Summary
MAPAZOZODO 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 €189,512 and a net result of €57,774. Equity is growing by about 48% per year across the filed financial years. Its solvency ranks better than 92% of 9,736 sector peers (NACE 64, financial year 2025). The company has been active since 2002 and the Belgian Official Gazette contains no insolvency or warning signals.
Financials · financial year 2025, micro format
Equity
€189,512▲ 43.9%
2024 · €131,738
Net result
€57,774▲ 35.5%
2024 · €42,641
Total assets
€203,453▲ 35.9%
2024 · €149,755
Solvency
93.1%▲ 5.2pp
2024 · 88.0%
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result recovers in 2025; 2025 is 25% above 2024 and is the highest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€80,351
2025
Net result€57,774
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€203,453
2025
Equity€189,512
2025
Debt€13,941
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€185,615
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)28.4%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency93.1%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio14.31
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 64, Financial service activities, except insurance and pension funding: 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
Line20182019202020212022202320242025
Operating result-€11,015-€23,507€64,739▲ 175%€49,405▼ 23.7%€49,072▼ 0.7%€67,435▲ 37.4%€64,081▼ 5.0%€80,351▲ 25.4%
Net result-€9,990-€17,681€55,823within the sector's middle half▲ 216%€40,829within the sector's middle half▼ 26.9%€46,416within the sector's middle half▲ 13.7%€51,823within the sector's middle half▲ 11.6%€42,641within the sector's middle half▼ 17.7%€57,774within the sector's middle half▲ 35.5%
Equity-€123,475--€105,794▲ 14.3%-€49,972below the sector's middle half▲ 52.8%-€9,143below the sector's middle half▲ 81.7%€37,273below the sector's middle half€89,097within the sector's middle half▲ 139%€131,738within the sector's middle half▲ 47.9%€189,512within the sector's middle half▲ 43.9%
Total assets€10,937-€21,107▲ 93.0%€39,970below the sector's middle half▲ 89.4%€52,766below the sector's middle half▲ 32.0%€63,581below the sector's middle half▲ 20.5%€105,528below the sector's middle half▲ 66.0%€149,755within the sector's middle half▲ 41.9%€203,453within the sector's middle half▲ 35.9%
Debt€134,412-€126,901▼ 5.6%€89,941▼ 29.1%€61,909▼ 31.2%€26,308▼ 57.5%€16,431▼ 37.5%€18,017▲ 9.7%€13,941▼ 22.6%
Working capital-€59,433--€40,794▲ 31.4%-€51,560within the sector's middle half▼ 26.4%-€10,558within the sector's middle half▲ 79.5%€36,031within the sector's middle half€88,027within the sector's middle half▲ 144%€130,819within the sector's middle half▲ 48.6%€185,615above the sector's middle half▲ 41.9%
Solvency-1129.0%--501.2%▲ 627.8pp-125.0%below the sector's middle half▲ 376.2pp-17.3%below the sector's middle half▲ 107.7pp58.6%within the sector's middle half▲ 76.0pp84.4%above the sector's middle half▲ 25.8pp88.0%above the sector's middle half▲ 3.5pp93.1%above the sector's middle half▲ 5.2pp
Current ratio0.14-0.34▲ 0.200.43within the sector's middle half▲ 0.090.83within the sector's middle half▲ 0.402.37within the sector's middle half▲ 1.546.36above the sector's middle half▲ 3.998.26above the sector's middle half▲ 1.9014.31above the sector's middle half▲ 6.05
Return on assets (ROA)-91.3%-83.8%▲ 175.1pp139.7%above the sector's middle half▲ 55.9pp77.4%above the sector's middle half▼ 62.3pp73.0%above the sector's middle half▼ 4.4pp49.1%above the sector's middle half▼ 23.9pp28.5%above the sector's middle half▼ 20.6pp28.4%above the sector's middle half▼ 0.1pp
above
within
below
the middle half of NACE 64, Financial service activities, except insurance and pension funding: 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 €203,453
Fixed assets
€3,897 ▲ 324%
Current assets
€199,556 ▲ 34.1%
Equity and liabilities €203,453
Equity
€189,512 ▲ 43.9%
Debt
€13,941 ▼ 22.6%
Debt's share of the balance-sheet total falls from 12.0% to 6.9%. Equity is higher and debt is lower.
