Mager
ActiveSummary
Mager has been active since 1968 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €118,360 and a net result of €19,780. Equity is growing by ~9.9% per year across the filed fiscal years. Its solvency ranks better than 84% of 28254 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability85▲+2
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €10,000 at 30 days acceptable
Liquidity ample (current ratio 4.71 against 4.85 in 2024; short-term debt: 20.8% and cash: 41.7% of total assets), and 20.8% of the assets are financed with debt.
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Signals
Five 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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
79.2%
Return on assets
13.2%
Age of the figures
9 mo
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 30-06-2026, 31 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
31 d early
2024
51 d early
2023
1 d early
2022
on the day
2021
2 d early
2020
31 d late
2019
11 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 9 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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. Usually files around 29 July (4 of the last 5 filed years within 30 days of that day).
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
€118,360▲ 20.1%
2024 · €98,580
Total assets
€149,419▲ 21.6%
2024 · €122,885
Net result
€19,780▲ 42.0%
2024 · €13,930
Working capital
€115,225▲ 23.2%
2024 · €93,510
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction activities, 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-€18,212€11,912€6,491▼ 45.5%€14,439▲ 122%€28,209▲ 95.4%
Net result-€19,029below the sector's middle half€11,631within the sector's middle half€6,741within the sector's middle half▼ 42.0%€13,930within the sector's middle half▲ 107%€19,780within the sector's middle half▲ 42.0%
Equity€66,278within the sector's middle half▼ 22.3%€77,909within the sector's middle half▲ 17.5%€84,650within the sector's middle half▲ 8.7%€98,580within the sector's middle half▲ 16.5%€118,360within the sector's middle half▲ 20.1%
Total assets€107,286within the sector's middle half▲ 5.1%€100,358within the sector's middle half▼ 6.5%€116,697within the sector's middle half▲ 16.3%€122,885within the sector's middle half▲ 5.3%€149,419within the sector's middle half▲ 21.6%
Debt€41,008▲ 144%€22,449▼ 45.3%€32,047▲ 42.8%€24,305▼ 24.2%€31,058▲ 27.8%
Working capital€63,767within the sector's middle half▼ 23.9%€76,694within the sector's middle half▲ 20.3%€82,210within the sector's middle half▲ 7.2%€93,510above the sector's middle half▲ 13.7%€115,225above the sector's middle half▲ 23.2%
Solvency61.8%within the sector's middle half▼ 21.8pp77.6%above the sector's middle half▲ 15.9pp72.5%above the sector's middle half▼ 5.1pp80.2%above the sector's middle half▲ 7.7pp79.2%above the sector's middle half▼ 1.0pp
Current ratio2.55within the sector's middle half▼ 3.444.42above the sector's middle half▲ 1.863.57above the sector's middle half▼ 0.854.85above the sector's middle half▲ 1.284.71above the sector's middle half▼ 0.14
Return on assets (ROA)-17.7%below the sector's middle half▼ 42.7pp11.6%within the sector's middle half▲ 29.3pp5.8%within the sector's middle half▼ 5.8pp11.3%within the sector's middle half▲ 5.6pp13.2%within the sector's middle half▲ 1.9pp
Staff (FTE)2.7▲ 35.0%3.2▲ 18.5%3▼ 6.3%3.8▲ 26.7%4▲ 5.3%
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, 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
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 95% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €149,419
