MAGEX
ActiveSummary
MAGEX has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€126,362) and a net result of -€130. Equity is shrinking by ~11.4% per year across the filed fiscal years. Its solvency ranks better than 8% of 7833 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability69▲+56
Solvency0=
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.2 against 0.16 in 2024; short-term debt: 10.1% and cash: 0.2% of total assets), and equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 82
Relative position
BE, all sectors
reference
Office administrative, office support and other business support activities (NACE 82)
about 37% fewer bankruptcies
← 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
-42.7%
Return on assets
0%
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 -€126,362
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 24-04-2026, 98 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
98 d early
2024
133 d early
2023
128 d early
2022
56 d early
2021
53 d early
2020
54 d early
2019
53 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 82 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 35% 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 24 April (4 of the last 5 filed years within 42 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
-€126,362▼ 0.1%
2024 · -€126,232
Total assets
€295,773▼ 3.1%
2024 · €305,184
Net result
-€130▲ 99.0%
2024 · -€12,984
Working capital
-€23,903▲ 11.6%
2024 · -€27,032
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 82, Office administrative, office support and other business support 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-€13,564▼ 22.8%-€8,692▲ 35.9%-€11,875▼ 36.6%-€12,917▼ 8.8%-€49▲ 99.6%
Net result-€13,607below the sector's middle half▼ 23.2%-€8,740below the sector's middle half▲ 35.8%-€11,930below the sector's middle half▼ 36.5%-€12,984below the sector's middle half▼ 8.8%-€130below the sector's middle half▲ 99.0%
Equity-€92,579below the sector's middle half▼ 17.2%-€101,319below the sector's middle half▼ 9.4%-€113,249below the sector's middle half▼ 11.8%-€126,232below the sector's middle half▼ 11.5%-€126,362below the sector's middle half▼ 0.1%
Total assets€333,698within the sector's middle half▼ 2.3%€322,700within the sector's middle half▼ 3.3%€315,411within the sector's middle half▼ 2.3%€305,184within the sector's middle half▼ 3.2%€295,773within the sector's middle half▼ 3.1%
Debt€426,277▲ 1.4%€424,019▼ 0.5%€428,659▲ 1.1%€431,417▲ 0.6%€422,135▼ 2.2%
Working capital-€20,132below the sector's middle half▼ 47.1%-€18,919below the sector's middle half▲ 6.0%-€23,386below the sector's middle half▼ 23.6%-€27,032below the sector's middle half▼ 15.6%-€23,903below the sector's middle half▲ 11.6%
Solvency-27.7%below the sector's middle half▼ 4.6pp-31.4%below the sector's middle half▼ 3.7pp-35.9%below the sector's middle half▼ 4.5pp-41.4%below the sector's middle half▼ 5.5pp-42.7%below the sector's middle half▼ 1.4pp
Current ratio0.24below the sector's middle half▼ 0.110.24below the sector's middle half=0.20below the sector's middle half▼ 0.030.16below the sector's middle half▼ 0.050.20below the sector's middle half▲ 0.04
Return on assets (ROA)-4.1%below the sector's middle half▼ 0.8pp-2.7%below the sector's middle half▲ 1.4pp-3.8%below the sector's middle half▼ 1.1pp-4.3%below the sector's middle half▼ 0.5pp0.0%below the sector's middle half▲ 4.2pp
above
within
below
the middle half (P25 to P75) of NACE 82, Office administrative, office support and other business support 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
The operating result stays negative: a loss of €49 in 2025 against €12,917 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €295,773
Fixed assets
€289,819 ▼ 3.4%
Current assets
€5,954 ▲ 16.3%
Key figures and ratios
EBITDA
€9,444▲
2024 · -€2,358
Cash flow
€9,363▲
2024 · -€2,425
Debt to equity
-3.34▲
2024 · -3.42
Interest coverage
117.10▲
2024 · -35.12
Debt ≤ 1 year
€29,856▼
2024 · €32,149
Debt > 1 year
€391,711▼
2024 · €398,701
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,338 companies that looked in July 2024 the way this one looks now, 2.5% went bankrupt within 24 months and 90% are still going.
