MAPI
ActiveSummary
MAPI has been active since 1983 and the Belgian Official Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €6.7m and a net result of €604,761. Equity is growing by about 3% per year across the filed financial years. Its solvency ranks better than 65% of 993 sector peers (NACE 77, financial year 2024). The computed 12-month bankruptcy probability is 0.8% (low).
Financials · financial year 2024, abbreviated format
In the rankings
#1 company by total assets in Zoersel, Administrative and support services sector#1 company by equity in Zoersel, Administrative and support services sector#2 oldest company in Zoersel, Administrative and support services sector
2025 annual accounts not yet filed, deadline passed on 31 July 2026 Financial year closed on 31 December 2025; filing due at the latest 7 months after the close (Companies Code art. 3:10). Source: NBB filings, as of 13 October 2026.
Equity
€6.7m▲ 9.9%
2023 · €6.1m
Total assets
€12.7m▼ 20.1%
2023 · €15.9m
Net result
€604,761▲ 42.2%
2023 · €425,387
Working capital
-€2.9m▲ 7.6%
2023 · -€3.2m
Trend over the years
2020 to 2024, 5 financial years 2018 to 2024, 7 financial years
The operating result recovers in 2024; 2024 is 62% above 2023 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€0.8m
2024
Net result€0.6m
2024
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€12.7m
2024
Equity€6.7m
2024
Debt€6.0m
2024
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€2.9m
2024
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)4.8%
2024
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency52.6%
2024
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio0.49
2024
Average staff in full-time equivalents (FTE).
Staff (FTE)0.5
2024
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 77, Rental and leasing 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), Staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line2018201920202021202220232024
Operating result€0.7m-€0.6m▼ 9.7%€0.7m▲ 6.7%€0.7m▲ 7.4%€0.8m▲ 5.2%€0.5m▼ 33.3%€0.8m▲ 62.2%
Net result€0.4m-€0.3m▼ 14.4%€0.3mabove the sector's middle half▼ 4.8%€0.3mabove the sector's middle half▼ 16.8%€0.3mabove the sector's middle half▲ 26.9%€0.4mabove the sector's middle half▲ 26.5%€0.6mabove the sector's middle half▲ 42.2%
Equity€8.6m-€8.9m▲ 3.9%€9.3mabove the sector's middle half▲ 3.6%€9.5mabove the sector's middle half▲ 2.9%€9.9mabove the sector's middle half▲ 3.5%€6.1mabove the sector's middle half▼ 38.3%€6.7mabove the sector's middle half▲ 9.9%
Total assets€15.8m-€16.1m▲ 2.0%€16.5mabove the sector's middle half▲ 2.3%€16.6mabove the sector's middle half▲ 0.7%€17.0mabove the sector's middle half▲ 2.5%€15.9mabove the sector's middle half▼ 6.3%€12.7mabove the sector's middle half▼ 20.1%
Debt€7.1m-€7.1m=€7.2m▲ 0.7%€7.0m▼ 2.0%€7.1m▲ 1.0%€9.8m▲ 38.0%€6.0m▼ 38.7%
Working capital€8.7m-€8.9m▲ 1.9%€9.0mabove the sector's middle half▲ 1.4%€9.2mabove the sector's middle half▲ 2.0%€3.4mabove the sector's middle half▼ 62.8%-€3.2mbelow the sector's middle half-€2.9mbelow the sector's middle half▲ 7.6%
Solvency54.6%-55.6%▲ 1.0pp56.3%within the sector's middle half▲ 0.7pp57.5%within the sector's middle half▲ 1.2pp58.1%within the sector's middle half▲ 0.6pp38.2%within the sector's middle half▼ 19.8pp52.6%within the sector's middle half▲ 14.4pp
Current ratio2.49-2.47▼ 0.022.44within the sector's middle half▼ 0.032.46within the sector's middle half▲ 0.021.52within the sector's middle half▼ 0.940.66within the sector's middle half▼ 0.860.49below the sector's middle half▼ 0.17
Return on assets (ROA)2.5%-2.1%▼ 0.4pp1.9%within the sector's middle half▼ 0.1pp1.6%within the sector's middle half▼ 0.3pp2.0%within the sector's middle half▲ 0.4pp2.7%within the sector's middle half▲ 0.7pp4.8%within the sector's middle half▲ 2.1pp
