Summary
MAKIA is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €191,146 and a net result of €79,071. Equity is growing by about 23% per year across the filed financial years. Its solvency ranks better than 65% of 3,039 sector peers (NACE 66, financial year 2025). The company has been active since 2016 and the Belgian Official Gazette contains no insolvency or warning signals.
Financials · financial year 2025, micro format
Equity
€191,146▲ 69.0%
2024 · €113,075
Net result
€79,071▼ 22.7%
2024 · €102,327
Total assets
€291,920▲ 0.3%
2024 · €291,102
Solvency
65.5%▲ 26.6pp
2024 · 38.8%
Trend over the years
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result falls in 2025; 2025 is 22% below 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€114,716
2025
Net result€79,071
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€291,920
2025
Equity€191,146
2025
Debt€100,774
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€2,924
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)27.1%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency65.5%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio1.08
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 66, Activities auxiliary to financial services and insurance activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€13,517-€2,748▼ 79.7%€140,764▲ 51×€88,261▼ 37.3%€84,817▼ 3.9%€147,281▲ 73.6%€114,716▼ 22.1%
Net result€5,195--€2,213below the sector's middle half€101,105within the sector's middle half€61,730within the sector's middle half▼ 38.9%€56,407within the sector's middle half▼ 8.6%€102,327above the sector's middle half▲ 81.4%€79,071within the sector's middle half▼ 22.7%
Equity€55,331-€52,306below the sector's middle half▼ 5.5%€50,411below the sector's middle half▼ 3.6%€50,141below the sector's middle half▼ 0.5%€106,548within the sector's middle half▲ 112%€113,075within the sector's middle half▲ 6.1%€191,146within the sector's middle half▲ 69.0%
Total assets€118,466-€114,535below the sector's middle half▼ 3.3%€230,896below the sector's middle half▲ 102%€180,453below the sector's middle half▼ 21.8%€281,696within the sector's middle half▲ 56.1%€291,102within the sector's middle half▲ 3.3%€291,920within the sector's middle half▲ 0.3%
Debt€63,135-€62,229▼ 1.4%€180,484▲ 190%€130,312▼ 27.8%€175,147▲ 34.4%€178,027▲ 1.6%€100,774▼ 43.4%
Working capital-€50,375--€52,603below the sector's middle half▼ 4.4%-€57,076below the sector's middle half▼ 8.5%-€80,785below the sector's middle half▼ 41.5%-€62,031below the sector's middle half▲ 23.2%-€55,683below the sector's middle half▲ 10.2%€2,924within the sector's middle half
Solvency46.7%-45.7%within the sector's middle half▼ 1.0pp21.8%within the sector's middle half▼ 23.8pp27.8%within the sector's middle half▲ 6.0pp37.8%within the sector's middle half▲ 10.0pp38.8%within the sector's middle half▲ 1.0pp65.5%within the sector's middle half▲ 26.6pp
Current ratio0.20-0.15below the sector's middle half▼ 0.050.68below the sector's middle half▲ 0.530.38below the sector's middle half▼ 0.300.26below the sector's middle half▼ 0.120.39below the sector's middle half▲ 0.131.08within the sector's middle half▲ 0.69
Return on assets (ROA)4.4%--1.9%below the sector's middle half▼ 6.3pp43.8%above the sector's middle half▲ 45.7pp34.2%above the sector's middle half▼ 9.6pp20.0%above the sector's middle half▼ 14.2pp35.2%above the sector's middle half▲ 15.1pp27.1%above the sector's middle half▼ 8.1pp
above
within
below
the middle half of NACE 66, Activities auxiliary to financial services and insurance activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin not published: the abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €291,920
Fixed assets
€252,102 ▼ 1.2%
Current assets
€39,818 ▲ 11.1%
Equity and liabilities €291,920
Equity
€191,146 ▲ 69.0%
Debt
€100,774 ▼ 43.4%
Debt's share of the balance-sheet total falls from 61.2% to 34.5%. Equity is higher and debt is lower.
Key figures and ratios
ROE
41.4%▼
2024 · 90.5%
Debt ≤ 1 year
€36,894▼
2024 · €91,530
Debt > 1 year
€63,880▼
2024 · €86,497
Income taxes
€27,802▼
2024 · €36,469
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,412 | €1,496 | €850 | €2,376 | €5,491 | €5,790 | €5,211 | ▼ 10.0% |
| Other operating charges640/8 | - | - | - | €413 | €290 | €4,008 | €4,276 | ▲ 6.7% |
| Non-recurring operating charges66A | - | - | - | €1,298 | €0 | - | - | - |
| Gross operating margin9900 | €16,219 | €4,397 | €141,723 | €92,348 | €90,597 | €157,080 | €124,203 | ▼ 20.9% |
| Operating profit (loss)9901 | €13,517 | €2,748 | €140,764 | €88,261 | €84,817 | €147,281 | €114,716 | ▼ 22.1% |
| Financial income75/76B | - | - | - | - | €16 | €0 | - | - |
| Recurring financial income75 | €0 | - | - | - | €16 | €0 | - | - |
| Financial charges65/66B | - | - | - | €2,144 | €5,651 | €8,485 | €7,844 | ▼ 7.6% |