Key figures and ratios
ROE
30.5%▼
2024 · 32.4%
Debt ≤ 1 year
€13,941▼
2024 · €18,017
Income taxes
€27,810▲
2024 · €21,514
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €958 | €958 | €140 | €173 | €173 | €173 | €173 | €881 | ▲ 410% |
| Other operating charges640/8 | - | - | - | €942 | €863 | €909 | €891 | €905 | ▲ 1.6% |
| Gross operating margin9900 | -€8,311 | €25,325 | €65,582 | €50,520 | €50,108 | €68,517 | €65,145 | €82,137 | ▲ 26.1% |
| Operating profit (loss)9901 | -€11,015 | €23,507 | €64,739 | €49,405 | €49,072 | €67,435 | €64,081 | €80,351 | ▲ 25.4% |
| Financial income75/76B | - | - | - | €1 | €0 | €0 | €210 | €5,396 | ▲ 26× |
| Recurring financial income75 | €1,329 | €65 | - | €1 | €0 | €0 | €210 | €5,396 | ▲ 26× |
| Financial charges65/66B | - | - | - | €149 | €558 | €120 | €136 | €162 | ▲ 19.4% |
| Recurring financial charges65 | €304 | €156 | €208 | €149 | €558 | €120 | €136 | €162 | ▲ 19.4% |
| Profit (loss) for the period before taxes9903 | -€9,990 | €23,416 | €64,530 | €49,257 | €48,514 | €67,315 | €64,155 | €85,585 | ▲ 33.4% |
| Income taxes67/77 | - | €5,736 | €8,708 | €8,428 | €2,097 | €15,492 | €21,514 | €27,810 | ▲ 29.3% |
| Profit (loss) for the period9904 | -€9,990 | €17,681 | €55,823 | €40,829 | €46,416 | €51,823 | €42,641 | €57,774 | ▲ 35.5% |
| Transfer from tax-exempt reserves789 | - | - | - | €5,798 | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | -€9,990 | €17,681 | €55,823 | €46,627 | €46,416 | €51,823 | €42,641 | €57,774 | ▲ 35.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €10,937 | €21,107 | €39,970 | €52,766 | €63,581 | €105,528 | €149,755 | €203,453 | ▲ 35.9% |
| Fixed assets21/28 | €958 | - | €1,588 | €1,415 | €1,242 | €1,069 | €919 | €3,897 | ▲ 324% |
| Tangible fixed assets22/27 | €958 | - | €1,588 | €1,415 | €1,242 | €1,069 | €897 | €3,875 | ▲ 332% |
| Plant, machinery and equipment23 | - | - | - | €1,415 | €1,242 | €1,069 | €897 | €3,875 | ▲ 332% |
| Financial fixed assets28 | - | - | - | - | - | - | €22 | €22 | = |
| Current assets29/58 | €9,979 | €21,107 | €38,382 | €51,351 | €62,339 | €104,459 | €148,836 | €199,556 | ▲ 34.1% |
| Amounts receivable within one year40/41 | €5,578 | €1,710 | €133 | €17,551 | €17,795 | €25,100 | €60,783 | €125,710 | ▲ 107% |
| Trade receivables40 | - | - | - | €15,682 | €11,500 | €8,948 | €34,310 | €1,350 | ▼ 96.1% |
| Other amounts receivable41 | - | - | - | €1,869 | €6,296 | €16,152 | €26,473 | €124,360 | ▲ 370% |
| Cash at bank and in hand54/58 | €4,400 | €5,489 | €32,141 | €33,800 | €44,544 | €79,221 | €87,592 | €73,352 | ▼ 16.3% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | €137 | €462 | €494 | ▲ 7.1% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €10,937 | €21,107 | €39,970 | €52,766 | €63,581 | €105,528 | €149,755 | €203,453 | ▲ 35.9% |
| Equity10/15 | -€123,475 | -€105,794 | -€49,972 | -€9,143 | €37,273 | €89,097 | €131,738 | €189,512 | ▲ 43.9% |
