MAGABEL
InactiveInactive; last annual accounts for fiscal year 2025.
Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
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
2 d early
2023
29 d late
2022
12 d early
2021
1 d early
2020
40 d late
2019
29 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 8 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)
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
27-09-2026 today31-12-2026 close31-07-2027 deadline
Go further with this company
Who ran this company, and where was it based, on a date before the end?Company as of a date Which other companies belong to the same group?HERSTORY · 10 companies
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€101,469▲ 41.0%
2024 · €71,952
Working capital
€696,116▲ 17.2%
2024 · €594,173
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€252,853▲ 21.3%€541,378▲ 114%€196,785▼ 63.7%€150,730▼ 23.4%€144,333▼ 4.2%
Net result€268,419▲ 108%€353,019▲ 31.5%€90,092▼ 74.5%€71,952▼ 20.1%€101,469▲ 41.0%
Equity€598,680€761,700▲ 27.2%€791,792▲ 4.0%€815,744▲ 3.0%€1.3m▲ 59.3%
Total assets€2.0m▲ 22.1%€2.0m▼ 1.6%€2.1m▲ 4.5%€2.0m▼ 4.3%€2.7m▲ 35.2%
Debt€1.4m▲ 7.5%€1.2m▼ 13.6%€1.3m▲ 4.8%€1.2m▼ 8.7%€1.4m▲ 18.7%
Working capital€444,389▲ 77.4%€613,116▲ 38.0%€544,221▼ 11.2%€594,173▲ 9.2%€696,116▲ 17.2%
Staff (FTE)168.6▲ 6.7%176.2▲ 4.5%176.3▲ 0.1%177.2▲ 0.5%171.2▼ 3.4%
Why a figure moved sharply
- 2023 Net result -74% on 2022. The previous fiscal year ran 19 months, this one 12.
Result per fiscal year
Operating resultNet result
The operating result has fallen three years in a row; 2025 is 4% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.7m
Fixed assets
€863,231 ▲ 118%
Current assets
€1.9m ▲ 14.9%
Equity and liabilities €2.7m
Equity
€1.3m ▲ 59.3%
Debt
€1.4m ▲ 18.7%
Debt's share of the balance-sheet total falls from 59.4% to 52.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€188,365▼
2024 · €221,946
Cash flow
€145,502▲
2024 · €143,169
Current ratio
1.60▲
2024 · 1.58
Debt to equity
1.09▼
2024 · 1.46
ROE
7.8%▼
2024 · 8.8%
ROA
3.7%▲
2024 · 3.6%
Interest coverage
14.72▲
2024 · 11.32
Debt ≤ 1 year
€1.2m▲
2024 · €1.0m
Debt > 1 year
€167,440=
2024 · €167,440
Income taxes
€30,074▼
2024 · €59,180
Staff costs
€4.3m▼
2024 · €5.9m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €63,763 | €5,859 | €1,562 | €618 | ▼ 60.5% |
| Remuneration, social security and pensions62 | - | €8.0m | €5.8m | €5.9m | €4.3m | ▼ 27.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €33,150 | €82,097 | €64,923 | €71,216 | €44,032 | ▼ 38.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €3,054 | - | - |
| Other operating charges640/8 | - | €10,252 | €5,508 | €6,857 | €4,183 | ▼ 39.0% |
| Non-recurring operating charges66A | - | €5,000 | €16,901 | €0 | €4,908 | - |
| Gross operating margin9900 | €5.2m | €8.7m | €6.1m | €6.2m | €4.5m | ▼ 27.4% |
| Operating profit (loss)9901 | €252,853 | €541,378 | €196,785 | €150,730 | €144,333 | ▼ 4.2% |
| Financial income75/76B | - | €3,434 | €2,993 | €7 | €3 | ▼ 52.8% |
| Recurring financial income75 | €5,750 | €3,434 | €2,993 | €7 | €3 | ▼ 52.8% |
| Financial charges65/66B | - | €19,255 | €18,298 | €19,604 | €12,792 | ▼ 34.7% |
| Recurring financial charges65 | €9,034 | €19,255 | €18,298 | €19,604 | €12,792 | ▼ 34.7% |
| Profit (loss) for the period before taxes9903 | €249,569 | €525,557 | €181,480 | €131,132 | €131,544 | ▲ 0.3% |
| Income taxes67/77 | -€18,850 | €172,538 | €91,388 | €59,180 | €30,074 | ▼ 49.2% |
| Profit (loss) for the period9904 | €268,419 | €353,019 | €90,092 | €71,952 | €101,469 | ▲ 41.0% |
| Profit (loss) for the period to be appropriated9905 | €268,419 | €353,019 | €90,092 | €71,952 | €101,469 | ▲ 41.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.0m | €2.0m | €2.1m | €2.0m | €2.7m | ▲ 35.2% |
| Fixed assets21/28 | €240,395 | €389,445 | €450,822 | €396,744 | €863,231 | ▲ 118% |
| Tangible fixed assets22/27 | €236,018 | €385,066 | €446,441 | €393,744 | €860,231 | ▲ 118% |
| Land and buildings22 | - | €360,788 | €394,594 | €343,278 | €799,470 | ▲ 133% |
| Plant, machinery and equipment23 | - | €2,237 | €1,576 | €914 | €418 | ▼ 54.3% |
| Furniture and vehicles24 | - | €16,917 | €25,854 | €28,167 | €14,946 | ▼ 46.9% |
| Other tangible fixed assets26 | - | €5,123 | €24,417 | €21,384 | €45,397 | ▲ 112% |
| Financial fixed assets28 | €4,377 | €4,380 | €4,381 | €3,000 | €3,000 | = |
| Current assets29/58 | €1.8m | €1.6m | €1.7m | €1.6m | €1.9m | ▲ 14.9% |
| Amounts receivable after more than one year29 | - | €0 | - | - | - | - |
