MAISPA
ActiveSummary
The annual accounts of MAISPA for fiscal year 2025 show a net loss of 435% of total assets and of 82% of the equity at the start of that year. The 2025 annual accounts show equity of €6k and a net result of €-25k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 95% of 18400 sector peers (fiscal year 2025). The company has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 1.4% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0=
Solvency100=
Growth32=
Track record100
Bankruptcy probability, 12 months
1.4%
Low
0%0.5%1.5%4%10%≥ 25%
No publishable credit limit; credit only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity tight (current ratio 1.43 against 3.45 in 2024; short-term debt: 2.4% and cash: 3% of total assets), and 2.4% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
+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 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more 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
97.6%
Return on assets
-434.7%
Age of the figures
9 mo
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 · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
19202122232425
2019 to 2025 · latest year €-25k
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 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 · 7 filingsDeviation from the deadline
2025
28 d late
2024
61 d late
2023
60 d late
2022
61 d late
2021
30 d late
2020
28 d late
2019
15 d early
← before the deadline
after the deadline →
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€6k▼ 81.7%
2024 · €30k
2019: €34k
2020: €58k▲ +70.4% vs 2019
2021: €76k▲ +31.0% vs 2020
2022: €78k▲ +3.4% vs 2021highest in 7 years
2023: €70k▼ -10.2% vs 2022
2024: €30k▼ -57.0% vs 2023
2025: €6k▼ -81.7% vs 2024lowest in 7 years
2019 → 2025
Total assets
€6k▼ 85.4%
2024 · €39k
2019: €170khighest in 7 years
2020: €152k▼ -10.5% vs 2019
2021: €138k▼ -9.4% vs 2020
2022: €164k▲ +18.8% vs 2021
2023: €123k▼ -24.7% vs 2022
2024: €39k▼ -68.4% vs 2023
2025: €6k▼ -85.4% vs 2024lowest in 7 years
2019 → 2025
Net result
€-25k▲ 38.3%
2024 · €-40k
2019: €15k
2020: €24k▲ +55.4% vs 2019highest in 7 years
2021: €18k▼ -24.9% vs 2020
2022: €3k▼ -85.7% vs 2021
2023: €-8k▼ -410% vs 2022
2024: €-40k▼ -403% vs 2023lowest in 7 years
2025: €-25k▲ +38.3% vs 2024
2019 → 2025
Working capital
€60▼ 99.7%
2024 · €21k
2019: €44k
2020: €58k▲ +32.0% vs 2019
2021: €67k▲ +14.1% vs 2020highest in 7 years
2022: €64k▼ -3.2% vs 2021
2023: €59k▼ -8.4% vs 2022
2024: €21k▼ -64.0% vs 2023
2025: €60▼ -99.7% vs 2024lowest in 7 years
2019 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€76k-€78k▲ 3.4%€70k▼ 10.2%€30k▼ 57.0%€6k▼ 81.7%
2021: €76k
2022: €78k▲ +3.4% vs 2021highest in 5 years
2023: €70k▼ -10.2% vs 2022
2024: €30k▼ -57.0% vs 2023
2025: €6k▼ -81.7% vs 2024lowest in 5 years
Operating result€26k-€7k▼ 74.5%€-872€-37k▼ 4,143%€-23k▲ 36.6%
2021: €26khighest in 5 years
2022: €7k▼ -74.5% vs 2021
2023: €-872▼ -113% vs 2022
2024: €-37k▼ -4143% vs 2023lowest in 5 years
2025: €-23k▲ +36.6% vs 2024
Net result€18k-€3k▼ 85.7%€-8k€-40k▼ 403%€-25k▲ 38.3%
2021: €18khighest in 5 years
2022: €3k▼ -85.7% vs 2021
2023: €-8k▼ -410% vs 2022
2024: €-40k▼ -403% vs 2023lowest in 5 years
2025: €-25k▲ +38.3% vs 2024
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 €23k in 2025 against €37k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €6k
Fixed assets
€6k ▼ 39.6%
Current assets
€199 ▼ 99.3%
Equity and liabilities €6k
Equity
€6k ▼ 81.7%
Debt
€139 ▼ 98.4%
Debt's share of the balance-sheet total falls from 22.2% to 2.4%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-21k▲
2024 · €-35k
Cash flow
€-22k▲
2024 · €-38k
Current ratio
1.43▼
2024 · 3.45
Debt to equity
0.03▼
2024 · 0.29
ROE
-445.6%▼
2024 · -132.4%
ROA
-434.7%▼
2024 · -103.0%
Interest coverage
-16.32▼
2024 · -9.27