| Recurring financial charges65 | €2,047 | €1,484 | €2,073 | €2,144 | €5,651 | €8,485 | €7,844 | ▼ 7.6% |
| Profit (loss) for the period before taxes9903 | €11,470 | €1,264 | €138,691 | €86,116 | €79,182 | €138,796 | €106,873 | ▼ 23.0% |
| Income taxes67/77 | €6,275 | €3,476 | €37,586 | €24,387 | €22,774 | €36,469 | €27,802 | ▼ 23.8% |
| Profit (loss) for the period9904 | €5,195 | -€2,213 | €101,105 | €61,730 | €56,407 | €102,327 | €79,071 | ▼ 22.7% |
| Profit (loss) for the period to be appropriated9905 | €5,195 | -€2,213 | €101,105 | €61,730 | €56,407 | €102,327 | €79,071 | ▼ 22.7% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €118,466 | €114,535 | €230,896 | €180,453 | €281,696 | €291,102 | €291,920 | ▲ 0.3% |
| Fixed assets21/28 | €105,706 | €104,909 | €107,487 | €130,926 | €259,686 | €255,254 | €252,102 | ▼ 1.2% |
| Tangible fixed assets22/27 | €1,706 | €909 | €3,487 | €26,926 | €23,287 | €18,856 | €15,704 | ▼ 16.7% |
| Plant, machinery and equipment23 | - | - | - | €10,497 | €9,115 | €9,009 | €9,214 | ▲ 2.3% |
| Furniture and vehicles24 | - | - | - | €16,428 | €14,173 | €9,847 | €6,490 | ▼ 34.1% |
| Financial fixed assets28 | €104,000 | €104,000 | €104,000 | €104,000 | €236,398 | €236,398 | €236,398 | = |
| Current assets29/58 | €12,760 | €9,626 | €123,408 | €49,527 | €22,010 | €35,848 | €39,818 | ▲ 11.1% |
| Amounts receivable within one year40/41 | €853 | €853 | €7,772 | €1,433 | €293 | €0 | - | - |
| Trade receivables40 | - | - | - | €1,433 | €0 | - | - | - |
| Other amounts receivable41 | - | - | - | - | €293 | €0 | - | - |
| Cash at bank and in hand54/58 | €11,557 | €8,407 | €115,270 | €48,095 | €21,717 | €35,762 | €39,818 | ▲ 11.3% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | €86 | €0 | ▼ 100% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €118,466 | €114,535 | €230,896 | €180,453 | €281,696 | €291,102 | €291,920 | ▲ 0.3% |
| Equity10/15 | €55,331 | €52,306 | €50,411 | €50,141 | €106,548 | €113,075 | €191,146 | ▲ 69.0% |
| Contributions10/11 | €50,000 | €50,000 | - | €50,000 | €50,000 | €0 | - | - |
| Reserves13 | €47 | €307 | €307 | €307 | €56,714 | €113,075 | €191,146 | ▲ 69.0% |
| Non-distributable reserves130/1 | - | - | - | €307 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €307 | - | - | - | - |
| Distributable reserves133 | - | - | - | - | €56,714 | €113,075 | €191,146 | ▲ 69.0% |
| Profit (loss) carried forward14 | €5,284 | €2,000 | €105 | -€166 | -€166 | €0 | €0 | - |
| Amounts payable17/49 | €63,135 | €62,229 | €180,484 | €130,312 | €175,147 | €178,027 | €100,774 | ▼ 43.4% |
| Amounts payable after more than one year17 | - | - | - | - | €88,229 | €86,497 | €63,880 | ▼ 26.1% |
| Financial debts170/4 | - | - | - | - | €88,229 | €86,497 | €63,880 | ▼ 26.1% |
| Amounts payable within one year42/48 | €63,135 | €62,229 | €180,484 | €130,312 | €84,041 | €91,530 | €36,894 | ▼ 59.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €43,373 | €44,811 | €30,203 | ▼ 32.6% |
| Trade debts44 | €6,737 | €8,612 | €12,498 | €12,090 | €780 | €226 | €363 | ▲ 61.0% |
| Suppliers440/4 | - | - | - | €12,090 | €780 | €226 | €363 | ▲ 61.0% |
| Taxes, remuneration and social security45 | - | - | - | €9,387 | €677 | €1,469 | €5,302 | ▲ 261% |
| Taxes450/3 | - | - | - | €9,387 | €677 | €1,469 | €5,302 | ▲ 261% |
| Other amounts payable47/48 | - | - | - | €108,836 | €39,211 | €45,025 | €1,026 | ▼ 97.7% |
| Accrued charges and deferred income492/3 | - | - | - | - | €2,877 | €0 | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €5,195 | -€2,213 | €101,105 | €61,730 | €56,407 | €102,327 | €79,071 | ▼ 22.7% |
| + Depreciation and write-downs630 | €2,412 | €1,496 | €850 | €2,376 | €5,491 | €5,790 | €5,211 | ▼ 10.0% |
| Operating cash flow (approximation) | €7,607 | -€716 | €101,955 | €64,106 | €61,898 | €108,117 | €84,282 | ▼ 22.0% |
| Investment in fixed assets (approximation) | - | -€699 | -€3,428 | -€25,815 | -€134,251 | -€1,359 | -€2,059 | ▼ 51.5% |
| Change in cash | - | -€3,150 | €106,863 | -€67,176 | -€26,377 | €14,045 | €4,056 | ▼ 71.1% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (8)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 30-06-2025 | micro format | 17-12-2025 | 2025-00584908 |
| 30-06-2024 | micro format | 02-01-2025 | 2025-00630566 |
| 30-06-2023 | micro format | 30-01-2024 | 2024-00019234 |
| 30-06-2022 | abbreviated format | 27-01-2023 | 2023-00015405 |
| 30-06-2021 | abbreviated format | 05-01-2022 | 2022-00400080 |
| 30-06-2020 | abbreviated format | 28-01-2021 | 2021-03900493 |
| 30-06-2019 | abbreviated format | 30-01-2020 | 2020-04100500 |
| 30-06-2018 | abbreviated format | 29-01-2019 | 2019-02900541 |
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Of the 4,605 active companies whose main activity is insurance agents and brokers (NACE 66220), figures are known for 3,217. 2,796 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.