Fixed assets
€3,135 ▼ 38.2%
Current assets
€146,283 ▲ 24.2%
Equity and liabilities €149,419
Equity
€118,360 ▲ 20.1%
Debt
€31,058 ▲ 27.8%
Debt's share of the balance-sheet total rises from 19.8% to 20.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€30,144▲
2024 · €15,676
Cash flow
€21,715▲
2024 · €15,167
Quick ratio
4.47▼
2024 · 4.59
Debt to equity
0.26▲
2024 · 0.25
ROE
16.7%▲
2024 · 14.1%
Interest coverage
121.91▲
2024 · 22.61
Debt ≤ 1 year
€31,058▲
2024 · €24,305
Income taxes
€9,100▲
2024 · €778
Staff costs
€141,143▲
2024 · €126,405
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,349 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.4%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 0.8% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
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 31,349 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 | €107,337 | €109,986 | €102,958 | €126,405 | €141,143 | ▲ 11.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,051 | €1,295 | €898 | €1,237 | €1,935 | ▲ 56.4% |
| Other operating charges640/8 | €769 | €1,198 | €792 | €777 | €793 | ▲ 2.1% |
| Gross operating margin9900 | €90,945 | €124,392 | €111,139 | €142,858 | €172,079 | ▲ 20.5% |
| Operating profit (loss)9901 | -€18,212 | €11,912 | €6,491 | €14,439 | €28,209 | ▲ 95.4% |
| Financial income75/76B | €809 | €1,230 | €1,000 | €963 | €919 | ▼ 4.5% |
| Recurring financial income75 | €809 | €1,230 | €1,000 | €963 | €919 | ▼ 4.5% |
| Financial charges65/66B | €1,626 | €1,511 | €750 | €693 | €247 | ▼ 64.3% |
| Recurring financial charges65 | €1,626 | €1,511 | €750 | €693 | €247 | ▼ 64.3% |
| Profit (loss) for the period before taxes9903 | -€19,029 | €11,631 | €6,741 | €14,708 | €28,881 | ▲ 96.4% |
| Income taxes67/77 | - | - | - | €778 | €9,100 | ▲ 1,069% |
| Profit (loss) for the period9904 | -€19,029 | €11,631 | €6,741 | €13,930 | €19,780 | ▲ 42.0% |
| Profit (loss) for the period to be appropriated9905 | -€19,029 | €11,631 | €6,741 | €13,930 | €19,780 | ▲ 42.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €107,286 | €100,358 | €116,697 | €122,885 | €149,419 | ▲ 21.6% |
| Fixed assets21/28 | €2,510 | €1,215 | €2,441 | €5,070 | €3,135 | ▼ 38.2% |
| Tangible fixed assets22/27 | €2,420 | €1,125 | €2,351 | €4,980 | €3,045 | ▼ 38.8% |
| Plant, machinery and equipment23 | €1,620 | €599 | €252 | - | - | - |
| Furniture and vehicles24 | €800 | €527 | €2,098 | €4,980 | €3,045 | ▼ 38.8% |
| Financial fixed assets28 | €90 | €90 | €90 | €90 | €90 | = |
| Current assets29/58 | €104,775 | €99,143 | €114,256 | €117,816 | €146,283 | ▲ 24.2% |
| Stocks and contracts in progress3 | €4,085 | €1,473 | €1,500 | €6,218 | €7,323 | ▲ 17.8% |
| Stocks30/36 | €4,085 | €1,473 | €1,500 | €6,218 | €7,323 | ▲ 17.8% |
| Amounts receivable within one year40/41 | €52,827 | €50,285 | €29,862 | €59,169 | €59,869 | ▲ 1.2% |
| Trade receivables40 | €36,208 | €32,387 | €13,743 | €42,904 | €43,441 | ▲ 1.2% |
| Other amounts receivable41 | €16,619 | €17,899 | €16,118 | €16,265 | €16,428 | ▲ 1.0% |
| Current investments50/53 | €10,023 | €10,023 | €10,032 | €10,039 | €10,062 | ▲ 0.2% |
| Cash at bank and in hand54/58 | €35,011 | €34,033 | €68,489 | €37,858 | €62,368 | ▲ 64.7% |
| Deferred charges and accrued income490/1 | €2,829 | €3,328 | €4,374 | €4,532 | €6,662 | ▲ 47.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €107,286 | €100,358 | €116,697 | €122,885 | €149,419 | ▲ 21.6% |
| Equity10/15 | €66,278 | €77,909 | €84,650 | €98,580 | €118,360 | ▲ 20.1% |
| Contributions10/11 | €19,000 | €19,000 | €19,000 | €19,000 | €19,000 | = |
