MAJA
ActiveSummary
MAJA has been active since 1995 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €41.0m and a net result of €21,129. Equity remains stable across the filed fiscal years (±0% per year). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability38▼-31
Solvency100=
Growth32=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000,000 at 30 days acceptable
short-term debt: 0% and cash: 0% of total assets, and 0% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
100%
Return on assets
0.1%
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
neutral · A punctual record breaks
This company filed 3 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 25-08-2026, 25 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
25 d late
2024
1 d early
2023
23 d early
2022
14 d early
2021
31 d late
2020
22 d early
2019
9 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 2 days before 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. Usually files around 30 July (4 of the last 5 filed years within 30 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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Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€21,129▼ 45.7%
2024 · €38,877
Working capital
€599,366▲ 3.7%
2024 · €578,246
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-€20,418▼ 31.1%-€11,614▲ 43.1%-€5,510▲ 52.6%€7,539-€6,523
Net result-€5,038▲ 97.8%€19,500€25,684▲ 31.7%€38,877▲ 51.4%€21,129▼ 45.7%
Equity€40.8m=€40.9m=€40.9m▲ 0.1%€40.9m▲ 0.1%€41.0m▲ 0.1%
Total assets€41.0m▼ 2.0%€40.9m▼ 0.4%€40.9m▲ 0.1%€40.9m▲ 0.1%€41.0m▲ 0.1%
Debt€168,980▼ 83.2%€1,429▼ 99.2%€2,787▲ 95.1%€518▼ 81.4%€6,042▲ 1,066%
Working capital€489,443▼ 0.6%€510,982▲ 4.4%€537,235▲ 5.1%€578,246▲ 7.6%€599,366▲ 3.7%
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €6,523 after €7,539 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €41.0m
Fixed assets
€40.4m =
Current assets
€605,408 ▲ 4.6%
Equity and liabilities €41.0m
Equity
€41.0m ▲ 0.1%
Debt
€6,042 ▲ 1,066%
Debt's share of the balance-sheet total stays at 0.0%.
Key figures and ratios
Debt to equity
0.00▲
2024 · 0.00
ROE
0.1%▼
2024 · 0.1%
ROA
0.1%▼
2024 · 0.1%
Debt ≤ 1 year
€6,042▲
2024 · €518
A ratio outside any meaningful range has been withheld (balance sheet total €41.0m, equity €41.0m).
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 |
|---|---|---|---|---|---|---|
| Operating income70/76A | €0 | - | - | €100 | €0 | ▼ 100% |
| Other operating income74 | €0 | - | - | €100 | €0 | ▼ 100% |
| Operating charges60/66A | €20,418 | €11,614 | €5,510 | -€7,439 | €6,523 | ▲ 188% |
| Services and other goods61 | €16,172 | €8,472 | €7,269 | €4,712 | €5,002 | ▲ 6.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,135 | €1,954 | €551 | €0 | - | - |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | -€3,976 | -€15,912 | €0 | ▲ 100% |
| Other operating charges640/8 | €2,111 | €1,189 | €1,666 | €1,526 | €1,521 | ▼ 0.3% |
| Non-recurring operating charges66A | - | - | - | €2,236 | €0 | ▼ 100% |
| Operating profit (loss)9901 | -€20,418 | -€11,614 | -€5,510 | €7,539 | -€6,523 | ▼ 187% |
| Financial income75/76B | €32,259 | €32,250 | €32,250 | €32,293 | €32,250 | ▼ 0.1% |
| Recurring financial income75 | €32,259 | €32,250 | €32,250 | €32,293 | €32,250 | ▼ 0.1% |
| Income from current assets751 | €32,250 | €32,250 | €32,250 | €32,293 | €32,250 | ▼ 0.1% |
| Other financial income752/9 | €9 | €0 | €0 | €0 | - | - |
| Financial charges65/66B | €16,879 | €1,136 | €1,056 | €954 | €4,599 | ▲ 382% |
| Recurring financial charges65 | €16,879 | €1,136 | €1,056 | €954 | €4,599 | ▲ 382% |
| Debt charges650 | €15,990 | €0 | - | - | - | - |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals)651 | - | - | - | - | €3,661 | - |
| Other financial charges652/9 | €889 | €1,136 | €1,056 | €954 | €938 | ▼ 1.7% |
| Non-recurring financial charges66B | €0 | - | - | - | - | - |