Staff (FTE)1-1=1.3below the sector's middle half▲ 30.0%1below the sector's middle half▼ 23.1%0.7below the sector's middle half▼ 30.0%0.5below the sector's middle half▼ 28.6%0.5within the sector's middle half=
above
within
below
the middle half of NACE 77, Rental and leasing 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 format does not require them.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €12.7m
Fixed assets
€9.9m ▲ 2.1%
Current assets
€2.8m ▼ 54.6%
Equity and liabilities €12.7m
Equity
€6.7m ▲ 9.9%
Debt
€6.0m ▼ 38.7%
Debt's share of the balance-sheet total falls from 61.8% to 47.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€839,801▲
2023 · €521,139
Cash flow
€629,282▲
2023 · €443,903
Debt to equity
0.90▼
2023 · 1.62
ROE
9.0%▲
2023 · 7.0%
Interest coverage
1.52▲
2023 · 1.07
Debt ≤ 1 year
€5.8m▼
2023 · €9.4m
Income taxes
€45,318▲
2023 · €2,530
Staff costs
€35,782▲
2023 · €33,657
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 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €5,882 | - | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €57,675 | €28,516 | €33,657 | €35,782 | ▲ 6.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €97,810 | €77,714 | €74,705 | €64,470 | €48,903 | €18,516 | €24,522 | ▲ 32.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | - | -€320,000 | - |
| Other operating charges640/8 | - | - | - | €51,898 | €39,313 | €47,081 | €40,713 | ▼ 13.5% |
| Gross operating margin9900 | €872,187 | €790,252 | €807,996 | €890,208 | €869,984 | €601,878 | €596,296 | ▼ 0.9% |
| Operating profit (loss)9901 | €692,914 | €625,400 | €667,127 | €716,165 | €753,252 | €502,623 | €815,280 | ▲ 62.2% |
| Financial income75/76B | - | - | - | €160,517 | €226,282 | €410,498 | €388,728 | ▼ 5.3% |
| Recurring financial income75 | €299,149 | €307,103 | €355,591 | €160,517 | €226,282 | €410,498 | €388,728 | ▼ 5.3% |
| Financial charges65/66B | - | - | - | €395,864 | €439,603 | €485,204 | €553,929 | ▲ 14.2% |
| Recurring financial charges65 | €302,269 | €324,406 | €387,495 | €395,864 | €439,603 | €485,204 | €553,929 | ▲ 14.2% |
| Profit (loss) for the period before taxes9903 | €689,793 | €608,097 | €635,222 | €480,818 | €539,931 | €427,916 | €650,078 | ▲ 51.9% |
| Income taxes67/77 | €299,238 | €273,730 | €316,973 | €215,914 | €203,651 | €2,530 | €45,318 | ▲ 1,691% |
| Profit (loss) for the period9904 | €390,555 | €334,367 | €318,249 | €264,904 | €336,280 | €425,387 | €604,761 | ▲ 42.2% |
| Profit (loss) for the period to be appropriated9905 | €390,555 | €334,367 | €342,803 | €264,904 | €336,280 | €425,387 | €604,761 | ▲ 42.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €15.8m | €16.1m | €16.5m | €16.6m | €17.0m | €15.9m | €12.7m | ▼ 20.1% |
| Fixed assets21/28 | €1.2m | €1.2m | €1.2m | €1.1m | €7.0m | €9.7m | €9.9m | ▲ 2.1% |
| Tangible fixed assets22/27 | €0.6m | €0.5m | €0.5m | €0.6m | €0.5m | €0.5m | €0.5m | ▲ 5.0% |
| Land and buildings22 | - | - | - | €0.3m | €0.5m | €0.5m | €0.5m | ▼ 0.5% |
| Furniture and vehicles24 | - | - | - | €0.1m | €0.05m | €0.03m | €0.06m | ▲ 94.4% |
| Other tangible fixed assets26 | - | - | - | €0.1m | - | - | - | - |
| Financial fixed assets28 | €0.6m | €0.6m | €0.6m | €0.5m | €6.5m | €9.1m | €9.3m | ▲ 2.0% |
| Current assets29/58 | €14.6m | €14.9m | €15.3m | €15.5m | €10.0m | €6.2m | €2.8m | ▼ 54.6% |
| Amounts receivable after more than one year29 | - | - | - | - | €1.8m | €1.8m | €1.0m | ▼ 44.4% |
| Other amounts receivable291 | - | - | - | - | €1.8m | €1.8m | €1.0m | ▼ 44.4% |
| Amounts receivable within one year40/41 | €0.09m | €0.3m | €0.3m | €0.5m | €0.7m | €0.5m | €0.8m | ▲ 50.2% |
| Trade receivables40 | - | - | - | €464 | €0.04m | €0.05m | €0.008m | ▼ 82.3% |
| Other amounts receivable41 | - | - | - | €0.5m | €0.6m | €0.5m | €0.8m | ▲ 63.3% |