| Reserves13 | €4,105 | €4,105 | €4,105 | €4,105 | €23,885 | ▲ 482% |
| Non-distributable reserves130/1 | €4,105 | €4,105 | €4,105 | €2,205 | €2,205 | = |
| Reserves not available under the articles1311 | €4,105 | €4,105 | €4,105 | €2,205 | €2,205 | = |
| Distributable reserves133 | - | - | - | €1,900 | €21,680 | ▲ 1,041% |
| Profit (loss) carried forward14 | €43,173 | €54,804 | €61,546 | €75,475 | €75,475 | = |
| Amounts payable17/49 | €41,008 | €22,449 | €32,047 | €24,305 | €31,058 | ▲ 27.8% |
| Amounts payable within one year42/48 | €41,008 | €22,449 | €32,047 | €24,305 | €31,058 | ▲ 27.8% |
| Trade debts44 | €32,135 | €13,054 | €10,259 | €16,277 | €9,055 | ▼ 44.4% |
| Suppliers440/4 | €32,135 | €13,054 | €10,259 | €16,277 | €9,055 | ▼ 44.4% |
| Taxes, remuneration and social security45 | €8,873 | €9,395 | €21,788 | €8,028 | €22,003 | ▲ 174% |
| Taxes450/3 | €4,706 | €2,948 | €11,910 | €1,534 | €15,732 | ▲ 925% |
| Remuneration and social security454/9 | €4,167 | €6,447 | €9,878 | €6,494 | €6,271 | ▼ 3.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€19,029 | €11,631 | €6,741 | €13,930 | €19,780 | ▲ 42.0% |
| + Depreciation and write-downs630 | €1,051 | €1,295 | €898 | €1,237 | €1,935 | ▲ 56.4% |
| Operating cash flow (approximation) | -€17,979 | €12,927 | €7,639 | €15,167 | €21,715 | ▲ 43.2% |
| Investment in fixed assets (approximation) | - | €0 | -€2,123 | -€3,866 | €0 | ▲ 100% |
| Change in cash | - | -€978 | €34,455 | -€30,631 | €24,510 | ▲ 180% |
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
30-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Equity above €100,000Eq €118,360 ▲20.1%
4 profitable years in a row build equity to €118,360.
10-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Back to profitnet €11,631
Net result €11,631 after one loss-making year.
29-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Weakest financial yearnet -€19,029
Net result drops to -€19,029, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
31-12
Financial
Highest result since 2018net €25,529 ▲1,054%
Net result €25,529, the highest in the series.
20-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
29-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
31-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
13-04
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 2 acts read
About the unread acts
We know of 2 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
2 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, Elsene · 1 establishment unit since 1966
Ground area
234 m²
Building footprint
151 m²
Volume, LiDAR
1,771 m³
2 parcels, Brussels · tallest building 17.0 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
Boondaalse Steenweg 362, 1050 Elsene
since 19662.000.829.787
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21445C0264/00Y019 | Brussels | 174 m² | 1 · 92 m² | 15.4 m · 4 fl. |
| 21445C0234/00K030 | Brussels | 60 m² | 1 · 59 m² | 17.0 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 7,868 companies in sector 43341 we hold annual accounts for 2,666. 2,221 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded01-01-1968
Fiscal year end31-12
Activities, NACEBEL 2025
43333Wallpapering and laying of floor and wall coverings in other materials
43341Painting of buildings
43332Laying of wooden floor and wall coverings
47521Retail sale of hardware, building materials, paint and glass (general range)
E-invoicing
Reachable via Peppol
Peppol ID
0208:0400427777
Also
9925:BE0400427777
Registered
31-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.