- Micro
- 10 to 20 years old
- negative equity
- a small loss
2.5%
went bankrupt
5.6%
stopped otherwise
90%
still going
A further 1.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.4% 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 2,338 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €11,140 | €10,556 | €10,749 | €10,558 | €9,493 | ▼ 10.1% |
| Other operating charges640/8 | €3,466 | €3,553 | €3,887 | €3,972 | €6,619 | ▲ 66.6% |
| Gross operating margin9900 | €1,043 | €5,417 | €2,761 | €1,614 | €16,063 | ▲ 895% |
| Operating profit (loss)9901 | -€13,564 | -€8,692 | -€11,875 | -€12,917 | -€49 | ▲ 99.6% |
| Financial charges65/66B | €44 | €48 | €55 | €67 | €81 | ▲ 20.1% |
| Recurring financial charges65 | €44 | €48 | €55 | €67 | €81 | ▲ 20.1% |
| Profit (loss) for the period before taxes9903 | -€13,607 | -€8,740 | -€11,930 | -€12,984 | -€130 | ▲ 99.0% |
| Profit (loss) for the period9904 | -€13,607 | -€8,740 | -€11,930 | -€12,984 | -€130 | ▲ 99.0% |
| Profit (loss) for the period to be appropriated9905 | -€13,607 | -€8,740 | -€11,930 | -€12,984 | -€130 | ▲ 99.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €333,698 | €322,700 | €315,411 | €305,184 | €295,773 | ▼ 3.1% |
| Fixed assets21/28 | €327,421 | €316,865 | €309,403 | €300,067 | €289,819 | ▼ 3.4% |
| Tangible fixed assets22/27 | €327,421 | €316,865 | €309,403 | €300,067 | €289,819 | ▼ 3.4% |
| Land and buildings22 | €320,697 | €311,820 | €303,024 | €294,229 | €285,433 | ▼ 3.0% |
| Plant, machinery and equipment23 | €5,168 | €4,267 | €3,366 | €2,505 | €2,079 | ▼ 17.0% |
| Furniture and vehicles24 | €1,557 | €778 | €3,012 | €3,333 | €2,307 | ▼ 30.8% |
| Current assets29/58 | €6,277 | €5,835 | €6,008 | €5,118 | €5,954 | ▲ 16.3% |
| Amounts receivable within one year40/41 | €1,550 | €3,171 | €1,846 | €2,815 | €3,283 | ▲ 16.6% |
| Trade receivables40 | €1,550 | €3,171 | €1,846 | €2,815 | €3,283 | ▲ 16.6% |
| Cash at bank and in hand54/58 | €3,309 | €1,047 | €2,432 | €611 | €702 | ▲ 14.8% |
| Deferred charges and accrued income490/1 | €1,418 | €1,618 | €1,730 | €1,691 | €1,969 | ▲ 16.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €333,698 | €322,700 | €315,411 | €305,184 | €295,773 | ▼ 3.1% |
| Equity10/15 | -€92,579 | -€101,319 | -€113,249 | -€126,232 | -€126,362 | ▼ 0.1% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Profit (loss) carried forward14 | -€111,179 | -€119,919 | -€131,849 | -€144,832 | -€144,962 | ▼ 0.1% |
| Amounts payable17/49 | €426,277 | €424,019 | €428,659 | €431,417 | €422,135 | ▼ 2.2% |
| Amounts payable after more than one year17 | €398,701 | €398,701 | €398,701 | €398,701 | €391,711 | ▼ 1.8% |
| Other amounts payable178/9 | €398,701 | €398,701 | €398,701 | €398,701 | €391,711 | ▼ 1.8% |
| Amounts payable within one year42/48 | €26,409 | €24,754 | €29,394 | €32,149 | €29,856 | ▼ 7.1% |
| Trade debts44 | €115 | - | - | €383 | €116 | ▼ 69.6% |
| Suppliers440/4 | €115 | - | - | €383 | €116 | ▼ 69.6% |
| Taxes, remuneration and social security45 | €365 | €284 | €504 | €474 | €1,137 | ▲ 140% |
| Taxes450/3 | €365 | €284 | €504 | €474 | €1,137 | ▲ 140% |
| Other amounts payable47/48 | €25,929 | €24,469 | €28,890 | €31,293 | €28,603 | ▼ 8.6% |
| Accrued charges and deferred income492/3 | €1,167 | €564 | €564 | €566 | €567 | ▲ 0.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€13,607 | -€8,740 | -€11,930 | -€12,984 | -€130 | ▲ 99.0% |
| + Depreciation and write-downs630 | €11,140 | €10,556 | €10,749 | €10,558 | €9,493 | ▼ 10.1% |
| Operating cash flow (approximation) | -€2,467 | €1,816 | -€1,181 | -€2,425 | €9,363 | ▲ 486% |
| Investment in fixed assets (approximation) | - | €0 | -€3,286 | -€1,222 | €755 | ▲ 162% |
| Change in cash | - | -€2,262 | €1,386 | -€1,821 | €91 | ▲ 105% |
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
24-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
20-03
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
25-03
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
05-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
08-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Weakest financial yearnet -€13,607
Net result drops to -€13,607, the lowest in the series; recovery starts the following year.
07-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
08-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
03-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
15-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
09-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 9 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Mortsel · 1 establishment unit since 2007
Ground area
217 m²
Building footprint
109 m²
Volume, LiDAR
874 m³
Parcel 11513C0257/00G004, Flanders · tallest building 10.3 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
MAGEX BVBA
since 20072.168.741.737
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11513C0257/00G004 | Flanders | 217 m² | 1 · 109 m² | 10.3 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 11,218 companies in sector 82100 we hold annual accounts for 3,516. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded14-11-2007
Fiscal year end31-12
Activities, NACEBEL 2025
82100Office administrative and support services
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0893449875
Also
9925:BE0893449875
Registered
31-10-2025
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.