Debt ≤ 1 year
€139▼
2024 · €9k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 42 lines
Balance sheet
Code20242025
Assets
Total assets20/58€39k€6k▼
Fixed assets21/28€9k€6k▼
Intangible fixed assets21€8k€6k▼
Tangible fixed assets22/27€109-
Furniture and vehicles24€109-
Financial fixed assets28€1k-
Current assets29/58€30k€199▼
Stocks and contracts in progress3€22k-
Stocks30/36€22k-
Amounts receivable within one year40/41€7k€29▼
Other amounts receivable41€7k€29▼
Cash at bank and in hand54/58€929€170▼
Equity and liabilities
Total equity and liabilities10/49€39k€6k▼
Equity10/15€30k€6k▼
Contributions10/11€19k€19k=
Reserves13€2k€2k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Profit (loss) carried forward14€10k€-15k▼
Amounts payable17/49€9k€139▼
Amounts payable within one year42/48€9k€139▼
Trade debts44€2k-
Suppliers440/4€2k-
Taxes, remuneration and social security45€2k-
Taxes450/3€812-
Remuneration and social security454/9€839-
Other amounts payable47/48€5k€139▼
Income statement
Code20242025
Remuneration, social security and pensions62€20k-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2k€2k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€9k€22k▲
Other operating charges640/8€1k€1k▲
Gross operating margin9900€-4k€2k▲
Operating profit (loss)9901€-37k€-23k▲
Financial income75/76B€591-
Recurring financial income75€591-
Financial charges65/66B€4k€1k▼
Recurring financial charges65€4k€1k▼
Profit (loss) for the period before taxes9903€-40k€-25k▲
Profit (loss) for the period9904€-40k€-25k▲
Profit (loss) for the period to be appropriated9905€-40k€-25k▲
Appropriation of the result
Profit (loss) to be appropriated9906€10k€-15k▼
Profit (loss) brought forward from the previous period14P€50k€10k▼
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €38k | €30k | €38k | €20k | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7k | €5k | €3k | €2k | €2k | ▼ 2.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €9k | €22k | ▲ 133% |
| Other operating charges640/8 | €916 | €1k | €2k | €1k | €1k | ▲ 20.3% |
| Gross operating margin9900 | €72k | €43k | €42k | €-4k | €2k | ▲ 156% |
| Operating profit (loss)9901 | €26k | €7k | €-872 | €-37k | €-23k | ▲ 36.6% |
| Financial income75/76B | €108 | €7 | €1k | €591 | - | - |
| Recurring financial income75 | €108 | €7 | €1k | €591 | - | - |
| Non-recurring financial income76B | - | - | €1k | - | - | - |
| Financial charges65/66B | €3k | €3k | €2k | €4k | €1k | ▼ 65.3% |
| Recurring financial charges65 | €3k | €3k | €2k | €4k | €1k | ▼ 65.3% |
| Profit (loss) for the period before taxes9903 | €23k | €4k | €-985 | €-40k | €-25k | ▲ 38.3% |
| Income taxes67/77 | €5k | €975 | €7k | - | - | - |
| Profit (loss) for the period9904 | €18k | €3k | €-8k | €-40k | €-25k | ▲ 38.3% |
| Profit (loss) for the period to be appropriated9905 | €18k | €3k | €-8k | €-40k | €-25k | ▲ 38.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €138k | €164k | €123k | €39k | €6k | ▼ 85.4% |
| Fixed assets21/28 | €19k | €14k | €11k | €9k | €6k | ▼ 39.6% |
| Intangible fixed assets21 | €14k | €12k | €10k | €8k | €6k | ▼ 28.6% |
| Tangible fixed assets22/27 | €3k | €617 | €264 | €109 | - | - |
| Furniture and vehicles24 | €3k | €617 | €264 | €109 | - | - |
| Financial fixed assets28 | €1k | €1k | €1k | €1k | - | - |
| Current assets29/58 | €119k | €150k | €112k | €30k | €199 | ▼ 99.3% |
| Stocks and contracts in progress3 | €82k | €64k | €59k | €22k | - | - |
| Stocks30/36 | €82k | €64k | €59k | €22k | - | - |
| Amounts receivable within one year40/41 | €15k | €26k | €25k | €7k | €29 | ▼ 99.6% |
| Trade receivables40 | €9k | €19k | €18k | - | - | - |
| Other amounts receivable41 | €5k | €7k | €7k | €7k | €29 | ▼ 99.6% |
| Cash at bank and in hand54/58 | €22k | €59k | €27k | €929 | €170 | ▼ 81.7% |
