MAPACO
ActiveMAPACO has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €618k and a net result of €2k. Equity is growing by ~28.4% per year across the filed fiscal years. Its solvency ranks better than 36% of 1888 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
87
/ 100
Excellent▲ +42 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability1▲+1
Solvency72▲+38
Growth52=
Stability100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €55k at 30 days acceptable
Liquidity ample (current ratio 1.88 against 1.32 in 2024), but 67.8% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+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 25
Relative position
BE, all sectors
reference
Sector 25
higher
← fewer bankruptcies
more bankruptcies →
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
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
32.2%
Return on assets
0.1%
Age of the figures
15 mo
neutral · A punctual record breaks
This company filed 9 consecutive financial years on time. The year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 03-02-2026, 3 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
3 d late
2024
44 d early
2023
1 d early
2022
42 d early
2021
28 d early
2020
41 d early
2019
29 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close16-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€618k▲ 0.3%
2024 · €616k
2019: €167k
2020: €177k
2021: €204k
2022: €242k
2023: €692k
2024: €616k
2019 → 2025
Total assets
€1.92M▼ 37.2%
2024 · €3.06M
2019: €831k
2020: €819k
2021: €849k
2022: €1.39M
2023: €2.16M
2024: €3.06M
2019 → 2025
Net result
€2k
2024 · €-168k
2019: €5k
2020: €10k
2021: €25k
2022: €38k
2023: €470k
2024: €-168k
2019 → 2025
Working capital
€452k▼ 10.2%
2024 · €503k
2019: €-159k
2020: €46k
2021: €28k
2022: €7k
2023: €598k
2024: €503k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€204k-€242k▲ 18.6%€692k▲ 186%€616k▼ 11.0%€618k▲ 0.3%
Operating result€30k-€77k▲ 155%€489k▲ 538%€30k▼ 93.9%€29k▼ 1.8%
Net result€25k-€38k▲ 53.4%€470k▲ 1,142%€-168k€2k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 2% below 2024 and is the lowest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.92M
Fixed assets
€956k▼ 5.0%
Current assets
€965k▼ 53.0%
Equity and liabilities €1.92M
Equity
€618k▲ 0.3%
Provisions
€108k=
Debt
€1.19M▼ 48.8%
The debt ratio falls from 76.3% to 62.2%: equity grows while debt is paid down.
Key figures and ratios
EBITDA
€174k▲
2024 · €157k
Cash flow
€147k▲
2024 · €-41k
Solvency
32.2%▲
2024 · 20.1%
Current ratio
1.88▲
2024 · 1.32
Quick ratio
1.41▲
2024 · 1.09
Debt / equity
1.93▼
2024 · 3.79
ROE
0.3%▲
2024 · -27.3%
ROA
0.1%▲
2024 · -5.5%
Interest coverage
6.36▲
2024 · 5.52
Debt
€1.19M▼
2024 · €2.34M
Debt ≤ 1 year
€513k▼
2024 · €1.55M
Debt > 1 year
€674k▼
2024 · €771k
Income taxes
€546▼
2024 · €170k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€3.06M€1.92M▼
Fixed assets21/28€1.01M€956k▼
Tangible fixed assets22/27€1.01M€955k▼
Land and buildings22€785k€739k▼
Plant, machinery and equipment23€125k€122k▼
Furniture and vehicles24€95k€95k▼
Financial fixed assets28€300€300=
Current assets29/58€2.05M€965k▼
Stocks and contracts in progress3€367k€241k▼
Stocks30/36€107k€231k▲
Contracts in progress37€260k€10k▼
Amounts receivable within one year40/41€1.36M€333k▼
Trade receivables40€1.35M€317k▼
Other amounts receivable41€15k€16k▲
Cash at bank and in hand54/58€326k€391k▲
Equity and liabilities
Total equity and liabilities10/49€3.06M€1.92M▼
Equity10/15€616k€618k▲
Contributions10/11€250k€250k=
Reserves13€365k€365k=
Non-distributable reserves130/1€1k€1k=
Reserves not available under the articles1311€1k€1k=
Tax-exempt reserves132€23k€23k=
Distributable reserves133€340k€340k=
Profit (loss) carried forward14€1k€3k▲
Provisions and deferred taxes16€108k€108k=
Provisions for liabilities and charges160/5€108k€108k=
Pensions and similar obligations160€20k€20k=
Major repairs and maintenance162€88k€88k=
Amounts payable17/49€2.34M€1.19M▼
Amounts payable after more than one year17€771k€674k▼
Financial debts170/4€771k€674k▼
Amounts payable within one year42/48€1.55M€513k▼
Current portion of amounts payable after more than one year42€93k€96k▲
Trade debts44€1.14M€280k▼
Suppliers440/4€1.14M€280k▼
Advances received on contracts in progress46€183k€3k▼
Taxes, remuneration and social security45€4k€1k▼
Taxes450/3€4k€1k▼
Other amounts payable47/48€126k€133k▲
Accrued charges and deferred income492/3€14k€7k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€127k€145k▲
Other operating charges640/8€91k€11k▼
Gross operating margin9900€248k€185k▼
Operating profit (loss)9901€30k€29k▼
Financial income75/76B€22€526▲
Recurring financial income75€22€526▲
Financial charges65/66B€28k€27k▼
Recurring financial charges65€28k€27k▼
Profit (loss) for the period before taxes9903€1k€2k▲
Income taxes67/77€170k€546▼
Profit (loss) for the period9904€-168k€2k▲
Profit (loss) for the period to be appropriated9905€-168k€2k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-69k€3k▲
Profit (loss) brought forward from the previous period14P€100k€1k▼
Transfer from equity791/2€70k-
The notes to these accounts (12 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
03-02
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 3 days late
2025
30-06
Financial
Back to profitnet €2k
Net result €2k after one loss-making year.
2024
18-12
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
30-06
Financial
Weakest financial yearnet €-168k ▼136%
Net result drops to €-168k, the lowest in the series; recovery starts the following year.
30-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-06
Financial
Highest result since 2019net €470k ▲1142%
Operating result €489k, net result €470k, both a record.
30-06
Financial
Equity above €500kEq €692k ▲186%
5 profitable years in a row build equity to €692k.
2022
20-12
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
03-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-06
Financial
Equity above €200kEq €204k ▲15.3%
3 profitable years in a row build equity to €204k.
2020
21-12
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
02-01
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
19-12
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
20-12
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
19-12
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Anzegem · 1 establishment unit since 2000
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Mekeirleweg 78570 AnzegemGround area
549 m²
Building footprint
210 m²
Volume, LiDAR
640 m³
Parcel 34038B0380/00W000, Flanders · tallest building 4.9 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
MAPACO NV
since 20002.097.047.750
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34038B0380/00W000 | Flanders | 549 m² | 1 · 210 m² | 4.8 m · 1 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
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BE 0713.979.089
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BE 0794.262.130
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GASCARD G.S.C.
BE 0432.218.736
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ALLAERT FILIP
BE 0859.568.567
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DEBOODT K & D
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Of 3,964 companies in sector 25110 we hold annual accounts for 2,132. 1,498 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded11-10-1999
Fiscal year end30-06
Activities, NACEBEL
25110Manufacture of metal structures and parts of structures
28110
Sources
Crossroads Bank for EnterprisesNational Bank · 25 filingsAddress and cadastre registers
Data from official sources, last processed on 15-09-2026. Scores and ratios are computed by Checked and are not a credit decision.