| Trade receivables290 | - | €0 | - | - | - | - |
| Amounts receivable within one year40/41 | €799,867 | €458,864 | €564,816 | €470,426 | €1.3m | ▲ 173% |
| Trade receivables40 | - | €324,597 | €411,712 | €354,501 | €348,214 | ▼ 1.8% |
| Other amounts receivable41 | - | €134,267 | €153,104 | €115,925 | €937,359 | ▲ 709% |
| Cash at bank and in hand54/58 | €877,337 | €1.2m | €1.1m | €1.1m | €563,780 | ▼ 50.6% |
| Deferred charges and accrued income490/1 | - | €9,479 | €20,699 | €998 | €4,984 | ▲ 399% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.0m | €2.0m | €2.1m | €2.0m | €2.7m | ▲ 35.2% |
| Equity10/15 | €598,680 | €761,700 | €791,792 | €815,744 | €1.3m | ▲ 59.3% |
| Contributions10/11 | - | €6,200 | €6,200 | €6,200 | €488,200 | ▲ 7,774% |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | €0 | - | - | - | - |
| Reserves not available under the articles1311 | - | €0 | - | - | - | - |
| Distributable reserves133 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €590,620 | €753,640 | €783,732 | €807,684 | €809,154 | ▲ 0.2% |
| Amounts payable17/49 | €1.4m | €1.2m | €1.3m | €1.2m | €1.4m | ▲ 18.7% |
| Amounts payable after more than one year17 | €86,104 | €240,861 | €203,251 | €167,440 | €167,440 | = |
| Financial debts170/4 | - | €240,861 | €203,251 | €167,440 | €167,440 | = |
| Amounts payable within one year42/48 | €1.4m | €1.0m | €1.1m | €1.0m | €1.2m | ▲ 13.6% |
| Current portion of amounts payable after more than one year42 | - | €198,668 | €201,964 | €214,628 | €9,393 | ▼ 95.6% |
| Financial debts43 | - | €0 | - | - | €331,264 | - |
| Credit institutions430/8 | - | €0 | - | - | €331,264 | - |
| Trade debts44 | €231,600 | €34,915 | €60,892 | €37,512 | €40,971 | ▲ 9.2% |
| Suppliers440/4 | - | €34,915 | €60,892 | €37,512 | €40,971 | ▲ 9.2% |
| Taxes, remuneration and social security45 | - | €771,843 | €786,974 | €679,181 | €637,452 | ▼ 6.1% |
| Taxes450/3 | - | €78,233 | €33,928 | €28,244 | €52,582 | ▲ 86.2% |
| Remuneration and social security454/9 | - | €693,610 | €753,046 | €650,937 | €584,870 | ▼ 10.1% |
| Other amounts payable47/48 | - | €3,064 | €55,980 | €88,145 | €139,141 | ▲ 57.9% |
| Accrued charges and deferred income492/3 | - | - | - | €7,732 | €92,693 | ▲ 1,099% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €268,419 | €353,019 | €90,092 | €71,952 | €101,469 | ▲ 41.0% |
| + Depreciation and write-downs630 | €33,150 | €82,097 | €64,923 | €71,216 | €44,032 | ▼ 38.2% |
| Operating cash flow (approximation) | €301,569 | €435,116 | €155,015 | €143,169 | €145,502 | ▲ 1.6% |
| Investment in fixed assets (approximation) | - | -€231,147 | -€126,299 | -€17,138 | -€510,520 | ▼ 2,879% |
| Change in cash | - | €275,925 | -€88,746 | €77,699 | -€578,435 | ▼ 844% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 31 days late
2025
31-12
Financial
Equity above €1mEq €1.3m ▲59.3%
7 profitable years in a row build equity to €1.3m.
29-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 29 days late
2023
19-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Highest result since 2019net €353,019 ▲31.5%
Operating result €541,378, net result €353,019, both a record.
2021
30-12
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
09-02
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 40 days late
2019
02-12
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2018
29-11
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2017
26-12
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2016
21-12
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 14 acts read
About the unread acts
We know of 14 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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Structure & network
Part of the group
HERSTORY
10 companies
Group, risk and exposure
Owners and holdings
2 ownersChain of control
Highest known parent: HERSTORY. The sources do not say who stands above it.
Owners 2
- OPHELIMAparentSourceown accounts 202566.91%
-
33.09%
Holdings 0
The accounts to 31-12-2025 list no holdings, and no other source names one.
According to the 2025 annual accounts of MAGABEL 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.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 9 entries · 5,877,086 EUR awarded · 5,867,682 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 3 | 1,343,723 EUR | 1,343,529 EUR |
| 2024 | 2 | 1,606,294 EUR | 1,606,263 EUR |
| 2023 | 2 | 1,565,598 EUR | 1,560,983 EUR |
| 2022 | 2 | 1,361,471 EUR | 1,356,907 EUR |