 0.8%
2024: -0.7%
2018 → 2025
Net result
€-135k▼ 30.6%
2024 · €-103k
2018: €-9k
2019: €-7k
2020: €-58k
2021: €-89k
2022: €-76k
2023: €-71k
2024: €-103k
2018 → 2025
Working capital
€-526k▼ 70.0%
2024 · €-310k
2018: €100k
2019: €68k
2020: €-17k
2021: €-94k
2022: €-161k
2023: €-222k
2024: €-310k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€4.44M-€4.54M▲ 2.2%€4.21M▼ 7.3%€4.10M▼ 2.4%€5.51M▲ 34.2%
Equity€-51k-€-127k▼ 149%€-198k▼ 56.2%€-301k▼ 52.3%€-517k▼ 71.8%
Operating result€28k-€125k▲ 354%€36k▼ 71.6%€-27k€-19k▲ 30.5%
Net result€-89k-€-76k▲ 15.2%€-71k▲ 6.1%€-103k▼ 45.3%€-135k▼ 30.6%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €19k in 2025 against €27k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €715k
Fixed assets
€9k▼ 16.4%
Current assets
€705k▲ 51.6%
Key figures and ratios
EBITDA
€-8k▼
2024 · €-7k
Cash flow
€-124k▼
2024 · €-83k
Solvency
-72.3%▼
2024 · -63.2%
Current ratio
0.57▼
2024 · 0.60
Quick ratio
0.57▼
2024 · 0.60
Debt / equity
-2.38▲
2024 · -2.57
ROA
-18.9%▲
2024 · -21.7%
Interest coverage
-0.08▲
2024 · -0.11
Debt
€1.23M▲
2024 · €775k
Debt ≤ 1 year
€1.23M▲
2024 · €775k
Income taxes
€18k▲
2024 · €15k
Staff costs
€4.83M▲
2024 · €3.57M
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€476k€715k▲
Fixed assets21/28€11k€9k▼
Tangible fixed assets22/27€7k€6k▼
Plant, machinery and equipment23€4k€3k▼
Furniture and vehicles24€3k€3k▲
Financial fixed assets28€4k€3k▼
Current assets29/58€465k€705k▲
Amounts receivable within one year40/41€465k€564k▲
Trade receivables40€375k€463k▲
Other amounts receivable41€90k€101k▲
Cash at bank and in hand54/58€56€121k▲
Deferred charges and accrued income490/1€311€21k▲
Equity and liabilities
Total equity and liabilities10/49€476k€715k▲
Equity10/15€-301k€-517k▼
Contributions10/11€22k€42k▲
Profit (loss) carried forward14€-323k€-559k▼
Provisions and deferred taxes16€3k-
Provisions for liabilities and charges160/5€3k-
Environmental obligations163€3k-
Amounts payable17/49€775k€1.23M▲
Amounts payable within one year42/48€775k€1.23M▲
Current portion of amounts payable after more than one year42€18k€12k▼
Financial debts43€39k€19k▼
Credit institutions430/8€39k€19k▼
Trade debts44€379k€169k▼
Suppliers440/4€379k€169k▼
Taxes, remuneration and social security45€340k€1.03M▲
Taxes450/3€17k€2k▼
Remuneration and social security454/9€324k€1.03M▲
Income statement
Code20242025
Turnover70€4.10M€5.51M▲
Goods, raw materials, services and sundry goods60/61€535k€667k▲
Remuneration, social security and pensions62€3.57M€4.83M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€20k€11k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€8k€11k▲
Provisions for liabilities and charges: additions (uses and reversals)635/8-€-3k
Other operating charges640/8€2k€4k▲
Non-recurring operating charges66A€598€10k▲
Gross operating margin9900€3.57M€4.84M▲
Operating profit (loss)9901€-27k€-19k▲
Financial income75/76B€45€49▲
Recurring financial income75€45€49▲
Financial charges65/66B€61k€98k▲
Recurring financial charges65€61k€98k▲
Profit (loss) for the period before taxes9903€-88k€-117k▼
Income taxes67/77€15k€18k▲
Profit (loss) for the period9904€-103k€-135k▼
Profit (loss) for the period to be appropriated9905€-103k€-135k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-323k€-559k▼
Profit (loss) brought forward from the previous period14P€-220k€-424k▼
Social balance
Average headcount (FTE)908764.776.8▲
The notes to these accounts (12 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 31 days late
2025
31-12
Financial
Weakest financial yearnet €-135k
Net result drops to €-135k, the lowest in the series.
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 61 days late
2024
23-09
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 54 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 31 days late
2022
30-09
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 61 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 31 days late
2020
03-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 34 days late
2019
01-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 1 day late
2018
25-09
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 56 days late
2017
09-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 9 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
4 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, Aubange · 1 establishment unit since 2009
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Rue d'Athus - AUBANGE 286790 Aubange1 establishment unit
MAGA BELGIUM
since 20092.174.284.692
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BEST PROJECT
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Of 3,987 companies in sector 25110 we hold annual accounts for 2,148. 1,334 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded09-10-2008
Fiscal year end31-12
Activities, NACEBEL
25110Manufacture of metal structures and parts of structures
43990Other specialised construction activities
43999Specialised construction activities
33110Repair and maintenance of fabricated metal products
Sources
Crossroads Bank for EnterprisesNational Bank · 17 filings
Data from official sources, last processed on 18-09-2026. Scores and ratios are computed by Checked and are not a credit decision.