MAGIC SCALE MODELING
ActiveSummary
MAGIC SCALE MODELING has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€13,148) and a net result of -€4,672. Equity is shrinking by ~22.3% per year across the filed fiscal years. Its solvency ranks better than 13% of 656 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability14▼-46
Solvency0▼-6
Growth58=
Track record100
Bankruptcy probability, 12 months
1.5%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.79 against 0.86 in 2024; short-term debt: 103.7% and cash: 8.8% of total assets), and equity is negative.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
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
-32.6%
Return on assets
-11.6%
Age of the figures
9 mo
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 32
Relative position
BE, all sectors
reference
Other manufacturing (NACE 32)
about 28% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
202122232425
2020 to 2025 · latest year -€13,148
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 20-08-2026, 20 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 · 6 filingsDeviation from the deadline
2025
20 d late
2024
34 d early
2023
19 d late
2022
23 d late
2021
16 d early
2020
23 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 6 days after the deadline; the sector median for financial year 2024 is 2 days before the deadline, and 40% 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
-€13,148▼ 55.1%
2024 · -€8,476
Total assets
€40,319▼ 10.4%
2024 · €44,983
Net result
-€4,672
2024 · €3,501
Working capital
-€8,719▼ 59.3%
2024 · -€5,473
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€25,844-€21,720-€2,874▲ 86.8%€6,826-€2,434
Net result€20,810-€22,591-€5,666▲ 74.9%€3,501-€4,672
Equity€16,280-€6,311-€11,977▼ 89.8%-€8,476▲ 29.2%-€13,148▼ 55.1%
Total assets€62,134▲ 75.1%€52,685▼ 15.2%€42,781▼ 18.8%€44,983▲ 5.1%€40,319▼ 10.4%
Debt€45,854▲ 14.6%€58,996▲ 28.7%€54,758▼ 7.2%€53,459▼ 2.4%€53,467=
Working capital€17,874▲ 310%-€5,405-€10,447▼ 93.3%-€5,473▲ 47.6%-€8,719▼ 59.3%
Staff (FTE)1▲ 150%0.8▼ 20.0%0.8=
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €2,434 after €6,826 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €40,319
Fixed assets
€7,226 ▼ 41.7%
Current assets
€33,094 ▲ 1.6%
Key figures and ratios
EBITDA
€2,736▼
2024 · €11,996
Cash flow
€498▼
2024 · €8,671
Solvency
-32.6%▼
2024 · -18.8%
Current ratio
0.79▼
2024 · 0.86
Quick ratio
0.21▲
2024 · 0.19
Debt to equity
-4.07▲
2024 · -6.31
ROA
-11.6%▼
2024 · 7.8%
Interest coverage
1.22▼
2024 · 3.77
Debt ≤ 1 year
€41,813▲
2024 · €38,060
Debt > 1 year
€11,654▼
2024 · €15,399
Income taxes
€30▼
2024 · €180
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,035 companies that looked in July 2024 the way this one looks now, 7.2% went bankrupt within 24 months and 82% are still going.
- Micro
- 5 to 10 years old
- negative equity
- a loss of 10% of the balance sheet or more
7.2%
went bankrupt
8.2%
stopped otherwise
82%
still going
A further 2.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.5% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 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% | 1.6% |
| 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 74% 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 6,035 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 | €17,465 | €11,709 | €469 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,713 | €3,297 | €5,118 | €5,170 | €5,170 | = |
| Other operating charges640/8 | €501 | €1,189 | €2,464 | €908 | €672 | ▼ 26.0% |
| Gross operating margin9900 | €45,522 | -€5,524 | €5,177 | €12,904 | €3,409 | ▼ 73.6% |
| Operating profit (loss)9901 | €25,844 | -€21,720 | -€2,874 | €6,826 | -€2,434 | ▼ 136% |
| Financial income75/76B | €1,328 | €2,785 | €0 | €35 | €37 | ▲ 4.6% |
| Recurring financial income75 | €1,328 | €2,785 | €0 | €35 | €37 | ▲ 4.6% |
| Financial charges65/66B | €4,639 | €3,577 | €2,792 | €3,180 | €2,246 | ▼ 29.4% |
| Recurring financial charges65 | €4,639 | €3,577 | €2,792 | €3,180 | €2,246 | ▼ 29.4% |
| Profit (loss) for the period before taxes9903 | €22,533 | -€22,512 | -€5,666 | €3,681 | -€4,643 | ▼ 226% |
| Income taxes67/77 | €1,723 | €79 | - | €180 | €30 | ▼ 83.6% |
| Profit (loss) for the period9904 | €20,810 | -€22,591 | -€5,666 | €3,501 | -€4,672 | ▼ 233% |
| Profit (loss) for the period to be appropriated9905 | €20,810 | -€22,591 | -€5,666 | €3,501 | -€4,672 | ▼ 233% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €62,134 | €52,685 | €42,781 | €44,983 | €40,319 | ▼ 10.4% |
| Fixed assets21/28 | €8,406 | €21,646 | €17,566 | €12,396 | €7,226 | ▼ 41.7% |
| Tangible fixed assets22/27 | €8,406 | €21,646 | €17,566 | €12,396 | €7,226 | ▼ 41.7% |
