MALAGO
ActiveSummary
MALAGO has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.9m and a net result of €242,623. Equity is growing by ~62.6% per year across the filed fiscal years. Its solvency ranks better than 34% of 8737 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability74▼-8
Solvency59▼-6
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €130,000 at 30 days acceptable
Liquidity ample (current ratio 1.86 against 2.57 in 2024; short-term debt: 10.4% and cash: 3.7% of total assets), but 66.1% of the assets are financed with debt.
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Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
33.9%
Return on assets
4.4%
Age of the figures
9 mo
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 02-06-2026, 59 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
59 d early
2024
27 d late
2023
50 d early
2022
17 d early
2021
27 d early
2020
52 d early
2019
56 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 33 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% 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, abbreviated schema
Equity
€1.9m▲ 5.9%
2024 · €1.8m
Total assets
€5.5m▲ 25.0%
2024 · €4.4m
Net result
€242,623▼ 46.7%
2024 · €455,298
Working capital
€485,588▼ 30.4%
2024 · €697,778
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€234,763▼ 2.0%€713,244▲ 204%€428,640▼ 39.9%€635,761▲ 48.3%€379,499▼ 40.3%
Net result€155,988▲ 3.6%€517,853▲ 232%€302,886▼ 41.5%€455,298▲ 50.3%€242,623▼ 46.7%
Equity€474,016▲ 49.0%€991,868▲ 109%€1.3m▲ 30.5%€1.8m▲ 35.2%€1.9m▲ 5.9%
Total assets€2.5m▲ 58.1%€3.3m▲ 30.6%€4.0m▲ 21.0%€4.4m▲ 9.7%€5.5m▲ 25.0%
Debt€2.0m▲ 60.4%€2.3m▲ 12.4%€2.7m▲ 16.9%€2.6m▼ 2.5%€3.6m▲ 37.6%
Working capital-€104,347€259,201€418,496▲ 61.5%€697,778▲ 66.7%€485,588▼ 30.4%
Staff (FTE)0
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Why a figure moved sharply
- 2024 Net result +50% on 2023. The accounts now follow the abbreviated schema, last year the micro schema.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 40% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €5.5m
Fixed assets
€4.4m ▲ 36.5%
Current assets
€1.1m ▼ 7.9%
Equity and liabilities €5.5m
Equity
€1.9m ▲ 5.9%
Debt
€3.6m ▲ 37.6%
Debt's share of the balance-sheet total rises from 60.0% to 66.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€775,822▼
2024 · €823,274
Cash flow
€638,945▼
2024 · €642,811
Current ratio
1.86▼
2024 · 2.57
Debt to equity
1.95▲
2024 · 1.50
ROE
13.1%▼
2024 · 26.0%
ROA
4.4%▼
2024 · 10.4%
Interest coverage
8.66▼
2024 · 13.51
Debt ≤ 1 year
€566,113▲
2024 · €443,694
Debt > 1 year
€3.0m▲
2024 · €2.2m
Income taxes
€73,466▼
2024 · €146,333
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,637 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 96% are still going.
- Small
- 5 to 10 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
0.4%
went bankrupt
3.6%
stopped otherwise
96%
still going
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.1% 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 1,637 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €0 | - | - | - | €13,099 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €130,674 | €129,847 | €158,549 | €187,513 | €396,322 | ▲ 111% |
| Other operating charges640/8 | €6,225 | €8,010 | €11,475 | €10,709 | €13,746 | ▲ 28.4% |
| Gross operating margin9900 | €371,662 | €851,101 | €598,665 | €833,983 | €789,567 | ▼ 5.3% |
| Operating profit (loss)9901 | €234,763 | €713,244 | €428,640 | €635,761 | €379,499 | ▼ 40.3% |
| Financial income75/76B | €3,973 | €10,946 | €19,129 | €26,790 | €26,167 | ▼ 2.3% |
| Recurring financial income75 | €3,973 | €10,946 | €19,129 | €26,790 | €26,167 | ▼ 2.3% |
| Financial charges65/66B | €35,022 | €38,777 | €47,768 | €60,920 | €89,577 | ▲ 47.0% |
| Recurring financial charges65 | €35,022 | €38,777 | €47,768 | €60,920 | €89,577 | ▲ 47.0% |
| Profit (loss) for the period before taxes9903 | €203,714 | €685,413 | €400,002 | €601,631 | €316,089 | ▼ 47.5% |
| Income taxes67/77 | €47,726 | €167,561 | €97,116 | €146,333 | €73,466 | ▼ 49.8% |
| Profit (loss) for the period9904 | €155,988 | €517,853 | €302,886 | €455,298 | €242,623 | ▼ 46.7% |
| Profit (loss) for the period to be appropriated9905 | €155,988 | €517,853 | €302,886 | €455,298 | €242,623 | ▼ 46.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.5m | €3.3m | €4.0m | €4.4m | €5.5m | ▲ 25.0% |
| Fixed assets21/28 | €2.1m | €2.5m | €2.8m | €3.2m | €4.4m | ▲ 36.5% |
| Tangible fixed assets22/27 | €2.1m | €2.5m | €2.8m | €3.2m | €4.4m | ▲ 36.5% |
| Land and buildings22 | €2.1m | €2.4m | €2.8m | €3.1m | €4.3m | ▲ 38.8% |
| Plant, machinery and equipment23 | - | - | €12,119 | €20,912 | €18,005 | ▼ 13.9% |
| Furniture and vehicles24 | €32,046 | €22,281 | €12,856 | €83,088 | €67,458 | ▼ 18.8% |
| Other tangible fixed assets26 | €22,012 | €37,503 | €31,240 | €33,249 | €31,972 | ▼ 3.8% |
| Current assets29/58 | €403,375 | €830,414 | €1.1m | €1.1m | €1.1m | ▼ 7.9% |