| Current investments50/53 | €11.6m | €10.0m | €6.8m | €10.4m | €2.9m | €2.9m | €0.7m | ▼ 75.8% |
| Cash at bank and in hand54/58 | €2.9m | €4.6m | €8.2m | €4.6m | €4.5m | €1.0m | €0.3m | ▼ 68.3% |
| Deferred charges and accrued income490/1 | - | - | - | - | €0.02m | €0.02m | €0.02m | ▼ 12.4% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €15.8m | €16.1m | €16.5m | €16.6m | €17.0m | €15.9m | €12.7m | ▼ 20.1% |
| Equity10/15 | €8.6m | €8.9m | €9.3m | €9.5m | €9.9m | €6.1m | €6.7m | ▲ 9.9% |
| Contributions10/11 | €2.9m | €2.9m | €2.9m | €2.9m | €2.9m | €0.2m | €0.2m | = |
| Capital10 | - | - | - | €2.9m | €2.9m | €0.2m | €0.2m | = |
| Issued capital100 | - | - | - | €2.9m | €2.9m | €0.2m | €0.2m | = |
| Reserves13 | €5.1m | €5.4m | €5.7m | €6.0m | €6.3m | €5.2m | €5.8m | ▲ 11.5% |
| Non-distributable reserves130/1 | - | - | - | €0.3m | €0.3m | €0.3m | €0.02m | ▼ 93.8% |
| Legal reserve130 | - | - | - | €0.3m | €0.3m | €0.3m | €0.02m | ▼ 93.8% |
| Distributable reserves133 | - | - | - | €5.7m | €6.0m | €4.9m | €5.8m | ▲ 17.6% |
| Profit (loss) carried forward14 | €0.6m | €0.6m | €0.7m | €0.7m | €0.7m | €0.7m | €0.7m | ▲ 0.7% |
| Provisions and deferred taxes16 | €0.02m | €0.01m | €271 | €271 | - | - | - | - |
| Provisions for liabilities and charges160/5 | - | - | - | €271 | - | - | - | - |
| Major repairs and maintenance162 | - | - | - | €271 | - | - | - | - |
| Amounts payable17/49 | €7.1m | €7.1m | €7.2m | €7.0m | €7.1m | €9.8m | €6.0m | ▼ 38.7% |
| Amounts payable within one year42/48 | €5.9m | €6.0m | €6.3m | €6.3m | €6.5m | €9.4m | €5.8m | ▼ 38.8% |
| Trade debts44 | €0.02m | €0.01m | €0.04m | €0.003m | €0.01m | €0.03m | €0.08m | ▲ 155% |
| Suppliers440/4 | - | - | - | €0.003m | €0.01m | €0.03m | €0.08m | ▲ 155% |
| Taxes, remuneration and social security45 | - | - | - | €0.06m | €0.1m | €0.03m | €0.2m | ▲ 554% |
| Taxes450/3 | - | - | - | €0.05m | €0.1m | €0.02m | €0.2m | ▲ 683% |
| Remuneration and social security454/9 | - | - | - | €0.006m | €0.005m | €0.006m | €0.006m | ▲ 3.9% |
| Other amounts payable47/48 | - | - | - | €6.2m | €6.4m | €9.4m | €5.5m | ▼ 41.3% |
| Accrued charges and deferred income492/3 | - | - | - | €0.8m | €0.6m | €0.4m | €0.3m | ▼ 38.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.4m | €0.3m | €0.3m | €0.3m | €0.3m | €0.4m | €0.6m | ▲ 42.2% |
| + Depreciation and write-downs630 | €0.1m | €0.08m | €0.07m | €0.06m | €0.05m | €0.02m | €0.02m | ▲ 32.4% |
| Operating cash flow (approximation) | €0.5m | €0.4m | €0.4m | €0.3m | €0.4m | €0.4m | €0.6m | ▲ 41.8% |
| Investment in fixed assets (approximation) | - | -€0.06m | -€0.08m | €0.03m | -€6.0m | -€2.7m | -€0.2m | ▲ 91.4% |
| Change in cash | - | €1.8m | €3.6m | -€3.6m | -€0.02m | -€3.5m | -€0.7m | ▲ 80.4% |
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 41 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2024 | abbreviated format | 27-10-2025 | 2025-00550069 |
| 31-12-2023 | abbreviated format | 13-12-2024 | 2024-00615192 |
| 31-12-2022 | abbreviated format | 16-11-2023 | 2023-00512263 |
| 31-12-2021 | abbreviated format | 23-12-2022 | 2022-20544978 |
| 31-12-2020 | abbreviated format | 14-12-2021 | 2021-80700067 |
| 31-12-2019 | abbreviated format | 17-12-2020 | 2020-76000468 |
| 31-12-2018 | abbreviated format | 16-12-2019 | 2019-76200104 |
| 31-12-2017 | abbreviated format | 18-12-2018 | 2018-74900431 |
| 31-12-2016 | abbreviated format | 13-12-2017 | 2017-71800292 |
| 31-12-2015 | abbreviated format | 15-12-2016 | 2016-70300596 |
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Of the 173 active companies whose main activity is rental and leasing activities (NACE 77330), figures are known for 111. 30 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.