| Plant, machinery and equipment23 | €2,792 | €2,163 | €1,534 | €905 | €276 | ▼ 69.5% |
| Furniture and vehicles24 | €4,616 | €2,791 | €1,979 | €1,166 | €354 | ▼ 69.7% |
| Leasing and similar rights25 | - | €15,809 | €12,299 | €8,789 | €5,279 | ▼ 39.9% |
| Other tangible fixed assets26 | €999 | €884 | €1,755 | €1,536 | €1,317 | ▼ 14.3% |
| Current assets29/58 | €53,727 | €31,040 | €25,215 | €32,587 | €33,094 | ▲ 1.6% |
| Stocks and contracts in progress3 | €27,673 | €21,861 | €20,251 | €25,175 | €24,485 | ▼ 2.7% |
| Stocks30/36 | €27,673 | €21,861 | €20,251 | €25,175 | €24,485 | ▼ 2.7% |
| Amounts receivable within one year40/41 | €5,488 | €3,549 | €427 | €2,554 | €4,863 | ▲ 90.4% |
| Trade receivables40 | €706 | €304 | €0 | €547 | €4,494 | ▲ 722% |
| Other amounts receivable41 | €4,783 | €3,245 | €427 | €2,007 | €370 | ▼ 81.6% |
| Cash at bank and in hand54/58 | €19,074 | €3,887 | €4,538 | €3,616 | €3,536 | ▼ 2.2% |
| Deferred charges and accrued income490/1 | €1,493 | €1,743 | - | €1,242 | €209 | ▼ 83.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €62,134 | €52,685 | €42,781 | €44,983 | €40,319 | ▼ 10.4% |
| Equity10/15 | €16,280 | -€6,311 | -€11,977 | -€8,476 | -€13,148 | ▼ 55.1% |
| Contributions10/11 | €6,000 | €6,000 | €6,000 | €6,000 | €6,000 | = |
| Reserves13 | €10,280 | €10,280 | €10,280 | €10,280 | €10,280 | = |
| Distributable reserves133 | €10,280 | €10,280 | €10,280 | €10,280 | €10,280 | = |
| Profit (loss) carried forward14 | €0 | -€22,591 | -€28,257 | -€24,756 | -€29,428 | ▼ 18.9% |
| Amounts payable17/49 | €45,854 | €58,996 | €54,758 | €53,459 | €53,467 | = |
| Amounts payable after more than one year17 | €10,000 | €22,552 | €19,096 | €15,399 | €11,654 | ▼ 24.3% |
| Financial debts170/4 | - | €12,552 | €9,096 | €5,399 | €1,654 | ▼ 69.4% |
| Other amounts payable178/9 | €10,000 | €10,000 | €10,000 | €10,000 | €10,000 | = |
| Amounts payable within one year42/48 | €35,854 | €36,445 | €35,662 | €38,060 | €41,813 | ▲ 9.9% |
| Current portion of amounts payable after more than one year42 | - | €3,356 | €3,456 | €3,798 | €3,745 | ▼ 1.4% |
| Trade debts44 | €2,111 | €5,621 | €27 | €7,048 | €5,367 | ▼ 23.8% |
| Suppliers440/4 | €2,111 | €5,621 | €27 | €7,048 | €5,367 | ▼ 23.8% |
| Taxes, remuneration and social security45 | €4,719 | €2,810 | €75 | €807 | €490 | ▼ 39.3% |
| Taxes450/3 | €2,962 | €2,346 | €75 | €807 | €490 | ▼ 39.3% |
| Remuneration and social security454/9 | €1,757 | €465 | €0 | - | - | - |
| Other amounts payable47/48 | €29,024 | €24,657 | €32,105 | €26,408 | €32,212 | ▲ 22.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €20,810 | -€22,591 | -€5,666 | €3,501 | -€4,672 | ▼ 233% |
| + Depreciation and write-downs630 | €1,713 | €3,297 | €5,118 | €5,170 | €5,170 | = |
| Operating cash flow (approximation) | €22,522 | -€19,294 | -€548 | €8,671 | €498 | ▼ 94.3% |
| Investment in fixed assets (approximation) | - | -€16,537 | -€1,038 | €0 | €0 | - |
| Change in cash | - | -€15,187 | €651 | -€921 | -€80 | ▲ 91.3% |
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
20-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 20 days late
2025
27-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €3,501
Net result €3,501 after 2 loss-making years.
19-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 19 days late
2023
23-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 23 days late
2022
31-12
Financial
Weakest financial yearnet -€22,591
Net result drops to -€22,591, the lowest in the series; recovery starts the following year.
15-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €20,810
Net result €20,810 after one loss-making year.
23-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 23 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Tubize · 1 establishment unit since 2019
Ground area
172 m²
Building footprint
118 m²
Parcel 25105E0122/00B000, Wallonia. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
MAGIC SCALE MODELING
since 20192.296.452.729
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25105E0122/00B000 | Wallonia | 172 m² | 1 · 118 m² | - |
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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Of 338 companies in sector 32400 we hold annual accounts for 103. 66 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
Founded02-12-2019
Fiscal year end31-12
Activities, NACEBEL 2025
32400Other manufacturing
27402Manufacture of electrical equipment
27900Manufacture of electrical equipment
47120Other non-specialised retail sale
47640Retail sale of games and toys
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0738633125
Registered
05-09-2025
Register as of 26 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.