| Deferred charges and accrued income490/1 | - | €470 | €496 | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €138k | €164k | €123k | €39k | €6k | ▼ 85.4% |
| Equity10/15 | €76k | €78k | €70k | €30k | €6k | ▼ 81.7% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €2k | €2k | €2k | €2k | €2k | = |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | €2k | €2k | €2k | €2k | €2k | = |
| Profit (loss) carried forward14 | €55k | €58k | €50k | €10k | €-15k | ▼ 251% |
| Amounts payable17/49 | €62k | €85k | €53k | €9k | €139 | ▼ 98.4% |
| Amounts payable after more than one year17 | €10k | - | - | - | - | - |
| Financial debts170/4 | €10k | - | - | - | - | - |
| Amounts payable within one year42/48 | €52k | €85k | €53k | €9k | €139 | ▼ 98.4% |
| Current portion of amounts payable after more than one year42 | €21k | €10k | - | - | - | - |
| Trade debts44 | €15k | €58k | €37k | €2k | - | - |
| Suppliers440/4 | €15k | €58k | €37k | €2k | - | - |
| Taxes, remuneration and social security45 | €16k | €16k | €13k | €2k | - | - |
| Taxes450/3 | €7k | €6k | €795 | €812 | - | - |
| Remuneration and social security454/9 | €9k | €10k | €12k | €839 | - | - |
| Other amounts payable47/48 | - | €1k | €3k | €5k | €139 | ▼ 97.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €18k | €3k | €-8k | €-40k | €-25k | ▲ 38.3% |
| + Depreciation and write-downs630 | €7k | €5k | €3k | €2k | €2k | ▼ 2.0% |
| Operating cash flow (approximation) | €25k | €7k | €-5k | €-38k | €-22k | ▲ 40.6% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €1k | - |
| Change in cash | - | €37k | €-32k | €-27k | €-759 | ▲ 97.1% |
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
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 28 days late
2025
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 61 days late
2024
31-12
Financial
Weakest financial yearnet €-40k
Net result drops to €-40k, the lowest in the series; recovery starts the following year.
29-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 60 days late
2023
30-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 61 days late
2022
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
2021
28-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 28 days late
2020
31-12
Financial
Highest result since 2019net €24k ▲55.4%
Operating result €34k, net result €24k, both a record.
16-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
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.
Have them read with priority
Sign in to place this company at the front of the reading queue.
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, Gedinne · 1 establishment unit since 2018
Ground area
680 m²
Building footprint
55 m²
Volume, LiDAR
431 m³
Parcel 91054A0477/00V002, Wallonia · tallest building 10.2 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Rimes et Bulles
since 20182.276.963.746
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 91054A0477/00V002 | Wallonia | 680 m² | 1 · 55 m² | 10.2 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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteGedinne2.276.963.746
Similar companies · same sector, comparable size
SF PRODUCTION
BE 0430.114.925
Sint-Genesius-Rode · Eq €5,597
SCRIPTA, BOOKS & TOYS
BE 0890.367.849
Kortrijk · Eq €5,491
H.A.B. GROUP
BE 1016.020.560
Sint-Jans-Molenbeek · Eq €5,641
Yernaux-Diffusion
BE 0422.995.818
Châtelet · Eq €5,443
VanFid
BE 0786.681.876
Hasselt · Eq €5,691
Of 2,347 companies in sector 47621 we hold annual accounts for 1,248. 451 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 (pre-2019)
Founded26-06-2018
Fiscal year end31-12
Activities, NACEBEL 2025
47621Retail sale of newspapers and periodicals
Contact
E-mail
rimesetbulles@hotmail.comGedinne
Phone
061/588.356Gedinne
Scores and ratios are computed by Checked and are not a credit decision.