| Profit (loss) for the period before taxes9903 | -€5,038 | €19,500 | €25,684 | €38,877 | €21,129 | ▼ 45.7% |
| Profit (loss) for the period9904 | -€5,038 | €19,500 | €25,684 | €38,877 | €21,129 | ▼ 45.7% |
| Profit (loss) for the period to be appropriated9905 | -€5,038 | €19,500 | €25,684 | €38,877 | €21,129 | ▼ 45.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €41.0m | €40.9m | €40.9m | €40.9m | €41.0m | ▲ 0.1% |
| Fixed assets21/28 | €40.4m | €40.4m | €40.4m | €40.4m | €40.4m | = |
| Tangible fixed assets22/27 | €4,741 | €2,786 | €2,236 | €0 | - | - |
| Furniture and vehicles24 | €4,741 | €2,786 | €2,236 | €0 | - | - |
| Financial fixed assets28 | €40.4m | €40.4m | €40.4m | €40.4m | €40.4m | = |
| Affiliated companies280/1 | €40.4m | €40.4m | €40.4m | €40.4m | €40.4m | = |
| Participating interests280 | €38.2m | €38.2m | €38.2m | €38.2m | €38.2m | = |
| Amounts receivable281 | €2.2m | €2.2m | €2.2m | €2.2m | €2.2m | = |
| Other financial fixed assets284/8 | €1,850 | €1,850 | €1,850 | €1,850 | €1,850 | = |
| Shares284 | €1,850 | €1,850 | €1,850 | €1,850 | €1,850 | = |
| Current assets29/58 | €658,423 | €512,326 | €539,919 | €578,764 | €605,408 | ▲ 4.6% |
| Stocks and contracts in progress3 | €0 | €0 | €0 | €0 | €0 | - |
| Amounts receivable within one year40/41 | €645,011 | €511,586 | €534,776 | €567,069 | €590,849 | ▲ 4.2% |
| Other amounts receivable41 | €645,011 | €511,586 | €534,776 | €567,069 | €590,849 | ▲ 4.2% |
| Cash at bank and in hand54/58 | €13,413 | €740 | €5,143 | €11,695 | €14,559 | ▲ 24.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €41.0m | €40.9m | €40.9m | €40.9m | €41.0m | ▲ 0.1% |
| Equity10/15 | €40.8m | €40.9m | €40.9m | €40.9m | €41.0m | ▲ 0.1% |
| Contributions10/11 | €38.9m | €38.9m | €38.9m | €38.9m | €38.9m | = |
| Capital10 | €29.9m | €29.9m | €29.9m | €29.9m | €29.9m | = |
| Issued capital100 | €29.9m | €29.9m | €29.9m | €29.9m | €29.9m | = |
| Outside capital11 | €9.0m | €9.0m | €9.0m | €9.0m | €9.0m | = |
| Share premium1100/10 | €9.0m | €9.0m | €9.0m | €9.0m | €9.0m | = |
| Reserves13 | €151,822 | €152,797 | €178,481 | €217,358 | €238,488 | ▲ 9.7% |
| Non-distributable reserves130/1 | €151,822 | €152,797 | €178,481 | €217,358 | €238,488 | ▲ 9.7% |
| Legal reserve130 | €151,822 | €152,797 | €178,481 | €217,358 | €238,488 | ▲ 9.7% |
| Profit (loss) carried forward14 | €1.8m | €1.8m | €1.8m | €1.8m | €1.8m | = |
| Amounts payable17/49 | €168,980 | €1,429 | €2,787 | €518 | €6,042 | ▲ 1,066% |
| Amounts payable within one year42/48 | €168,980 | €1,344 | €2,684 | €518 | €6,042 | ▲ 1,066% |
| Current portion of amounts payable after more than one year42 | €0 | - | - | - | - | - |
| Trade debts44 | €7,455 | €1,344 | €2,684 | €518 | €6,042 | ▲ 1,066% |
| Suppliers440/4 | €7,455 | €1,344 | €2,684 | €518 | €6,042 | ▲ 1,066% |
| Taxes, remuneration and social security45 | €0 | - | - | - | - | - |
| Taxes450/3 | €0 | - | - | - | - | - |
| Other amounts payable47/48 | €161,525 | €0 | - | - | - | - |
| Accrued charges and deferred income492/3 | - | €84 | €103 | €0 | €0 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€5,038 | €19,500 | €25,684 | €38,877 | €21,129 | ▼ 45.7% |
| + Depreciation and write-downs630 | €2,135 | €1,954 | €551 | €0 | - | - |
| Operating cash flow (approximation) | -€2,903 | €21,454 | €26,235 | €38,877 | €21,129 | ▼ 45.7% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €2,236 | -€9 | ▼ 100% |
| Change in cash | - | -€12,672 | €4,403 | €6,552 | €2,864 | ▼ 56.3% |
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
25-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 25 days late
2025
30-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
04-07
State Gazette act
General meeting · Auditor reappointment
Director appointment · Permanent representative
2024
31-12
Financial
Liquidity times 6current ratio 1117.20
Current ratio from 201.13 to 1117.20; short-term debt falls from €2,684 to €518.