| Amounts receivable after more than one year29 | €143,465 | €398,880 | €531,983 | €575,416 | €471,066 | ▼ 18.1% |
| Other amounts receivable291 | €143,465 | €398,880 | €531,983 | €575,416 | €471,066 | ▼ 18.1% |
| Amounts receivable within one year40/41 | €126,087 | €298,105 | €530,792 | €303,847 | €366,862 | ▲ 20.7% |
| Trade receivables40 | €29,380 | €33,239 | €16,671 | €31,702 | €32,100 | ▲ 1.3% |
| Other amounts receivable41 | €96,708 | €264,866 | €514,121 | €272,145 | €334,762 | ▲ 23.0% |
| Cash at bank and in hand54/58 | €124,727 | €123,301 | €65,892 | €249,574 | €199,883 | ▼ 19.9% |
| Deferred charges and accrued income490/1 | €9,096 | €10,128 | €10,982 | €12,635 | €13,890 | ▲ 9.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.5m | €3.3m | €4.0m | €4.4m | €5.5m | ▲ 25.0% |
| Equity10/15 | €474,016 | €991,868 | €1.3m | €1.8m | €1.9m | ▲ 5.9% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €18,600 | ▲ 200% |
| Reserves13 | €467,816 | €985,668 | €1.3m | €1.7m | €1.8m | ▲ 5.2% |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €0 | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €0 | - | - | - |
| Distributable reserves133 | €465,956 | €983,808 | €1.3m | €1.7m | €1.8m | ▲ 5.2% |
| Profit (loss) carried forward14 | - | - | - | - | €0 | - |
| Amounts payable17/49 | €2.0m | €2.3m | €2.7m | €2.6m | €3.6m | ▲ 37.6% |
| Amounts payable after more than one year17 | €1.5m | €1.7m | €2.0m | €2.2m | €3.0m | ▲ 39.7% |
| Financial debts170/4 | €1.5m | €1.7m | €2.0m | €2.2m | €3.0m | ▲ 36.7% |
| Other amounts payable178/9 | €4,838 | €686 | €0 | €183 | €65,668 | ▲ 35,704% |
| Amounts payable within one year42/48 | €507,722 | €571,213 | €721,153 | €443,694 | €566,113 | ▲ 27.6% |
| Current portion of amounts payable after more than one year42 | €101,633 | €120,658 | €130,479 | €162,877 | €247,929 | ▲ 52.2% |
| Financial debts43 | - | €30,000 | €30,000 | €30,000 | €30,000 | = |
| Credit institutions430/8 | - | - | - | - | €30,000 | - |
| Other loans439 | - | €30,000 | €30,000 | €30,000 | €0 | ▼ 100% |
| Trade debts44 | €233,567 | €352,274 | €501,576 | €108,148 | €59,199 | ▼ 45.3% |
| Suppliers440/4 | €233,567 | €352,274 | €501,576 | €108,148 | €59,199 | ▼ 45.3% |
| Taxes, remuneration and social security45 | €15,657 | €65,831 | €56,648 | €43,228 | €40,461 | ▼ 6.4% |
| Taxes450/3 | €15,657 | €65,831 | €56,648 | €43,228 | €40,461 | ▼ 6.4% |
| Other amounts payable47/48 | €156,865 | €2,450 | €2,450 | €99,441 | €188,524 | ▲ 89.6% |
| Accrued charges and deferred income492/3 | €777 | €2,492 | €707 | €3,341 | €4,185 | ▲ 25.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €155,988 | €517,853 | €302,886 | €455,298 | €242,623 | ▼ 46.7% |
| + Depreciation and write-downs630 | €130,674 | €129,847 | €158,549 | €187,513 | €396,322 | ▲ 111% |
| Operating cash flow (approximation) | €286,661 | €647,700 | €461,435 | €642,811 | €638,945 | ▼ 0.6% |
| Investment in fixed assets (approximation) | - | -€475,023 | -€541,087 | -€573,666 | -€1.6m | ▼ 175% |
| Change in cash | - | -€1,426 | -€57,409 | €183,682 | -€49,691 | ▼ 127% |
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
02-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
27-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 27 days late
2024
11-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Equity above €1mEq €1.3m ▲30.5%
6 profitable years in a row build equity to €1.3m.
14-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Highest result since 2018net €517,853 ▲232%
Operating result €713,244, net result €517,853, both a record.
31-12
Financial
Equity above €500,000Eq €991,868 ▲109%
5 profitable years in a row build equity to €991,868.
04-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
09-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Equity above €200,000Eq €318,028 ▲90%
3 profitable years in a row build equity to €318,028.
05-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Equity above €150,000Eq €167,413 ▲217%
2 profitable years in a row build equity to €167,413.
29-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
23-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Ardooie · 1 establishment unit since 2016
Ground area
1,202 m²
Building footprint
227 m²
Volume, LiDAR
1,333 m³
Parcel 36001D0064/00C005, Flanders · tallest building 9.2 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
MALAGO
since 20162.258.172.965
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 36001D0064/00C005 | Flanders | 1,202 m² | 1 · 227 m² | 9.2 m · 2 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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Of 82,642 companies in sector 70200 we hold annual accounts for 52,590. 21,053 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
Founded24-10-2016
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0664912630
Also
9925:BE0664912630
Registered
13-01-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.