| Contributions10/11 | €20,000 | €20,000 | - | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | €10,798 | €10,798 | €10,798 | €5,000 | €5,000 | €56,823 | €99,464 | €157,239 | ▲ 58.1% |
| Non-distributable reserves130/1 | - | - | - | €2,000 | €2,000 | €2,000 | €0 | - | - |
| Reserves not available under the articles1311 | - | - | - | €2,000 | €2,000 | €2,000 | €0 | - | - |
| Distributable reserves133 | - | - | - | €3,000 | €3,000 | €54,823 | €99,464 | €157,239 | ▲ 58.1% |
| Profit (loss) carried forward14 | -€154,273 | -€136,592 | -€80,770 | -€34,143 | €12,273 | €12,273 | €12,273 | €12,273 | = |
| Amounts payable17/49 | €134,412 | €126,901 | €89,941 | €61,909 | €26,308 | €16,431 | €18,017 | €13,941 | ▼ 22.6% |
| Amounts payable after more than one year17 | €65,000 | €65,000 | - | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €69,412 | €61,901 | €89,941 | €61,909 | €26,308 | €16,431 | €18,017 | €13,941 | ▼ 22.6% |
| Trade debts44 | €1,202 | €1,577 | €1,017 | €6,916 | €1,603 | €0 | €2,163 | €0 | ▼ 100% |
| Suppliers440/4 | - | - | - | €6,916 | €1,603 | €0 | €2,163 | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | - | - | - | €928 | €2,267 | €11,005 | €15,854 | €13,941 | ▼ 12.1% |
| Taxes450/3 | - | - | - | €928 | €2,267 | €11,005 | €15,854 | €13,941 | ▼ 12.1% |
| Other amounts payable47/48 | - | - | - | €54,064 | €22,437 | €5,426 | €0 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€9,990 | €17,681 | €55,823 | €40,829 | €46,416 | €51,823 | €42,641 | €57,774 | ▲ 35.5% |
| + Depreciation and write-downs630 | €958 | €958 | €140 | €173 | €173 | €173 | €173 | €881 | ▲ 410% |
| Operating cash flow (approximation) | -€9,032 | €18,639 | €55,962 | €41,002 | €46,589 | €51,996 | €42,814 | €58,656 | ▲ 37.0% |
| Investment in fixed assets (approximation) | - | - | - | €0 | €0 | €0 | -€22 | -€3,859 | ▼ 17,442% |
| Change in cash | - | €1,088 | €26,653 | €1,658 | €10,744 | €34,677 | €8,371 | -€14,240 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 23 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 29-06-2026 | 2026-00232379 |
| 31-12-2024 | micro format | 22-07-2025 | 2025-00297956 |
| 31-12-2023 | micro format | 11-07-2024 | 2024-00244240 |
| 31-12-2022 | abbreviated format | 28-07-2023 | 2023-00292150 |
| 31-12-2021 | abbreviated format | 19-07-2022 | 2022-20202848 |
| 31-12-2020 | abbreviated format | 09-08-2021 | 2021-47700450 |
| 31-12-2019 | abbreviated format | 30-07-2020 | 2020-37700180 |
| 31-12-2018 | abbreviated format | 21-08-2019 | 2019-47900154 |
| 31-12-2017 | abbreviated format | 13-07-2018 | 2018-32600554 |
| 31-12-2016 | abbreviated format | 19-07-2017 | 2017-32500063 |
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Of the 24,456 active companies whose main activity is activities of holding companies (NACE 64210), figures are known for 20,093. 13,714 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.