08-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
23-08
State Gazette act
General meeting · Board meeting
Director resignation · Director discharge
25-07
State Gazette act
General meeting · Board meeting
Director resignation · Director discharge
17-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
29-03
State Gazette act
General meeting · Director reappointment
Auditor reappointment · Power of attorney
30-01
State Gazette act
General meeting · Director reappointment
Permanent representative · Auditor reappointment
2022
31-12
Financial
Back to profitnet €19,500
Net result €19,500 after 2 loss-making years.
31-12
Financial
Liquidity times 98current ratio 381.07
Current ratio from 3.90 to 381.07; short-term debt falls from €168,980 to €1,344.
Show earlier events
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 31 days late
2021
31-12
Financial
Liquidity triplescurrent ratio 3.90
Current ratio from 1.49 to 3.90; short-term debt falls from €1.0m to €168,980.
09-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Weakest financial yearnet -€229,446
Net result drops to -€229,446, the lowest in the series; recovery starts the following year.
22-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Highest result since 2018net €413,313 ▲669%
Net result €413,313, the highest in the series.
16-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
10-09
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 41 days late
2017
23-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2015
29-10
State Gazette act
General meeting · Approval
Shareholding · Capital
2014
14-08
State Gazette act
General meeting · Director resignation
Director discharge · Director appointment
19-06
State Gazette act
General meeting · Director resignation
Director discharge · Director appointment
2011
05-07
State Gazette act
General meeting · Statutes amendment
Corporate purpose · Capital
13-01
State Gazette act
Incorporation · Founding capital
Corporate purpose · First fiscal year
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 13 acts read
About the unread acts
We know of 13 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
13 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, Etterbeek · 1 establishment unit since 1995
Ground area
3,610 m²
Building footprint
3,528 m²
Volume, LiDAR
55,433 m³
Parcel 21362B0225/00Z005, Brussels · tallest building 22.8 m, ±5 floors. Linked by address, not a title deed.
57
companies at this address
See who is registered here
1 establishment unit
MAJA
since 19952.073.873.262
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21362B0225/00Z005 | Brussels | 3,610 m² | 1 · 3,528 m² | 22.8 m · 5 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.
Structure & network
Owners and holdings
1 owner · 2 holdings · 7 subsidiaries in the treeChain of control
- COMPAGNIE DE DEVELOPPEMENT DES MEDIAS SALU
- MAJA
Highest known parent: COMPAGNIE DE DEVELOPPEMENT DES MEDIAS SA (Luxembourg). The sources do not say who stands above it.
Owners 1
- COMPAGNIE DE DEVELOPPEMENT DES MEDIAS SALUparentSourceown accounts 2025100%
Holdings 2
-
100%
-
100%
All subsidiaries, including indirect ones 7
Companies in which this company or one of its subsidiaries holds more than half, or which it consolidates according to the LEI register.
- EUROPEAN TELEMATICS 100%
IPM Group 100%5 subsidiaries
- Editions de l’Avenir Presse 100%
- L'AVENIR HEBDO S.A. 100%
- M-SKILLS 100%
According to the 2025 annual accounts of MAJA 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
3 connected companiesThis company
Company
Director
Shareholding
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Linked via shared directors
Ownership & control
3 board mandatesBoard mandates of this companythis company sits on their board3
Identification & contact
Identification
Legal formPublic limited company
Founded27-09-1995
Fiscal year end31-12
E-invoicing
Not found in the Peppol register
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
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If you follow this company, Checked tells you the day it appears in the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.